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Print - 2010-04-13
Russia to raise May oil export duty to $281-284 per tonne

Russia to raise May oil export duty to $281-284 per tonne

Russia is likely to increase its oil export duty in May to between $281 and $284 per tonne from $268.9 currently to reflect a rise in oil prices, according to Finance Ministry figures and Reuters calculations. The export duty, a major factor in the financ
Published 13 Apr, 2010 12:00am
Railways to curtail 20 uneconomic trains

Railways to curtail 20 uneconomic trains

Pakistan Railways (PR) has decided to curtail 20 uneconomic trains and railway stations to reduce the deficit which has crossed an all time high of Rs 65 billion, informed sources in the Ministry of Pakistan Railways revealed to Business Recorder.
Published 13 Apr, 2010 12:00am
US corn, soya up

US corn, soya up

US corn futures rose 0.8 percent on Monday as the market bounced from around six-month lows, while soya firmed as the dollar fell after European Union leaders agreed on an emergency aid mechanism for debt-hit Greece. Soyabeans received additional support
Published 13 Apr, 2010 12:00am
NYC terror probe nabs fourth suspect in Pakistan

NYC terror probe nabs fourth suspect in Pakistan

A fourth suspect in a disrupted plot to bomb New York City subways has been arrested in Pakistan, law enforcement officials said Monday. The principal suspect in the case.
Published 13 Apr, 2010 12:00am
Australian wheat exports slip

Australian wheat exports slip

Exports of wheat from Australia, the fourth largest exporter of the cereal, are at a slightly slower pace than last year as exporters struggle with a strong currency, lower prices and an oversupplied world market. CBH Group, the country's largest grain ex
Published 13 Apr, 2010 12:00am
NYC terror probe nabs fourth suspect in Pakistan

NYC terror probe nabs fourth suspect in Pakistan

A fourth suspect in a disrupted plot to bomb New York City subways has been arrested in Pakistan, law enforcement officials said Monday. The principal suspect in the case.
Published 13 Apr, 2010 12:00am
Egypt sells 400 tonnes of cotton

Egypt sells 400 tonnes of cotton

Egypt's Alexandria Cotton Exporters' Association (Alcotexa) committed to sell 400 tonnes of cotton in the week that ended on April 10, an Alcotexa official told Reuters on Sunday. The sales comprised 300 tonnes of Giza 86, 50 tonnes of Giza 88 and 50 tonn
Published 13 Apr, 2010 12:00am
Eight Turkish diplomats treated for food poisoning

Eight Turkish diplomats treated for food poisoning

Government and medical authorities in Macedonia say eight visiting Turkish diplomats have been treated in the hospital treatment for food poisoning. Four of the diplomats remained in the hospital Monday. The others were released. Private A1 television say
Published 13 Apr, 2010 12:00am
Malaysian March palm stocks fall to six-month lows

Malaysian March palm stocks fall to six-month lows

Malaysia's March palm oil stocks dropped to six month lows as overseas demand outweighed a strong production recovery in absolute terms. The Malaysian Palm Oil Board said on Monday that stocks in the world's No 2 producer of the vegetable oil dropped 7.5
Published 13 Apr, 2010 12:00am
Eight Turkish diplomats treated for food poisoning

Eight Turkish diplomats treated for food poisoning

Government and medical authorities in Macedonia say eight visiting Turkish diplomats have been treated in the hospital treatment for food poisoning. Four of the diplomats remained in the hospital Monday. The others were released. Private A1 television say
Published 13 Apr, 2010 12:00am
Malaysian palm oil mixed

Malaysian palm oil mixed

Malaysia palm oil futures were mixed on Monday due to a technical correction with the benchmark June contract down 1.9 percent after sharp gains last week. By the midday break, the benchmark June contract on Bursa Malaysia's derivatives exchange was down
Published 13 Apr, 2010 12:00am
Prime Minister makes strong case for Pak-US civilian nuclear deal

Prime Minister makes strong case for Pak-US civilian nuclear deal

Prime Minister Syed Yousuf Raza Gilani on Monday made a strong case for US civilian nuclear co-operation with Pakistan and asked the Obama Administration to adopt a non-discriminatory approach in terms of giving Islamabad access to civilian nuclear techno
Published 13 Apr, 2010 12:00am
Airlines must embrace urge to merge: IATA chief

