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Print - 2011-04-16
European stocks post weekly loss

European stocks post weekly loss

European stocks ended slightly higher on Friday, but posted their first weekly loss in a month as the return of worries over the eurozone debt crisis prompted investors to book recent lofty gains on peripheral equities. Food and beverage stocks featured a
Published 16 Apr, 2011 12:00am
Hong Kong, China shares weak

Hong Kong, China shares weak

Hong Kong shares traded lower on Friday morning, on track to post their first weekly loss in four, with sluggish performance in property counters and other large caps suggesting weakness could spill over into next week. China shares were also ended lower
Published 16 Apr, 2011 12:00am
Defensives lift FTSE, M&A talk boosts tobaccos

Defensives lift FTSE, M&A talk boosts tobaccos

Drugmakers and tobacco stocks led a defensive rally that enabled Britain's top share index to close higher on Friday. The FTSE 100 closed up 32.21 points, or 0.5 percent, at 5,996.01, but failed to break above 6,000 after London's blue chips hit a two-wee
Published 16 Apr, 2011 12:00am
Yuan slips

Yuan slips

The yuan ended slightly lower against the dollar on Friday after hitting another record intraday high, with the People's Bank of China fixing the mid-point at an all-time peak amid intensifying inflationary pressures. China's turbo-charged growth eased ju
Published 16 Apr, 2011 12:00am
Sterling rises versus euro

Sterling rises versus euro

Sterling rose against the euro on Friday as the single currency was hurt by concerns about problems on the periphery of the eurozone and the possibility of a debt restructuring in Greece. The euro's falls were limited, however, as it stayed supported by e
Published 16 Apr, 2011 12:00am
Euro dips in Asia

Euro dips in Asia

The euro dipped but stayed within sight of a 15-month peak against the dollar on Friday, with further losses expected to be limited given the diverging outlook for monetary policy in the eurozone and the United States. Not helping the dollar, several top
Published 16 Apr, 2011 12:00am
Euro slips in London

Euro slips in London

The euro fell on Friday after Moody's cut Ireland's rating to just above 'junk' status, keeping the single currency zone's debt problems in the limelight, though losses were likely to be offset by bids from sovereign buyers. Also helping cap losses was th
Published 16 Apr, 2011 12:00am
Midday trade in New York: Euro pressured by debt fears

Midday trade in New York: Euro pressured by debt fears

The euro fell on Friday after Moody's cut Ireland's rating to just above "junk" status, keeping eurozone debt problems in focus, though the currency was underpinned by expectations of more rate rises. In midday New York trading, the euro fell 0.4 percent
Published 16 Apr, 2011 12:00am
Dollar depreciates broadly in New York

Dollar depreciates broadly in New York

The dollar weakened across the board on Thursday, reaching a record low against the Swiss franc, with more losses likely as long as US Federal Reserve and European Central Bank policies continue to diverge. US economic numbers kept intact expectations the
Published 16 Apr, 2011 12:00am
Indian rupee strengthens

Indian rupee strengthens

The Indian rupee strengthened on Friday supported by strong dollar inflows which helped offset the impact of weak domestic shares and a faster-than-expected rise in March inflation. The partially convertible rupee ended at 44.3250/3350 per dollar, 0.4 per
Published 16 Apr, 2011 12:00am
Australian and New Zealand dollars up

Australian and New Zealand dollars up

The Australian and kiwi dollars held firm on Friday after China data shows strong growth, supporting the outlook for commodity prices, though markets were wary of US inflation figures due later in the day. The Australian dollar hovered around $1.0527, fro
Published 16 Apr, 2011 12:00am
Money markets resilient to Greek debt talk

Money markets resilient to Greek debt talk

European money markets are seen resilient for now in the face of growing talk of a potential restructuring of Greek government debt, but short-term rates could spike if such a move appeared imminent. Yields on government bonds issued by the most indebted
Published 16 Apr, 2011 12:00am
Swiss franc up versus euro

Swiss franc up versus euro

The Swiss franc ticked up against the euro on Friday after Moody's cut Ireland's sovereign rating by two notches to Baa3 and left the outlook negative. The franc was up 0.05 percent against the euro compared to the New York close, trading at 1.2924 per eu
Published 16 Apr, 2011 12:00am
Singapore dollar remains at record high

