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Print - 2011-03-16
Implementing mobile banking - the right approach!

Implementing mobile banking - the right approach!

Imagine the opportunity 100 million mobile users in Pakistan offer to the banking sector that has just above 10 million accounts - it is high time banks capitalise this opportunity to expand their outreach! Mobile banking not only helps the banks in incre
Published 16 Mar, 2011 12:00am
Net inflows post 27 percent increase

Net inflows post 27 percent increase

Some positive signs are visible with regard to the country's economy as net inflows of foreign investment in Pakistan posted an increase of 27 percent during the first eight months of current fiscal year mainly due to healthy portfolio investment.
Published 16 Mar, 2011 12:00am
Current trends in mobile commerce and banking

Current trends in mobile commerce and banking

According to a new research report by Berg Insight, the worldwide number of users of mobile banking and related services is forecasted to grow from 55 million users in 2009 at a compound annual growth rate (CAGR) of 59.2 percent to reach 894 million users
Published 16 Mar, 2011 12:00am
Net inflows post 27 percent increase

Net inflows post 27 percent increase

Some positive signs are visible with regard to the country's economy as net inflows of foreign investment in Pakistan posted an increase of 27 percent during the first eight months of current fiscal year mainly due to healthy portfolio investment.
Published 16 Mar, 2011 12:00am
Proposed single countrywide mobile commerce/payments platform

Proposed single countrywide mobile commerce/payments platform

The mobile banking/payments/commerce space is rapidly evolving all around the world and Pakistan is no different. With some good globally recognised successes in the banking space, there is now a growing need to extend this reach and services coverage to
Published 16 Mar, 2011 12:00am
LSM registers one percent growth

LSM registers one percent growth

After six months deceleration, the Large Scale Manufacturing (LSM) growth has become positive and posted a growth of one percent during the first seven months of current fiscal year. The momentum in LSM growth, seen in last fiscal year, was upset in the i
Published 16 Mar, 2011 12:00am
UBL Omni - the hallmark of the branchless era

UBL Omni - the hallmark of the branchless era

The world has witnessed an unprecedented revolution in the past decade. According to a recent UN report, the number of global mobile subscriptions has quadrupled from approximately 1 billion in 2002 to more than 4.1 billion end of last year.
Published 16 Mar, 2011 12:00am
LSM registers one percent growth

LSM registers one percent growth

After six months deceleration, the Large Scale Manufacturing (LSM) growth has become positive and posted a growth of one percent during the first seven months of current fiscal year. The momentum in LSM growth, seen in last fiscal year, was upset in the i
Published 16 Mar, 2011 12:00am
1LINK - "Smart Banking, Smarter Lifestyle"

1LINK - "Smart Banking, Smarter Lifestyle"

Khayyam Mahmood Butt, is one of the most experienced IT professionals in Pakistan and was among the first group of persons to join this field in the country. Mr Butt has vast experience in the field of information technology and has over 40 years of exper
Published 16 Mar, 2011 12:00am
LSM registers one percent growth

LSM registers one percent growth

After six months deceleration, the Large Scale Manufacturing (LSM) growth has become positive and posted a growth of one percent during the first seven months of current fiscal year. The momentum in LSM growth, seen in last fiscal year, was upset in the i
Published 16 Mar, 2011 12:00am
M-commerce on a roll

M-commerce on a roll

The usage of e-commerce has not gained too much popularity in Pakistan in the way it has made inroads into the trade and business sector in the developed countries.
Published 16 Mar, 2011 12:00am
Rates at record low: Fed sees firmer economy; holds policy steady

Rates at record low: Fed sees firmer economy; holds policy steady

The Federal Reserve said on Tuesday the US recovery was gaining traction and rising inflation pressures will probably prove transitory as it stuck to its program of extraordinary monetary support. The Federal Reserve on Tuesday kept interest rates at thei
Published 16 Mar, 2011 12:00am
Fundamo - global leader in mobile financial services

Fundamo - global leader in mobile financial services

Mobile financial services, while still being a new market, has the genuine power to change people's lives by revolutionising how we use financial services. At present 3.5 billion people cannot currently access financial services according to the GSMA.
Published 16 Mar, 2011 12:00am
Rates at record low: Fed sees firmer economy; holds policy steady

