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Print - 2011-03-29
Vettori eyes bigger things after semi-final

Vettori eyes bigger things after semi-final

Skipper Daniel Vettori said New Zealand must make their semi-final against Sri Lanka on Tuesday a starting point for bigger achievements in international cricket. The Black Caps have never progressed beyond the World Cup semi-finals in five previous attem
Published 29 Mar, 2011 12:00am
Iraq violence kills 13

Iraq violence kills 13

A spate of unrelated attacks around Iraq killed 13 people, including seven in the northern city of Mosul and four during a jewellery heist in Baghdad, police and other sources said on Monday. Overnight, gunmen stormed into a notorious and poor district of
Published 29 Mar, 2011 12:00am
Angry protestors clash with police in Mohali

Angry protestors clash with police in Mohali

Angry protestors hurled stones and clashed with police outside the Punjab Cricket Association Stadium on Monday in the runup to Wednesday's India-Pakistan Cricket World Cup semi-final. Baton-wielding police and security forces on horseback tried to push b
Published 29 Mar, 2011 12:00am
Tight-squeeze Mohali to throw open doors for fans

Tight-squeeze Mohali to throw open doors for fans

Residents of Mohali, the venue for the World Cup semi-final between India and Pakistan, were Monday urged to throw open their homes to fans from both sides of the border. The sleepy northern town, located on the outskirts of Chandigarh, the capital of the
Published 29 Mar, 2011 12:00am
Shoaib Akhtar wants Pakistan to beat India

Shoaib Akhtar wants Pakistan to beat India

Pakistan's menacing fast bowler, Rawalpindi Express, Shoaib Akhtar says he "wants his team to win" cricket World Cup's semi-final match against arch rivals India. "Never mind if I play or not, what matters is victory. We have great chances to win," Akhtar
Published 29 Mar, 2011 12:00am
EFU General win IAP Cricket Cup

EFU General win IAP Cricket Cup

An inter-companies cricket tournament was organised by the Insurance Association of Pakistan (IAP) at DHA Sports Club (Moin Khan Academy) DHA phase VIII, Karachi. The tournament commenced on 5th March and 16 insurance companies participated in the event.
Published 29 Mar, 2011 12:00am
Gul says scandal has made team stronger

Gul says scandal has made team stronger

Team unity has helped Pakistan recover from last year's spot-fixing scandal and qualify for the World Cup semi-finals, Pakistan pace bowler Umar Gul said on Monday. Three Pakistan players have been banned for a minimum of five years each after manipulatin
Published 29 Mar, 2011 12:00am
Pakistan Squash Circuit-I tournament begins

Pakistan Squash Circuit-I tournament begins

Pakistan International Squash Circuit-I tournament, under the aegis of Pakistan Squash Federation (PSF), and in collaboration with Capital Development Authority (CDA), commenced here at Mushaf Squash Complex. The tournament has a prize purse of US $10,000
Published 29 Mar, 2011 12:00am
Partners Bopanna, Aisam divided by Indo-Pak clash

Partners Bopanna, Aisam divided by Indo-Pak clash

India's Rohan Bopanna and his Pakistani tennis doubles partner Aisam-Ul-Haq Qureshi insisted on Monday that the World Cup semi-final between their two nations will not shatter their friendship. Bopanna and Qureshi, who have used their on-court careers to
Published 29 Mar, 2011 12:00am
Afridi accuses Indian media of negative campaign

Afridi accuses Indian media of negative campaign

Pakistan captain Shahid Afridi accused the Indian media on Monday of conducting a negative campaign against his team before Wednesday's eagerly anticipated World Cup semi-final in Mohali. "There is so much negativity in the Indian media. There is nothing
Published 29 Mar, 2011 12:00am
Pakistan to appear in Turkey's Youth WC Qualifier