Singapore dollar remains at record high

The Singapore dollar hit a record high for a second day on Friday after the country's central bank allowed more appreciation, though it was vulnerable to near-term profit taking, especially if the rise in other Asian currencies slows. Accelerated apprecia
Published 16 Apr, 2011 12:00am
Vettel leads Red Bull charge in China

Vettel leads Red Bull charge in China

Formula One world champion Sebastian Vettel laid down a marker for his fifth win in a row by dominating both practice sessions for the Chinese Grand Prix on Friday. The 23-year-old Red Bull driver, who will be chasing his third victory of the season on Su
Published 16 Apr, 2011 12:00am
Na sets PGA Tour record

Na sets PGA Tour record

Kevin Na set a PGA Tour record for the highest score on a par-four hole when he needed 16 shots to finish the ninth hole at the Texas Open on Thursday. Na's nightmare is the highest score on a par-four since PGA Tour records for scorecards began in 1983.
Published 16 Apr, 2011 12:00am
Zulqarnain to return home

Zulqarnain to return home

Pakistan's run-away wicketkeeper Zulqarnain Haider will return home "soon", a private TV channel reported quoting his brother Aqeel Haider. "My brother met the Interior Minister of Pakistan, Rehman Malik, at his residence in London last week and was assur
Published 16 Apr, 2011 12:00am
Cricket South Africa president ousting unlawful: court

Cricket South Africa president ousting unlawful: court

A South African High Court on Friday ordered Cricket South Africa (CSA) to re-instate its president Mtutuzeli Nyoka, who was fired following a public feud with the organisation's chief executive. Nyoka took CSA to court after the organisation's members' f
Published 16 Apr, 2011 12:00am
Kallis, Gambhir power Kolkata to victory

Kallis, Gambhir power Kolkata to victory

Jacques Kallis and Gautam Gambhir hit impressive half-centuries to guide Kolkata Knight Riders to a nine-wicket win over Rajasthan Royals in the Indian Premier League on Friday. South African Kallis top-scored with a 65-ball 80 not out while skipper Gambh
Published 16 Apr, 2011 12:00am
Champions Italy travel to Russia for Fed Cup semis

Champions Italy travel to Russia for Fed Cup semis

Reigning champions Italy will start as underdogs against Russia this weekend when they meet for a place in this year's Fed Cup final on the hardcourts of Moscow's Megasport indoor arena. The two countries have dominated the premier women's team competitio
Published 16 Apr, 2011 12:00am
Russia tightens rule on home-grown players

Russia tightens rule on home-grown players

The Russian FA (RFU) has tightened the rule aimed at encouraging home-grown players after the coach of champions Zenit St Petersburg admitted breaking it on purpose. From now on, club officials face a one-year suspension for ignoring the rule, which oblig
Published 16 Apr, 2011 12:00am
Portugese trio reach Europa semi-finals

Portugese trio reach Europa semi-finals

Portuguese trio Porto, Benfica and Braga reached the Europa League semi-finals in contrasting styles as Europe's second-string club competition produced another goal feast on Thursday. Porto completed their demolition of Spartak Moscow by following up las
Published 16 Apr, 2011 12:00am
McIlroy roars to lead at Malaysian Open

McIlroy roars to lead at Malaysian Open

Rory McIlroy fired a second round eight-under-par 64 to soar joint top of the Malaysian Open on Friday, defying the jet-lag and exhaustion that nearly got the better of US Masters winner Charl Schwartzel. Both the players flew halfway across the globe fro
Published 16 Apr, 2011 12:00am
Barcelona v Real rivalry comes to the fore

Barcelona v Real rivalry comes to the fore

Barcelona and Real Madrid have had a bitter rivalry dating way back to 1902 and they are braced to face each other four times in an 18-day period that will define their respective seasons. Football fans around the globe will be treated to four instalments
Published 16 Apr, 2011 12:00am
Melzer beat Federer as Nadal wins in Monte Carlo

Melzer beat Federer as Nadal wins in Monte Carlo

Roger Federer was blown away 6-4 6-4 by Juergen Melzer in the Monte Carlo Masters quarter-finals but Rafa Nadal stormed through as the gap between the two great rivals widened further on Friday. While holder Nadal powered past Croat Ivan Ljubicic 6-1 6-3
Published 16 Apr, 2011 12:00am
Gas pipeline blown up in Loti

Gas pipeline blown up in Loti

Gas supply to a purification plant was suspended after unidentified miscreants blew up a pipeline in Loti area of the district, local police officials said Friday. According to reports, the miscreants had planted explosives with an 8-inch diameter pipelin
Published 16 Apr, 2011 12:00am
$2.6 billion goods exported to Saarc region in five years

