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Print - 2011-03-24
US new home sales hit record low, outlook gloomy

US new home sales hit record low, outlook gloomy

Sales of new US homes sank to a record low in February and prices were the weakest since December 2003, showing the housing market slide was deepening. The Commerce Department said on Wednesday sales of new single-family homes dropped 16.9 percent to a se
Published 24 Mar, 2011 12:00am
Germany to ease recognition of foreign qualifications

Germany to ease recognition of foreign qualifications

Germany's cabinet Wednesday adopted draft legislation to ease the path of foreign employees into the workforce, as Europe's top economy battles an acute skills shortage. Under the new law, overseas professional qualifications will be recognised more quick
Published 24 Mar, 2011 12:00am
Warren Buffett says global recovery taking hold

Warren Buffett says global recovery taking hold

US billionaire investor Warren Buffett said on Wednesday that the global economic recovery is steadily taking hold, even if is not as fast as people would like. "The economy of America, United States and others around the world are improving month-by-mont
Published 24 Mar, 2011 12:00am
Former director leaked info to Rajaratnam: Goldman CEO

Former director leaked info to Rajaratnam: Goldman CEO

Goldman Sachs Group Inc Chief Executive Lloyd Blankfein made his much-anticipated appearance at Raj Rajaratnam's trial, telling jurors a former director at Wall Street's most powerful bank leaked inside details to the accused hedge fund manager. Blankfein
Published 24 Mar, 2011 12:00am
Britain sees lower growth, borrowing slower to fall

Britain sees lower growth, borrowing slower to fall

Britain cut this year's economic growth forecast and said borrowing would fall more slowly than hoped in a budget on Wednesday that reaffirmed its commitment to effectively wipe out the deficit by 2015. Analysts said predictions of much stronger growth in
Published 24 Mar, 2011 12:00am
World Gold Council shuts down its UAE office

World Gold Council shuts down its UAE office

The World Gold Council (WGC) will shutdown its office in the UAE next week due to a strategic review of their operations, it said on Wednesday. "We recently carried out a strategic review of our operations and whilst there are significant opportunities in
Published 24 Mar, 2011 12:00am
Dubai World signs final debt restructuring deal

Dubai World signs final debt restructuring deal

Dubai World, which rocked markets across the globe in late 2009 with its debt woes, announced on Wednesday that it has signed a final agreement to restructure $14.7 billion (10.4 billion euros) of debt. The government-owned conglomerate announced in Septe
Published 24 Mar, 2011 12:00am
EU leaders set to delay key decision on EFSF fund

EU leaders set to delay key decision on EFSF fund

European Union leaders are unlikely to take a decision on how to strengthen their eurozone bailout fund until June, undermining market confidence and possibly prolonging the region's debt crisis. For months, EU leaders have talked about using a summit in
Published 24 Mar, 2011 12:00am
EU leaders set to delay key decision on EFSF fund

EU leaders set to delay key decision on EFSF fund

European Union leaders are unlikely to take a decision on how to strengthen their eurozone bailout fund until June, undermining market confidence and possibly prolonging the region's debt crisis. For months, EU leaders have talked about using a summit in
Published 24 Mar, 2011 12:00am
Most South East Asian markets gain

Most South East Asian markets gain

Southeast Asia's stock markets posted gains on Wednesday led by commodity and energy shares, with Thailand hitting a more than two-month closing high helped by buying in industrial and banking stocks. But investors were still wary of uncertainty over the
Published 24 Mar, 2011 12:00am
China shares up, Hong Kong down

China shares up, Hong Kong down

China shares closed higher on Wednesday, helped by property developers and steady gains among banking shares ahead of a slew of closely-watched earnings later this week. Hong Kong's Hang Sen Index finished weaker as earnings from large caps kept the bench
Published 24 Mar, 2011 12:00am
Nikkei falls 1.7 percent

