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Print - 2010-10-03
PDC to be set up in Sialkot

PDC to be set up in Sialkot

Federal government is actively considering establishing Product Development Centre (PDC) for composite-based sports goods industries of Sialkot. Official sources told APP here on Saturday that the objectives of setting up the product development centre wa
Published 03 Oct, 2010 12:00am
Musharraf calls Nawaz 'totally brainless'

Musharraf calls Nawaz 'totally brainless'

Former president Pervez Musharraf while addressing a gathering in Birmingham (England) on Saturday called Pakistan Muslim League-N Chief Nawaz Sharif 'totally brainless', a private TV channel said. The channel quoted him as saying that Nawaz Sharif got el
Published 03 Oct, 2010 12:00am
Qureshi to meet Nato chief

Qureshi to meet Nato chief

Nato chief Anders Fogh Rasmussen will meet with Foreign Minister Shah Mehmood Qureshi on Monday, the alliance said, amid a row over a Nato helicopter strike inside Pakistan. Qureshi will visit the transatlantic alliance's headquarters in Brussels on the s
Published 03 Oct, 2010 12:00am
Al Meezan announces interim dividend for MIIF, MCF, MSF

Al Meezan announces interim dividend for MIIF, MCF, MSF

Al Meezan Investment Management Limited (Al Meezan) is pleased to announce the first interim dividends for its three fixed income funds: Meezan Islamic Income Fund (MIIF) - Rs 1.50 per unit, Meezan Cash Fund (MCF) - Rs 1.225 per unit and Meezan Sovereign
Published 03 Oct, 2010 12:00am
Al Meezan announces interim dividend for MIIF, MCF, MSF

Al Meezan announces interim dividend for MIIF, MCF, MSF

Al Meezan Investment Management Limited (Al Meezan) is pleased to announce the first interim dividends for its three fixed income funds: Meezan Islamic Income Fund (MIIF) - Rs 1.50 per unit, Meezan Cash Fund (MCF) - Rs 1.225 per unit and Meezan Sovereign
Published 03 Oct, 2010 12:00am
Taskforce set up to ensure provision of gas, oil to power plants

Taskforce set up to ensure provision of gas, oil to power plants

Minister for Water and Power, Raja Pervez Ashraf has established a three-member taskforce to ensure provision of supplies to power plants in order to keep power generation intact. The taskforce is directed to submit a comprehensive report to the ministry
Published 03 Oct, 2010 12:00am
TI Pakistan seeks NODMC cooperation in PPR compliance

TI Pakistan seeks NODMC cooperation in PPR compliance

Transparency International Pakistan has sought assistance of National Oversight Disaster Management Council (NODMC) to ensure full compliance of Public Procurement Rules (PPR)-2004 in the utilisation of funds for flood relief, rehabilitation and reconstru
Published 03 Oct, 2010 12:00am
SBI to establish Fisheries Special Economic Zone: Motiwala

SBI to establish Fisheries Special Economic Zone: Motiwala

Sindh Board of Investment (SBI) is going to establish Fisheries Special Economic Zone, where fish, shrimp and crabs farms would be established to augment the country's seafood export, besides encouraging SME sector.
Published 03 Oct, 2010 12:00am
Problems at Kenyan ports: rice exporters leaving for Kenya on October 4

Problems at Kenyan ports: rice exporters leaving for Kenya on October 4

A seven member delegation of Rice Exporters Association of Pakistan (REAP) is leaving for Kenya on Monday to resolve the burning issues at Kenyan Ports being faced by Pakistani rice exporters during last couple of months. The delegation led by Rafique Sul
Published 03 Oct, 2010 12:00am
Used lube oil scam fame official gets lucrative job in Food Ministry

Used lube oil scam fame official gets lucrative job in Food Ministry

A top government official, who reportedly played the central role in Commerce Ministry's used furnace oil/lube oil scam, has been given another lucrative post in the Ministry of Food and Agriculture after spending several months without any posting, sourc
Published 03 Oct, 2010 12:00am
Standard of education: district administrator expresses dissatisfaction

