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Print - 2011-01-08
Nikkei ekes out new eight-month high

Nikkei ekes out new eight-month high

Japan's Nikkei average edged up to a fresh eight-month closing peak on Friday as investors stayed cautious ahead of key US jobs data, while a drop in commodity prices was offset by a strong performance by Chinese equities. The Nikkei was trapped in a tigh
Published 08 Jan, 2011 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan stocks fell 1.1 percent to a near three-week low on Friday, driven down by a big drop in financial shares on fears of potential foreign exchange losses among insurers. Fund managers saw the correction coming to a halt after next week, with electron
Published 08 Jan, 2011 12:00am
European stocks slightly down

European stocks slightly down

European stocks fell slightly on Friday as worries about the eurozone intensified ahead of debt auctions next week, and US data showed far fewer jobs were created in December than forecast. The FTSEurofirst 300 index of top European shares fell 0.25 perce
Published 08 Jan, 2011 12:00am
UK's top share index dips

UK's top share index dips

Britain's top share index closed lower on Friday, led down by banks and miners, with investor sentiment dampened by disappointing US employment data. The FTSE 100 index ended down 35.18 points, or 0.6 percent, at 5,984.33, though it notched a 1.4 percent
Published 08 Jan, 2011 12:00am
Euro interbank rates subdued

Euro interbank rates subdued

Key euro-priced interbank lending costs eased on Friday, pressured by a high level of excess cash in money markets while US rate futures traders pared back bets on a Federal Reserve rate hike after a weak jobs report. Analysts said while a European Union
Published 08 Jan, 2011 12:00am
Yuan down

Yuan down

The yuan finished down against the dollar on Friday after the People's Bank of China set a weaker mid-point, in the wake of a jump in the US dollar index in global markets. But the mere 19-pip fall in the PBOC's mid-point, or the level from which the yuan
Published 08 Jan, 2011 12:00am
Euro falls in Asia

Euro falls in Asia

The euro dropped to a four-month low versus a broadly firmer dollar on Friday ahead of US jobs data, which is expected to provide more evidence of a stronger US economic recovery. A sell-off in peripheral eurozone government bonds before a flurry of suppl
Published 08 Jan, 2011 12:00am
Dollar rises broadly in London

Dollar rises broadly in London

The dollar rose to a four-month high versus the euro and a one-month high against a basket of currencies on Friday ahead of US jobs data, although dollar bulls risked disappointment if it falls short of expectations.
Published 08 Jan, 2011 12:00am
Euro slumps in midday trade

Euro slumps in midday trade

The euro fell to a near four-month low against the dollar on Friday, hit by uncertainty about the use of eurozone bonds of peripheral countries as collateral for bank loans and as US employment data supported a stronger outlook for the dollar than the eur
Published 08 Jan, 2011 12:00am
Euro slides to five-week low versus dollar

Euro slides to five-week low versus dollar

The euro slumped on Thursday to its lowest level against the US dollar in five weeks and briefly breached a key support level, but more losses are seen likely if upcoming key jobs data proves stronger than expected. The euro's losses were magnified by exp
Published 08 Jan, 2011 12:00am
Swiss franc up

Swiss franc up

The Swiss franc tracked the dollar higher against the euro on Friday ahead of US jobs data, which is expected to show a strengthening US economic recovery even as debt concerns continue to trouble eurozone investors. The franc was 0.1 percent firmer again
Published 08 Jan, 2011 12:00am
Australian and New Zealand dollar struggle

Australian and New Zealand dollar struggle

The Australian and New Zealand currencies lost ground against a broadly firmer greenback on Friday, but advanced on the euro as worries about the euro zone's high levels of debt returned to haunt the single currency. The Aussie fell as low as $0.9919, rea
Published 08 Jan, 2011 12:00am
Indian rupee off three-week lows

