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Nov 17, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2010-10-04
Index unaffected by SBP rate raise

Index unaffected by SBP rate raise

Despite increase in interest rate by SBP and uncertainty on political front during the week ended on October 2, 2010, the KSE-100 index rose by 132.99 points, closing at 10,042.44 points, mainly due to foreign investors' support, who remained net buyers o
Published 04 Oct, 2010 12:00am
Index unaffected by SBP rate raise

Index unaffected by SBP rate raise

Despite increase in interest rate by SBP and uncertainty on political front during the week ended on October 2, 2010, the KSE-100 index rose by 132.99 points, closing at 10,042.44 points, mainly due to foreign investors' support, who remained net buyers o
Published 04 Oct, 2010 12:00am
KESC worst in terms of dues payment: SSGC

KESC worst in terms of dues payment: SSGC

The Sui Southern Gas Company (SSGC) has portrayed the Karachi Electric Supply Company (KESC) as a worst client, in terms of payment of longstanding dues, official sources told Business Recorder.
Published 04 Oct, 2010 12:00am
KESC worst in terms of dues payment: SSGC

KESC worst in terms of dues payment: SSGC

The Sui Southern Gas Company (SSGC) has portrayed the Karachi Electric Supply Company (KESC) as a worst client, in terms of payment of longstanding dues, official sources told Business Recorder.
Published 04 Oct, 2010 12:00am
Sindh government seeks to set up ''Sindh Bank'': process begins

Sindh government seeks to set up ''Sindh Bank'': process begins

Sindh government has committed to spending Rs 10 billion for creation of ''Sindh Bank'' and has started the process of putting up a structure in order to meet the conditionalities required to obtain a banking licence, it is reliably learnt.
Published 04 Oct, 2010 12:00am
Sindh government seeks to set up 'Sindh Bank': process begins

Sindh government seeks to set up 'Sindh Bank': process begins

Sindh government has committed to spending Rs 10 billion for creation of 'Sindh Bank' and has started the process of putting up a structure in order to meet the conditionalities required to obtain a banking licence, it is reliably learnt.
Published 04 Oct, 2010 12:00am
Sindh government seeks to set up 'Sindh Bank': process begins

Sindh government seeks to set up 'Sindh Bank': process begins

Sindh government has committed to spending Rs 10 billion for creation of 'Sindh Bank' and has started the process of putting up a structure in order to meet the conditionalities required to obtain a banking licence, it is reliably learnt.
Published 04 Oct, 2010 12:00am
STARR: concern voiced over unsatisfactory working

STARR: concern voiced over unsatisfactory working

The Federal Board of Revenue (FBR) has noted with concern that the Sales Tax Automated Refund Repository Computer System (STARR), a refund verification program, cannot confirm information submitted by the registered taxpayers through FBR Web-Portal.
Published 04 Oct, 2010 12:00am
STARR: concern voiced over unsatisfactory working

STARR: concern voiced over unsatisfactory working

The Federal Board of Revenue (FBR) has noted with concern that the Sales Tax Automated Refund Repository Computer System (STARR), a refund verification program, cannot confirm information submitted by the registered taxpayers through FBR Web-Portal.
Published 04 Oct, 2010 12:00am
STARR: concern voiced over unsatisfactory working

STARR: concern voiced over unsatisfactory working

The Federal Board of Revenue (FBR) has noted with concern that the Sales Tax Automated Refund Repository Computer System (STARR), a refund verification program, cannot confirm information submitted by the registered taxpayers through FBR Web-Portal.
Published 04 Oct, 2010 12:00am
Reformed GST: salient features with business community to be shared

Reformed GST: salient features with business community to be shared

The Federal Board of Revenue (FBR) has decided to share salient features of the reformed general sales tax (RGST) with the business community from October 11, 2010. In this regard, the FBR has chalked out a national plan to arrange seminars and interactiv
Published 04 Oct, 2010 12:00am
Reformed GST: salient features with business community to be shared

Reformed GST: salient features with business community to be shared

The Federal Board of Revenue (FBR) has decided to share salient features of the reformed general sales tax (RGST) with the business community from October 11, 2010. In this regard, the FBR has chalked out a national plan to arrange seminars and interactiv
Published 04 Oct, 2010 12:00am
Reformed GST: salient features with business community to be shared

