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Print - 2011-08-02
Liffe sugar tumbles

Liffe sugar tumbles

October white sugar on Liffe fell $7.40, or 1 percent, to $770 per tonne on Monday, having touched a contract high of $821.00 on July 25. Earlier, ICE raw sugar and cocoa futures reversed lower on Monday on spillover pressure from weak US manufacturing da
Published 02 Aug, 2011 12:00am
Sindh University extends date for exam forms

Sindh University extends date for exam forms

The Controller of Examinations Sindh University (SU) has extended date up to August 15 without late fee for submission of examination forms by candidates of postgraduate colleges (college side) of M A, M Sc and M Com previous and final under annual examin
Published 02 Aug, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (August 01, 2011).

Published 02 Aug, 2011 12:00am
'Problems of masses to be resolved soon'

'Problems of masses to be resolved soon'

The District Secretary Information PPP, Muhammad Afzal on Monday said the Chief Minister will resolve all the issues of the people very soon. Talking to APP, he said the Chief Minister's announcement regarding the establishment of a sub-division Dareal wa
Published 02 Aug, 2011 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 02 Aug, 2011 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 02 Aug, 2011 12:00am
'Loadshedding only due to mismanagement'

'Loadshedding only due to mismanagement'

There is no justification of load shedding in Karachi when government has ensured to provide 200 mmcfd of gas to Karachi Electric Supply Company besides also given a subsidy of Rs 3 billions for purchasing furnace oil, said General Secretary KESC Share Ho
Published 02 Aug, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (August 01, 2011).

Published 02 Aug, 2011 12:00am
Projects to improve water supply, sewerage system reviewed

Projects to improve water supply, sewerage system reviewed

A meeting of the Karachi Water and Sewerage Board (KW&SB), was held under the chairmanship of its Vice Chairman, Haji Munawer Ali. Sindh Minister for Local Bodies, Agha Siraj Durrani also attended the meeting in the capacity of the Minister of Local Gover
Published 02 Aug, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (August 01, 2011).

Published 02 Aug, 2011 12:00am
LHC suspends transfer order of director NAB

LHC suspends transfer order of director NAB

Lahore High Court (LHC) here on Monday suspending transfer order of a director National Accountability Bureau (NAB) Irshadul Haq and sought reply from Director General Punjab bureau. The petitioner Irshadul Haq, through his counsel Asghar Ali Gill submitt
Published 02 Aug, 2011 12:00am
The Weather

The Weather

The weather report on Monday (August 01, 2011) and the forecast for Tuesday (August 02, 2011).

Published 02 Aug, 2011 12:00am
Hajj applications: LHC issues notice to Ministry for August 15

Hajj applications: LHC issues notice to Ministry for August 15

The Lahore High Court (LHC) on Monday issued notice to Ministry for religious affairs for August 15, for not entertaining Hajj applications of 124 pilgrims. The petitioners through their Hajj tour operator Al-Qadar Hajj and Ummra Services submitted that t
Published 02 Aug, 2011 12:00am
RTO organises workshop on tax returns

RTO organises workshop on tax returns

Regional Tax Office (RTO) Karachi organised a workshop on e-filing of Income tax & Sales tax returns and withholding statement at the auditorium of main RTO Office, Karachi on the other day. Presentations were made by Abdul Hameed Anjum, (Deputy Commissio
Published 02 Aug, 2011 12:00am
USC outlet opened at KPC

USC outlet opened at KPC

The Advisor to the Sindh Chief Minister on Sports, Haleem Adil Shaikh Monday inaugurated a Utility Store outlet at the Karachi Press Club (KPC). The Co-ordinator of Senior Federal Minister Chaudhry Pervez Ellahi, Babar Qaimkhani, Incharge of Utility Store
Published 02 Aug, 2011 12:00am
SSGC to supply 200mmcfd gas to KESC during Ramazan

SSGC to supply 200mmcfd gas to KESC during Ramazan

Sui Southern Gas Company (SSGC) will supply 200mmcfd gas to Karachi Electric Supply Company (KESC) during the holy month of Ramazan subject to an agreed payment plan, the company sources said. During a meeting at Sindh Governor House on July 30, 2011, bot
Published 02 Aug, 2011 12:00am
TPL looking for equity raise up to Rs 50 million through IPO