$2.6 billion goods exported to Saarc region in five years

Goods worth $2.6 billion were exported to Saarc Region during last five years. An amount of $4.122 billion were spent on import of goods from India while goods worth $842 million were exported during the last three years. This information was provided by
Published 16 Apr, 2011 12:00am
Foreign loans amount to $57.968 billion: Hafeez tells National Assembly

Foreign loans amount to $57.968 billion: Hafeez tells National Assembly

Total amount of foreign outstanding loans as on February 28, 2011 was $57.968 billion. Total Public and Publicly Guaranteed Debt of 'A' (medium and long term) $44.687 billion and 'B' (short-term) categories was $892 million, giving a total of $45.579 bill
Published 16 Apr, 2011 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

The Human Rights Commission of Pakistan (HRCP) would have had tough time in compiling its annual report or to count heads, for statistical analysis, of those who were subjected to atrocities (kidnapped for ransom, tortured, politically victimised or targe
Published 16 Apr, 2011 12:00am
NAB to probe misuse of impounded vehicles

NAB to probe misuse of impounded vehicles

The executive board meeting of the National Accountability Bureau, Khyber Pakhtunkhwa has authorised two different inquires against the Excise and Taxation Department KP regarding misuse of impounded vehicles and corruption in motor vehicles registration
Published 16 Apr, 2011 12:00am
Terbela Dam reached dead level, National Assembly told

Terbela Dam reached dead level, National Assembly told

The National Assembly was informed on Friday that due to shortage of water the country's major reservoir Tarbela Dam has reached dead level due to which the power units were generating less electricity. Responding to a call attention notice, Minister for
Published 16 Apr, 2011 12:00am
PPP MNA cries for justice

PPP MNA cries for justice

The ruling Pakistan People's Party (PPP) MNA Nawab Yousuf Talpur sought justice for his son - MPA Nawab Munawar Talpur - against whom an FIR has been registered on murder charges by DCO Umerkot, Sindh. The matter, which was raised on a point of order by N
Published 16 Apr, 2011 12:00am
Foreign investment has improved, National Assembly told

Foreign investment has improved, National Assembly told

The overall profile of foreign investment has improved from $969.5 million (July-February 2009-10) to $1231.7 million (July-February 2010-11). Minister for Information and Broadcasting Dr Firdous Ashiq Awan said this while replying to a supplementary ques
Published 16 Apr, 2011 12:00am
Hearing of 18th Amendment case adjourned

Hearing of 18th Amendment case adjourned

The Supreme Court on Friday adjourned petitions challenging some clauses of 18th Amendment and fixed the hearing in 3rd week of May, subject to availability of the bench. The hearing, which was fixed for April 18, was adjourned due to NRO review case, alr
Published 16 Apr, 2011 12:00am
100 prominent businessmen to visit Tajikistan next month

100 prominent businessmen to visit Tajikistan next month

President Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Senator Haji Ghulam Ali is soon to lead a delegation of one hundred prominent businessmen and investors to Tajikistan. The visit is aimed at exploring business opportunities in Taji
Published 16 Apr, 2011 12:00am
Rs 26 million recovered from electricity defaulters

Rs 26 million recovered from electricity defaulters

Peshawar Electricity Supply Company (Pesco) has recovered an amount of rupees 26 million from the electricity defaulters and removed 1,555 direct connections during an operation for recovery and power theft in six division of the Peshawar Circle. 'Operati
Published 16 Apr, 2011 12:00am
Engro Foods signs contract with ORIX Leasing Pakistan

Engro Foods signs contract with ORIX Leasing Pakistan

Engro Foods Limited has signed a contract with ORIX Leasing Pakistan Limited for Engro Milk Automation Network (EMAN) in Multan. An award ceremony was also held to celebrate the successful implementation of EMAN across Punjab.
Published 16 Apr, 2011 12:00am
JUI-F stages protest rally in Chaman

JUI-F stages protest rally in Chaman

Jamiat Ulema-e-Islam Fazalur Rehman on Friday staged a rally in protest against the poor law in order situation in Chaman. Rally started from the Boghra road and after marching on main roads turned into huge public gathering at Shuhada Junction. Participa
Published 16 Apr, 2011 12:00am
Madiyan-Kalam Road: Khyber Pakhtunkhwa approves Rs 140 million

