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Print - 2010-11-09
Cameron leads UK business drive to China

Cameron leads UK business drive to China

Prime Minister David Cameron leads a heavyweight group of British politicians and business chiefs on a visit to China this week which will focus squarely on expanding trade ties with the world's second-largest economy. Cameron, who took office in May, lea
Published 09 Nov, 2010 12:00am
US scientists to speak out against climate change sceptics

US scientists to speak out against climate change sceptics

Hundreds of US scientists are joining a mass effort to speak out on climate change, experts said Monday after sceptics gained political ground with last week's Republican wins in Congress. The moves signals a bold approach by scientists, typically relucta
Published 09 Nov, 2010 12:00am
Romania and Moldova sign border treaty

Romania and Moldova sign border treaty

Romania and Moldova signed a border treaty Monday, almost two decades after Moldova declared independence from the Soviet Union. Romania's Foreign Minister Teodor Baconschi and Moldova's Prime Minister Vlad Filat emphasised the good co-operation between t
Published 09 Nov, 2010 12:00am
20 killed by Hurricane Tomas in Haiti

20 killed by Hurricane Tomas in Haiti

At least 20 people were killed when Hurricane Tomas hit Haiti at the weekend, triggering flooding and mudslides that also left some 6,000 families homeless in the impoverished Caribbean nation, officials said Monday. The hardest hit region was Haiti's far
Published 09 Nov, 2010 12:00am
Nato-Afghan operation kills 15 insurgents

Nato-Afghan operation kills 15 insurgents

Afghan and Nato forces targeted suspected insurgent strongholds in a joint operation in southern Kandahar province, killing 15 and capturing 13, an Afghan official said Monday. Nato and Afghan forces have been trying to seize control of the Taliban heartl
Published 09 Nov, 2010 12:00am
Russia echoes China, says US should consult G20

Russia echoes China, says US should consult G20

Russia sided with China ahead of the Group of 20 summit, saying on Monday the United States should consult other countries before pumping cash into its economy, but stopped short of calling the policy a mistake.
Published 09 Nov, 2010 12:00am
World Bank chief surprises with gold standard idea

World Bank chief surprises with gold standard idea

Leading economies should consider adopting a modified global gold standard to guide currency rates, World Bank president Robert Zoellick said on Monday in a surprise proposal before a potentially acrimonious G20 summit. Writing in the Financial Times, Zoe
Published 09 Nov, 2010 12:00am
Beijing supportive of G20 re-balancing effort: Geithner

Beijing supportive of G20 re-balancing effort: Geithner

US Treasury Secretary Timothy Geithner on Monday said China is supportive of the Group of 20's framework for re-balancing the global economy, and he expects broad consensus on it at a leaders' summit this week. Geithner, speaking in the Indian capital dur
Published 09 Nov, 2010 12:00am
Zimbabwe economy buoyant, more reform needed: IMF

Zimbabwe economy buoyant, more reform needed: IMF

Zimbabwe's economy will grow for the second successive year in 2010 due to positive policies and strong commodity prices, the International Monetary Fund said on Monday, while calling for more reforms to sustain the recovery. The southern African country'
Published 09 Nov, 2010 12:00am
Obama returns fire after China slams Fed's move

Obama returns fire after China slams Fed's move

US President Barack Obama defended the Federal Reserve's policy of printing dollars on Monday after China and Russia stepped up criticism ahead of this week's Group of 20 meeting. The G20 summit has been pitched as a chance for leaders of the countries th
Published 09 Nov, 2010 12:00am
Ireland publishes new code for banks, insurers

Ireland publishes new code for banks, insurers

Ireland unveiled a new statutory corporate governance code for banks and insurers on Monday to bring 'fresh blood' into boardrooms and prevent a repeat of the excessive risk-taking that precipitated the country's financial crisis. "It's time to bring fres
Published 09 Nov, 2010 12:00am
Bangladesh plans mass privatisation to cool stock market