Reformed GST: salient features with business community to be shared

The Federal Board of Revenue (FBR) has decided to share salient features of the reformed general sales tax (RGST) with the business community from October 11, 2010. In this regard, the FBR has chalked out a national plan to arrange seminars and interactiv
Published 04 Oct, 2010 12:00am
Tax exemptions to be withdrawn via SROs

Tax exemptions to be withdrawn via SROs

The government has decided, in principle, to use the mechanism of statutory regulatory orders (SROs) to withdraw tax exemptions, instead of through the controversial ''reformed GST'' (RGST), to meet a critical condition of the International Monetary Fund
Published 04 Oct, 2010 12:00am
Tax exemptions to be withdrawn via SROs

Tax exemptions to be withdrawn via SROs

The government has decided, in principle, to use the mechanism of statutory regulatory orders (SROs) to withdraw tax exemptions, instead of through the controversial 'reformed GST' (RGST), to meet a critical condition of the International Monetary Fund (I
Published 04 Oct, 2010 12:00am
Tax exemptions to be withdrawn via SROs

Tax exemptions to be withdrawn via SROs

The government has decided, in principle, to use the mechanism of statutory regulatory orders (SROs) to withdraw tax exemptions, instead of through the controversial 'reformed GST' (RGST), to meet a critical condition of the International Monetary Fund (I
Published 04 Oct, 2010 12:00am
Pakistan to reopen Nato route once security improves

Pakistan to reopen Nato route once security improves

Pakistan will only re-open the supply route for the coalition troops in Afghanistan when public anger over Nato incursions eases and security improves, Foreign Ministry spokesman said while talking to some media persons on Sunday.
Published 04 Oct, 2010 12:00am
Pakistan to reopen Nato route once security improves

Pakistan to reopen Nato route once security improves

Pakistan will only re-open the supply route for the coalition troops in Afghanistan when public anger over Nato incursions eases and security improves, Foreign Ministry spokesman said while talking to some media persons on Sunday.
Published 04 Oct, 2010 12:00am
28 Nato tankers set ablaze; six killed

28 Nato tankers set ablaze; six killed

Unidentified gunmen attacked Nato oil tankers parked in DHA Phase II, Islamabad, killing at least six people while setting 28 Nato oil tankers on fire on late Monday night, Aaj TV reported.
Published 04 Oct, 2010 12:00am
28 Nato tankers set ablaze; six killed

28 Nato tankers set ablaze; six killed

Unidentified gunmen attacked Nato oil tankers parked in DHA Phase II, Islamabad, killing at least six people while setting 28 Nato oil tankers on fire on late Monday night, Aaj TV reported.
Published 04 Oct, 2010 12:00am
China may buy Pakistani bank

China may buy Pakistani bank

China may buy out a Pakistani bank, as the State Bank of Pakistan (SBP) has been directed by the President to remain in touch with Chinese central bank to finalise a feasible proposal, sources told Business Recorder here on Sunday. President Asif Ali Zard
Published 04 Oct, 2010 12:00am
China may buy Pakistani bank

China may buy Pakistani bank

China may buy out a Pakistani bank, as the State Bank of Pakistan (SBP) has been directed by the President to remain in touch with Chinese central bank to finalise a feasible proposal, sources told Business Recorder here on Sunday. President Asif Ali Zard
Published 04 Oct, 2010 12:00am
China may buy Pakistani bank

China may buy Pakistani bank

China may buy out a Pakistani bank, as the State Bank of Pakistan (SBP) has been directed by the President to remain in touch with Chinese central bank to finalise a feasible proposal, sources told Business Recorder here on Sunday. President Asif Ali Zard
Published 04 Oct, 2010 12:00am
IDB raises sukuk size issue plans

IDB raises sukuk size issue plans

The Islamic Development Bank (IDB) will more than double the size of bonds, or sukuk, issued under an ongoing programme to $3.5 billion to help meet financing needs mainly from flood-ravaged Pakistan. "(IDB) has successfully updated its Sukuk Trust Certif
Published 04 Oct, 2010 12:00am
IDB raises sukuk size issue plans

IDB raises sukuk size issue plans

The Islamic Development Bank (IDB) will more than double the size of bonds, or sukuk, issued under an ongoing programme to $3.5 billion to help meet financing needs mainly from flood-ravaged Pakistan. "(IDB) has successfully updated its Sukuk Trust Certif
Published 04 Oct, 2010 12:00am
IDB raises sukuk size issue plans