TPL looking for equity raise up to Rs 50 million through IPO

TPL Direct Insurance Limited (TPL) is looking for raise up to Rs 50 million through an initial public offering (IPO) started on Monday and to close on August 4, 2011. The TPL has already raised Rs 100 million through the book building process. "The cumula
Published 02 Aug, 2011 12:00am
TPL looking for equity raise up to Rs 50 million through IPO

TPL looking for equity raise up to Rs 50 million through IPO

TPL Direct Insurance Limited (TPL) is looking for raise up to Rs 50 million through an initial public offering (IPO) started on Monday and to close on August 4, 2011. The TPL has already raised Rs 100 million through the book building process. "The cumula
Published 02 Aug, 2011 12:00am
Met office advisory for farmers

Met office advisory for farmers

Meteorological department has issued weather advisory for farmers of cotton, rice, sugarcane, vegetables, fodder etc till 10th August 2011 as under. Past weather (21st July to 31st July, 2011): Rain/thunderstorms with gusty winds have been reported at sca
Published 02 Aug, 2011 12:00am
LCCI office timings rescheduled

LCCI office timings rescheduled

The Lahore Chamber of Commerce and Industry (LCCI) office timings have been rescheduled for the Holy month of Ramazan. According to the LCCI notice, the Lahore Chamber would remain open from 9.00 am to 3.00 pm without any break during the month of Ramazan
Published 02 Aug, 2011 12:00am
Jimmy hopes lasting peace between Pakistan and India

Jimmy hopes lasting peace between Pakistan and India

Prominent artist and peace activist Jimmy Engineer has reiterated his call for lasting and durable peace between India and Pakistan as this would usher in an era of progress, development and prosperity for their people in particular and for the other coun
Published 02 Aug, 2011 12:00am
BISE Lahore announces results

BISE Lahore announces results

Board of Intermediate and Secondary Education Lahore has announced the top position holders of the Annual examination 2011 here Monday. According to the results Larabe Farrukh of Kips High School for Girls got first overall position by securing 1022 marks
Published 02 Aug, 2011 12:00am
LPGAP concerned over propaganda of so-called distributors

LPGAP concerned over propaganda of so-called distributors

The LPG Association of Pakistan (LPGAP) has expressed grave concern over baseless propaganda of so-called LPG distributors and urged Oil and Gas Regulatory Authority (OGRA) to restart the registration process of LPG distributors. A spokesman of the LPGAP
Published 02 Aug, 2011 12:00am
AKP for introduction of organic agriculture system

AKP for introduction of organic agriculture system

Peerzada Abdul Ali Zakir Usmani, President of Anjuman Kashtkaran Punjab (AKP) has stressed the need for introduction of Organic Agriculture System (OAS) in Pakistan to bring a green revolution as organic agriculture is considered to be a holistic food pro
Published 02 Aug, 2011 12:00am
PIAF criticises govt for raising POL prices

PIAF criticises govt for raising POL prices

Pakistan Industrial and Traders Associations Front (PIAF) has strongly criticised the government for making increase in petroleum prices and termed it a very bad news for the country's economy, trade and industry which were already facing a number of chal
Published 02 Aug, 2011 12:00am
'Imran practising politics with help of establishment'

'Imran practising politics with help of establishment'

Deputy Speaker Punjab Assembly Rana Mushood Ahmed Khan has criticised Pakistan Tehreek-e-Insaf Chief Imran Khan and said he (Imran) wants to practise politics with the help of Establishment. Talking to reporters after addressing a seminar organised by an
Published 02 Aug, 2011 12:00am
Breast feeding may lead to 30 percent cut in mortality rate

Breast feeding may lead to 30 percent cut in mortality rate

About 30 percent mortality rate can be reduced by breast feeding of the new-born babies during first six months of their life, as body temperature of mothers protect the new-born from pneumonia and other diseases. This was stated by the speakers in a semi
Published 02 Aug, 2011 12:00am
Ban on phosphate mining creates problems for farmers: KBP

Ban on phosphate mining creates problems for farmers: KBP

Ban imposed by the Khyber Pakhtunkhawa (KPK) government on mining of raw phosphate has created fear of phosphate fertilisers' shortage in the country, which will increase economic burden on the growers who are already facing severe hardships due to day-by
Published 02 Aug, 2011 12:00am
'Uninterrupted power supply to be ensured during Ramazan'

'Uninterrupted power supply to be ensured during Ramazan'