Standard of education: district administrator expresses dissatisfaction

District Administrator Tando Muhammad Khan, Ali Ahmed Lund has expressed his dissatisfaction over the standard of education and attendance of teachers and students in the schools and has directed the officers concerned to keep strict vigilance and ensure
Published 03 Oct, 2010 12:00am
Substantial rise in kitchen items' prices

Substantial rise in kitchen items' prices

The prices of essential kitchen items increased substantially this week over last week, according to a survey carried out by Business Recorder on Saturday. The survey data showed that kitchen items, including vegetables, meat, chicken, fruits, puls
Published 03 Oct, 2010 12:00am
Mauretani behind attacks plot: report

Mauretani behind attacks plot: report

An al Qaeda plot to launch Mumbai-style attacks on European cities was planned by the group's number three leader with Osama bin Laden's support, the German weekly Der Spiegel reported Saturday.
Published 03 Oct, 2010 12:00am
Mauretani behind attacks plot: report

Mauretani behind attacks plot: report

An al Qaeda plot to launch Mumbai-style attacks on European cities was planned by the group's number three leader with Osama bin Laden's support, the German weekly Der Spiegel reported Saturday.
Published 03 Oct, 2010 12:00am
In border row, Pakistan shows US vulnerability

In border row, Pakistan shows US vulnerability

The United States and Pakistan have never had an easy partnership, but despite heated feuds on everything from drone attacks to terror plots, the two governments have found a way to work together. Now, Pakistan has played what some experts consider the ul
Published 03 Oct, 2010 12:00am
In border row, Pakistan shows US vulnerability

In border row, Pakistan shows US vulnerability

The United States and Pakistan have never had an easy partnership, but despite heated feuds on everything from drone attacks to terror plots, the two governments have found a way to work together. Now, Pakistan has played what some experts consider the ul
Published 03 Oct, 2010 12:00am
Fiscal year 2009-10: WHT collection posts 23.2 percent growth

Fiscal year 2009-10: WHT collection posts 23.2 percent growth

The withholding tax (WHT) collection during fiscal 2009-2010 remained Rs 298.4 billion against Rs 242.1 billion same period last fiscal, reflecting an increase of 23.2 percent. The FBR report on one-year performance of the tax machinery during 2009-2010 i
Published 03 Oct, 2010 12:00am
Fiscal year 2009-10: WHT collection posts 23.2 percent growth

Fiscal year 2009-10: WHT collection posts 23.2 percent growth

The withholding tax (WHT) collection during fiscal 2009-2010 remained Rs 298.4 billion against Rs 242.1 billion same period last fiscal, reflecting an increase of 23.2 percent. The FBR report on one-year performance of the tax machinery during 2009-2010 i
Published 03 Oct, 2010 12:00am
Fiscal year 2009-10: WHT collection posts 23.2 percent growth

Fiscal year 2009-10: WHT collection posts 23.2 percent growth

The withholding tax (WHT) collection during fiscal 2009-2010 remained Rs 298.4 billion against Rs 242.1 billion same period last fiscal, reflecting an increase of 23.2 percent. The FBR report on one-year performance of the tax machinery during 2009-2010 i
Published 03 Oct, 2010 12:00am
Lawyers go on rampage, manhandle media persons

Lawyers go on rampage, manhandle media persons

Lawyers on Saturday went on rampage during their protest against the Lahore High Court Chief Justice for not transferring a District and Session Judge, when police tried to stop them from protesting. The black coats violating Section 144, pelted police wi
Published 03 Oct, 2010 12:00am
Lawyers go on rampage, manhandle media persons

Lawyers go on rampage, manhandle media persons

Lawyers on Saturday went on rampage during their protest against the Lahore High Court Chief Justice for not transferring a District and Session Judge, when police tried to stop them from protesting. The black coats violating Section 144, pelted police wi
Published 03 Oct, 2010 12:00am
PLO urges Abbas to quit peace talks over settlements

