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Print - 2011-05-22
Sri Lankan bourse slips

Sri Lankan bourse slips

Sri Lankan shares edged down on Friday from a one-month high on retail profit-taking as optimism over the extension of the cutoff for margin trading evaporated, while the rupee ended steady. Sri Lanka's main share index closed 0.11 percent or 7.98 points
Published 22 May, 2011 12:00am
Turkish markets ease

Turkish markets ease

The Turkish lira and bonds weakened on Friday on foreign selling ahead of next week's interest rate-setting central bank meeting, with expectations running high for a further hike in banks' reserve requirements. Shares also edged lower, as the Turkish mar
Published 22 May, 2011 12:00am
Indian bond yields rise on continuous debt supply

Indian bond yields rise on continuous debt supply

Indian federal bond yields rose on Friday, with market sentiment weak in the face of heavy debt supply lined up, while traders speculated on the bonds to be sold at next week's auction. The yield on the 10-year benchmark bond ended up 3 basis points on th
Published 22 May, 2011 12:00am
Indian bond yields rise on continuous debt supply

Indian bond yields rise on continuous debt supply

Indian federal bond yields rose on Friday, with market sentiment weak in the face of heavy debt supply lined up, while traders speculated on the bonds to be sold at next week's auction. The yield on the 10-year benchmark bond ended up 3 basis points on th
Published 22 May, 2011 12:00am
LSE chief clears hurdle to TMX deal

LSE chief clears hurdle to TMX deal

London Stock Exchange Chief Xavier Rolet welcomed a decision by the LSE's merger target TMX Group to reject a rival take-over bid, clearing a key hurdle in a deal it needs to compete globally. "Once people had a chance to sit down and consider the Maple s
Published 22 May, 2011 12:00am
TSX advances for fifth day

TSX advances for fifth day

Toronto's main stock index rose for a fifth-straight session on Friday as higher bullion and oil prices boosted gold-mining and oil and gas shares. Among gold producers, Goldcorp was up 1.37 percent at C$47.50, Iamgold gained 1.95 percent to C$20.40, and
Published 22 May, 2011 12:00am
Latam stocks choppy

Latam stocks choppy

Latin American stocks slipped early on Friday, hurt by investor reluctance to take on positions ahead of the weekend as a number of big global economic questions remain unanswered. The MSCI Latin American index slid 0.17 percent, despite time in positive
Published 22 May, 2011 12:00am
ADR Report: stocks pressured by Europe debt problems; BP gains

ADR Report: stocks pressured by Europe debt problems; BP gains

Overseas shares traded in the United States fell on Friday on fresh fears of a Greek debt default. But US-listed shares of BP gained 2.5 percent to $45.00 after the oil company struck a key victory in its battle to share the cost of the Gulf of Mexico oil
Published 22 May, 2011 12:00am
Treasuries rise

Treasuries rise

US Treasuries prices rose on Friday, boosted by a safety bid from eurozone debt issues, though the sale of $99 billion in new notes next week is seen likely to pause the market's rally. Most prices ended slightly higher as disagreements on how to tackle G
Published 22 May, 2011 12:00am
Treasuries rise

Treasuries rise

US Treasuries prices rose on Friday, boosted by a safety bid from eurozone debt issues, though the sale of $99 billion in new notes next week is seen likely to pause the market's rally. Most prices ended slightly higher as disagreements on how to tackle G
Published 22 May, 2011 12:00am
Indonesia on brink of FIFA abyss

Indonesia on brink of FIFA abyss

The Indonesian Football Association (PSSI) was on the brink of expulsion from FIFA on Saturday after the governing body called off a crucial leadership vote that had descended into bitter deadlock. Rancour between supporters of rivals for the post - two o
Published 22 May, 2011 12:00am
African federations endorse Blatter

African federations endorse Blatter

FIFA president Sepp Blatter was endorsed by four African regional football federations Saturday for re-election as chief of the world football body ahead of the crucial June 1 vote in Zurich. UNIFAC (central region) president Mahomed Iya read a declaratio
Published 22 May, 2011 12:00am
Germany claim record fifth World Team Cup triumph