Director General Pakistan Electric Power Company (Pepco), Ejaz Rafique Qureshi has said uninterrupted power supply to be ensured especially during Sehri and Iftar during Ramazan. The textile industry is likely to bear the brunt for uninterrupted power sup
Published 02 Aug, 2011 12:00am
Secretary Literacy Punjab wins prestigious UN award

Secretary Literacy Punjab wins prestigious UN award

UNESCO, an organ of the United Nations (UN), has decided to confer prestigious "Confucius Prize for Literacy, 2011" upon Dr Allah Bakhsh Malik Secretary Literacy & Non Forman Basic Education Department of the Punjab. The prestigious Confucius Award is dec
Published 02 Aug, 2011 12:00am
Sasta Bazaars to be set up during Ramazan

Sasta Bazaars to be set up during Ramazan

Islamabad Capital Territory (ICT) administration will make all-out effort to ensure provision of food items and other essential commodities to people at cheaper rates during Ramazan for which eight Sasta Bazaars and 35 Fair Price Shops would be set up, so
Published 02 Aug, 2011 12:00am
Australian foreign minister extends greetings to Muslims on Ramazan

Australian foreign minister extends greetings to Muslims on Ramazan

Foreign Minister of Australia Kevin Rudd has extended his warm wishes to Muslims in Australia and around the world for the holy month of Ramazan. According to the message released by Australian High Commission here on Monday, Rudd said, "I extend my warm
Published 02 Aug, 2011 12:00am
3,100 security personnel deployed in Islamabad for month of Ramazan

3,100 security personnel deployed in Islamabad for month of Ramazan

Islamabad Police have devised a fool-proof security plan for month of Ramazan and decided to deploy over 3100 security personnel, including policemen, security guards and Masajid guards. The deployment of police force, private security guards and voluntee
Published 02 Aug, 2011 12:00am
Health, education top priorities of government: Prime Minister

Health, education top priorities of government: Prime Minister

Prime Minister Syed Yousuf Raza Gilani Monday said health and education are top priorities of the government. Talking to Mubashar Riaz Shaikh, Executive Director of Global Health Workforce Alliance at WHO HQs, Geneva who called on him at PM's House on Mon
Published 02 Aug, 2011 12:00am
Zakat to be deducted on more than Rs 61,330 in account

Zakat to be deducted on more than Rs 61,330 in account

No deduction of Zakat at source will be made, in case the amount is less than Rs 61,330 in account on first day of Ramazan-ul-Mubarak 1433-AH. According to a notification issued by Ministry of Religious Affairs, Zakat Cell on Monday, in exercise of the po
Published 02 Aug, 2011 12:00am
PCDMA raises objections to new ST, FED return form

PCDMA raises objections to new ST, FED return form

The Federal Board of Revenue (FBR) has made applicability of the new sales tax and federal excise returns retrospectively from July, 2011 which is not legally allowed under the tax laws. In a letter to the FBR here on Monday, Pakistan Chemicals and Dyes M
Published 02 Aug, 2011 12:00am
Polish foreign minister calls on Zardari

Polish foreign minister calls on Zardari

Rodoslaw Sikorski, Foreign Minister of Poland called on President Asif Ali Zardari at Aiwan-e-Sadr on Monday. He was accompanied by Dr Andrzej Ananicz, Ambassador of Poland, Lars Gunnar Wigemark, Ambassador of European Union, and other officials of the Po
Published 02 Aug, 2011 12:00am
Interest-free loans programme launched

Interest-free loans programme launched

A Memorandum of Understanding (MoU) has been signed to launch "Akhuwat -NAVTTC Interest Free Loans Programme". M/s Akhuwat has allocated Rs 10 millions for this scheme, says a press release received here on Monday. Interest Free Loan up to Rs 50,000 will
Published 02 Aug, 2011 12:00am
PNCA holds last puppet show before Ramazan

PNCA holds last puppet show before Ramazan

The National Puppet Theater of Pakistan National Council of the Arts (PNCA) on Monday enthralled the children of various educational institutions with its colorful puppet show. The show, which is a regular feature of PNCA's activities for promotion of cul
Published 02 Aug, 2011 12:00am
Khyber Pakhtunkhwa body pledges to restore unhindered normalcy

Khyber Pakhtunkhwa body pledges to restore unhindered normalcy

The Apex committee of Khyber Pakhtunkhwa in its 28th meeting held under the chairmanship of Governor Barrister, Masood Kausar has expressed the determination to ensure complete sustenance in the ongoing steps for restoration of unhindered normalcy in civi
Published 02 Aug, 2011 12:00am
Two persons killed in capital

