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Print - 2011-07-16
Citigroup profit surges

Citigroup profit surges

US banking giant Citigroup on Friday posted a strong rise in second-quarter profit, as falling credit losses offset a drop in revenues. Net income increased to $3.3 billion in the April-June period, marking a 24 percent jump from $2.7 billion in the same
Published 16 Jul, 2011 12:00am
Punjab government criticised for its action against traders

Punjab government criticised for its action against traders

PML-Q leader and senior federal minister Chaudhry Pervaiz Elahi has criticised Punjab government for brutal operation against traders to shift fruit market in the city. He was talking to a delegation of traders from the Kot Lakhpat fruit market. Haji Muha
Published 16 Jul, 2011 12:00am
Polio campaign in Punjab from September 18

Polio campaign in Punjab from September 18

Like other parts of the country, a three-day national immunisation campaign against polio would be launched across the Punjab province from July 18 to 20. During the campaign, more than 16 million children up to five years of age would be administered pol
Published 16 Jul, 2011 12:00am
Power situation improves

Power situation improves

Power situation improved marginally Friday with increase in thermal generation, reducing the shortfall to 5166MW against 5825MW a day earlier. The thermal generation stood at 1816MW against 1712MW that improved the power situation marginally. Still, power
Published 16 Jul, 2011 12:00am
Ramzaan Bazaars: people to get items on concessionary rates

Ramzaan Bazaars: people to get items on concessionary rates

On the instructions of Punjab Chief Minister Muhammad Shahbaz Sharif, sugar, ghee, poultry and other commodities will be provided to the consumers on concessionary rates in Ramzaan Bazaars. This was stated by Member National Assembly Bilal Yaseen while pr
Published 16 Jul, 2011 12:00am
Wateen launches WiMAX services in Mandi Bahauddin

Wateen launches WiMAX services in Mandi Bahauddin

Wateen Telecom Ltd, Pakistan's leading telecommunications company, has now launched its WiMAX services in Mandi Bahauddin in collaboration with Universal Service Fund (USF). Wateen's WiMAX network is the largest in the country and the addition of Mandi Ba
Published 16 Jul, 2011 12:00am
US MIDDAY: gold matches record winning run

US MIDDAY: gold matches record winning run

Gold rose for a tenth straight session on Friday, matching a record winning streak set four decades ago, as fears over debt talks aimed at averting a US government defaullt fuelled the precious metal Safe-haven buying increased after President Barack Obam
Published 16 Jul, 2011 12:00am
US MIDDAY: copper stays up

US MIDDAY: copper stays up

Copper ended up for its third straight week on Friday, showing a further resilience to bend amid macro-economic concerns and a still-uncertain Asian demand outlook. In New York, the benchmark September COMEX contract settled up 3.30 cents at $4.4130 per l
Published 16 Jul, 2011 12:00am
US MIDDAY: corn soars

US MIDDAY: corn soars

Corn futures rose on Friday, extending gains in a weather-fuelled rally that has pointed the market toward a 4 percent weekly rise. Chicago Board of Trade soyabeans also rose on the hot forecast while wheat dipped on concerns about US exports. Chicago Boa
Published 16 Jul, 2011 12:00am
US MIDDAY: sugar rises

US MIDDAY: sugar rises

Raw sugar futures on ICE turned higher early on Friday with the market showing signs of resuming its uptrend after suffering a technically driven setback. October raw sugar on ICE was up 0.51 cent or 1.8 percent at 29.53 cents a lb at 1403 GMT, rebounding
Published 16 Jul, 2011 12:00am
Gold slips in Europe

Gold slips in Europe

Gold slipped on Friday undermined by growing perceptions further stimulus measures from the United States were unlikely and by a higher dollar against the euro, which was under pressure from concern about the results of European bank stress tests.Spot gol
Published 16 Jul, 2011 12:00am
Gold pauses in Asia

