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Print - 2011-03-17
Most Middle East markets fall as Bahrain imposes curfew

Most Middle East markets fall as Bahrain imposes curfew

Most Middle East markets extended losses on Wednesday as unrest intensified in Bahrain and the kingdom's government introduced a curfew on the second day of martial law. "These are very much top-down markets that are retail dominated and so when we have m
Published 17 Mar, 2011 12:00am
Like gravity the doctrine of necessity remains alive

Like gravity the doctrine of necessity remains alive

Oblivious of the people's economic miseries, growing threats to the national security and the international community's increasing concern about Pakistan's capabilities to overcome these crises, the political leaders are much more focused on moves to mono
Published 17 Mar, 2011 12:00am
VIEW POINT: Beware, the mercenaries

VIEW POINT: Beware, the mercenaries

Unable to crush a popular uprising on its own, the royal family of Bahrain has invited foreign forces to do the job. Saudi troops entered Bahrain on Monday, flashing victory signs, via a causeway that links the tiny island nation with Saudi Arabia. No wor
Published 17 Mar, 2011 12:00am
Policy reforms and the Pakistan's banking sector

Policy reforms and the Pakistan's banking sector

In this paper an attempt has been made to analyse the present and future directions of the banking sector in the overall economy of the country. At the outset, attention is drawn towards two major issues. It may be recalled that after the death of DFIs, t
Published 17 Mar, 2011 12:00am
Why high-seas piracy is here to stay

Why high-seas piracy is here to stay

International Maritime Organisations and other International forums ensured the UN Security Council passing a resolution 1816 (2008) allowing navies to enter the territorial water of Somalia to repress acts of armed robbery and piracy at sea. We, in Pakis
Published 17 Mar, 2011 12:00am
Glitter of the lucre

Glitter of the lucre

Money can buy anything in Pakistan, be it wordly possessions or one's life or liberty. Any one doubting this maxim has only to see the charade of Raymond Davis' freedom!
Published 17 Mar, 2011 12:00am
Japan scrambles to pull nuclear plant back from brink of disaster

Japan scrambles to pull nuclear plant back from brink of disaster

Operators of a quake-crippled nuclear plant in Japan said they would try again on Thursday to use military helicopters to douse overheating reactors and avert disaster after an earlier attempt was abandoned because of high radiation at the site.
Published 17 Mar, 2011 12:00am
China freezes nuclear approvals after Japan crisis

China freezes nuclear approvals after Japan crisis

China's vast nuclear push is likely to slow after the government ordered a safety crackdown on Wednesday in the wake of Japan's nuclear crisis. The announcement by China's State Council, or cabinet, was the clearest sign yet that the crisis at a quake-rav
Published 17 Mar, 2011 12:00am
Syrian forces break up protest

Syrian forces break up protest

Security forces wielding batons dispersed 150 demonstrators who had gathered in central of Damascus on Wednesday in the most serious protest against Syria's ruling hierarchy since revolts spread in the Arab world. Scores of plainclothes security officers
Published 17 Mar, 2011 12:00am
Russia, Turkey say atom power safe, to build plant

Russia, Turkey say atom power safe, to build plant

The leaders of Russia and Turkey, calling nuclear energy safe, promised on Wednesday to press ahead with the construction of a Russian atomic power plant in Turkey despite Japan's nuclear crisis. Russian President Dmitry Medvedev and Turkish Prime Ministe
Published 17 Mar, 2011 12:00am
Fourteen killed in Iran prison violence

Fourteen killed in Iran prison violence

Fourteen prisoners were killed and 33 injured in an incident at an Iranian jail on Wednesday, that state TV said was a brawl among inmates but which one news agency said was a foiled escape attempt. State TV news reported that a brawl broke out at Ghezel
Published 17 Mar, 2011 12:00am
UAE to hold second ever election in September

UAE to hold second ever election in September

The United Arab Emirates will hold the second election in its history in September to pick half the members of its advisory national assembly, the state news agency WAM said on Wednesday. The move to set the election for September 24 comes as anti-governm
Published 17 Mar, 2011 12:00am
Abbas pledges to talk unity with Hamas in Gaza

Abbas pledges to talk unity with Hamas in Gaza

Palestinian president Mahmud Abbas said on Wednesday he was ready to go to Gaza this week for talks with Hamas about ending the split and forming a interim government. Abbas, leader of the secular Fatah movement, said he was ready to go to Gaza "tomorrow"
Published 17 Mar, 2011 12:00am
Gaddafi pummels rebels as war outpaces diplomacy