Rates at record low: Fed sees firmer economy; holds policy steady

The Federal Reserve said on Tuesday the US recovery was gaining traction and rising inflation pressures will probably prove transitory as it stuck to its program of extraordinary monetary support. The Federal Reserve on Tuesday kept interest rates at thei
Published 16 Mar, 2011 12:00am
Message from Chief Executive, TOTAL Communication

Message from Chief Executive, TOTAL Communication

It gives me immense pleasure to share the experience of Mobile Commerce conferences held over the past years and the current 4th International MCB Mobile Conference. It just looks yesterday when the idea was first discussed to organise the country's first
Published 16 Mar, 2011 12:00am
Rates at record low: Fed sees firmer economy; holds policy steady

Rates at record low: Fed sees firmer economy; holds policy steady

The Federal Reserve said on Tuesday the US recovery was gaining traction and rising inflation pressures will probably prove transitory as it stuck to its program of extraordinary monetary support. The Federal Reserve on Tuesday kept interest rates at thei
Published 16 Mar, 2011 12:00am
Partner AbacusConsulting

Partner AbacusConsulting

Mobile penetration now nears the 100 Million Subscriber mark in Pakistan and this by far forms the most ubiquitous communication channel in the country. The staggering growth has come from a combination of a committed regulator, world-class cellular servi
Published 16 Mar, 2011 12:00am
Government unlikely to arrange Rs 157 billion for wheat procurement

Government unlikely to arrange Rs 157 billion for wheat procurement

The federal government is unlikely to arrange an amount of Rs 157 billion for procurement of wheat in 2011 because of financial constraints. This was the crux of the discussion on wheat procurement and presentation given by the Ministry of Food and Agricu
Published 16 Mar, 2011 12:00am
Message from President UBL

Message from President UBL

It gives me immense pleasure to be a sponsor of the 4th Mobile Commerce Conference. The growing number of participants and speakers each year is a clear manifestation of excitement in the local industry around the area of Mobile Banking. No longer just a
Published 16 Mar, 2011 12:00am
Government unlikely to arrange Rs 157 billion for wheat procurement

Government unlikely to arrange Rs 157 billion for wheat procurement

The federal government is unlikely to arrange an amount of Rs 157 billion for procurement of wheat in 2011 because of financial constraints. This was the crux of the discussion on wheat procurement and presentation given by the Ministry of Food and Agricu
Published 16 Mar, 2011 12:00am
Canadian canola falls sixth straight day

Canadian canola falls sixth straight day

ICE Canadian canola futures mostly dropped on Monday to extend their losing streak to six sessions, the longest stretch of losses in nine months. Fears about weaker demand in earthquake-ravaged Japan weakened grains and oilseeds early, and fund selling fu
Published 16 Mar, 2011 12:00am
Government unlikely to arrange Rs 157 billion for wheat procurement

Government unlikely to arrange Rs 157 billion for wheat procurement

The federal government is unlikely to arrange an amount of Rs 157 billion for procurement of wheat in 2011 because of financial constraints. This was the crux of the discussion on wheat procurement and presentation given by the Ministry of Food and Agricu
Published 16 Mar, 2011 12:00am
India's oilmeals sale to Japan likely to halve in March

India's oilmeals sale to Japan likely to halve in March

India's oilmeal exports to Japan, Asia's top feedstocks market, is likely to halve in March due to uncertainty over shipments to the disaster-hit nation, an Indian industry official said on Tuesday. India sells about 100,000 tonnes of feedstocks a month t
Published 16 Mar, 2011 12:00am
Islamabad, Bishkek vying for trade expansion

Islamabad, Bishkek vying for trade expansion

Pakistan and Kyrgyzstan on Tuesday agreed on reviving and making the four-country transit trade pact effective in a bid to strengthen regional economic co-operation. Prime Minister Syed Yusuf Raza Gilani who met his Kyrgyz counterpart Almazbek Atambaev fo
Published 16 Mar, 2011 12:00am
US Midwest corn, soya bids steady to firm

US Midwest corn, soya bids steady to firm

Spot basis bids for corn and soyabeans were steady to firm at US Midwest processors, elevators and ethanol plants on Monday as futures for both crops rose modestly but farmers stayed on the sidelines, grain merchants said. Many growers are waiting for pri
Published 16 Mar, 2011 12:00am
Islamabad, Bishkek vying for trade expansion

