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Print - 2011-01-26
First EFSF bond issue draws heavy market interest

First EFSF bond issue draws heavy market interest

The European Financial Stability Facility, the 440 billion euro ($600 billion) fund being used to bail out Ireland, launched its debut bond issue on Tuesday with demand dwarfing the 5 billion euros on offer. The EFSF, set up in May last year to help any e
Published 26 Jan, 2011 12:00am
First EFSF bond issue draws heavy market interest

First EFSF bond issue draws heavy market interest

The European Financial Stability Facility, the 440 billion euro ($600 billion) fund being used to bail out Ireland, launched its debut bond issue on Tuesday with demand dwarfing the 5 billion euros on offer. The EFSF, set up in May last year to help any e
Published 26 Jan, 2011 12:00am
Goldman profit slides

Goldman profit slides

Goldman Sachs Group Inc posted a 53 percent decline in fourth-quarter profit as trading revenue tumbled, dashing hopes that the Wall Street bank had bucked a tough trading climate in debt markets. Bond trading revenue, including commodities and currencies
Published 26 Jan, 2011 12:00am
Goldman profit slides

Goldman profit slides

Goldman Sachs Group Inc posted a 53 percent decline in fourth-quarter profit as trading revenue tumbled, dashing hopes that the Wall Street bank had bucked a tough trading climate in debt markets. Bond trading revenue, including commodities and currencies
Published 26 Jan, 2011 12:00am
US consumer morale rises, home prices sag

US consumer morale rises, home prices sag

US consumer confidence improved more than expected in January to its highest level in eight months, underscoring the brightening economic outlook, even though the housing market remains on shaky ground. The Conference Board said on Tuesday its index of co
Published 26 Jan, 2011 12:00am
Iraq tightens controls on imports; imposes tariffs

Iraq tightens controls on imports; imposes tariffs

Iraq is tightening controls on imports and slapping tariffs on thousands of goods to stem what officials say was a free flow of low quality products across the country's borders and to help local industry compete. A new import licensing scheme, covering a
Published 26 Jan, 2011 12:00am
India raises interest rates

India raises interest rates

India's central bank raised interest rates on Tuesday by a quarter of a percentage point to clamp down on resurgent inflation and warned of persistently higher food prices unless steps are taken to boost supplies. Although the Reserve Bank of India (RBI)
Published 26 Jan, 2011 12:00am
Recovery builds but EU, inflation pose risks: IMF

Recovery builds but EU, inflation pose risks: IMF

Europe needs to strengthen its financial rescue fund to reduce the risk of renewed global instability as US tax cuts and buoyant emerging economies help propel the recovery elsewhere, the IMF said on Tuesday.
Published 26 Jan, 2011 12:00am
France signs contested Russia warship deal

France signs contested Russia warship deal

France on Tuesday inked a lucrative agreement to sell four Mistral warships to Moscow, with two to be built in Russia, in a move bitterly opposed by ex-Soviet states in the Baltics.
Published 26 Jan, 2011 12:00am
SEC adopts shareholder say-on-pay rules

SEC adopts shareholder say-on-pay rules

Sharehold-ers of publicly listed companies will get to weigh in on executive compensation through advisory votes, under a new rule adopted by US securities regulators on Tuesday. The "say-on-pay" rules, approved in a 3-2 vote by the Securities and Exchang
Published 26 Jan, 2011 12:00am
British economy suffers shock fourth quarter contraction

British economy suffers shock fourth quarter contraction

Britain's economy unexpectedly shrank in the last three months of 2010, causing a major headache for the government as it embarks on the deepest spending cuts in a generation. Finance minister George Osborne said the shock 0.5 percent contraction would no
Published 26 Jan, 2011 12:00am
Middle East markets: Kuwait banks hit 27-month high

