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Print - 2010-12-28
Nominal business in lacklustre condition on cotton market

Nominal business in lacklustre condition on cotton market

Cotton market lacked normal trading activity on Monday as Sindh Government announced a holiday on account of third death anniversary of former prime minister Benazir Bhutto, dealers said. The Karachi Cotton Association (KCA) spot rate was unchanged at Rs
Published 28 Dec, 2010 12:00am
No business seen on grain market

No business seen on grain market

Not a single change was seen on the wholesale grain and seed market on Monday as several commercial centres were closed due to holiday in Sindh on account of third death anniversary of former prime minister Benazir Bhutto, grain, seed merchants group's re
Published 28 Dec, 2010 12:00am
Investors line up for first IPOs in Laos

Investors line up for first IPOs in Laos

Eager novice investors in communist Laos signed up for shares as the country's first-ever initial public offerings came to a close, an investment banker said Monday. EDL-Generation Public Company has offered 217 million common shares this month at a fixed
Published 28 Dec, 2010 12:00am
Beijing to raise minimum wage by 21 percent

Beijing to raise minimum wage by 21 percent

The minimum wage in China's capital city will go up by 21 percent next year, state media said on Monday, a sign that labour costs in the world's second-largest economy are on track to rise strongly again in 2011. Beijing will lift the floor for wages by 2
Published 28 Dec, 2010 12:00am
Police disperse jobs protest in Tunis

Police disperse jobs protest in Tunis

Tunisian police used batons on Monday to disperse a demonstration by jobless graduates demanding work and what they called an end to corruption, the first time a recent spate of protests has reached the capital. Around 1,000 people took part in the demons
Published 28 Dec, 2010 12:00am
Philippine leader signs massive budget

Philippine leader signs massive budget

Philippine President Benigno Aquino signed into law on Monday a massive 1.645 trillion-peso (37.3 billion-dollar) budget for 2011 which he said was designed to fight poverty and spur development. The 2011 budget, which is 6.8 percent higher than last year
Published 28 Dec, 2010 12:00am
India's bank further curbs transactions with Iran

India's bank further curbs transactions with Iran

India's central bank on Monday further curbed transactions with Iran, saying all current account transactions including trade deals with the Islamic Republic should be settled outside the Asian Clearing Union (ACU). Reuters had reported on Friday that the
Published 28 Dec, 2010 12:00am
China sees strong growth in cross-border yuan trade

China sees strong growth in cross-border yuan trade

Trade transactions settled in China's yuan currency totalled 388 billion yuan ($58.4 billion) as of the end of November, the People's Bank of China said on Monday. Nearly all of that, or about 340 billion yuan, was conducted in the second half of this yea
Published 28 Dec, 2010 12:00am
Iraq's daily oil production exceeds 2.6 million barrels

Iraq's daily oil production exceeds 2.6 million barrels

Iraq's newly appointed oil minister on Monday said the country's daily oil production has increased by about 100,000 barrels a day, exceeding 2.6 million barrels per day for the first time in 20 years. Abdul-Karim Elaibi said Iraq's production of crude wi
Published 28 Dec, 2010 12:00am
Dubai's Emaar, Saudi's Jadawel settle dispute

Dubai's Emaar, Saudi's Jadawel settle dispute

The Dubai developer of the world's tallest tower Emaar Properties and Saudi real estate firm Jadawel International say they have agreed to settle their long-running legal dispute. The companies said in a joint statement posted on Monday by Emaar on the Du
Published 28 Dec, 2010 12:00am
ECB steps up bond purchases to $1.47 billion

ECB steps up bond purchases to $1.47 billion

Data from the European Central Bank shows it bought government bonds worth ¤1.121 billion ($1.468 billion) in the week ended December 24, as the ECB stepped up bond purchases in its fight against Europe's debt crisis.
Published 28 Dec, 2010 12:00am
AIG gets $3 billion in facilities