Gold pauses in Asia

Gold took a breather on Friday, after setting record highs for two consecutive sessions, as dashed hopes for additional US stimulus measures took some heat off, although the eurozone debt crisis and uncertainties on US deficit talks continued to support s
Published 16 Jul, 2011 12:00am
US gold hits record again

US gold hits record again

Gold hit a second consecutive record high on Thursday as mounting concerns over a worsening eurozone debt crisis and fears of US default powered the metal's longest winning streak in five years. Bullion notched a ninth straight day of gains, the longest s
Published 16 Jul, 2011 12:00am
Liffe sugar eases

Liffe sugar eases

Liffe October white sugar ended down $8.80 at $755.70 a tonne on Friday, tracking weakness in the ICE market. The August contract expired earlier in the session with dealers expecting around 200,000 to 300,000 tonnes to be tendered against the contract. L
Published 16 Jul, 2011 12:00am
Malaysian palm oil retreats

Malaysian palm oil retreats

Malaysian palm oil futures retreated on Friday on expectations of higher supply and an uncertain global economic outlook. Traders largely ignored strong export data, focusing instead on the debt crises in the eurozone and the United States that may slow g
Published 16 Jul, 2011 12:00am
New York sugar, coffee and cocoa down

New York sugar, coffee and cocoa down

Raw sugar futures tumbled Thursday on speculative sales on profit-taking after hitting near a five-month high in the previous session. Cocoa and arabica coffee futures also fell, as the softs complex also came under pressure from a firm dollar. Key Octobe
Published 16 Jul, 2011 12:00am
Tokyo rubber up; Shanghai falls

Tokyo rubber up; Shanghai falls

Tokyo rubber futures ended higher on Friday as rebounding oil prices lent support, but profit-taking ahead of the weekend limited gains, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for December delivery rose 3.0 yen to sett
Published 16 Jul, 2011 12:00am
Oil rises on lower Canadian supply, equities

Oil rises on lower Canadian supply, equities

Oil rose on Friday on lower supplies for a Canadian export pipeline and Wall Street's advance on favourable results of a stress test on European banks, which offset a rash of weak US economic data. Oil got an early lift after Google and Citigroup reported
Published 16 Jul, 2011 12:00am
Copper moves higher

Copper moves higher

Copper rose on Friday after data showed US consumer prices fell slightly more than expected, but late in the day it pared gains as the dollar rose on fears about the results of European bank stress tests. Three-month copper on the London Metal Exchange cl
Published 16 Jul, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

The most-active September copper contract on the Shanghai Futures Exchange fell 0.7 percent to close the session at 71,640 yuan per tonne on Friday." The possibility of QE3 wasn't clear in the first place, so now that it's taken off the table, it doesn't
Published 16 Jul, 2011 12:00am
US copper down

US copper down

Copper closed down on Thursday as questions about the economic health of the Western world gave pause to a surprisingly strong summer rally that lifted prices to within 5 percent of all-time highs. "Basically what we are looking at right now is double-edg
Published 16 Jul, 2011 12:00am
New York cotton down, posts biggest weekly loss since 2008

New York cotton down, posts biggest weekly loss since 2008

Cotton futures closed down their 5-cent limit Friday, hit by a massive wave of investor liquidation in the December/March spread which kept fibre values pinned at 9-month lows. It was the sixth straight weekly loss for cotton and the biggest single weekly
Published 16 Jul, 2011 12:00am
US sour on Arab UN bid for Palestinian statehood

US sour on Arab UN bid for Palestinian statehood

The United States said Thursday that it disagreed with the Arab League after it said it would submit a request for recognition of a Palestinian state to the United Nations." We do not believe attempts to resolve final status issues in international bodies
Published 16 Jul, 2011 12:00am
Cambodia protests over US cable's Khmer Rouge claim