Middle East markets: Kuwait banks hit 27-month high

Kuwait banks hit a 27-month high on Tuesday as traders bought in ahead of quarterly earnings, but valuations may have run ahead of fundamentals. Banks stocks have surged since Kuwait last year unveiled a $104 billion infrastructure spending plan - to be p
Published 26 Jan, 2011 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan stocks closed up 0.49 percent on Tuesday, with tourism shares jumping nearly 2 percent after a report that individual mainland Chinese might soon be able to freely travel to the island. The main TAIEX share index was up 43.6 points to 8,991.39, aft
Published 26 Jan, 2011 12:00am
Nikkei remains up

Nikkei remains up

Japan's Nikkei average climbed for a second straight session on Tuesday, breaching a key resistance level as it regained some of the ground lost last week, helped by anticipation of upbeat corporate earnings. Market participants said there was cautious op
Published 26 Jan, 2011 12:00am
Tuesday's late morning trade: stocks decline

Tuesday's late morning trade: stocks decline

US stocks fell on Tuesday weighed by disappointing blue chip earnings, including 3M and Johnson & Johnson, ahead of US President Barack Obama's State of the Union speech. Six Dow components have reported results since the close of trading on Monday, inclu
Published 26 Jan, 2011 12:00am
Wall Street rallies

Wall Street rallies

Wall Street resumed its rally on Monday, led by natural resources and tech shares as investors saw stocks regaining momentum lost late last week. A share-buyback from Dow component Intel helped revive optimism, which has been reinforced by more strong pro
Published 26 Jan, 2011 12:00am
Indian shares down nearly one percent

Indian shares down nearly one percent

Indian shares were battered down nearly 1 percent on Tuesday on fears of a quick-succession rate increase by the central bank following its quarter-point hike in key rates, as it fights sticky inflation. The Reserve Bank of India (RBI) raised interest rat
Published 26 Jan, 2011 12:00am
Treasuries gain

Treasuries gain

The US Treasury debt yields remained solidly anchored on Monday near the middle of a range that has held since mid-December, ahead of upcoming supply and a Federal Reserve meeting this week. But with the new debt supply coming as the Fed continues to buy
Published 26 Jan, 2011 12:00am
Treasuries gain

Treasuries gain

The US Treasury debt yields remained solidly anchored on Monday near the middle of a range that has held since mid-December, ahead of upcoming supply and a Federal Reserve meeting this week. But with the new debt supply coming as the Fed continues to buy
Published 26 Jan, 2011 12:00am
South East Asian markets: Indonesia, Philippines rebound

South East Asian markets: Indonesia, Philippines rebound

Indonesian and Philippine shares rose on Tuesday, regaining a little of the ground lost recently as some investors looked for bargains in banks and other big-cap stocks, but others in the region failed to hold on to early gains. Several Southeast Asian in
Published 26 Jan, 2011 12:00am
Hong Kong, Shanghai shares fall

Hong Kong, Shanghai shares fall

Hong Kong stocks eased for a fourth consecutive day on Tuesday, tracking another weak day in Shanghai, despite a surge in Chinese Internet giant Tencent and bargain hunting in certain beaten down stocks. The Hang Seng Index eased 0.05 percent to 23,788.83
Published 26 Jan, 2011 12:00am
Bangladesh stocks soar

Bangladesh stocks soar

Shares on the Dhaka Stock Exchange soared Tuesday when the market re-opened after weeks of plunges that forced repeated trading halts and triggered clashes between investors and police. Trading in the Bangladeshi capital had been suspended since Thursday
Published 26 Jan, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares edged up on Tuesday, led by technology and auto plays, including LG Display and Hyundai Motor, but gains were limited as the index neared its all-time high. The Korea Composite Stock Price Index ended up 0.22 percent at 2,086.67 points. The K
Published 26 Jan, 2011 12:00am
European shares down

European shares down

European shares fell on Tuesday, as confidence in Britain was shaken by an unexpected drop in fourth-quarter UK growth figures and with Spanish banks down on concerns new capital requirement rules may not be tough enough. Britain's economy unexpectedly sh
Published 26 Jan, 2011 12:00am
UK's top share index slips

UK's top share index slips

Retailers were hit as Britain's top share index fell on Tuesday after a shock 0.5-percent contraction in UK GDP in the last three months of 2010. The FTSE 100 closed down 26.14 points, or 0.4 percent, at 5,917.71, having risen 0.8 percent on Monday. Figur
Published 26 Jan, 2011 12:00am
UK interbank rates fall

