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Nov 29, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2011-07-02
Mexico inflation, growth view lower

Mexico inflation, growth view lower

Analysts following Mexico's economy lowered their expectations for 2011 inflation and trimmed their forecast for growth, a poll showed on Friday, giving policymakers more room to keep rates on hold. The monthly survey, carried out by the central bank in l
Published 02 Jul, 2011 12:00am
Japan begins power restrictions

Japan begins power restrictions

Japan on Friday began restricting electricity consumption in the Tokyo and Tohoku regions, more than three months after a tsunami sent nuclear reactors into meltdown at the Fukushima Daiichi plant. The power-saving drive, which for many began shortly afte
Published 02 Jul, 2011 12:00am
Japan's post-quake business confidence plunges: BoJ

Japan's post-quake business confidence plunges: BoJ

Japanese business confidence plunged in the months after the March 11 earthquake, turning negative for the first time in over a year, the Bank of Japan said in its quarterly Tankan survey Friday. But firms expect conditions to improve by September and ana
Published 02 Jul, 2011 12:00am
Japan's car sales slump, Koreans gain globally

Japan's car sales slump, Koreans gain globally

New vehicle sales in Japan slumped by more than a fifth in June as the production disruption from the March earthquake lingered, but the data showed a big improvement from the previous months as more parts became available. In neighbouring South Korea, Hy
Published 02 Jul, 2011 12:00am
Arab investor backs out of bid to take over German warship yards

Arab investor backs out of bid to take over German warship yards

Plans for a United Arab Emirates (UAE) investor to take a stake in Germany's surface-warship industry have collapsed, the German company ThyssenKrupp said Friday. Abu Dhabi Mar had been set to buy from ThyssenKrupp the high-security Hamburg dockyards that
Published 02 Jul, 2011 12:00am
US construction spending tumbles

US construction spending tumbles

US construction spending fell for a sixth straight month during May to its lowest in more than a decade, according to a Commerce Department report on Friday that underlined the soft pace of activity in building trades that normally are major employers.
Published 02 Jul, 2011 12:00am
Indonesia, France sign strategic partnership

Indonesia, France sign strategic partnership

Indonesian President Susilo Bambang Yudhoyono and visiting French Prime Minister Francois Fillon agreed Friday to establish a strategic partnership to boost co-operation between the two nations. "Indonesia has become a great emerging country...which takes
Published 02 Jul, 2011 12:00am
Singapore takes Malaysian rail land in historic deal

Singapore takes Malaysian rail land in historic deal

Singapore on Friday took over a historic train station and large tracts of railway land from Malaysia as part of a multibillion-dollar deal that removed an old irritant between the neighbours. The last train to Malaysia's capital Kuala Lumpur left before
Published 02 Jul, 2011 12:00am
Russia launches biggest bank bailout

Russia launches biggest bank bailout

The bank founded by Moscow's deposed city chief received the largest bailout package in Russia's history on Friday following a take-over by state-controlled lender VTB. The 395-billion-ruble ($14.2-billion) cash injection for the Bank of Moscow followed a
Published 02 Jul, 2011 12:00am
Brazil's June trade surplus a year's highest

Brazil's June trade surplus a year's highest

Brazil posted its biggest trade surplus of the year so far in June as imports fell for the first time in 2011 and exports advanced slightly. The country's trade surplus reached $4.43 billion in June, well above the revised $3.527 billion in May, the gover
Published 02 Jul, 2011 12:00am
Ireland merges Anglo Irish under bank overhaul

Ireland merges Anglo Irish under bank overhaul

Two of Ireland's most debt-laden financial institutions, Anglo Irish Bank and the Irish Nation-wide Building Society, merged on Friday under the government's radical overhaul of the country's lenders. The merger, creating the Irish Bank Resolution Corpora
Published 02 Jul, 2011 12:00am
Apple, Microsoft-led consortium wins Nortel patents