Cambodia protests over US cable's Khmer Rouge claim

Cambodia's foreign minister has strongly protested to US officials over a leaked diplomatic cable repeating allegations that he was a former Khmer Rouge prison chief, his department said Friday. Hor Namhong summoned the US Charge d'Affaires in Phnom Penh,
Published 16 Jul, 2011 12:00am
US state strikes deal to end government shutdown

US state strikes deal to end government shutdown

Deeply divided lawmakers in the US state of Minnesota struck a deal late Thursday to end a two-week government shutdown after a months-long budget battle that mirrored the gridlock in Washington. The deal by Governor Mark Dayton and Republican leaders wil
Published 16 Jul, 2011 12:00am
India asks Sri Lanka to probe war crimes claims

India asks Sri Lanka to probe war crimes claims

India on Friday urged Sri Lanka to examine claims made in a British documentary that said it targeted civilians while crushing Tamil Tiger rebels two years ago. The Channel 4 documentary, "Sri Lanka's Killing Fields" aired last month on British television
Published 16 Jul, 2011 12:00am
BBC journalists strike over job losses

BBC journalists strike over job losses

BBC journalists began a 24-hour strike on Friday in a row over job losses, disrupting some of the British broadcaster's flagship programmes. Picket lines were mounted outside studios across the country and union officials said the action, which began at m
Published 16 Jul, 2011 12:00am
US may pull tactical nuclear out of Europe

US may pull tactical nuclear out of Europe

The United States is in talks with Nato to remove US tactical nuclear weapons from Europe, in a push toward a nuclear-weapons-free world and to cut costs, a Japanese newspaper said Friday. Washington is talking with other Nato member nations about the wit
Published 16 Jul, 2011 12:00am
China oil spill six times size of Singapore

China oil spill six times size of Singapore

A huge oil spill off the Chinese coast has now contaminated an area around six times the size of Singapore, state media reported Friday, as the government said it may seek compensation for the leak. The spill from the oil field, which the United States' C
Published 16 Jul, 2011 12:00am
Iraq bombs kill five

Iraq bombs kill five

A car bomb and improvised explosives killed at least five people and wounded 23 in Baghdad and southern Iraq on Friday, with three Shia pilgrims among the dead, security officials said. "A car bomb killed three people and wounded 20 people inside a bus st
Published 16 Jul, 2011 12:00am
20 killed in biggest Syrian protests so far

20 killed in biggest Syrian protests so far

Syrian security forces shot dead at least 20 protesters on Friday as hundreds of thousands of people staged the biggest protests so far against President Bashar al-Assad, witnesses and rights groups said. Assad, facing the greatest challenge to 40 years o
Published 16 Jul, 2011 12:00am
Cost of living in US falls for first time in a year

Cost of living in US falls for first time in a year

Overall prices in the United States fell in June by 0.2 per cent, the first decline in a year thanks to the largest decrease in energy costs since 2008. But the overall inflation rate remained steady at a year-on-year rate of 3.6 per cent as costs for oth
Published 16 Jul, 2011 12:00am
Shelling, ambush kill seven in Yemen

Shelling, ambush kill seven in Yemen

Armed men supporting protesters trying to topple Yemen's President Ali Abdullah Saleh killed a security chief and two bodyguards in Taiz on Friday, an official said, and four civilians were killed by mortar rounds. Up to 7,000 protesters took to the stree
Published 16 Jul, 2011 12:00am
Murdoch aide Brooks quits as head of UK newspapers

Murdoch aide Brooks quits as head of UK newspapers

Rebekah Brooks resigned as chief executive of News International on Friday, yielding to political and investor pressure over a phone hacking scandal that has shaken Rupert Murdoch's media empire on both sides of the Atlantic.
Published 16 Jul, 2011 12:00am
Iran installs more advanced centrifuges for testing

Iran installs more advanced centrifuges for testing

Iran is stepping up centrifuge development work aimed at making its nuclear enrichment more efficient, diplomats say, signalling a possible advance in the Islamic Republic's disputed atomic programme. Two newer and more advanced models of the breakdown-pr
Published 16 Jul, 2011 12:00am
'Hakumat Hatao Mulk Bachao': PTI's drive to begin from Ramazan