UK interbank rates fall

Sterling interbank lending rates fell on Tuesday as markets scaled back expectations for a UK interest rate hike after news that Britain's economy unexpectedly shrank 0.5 percent in the last quarter of 2010. Unusually poor winter weather accounted for onl
Published 26 Jan, 2011 12:00am
Sterling tumbles versus euro

Sterling tumbles versus euro

Sterling tumbled to a two-and-a-half month low against the euro on Tuesday as a shock contraction in the UK economy caused investors to scale back expectations for interest rates rises in coming months. Britain's economy shrank 0.5 percent in the last thr
Published 26 Jan, 2011 12:00am
Euro near two-month high in Asia

Euro near two-month high in Asia

The euro held firm near a two-month peak on Tuesday, showing only the barest signs of fatigue after a rally in the past two weeks, as climbing eurozone interest rates prompted speculators to bet on further gains in the currency. The Australian dollar fell
Published 26 Jan, 2011 12:00am
Euro reverses gains in London

Euro reverses gains in London

The euro came off a two-month high on Tuesday as the eurozone rescue fund's first offer of debt attracted strong demand as expected, while the pound dived after a shock contraction in the UK economy last quarter. Speculation about potential interest rate
Published 26 Jan, 2011 12:00am
Midday trade in New York: euro falls in volatile session

Midday trade in New York: euro falls in volatile session

The euro swung between gains and losses against the dollar on Tuesday but ultimately fell from a two-month high after the eurozone rescue fund's first debt offer was oversubscribed and prompted selling.
Published 26 Jan, 2011 12:00am
Euro hits two-month high

Euro hits two-month high

The euro hit a two-month high near $1.37 on Monday but lost some momentum in New York trade as worries about Europe's debt crisis and the speed of the euro's recent rally provoked some euro longs to book profits. Political turmoil in Ireland highlighted p
Published 26 Jan, 2011 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 Tuesday. 71.15/71.15 (previous 71.15/71.15). Call Money Rates: 4.00-5.75 percent (previous 4.00-6.00 percent).
Published 26 Jan, 2011 12:00am
Australian slides, New Zealand dollar outperforms

Australian slides, New Zealand dollar outperforms

The Australian dollar slid about half a US cent on Tuesday in the face of lower-than-expected consumer inflation data, which reinforced market expectations the central bank will likely not hike interest rates until well into the year. Australia's trimmed
Published 26 Jan, 2011 12:00am
Swiss franc falls

Swiss franc falls

The Swiss franc yielded ground to the euro on Tuesday but held a three-week high on the dollar after strong gains against both currencies the previous session ahead of US consumer confidence data due later in the day.
Published 26 Jan, 2011 12:00am
Indian rupee gains

Indian rupee gains

The Indian rupee strengthened on Tuesday, supported by the euro's gains against the dollar and firmer local stocks. At 10:30 am (0500 GMT), the partially convertible rupee was at 45.48/49 per dollar, 0.4 percent above its close of 45.67/68 on Monday. One-
Published 26 Jan, 2011 12:00am
Taiwan dollar, won rise

Taiwan dollar, won rise

The Taiwan dollar and the South Korean won rose against the dollar on Tuesday as investors bought stocks in Asian markets where they are less concerned about inflation. The baht, the worst performer among emerging Asian currencies so far this year, steadi
Published 26 Jan, 2011 12:00am
Yuan steadies

Yuan steadies

China's yuan steadied versus the dollar on Tuesday, hovering near its record trading high, after the People's Bank of China set the mid-point at a new peak but up only slightly from Monday's fixing, traders said. The PBOC recently fixed a slew of record h
Published 26 Jan, 2011 12:00am
MDGs' achievement must for reducing child mortality

MDGs' achievement must for reducing child mortality

Speaking at the inaugural session of a three-day workshop on 'Basic Minimum Family Planning Content Package for Medical Colleges,' health professionals have said the Millennium Development Goals (MDGs) needs to be achieved for reducing child mortality and
Published 26 Jan, 2011 12:00am
Gas load-shedding: industrial investment has come to a halt: PHMA