PLO urges Abbas to quit peace talks over settlements

The Palestinian leadership on Saturday urged president Mahmud Abbas to quit US-backed peace talks over Israeli settlement construction, his spokesman said. "Our position has not changed. We will not hold negotiations while settlement activity continues,"
Published 03 Oct, 2010 12:00am
PLO urges Abbas to quit peace talks over settlements

PLO urges Abbas to quit peace talks over settlements

The Palestinian leadership on Saturday urged president Mahmud Abbas to quit US-backed peace talks over Israeli settlement construction, his spokesman said. "Our position has not changed. We will not hold negotiations while settlement activity continues,"
Published 03 Oct, 2010 12:00am
Teenager given artificial heart

Teenager given artificial heart

Doctors in Italy implanted an artificial heart into a 15-year-old boy on Saturday, the first time the procedure has been performed on a child, the hospital said. Heart surgeons at Rome's Bambino Gesu Children's Hospital carried out the 10-hour breakthroug
Published 03 Oct, 2010 12:00am
Teenager given artificial heart

Teenager given artificial heart

Doctors in Italy implanted an artificial heart into a 15-year-old boy on Saturday, the first time the procedure has been performed on a child, the hospital said. Heart surgeons at Rome's Bambino Gesu Children's Hospital carried out the 10-hour breakthroug
Published 03 Oct, 2010 12:00am
Prime Minister pledges all possible support to flood-hit people

Prime Minister pledges all possible support to flood-hit people

Prime Minister Yousuf Raza Gilani said on Saturday that political parties might have different perspectives from each other but they were united on the point of mitigating the sufferings of flood-hit people. Addressing a ceremony for distribution of 'Wata
Published 03 Oct, 2010 12:00am
Prime Minister pledges all possible support to flood-hit people

Prime Minister pledges all possible support to flood-hit people

Prime Minister Yousuf Raza Gilani said on Saturday that political parties might have different perspectives from each other but they were united on the point of mitigating the sufferings of flood-hit people. Addressing a ceremony for distribution of 'Wata
Published 03 Oct, 2010 12:00am
French unions up ante with latest pension protest

French unions up ante with latest pension protest

French unions sought Saturday to bring millions onto the streets, shunning strikes for mass protests in their latest salvo against President Nicolas Sarkozy's plan to raise the retirement age. Rallies were held in cities including Saint-Etienne, Clermont-
Published 03 Oct, 2010 12:00am
French unions up ante with latest pension protest

French unions up ante with latest pension protest

French unions sought Saturday to bring millions onto the streets, shunning strikes for mass protests in their latest salvo against President Nicolas Sarkozy's plan to raise the retirement age. Rallies were held in cities including Saint-Etienne, Clermont-
Published 03 Oct, 2010 12:00am
French unions up ante with latest pension protest

French unions up ante with latest pension protest

French unions sought Saturday to bring millions onto the streets, shunning strikes for mass protests in their latest salvo against President Nicolas Sarkozy''s plan to raise the retirement age. Rallies were held in cities including Saint-Etienne, Clermont
Published 03 Oct, 2010 12:00am
Druidry recognised as religion in Britain

Druidry recognised as religion in Britain

Britain has recognised druidry as an official religion for the first time, thousands of years after the Celtic pagan faith emerged in Europe, the country's charity commission said Saturday. The Druid Network, an organisation representing the religion in B
Published 03 Oct, 2010 12:00am
Druidry recognised as religion in Britain

Druidry recognised as religion in Britain

Britain has recognised druidry as an official religion for the first time, thousands of years after the Celtic pagan faith emerged in Europe, the country's charity commission said Saturday. The Druid Network, an organisation representing the religion in B
Published 03 Oct, 2010 12:00am
IDPs to be registered in two shifts daily