IDB raises sukuk size issue plans

The Islamic Development Bank (IDB) will more than double the size of bonds, or sukuk, issued under an ongoing programme to $3.5 billion to help meet financing needs mainly from flood-ravaged Pakistan. "(IDB) has successfully updated its Sukuk Trust Certif
Published 04 Oct, 2010 12:00am
IDB raises sukuk size issue plans

IDB raises sukuk size issue plans

The Islamic Development Bank (IDB) will more than double the size of bonds, or sukuk, issued under an ongoing programme to $3.5 billion to help meet financing needs mainly from flood-ravaged Pakistan. "(IDB) has successfully updated its Sukuk Trust Certif
Published 04 Oct, 2010 12:00am
IP gas pipeline laying deal: Gazprom invited to participate

IP gas pipeline laying deal: Gazprom invited to participate

Pakistan has formally invited Russia''s Gazprom, the largest extractor of natural gas in the world, to participate in laying gas pipeline under Iran-Pakistan (IP) gas pipeline deal. Iran has already welcomed Gazprom involvement in IP gas pipeline project.
Published 04 Oct, 2010 12:00am
IP gas pipeline laying deal: Gazprom invited to participate

IP gas pipeline laying deal: Gazprom invited to participate

Pakistan has formally invited Russia's Gazprom, the largest extractor of natural gas in the world, to participate in laying gas pipeline under Iran-Pakistan (IP) gas pipeline deal. Iran has already welcomed Gazprom involvement in IP gas pipeline project.
Published 04 Oct, 2010 12:00am
IP gas pipeline laying deal: Gazprom invited to participate

IP gas pipeline laying deal: Gazprom invited to participate

Pakistan has formally invited Russia's Gazprom, the largest extractor of natural gas in the world, to participate in laying gas pipeline under Iran-Pakistan (IP) gas pipeline deal. Iran has already welcomed Gazprom involvement in IP gas pipeline project.
Published 04 Oct, 2010 12:00am
THE RUPEE: new low hit versus dollar

THE RUPEE: new low hit versus dollar

The rupee touched a new low level versus dollar at 86.26 during the week ended on October 1, 2010. On the interbank market, the rupee lost 24 paisa against dollar for buying at 86.21, and 25 paisa for selling at 86.26.
Published 04 Oct, 2010 12:00am
THE RUPEE: new low hit versus dollar

THE RUPEE: new low hit versus dollar

The rupee touched a new low level versus dollar at 86.26 during the week ended on October 1, 2010. On the interbank market, the rupee lost 24 paisa against dollar for buying at 86.21, and 25 paisa for selling at 86.26.
Published 04 Oct, 2010 12:00am
Troubled Commonwealth Games open in fortress Delhi

Troubled Commonwealth Games open in fortress Delhi

The troubled Commonwealth Games got underway with a glittering opening ceremony on Sunday in a fortress-like New Delhi after a shambolic run-up that threatened to derail the event. Britain's Prince Charles, representing his mother Queen Elizabeth II, form
Published 04 Oct, 2010 12:00am
Troubled Commonwealth Games open in fortress Delhi

Troubled Commonwealth Games open in fortress Delhi

The troubled Commonwealth Games got underway with a glittering opening ceremony on Sunday in a fortress-like New Delhi after a shambolic run-up that threatened to derail the event. Britain's Prince Charles, representing his mother Queen Elizabeth II, form
Published 04 Oct, 2010 12:00am
The Weather

The Weather

The weather report on Sunday (October 03, 2010) and the forecast for Monday (October 04, 2010).

Published 04 Oct, 2010 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (September 27 to October 01, 2010)

Published 04 Oct, 2010 12:00am
Antidepressant use tied to increased diabetes risk

Antidepressant use tied to increased diabetes risk

People who use antidepressants for the long term may be more likely to develop type 2 diabetes than non-users - including other individuals with severe depression, two new studies suggest. The findings, reported in the journal Diabetes Care, add to eviden
Published 04 Oct, 2010 12:00am
Nestle creates new healthcare nutrition unit

Nestle creates new healthcare nutrition unit

Nestle, the world's biggest food group, is creating a new unit to focus on healthcare nutrition, underlining the group's focus on the profitable health and wellness area. Luis Cantarell will head the unit aimed at targeting new opportunities between food
Published 04 Oct, 2010 12:00am
One fifth of world's plants threatened by extinction

