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Print - 2011-03-07
Portugal to head UN Libya sanctions committee

Portugal to head UN Libya sanctions committee

The UN Security Council will on Tuesday name Portugal to head its Libya sanctions committee and the first meeting will be held within days, diplomats said Sunday. Portugal's ambassador Jose Moraes Cabral will be named to head the committee on Tuesday and
Published 07 Mar, 2011 12:00am
Online verification of import documents: FBR, SBP working on EDI

Online verification of import documents: FBR, SBP working on EDI

The Federal Board of Revenue (FBR) and the State Bank of Pakistan (SBP) are working on a new system, ie, Electronic Data Interchange (EDI) between banks and customs department for online verification of import documents including Letters of Credit (LCs) e
Published 07 Mar, 2011 12:00am
Online verification of import documents: FBR, SBP working on EDI

Online verification of import documents: FBR, SBP working on EDI

The Federal Board of Revenue (FBR) and the State Bank of Pakistan (SBP) are working on a new system, ie, Electronic Data Interchange (EDI) between banks and customs department for online verification of import documents including Letters of Credit (LCs) e
Published 07 Mar, 2011 12:00am
Online verification of import documents: FBR, SBP working on EDI

Online verification of import documents: FBR, SBP working on EDI

The Federal Board of Revenue (FBR) and the State Bank of Pakistan (SBP) are working on a new system, ie, Electronic Data Interchange (EDI) between banks and customs department for online verification of import documents including Letters of Credit (LCs) e
Published 07 Mar, 2011 12:00am
Shah Mehmood is future Prime Minister, says Pagara

Shah Mehmood is future Prime Minister, says Pagara

Pakistan Muslim League-Functional Chief Pir Pagara on Sunday said that possibility of a movement, once launched by the Pakistan National Alliance, was there, but it would be led by religious leaders.
Published 07 Mar, 2011 12:00am
MQM threatens to quit Sindh government: PAC is PPP's wing: Mirza

MQM threatens to quit Sindh government: PAC is PPP's wing: Mirza

Sindh Home Minister, Dr Zulfiqar Mirza on Sunday declared People's Amn Committee (PAC) as Pakistan People's Party's (PPP) wing, saying "if all members of PAC are criminals then I am too," Aaj News reported. The Muttahida Qaumi Movement (MQM) strongly reac
Published 07 Mar, 2011 12:00am
MQM threatens to quit Sindh government: PAC is PPP's wing: Mirza

MQM threatens to quit Sindh government: PAC is PPP's wing: Mirza

Sindh Home Minister, Dr Zulfiqar Mirza on Sunday declared People's Amn Committee (PAC) as Pakistan People's Party's (PPP) wing, saying "if all members of PAC are criminals then I am too," Aaj News reported. The Muttahida Qaumi Movement (MQM) strongly reac
Published 07 Mar, 2011 12:00am
Amin Khattak passes away

Amin Khattak passes away

A veteran leader of Awami National Party (ANP) Sindh, Amin Khattak, passed away at a local hospital on Sunday after suffering heart attack. "Amin Khattak was taken to Liaquat National Hospital at around 1 pm after he complained of chest pain," said a spok
Published 07 Mar, 2011 12:00am
Amin Khattak passes away

Amin Khattak passes away

A veteran leader of Awami National Party (ANP) Sindh, Amin Khattak, passed away at a local hospital on Sunday after suffering heart attack. "Amin Khattak was taken to Liaquat National Hospital at around 1 pm after he complained of chest pain," said a spok
Published 07 Mar, 2011 12:00am
Pakistan to begin mango exports to US this year

Pakistan to begin mango exports to US this year

Pakistan will start exporting mangoes to the United States, for the first time, from May this year. The US market which hitherto had been dominated by India in the export of mango, in all possibility, will be taken over by Pakistan as the quality of fruit
Published 07 Mar, 2011 12:00am
Pakistan to begin mango exports to US this year

Pakistan to begin mango exports to US this year

Pakistan will start exporting mangoes to the United States, for the first time, from May this year. The US market which hitherto had been dominated by India in the export of mango, in all possibility, will be taken over by Pakistan as the quality of fruit
Published 07 Mar, 2011 12:00am
Pakistan to begin mango exports to US this year