Islamabad, Bishkek vying for trade expansion

Pakistan and Kyrgyzstan on Tuesday agreed on reviving and making the four-country transit trade pact effective in a bid to strengthen regional economic co-operation. Prime Minister Syed Yusuf Raza Gilani who met his Kyrgyz counterpart Almazbek Atambaev fo
Published 16 Mar, 2011 12:00am
Bangladeshi tea prices fall

Bangladeshi tea prices fall

The average price of Bangladeshi teas fell 5.48 percent to 84.78 taka ($1.18) per kg on poor quality at the last and final weekly auction of the outgoing season on Tuesday, brokers said. Some 27.42 percent of the 1.28 million kg on offer remained unsold a
Published 16 Mar, 2011 12:00am
Islamabad, Bishkek vying for trade expansion

Islamabad, Bishkek vying for trade expansion

Pakistan and Kyrgyzstan on Tuesday agreed on reviving and making the four-country transit trade pact effective in a bid to strengthen regional economic co-operation. Prime Minister Syed Yusuf Raza Gilani who met his Kyrgyz counterpart Almazbek Atambaev fo
Published 16 Mar, 2011 12:00am
Indonesia ready to provide more coal to Japan

Indonesia ready to provide more coal to Japan

Indonesia, the world's largest exporter of thermal coal, stands ready to provide additional coal to Japan to meet an expected surge in demand, said an official at the Indonesian Coal Mining Association on Tuesday. Japan faces a potential catastrophe after
Published 16 Mar, 2011 12:00am
Oil World cuts Brazil's soya crop forecast

Oil World cuts Brazil's soya crop forecast

Late rain is likely to cut Brazil's 2011 soyabean harvest to between 70-71 million tonnes from forecasts of 71-72 million tonnes, Hamburg-based oilseeds analysts Oil World said on Tuesday. This would still be up on the 68.6 million tonnes of soyabeans har
Published 16 Mar, 2011 12:00am
India raises cane buy price; output may rise

India raises cane buy price; output may rise

India has raised the price sugar mills must pay to cane growers from the next season starting October, government sources said on Tuesday, boosting sugar output prospects in the world's biggest consumer of the sweetener. The possibility of higher output i
Published 16 Mar, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 155,807 tonnes of cargo including 109,579 tonnes of import cargo, 46,228 tonnes of export cargo and 5,424 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 109,579 tonnes comp
Published 16 Mar, 2011 12:00am
Oil cake market rates

Oil cake market rates

Contracts showed no change on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The March vaida that had closed at Rs 1245.10 opened at the same rate. The May contract which closed at Rs 1323.90 depicted no change in th
Published 16 Mar, 2011 12:00am
Argentina's sunseed crop forecast raised

Argentina's sunseed crop forecast raised

Argentina may harvest 3.1-3.2 million tonnes of sunflower seeds in 2011, up from 2.6 million tonnes in 2010, Hamburg-based oilseeds analysts Oil World forecast on Tuesday. The improved forecast followed better weather which has improved sunflower crop yie
Published 16 Mar, 2011 12:00am
Seeds prices decline as wholesale market demand falls

Seeds prices decline as wholesale market demand falls

Prices of seed items declined on the wholesale grain market on Tuesday as a result of less demand, dealers said. Several changes were seen on the seeds sector, where rapeseeds Dadulane shed Rs 50 to Rs 1950-2000, rapeseeds Mirpurlane followed the same pat
Published 16 Mar, 2011 12:00am
Zain okays joint offer for Saudi assets

Zain okays joint offer for Saudi assets

Kuwaiti telco Zain said Bahrain Telecom and Kingdom Holding would have to guarantee part of Zain Saudi's debt and infuse more money to buy 25 percent of the Saudi operator. Zain said on Tuesday that the consortium led by Saudi billionaire Prince Alwaleed'
Published 16 Mar, 2011 12:00am
Zain okays joint offer for Saudi assets

Zain okays joint offer for Saudi assets

Kuwaiti telco Zain said Bahrain Telecom and Kingdom Holding would have to guarantee part of Zain Saudi's debt and infuse more money to buy 25 percent of the Saudi operator. Zain said on Tuesday that the consortium led by Saudi billionaire Prince Alwaleed'
Published 16 Mar, 2011 12:00am
Quake, tsunami to cost Japan economy $100 billion: DBS