Nikkei falls 1.7 percent

Japanese shares fell on Wednesday, giving up nearly half of the previous day's 4-percent gain, while government bonds edged higher as investors paused to assess the economic damage from this month's earthquake, tsunami and nuclear crisis. After foreign bu
Published 24 Mar, 2011 12:00am
Wednesday's afternoon trade: US stocks edge higher

Wednesday's afternoon trade: US stocks edge higher

US stocks edged higher on Wednesday as a rise in mining and energy shares offset worries about unrest in the Middle East and North Africa, while analysts saw more gains in oil ahead. Volume was at about 4.5 billion, below average for afternoon trading, af
Published 24 Mar, 2011 12:00am
Wall Street slips

Wall Street slips

Wall Street snapped a three-day winning streak on Tuesday, even as investors adjusted to the insecurity created by events in Japan, the Middle East and North Africa. The CBOE Volatility Index fell 1.9 percent to 20.21, leaving it not far from its level be
Published 24 Mar, 2011 12:00am
Seoul shares slip

Seoul shares slip

Seoul shares edged lower on Wednesday after five gaining sessions, with crude oil refiners dropping after recent rallies, but advances in builders like Daelim Industrial helped. The Korea Composite Stock Price Index finished down 0.07 percent at 2,012.18
Published 24 Mar, 2011 12:00am
Treasuries largely stable

Treasuries largely stable

Fixed-income managers see Treasury yields rising fairly steadily unless global turmoil produces more significant news shocks in the coming weeks. Prices were largely stable on Tuesday as economic data remained a distant second to concerns about the extent
Published 24 Mar, 2011 12:00am
Treasuries largely stable

Treasuries largely stable

Fixed-income managers see Treasury yields rising fairly steadily unless global turmoil produces more significant news shocks in the coming weeks. Prices were largely stable on Tuesday as economic data remained a distant second to concerns about the extent
Published 24 Mar, 2011 12:00am
Indian shares remain higher

Indian shares remain higher

Indian shares rose for the second straight session, closing1.2 percent higher on Wednesday as investors picked up bargains in a market that has under performed so far this year. Lenders led the charge. Hopes that India's economic growth story will stay in
Published 24 Mar, 2011 12:00am
Middle East markets: Egypt benchmark tumbles

Middle East markets: Egypt benchmark tumbles

Egypt's benchmark tumbled on Wednesday in the first day's trading since the fall of former president Hosni Mubarak, but Gulf Arab markets were steady in light trade. Egypt's index plunged 8.9 percent, taking its 2011 losses to 28 percent. Trading had been
Published 24 Mar, 2011 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.44 percent on Wednesday, paced by gains in banks such as Chang Hwa Bank and by technology issues like Wistron Corp which are expected to gain orders after the disaster in Japan. However, investor sentiment was cautious since the marke
Published 24 Mar, 2011 12:00am
Qatar bourse in talks for foreign ownership

Qatar bourse in talks for foreign ownership

Qatar stock exchange is in talks with authorities to allow foreign ownership in the bourse as it eyes an emerging market tag from index compiler MSCI, its chief executive said on Wednesday. Allowing foreign ownership in the Gulf state's bourse was a key c
Published 24 Mar, 2011 12:00am
European shares soar

European shares soar

European shares ended higher on Wednesday, helped by strong mining stocks, and analysts said markets should rise even higher once visibility on issues such as the Libyan conflict and Japanese nuclear situation improves. Market experts said equities were a
Published 24 Mar, 2011 12:00am
Miners haul FTSE higher, Sainsbury down on update

Miners haul FTSE higher, Sainsbury down on update

Strong miners helped move Britain's top shares higher on Wednesday, on a budget day that brought a mixed outlook for UK corporates. J Sainsbury fell sharply after a downbeat trading update, while sector peers firmed after the budget, as did housebuilders
Published 24 Mar, 2011 12:00am
ECB rate hike bets rebounding, BoE lags

ECB rate hike bets rebounding, BoE lags

A rebound in expectations that the European Central Bank will begin raising interest rates in April has opened up opportunities for investors ready to bet the less hawkish Bank of England will eventually have to catch-up. Euro interbank lending rates cont
Published 24 Mar, 2011 12:00am
Euro retreats in Asia