Indian rupee off three-week lows

The Indian rupee retraced from three-week lows but ended weak on Friday as oil importers' dollar demand, losses in local shares and global dollar strength outweighed support from dollar inflows towards debt. The partially convertible rupee ended at 45.38/
Published 08 Jan, 2011 12:00am
Asian trade: Taiwan dollar up, peso falls

Asian trade: Taiwan dollar up, peso falls

The Philippine peso and the Indian rupee fell against the dollar on Friday, leading Asian currencies lower, as caution ahead of key US job data spurred dollar short covering. Investors are keeping an eye on December US non-farm payrolls later in the day,
Published 08 Jan, 2011 12:00am
Sterling extends gains versus euro

Sterling extends gains versus euro

Sterling extended gains against the euro on Friday, helped by fund selling of the single currency due to a renewed rise in concern over eurozone sovereign debt risks. It also recovered ground against the dollar after US non-farm payrolls disappointed on b
Published 08 Jan, 2011 12:00am
Berdych enters Chennai semis

Berdych enters Chennai semis

Tomas Berdych of the Czech Republic stayed on course for a title at the start of the new season when he eased into the semi-finals of the $450,000 ATP Chennai Open on Friday. The world number six brushed aside the 112nd-ranked Blaz Kavcic of Slovakia 6-3,
Published 08 Jan, 2011 12:00am
Jayasuriya, Vaas dropped for World Cup

Jayasuriya, Vaas dropped for World Cup

Sri Lanka on Friday dropped veteran batsman Sanath Jayasuriya and bowler Chaminda Vaas from its 15-man squad for the World Cup that runs from February to April. Jayasuriya, a parliamentarian, and Vaas were part of the team that won the country's sole Worl
Published 08 Jan, 2011 12:00am
Doha hotels 'packed out' for Asian Cup

Doha hotels 'packed out' for Asian Cup

Most hotels in Doha are packed full with the Asian Cup set to kick-off in front of what organisers hope will be bumper crowds - and prove to the doubters they have what it takes to host the World Cup. "We have only a few rooms left," The Peninsula newspap
Published 08 Jan, 2011 12:00am
Blatter 'expects' Qatar World Cup in winter

Blatter 'expects' Qatar World Cup in winter

The prospect of the 2022 Qatar World Cup being held in the winter moved a step closer Friday when FIFA president Sepp Blatter said for the first time that this is what he expects will happen. Qatar was controversially awarded the right to host the tournam
Published 08 Jan, 2011 12:00am
Clarke retires from T20 Internationals

Clarke retires from T20 Internationals

Michael Clarke announced his retirement from international Twenty20 cricket in the fallout from Australia's Ashes humiliation against England on Friday. Clarke, standing in for injured skipper Ricky Ponting, presided over an Australian team thrashed by an
Published 08 Jan, 2011 12:00am
British Prime Minister hails 'fantastic' Ashes win

British Prime Minister hails 'fantastic' Ashes win

British Prime Minister David Cameron on Friday hailed England's first Ashes series triumph in Australia for 24 years as a "fantastic achievement". The prime minister, who has admitted to following the Ashes series closely, said: "I've spoken to Andrew Str
Published 08 Jan, 2011 12:00am
England celebrate 'special' Ashes win

England celebrate 'special' Ashes win

England celebrated an emphatic Ashes triumph in Australia on Friday, their first Down Under in 24 years, after inflicting a record third innings drubbing in the final Test. England wrapped up an innings and 83-run victory early on the last day in Sydney f
Published 08 Jan, 2011 12:00am
Venus crashes to earth in Hong Kong

Venus crashes to earth in Hong Kong

Injury-stricken Venus Williams crashed to a second defeat in as many days in Hong Kong Friday as her preparation for the Australian Open was overshadowed by questions over her fitness. The seven-time Grand Slam winner was seen clutching her stomach as she
Published 08 Jan, 2011 12:00am
Nadal crashes out of Qatar Open