AIG gets $3 billion in facilities

Insurance giant AIG is taking yet another step on its road to recovery, obtaining $3 billion in credit facilities. The news sent AIG shares soaring 6 percent in morning trading Monday. The New-York based company said it will be able to tap the facilities
Published 28 Dec, 2010 12:00am
Basel Committee seeks detailed rules on bank pay

Basel Committee seeks detailed rules on bank pay

Global banking supervisors tackling issues like bonuses, which drew ire during the economic crisis, said banks should disclose how an individual's pay is linked to the firm's performance, including longer-term profitability. Under new proposals, banks wou
Published 28 Dec, 2010 12:00am
PepsiCo's Russia deal gets initial nod of approval

PepsiCo's Russia deal gets initial nod of approval

PepsiCo's biggest acquisition outside the United States made progress on Monday when the head of Russia's anti-monopoly service said the unit looked favourably on the US company's take-over of a major local firm. PepsiCo on December 2 agreed to pay 5.4 bi
Published 28 Dec, 2010 12:00am
Azerbaijan to supply oil to Belarus for Venezuela

Azerbaijan to supply oil to Belarus for Venezuela

Azerbaijan has agreed to supply crude oil to Belarus on behalf of Venezuela and, in return, the Latin American country will provide oil to meet Azerbaijan's export commitments to the United States, state energy company SOCAR said. "We signed swap deals be
Published 28 Dec, 2010 12:00am
Nestle takes majority stake in Turkish firm

Nestle takes majority stake in Turkish firm

Swiss food conglomerate Nestle said Monday it had acquired a majority stake in Turkish confectionery brands Dogan and Balaban Gida as it seeks to expand in the low-income segment of the market. Nestle did not disclose financial details concerning the acqu
Published 28 Dec, 2010 12:00am
German industry to create 70,000 jobs in 2011

German industry to create 70,000 jobs in 2011

Germany's manufacturing industry will create 70,000 new jobs next year, the head of the German Chamber of Industry and Commerce (DIHK) told a newspaper, citing a study it conducted. "Industry will therefore contribute a quarter of the growth in employment
Published 28 Dec, 2010 12:00am
Bargain hunters hit sales in Britain

Bargain hunters hit sales in Britain

Shoppers thronged London's top stores on Monday hunting for bargains in the post-Christmas sales, with former supermodel Jerry Hall helping to open proceedings at Harrods. Mick Jagger's ex-wife and her daughter Lizzy arrived at the renowned department sto
Published 28 Dec, 2010 12:00am
South East Asian markets: Singapore near two-week high

South East Asian markets: Singapore near two-week high

Singapore shares climbed to two-week highs on Monday and other Southeast Asian stock markets mostly posted small gains, with a surprise interest rate rise in China doing little to dampen optimism about economic growth. Investors bought commodity shares, e
Published 28 Dec, 2010 12:00am
Bulgaria exchange plans debut on January 6

Bulgaria exchange plans debut on January 6

The shares of the Sofia Stock Exchange, in which the Bulgarian finance ministry is a majority holder, will be listed on January 6 in a bid to boost transparency and attract a strategic investor, the bourse said. The exchange will register for trade all of
Published 28 Dec, 2010 12:00am
Shanghai shares up, yuan falls

Shanghai shares up, yuan falls

Chinese investors went from relief to apprehension of more tightening ahead on Monday after the central bank's surprise Christmas Day interest rate rise, pushing the stock market down 1.9 percent after earlier gains. The 25-basis-point increase in benchma
Published 28 Dec, 2010 12:00am
Monday's morning trade: Wall Street dips after China rate hike

Monday's morning trade: Wall Street dips after China rate hike

US stocks slipped on Monday as a surprise interest rate hike from China's central bank over the weekend prompted investors, worried about demand, to sell equities. China's central bank raised interest rates on Saturday for the second time in just over two
Published 28 Dec, 2010 12:00am
Seoul shares fall