Madiyan-Kalam Road: Khyber Pakhtunkhwa approves Rs 140 million

Chief Minister Khyber Pakhtunkhwa Ameer Haider Khan Hoti has approved release of supplementary grant of Rs 140 million to Pakistan Army for reconstruction of Madiyan-Kalam Road. A large portion of the road was washed away in the last year devastated flood
Published 16 Apr, 2011 12:00am
Devolution of health ministry: high-level meeting today

Devolution of health ministry: high-level meeting today

Government has yet to decide whether to devolve the health ministry along with its crucial role including fixing drug prices, registration, quality control and licensing process to the provinces, it is learnt. The government has decided to devolve the hea
Published 16 Apr, 2011 12:00am
FAFEN launches fresh phase of STAEP programme

FAFEN launches fresh phase of STAEP programme

Free and Fair Election Network (FAFEN) in collaboration with The Asia Foundation (TAF) will strive for effective, transparent, and accountable governance through a complex, multi-pronged strategy, geared to enhance public engagement with elected, public a
Published 16 Apr, 2011 12:00am
Supreme Court strikes down CDA agreement

Supreme Court strikes down CDA agreement

The Supreme Court on Friday struck down a joint venture agreement of the Capital Development Authority (CDA) with Multi-Professional Co-operative Housing Society (MPCHS), for developing 54 acres land in northern strip of sector E-11 of capital.
Published 16 Apr, 2011 12:00am
Daylight saving

Daylight saving

The government wants to put forward the clocks again this year. With a huge uneducated population this leads to confusion throughout the country. A better method is to change all office, school, factory, government, bank, ie all office/factory etc timings
Published 16 Apr, 2011 12:00am
Oil prices

Oil prices

I would like to draw your kind attention towards the government advertisement regarding oil prices. It has given the comparison of a few oil-importing countries' petrol prices in PKR, which are reproduced below: Pakistan 83 (some change); India 110 (some
Published 16 Apr, 2011 12:00am
Sarawak's graft-tainted 'White Rajah' defiant ahead of polls

Sarawak's graft-tainted 'White Rajah' defiant ahead of polls

The man who has been at the helm of Malaysia's eastern state of Sarawak for more than three decades is deeply loved in rural areas despite garnering notoriety and hatred in urban centres for allegations of corruption, embezzlement and the pillaging of the
Published 16 Apr, 2011 12:00am
Mini-budget of Rs 52 billion: mid-year tax measures

Mini-budget of Rs 52 billion: mid-year tax measures

Presidential ordinances instead of the acts of the parliament The government is using all the means at its disposal to mop up cash resources from whatever source it finds including heavy bank borrowings including the printing of currency notes to the dism
Published 16 Apr, 2011 12:00am
Freeloaders in economy

Freeloaders in economy

There is no theory from the west that has emerged as to what to do when there are freeloaders in a society. Freeloaders are persons/institutes that tell a lie to take benefit from the government or the country even if they have to tell a lie. They are usu
Published 16 Apr, 2011 12:00am
New Hajj policy

New Hajj policy

The federal cabinet approved new Hajj policy on Wednesday, making some significant changes in the old system. Religious Affairs Minister Khurshid Shah, later told a news conference that it has been decided to do away with the balloting system. Application
Published 16 Apr, 2011 12:00am
How to eliminate circular debt: fresh proposals

How to eliminate circular debt: fresh proposals

Circular debt remains a serious impediment to ensuring that the country's electricity generational capacity is fully utilised. Around two-thirds of Pakistan's total generational capacity of 18,500 MW - 12,500 MW - is generated from furnace oil and natural
Published 16 Apr, 2011 12:00am
Transformation strategy: HBFCL employees show unprecedented support

Transformation strategy: HBFCL employees show unprecedented support

In an extraordinary step taken by the House Building Finance Company Ltd (HBFCL) management, the HBFCL held its first annual all staff general meeting with a twofold agenda to celebrate the success of the organisation's first year of profit since its corp
Published 16 Apr, 2011 12:00am
Opposition submits requisition for Punjab Assembly session

Opposition submits requisition for Punjab Assembly session

A requisition for convening Punjab Assembly session was submitted here on Friday in the assembly secretariat by the opposition. The previous session was also requisitioned by the opposition. Deputy Speaker Rana Mushood who was chairing the last session pr
Published 16 Apr, 2011 12:00am
Call to streamline duty structure of police officials