Airlines must embrace urge to merge: IATA chief

The head of the International Air Transport Association (IATA) has called for more tie-ups in the airline industry as the struggling sector braces for rising oil prices. Airline "mergers and consolidation is a must," Giovanni Bisignani, IATA's director-ge
Published 13 Apr, 2010 12:00am
Prime Minister makes strong case for Pak-US civilian nuclear deal

Prime Minister makes strong case for Pak-US civilian nuclear deal

Prime Minister Syed Yousuf Raza Gilani on Monday made a strong case for US civilian nuclear co-operation with Pakistan and asked the Obama Administration to adopt a non-discriminatory approach in terms of giving Islamabad access to civilian nuclear techno
Published 13 Apr, 2010 12:00am
Google buys Plink

Google buys Plink

US giant Google has moved to strengthen its visual search engine tool Google Goggles with the purchase of British start-up Plink for an undisclosed amount, Plink's founders announced on Monday. Google Goggles and Plink both allow people to carry out web s
Published 13 Apr, 2010 12:00am
Citigroup plans 40 percent asset cut

Citigroup plans 40 percent asset cut

US banking giant Citigroup, which suffered big losses in 2008 and 2009, plans to reduce its assets by 40 percent as it undergoes a sweeping restructuring, chief executive Vikram Pandit said on Monday. The bank is determined to return to fundamentals and h
Published 13 Apr, 2010 12:00am
Citigroup plans 40 percent asset cut

Citigroup plans 40 percent asset cut

US banking giant Citigroup, which suffered big losses in 2008 and 2009, plans to reduce its assets by 40 percent as it undergoes a sweeping restructuring, chief executive Vikram Pandit said on Monday. The bank is determined to return to fundamentals and h
Published 13 Apr, 2010 12:00am
'Iran gas price hike could deliver $17 billion'

'Iran gas price hike could deliver $17 billion'

Iran should raise domestic gas prices by around 10 times to help boost development of the sector and generate up to $17 billion savings in state spending, Oil Minister Massoud Mirkazemi said in remarks published Monday. The semi-official Mehr News Agency
Published 13 Apr, 2010 12:00am
Two workers of Bank of China Hong Kong charged in Lehman case

Two workers of Bank of China Hong Kong charged in Lehman case

Two employees of Bank of China Ltd's Hong Kong subsidiary have been charged in connection with sales of financial products linked to collapsed Lehman Brothers Holdings Inc, Bank of China announced Monday. Thousands of small Hong Kong investors complain th
Published 13 Apr, 2010 12:00am
SBP injection dips to Rs 20 billion

SBP injection dips to Rs 20 billion

Last week, the SBP injection through Open Market Operation was reduced to Rs 22 billion after a long spell of tight market conditions. SBP has been injecting liquidity for almost a year, which was on a constant rise. It was in August 2009 that the SBP had
Published 13 Apr, 2010 12:00am
Spain to contribute 3.6 billion euros to Greece plan

Spain to contribute 3.6 billion euros to Greece plan

Spain will contribute 3.6 billion euros ($4.82 billion) to a rescue plan for Greece if the country decides to use the aid mechanism, Spain's secretary of state for EU affairs said on Monday. Speaking at an event in Madrid, Diego Lopez Garrido said an aid
Published 13 Apr, 2010 12:00am
SBP injection dips to Rs 20 billion

SBP injection dips to Rs 20 billion

Last week, the SBP injection through Open Market Operation was reduced to Rs 22 billion after a long spell of tight market conditions. SBP has been injecting liquidity for almost a year, which was on a constant rise. It was in August 2009 that the SBP had
Published 13 Apr, 2010 12:00am
No summit needed to activate Greek aid: Commission

No summit needed to activate Greek aid: Commission

The European Commission said on Monday a summit of European leaders would not have to be called to activate aid for Greece, but some kind of meeting would be required to secure unanimous eurozone backing. A German government spokesman said earlier on Mond
Published 13 Apr, 2010 12:00am
SBP injection dips to Rs 20 billion

SBP injection dips to Rs 20 billion

Last week, the SBP injection through Open Market Operation was reduced to Rs 22 billion after a long spell of tight market conditions. SBP has been injecting liquidity for almost a year, which was on a constant rise. It was in August 2009 that the SBP had
Published 13 Apr, 2010 12:00am
Deflation the only option for Greece, says IMF chief