Bangladesh plans mass privatisation to cool stock market

Bangladesh will offload stakes in dozens of state-owned enterprises as part of a major government effort to cool down the country's overheated stock exchange, its finance minister said Monday. Eight state-owned firms, including major energy and power firm
Published 09 Nov, 2010 12:00am
Progress made in Qantas A380 engine probe

Progress made in Qantas A380 engine probe

Rolls-Royce Group Plc moved to contain a crisis of confidence in the safety of its engines on Monday, saying progress was being made in finding out what caused last week's blowout on a Qantas Airbus A380 flight. Shares in Rolls reversed losses and rose 3
Published 09 Nov, 2010 12:00am
Opec unlikely to raise output in December

Opec unlikely to raise output in December

Opec sees no need to boost its output when it meets next month, two officials from the group said on Monday, even though oil prices have rallied to a two-year high above $87 a barrel. Oil hit $87.49 a barrel on Monday, the highest since October 2008. Comm
Published 09 Nov, 2010 12:00am
Leading economies set to diverge in recovery: OECD

Leading economies set to diverge in recovery: OECD

The world's leading economies are set to diverge as they recover from the global economic crisis, with the United States, Germany, Japan and Russia gaining pace while China, Britain, France and India slowing down, the OECD said on Monday. The Organisation
Published 09 Nov, 2010 12:00am
German exports soar, output dips

German exports soar, output dips

German exports soared in September while industrial output faltered, indicating Europe's largest economy will post solid if unspectacular third quarter growth later this week as the recovery eases. Exports grew twice as fast as expected in September, up 3
Published 09 Nov, 2010 12:00am
McDonald's US unit disappoints; Europe strong

McDonald's US unit disappoints; Europe strong

McDonald's Corp reported a weaker-than-expected rise in October sales at US established restaurants as high unemployment keeps plaguing the world's largest hamburger chain's key domestic market. October sales at restaurants open at least 13 months were up
Published 09 Nov, 2010 12:00am
Commodities lead FTSE fall

Commodities lead FTSE fall

Britain's top shares fell on Monday as mining and energy stocks tracked lower commodity prices, while financials eased on Basel III and sovereign debt concerns. Rolls-Royce rose 2.7 percent after the engine-maker announced progress in understanding the ca
Published 09 Nov, 2010 12:00am
Australian stocks fall

Australian stocks fall

Australian shares fell 0.5 percent on Monday, with Qantas Airways touching three-week lows on engine problems and weakness in some major blue chips as they went ex-dividend. Westpac Banking Corp fell 4.6 percent to A$22.29 while Macquarie Group fell 1 per
Published 09 Nov, 2010 12:00am
Seoul shares up

Seoul shares up

Seoul shares rose 0.2 percent boosted by techs such as Samsung SDI, but gains were limited as investors turned cautious ahead of the summit of the Group of 20 major economies meeting in the city this week. The Korea Composite Stock Price Index finished up
Published 09 Nov, 2010 12:00am
South East Asian markets: Singapore sets new multi-year peak

South East Asian markets: Singapore sets new multi-year peak

Most Southeast Asian stock markets gained ground on Monday, buoyed by commodities shares on optimism about the outlook for oil prices and for global demand. Strong buying interest bolstered the laggard Singapore stock market, pushing the benchmark Straits
Published 09 Nov, 2010 12:00am
Indian shares bounce

Indian shares bounce

Profit sales dragged Indian shares 0.7 percent lower on Monday, after shares climbed towards record-high level in early trade following their best week in nearly 16 months. Coal India, the state-run miner which made a stellar debut last week, fell 5.5 per
Published 09 Nov, 2010 12:00am
European shares flat

European shares flat

European shares were flat on Monday, near six-month closing highs, as positive momentum from last week was offset by renewed worries about eurozone debt, strengthening the dollar and hurting commodities prices. The pan-European FTSEurofirst 300 index of t
Published 09 Nov, 2010 12:00am
Cannabis 'scratch and sniff cards' issued to Dutch citizens