Pakistan to appear in Turkey's Youth WC Qualifier

Pakistan is going to make attempt to earn slot in Turkey's 19th World U-20 Cup 2013 when they will face Asian teams in 37th AFC U-19 Championship. The players born on or after 1 January 1993 will be eligible to play in the event, slated to run from 1-12 N
Published 29 Mar, 2011 12:00am
Sri Lanka meet New Zealand in semis today

Sri Lanka meet New Zealand in semis today

Sri Lanka skipper Kumar Sangakkara has admitted that even a half-fit Muttiah Muralitharan could be risked in Tuesday's World Cup semi-final against New Zealand. While his counterpart Daniel Vettori said New Zealand must make their semi-final against Sri L
Published 29 Mar, 2011 12:00am
Sri Lanka meet New Zealand in semis today

Sri Lanka meet New Zealand in semis today

Sri Lanka skipper Kumar Sangakkara has admitted that even a half-fit Muttiah Muralitharan could be risked in Tuesday's World Cup semi-final against New Zealand. While his counterpart Daniel Vettori said New Zealand must make their semi-final against Sri L
Published 29 Mar, 2011 12:00am
Suicide bombers kill 24 in Afghanistan

Suicide bombers kill 24 in Afghanistan

Three suicide bombers killed 24 people and wounded dozens more in an attack on a construction firm in Afghanistan's restive south-east, government officials said on Monday, with the Taliban claiming responsibility for the assault. The attackers forced the
Published 29 Mar, 2011 12:00am
Shaun Tait retires from ODIs

Shaun Tait retires from ODIs

Australia fast bowler Shaun Tait on Monday announced his retirement from One-day cricket to concentrate on the Twenty20 form of the game. Tait, 28, who has just returned from the World Cup on the subcontinent, said he will step down from the national and
Published 29 Mar, 2011 12:00am
Bangladesh recall Mortaza after World Cup flop

Bangladesh recall Mortaza after World Cup flop

Bangladesh selectors on Monday recalled fast bowler Mashrafe Mortaza for next month's one-day series against Australia after he missed the World Cup with a knee injury. Mortaza, 27, who has 145 wickets in 116 one-day internationals, watched from the sidel
Published 29 Mar, 2011 12:00am
Nikkei average slips

Nikkei average slips

The Nikkei average nudged lower on Monday after reports of soaring radiation levels at a damaged nuclear plant, with the benchmark tethered in a narrow range for over a week, supported by ex-dividend date buying and bargain-hunting by foreigners and short
Published 29 Mar, 2011 12:00am
Japan corporate funding demand soars after disaster-Nikkei

Japan corporate funding demand soars after disaster-Nikkei

Japanese companies' demand for funding has soared since the March 11 earthquake and tsunami, both in terms of new loan requests from the country's top three banks and commercial paper issues, Nikkei newspaper reported on Sunday.
Published 29 Mar, 2011 12:00am
South Korea second quarter exports seen weighed down by uncertainty

South Korea second quarter exports seen weighed down by uncertainty

As uncertainties driven by high oil prices and Japan's devastating earthquake raise anxiety, South Korean exporters see their businesses turn bearish in the second quarter, private sector data showed on Sunday. The findings by the country's top associatio
Published 29 Mar, 2011 12:00am
BoE's Posen says inflation to drop in 2012

BoE's Posen says inflation to drop in 2012

Bank of England policymaker Adam Posen was quoted as saying on Monday that inflation would drop to 1.5 percent by mid-2012 as the government's austerity drive and a weak economy would lead to a decline in consumer spending.
Published 29 Mar, 2011 12:00am
Bangladesh tenders to buy sugar

Bangladesh tenders to buy sugar

A state buyer in Bangladesh has issued an international tender to purchase and import 25,000 tonnes of sugar, European traders said on Monday. The bidding deadline in the tender from the Bangladesh Sugar and Food Industries Corporation is Apr. 23.
Published 29 Mar, 2011 12:00am
Brazil defends economic policy; IMF stresses basics