Gaddafi pummels rebels as war outpaces diplomacy

Libya's army pounded an opposition-held city in the country's west and battled fighters trying to block its advance on a rebel bastion in the east on Wednesday amid flagging diplomatic efforts to end the bloodshed. UN Secretary-General Ban Ki-moon called
Published 17 Mar, 2011 12:00am
Four New York Times journalists missing in Libya

Four New York Times journalists missing in Libya

Four journalists from The New York Times, including a two-time Pulitzer Prize winner, have gone missing in eastern Libya, where rebels are battling Moamer Kadhafi's forces, the newspaper said Wednesday. The Times said editors at the newspaper were
Published 17 Mar, 2011 12:00am
Thai webmaster jailed for 13 years

Thai webmaster jailed for 13 years

Thailand's criminal court has jailed a webmaster for 13 years on charges of insulting the kingdom's revered monarchy and violating computer laws, an official said Wednesday. Thantawut Thaweevarod-omkul, 38, was arrested last year during anti-government "R
Published 17 Mar, 2011 12:00am
Fighting in Mogadishu kills 17

Fighting in Mogadishu kills 17

Exchanges of heavy artillery fire between Islamist rebels linked to al Qaeda and government forces backed by African Union troops killed at least 17 civilians in Mogadishu, medical sources said Wednesday. Fighting between the Shebab insurgency and governm
Published 17 Mar, 2011 12:00am
Indian businessman linked to telecoms scandal found dead

Indian businessman linked to telecoms scandal found dead

An Indian businessman who had been questioned over a multi-billion-dollar telecoms fraud was found dead on Wednesday in the southern city of Chennai after apparently committing suicide. Police described Sadiq Batcha as a business associate and aide to A.
Published 17 Mar, 2011 12:00am
NIM delegation visits Wapda House

NIM delegation visits Wapda House

Wapda is executing 5 dams, 3 mega canals, 5 hydropower projects and 2 drainage schemes under 'Vision-2025'. This was briefed to a delegation of the participants of 11th Mid Career Management Course, National Institute of Management (NIM) Peshawar visited
Published 17 Mar, 2011 12:00am
Kashf Foundation holds annual Naat contest for children

Kashf Foundation holds annual Naat contest for children

Kashf Foundation(KF) held annual Kashf children Naat competition in connection with Eid Milad-un-Nabi (PBUH) on Wednesday. Kashf Foundation's clients are primarily women from low-income households and the children of these clients participated in the comp
Published 17 Mar, 2011 12:00am
Notice issued to secretary finance Punjab

Notice issued to secretary finance Punjab

The Lahore High Court (LHC) here on Wednesday issued notice to secretary finance Punjab in a petition of additional registrar LHC Riaz Ali Zaidi, assailing non provision of 50 percent increase in basic pay of the high court employees. Zaidi submitted in h
Published 17 Mar, 2011 12:00am
Demonstrations held against Raymond's release

Demonstrations held against Raymond's release

Local traders and Shabab-i-Milli on Wednesday evening staged two demonstrations in Multan city against the release of US spy Raymond Davis. A demo was staged in front of Wali Muhammad Mosque in the heart of city under the leadership of Chairman of Small T
Published 17 Mar, 2011 12:00am
IEEE organises International Multi Topic Symposium

IEEE organises International Multi Topic Symposium

The 26th International Multi Topic Symposium organised by Institution of Electric and Electrical Engineers (IEEE) was inaugurated by Dr Atta Ur Rehman Former Federal Minister and former head of HEC in Karachi. A large number of engineers, scientists, acad
Published 17 Mar, 2011 12:00am
IRSA meets water requirements of Rabi crops

IRSA meets water requirements of Rabi crops

There is enough water available in the rivers and the reservoirs and Indus River System Authority (IRSA) will release water in accordance with the indents of the four provinces for maturity of Rabi crops till 15th April 2011, Punjab Irrigation Canal Regul
Published 17 Mar, 2011 12:00am
LHC issues notices to interior ministry, Chairman NAB

LHC issues notices to interior ministry, Chairman NAB

A division bench of the Lahore High Court here Wednesday issued notices to interior ministry and Chairman National Accountability Bureau (NAB) in a petition challenging appointment of Rana Zahid Mehmood as Director General NAB Punjab.
Published 17 Mar, 2011 12:00am
China aims new missile at Taiwan