Call to streamline duty structure of police officials

Inspector General of Police (IGP) Islamabad, Wajid Ali Durrani has stressed the need for streamlining the duty structure of the police officials to boost their performance and to purge the city from criminals. Top Police Officers should take care of their
Published 16 Apr, 2011 12:00am
Moderates demands justice for Airblue crash victims

Moderates demands justice for Airblue crash victims

Nearly nine months have passed since the biggest air crash tragedy in Pakistan, yet many questions remain unanswered about the cause of the crash and the fate of the families of the deceased. The Airblue Crash Affectees Group (ACAG) - comprising families
Published 16 Apr, 2011 12:00am
SPSC examination results announced

SPSC examination results announced

Additional Controller of Examinations, Sindh Public Service Commission has informed that the commission conducted pre-interview written test in the month of January 2011 for recruitment to the posts of Lecturers BPS-17 in Education and Literacy Department
Published 16 Apr, 2011 12:00am
KSE assured of police protection

KSE assured of police protection

The Capital City Policy Officer (CCPO) Saud Ahmed on Friday visited Karachi Stock Exchange (KSE) and held meeting with the management and members of the exchange. Acting Managing Director of KSE, Haroon Askari welcomed the CCPO and other police officials
Published 16 Apr, 2011 12:00am
Capital police nab 10 suspected outlaws, recover arms

Capital police nab 10 suspected outlaws, recover arms

Islamabad Police during its ongoing anti-crime drive have arrested 10 persons for their alleged involvement in different crimes and recovered one 12-bore gun, eight pistols and drugs from their possession. Capital police continued its efforts for eliminat
Published 16 Apr, 2011 12:00am
NH&MP arrest murderer of taxi driver

NH&MP arrest murderer of taxi driver

National Highway and Motorway Police (NH&MP) North Zone (N-5) on Friday arrested a murderer of a taxi driver. Spokesperson of the NH&MP (N-5) Aftab Alam told Business Recorder that NH&MP beat-5 Mandra received an information on help line 130 that t
Published 16 Apr, 2011 12:00am
Four killed in various areas of city

Four killed in various areas of city

At least four people were killed in separate incidents in the metropolis here on Friday. According to details, a man was shot dead near Round Tanki in Zubairi Colony within the limits of Pak Colony police station. The victim, Mohammad Waseem, 32, son of M
Published 16 Apr, 2011 12:00am
Government urged to review agriculture policy

Government urged to review agriculture policy

The business community while expressing serious concern over food security urged the government to review its agriculture policy and prepare long-term plans to meet food requirements of the country. Food security is a common concern, therefore it is imper
Published 16 Apr, 2011 12:00am
Iesco power suspension notice

Iesco power suspension notice

According to Iesco spokesman, two new heavy towers are being installed in Jhelum for the improvement of existing power system on Sunday (April 17) from 7am to 16pm. During the process of installation interruption in power supply would be occurred due to w
Published 16 Apr, 2011 12:00am
DHA Phase-VIII: infrastructure development work completed

DHA Phase-VIII: infrastructure development work completed

The infrastructure development work in DHA Phase-VIII including construction of major arterial/collateral roads, lying of water supply networks, sewerage system, underground electric cable, construction of grid stations and sewerage treatment plants were
Published 16 Apr, 2011 12:00am
Loadshedding duration: Ibad's intervention helps check increase

Loadshedding duration: Ibad's intervention helps check increase

The timely intervention on the part of Governor of Sindh, Dr Ishrat-ul-Ibad Khan, helped check increase in the duration of loadshedding in the city. An official of the Governor House said on Friday that the Governor convened a meeting of the heads of the
Published 16 Apr, 2011 12:00am
New York cotton extends losing streak

New York cotton extends losing streak

US cotton futures closed down for a fourth straight day on Friday, extending a pullback from the $2/lb level as sentiment soured in response to another bearish outlook from Goldman Sachs. The key May cotton contract on ICE Futures US shed 0.52 cent to fin
Published 16 Apr, 2011 12:00am
US copper dips

US copper dips

Copper closed down for a fourth consecutive day on Thursday, hitting its lowest in more than a week, as rising inflation pressures in top-consumer China continued to muddy shorter-term demand prospects. Copper continued to distance itself from the broader
Published 16 Apr, 2011 12:00am
Shanghai copper down