Seoul shares fall

Seoul shares edged lower on Monday amid year-end thin volume and weighed down by a surprise decision by China's central bank to raise interest rates on Christmas day, a move that hurt automakers including Hyundai Motor. The Korea Composite Stock Price Ind
Published 28 Dec, 2010 12:00am
Nikkei average rises

Nikkei average rises

Japan's Nikkei average rose 0.8 percent on Monday in thin trade as increased appetite for lagging Tokyo stocks in recent weeks helped to offset concerns over China's weekend interest rate hike. Global stocks and commodities are hovering near multiyear hig
Published 28 Dec, 2010 12:00am
Markets closed

Markets closed

Stock and financial markets in United Kingdom, Australia, Hong Kong, New Zealand and the Philippines are closed on Monday for public holidays. London markets will remained closed on Tuesday.
Published 28 Dec, 2010 12:00am
Middle East markets: UAE bank stocks fall on provisioning worries

Middle East markets: UAE bank stocks fall on provisioning worries

United Arab Emirates banking stocks declined on Monday, after the central bank asked lenders to raise to 80 percent their provisions against exposure to two Saudi conglomerates. Newspapers quoted a central bank circular as saying banks must take the provi
Published 28 Dec, 2010 12:00am
European shares down in extremely thin trading

European shares down in extremely thin trading

European stocks closed lower in extremely thin trading on Monday after China's interest rate rise over the weekend fuelled concerns about the outlook for economic growth. The FTSEurofirst 300 ended down 0.9 percent at 1,137.49, with German carmakers Volks
Published 28 Dec, 2010 12:00am
Euribor longer rates lower

Euribor longer rates lower

Longer-term euro-priced bank-to-bank lending rates inched lower on Monday, pushed down by excess market liquidity and the ECB's promise to keep providing banks with unlimited cash until at least April. The three-month Euribor rate - traditionally the main
Published 28 Dec, 2010 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 70.69/70.70 (previous 70.69/70.70). Call Money Rates: 16.00-20.00 percent (previous 8.0-22.50 percent).
Published 28 Dec, 2010 12:00am
South Korean bonds fall

South Korean bonds fall

South Korean government bond prices fell on Monday in light trading ahead of holidays as China's interest rate increase over the weekend renewed attention on the prospects of rising local inflation pressures. Analysts have already forecast the Bank of Kor
Published 28 Dec, 2010 12:00am
South Korean bonds fall

South Korean bonds fall

South Korean government bond prices fell on Monday in light trading ahead of holidays as China's interest rate increase over the weekend renewed attention on the prospects of rising local inflation pressures. Analysts have already forecast the Bank of Kor
Published 28 Dec, 2010 12:00am
Australian dollar dips in Asia

Australian dollar dips in Asia

The Australian dollar dipped on Monday after China's central bank raised rates at the weekend, and some analysts say the chance of more tightening in China could prompt investors to sell the Aussie after the year-end holidays. The yen also hit a three-wee
Published 28 Dec, 2010 12:00am
Early trade in New York: Euro rises; China rate hike hits Aussie

Early trade in New York: Euro rises; China rate hike hits Aussie

The Australian dollar dipped briefly on Monday after the Chinese central bank's weekend interest rate hike, while the euro rose against the dollar after breaking above its 200-day moving average. Trading ranks were extremely thin. London was closed on Mon
Published 28 Dec, 2010 12:00am
Australian dollar steadies, euro up in London

Australian dollar steadies, euro up in London

The Australian dollar steadied on Monday, paring losses made after China's central bank raised rates at the weekend in a move seen largely priced in, while other major currency pairs held tight ranges in quiet trade. The euro inched higher against the dol
Published 28 Dec, 2010 12:00am
Swiss franc rises versus euro

Swiss franc rises versus euro

The Swiss franc rose against the euro on Monday, climbing back towards the previous week's record high and some strategists forecast further gains versus the common currency as eurozone debt woes lingered. Against the greenback, the franc gained a touch o
Published 28 Dec, 2010 12:00am
Taiwan dollar cuts gains