IDPs to be registered in two shifts daily

After replacing the former two-phase registration plan, District Relief Committee Hyderabad has decided to conduct double shifts for registration of all IDPs either staying privately or at the relief camps. The decision to this effect was taken during a m
Published 03 Oct, 2010 12:00am
Qaim orders reconstruction of infrastructure

Qaim orders reconstruction of infrastructure

Sindh Chief Minister Syed Qaim Ali Shah directed the provincial ministers and secretaries of concerned departments to gear up efforts for reconstruction of infrastructure of the province. Presiding over a meeting here on Saturday at the CM House, he linke
Published 03 Oct, 2010 12:00am
Customs duty contributed 20.2 percent to 2009-10 tax receipts

Customs duty contributed 20.2 percent to 2009-10 tax receipts

Despite large scale tariff rationalisation, customs duty contributed around 20.2 percent and 12.2 percent of indirect taxes in total federal tax receipts during 2009-10. The FBR issued a detailed analysis of customs duty collection on Saturday, showing im
Published 03 Oct, 2010 12:00am
LCCA hails new TDAP chief

LCCA hails new TDAP chief

The Lahore Chamber of Commerce and Industry has congratulated the newly appointed Chief Executive of Trade Development Authority of Pakistan (TDAP), Tariq Iqbal Puri, and expressed optimism that the TDAP new Chief Executive would evolve a comprehensive st
Published 03 Oct, 2010 12:00am
FBR fails to complete audit of randomly selected cases

FBR fails to complete audit of randomly selected cases

The Federal Board of Revenue (FBR) has failed to complete audit of cases selected through random selection, says an FBR report issued on Saturday. The FBR report on one-year performance of 2009-2010 admitted that the audit remained a total failure during
Published 03 Oct, 2010 12:00am
FBR fails to complete audit of randomly selected cases

FBR fails to complete audit of randomly selected cases

The Federal Board of Revenue (FBR) has failed to complete audit of cases selected through random selection, says an FBR report issued on Saturday. The FBR report on one-year performance of 2009-2010 admitted that the audit remained a total failure during
Published 03 Oct, 2010 12:00am
FBR fails to complete audit of randomly selected cases

FBR fails to complete audit of randomly selected cases

The Federal Board of Revenue (FBR) has failed to complete audit of cases selected through random selection, says an FBR report issued on Saturday. The FBR report on one-year performance of 2009-2010 admitted that the audit remained a total failure during
Published 03 Oct, 2010 12:00am
PPFL shareholders approve conversion to open-end fund

PPFL shareholders approve conversion to open-end fund

The shareholders of Pakistan Premier Fund Limited (PPFL) in their meeting held here approved the conversion of the fund into an open-end fund, subject to approval by the Securities and Exchange Commission of Pakistan (SECP) and fulfilment of all legal and
Published 03 Oct, 2010 12:00am
PPFL shareholders approve conversion to open-end fund

PPFL shareholders approve conversion to open-end fund

The shareholders of Pakistan Premier Fund Limited (PPFL) in their meeting held here approved the conversion of the fund into an open-end fund, subject to approval by the Securities and Exchange Commission of Pakistan (SECP) and fulfilment of all legal and
Published 03 Oct, 2010 12:00am
Pakistani firms offered to explore oil and gas in Tajikistan

Pakistani firms offered to explore oil and gas in Tajikistan

A delegation of Tajik Trans Gas led by Director General Sharofiddinov called on Syed Naveed Qamar, Minister for Petroleum and Natural Resources who is on a visit to Tajikistan. Tajik Trans Gas, which is state owned exploration and production Oil and Gas C
Published 03 Oct, 2010 12:00am
'PARC initiatives to benefit growers, improve economy'

'PARC initiatives to benefit growers, improve economy'

Chairman Pakistan Agricultural Research Council (PARC) Zafar Altaf has said that the scientists have developed a pharmacy at NARC where a number of plants are grown that can be used for remedial blood pressure, anti allergy and other diseases. Now farmers
Published 03 Oct, 2010 12:00am
Unification with PML: 'contact being established with Sharif brothers'

