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Print - 2010-09-05
Asian mills eye more wheat cargoes as prices rise

Asian mills eye more wheat cargoes as prices rise

Asian wheat buyers are likely to step up purchases in the weeks ahead on growing fears of higher prices after Russia's move to extend a ban on grain exports lifted US wheat futures for a third straight day. Flour millers in Asia have snapped up around 180
Published 05 Sep, 2010 12:00am
Torture of journalist: LHC takes suo motu notice, summons IGP

Torture of journalist: LHC takes suo motu notice, summons IGP

Chief Justice Lahore High Court Khawaja Muhammad Sharif on Saturday took suo motu notice of torture on journalist Umar Cheema and summoned Islamabad inspector general police for Monday next. Taking notice of the incident the chief justice observed that to
Published 05 Sep, 2010 12:00am
Prime Minister condemns torture of journalist

Prime Minister condemns torture of journalist

Prime Minister Syed Yousuf Raza Gilani has strongly condemned the kidnapping and torture of journalist Umar Cheema, Reporter of Daily "The News" by unknown culprits in Islamabad. The Prime Minister directed the Minister for Interior for thorough investiga
Published 05 Sep, 2010 12:00am
PIAF-Founders Alliance to start campaign for LCCI election

PIAF-Founders Alliance to start campaign for LCCI election

The PIAF-Founders Alliance has chalked out a comprehensive programme to visit different markets in the city in connection with the Lahore Chamber of Commerce and Industry's election campaign. The elections for the 37 seats in the Corporate Class and Assoc
Published 05 Sep, 2010 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

The National Assembly convened to discuss the floods situation was prorogued sine die here on Saturday without doing any significant business. One wonders as to what was the point of wasting taxpayer money on the three-day meaningless session at the name
Published 05 Sep, 2010 12:00am
Seminar on 'Dynamics of Aid and Militant Charities' held

Seminar on 'Dynamics of Aid and Militant Charities' held

Defence Analyst Dr Ayesha Siddiqa said that some segments in power corridors have soft corner with the banned outfits that's why they are openly working in the flood affected areas. She also said that in the far-flung flood affected areas of Southern Punj
Published 05 Sep, 2010 12:00am
Tension abounds in Quetta as bombing victims buried

Tension abounds in Quetta as bombing victims buried

The city of Quetta was tense on Saturday as the victims of the Friday suicide bombing were buried. Police were on high alert Saturday while businesses and educational institutions were closed and vehicles stayed off the roads after a call for three days o
Published 05 Sep, 2010 12:00am
Newspaper holidays on Eid

Newspaper holidays on Eid

Samad Ali, Secretary-General of All Pakistan Newspapers Society, has announced that member publications of APNS will observe two closed holidays on account of Eid-ul-Fitr. The schedule of Eid holidays is as under:
Published 05 Sep, 2010 12:00am
TI Pakistan seeks value of Bahria Town chief's assets

TI Pakistan seeks value of Bahria Town chief's assets

Transparency International Pakistan has requested the Chairman of the Federal Board of Revenue (FBR) to provide information on total value of assets of Bahria Town Chairman Malik Riaz as assessed by FBR in accordance with Income Tax Ordinance 2001.
Published 05 Sep, 2010 12:00am
UN-WFP plans to feed 6 million flood victims this month

UN-WFP plans to feed 6 million flood victims this month

The United Nations World Food Programme (WFP) has planned to feed over 6 million flood-affected people during the current month, which would require 780,000 tonnes of grains. In a letter written to National Disaster Management Authority (NDMA), WFP said t
Published 05 Sep, 2010 12:00am
Six notorious gangs busted, 27 criminals held

Six notorious gangs busted, 27 criminals held

In its operation against the criminals, Islamabad Police have busted six notorious gangs and arrested 27 outlaws criminals involved in blind murders, dacoities, snatching valuables at gun point and selling fake gold to the simpletons and recovered arms an
Published 05 Sep, 2010 12:00am
Prime Minister vows stern action against timber mafia