Taiwan dollar cuts gains

The Taiwan dollar gave up most of its early gains on Monday after the central bank tightened limits on trading in non-deliverable forwards (NDF), while other emerging Asian currencies consolidated in subdued year-end trading. Currency dealers told Reuters
Published 28 Dec, 2010 12:00am
Indian rupee slips

Indian rupee slips

The Indian rupee reversed early gains and slipped on Monday as dollar demand from oil firms and importers outweighed the positive sentiment due to weakness in the US unit versus major currencies overseas. The partially convertible rupee closed at 45.24/25
Published 28 Dec, 2010 12:00am
Mohsin Zafar top performer in Royal Palm Golf

Mohsin Zafar top performer in Royal Palm Golf

Mohsin Zafar emerged as the top performer in the Royal Palm Golf Tournament contested over 18 holes at the Royal Palm Golf Course. In the event, golfers of talent and distinction appeared in full strength in the stroke play competition. Against tough resi
Published 28 Dec, 2010 12:00am
South Africa-India Test: Bowlers dominate as 18 wickets fall

South Africa-India Test: Bowlers dominate as 18 wickets fall

The bowlers of South Africa and India took it in turns to cause carnage as 18 wickets fell for 245 runs on the second day of the second Test at Kingsmead on Monday. At the end of an extraordinary day, India, on 92 for four in their second innings, held an
Published 28 Dec, 2010 12:00am
Olympic documentary maker dies

Olympic documentary maker dies

Bud Greenspan, the documentary filmmaker who chronicled the Olympic Games in a style both soaring and poignant, has died in New York at the age of 84, his companion Nancy Beffa said. Beffa said Greenspan died on Saturday from complications of Parkinson's
Published 28 Dec, 2010 12:00am
Mobilink, Netsol win in CPL Raaziq T20

Mobilink, Netsol win in CPL Raaziq T20

Mobilink and Netsol earned victories in matches played in connection with 1st CPL Raaziq T-20 Tournament on Monday. In the first match, Mobilink beat Ufone by 29 runs. Mobilink scored 154 for 6 wickets in allotted 20 overs. Ijaz Rafiq 69, Saqib Munir 30 a
Published 28 Dec, 2010 12:00am
Sohail Tanvir to join Pakistan squad in New Zealand: second T20 today

Sohail Tanvir to join Pakistan squad in New Zealand: second T20 today

Pakistan Cricket Board (PCB) has decided to send all rounder Sohail Tanvir to join the Pakistan squad in New Zealand, it was announced on Monday. Tanvir had initially been selected for the national squads for T20 and Test matches against New Zealand for t
Published 28 Dec, 2010 12:00am
Journalists' death toll reach 105 in 2010

Journalists' death toll reach 105 in 2010

Some 105 journalists have been killed while doing their job this year, media watchdog Press Emblem Campaign said Monday, describing the killing of reporters as an "epidemic with no cure." Fewer fatalities have been reported this year compared to 2009 when
Published 28 Dec, 2010 12:00am
US Navy officer jumps to death after cocaine arrest

US Navy officer jumps to death after cocaine arrest

A 35-year-old US Navy officer jumped to his death on Monday in the Philippines after he was arrested at an airport for allegedly carrying cocaine, police said. Lieutenant Commander Scintar Mejia was about to board a flight to Los Angeles from Manila on Su
Published 28 Dec, 2010 12:00am
Strike call fails to hit main Ivory Coast city, ports

Strike call fails to hit main Ivory Coast city, ports

Many workers in Ivory Coast's main city Abidjan ignored a call by presidential claimant Alassane Ouattara for a strike on Monday to force Laurent Gbagbo out of power, saying they must work in order to eat. Operations at the ports of Abidjan and San Pedro,
Published 28 Dec, 2010 12:00am
Nine charged with plotting terrorism offences in UK