Nadal crashes out of Qatar Open

Weary-looking world number one Rafael Nadal was knocked out of the Qatar Open on Friday losing 6-3, 6-2 to defending champion Nikolay Davydenko, who will tackle Roger Federer in Saturday's final. Federer, a former double champion here, made the final by e
Published 08 Jan, 2011 12:00am
Pakistan make New Zealand pay for poor shots

Pakistan make New Zealand pay for poor shots

Poor shot selection saw New Zealand squander a steady start to the first Test against Pakistan and they were battling for respectability at the close of the opening day here Friday. At stumps New Zealand were 260 for seven, their innings built around only
Published 08 Jan, 2011 12:00am
Groth 'sorry' after cameras catch marital spat

Groth 'sorry' after cameras catch marital spat

Australian tennis player Jarmila Groth issued an apology on Friday after microphones picked up a foul-mouthed rant at husband and stand-in coach Sam during her Brisbane International quarter-final. Jarmila twice called for husband Sam to come on court dur
Published 08 Jan, 2011 12:00am
Danish Kaneria to take legal course

Danish Kaneria to take legal course

The out-of-favour leg spinner Danish Kaneria has finally decided to ask the Pakistan Cricket Board (PCB) on his exclusion from the Test squad. In a statement issued here, the leg spinner has already acquired the services of a barrister, Stephen Hourigan,
Published 08 Jan, 2011 12:00am
Israeli troops kill wrong man in Hamas raid

Israeli troops kill wrong man in Hamas raid

Israeli soldiers killed a 65-year-old Palestinian in his bedroom on Friday during a pre-dawn raid to seize a Hamas suspect who lived in the same building, in what the army admitted was a mistake. The man was shot as troops swooped on houses in the occupie
Published 08 Jan, 2011 12:00am
Israel sees no Iranian atom bomb before 2015

Israel sees no Iranian atom bomb before 2015

Israel believes Iran will not be able to produce a nuclear bomb before 2015 and a top Israeli official has counselled against pre-emptive military strikes, intelligence assessments published on Friday showed. Given in a briefing by Mossad director Meir Da
Published 08 Jan, 2011 12:00am
Australia floods causing long-term damage

Australia floods causing long-term damage

Australia's flood-stricken coal industry may be disrupted for months after key rail and road links were washed away, while some infrastructure could take years to repair, authorities said on Friday. The floods have swamped mines in Queensland state, paral
Published 08 Jan, 2011 12:00am
Indonesia announces dates for Asean summits

Indonesia announces dates for Asean summits

Indonesia's foreign minister said Friday his country will host two summits of the Association of Southeast Asian Nations (Asean) during its chairmanship of the 10-nation bloc this year. Asean'S 18th and 19th summits will be held in the capital, Jakarta, o
Published 08 Jan, 2011 12:00am
Vietnam War 'secret army' chief dies

Vietnam War 'secret army' chief dies

Former Laotian general Vang Pao, who once commanded a CIA-backed "secret army" of Hmong guerrillas during the Vietnam War, died Thursday in a Californian hospital. He was 81. "He died today... the family was there," said a spokeswoman for the Clovis Commu
Published 08 Jan, 2011 12:00am
North Korea and US troops lower alert status

North Korea and US troops lower alert status

North Korea has lowered its military alert status, prompting similar moves by Seoul and US forces as tensions on the Korean peninsula showed signs of easing, a report said Friday. The apparent moves came as South Korea held its latest war games to simulat
Published 08 Jan, 2011 12:00am
Sri Lanka, India to relaunch ferry service

Sri Lanka, India to relaunch ferry service

India and Sri Lanka on Friday signed an agreement to restart sea ferry services shut down for nearly 30 years, the latest sign of resurgent economic ties since the end of Sri Lanka's quarter-century civil war. The two nations gave no immediate timeframe,
Published 08 Jan, 2011 12:00am
US cannot accept Chinese military power

