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Print - 2011-08-02
Air India snubbed by Star Alliance

Air India snubbed by Star Alliance

Air India's bid to join the Star Alliance has been grounded after the global airline network said it had not met the minimum standards for membership. The decision to suspend the application, which was approved by the Alliance's board, is a fresh blow to
Published 02 Aug, 2011 12:00am
Israeli soldiers kill two in West Bank

Israeli soldiers kill two in West Bank

Two Palestinians were shot dead overnight by Israeli soldiers in the Qalandia refugee camp in the West Bank, Palestinian medics and security officials said on Monday. Moatassem Adwan, 22, and 23-year-old Ali Khalifa, were killed by soldiers as they carrie
Published 02 Aug, 2011 12:00am
US approves free birth control services

US approves free birth control services

US health insurance companies must offer women free birth control and other preventive health care services under Obama administration rules released on Monday, a historic decision supported by family planning groups and opposed by conservative groups.
Published 02 Aug, 2011 12:00am
Bomb blast kills 5 in north-east India

Bomb blast kills 5 in north-east India

At least five people died in a bomb blast Monday in a market place in the north-eastern Indian state of Manipur, which has been plagued for decades by separatist militants, police said. Twenty others were injured in the explosion, which took place on the
Published 02 Aug, 2011 12:00am
Top US officer arrives in Iraq

Top US officer arrives in Iraq

The top American military officer arrived in north Iraq on Monday shortly before he is due to step down and with just months to go before the US must withdraw its forces from Iraq, a US officer said. Admiral Mike Mullen, the chairman of the Joint Chiefs o
Published 02 Aug, 2011 12:00am
South Africa may reopen arms deal probe, piling pressure on Zuma

South Africa may reopen arms deal probe, piling pressure on Zuma

South African police may reopen a corruption probe into a multi-billion dollar arms deal involving several companies and high profile officials including President Jacob Zuma to see if charges can be instituted a decade after the transaction.
Published 02 Aug, 2011 12:00am
Yemen army raid kills 15 Qaeda-linked militants

Yemen army raid kills 15 Qaeda-linked militants

At least 15 suspected al Qaeda militants were killed in army air raids in and around the restive city of Zinjibar in southern Yemen, security and local officials told AFP on Monday. Fifteen people were killed in Sunday's raids, including a local leader of
Published 02 Aug, 2011 12:00am
Libyans start Ramazan amid conflict, divisions

Libyans start Ramazan amid conflict, divisions

Libyans entered the Muslim holy month of Ramazan on Monday with no let-up in the five-month conflict as Muammar Qadhafi sought to foment divisions within a rebellion threatening him on several fronts. Several explosions rocked the capital, Tripoli, overni
Published 02 Aug, 2011 12:00am
Egypt army breaks up protest in Tahrir Square

Egypt army breaks up protest in Tahrir Square

The Egyptian army moved into Cairo's Tahrir Square on Monday and cleared away a few hundred protesters who remained camped there after the main groups suspended a three-week demonstration held to advance demands for faster democratic reforms. There was li
Published 02 Aug, 2011 12:00am
Saudi trial opens for 'al Qaeda Lady'

Saudi trial opens for 'al Qaeda Lady'

A Saudi court opened the trial of the "al Qaeda Lady," the first woman in the kingdom accused of involvement in terrorist activities, local media reported on Monday. The specialised criminal court began the trial Sunday of "a woman accused of joining al Q
Published 02 Aug, 2011 12:00am
Dyes items mixed on Jodia Bazaar

Dyes items mixed on Jodia Bazaar

The trading in dyes items closed mixed on Jodia Bazaar here on Monday. The following changes were noted.
Published 02 Aug, 2011 12:00am
Prices drift downward on grain market

Prices drift downward on grain market

Prices drifted lower on the grain market on Monday as Ramazan would start from Tuesday, dealers said. On the cereal side juwar low variety did not show any change at Rs 2100 while the best quality was down by Rs 50 to Rs 2150, gur prices were down by Rs 1
Published 02 Aug, 2011 12:00am
Oil cake market rates