Nine charged with plotting terrorism offences in UK

Nine men arrested in police raids a week ago have been charged with conspiracy to cause explosions in Britain and with plotting terrorism offences, police said on Monday. The nine were among 12 men arrested on December 20 in what police said at the time w
Published 28 Dec, 2010 12:00am
Khodorkovsky found guilty

Khodorkovsky found guilty

Jailed Russian ex-tycoon Mikhail Khodorkovsky was found guilty of money laundering and theft of billions of dollars on Monday at a trial that has renewed doubts about the Kremlin's commitment to the rule of law. Khodorkovsky's lead defence lawyer told Reu
Published 28 Dec, 2010 12:00am
Five Chinese killed in Russia refinery blast

Five Chinese killed in Russia refinery blast

Five people, all believed to be Chinese, have been killed in an explosion at an oil refinery in Siberia, Russian news agencies said on Monday. The explosion took place overnight at a refinery in the village of Dauriya in the Zabaikalsky region of southern
Published 28 Dec, 2010 12:00am
21 dead, 25 injured in China road accidents

21 dead, 25 injured in China road accidents

At least 21 people were killed - including 14 schoolchildren - and 25 injured in two car accidents in China on Monday, one of which involved over 100 vehicles, state press reported. The 14 children died when the three-wheeled vehicle in which they were tr
Published 28 Dec, 2010 12:00am
European internet-link satellite launched from Baikonur

European internet-link satellite launched from Baikonur

A Russian Proton booster rocket took off late Sunday from the Baikonur space centre in Russia with a European satellite that is to provide high-speed internet links to over a million households in remote regions of Europe. The Ka-Sat satellite weighing 6.
Published 28 Dec, 2010 12:00am
Indonesian court jails seven men for terrorism

Indonesian court jails seven men for terrorism

An Indonesian court on Monday sentenced seven men involved in a terror cell known as "al Qaeda in Aceh" which plotted to kill Westerners to jail terms of up to eight years. The court heard that the group, which was believed to be training to carry out Mum
Published 28 Dec, 2010 12:00am
17 killed in Iraq suicide bombings

17 killed in Iraq suicide bombings

Twin suicide bombings rocked a government compound in Iraq's western city of Ramadi on Monday, killing as many as 17 people, a police source said. Details of the attack, the second on the compound this month, remained sketchy with different sources giving
Published 28 Dec, 2010 12:00am
Package bomb found at Greek embassy in Italy

Package bomb found at Greek embassy in Italy

A package bomb was found at the Greek Embassy in Rome on Monday, four days after similar mail bombs exploded at two other embassies injuring two people. The device was defused and no one was injured. Carabinieri Colonel Maurizio Mezzavilla said the bomb w
Published 28 Dec, 2010 12:00am
New York hard hit as winter storm slams northeast

New York hard hit as winter storm slams northeast

A blizzard pummelled the north-eastern United States on Monday, dumping up to 29 inches (74 cm) of snow, disrupting air, rail and bus travel and forcing motorists to deal with blowing snow and icy roads at the end of the busy Christmas weekend.
Published 28 Dec, 2010 12:00am
New York cotton futures settle easier

New York cotton futures settle easier

US cotton futures finished lower on Monday on light follow-through investor sales and news of an interest rate rise in top consumer China, analysts said. The market may see further choppy trade in the last trading week of 2010 as most large investors have
Published 28 Dec, 2010 12:00am
Paris wheat touches new high, drops in late trade

Paris wheat touches new high, drops in late trade

European benchmark wheat prices in Paris touched new contract highs early on Monday, on expectations poor crop weather in Argentina and Australia will bring tighter global grain supplies, but lost gains in late trade as US wheat futures fell. The Paris Ja
Published 28 Dec, 2010 12:00am
Malaysian palm oil hits 33-month high