Pakistan to begin mango exports to US this year

Pakistan will start exporting mangoes to the United States, for the first time, from May this year. The US market which hitherto had been dominated by India in the export of mango, in all possibility, will be taken over by Pakistan as the quality of fruit
Published 07 Mar, 2011 12:00am
Turkish team to discuss rental power project

Turkish team to discuss rental power project

A high level meeting is being held here on Monday (today) to sort out the issues related to first 232 Megawatt rental power project to be linked to KESC's power distribution system.
Published 07 Mar, 2011 12:00am
Turkish team to discuss rental power project

Turkish team to discuss rental power project

A high level meeting is being held here on Monday (today) to sort out the issues related to first 232 Megawatt rental power project to be linked to KESC's power distribution system.
Published 07 Mar, 2011 12:00am
Turkish team to discuss rental power project

Turkish team to discuss rental power project

A high level meeting is being held here on Monday (today) to sort out the issues related to first 232 Megawatt rental power project to be linked to KESC''s power distribution system.
Published 07 Mar, 2011 12:00am
Prime Minister says only parliament can rewrite constitution

Prime Minister says only parliament can rewrite constitution

Prime Minister Syed Yousuf Raza Gilani said no institution other than parliament can rewrite the constitution. "The Constitution clearly determines the role of all state institutions which work within their ambit and are bound to follow the Constitution,"
Published 07 Mar, 2011 12:00am
Prime Minister says only parliament can rewrite constitution

Prime Minister says only parliament can rewrite constitution

Prime Minister Syed Yousuf Raza Gilani said no institution other than parliament can rewrite the constitution. "The Constitution clearly determines the role of all state institutions which work within their ambit and are bound to follow the Constitution,"
Published 07 Mar, 2011 12:00am
Illegal contractual appointments: OGDCL employees to go on strike today

Illegal contractual appointments: OGDCL employees to go on strike today

The Oil and Gas Development Company Limited (OGDCL) regular employees will go on hunger strike today (Monday) after the company management refuses to sack officials, whose appointments were made in violation of rules and regulations, Business Recorder
Published 07 Mar, 2011 12:00am
Illegal contractual appointments: OGDCL employees to go on strike today

Illegal contractual appointments: OGDCL employees to go on strike today

The Oil and Gas Development Company Limited (OGDCL) regular employees will go on hunger strike today (Monday) after the company management refuses to sack officials, whose appointments were made in violation of rules and regulations, Business Recorder
Published 07 Mar, 2011 12:00am
Illegal contractual appointments: OGDCL employees to go on strike today

Illegal contractual appointments: OGDCL employees to go on strike today

The Oil and Gas Development Company Limited (OGDCL) regular employees will go on hunger strike today (Monday) after the company management refuses to sack officials, whose appointments were made in violation of rules and regulations, Business Recorder
Published 07 Mar, 2011 12:00am
Gunman fires at Qatari consul's car

Gunman fires at Qatari consul's car

A gunman opened fire on a car carrying Qatar's consul and two other Gulf diplomats in an apparent robbery attempt, but no injuries were reported, Qatar's state-run news agency said Sunday. Police confirmed an attempted robbery on a Qatari mission vehicle
Published 07 Mar, 2011 12:00am
Gunman fires at Qatari consul's car

Gunman fires at Qatari consul's car

A gunman opened fire on a car carrying Qatar's consul and two other Gulf diplomats in an apparent robbery attempt, but no injuries were reported, Qatar's state-run news agency said Sunday. Police confirmed an attempted robbery on a Qatari mission vehicle
Published 07 Mar, 2011 12:00am
Tajik President due today

Tajik President due today

Tajik Presid-ent Emomali Rahman will arrive here on Monday (today) on a three-day state visit to hold talks with the Pakistani leadership to further strengthen bilateral ties and explore new avenues of co-operation.
Published 07 Mar, 2011 12:00am
Tajik President due today