Germany claim record fifth World Team Cup triumph

Victory in the doubles handed Germany a record fifth World Team Cup title on Saturday as the hosts sealed a 2-1 win over defending champions Argentina in the final in Duesseldorf. Having lost to Juan Ignacio Chela earlier in the singles, Philipp Kohlschre
Published 22 May, 2011 12:00am
Wozniacki warms up for Paris with Brussels crown

Wozniacki warms up for Paris with Brussels crown

Danish world number one Caroline Wozniacki warmed up for the French Open in style on Saturday with a three-set win over Chinese hope Shuai Peng in the WTA Brussels Open final. Wozniacki, yet to land a Grand Slam, started nervously as Peng landed the first
Published 22 May, 2011 12:00am
Champions Barcelona end campaign with win in Malaga

Champions Barcelona end campaign with win in Malaga

Newly-crowned champions Barcelona did without the majority of their first team when they wrapped up their La Liga campaign with a 3-1 comeback win at Malaga on Saturday. Coach Pep Guardiola had his eyes firmly fixed on next weekend's Champions League fina
Published 22 May, 2011 12:00am
PCB invites Sri Lanka for series

PCB invites Sri Lanka for series

Sri Lanka, victims of an attack by militants in Lahore two years ago, have been invited to tour Pakistan for a series of games, the Pakistan Cricket Board (PCB) said on Saturday. "Yes we have sent them a fresh invite to play the series of three Tests, fiv
Published 22 May, 2011 12:00am
Wimbledon promoted to English Football League

Wimbledon promoted to English Football League

AFC Wimbledon, the fan-owned club that rose from the ashes of the original Wimbledon FC, were promoted to the Football League on Saturday after a penalty shootout playoff win over Luton Town. Top scorer and captain Danny Kedwell settled a tense Conference
Published 22 May, 2011 12:00am
British footballer takes legal action for Twitter details

British footballer takes legal action for Twitter details

A British footballer is taking legal action to force Twitter to give the details of users who broke a gagging order granting him anonymity over an alleged affair, his lawyers said Friday. The married player had earlier obtained an order from a judge banni
Published 22 May, 2011 12:00am
Heidler breaks world hammer-throw record

Heidler breaks world hammer-throw record

Germany's European champion Betty Heidler broke the world hammer-throw record by more than a metre at a meet in Halle, Germany, on Saturday. The 27-year-old threw 79.42m, well-clear of the previous mark of 78.30m thrown by Poland's world champion Anita Wl
Published 22 May, 2011 12:00am
Ferguson, Vidic land season awards

Ferguson, Vidic land season awards

Manchester United boss Sir Alex Ferguson and skipper Nemanja Vidic landed the Premier League manager and player of the season awards on Friday. Ferguson led United to their 12th Premier League title, and 19th English league success overall, plus the Champ
Published 22 May, 2011 12:00am
Punjab knocked out by Deccan

Punjab knocked out by Deccan

Shikhar Dhawan cracked an unbeaten 95 and Amit Mishra took a hat-trick as Deccan Chargers knocked Kings XI Punjab out of the Indian Premier League with an 82-run victory on Saturday. Left-handed opener Dhawan, who hit one six and 14 fours in his 57-ball k
Published 22 May, 2011 12:00am
Tanvir, Ajmal give Pakistan valuable, late boost

Tanvir, Ajmal give Pakistan valuable, late boost

Tanvir Ahmed completed a maiden half-century and frustrated West Indies with Saeed Ajmal for close to two hours, as Pakistan were dismissed for 272 shortly before lunch in the second Test on Saturday. Tanvir led a late recovery for the Pakistanis with 57
Published 22 May, 2011 12:00am
US Treasury outlook: debt fears nick US's safe-haven appeal

US Treasury outlook: debt fears nick US's safe-haven appeal

Growing worries over the credit-worthiness of sovereign debt have nicked the safe-haven appeal of US Treasuries just as the government plans to sell $99 billion in securities next week. The cost to hedge against a US government debt default rose on Friday
Published 22 May, 2011 12:00am
US Treasury outlook: debt fears nick US's safe-haven appeal