Malaysian palm oil hits 33-month high

Malaysian crude palm oil futures hit 33-month highs on Monday as hopes of strong China demand and erratic weather helped shrug off Beijing's surprise interest rate hike. China soyaoil recovered some losses, after dropping earlier in the day, on expectatio
Published 28 Dec, 2010 12:00am
Tokyo rubber futures hit record high

Tokyo rubber futures hit record high

Key Tokyo rubber futures hit a record high on Monday to reverse earlier losses, helped by back of firm Shanghai rubber futures and strong demand at a time when supply is limited, dealers said. The key Tokyo Commodity Exchange rubber contract for June deli
Published 28 Dec, 2010 12:00am
Russia 11-month gold output falls 2.2 percent

Russia 11-month gold output falls 2.2 percent

Russian gold firms produced 2.2 percent less of the precious metal in the first 11 months of the year compared with the same period of 2009, the Gold Industrialists' Union said on Monday. Total output in the January through November period was 185.5 tonne
Published 28 Dec, 2010 12:00am
China's grain reserves nearly 200 million tonnes

China's grain reserves nearly 200 million tonnes

China's grain reserves total nearly 200 million tonnes, and supplies of wheat, rice and corn are sufficient, Premier Wen Jiabao said at the weekend. "We have the (ability) to stabilise prices," Wen said during a visit to China National Radio. Wen said sev
Published 28 Dec, 2010 12:00am
Saudi Maaden steps up exploration to boost gold

Saudi Maaden steps up exploration to boost gold

Saudi Arabian Mining Co (Maaden) will boost exploration in the vast Arabian Shield region and develop new mines in a bid to double gold resources to 20 million ounces by 2020, its chairman said. Abdallah Saif al-Saif said the state-run miner's existing mi
Published 28 Dec, 2010 12:00am
Oil dips after 26-month high, China rates weigh

Oil dips after 26-month high, China rates weigh

Oil dipped on Monday after briefly hitting its third successive 26-month high, ending a five-day rally after a Chinese rate increase threatened to slow demand and a major East Coast refinery resumed operations. As a major blizzard in the US Northeast furt
Published 28 Dec, 2010 12:00am
Shanghai metals pare rate-led losses, equity slide weighs

Shanghai metals pare rate-led losses, equity slide weighs

Shanghai base metals futures fell half a percent on a volume weighted average basis on Monday, but prices closed off their early lows struck following China's Christmas Day interest rate rise, underpinned by a positive fundamental outlook.
Published 28 Dec, 2010 12:00am
US MIDDAY: sugar, cocoa and coffee down

US MIDDAY: sugar, cocoa and coffee down

Soft commodity markets were marginally easier in slow, post-Christmas trade on Monday and business may stay slow because many players are away through the year-end holidays, analysts said. New York soft commodity markets were shut Friday for Christmas. Th
Published 28 Dec, 2010 12:00am
US MIDDAY: soya, corn climb

US MIDDAY: soya, corn climb

Soyabean futures on the Chicago Board of Trade rose to the highest spot price in 27-1/2 months on Monday on technical buying and concerns about hot and dry conditions forecast in Argentina, traders said. Corn climbed for an eighth day to another 29-month
Published 28 Dec, 2010 12:00am
US MIDDAY: gold recovers

US MIDDAY: gold recovers

Spot gold regained lost ground early on Monday, as bargain hunting trickled in after prices dropped about 1 percent in early trade in response to China's interest rate increase on Saturday. Spot gold slipped $2.85 an ounce to $1,381.40 by 11:46 am EST (16
Published 28 Dec, 2010 12:00am
US MIDDAY: copper at all-time high

US MIDDAY: copper at all-time high

US copper prices rose to an all-time high on Monday, quickly resuming this year's 28 percent rally after a brief dip following China's Christmas Day increase in interest rates. Most analyst say Beijing's quarter-point rate increase is unlikely to deter de
Published 28 Dec, 2010 12:00am
Millions of flood-hit children at risk of missing school year