US cannot accept Chinese military power

China will eventually have a military powerful enough to compete with the United States, state media said Friday ahead of the visit of US Defence Secretary Robert Gates. The claim in a newspaper editorial followed reports that China had completed a protot
Published 08 Jan, 2011 12:00am
Dutch government agrees Afghanistan training mission

Dutch government agrees Afghanistan training mission

The Dutch cabinet agreed Friday to send a 545-member police training mission to Afghanistan, 11 months after the last government fell over military deployment there, an official statement said. "The cabinet has decided to send a mission to Afghanistan to
Published 08 Jan, 2011 12:00am
Afghans protest Iran fuel truck ban

Afghans protest Iran fuel truck ban

Hundreds of Afghans are demonstrating outside the Iranian Embassy in Kabul to protest Iran's blocking of thousands of fuel trucks at the border with Afghanistan, a move that has sent domestic fuel prices soaring as winter sets in. The unofficial ban on fu
Published 08 Jan, 2011 12:00am
Nato to deploy radar planes to Afghanistan

Nato to deploy radar planes to Afghanistan

Nato decided Friday to deploy AWACS radar aircraft to Afghanistan to monitor the growing traffic of aerial missions against Taliban insurgents, the Western military alliance said. Allies reached an agreement for the "AWACS to begin their operations in Afg
Published 08 Jan, 2011 12:00am
UK warns aviation of possible al Qaeda attack

UK warns aviation of possible al Qaeda attack

The British government has warned the aviation industry of a possible al Qaeda attack, security sources and the BBC said on Friday. The BBC said it had obtained a letter from the Department of Transport addressed to the air transport sector, which explain
Published 08 Jan, 2011 12:00am
Sri Lanka deploys army against pricey vegetables

Sri Lanka deploys army against pricey vegetables

Sri Lanka's army opened a chain of food stores on Friday that will sell produce at low prices and be manned by troops formerly deployed in the island nation's civil war. Fifteen unnamed shops opened will offer low-priced produce bought directly from provi
Published 08 Jan, 2011 12:00am
Pentagon plans to rein in spending

Pentagon plans to rein in spending

For the first time in more than a decade defined by costly wars in Afghanistan and Iraq, the Pentagon announced plans Thursday to freeze its ballooning budget, forcing the services to shrink the Army and Marines and increase health care premiums for milit
Published 08 Jan, 2011 12:00am
EU rejects Iran's offer of atomic site tour

EU rejects Iran's offer of atomic site tour

The European Union has turned down an offer from Iran to tour its nuclear facilities, EU foreign affairs chief Catherine Ashton said on Friday, but remains optimistic about talks with Tehran later this month. Iran has sent letters to a number of ambassado
Published 08 Jan, 2011 12:00am
New York cotton ends down three percent in choppy trade

New York cotton ends down three percent in choppy trade

US cotton ended down about 3 percent on Thursday, after rising by almost the daily limit on speculative buying before falling as much on selling related to a rebalancing of cotton holdings by commodity indexes. "It was an interesting day in cotton where w
Published 08 Jan, 2011 12:00am
US copper tumbles

US copper tumbles

Copper ended lower on Thursday as New York values lost about 2 percent, with a sharp drop in the euro dragging most commodity markets down even as US economic optimism mounted. The industrial metal has back-pedalled this week from records at $9,754 per to
Published 08 Jan, 2011 12:00am
Shanghai metals slide

Shanghai metals slide

Copper futures extended losses in London on Friday, while Shanghai dropped 3 percent on talk that China may be preparing to tighten monetary policy shortly. Shanghai copper fell by 2,110 yuan to 69,500 yuan, while zinc dropped as much as 5 percent before
Published 08 Jan, 2011 12:00am
Copper eases

Copper eases

Copper eased but still recovered from two-week lows on Friday, supported by a weaker dollar and expectations of stronger demand this year from top consumer China and other industrial markets. Benchmark copper on the London Metal Exchange closed at $9,425
Published 08 Jan, 2011 12:00am
Tokyo rubber dips