Prime Minister vows stern action against timber mafia

Prime Minister Syed Yousuf Raza Gilani on Saturday affirmed to sternly deal with timber mafia in the country to save valuable forests. "Forests are our asset and we need to save them. Let us realise our responsibilities," the Prime Minister said in Nation
Published 05 Sep, 2010 12:00am
Terrorist attacks in Quetta, Lahore widely condemned

Terrorist attacks in Quetta, Lahore widely condemned

Condemning the blast at a procession taken out in connection with Al-Quds day in Quetta, leaders of various political parties on Saturday said anti-state elements want to create anarchy in the country while the government has once again failed to provide
Published 05 Sep, 2010 12:00am
Low paid government servants still denied increase in salaries

Low paid government servants still denied increase in salaries

Despite announcement of increase in salaries of low paid wagers by the federal government, followed in suit by the provincial governments, there are thousands of workers in provincial as well as federal governments, whose income have still not been enhanc
Published 05 Sep, 2010 12:00am
CJP for futuristic plan of Federal Judicial Academy

CJP for futuristic plan of Federal Judicial Academy

Chief Justice Iftikhar Muhammad Chaudhry on Saturday advised for a futuristic plan for Phase-II construction of Federal Judicial Academy (FJA) so that the Academy could be converted into a 'centre of excellence' or 'Law University' of unique order.
Published 05 Sep, 2010 12:00am
Declining purchasing power hits Eid shopping

Declining purchasing power hits Eid shopping

Rising inflation and declining purchasing power of public has hit Eid shopping adversely. Every year a large number of Eid Bachat bazaars are set up at different places but this year only Site Association of Industry organised a Bachat bazaar which also f
Published 05 Sep, 2010 12:00am
Tax return e-filing: KCCI demands extension in deadline

Tax return e-filing: KCCI demands extension in deadline

President, Karachi Chamber of Commerce and Industry (KCCI) Abdul Majid Haji Mohammad and Chairman Taxation Sub-committee, Qamar Usman have demanded that the date of e-filing income tax return should be extended for at-least 30 days, up to October 31 in vi
Published 05 Sep, 2010 12:00am
Obama authorises $33 million for Pakistan flood refugees

Obama authorises $33 million for Pakistan flood refugees

President Barack Obama has authorised provision of $33 million to help alleviate sufferings of Pakistanis displaced by the unprecedented flooding that has pushed millions out of their homes. The money will come from the United States Emergency Refugees an
Published 05 Sep, 2010 12:00am
Gold prices down

Gold prices down

Gold prices on Saturday declined to Rs 39,550 per tola and Rs 33,900 per 10 gram here, traders told Business Recorder. "Gold is now available for Rs 39,550 per tola, down from Rs 39,700, and Rs 33,900 per 10 gram, down from Rs 34,074, falling by Rs
Published 05 Sep, 2010 12:00am
NH&MP officers killed in road accident

NH&MP officers killed in road accident

Three senior officers of National Highways & Motorway Police (NH&MP) were martyred in a road accident at Jamber near Lahore on Saturday at 1308 hrs. The regretful incident took place when SPOs Muhammad Qasim, Adnan Gul and Rana Imtiaz of motorway police,
Published 05 Sep, 2010 12:00am
Widespread rains likely in many parts of country

Widespread rains likely in many parts of country

The Meteorological department has predicted scattered to fairly widespread thundershower with isolated heavy falls over Punjab, Khyber Pakhtunkhwa, Northeast Balochistan, Gilgit-Baltistan, and Kashmir during next 48 hours. Met office Lahore issued the nat
Published 05 Sep, 2010 12:00am
Iranian team calls on Zardari

Iranian team calls on Zardari

A visiting Iranian delegation led by Interior Minister, Mostafa Najjar, called on President Asif Ali Zardari at Bilawal House here on Saturday evening. They discussed bilateral relations between the two countries and specially the situation developed by t
Published 05 Sep, 2010 12:00am
LHC Eid holidays

LHC Eid holidays

Lahore High Court Chief Justice, Khawaja Muhammad Sharif has announced Eid holidays to be observed by the court. According to a notification issued here on Saturday, the CJ approved that LHC principal seat, its allied benches of Bahawalpur, Multan and Raw
Published 05 Sep, 2010 12:00am
Sugar rises to Rs 80 per kg