Millions of flood-hit children at risk of missing school year

Millions of children in flood affected areas are at risk of missing a crucial school year due to inaccessibility to schools. Prior to the flood, almost one out of every two children were out of school. The floods have exacerbated this situation, this has
Published 28 Dec, 2010 12:00am
Police handled 786 events in single year: Kaleem Imam

Police handled 786 events in single year: Kaleem Imam

Successful handling of around 786 events in the year speaks volumes of the performance of Islamabad police, said Kaleem Imam, Inspector General of Police (IGP) Islamabad, here on Monday. He said Islamabad police performed their duties with zeal and succee
Published 28 Dec, 2010 12:00am
Violations of copyrights laws: DG IPO for separate courts to take action

Violations of copyrights laws: DG IPO for separate courts to take action

Director General (DG) Intellectual Property Organisation (IPO) Syed Khalid Bukhari has urged government to empower IPO for setting up separate courts to take action against infringement of copyrights in industry, which is causing a revenue loss of billion
Published 28 Dec, 2010 12:00am
Taliban kidnap 23 tribesmen

Taliban kidnap 23 tribesmen

The Taliban defied an ongoing military offensive and kidnapped 23 tribesmen who had met with the army chief during a recent trip to the area, intelligence officials, tribal elders and the militants' spokesman said. The kidnappings further threaten the gov
Published 28 Dec, 2010 12:00am
Seminar on importance of 3G technology today

Seminar on importance of 3G technology today

To sensitize stakeholders on importance of 3G technology, Pakistan Telecommunication Authority (PTA) is organising a seminar in collaboration with the ZTE Corporation (Zhongxing Telecom) on Tuesday (today). The seminar on "To be or not to be is not the qu
Published 28 Dec, 2010 12:00am
Transfers/postings of tax officials made in 'violation' of TARP

Transfers/postings of tax officials made in 'violation' of TARP

The transfers and postings of customs, sales tax and income tax officials were made without prior approval of the concerned Members of the Federal Board of Revenue (FBR), which is, tax experts say, seems to be violation of the Tax Administration Reform Pr
Published 28 Dec, 2010 12:00am
Cable services remain closed for six hours

Cable services remain closed for six hours

Cable Operators continued to suspend their cable services in southern Punjab for six hours at the call of All Pakistan Cable Operators Association (APCOA) and CLAP against the exorbitant increase in CD tariff and issuance of 300 new licenses by Pakistan E
Published 28 Dec, 2010 12:00am
IV

IV

M A Zuberi will long be remembered as an illustrious journalist who dedicated himself to the cause of Pakistan and also towards promotion of media's independence. His contribution towards enhancing "business journalism" will remain unparallel. Many member
Published 28 Dec, 2010 12:00am
III

III

While no comfort is adequate to replace his loss, I know that his family must take some consolation in the fact that Zuberi Saheb was a national institution, highly respected across the board for his contributions to journalism and economic discourse in P
Published 28 Dec, 2010 12:00am
II

II

M A Zuberi was truly noble and pious man, whose life was an example to all of us. Believe us, these are not merely and formal words but the expression of genuine sorrow.
Published 28 Dec, 2010 12:00am
M A Zuberi

M A Zuberi

M A Zuberi's contributions to Pakistan throughout his lifetime have been immense, and his legacy of financial and economic journalism lives on, in the Business Recorder, and in all those who were privileged to know and work with him. I cannot begin to ima
Published 28 Dec, 2010 12:00am
September 2010: Quarterly performance review of the banking system

September 2010: Quarterly performance review of the banking system

Recent unprecedented floods and torrential rains in the country to some extent intensified the effects of an already fragile macro environment as the non-performing loans (NPLs) of the banking system grew at a faster rate during July-September 2010 quarte
Published 28 Dec, 2010 12:00am
September 2010: Quarterly performance review of the banking system