US Treasury outlook: debt fears nick US's safe-haven appeal

Growing worries over the credit-worthiness of sovereign debt have nicked the safe-haven appeal of US Treasuries just as the government plans to sell $99 billion in securities next week. The cost to hedge against a US government debt default rose on Friday
Published 22 May, 2011 12:00am
Kazakh finance minister sees no Eurobond issue in 2011

Kazakh finance minister sees no Eurobond issue in 2011

Kazakhstan, which is benefiting from high global prices of its commodity exports, has no plans to issue a Eurobond this year and will focus on cutting its budget deficit, the country's finance minister told Reuters. Central Asia's largest economy and oil
Published 22 May, 2011 12:00am
Kazakh finance minister sees no Eurobond issue in 2011

Kazakh finance minister sees no Eurobond issue in 2011

Kazakhstan, which is benefiting from high global prices of its commodity exports, has no plans to issue a Eurobond this year and will focus on cutting its budget deficit, the country's finance minister told Reuters. Central Asia's largest economy and oil
Published 22 May, 2011 12:00am
Wall Street slips

Wall Street slips

US stocks fell on Friday on eurozone debt worries that could spill over into next week's trading with a bearish note, while retailers lost ground after a weak profit outlook from Gap. The S&P 500 remains hemmed in between technical support at 1,330 and re
Published 22 May, 2011 12:00am
Latam currencies mixed on US rate concern

Latam currencies mixed on US rate concern

Latin American currencies traded mixed against the US dollar on Friday as prices see-sawed and amid growing concern over the pace of long-awaited interest-rate hikes in the United States. Higher borrowing costs would reduce returns that investors earn by
Published 22 May, 2011 12:00am
Canada's dollar drops on inflation data

Canada's dollar drops on inflation data

Canada's dollar drooped on Friday and government bond prices ramped higher as unexpectedly weak retail sales and inflation data reduced expectations that the Bank of Canada will soon raise interest rates. The data, along with mixed economic reports from o
Published 22 May, 2011 12:00am
Key Euribor rates rise to two-year highs

Key Euribor rates rise to two-year highs

Key euro-priced bank-to-bank lending rates ticked up to two-year highs on Friday as markets sought to discern whether strong euro zone growth and faster inflation will prompt the ECB into further rate hikes this year. Germany, Europe's largest economy, gr
Published 22 May, 2011 12:00am
African currency outlook

African currency outlook

Kenya's shilling could hit new lows against the dollar next week while its Ugandan peer will probably have to rely on central bank intervention to stay on an even keel.
Published 22 May, 2011 12:00am
Euro to stay under pressure as debt fears flare up

Euro to stay under pressure as debt fears flare up

The euro should remain vulnerable to negative headlines about Greece's debt next week, but will likely trade within a range as investors hesitate to sell the euro zone single currency with a key European Central Bank meeting around the corner.
Published 22 May, 2011 12:00am
Rouble falls versus dollar

Rouble falls versus dollar

The rouble fell slightly versus the dollar on Friday after a positive morning start, as oil prices fell and the euro weakened against the greenback ahead of the weekend. The rouble lost 2 kopecks to 28.02, still hovering some 77 kopecks off its strongest
Published 22 May, 2011 12:00am
US sets more duties on wood flooring from China

US sets more duties on wood flooring from China

The US Commerce Department on Friday said it had slapped preliminary anti-dumping duties ranging up to nearly 83 percent on over $100 million of wood flooring from China to offset unfair pricing practices. The decision is a victory for US manufacturers An
Published 22 May, 2011 12:00am
Saudi Aramco, France's Air Liquide in nitrogen deal

Saudi Aramco, France's Air Liquide in nitrogen deal

French industrial gases group Air Liquide signed on Saturday a long-term agreement to supply nitrogen to state oil giant Saudi Aramco. Under the 20-year deal, the French firm will supply at least 5 million standard cubic feet per day of nitrogen to suppor
Published 22 May, 2011 12:00am
Iran finds light oil in offshore gas field