Euro retreats in Asia

The euro slipped on Wednesday, retreating from a 4 1/2-month high against the dollar as worries about debt problems in Portugal and Ireland sapped appetite for the currency and its near-term outlook is seen hinging on whether Lisbon's make-or-break attemp
Published 24 Mar, 2011 12:00am
Euro falls versus dollar in London

Euro falls versus dollar in London

The euro fell against the dollar on Wednesday on disappointment at a delay in increasing a euro zone bailout fund and on wariness before a Portuguese vote on austerity measures. Having failed to take out options barriers at $1.4250, the euro was down arou
Published 24 Mar, 2011 12:00am
Early trade in New York: euro falls on Portugal concern

Early trade in New York: euro falls on Portugal concern

The euro fell on Wednesday on concerns a political crisis in debt-ridden Portugal could force the government to seek aid, though losses in the single currency should be limited amid expectations of rising eurozone interest rates. The euro eased from a 4-1
Published 24 Mar, 2011 12:00am
Euro eases after hitting 4-1/2 month high in New York

Euro eases after hitting 4-1/2 month high in New York

The euro eased back after hitting a 4-1/2-month high against the dollar on Tuesday but expectations of a eurozone interest rate hike next month could limit any downside for the single currency. Sterling climbed to a 14-month high against the dollar, also
Published 24 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. 72.50/72.62 (previous 72.40/72.50). Call Money Rates: 11.00-12.00 percent (previous 7.00-12.00 percent).
Published 24 Mar, 2011 12:00am
Won, peso slide in Asian trade

Won, peso slide in Asian trade

The South Korean won led falls in emerging Asian currencies on Wednesday as investors covered their short dollar positions and booked profits from their recent rebounds, suggesting investors are still risk-averse. Debt worries in Portugal and Ireland, as
Published 24 Mar, 2011 12:00am
Indian rupee climbs to two-month high

Indian rupee climbs to two-month high

The Indian rupee climbed to its highest levels in more than two months on the back of strong domestic shares that helped offset the impact of the euro's loss against the dollar. Traders expect the local unit to appreciate further in the short term.
Published 24 Mar, 2011 12:00am
Yuan down slightly

Yuan down slightly

The yuan closed down slightly against the dollar on Wednesday as market expectations of further appreciation of the currency offset a weaker mid-point set by the People's Bank of China. In a sign of growing optimism that the government may let the yuan ri
Published 24 Mar, 2011 12:00am
Australian and New Zealand dollars hold gains

Australian and New Zealand dollars hold gains

The Australian and New Zealand dollars briefly dipped on Wednesday, before regaining steam after positive World Bank comments on the economic outlook for China. Gains were limited, however, by euro zone worries and weak Japanese stocks.
Published 24 Mar, 2011 12:00am
Swiss franc gains versus euro

Swiss franc gains versus euro

Worries about debt problems in Portugal and unrest in North Africa pushed the Swiss franc up against the euro on Wednesday, with some analysts seeing further gains in the next few sessions. Lisbon's parliament will vote on the Portuguese government's late
Published 24 Mar, 2011 12:00am
Sterling extends losses

Sterling extends losses

Sterling fell to a session low on Wednesday after the UK government cut its growth forecasts and said borrowing would fall more slowly than hoped, while less hawkish than expected Bank of England minutes drove speculators to trim long positions.
Published 24 Mar, 2011 12:00am
Number of displaced people hits global high

Number of displaced people hits global high

The number of internally displaced people world-wide reached 27.5 million in 2010, the highest number since the mid-1990s even though the situation in Africa improved, a refugee agency said on Wednesday. While refugees who cross a country's external borde
Published 24 Mar, 2011 12:00am
Saudi Arabia to hold municipal polls

Saudi Arabia to hold municipal polls

Saudi Arabia will begin holding long-delayed municipal elections in April, a ministry said on Wednesday, in a limited political move apparently aimed at helping insulate the US-allied kingdom against a wave of Arab unrest. The Ministry of Municipal and Ru
Published 24 Mar, 2011 12:00am
Sooner Germany abandons nuclear power, the better, says Merkel