Two persons killed in capital

Two persons including a girl were killed and one injured in firing in the capital during last 24 hours. Islamabad Police claimed to have arrested nine persons including two lady drug pushers in 17 different incidents of crime reported in the city.
Published 02 Aug, 2011 12:00am
HCCI announces election schedule

HCCI announces election schedule

President Hyderabad Chamber of Commerce and Industry (HCCI) Seth Goharullah has urged all members of the HCCI to actively participate in the upcoming elections of the trade union. In a press statement issued on Monday, he said that the HCCI's general body
Published 02 Aug, 2011 12:00am
Violence in Karachi: HRCP completes fact-finding mission

Violence in Karachi: HRCP completes fact-finding mission

The Human Rights Commission of Pakistan (HRCP) has completed a fact-finding mission in Karachi (July 29-31, 2011) to ascertain the causes of the current wave of violence in the country's largest metropolis. The fact-finding mission issued an interim state
Published 02 Aug, 2011 12:00am
First CEL inaugurated at SZABIST

First CEL inaugurated at SZABIST

The first Center for Entrepreneurship and Leadership (CEL) by SME Business Support Fund (BSF) was inaugurated at SZABIST Islamabad by Ghalib Nishtar, President Khushhalibank. Nishtar while giving his keynote speech appreciated the efforts of SME Business
Published 02 Aug, 2011 12:00am
Government bans eating at public places

Government bans eating at public places

The federal government has completely banned eating, drinking and smoking at public places during fasting hours in Ramazan to ensure sanctity of the month. The canteens in hospitals, airports, railway stations and bus stands will remain open.
Published 02 Aug, 2011 12:00am
FBR issues SRO for zero rating import of textile machinery

FBR issues SRO for zero rating import of textile machinery

The Federal Board of Revenue (FBR) has issued SRO to facilitate textile industry for zero rating import of textile machinery during current fiscal, said reliable sources. According to the sources, the spinning industry is planning to invest further to con
Published 02 Aug, 2011 12:00am
LHC suspends order, seeks reply from ETPB

LHC suspends order, seeks reply from ETPB

The Lahore High Court here Monday suspended an order which reverted to a deputy secretary of Evacuee Trust Property Board (ETPB) to step down as assistant date control officer. The court also sought reply from ETPB chairman and other respondents within on
Published 02 Aug, 2011 12:00am
Armed men open fire at house in Barkhan

Armed men open fire at house in Barkhan

Unknown armed men attacked at a house on Sunday late night in Barkhan, However, no loss of life was reported. According to the Levies Force, armed men opened fire at house of Abdul Latif and fled from the scene. Levies Force registered a case and started
Published 02 Aug, 2011 12:00am
Punjab government launches Quaid-e-Azam award for legends

Punjab government launches Quaid-e-Azam award for legends

The Punjab Government will launch 'Quaid-e-Azam Life Time Achievement Award' in recognition of meritorious services of legends. The Chief Minister Punjab has already approved a summary in this regard. According to details, this prestigious award will be g
Published 02 Aug, 2011 12:00am
17 more houses vacated in GOR-1

17 more houses vacated in GOR-1

As many as 17 more houses have been vacated in the Government Officer Residence-1 (GOR-1) in Lahore. Out of these 17 houses vacated till 31 July, 13 were in the possession of District Management Group (DMG) Officers, two Police Service Officers while one
Published 02 Aug, 2011 12:00am
Meezan Bank's after-tax profit up 92 percent

Meezan Bank's after-tax profit up 92 percent

Meezan Bank Ltd has recorded a robust growth of 92 percent in its half year after-tax profit which increased to Rs 1,382 million from Rs 719 million in the corresponding period last year. Comparative Earnings per Share of the bank also increased to Rs 1.7
Published 02 Aug, 2011 12:00am
Meezan Bank's after-tax profit up 92 percent

Meezan Bank's after-tax profit up 92 percent

Meezan Bank Ltd has recorded a robust growth of 92 percent in its half year after-tax profit which increased to Rs 1,382 million from Rs 719 million in the corresponding period last year. Comparative Earnings per Share of the bank also increased to Rs 1.7
Published 02 Aug, 2011 12:00am
Woman and brother-in-law killed