Iran finds light oil in offshore gas field

Iran has discovered a deposit of light oil offshore of an estimated in-place reserve of 756 million barrels valued at $13.6 billion, the state TV website reported on Saturday quoting a senior oil official. The oil reserve was found at Khayyam field off th
Published 22 May, 2011 12:00am
EBRD agrees to start process for North Africa expansion

EBRD agrees to start process for North Africa expansion

The European Bank for Reconstruction and Development agreed on Saturday to begin the process of expanding lending into the Middle East and North Africa, following a string of popular revolts in the Arab world. The bank will explore how to direct funds to
Published 22 May, 2011 12:00am
S&P cuts credit outlook for Italy to 'negative'

S&P cuts credit outlook for Italy to 'negative'

Credit ratings agency Standard & Poors cut its outlook for Italy to "negative" from "stable", citing weak outlook for growth and reduced prospects for slashing its debt mountain. The downward revision, which raises the risk of a downgrade of Italy's sover
Published 22 May, 2011 12:00am
Taiwan, Singapore launch satellite

Taiwan, Singapore launch satellite

Taiwan's leading telecom operator Chunghwa Telecom has launched its second commercial communications satellite in a joint venture with Singapore Telecommunications, local media said Saturday. The launch of the ST-2 satellite took place from the Kourou Spa
Published 22 May, 2011 12:00am
Russia opposes EU sanctions on Belarus

Russia opposes EU sanctions on Belarus

Russia, which hopes to buy more than seven billion dollars worth of Belarussian assets as it helps Minsk tackle a currency crisis, expressed opposition on Saturday to tougher European sanctions against Belarus firms. The EU has already imposed a travel ba
Published 22 May, 2011 12:00am
Apec trade ministers call for Doha rescue plan

Apec trade ministers call for Doha rescue plan

Asia Pacific trade ministers said on Friday a new approach is needed to rescue decade-old world trade talks from failure as they firmed up some goals to reduce barriers to trade in the region. "All ministers agreed that we cannot simply keep doing what we
Published 22 May, 2011 12:00am
Toyota has 45 days supply in US

Toyota has 45 days supply in US

Toyota Motor Corp told its US dealers this week that the company had 45 days of inventory and was working hard to get the word out that it was "open for business." In a letter obtained by Reuters, US Toyota brand sales chief Bob Carter told dealers the co
Published 22 May, 2011 12:00am
Czech workers rally against austerity plans

Czech workers rally against austerity plans

Tens of thousands of Czechs marched in Prague on Saturday against the government's plans to reform pensions, healthcare and social benefits, saying they were anti-social and damaging for the economy. Union leaders, who estimated more than 40,000 people ga
Published 22 May, 2011 12:00am
Spanish protesters defy ban with all-night party

Spanish protesters defy ban with all-night party

Spanish protesters furious over soaring unemployment remained camped in a Madrid square Saturday after all-night festivities in defiance of a 48-hour ban ahead of local elections. Some 25,000 people, according to Spanish media, crammed the central Puerta
Published 22 May, 2011 12:00am
Thousands attend French protest ahead of G8 summit

Thousands attend French protest ahead of G8 summit

Several thousand anti-globalisation demonstrators protested in the northern French city of Le Havre Saturday, ahead of the G8 summit starting next week just a few kilometres down the coast. Leaders of the Group of Eight nations - Britain, Canada, France,
Published 22 May, 2011 12:00am
IMF approves loan for Portugal

IMF approves loan for Portugal

The International Monetary Fund on Friday approved a 26 billion euro loan for Portugal to help the country recover from a debilitating sovereign debt crisis, saying it would immediately disburse 6.1 billion euros to ease investor concerns over the euro zo
Published 22 May, 2011 12:00am
Greek Prime Minister rejects debt restructuring, mulls taxes

Greek Prime Minister rejects debt restructuring, mulls taxes

Prime Minister George Papandreou ruled out a restructuring of Greece's debt but declined to comment whether a softer "reprofiling" was on the cards, the state-run Athens news Agency (ANA) reported on Saturday. One year into its European Union/Internationa
Published 22 May, 2011 12:00am
Commemorative Postage Stamps of Sino-Pak friendship issued