Sooner Germany abandons nuclear power, the better, says Merkel

Chancellor Angela Merkel said Wednesday that the sooner Germany abandoned nuclear power the better, but stressed the energy source was still needed as a stopgap technology for Europe's biggest economy. The lesson Germany should learn from the nuclear cris
Published 24 Mar, 2011 12:00am
Oman protesters demand 'corrupt' ministers resign

Oman protesters demand 'corrupt' ministers resign

Protesters in Oman have set up a tent camp at a government complex in the capital Muscat, saying they will not leave until several ministers they accuse of corruption leave. Hundreds of demonstrators Wednesday demanded the ouster of the justice, housing a
Published 24 Mar, 2011 12:00am
Progress in Afghanistan is fragile: Petraeus

Progress in Afghanistan is fragile: Petraeus

The top US commander in Afghanistan said Wednesday that foreign troops are on course to complete their security role by the end of 2014, but warned Taliban fighters will seek to regain ground in a looming spring offensive. General David Petraeus was speak
Published 24 Mar, 2011 12:00am
Nato fire kills Afghan child

Nato fire kills Afghan child

An Afghan child was shot and killed by international forces targeting insurgents in the restive east of the country on Wednesday, police said, triggering a Nato investigation. Coalition forces opened fire from the air on a car carrying a group of militant
Published 24 Mar, 2011 12:00am
Committee charges Mubarak with killing protesters

Committee charges Mubarak with killing protesters

An Egyptian committee set up to investigate violence during demonstrations that toppled Hosni Mubarak has laid charges against the former president for the murder of protesters, a state newspaper said. The committee had also accused the former interior mi
Published 24 Mar, 2011 12:00am
Egypt cabinet approves laws on strikes, parties

Egypt cabinet approves laws on strikes, parties

Egypt's military-backed government approved draft laws on Wednesday to impose prison sentences over some strike action and open the way for new political parties to be formed, the cabinet office said. Allowing new political parties was a key promise by ar
Published 24 Mar, 2011 12:00am
15 dead in new clashes in southern Syria city

15 dead in new clashes in southern Syria city

Syrian police launched a relentless assault Wednesday on a neighbourhood sheltering anti-government protesters, fatally shooting at least 15 in an operation that lasted nearly 24 hours, witnesses said. At least six were killed in a predawn attack on the a
Published 24 Mar, 2011 12:00am
Yemen's Saleh offers elections as pressure mounts

Yemen's Saleh offers elections as pressure mounts

Yemen's president offered on Wednesday to step down by the end of the year in a bid to appease mounting demands for his resignation, but opposition groups showed no sign of easing up on efforts to force him out. Weeks of protests against the 32-year rule
Published 24 Mar, 2011 12:00am
Bangladesh 'ready' to compromise on Yunus

Bangladesh 'ready' to compromise on Yunus

Bangladesh said Wednesday it was ready to compromise on Nobel laureate Muhammad Yunus's controversial dismissal after a US diplomat warned that the issue would affect bilateral ties. Yunus, who won the 2006 Nobel Peace Prize for his concept of small cash
Published 24 Mar, 2011 12:00am
Japan's quake becomes world's costliest natural disaster

Japan's quake becomes world's costliest natural disaster

Tokyo residents were warned not to give babies tap water because of radiation leaking from a nuclear plant crippled in the earthquake and tsunami that devastated north-east Japan in the world's costliest natural disaster. The Japanese government on Wednes
Published 24 Mar, 2011 12:00am
PFF coaching course from March 25

PFF coaching course from March 25

Islamabad Football Association (IFA) in collaboration with the Pakistan Football Federation (PFF) is organising six-day D-Certificate Football Coaching Course from March 25-30 at Jinnah Sports Complex. As many as 24 participants from Islamabad, Punjab, Fa
Published 24 Mar, 2011 12:00am
UVAS annual sports day starts