Oil cake market rates

Easier trend was again witnessed on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The December contract that had ended at Rs 1313.70 commenced with a fall of 20 paisa to Rs 1313.50. The January vaida whish was at Rs
Published 02 Aug, 2011 12:00am
Price firm on cotton market despite India allowing exports

Price firm on cotton market despite India allowing exports

Despite the fact that India allowed its exporters to sell cotton, rates were stable on the domestic cotton market on Monday, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 5,500, they said.
Published 02 Aug, 2011 12:00am
Most Gulf stocks rise; US deal lifts sentiment

Most Gulf stocks rise; US deal lifts sentiment

Most Gulf markets rose on Monday, breaking an expected trading lull on the first day of Ramazan after a last-minute US debt deal spurred a rally in world stocks and lifted regional sentiment. Investors are betting the deal to raise a debt ceiling means th
Published 02 Aug, 2011 12:00am
Indian shares soar

Indian shares soar

Indian shares started August on a positive note and snapped a four-session decline, rallying 0.6 percent on Monday, after a deal by top US lawmakers to avoid a debt default provided some respite to investors and propelled them towards riskier assets.
Published 02 Aug, 2011 12:00am
Hong Kong, China shares gain

Hong Kong, China shares gain

Hong Kong and China shares rose on Monday after feuding lawmakers in the United States agreed on a deal to avert debt default but low turnover that worries about global growth were keeping investors wary of making big bets.
Published 02 Aug, 2011 12:00am
Southeast Asian markets: Indonesia, Philippines scale record highs

Southeast Asian markets: Indonesia, Philippines scale record highs

Major Southeast Asian stock markets pushed higher on Monday as investors snapped up financial and resource stocks in reporting season and markets cheered reports that the United States had reached a last-minute deal to escape default.
Published 02 Aug, 2011 12:00am
Taiwan stocks end higher

Taiwan stocks end higher

Taiwan stocks closed 0.66 percent higher on Monday, though Formosa Petrochemical Corp plunged 6.9 percent, the maximum allowed in a day, after reporting the seventh fire in a year at its flagship refinery over the weekend. The company said it has shut the
Published 02 Aug, 2011 12:00am
Monday's midday trade: Wall Street falls one percent

Monday's midday trade: Wall Street falls one percent

US stocks dropped 1 percent on Monday as weaker-than-expected US manufacturing data and uncertainty over the debt deal in Washington left investors wary about the outlook for the economy and the market.
Published 02 Aug, 2011 12:00am
European shares plummet

European shares plummet

European stocks fell sharply on Monday as weak US manufacturing data added to worries about a slow recovery for the world's biggest economy, more than offsetting optimism the United States would avert a disastrous debt default.
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
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
Mexico sets 2011-16 plan to boost cotton output

Mexico sets 2011-16 plan to boost cotton output

Mexico is launching a six-year program to increase cotton production to 2.4 million bales by 2016, a member of an industry group was quoted as saying on Sunday. In a release distributed by Mexico's Agriculture Ministry, Jorge Medina, a representative for
Published 02 Aug, 2011 12:00am
Russia's wheat prices mixed, barley gains

Russia's wheat prices mixed, barley gains

Grain prices were mixed across Russia last week, with gridlock at leading ports acting to support prices by limiting wheat exports despite increased supplies as the harvest gathers pace, analysts said. "Market participants are talking about high occupancy
Published 02 Aug, 2011 12:00am
Sterling falls broadly

Sterling falls broadly

Sterling fell broadly on Monday after data showed UK manufacturing activity shrank in July for the first time in two years, a reminder of the difficulties the UK economy faces which are likely to keep the currency on the ropes. Traders said the pound came
Published 02 Aug, 2011 12:00am
Dollar rises in Asia

Dollar rises in Asia

The dollar enjoyed a relief rally against the yen and Swiss franc on Monday as leaders in the US Congress agreed on a deal to trim fiscal spending, easing concerns of an imminent US debt default and prompting traders to unwind safe haven plays. Commodity
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
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
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
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
Won, peso at three-year highs