Cannabis 'scratch and sniff cards' issued to Dutch citizens

In a novel bid to combat illegal cannabis cultivation, Dutch authorities started handing out 30,000 cards with a marijuana odour Monday to alert citizens to what their neighbours may be up to. "Citizens must be alerted to the dangers they face as a result
Published 09 Nov, 2010 12:00am
Cheney angry Bush did not pardon Libby: Bush

Cheney angry Bush did not pardon Libby: Bush

Former President George W. Bush says Vice President Dick Cheney angrily confronted him over Bush's decision not to pardon a former vice presidential aide over his role in the case of the leaked identity of CIA operative Valerie Plame.
Published 09 Nov, 2010 12:00am
Muslim-West security cooperation 'vital': Miliband

Muslim-West security cooperation 'vital': Miliband

Saudi-US security co-operation on an October parcel bomb plot showed the "vital" need for Western security collaboration with Muslim states, a former British foreign minister said on Monday in Abu Dhabi. "Cooperation between Saudi Arabia and the United St
Published 09 Nov, 2010 12:00am
Myanmar's army-backed parties set to sweep rare poll

Myanmar's army-backed parties set to sweep rare poll

The military will keep its grip on power after Myanmar's first election in 20 years, backed by parties that on Monday looked set to win a vote marred by fraud and denounced by US President Barack Obama as stolen. Europe and Japan also condemned the conduc
Published 09 Nov, 2010 12:00am
Sanctions against Iran 'having impact': US

Sanctions against Iran 'having impact': US

The United States rejected on Monday Israeli concerns that it had become necessary to pursue a credible military threat against Iran, saying sanctions could deter Tehran from building a nuclear weapon. Israeli Prime Minister Benjamin Netanyahu told US Vic
Published 09 Nov, 2010 12:00am
Iran role wanes in Iraq: US officer

Iran role wanes in Iraq: US officer

A top US military officer said Monday that Iran's influence has waned in neighbouring Iraq, where prolonged negotiations have struggled to decide on a new government. "Probably in the last couple months, in this period of government formation, I think tha
Published 09 Nov, 2010 12:00am
Iraqi leaders start talks to end political impasse

Iraqi leaders start talks to end political impasse

Iraqi political leaders began a series of talks on Monday that could break an eight month deadlock over forming a new government and assure incumbent Prime Minister Nuri al-Maliki of a second term. The aim of the meetings, the first of which was hosted by
Published 09 Nov, 2010 12:00am
French magistrate confirms second Chirac graft trial

French magistrate confirms second Chirac graft trial

A magistrate said Monday that former French president Jacques Chirac will stand trial on a second set of corruption charges dating to the 1990s when he was mayor of Paris, an official said. A judicial official who asked not to be named said investigating
Published 09 Nov, 2010 12:00am
US okays $5 billion sale of Boeing helicopters to UAE

US okays $5 billion sale of Boeing helicopters to UAE

The US Defence Department said on Monday it notified Congress last week about the possible sale of 60 Boeing Co AH-64D Apache helicopters to the United Arab Emirates, a deal valued at $5 billion. "The UAE needs these helicopters to fulfil its strategic co
Published 09 Nov, 2010 12:00am
EU ministers agree more air cargo security needed

EU ministers agree more air cargo security needed

European Union member countries agreed on Monday to tighten aviation security measures after bombs were found in air cargo bound for the United States. Home affairs ministers meeting in Brussels set up an expert group to prepare specific recommendations t
Published 09 Nov, 2010 12:00am
Saudi Arabia discovers ancient Pharaonic inscriptions

Saudi Arabia discovers ancient Pharaonic inscriptions

Saudi Arabia has discovered its first hieroglyphic inscriptions mentioning an Egyptian pharaoh dating back more than 3,000 years on a rock near the northern city of Tabuk, state media reported. The inscriptions, which bore the name of Pharoah Ramses III,
Published 09 Nov, 2010 12:00am
Lebanon powerless to stop UN Hariri tribunal: US