China aims new missile at Taiwan

Taiwan's top intelligence chief said Wednesday that China is targeting the island with a new type of ballistic missile. "The Chinese communists have deployed the Dongfeng 16, which is a new powerful missile aimed at Taiwan," said Tsai Teh-sheng, the direc
Published 17 Mar, 2011 12:00am
New Delhi told to slim down big, fat weddings

New Delhi told to slim down big, fat weddings

Ruling politicians in New Delhi have condemned increasingly extravagant weddings that waste vast amounts of food and cause traffic chaos in showy displays of wealth. Congress party legislators passed a resolution on Tuesday vowing to hold "simple, sober"
Published 17 Mar, 2011 12:00am
Officer suspended over fatal Afghan air strike: Nato

Officer suspended over fatal Afghan air strike: Nato

A military officer who oversaw an air strike which Afghan officials say killed two children has been suspended, Nato said Wednesday, adding that a helicopter crew had also been grounded.
Published 17 Mar, 2011 12:00am
Russian-US Soyuz crew lands safely on Earth

Russian-US Soyuz crew lands safely on Earth

A Russian Soyuz capsule parachuted onto the Kazakh steppe through stiff winds and snow on Wednesday, delivering a US-Russian astronaut trio to Earth after five months on the International Space Station. US astronaut Scott Kelly and Russian cosmonauts Oleg
Published 17 Mar, 2011 12:00am
Fighting hits west Ivory Coast, rebels deny role

Fighting hits west Ivory Coast, rebels deny role

Fighting erupted in a strategic town in western Ivory Coast on Wednesday, killing at least two, but rebels who back presidential claimant Alassane Ouattara denied involvement. Residents of Duekoue reported several hours of heavy and small arms fire in the
Published 17 Mar, 2011 12:00am
White South African separatist Boshoff dies

White South African separatist Boshoff dies

Carel Boshoff, who founded modern South Africa's sole whites-only town Orania, died on Wednesday at the age of 83, the town said on its website. "After a full and rich life, Carel Boshoff passed on today at noon," his Orania Movement said on its website.
Published 17 Mar, 2011 12:00am
Police arrest 184 in world-wide paedophile ring: Europol

Police arrest 184 in world-wide paedophile ring: Europol

Police in several countries have arrested 184 alleged members of an online paedophile ring and rescued 230 children in "the biggest case of its kind", Europol said on Wednesday. More arrests were expected in the round up, which began three years ago and t
Published 17 Mar, 2011 12:00am
Clinton tours epicentre of anti-Mubarak protests

Clinton tours epicentre of anti-Mubarak protests

US Secretary of State Hillary Clinton toured Cairo's Tahrir Square on Wednesday, smiling, waving and shaking hands as she visited the heart of the revolt that toppled long-time US ally Hosni Mubarak from power. The highest US official to visit since Mubar
Published 17 Mar, 2011 12:00am
Taliban disrupt phone network in Helmand

Taliban disrupt phone network in Helmand

The Taliban forced mobile phone companies to switch off their networks across Afghanistan's Helmand province Wednesday, as security forces conducted an operation, officials said. Deputy provincial governor Abdul Satar Mirzakwal said insurgents had ordered
Published 17 Mar, 2011 12:00am
Two killed in Israeli strike on Gaza

Two killed in Israeli strike on Gaza

Israeli aircraft fired rockets at a Hamas training ground in the Gaza Strip on Wednesday, killing two militants from the group, Palestinian officials said. The attack hit the facility east of Gaza City, killing two people and wounding two others, emergenc
Published 17 Mar, 2011 12:00am
White House backs online 'privacy bill of rights'

White House backs online 'privacy bill of rights'

The White House urged Congress on Wednesday to approve a "consumer privacy bill of rights" that would regulate the collection and use of personal data on the Internet. Assistant Commerce Secretary Lawrence Strickling called for the legislation at a hearin
Published 17 Mar, 2011 12:00am
Bomb kills Iraqi mother and newborn, wounds 33

Bomb kills Iraqi mother and newborn, wounds 33

A car bomb ripped through a crowd outside a hospital in Iraq's restive northern city of Kirkuk Wednesday, killing a mother and her newborn baby and wounding 33 other people, police said. "The car bombing outside the hospital killed a 35-year-old mother an
Published 17 Mar, 2011 12:00am
Two killed by bomb at Nato base in Afghanistan