UVAS annual sports day starts

The University of Veterinary and Animal Sciences (UVAS) is organising 8th annual sports day at varsity main ground here on Thursday (today) March 24, 2011.
Published 24 Mar, 2011 12:00am
Imran wants to see Pakistan versus India

Imran wants to see Pakistan versus India

Imran Khan will be supporting India against Australia in their World Cup showdown on Thursday because he believes a semi-final against Pakistan will capture the sporting world's imagination. The winner of Thursday's quarter-final will face Pakistan in Moh
Published 24 Mar, 2011 12:00am
Home crowd holds no fears for Dhoni

Home crowd holds no fears for Dhoni

India captain Mahendra Singh Dhoni insists playing in front of a sell-out crowd will inspire his side when they face Australia in the World Cup quarter-finals on Thursday. The Sardar Patel Stadium has a capacity of over 48,000 and there will be few spare
Published 24 Mar, 2011 12:00am
Former England spinner Titmus dies at 78

Former England spinner Titmus dies at 78

Former England all-rounder Fred Titmus, whose playing career with Middlesex spanned five decades, has died at the age of 78 after a long illness, the club said on Wednesday. The off-spinner played 53 tests for England and in four Ashes series against Aust
Published 24 Mar, 2011 12:00am
Jubilant Lahorites take out victory march on Mall Road

Jubilant Lahorites take out victory march on Mall Road

The extremely delighted Lahorites took out victory march on The Mall Road soon after Kamran Akmal hit the victory shot to take Pakistan to the semi- final of the World Cup 2011 on Wednesday. Pakistan cricket team has made its way to the semi-final of the
Published 24 Mar, 2011 12:00am
Former Portugal coach Queiroz wins appeal over ban

Former Portugal coach Queiroz wins appeal over ban

Former Portugal coach Carlos Queiroz has won his appeal against the ban he received for insulting anti-doping agents and which led to his sacking last year, the Court of Arbitration for Sport said on Wednesday. Queiroz was suspended by the Portuguese anti
Published 24 Mar, 2011 12:00am
ICC issues rebuke for 'false' corruption reports

ICC issues rebuke for 'false' corruption reports

The International Cricket Council has taken the rare move of rebuking an Indian newspaper for publishing "misleading and downright false" reports of match fixing at the World Cup. ICC chief executive Haroon Lorgat issued a statement Wednesday naming a cor
Published 24 Mar, 2011 12:00am
ICC defends staging final in low-capacity Wankhede venue

ICC defends staging final in low-capacity Wankhede venue

ICC chief Haroon Lorgat defended the decision to stage the World Cup final in Mumbai's Wankhede Stadium, saying it would provide the perfect setting for the city's favourite son Sachin Tendulkar to script a "fairytale" ending. Choosing the arena for the f
Published 24 Mar, 2011 12:00am
Pakistan crush West Indies to reach semi-finals

Pakistan crush West Indies to reach semi-finals

Skipper Shahid Afridi led from the front as formidable Pakistan crushed the West Indies by 10 wickets to reach the World Cup semi-finals for the first time since 1999 on Wednesday. Afridi spearheaded a spin assault on the flat-footed West Indies batsmen w
Published 24 Mar, 2011 12:00am
New York cotton settles lower

New York cotton settles lower

US cotton futures settled lower Wednesday on investor profit-taking as the failure to extend the market's advance prompted players to liquidate positions in fibre contracts, analysts said. The key May cotton contract on ICE Futures US fell 4.09 cents to e
Published 24 Mar, 2011 12:00am
US copper rises

US copper rises

Copper rose on Tuesday as worries about Japan's nuclear crisis eased and the dollar fell, although rising stockpiles of the metal and weak Chinese demand kept a lid on prices. On New York's COMEX, benchmark copper for May delivery settled up 2.70 cents, o
Published 24 Mar, 2011 12:00am
Shanghai copper gains