Sugar rises to Rs 80 per kg

Sugar prices continued upward trend in the wholesale market and touched the mark of Rs 80 per kg on Saturday against Rs 78.40 per kg of Friday. According to dealers from Akbari Mandi, prices of 100 kg bag reached rose to Rs 7980 to 8000 per bag on Saturda
Published 05 Sep, 2010 12:00am
Jamaat-i-Islami observes 'World Hijab Day'

Jamaat-i-Islami observes 'World Hijab Day'

Jamaat-i-Islami (JI) Lahore Women Wing observed 'International Day of Hijab' that aimed at highlighting the importance of Hijab, promoting Islamic culture and civilisation and condemning ban on the Islamic veil by the so-called democratic societies of the
Published 05 Sep, 2010 12:00am
Aptma's elections on September 6

Aptma's elections on September 6

All Pakistan Textile Mills Association (Aptma) is all set to hold annual elections on Monday (tomorrow). As many as 182 members of mills' representatives would cast their votes to elect members of Zonal Managing Committee (ZMC) for 2010-11. Further, zonal
Published 05 Sep, 2010 12:00am
Railways to operate special trains on Eid

Railways to operate special trains on Eid

Pakistan Railways (PR) will operate five Eid special trains to meet rush of passengers leaving for upcountry destinations to celebrate Eid-ul-Fitr with their loved ones. Officials of Pakistan Railways informed APP that a train from Karachi would depart on
Published 05 Sep, 2010 12:00am
Zero tolerance be showed to terrorists: Taseer

Zero tolerance be showed to terrorists: Taseer

Governor Punjab Salmaan Taseer here on Saturday visiting injured of recent terrorist acts in Services Hospital stated that terrorists were beasts and were playing havoc with lives of innocent people. He said that it was pathetic that those people were inv
Published 05 Sep, 2010 12:00am
100 more Indian fishermen released

100 more Indian fishermen released

As many as 100 Indian fishermen who have been released after completing their sentence would be handed over to the Indian authorities at Wahgha Border on Sunday (today). Out of 442 fishermen who are facing imprisonment in different jails in the Sindh prov
Published 05 Sep, 2010 12:00am
BISE holds awards distribution ceremony

BISE holds awards distribution ceremony

Government College University (GCU) students were in the spotlight during the announcement of the results of the Lahore Board of Intermediate and Secondary Education (BISE) annual examinations for intermediate classes (11 and 12) on Saturday. GCU student
Published 05 Sep, 2010 12:00am
BISE Gujranwala declares result

BISE Gujranwala declares result

The Board of Intermediate and Secondary Education (BISE) Gujranwala has announced the result of the intermediate annual examination 2010 here on Saturday. Students of Punjab Group of Colleges got first three positions. Muhammad Hamza, roll no. 111776 of P
Published 05 Sep, 2010 12:00am
Ulema urged to forge unity among their ranks

Ulema urged to forge unity among their ranks

District co-ordination Officer (DCO) Naseem Sadiq has urged ulema to forge unity among their ranks to foil the nefarious designs of terrorists. He said that the sentiments of the religious harmony, brotherhood, fraternity and national solidarity should be
Published 05 Sep, 2010 12:00am
Loadshedding intensified as shortfall touches 2,000 megawatts

Loadshedding intensified as shortfall touches 2,000 megawatts

Power breakdowns kept on testing consumers' patience during last 24 hours as power shortfall reached the alarming level of 2,000MWs. Repeated breakdowns irked the consumers at large and the treasury and opposition benches in Khyber-Pakhtunkhwa Assembly st
Published 05 Sep, 2010 12:00am
PPP losing support among flood victims

PPP losing support among flood victims

A month after Pakistan's worst natural disaster, those most affected have lost almost everything they had. But the ruling political party is losing things too: It is losing the poor's vote. In Mehmood Kot, 40 km (25 miles) east of Multan in southern Punja
Published 05 Sep, 2010 12:00am
'Convening all parties conference a good omen'