Commemorative Postage Stamps of Sino-Pak friendship issued

Pakistan Post has issued Commemorative Postage Stamps for denomination of eight rupees to commemorate the 60th anniversary of the establishment of diplomatic relations between Pakistan and China and to celebrate 2011 as the year of Sino-Pakistan friendshi
Published 22 May, 2011 12:00am
CCPO Quetta made OSD

CCPO Quetta made OSD

The Government of Balochistan has made CCPO Quetta Daud Junejo as OSD. Official sources confirmed on Saturday night that S & GAD Department has issued orders to make CCPO Quetta as OSD. Additional IGP Balochistan Ghalib Bandesha has been given additional
Published 22 May, 2011 12:00am
Gold jumps to Rs 42,514 per 10gm

Gold jumps to Rs 42,514 per 10gm

Gold jumped by Rs 600 to Rs 42,514 per 10 grams in local bullion market on Saturday, as its international price also increased to $1,512 an ounce, market sources said. According to Karachi Saraf Association, tola (11.664 grams) price also soared by Rs 700
Published 22 May, 2011 12:00am
Bar's countrywide protest tomorrow against lawyers' targeted killings

Bar's countrywide protest tomorrow against lawyers' targeted killings

President of Supreme Court Bar Association Ms Asma Jahangir says on call of Pakistan Bar Council legal fraternity will observe countrywide black day and complete strike on May 23, 2011 to protest against growing targeted killings of members of legal frate
Published 22 May, 2011 12:00am
'Sir Creek issue should be resolved through dialogue'

'Sir Creek issue should be resolved through dialogue'

Analyst Professor Munawar Hussain said that Sir Creek issue has very old history as it dates back since the division of the sub-continent and must be resolved through mutual dialogue. Talking to PTV on Saturday, he said those dialogues would help both cou
Published 22 May, 2011 12:00am
Director NUST suffers stroke

Director NUST suffers stroke

Director P&MR National University of Sciences & Technology (NUST) Islamabad and Former State Advisor Information & Broadcasting, ex-Chief Editor Daily Masawat, Al-Fatah and Frontier Post Irshad Rao had a high blood pressure attack, says a press release is
Published 22 May, 2011 12:00am
Power failure for long hours causing colossal loses

Power failure for long hours causing colossal loses

Performance of Karachi Electric Supply Company (KESC) is deteriorating with the passage of time and general public realign in hot weather without electivity for more then 10 to 20 hours beside small business suffer colossal loses. Many parts of the city i
Published 22 May, 2011 12:00am
Transport Department outlines next fiscal year projects

Transport Department outlines next fiscal year projects

The Provincial Transport Department has outlined various projects to be initiated during the next fiscal 2011-12. According to an announcement here on Saturday by the Transport Department, the development projects of the department will be executed under
Published 22 May, 2011 12:00am
Raisani against handing over Gwadar port to Chinese

Raisani against handing over Gwadar port to Chinese

Balochistan Chief Minister Nawab Aslam Raisani has opposed the decision of the government to hand over Gwadar Port to China, Aaj News reported Saturday. According to the channel, the chief minister said the federal government did not take the provi
Published 22 May, 2011 12:00am
Acting CEC postpones PB-26 Jaffarabad-II by-poll

Acting CEC postpones PB-26 Jaffarabad-II by-poll

Election Commission of Pakistan (ECP), has postponed the poll for Bye-election in Constituency PB-26 Jaffarabad-II (Old Nasirabad-II), which was scheduled to be held on the May 24. The new date fixed for the elections, is July 9, as poll day for the const
Published 22 May, 2011 12:00am
Workshop on 'Psycho-socio uplift of child' organised

Workshop on 'Psycho-socio uplift of child' organised

Helping Hand for Relief and Development (HHRD) organised a three- day training workshop on 'Psycho-socio Uplift of Child', which was inaugurated by a Famous religious scholar Khalil-ur-Rahman Chisti. Field staff of Orphan Support Programme of HHRD along w
Published 22 May, 2011 12:00am
Judicial work to be done without fear and favour: CJ