One fifth of world's plants threatened by extinction

More than a fifth of the world's plant species faces the threat of extinction, a trend with potentially catastrophic effects for life on Earth, according to research released on September 29.
Published 04 Oct, 2010 12:00am
AIDS treatment up in '09; 2010 targets in doubt: WHO

AIDS treatment up in '09; 2010 targets in doubt: WHO

A record 1.2 million people in low and middle income countries started antiretroviral therapy for HIV/AIDs in 2009, the World Health Organisation said on September 28, but targets set for 2010 are unlikely to be met.
Published 04 Oct, 2010 12:00am
New study sheds light on Saudi volcano risk

New study sheds light on Saudi volcano risk

A swarm of small earthquakes that struck western Saudi Arabia last year was the rumbling of a volcano, geologists reported on September 27.
Published 04 Oct, 2010 12:00am
Genetic discovery may lead to brain treatments

Genetic discovery may lead to brain treatments

British scientists have discovered a genetic mechanism in the development of the nervous system that they say might one day be part of new treatments for stroke, Alzheimer's disease or brain tumours.
Published 04 Oct, 2010 12:00am
Acupuncture not helpful for stroke recovery

Acupuncture not helpful for stroke recovery

Acupuncture does not help speed recovery after stroke, according to an analysis of 10 trials using fake or "sham" acupuncture as a control.
Published 04 Oct, 2010 12:00am
Apple attracts most coverage of US tech firms: Pew study

Apple attracts most coverage of US tech firms: Pew study

Apple attracts more coverage from the mainstream US media than any other US technology company and most of it is positive, according to a study released on September 27. Google is the next most-covered company followed by Twitter, Facebook and Microsoft,
Published 04 Oct, 2010 12:00am
Texting bans do not increase road safety: study

Texting bans do not increase road safety: study

Laws that ban texting while driving are ineffective at best and could be counter-productive because they encourage surreptitious behaviour behind the wheel, a study funded by US auto insurers said on September 28. The non-profit Highway Loss Data Institut
Published 04 Oct, 2010 12:00am
Internet disconnect law 'blight'warned

Internet disconnect law 'blight'warned

Tim Berners-Lee, the man credited with inventing the world wide web, warned on September 28 of the "blight" of new laws being introduced across the globe allowing people to be cut off from the Internet. "There's been a rash of laws trying to give governme
Published 04 Oct, 2010 12:00am
Mobile device boom sparks US Net address shortage

Mobile device boom sparks US Net address shortage

The United States could run out of unique Internet addresses to assign to new devices by the end of next year, a telecommunications official said on September 28. Internet Protocol version 4, known as IPv4, provides the dominant architecture for the Inter
Published 04 Oct, 2010 12:00am
Mobile Web usage jumped in August: Opera

Mobile Web usage jumped in August: Opera

Global mobile data traffic continued to surge in August, raising the prospect of increasing demand for battered telecom equipment makers. The largest Internet browser firm Opera Software ASA said on Thursday global data traffic through its mobile browser
Published 04 Oct, 2010 12:00am
Facebook now second largest online video viewing platform

Facebook now second largest online video viewing platform

Facebook became the second-largest online video viewing platform in the United States in August, leap-frogging Yahoo! but still trailing far behind YouTube, digital tracking firm comScore said on October 1. ComScore said a total of 178 million US Internet
Published 04 Oct, 2010 12:00am
Android is operating system of the future, say software developers

Android is operating system of the future, say software developers

Google's Android operating system will muscle past rivals Apple and Microsoft, dominating future devices to power everything from tablet computers and smartphones to touchscreen refrigerators, according to a poll of developers published on Monday.
Published 04 Oct, 2010 12:00am
E-books may spur more kids to read

E-books may spur more kids to read

The amount of time children spend reading books for enjoyment decreases as they use cell phones and other mobile technology, but e-books might just bring them back to literature, according to a report released on September 29.
Published 04 Oct, 2010 12:00am
Dell pitches open system in data centre offering

Dell pitches open system in data centre offering

Dell is unveiling new software to tie together disparate pieces of data centre hardware, making a pitch for an open system that runs counter to what some of its rivals are doing. Dell's updated Virtual Integrated System, which it announced on September 28
Published 04 Oct, 2010 12:00am
Spain launches YouTube reading of 'Don Quixote'

Spain launches YouTube reading of 'Don Quixote'