Tokyo rubber dips

Tokyo rubber futures hit another record high on Friday but then ended the day lower as investors liquidated contracts to take profits ahead of the weekend, but thin physical supply still provided solid support, dealers said. The benchmark rubber contract
Published 08 Jan, 2011 12:00am
New York sugar plunges

New York sugar plunges

Sugar futures careened lower on Thursday, continuing to move in highly volatile dealings, taking their cue from crude oil whilst under pressure from the strong US dollar. Arabica coffee futures finished steady and less than 10 cents away from the recent 1
Published 08 Jan, 2011 12:00am
Malaysian palm oil hits one-week lows

Malaysian palm oil hits one-week lows

Malaysia's crude palm oil futures hit one-week lows on Friday as traders squared profits amid losses in the overseas soya complex, although worries over a supply shortage continued to weigh. Palm oil rallied to 33-month highs earlier in the week as heavie
Published 08 Jan, 2011 12:00am
US soyabeans dips

US soyabeans dips

Soyabean futures on the Chicago Board of Trade closed lower on Thursday, with the most-active March contract down 1.11 percent, pressed by a stronger US dollar and weaker-than-expected export data, traders said. The dollar gained ground on upbeat expectat
Published 08 Jan, 2011 12:00am
Liffe sugar higher

Liffe sugar higher

Liffe March white sugar ended $16.90 higher at $765.10 per tonne on Friday. Market buoyed by trade and fund buying fuelled by possible delays to Indian exports. Liffe May cocoa ended 3 pounds higher at 1,936 pounds a tonne. Market consolidating after slid
Published 08 Jan, 2011 12:00am
Oil falls below $88

Oil falls below $88

US crude oil prices reversed from early gains and fell on Friday in volatile trading, dropping below $88 a barrel as the dollar gained strength against the euro and Wall Street equities fell. Markets were buffeted as investors digested a government report
Published 08 Jan, 2011 12:00am
US gold ends lower

US gold ends lower

US gold futures ended down $2 on Thursday as the dollar rose on signs of an improving US economic outlook, but technical buying lifted prices off lows. Benchmark COMEX February gold futures settled down $2 at $1,371.70 an ounce on the COMEX division of th
Published 08 Jan, 2011 12:00am
Gold falls in Asia

Gold falls in Asia

Spot gold fell for a fifth straight day on Friday, pressured by dollar strength, as investors wait for a key US employment report later in the day for clues on the health of the world's largest economy. Spot gold edged down 0.4 percent at $1,365.80 an oun
Published 08 Jan, 2011 12:00am
Gold turns higher in Europe

Gold turns higher in Europe

Gold swung into positive territory, recovering from the six-week low it hit earlier on Friday, after a key US payrolls report missed expectations, sparking a retreat in the dollar. Spot gold was bid at $1,376.55 an ounce at 1605 GMT against $1,371.15 late
Published 08 Jan, 2011 12:00am
US MIDDAY: sugar surges

US MIDDAY: sugar surges

Raw sugar futures on ICE rose sharply on Friday on trade and fund buying but remained well short of last week's 30-year peak in volatile trading. Prices had eased early in the session but suddenly surged in a trade-led rally. March raw sugar rebounded fro
Published 08 Jan, 2011 12:00am
US MIDDAY: grain futures slump

US MIDDAY: grain futures slump

Grain futures on the Chicago Board of Trade slumped early Friday in choppy action as players adjusted positions ahead of index-fund portfolio rebalancing, traders said. Some technically based buying was noted after the front-month March corn contract brie
Published 08 Jan, 2011 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

Copper ended down for a fourth consecutive session on Friday after disappointing jobs data in the United States tempered some of the economic recovery optimism behind the metal's early-year rally to record highs. Prices of the industrial metal pulled furt
Published 08 Jan, 2011 12:00am
US MIDDAY: gold dips