Brazil defends economic policy; IMF stresses basics

Brazil on Sunday defended its unorthodox strategies to cool its economy as the International Monetary Fund cautioned Latin America not to forget its basic tool for fighting inflation: the cost of money. Central bankers mainly use interest rates to guide a
Published 29 Mar, 2011 12:00am
Inflation risk up; rates: to rise: Thai central bank chief

Inflation risk up; rates: to rise: Thai central bank chief

The Bank of Thailand said on Monday inflation risk was rising fast and interest rates would continue to be normalised gradually, supporting market expectations that rates would rise again next month. Governor Prasarn Trairatvorakul told reporters the cent
Published 29 Mar, 2011 12:00am
Philippines says more difficult to meet 2011 growth garget

Philippines says more difficult to meet 2011 growth garget

The Philippine government's growth target this year of 7 to 8 percent may be more difficult to achieve after the disaster in Japan and with the turmoil in the Middle East, a presidential spokesperson said. "When we came up with the 7 to 8 percent economic
Published 29 Mar, 2011 12:00am
Tokyo Gas diverts LNG to quake-hit TEPCO

Tokyo Gas diverts LNG to quake-hit TEPCO

Tokyo Gas Co , Japan's biggest city gas supplier, said on Monday it has diverted an unspecified volume of liquefied natural gas (LNG) to Tokyo Electric Power Co to make up for the lost output from two nuclear plants after a massive quake on March 11. A To
Published 29 Mar, 2011 12:00am
Thai firm offers low bid in Bangladesh rice tender

Thai firm offers low bid in Bangladesh rice tender

Chaiyaporn Rice and Food Products Company Ltd, one of Thailand's major rice exporters, made the lowest offer at $508.40 a tonne, including cost, insurance and freight, in a Bangladesh tender to import 50,000 tonnes of parboiled rice, a food official said
Published 29 Mar, 2011 12:00am
New York cotton settles limit down

New York cotton settles limit down

US cotton futures closed the daily limit down on Monday due to light investor sales as players began positioning themselves before release of a key government plantings report this week, analysts said. The key May cotton contract on ICE Futures US dropped
Published 29 Mar, 2011 12:00am
US MIDDAY: corn, soya and wheat slip

US MIDDAY: corn, soya and wheat slip

US corn futures fell about 1.5 percent on Monday on light profit taking in the absence of government confirmation of new corn sales to China, which was believed to have bought 1.25 million tonnes last week. Soybean acreage was estimated at 76.87 million,
Published 29 Mar, 2011 12:00am
US MIDDAY: sugar slips

US MIDDAY: sugar slips

Sugar futures closed lower on Monday, as top producer Brazil began its harvest, while cocoa finished firm as violent conflict mounted in Ivory Coast. Coffee prices were lower, with selling largely driven by bearish technical indicators, even as many sat o
Published 29 Mar, 2011 12:00am
Gold pares losses in European trade

Gold pares losses in European trade

Gold pared losses on Monday as the dollar ceded ground to the euro, after the precious metal earlier fell more than 1 percent, but it remained under pressure as impetus from unrest in the Middle East petered out. Spot gold was bid at $1,417.00 at 1404 GMT
Published 29 Mar, 2011 12:00am
Gold inches lower in Asia

Gold inches lower in Asia

Gold prices inched lower on Monday, weighed down by a firmer dollar, but violent unrest in the Middle East as well as an unfolding nuclear crisis in Japan lent support. The dollar index firmed slightly, aided by hawkish comments from some US Federal Reser
Published 29 Mar, 2011 12:00am
Liffe cocoa up on Ivory Coast conflict

Liffe cocoa up on Ivory Coast conflict

Liffe July cocoa ends 8 pounds higher at 2,113 pounds a tonne on Monday. Market supported by heavy fighting in a cocoa-producing area of western Ivory Coast. Liffe May white sugar falls $10.20 to close at $701.60 a tonne. An improving outlook for the harv
Published 29 Mar, 2011 12:00am
Malaysian palm oil rises