Quake, tsunami to cost Japan economy $100 billion: DBS

The massive earthquake and tsunami that struck Japan last week will cost its economy about $100 billion, Singapore's DBS Bank estimated Tuesday. The sum is about two percentage points of Japan's annual gross domestic product (GDP), said David Carbon, the
Published 16 Mar, 2011 12:00am
Beijing airport jumps to No 2 in world rankings

Beijing airport jumps to No 2 in world rankings

Beijing's airport now trails only Atlanta's hub as the world's busiest thanks to a surge in demand in fast-growing Asian economies, an industry association said Tuesday. Beijing Capital International Airport and Chicago's O'Hare, which leapt to the third
Published 16 Mar, 2011 12:00am
IEA warns of oil price shock on global economy

IEA warns of oil price shock on global economy

Sustained high oil prices will damage world economic recovery, the International Energy Agency said on Tuesday, as it warned that Opec's cushion of spare oil output to calm the market was at its lowest for four years. Oil demand could fall later this year
Published 16 Mar, 2011 12:00am
Ireland's unemployment at highest level in 17 years

Ireland's unemployment at highest level in 17 years

Ireland's unemployment rate rose to its highest level in 17 years in the fourth quarter, far outstripping analysts' expectations and highlighting the tough task ahead of the new government, data showed on Tuesday. Irish seasonally adjusted unemployment ro
Published 16 Mar, 2011 12:00am
Eurozone returns to jobs growth

Eurozone returns to jobs growth

Eurozone employment grew year-on-year for the first time since the financial crisis in the last months of 2010, data showed on Tuesday, driven by job creation in the region's core as its periphery struggled. Employment in the fourth quarter rose 0.1 perce
Published 16 Mar, 2011 12:00am
BoJ pumps more funds, markets intervention unlikely now

BoJ pumps more funds, markets intervention unlikely now

The Bank of Japan on Tuesday continued to flood the money market with cash while top policymakers sought to contain a sharp sell-off in Tokyo stocks with reminders they kept a close watch over market moves and assurances about the economy's overall health
Published 16 Mar, 2011 12:00am
BoJ pumps more funds, markets intervention unlikely now

BoJ pumps more funds, markets intervention unlikely now

The Bank of Japan on Tuesday continued to flood the money market with cash while top policymakers sought to contain a sharp sell-off in Tokyo stocks with reminders they kept a close watch over market moves and assurances about the economy's overall health
Published 16 Mar, 2011 12:00am
US long-term capital inflow slips

US long-term capital inflow slips

Foreigners trimmed purchases of long-dated US securities in January for a third straight month, with central banks again spearheading the selling, the US Treasury Department said on Tuesday. Private investors were net buyers though, helping the United Sta
Published 16 Mar, 2011 12:00am
US long-term capital inflow slips

US long-term capital inflow slips

Foreigners trimmed purchases of long-dated US securities in January for a third straight month, with central banks again spearheading the selling, the US Treasury Department said on Tuesday. Private investors were net buyers though, helping the United Sta
Published 16 Mar, 2011 12:00am
US import prices rise

US import prices rise

US import prices rose for the fifth consecutive month in February as political turmoil in the Middle East helped pushed oil prices higher, a US Labour Department report showed on Tuesday. Import prices jumped 1.4 percent, significantly more than the conse
Published 16 Mar, 2011 12:00am
New York manufacturing, employment rise

New York manufacturing, employment rise

Manufacturing in New York state rose in March to a nine-month high, while prices paid also accelerated in another sign inflation is starting to build. The New York Federal Reserve on Tuesday said its "Empire State" general business conditions index rose t
Published 16 Mar, 2011 12:00am
Geithner seeks quick foreclosure pact with banks

Geithner seeks quick foreclosure pact with banks

A comprehensive settlement between US authorities and banks over alleged abuses of mortgage servicing needs to be reached quickly to help the housing market heal, Treasury Secretary Timothy Geithner said on Tuesday. Geithner said such a settlement would a
Published 16 Mar, 2011 12:00am
EU ministers adopt tougher rules against debt, imbalance