Tajik President due today

Tajik Presid-ent Emomali Rahman will arrive here on Monday (today) on a three-day state visit to hold talks with the Pakistani leadership to further strengthen bilateral ties and explore new avenues of co-operation.
Published 07 Mar, 2011 12:00am
National anti-polio campaign begins today

National anti-polio campaign begins today

A three-day national immunisation campaign against polio starts today in Punjab. Health Department has constituted more than 38 thousands vaccination teams which would visit door-to-door for administrating polio vaccine drops to the children. Polio drops
Published 07 Mar, 2011 12:00am
Two children among three burnt alive

Two children among three burnt alive

Three persons including two children were burnt alive by some unknown men in Chak Mooney on Jhumra-Chiniot road, here Sunday night. Muhammad Yar and his family members were sleeping in a hut when some unknown persons set it on fire. Resultantly, his wife,
Published 07 Mar, 2011 12:00am
US agencies involved in suicide attacks: Munawar Hasan

US agencies involved in suicide attacks: Munawar Hasan

The Jamaat e Islami chief, Syed Munawar Hasan, has said the US agencies were causing suicide attacks through hired people and the CIA and Black Water were involved in terrorism and subversive activities in the country. He has exhorted the army to stop mil
Published 07 Mar, 2011 12:00am
Three killed, three injured in firing incidents

Three killed, three injured in firing incidents

Three people were killed and another three injured in different shooting incidents in various parts of city, Chippa sources said on Sunday. One, Bashir, 60, was killed when some unknown armed persons fired multiple shots on him in Defence Phase 2 area. As
Published 07 Mar, 2011 12:00am
Conference on 'Value Addition, Innovation in Textiles' on March 14

Conference on 'Value Addition, Innovation in Textiles' on March 14

The National Textile University (NTU) Faisalabad will hold the first international conference on March 14 and 15 on the topic of "Value Addition and Innovation in Textiles" in collaboration with Marmara University, Istanbul (Turkey), University of Boltan
Published 07 Mar, 2011 12:00am
First phase of Punjab Institute of Neuroscience to be completed by June

First phase of Punjab Institute of Neuroscience to be completed by June

Chairman, Board of Management Post-Graduate Medical Institute, Qazi Humayon Fareed, has said that the 1st phase of 500 bedded Punjab Institute of Neuroscience, General Hospital Lahore would be completed by the end of June 2011 and it would be a state of t
Published 07 Mar, 2011 12:00am
Man chops off legs of wife, paramour

Man chops off legs of wife, paramour

Muhammad Farooq chopped off the legs of his wife Saima and her paramour Shahbaz Ahmed in village No 43/15-L (Mian Chunnu) with a sharp hatchet on Saturday. Later, he appeared before tthe police and courted arrest Farooq said that on Saturday night, in his
Published 07 Mar, 2011 12:00am
'Aashiyana' a revolutionary project: Chief Minister Punjab

'Aashiyana' a revolutionary project: Chief Minister Punjab

Punjab Chief Minister Muhammad Shahbaz Sharif presided over a meeting here on Sunday, which reviewed the pace of progress of low-cost housing scheme, Aashiyana. Member Provincial Assembly and Chairman Punjab Land Development Company, Sh. Allaudin and offi
Published 07 Mar, 2011 12:00am
Chief minister Punjab meets MPAs

Chief minister Punjab meets MPAs

Punjab Chief Minister Muhammad Shahbaz Sharif here on Sunday met the assembly legislators and stated that Pakistan was facing serious challenges and there was a greater need for tolerance, brotherhood and unity. He impressed upon for collective efforts fo
Published 07 Mar, 2011 12:00am
Three charred bodies found in a house

Three charred bodies found in a house

Local police found three charred bodies in a house in a nearby village on Sunday. On receiving information, Saddar police reached the site and found three bodies in one room of a house in chak 15-JB, some 50 kms from here. The police shifted the bodies, t
Published 07 Mar, 2011 12:00am
Religious parties seek promotion of peace for country's prosperity

Religious parties seek promotion of peace for country's prosperity

Leaders of the main religious parties in separate meetings have said that the religious parties are against terrorism and want peace for prosperity of the country. Addressing the party workers here on Sunday Amir Jamiat Ulema-e-Islam Maulana Fazl-ur-Rehma
Published 07 Mar, 2011 12:00am
Lawmaker sees threat from radicalised US Muslims