US MIDDAY: gold dips

Gold dipped on Friday, set for its biggest weekly decline since May after disappointing US jobs data failed to revive safe-haven demand. Bullion declined for a fifth day, its longest losing streak in seven months, although it closed up from a six-week low
Published 08 Jan, 2011 12:00am
DPS holds dental health awareness programme

DPS holds dental health awareness programme

Inline with its policy for better child development, Dawood Public School (DPS) organised a three-day dental health awareness programme for the students of primary section at its premises. More than 800 girl students were educated about the dental health
Published 08 Jan, 2011 12:00am
'Consistent policy a must for development of auto sector'

'Consistent policy a must for development of auto sector'

Consistent long-term policy is must for development in auto sector to ensure further investment towards expansion of existing OEMs and attract new entrants in order to generate employment opportunities, billions of rupees of investment ventures and substa
Published 08 Jan, 2011 12:00am
'Nurses play vital role in recovery of patients'

'Nurses play vital role in recovery of patients'

Punjab Parliamen-tary Secretary Health Dr Saeed Ellahi has on Friday said that nurses play vital role in looking after and recovery of patients, and the Punjab government is resolving their problems on priority basis. He also said for the first time, the
Published 08 Jan, 2011 12:00am
ANP never asked Prime Minister to dissolve cabinet: Zahid

ANP never asked Prime Minister to dissolve cabinet: Zahid

Secretary Information Awami National Party (ANP) Senator Zahid Khan has contradicted a news report that ANP has advised Prime Minister Syed Yousuf Raza Gilani to dissolve the federal cabinet. Talking to reporters outside Parliament House here on Friday, h
Published 08 Jan, 2011 12:00am
Traders voice concern over political turmoil

Traders voice concern over political turmoil

Traders here has expressed grave concern over the increasing political 'instability' in the country, saying that it has created chaos and confusion among the traders as well as masses. They said this during a meeting here on Friday, which was attended by
Published 08 Jan, 2011 12:00am
Pakistan conveys reservations to US over drone attacks

Pakistan conveys reservations to US over drone attacks

Pakistan on Friday conveyed its reservations over drone attacks in Federally Administrated Tribal Areas (FATA) to the visiting US Acting Special Representative for Afghanistan and Pakistan on his maiden visit to the region, saying the strikes are counterp
Published 08 Jan, 2011 12:00am
SECP takes action against illegal commodity exchange

SECP takes action against illegal commodity exchange

In order to safeguard the interest of common investors, the Securities and Exchange Commission of Pakistan (SECP) has taken cognisance of unregistered commodity futures trading. The SECP has issued an order against Ravi Oil Cake Traders, a partnership fir
Published 08 Jan, 2011 12:00am
SECP imposes penalty on defaulting insurance companies

SECP imposes penalty on defaulting insurance companies

As part of its enforcement and regulatory function, the Insurance Division of the Securities and Exchange Commission of Pakistan (SECP) passed 3 orders, fining defaulting insurance companies in December, mainly on the grounds of non-compliance with the st
Published 08 Jan, 2011 12:00am
NAB arrests 2 bank defaulters

NAB arrests 2 bank defaulters

The National Accountability Bureau (NAB), Sindh, on Friday arrested two directors of ARK Garments Industries (Pvt) Ltd on allegation of wilful default of Rs 174 million. According to NAB (Sindh), Anwar Ahmed Rajwani and Salman Karim Rajwani were engaged i
Published 08 Jan, 2011 12:00am
JUI-F will not rejoin coalition govt: Haidri

JUI-F will not rejoin coalition govt: Haidri

Secretary General, Jamiat-Ulema-e-Islam Fazal (JUI-F) Maulana Abdul Ghafoor Haidri has said his party will keep on supporting the federal government on issues of national interest but will not rejoin the coalition government.
Published 08 Jan, 2011 12:00am
PGJDC organises 'Gem Bazaar Islamabad'