Lebanon powerless to stop UN Hariri tribunal: US

Lebanon is powerless to stop a UN-backed probe into the murder of ex-premier Rafiq Hariri despite a campaign by Hezbollah to torpedo the court, visiting US Senator John Kerry said on Monday. "This is a tribunal that was not created by the United States, n
Published 09 Nov, 2010 12:00am
US, Australia sign space defence surveillance pact

US, Australia sign space defence surveillance pact

Australia and the United States Monday signed an agreement paving the way for greater co-operation in the surveillance of space. "Australia and the United States shared a deep concern about the increasingly interdependent, congested, and contested nature
Published 09 Nov, 2010 12:00am
Four killed, 70 hurt in Morocco raid

Four killed, 70 hurt in Morocco raid

Clashes as Moroccan forces dismantled a camp housing thousands of refugees in the Western Sahara on Monday left four dead and scores injured, according to the rival sides. Mohamed Ghalous, the government representative for Laayoune, said the dawn raid by
Published 09 Nov, 2010 12:00am
Monitors fault Azeri vote won by Aliyev loyalists

Monitors fault Azeri vote won by Aliyev loyalists

Monitors rebuked oil-producing Azerbaijan on Monday for holding a flawed parliamentary election that tightened President Ilham Aliyev's hold over the former Soviet republic, a strategic partner of the West. Aliyev loyalists swept the board in Sunday's ele
Published 09 Nov, 2010 12:00am
Awlaqi calls for killing of Americans 'without hesitation'

Awlaqi calls for killing of Americans 'without hesitation'

US-Yemeni radical cleric Anwar al-Awlaqi has called for the killing of Americans "without hesitation" and accused Iran of trying to impose control over Sunnis in the Gulf, SITE monitors said on Monday. "Do not consult anyone in killing Americans," Awlaqi
Published 09 Nov, 2010 12:00am
Another journalist attacked in Moscow

Another journalist attacked in Moscow

Another journalist has been beaten up in the Moscow region, two days after a savage attack on a leading reporter shocked Russia, reports said Monday. Anatoly Adamchuk, who writes for the Zhukovskie Vesti newspaper in the Zhukovsky area of south-eastern Mo
Published 09 Nov, 2010 12:00am
Indonesia volcano causes more flight chaos

Indonesia volcano causes more flight chaos

US President Barack Obama's twice-postponed visit to Indonesia looked on track on Monday after flights to the capital returned to normal following a weekend of disruptions caused by a deadly volcano. Mount Merapi in central Java began spewing lava, superh
Published 09 Nov, 2010 12:00am
Car bombings in Iraq kill 18

Car bombings in Iraq kill 18

Twin bombings in Shia holy cities targeting Iranians killed at least 18 people on Monday, 10 of them pilgrims from Iran, at the start of a ninth month of wrangling over a new government. Police and local officials said the attacks also wounded 58 people,
Published 09 Nov, 2010 12:00am
EU Danube strategy key to overcoming disparities: Barroso

EU Danube strategy key to overcoming disparities: Barroso

The European Union's strategy for the Danube is key to overcoming disparities in the region, European Commission president Jose Manuel Barroso said on Monday during a summit in Bucharest. "There has been major progress since the beginning of the 1990s, bu
Published 09 Nov, 2010 12:00am
US says Afghan goal to take over security by 2014 realistic

US says Afghan goal to take over security by 2014 realistic

US military chiefs said on Monday that the Afghan government's plan to take over security from foreign troops by 2014 was a realistic goal, citing progress in the war effort. The Nato alliance planned to endorse the 2014 goal set by President Hamid Karzai
Published 09 Nov, 2010 12:00am
TCP sells more sugar in open market

TCP sells more sugar in open market

Trading Corporation of Pakistan (TCP) continues off-loading sugar in the open market and has sold another quantity of 10,000 tons at Rs 77,500 PMT (excluding taxes) on the basis of highest responsive bid, against its 2nd tender (10,000 MT) of first tranch
Published 09 Nov, 2010 12:00am
TCP sells more sugar in open market