Lawmaker sees threat from radicalised US Muslims

The chairman of the US House of Representatives Homeland Security Committee said on Sunday he saw a security threat from organised al Qaeda efforts to radicalise American Muslims.
Published 07 Mar, 2011 12:00am
Japan Foreign Minister quits in fresh blow to Prime Minister

Japan Foreign Minister quits in fresh blow to Prime Minister

Japanese Foreign Minister Seiji Maehara resigned on Sunday to take responsibility for accepting donations from a foreign national, adding to unpopular Prime Minister Naoto Kan's troubles as he battles to keep his own job.
Published 07 Mar, 2011 12:00am
NASA scientist claim of 'alien life' draws scrutiny

NASA scientist claim of 'alien life' draws scrutiny

A NASA scientist's claim that he found tiny fossils of alien life in the remnants of a meteorite has stirred both excitement and skepticism, and is being closely reviewed by 100 experts.
Published 07 Mar, 2011 12:00am
Egypt Prime Minister names first post-Mubarak Cabinet

Egypt Prime Minister names first post-Mubarak Cabinet

Egypt's prime minister-designate has named a caretaker Cabinet to help lead the country through reforms and toward free elections after the uprising that ousted President Hosni Mubarak. The changes include new faces in the key ministries of foreign affair
Published 07 Mar, 2011 12:00am
Protesters attacked near Cairo security headquarters

Protesters attacked near Cairo security headquarters

Armed civilians attacked hundreds of Egyptian protesters outside the state security headquarters in Cairo on Sunday, as the army fired warning shots and used sticks to disperse the crowd, witnesses said.
Published 07 Mar, 2011 12:00am
Yemeni opposition vows to intensify protests

Yemeni opposition vows to intensify protests

Yemen's opposition movement vowed on Sunday to intensify protests against the regime of President Ali Abdullah Saleh, after the embattled leader refused to resign by the end of the year. With violence gripping the strategic US ally on multiple fronts, the
Published 07 Mar, 2011 12:00am
South Sudan sets conditions for north debt help

South Sudan sets conditions for north debt help

South Sudan will help the north get relief on around $38 billion in debt, as long as the north "co-operates" on a border dispute and other issues in the countdown to the country's split, a southern official said.
Published 07 Mar, 2011 12:00am
Bahrain promises government jobs, protests continue

Bahrain promises government jobs, protests continue

Plans by Bahrain to create 20,000 jobs in its security apparatus could be a move to open up government jobs to the country's disgruntled Shias and appease protesters against the Sunni-led government.
Published 07 Mar, 2011 12:00am
Iran's energy minister spared impeachment

Iran's energy minister spared impeachment

Iranian President Mahmoud Ahmadinejad narrowly avoided losing his second minister in as many months on Sunday when parliament voted not to impeach him by just one vote. In parliament, which ousted Ahmadinejad's transport minister in February, 101 lawmaker
Published 07 Mar, 2011 12:00am
Saudi Arabia releases Shia cleric

Saudi Arabia releases Shia cleric

Saudi authorities have released a Shia cleric two days after Shia in the eastern region demonstrated demanding his release. Tawfiq al-Amer, who was arrested last week after he called for a constitutional monarchy, was released Sunday, a close associate of
Published 07 Mar, 2011 12:00am
Hundreds protest civilian deaths in Afghan capital

Hundreds protest civilian deaths in Afghan capital

Hundreds of people chanting "Death to America" protested in Kabul on Sunday against a spate of civilian casualties caused by international forces, a sign of the simmering anti-Western emotion among many ordinary Afghans.
Published 07 Mar, 2011 12:00am
Italy to keep troops in Afghanistan, says Berlusconi

Italy to keep troops in Afghanistan, says Berlusconi

Italian Prime Minister Silvio Berlusconi said Sunday that he had no plans to pull troops out of Afghanistan and praised Italian soldiers for building a special relationship with the locals. In a letter to "an Italian sister" published in Il Corriere della
Published 07 Mar, 2011 12:00am
Former French President Chirac to stand trial