Shanghai copper down

Shanghai copper edged lower and London prices trimmed early gains on Friday, as investors worried about further tightening in China after data showed strong economic growth and a 32-month high for March consumer prices. Shanghai's most-active copper futur
Published 16 Apr, 2011 12:00am
Copper under pressure

Copper under pressure

Copper closed almost flat on Friday, as the dollar pared gains and data showed improved US consumer sentiment, but investors worried high inflation in China would lead to monetary tightening and erode demand. Copper for three-months delivery on the London
Published 16 Apr, 2011 12:00am
Oil prices move up

Oil prices move up

Oil rose on Friday, with Brent crude surging past $123 a barrel, as improving US consumer confidence and industrial production eased concerns about rising fuel costs. Concerns about the impact of rising fuel costs on the economic recovery and consumption
Published 16 Apr, 2011 12:00am
Tokyo rubber futures slip

Tokyo rubber futures slip

Key Tokyo rubber futures fell 1.7 percent on Friday to a nearly two-week low as investors grew cautious about recent rapid price rises, with the market's focus shifting to a possible supply increase from top producer Thailand. The key Tokyo Commodity Exch
Published 16 Apr, 2011 12:00am
New York coffee, cocoa climb

New York coffee, cocoa climb

US cocoa futures settled up nearly 2 percent on Thursday, on chart-based buying and following positive European demand data. Raw sugar closed at a six-month low as supply availability was perceived as improving, while arabica coffee futures saw a strong s
Published 16 Apr, 2011 12:00am
Malaysian palm oil hits two-week low

Malaysian palm oil hits two-week low

Malaysian palm oil futures fell to a two-week low on Friday, racking up a fourth straight day of losses as signs of weaker demand and declining vegetable oil markets sapped sentiment at a time when output is swelling. The market has been weighed down for
Published 16 Apr, 2011 12:00am
US soyabeans lower

US soyabeans lower

US soyabean futures ended slightly lower on Thursday but above earlier session lows, with meal closing higher on support from new-crop corn gains, traders said. Wet weather in US corn-producing regions is slowing plantings and threatening 2011 corn produc
Published 16 Apr, 2011 12:00am
Liffe cocoa up

Liffe cocoa up

Liffe July cocoa closed 19 pounds higher at 1,979 pounds ($3,238) a tonne on Friday after first-quarter cocoa grindings rose in Malaysia, North America and Europe as cocoa processors utilised capacity around the world to compensate for lost capacity in Iv
Published 16 Apr, 2011 12:00am
US gold rises

US gold rises

US gold futures ended more than 1 percent higher and silver surged on Thursday, as a combination of dollar weakness, inflation worries and renewed Greek sovereign debt worries lifted bullion within striking distance to its record high. COMEX June gold fut
Published 16 Apr, 2011 12:00am
Gold hits new record in European trade

Gold hits new record in European trade

Gold hit record highs on Friday as eurozone sovereign debt concerns, worries over inflation and expectations US monetary policy will stay accommodative all conspired to lift the precious metal. Silver is also holding near its earlier 31-year high at $42.6
Published 16 Apr, 2011 12:00am
US MIDDAY: cocoa rises

US MIDDAY: cocoa rises

US cocoa futures finished firmer for the fifth straight session Friday on upbeat demand data, while arabica coffee moved closer towards last month's 34-year high. Raw sugar settled higher in a technical correction. The benchmark May raw sugar contract ros
Published 16 Apr, 2011 12:00am
US MIDDAY: corn plunges

US MIDDAY: corn plunges

US corn futures fell 1 percent on Friday and were on track for their first weekly loss in five weeks as the market lost favour with investors after another downbeat outlook from Goldman Sachs. Wheat and soyabeans fell early on the Goldman advice but turne
Published 16 Apr, 2011 12:00am
US MIDDAY: copper falls

US MIDDAY: copper falls

Copper fell for a fifth straight day on Friday, posting its biggest weekly loss since mid-March, as mounting inflationary pressure in China cast a shadow over the near-term demand outlook. COMEX May copper shed 2.65 cents to settle at $4.2575 per lb.
Published 16 Apr, 2011 12:00am
US MIDDAY: gold hits record, silver surges

US MIDDAY: gold hits record, silver surges

Gold rose 1 percent to a record and silver soared on Friday, as inflation worries amid a crude oil rally and a downgrade of Ireland's sovereign debt powered bullion toward its fifth consecutive weekly gain. Silver rose to its highest in 31 years on specul
Published 16 Apr, 2011 12:00am
Yarn available at affordable price for domestic industry: APTMA