Unification with PML: 'contact being established with Sharif brothers'

President PML-Like Minded Group, Senator Saleem Saifullah Khan has said that five factions of Pakistan Muslim League (PML) have been unified and contacts have been made with Sharif brothers for unification of the rest of the groups. He said that they are
Published 03 Oct, 2010 12:00am
Sindh University admissions' directorate to remain open today

Sindh University admissions' directorate to remain open today

The Director Admissions, University of Sindh (SU) has announced that offices of the directorate will remain open on Sunday to receive admission forms from candidates and issue admit cards to them. He announced that the directorate would remain open from 9
Published 03 Oct, 2010 12:00am
'Pakistan can take advantage of Australian technological advancement'

'Pakistan can take advantage of Australian technological advancement'

Pakistan's Honorary Investment Consul in Australia, Ayesha Bux has said the agriculture, livestock and education are the key sectors wherein Pakistani businessmen can take advantage of Australian technological advancements to play their role for economic
Published 03 Oct, 2010 12:00am
HCBF offering MBA in Insurance and Risk Management

HCBF offering MBA in Insurance and Risk Management

Punjab University Hailey College of Banking & Finance (HCBF) is the first business college in Pakistan, which is offering MBA in Insurance and Risk Management, while graduates of the College have been well received in the market on competitive basis and r
Published 03 Oct, 2010 12:00am
Two percent increase in power tariff irks consumers

Two percent increase in power tariff irks consumers

Two percent increase in power tariff has irked domestic and commercial power consumers in the country. The government has increased power tariff by 50 percent in last two and a half years and some 26 percent during last one year. The rise in power tariff
Published 03 Oct, 2010 12:00am
Iftikhar commits to pursue terrorists till their end

Iftikhar commits to pursue terrorists till their end

Khyber Pakhtoonkhawa Information Minister Mian Iftikhar Hussain, while strongly condemning brutal killing of eminent scholar Dr Farooq Khan on Saturday reiterated the government's resolve to keep on pursing the terrorists until they are completely elimina
Published 03 Oct, 2010 12:00am
Loadshedding intensified as shortfall touches 5,000 megawatts

Loadshedding intensified as shortfall touches 5,000 megawatts

Power shortfall in the city has risen to an abnormal level of 5,000MW, intensifying the crisis in the country at large as duration of unannounced load shedding has gone through the roof. Load shedding duration has jumped to eight to 10 hours in urban and
Published 03 Oct, 2010 12:00am
Haqqani says Pakistan, Nato working through disagreement

Haqqani says Pakistan, Nato working through disagreement

Pakistan and Nato are working through their disagreement after an airstrike killed Pakistani soldiers and a vital supplies route for Afghanistan-based international forces - temporarily shut in the wake of cross-border intrusion - will be reopened as soon
Published 03 Oct, 2010 12:00am
'Government taking steps for welfare of labour community'

'Government taking steps for welfare of labour community'

Punjab Minister for Labour and Human Resource, Muhammad Ashraf Sohna has said that the present government is taking revolutionary steps for the welfare of the labour community. He said that the government is spending billions of rupees on economic, educat
Published 03 Oct, 2010 12:00am
Legislators for early rehabilitation of flood survivors

Legislators for early rehabilitation of flood survivors

Legislators of Southern Punjab on Saturday called for early restoration of irrigation channels, infrastructure, schools, colleges, and hospitals and agriculture sector destroyed in recent floods in the province to help people stand on their feet again.
Published 03 Oct, 2010 12:00am
US soyabeans drop, following plunging corn

US soyabeans drop, following plunging corn

US soyabean futures ended down sharply on Friday, falling 4-1/2 percent to a two-week low on spillover from plunging corn and early harvest of an expected record large US soybean crop. CBOT November down 49-3/4 cents per bushel at $10.57. Funds sold 10,00
Published 03 Oct, 2010 12:00am
Canadian dollar hits eight-week high

