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Nov 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2010-12-17
Ali Ayaz Fakhri laid to rest

Ali Ayaz Fakhri laid to rest

Ali Ayaz Fakhri, son of Jamil Fakhri, a prominent artist was laid to rest in Miani Sahib Graveyard here on Thursday. His funeral prayer was offered at Qila Lachhman Singh which was attended by PPP Secretary General Jehangir Badr, PML-N MNA Malik Riaz Ahme
Published 17 Dec, 2010 12:00am
WikiLeaks inspires sanitary pad advertising in Pakistan

WikiLeaks inspires sanitary pad advertising in Pakistan

Pakistani advertisers in the feminine hygiene business have harnessed the political notoriety of WikiLeaks to tell women that while the US State Department might leak, they don't have to. Advertising sanitary pads on selected billboards in Pakistan's fina
Published 17 Dec, 2010 12:00am
Laying railway track: Pakistan, China agree to constitute consortium

Laying railway track: Pakistan, China agree to constitute consortium

Pakistan and China have agreed in principle to constitute a consortium for seeking a soft-term loan from some international company for laying a railway track between the two countries, an official said. Talking to APP, he said a six-member committee comp
Published 17 Dec, 2010 12:00am
One injured in armed clash

One injured in armed clash

An armed clash between two religious groups left a person injured in the limits of Sarjani Town police station. Two religious groups scuffled on the issue of chanting slogans at Sarjani Town sector 7-A near Siddique-e-Akbar mosque, which left one mourner
Published 17 Dec, 2010 12:00am
Pakistan to seek China's assistance in overcoming energy crisis

Pakistan to seek China's assistance in overcoming energy crisis

Pakistan may seek China's assistance to overcome power crisis through three gorge dam technology. The three gorge dam plant, world's largest electricity-generation plant having the capacity of producing 36,000 Mega Watt electricity can become a major ener
Published 17 Dec, 2010 12:00am
Altaf contacts Shujaat, Kasuri

Altaf contacts Shujaat, Kasuri

Muttahida Qaumi Movement (MQM) chief Altaf Hussain contacted former foreign minister Khursheed Kasuri, who is also a senior leader of PML-Q (Like-minded group) here on Thursday. Through their telephonic conversation, both the leaders extensively discussed
Published 17 Dec, 2010 12:00am
There is still possibility of talk with JUI: Qureshi

There is still possibility of talk with JUI: Qureshi

Foreign Minister Shah Mehmood Qureshi on Thursday said that there was still the possibility of talks with JUI-F. Talking to media after attending Hussainia Conference jointly organised by Anjuman Saqafat-e-Pakistan and Islamic Media, he said that Maulana
Published 17 Dec, 2010 12:00am
Zardari calls for harmony, tolerance on Youm-i-Ashur

Zardari calls for harmony, tolerance on Youm-i-Ashur

President Asif Ali Zardari called for harmony and tolerance on the solemn occasion of Youm-i-Ashur and urged people to watch out for those who were out to destroy sectarian harmony.
Published 17 Dec, 2010 12:00am
Three bogies of Bao Express derail

Three bogies of Bao Express derail

Three bogies of 229-Up Bao Express train derailed at Bahuman railway station, some 70 kilometres off here on Thursday. According to Railway police, the train left from Lahore and was heading towards Shorkot via Sheikhupura and Jaranwala when its three bog
Published 17 Dec, 2010 12:00am
Taslim elected new chairperson of Hijaz Hospital

Taslim elected new chairperson of Hijaz Hospital

Hijaz Welfare Hospital Gulberg management has elected Taslim Firdous as its chairperson. This was decided during the executive body meeting chaired by Haji Inam Elahi Asar. Mrs Taslim Firdous is the wife of late Mian Abdul Waheed, founder chairman of the
Published 17 Dec, 2010 12:00am
72 percent of girls' schools lack security setup: report