TCP sells more sugar in open market

Trading Corporation of Pakistan (TCP) continues off-loading sugar in the open market and has sold another quantity of 10,000 tons at Rs 77,500 PMT (excluding taxes) on the basis of highest responsive bid, against its 2nd tender (10,000 MT) of first tranch
Published 09 Nov, 2010 12:00am
US imposes Yemen, Somalia air cargo ban in security boost

US imposes Yemen, Somalia air cargo ban in security boost

US officials Monday extended a ban on air cargo from Yemen to include Somalia and slapped new restrictions on passenger goods on US-bound international flights after a foiled parcel bomb plot. From Monday, "no high risk cargo will be allowed on passenger
Published 09 Nov, 2010 12:00am
US imposes Yemen, Somalia air cargo ban in security boost

US imposes Yemen, Somalia air cargo ban in security boost

US officials Monday extended a ban on air cargo from Yemen to include Somalia and slapped new restrictions on passenger goods on US-bound international flights after a foiled parcel bomb plot. From Monday, "no high risk cargo will be allowed on passenger
Published 09 Nov, 2010 12:00am
Britain's Royal Navy website shut by hacker

Britain's Royal Navy website shut by hacker

The website of Britain's Royal Navy was shut down Monday after it was compromised by hackers. A posting said the site was shut for ``essential maintenance' and asked users to come back later. The Navy said in a statement that the website's security had be
Published 09 Nov, 2010 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 09 Nov, 2010 12:00am
Britain's Royal Navy website shut by hacker

Britain's Royal Navy website shut by hacker

The website of Britain's Royal Navy was shut down Monday after it was compromised by hackers. A posting said the site was shut for ``essential maintenance'' and asked users to come back later. The Navy said in a statement that the website's security had b
Published 09 Nov, 2010 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 09 Nov, 2010 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 09 Nov, 2010 12:00am
War on terror: Pakistan is not doing enough: Kabul

War on terror: Pakistan is not doing enough: Kabul

The Afghan government Monday accused Pakistan of failing to help bring peace to the region, saying "certain circles" in its neighbour were funding an insurgency plaguing both countries. The insurgency that has been raging in Afghanistan for more than nine
Published 09 Nov, 2010 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 09 Nov, 2010 12:00am
War on terror: Pakistan is not doing enough: Kabul

War on terror: Pakistan is not doing enough: Kabul

The Afghan government Monday accused Pakistan of failing to help bring peace to the region, saying "certain circles" in its neighbour were funding an insurgency plaguing both countries. The insurgency that has been raging in Afghanistan for more than nine
Published 09 Nov, 2010 12:00am
Eid holidays

Eid holidays

Prime Minister Syed Yousuf Raza Gilani has approved Eid-ul-Azha holidays on November 17, 18, and 19. Eid-ul-Azha will be celebrated across the country from November 17 and government and private offices will remain closed, it was officially announced on M
Published 09 Nov, 2010 12:00am
Eid holidays

Eid holidays

Prime Minister Syed Yousuf Raza Gilani has approved Eid-ul-Azha holidays on November 17, 18, and 19. Eid-ul-Azha will be celebrated across the country from November 17 and government and private offices will remain closed, it was officially announced on M
Published 09 Nov, 2010 12:00am
KSE holiday

KSE holiday

The Karachi Stock Exchange (KSE) will remain closed on November 9, on account of Allama Iqbal Day, said an announcement on Monday.
Published 09 Nov, 2010 12:00am
KSE holiday

KSE holiday

The Karachi Stock Exchange (KSE) will remain closed on November 9, on account of Allama Iqbal Day, said an announcement on Monday.
Published 09 Nov, 2010 12:00am
KSE holiday

KSE holiday

The Karachi Stock Exchange (KSE) will remain closed on November 9, on account of Allama Iqbal Day, said an announcement on Monday.
Published 09 Nov, 2010 12:00am
Tackling dengue spread: 'lack of resources main hindrance'

Tackling dengue spread: 'lack of resources main hindrance'