Gas load-shedding: industrial investment has come to a halt: PHMA

Industrial investment in Punjab has come to a halt due to long periods of gas load-shedding and industrialists are shifting their export businesses to Bangladesh and other countries. Commenting on this industrial upheaval, Chaudhry Salamat Ali, Chairman,
Published 26 Jan, 2011 12:00am
Setting up of 'Punjab Food Authority' approved

Setting up of 'Punjab Food Authority' approved

In order to provide pure and hygienic essential items to people, Punjab Chief Minister, Muhammad Shahbaz Sharif in a high level meeting, here on Tuesday, granted approval to establishing completely autonomous Punjab Food Authority. He informed the meeting
Published 26 Jan, 2011 12:00am
FATA vote scam: PTI seeks suo motu notice

FATA vote scam: PTI seeks suo motu notice

Pakistan Tehreek-e-Insaf (PTI), Khyber Paktunkhwa and FATA has demanded of the Supreme Court (SC) to take suo-motto notice of the vote buying scam allegedly involving the elected representative from tribal areas. Addressing at a news conference, here on T
Published 26 Jan, 2011 12:00am
Electric power demand-supply gap

Electric power demand-supply gap

The demand and supply gap of electricity remained 16,00MW as it was in last 24 hours with improving weather conditions in the country. Power generation remained 10,463MW against a demand of 12,089MW, leaving the consumers to suffer a gap of 1,628MW. Power
Published 26 Jan, 2011 12:00am
Federer flying but Djokovic stands in his way

Federer flying but Djokovic stands in his way

Roger Federer made a quick dash into an eighth straight Australian Open semi-final on Tuesday but Novak Djokovic's resounding win over Thomas Berdych was a warning the Swiss cannot yet count on a sixth final. Djokovic was close to his best in a 6-1 7-6 6-
Published 26 Jan, 2011 12:00am
Former players, referees hail PFF's steps

Former players, referees hail PFF's steps

Former Lyari-based international players and referees have hailed Pakistan Football Federation (PFF)'s President Faisal Saleh Hayat for taking tangible steps in boosting football in rural and urban areas of Pakistan and making spell from 2003 to 2010 as "
Published 26 Jan, 2011 12:00am
Injured Swann heading home

Injured Swann heading home

England are confident spinner Graeme Swann will be fit for next month's World Cup, despite being ruled out Tuesday of the rest of the Australian tour with a back injury. England coach Andy Flower said Swann would not play in any of the final four matches
Published 26 Jan, 2011 12:00am
Division-I cricket tournament begins

Division-I cricket tournament begins

National One-day Division-I Cricket Tournament will get underway from Wednesday (today). In the opening match, Wapda will take on Faisalabad Wolves at Iqbal Stadium Faisalabad. All-rounder Fawad Alam will lead National Bank of Pakistan (NBP) squad in the
Published 26 Jan, 2011 12:00am
Women cricket team of Nepal due on February 9

Women cricket team of Nepal due on February 9

Women Cricket team of Nepal will be touring Pakistan from February 9 to play a series of four Twenty-20 matches against the host Pakistan at different venues. A spokesman of Pakistan Cricket Board (PCB) said on Tuesday that the touring Women Cricket team
Published 26 Jan, 2011 12:00am
Ticket revenues donated to flood victims

Ticket revenues donated to flood victims

All ticket revenue from the Asian Cup semi-finals on Tuesday will be donated to help flood victims in Australia, Sri Lanka and Thailand, organisers said. A joint statement by Asian Football Confederation (AFC) president Mohamed Bin Hammam and Qatar Footba
Published 26 Jan, 2011 12:00am
Japan reach final

Japan reach final

Three-time champions Japan reached the Asian Cup final after defeating arch-rivals South Korea 3-0 in a nail-biting penalty shootout in the semi-finals on Tuesday. Centre-back Yasuyuki Konno netted the decisive penalty, placing the ball into the right-han
Published 26 Jan, 2011 12:00am
African states at odds on Ivory Coast crisis