Canadian dollar hits eight-week high

Canada's dollar rose to its loftiest level in eight weeks against the US currency on Friday, as the greenback slid on comments by a US Federal Reserve official that raised expectations of a further easing of monetary policy. The Canadian dollar soared as
Published 03 Oct, 2010 12:00am
African currencies seen firmer against dollar

African currencies seen firmer against dollar

Strong international demand for Ghanaian bonds look set to push the cedi higher next week. Nigeria's naira and the Zambian kwacha should also post gains against the dollar.
Published 03 Oct, 2010 12:00am
Dollar falls broadly; touches six-month low versus euro

Dollar falls broadly; touches six-month low versus euro

The dollar hit a six-month low against the euro on Friday after a Federal Reserve official said US growth has been generally disappointing, which strengthened the case for more quantitative easing. More action by the Fed to boost growth will likely be war
Published 03 Oct, 2010 12:00am
Mexican peso up

Mexican peso up

The Mexican peso strengthened 0.52 percent to 12.525 per dollar. Mounting speculation that the Federal Reserve may soon pump more money into the US economy has caused the dollar to plunge this week, boosting the region's higher yielding currencies.
Published 03 Oct, 2010 12:00am
Bets against dollar biggest since mid-2008

Bets against dollar biggest since mid-2008

Currency speculators' bets against the dollar swelled to $22 billion in the latest week, the largest value since at least mid-2008, data from the Commodity Futures Trading Commission showed on Friday. The value of the dollar's net short position rose to $
Published 03 Oct, 2010 12:00am
China locks speculators out of yuan gains

China locks speculators out of yuan gains

One of China's big fears about resuming yuan appreciation is that it serves as a magnet for hot money inflows. Who could pass up a one-way bet on a stronger currency? But as this chart shows, Beijing has outflanked speculators, for now at least.
Published 03 Oct, 2010 12:00am
Taiwan dollar extends gains

Taiwan dollar extends gains

The Taiwan dollar rose to a more than two-year closing high on Friday after investors saw the central bank's interest rate increase as a vote of confidence in the economy's growth prospects. The Taiwan dollar, along with most other Asian currencies, rose
Published 03 Oct, 2010 12:00am
Economic woes drag Toronto stocks down

Economic woes drag Toronto stocks down

Weak US manufacturing data and cautious remarks from the US Federal Reserve pressured heavyweight financial shares and tugged Toronto's main stock index slightly lower on Friday. The financials declined 0.7 percent, with insurers feeling the brunt of the
Published 03 Oct, 2010 12:00am
Sri Lankan stocks hit new record peak

Sri Lankan stocks hit new record peak

Sri Lanka's benchmark share index rose on Friday to a new record high, but foreign investors sold to cash in profits, analysts said. Sri Lanka's main share index hit a new record close of 7,147.77 points with a 2.15 percent gain. The index is Asia's best
Published 03 Oct, 2010 12:00am
Turkish bond dips, shares ease

Turkish bond dips, shares ease

Turkish assets traded mixed on Friday, with a central bank announcement it would look to step up dollars purchases failing to stem further gains in the lira. The bank's move had been expected and flagged by Governor Durmus Yilmaz, as the central bank join
Published 03 Oct, 2010 12:00am
Turkish bond dips, shares ease

Turkish bond dips, shares ease

Turkish assets traded mixed on Friday, with a central bank announcement it would look to step up dollars purchases failing to stem further gains in the lira. The bank's move had been expected and flagged by Governor Durmus Yilmaz, as the central bank join
Published 03 Oct, 2010 12:00am
Asian funds buy $9 billion in Mexico bonds

Asian funds buy $9 billion in Mexico bonds

Mexico's Finance Minister Ernesto Cordero said on Friday that Asian investors have sunk about $9 billion into Mexican bonds since March, when it was announced the country would be added to a major bond index. Mexico is the first Latin American country to
Published 03 Oct, 2010 12:00am
Asian funds buy $9 billion in Mexico bonds