Woman and brother-in-law killed

A woman and her brother-in-law were shot dead over property disputes in the limits of Baldia police station on Monday. According to police, the victim Bacha Sultana, 50, wife of Dilbar and her 60-year-old brother-in-law Shams-ur-Rehman were killed over pr
Published 02 Aug, 2011 12:00am
Bank Alfalah conducts orientation programme for ICBC

Bank Alfalah conducts orientation programme for ICBC

Bank Alfalah conducted a three-day customised knowledge sharing programme for the Industrial and Commercial Bank of China (ICBC,) which is the most recent entrant to the Pakistani banking sector. Titled 'ICBC: Local Market Orientation Programme', the curr
Published 02 Aug, 2011 12:00am
Sindh to raise Zakat collection issue in CCI

Sindh to raise Zakat collection issue in CCI

Sindh government has decided to raise the issue of collection of Zakat by the province in Council of Common Interests (CCI), well-placed sources told Business Recorder . Federal government had devolved Zakat and Ushr along with other four ministrie
Published 02 Aug, 2011 12:00am
Schneider Electric launches new management software

Schneider Electric launches new management software

Schneider Electric, a global specialist in energy management, recently introduced StruxureWare(tm) for Data Centres, a management software suite designed to maximise availability and efficiency of the data centre's physical infrastructure.
Published 02 Aug, 2011 12:00am
'Shamil' a community mental health initiative launched

'Shamil' a community mental health initiative launched

The I-Care Foundation and the Aman Foundation recently launched "Shamil" a community mental health initiative for the poor. "Shamil" is a comprehensive programme that aims at creating awareness about mental health issues and helps affected people to reali
Published 02 Aug, 2011 12:00am
Keamari berths' repair may take one more year

Keamari berths' repair may take one more year

The two caved-in berths at Karachi Port Trust (KPT), which had fallen in August 2007 at the East Wharf of the country's largest harbour, still need almost a year more to become functional, it has been learnt. Shipping activities continue to remain suspend
Published 02 Aug, 2011 12:00am
Summit Bank issues Visa Debt Cards

Summit Bank issues Visa Debt Cards

The Summit Bank on Monday announced to introduce 'Summit Visa Debit Card' and 'Summit Visa Debit Gold Card'. Both Cards are free for all Summit Bank account holders and offer incredible discounts. They come with the cashless ease and convenience, like nev
Published 02 Aug, 2011 12:00am
Two killed in Quetta blast

Two killed in Quetta blast

At least two persons were killed while another injured in a bomb blast that took place in Sariab area of the provincial capital on Monday. "Unknown men had placed explosive material in a garbage heap near Awami petroleum service station on Sariab road," p
Published 02 Aug, 2011 12:00am
ACCA awarded Brand of the Year Award

ACCA awarded Brand of the Year Award

ACCA Pakistan has been awarded Brand of the year award in the category of Professional Accountancy programme 2010. The award ceremony was organised by the Intellectual Property Association and the Brands Foundation.
Published 02 Aug, 2011 12:00am
Finalisation of PaCCS deal: FBR team to visit Kuwait in next few days

Finalisation of PaCCS deal: FBR team to visit Kuwait in next few days

A high powered Federal Board of Revenue (FBR) delegation will be flying to Kuwait in the next few days to finalise the protracted negotiations with Agility Logistics relating to the purchase of Pakistan Automated Customs Computerised System (PaCCS).
Published 02 Aug, 2011 12:00am
SAFE organises seminar on investor relations

SAFE organises seminar on investor relations

South Asian Federation of Exchanges (SAFE) held the fourth of its new series of training seminars on the subject of "Investor Relations" under the title of "Adding Value Creation through Effective Investor Relations" at Karachi.
Published 02 Aug, 2011 12:00am
DHL provides additional control on 'green' shipping services

DHL provides additional control on 'green' shipping services

DHL Global Forwarding, Freight, one of the leading provider of global air and ocean freight and road freight services, has launched a new service for carbon emissions tracking, the Gogreen Carbon Dashboard. Customers can choose from a variety of certified
Published 02 Aug, 2011 12:00am
Services sector: FBR will workout exact impact of sales tax

Services sector: FBR will workout exact impact of sales tax

The Federal Board of Revenue (FBR) will workout the exact impact of sales tax from services sector on the over ambitious revenue collection target of Rs 1,952 billion for 2011-2012. It is learnt here on Monday that the FBR would exactly determine the impa
Published 02 Aug, 2011 12:00am
Maulana Tariq launches peace efforts in Karachi