Former French President Chirac to stand trial

After years of claiming presidential immunity to avoid legal proceedings, Jacques Chirac is finally facing a court. The former president, a bugabo for George W. Bush during his rush to war in Iraq, on Monday becomes France's first former head of state to
Published 07 Mar, 2011 12:00am
Turkey jails two more journalists over coup plot

Turkey jails two more journalists over coup plot

A court on Sunday charged two more prominent journalists with links to an alleged plot to topple the Turkish government in a case that has raised worries of media freedom in Turkey.
Published 07 Mar, 2011 12:00am
White House considers tapping oil reserves

White House considers tapping oil reserves

White House Chief of Staff William Daley said on Sunday the Obama administration was considering tapping into the US strategic oil reserve as a way to help ease soaring oil prices.
Published 07 Mar, 2011 12:00am
Bayer eyeing more joint ventures in India: CFO

Bayer eyeing more joint ventures in India: CFO

German drugmaker Bayer said more joint ventures in India could be the way forward to tap into a growing market where rivals are willing to pay far higher premiums in take-over auctions. In January, Bayer signed an agreement with unlisted Indian pharmaceut
Published 07 Mar, 2011 12:00am
Bayer eyeing more joint ventures in India: CFO

Bayer eyeing more joint ventures in India: CFO

German drugmaker Bayer said more joint ventures in India could be the way forward to tap into a growing market where rivals are willing to pay far higher premiums in take-over auctions. In January, Bayer signed an agreement with unlisted Indian pharmaceut
Published 07 Mar, 2011 12:00am
China sovereign fund seeks cash injection

China sovereign fund seeks cash injection

China's $300 billion sovereign wealth fund could get a government cash injection worth up to $20 billion, state media said on March 03, citing unnamed sources. A plan for the capital injection into China Investment Corp (CIC) has been submitted to the Sta
Published 07 Mar, 2011 12:00am
China sovereign fund seeks cash injection

China sovereign fund seeks cash injection

China's $300 billion sovereign wealth fund could get a government cash injection worth up to $20 billion, state media said on March 03, citing unnamed sources. A plan for the capital injection into China Investment Corp (CIC) has been submitted to the Sta
Published 07 Mar, 2011 12:00am
Malaysia's Proton signs tech deal with Nissan

Malaysia's Proton signs tech deal with Nissan

Struggling Malaysian car maker Proton said on March 05 it had signed a deal with Japanese giant Nissan to share technology as it looks to boost its presence and competitiveness overseas. The state-controlled company, which announced an unexpected quarterl
Published 07 Mar, 2011 12:00am
FT publisher Pearson profits up 20 percent

FT publisher Pearson profits up 20 percent

British media and education group Pearson, owner of the Financial Times newspaper, said on February 28 that its 2010 net profit rose 20 percent to £670 million (790 million euros, $1.08 billion). Sales rose 10 percent to £5.66 billion in what Pearson chie
Published 07 Mar, 2011 12:00am
FT publisher Pearson profits up 20 percent

FT publisher Pearson profits up 20 percent

British media and education group Pearson, owner of the Financial Times newspaper, said on February 28 that its 2010 net profit rose 20 percent to £670 million (790 million euros, $1.08 billion). Sales rose 10 percent to £5.66 billion in what Pearson chie
Published 07 Mar, 2011 12:00am
JP Morgan to open $10 billion resources fund to Asian investors

JP Morgan to open $10 billion resources fund to Asian investors

The asset management arm of J. P Morgan plans to open its $10 billion global natural resources fund to wealthy investors and institutions in Asia this year to tap their appetite for commodities and natural resources, a senior executive said on March 01. J
Published 07 Mar, 2011 12:00am
Intikhab Alam backs selections

Intikhab Alam backs selections

Pakistan manager Intikhab Alam Sunday brushed aside criticism from former great Imran Khan, who said team selections at the World Cup had been negative. Imran said playing with two frontline pacemen and two spinners, in addition to Mohammad Hafeez as spin
Published 07 Mar, 2011 12:00am
New Zealand wary of Pakistan threat