Two killed by bomb at Nato base in Afghanistan

Two people were killed on Wednesday when a bomb exploded outside a Nato base in southern Afghanistan, setting fire to more than a dozen fuel trucks, police and officials said. Another six people were injured in the blast and a huge blaze is still burning
Published 17 Mar, 2011 12:00am
Australia crush Canada

Australia crush Canada

Reigning champions Australia thrashed Canada by seven wickets in a World Cup Group A match on Wednesday but only after a teenager asked serious questions of their pace attack. Shane Watson (94) and Brad Haddin (88) shared an Australian first-wicket World
Published 17 Mar, 2011 12:00am
Australia crush Canada

Australia crush Canada

Reigning champions Australia thrashed Canada by seven wickets in a World Cup Group A match on Wednesday but only after a teenager asked serious questions of their pace attack. Shane Watson (94) and Brad Haddin (88) shared an Australian first-wicket World
Published 17 Mar, 2011 12:00am
GCU Sports Gala from March 20

GCU Sports Gala from March 20

The annual Sports Gala of the Government College University Lahore is being held on Sunday (March 20) at the university's historical Oval Ground at 3:00 pm.
Published 17 Mar, 2011 12:00am
Dawood Public School holds annual Sports Day

Dawood Public School holds annual Sports Day

The annual Sports Day 2011 of Dawood Public School held at NCC Ground Karachi on Wednesday. Around 1600 girls students of school participated in Mass PT displays, yoga, gymnastic and in several competitions such as tug of war, races, singing, poetry readi
Published 17 Mar, 2011 12:00am
We're ready for Pakistan, says Ponting

We're ready for Pakistan, says Ponting

Australia captain Ricky Ponting believes his side are ready for their biggest World Cup test so far when they tackle fellow heavyweights Pakistan on Saturday. Defending champions Australia eased past Canada by seven wickets on Wednesday to go top of Group
Published 17 Mar, 2011 12:00am
Inter Milan, Man United reach quarters

Inter Milan, Man United reach quarters

Holders Inter Milan stared defeat in the face while Manchester United flirted with danger before both teams were able to sigh with relief after reaching the last eight of the Champions League on Tuesday. Inter staged an unlikely comeback after being outpl
Published 17 Mar, 2011 12:00am
Sammy hopes to have inside track on England

Sammy hopes to have inside track on England

West Indies captain Darren Sammy hopes to make the most of coach Ottis Gibson's knowledge of England when the sides meet in a key World Cup clash on Thursday. Victory for the West Indies in the Group B match will see them into the quarter-finals while Eng
Published 17 Mar, 2011 12:00am
Former England fast bowler Loader dies

Former England fast bowler Loader dies

Former England fast bowler Peter Loader died on Tuesday aged 81, Surrey County Cricket Club announced. Loader was a key member of the Surrey side that won seven consecutive English County Championship titles from 1952-1958 and in a 12-year career took 1,1
Published 17 Mar, 2011 12:00am
Pietersen undergoes successful hernia operation

Pietersen undergoes successful hernia operation

England star Kevin Pietersen has successfully undergone surgery on the hernia which cut short his World Cup campaign, the England and Wales Cricket Board confirmed Wednesday. Pietersen, who was said to be "devastated" by his withdrawal from England's Worl
Published 17 Mar, 2011 12:00am
England face Anderson poser ahead of crunch match

England face Anderson poser ahead of crunch match

England were deciding whether to stick with misfiring strike bowler James Anderson as their World Cup date with destiny approached. Fast bowler Ajmal Shahzad became the latest England player to fall ill on the eve of their crucial World Cup clash against
Published 17 Mar, 2011 12:00am
PFF Chief to attend AFC EXCO Meet today

PFF Chief to attend AFC EXCO Meet today

Pakistan Football Federation (PFF) President Syed Faisal Saleh Hayat will attend the AFC Executive Committee (EXCO) Meet on Thursday (today). This is another feather to his brilliant career cap as he will become first-ever Pakistani to attend such highest
Published 17 Mar, 2011 12:00am
Inter-collegiate hockey: HCBF defeat Law College