African states at odds on Ivory Coast crisis

Cracks emerged on Tuesday in African efforts to end a power struggle gripping Ivory Coast, as Uganda became the latest country to question United Nations recognition of Alassane Ouattara as its president. Ugandan President Yoweri Museveni said he differed
Published 26 Jan, 2011 12:00am
Foreigners behind Afghan parliament crisis: Karzai

Foreigners behind Afghan parliament crisis: Karzai

President Hamid Karzai on Tuesday said "foreign hands" were responsible for a crisis over the inauguration of Afghanistan's new parliament that has pitted lawmakers against the US-backed president. Karzai's statement came after he made a U-turn earlier th
Published 26 Jan, 2011 12:00am
New allegations rock German navy

New allegations rock German navy

Discipline was even worse than feared on a three-masted German navy training ship at the centre of a scandal that has put the defence minister under pressure, media reports said on Tuesday. The new allegations reportedly include death threats and aggressi
Published 26 Jan, 2011 12:00am
US embassy bombing man gets life in prison

US embassy bombing man gets life in prison

A US judge on Tuesday sentenced a Tanzanian national to life in prison without parole for his role in the 1998 bombings of two US embassies in Africa. Ahmed Ghailani, 36, was the first former inmate from the Guantanamo Bay jail to be tried in a US civilia
Published 26 Jan, 2011 12:00am
US 'committed' to closing Guantanamo: Clinton

US 'committed' to closing Guantanamo: Clinton

The United States is determined to close the Guantanamo Bay military prison, US Secretary of State Hillary Clinton said here Tuesday, despite delays in shuttering the compound. "We are absolutely committed to closing Guantanamo. It's turned out to be a li
Published 26 Jan, 2011 12:00am
Mikati named Lebanon Prime Minister

Mikati named Lebanon Prime Minister

Hundreds of angry protesters burned tyres and blocked roads across Lebanon on Tuesday after a Hezbollah-backed politician was named prime minister, shifting the balance of power in the country towards Syria and Iran. The nomination of Najib Mikati is seen
Published 26 Jan, 2011 12:00am
Russia's lower house ratifies US nuclear pact

Russia's lower house ratifies US nuclear pact

Russia's lower house of parliament on Tuesday ratified the first nuclear disarmament pact with the United States in two decades in a landslide vote that cemented the sides' recent "reset" in ties. The State Duma voted 350-96 for the new START treaty in th
Published 26 Jan, 2011 12:00am
Jerusalem dig completes tunnel under Old City wall

Jerusalem dig completes tunnel under Old City wall

Israeli archaeologists have finished work on a tunnel which starts at a site near the flashpoint Al-Aqsa mosque compound inside the walls of Jerusalem's Old City, officials said on Tuesday. The controversial 600-metre (-yard) tunnel, originally built as a
Published 26 Jan, 2011 12:00am
350th British soldier killed in Afghanistan

350th British soldier killed in Afghanistan

A British soldier was killed by an explosion in southern Afghanistan on Tuesday, the 350th to die in operations in the country, the Ministry of Defence in London said. The soldier, from 2nd Battalion The Parachute Regiment, was on an operation in the trou
Published 26 Jan, 2011 12:00am
Abbas welcomed home as hero; Qatar denounced

Abbas welcomed home as hero; Qatar denounced

President Mahmoud Abbas got a hero's welcome on Tuesday from thousands of Palestinians who denounced the Qatari regime and its Al Jazeera television channel for accusing their leader of selling out to Israel. Supporters burned posters of the Emir of Qatar
Published 26 Jan, 2011 12:00am
Egyptians rage against Mubarak's 30-year rule

Egyptians rage against Mubarak's 30-year rule

Thousands of Egyptians demanded an end to President Hosni Mubarak's 30-year rule and clashed with police in unprecedented countrywide protests on Tuesday inspired by the revolt that brought down Tunisia's president. "Down, down, Hosni Mubarak," chanted pr
Published 26 Jan, 2011 12:00am
US Republicans threaten to withhold UN funding