'Hakumat Hatao Mulk Bachao': PTI's drive to begin from Ramazan

Pakistan Tehreek-e-Insaf's (PTI) Central Leadership unveiled the plan for holding protest demonstrations in Islamabad during the month of Ramazan. The planned demonstrations in Islamabad are part of PTI's "Hakumat Hatao Mulk Bachao." This was announced du
Published 16 Jul, 2011 12:00am
'Cost of Doing Business in Pakistan' edition released

'Cost of Doing Business in Pakistan' edition released

Engineering Development Board (EDB) here on Friday released "Cost of Doing Business in Pakistan" June 2011 edition containing basic business related information. The 25 pages' booklet contains information on different factors of cost, pricing, tariff rate
Published 16 Jul, 2011 12:00am
Another gas pipeline blown up in Dera Bugti

Another gas pipeline blown up in Dera Bugti

Unidentified men blew up 16-inch diameter gas pipeline of Well No 69 in Sui Plant area of Dera Bugti on Friday. According to police, unidentified men had attached explosive materials with gas pipeline, which was detonated. The blast damaged 16-inch diamet
Published 16 Jul, 2011 12:00am
Agriculture inputs providers: withdrawal of 16 percent GST demanded

Agriculture inputs providers: withdrawal of 16 percent GST demanded

Farmers' representatives from the four provinces, fertiliser and tractors manufacturers and other agriculture related inputs providers have stressed upon the government to immediately withdraw 16 percent general sales tax (GST) to save the agriculture sec
Published 16 Jul, 2011 12:00am
CDNS officer given farewell party

CDNS officer given farewell party

Liaqat Ali, Director (Administration), BPS-19 officer of the Central Directorate of National Savings (CDNS) has retired after rendering more than 41 years of service, says a press release on Friday. In this connection, a farewell party was arranged in his
Published 16 Jul, 2011 12:00am
Jordan police beat nine journalists covering demonstration

Jordan police beat nine journalists covering demonstration

At least 16 people, including journalists and policemen, were injured on Friday when police tried to stop clashes between pro-reform demonstrators and government supporters in central Amman. Police used batons to break up the clashes outside city hall, be
Published 16 Jul, 2011 12:00am
Suspect in 1991 Soviet crackdown arrested in Austria

Suspect in 1991 Soviet crackdown arrested in Austria

A former Soviet security officer wanted in Lithuania over Moscow's bloody 1991 crackdown against the Baltic state's independence drive has been arrested in Austria, the prosecutor said Friday. "One of the suspects in the 'January 13 case' was arrested yes
Published 16 Jul, 2011 12:00am
Thousands rally for political reform in Bahrain

Thousands rally for political reform in Bahrain

Tens of thousands of Bahrainis shouting "one man, one vote" attended a rally for political reform held by a leading opposition party on Friday, days before the group decide whether to pull out of national reform talks. Bahrain's Sunni rulers have launched
Published 16 Jul, 2011 12:00am
Scottish couple wins record European lottery jackpot

Scottish couple wins record European lottery jackpot

The winners of Europe's biggest ever lottery jackpot see their future as "bright and golden" after winning 161,653,000 pounds ($260.58 million) in the Euromillions draw, they told a news conference on Friday. Colin Weir, 64, and his wife Chris, 55, from t
Published 16 Jul, 2011 12:00am
US probes Credit Suisse for aiding tax evasion

US probes Credit Suisse for aiding tax evasion

Swiss bank Credit Suisse is being probed by the US Department of Justice as part of a broader investigation into banks suspected of helping Americans evade taxes. Credit Suisse said on Friday it had received a letter saying it was a target of a DoJ invest
Published 16 Jul, 2011 12:00am
Obama aims for Mars; computer alarm wakes Atlantis crew