Maulana Tariq launches peace efforts in Karachi

Prominent religious leader, Tariq Jamil has also become active to restore peace in Karachi saying that he brought a message of peace and love. While talking to a private news following a meeting with co-ordination committee of MQM at its center nine zero
Published 02 Aug, 2011 12:00am
Designing Monetary Policy on cherished targets

Designing Monetary Policy on cherished targets

It is hard to believe that a central bank could change its monetary policy on the basis of targets fixed by the government authorities, rather than the actual numbers or facts on the ground, but the announcement of the State Bank of Pakistan on 30th July,
Published 02 Aug, 2011 12:00am
Exemplary democracy

Exemplary democracy

Political in-fighting in the US - the country that wants the world to emulate its democracy - may finally end to prevent a US default on its debt repayment commitments. But, till the last minute, US politicians showed zero concern either for US image abro
Published 02 Aug, 2011 12:00am
Asia dodges one debt bullet, plenty more in chamber

Asia dodges one debt bullet, plenty more in chamber

Averting a US debt default solves only the immediate fiscal problem for the West and its big creditors in Asia. The US sovereign debt path remains unsustainable. Investors are growing reluctant to lend cheap money to a handful of European countries. Eithe
Published 02 Aug, 2011 12:00am
The dream of poverty alleviation

The dream of poverty alleviation

Throughout the history, people have shifted their means of living from agricultural base towards the industrial sources of income. This has created an imbalance in the resource allocation by giving rise to urbanisation of major cities throughout the world
Published 02 Aug, 2011 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

Gold rose toward record highs on Monday, erasing early losses after data showing a slowdown in US manufacturing activity fed the view that the Federal Reserve might ease monetary policy further to stimulate the economy. In early trade, bullion fell more t
Published 02 Aug, 2011 12:00am
US MIDDAY: copper plummets

US MIDDAY: copper plummets

Copper posted its biggest one-day loss in two months on Monday, as the dollar rose and demand prospects dimmed after data showed a deceleration in manufacturing growth in emerging and developed economies alike last month. In New York, the key September CO
Published 02 Aug, 2011 12:00am
US MIDDAY: corn and soya rise

US MIDDAY: corn and soya rise

Chicago Board of Trade soyabean futures rose early Monday, supported by a deal to raise the US debt ceiling and strength in the crude oil market, traders said. Corn futures posted early gains due to concerns about the US crop. At 9:34 am CDT (1434 GMT), C
Published 02 Aug, 2011 12:00am
US MIDDAY: sugar plunges

US MIDDAY: sugar plunges

ICE raw sugar and cocoa futures reversed lower early on Monday on spillover pressure from weak US manufacturing data, while coffee prices firmed on roaster nibbling. Many commodities received earlier support from a US debt deal aimed at avoiding an unprec
Published 02 Aug, 2011 12:00am
Gold slips in Europe

Gold slips in Europe

Gold fell on Monday as investor concern about debt default in the United States, the world's largest economy, receded after President Barack Obama announced a last-minute deal to raise the country's borrowing limit. Spot gold was bid at $1,616.39 a troy o
Published 02 Aug, 2011 12:00am
Gold falls in Asia

Gold falls in Asia

Gold fell more than 1 percent on Monday after US President Barack Obama said lawmakers had reached a deal to cut the country's deficit, which, if approved, would remove the threat of a default on debt that has driven bullion to a record high. But the hit
Published 02 Aug, 2011 12:00am
Rain threatens Thai rice, rubber; damage minor so far

Rain threatens Thai rice, rubber; damage minor so far

Thailand, the world's biggest exporter of rubber and rice, suffered flooding in the north at the weekend and could face further problems in coming weeks from monsoon rain and tropical storms, but crop damage so far seems limited, officials said on Monday.
Published 02 Aug, 2011 12:00am
Nikkei climbs above 10,000 mark

Nikkei climbs above 10,000 mark

The Nikkei stock average climbed back above 10,000 at one point on Monday, the first time in three days, helped by short-covering and futures-led buying after top US lawmakers reached an agreement to reduce the deficit and avoid a default.
Published 02 Aug, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares advanced on Monday as US lawmakers struck a debt-ceiling deal to avert a rapidly approaching default. The Korea Composite Stock Price Index (KOSPI) ended the day 1.83 percent higher to 2,172.31 points, led by Samsung Electronics which gained
Published 02 Aug, 2011 12:00am
Australian shares post solid gains