Deflation the only option for Greece, says IMF chief

Deflation is the only way Greece can effectively tackle its debt problems, International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn was quoted on Monday as saying. "The only effective remedy that remains is deflation," Strauss-Kahn told
Published 13 Apr, 2010 12:00am
Step in light of Sindh government move: FBR to amend proposed VAT bill

Step in light of Sindh government move: FBR to amend proposed VAT bill

The Federal Board of Revenue (FBR) has decided to amend the proposed Federal-Value Added Tax (VAT) Act 2010 to collect VAT only on goods or withdraw all exemptions/zero-ratings under the Sales Tax Act 1990 in case the Provincial Assembly of Sindh opted to
Published 13 Apr, 2010 12:00am
ENI, Gazprom confirm 'full commitment' to South Stream

ENI, Gazprom confirm 'full commitment' to South Stream

Italian energy company ENI and its Russian partner Gazprom on Monday expressed "full commitment" to the South Stream pipeline project after a Gazprom executive criticised ENI last week. The two companies underscored "their intention to complete the feasib
Published 13 Apr, 2010 12:00am
Step in light of Sindh government move: FBR to amend proposed VAT bill

Step in light of Sindh government move: FBR to amend proposed VAT bill

The Federal Board of Revenue (FBR) has decided to amend the proposed Federal-Value Added Tax (VAT) Act 2010 to collect VAT only on goods or withdraw all exemptions/zero-ratings under the Sales Tax Act 1990 in case the Provincial Assembly of Sindh opted to
Published 13 Apr, 2010 12:00am
Qatar and Norway open joint aluminium smelter

Qatar and Norway open joint aluminium smelter

Qatar and Norway inaugurated Monday a 5.9-billion-dollar project for an aluminium smelter south of Doha which will have an annual production capacity of 585,000 tonnes. The Qatar Aluminium (Qatalum) plant, a result of a joint venture between Qatar Petrole
Published 13 Apr, 2010 12:00am
Step in light of Sindh government move: FBR to amend proposed VAT bill

Step in light of Sindh government move: FBR to amend proposed VAT bill

The Federal Board of Revenue (FBR) has decided to amend the proposed Federal-Value Added Tax (VAT) Act 2010 to collect VAT only on goods or withdraw all exemptions/zero-ratings under the Sales Tax Act 1990 in case the Provincial Assembly of Sindh opted to
Published 13 Apr, 2010 12:00am
Germany's Deutz extends partnership with AB Volvo

Germany's Deutz extends partnership with AB Volvo

German heavy engine manufacturer Deutz extended a decade-long partnership with Swedish industrial conglomerate AB Volvo on Monday, strengthening ties to its biggest customer. Deutz will remain the sole supplier of diesel engines ranging from 4 to 8 litres
Published 13 Apr, 2010 12:00am
Hazara protests turn violent; seven killed

Hazara protests turn violent; seven killed

Seven people were killed and dozens injured as the activists of Tehrik-e-Sooba Hazara took to the streets in Abbottabad, former winter-metropolis of the province, despite imposition of Section 144 against the renaming of NWFP as Khyber Pakhtunkhwa on Mond
Published 13 Apr, 2010 12:00am
Hazara protests turn violent; seven killed

Hazara protests turn violent; seven killed

Seven people were killed and dozens injured as the activists of Tehrik-e-Sooba Hazara took to the streets in Abbottabad, former winter-metropolis of the province, despite imposition of Section 144 against the renaming of NWFP as Khyber Pakhtunkhwa on Mond
Published 13 Apr, 2010 12:00am
UBS first quarter best since crisis began, withdrawals slow

UBS first quarter best since crisis began, withdrawals slow

UBS delivered its highest pretax profit since the credit crisis began, just ahead of a likely tense shareholder meeting, and said withdrawals had slowed substantially as the bank rebuilds client trust. In an unscheduled announcement, the world's second-la
Published 13 Apr, 2010 12:00am
India posts double-digit industrial growth

India posts double-digit industrial growth

India posted double-digit industrial growth for a sixth straight month in February, data showed Monday, adding to pressure on the central bank to further hike interest rates to tame inflation. Output by factories, mines and utilities grew 15.1 percent yea
Published 13 Apr, 2010 12:00am
Japan's economy 'improving' under new government: Kan