Obama aims for Mars; computer alarm wakes Atlantis crew

US Presi-dent Barack Obama Friday vowed to the crew of NASA's final shuttle mission, Atlantis, that the US would push "new frontiers in human space flight" even as the shuttle programme ends. "I've tasked NASA with the ambitious new mission (of exploratio
Published 16 Jul, 2011 12:00am
Americans credit freedom and spirit for success

Americans credit freedom and spirit for success

The United States face Japan Sunday in search of their third women's World Cup title and while technique and tactics have played a role in their march to the final, it is a sense of freedom and spirit that the team credits for their success in Germany.
Published 16 Jul, 2011 12:00am
McIlroy on the move at British Open

McIlroy on the move at British Open

Rory McIlroy started to work his way up the British Open leaderboard in Friday's second round as he looked to follow up his US Open win with another Major title four weeks later. The 22-year-old Ulsterman produced a mixed bag in Thursday's opening round,
Published 16 Jul, 2011 12:00am
Strauss salutes maestro Tendulkar

Strauss salutes maestro Tendulkar

England Test captain Andrew Strauss has saluted India icon Sachin Tendulkar as the legendary batsman prepares to chase his 100th international hundred in the forthcoming series between the sides. Tendulkar has notched 51 Test and 48 one-day centuries and
Published 16 Jul, 2011 12:00am
Argentina look to Messi to quell Uruguay threat

Argentina look to Messi to quell Uruguay threat

Argentina and Uruguay will renew their historic rivalry when they clash in Saturday's Copa America quarter-finals with all eyes on potential match-winners Lionel Messi and Diego Forlan. Uruguay won the first Copa America in 1916 and kept their momentum go
Published 16 Jul, 2011 12:00am
Strauss gets back on track against India

Strauss gets back on track against India

England Test captain Andrew Strauss warmed up for next week's first Test against India by scoring a quick-fire 78 for Somerset against the tourists at Taunton on Friday. Strauss has made a brief loan move to Somerset from Middlesex in the hope of rediscov
Published 16 Jul, 2011 12:00am
Hushovd stuns Roy as Voeckler keeps yellow jersey

Hushovd stuns Roy as Voeckler keeps yellow jersey

Norwegian Thor Hushovd of Garmin-Cervelo continued his dream Tour de France with victory in the 13th stage from Pau to Lourdes on Friday. Frenchman Thomas Voeckler, of Europcar, retained the race leader's yellow jersey after arriving with the main peloton
Published 16 Jul, 2011 12:00am
UDRS too costly for cash-strapped Sri Lanka

UDRS too costly for cash-strapped Sri Lanka

Sri Lanka will not use the Umpire Decision Review System (UDRS) for Australia's forthcoming cricket tour because of the cost of the system, the country's governing body said Friday. "We won't be using UDRS when Australian tours Sri Lanka this month," Sri
Published 16 Jul, 2011 12:00am
New coach for Aussie tour appointed

New coach for Aussie tour appointed

Sri Lanka Cricket on Friday appointed former fast bowler Rumesh Ratnayake as interim coach for an upcoming home series against Australia. "Rumesh will handle only the Australian tour of Sri Lanka. We are still on the look out for a foreign coach," Sri Lan
Published 16 Jul, 2011 12:00am
Delayed start to Sri Lanka Twenty20 league

Delayed start to Sri Lanka Twenty20 league

Sri Lanka's cricket authorities on Friday announced a delayed start to its scaled down Twenty20 premier league, without the expected international players. The inter-provincial Twenty20 tournament will start on Thursday, two days behind the original sched
Published 16 Jul, 2011 12:00am
Test match landmarks at Lord's

Test match landmarks at Lord's

Landmarks in Test history ahead of the 2,000th Test, between England and India, at Lord's starting on Thursday: 1877: Australia and England play what is later recognised as the first Test at the Melbourne Cricket Ground. Charles Bannerman scores the first
Published 16 Jul, 2011 12:00am
Harper fires broadside at ICC over Dhoni comments