EU ministers adopt tougher rules against debt, imbalance

EU finance ministers agreed tougher rules on Tuesday to rein in government borrowing and avoid economic bubbles, seeking to shore up market confidence and to help end the sovereign debt crisis. The ministers backed European Commission proposals to sharpen
Published 16 Mar, 2011 12:00am
Middle East markets slide as traders eye Japan, Bahrain

Middle East markets slide as traders eye Japan, Bahrain

Gulf Arab markets fell on Tuesday as Japan faced up to a potential nuclear catastrophe and Bahrain declared martial law in the island kingdom. "The whole focus is on risk aversion trade what's happening in Bahrain and Japan," said Matthew Wakeman, EFG-Her
Published 16 Mar, 2011 12:00am
Hong Kong, Chinese shares tumble

Hong Kong, Chinese shares tumble

Shares in Hong Kong and Shanghai tumbled on Tuesday as a crippled Japanese nuclear reactor exploded and sent low levels of radiation toward Tokyo, sparking heavy selling of riskier assets worldwide. The benchmark Hang Seng Index fell more than 4.5 percent
Published 16 Mar, 2011 12:00am
Tuesday's early afternoon trade: stocks tumble

Tuesday's early afternoon trade: stocks tumble

US stocks tumbled on Tuesday in a global selloff as fears that Japan's nuclear power crisis could turn into a larger catastrophe sent investors in search of safety. In a second straight day of losses tied to Japan, the S&P 500 fell to within four points o
Published 16 Mar, 2011 12:00am
US stocks decline

US stocks decline

US stocks fell in the aftermath of Japan's devastating earthquake on Monday, but other than specific industries such as nuclear power, the broad impact on equities was expected to be short-lived. Trading volume was unusually low compared with other sell-o
Published 16 Mar, 2011 12:00am
Taiwan stocks at five-month low

Taiwan stocks at five-month low

Taiwan stocks ended lower on Tuesday in the biggest single-day percentage fall in 13 months after panic selling followed a fresh explosion at a damaged nuclear power plant in Japan's north-east. Fund managers said the main share index would likely break b
Published 16 Mar, 2011 12:00am
Treasuries decline

Treasuries decline

Japanese demand for US government debt might not waver after last week's devastating earthquake and tsunami that killed at least 10,000 people and could cost over $170 billion. Doubts over Japan's appetite for Treasuries came as benchmark Treasury yields
Published 16 Mar, 2011 12:00am
Treasuries decline

Treasuries decline

Japanese demand for US government debt might not waver after last week's devastating earthquake and tsunami that killed at least 10,000 people and could cost over $170 billion. Doubts over Japan's appetite for Treasuries came as benchmark Treasury yields
Published 16 Mar, 2011 12:00am
South East Asian markets: Japanese radiation fears trigger selling

South East Asian markets: Japanese radiation fears trigger selling

Southeast Asian stock markets dropped on Tuesday as Japan's growing nuclear problems caused widespread selling, with Singapore falling more than 3 percent at one stage to its lowest level since last August. The potential economic impact on the region of t
Published 16 Mar, 2011 12:00am
Indian shares fall

Indian shares fall

Indian shares fell 1.5 percent on Tuesday, led by the country's top car maker Maruti Suzuki and in tandem with global markets, as a widening nuclear crisis in quake-hit Japan kept investors on edge. "There is a lot of uncertainty," Arun Kejriwal, director
Published 16 Mar, 2011 12:00am
Nikkei posts worst plunge since 1987

Nikkei posts worst plunge since 1987

Japan's Nikkei share average plunged 10.6 percent on Tuesday, posting the worst two-day rout since 1987, as hedge funds bailed out after reports of rising radiation near Tokyo. Many mutual funds were left on the sidelines, leaving them poised to dump shar
Published 16 Mar, 2011 12:00am
Seoul shares down

Seoul shares down

Seoul shares ended down 2.4 percent on Tuesday, hit by worries about nuclear radiation leaks in Japan, but off an earlier loss of as much as 4.5 percent as refining and alternative energy issues outperformed. The Korea Composite Stock Price Index finished
Published 16 Mar, 2011 12:00am
European shares at 3-1/2-month low