Japan's economy 'improving' under new government: Kan

Economic conditions in Japan have improved since the government took office seven months ago, Finance Minister Naoto Kan said Monday, but added that huge public debt remained a challenge. Citing rising share prices and a weaker yen, Kan told reporters at
Published 13 Apr, 2010 12:00am
China condemns US duties on steel pipes as protectionist

China condemns US duties on steel pipes as protectionist

China on Monday condemned a US decision to slap trade sanctions on Chinese pipes as "protectionist", but did not say if it would retaliate. The response came as Chinese President Hu Jintao left Beijing Monday to attend a nuclear security summit hosted by
Published 13 Apr, 2010 12:00am
China rules out option of one-off yuan rise

China rules out option of one-off yuan rise

China is unlikely to consider an one-off revaluation but may widen the yuan's trading band, a monetary official said in remarks published on Monday. "According to our research, the option of a one-off appreciation is not applicable, but we may widen the d
Published 13 Apr, 2010 12:00am
Geely eyes Volvo break even in fourth quarter, own second-half net falls

Geely eyes Volvo break even in fourth quarter, own second-half net falls

Chinese carmaker, Geely Automobile Holdings said Volvo, which it is in the process of buying, could break even as early as the fourth quarter, after posting a surprise drop in its own second-half earnings. Hong Kong-listed Geely shares fell 6 percent in t
Published 13 Apr, 2010 12:00am
Geely eyes Volvo break even in fourth quarter, own second-half net falls

Geely eyes Volvo break even in fourth quarter, own second-half net falls

Chinese carmaker, Geely Automobile Holdings said Volvo, which it is in the process of buying, could break even as early as the fourth quarter, after posting a surprise drop in its own second-half earnings. Hong Kong-listed Geely shares fell 6 percent in t
Published 13 Apr, 2010 12:00am
No shortage of oil despite high prices: Qatar

No shortage of oil despite high prices: Qatar

There is no shortage of crude in the global oil market, Qatar's Oil Minister Abdullah al-Attiyah said on Monday. Oil prices of around $85 a barrel were not related to supply and demand fundamentals, he told reporters after the inauguration of an aluminium
Published 13 Apr, 2010 12:00am
China bank lending slows as Beijing's curbs bite

China bank lending slows as Beijing's curbs bite

The pace of Chinese bank lending slowed in March, marking an initial victory by Beijing in its campaign to stop the world's third-largest economy from bubbling over. Net new lending slowed last month to 510.7 billion yuan ($75 billion), well below forecas
Published 13 Apr, 2010 12:00am
RUSAL profit trumps forecasts, eyes higher output

RUSAL profit trumps forecasts, eyes higher output

Russia's UC RUSAL, the world's biggest aluminium producer, plans to boost output and restart a mothballed plant after reporting a better-than-expected profit for the second half of 2009. RUSAL, in its first annual report since its January IPO, forecast de
Published 13 Apr, 2010 12:00am
US envoy warns Vietnam against price controls

US envoy warns Vietnam against price controls

A US envoy Monday warned Vietnam against imposing price controls, pointing to failures in market regulation elsewhere in the world that had taken decades to overcome. Foreign companies in Vietnam fear Hanoi may be about to impose price controls on a range
Published 13 Apr, 2010 12:00am
World Bank plans to add to A$ 2016, 2019 bonds

World Bank plans to add to A$ 2016, 2019 bonds

The World Bank plans to increase two kangaroo bond lines maturing in 2016 and 2019, a joint lead said on Monday. The triple A rated supranational borrower hired RBC, UBS and Westpac to jointly manage the bond reopenings, the joint lead said. The increases
Published 13 Apr, 2010 12:00am
World Bank plans to add to A$ 2016, 2019 bonds

World Bank plans to add to A$ 2016, 2019 bonds

The World Bank plans to increase two kangaroo bond lines maturing in 2016 and 2019, a joint lead said on Monday. The triple A rated supranational borrower hired RBC, UBS and Westpac to jointly manage the bond reopenings, the joint lead said. The increases
Published 13 Apr, 2010 12:00am
Australian rates close to average levels: RBA