Harper fires broadside at ICC over Dhoni comments

Retired Australian umpire Daryl Harper has accused cricket authorities of being too lenient on India's player and claimed their captain Mahendra Singh Dhoni had put undue pressure on him in last month's Jamaica Test, local media reported on Friday.
Published 16 Jul, 2011 12:00am
Blackburn agree deal for Argentine striker Pavone

Blackburn agree deal for Argentine striker Pavone

English Premier League club Blackburn Rovers agreed a deal to sign Argentine striker Mariano Pavone on a free transfer on Friday. Pavone is out of contract after buying out the last year of his deal with Spanish club Real Betis following a loan spell at R
Published 16 Jul, 2011 12:00am
Interbank rates hover at highest levels in over two years

Interbank rates hover at highest levels in over two years

Key euro-priced interbank lending rates hovered at their highest levels in over two years on Friday ahead of European bank stress test results which could provide some reassurance to the bruised interbank market. The latest round of eurozone banking stres
Published 16 Jul, 2011 12:00am
Asian currencies ease

Asian currencies ease

Asian currencies were steady to easier against the dollar on Friday, with the Singapore dollar pulling back from a record high, as investors turned cautious ahead of the release of European banks' stress test results later in the day. The Singapore dollar
Published 16 Jul, 2011 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened on Friday weighed down by losses in local shares and oil importers' demand for the dollar, but came off the day's low as the euro steadied against the greenback. The partially convertible rupee closed 44.5325/5425 per dollar, 0.1
Published 16 Jul, 2011 12:00am
Australian and New Zealand dollar up

Australian and New Zealand dollar up

The New Zealand and Australian dollars firmed on Friday after the US currency dipped following another threat of a ratings downgrade for the United States, though trade was thin ahead of the release of European bank stress tests. The Australian dollar nud
Published 16 Jul, 2011 12:00am
Swiss franc hovers near record peak

Swiss franc hovers near record peak

The Swiss franc hovered near its record highs against the dollar and euro on Friday, as investors took stock ahead of Europe-wide bank stress tests after a week of hefty gains. At 0710 GMT, the franc ticked 0.2 percent lower against the dollar compared to
Published 16 Jul, 2011 12:00am
Dollar springs back

Dollar springs back

The dollar gained against the euro and rallied from record lows versus the Swiss franc on Thursday after the Federal Reserve chief dampened growing expectations another round of monetary easing was imminent.
Published 16 Jul, 2011 12:00am
Midday trade in New York: Euro weakens for second day

Midday trade in New York: Euro weakens for second day

The euro fell against the dollar for a second straight day on Friday, weighed down by concerns about European bank stress test results due later in the day and unexpectedly weak US data that fuelled risk aversion. Traders, however, cited talk that banks f
Published 16 Jul, 2011 12:00am
Euro steadies in London

Euro steadies in London

The euro steadied against the dollar on Friday, as fears the results of European bank stress tests due later in the day could further sour sentiment towards the currency were tempered by concerns about US debt after a rating agency warning. With worries a
Published 16 Jul, 2011 12:00am
Dollar stabilises in Asia

Dollar stabilises in Asia

The dollar steadied in Asia on Friday after the impact from a Standard and Poor's warning that it could cut US credit ratings was short-lived, and investors bought back the US currency as they shifted their focus to stress tests on European banks. The rat
Published 16 Jul, 2011 12:00am
Sterling rises versus euro

Sterling rises versus euro

Sterling punched a one-month high against the euro on Friday as investors cut positions in the single currency ahead of European bank stress test results, with fears the eurozone debt crisis may spread still hampering sentiment.
Published 16 Jul, 2011 12:00am
Yuan lower

Yuan lower

The yuan closed down slightly versus the dollar on Friday as the People's Bank of China pulled the yuan's mid-point back from a record high, suggesting the authorities may temper the currency's pace of appreciation, traders said. Yuan gains appear to be s
Published 16 Jul, 2011 12:00am
Bank stress test nerves deepen FTSE gloom