New Zealand wary of Pakistan threat

New Zealand captain Daniel Vettori has demanded a complete performance against a threatening Pakistan bowling attack when the two teams meet in a World Cup Group A match on Tuesday. Led by skipper Shahid Afridi's leg-spin, Pakistan possess variety in thei
Published 07 Mar, 2011 12:00am
Shakib fires back at former players who blasted his team

Shakib fires back at former players who blasted his team

Under-fire Bangladesh captain Shakib Al Hasan attacked some of the country's former top cricketers on Sunday for their criticism of his team following their humiliating defeat to West Indies. "I feel really bad when I see the former cricketers talk like c
Published 07 Mar, 2011 12:00am
Nasreen Jalil vows to promote donkey-cart race

Nasreen Jalil vows to promote donkey-cart race

Head of Hamara Karachi Foundation and former Naib Nazim (deputy mayor) of Karachi Ms Nasreen Jalil vowed on Sunday to promote donkey-cart race and urged the government authorities to patronise this sport like others.
Published 07 Mar, 2011 12:00am
Pride and prejudice drives on Kenya, Canada

Pride and prejudice drives on Kenya, Canada

Kenya and Canada contest a battle of no-hopers on Monday, but both are determined to prove that the decision to drive them into the World Cup wilderness is wrong. The two non-Test playing teams are languishing at the bottom of Group A without a point afte
Published 07 Mar, 2011 12:00am
Karlovic breaks record for world's fastest serve

Karlovic breaks record for world's fastest serve

Croatia's Ivo Karlovic broke the fastest serve world record when he fired a 251 kmph (156mph) blast during his country's Davis Cup tie against Germany in Zagreb, the International Tennis Federation said on Sunday. The 2.08m-tall Karlovic, back from Achill
Published 07 Mar, 2011 12:00am
Prime Minister congratulates Pakistan tennis team for Davis Cup wins

Prime Minister congratulates Pakistan tennis team for Davis Cup wins

Prime Minister Syed Yusuf Raza Gilani congratulated Pakistani tennis team which won the crucial tie matches against Hong Kong in the Davis Cup Championship. The Prime Minister while congratulating the captain and team members, said that the government wou
Published 07 Mar, 2011 12:00am
West Indies blast 'ridiculous' Lorgat in stoning row

West Indies blast 'ridiculous' Lorgat in stoning row

West Indies coach Ottis Gibson blasted International Cricket Council boss Haroon Lorgat as "ridiculous" on Sunday for attempting to play down the Dhaka bus stoning controversy. Lorgat insisted that Friday's incident, which saw the West Indies team bus att
Published 07 Mar, 2011 12:00am
Holders Serbia see off India to advance in Davis Cup

Holders Serbia see off India to advance in Davis Cup

Davis Cup title-holders Serbia went through to the quarter-finals on Sunday after beating India 4-1 in their World Group first round tie in Novi Sad. Viktor Troicki, who became a national hero after beating France's Michael Llodra in December to win the D
Published 07 Mar, 2011 12:00am
Hat-trick hero Kuyt shatters United

Hat-trick hero Kuyt shatters United

Dirk Kuyt scored a hat-trick to blow the Premier League title race wide open as Liverpool cruised to a 3-1 win over leaders Manchester United at Anfield on Sunday. United went into the game knowing that victory would earn them a six-point lead over neares
Published 07 Mar, 2011 12:00am
Hard labour for India but England earn a bonus

Hard labour for India but England earn a bonus

England's much-maligned pacemen turned out to be the show-stopper in Sunday's heart-stopper in Chennai, bowling the team to a six-run win against South Africa to put their World Cup campaign back on track. In Bangalore, Group B neighbours India averted mo
Published 07 Mar, 2011 12:00am
Hard labour for India but England earn a bonus

Hard labour for India but England earn a bonus

England's much-maligned pacemen turned out to be the show-stopper in Sunday's heart-stopper in Chennai, bowling the team to a six-run win against South Africa to put their World Cup campaign back on track. In Bangalore, Group B neighbours India averted mo
Published 07 Mar, 2011 12:00am
Sudan central bank governor resigns