Inter-collegiate hockey: HCBF defeat Law College

Punjab University Hailey College of Banking & Finance defeated the University Law College y 4-0 in the opening match of PU Inter-Collegiate Hockey Championship. HCBF team took lead of three goals at the end of first half. Faisal Mujtaba scored another goa
Published 17 Mar, 2011 12:00am
US MIDDAY: gold rebounds

US MIDDAY: gold rebounds

Gold rebounded Wednesday after the previous day's 2 percent drop, as investors shifted the focus back on loose monetary policies and geopolitical tensions and away from Japan's nuclear crisis. Bullion was underpinned by a European Central Bank policymaker
Published 17 Mar, 2011 12:00am
US MIDDAY: copper jumps

US MIDDAY: copper jumps

Copper prices posted their biggest one-day gain in 2-1/2 weeks on Wednesday as investors sought value from Tuesday's three-month low, but gains were fragile due to the uncertain economic impact from Japan's nuclear crisis. "It's more risk appetite back in
Published 17 Mar, 2011 12:00am
US MIDDAY: wheat, corn down; soya up

US MIDDAY: wheat, corn down; soya up

Chicago Board of Trade May corn turned lower early on Wednesday and May wheat cut gains as concerns about the nuclear crisis in Japan grew, traders said. At 11:32 am CDT (1632 GMT), CBOT May wheat was down 1 cent at $6.66-3/4 and May corn was 4 cents lowe
Published 17 Mar, 2011 12:00am
US MIDDAY: sugar and coffee up

US MIDDAY: sugar and coffee up

Most soft commodity markets staged a recovery on Wednesday but investors remained skittish about the nuclear crisis in Japan, already reeling from a killer quake and tsunami. Workers withdrew briefly from Japan's stricken plant because of surging radiatio
Published 17 Mar, 2011 12:00am
Gold soars in Europe

Gold soars in Europe

Gold rose on Wednesday as investors took advantage of the previous day's 2 percent price drop to buy the metal and as the extreme risk aversion that prompted a flight to liquidity on Tuesday eased. Spot gold was last up 0.7 percent at $1,403.85 an ounce a
Published 17 Mar, 2011 12:00am
Gold rebounds in Asia

Gold rebounds in Asia

Gold regained strength on Wednesday after falling to a 1-month low in the previous session, but declines in ETF holdings to their lowest in 10 months suggested that speculators could still sell bullion to raise liquidity if equities reversed gains.
Published 17 Mar, 2011 12:00am
US gold falls

US gold falls

US gold futures fell on Tuesday as fear of a potential radiation catastrophe in Japan hit world financial markets, prompting a flight to cash. COMEX April gold futures closed down $32.1 or 2.3 percent at $1,392.8 an ounce on the COMEX division of the NYME
Published 17 Mar, 2011 12:00am
Oil rises two percent

Oil rises two percent

Oil prices rose 2 percent from near three-week lows on Wednesday as a crackdown on protesters in Bahrain reignited worries unrest in the Middle East could further hit oil supplies. Concerns about the unrest in Bahrain - where troops from Opec kingpin Saud
Published 17 Mar, 2011 12:00am
New York soft commodities plunge

New York soft commodities plunge

Soft commodity futures were hammered Tuesday by a wave of risk-aversion sales spawned by Japan's catastrophic earthquake and tsunami and the subsequent nuclear plant crisis that further threatened the island nation. The selling spree deflated raw sugar va
Published 17 Mar, 2011 12:00am
Liffe coffee jumps

Liffe coffee jumps

Most soft commodity markets staged a recovery rebound on Wednesday but investor nerves were skittish due to the nuclear plant crisis that threatened a Japan already reeling from a killer quake and tsunami. Japan's nuclear crisis seemed to be spiralling ou
Published 17 Mar, 2011 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian palm oil futures shed as much as 3 percent on Wednesday, tracking other commodity prices lower as the nuclear crisis in Japan sent investors scrambling for perceived safe haven assets. The benchmark May 2011 crude palm oil contract on Bursa Mala
Published 17 Mar, 2011 12:00am
US soyabeans plummet

US soyabeans plummet

Chicago Board of Trade soyabean futures fell sharply on Tuesday with the five nearby months down the 70 cent daily trading limit, pressured by a broad-based commodities and equities sell-off as the devastating earthquake in Japan triggered a possible nucl
Published 17 Mar, 2011 12:00am
Tokyo rubber futures jump 4.5 percent