Bank stress test nerves deepen FTSE gloom

Britain's top shares edged lower on Friday, having posted their biggest weekly decline in four months, as worries about bank stress test results due after the market close took their toll on investor sentiment. The UK benchmark index ended 3.29 points, or
Published 16 Jul, 2011 12:00am
Australian shares fall

Australian shares fall

Australian stocks closed 0.4 percent lower on Friday as eurozone debt fears continued to weigh on the local market and miner BHP Billiton lost traction after announcing a $12.1 billion take-over bid for shale gas firm Petrohawk. BHP shares finished 1.6 pe
Published 16 Jul, 2011 12:00am
Indian shares post first weekly fall in four

Indian shares post first weekly fall in four

Indian shares logged their first weekly decline in four and shed 0.3 percent on Friday, as foreign funds opted to lock in gains, with investor caution seen rising ahead of the central bank's policy review this month. Top software services exporter Tata Co
Published 16 Jul, 2011 12:00am
European stocks take heaviest weekly fall

European stocks take heaviest weekly fall

European stocks slid on Friday and posted their biggest weekly loss in four months, with peripheral European shares knocked lower ahead of the results from Europe's bank stress tests which came out after the bell. Of 90 banks tested, five in Spain, two in
Published 16 Jul, 2011 12:00am
Hong Kong shares slide, construction names buoy Shanghai stocks

Hong Kong shares slide, construction names buoy Shanghai stocks

Hong Kong shares fell on Friday, dragged down by Chinese property stocks after Beijing extended home purchase restrictions to cool surging property prices, with the Hang Seng Index posting its biggest weekly decline since March. On top of the worsening eu
Published 16 Jul, 2011 12:00am
Seoul shares rally

Seoul shares rally

Seoul shares closed higher on Friday, as bargain hunters chased battered technology shares such as LG Electronics and SK Telecom, betting the market will regain its footing after logging its first weekly drop in three weeks. The Korea Composite Stock Pric
Published 16 Jul, 2011 12:00am
US bonds fizzle

US bonds fizzle

US Treasuries prices fell on Thursday, despite solid demand at a 30-year bond auction after Moody's Investors Service placed the United States' top-notch credit rating on review. Vigorous bidding for this week's entire $66 billion worth of government debt
Published 16 Jul, 2011 12:00am
US bonds fizzle

US bonds fizzle

US Treasuries prices fell on Thursday, despite solid demand at a 30-year bond auction after Moody's Investors Service placed the United States' top-notch credit rating on review. Vigorous bidding for this week's entire $66 billion worth of government debt
Published 16 Jul, 2011 12:00am
Bernanke halts Wall Street rally; Google jumps

Bernanke halts Wall Street rally; Google jumps

US stocks fell on Thursday as Fed Chairman Ben Bernanke backed off hints additional near-term stimulus could be on the way, removing a possible catalyst from a market already facing plenty of obstacles. Technology shares led the market lower and the Nasda
Published 16 Jul, 2011 12:00am
Friday's early afternoon trade: stocks advance slightly

Friday's early afternoon trade: stocks advance slightly

US stocks advanced slightly in volatile trading on Friday after results from the European banks' stress tests came out slightly better than expected. Wall Street started off higher, boosted by strong earnings from Google and Citigroup but soon gave up gai
Published 16 Jul, 2011 12:00am
Nikkei edges up

Nikkei edges up

The Nikkei share average rose on Friday, buoyed by European investors scooping up cyclical shares, but was capped by the top of the narrow range it has traded in for most of the week, with the majority of big players on the sidelines ahead of bank stress
Published 16 Jul, 2011 12:00am
Obama dismisses Republican plan without tax hikes