US Republicans threaten to withhold UN funding

US Republicans threatened on Tuesday to use their new power as the majority in the House of Representatives to withhold funding for the United Nations as they accused the world body of waste and bias. The chairwoman of the House Foreign Affairs Committee,
Published 26 Jan, 2011 12:00am
Iran not working on bomb: Israel intelligence head

Iran not working on bomb: Israel intelligence head

Iran is not currently working on producing a nuclear weapon but could make one within "a year or two" of taking such a decision, Israel's military intelligence chief said on Tuesday. "The question is not when Iran will acquire the bomb, but how long until
Published 26 Jan, 2011 12:00am
US judge sends engineer to prison in China spy case

US judge sends engineer to prison in China spy case

A former Northrop Grumman Corp engineer has been sentenced to 32 years in prison for providing secret defence information to China, exporting technical military data and other crimes, the US Justice Department said on Tuesday. It said Noshir Gowadia, 66,
Published 26 Jan, 2011 12:00am
Tunisian army disperses protest, man burns himself

Tunisian army disperses protest, man burns himself

Tunisian soldiers fired in the air on Tuesday to disperse hundreds of demonstrators in the central city of Gefsa and a young man set himself alight inside the regional labour union headquarters in protest, witnesses said. It appeared to be the first time
Published 26 Jan, 2011 12:00am
Speakers' corner flourishes in new Tunisia

Speakers' corner flourishes in new Tunisia

"Tunisian people are educated. Why don't they volunteer for these ministries?" the man asked. The crowd munched their popcorn. Their heads turned to a small woman with a loud voice in the middle of the throng. "I'll tell you why, because there are contact
Published 26 Jan, 2011 12:00am
Putin vows revenge for suicide bombing

Putin vows revenge for suicide bombing

Prime Minister Vladimir Putin vowed revenge on Tuesday for a suicide bombing that killed at least 35 people at Russia's busiest airport and underscored the Kremlin's failure to stem a rising tide of attacks. Talking tough a day after the bombing, Russia's
Published 26 Jan, 2011 12:00am
Jackson doctor denies killing singer, as trial set

Jackson doctor denies killing singer, as trial set

Michael Jackson's personal doctor pleaded not guilty to involuntary manslaughter Tuesday, as the date was set for his trial for allegedly killing the pop icon in June 2009. Conrad Murray is to stand trial on March 28 on charges he gave Jackson an overdose
Published 26 Jan, 2011 12:00am
Pilgrims throng Karbala amid tight security

Pilgrims throng Karbala amid tight security

More than a million Shia pilgrims thronged the holy Iraqi city of Karbala on Tuesday for annual mourning rituals, with security forces keeping a tight watch following a spate of deadly attacks. Worshippers continued to pour into the city south of Baghdad
Published 26 Jan, 2011 12:00am
Hundreds of migrants stage hunger strike in Athens

Hundreds of migrants stage hunger strike in Athens

More than 200 illegal immigrants started a hunger strike in Athens on Tuesday to seek legal residence status, in the latest sign of a growing crisis in the recession-hit EU frontier state. Nine in ten illegal immigrants use Greece as a gateway to the Euro
Published 26 Jan, 2011 12:00am
Woman survives 23-story fall in Buenos Aires

Woman survives 23-story fall in Buenos Aires

A woman threw herself Monday from a restaurant on the 23rd-floor of a Buenos Aires hotel, only to miraculously survive when her fall was broken by a parked taxi, police and witnesses said. Photographs showed the 30-year-old woman bent into the buckled roo
Published 26 Jan, 2011 12:00am
Southeast Asia facing new 'health crisis'

Southeast Asia facing new 'health crisis'

Southeast Asia's 600 million people are facing a raft of new health challenges as the disaster-prone region undergoes some of the world's fastest social change, medical papers published Tuesday said. "A health crisis is transpiring right before our eyes,"
Published 26 Jan, 2011 12:00am
UK parliamentarian convicted for expenses fraud