Won, peso at three-year highs

The South Korean won and Philippine peso raced to three-year peaks on Monday as hedge funds continued to buy emerging Asian currencies on optimism the US debt crisis has been resolved and data showing strong economic growth in the region. With Monday's da
Published 02 Aug, 2011 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 74.68/74.75 (previous 74.74/74.75). Call Money Rates: 6.75-12.00 percent (previous 6.75-12.00 percent).
Published 02 Aug, 2011 12:00am
Yuan hits record high, up 6.1 percent since depegging

Yuan hits record high, up 6.1 percent since depegging

The yuan closed up against the dollar after hitting a record trading high on Monday, as the People's Bank of China set an all-time high mid-point fixing, following the sinking dollar index "It seems that the central bank intends to take advantage of the w
Published 02 Aug, 2011 12:00am
Private investors committed to Greek rescue

Private investors committed to Greek rescue

Private investors will stand by a pledge to take part in a second Greek debt bailout regardless of rating agency warnings they will downgrade the country as a result, a press report said Monday. Charles Dallara, head of the International Finance Institute
Published 02 Aug, 2011 12:00am
US a 'parasite' on world economy: Putin

US a 'parasite' on world economy: Putin

Russian Prime Minister Vladimir Putin on Monday accused the United States of acting as a "parasite" on the world economy by accumulating massive debts that threaten the global financial system. "The country is living in debt. It is not living within its m
Published 02 Aug, 2011 12:00am
Peru's inflation highest in more than three years

Peru's inflation highest in more than three years

Peru's consumer price index rose the most in more than three years in July, government data showed on Monday, but the central bank is still seen as unlikely to raise its benchmark interest rate on August 11. Inflation was 0.79 percent in July, well above
Published 02 Aug, 2011 12:00am
EU wins backing for duties on Chinese tiles, bikes

EU wins backing for duties on Chinese tiles, bikes

The European Union is set to launch trade barriers on bicycles and ceramic tiles from China, diplomats said on Monday, the latest defensive measures designed to protect EU producers. Plans by the EU Commission to launch five-year punitive import duties wo
Published 02 Aug, 2011 12:00am
US factory growth slows, casts shadow on economy

US factory growth slows, casts shadow on economy

US manufacturing grew at its slowest pace in two years in July as new orders contracted, a troubling development for the faltering economy. The Institute for Supply Management said on Monday its index of national factory activity fell to 50.9, the lowest
Published 02 Aug, 2011 12:00am
Japan keeps verbal warnings against yen

Japan keeps verbal warnings against yen

Japan's finance minister kept up verbal intervention against a rising yen even as a weak dollar won a reprieve on Monday as US lawmakers reached an agreement to raise the debt ceiling and avoid a sovereign default. Yoshihiko Noda said he continued to watc
Published 02 Aug, 2011 12:00am
IMF maintains growth forecasts for Britain

IMF maintains growth forecasts for Britain

The International Monetary Fund on Monday maintained its growth forecasts for Britain but warned of risks from the eurozone debt crisis, spending cuts, volatile commodity prices and a weak housing market. In an annual report on Britain's economy, the IMF
Published 02 Aug, 2011 12:00am
IMF maintains growth forecasts for Britain

IMF maintains growth forecasts for Britain

The International Monetary Fund on Monday maintained its growth forecasts for Britain but warned of risks from the eurozone debt crisis, spending cuts, volatile commodity prices and a weak housing market. In an annual report on Britain's economy, the IMF
Published 02 Aug, 2011 12:00am
Eurozone unemployment flat

Eurozone unemployment flat

Euro zone unemployment was flat in June against May at 9.9 percent of the workfoce as expected by economists, data showed on Monday. The European Union's statistics office Eurostat said 15.64 million people were without work in the 17 countries using the
Published 02 Aug, 2011 12:00am
One-day strike ramps up Israel protest pressure

One-day strike ramps up Israel protest pressure

Israeli workers across the Jewish state took part in a one-day strike on Monday, throwing their weight behind an economic protest movement that has spread across the country and rattled the government. It was difficult to gauge how many workers heeded the
Published 02 Aug, 2011 12:00am
India sees further signs of slowdown

India sees further signs of slowdown

India's economy showed further signs of slowdown on Monday, with July factory expansion the weakest in 20 months, a government panel cutting its growth forecasts and its top carmaker posting a steep drop in sales. But central bank Governor Duvvuri Subbara
Published 02 Aug, 2011 12:00am
Europe, Asian factory growth stalls