European shares at 3-1/2-month low

European shares fell to a 3-1/2 month closing low on Tuesday as investors fled risky assets amid concerns of a nuclear crisis in Japan, with further pain seen for sectors such as luxury goods which rely on Japanese demand. As much as $247 billion was wipe
Published 16 Mar, 2011 12:00am
FTSE at 15-week low

FTSE at 15-week low

Britain's top share index fell to its lowest closing level in 15 weeks on Tuesday as fears about a nuclear catastrophe in Japan prompted investors to shun risky assets. The FTSE 100 ended down for a fifth consecutive session, off 79.96 points, or 1.4 perc
Published 16 Mar, 2011 12:00am
Yuan falls

Yuan falls

The yuan ends down slightly against the dollar on Tuesday, even though the People's Bank of China set a stronger mid-point as investors bought the safe-haven dollar amid a deepening nuclear crisis in Japan. Spot yuan finished down at 6.5727 versus the dol
Published 16 Mar, 2011 12:00am
Sterling tumbles versus euro

Sterling tumbles versus euro

Sterling fell broadly on Tuesday, as fears of a nuclear crisis in Japan sparked a global pullback in riskier currencies and led investors to pare expectations of an early rate hike by the Bank of England. In contrast, investors' expectations that the Euro
Published 16 Mar, 2011 12:00am
Yen surges in Asia

Yen surges in Asia

The yen surged on Tuesday after Japan's prime minister said radiation levels near a quake-stricken nuclear plant had become high and the risk of further nuclear leakage was rising, prompting investors to dump risky assets. Trading was choppy, and the yen
Published 16 Mar, 2011 12:00am
Yen rises in London

Yen rises in London

The yen rose against higher yielding currencies on Tuesday as investors slashed positions in riskier assets on growing fears of a radiation catastrophe in Japan following last week's devastating earthquake. The yen, Swiss franc and US dollar were expected
Published 16 Mar, 2011 12:00am
Early trade in New York: yen jumps versus higher-yielding currencies

Early trade in New York: yen jumps versus higher-yielding currencies

The yen jumped against higher-yielding currencies on Tuesday as investors sold riskier assets on fears of slowing Asian economic growth in the wake of the Japanese earthquake, tsunami and nuclear crisis. The higher-yielding Australian dollar fell more tha
Published 16 Mar, 2011 12:00am
Dollar falls versus yen in New York

Dollar falls versus yen in New York

The dollar fell against the yen on Monday and could test its all-time lows as Japanese insurers and companies repatriated funds to help pay claims and reconstruction costs in the wake of the country's devastating earthquake. The dollar had dipped as low a
Published 16 Mar, 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. 71.83/71.89 (previous 71.72/71.79). Call Money Rates: 11.00-12.00 percent (previous 8.00-12.00 percent).
Published 16 Mar, 2011 12:00am
Australian and New Zealand dollars struggle

Australian and New Zealand dollars struggle

The Australian and New Zealand dollars were on the defensive against the yen and euro on Tuesday, with talk of repatriation of funds back to Japan and hawkish comments from a European central banker weighing on commodity currencies. The Australian dollar
Published 16 Mar, 2011 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee ended weaker on Tuesday as negative sentiment in the domestic equities market along with Asian peers dented confidence in the local unit. The partially convertible rupee ended at 45.2400/2500 per dollar against 45.06/07 per dollar on Mond
Published 16 Mar, 2011 12:00am
Singapore dollar sees worst day in three months

Singapore dollar sees worst day in three months

The Singapore dollar suffered its biggest daily loss in three months against the US dollar on Tuesday as Japan's nuclear crisis deepened and investors dumped riskier assets from currencies to equities and commodities. The South Korean won hit a fresh 2-1/
Published 16 Mar, 2011 12:00am
Yen Libor jumps

Yen Libor jumps

Benchmark Japanese yen interbank rates jumped by the most in a day on Tuesday, reflecting rising counterparty risks as a deepening nuclear crisis in quake-hit Japan fuelled risk aversion globally. Some analysts said they expected yen interbank rates to gr
Published 16 Mar, 2011 12:00am
Swiss franc jumps versus euro