Sudan central bank governor resigns

Sudan's central bank governor Sabir Mohammad al-Hassan has resigned and is due to step down on Monday, the Central Bank of Sudan said. The departure of the long-serving governor is likely to cause dismay in a country facing the double challenge of an econ
Published 07 Mar, 2011 12:00am
Top Republican says Obama not serious on budget cuts

Top Republican says Obama not serious on budget cuts

Senate Republican leader Mitch McConnell Sunday accused President Barack Obama of not being serious about trying to slash the US deficit and government spending, as time runs out for a deal.
Published 07 Mar, 2011 12:00am
German business lobbies call for tough euro rules

German business lobbies call for tough euro rules

Germany's main business lobbies on Sunday called on countries sharing the euro currency to adopt tough rules at an upcoming summit aimed at sorting out Europe's debt crisis. In an open letter to euro zone leaders, the heads of the BDI, BDA, DIHK and ZDH i
Published 07 Mar, 2011 12:00am
Cameron vows to cut red tape to boost business

Cameron vows to cut red tape to boost business

British Prime Minister David Cameron promised on Sunday to cut bureaucracy to boost business at a time of deep cuts in public spending. Cameron was setting the scene for a budget on March 23 which the Conservative Liberal Democrat coalition has said will
Published 07 Mar, 2011 12:00am
SGX chief promotes ASX merger

SGX chief promotes ASX merger

The head of Singapore's stock exchange tried to win investor support on Sunday for a proposed merger with the Australian bourse, saying the move would help companies enjoy better growth.
Published 07 Mar, 2011 12:00am
Three Bangladeshis fleeing Libya drown in Greek waters

Three Bangladeshis fleeing Libya drown in Greek waters

Greek coastguards on Sunday retrieved the bodies of three Bangladeshi nationals who drowned off the coast of Crete when they fled from a ship that was evacuating them from Libya, the Merchant Marine said. "Forty-nine people left the ship. They used a rope
Published 07 Mar, 2011 12:00am
Aussie to hold onto parity, New Zealand dollar uncertain

Aussie to hold onto parity, New Zealand dollar uncertain

The high performer Australian dollar should hang on to parity in the coming months on speculation domestic rates, already among the highest in the developed world, may head even higher, a poll showed on Wednesday.
Published 07 Mar, 2011 12:00am
Middle East markets track Saudi gains, but volatility remains

Middle East markets track Saudi gains, but volatility remains

Gulf Arab markets rose on Sunday, with the Dubai and Kuwait benchmarks pulling away from six-year lows to track gains a day earlier on Saudi Arabia's bourse, the region's largest. The kingdom's index rose 0.9 percent after surging 7.3 percent on Saturday
Published 07 Mar, 2011 12:00am
Global Markets Weekahead: oil tests investor resilience

Global Markets Weekahead: oil tests investor resilience

Investors face a key stress test in the coming week as the Middle Eastern political crisis, rising oil prices and expectations for higher interest rates slow the ascent of world stocks near their 30-month highs.
Published 07 Mar, 2011 12:00am
Yuan pool should be expanded in Hong Kong: banker

Yuan pool should be expanded in Hong Kong: banker

Large corporate issuers won't raise money in Hong Kong's renminbi market unless the pool of the Chinese currency there is expanded considerably, according to a senior investment banker who is a member of the consultative body to China's parliament.
Published 07 Mar, 2011 12:00am
Japan stocks to push ahead next week

Japan stocks to push ahead next week

Japanese shares are likely to be supported by hopes of global economic recovery next week, but uncertainties over unrest across the Middle East and North Africa will limit gains, brokers said. In the week to March 4 the headline Nikkei index at the Tokyo
Published 07 Mar, 2011 12:00am
Zloty seen firming on rate hikes, forint gains muted

Zloty seen firming on rate hikes, forint gains muted

The zloty is seen leading currency gains in Central Europe in the next 12 months, while possible monetary policy loosening in Hungary could limit any gains by the forint, a Reuters poll showed on Thursday. The poll of 36 analysts conducted between Februar
Published 07 Mar, 2011 12:00am
Euro, sterling and yen seen more volatile in March