72 percent of girls' schools lack security setup: report

Almost three-fourth (72 percent) of Girls Middle Schools in the country do not have any security arrangements, according to a sample survey carried out by FAFEN Education Institution Monitor. The Free and Fair Election Network (FAFEN) survey was based on
Published 17 Dec, 2010 12:00am
Filing tax returns: MCCI urges FBR to extend deadline

Filing tax returns: MCCI urges FBR to extend deadline

President of Multan Chamber of Commerce & Industry (MCCI), Shahid Naseem Khokhar has appreciated the efforts of Federal Board of Revenue (FBR) for providing excellent facilities to taxpayers such as e-filing of tax-returns and other services, aimed at pro
Published 17 Dec, 2010 12:00am
Cop killed in road accident

Cop killed in road accident

A policeman was killed in a road accident within the limits of Korangi Industrial Area police station in Korangi on Thursday. A policeman Ghulam Shabbir, aged 44, s/o Ali Nawaz, was on his way to somewhere on a bike when a speeding dumper-truck hit his ve
Published 17 Dec, 2010 12:00am
Denmark extends healthcare facilities to flood-affected people

Denmark extends healthcare facilities to flood-affected people

Danish Emergency Management Agency (DEMA) has successfully established various field hospitals in flood-hit areas for providing immediate healthcare facilities to the flood affectees. In response to Pakistan's urgent need of healthcare provision and easy
Published 17 Dec, 2010 12:00am
Administration asked to ensure Majalis', processions' security

Administration asked to ensure Majalis', processions' security

Senior Advisor to Punjab Chief Minister, Sardar Zulfiqar Ali Khan Khosa has directed the administration to pay full attention to the security of Majalis and processions of Aashura and all resources should be utilised for this purpose.He said that all secu
Published 17 Dec, 2010 12:00am
Minister pays tribute to late M A Zuberi

Minister pays tribute to late M A Zuberi

Federal Women Development Minister, Dr Firdous Ashiq Awan has expressed sorrow over the sad demise of veteran journalist and founder of Daily Business Recorder and Editor-in-Chief and Patron-in-chief of Aaj TV news channel, M.A Zuberi. Talki
Published 17 Dec, 2010 12:00am
Ashura processions: around 150 vehicles impounded

Ashura processions: around 150 vehicles impounded

Law enforcement agencies forcibly lifted around 150 public transporter vehicles illegally two days earlier for maintaining security situation during main Ashura processions by starting possession from 7th Moharram in order to curb any possible mishap by p
Published 17 Dec, 2010 12:00am
Prime Minister greets Bhutanese counterpart on National Day

Prime Minister greets Bhutanese counterpart on National Day

Prime Minister Syed Yousuf Raza Gilani has greeted the Prime Minister of the Kingdom of Bhutan, Lyonchen Jigmi Y. Thinley on their National Day falling on December 17. In his message of greetings, the Prime Minister said "on behalf of the Government and t
Published 17 Dec, 2010 12:00am
SU to establish linkages with Italy, Kazakhstan universities

SU to establish linkages with Italy, Kazakhstan universities

The University of Sindh will imitate academic linkage agreements with the Universities of Italy and Kazakhstan in different areas especially in Archaeology, Anthropology and Geology. This was discussed between the Vice Chancellor University of Sindh, Prof
Published 17 Dec, 2010 12:00am
Ashura processions: over 20,000 cops, 4,000 Rangers deployed

Ashura processions: over 20,000 cops, 4,000 Rangers deployed

Over 20,000 policemen and 4000 Rangers have been deployed in the city for Ashura processions and congregations after LEAs warning of possible terror attacks. During first 10 days of Moharram every year around 1196 processions are taken out in the city. LE
Published 17 Dec, 2010 12:00am
Wen's visit attracts great media coverage

Wen's visit attracts great media coverage

The official and private media is giving great importance to the visit of Chinese Prime Minister Wen Jiabao to Pakistan. Electronic and print media have made special arrangements to cover the visit, PTV reported. The extraordinary importance, given by the
Published 17 Dec, 2010 12:00am
PPP to woo JUI-F to return to government fold: Mukhtar