Australian rates close to average levels: RBA

Australian interest rates are rising back towards average from very low levels and are now close to what policymakers consider normal, a top central banker said on Monday. Guy Debelle, assistant governor of the Reserve Bank of Australia (RBA), also told a
Published 13 Apr, 2010 12:00am
Indonesia takes US to WTO over clove cigarette ban

Indonesia takes US to WTO over clove cigarette ban

Indonesia is launching a formal dispute at the World Trade Organisation (WTO) against the United States over a US ban on clove-flavoured cigarettes, an official at Indonesia's WTO mission said on Monday. Like many trade disputes, this one involves health
Published 13 Apr, 2010 12:00am
General Motors China sales to hit three million vehicles by 2015

General Motors China sales to hit three million vehicles by 2015

US auto giant General Motors said Monday it expected its annual car sales in China to hit more than three million vehicles in 2015 as the country's car market continues to outpace that in the US. Kevin Wale, GM China Group president and managing director,
Published 13 Apr, 2010 12:00am
Swiss mulling punitive taxes for banks with excessive risks

Swiss mulling punitive taxes for banks with excessive risks

Switzerland is looking into the possibility of imposing punitive taxes on big banks if they take high risks, Swiss newspaper Tages-Anzeiger said Monday. Citing anonymous sources, the newspaper reported that the Swiss Finance Minister Hans-Rudolf Merz is c
Published 13 Apr, 2010 12:00am
'EU farm subsidies more important than ever'

'EU farm subsidies more important than ever'

EU agriculture commissioner Dacian Ciolos argued Monday that the economic crisis justified the need to keep a strong aid policy for Europe's farmers, which developing countries slam as unfair.
Published 13 Apr, 2010 12:00am
Profiting from poverty? Microfinance IPO sparks debate

Profiting from poverty? Microfinance IPO sparks debate

An initial public offer by India's SKS Microfinance is likely to set the stage for more such offers in the world's largest microlending market, but it has also sparked a debate on the ethics of profiting from the poor. The IPO, a first in India and one of
Published 13 Apr, 2010 12:00am
South Korean bonds drop

South Korean bonds drop

South Korean domestic bond prices fell on Monday, with long-term debt hit harder, as the central bank's upgrade of its economic growth forecast persuaded traders to book profits from the market's rally this year. The 5-year treasury bond yield rose 10 bas
Published 13 Apr, 2010 12:00am
South Korean bonds drop

South Korean bonds drop

South Korean domestic bond prices fell on Monday, with long-term debt hit harder, as the central bank's upgrade of its economic growth forecast persuaded traders to book profits from the market's rally this year. The 5-year treasury bond yield rose 10 bas
Published 13 Apr, 2010 12:00am
Australian shares stride higher

Australian shares stride higher

Australian stocks rose 0.7 percent on Monday, with investors encouraged by an emergency aid plan for Greece, a brighter mood on Wall Street, booming iron ore demand and mining takeovers activity at home. Macarthur Coal, focus of a bidding war, climbed as
Published 13 Apr, 2010 12:00am
Nikkei ends up

Nikkei ends up

Japan's Nikkei average rose 0.4 percent on Monday after better-than-expected US wholesale inventories underscored a recovery in the US economy, while ad agency Dentsu surged on improved earnings guidance. Trading houses such as Mitsui & Co did especially
Published 13 Apr, 2010 12:00am
BoCHK plans reopening of 2020 bonds

BoCHK plans reopening of 2020 bonds

Bank of China Hong Kong, a unit of the state giant Bank of China, plans a further issue of subordinated notes due in 2020, it said in a Hong Kong stock exchange filing on Monday. The issue is likely to raise between $600 million and $900 million, a source
Published 13 Apr, 2010 12:00am
BoCHK plans reopening of 2020 bonds

BoCHK plans reopening of 2020 bonds

Bank of China Hong Kong, a unit of the state giant Bank of China, plans a further issue of subordinated notes due in 2020, it said in a Hong Kong stock exchange filing on Monday. The issue is likely to raise between $600 million and $900 million, a source
Published 13 Apr, 2010 12:00am
JGBs slip; 30-year sale eyed

JGBs slip; 30-year sale eyed

Japanese government bond futures slipped on Monday as participants trimmed their positions on a rise in Tokyo shares and ahead of an upcoming 30-year debt auction. Midterm JGBs held relatively firm, as bargain hunting from banks flush with cash prevented
Published 13 Apr, 2010 12:00am
JGBs slip; 30-year sale eyed