Shanghai copper gains

Copper prices rose in London and Shanghai on Wednesday after bullish comments from mining executives on the metal's outlook, but gains were checked by near-term worries about Chinese demand and geopolitical tension in the Middle East and North Africa. Sha
Published 24 Mar, 2011 12:00am
Copper rises two percent: Aluminium hits 2-1/2 year high

Copper rises two percent: Aluminium hits 2-1/2 year high

Copper rose over 2 percent to a two-week high on Wednesday as investors focused on risk and zeroed in on metals with brightening fundamentals, which also included aluminium and lead. Benchmark copper on the London Metal Exchange closed at $9,727 a tonne,
Published 24 Mar, 2011 12:00am
US crude oil settles at 2-1/2 year high

US crude oil settles at 2-1/2 year high

US crude ended at a 2-1/2 year high on Wednesday as Palestinian rocket strikes on Israel escalated Middle East geopolitical risks and US gasoline inventories posted the biggest seasonal decline on record. US crude futures for May delivery settled at $105.
Published 24 Mar, 2011 12:00am
Tokyo rubber flat

Tokyo rubber flat

The benchmark Tokyo rubber contract ended flat on Wednesday as profit-taking emerged after a jump early in the session, but prices were still supported by tight supply in producing countries, dealers said. The benchmark rubber contract on the Tokyo Commod
Published 24 Mar, 2011 12:00am
New York sugar tumbles

New York sugar tumbles

Sugar prices fell sharply on Tuesday on news India has allowed 500,000 tonnes of unrestricted exports, while arabica coffee declined further from a recent 34-year peak and appeared poised to move lower. Cocoa futures were firm, with the US market feeling
Published 24 Mar, 2011 12:00am
Malaysian palm oil flat

Malaysian palm oil flat

Malaysian palm oil ended almost flat on Wednesday with the market split between higher output prospects this month and firmer crude oil markets that rose on concerns over Middle East supply disruptions. "If crude continues to go up, palm oil will get supp
Published 24 Mar, 2011 12:00am
Liffe sugar lower

Liffe sugar lower

Liffe May white sugar falls $12.50 to close at $687.90 a tonne on Wednesday. An improving supply outlook has contributed to recent setback in prices after India allowed 500,000 tonnes of unrestricted exports and the Thai harvest exceeded expectations.
Published 24 Mar, 2011 12:00am
US soyabeans down

US soyabeans down

Chicago Board of Trade soyabean futures closed weak on Tuesday, pressured by a downturn in corn as rumours of a US corn sale to China have not been confirmed. Soyabean also pressured by profit-taking following the big recovery bounce in the market late la
Published 24 Mar, 2011 12:00am
US gold little changed

US gold little changed

Gold was little changed on Tuesday as interest-rate hike worries prompted the market to take a breather, but Western air strikes on Libya and escalating political unrest in other Arab countries underpinned safe-haven demand. Gold trimmed initial gains, fo
Published 24 Mar, 2011 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold prices steadied on Wednesday, as escalating unrest in the Middle East and North Africa underpinned safe-haven demand, but a modest rebound in the dollar could weigh on the sentiment as fears on Japan's nuclear crisis eased. Spot gold was little chang
Published 24 Mar, 2011 12:00am
Gold climbs, silver at 31-year high in London

Gold climbs, silver at 31-year high in London

Gold on Wednesday hit its highest since early March and silver struck a 31-year peak as investors sheltered in precious metals from weak data, Middle East unrest and a key vote threatening Portugal's government. Spot gold was bid at $1,439.44 a troy ounce
Published 24 Mar, 2011 12:00am
US MIDDAY: coffee down

US MIDDAY: coffee down

Arabica coffee futures closed down on Wednesday, easing further away from a 34-year high touched earlier this month, while cocoa was little changed as an export ban in top grower Ivory Coast kept things at a standstill. Raw sugar volume dribbled lower on
Published 24 Mar, 2011 12:00am
US MIDDAY: wheat, corn and soya tumble