PPP to woo JUI-F to return to government fold: Mukhtar

Federal Minister for Defence, Ahmed Mukhtar has said that PPP would succeed to woo Maulana Fazlur Rehman for return of JUI-F in the coalition government. Talking to media after condoling death of the father of UAE Honorary Counsel General Chaudhry Munir a
Published 17 Dec, 2010 12:00am
IGP Sindh contract extended

IGP Sindh contract extended

The contract of Inspector General of Police (IGP), Sindh, Sultan Salahuddin Babar Khattak, has been extended till further orders. This was stated by the spokesman of the Sindh police here on Thursday. He stated that a notification to this effect has been
Published 17 Dec, 2010 12:00am
Militants blow up Girls school

Militants blow up Girls school

Unidentified militants on Thursday here blew up a government girls primary school at Matani-Adezai area and escaped from the scene. The miscreants planted powerful bombs near walls of the schools and detonated it with remote control device. The buildings
Published 17 Dec, 2010 12:00am
Obama phones Zardari, discusses policy review on Afghanistan

Obama phones Zardari, discusses policy review on Afghanistan

The US President Barack Obama called President Asif Ali Zardari on Thursday night and apprised him about the salient features of the just concluded US policy review on Afghanistan. Both the leaders also discussed the situation in the region. President Oba
Published 17 Dec, 2010 12:00am
Belarus opposition smarts after Moscow reconciliation

Belarus opposition smarts after Moscow reconciliation

An opponent of Belarussian President Alexander Lukashenko on Thursday called his supporters onto the streets ahead of an election he said would be rigged, but acknowledged the opposition was bound "hand and foot". Vladimir Neklyayev, head of the 'Tell the
Published 17 Dec, 2010 12:00am
Chinese foreign direct investment up 38 percent

Chinese foreign direct investment up 38 percent

Foreign direct investment in China leapt 38.17 percent in November, the government said Wednesday, despite efforts by authorities to cool the economy and stem liquidity flows. Analysts said the spike in foreign investment may have been driven by excess gl
Published 17 Dec, 2010 12:00am
British banking rescue bill sinks

British banking rescue bill sinks

The bill for Britain's banking-sector bailouts has plunged since the peak of the global financial crisis but currently stands at about 512 billion pounds, the government's spending watchdog said Wednesday. The latest estimate, equivalent to 604 billion eu
Published 17 Dec, 2010 12:00am
Legal backing for IRS, PCS sought: FBR wants rules amended

Legal backing for IRS, PCS sought: FBR wants rules amended

The Federal Board of Revenue has asked the Cabinet Division to amend the Rules of Business 1973 for giving legal backing to the newly created Inland Revenue Service and Pakistan Customs Service under the government rules and regulations. Sources told B
Published 17 Dec, 2010 12:00am
Legal backing for IRS, PCS sought: FBR wants rules amended

Legal backing for IRS, PCS sought: FBR wants rules amended

The Federal Board of Revenue has asked the Cabinet Division to amend the Rules of Business 1973 for giving legal backing to the newly created Inland Revenue Service and Pakistan Customs Service under the government rules and regulations. Sources told B
Published 17 Dec, 2010 12:00am
Legal backing for IRS, PCS sought: FBR wants rules amended

Legal backing for IRS, PCS sought: FBR wants rules amended

The Federal Board of Revenue has asked the Cabinet Division to amend the Rules of Business 1973 for giving legal backing to the newly created Inland Revenue Service and Pakistan Customs Service under the government rules and regulations. Sources told B
Published 17 Dec, 2010 12:00am
Pakistan may request for Extension: IMF SBA expires on December 31

Pakistan may request for Extension: IMF SBA expires on December 31

The government may request the International Monetary Fund (IMF) Executive Board meeting today (Friday) for extension of $11.3 billion stand-by-arrangement (SBA) programme officially expiring on December 31, it is reliably learnt. Sources said the IMF pro
Published 17 Dec, 2010 12:00am
Pakistan may request for Extension: IMF SBA expires on December 31