JGBs slip; 30-year sale eyed

Japanese government bond futures slipped on Monday as participants trimmed their positions on a rise in Tokyo shares and ahead of an upcoming 30-year debt auction. Midterm JGBs held relatively firm, as bargain hunting from banks flush with cash prevented
Published 13 Apr, 2010 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks edged up 0.3 percent on Monday in cautious trading, as Taiwan Semiconductor Manufacturing Co (TSMC) led chipmakers higher after the world's top contract chipmaker posted forecast-beating quarterly results. The main TAIEX index rose 25.72 poi
Published 13 Apr, 2010 12:00am
Hong Kong shares decline, Chinese index falls

Hong Kong shares decline, Chinese index falls

Hong Kong stocks fell 0.32 percent on Monday as fears that Beijing may tighten credit wiped out earlier gains after eurozone countries provided a debt lifeline for troubled Greece. The benchmark Hang Seng Index eased 70.33 points to 22,138.17. Turnover wa
Published 13 Apr, 2010 12:00am
China yields rise before 20-year bond sale

China yields rise before 20-year bond sale

Chinese bill and bond yields mostly rose on Monday with the approach of Wednesday's 20-year bond sale by the finance ministry and a slew of key March and first quarter economic data which is expected to be strong. Traders believe longer-term yields, which
Published 13 Apr, 2010 12:00am
China yields rise before 20-year bond sale

China yields rise before 20-year bond sale

Chinese bill and bond yields mostly rose on Monday with the approach of Wednesday's 20-year bond sale by the finance ministry and a slew of key March and first quarter economic data which is expected to be strong. Traders believe longer-term yields, which
Published 13 Apr, 2010 12:00am
Seoul shares end lower

Seoul shares end lower

Seoul shares slipped on Monday as losses in key exporting issues in the auto and technology sectors pressured the market, but Dongkuk Steel jumped after the company said it had decided against acquiring a stake in Daewoo E&C. Analysts said the strengtheni
Published 13 Apr, 2010 12:00am
Australian dollar hits five-month high

Australian dollar hits five-month high

The Australian and New Zealand dollars hit multi-month highs on Monday as details of a concrete aid plan for Greece improved the appetite for risk, though the euro ended up the biggest winner. The Australian dollar initially gained as much as a cent to a
Published 13 Apr, 2010 12:00am
Euro jumps

Euro jumps

The euro leapt to its highest in nearly a month on Monday, surging 1 percent on the dollar and yen as investors who had sold it scrambled to buy it back after euro zone finance ministers agreed a rescue package for Greece. The euro's rise weighed broadly
Published 13 Apr, 2010 12:00am
Most Asian currencies rise on Greece aid package

Most Asian currencies rise on Greece aid package

Most Asian currencies rose on Monday as investors bought riskier assets after European Union leaders agreed to a rescue package for Greece, with gains in the Singapore dollar sparking official intervention. The euro jumped to 1.3692 from $1.3488 in New Yo
Published 13 Apr, 2010 12:00am
Yuan forwards edge down after China trade deficit

Yuan forwards edge down after China trade deficit

Offshore yuan forwards (NDFs) edged down against the dollar on Monday after China reported on the weekend its first monthly trade deficit in 6 years, which may decrease expectations for a rise in the yuan. The General Administration of Customs said on Sat
Published 13 Apr, 2010 12:00am
Strategy evolved to hunt volleyball players in Punjab

Strategy evolved to hunt volleyball players in Punjab

President Punjab Volleyball Association Zafar Abbas Luk has said that a strategy has been formulated for the promotion and development of game of volleyball in the province. Talking to Business Recorder here he said that under the programme, specia
Published 13 Apr, 2010 12:00am
Mickelson wins Masters while Tiger shares fourth

Mickelson wins Masters while Tiger shares fourth

US star Phil Mickelson won his third Masters title and fourth major crown in dramatic fashion on Sunday while Tiger Woods could only ponder his mistakes and wonder what might have been. Mickelson shot a bogey-free five-under par 67 to finish 72 holes on 1
Published 13 Apr, 2010 12:00am
Bradshaw welcomes India and Pakistan Test