Health Minister Makhdoom Shahabuddin on Monday that lack of resources is the main hindrance in tackling the dengue virus, which according to him killed 21 people across the country. Updating the Upper House of the Parliament on the dengue situations, the
Published 09 Nov, 2010 12:00am
LHC summons SSP Investigation

LHC summons SSP Investigation

The Lahore High Court (LHC) has summoned SSP Investigation Zulfiqar Hameed in person and sought comments from Inspector General of Punjab Police in a petition challenging transfer of investigation in a case against a woman banker during her trial till Nov
Published 09 Nov, 2010 12:00am
THE RUPEE: dollar down sharply

THE RUPEE: dollar down sharply

Bullish trend persisted on the currency market on Monday as supply of dollars was strong, dealers said. The rupee rose by 12 paisa for buying and selling at 85.25 and 85.30, they said. In the first Asian trade dollar rose sharply as unwinding of dollar sh
Published 09 Nov, 2010 12:00am
Number of PhDs increases to 827 at UAF

Number of PhDs increases to 827 at UAF

The number of PhD club at University of Agriculture Faisalabad (UAF) has risen up to 827 with the award of degrees to another six PhD scholars including two females. A spokesman of UAF told newsmen on Monday that after fulfilling all the requirements, sch
Published 09 Nov, 2010 12:00am
THE RUPEE: dollar down sharply

THE RUPEE: dollar down sharply

Bullish trend persisted on the currency market on Monday as supply of dollars was strong, dealers said. The rupee rose by 12 paisa for buying and selling at 85.25 and 85.30, they said. In the first Asian trade dollar rose sharply as unwinding of dollar sh
Published 09 Nov, 2010 12:00am
Prime Minister announces upgradation of ICT educational institutions

Prime Minister announces upgradation of ICT educational institutions

Prime Minister Syed Yousuf Raza Gilani on Monday announced all educational institutions in the capital to be upgraded to model schools and colleges. The Prime Minister in a bid to ensure improvement in the quality and standard of education in Islamabad Ca
Published 09 Nov, 2010 12:00am
Robbers loot Rs 1.96 million from private bank

Robbers loot Rs 1.96 million from private bank

Unidentified armed men on Monday looted Rs 1.5 million from a private bank branch in Federal B Area. The robbers after holding bank employees hostage, swiftly completed their operation and walked off with the booty and the CCTV footages. The incident occu
Published 09 Nov, 2010 12:00am
Lack of quorum in Senate mars debate on economy

Lack of quorum in Senate mars debate on economy

The lack of quorum and absence of ministers on Monday marred the debate on the prevailing state of economy besides, other significant legislation that annoyed Chairman Senate Farooq H Naek who assured the House that strong notice will be taken to ensure p
Published 09 Nov, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (November 08, 2010).

Published 09 Nov, 2010 12:00am
PTI to launch mass contact drive after Eid

PTI to launch mass contact drive after Eid

Pakistan Tehreek-e-Insaf (PTI) says it has a comprehensive plan and strategy to ensure prosperity of the people of Pakistan and has chalked out comprehensive plan for mass contact drive, which is going to start after Eid-ul-Azha for up coming local body's
Published 09 Nov, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (November 08, 2010).

Published 09 Nov, 2010 12:00am
Prime Minister says will chair Balochistan specific CDWP meeting soon

Prime Minister says will chair Balochistan specific CDWP meeting soon

Prime Minister Syed Yousuf Raza Gilani has said that he will chair a Balochistan specific CDWP meeting at Quetta in the coming weeks after Eid to approve new important schemes for the development of the province. He has further said that though the govern
Published 09 Nov, 2010 12:00am
Call for reforms to improve police performance

Call for reforms to improve police performance

The speakers and experts, while highlighting deficiencies in the police department, said that an effective check and balance system, culture of accountability under an internal mechanism, community policing, modern trainings and equipment were necessary t
Published 09 Nov, 2010 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Monday (November 08, 2010).

Published 09 Nov, 2010 12:00am
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