Asian funds buy $9 billion in Mexico bonds

Mexico's Finance Minister Ernesto Cordero said on Friday that Asian investors have sunk about $9 billion into Mexican bonds since March, when it was announced the country would be added to a major bond index. Mexico is the first Latin American country to
Published 03 Oct, 2010 12:00am
Indian bond yields, OIS rates up on rate hike worry

Indian bond yields, OIS rates up on rate hike worry

Indian federal bond yields and Overnight Indexed Swap (OIS) rose on Monday after the food, fuel price data on Thursday revived concerns of another round of rate increase in November. The 10-year benchmark bond yield ended up six basis points on the day at
Published 03 Oct, 2010 12:00am
Indian bond yields, OIS rates up on rate hike worry

Indian bond yields, OIS rates up on rate hike worry

Indian federal bond yields and Overnight Indexed Swap (OIS) rose on Monday after the food, fuel price data on Thursday revived concerns of another round of rate increase in November. The 10-year benchmark bond yield ended up six basis points on the day at
Published 03 Oct, 2010 12:00am
South Korean bond yields at all-time low

South Korean bond yields at all-time low

South Korean treasury prices extended their bull run for a sixth straight session on Friday, with a firmer won and a government buyback plan driving the 20-year yield to an all-time low. South Korean exports and inflation raced past expectations in Septem
Published 03 Oct, 2010 12:00am
South Korean bond yields at all-time low

South Korean bond yields at all-time low

South Korean treasury prices extended their bull run for a sixth straight session on Friday, with a firmer won and a government buyback plan driving the 20-year yield to an all-time low. South Korean exports and inflation raced past expectations in Septem
Published 03 Oct, 2010 12:00am
Dubai has no plans to issue new bond

Dubai has no plans to issue new bond

Dubai, returning to international debt markets this week with a $1.25 billion issue that has met strong Asian investor demand, has no plans to issue a new bond in the "near future", its finance chief told Dubai TV on Friday. The debt placement on Wednesda
Published 03 Oct, 2010 12:00am
Dubai has no plans to issue new bond

Dubai has no plans to issue new bond

Dubai, returning to international debt markets this week with a $1.25 billion issue that has met strong Asian investor demand, has no plans to issue a new bond in the "near future", its finance chief told Dubai TV on Friday. The debt placement on Wednesda
Published 03 Oct, 2010 12:00am
Treasuries decline

Treasuries decline

US Treasuries dipped on Friday, as data that was mildly encouraging for the economy offset hints from Federal Reserve officials that they would be supportive of the central bank buying more bonds to bolster the sluggish economy.
Published 03 Oct, 2010 12:00am
Treasuries decline

Treasuries decline

US Treasuries dipped on Friday, as data that was mildly encouraging for the economy offset hints from Federal Reserve officials that they would be supportive of the central bank buying more bonds to bolster the sluggish economy.
Published 03 Oct, 2010 12:00am
City Index cashing in on market turmoil

City Index cashing in on market turmoil

British spread-betting company City Index is getting a boost from the market volatility caused by fears about struggling economies such as those in Ireland and Spain, board member Roger Hambury said. City Index's client base of traders was not afraid to d
Published 03 Oct, 2010 12:00am
Corporate bond spreads firm in quieter market

Corporate bond spreads firm in quieter market

US corporate credit spreads held firm on Friday as the new issue market ended more quietly after another busy week and the strongest month for new sales this year. Corporate issuers sold more than $118 billion in investment grade debt in September, "comfo
Published 03 Oct, 2010 12:00am
Corporate bond spreads firm in quieter market

Corporate bond spreads firm in quieter market

US corporate credit spreads held firm on Friday as the new issue market ended more quietly after another busy week and the strongest month for new sales this year. Corporate issuers sold more than $118 billion in investment grade debt in September, "comfo
Published 03 Oct, 2010 12:00am
US Treasury Outlook: data may boost QE expectations