Yarn available at affordable price for domestic industry: APTMA

Spokesman of All Pakistan Textile Mills Association (APTMA) has said that abundant yarn is available for domestic ancillary industry at comparatively low prices as against yarn available to regional competitors to produce textile products. He said the yar
Published 16 Apr, 2011 12:00am
SIC to hold public meeting on April 17

SIC to hold public meeting on April 17

Sunni Ittehad Council Pakistan (SICP) is going an extra mile to hold a big public meeting here tomorrow under the banner of "Istehkaam-e-Pakistan Sunni Conference" to show its power and relevance in Pakistan's religious and political horizon.
Published 16 Apr, 2011 12:00am
Hearing put off: Park, Ride Plaza construction on amenity plot

Hearing put off: Park, Ride Plaza construction on amenity plot

The Lahore High Court (LHC) here on Friday adjourning the hearing of the petition challenging construction of Park and Ride Plaza, Liberty Plaza, allegedly on an amenity plot, observed that no further adjournment be allowed to GOP, LDA or PHA and LDA offi
Published 16 Apr, 2011 12:00am
Foundation stone of Masjid laid in LHC premises

Foundation stone of Masjid laid in LHC premises

The Lahore High Court (LHC) Chief Justice Ijaz Ahmad Chaudhry and other judges here on Friday laid foundation stone of the Masjid in LHC premises. The two-storey mosque with accommodation capacity of 700 nimazis, will be completed by March next year with
Published 16 Apr, 2011 12:00am
Lawyers thrash director anti-corruption department

Lawyers thrash director anti-corruption department

Justice Mazoor Malik, while failing to protect an assistant director of anti-corruption department from lawyers' attack observed that "If system keeps on moving in this way, the whole system will be rolled back. Everything would be shattered, "the judge a
Published 16 Apr, 2011 12:00am
EPD to celebrate Earth Day 2011 on April 22

EPD to celebrate Earth Day 2011 on April 22

The Environment Protection Department Punjab (EPD) will celebrate Earth Day 2011 on April 22 by holding a painting and exhibition on recycling among the school children, and arranging a seminar to discuss environmental issues. According to an EPD's spokes
Published 16 Apr, 2011 12:00am
'Pakistanis are peace-loving people'

'Pakistanis are peace-loving people'

Pakistan is a country of peace loving and friendly people, said a Dutch couple who is on world tour for the past one and a half years. The couple is currently travelling around Pakistan in an old ambulance, which they have converted into a small house.
Published 16 Apr, 2011 12:00am
LHC hands over child to Canadian mother

LHC hands over child to Canadian mother

The Lahore High Court (LHC) here on Friday handed over a child to his Indian-origin Canadian national mother Roshni Desai. The court also returned passport of the mother and rejected a plea that under Islamic laws a Muslim child could not be handed over t
Published 16 Apr, 2011 12:00am
Pakistan, Kazakhstan agree to strengthen ties

Pakistan, Kazakhstan agree to strengthen ties

Pakistan and Kazakhstan have agreed to promote co-operation in various economic and technical fields during the seventh session of Pak-Kazakh Joint Ministerial Commission (JMC), here on Friday. The session held here was co-chaired by Minister for Water an
Published 16 Apr, 2011 12:00am
HBL earns Rs 4.7 billion profit

HBL earns Rs 4.7 billion profit

The profit after tax of Habib Bank Limited (HBL) increased to Rs 4.700 billion in the quarter ended on March 31, 2011, as compared to Rs 3.602 billion earned in the corresponding period in 2010. The board of directors of the bank in its meeting held here
Published 16 Apr, 2011 12:00am
HBL earns Rs 4.7 billion profit

HBL earns Rs 4.7 billion profit

The profit after tax of Habib Bank Limited (HBL) increased to Rs 4.700 billion in the quarter ended on March 31, 2011, as compared to Rs 3.602 billion earned in the corresponding period in 2010. The board of directors of the bank in its meeting held here
Published 16 Apr, 2011 12:00am
PU greatest seat of higher learning: minister

PU greatest seat of higher learning: minister

Punjab Agriculture and Livestock Minister Malik Ahmad Ali Aulakh said that Punjab University (PU) is greatest seat of higher learning with exceptional tradition and hoped that the students of Institute of Plant Pathology (IPP) Punjab University after comp
Published 16 Apr, 2011 12:00am
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