'Convening all parties conference a good omen'

Punjab Minister for Irrigation Raja Riaz Ahmad has termed the decision of the Prime Minister for convening all parties conference for rehabilitation of flood affectees a good omen as a result of which a unanimous policy between the provinces could be evol
Published 05 Sep, 2010 12:00am
ChenOne to set up relief camps at its stores: fund established

ChenOne to set up relief camps at its stores: fund established

Mian Muhammad Kashif Ashfaq, Chief Executive, ChenOne Stores has announced to establish relief camps at their chain of stores in Pakistan and abroad for helping the flood-affectees. He said that for this noble cause, the company has established 'Chen-One
Published 05 Sep, 2010 12:00am
Malaysia mulling reconstruction of villages, infrastructure: HC

Malaysia mulling reconstruction of villages, infrastructure: HC

The High Commissioner of Malaysia to Pakistan, Dato' Ahmad Anwar Bin Adnan has said that the government of Malaysia is considering reconstruction of some flood-affected villages and damaged infrastructure in Pakistan. Addressing a news conference here at
Published 05 Sep, 2010 12:00am
17 Sindh districts declared calamity-hit areas

17 Sindh districts declared calamity-hit areas

Government of Sindh has declared 17 districts of the province as calamity-hit due to the losses and devastation wreaked by the recent floods and torrential rains. A notification released by Sindh Relief Department here on Saturday has given details of the
Published 05 Sep, 2010 12:00am
OGDCL distributes dry rations among flood-hit families

OGDCL distributes dry rations among flood-hit families

The Oil & Gas Development Company Limited (OGDCL) has distributed dry ration among 200 flood affected families in the Sindh Province. Abdul Qadir Soomro Executive District Officer Revenue Ghotaki and Abdul Majeed Field Manager of Qadirpur distributed 26kg
Published 05 Sep, 2010 12:00am
Prime Minister says he will celebrate Eid with flood victims

Prime Minister says he will celebrate Eid with flood victims

Prime Minister Yousuf Raza Gilani on Saturday announced to celebrate Eid with flood affected people. During his policy statement in the National Assembly on flood situation, the Prime Minister also announced not to hold 'Darbar' at the Prime Minister Hous
Published 05 Sep, 2010 12:00am
Prime Minister fund gets Rs 10 million through SMS

Prime Minister fund gets Rs 10 million through SMS

Prime Minister's Flood Relief Fund has received Rs 10 million through Short Messaging Service (SMS). Prime Minister Yousuf Raza Gilani informed National Assembly on Saturday that Rs four billion assistance for flood victims has been deposited to PM's Reli
Published 05 Sep, 2010 12:00am
UN to extend relief programme to three to six months: official

UN to extend relief programme to three to six months: official

Punjab Chief Minister Shahbaz Sharif here on Saturday said Pakistan has been witnessing the worst flooding of its history as the situation has wreaked havoc in the country. Talking to a delegation of United Nations headed by UN resident co-ordinator in Pa
Published 05 Sep, 2010 12:00am
Dr Samar warns of more floods if preventive measures not adopted

Dr Samar warns of more floods if preventive measures not adopted

Unprecedented floods may occur every year due to global warming and if more dams are not built and precautionary measures not adopted, these could be more disastrous than this year, warned renowned nuclear scientist Dr Samar Mubarak Mand in an interview.
Published 05 Sep, 2010 12:00am
'Media's timely reporting helped in relief work'

'Media's timely reporting helped in relief work'

Media's timely reporting helped towards the relief and rescue work, said Sindh Governor, Dr Ishrat- ul- Ebad Khan here on Saturday. He was talking to editors, senior journalists and television anchors at the Governor House. The Governor said that the medi
Published 05 Sep, 2010 12:00am
MPA, PGTA present cheques of Rs 2.6 million to Shahbaz

