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

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

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

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

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

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!

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.

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

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

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

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

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

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"

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

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

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

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

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.

"Mushahid of the Qatil League hath spoken."

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

New taxation measures taken by the Federal government including imposition of flood surcharge and exemptions in sales tax will put a financial burden of Rs 30 billion on growers' community. This was alleged by the KBP President Sardar Zafar Hussein and Ge

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

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

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

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

Punjab Assembly on Wednesday sent 11 bills to committees for further deliberation. The bills tabled were:

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

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.

Upon the conclusion of the 3rd Parliamentary year, PILDAT analysis reveals that there has been negligible change in the overall performance of the 13th National Assembly of Pakistan in its 3rd year and therefore, the need for systemic reforms and improvem

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

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"

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.

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

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

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.

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

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

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

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

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

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

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

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

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

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.

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

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

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

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

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

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

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

Pepsi Cricket Revolution Gaming Tournament was organised by Pepsi, in order to provide an unmatched gaming experience to this cricketing nation. A drive to promote the game was also carried out across malls, bazaars and colleges by setting up gaming areas

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

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

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

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

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

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

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

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.

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

Wednesday's Rotterdam vegetable oil prices at 1700 GMT.

Wednesday's Rotterdam vegetable oil prices at 1700 GMT.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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.

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).

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

London Interbank Offer Rates on for calculating interest on special US dollar on Wednesday (March 16, 2011).

Interest rates on new foreign currency deposits issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (March 16, 2011).

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

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

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