Judicial work to be done without fear and favour: CJ

While chairing the inaugural session of National Judicial Policy Making Committee (NJPMC) meeting on Saturday, Chief Justice Iftikhar Muhammad Chaudhry said the judicial work should be done without fear and favour to dispense justice for needy people.
Published 22 May, 2011 12:00am
Court bans Ahmadinejad ally from office

Court bans Ahmadinejad ally from office

An Iranian court has barred a vice president and ally of Mahmoud Ahmadinejad from holding office for "violations" in a previous job, the semi-official Fars news agency said on Saturday, in a blow to the president. Hamid Baqaie, one of eight vice president
Published 22 May, 2011 12:00am
Obama names Patterson as envoy to Egypt

Obama names Patterson as envoy to Egypt

President Barack Obama on Friday named Anne Patterson, Washington's former envoy to Pakistan, as the next US ambassador to Egypt, a key ally that Washington hopes will become a model for Arab democracy, the White House said.
Published 22 May, 2011 12:00am
Egypt's top imam seeks mercy for Mubarak

Egypt's top imam seeks mercy for Mubarak

Top Egyptian Muslim leader Ahmed el-Tayeb has appealed in an interview with a German newspaper for mercy for Hosny Mubarak, arguing that the ousted former president is old and ill. The grand sheikh of the Al-Azhar institution in Cairo is quoted in by the
Published 22 May, 2011 12:00am
Mourner shot dead at Syrian funeral

Mourner shot dead at Syrian funeral

Syrian security forces shot dead a mourner in the central city of Homs on Saturday and wounded many more, a witness said, at a mass funeral for people killed in the latest crackdown on protests against President Bashar al-Assad. The funeral at Nasr cemete
Published 22 May, 2011 12:00am
China, South Korea leaders visit Fukushima in show of support

China, South Korea leaders visit Fukushima in show of support

Chinese and South Korean leaders chatted with evacuees and tasted local produce in Japan's battered north-east on Saturday, in a show of support for a nation struggling with a humanitarian and nuclear crisis set off by a deadly earthquake and tsunami in M
Published 22 May, 2011 12:00am
US revises visa policy in gesture to Iranians

US revises visa policy in gesture to Iranians

Some Iranian students may seek two-year, multiple-entry US visas, the State Department said on Friday, giving them greater freedom to travel to the United States in a gesture to improve people-to-people ties. The step is the latest in a series by US Presi
Published 22 May, 2011 12:00am
10 dead in landslide

10 dead in landslide

A landslide caused by heavy rains hit an orphanage in Malaysia on Saturday, killing at least eight children and two caretakers, the official Bernama news agency said. Six more children were missing, buried under the mud and rubble, while nine survivors, m
Published 22 May, 2011 12:00am
Yemen opposition signs 'transition of power' deal

Yemen opposition signs 'transition of power' deal

Yemen's opposition signed a Gulf-brokered transition deal on Saturday that will ease President Ali Abdullah Saleh out of power within a month, provided he ratifies the agreement as promised on Sunday. Saleh, a shrewd political survivor who has outlasted p
Published 22 May, 2011 12:00am
Former pizza chain boss announces White House bid

Former pizza chain boss announces White House bid

Radio talkshow host Herman Cain, who once ran the Godfather's Pizza chain, announced Saturday his bid oust President Barack Obama from the White House in 2012. "Just be to clear - I'm running for president of the United States and I'm not running for seco
Published 22 May, 2011 12:00am
Hamas must recognise Israel's right to exist: Turkey's Gul

Hamas must recognise Israel's right to exist: Turkey's Gul

Turkey's President Abdullah Gul has urged the Palestinian Hamas to recognise Israel's right to exist, the Wall Street Journal reported on Saturday. In an interview a day after US President Barack Obama delivered a speech on the Middle East, Gul also haile
Published 22 May, 2011 12:00am
Astronauts offer pope unique view of Earth's woes

Astronauts offer pope unique view of Earth's woes

The shuttle Endeavour and space station crews gathered on Saturday for an unprecedented conversation with Pope Benedict, who asked how the space program can promote peace and if the astronauts pray while in orbit. "I think it must be obvious to you how we
Published 22 May, 2011 12:00am
Ouattara inaugurated as Ivory Coast president