Australian shares post solid gains

Australian stocks rallied 1.7 percent on Monday, led by banks and miners, on relief that US lawmakers reached a last-minute compromise on spending cuts and a deal to lift the debt ceiling to avoid default.
Published 02 Aug, 2011 12:00am
Poor US data undoes FTSE debt deal rally

Poor US data undoes FTSE debt deal rally

Britain's top share index shed 0.7 percent on Monday after a roller-coaster session, with early strong gains on relief over a debt deal in Washington wiped out later by weak ISM data which threw the spotlight back on a faltering US economy.
Published 02 Aug, 2011 12:00am
Ukraine's 2010-11 grain exports fall

Ukraine's 2010-11 grain exports fall

Ukraine's grain exports fell to 12.7 million tonnes in the 2010/11 season from 21.5 million tonnes in 2009/10, consultancy UkrAgroConsult said on Monday. The volume included 4.16 million tonnes of wheat, 2.79 million tonnes of barley and 5.09 million tonn
Published 02 Aug, 2011 12:00am
HRW wheat bids steady

HRW wheat bids steady

Hard red winter wheat basis bids held steady Monday, with combining continuing across South Dakota. Test weights in new-crop wheat yet to be harvested were hit by recent rains and quality was mixed with some vomitoxin noted. Dealers said spot cars were lo
Published 02 Aug, 2011 12:00am
Jordan tenders for 100,000 tonnes of feed barley

Jordan tenders for 100,000 tonnes of feed barley

Jordan's state grains buyer has issued an international tender to purchase 100,000 tonnes of feed barley, European traders said on Monday. The bidding deadline is August 17 and origin is optional, traders said. In its last barley tender for 100,000 tonnes
Published 02 Aug, 2011 12:00am
Rain delays German wheat crop, damage worry grows

Rain delays German wheat crop, damage worry grows

Repeated rainfall has hindered Germany's wheat crop for the past five days and concern is growing about late quality damage in the European Union's second largest wheat producer. "Concern about late quality damage to wheat in parts of the country is incre
Published 02 Aug, 2011 12:00am
Italy's 2011 sugar output seen down

Italy's 2011 sugar output seen down

Italy's output of sugar made from local beet is expected to fall by up to 9 percent this year, to 400,000-410,000 tonnes, after a drop of about 20 percent in sown areas, according to preliminary estimates from beet growers' body ANB. "We have just started
Published 02 Aug, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 146,503 tonnes of cargo including 113,610 tonnes of import cargo, 32,893 tonnes of export cargo and 4,174 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 113,610 tonnes compr
Published 02 Aug, 2011 12:00am
Tensions in money markets ease

Tensions in money markets ease

Tensions in money markets eased slightly on Monday after US lawmakers reached a tentative debt deal to avert a default but dollar funding costs are still seen rising as the United States faces the risk of a ratings downgrade. President Barack Obama announ
Published 02 Aug, 2011 12:00am
Early trade in New York: dollar skids versus Swiss franc

Early trade in New York: dollar skids versus Swiss franc

The dollar hit a record low against the Swiss franc and a 4-1/2 month trough versus the yen on Monday as optimism about the US evading a default were swiftly outweighed by fears about the government's fiscal condition. Republican and Democratic lawmakers
Published 02 Aug, 2011 12:00am
Dollar at record low versus Swiss franc

Dollar at record low versus Swiss franc

The dollar hit a record low against the safe-haven Swiss franc on Monday, reversing earlier gains on investor concerns that a deal to raise the US borrowing limit would not be enough to avoid a downgrade to the country's triple-A credit rating.
Published 02 Aug, 2011 12:00am
New Zealand and Aussie dollar scale fresh peak

New Zealand and Aussie dollar scale fresh peak

The New Zealand dollar scaled a fresh 30-year peak on Monday, while the Aussie climbed against the US dollar after President Barack Obama announced that congressional leaders had reached an agreement to avert a debt default. The news bolstered risk appeti
Published 02 Aug, 2011 12:00am
Indian rupee up

Indian rupee up

The Indian rupee gained on Monday as the US debt deal on late Sunday evening stoked risk appetite and propelled equity markets higher globally along with most Asian currencies, but dollar buying for Iran oil dues capped the rupee's rise The partially conv
Published 02 Aug, 2011 12:00am
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