Swiss franc jumps versus euro

The Swiss franc gained against the euro, boosted by investors seeking a safe haven for their money as a fire at a reactor damaged by the Japan quake stoked fears about the disaster's effects on the world economy. The franc was up 0.6 percent against the e
Published 16 Mar, 2011 12:00am
Strauss, Swann miss practice with stomach bug

Strauss, Swann miss practice with stomach bug

England skipper Andrew Strauss and spinner Graeme Swann missed Tuesday's practice with a stomach bug but both are likely to feature in Thursday's must-win Group B match against West Indies. "They both missed practice today with a stomach virus. (We) will
Published 16 Mar, 2011 12:00am
Davison announces retirement

Davison announces retirement

Canada's John Davison, who once held the record for the fastest World Cup century, will retire from international cricket after his side's final match against Australia. Davison, born in Canada but brought up in Australia, smashed the then fastest hundred
Published 16 Mar, 2011 12:00am
Last chance for Australia to experiment

Last chance for Australia to experiment

Australia head into their penultimate group match against Canada on Wednesday knowing it is likely to be the last time in this World Cup they can tinker with their line-up. The reigning champions eased into the quarter-finals with an unconvincing 60-run w
Published 16 Mar, 2011 12:00am
Afridi dismisses fears over playing in India

Afridi dismisses fears over playing in India

Pakistan's captain Shahid Afridi said his team were happy to play their World Cup knockout stage matches in India despite earlier voicing concerns about security. "It does not matter to us where we play our quarter-final. The biggest issue for us was to q
Published 16 Mar, 2011 12:00am
J League postponed indefinitely

J League postponed indefinitely

Japan's J.League has been suspended indefinitely following last week's devastating earthquake and tsunami, local media reported on Tuesday. The first and second division clubs held an emergency meeting at the J.League's headquarters in Tokyo on Tuesday an
Published 16 Mar, 2011 12:00am
Win over Australia gives team enormous confidence, says Waqar

Win over Australia gives team enormous confidence, says Waqar

Pakistan coach Waqar Younis said a win over defending champions Australia in their final group match would give his team enormous confidence heading into their World Cup quarter-final. The 1992 champions eased into the last eight with a comfortable seven-
Published 16 Mar, 2011 12:00am
Pakistan face India in AFC Challenge Cup qualifier

Pakistan face India in AFC Challenge Cup qualifier

It will be Tariq Lutfi vs Bob Houghton as coaches when the 23rd international soccer encounter between Pakistan and India will be recorded in the fourth AFC Challenge Cup Qualifier on 23rd March at Kuala Lumpur. Pakistan are clubbed in Group B and they wi
Published 16 Mar, 2011 12:00am
PVCA wants collective efforts for sports promotion

PVCA wants collective efforts for sports promotion

Pakistan Veterans Cricket Association (PVCA) Chief Executive Officer Ashiq Hussain Qureshi has called for evolving long-term planning to promote sports at grass roots level to check continuous downward slide in different games.
Published 16 Mar, 2011 12:00am
Rogers, Dravid to star for MCC in English opener

Rogers, Dravid to star for MCC in English opener

Australia's Chris Rogers will captain an MCC side featuring India great Rahul Dravid against champion county Nottinghamshire, it was announced Tuesday. For the second year in a row the traditional curtain-raiser to the English season, a four-day game from
Published 16 Mar, 2011 12:00am
South Africa into quarters

South Africa into quarters

South Africa rode on JP Duminy's robust 99 to storm into the World Cup quarter-finals with a crushing 131-run victory over Ireland on Tuesday. The target proved too big for Ireland who were bowled out for 141 in 33.2 overs, with Gary Wilson top-scoring wi
Published 16 Mar, 2011 12:00am
South Africa into quarters

South Africa into quarters

South Africa rode on JP Duminy's robust 99 to storm into the World Cup quarter-finals with a crushing 131-run victory over Ireland on Tuesday. The target proved too big for Ireland who were bowled out for 141 in 33.2 overs, with Gary Wilson top-scoring wi
Published 16 Mar, 2011 12:00am
Saudi Arabia withdraws Reuters reporter's permit

Saudi Arabia withdraws Reuters reporter's permit

Saudi Arabia has withdrawn the accreditation of a senior Reuters correspondent, obliging him to leave the country, after officials complained on Tuesday that a recent report on a protest in the kingdom was not accurate. Reuters said it stood by its covera
Published 16 Mar, 2011 12:00am
Germany shuts down seven reactors