The official guardians of the Spanish language launched on September 30 a reading on YouTube of the Spanish masterpiece "Don Quixote de la Mancha" in order to promote the use of the language on the Internet. In the original, "Don Quixote" spans 126 chapte
Published 04 Oct, 2010 12:00am
Amazon launches 'Kindle for the Web'

Amazon launches 'Kindle for the Web'

Amazon unveiled on September 28 a programme that allows Kindle electronic books to be sampled in a Web browser. "Kindle for the Web" is featured on the online retail giant's website, Amazon.com, and book samples can be embedded on other websites or shared
Published 04 Oct, 2010 12:00am
LG and Microsoft team-up in cloud computing

LG and Microsoft team-up in cloud computing

South Korea's LG Electronics said on September 30 it had signed a partnership deal with Microsoft on cloud computing and virtualisation, hot IT technologies aimed at helping business cut costs.
Published 04 Oct, 2010 12:00am
BlackBerry maker RIM unveils 'PlayBook' tablet computer

BlackBerry maker RIM unveils 'PlayBook' tablet computer

BlackBerry maker Research in Motion on September 27 unveiled a touchscreen tablet computer called "PlayBook" aimed at business users. The PlayBook is one of a number of tablet computers slated for release in a bid to challenge Apple's popular iPad and is
Published 04 Oct, 2010 12:00am
Microsoft names veteran executive to head office division

Microsoft names veteran executive to head office division

Microsoft on October 02 named Kurt DelBene, a veteran executive at the US software firm, to head its key Office division, replacing Stephen Elop, who left last month to run Finnish phone giant Nokia. Besides naming DelBene president of the Microsoft Offic
Published 04 Oct, 2010 12:00am
Wal-Mart makes risky move to find growth in Africa

Wal-Mart makes risky move to find growth in Africa

Wal-Mart Stores Inc's plan to buy its way into the South African market with a $4 billion acquisition is a pricey move that highlights how much the retailer is betting on growth outside the sluggish US markets.
Published 04 Oct, 2010 12:00am
AOL chief launches advertising system

AOL chief launches advertising system

AOL Inc launched a new online advertising system that it hopes will transform the way advertisers reach consumers on the Internet, its top executive told Reuters.
Published 04 Oct, 2010 12:00am
Index-trackers up stakes in battle for investors

Index-trackers up stakes in battle for investors

Asset managers who sell index-tracking funds are hoping "smart" trackers that aim to exploit trends in certain stocks and sectors will help them hold on to their popularity at the expense of stock-picking rivals. Investors have flocked to passive managers
Published 04 Oct, 2010 12:00am
Index-trackers up stakes in battle for investors

Index-trackers up stakes in battle for investors

Asset managers who sell index-tracking funds are hoping "smart" trackers that aim to exploit trends in certain stocks and sectors will help them hold on to their popularity at the expense of stock-picking rivals. Investors have flocked to passive managers
Published 04 Oct, 2010 12:00am
Maruti posts highest monthly sales

Maruti posts highest monthly sales

India's largest carmaker, Maruti Suzuki India, reported on October 01 record monthly sales of more than 100,000 vehicles for September, driven by strong consumer demand and cheap finance deals. Japanese-owned Maruti Suzuki India said sales jumped 29.65 pe
Published 04 Oct, 2010 12:00am
Maruti posts highest monthly sales

Maruti posts highest monthly sales

India's largest carmaker, Maruti Suzuki India, reported on October 01 record monthly sales of more than 100,000 vehicles for September, driven by strong consumer demand and cheap finance deals. Japanese-owned Maruti Suzuki India said sales jumped 29.65 pe
Published 04 Oct, 2010 12:00am
Barclays eyes commercial real estate growth

Barclays eyes commercial real estate growth

Barclays has renewed its focus on the commercial property sector, bringing its real estate investment and corporate bankers under a single banner with a view to luring clients from embattled UK banking peers.
Published 04 Oct, 2010 12:00am
Hushovd wins world road race title

Hushovd wins world road race title

Thor Hushovd made cycling history on Sunday when he claimed Norway's first-ever men's elite title at the world road race cycling championships in Australia. Hushovd, the Norwegian champion, dominated a bunch sprint at the end of a thrilling 267.2 km race,
Published 04 Oct, 2010 12:00am
Sharapova advances, Stosur out in Beijing