Apple, Microsoft-led consortium wins Nortel patents

A consortium led by Apple and Microsoft won an auction for some 6,000 patents held by bankrupt Canadian firm Nortel, their $4.5 billion bid beating Google and Intel, Nortel announced on Friday. The consortium consisting of Apple, EMC, Ericsson, Microsoft,
Published 02 Jul, 2011 12:00am
Landmark EU-South Korea trade deal takes effect

Landmark EU-South Korea trade deal takes effect

A free trade pact between the European Union and South Korea, the first such deal linking Asia and the world's largest economic bloc, came into effect on Friday, bringing with it sweeping changes. The deal will eventually do away with 98.7 percent of duti
Published 02 Jul, 2011 12:00am
US manufacturing growth up; Europe, Asia slip

US manufacturing growth up; Europe, Asia slip

US manufacturing grew at a surprisingly strong pace in June, suggesting the global economy is starting to shake off its recent weakness, but the sector lost steam for a second month in Europe and Asia. The US Institute for Supply Management report may off
Published 02 Jul, 2011 12:00am
Major Southeast Asian stocks climb

Major Southeast Asian stocks climb

Major Southeast Asian stock markets climbed on Friday, led by consumer and financial sectors as fears of a sovereign default by Greece faded and foreign investors returned to emerging Asian stocks. Trading volume was light, however, with turnover falling
Published 02 Jul, 2011 12:00am
Nikkei hits seven-week high

Nikkei hits seven-week high

The Nikkei share average climbed to a seven-week high on Friday but low trading volume and the index's failure to decisively rise above its 200-day average suggested investors are not convinced it will break from its post-quake range anytime soon. Easing
Published 02 Jul, 2011 12:00am
Friday's midday trade: stocks continue rallying

Friday's midday trade: stocks continue rallying

US stocks rallied on Friday for a fifth day and were on track to record their best week in nearly a year, after a surprising jump in manufacturing data eased concerns about a tepid economic recovery. Consumer discretionary and financial stocks led the day
Published 02 Jul, 2011 12:00am
US stocks end volatile quarter with biggest four-day rally

US stocks end volatile quarter with biggest four-day rally

US stocks ended a volatile quarter on Thursday with their biggest four-day rally since September as positive economic data and a temporary resolution of Greece's debt crisis indicated further gains in July. Midwest business activity showed surprising stre
Published 02 Jul, 2011 12:00am
Hong Kong markets closed

Hong Kong markets closed

Hong Kong's financial and stock markets are closed on Friday for a public holiday. Trading will resume on Monday, July 4.
Published 02 Jul, 2011 12:00am
Treasuries end quarter on weak note

Treasuries end quarter on weak note

US Treasury debt prices extended the week's losses on Thursday, ending the quarter on a weak note at odds with the bond market's overall move up over the last three months. Treasuries suffered from investors' waning appetite for safety as Greece approved
Published 02 Jul, 2011 12:00am
Treasuries end quarter on weak note

Treasuries end quarter on weak note

US Treasury debt prices extended the week's losses on Thursday, ending the quarter on a weak note at odds with the bond market's overall move up over the last three months. Treasuries suffered from investors' waning appetite for safety as Greece approved
Published 02 Jul, 2011 12:00am
South Korean shares move higher

South Korean shares move higher

Seoul shares rose on Friday on improving sentiment and substantial foreign buying, with firm gains in technology stocks like Samsung Electronics helping the market. The Korea Composite Stock Price Index ended up 1.19 percent at 2,125.74 points. "These are
Published 02 Jul, 2011 12:00am
China shares end down

China shares end down

China's main stock index closed down 0.1 percent on Friday, as lingering worries over an imminent interest rate rise pushed large-cap banking stocks sharply lower. The benchmark Shanghai Composite Index ended at 2,759.4 points, reversing a rise earlier in
Published 02 Jul, 2011 12:00am
Indian shares see second weekly gain

Indian shares see second weekly gain

Indian shares ended higher for the second week in a row, but fell 0.44 percent on Friday as losses in Reliance Industries and Bharti Airtel and some profit-taking after six days of gains pulled down the main index. Shares in energy major Reliance fell 4.3
Published 02 Jul, 2011 12:00am
Australian shares fall