UK parliamentarian convicted for expenses fraud

A member of the upper house of Britain's parliament was found guilty on Tuesday of fiddling his expenses, becoming the first member of the House of Lords to be convicted over a 2009 scandal that engulfed politicians. John Taylor, known as Lord Taylor of W
Published 26 Jan, 2011 12:00am
New York cotton settles lower

New York cotton settles lower

US cotton futures finished lower on Tuesday as speculative buying powered the spot contract to a fresh record high, but that faded and back months sank as a lack of support and fears of a slowdown in top consuming countries such as China weighed on fibre
Published 26 Jan, 2011 12:00am
US copper rises

US copper rises

Copper ended up for a second consecutive day on Monday, and tin prices notched a new record high as supply-side constraints reinforced a bullish outlook for both metals. New York, copper prices regained their composure late last week in anticipation of ro
Published 26 Jan, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

Shanghai's benchmark third-month copper futures contract fell 1.3 percent to 70,830 yuan a tonne on Tuesday. Traders raised fresh concerns about Chinese monetary tightening - something which has caused significant price volatility since inflation and GDP
Published 26 Jan, 2011 12:00am
Copper hits one-month low

Copper hits one-month low

Copper fell to its lowest price in a month on Tuesday as investors worried that rising interest rates in emerging economies would dampen demand, while tin hit a record high on supply concerns. Benchmark copper on the London Metal Exchange closed at $9,250
Published 26 Jan, 2011 12:00am
World oil slips

World oil slips

Oil prices fell on Tuesday as a contraction in Britain's economy and India's interest rate hike to rein in inflation fuelled concerns about economic growth and the effect of rising commodity costs. Commodity markets felt pressure from concern that monetar
Published 26 Jan, 2011 12:00am
Tokyo rubber futures dip

Tokyo rubber futures dip

Tokyo rubber futures dipped on Tuesday, retreating from a record high as falling oil prices triggered profit-taking, but limited supplies of physical rubber still provided support, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchang
Published 26 Jan, 2011 12:00am
New York Cocoa hits year high

New York Cocoa hits year high

Cocoa futures raced to their highest levels in a year on Monday but closed off the day's highs in a measured response to a call for a one-month ban on Ivory Coast cocoa exports. Several analysts were sanguine about the call's potential impact as they expe
Published 26 Jan, 2011 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian palm oil futures fell to one-week low on Tuesday as investors continued to book profits on a rally driven by strong demand and tight supplies. Although cargo surveyors said Malaysian exports hit above 1 million tonnes for the first 25 days of Ja
Published 26 Jan, 2011 12:00am
US soyabeans lower

US soyabeans lower

Chicago Board of Trade soyabean futures closed lower on Monday, with front-month March down 0.55 percent on an improved weather outlook for Argentina and sharply lower crude oil prices, traders said. Crude prices ended lower for a fifth straight day, pres
Published 26 Jan, 2011 12:00am
Liffe cocoa rises

Liffe cocoa rises

Liffe May cocoa ended 15 pounds higher at 2,176 pounds ($3,436) a tonne on Tuesday after rising to a six-month peak of 2,269 pounds on Monday. Prices first soared after Ivory Coast's Alassane Outtara declared a month-long export ban, and six exporters sai
Published 26 Jan, 2011 12:00am
US gold a tad higher

US gold a tad higher

US gold futures ended higher on Monday as a weaker dollar and lingering worries about an European debt crisis helped recoup some lost ground from a two-month low last week. COMEX February gold futures settled up $3.50 at $1,344.5 an ounce on the COMEX div
Published 26 Jan, 2011 12:00am
Gold plunges in Asia

Gold plunges in Asia

Spot gold hit a ten-week low on Tuesday, as support from safe-haven demand diminished on strong economic data out of Europe, but strong physical buying and tight supply in Asia are expected to provide a floor for prices. Spot gold fell below $1,330 for th
Published 26 Jan, 2011 12:00am
Gold tumbles in Europe