Ouattara inaugurated as Ivory Coast president

Alas-sane Ouattara was inaugurated as president of Ivory Coast on Saturday, in a ceremony most Ivorians hope will put a decade of conflict and instability behind them and mend a once prosperous economy. French President Nicolas Sarkozy, whose troops helpe
Published 22 May, 2011 12:00am
Iranian dissident wins Cannes directing prize

Iranian dissident wins Cannes directing prize

Iranian dissident Mohammad Rasoulof won the Cannes prize for best director in the Un Certain Regard section Saturday but could not attend because of "Kafkaesque" authorities at home. Rasoulof's wife received the prize for "Be Omid e Didar" (Goodbye) on hi
Published 22 May, 2011 12:00am
Turkey warns Israel over new Gaza flotilla

Turkey warns Israel over new Gaza flotilla

Turkey on Saturday warned Israel against another act of bloodshed in international waters after activists announced plans to send a new aid flotilla to the blockaded Gaza Strip. "It should be known that Turkey will give the necessary response to any repea
Published 22 May, 2011 12:00am
India's ruling Congress popularity falls

India's ruling Congress popularity falls

Voter support for India's embattled ruling Congress party, which marked the second anniversary of its re-election at the weekend, has fallen "significantly", according to a new poll. The decline in popularity comes as the Congress-led coalition reels from
Published 22 May, 2011 12:00am
Copper rallies

Copper rallies

Copper closed the trading week on a stronger footing on Friday, touching its highest in more than two weeks as evidence of strengthening Chinese demand gave values a firm boost. The bullish momentum, led by another large withdrawal in Shanghai inventories
Published 22 May, 2011 12:00am
US gold jumps 1.5 percent

US gold jumps 1.5 percent

Gold rose 1.5 percent on Friday, its biggest daily gain in two weeks, on safe-haven buying as investors fretted about eurozone debt after Fitch cut Greece's credit ratings. Bullion fell early in the session before turning higher after Fitch downgraded Gre
Published 22 May, 2011 12:00am
US soya, corn up

US soya, corn up

US corn futures rallied on Friday, shrugging off early profit-taking pressure to add to a string of gains tied to continued delays in planting. Soyabean futures ended fractionally higher after a two-sided session, dogged by profit-taking ahead of the week
Published 22 May, 2011 12:00am
Asian grains: Malaysia, Indonesia buy US new-crop spring wheat

Asian grains: Malaysia, Indonesia buy US new-crop spring wheat

Flour mills in Malaysia bought some 80,000 tonnes of US new-crop spring wheat while Indonesia took around 20,000 tonnes, taking advantage of a drop in global prices at the end of last week. The deals were signed between $440 and $470 a tonne, including co
Published 22 May, 2011 12:00am
Philippines sugar output to outpace demand

Philippines sugar output to outpace demand

Philippine sugar output in the crop year 2010/11 is likely to outpace demand as production has so far exceeded a government forecast, with the country fast tracking shipments of the sweetener to the United States to meet a higher quota, the head of the in
Published 22 May, 2011 12:00am
Thai raw sugar trades at highest premiums in two weeks

Thai raw sugar trades at highest premiums in two weeks

Thai raw sugar for nearby delivery changed hands at its highest premiums in two weeks as consumers scrambled to buy the sweetener following backlogs in Brazilian ports, dealers said on Wednesday. Thai raws were traded at 180 points over New York's July co
Published 22 May, 2011 12:00am
Vietnam crushed a bumper sugar crop, imports to slow

Vietnam crushed a bumper sugar crop, imports to slow

Vietnam's sugar output in the 2010/2011 crushing season jumped by a quarter from last year to 1.13 million tonnes, prompting market regulators to slow imports of the commodity in coming months, a state-run newspaper reported on Saturday. Vietnam, a tiny s
Published 22 May, 2011 12:00am
North Dakota wheat, corn acres losing to soya, sunflower

North Dakota wheat, corn acres losing to soya, sunflower

Farmers in the top wheat state of North Dakota will not get all their intended wheat, corn and canola acres seeded this spring due to heavy rains and flooding, an executive of a US wheat group said on Friday. "No question the increased intentions on wheat
Published 22 May, 2011 12:00am
Commodities stable after volatile fortnight