US MIDDAY: wheat, corn and soya tumble

US wheat futures were down 1 percent at midday on Wednesday as forecasts for beneficial rain and snow in the southern Plains improved crop prospects that have been dimmed by prolonged dry weather in the wheat belt. May corn was off 2-3/4 cents, or 0.4 per
Published 24 Mar, 2011 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

Copper prices climbed more than 2 percent on Wednesday to their highest level in two weeks, shrugging off dismal US housing data and rallying in tandem with broader industrial commodity strength. New York, May copper jumped 11.55 cents, or 2.7 percent, to
Published 24 Mar, 2011 12:00am
US MIDDAY: gold near record, silver tops $37

US MIDDAY: gold near record, silver tops $37

Gold rose to within a whisker of its all-time high on Wednesday, as record low US new home sales stirred talk of extended central banks' accommodative policies, and a possible collapse of Portugal's government rekindled eurozone debt worries.
Published 24 Mar, 2011 12:00am
Concern over limited functioning of DG PCA

Concern over limited functioning of DG PCA

The Directorate General of Intelligence and Investigation Federal Board of Revenue (FBR) has expressed concern over the limited functioning of the Directorate General of Post Clearance Audit (PCA), which is a key department to check tax frauds during clea
Published 24 Mar, 2011 12:00am
CCP recommends restoration of DSFL operations

CCP recommends restoration of DSFL operations

The Competition Commission of Pakistan (CCP) has strongly recommended that the operations of the Dewan Salman Fibres Ltd should be restored, as it holds about 40 percent of the total installed Polyester Staple Fibre (PSF) production capacity.
Published 24 Mar, 2011 12:00am
Setting up of Punjab Seed Registration, Testing Agency on the cards

Setting up of Punjab Seed Registration, Testing Agency on the cards

Punjab Government is contemplating to establish a 'Punjab Seed Registration and Testing Agency' under the proposed Punjab Seed Act 2011 in order to regulate and ensure the quality of seeds in the province. This agency will be a wing of the Punjab Seed Cou
Published 24 Mar, 2011 12:00am
Resolution of controversy on SRO 231 delayed until March 26

Resolution of controversy on SRO 231 delayed until March 26

Resolution of controversy relating to SRO 231 has been delayed until March 26 due to departure of the Federal Finance Minister Dr Hafeez Sheikh to Uzbekistan. It may be noted that the Federal Finance Minister was due to meet industry stakeholders on March
Published 24 Mar, 2011 12:00am
Nawaz, Shahbaz felicitate cricket team

Nawaz, Shahbaz felicitate cricket team

Pakistan Muslim League-Nawaz (PML-N) Chief Muhammad Nawaz Sharif and Chief Minister Punjab, Muhammad Shahbaz Sharif have congratulated the national cricket team and the nation on the victory against West Indies in quarter final match of the World Cup.
Published 24 Mar, 2011 12:00am
Sixth anniversary of Aaj News celebrated

Sixth anniversary of Aaj News celebrated

District administrator Mirpurkhas Ghulam Hussain Memon has said that Aaj News television has get the position for majority of its viewership on basis of its trusted and breaking news not only at country level but also at world level.
Published 24 Mar, 2011 12:00am
PSF industry: anti-dumping law needs to be strengthened: CCP

PSF industry: anti-dumping law needs to be strengthened: CCP

The Competition Commission of Pakistan (CCP) has recommended that the implementation of the anti-dumping law needs to be strengthened to safeguard the Polyester Staple Fibre (PSF) industry and tariff structure for the PSF industry should be carved to prov
Published 24 Mar, 2011 12:00am
Raymond Davis release: LHC CJ disposes of petitions

Raymond Davis release: LHC CJ disposes of petitions

Chief Justice (CJ) Lahore High Court held that foreign ministry, federal and Punjab governments were linking every thing relating Raymond' case to the trial court proceedings, therefore, petitions against him were disposed of accordingly. The CJ said this
Published 24 Mar, 2011 12:00am
Rocket misses Malir Cantt, hits mosque