Malaysian palm oil rises

Malaysian palm oil futures rose more than 1 percent before partly reversing gains on Monday, with sentiment driven by comparative vegetable oils, although many investors expected downward price pressure in the coming months. "The market is holding firm on
Published 29 Mar, 2011 12:00am
Tokyo rubber futures hit 1-week low

Tokyo rubber futures hit 1-week low

Tokyo rubber futures dropped to their lowest in more than a week on Monday as worries about falling demand spurred selling, but erratic weather in Southeast Asia could offer support in coming days. The new benchmark rubber contract on Tokyo Commodity Exch
Published 29 Mar, 2011 12:00am
Crude falls in lowest volume of the year

Crude falls in lowest volume of the year

US crude fell on Monday for a third day in the lowest trading volume of the year, as Libyan rebels regained key territory and redoubled efforts to resume oil exports from the Opec country. Oil seesawed during the day on a weakening US dollar, upbeat US pe
Published 29 Mar, 2011 12:00am
Copper prices stumble

Copper prices stumble

Copper prices stumbled on Monday as renewed worries about Japan's crisis, weak demand from top consumer China and rising stocks persuaded investors to retreat from assets perceived to be risky. The benchmark copper contract on the London Metal Exchange cl
Published 29 Mar, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

Copper prices fell in London on Monday, paring last week's 1.8 percent rise and Shanghai also dipped, tracking losses in equity markets and pressured by fresh worries about near-term Chinese demand for industrial raw materials. Shanghai's most-active copp
Published 29 Mar, 2011 12:00am
US MIDDAY: copper tumbles

US MIDDAY: copper tumbles

Copper suffered its biggest one-day loss in about three weeks on Monday, as concerns about sustained softness in Chinese buying and rising inventory levels continued to hold investment demand back.
Published 29 Mar, 2011 12:00am
Japan finds plutonium at stricken nuclear plant

Japan finds plutonium at stricken nuclear plant

Plutonium found in soil at the crippled Fukushima nuclear complex heightened alarm on Tuesday over Japan's lengthy battle to contain the world's worst atomic crisis in 25 years. Plant operator Tokyo Electric Power Co (TEPCO) said the radioactive material,
Published 29 Mar, 2011 12:00am
IAEA calls nuclear safety summit

IAEA calls nuclear safety summit

The UN atomic energy chief called a Vienna summit to tackle mounting concerns about nuclear safety, saying on Monday the international community needed a co-ordinated response in the wake of Japan's crisis. Japan is struggling to avert a severe meltdown a
Published 29 Mar, 2011 12:00am
Top Bangladesh politician arrested over war crimes

Top Bangladesh politician arrested over war crimes

Bangladesh has arrested a leading opposition politician after he was named a suspect in a war crimes investigation into the country's 1971 struggle, police said Monday. Abdul Alim was detained in north-western Joypurhat district late Sunday on the orders
Published 29 Mar, 2011 12:00am
Blasts at Yemen bullet factory kill at least 110

Blasts at Yemen bullet factory kill at least 110

A series of blasts at a bullet factory in south Yemen killed at least 110 people on Monday when residents broke in to steal ammunition a day after clashes between militants and the army in the town, doctors said. Witnesses said the blasts, possibly trigge
Published 29 Mar, 2011 12:00am
Russia says willing to open dialogue with Taliban

Russia says willing to open dialogue with Taliban

Russia said on Monday it was open to dialogue with the Taliban in Afghanistan, Interfax reported, echoing the US position aimed at ensuring regional stability as Washington prepares to pull out its troops. Russia fears the withdrawal of 100,000 US troops,
Published 29 Mar, 2011 12:00am
Egyptian parliamentary polls set for September: army

Egyptian parliamentary polls set for September: army

Egypt will hold its first parliamentary election since the fall of president Hosni Mubarak in September and the decades-long state of emergency will be lifted for the polls, the country's military rulers said on Monday. But no date has yet been decided fo
Published 29 Mar, 2011 12:00am
India behind bomb attacks: Nepal