US Treasury Outlook: data may boost QE expectations

US Treasury debt yields may push below technical resistance levels next week if data on employment, services and home sales show the economy continues to struggle, boosting expectations the Federal Reserve will embark on another round of quantitative easi
Published 03 Oct, 2010 12:00am
US Treasury Outlook: data may boost QE expectations

US Treasury Outlook: data may boost QE expectations

US Treasury debt yields may push below technical resistance levels next week if data on employment, services and home sales show the economy continues to struggle, boosting expectations the Federal Reserve will embark on another round of quantitative easi
Published 03 Oct, 2010 12:00am
Emerging Markets: Latam stocks up on China, Brazil poll

Emerging Markets: Latam stocks up on China, Brazil poll

Latin American stocks gained on Friday as a strong revival of Chinese manufacturing eased concerns about the global economic recovery and a weak dollar boosted the price of commodities. Global bourses were cheered by robust Chinese factory data. Manufactu
Published 03 Oct, 2010 12:00am
Wall Street extends rally as resource stocks climb

Wall Street extends rally as resource stocks climb

Wall Street extended the rally on Friday, led by gains in resource stocks after data in China showed a pick-up in manufacturing activity. Gains were tempered by US data suggesting the rate of growth in US factory activity slowed, but the upbeat trend in t
Published 03 Oct, 2010 12:00am
UK resistance to dilute EU commodity rules

UK resistance to dilute EU commodity rules

France faces an uphill struggle as it pushes to tighten regulation of Europe's commodity markets, with opposition led by the UK likely to dilute the final proposals. As the largest grain producer and exporter in the European Union, France wants greater tr
Published 03 Oct, 2010 12:00am
Copper ends up

Copper ends up

US copper futures ended up at a fresh two-year top on Friday, after stronger-than-expected manufacturing data in China reinforced healthy demand prospects from the world's largest consumer. Copper for December delivery rose 3.90 cents, or 1.1 percent, to
Published 03 Oct, 2010 12:00am
US gold futures hit record

US gold futures hit record

Gold futures rallied to record highs above $1,320 an ounce on Friday as comments from Federal Reserve officials and economic data increased expectations of more US monetary easing. COMEX December gold futures settled up $8.20 at $1,317.80 an ounce on the
Published 03 Oct, 2010 12:00am
Prime Minister strongly condemns murder

Prime Minister strongly condemns murder

Prime Minister Syed Yousuf Raza Gilani has strongly condemned the brutal murder of Dr Farooq Khan, Vice Chancellor Swat Islamic University, who was gunned down in Mardan on Saturday. The Prime Minister lauded the services of Dr Farooq Khan for the promoti
Published 03 Oct, 2010 12:00am
Nawaz condemns murder

Nawaz condemns murder

Pakistan Muslim League-Nawaz (PML-N) Chief Nawaz Sharif has expressed deep sorrow over the assassination of renowned religious scholar and Vice Chancellor of Islamic University Swat, Dr Farooq Khan. In a condolence message, Nawaz said the deceased was unb
Published 03 Oct, 2010 12:00am
Afghan Taliban release three abductees

Afghan Taliban release three abductees

Noristani Taliban a faction of Afghan Taliban on Saturday released three abductees of Kalash valley and handed them over to district administration through a delegation. According to District Co-ordination Officer Chitral (DCO) and DPO Chitral eight perso
Published 03 Oct, 2010 12:00am
Dr Farooq Khan: President condemns killing

Dr Farooq Khan: President condemns killing

President Asif Ali Zardari has strongly condemned the murder of Dr Farooq Khan, the Vice Chancellor Swat Islamic University, who was gunned down in Mardan. While reiterating the government's determination to fight terrorism, the President said his governm
Published 03 Oct, 2010 12:00am
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