Obama dismisses Republican plan without tax hikes

US President Barack Obama said Friday that Republican proposals for a budget deal without tax increases was not a serious plan. "That doesn't seem like a serious plan to me," Obama told a White House press conference, as he warned US lawmakers that the na
Published 16 Jul, 2011 12:00am
Chinese store under fire over 'fake' imports

Chinese store under fire over 'fake' imports

A Chinese retailer is being investigated over claims it passed off locally-made furniture as high-end Italian imports by shipping it back into the country to get import documents. Da Vinci is alleged to have charged thousands of dollars for furniture labe
Published 16 Jul, 2011 12:00am
China signs deals with UAE, Cyprus on bank oversight

China signs deals with UAE, Cyprus on bank oversight

China's bank regulator has signed agreements with the United Arab Emirates and Cyprus to share banking information and increase co-ordination in times of crisis. China Banking Regulatory Commission (CBRC) already has such agreements with 46 nations includ
Published 16 Jul, 2011 12:00am
Gloomy US consumers cast dark cloud over economy

Gloomy US consumers cast dark cloud over economy

US consumer confidence hit a near 2-1/2 year low in early July and manufacturing output stalled in June, further frustrating expectations of a quick economic growth rebound in the second half of the year. Worries about stubbornly high unemployment pushed
Published 16 Jul, 2011 12:00am
Spain launches airport sell-off

Spain launches airport sell-off

The Spanish government Friday took the first step in the partial privatisation of the airport operating authority AENA as well as of the Madrid and Barcelona airports. The government hopes the sale of the airports in Spain's two largest cities will bring
Published 16 Jul, 2011 12:00am
EU car sales see biggest drop in eight months

EU car sales see biggest drop in eight months

New car sales in the European Union suffered their biggest fall in eight months in June as economic uncertainty made consumers wary and some markets suffered from the withdrawal of state-sponsored scrappage schemes. Figures released on Friday by automaker
Published 16 Jul, 2011 12:00am
Citigroup profit surges

Citigroup profit surges

US banking giant Citigroup on Friday posted a strong rise in second-quarter profit, as falling credit losses offset a drop in revenues. Net income increased to $3.3 billion in the April-June period, marking a 24 percent jump from $2.7 billion in the same
Published 16 Jul, 2011 12:00am
Crunch European bank tests fail to quell doubts

Crunch European bank tests fail to quell doubts

Eight European banks have failed a test of their ability to withstand a long recession and will have to raise just 2.5 billion euros ($3.5 billion) of capital, significantly less than expected. The European Banking Authority said five banks in Spain, two
Published 16 Jul, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 16 Jul, 2011 12:00am
Crunch European bank tests fail to quell doubts

Crunch European bank tests fail to quell doubts

Eight European banks have failed a test of their ability to withstand a long recession and will have to raise just 2.5 billion euros ($3.5 billion) of capital, significantly less than expected. The European Banking Authority said five banks in Spain, two
Published 16 Jul, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (July 15, 2011).

Published 16 Jul, 2011 12:00am
Crunch European bank tests fail to quell doubts

Crunch European bank tests fail to quell doubts

Eight European banks have failed a test of their ability to withstand a long recession and will have to raise just 2.5 billion euros ($3.5 billion) of capital, significantly less than expected. The European Banking Authority said five banks in Spain, two
Published 16 Jul, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Friday (July 15, 2011).

Published 16 Jul, 2011 12:00am
Index gains 79.19 points

Index gains 79.19 points

The KSE-100 index on Friday gained 79.19 points to close at 12,346.52 points on the back of investors' interest on dips. The market opened on a positive note and the index hit 12,412.65 points intra-day high level, up 195.32 points. However, profit taking
Published 16 Jul, 2011 12:00am
Power sector: foreign investors show reluctance

Power sector: foreign investors show reluctance

Foreign investors are ready to invest in banking, telecom and IT sectors, but have shied away from investing in power sector due to the sector-specific policy, regulations, liquidity and operational issues. This was stated in the ''Key Risks Analysis'' on
Published 16 Jul, 2011 12:00am
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