India behind bomb attacks: Nepal

Nepalese security officials accused India of being behind a series of bomb blasts across Nepal's Tarai belt, saying the attacks were a bid to undermine the current communist-led government, it was reported Monday in Kathmandu. "These incidents may have be
Published 29 Mar, 2011 12:00am
Afghan former minister arrested over graft case

Afghan former minister arrested over graft case

Afghanistan's former transport minister was arrested on Monday on charges of misusing public funds in a corruption case that cost the government more than $9 million, an official said. Inayatullah Qasimi, who was appointed minister in 2004 and served for
Published 29 Mar, 2011 12:00am
Pirates hijack oil tanker off East Africa

Pirates hijack oil tanker off East Africa

Pirates in two skiffs fired rocket-propelled grenades and guns at an oil tanker off East Africa before boarding the vessel and hijacking it, naval officials said Monday. The United Arab Emirates-flagged Zirku was travelling from Sudan to Singapore when it
Published 29 Mar, 2011 12:00am
Rebels push west before Libya crisis talks

Rebels push west before Libya crisis talks

Rebels advanced west towards the birthplace of Libyan leader Muammar Gaddafi on Monday, firing mortars and heavy machineguns in sporadic clashes with loyalist forces. Emboldened by Western-led air strikes against Gaddafi's troops, the rebels took the town
Published 29 Mar, 2011 12:00am
Election of Kosovo president illegal

Election of Kosovo president illegal

The election of Kosovo's president last month was unconstitutional, Kosovo's highest court ruled on Monday after an opposition party filed a complaint citing irregularities during the vote. Opposition parliamentarians said irregularities marred the voting
Published 29 Mar, 2011 12:00am
More countries now executing convicts: Amnesty

More countries now executing convicts: Amnesty

Amnesty International says the number of countries executing convicts rose to 23 in 2010. That's four more countries than in 2009, which saw the lowest number of countries impose the death penalty since the 50-year-old organisation began keeping statistic
Published 29 Mar, 2011 12:00am
Raymond Davis case: LHC moved for recovery of victims' families

Raymond Davis case: LHC moved for recovery of victims' families

Lahore High Court here Monday called for reply from the federal government by April 1 in a habeas corpus petition filed for the recovery of families of Faizan and Faheem killed by Raymond Davis as Punjab government said all information in this regard is l
Published 29 Mar, 2011 12:00am
Afghanistan agrees to break up fraud-hit bank: diplomats

Afghanistan agrees to break up fraud-hit bank: diplomats

Under threat of the loss of support from the International Monetary Fund (IMF) and billions of dollars of aid, the Afghan government has agreed to break up Afghanistan''s biggest private lender after a multi-million dollar fraud scandal.
Published 29 Mar, 2011 12:00am
'Mubarak and family under house arrest'

'Mubarak and family under house arrest'

Ousted president Hosni Mubarak and his family are under house arrest, Egypt's Supreme Council of the Armed Forces said on its website Monday, denying that the former leader had fled to Saudi Arabia. "There is no truth to reports that former president Hosn
Published 29 Mar, 2011 12:00am
'Mubarak and family under house arrest'

'Mubarak and family under house arrest'

Ousted president Hosni Mubarak and his family are under house arrest, Egypt's Supreme Council of the Armed Forces said on its website Monday, denying that the former leader had fled to Saudi Arabia. "There is no truth to reports that former president Hosn
Published 29 Mar, 2011 12:00am
PIA posts highest revenue in history

PIA posts highest revenue in history

PIA's 331st Board of Directors meeting was held on Monday at PIA Head Office here. Board approved the financial statements for the FY 2010. PIA posted highest revenue in its history despite unfavourable economic and security situation. The total revenue e
Published 29 Mar, 2011 12:00am
PIA posts highest revenue in history

PIA posts highest revenue in history

PIA's 331st Board of Directors meeting was held on Monday at PIA Head Office here. Board approved the financial statements for the FY 2010. PIA posted highest revenue in its history despite unfavourable economic and security situation. The total revenue e
Published 29 Mar, 2011 12:00am
PIA posts highest revenue in history