Gold tumbles in Europe

Gold fell to a near three-month low on Tuesday, putting the metal on course for its worst monthly performance in 13 months as safe-haven demand evaporated and investors booked further profits on the 2010 rally. Commodities fell broadly, with US crude oil
Published 26 Jan, 2011 12:00am
US MIDDAY: cocoa little changed

US MIDDAY: cocoa little changed

Cocoa was little changed near one-year peaks in volatile trade early on Tuesday, as dealers waited to see whether a call to ban exports from top producer Ivory Coast would affect supplies. Sugar and coffee futures fell, caught up in a drop in the commodit
Published 26 Jan, 2011 12:00am
US MIDDAY: grain futures plummet

US MIDDAY: grain futures plummet

Chicago Board of Trade grain futures were sharply lower on Tuesday, with corn and wheat leading an early slide following a widespread sell-off in commodity prices, including crude oil, traders said. In addition, a firm US dollar and rains in Argentina wei
Published 26 Jan, 2011 12:00am
US MIDDAY: gold falls for fourth day

US MIDDAY: gold falls for fourth day

Gold fell for a fourth straight day on Tuesday, putting the metal on track for its first monthly drop since August, as selling in gold exchange traded funds (ETF) further undermined investor demand for bullion. Analysts, however, expect gold's 10-year bul
Published 26 Jan, 2011 12:00am
Noise against corruption

Noise against corruption

In Pakistan, the hottest issue is the corruption. The first item in the political agenda, or the anti-government rhetoric, of all the frontline political parties, is to eliminate corruption from the country. In my opinion, this is nothing but hoodwinking
Published 26 Jan, 2011 12:00am
Germany to open further Holocaust monument

Germany to open further Holocaust monument

Germany is to open a further Holocaust monument Thursday, this time at the former engineering plant which built the crematorium for the Nazi death camp at Auschwitz. Records show the Topf und Soehne company in the city of Erfurt was proud of the energy-sa
Published 26 Jan, 2011 12:00am
What has gone wrong?

What has gone wrong?

Compassion and tolerance are the virtues that are an essential ingredient of harmony, peace, tranquillity and peaceful co-existence between people of different faiths and creeds in any society. All religions of the world invariably preach the inculcation
Published 26 Jan, 2011 12:00am
Thar coal and national policy

Thar coal and national policy

Pakistan is facing a very serious energy crisis. So much so that it may even drown us. Luckily, everybody understands the gravity of the situation and is taking up actions, which are programmed to help the country to overcome the crisis.
Published 26 Jan, 2011 12:00am
Visa scam?

Visa scam?

While a spate of financial scams involving important members of the ruling elite has caused general despondency, yet another case of alleged wrongdoing by public officials has surfaced this time linking the Foreign Office's protocol department with the vi
Published 26 Jan, 2011 12:00am
Innocuous as it may appear

Innocuous as it may appear

Certain moves which appear to be quite innocuous in the beginning could turn out to be harmful in the long run for the economic management of the country. Frustrated with its efforts to convince the parliament about the need to impose a Reformed General S
Published 26 Jan, 2011 12:00am
Two employees of MOL-affiliated contractors missing

Two employees of MOL-affiliated contractors missing

MOL Pakistan has officially confirmed that two individuals kidnapped on December 20, 2011 from the Marmazai area in Tal Block, District Hangu have safely returned home after their families negotiated their release with the kidnappers.
Published 26 Jan, 2011 12:00am
Afghan universities, ASC to conduct joint research: agreement signed

Afghan universities, ASC to conduct joint research: agreement signed

Consortium of Universities of Afghanistan and Area Study Centre (ASC), University of Peshawar Tuesday signed four Memorandums of Understanding (MoUs). According to the agreement, Kabul University, Herat University, Nangarhar University and Shaikh Zayed Un
Published 26 Jan, 2011 12:00am
Restructuring of NHA on the cards

Restructuring of NHA on the cards

The restructuring of National Highway Authority (NHA) is on the cards and the Ministry of Finance will call National Highway Council's meeting on the matter shortly, said the Secretary Ministry of Finance. Dr Waqar Masood was critical about the financial
Published 26 Jan, 2011 12:00am
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