Australian shares fall

Australian stocks snapped a three-day winning run to fall 0.4 percent on Friday as weaker than expected Chinese PMI data and lukewarm Japanese business sentiment indicators weighed on shares. The main share index still notched up its second consecutive we
Published 02 Jul, 2011 12:00am
Greece optimism lifts FTSE to best week in a year

Greece optimism lifts FTSE to best week in a year

Britain's top shares rose on Friday, led by banks on positive US economic data and as immediate fears over the Greek debt situation subsided. The index posted its best weekly percentage gain in almost a year, up 5.1 percent, in a period, which saw Greece
Published 02 Jul, 2011 12:00am
Australian and New Zealand dollars hold hefty gains

Australian and New Zealand dollars hold hefty gains

The Australian and New Zealand dollars were heading for their best week in three months on Friday with even a slowdown in Chinese factory activity prompting only limited profit-taking. Factory output in Australia's largest trading partner expanded in June
Published 02 Jul, 2011 12:00am
Indian rupee hits near two-month high

Indian rupee hits near two-month high

The Indian rupee hit a near two-month high on Friday supported by a strong euro and robust dollar inflows which helped offset the impact of weak local shares, and traders expect further gains in the euro to underpin the local unit next week. The partially
Published 02 Jul, 2011 12:00am
Money markets up on ECB rate hike expectations

Money markets up on ECB rate hike expectations

Markets have firmed up their expectations for a European Central Bank interest rate hike this month with the bank's President striking a hawkish tone but are proving reluctant to price in further tightening. Greece's debt crisis had cast doubt on whether
Published 02 Jul, 2011 12:00am
Swiss franc down as Greek worries ease

Swiss franc down as Greek worries ease

The Swiss franc continued its downward slide versus the euro and the dollar on Friday as investors used the moment of relief offered by Greece's approval of austerity legislation to take profits. The franc fell to session lows against both the euro and th
Published 02 Jul, 2011 12:00am
Euro rally loses steam in Asia

Euro rally loses steam in Asia

The euro's advance against the dollar lost momentum on Friday after a rally this week as the market focus shifted to upcoming economic data, with Greece looking set to secure emergency funds and avert imminent default. The single currency, however, was su
Published 02 Jul, 2011 12:00am
Euro holds gains versus dollar

Euro holds gains versus dollar

The euro hit a three-week high against the dollar on Friday, buoyed by better risk sentiment while the Swiss franc stumbled as Greece's passage of austerity measures prompted investors to cut back long positions in the safe-haven currency. With another hu
Published 02 Jul, 2011 12:00am
Early trade in New York: Euro hits three-week high

Early trade in New York: Euro hits three-week high

The euro headed for its first weekly rise in four weeks against the US dollar on Friday, but further gains looked limited by doubts Greece's debt crisis was over despite easing fears of an immediate default. The European single currency earlier climbed to
Published 02 Jul, 2011 12:00am
Euro at three-week high in New York

Euro at three-week high in New York

The euro leaped to a three-week high against the US dollar on Thursday, ending with gains for the month and the second quarter, buoyed by relief that Greece will avert an imminent default and on expectations that eurozone interest rates will rise again ne
Published 02 Jul, 2011 12:00am
Asian currencies: won nears three-year high

Asian currencies: won nears three-year high

The South Korean won hit a near three-year high on Friday and the Indonesian rupiah crossed a technical resistance line, leading gains in their Asian peers, helped by stock and bond inflows amid emerging expectations that China may be less aggressive in t
Published 02 Jul, 2011 12:00am
Yuan ends lower

Yuan ends lower

The yuan closed slightly lower against the dollar on Friday, despite the People's Bank of China fixing a near record high mid-point, as dealers became less certain over how quickly the Chinese currency would rise in the coming months. The market expects t
Published 02 Jul, 2011 12:00am
Sterling hovers near 15-month low

Sterling hovers near 15-month low

Sterling hovered near a 15-month low against the euro on Friday after a weak UK manufacturing survey backed the view that the Bank of England is likely to keep interest rates at record lows well into next year. The pound fell to its lowest since mid-March
Published 02 Jul, 2011 12:00am
Sharma takes 100, hails guidance from Zaheer