MPA, PGTA present cheques of Rs 2.6 million to Shahbaz

Member Punjab Assembly Asif Saeed Minhais and office-bearers of Pakistan Goods Transporters Association(PGTA) called on Punjab Chief Minister Shahbaz Sharif on Saturday and presented him cheques of Rs 2.6 million for relief and rehabilitation of flood-aff
Published 05 Sep, 2010 12:00am
Targeted killings in Karachi

Targeted killings in Karachi

Over the years, Karachi has experienced periodic spasms of uncontrollable violence, marked by brutal targeted killings. The most favoured mode has been the drive-by shootings, with the killers invariably remaining untraced.
Published 05 Sep, 2010 12:00am
Report on lynching of brothers

Report on lynching of brothers

Former Justice Kazim Malik's report on the death of two brothers at the hands of a mob in Sialkot city last month, largely vindicates the public perception that the local administration, particularly the police, had connived in stage-managing the gruesome
Published 05 Sep, 2010 12:00am
Socio-economic implications of flood crisis

Socio-economic implications of flood crisis

Pakistan's worst ever flooding disaster has damaged twenty percent area of the country, which is roughly equal to the size of England. It affected twenty million peoples, intensified the energy crisis and may create fears of social unrest in the near futu
Published 05 Sep, 2010 12:00am
Need for more power!

Need for more power!

The present energy crisis started with power generation experiencing difficulties in meeting the demand of the country in early 2004. The gap between supply and demand kept increasing till it became acute and unmanageable in late 2007. Therefore, PEPCO ha
Published 05 Sep, 2010 12:00am
Gems and jewellery sector: Opportunities and way forward

Gems and jewellery sector: Opportunities and way forward

The gems and jewellery sector can play a vital role in economy of Pakistan, contributing immensely in earning of foreign exchange and providing employment opportunities. Pakistan has enormous wealth of expensive gems such as ruby, emerald, tourmaline, gar
Published 05 Sep, 2010 12:00am
Busted by lust

Busted by lust

The match-fixing scandal has been the licentious scandal ever in the entire history of Pakistan cricket team. The whole nation watched in astonishment as the News Channels showed the video of the match fixer taking the whopping amount of £150,000 for rigg
Published 05 Sep, 2010 12:00am
Gold loses sparkle after upbeat US data

Gold loses sparkle after upbeat US data

Gold prices soared close to a record high this week, boosted by the precious metal's safe-haven status. But gold lost its shine after an upbeat US data softened fears about the global economic outlook. Official data showed Friday that the American economy
Published 05 Sep, 2010 12:00am
Cotton biggest gainer in August

Cotton biggest gainer in August

Cotton topped the list of best-performing commodities in August as speculators piled into a market they saw as oversold, while corn and silver emerged as the next-biggest gainers and natural gas the main loser. Cotton finished the month up nearly 10 perce
Published 05 Sep, 2010 12:00am
China cotton prices to stay high in 2010-11

China cotton prices to stay high in 2010-11

China's cotton prices will remain high in the new 2010/11 crop year although the output in its biggest producing area is likely to rise, the China Cotton Association said in a report published on its website on Thursday.
Published 05 Sep, 2010 12:00am
Global 2010-11 cotton prices seen up 15 percent - ICAC

Global 2010-11 cotton prices seen up 15 percent - ICAC

Global cotton prices could jump 15 percent in 2010/11 as demand recovers and world stocks remain tight, an international farm group said on Wednesday. The International Cotton Advisory Committee secretariat said in a monthly report that cotton prices coul
Published 05 Sep, 2010 12:00am
World market price for upland cotton

World market price for upland cotton

The US Agriculture Department set the prevailing world market price for upland cotton at 76.94 cents per lb, effective through September 9. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton.
Published 05 Sep, 2010 12:00am
Uganda coffee crop seen up 13 percent

Uganda coffee crop seen up 13 percent

Uganda expects its 2010-11 (October-September) coffee output to be 3.1 million 60-kg bags, compared with 2.7 million bags in 2009-10, lifted by good weather, a source at the Uganda Coffee Development Authority said on Friday. The east African country is o
Published 05 Sep, 2010 12:00am
US tanker award date becomes more uncertain