Pakistan may request for Extension: IMF SBA expires on December 31

The government may request the International Monetary Fund (IMF) Executive Board meeting today (Friday) for extension of $11.3 billion stand-by-arrangement (SBA) programme officially expiring on December 31, it is reliably learnt. Sources said the IMF pro
Published 17 Dec, 2010 12:00am
Pakistan may request for Extension: IMF SBA expires on December 31

Pakistan may request for Extension: IMF SBA expires on December 31

The government may request the International Monetary Fund (IMF) Executive Board meeting today (Friday) for extension of $11.3 billion stand-by-arrangement (SBA) programme officially expiring on December 31, it is reliably learnt. Sources said the IMF pro
Published 17 Dec, 2010 12:00am
Gilani, Wen to hold formal talks today

Gilani, Wen to hold formal talks today

Prime Minister Syed Yousuf Raza Gilani and Chinese Prime Minister Wen Jiabao will hold formal talks on Friday, covering wide ranging topics of bilateral interest to expand decades' old ever-green relationship, with greater focus on their growing economic
Published 17 Dec, 2010 12:00am
Gilani, Wen to hold formal talks today

Gilani, Wen to hold formal talks today

Prime Minister Syed Yousuf Raza Gilani and Chinese Prime Minister Wen Jiabao will hold formal talks on Friday, covering wide ranging topics of bilateral interest to expand decades' old ever-green relationship, with greater focus on their growing economic
Published 17 Dec, 2010 12:00am
Yaum-e-Ashur today

Yaum-e-Ashur today

'Yaum-e-Ashur,' the 10th day of Muharram is being observed throughout the country and Azad Kashmir on Friday (today) with reverence and solemnity amid stringent security measures adopted by the Law-Enforcing Agencies. The day is observed to commemorate th
Published 17 Dec, 2010 12:00am
Yaum-e-Ashur today

Yaum-e-Ashur today

'Yaum-e-Ashur,' the 10th day of Muharram is being observed throughout the country and Azad Kashmir on Friday (today) with reverence and solemnity amid stringent security measures adopted by the Law-Enforcing Agencies. The day is observed to commemorate th
Published 17 Dec, 2010 12:00am
WikiLeaks founder released from British custody

WikiLeaks founder released from British custody

Julian Assange is swapping a Victorian prison cell for an English country mansion after a judge granted bail to the WikiLeaks founder wanted in Sweden for questioning on sex-crimes allegations. The decision was greeted with delight by supporters who belie
Published 17 Dec, 2010 12:00am
WikiLeaks founder released from British custody

WikiLeaks founder released from British custody

Julian Assange is swapping a Victorian prison cell for an English country mansion after a judge granted bail to the WikiLeaks founder wanted in Sweden for questioning on sex-crimes allegations. The decision was greeted with delight by supporters who belie
Published 17 Dec, 2010 12:00am
Tremendous growth in e-banking witnessed

Tremendous growth in e-banking witnessed

E-banking has grown tremendously in recent years and considerable improvement in the e-banking infrastructure and activities during last fiscal year 2010-11 is a continuation of recent trends. According to the State Bank of Pakistan (SBP) the quarterly nu
Published 17 Dec, 2010 12:00am
Tremendous growth in e-banking witnessed

Tremendous growth in e-banking witnessed

E-banking has grown tremendously in recent years and considerable improvement in the e-banking infrastructure and activities during last fiscal year 2010-11 is a continuation of recent trends. According to the State Bank of Pakistan (SBP) the quarterly nu
Published 17 Dec, 2010 12:00am
Tremendous growth in e-banking witnessed

Tremendous growth in e-banking witnessed

E-banking has grown tremendously in recent years and considerable improvement in the e-banking infrastructure and activities during last fiscal year 2010-11 is a continuation of recent trends. According to the State Bank of Pakistan (SBP) the quarterly nu
Published 17 Dec, 2010 12:00am
Holiday notice

Holiday notice

The offices of Business Recorder will remain closed today, Friday (December 17) on account of ASHURA. There will, therefore, be no issue of the newspaper and Internet Edition tomorrow, Saturday (December 18). However arrangement has been made to up
Published 17 Dec, 2010 12:00am
Managing Director Pepco admits Discos over-billing consumers