Euro, sterling and yen seen more volatile in March

The euro, sterling and yen look set to face higher volatility in March as fluctuating crude oil prices and political turmoil in the Middle East weigh on markets. The conclusion is based on the standard deviation of forecasts in the March Reuters currency
Published 07 Mar, 2011 12:00am
Wall Street Weekahead: stocks hit oil slick but economy to trump

Wall Street Weekahead: stocks hit oil slick but economy to trump

Stocks will take their cues from the oil market next week as unrest rumbles through the Middle East. But so far equity investors are sanguine, believing the economic recovery wins the day. Sentiment is driving large daily swings as traders vacillate betwe
Published 07 Mar, 2011 12:00am
British investors to weigh Libya, BoE

British investors to weigh Libya, BoE

Investors in the London FTSE 100 index will next week have one eye on the events in conflict-hit Libya, and its effect on oil prices, and the other on the monthly interest-fixing Bank of England meeting. In the see-saw week just finished the London bourse
Published 07 Mar, 2011 12:00am
Thousands march in Hong Kong over budget

Thousands march in Hong Kong over budget

There were minor scuffles between police and protesters in Hong Kong on Sunday as up to 10,000 people demonstrated over the government's budget plan, with some calling it a "Bauhinia revolution". At least one protester and one policeman were slightly inju
Published 07 Mar, 2011 12:00am
21 airlines fined for fixing passenger, cargo fees

21 airlines fined for fixing passenger, cargo fees

When the airline industry took a nose dive a decade ago, executives at global carriers scrambled to find a quick fix to avoid financial ruin. What they came up with, according to federal prosecutors, was a massive price-fixing scheme among airlines that a
Published 07 Mar, 2011 12:00am
Oman Air staff strike to demand higher pay

Oman Air staff strike to demand higher pay

Around 200 staff of Oman Air, the flag carrier of the Gulf Arab state, went on strike on Sunday demanding higher salaries, employees and company officials said. A wave of revolts against oppressive leaders and economic hardships have been sweeping the Ara
Published 07 Mar, 2011 12:00am
HSBC considering move to Hong Kong

HSBC considering move to Hong Kong

Europe's biggest bank HSBC may move its headquarters from London to Hong Kong because of what it sees as high levels of tax and red tape in the UK, according to a report in the Sunday Telegraph. The newspaper quoted unnamed investors who said they underst
Published 07 Mar, 2011 12:00am
Romania to host forum to attract Gulf investors

Romania to host forum to attract Gulf investors

Romania will host an economic forum bringing together officials and businessmen from the oil-rich Gulf countries, hoping to become an investment hub in the region, a senior diplomat said.
Published 07 Mar, 2011 12:00am
Fiscal prudence key to Jordan growth

Fiscal prudence key to Jordan growth

Jordan's revised 2011 state spending of 6.369 billion dinars ($8.98bn) to cover higher welfare costs will not jeopardise fiscal stability crucial to attract foreign capital inflows, the finance minister said on Sunday. Abu Hammour told parliament as he ga
Published 07 Mar, 2011 12:00am
Bangladesh inflation quickens on food price surges

Bangladesh inflation quickens on food price surges

Rising food prices pushed Bangladesh's annual inflation rate up to 9 percent in January from 8.3 percent a month earlier, official data showed on Sunday. Food inflation in January was 11.9 percent, the highest since September 2008 when food inflation hit
Published 07 Mar, 2011 12:00am
Dollar may rise if oil threatens global growth

Dollar may rise if oil threatens global growth

The dollar could benefit in coming months if political turmoil in Libya spreads to other key oil exporters and accelerates the rise in crude prices to levels that could derail global economic recovery.
Published 07 Mar, 2011 12:00am
Bangladesh court adjourns Yunus hearing

Bangladesh court adjourns Yunus hearing

Bangladeshi Nobel laureate Muhammad Yunus was illegally removed from his pioneering microfinance bank, his lawyers told a packed courtroom in Dhaka on Sunday, before the hearing was adjourned. Yunus, who won the Nobel Prize in 2006 for his concept of smal
Published 07 Mar, 2011 12:00am
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