Sharapova advances, Stosur out in Beijing

Maria Sharapova struggled to find her rhythm Sunday but advanced to the second round of the China Open td number one and the 12th seed in Beijing, defeated Bulgaria's Tsvetana Pironkova in straight sets, 6-4, 7-6 (7/5), in a duel of 23-year-olds that last
Published 04 Oct, 2010 12:00am
Johnson strikes after Tendulkar misses ton

Johnson strikes after Tendulkar misses ton

Mitchell Johnson grabbed three quick wickets to help Australia gain a slender advantage in the opening Test after India's Sachin Tendulkar missed out on his 49th century on Sunday. India were comfortably placed at 354-4 in their first innings before colla
Published 04 Oct, 2010 12:00am
Youzhny wins Malaysian Open

Youzhny wins Malaysian Open

In-form Mikhail Youzhny followed his US Open semi-final showing by winning the Malaysian Open Sunday, coming from a set down to beat Andrey Golubev 6-7 (7/9), 6-2, 7-6 (7/3). The Russian lost a first-set tie-break but rallied to beat his Kazakh opponent,
Published 04 Oct, 2010 12:00am
Garcia-Lopez wins Thailand Open

Garcia-Lopez wins Thailand Open

Spain's Guillermo Garcia-Lopez capped a momentous week Sunday by lifting the Thailand Open, beating Jarkko Nieminen 6-4, 3-6, 6-4 to follow up his shock semi-final victory over Rafael Nadal. The world number 53, treated for leg and back pain during his wi
Published 04 Oct, 2010 12:00am
Amir and Asif appeal against ICC ban

Amir and Asif appeal against ICC ban

Pakistan bowlers Mohammad Amir and Mohammad Asif have joined captain Salman Butt in appealing their suspensions from the game over allegations of spot fixing, a television channel reported on Sunday.
Published 04 Oct, 2010 12:00am
Contador to quit if banned for doping

Contador to quit if banned for doping

Tour de France champion Alberto Contador says he may quit cycling if he is banned for doping. "If this is not resolved favourably and in just fashion then I would have to consider whether I would ever get back on a bike," Contador told Spanish broadcaster
Published 04 Oct, 2010 12:00am
Chelsea stay top as Blackpool cause major shock

Chelsea stay top as Blackpool cause major shock

Chelsea's Didier Drogba proved Arsenal's nemesis again on Sunday when he scored the opening goal in the champions' 2-0 win over their London rivals which stretched their lead at the top of the Premier League. Blackpool also had an afternoon to remember, w
Published 04 Oct, 2010 12:00am
Spectators boo chief organiser at opening ceremony

Spectators boo chief organiser at opening ceremony

Suresh Kalmadi, head of the troubled Commonwealth Games organising committee, was booed when he began his welcome speech to 60,000 spectators at the opening ceremony on Sunday.
Published 04 Oct, 2010 12:00am
Dengue fever case in athletes' village

Dengue fever case in athletes' village

The Commonwealth Games in New Delhi was hit by its first unconfirmed case of dengue fever on Sunday just hours before the event's opening ceremony. Indian lawn bowls manager Ruptu Gogoi was reported to have contracted the disease and was taken to hospital
Published 04 Oct, 2010 12:00am
Sumo champion Asashoryu bids the ring farewell

Sumo champion Asashoryu bids the ring farewell

Former sumo champion Asashoryu, often called a bad boy of the ancient sport, bade farewell to the ring on Sunday as he had his topknot cut in a ritual to officially end his controversial career.
Published 04 Oct, 2010 12:00am
Successful Games will boost India's Olympic hopes: Rogge

Successful Games will boost India's Olympic hopes: Rogge

A successful Commonwealth Games will provide India the foundation to think about a future Olympic bid, International Olympic Committee (IOC) President Jacques Rogge said on Sunday. In the Indian capital for the opening ceremony of the Commonwealth Games l
Published 04 Oct, 2010 12:00am
Slump in bank lending to boost Gulf bonds

Slump in bank lending to boost Gulf bonds

Gulf companies are forced to turn to fixed-income markets as tighter capital at regional banks is drying up bank credit, their traditional funding source, the chief executive of Securities & Investment Co (SICO) said.
Published 04 Oct, 2010 12:00am
Slump in bank lending to boost Gulf bonds

Slump in bank lending to boost Gulf bonds

Gulf companies are forced to turn to fixed-income markets as tighter capital at regional banks is drying up bank credit, their traditional funding source, the chief executive of Securities & Investment Co (SICO) said.
Published 04 Oct, 2010 12:00am
Italian private banks in Switzerland head for exit