Europe, Asian factory growth stalls

Factories in Asia and Europe expanded in July at the weakest rate since major industrial powers were struggling through the 2009 recession, adding to concerns over world growth. While stock markets rose on signs of a last minute solution that would avoid
Published 02 Aug, 2011 12:00am
Italian clubs need own stadiums to flourish

Italian clubs need own stadiums to flourish

Italian clubs will continue lagging behind their English and Spanish counterparts until they own their stadiums says Cesena's Igor Campedelli, one of Serie A's most progressive club presidents. The 37-year-old has overseen the unfashionable club's rise in
Published 02 Aug, 2011 12:00am
SAFF U-16 football: Pakistan beat India

SAFF U-16 football: Pakistan beat India

Pakistan U-16 Football team has defeated arch rival India 1-0 in SAFF U-16 Football Tournament iin Kathmandu Nepal on Monday. According to a message received here, Mansoor Khan scored the goal in the 20th minute. The lead remained intact till end of the m
Published 02 Aug, 2011 12:00am
Serena takes WTA Stanford crown

Serena takes WTA Stanford crown

Former world number one Serena Williams surged past Marion Bartoli 7-5, 6-1 Sunday to win the WTA Stanford crown, her first title in more than a year, signalling her US Open intentions. Williams, a 13-time Grand Slam champion who is battling to rebuild he
Published 02 Aug, 2011 12:00am
Surprise win for Zimbabweans in warm-up match

Surprise win for Zimbabweans in warm-up match

Foster Mutizwa shocked the Bangladesh tourists here Monday when he scored 87 to take a Zimbabwe XI to victory in their three-day encounter, the only warm-up match before the one-off Test later in the week. Bangladesh looked to be in charge when the day st
Published 02 Aug, 2011 12:00am
India greats hail Dhoni's sporting gesture

India greats hail Dhoni's sporting gesture

Former India captains Anil Kumble and Gundappa Viswanath on Monday praised Mahendra Singh Dhoni's decision to recall England's Ian Bell during the ongoing Trent Bridge Test. Bell was run out on 137 off the last ball before tea on Sunday's third day of the
Published 02 Aug, 2011 12:00am
No 100th ton for Tendulkar at Trent Bridge

No 100th ton for Tendulkar at Trent Bridge

Sachin Tendulkar was still left searching for an unprecedented 100th international century after falling lbw for 56 to James Anderson on the fourth day of the second Test against England at Trent Bridge here on Monday. 'The Little Master', whose 51 Test c
Published 02 Aug, 2011 12:00am
England thrash India

England thrash India

Tim Bresnan shone with both bat and ball as England crushed India by 319 runs at Trent Bridge here on Monday to win the second Test with more than a day to spare. England's margin of victory was a record in terms of runs in tests between the two sides.
Published 02 Aug, 2011 12:00am
Norway soul-searches on crime after rampage

Norway soul-searches on crime after rampage

Prime Minister Jens Stoltenberg urged parliament on Monday to preserve the democratic values of Norway as public pressure grew for stiffer sentences for serious crimes after an anti-immigration zealot's bloody rampage. In a poll of nearly 1,300 people tak
Published 02 Aug, 2011 12:00am
China train crash censorship scorned on Internet

China train crash censorship scorned on Internet

China's media are curbing combative reporting of a high-speed train disaster after what observers said were orders from the ruling Communist Party's propaganda arm, which on Monday drew fresh scorn from Internet users demanding unfettered news.
Published 02 Aug, 2011 12:00am
Nepal swears in nine Maoist cabinet ministers

Nepal swears in nine Maoist cabinet ministers

Nepal's prime minister on Monday swore in nine Maoist lawmakers to the cabinet, days after the former rebels threatened to withdraw support from the government and trigger its collapse. Prime Minister Jhalanath Khanal had earlier rejected Maoist demands t
Published 02 Aug, 2011 12:00am
EU expanding sanctions against Syria