Tokyo rubber futures jump 4.5 percent

Tokyo rubber futures jumped 4.5 percent on Wednesday on the back of short-covering, with contracts snapped up on supply concerns after three Asian rubber producers sought to prevent further price falls, dealers said. The benchmark rubber contract on the T
Published 17 Mar, 2011 12:00am
Copper rebounds

Copper rebounds

Copper rose on Wednesday as investors sought value after Tuesday's three-month lows, but gains were fragile due to worries Japan's nuclear crisis and unrest in North Africa and the Middle East could hit growth. Three-month copper on the London Metal Excha
Published 17 Mar, 2011 12:00am
Shanghai copper rises

Shanghai copper rises

Copper prices rebounded on Wednesday as Asian financial markets rallied, led by a jump in Tokyo stocks, but news of another fire at a quake-damaged nuclear plant in Japan and fears of more radiation leaks kept investors on edge. Shanghai's most active cop
Published 17 Mar, 2011 12:00am
US copper down

US copper down

Copper fell on Tuesday, but trimmed losses late after the US Federal Reserve said the economic recovery is "on a firmer footing" and conditions in the labour market "appear to be improving gradually." COMEX May copper slipped 4.95 cents per lb to settle a
Published 17 Mar, 2011 12:00am
New York cotton near three-week low

New York cotton near three-week low

US cotton futures finished near a three-week low Wednesday, dropping for the 6th time in seven sessions as investors exited positions after news Japan's nuclear emergency was getting worse. Europe's energy chief warned the situation at the earthquake-dama
Published 17 Mar, 2011 12:00am
Swiss franc dips versus dollar

Swiss franc dips versus dollar

The Swiss franc pulled off the previous day's record high against the dollar on Wednesday, as investors took profits following a flight to safety due to the Japanese nuclear crisis. The franc had risen as high as 0.9137 on Tuesday, its strongest ever agai
Published 17 Mar, 2011 12:00am
Yuan slightly up

Yuan slightly up

The yuan ended up slightly against the dollar after trading narrowly on Wednesday, with the market waiting to see when the central bank might let the Chinese currency renew its cycle of appreciation. Spot yuan closed slightly firmer at 6.5713 versus the d
Published 17 Mar, 2011 12:00am
Singapore dollar, ringgit lead gain

Singapore dollar, ringgit lead gain

The Singapore dollar and the Malaysia ringgit led gains in Asian currencies on Wednesday as short-term investors cut dollar holdings with regional stocks rebounding, but doubts remained over the sustainability of those gains as Japan's nuclear crisis appe
Published 17 Mar, 2011 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee ended higher drawing comfort from strong gains in domestic equities, but demand from importers contained the unit's rise. The partially convertible rupee ended at 45.1100/1200 per dollar, 0.3 percent higher against Tuesday's close of 45.2
Published 17 Mar, 2011 12:00am
Australian and New Zealand dollars recoup losses

Australian and New Zealand dollars recoup losses

The Australian and New Zealand dollars recouped a little of the week's hefty losses on Wednesday as Japanese shares bounced, though uncertainty over the nuclear crisis in Japan could see another wave of risk aversion. The Australian dollar edged up to $0.
Published 17 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 Wednesday. 71.94/71.98 (previous 71.83/71.89). Call Money Rates: 11.00-12.00 percent (previous 8.00-12.00 percent).
Published 17 Mar, 2011 12:00am
Yen rallies broadly

Yen rallies broadly

The yen rose broadly on Tuesday, edging towards a record high against the dollar, as fears of a nuclear catastrophe in Japan sparked a sell-off in global stocks and commodities and prompted investors to close riskier trades funded by cheap borrowing in th
Published 17 Mar, 2011 12:00am
Early trade in New York: yen rises in nervous market

Early trade in New York: yen rises in nervous market

The yen neared a record peak against the dollar on Wednesday, but analysts say expectations Japan will intervene to weaken the currency if it gets much stronger may provide a good opportunity to buy the greenback. The dollar hit a four-month low of 80.33
Published 17 Mar, 2011 12:00am
Yen steadies in London

Yen steadies in London

The yen steadied around a four-month high versus the dollar on Wednesday, but Japan's nuclear crisis could trigger more yen demand versus higher risk currencies, raising the prospect of intervention to stem gains. The dollar traded at 80.70 yen, just abov
Published 17 Mar, 2011 12:00am
Yen edges lower in Asia