Germany shuts down seven reactors

Germany announced Tuesday the temporary shutdown of its seven oldest nuclear reactors while it conducts a safety probe in light of Japan's atomic emergency. "We are launching a safety review of all nuclear reactors... with all reactors in operation since
Published 16 Mar, 2011 12:00am
Britain denies 'anti-Christian' foreign policy

Britain denies 'anti-Christian' foreign policy

Britain on Tuesday defended its foreign policy after the leader of the Roman Catholic Church in Scotland accused the government of pursuing an "anti-Christian" agenda. Cardinal Keith O'Brien slammed government plans to increase aid to Pakistan. "I urge (B
Published 16 Mar, 2011 12:00am
Dozens of Syrians call for liberty

Dozens of Syrians call for liberty

Dozens of Syrians demonstrated in Damascus on Tuesday for liberty and political reforms and against corruption, according to witnesses and opposition websites. "God, Syria, liberty" and "Syrians, where are you?" chanted men and women inviting their compat
Published 16 Mar, 2011 12:00am
Japan braces for potential radiation catastrophe

Japan braces for potential radiation catastrophe

Japan raced to avert a catastrophe on Wednesday after an explosion at a quake-crippled nuclear power plant sent radiation wafting into Tokyo, prompting some people to flee the capital and others to stock up on essential supplies. The crisis escalated late
Published 16 Mar, 2011 12:00am
US commander sees some progress against Taliban

US commander sees some progress against Taliban

The commander of US and Nato forces in Afghanistan delivered an optimistic assessment of the unpopular war on Tuesday, telling lawmakers his troops will continue to make headway against Taliban insurgents even with a drawdown of American troops set to beg
Published 16 Mar, 2011 12:00am
Egypt dissolves internal security, spying agency

Egypt dissolves internal security, spying agency

Egypt on Tuesday dissolved an internal security and spying agency whose reputation for brutality helped ignite the uprising that swept Hosni Mubarak from power last month. The Interior Ministry replaced state security with a new National Security Force, w
Published 16 Mar, 2011 12:00am
US looking how to support Libyan opposition: Clinton

US looking how to support Libyan opposition: Clinton

Secretary of State Hillary Clinton said on Tuesday that the United States was looking at ways to support the opposition to Libyan leader Muammer Gaddafi. "We understand the urgency of this. And therefore we are upping our humanitarian assistance. We are l
Published 16 Mar, 2011 12:00am
Israel seizes ship with Iran arms for Gaza

Israel seizes ship with Iran arms for Gaza

Israeli naval commandos on Tuesday seized a cargo ship in the Mediterranean carrying what Prime Minister Benjamin Netanyahu said were Iranian-supplied weapons intended for Palestinian militants in the Gaza Strip. A military spokeswoman said Israeli forces
Published 16 Mar, 2011 12:00am
Gaddafi forces seize key town

Gaddafi forces seize key town

Muammar Gaddafi's forces seized a strategic town in eastern Libya on Tuesday, opening the way to the rebel stronghold of Benghazi while world powers failed to agree to push for a no-fly zone. The small town of Ajdabiyah was all that stood between the rele
Published 16 Mar, 2011 12:00am
Two children killed in Nato strike: Afghan official

Two children killed in Nato strike: Afghan official

A Nato air strike killed two children, an Afghan official said Tuesday, threatening to fuel a row over civilian deaths as a top US commander said foreign troops were halting the Taliban's progress. Nato said it had targeted suspected insurgents in the rai
Published 16 Mar, 2011 12:00am
Thousands rally in Gaza, West Bank for 'unity'

Thousands rally in Gaza, West Bank for 'unity'

Thousands of Palestinians rallied in Gaza City and the West Bank on Tuesday in a mass show of strength to call for end to the division in their national movement. The biggest gathering was in Gaza City, where officials from the Hamas-run interior ministry
Published 16 Mar, 2011 12:00am
New York cotton stays lower

New York cotton stays lower

US cotton futures finished limit down for the second straight session Tuesday as fears over Japan's disasters and nuclear crisis on the global economy took their toll on fibre, analysts said. It was the market's fifth fall in six sessions.
Published 16 Mar, 2011 12:00am
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