Bradshaw welcomes India and Pakistan Test

Lord's chief executive Keith Bradshaw said on Monday he would welcome the opportunity to host a Test between Asian powerhouses Pakistan and India at the headquarters of world cricket next year. Pakistan, who are forced to play home matches on neutral terr
Published 13 Apr, 2010 12:00am
MCC to sponsor Pakistan, Australia series

MCC to sponsor Pakistan, Australia series

Marylebone Cricket Club (MCC) announced Monday that it would be sponsoring the Test and one-day series between Pakistan and Australia in England in July. This will be the first time MCC, the owners of London Lord's Cricket Ground where the first of two Te
Published 13 Apr, 2010 12:00am
Wozniacki wins second straight Ponte Vedra title

Wozniacki wins second straight Ponte Vedra title

Top-seeded Caroline Wozniacki erased a 4-1 second-set deficit to defeat Olga Govortsova 6-2, 7-5 Sunday and win this WTA Tour green clay tournament for the second straight year. The world number two from Denmark took her winning streak here to 10 matches
Published 13 Apr, 2010 12:00am
Stags and Muhammadan reach semi-finals

Stags and Muhammadan reach semi-finals

Sayid Paper Mills Stags and Lahore Muhammadan strolled into semi-finals of Ist SPM Lahore Veteran Cricket Championship. In the first quarterfinal, Aizad Sayid-led Stags beat Siddiq Motors with thrilling two-run at Model Town Whites Ground. Stags made 234
Published 13 Apr, 2010 12:00am
Twenty20 not a threat to Tests, one-dayers: ICC chief

Twenty20 not a threat to Tests, one-dayers: ICC chief

Tests and 50-over games will remain popular despite the growing success of the Twenty20 format, International Cricket Council chief executive Haroon Lorgat said Monday. "There is no question about the popularity of Twenty20 cricket," Lorgat told reporters
Published 13 Apr, 2010 12:00am
Bangladesh sentences 50 guards over 2009 mutiny

Bangladesh sentences 50 guards over 2009 mutiny

A special court in Bangladesh sentenced 50 border guards to jail terms ranging from four months to seven years Monday for involvement in a deadly mutiny last year. A total of 74 people died when guards from the Bangladesh Rifles mutinied, apparently becau
Published 13 Apr, 2010 12:00am
World's deepest known undersea volcanic vent found

World's deepest known undersea volcanic vent found

A British scientific expedition says it has discovered the world's deepest known underwater volcanic vent off the Cayman Islands. Experts aboard the RRS James Cook say they found the vent five kilometers (more than three miles) beneath the surface of the
Published 13 Apr, 2010 12:00am
Iran says its drones can gather intelligence, strike targets

Iran says its drones can gather intelligence, strike targets

A top Iranian general said on Monday that the military's newly produced aerial drones, which have aroused US concern, are capable of gathering intelligence and striking at targets. "We have made good advances and production is going on at suitable rate,"
Published 13 Apr, 2010 12:00am
April to be 'decisive phase' for Iran sanctions: Germany

April to be 'decisive phase' for Iran sanctions: Germany

April will be a "decisive phase" in international efforts to agree on new sanctions against Iran for its nuclear programme, a German government official said on Monday. The official was speaking ahead of a visit to the United States by German Chancellor A
Published 13 Apr, 2010 12:00am
Thai tensions seethe; shares hit by deadly clashes

Thai tensions seethe; shares hit by deadly clashes

Thai anti-government protesters marched in Bangkok on Monday, carrying empty coffins in memory of comrades killed at the weekend, as the country's worst political violence in 18 years sent the stock market down 5 percent. Saturday's fighting, some of it i
Published 13 Apr, 2010 12:00am
Bomb rattles British spy headquarters in Northern Ireland

Bomb rattles British spy headquarters in Northern Ireland

Northern Ireland's Protestant and Catholic leaders united in condemnation Monday against the latest attack by IRA dissidents, a bomb that exploded outside the British spy headquarters near Belfast. The overnight blast which caused no serious injuries and
Published 13 Apr, 2010 12:00am
Dubai jails two for Chechen commander's murder