PGJDC organises 'Gem Bazaar Islamabad'

The Pakistan Gems and Jewellery Develop-ment Company (PGJDC) organised Islamabad's first-ever 'Gem Bazaar Islamabad' (Pakistani Gems, Jewellery and Mineral Exhibition) to showcase high quality gemstone, studded jewellery and mineral specimen.
Published 08 Jan, 2011 12:00am
CNG bus project in the doldrums

CNG bus project in the doldrums

Due to financial crunch and official apathy, the Shaheed Benazir Bhutto CNG Bus project is in doldrums, it is learnt reliably. The project was scheduled to be launched before October 2010, however due to issues in bank financing and official apathy, the p
Published 08 Jan, 2011 12:00am
Fourth Power Generation Moot & Expo on January 11

Fourth Power Generation Moot & Expo on January 11

The 4th International Power Generation conference & exhibition POWERGEN PAK 2011 will be held on January 11, with a theme "Power Efficiency & Pricing Challenges" at a local hotel at Karachi. Naeem Qureshi, Chairman Organising Committee of Power Gen Pak sa
Published 08 Jan, 2011 12:00am
30 swine flu cases registered in Sindh

30 swine flu cases registered in Sindh

Around 30 swine flu cases have been registered in Sindh, mainly in Karachi, during the first week of new year. The mysteriously spreading influenza virus of swine flue (H1N1) has taken lives of two persons and affected 30 other people in the province.
Published 08 Jan, 2011 12:00am
Energy tariff calculation system of KESC criticised

Energy tariff calculation system of KESC criticised

The industry, investment and privatisation subcommittee of Karachi Chamber of Commerce and Industry (KCCI) has suggested that the government should take some concrete steps to omit Karachi Elector Supply Company (KESC) hidden calculations in energy tariff
Published 08 Jan, 2011 12:00am
Call to extend date for e-filing of corporate returns

Call to extend date for e-filing of corporate returns

President, Karachi Chamber of Commerce and Industry (KCCI), Muhammad Saeed Shafiq, Talat Mahmood, Senior Vice President, Junaid Esmail Makda, Vice President and Anis Majeed, Chairman sub-committee of Taxation in a press statement urged that the date of e-
Published 08 Jan, 2011 12:00am
Bid to smuggle heroin foiled; one held

Bid to smuggle heroin foiled; one held

The Drug Enforcement Cell (DEC) of Pakistan Customs on Friday foiled a bid to smuggle about 2-kg of white heroin to Bangladesh and Cyprus and arrested the drug trafficker. The DEC staff intercepted a passenger Muhammad Haider at international departure ha
Published 08 Jan, 2011 12:00am
Defence capability: Pakistan Navy not to disappoint people, says CNS

Defence capability: Pakistan Navy not to disappoint people, says CNS

The Chief of Naval Staff (CNS) Admiral Noman Bashir has maintained that the nation would not disappointed over the defence capability of Pakistan Navy which is the basic function besides rescue, relief and rehabilitation of disaster victims. He said this
Published 08 Jan, 2011 12:00am
Death warrant of Airline signed: Palpa

Death warrant of Airline signed: Palpa

The Pakistan Airline Pilots' Association (Palpa) has termed the latest MoU between PIA and Turkish Airlines to terminate the national airline operations in Istanbul a death warrant for the national carrier, as the management's recent secret step will even
Published 08 Jan, 2011 12:00am
IT role discussed on 'Oracle Applications Day'

IT role discussed on 'Oracle Applications Day'

Customers and partners from leading Pakistani organisations along with senior Oracle executives gathered at 'Oracle Applications Day' to discuss the critical role that IT, especially business applications, is playing in helping to build the businesses of
Published 08 Jan, 2011 12:00am
Billing cycle of North Karachi changed