Managing Director Pepco admits Discos over-billing consumers

Managing Director, Pakistan Electric Power Company (Pepco), Rasul Khan Mahsud, has acknowledged that ''inefficient'' Distribution Companies (Discos) are engaged in blatant over billing to consumers which is tarnishing the image of the companies, well-info
Published 17 Dec, 2010 12:00am
Managing Director Pepco admits Discos over-billing consumers

Managing Director Pepco admits Discos over-billing consumers

Managing Director, Pakistan Electric Power Company (Pepco), Rasul Khan Mahsud, has acknowledged that 'inefficient' Distribution Companies (Discos) are engaged in blatant over billing to consumers which is tarnishing the image of the companies, well-inform
Published 17 Dec, 2010 12:00am
Managing Director Pepco admits Discos over-billing consumers

Managing Director Pepco admits Discos over-billing consumers

Managing Director, Pakistan Electric Power Company (Pepco), Rasul Khan Mahsud, has acknowledged that 'inefficient' Distribution Companies (Discos) are engaged in blatant over billing to consumers which is tarnishing the image of the companies, well-inform
Published 17 Dec, 2010 12:00am
IFJ condoles M A Zuberi's death

IFJ condoles M A Zuberi's death

International Federation of Journalists (Asia-Pacific) has condoled the death of Business Recorder Editor-in-Chief M A Zuberi. In a message to Pakistan Federal Union of Journalists (PFUJ) Jacquelline Park, IFJ Asia-Pacific Director, said: "Dear Per
Published 17 Dec, 2010 12:00am
IFJ condoles M A Zuberi's death

IFJ condoles M A Zuberi's death

International Federation of Journalists (Asia-Pacific) has condoled the death of Business Recorder Editor-in-Chief M A Zuberi. In a message to Pakistan Federal Union of Journalists (PFUJ) Jacquelline Park, IFJ Asia-Pacific Director, said: "Dear Per
Published 17 Dec, 2010 12:00am
Iran accuses Pakistan of links to suicide bombers

Iran accuses Pakistan of links to suicide bombers

Iran on Thursday accused Pakistani officials of being connected with this week's suicide bomb attack in the south-east of the country, state media reported. "Some local Pakistani officials are linked to the terrorist act in Chabahar," Ali Abdollahi, the d
Published 17 Dec, 2010 12:00am
Iran accuses Pakistan of links to suicide bombers

Iran accuses Pakistan of links to suicide bombers

Iran on Thursday accused Pakistani officials of being connected with this week's suicide bomb attack in the south-east of the country, state media reported. "Some local Pakistani officials are linked to the terrorist act in Chabahar," Ali Abdollahi, the d
Published 17 Dec, 2010 12:00am
The Weather

The Weather

The weather report on Thursday (December 16, 2010)and the forecast for Friday (December 17, 2010).

Published 17 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 17 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 17 Dec, 2010 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (December 16, 2010).

Published 17 Dec, 2010 12:00am
BRIDGE NOTES: Flexible all the way

BRIDGE NOTES: Flexible all the way

Bridge is a game of communication and flexibility. There is so much to think ahead of your moves like in Chess. Those who combine all their chances in the right priority order are the ones who finish way ahead in the race.
Published 17 Dec, 2010 12:00am
All that glitters is not gold-II

All that glitters is not gold-II

Despite the last paean to the incandescent winter sunshine, it turns out like most things, to have a darker side. The Midas touch doesn't turn things to gold, it turns them black. So if you are enticed to banish the winter chill or indulge yourself by toa
Published 17 Dec, 2010 12:00am
WEIGHT FREAKS!!!

WEIGHT FREAKS!!!