Sharma takes 100, hails guidance from Zaheer

India fast bowler Ishant Sharma gave credit on Friday to Zaheer Khan for saving his career. The 22-year-old fast bowler took a career-best six for 55 in the second Test against West Indies on Thursday at Kensington Oval, becoming the fifth youngest bowler
Published 02 Jul, 2011 12:00am
India extend lead to 73 on rain-hit fourth day

India extend lead to 73 on rain-hit fourth day

India steadily increased their lead, following an early setback, reaching 62 for one in their second innings in the rain-affected second Test against West Indies on Friday. Abhinav Mukund was not out on 27 and Rahul Dravid was not out on 18, taking the In
Published 02 Jul, 2011 12:00am
Djokovic powers into first Wimbledon final

Djokovic powers into first Wimbledon final

Novak Djokovic powered into his first Wimbledon final here Friday with a four-set defeat of France's Jo-Wilfried Tsonga which ensured he will take over the world number one ranking. The Serbian second seed downed the 12th seed Tsonga 7-6 (7/4), 6-2, 6-7 (
Published 02 Jul, 2011 12:00am
South Korea FA extends life bans to all forms of game

South Korea FA extends life bans to all forms of game

Players banned for life in the match-fixing scandal engulfing South Korean professional soccer have been told there will be no way back into the game in any role or at any level. The Korea Football Association (KFA) has adopted a zero tolerance policy aft
Published 02 Jul, 2011 12:00am
Sri Lanka says India broke promises

Sri Lanka says India broke promises

Sri Lanka's sports minister said Friday his country had organised its inaugural cricket premier league on the understanding that Indian players, who have since been banned from playing, would take part. Mahindananda Aluthgamage said he had written to his
Published 02 Jul, 2011 12:00am
PCB's Fast Track Coaching Programmes from July 3

PCB's Fast Track Coaching Programmes from July 3

Pakistan Cricket Board (PCB) Fast Track Coaching Programmes 2011/12 for fast bowlers, all rounders, middle order batsmen and spinners is being organised at National Cricket Academy from July 3. The Fast Track Coaching programme for fast bowler/batsman wil
Published 02 Jul, 2011 12:00am
Bangladesh football team reaches Lahore

Bangladesh football team reaches Lahore

Highly motivated with a 3-0 home victory over Pakistan, the Bangladesh national football team reached here on Friday to play their IInd World Cup pre-qualifying match against host Pakistan here on July 3. The officials of Pakistan Football Federation rece
Published 02 Jul, 2011 12:00am
Germany, France into quarter-finals

Germany, France into quarter-finals

European sides Germany and France booked the first two quarter-final spots in the women's World Cup from Group A on Thursday, eliminating Nigeria and Canada in contrasting fashion. France over-ran CONCACAF champions Canada 4-0 in Bochum to assure their fi
Published 02 Jul, 2011 12:00am
Record German viewers tune in

Record German viewers tune in

The women's World Cup is proving popular in football-mad Germany as nearly 20 million viewers tuned in to watch the host team beat Nigeria and set a new television record. Germany's 1-0 victory in Frankfurt on Thursday was watched by an average television
Published 02 Jul, 2011 12:00am
Sawa hat-trick fires Japan into World Cup quarters

Sawa hat-trick fires Japan into World Cup quarters

A hat-trick from skipper Homare Sawa and a first half Shinobu Ohno goal booked Japan a quarter-final berth at the women's World Cup with a 4-0 win over Mexico on Friday. It was a magnificent individual performance from Sawa, competing in her fifth World C
Published 02 Jul, 2011 12:00am
Doping hits Indian Olympic track medal hopes

Doping hits Indian Olympic track medal hopes

India's hopes of a coveted track medal at next year's Olympic Games in London have taken a hit after two of the country's Commonwealth Games and Asian Games gold medallists failed drug tests. The National Anti-Doping Agency (NADA) said that women's 4x400m
Published 02 Jul, 2011 12:00am
Sri Lanka's minister appoints new interim board