September 2010: Quarterly performance review of the banking system

Recent unprecedented floods and torrential rains in the country to some extent intensified the effects of an already fragile macro environment as the non-performing loans (NPLs) of the banking system grew at a faster rate during July-September 2010 quarte
Published 28 Dec, 2010 12:00am
Strategic alliance turning into a joke

Strategic alliance turning into a joke

A court in Brooklyn, New York, has summoned the chief of Pakistan's Inter Services Intelligence (ISI) to answer questions about ISI's involvement in the tragedy at Bombay's Taj Hotel called ('26/11' in the 9/11 tradition). Reason: relatives of a Rabi and
Published 28 Dec, 2010 12:00am
Recognition of Palestine

Recognition of Palestine

Of late, a kind of panic has gripped the Israeli establishment as Ecuador joins the growing ranks of South American countries that have accorded recognition to the state of Palestine. Brazil, Argentina and Bolivia gave formal recognition earlier this mont
Published 28 Dec, 2010 12:00am
Monetary policy: tread this path cautiously

Monetary policy: tread this path cautiously

State Bank of Pakistan (SBP) finds itself in a catch 22 situation. In order to ensure monetary stability, it continues to increase its discount rate but inflationary pressures continue to surge, with the result that it is again forced to enhance its repo
Published 28 Dec, 2010 12:00am
Trading Corporation of Pakistan

Trading Corporation of Pakistan

Trading Corporation of Pakistan (TCP) was established in 1967 as a premier international trading house fully owned by the Government of Pakistan. The Corporation has gone through substantial change in its role from Barter to Commodity Exchange Arrangement
Published 28 Dec, 2010 12:00am
'PML-N to resolve issues of growers on priority'

'PML-N to resolve issues of growers on priority'

Senior Advisor to Chief Minister Punjab, Sardar Zulfiqar Ali Khan Khosa has said the grower's problems would be resolved on priority basis so that targets of wheat and other agri-products could be achieved as the agriculture is backbone of our national ec
Published 28 Dec, 2010 12:00am
Amtex's Sukuk rating reaffirmed

Amtex's Sukuk rating reaffirmed

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long-term rating of A (single A) assigned to the five year privately placed Sukuk of Rs 650 million, issued by Amtex Limited (Amtex). The Sukuk is fully secured via a bank guaran
Published 28 Dec, 2010 12:00am
Amtex's Sukuk rating reaffirmed

Amtex's Sukuk rating reaffirmed

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long-term rating of A (single A) assigned to the five year privately placed Sukuk of Rs 650 million, issued by Amtex Limited (Amtex). The Sukuk is fully secured via a bank guaran
Published 28 Dec, 2010 12:00am
Pakistan expects $3.9 billion from donor states, financial bodies

Pakistan expects $3.9 billion from donor states, financial bodies

Pakistan is expecting to receive 3.9 billion dollars assistance from donor countries and financial institutions between November-June 2010-11. Government has revised budgetary foreign assistance disbursement estimates downwards - from 4443.7 billion dolla
Published 28 Dec, 2010 12:00am
Gas loadshedding: Aptma fears large-scale closures, lay-offs

Gas loadshedding: Aptma fears large-scale closures, lay-offs

The All Pakistan Textile Mills Association (Aptma) has said that it fears large-scale closures/bankruptcies and massive layoffs in the textile industry due to gas load shedding, the fuel used in captive power plants (CPPs), it is learnt. Sources in the te
Published 28 Dec, 2010 12:00am
Dr Baig to attend sixth session of Pak-Yemen JMC

Dr Baig to attend sixth session of Pak-Yemen JMC

Dr Mirza Ikhtiar Baig, Federal Advisor on Textile, Government of Pakistan and Hon. Consul General of Yemen in Sindh will be a part of the delegation visiting Yemen to attend Sixth Session of the Pak-Yemen Joint Ministerial Commission (JMC) 28th - 29th Dec
Published 28 Dec, 2010 12:00am
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