Commodities stable after volatile fortnight

Most commodity markets stabilised last week after a fortnight of choppy trade, but crude oil sank further after the IEA warned that high price levels could endanger global economic growth. "After tumultuous price moves through the first two weeks of May,
Published 22 May, 2011 12:00am
Establishing tourism university

Establishing tourism university

In a recent meeting held under the chairmanship of Sindh Minister for Tourism, Law and Parliamentary Affairs Ayaz Soomro, it has been decided to establish a tourism university in Karachi.
Published 22 May, 2011 12:00am
IMF defends its sexual harassment policies

IMF defends its sexual harassment policies

The International Monetary Fund (IMF) on Friday dismissed suggestions that a culture of tolerance for sexual harassment had enabled such figures as its former managing director to exploit lower-ranking women. Dominique Strauss-Kahn resigned as managing di
Published 22 May, 2011 12:00am
Why FBR failed to raise tax-to-GDP ratio - II

Why FBR failed to raise tax-to-GDP ratio - II

If government is really serious in tackling the issues of revenue, it must give due importance to the FBR as the most important earning hand of the country as an institution, instead of accommodating the vested interest and blue-eyed non-professionals. Ri
Published 22 May, 2011 12:00am
Structural imbalances in India's economic growth

Structural imbalances in India's economic growth

Despite being hit by a series of major commercial scandals in recent years, India remains on the high growth trajectory. As Banerjee has recently argued "functional" corruption flourishes in India - the sort of corruption that spurs investment growth and
Published 22 May, 2011 12:00am
The return of the IDPs

The return of the IDPs

In March, the Khyber-Pakhtunkhwa government started the process of rehabilitating the internally displaced persons (IDPs) of Bajaur and Mohmand Agencies of the Federally Administered Tribal Areas (Fata) living in Jalozai camp near Nowshera. More than 15,0
Published 22 May, 2011 12:00am
PIDE's advice

PIDE's advice

The Pakistan Institute of Development Economics (PIDE) is a premier economic research organisation of the country. As such, its advice on the state of the economy and its prognosis needs to be listened with a great deal of attention. At a pre-budget semin
Published 22 May, 2011 12:00am
Restoration of judges: PML-N leader rebuts news reports

Restoration of judges: PML-N leader rebuts news reports

Senior Advisor to Chief Minister Punjab, Sirdar Zulfiqar Ali Khan Khosa has contradicted a news item published in a section of the press quoting Wikileaks that during the movement for restoration of judges, Chief Minister Punjab, Muhammad Shahbaz Sharif w
Published 22 May, 2011 12:00am
APTMA for harmony among various segments of textile sector

APTMA for harmony among various segments of textile sector

Gohar Ejaz, Chairman, All Pakistan Textile Mills Association has stressed complete harmony between various segments of the Textile Sector to make meeting with President, Asif Ali Zardari, on Monday, 23rd May at Islamabad most productive and result-oriente
Published 22 May, 2011 12:00am
1,119 disciplinary cases disposed of in 15 months

1,119 disciplinary cases disposed of in 15 months

Punjab Chief Secretary Nasir Khosa has disposed of as many as 1,119 disciplinary cases, appeals and petitions filed by the government officials during the last 15 months. According to an official here on Saturday, no case of any nature is lying pending wi
Published 22 May, 2011 12:00am
IMF sees fall in GDP of oil importing countries

IMF sees fall in GDP of oil importing countries

The International Monetary Fund (IMF) has forecast a reduction in Gross Domestic Product (GDP) growth rate of oil importing countries - from 4.7 percent in calendar year 2010 to 2.3 percent in 2011.
Published 22 May, 2011 12:00am
Punjab government criticised for inefficient wheat procurement

Punjab government criticised for inefficient wheat procurement

Former federal law minister, Babar Awan has said central government would procure wheat from Punjabi farmers, as Punjab government has failed to do the job efficiently. He was addressing a seminar hammering a dialogue titled Zulfiqar Ali Bhutto: Constitut
Published 22 May, 2011 12:00am
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