Sri Lanka's minister appoints new interim board

Sri Lanka's sports minister has appointed a new interim committee to run cricket in the island nation after dissolving the previous board following corruption allegations. "I have appointed the new interim committee today, with people who love cricket," S
Published 02 Jul, 2011 12:00am
Russia creates two brigades of Arctic troops

Russia creates two brigades of Arctic troops

Moscow will create two brigades to protect its valuable Arctic resources, Russia's defence minister said on Friday. Moscow has walked a fine line between co-operation and aggression in the Arctic which the world's top energy producer believes could hold h
Published 02 Jul, 2011 12:00am
Karzai tells Afghans to ditch lavish weddings

Karzai tells Afghans to ditch lavish weddings

President Hamid Karzai advised Afghans not to hold extravagant wedding parties saying in his weekly radio address to the nation on Friday that they were "against the national tradition." Since the fall of the Taliban nearly a decade ago, marriage ceremoni
Published 02 Jul, 2011 12:00am
Moroccans vote on changes to king's powers

Moroccans vote on changes to king's powers

Moroccans were tipped to pass a referendum on a revised constitution offered by King Mohammed to placate "Arab Spring" street protesters, despite boycott calls by opponents. The new charter grants the government executive powers, but retains the king at t
Published 02 Jul, 2011 12:00am
Roadside bomb kills 13 Afghan civilians

Roadside bomb kills 13 Afghan civilians

A roadside bomb has struck a passenger bus in south-western Afghanistan, killing at least 13 civilians, including women and children, and injuring 30 others, officials said Friday. The incident took place in the Deh Mazang area of Nimroz province late Thu
Published 02 Jul, 2011 12:00am
Clinton warns against sidelining women in Arab Spring

Clinton warns against sidelining women in Arab Spring

Women must not be sidelined by the new political systems being born from the Arab Spring, US Secretary of State Hillary Clinton told a conference of democratic nations Friday. "In the Middle East and North Africa, women have marched, blogged and put their
Published 02 Jul, 2011 12:00am
North Korea closes universities; students pick up tools

North Korea closes universities; students pick up tools

North Korea has told university students to put their studies on hold for a year to join efforts to revitalise its broken economy ahead of its heralded emergence next year as a "great and prosperous nation", a top diplomat and media reports said.
Published 02 Jul, 2011 12:00am
MA Final, Previous Exams from July 4

MA Final, Previous Exams from July 4

The M.A. Final and Previous External Annual Examination 2010 will commence from July 4. This was announced by the Controller of Examinations, Karachi University on Friday. The admit cards and examination programme have been dispatched to the candidates at
Published 02 Jul, 2011 12:00am
800 villages of Sindh electrified in 2010-11

800 villages of Sindh electrified in 2010-11

Sindh Power department has electrified more than 800 villages of the province in 2010-11 while work on electrification of more villages is underway. Sindh Chief Minister Syed Qaim Ali Shah had approved Rs 1000 million for electrification of villages of Si
Published 02 Jul, 2011 12:00am
Thousands march on Hong Kong handover anniversary

Thousands march on Hong Kong handover anniversary

Tens of thousands Friday took to Hong Kong's streets in a carnival-like atmosphere to mark an annual pro-democracy rally on the 14th anniversary of the former British colony's return to China. The noisy procession saw marchers clog the city's downtown are
Published 02 Jul, 2011 12:00am
Gaza flotilla activists rally outside US embassy in Greece

Gaza flotilla activists rally outside US embassy in Greece

French and US activists hoping to defy Israel and breach its sea blockade on Gaza rallied outside the US embassy in Athens on Friday to demand their aid flotilla be allowed to sail from Greece. Around 100 pro-Palestinians blocked traffic outside the embas
Published 02 Jul, 2011 12:00am
Yemenis turn Friday prayers to political rallies