US tanker award date becomes more uncertain

The target date for the much-delayed award of a possible $50 billion US Air Force refuelling-plane deal just got murkier, and potentially more politicised. No longer is mid-November necessarily the moment of truth in the rematch pitting Chicago-based Boei
Published 05 Sep, 2010 12:00am
Obama says his economic policies halted 'bleeding'

Obama says his economic policies halted 'bleeding'

President Barack Obama, previewing a big push on the US economy next week, on Saturday defended policies that he said "have stopped the bleeding" and put the middle class on the road to recovery. Obama, struggling to bring down the 9.6 percent jobless rat
Published 05 Sep, 2010 12:00am
Japanese finance minister warns on yen, suggests joint steps difficult

Japanese finance minister warns on yen, suggests joint steps difficult

Japanese Finance Minister Yoshihiko Noda said on Saturday Tokyo would take decisive steps to stem the yen's rise when needed, while suggesting that co-ordinated currency market intervention was a difficult option. Traders are getting cautious about biddin
Published 05 Sep, 2010 12:00am
China car market unlikely to sustain breakneck growth

China car market unlikely to sustain breakneck growth

China's car market will continue to grow this year but may not sustain the breakneck pace of last year, the chief executive of Ford Motor's China car venture said on Saturday. "Overall this year versus last year, there will still be growth. First quarter
Published 05 Sep, 2010 12:00am
UN chief warns world must not derail millennium goals

UN chief warns world must not derail millennium goals

UN Secretary-General Ban Ki-moon warned Saturday the world must devote the same resources to meeting the Millennium Development Goals (MDGs) as it did to tackling the global economic crisis. "If the world can mobilise 20 trillion dollars (15 trillion euro
Published 05 Sep, 2010 12:00am
Poland central bank head says still in wait-and-see mode

Poland central bank head says still in wait-and-see mode

Poland's central bank is in a wait-and-see mode regarding interest rates and its governor sees no clear signs of inflationary pressure, he said on Saturday. Poland's economy grew faster than expected in the second quarter, driven by stronger domestic dema
Published 05 Sep, 2010 12:00am
Lufthansa may pay dividend, no capital hike: CFO

Lufthansa may pay dividend, no capital hike: CFO

Lufthansa is not planning a capital increase in 2010, Chief Financial Officer Stephan Gemkow told a newspaper, adding that shareholders are likely to receive dividends this year after losing out in 2009. "There is currently little appetite for a capital i
Published 05 Sep, 2010 12:00am
Nissan is open to China green car alliance

Nissan is open to China green car alliance

Nissan Motor is open to a green car alliance with Chinese automakers, a senior executive said on Saturday, as it moves to tap the fledgling industry in the world's largest auto market. Nissan, 44 percent held by Renault SA, is joining General Motors and o
Published 05 Sep, 2010 12:00am
Anglo Irish Bank to be 'decommissioned'

Anglo Irish Bank to be 'decommissioned'

Nationalised Anglo Irish Bank will be "decommissioned", with a decision on its fate expected within a few weeks, a junior government minister was quoted on Saturday as saying. The comments by Conor Lenihan, a minister of state in charge of science, techno
Published 05 Sep, 2010 12:00am
US inflation pressure rises in August: ECRI

US inflation pressure rises in August: ECRI

A monthly measure of potential US future inflation rose in August but continued to signal muted pressure, a research group said on Friday. The Economic Cycle Research Institute's US Future Inflation Gauge (USFIG), designed to anticipate cyclical swings in
Published 05 Sep, 2010 12:00am
Toyota keen on Japan production despite yen rise

Toyota keen on Japan production despite yen rise

Toyota Motor Corp wants to keep building cars in Japan for domestic sales even though the yen's recent rise is tough for business, the company president was quoted by a Japanese newspaper as saying on Saturday. "The current situation is very tough," Toyot
Published 05 Sep, 2010 12:00am
Liberia seeks hydro revamp from mining investors

Liberia seeks hydro revamp from mining investors

Mining firms Vale of Brazil and Israeli-owned BSGR are to help Liberia in the West African state's bid to raise its power production from virtually nothing to 1,000 megawatts, the minister involved said. Lands, Mines and Energy Minister Eugene Shannon als
Published 05 Sep, 2010 12:00am
Tech executives at odds on strength of European recovery