Billing cycle of North Karachi changed

This is with reference to the news item 'KESC blamed for overcharging consumers'. In this regard the Karachi Electric Supply would like to state that the company has merged three BOCs of North Karachi into one Virtual Integrated Business Centre. In that p
Published 08 Jan, 2011 12:00am
NPLs and profitability

NPLs and profitability

Writing under the title "NPLs and profitability" in your issue of 05 January, 2011, Dr Shahid Hasan Siddiqui has so wonderfully summarised crux of the issue with the words: "...... neither the nationalisation of banks was the root cause of all evils in th
Published 08 Jan, 2011 12:00am
Malta's tourism sector on record-setting pace

Malta's tourism sector on record-setting pace

It is a day early in December and a public holiday in Malta, and traditionally one of the busiest Christmas shopping days. But shopping is the last thing on the minds of hundreds of tourists, who strip down to their swimming trunks to bask in the glorious
Published 08 Jan, 2011 12:00am
The debit legacy

The debit legacy

Pakistan's budget hardly affects 10% of the population yet the entire population suffers. Why do we make life difficult for the country and the population? Where the legacy carries on is in the way, the economy expenditure is conducted. Examine all govern
Published 08 Jan, 2011 12:00am
Education city in Balochistan

Education city in Balochistan

The relative economic backwardness of Balochistan can be blamed on a variety of causes, but the one that stands out as the most crucial has been its generally underfinanced and poorly-managed educational system. Of course the rich and the powerful send th
Published 08 Jan, 2011 12:00am
Peace for Afghanistan

Peace for Afghanistan

Now that Pakistan has been formally requested by the visiting Afghanistan's High Council for Peace, to broker peace talks between the Karzai government and the Taliban, the joint Pakistan-Turkey initiative seems to be making progress. No doubt the Council
Published 08 Jan, 2011 12:00am
Allama Iqbal airport faces major power shutdown

Allama Iqbal airport faces major power shutdown

The Allama Iqbal International Airport on Friday experienced a major power shutdown for over 20 minutes due to some technical fault in the backup power system. According to the sources in the Civil Aviation Authority (CAA), everyday because of electricity
Published 08 Jan, 2011 12:00am
Taxi stand contract: LHC dismisses petition seeking renewal

Taxi stand contract: LHC dismisses petition seeking renewal

The Lahore High Court (LHC) here on Friday dismissing a petition seeking renewal of taxi stand contract at Railway Station observed that such contract could only be granted through auction. The petitioner Riaz Cheema submitted that he was awarded a one-ye
Published 08 Jan, 2011 12:00am
Pepco cuts gap between supply and demand

Pepco cuts gap between supply and demand

Pakistan Electric Power Company (Pepco) reduced gap between power generation and demand from 4,000 MW to 2,880 MW on Friday. Earlier, a spokesman of (Pepco) had stated that owing to intense fog there had been a further reduction in power generation of aro
Published 08 Jan, 2011 12:00am
Warid GLOW organises Atif concert for LUMS

Warid GLOW organises Atif concert for LUMS

With a sonorous yet soulful style of singing, Atif (Warid's Brand Ambassador) rocked Lahore University of Management Sciences (LUMS) with his thrilling performance. Over 1,500 LUMS students/alumni attended the concert and danced the night away. Attendees
Published 08 Jan, 2011 12:00am
UAF holds international moot on migration and desertification

UAF holds international moot on migration and desertification

Speakers at an international seminar said that Pakistan needs to invest on education, health and human resource development heavily in order to improve the pace of rural development by involving 65% population to mitigate the magnitude of internal migrati
Published 08 Jan, 2011 12:00am
Fruit markets being shifted out of cities: Minister

Fruit markets being shifted out of cities: Minister

Punjab Zakat and Ushr Minister Malik Nadeem Kamran has said that fruit and vegetable and grain markets are being shifted gradually outside the cities throughout the province so that the traffic flow could be improved and pollution free atmosphere could be
Published 08 Jan, 2011 12:00am
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