Yemenis turn Friday prayers to political rallies

Tens of thousands of Yemenis turned Friday prayers into rallies for and against President Ali Abdullah Saleh who is recovering from injuries sustained in an assassination attempt earlier this month. Witnesses said Saleh opponents packed Sixty Street to li
Published 02 Jul, 2011 12:00am
11 die as half a million call for Assad to go

11 die as half a million call for Assad to go

Syrian security forces killed at least 11 people on Friday as more than half a million people took to the streets across the country to demand the departure of Bashar al-Assad, activists said. The protests came as US Secretary of State Hillary Clinton sai
Published 02 Jul, 2011 12:00am
Thousands push for reform in Tahrir Square

Thousands push for reform in Tahrir Square

Protesters converged on Cairo's Tahrir Square on Friday to join camping pro-democracy activists for a demonstration to keep up the pressure on the country's military rulers over the pace of reforms. Around 5,000 protesters were in the square including fam
Published 02 Jul, 2011 12:00am
Defiant Qadhafi threatens attacks in Europe

Defiant Qadhafi threatens attacks in Europe

A defiant Muammar Qadhafi has threatened to carry out attacks in Europe unless Nato halts its campaign of airstrikes against his regime in Libya. Qadhafi delivered the warning Friday in an audio message played to thousands of supporters gathered in the ma
Published 02 Jul, 2011 12:00am
Rockets push back rebels south of Tripoli

Rockets push back rebels south of Tripoli

Libyan rebels who had advanced to within 80 km (50 miles) of Muammar Qadhafi's stronghold in the capital were forced to retreat on Friday after coming under a barrage of rocket fire from government forces. The rebels' advance five days ago to the outskirt
Published 02 Jul, 2011 12:00am
Sarkozy attacker walks free with suspended jail term

Sarkozy attacker walks free with suspended jail term

A court Friday handed a six-month suspended jail term to a man who assaulted French President Nicolas Sarkozy, letting him walk free. The court in Agen, south-western France, sentenced Hermann Fuster, 32, over Thursday's surprise breach of presidential se
Published 02 Jul, 2011 12:00am
Panetta vows to keep US military 'strongest' in the world

Panetta vows to keep US military 'strongest' in the world

Defence Secretary Leon Panetta vowed Friday to keep the US military the "strongest" in the world despite budget pressures, after being sworn in as the new Pentagon chief. "As your leader, I will ensure that our nation continues to have the best-trained, b
Published 02 Jul, 2011 12:00am
New York cotton settles down

New York cotton settles down

US cotton futures ended lower on Friday, posting their fourth consecutive weekly loss, as fibre values continued to reel from demand destruction above the $2 per lb level. The market will be shut for the US Independence Day holiday on Monday and reopen on
Published 02 Jul, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

The most-active September copper contract on the Shanghai Futures Exchange fell to a session low of 69,530 yuan earlier in the session before paring losses and edging up 0.03 percent to close at 69,880 yuan. "The Chinese were selling on the LME today but
Published 02 Jul, 2011 12:00am
US copper rises

US copper rises

Copper ended up for a third straight day on Thursday, rallying to its highest in two months, as risk sentiment remained at a high after the safe passage of Greece's austerity plan. The three-day rally helped copper hold basically unchanged in the second q
Published 02 Jul, 2011 12:00am
Copper steadies

Copper steadies

Copper steadied on Friday after mixed data showed the pace of manufacturing growth in the United States had increased in June, but that factory activity in top metals consumer China had slowed raising concerns about demand. Three-month copper on the Londo
Published 02 Jul, 2011 12:00am
Brent, US crude fall

Brent, US crude fall

Oil fell on Friday on signs of slower growth in China and weaker US consumer sentiment, offsetting a supportive report showing an improving manufacturing sector in the United States. An intraday bounce by the dollar against the euro and the strength of th
Published 02 Jul, 2011 12:00am
Tokyo rubber dips, Shanghai up

Tokyo rubber dips, Shanghai up

Tokyo rubber futures edged lower on Friday due to a fall in oil prices and an increase in rubber supply from big producing countries, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for December delivery fell 0.8 yen to settle
Published 02 Jul, 2011 12:00am
Malaysian palm oil tumbles