Tech executives at odds on strength of European recovery

Top executives of consumer electronic companies, gathered at a trade fair, offer differing opinions about the sustainability a European economic upswing. "As far as looking at Europe we have seen good development," navigation device maker Navigon Chief Ex
Published 05 Sep, 2010 12:00am
'Opec may be driven to cut oil supply in 2011'

'Opec may be driven to cut oil supply in 2011'

Opec may be spurred to reduce oil supplies next year because of signs of a slowing global economy and stronger-than-expected supply from rival producers, consulting firm PFC Energy said. The views held by some in the Organisation of the Petroleum Exportin
Published 05 Sep, 2010 12:00am
Maybank aims to grow share of Islamic banking financing

Maybank aims to grow share of Islamic banking financing

Maybank, Malaysia's biggest lender, aims to grow the share of Islamic financing to 33 percent of total lending by 2015 from 24 percent in March, as such lending is outpacing growth seen in conventional banking. The growth will largely be driven by the Mal
Published 05 Sep, 2010 12:00am
China tells state firms to explore Potash bid

China tells state firms to explore Potash bid

Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said. In response to the directive, Sinochem is holding meeting
Published 05 Sep, 2010 12:00am
Euribor rates dip after ECB extends lending support

Euribor rates dip after ECB extends lending support

Key euro interbank lending rates fell to six-week lows on Friday, a day after the European Central Bank said it would continue pumping out unlimited cash until at least mid-January. The three-month Euribor rate - traditionally the main gauge of unsecured
Published 05 Sep, 2010 12:00am
Forex outlook: high-yield currencies seen bid in week ahead

Forex outlook: high-yield currencies seen bid in week ahead

Higher-yielding currencies are likely to get a boost next week after a stronger-than-expected US employment report raised hopes about the US economic recovery, prompting a rise in risk tolerance. The dollar may rise against the yen, but the euro and other
Published 05 Sep, 2010 12:00am
Taiwan dollar near two-week high

Taiwan dollar near two-week high

The Taiwan dollar strengthened for a third session on Friday to a nearly two-week high, tracking global markets higher as solid US economic data bolstered investors' risk appetites. The Taiwan dollar ended at T$32.018 against the US dollar, up from its Th
Published 05 Sep, 2010 12:00am
IMM speculators trim bets against dollar

IMM speculators trim bets against dollar

Currency speculators trimmed bets against the US dollar in the latest week, data from the Commodity Futures Trading Commission showed on Friday. The value of the dollar's net short position shrank to $7.1 billion in the week ended August 31, down from a n
Published 05 Sep, 2010 12:00am
Dollar falls versus euro

Dollar falls versus euro

The US dollar fell against most foreign currencies on Friday after a surprisingly strong non-farm payroll report eased worries about the outlook for the economy and boosted appetite for riskier assets. The safe-haven yen and Swiss franc weakened broadly,
Published 05 Sep, 2010 12:00am
Canadian dollar hits two-week high

Canadian dollar hits two-week high

The Canadian dollar rallied to a two-week high against the greenback on Friday, climbing more than a penny, after an upside surprise in US job data increased expectations Canadian interest rates will rise next week. US employment fell for a third straight
Published 05 Sep, 2010 12:00am
Kenyan shilling steady

Kenyan shilling steady

Kenya's shilling held steady against the dollar on Friday in subdued trading ahead of the weekend, while stocks fell on the Nairobi Stock Exchange. The leading commercial banks quoted the shilling at 80.75/85 to the dollar, from 80.70/80 at Thursday's clo
Published 05 Sep, 2010 12:00am
Options shows bets for short-term dollar/yen bounce

Options shows bets for short-term dollar/yen bounce

Demand for short-dated options to buy dollar/yen has risen this week, suggesting investors are keen to protect their short dollar positions against sudden bounces even though they see the greenback staying weak. Having built up short dollar/yen positions
Published 05 Sep, 2010 12:00am
PFF chief's efforts for Asian Games football hailed