Dubai jails two for Chechen commander's murder

A Dubai court jailed two men for life on Monday for assisting in the assassination of Sulim Yamadayev, a prominent foe of the Kremlin-backed Chechen president, Ramzan Kadyrov. Yamadayev, one of Kadyrov's top commanders until he fled Chechnya in 2008, was
Published 13 Apr, 2010 12:00am
Brown to defend recovery in election pitch

Brown to defend recovery in election pitch

Britain's ruling Labour Party, trailing in the polls before a May 6 election, sought to regain the initiative on Monday with plans to support the economic recovery and raise the bar for corporate takeovers. Unveiling Labour's platform for what would be an
Published 13 Apr, 2010 12:00am
Nepal scraps passport deal with Indian firm

Nepal scraps passport deal with Indian firm

Nepal has scrapped a decision to award a lucrative contract for producing passports to a state-owned Indian firm, the government said Monday, hours before a court hearing into the deal. The government had faced widespread criticism over its decision to aw
Published 13 Apr, 2010 12:00am
MPs accused of fiddling expenses get legal aid

MPs accused of fiddling expenses get legal aid

Three former Labour MPs accused of fiddling their parliamentary expenses have been awarded publicly-funded legal aid to pay for their defence in their upcoming court cases, officials said on Monday. Elliot Morley, David Chaytor and Jim Devine all face cri
Published 13 Apr, 2010 12:00am
Taiwan developing 'carrier killer' for navy: report

Taiwan developing 'carrier killer' for navy: report

Taiwan has unveiled the first images of a high-tech missile corvette specifically designed to counter the threat of China acquiring an aircraft carrier, officials and media said Monday. A computerised graphic of the 1,000-tonne "carrier killer," which has
Published 13 Apr, 2010 12:00am
Afghan fury after US troops kill four civilians

Afghan fury after US troops kill four civilians

Four civilians were killed when US troops fired on a bus in Afghanistan on Monday, sparking furious protests and an expression of regret from the military alliance. About 200 men took to the streets of Kandahar to demonstrate over the killings on a highwa
Published 13 Apr, 2010 12:00am
Arabs slam Israel's West Bank deportation rule

Arabs slam Israel's West Bank deportation rule

The Arab League and Syria have slammed Israel's new orders that could lead to the expulsion of many Palestinians from the West Bank, describing them as 'ethnic cleansing.' Under the new rules, anyone caught living in the West Bank without an Israeli permi
Published 13 Apr, 2010 12:00am
World Bank calls on Israel to ease West Bank restrictions

World Bank calls on Israel to ease West Bank restrictions

The World Bank warned on Monday that continued economic growth in the occupied West Bank would depend on Israel taking further steps to lift restrictions on movement. "The fiscal position of the (Palestinian Authority) remains precarious. Despite evidence
Published 13 Apr, 2010 12:00am
Dollar Libor rises to highest in seven months

Dollar Libor rises to highest in seven months

A benchmark rate banks charge one other for dollars topped 0.3 percent for the first time since September as robust data fanned expectations the Federal Reserve could hike rates sooner than expected. The London interbank offered rate on three-month dollar
Published 13 Apr, 2010 12:00am
Sterling slides versus euro

Sterling slides versus euro

Sterling fell against the euro on Monday, retreating from a seven-week high as the single European currency gained after eurozone finance ministers agreed a standby rescue package for debt-ridden Greece. Despite its losses against the euro, the pound hit
Published 13 Apr, 2010 12:00am
Swiss franc weaker

Swiss franc weaker

The Swiss franc lost ground against the euro on Monday as previously wary investors bought back into the single currency after euro zone finance ministers agreed a rescue package for Greece. Swiss franc trading would be determined by risk appetite related
Published 13 Apr, 2010 12:00am
Euro climbs in London

Euro climbs in London

The euro hit its highest in nearly a month against the dollar on Monday after eurozone finance ministers agreed a rescue package for Greece, but further gains were limited on cautionary comments from Germany. The ministers approved a 30 billion euro ($40.
Published 13 Apr, 2010 12:00am
Speakers for acquisition of civil nuclear technology

Speakers for acquisition of civil nuclear technology

The speakers at PINA seminar on "Pak US Dialogue - Challenges and Expectations", held in Lahore felt that the outcome of the dialogue was strategically insignificant. They impressed upon the Prime Minister of Pakistan, on his visit to the US, to gracefull
Published 13 Apr, 2010 12:00am
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