There are always two sides to a picture. For those of you who do not know what I am talking about can bring their activities to a halt and see the fact that either there are blubbers or weight freaks. However things have changed in the past few years. We
Published 17 Dec, 2010 12:00am
Defeating winter weight gain

Defeating winter weight gain

For most of the people, winter weight gain is harder to control. Usually complaints of weight gain, increase with the falling temperature. Reduced exercise, increased desire for eating sweets and high calories food, and seasonal effective disorders are th
Published 17 Dec, 2010 12:00am
ART FACTS: 'No Honour in Killing'

ART FACTS: 'No Honour in Killing'

From time to time artists - the most sensitive section of a society try to bring forward certain social evils of our society in a hope to solve those problems or if not solved at least bring them to the knowledge of common people who may find a way to cur
Published 17 Dec, 2010 12:00am
KARACHI CHRONICLE: Football ignored

KARACHI CHRONICLE: Football ignored

It is strange that the Pakistan Olympic Association (POA) has excluded Football from the forthcoming National Games scheduled to be held in different cities in Khyber Pakhtunkhwa from December 25 to 31. This is discrimination of the working class since th
Published 17 Dec, 2010 12:00am
Once upon a time: A country

Once upon a time: A country

They started everything in the name of religion and they have ruined everything in the name of the same. A mediocre country with the capacity to feed its limited population well enough for ages without having the need to take billions of loans and aid fro
Published 17 Dec, 2010 12:00am
The 'virus' of politics

The 'virus' of politics

There are a number of personality traits in the psychological make-up of individuals that are either good or bad. Addictive behaviour is one such manifestation of a trait. Addiction is a recurring compulsion by an individual to engage in a specific activi
Published 17 Dec, 2010 12:00am
Rights courts faults Ireland on abortion ban

Rights courts faults Ireland on abortion ban

The European Court of Human Rights ruled against Ireland on Thursday for stopping a Lithuanian cancer sufferer from terminating a pregnancy, in a blow to the predominantly Catholic country and its tough abortion laws. In a final ruling, the rights court f
Published 17 Dec, 2010 12:00am
Turkey tries military over alleged anti-government plot

Turkey tries military over alleged anti-government plot

Nearly 200 Turkish military officers, including three top retired commanders, went on trial on Thursday charged with plotting against the government in a case likely to strain ties with the secularist armed forces. Amid tight security the officers filed i
Published 17 Dec, 2010 12:00am
Pope decries growing 'Christianophobia' in Europe

Pope decries growing 'Christianophobia' in Europe

Pope Benedict voiced the Catholic Church's deep concern over "hostility and prejudice" against Christianity in Europe on Thursday, saying creeping secularism was just as bad as religious fanaticism. In the message for the Roman Catholic Church's World Day
Published 17 Dec, 2010 12:00am
US arrests four in widening hedge fund probe

US arrests four in widening hedge fund probe

Three consultants and a salesman affiliated with an "expert network" firm were arrested and charged with conspiracy and wire fraud on Thursday in the US government's widening probe of insider trading at hedge funds, according to court documents.
Published 17 Dec, 2010 12:00am
Son of Libyan leader says charity to quit politics

Son of Libyan leader says charity to quit politics

A son of Libyan leader Muammar Gaddafi has announced his charity is withdrawing from politics, in an indication he has lost ground in a power struggle with conservatives who oppose his efforts at reform. The Gaddafi Foundation is one of the main levers of
Published 17 Dec, 2010 12:00am
CFTC toughens commodity limits, relents on some rules

CFTC toughens commodity limits, relents on some rules

The US futures regulator on Thursday set out its most aggressive measures yet to prevent speculators from distorting commodity markets, but relented on several steps opposed by Wall Street banks and big traders. The Commodity Futures Trading Commission's
Published 17 Dec, 2010 12:00am
Chevron to spend $4 billion on Gulf of Mexico project

Chevron to spend $4 billion on Gulf of Mexico project

Chevron Corp has approved $4 billion for its Big Foot project, in its second major Gulf of Mexico development in two months, even as tougher rules and higher costs loom for US deepwater operators. Royal Dutch Shell Plc gave the go-ahead in late September
Published 17 Dec, 2010 12:00am
US financial rescue cheap versus past crises: Geithner