PIA posts highest revenue in history

PIA''s 331st Board of Directors meeting was held on Monday at PIA Head Office here. Board approved the financial statements for the FY 2010. PIA posted highest revenue in its history despite unfavourable economic and security situation. The total revenue
Published 29 Mar, 2011 12:00am
Senate demands US to bring Terry Jones to justice

Senate demands US to bring Terry Jones to justice

Translating smouldering emotions emanated from desecration of the Holy Quran by an American pastor into a unanimous resolution, the Senate on Monday demanded of the US to bring the perpetrator to justice, while sensitising the United Nations (UN) over the
Published 29 Mar, 2011 12:00am
Senate demands US to bring Terry Jones to justice

Senate demands US to bring Terry Jones to justice

Translating smouldering emotions emanated from desecration of the Holy Quran by an American pastor into a unanimous resolution, the Senate on Monday demanded of the US to bring the perpetrator to justice, while sensitising the United Nations (UN) over the
Published 29 Mar, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 29 Mar, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 29 Mar, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 29 Mar, 2011 12:00am
Supreme Court directs to accelerate repairing of embankments

Supreme Court directs to accelerate repairing of embankments

The Supreme Court Monday directed chief secretaries of Balochistan and Sindh to accelerate repairing of embankments damaged during devastating floods which caused havoc last year. They have also been directed to rehabilitate Kirthar canal and other water
Published 29 Mar, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 29 Mar, 2011 12:00am
Two holidays in a week, likely by mid April

Two holidays in a week, likely by mid April

The government is giving serious consideration to opt for 'two holidays a week' as a part of energy conservation plan being implemented by mid April. The government had earlier annulled the decision of 'two holidays a week' on November 27, 2010.
Published 29 Mar, 2011 12:00am
Frequent rise in prices of lube base oil condemned

Frequent rise in prices of lube base oil condemned

Chairman, All Pakistan Lubricants Manufacturers Association (APLMA) Zahid has warned that the trend of frequent increase in prices of lube base oil by refineries will force the lubricant manufacturers to shut down their business. Mian Zahid Husain while c
Published 29 Mar, 2011 12:00am
President LCCI leaves for China

President LCCI leaves for China

President, Lahore Chamber of Commerce & Industry (LCCI), Shahzad Ali Malik has left for China to attend 'China Bio-Agriculture Industry Summit'. In the absence of Shahzad Malik, the LCCI's Senior Vice-President Sheikh Muhammad Arshad will perform as actin
Published 29 Mar, 2011 12:00am
'Haqqani to continue with his post'

'Haqqani to continue with his post'

Foreign Office on Monday clarified that Ambassador Hussain Haqqani will continue with his post at Washington. In response to media reports regarding the replacement of Haqqani with another senior politician, the Foreign Office spokesperson termed these as
Published 29 Mar, 2011 12:00am
Old, used cars' import: depreciation increased from 50 to 60 percent

Old, used cars' import: depreciation increased from 50 to 60 percent

The Federal Board of Revenue (FBR) has increased the depreciation from 50 to 60 percent on the import of old and used cars. However, no change has been made in the depreciation for other types of vehicles. In this regard, the FBR has issued a customs gene
Published 29 Mar, 2011 12:00am
Country's oil import increases to 84 percent in fiscal year 2010

Country's oil import increases to 84 percent in fiscal year 2010

The country's reliance on the expensive imported oil has increased to 84 percent of the total oil consumption in FY10 as compared to 82 percent and 81 percent in FY09 and FY08, respectively. The shift towards expensive imported oil has increased country's
Published 29 Mar, 2011 12:00am
NCCPL announces induction of Custodain Banks as CCM

NCCPL announces induction of Custodain Banks as CCM

The National Clearing Company of Pakistan Limited (NCCPL) has announced that the Custodian Banks, dealing with the custody and settlement of stock market trades of foreign clients, have now been inducted in the capacity of Custodian Clearing Member (CCM).
Published 29 Mar, 2011 12:00am
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