Malaysian palm oil tumbles

Malaysian palm oil futures hit their lowest in more than eight months on Friday, tracking falling overseas markets after key US data showed higher-than-expected crop prospects and stock levels. The US Agriculture Department's annual acreage and quarterly
Published 02 Jul, 2011 12:00am
New York sugar tumbles

New York sugar tumbles

Raw sugar futures changed direction and tumbled to close down 2.2 percent on Thursday, after the spot contract fell from a near four-month high on its last trading day. Arabica coffee futures settled higher on month-end short-covering and some concern tha
Published 02 Jul, 2011 12:00am
Liffe sugar jumps

Liffe sugar jumps

Liffe August white sugar closes $30.60 higher at $769.60 per tonne on Friday. Market supported by tight nearby supplies as delays to Brazil's harvest underpinned the market. Liffe September cocoa ended 9 pounds higher at 1,992 pounds a tonne. Market suppo
Published 02 Jul, 2011 12:00am
US gold falls

US gold falls

Gold fell on the last day of the quarter on Thursday, as hopes that Greece would avoid a debt default eroded safe-haven interest, but secured an 11th consecutive quarterly gain on global economic uncertainty. Spot gold was down 0.7 percent at $1,500.79 an
Published 02 Jul, 2011 12:00am
Gold steadies in Asia

Gold steadies in Asia

Spot gold held steady on Friday, set to cap a week marked by a narrow trading range as Greece's approval of austerity measures diminished safe-haven demand for bullion in the short term. Spot gold was little changed at $1,498.70 an ounce by 0602 GMT, near
Published 02 Jul, 2011 12:00am
Gold plunges in Europe

Gold plunges in Europe

Gold fell more than 1 percent on Friday to a six-week low, hurt by a drop in oil prices, gains in the dollar versus a currency basket, and Greece's approval of an austerity package, which cut the metal's appeal as a haven from risk. Spot gold fell as low
Published 02 Jul, 2011 12:00am
US MIDDAY: sugar rises

US MIDDAY: sugar rises

Raw sugar futures rose early on Friday, rebounding from an early drop on concern over the uncertain Brazil crop size; coffee fell, following the weak commodity complex. Cocoa closed higher as late-day buying fuelled a rebound from an early decline.
Published 02 Jul, 2011 12:00am
US MIDDAY: corn tumbles

US MIDDAY: corn tumbles

Corn futures tumbled for a second day in a row on Friday, falling more than 4 percent a day after a government report showed improved crop and supply prospects in the United States. Soybeans bounced back from a sell-off on Thursday fuelled by the US Depar
Published 02 Jul, 2011 12:00am
US MIDDAY: copper up

US MIDDAY: copper up

Copper started the new trading month on a firm footing on Friday, ending up for a fourth straight session as economic confidence improved on the back of stronger manufacturing data from the United States. In New York, the September COMEX contract settled
Published 02 Jul, 2011 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

Gold fell around 1 percent on Friday to record its second straight weekly loss, dragged down by fund selling amid commodity weakness and as safe-haven buying faded after Greece's approval of an austerity package. Bullion came under pressure as Wall Street
Published 02 Jul, 2011 12:00am
Sindh University exams schedule

Sindh University exams schedule

Controller of Examinations, Sindh University (SU) has notified the schedule for LL.M previous and final examination 2010 here on Friday. According to an announcement the LL.M previous examination 2010 will be conducted from July 5 at the Institute of Law
Published 02 Jul, 2011 12:00am
Punjab government evolves strategy to eliminate bonded labour

Punjab government evolves strategy to eliminate bonded labour

Punjab Government has evolved a comprehensive strategy to eliminate the curse of bonded labour from the province and educational and social reforms are being introduced at the brick kilns under the reforms agenda.
Published 02 Jul, 2011 12:00am
Summit Bank, Mybank merger to make accelerated progress