US financial rescue cheap versus past crises: Geithner

Overall US financial bailout costs look cheap compared to past crises, with the final net cost of US Treasury rescue efforts likely under $25 billion, Treasury Secretary Timothy Geithner said on Thursday. Geithner told bailout overseers that the Treasury
Published 17 Dec, 2010 12:00am
Spain overtakes France as Europe's high-speed rail leader

Spain overtakes France as Europe's high-speed rail leader

Spain will hurtle past France as Europe's high speed rail leader on Sunday when it opens a 6.6-billion-euro line from Madrid to Valencia, banking on a boost to the economy. The 438-kilometre (272-mile) route will slash travel time between the Spanish capi
Published 17 Dec, 2010 12:00am
US jobless claims fall

US jobless claims fall

New US claims for jobless aid fell last week and factory activity in the country's Mid-Atlantic region grew at its quickest pace in more than 5-1/2 years this month, indicating the economic recovery is gaining traction. Thursday's data added to views that
Published 17 Dec, 2010 12:00am
Ireland avoids recession, debt doubts remain

Ireland avoids recession, debt doubts remain

Ireland avoided slipping back into recession in the third quarter but its modest growth rates underline the huge challenge ahead in tackling its financial crisis. Ireland's debt levels have quadrupled on the back of a banking sector meltdown and it needs
Published 17 Dec, 2010 12:00am
Twitter financing values company at $3.7 billion

Twitter financing values company at $3.7 billion

Twitter has raised $200 million of financing in a deal that values the microblogging company at $3.7 billion, less than a year after it began its first serious efforts to make money. The funding, from Silicon Valley venture capital firm Kleiner Perkins Ca
Published 17 Dec, 2010 12:00am
Credit Suisse employees raided

Credit Suisse employees raided

German prosecutors intensified a tax evasion clampdown by raiding the homes of Credit Suisse employees and reaching a deal with Liechtenstein's LGT to settle a tax probe. A spokesman for the Duesseldorf prosecutor's office on Thursday said four employees
Published 17 Dec, 2010 12:00am
US and China make progress on beef, software trade

US and China make progress on beef, software trade

Top US and Chinese officials said on Wednesday they had made progress on beef, software and other bilateral trade irritants, reducing some friction ahead of a presidential summit next month. "The understandings that we reached today will help to protect A
Published 17 Dec, 2010 12:00am
India's Hero to buy Honda stake in motorcycle joint venture

India's Hero to buy Honda stake in motorcycle joint venture

Indian group Hero is to buy Honda Motor's 26 percent stake in their motorcycle venture Hero Honda Motors, paving the way for the Japanese company to focus on its wholly-owned Indian unit. The companies did not disclose financial details of the deal on Thu
Published 17 Dec, 2010 12:00am
Nokia expands patent row with Apple in Europe

Nokia expands patent row with Apple in Europe

Nokia, the world's top cellphone maker by volume, on Thursday opened new fronts in Europe in its patent war with iPhone maker Apple, launching lawsuits in Germany and the Netherlands. The 13 new complaints for using Nokia's technology are part of an escal
Published 17 Dec, 2010 12:00am
ECB boosts capital to cope with eurozone crisis

ECB boosts capital to cope with eurozone crisis

The European Central Bank acted to increase its financial firepower in the eurozone debt crisis on Thursday by deciding to almost double its capital to cope with increased credit risk and market volatility. The ECB, in charge of monetary policy in the 16-
Published 17 Dec, 2010 12:00am
Euro/dollar cross currency basis swaps at seven-month lows

Euro/dollar cross currency basis swaps at seven-month lows

Benchmark interbank dollar costs nudged up on Thursday with dollar financing conditions remaining tight for eurozone borrowers as the sovereign debt crisis kept money markets on edge. Five-year euro/dollar cross currency basis swaps - which measure the co
Published 17 Dec, 2010 12:00am
China will keep yuan stable

China will keep yuan stable

The groundwork is in place for a stable yuan because China's current account surplus is trending down and other currencies have been swirling about in choppy trade, an official newspaper said on Thursday. The Financial News, which is published by the cent
Published 17 Dec, 2010 12:00am
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