Rocket misses Malir Cantt, hits mosque

Malir Cantonment escaped rocket attack launched early Tuesday by unknown militants from Dur-Muhammad Goth in the outskirts of Malir City. Militants, who intended to target Malir Cantonment, fired two rockets from Dur-Muhammad Goth, which hit the wall of J
Published 24 Mar, 2011 12:00am
Punjab government's financial position is sound: Khosa

Punjab government's financial position is sound: Khosa

Senior Advisor to Chief Minister Punjab, Sirdar Zulfiqar Ali Khan Khosa on Wednesday said that financial position of the PML-N led Punjab government is very sound, as "we are following strict financial discipline in every department." Khosa said that Punj
Published 24 Mar, 2011 12:00am
'Book selling no more a profitable business'

'Book selling no more a profitable business'

Books were previously the source of knowledge, information and enjoyment but now people need books only to pass exams, said Ismail Baloch, former general secretary of New Urdu Bazaar Welfare Association, here on Wednesday He said that previously book sell
Published 24 Mar, 2011 12:00am
Man kills soothe-healer

Man kills soothe-healer

A man stabbed to death a soothe-healer over suspicion of illicit relations with his wife here on Wednesday. According to Kabula police, Rehmat Ali of Chak Luqman-Miruka had suspicion on a soothe-healer Jaffar Shah for developing relations with his wife. O
Published 24 Mar, 2011 12:00am
Daylight robberies in minibuses

Daylight robberies in minibuses

Daylight robberies in minibuses on most busy roads in Karachi, particularly in the limits of Shah Lateef Town police station, have become a common factor in Karachi, putting the lives of law-abiding and peaceful citizens at risk. On Thursday, March 17 at
Published 24 Mar, 2011 12:00am
Mixed reaction to Afghan security handover

Mixed reaction to Afghan security handover

President Hamid Karzai's announcement that Afghan forces will take charge of security from coalition troops in seven towns and regions met with a mixed response Tuesday. While some analysts called the decision symbolic and premature, residents welcomed th
Published 24 Mar, 2011 12:00am
VIEW POINT: Intervention in Libya

VIEW POINT: Intervention in Libya

As UN Secretary-General Ban Ki-moon came out of a meeting with the Arab League chief Amr Mousa on Monday, angry Egyptians tried to block his way protesting Western intervention in Libya. They protested not for lack of sympathy for the Libyans fighting for
Published 24 Mar, 2011 12:00am
President's address to Parliament

President's address to Parliament

The President in his speech to the joint session of parliament highlighted the need for a 'national consensus' on five major issues namely (i) energy shortage, (ii) circular debt, (iii) taxation reforms, (iv) restructuring of public sector entities, and (
Published 24 Mar, 2011 12:00am
All measures being taken to improve law, order: Sindh chief minister

All measures being taken to improve law, order: Sindh chief minister

Sindh Chief Minister Syed Qaim Ali Shah said that provincial government was taking all measures to improve the law and order situation not only in Karachi but across the province. He was talking to newsmen after laying floral wreath and to pay homage to t
Published 24 Mar, 2011 12:00am
Sindh Governor gives awards to 22 persons

Sindh Governor gives awards to 22 persons

Governor Sindh, Dr Ishratul Ibad Khan conferred national awards to 22 persons for their outstanding achievements in their respective fields on behalf of President Asif Ali Zardari here on Wednesday in connection with Pakistan Day celebrations at Governor
Published 24 Mar, 2011 12:00am
US stands by Pakistan, says Clinton

US stands by Pakistan, says Clinton

Secretary of State Hillary Clinton has told the people of Pakistan that the United States backed their efforts to strive for a more peaceful and prosperous country. "As you celebrate Pakistan Day, know that the United States stands with you," she said in
Published 24 Mar, 2011 12:00am
Corps Commander confers Military awards

Corps Commander confers Military awards

Corps Commander, Lieutenant General Muhammad Zahir-ul-Islam conferred awards upon various military officers and Shuhadas in a simple but graceful ceremony, held at Corps Auditorium here on Wednesday. The officers were given Tamgha-e-Imtiaz (military) and
Published 24 Mar, 2011 12:00am
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