Summit Bank, Mybank merger to make accelerated progress

From July 1, 2011, Summit Bank Ltd (formerly Arif Habib Bank Ltd) and Mybank Ltd have officially merged and started operating as a single bank under the name of Summit Bank. The completion of the legal merger means that the two banks can now make accelera
Published 02 Jul, 2011 12:00am
Irrigation department fails to complete rehabilitation of dykes

Irrigation department fails to complete rehabilitation of dykes

Sindh Irrigation department has failed again to meet the deadline to complete 41 rehabilitation schemes of Indus and non-Indus dykes, reliable sources told Business Recorder. The authorities of Irrigation department had announced that on-going reha
Published 02 Jul, 2011 12:00am
Better sugar output expected this year

Better sugar output expected this year

Sugar production is likely to jump to 4.6 million tons in country after the start of new crushing season (2011-12) which is 15 percent higher than the last year's 4.1 million tons learned Business Recorder on Friday. The sugar production would go u
Published 02 Jul, 2011 12:00am
Tribes reach ceasefire accord

Tribes reach ceasefire accord

Elders of Gashkori and Bangalzai tribes in Sibi have reached an agreement to implement ceasefire for period of one month. According to a statement issued here on Friday, elders of Bangalzai tribe along with a "Balochi Mairh" called on former district naib
Published 02 Jul, 2011 12:00am
CDNS collects Rs 3.823 billion on account of WHT

CDNS collects Rs 3.823 billion on account of WHT

It is a matter of immense pleasure and absolute proud to announce that the National savings, one of the leading withholding tax collecting agency, likewise past, once again stood firm with FBR to help achieve its Revenue target by contributing Rs 3.823 bi
Published 02 Jul, 2011 12:00am
PTCL launches Super Sunday offer

PTCL launches Super Sunday offer

Pakistan Telecommunication Company Limited (PTCL) has launched a countrywide new exciting Super Sunday offer, which has especially been designed to encourage its existing and potential PTCL landline customer. The PTCL landline customers will now be able t
Published 02 Jul, 2011 12:00am
Great potential for selling Halal products in Thailand

Great potential for selling Halal products in Thailand

Demand for Halal certified food and other Halal products is increasing in Thailand among Muslim and non-Muslim consumers and Pakistani manufacturers and exporters of Halal food can capture this market. This was stated by Secretary General and CEO of Halal
Published 02 Jul, 2011 12:00am
Khyber Pakhtunkhwa Textbook Board gets Hindko primer

Khyber Pakhtunkhwa Textbook Board gets Hindko primer

An elementary textbook of Hindko language for school children has been published and handed over to the Khyber Pukhtunkhwa (KP) Textbook Board. The book is written by a noted Hindko writer, poet, linguist and research scholar, Professor Dr Elahi Bakhsh Aw
Published 02 Jul, 2011 12:00am
ATCA demands withdrawal of six percent tax from contractors

ATCA demands withdrawal of six percent tax from contractors

Laiq Marjan, President All Tribal Contractors Association (ATCA), FATA has called for withdrawal of illegal six percent tax collection from contractors and demanded for release of their pending amount with Federal Government forthwith, and warned if their
Published 02 Jul, 2011 12:00am
Eight killed in religious groups' clashes

Eight killed in religious groups' clashes

At least eight persons were killed and over a dozen injured in armed clashes between different religious groups in various areas of the city during the last 24 hours, police said. According to details, the clashes between the activists of Jamat-ud-Dawa an
Published 02 Jul, 2011 12:00am
One killed in landmine blast

One killed in landmine blast

One person was killed in landmine blast in Yaro area of Dera Bugti on Friday. "Unidentified men had planted landmine on the road in Yaro area and it exploded when foot of a passer-by hit it", police said. As a result of explosion, the passerby sustained w
Published 02 Jul, 2011 12:00am
BoK, SHMA to implement essentials core banking system

BoK, SHMA to implement essentials core banking system

The Bank of Khyber (BoK) and Sidat Hyder Morshed Associates (SHMA) have entered into an agreement to implement bank essentials core banking system across the entire bank. The agreement was signed by Feisal Khan, Divisional Head IT BoK and Arshad Hussain,
Published 02 Jul, 2011 12:00am
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