Yen edges lower in Asia

The yen edged lower on Wednesday, taking its cues from a short-covering bounce in Tokyo shares, but may see more gains near-term as jitters about Japan's nuclear crisis keep investors on edge and risk appetites subdued. Japan's Nikkei share average climbe
Published 17 Mar, 2011 12:00am
Sterling dips versus dollar

Sterling dips versus dollar

Sterling fell against the dollar on Wednesday, dented by concerns about a fragile UK economy while rising risk aversion due to worries about Japan's nuclear crisis helped the dollar. The pound held above the $1.60 level, but analysts saw a risk of further
Published 17 Mar, 2011 12:00am
ECB rate hike bets trimmed

ECB rate hike bets trimmed

Investors no longer fully price in an ECB rate hike in April in light of the shock to growth anticipated after Japan's earthquake, but analysts said only a dramatic escalation of the crisis would push expectations back further. Safe-haven assets rallied a
Published 17 Mar, 2011 12:00am
FTSE drops as Japan nuclear crisis intensifies

FTSE drops as Japan nuclear crisis intensifies

Heightened fears about the nuclear crisis in Japan saw investors shun equities on Wednesday, with falls by heavyweight commodity issues dragging Britain's top share index lower. Banks were the biggest fallers, however, also under pressure as a downgrade o
Published 17 Mar, 2011 12:00am
European shares fall for sixth day

European shares fall for sixth day

European shares extended a losing run to six days on Wednesday as worries about the nuclear crisis in Japan and unrest in the Middle East intensified, and banks fell after Portugal's sovereign debt was downgraded. The pan-European FTSEurofirst 300 index o
Published 17 Mar, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares rose on Wednesday despite concerns about Japan's nuclear crisis, as bargain hunting lifted technology plays and battered transport issues such as Samsung Electronics and Korean Air Line. The Korea Composite Stock Price Index finished up 1.77
Published 17 Mar, 2011 12:00am
Japan's stocks rebound after two-day rout

Japan's stocks rebound after two-day rout

Japanese shares climbed almost 6 percent in heavy volume on Wednesday, a vigorous rebound for a fragile market still down by more than a tenth on pre-earthquake levels and seen as vulnerable to a further sell-off. Hedge funds rushed to cover short positio
Published 17 Mar, 2011 12:00am
Free access to premises, accounts: DG PCA''s powers enhanced

Free access to premises, accounts: DG PCA''s powers enhanced

The Federal Board of Revenue (FBR) has empowered the officials of the Directorate General of Post Clearance Audit (PCA) to have free access to premises, equipment, stocks and accounts relating to manufacturers of the excisable goods and services for audit
Published 17 Mar, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Wednesday (March 16, 2011).

Published 17 Mar, 2011 12:00am
Free access to premises, accounts: DG PCA's powers enhanced

Free access to premises, accounts: DG PCA's powers enhanced

The Federal Board of Revenue (FBR) has empowered the officials of the Directorate General of Post Clearance Audit (PCA) to have free access to premises, equipment, stocks and accounts relating to manufacturers of the excisable goods and services for audit
Published 17 Mar, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (March 16, 2011).

Published 17 Mar, 2011 12:00am
Free access to premises, accounts: DG PCA's powers enhanced

Free access to premises, accounts: DG PCA's powers enhanced

The Federal Board of Revenue (FBR) has empowered the officials of the Directorate General of Post Clearance Audit (PCA) to have free access to premises, equipment, stocks and accounts relating to manufacturers of the excisable goods and services for audit
Published 17 Mar, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Wednesday (March 16, 2011).

Published 17 Mar, 2011 12:00am
DG FIA case: Supreme Court irked by stubbornness of government

DG FIA case: Supreme Court irked by stubbornness of government

The Supreme Court on Monday warned the government it was 'running out of patience' on its stubbornness for not removing DG FIA on the third consecutive order of the apex court. The court had ruled to relieve all the officers, re-appointed on contract basi
Published 17 Mar, 2011 12:00am
Delhi declines to support EU''s package

Delhi declines to support EU''s package

New Delhi has conveyed to Islamabad in plain words that it will not support European Union''s Pakistan specific trade package at the World Trade Organisation (WTO), well-informed sources in Foreign Office told Business Recorder. "India has refused
Published 17 Mar, 2011 12:00am
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