PFF chief's efforts for Asian Games football hailed

Former National Soccer team skippers, Ghulam Rabbani, Sharafat Ali, Haroon Yousuf, Jaffar Khan, Zahid Hameed, Tanveer Ahmed, Zafar Iqbal, Shaukat Mufti and Imtiaz Butt have hailed Pakistan Football Federation (PFF)'s President Faisal Saleh Hayat for takin
Published 05 Sep, 2010 12:00am
Football for Hope Centre opens in Nairobi

Football for Hope Centre opens in Nairobi

FIFA's ambitious project to construct youth centres as a lasting legacy to hosting the first World Cup in Africa continued with the opening of the second Football for Hope Centre in Nairobi on Saturday. The centre, which boasts an artificial football pitc
Published 05 Sep, 2010 12:00am
Japan beat Paraguay 1-0 for World Cup payback

Japan beat Paraguay 1-0 for World Cup payback

Japan went some way to avenging their World Cup exit this year by beating Paraguay 1-0 thanks to a second-half Shinji Kagawa goal on Saturday. With new Japan coach Alberto Zaccheroni watching from the stands, Kagawa's clinical 64th-minute finish proved th
Published 05 Sep, 2010 12:00am
New format may hurt World Cup chances: Ponting

New format may hurt World Cup chances: Ponting

Australia captain Ricky Ponting believes the new domestic one-day format could damage the World Cup preparations of fringe players. In a radical departure from the conventional 50-over game, Cricket Australia (CA) recently announced it will trial a 45-ove
Published 05 Sep, 2010 12:00am
Turkmenistan to invest $1.9 billion in 'Olympic City'

Turkmenistan to invest $1.9 billion in 'Olympic City'

Turkmenistan said on Saturday that it planned to invest an initial $1.9 billion to build a new "Olympic City" sports facility, although the ex-Soviet Central Asian republic has not announced any plans to bid for the games. A government official who declin
Published 05 Sep, 2010 12:00am
Weakened storm Earl bears down on Atlantic Canada

Weakened storm Earl bears down on Atlantic Canada

Tropical storm Earl, a mere shadow of the massive hurricane that frightened the US East Coast this week, lashed Atlantic Canada on Saturday with high winds, waves and driving rain. The core of the storm was expected to hit the Nova Scotia coast by mid mor
Published 05 Sep, 2010 12:00am
Effective Management of SIM Issue

Effective Management of SIM Issue

Background: Economy is the backbone of a country's progression and development. Different sectors play their vital role in overall Gross Domestic Products (GDP) growth. In Pakistan, no doubt, the telecommunication sector has played a vital r
Published 05 Sep, 2010 12:00am
Top Iranian cleric rejects Holocaust as 'superstition'

Top Iranian cleric rejects Holocaust as 'superstition'

A senior Iranian cleric, Grand Ayatollah Nasser Makarem Shirazi, dismissed the Nazi Holocaust of Jews during World War II as a new "superstition" for the West, media reported on Saturday. "The Holocaust is nothing but superstition, but Zionists say that p
Published 05 Sep, 2010 12:00am
Two Mexican congressmen die in plane crash

Two Mexican congressmen die in plane crash

Two members of Mexico's Congress were among six people killed on Friday when their private plane crashed near a popular Mexican Pacific beach resort, officials said. Guillermo Zavaleta and Juan Huerta, members of President Felipe Calderon's National Actio
Published 05 Sep, 2010 12:00am
Nato soldier killed

Nato soldier killed

A US soldier in southern Afghanistan has died after an insurgent attack in the most volatile part of the country, Nato said Saturday.
Published 05 Sep, 2010 12:00am
Nine dead as plane crashes in New Zealand

Nine dead as plane crashes in New Zealand

Nine people have died after a light aircraft used for skydiving crashed in New Zealand's South Island, police said on Saturday. Greymouth police Allyson Ealam said the pilot and four men from Fox Glacier and four tourists from Ireland, England, Germany an
Published 05 Sep, 2010 12:00am
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