EU expanding sanctions against Syria

The European Union is to add five new names to a list of Syrian idividuals and companies already targeted by a visa ban and assets freeze, EU diplomats said Monday. "We will continue with our policy of sanctions", said a spokesman for EU foreign policy ch
Published 02 Aug, 2011 12:00am
Tanks shell Hama for second day, four killed

Tanks shell Hama for second day, four killed

Syrian tanks shelled the city of Hama, the scene of a 1982 massacre, for a second day on Monday, killing at least four civilians, residents said, in an assault to try to crush protests against President Bashar al-Assad. The killings in the city's resident
Published 02 Aug, 2011 12:00am
Malaysia launches foreign labour amnesty

Malaysia launches foreign labour amnesty

Malaysia launched an amnesty for nearly two million illegal foreign workers on Monday but a labour group condemned the exercise as vague and leaving migrants vulnerable to being cheated. During the six-month programme, foreign workers mainly from Indonesi
Published 02 Aug, 2011 12:00am
Israel to extradite Bosnian Serb over Srebrenica

Israel to extradite Bosnian Serb over Srebrenica

An Israeli court ruled on Monday that an immigrant from the former Yugoslavia could be extradited to Bosnia to face genocide charges for involvement in the 1995 Srebrenica massacre, though he can appeal the move. Aleksandar Cvetkovic, a Bosnian Serb livin
Published 02 Aug, 2011 12:00am
British troops' Afghan tour length could double: commander

British troops' Afghan tour length could double: commander

British troops could have their tours of duty in Afghanistan doubled in length to a year long, their commander on the ground said in an interview out Monday. The length of tours for key units could be extended for the drawdown period leading to the end of
Published 02 Aug, 2011 12:00am
Scandals cloud new session of Indian parliament

Scandals cloud new session of Indian parliament

India's new session of parliament got off to a volatile start Monday, even as the prime minister appealed for help in passing key legislation on corruption and land acquisition. The lower house adjourned almost immediately out of respect for an MP who die
Published 02 Aug, 2011 12:00am
Germany and France moot ship-building alliance

Germany and France moot ship-building alliance

Germany and France are considering a military ship-building alliance, an "EADS of the Seas", similar to what is already done for military aircraft, the Financial Times Deutsschland newspaper said Monday The European defence group EADS, owner of plane make
Published 02 Aug, 2011 12:00am
No fool's rally seen in commodities on US debt fix

No fool's rally seen in commodities on US debt fix

A relief rally in oil and commodities markets after a last-minute US debt deal is likely to prove short-lived, while US and European debt problems remain far from being solved and economic data raise fears of a new global recession. Analysts said on Monda
Published 02 Aug, 2011 12:00am
Shanghai copper rises

Shanghai copper rises

Copper climbed to a near four-month high on Monday on continued strike action in Chile and after President Barack Obama announced a last-minute deal to raise the US borrowing limit and avoid a catastrophic default. The most-active October copper contract
Published 02 Aug, 2011 12:00am
Copper declines

Copper declines

Copper hit a one-week low on Monday as disappointing manufacturing data from the United States reinforced fears of weak demand growth from the world's largest economy and as the dollar strengthened. Earlier, the metal used in power and construction rose t
Published 02 Aug, 2011 12:00am
Brent oil recovers

Brent oil recovers

Brent crude edged higher on Monday as North Sea oilfield maintenance and violence in the Middle East helped offset weaker global factory data that fed doubts about the energy demand outlook. US crude fell to its lowest settlement in more than a month as t
Published 02 Aug, 2011 12:00am
Tokyo, Shanghai rubber rise

Tokyo, Shanghai rubber rise

Key Tokyo rubber futures settled slightly higher in thin trade on Monday as lingering worries about the health of the US economy kept investors on the sidelines despite a fall in the yen and higher oil prices after Washington reached a last-minute deal to
Published 02 Aug, 2011 12:00am
Malaysian palm oil gains

Malaysian palm oil gains

Malaysian palm oil futures extended gains on Monday, boosted by export data and as risk aversion eased after Washington reached a last-minute deal to raise the US debt limit and escape default. The benchmark October contract on the Bursa Malaysia Derivati
Published 02 Aug, 2011 12:00am
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
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
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
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
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: 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: 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
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
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
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
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
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
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
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
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
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
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
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