Italian private banks in Switzerland head for exit

Italian private banks are exiting Switzerland in increasing numbers and could leave altogether because of a crackdown on tax evasion back home, stiff scrutiny of bank secrecy and poor returns after the financial crisis. In the past 18 months, around eight
Published 04 Oct, 2010 12:00am
BoE can support economy as cuts bite: Cameron

BoE can support economy as cuts bite: Cameron

The Bank of England can support the economy as Britain cuts a record budget deficit, Prime Minister David Cameron said on Sunday, after a senior government minister warned of the risk of another recession. There are signs that Britain's economy - along wi
Published 04 Oct, 2010 12:00am
China not seeking trade surplus

China not seeking trade surplus

Chinese Premier Wen Jiabao accused US lawmakers of politicising currency levels, saying that a trade surplus was natural at his country's stage of development, in an interview with CNN that aired Sunday. "China does not pursue a trade surplus," Wen told C
Published 04 Oct, 2010 12:00am
China's Wen supports stable euro ahead of EU summit

China's Wen supports stable euro ahead of EU summit

China pledged on Sunday to support a stable euro and not reduce its holdings of European government bonds in an effort to deflect criticism of its foreign exchange policy ahead of an EU-China summit this week.
Published 04 Oct, 2010 12:00am
German conservative calls for wage increase

German conservative calls for wage increase

Temporary workers in Germany should be paid the same wages as full-time workers, a senior conservative said on Sunday in comments that lend support for broad pay increases. Volker Kauder, parliamentary floor leader of Chancellor Angela Merkel's Christian
Published 04 Oct, 2010 12:00am
Future of euro is bleak without reform: Stiglitz

Future of euro is bleak without reform: Stiglitz

The future of the euro is bleak unless Europe does more to help to member countries that experience large adverse economic shocks, Nobel Prize winning economist Joseph Stiglitz said.
Published 04 Oct, 2010 12:00am
Chile's President says central bank should do more on peso

Chile's President says central bank should do more on peso

Chilean President Sebastian Pinera believes the central bank should do more to tame a stronger peso while a bank board member said the local currency is moving closer to surpass its coherent range, a local newspaper quoted both as saying on Sunday.
Published 04 Oct, 2010 12:00am
Australia warns China, Europe on trade

Australia warns China, Europe on trade

Australia's trade minister joined US calls for China to adjust its currency Sunday and warned Europe that Canberra would not allow a revival of protectionism masquerading as environmentalism.
Published 04 Oct, 2010 12:00am
Iran's rial stays fragile despite central bank move

Iran's rial stays fragile despite central bank move

Iran's currency, the rial, defied central bank attempts to revive its value on Sunday, remaining weak after falling 13 percent against the dollar last week. Last week's rial slump stirred talk of an unannounced policy of devaluation or a scramble for doll
Published 04 Oct, 2010 12:00am
Bangladesh faces trade slump on poor port activity

Bangladesh faces trade slump on poor port activity

Bangladesh's external trade is likely to face a slump in the current fiscal year to June 2011 due to poor performance of the country's main Chittagong port, traders said on Sunday. "Both the exports and imports are bound to fall as the efficiency of the p
Published 04 Oct, 2010 12:00am
China-Africa 2010 trade to top 100 billion dollars

China-Africa 2010 trade to top 100 billion dollars

Beijing says its trade with Africa is on track to top 100 billion dollars this year as it benefits from investments in mines, farms and factories on the continent, state media reported Sunday. Trade between China and Africa jumped 65 percent on year in th
Published 04 Oct, 2010 12:00am
Abu Dhabi starts fund to invest in Iraqi companies

Abu Dhabi starts fund to invest in Iraqi companies

A state-run Abu Dhabi financial firm is launching a fund to invest in Iraqi companies. Invest AD said Sunday its Iraq Investment Fund will give investors a way to buy tough-to-access Iraqi stocks and other investments as the country starts to rebuild and
Published 04 Oct, 2010 12:00am
Abu Dhabi starts fund to invest in Iraqi companies

Abu Dhabi starts fund to invest in Iraqi companies

A state-run Abu Dhabi financial firm is launching a fund to invest in Iraqi companies. Invest AD said Sunday its Iraq Investment Fund will give investors a way to buy tough-to-access Iraqi stocks and other investments as the country starts to rebuild and
Published 04 Oct, 2010 12:00am
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