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Print - 2011-08-17
Justice Tariq's services eulogised

Justice Tariq's services eulogised

Chief Justice and the judges of the Lahore High Court see off Justice Chaudhry Muhammad Tariq when he left the high court after spending his last day with the judges. Chief Justice Ijaz Ahmed Chaudhry presented a flower bouquet and see him off with the ot
Published 17 Aug, 2011 12:00am
'Sialkot should be given EPZ status'

'Sialkot should be given EPZ status'

Almost all trade bodies, manufacturers and exporters urged upon the Federal Government that Sialkot should be declared Export Processing Zone (EPZ) for a considerable increase in export volume
Published 17 Aug, 2011 12:00am
President signs regulation for Wana Cadet College in SWA

President signs regulation for Wana Cadet College in SWA

President Asif Ali Zardari on Tuesday signed the regulation for establishment of Wana Cadet College in South Waziristan Agency FATA. Spokesperson to the President Farhatullah Babar said that the Prime Minister during his address at the Governor House Pesh
Published 17 Aug, 2011 12:00am
Hoax bomb call creates panic

Hoax bomb call creates panic

A bomb hoax spread panic in the Lahore High Court early morning when an anonymous telephonic call received at the registrar office informed that a van full of explosive material is parked at the LHC stand. The bomb disposal squad was called immediately wh
Published 17 Aug, 2011 12:00am
NICL scam case: Supreme Court orders FIA DG to assist Zafar Qureshi

NICL scam case: Supreme Court orders FIA DG to assist Zafar Qureshi

The Supreme Court (SC) on Tuesday ordered Tehsin Anwar Ali, DG, FIA, to assist Additional Director, FIA, Zafar Qureshi, lead investigator of multi-billion National Insurance Company Limited (NICL) scam. Furthermore, the DG, FIA, was also directed to cance
Published 17 Aug, 2011 12:00am
100 new posts of Law Officers: board drops FBR Members' proposals

100 new posts of Law Officers: board drops FBR Members' proposals

Board-in-Council of the Federal Board of Revenue has dropped a proposal of the FBR Members to create 100 new posts of Law Officers in BS-17 for posting in Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) to reduce litigation and deal with the l
Published 17 Aug, 2011 12:00am
Sindh government closely monitoring flood situation: Sassi

Sindh government closely monitoring flood situation: Sassi

Provincial Minister of Sindh Sassi Palejo has said that a lot of work has to be done in the disaster management area. Talking to a private news channel, she said that a lot was said about the disaster management during Musharraf regime but practical steps
Published 17 Aug, 2011 12:00am
Workshop held on IT, ST returns e-filing

Workshop held on IT, ST returns e-filing

On the directions of Khawar Khurshid Butt, Member, Inland Revenue, Federal Board of Revenue (FBR), a workshop regarding training on e-filing of income tax and sales tax returns was held at Regional Tax Office Rawalpindi on Tuesday. The workshop was held u
Published 17 Aug, 2011 12:00am
Saleem Shahzad Commission questions senior officers

Saleem Shahzad Commission questions senior officers

The Saleem Shahzad murder probe commission on Tuesday questioned senior officers of Inter Services Intelligence (ISI) and Intelligence Bureau (IB). Talking to media after meeting of the commission in the Supreme Court Lahore Registry on Tuesday, the Commi
Published 17 Aug, 2011 12:00am
Air Chief Marshal calls on President

Air Chief Marshal calls on President

Chief of Air Staff, Air Chief Marshal Rao Qamar Suleman called on President Asif Ali Zardari at the Aiwan-e-Sadr here on Tuesday and discussed matters pertaining to professional capabilities of the Air force. The Air Chief also apprised the President abou
Published 17 Aug, 2011 12:00am
No change in payment mode of duty/tax on sugar: FBR

No change in payment mode of duty/tax on sugar: FBR

The Federal Board of Revenue (FBR) has categorically conveyed to the sugar mills that the mode of payment and collection of duty/tax on sugar has not been changed in the budget for 2011-12, and the federal excise duty (FED) @ 8 percent would be chargeable
Published 17 Aug, 2011 12:00am
FAFEN finds dispensaries in pathetic conditions

FAFEN finds dispensaries in pathetic conditions

Government needs to invest more in the state-run dispensaries, the first unit in the healthcare infrastructure, to enable them to effectively cope with the basic medical needs of the people. The government investment in medicine, services, equipment and i
Published 17 Aug, 2011 12:00am
Hearing adjourned

Hearing adjourned

A three-member bench of the Supreme Court headed by Chief Justice Iftikhar Muhammad Chaudhry on Tuesday adjourned hearing of National Bank Employees Welfare Fund scam case for three weeks. During the course of hearing, Hashmat Habib, counsel for the appli
Published 17 Aug, 2011 12:00am
116 shopkeepers, vendors fined for overcharging

116 shopkeepers, vendors fined for overcharging

On the instructions of Punjab government, the he price control magistrates conducted raids on different markets to check prices of essential commodities. During the inspection, 116 shopkeepers and vendors were found involved in overpricing and were realis
Published 17 Aug, 2011 12:00am
Khyber Pakhtunkhwa to plant 5.113 million saplings

Khyber Pakhtunkhwa to plant 5.113 million saplings

The Forest Department of the Khyber Pakhtunkhwa will plant 5.113 million saplings of different species in the current monsoon tree plantation campaign in the province. The department is giving special focus on tree plantation in Malakand, Hazara circle an
Published 17 Aug, 2011 12:00am
Warning of dangerous times ahead

Warning of dangerous times ahead

It is very rare for a World Bank chief to issue successive warnings about the gravity of the impending risks to the world economy and their capacity to destabilise the whole system. Talking to an Australian newspaper on 13th August, 2011, Robert Zoellick
Published 17 Aug, 2011 12:00am
Pacifying Balochistan

Pacifying Balochistan

Recounting his government's achievements in his Independence Day address to the nation, Prime Minister Yousuf Raza Gilani said that implementation of the 39-point Aghaz-e-Haqooq-e-Balochistan package, currently in progress, would address Baloch grievances
Published 17 Aug, 2011 12:00am
Major reforms?

Major reforms?

Ever since independence, the successive governments and the political leaders have been expressing their resolve to repeal the FCR, integrate the tribal areas with rest of the country and grant political and fundamental rights to its people, as guaranteed
Published 17 Aug, 2011 12:00am
The 7 deadly sins of sales management

The 7 deadly sins of sales management

I have been part of many business turnarounds in my career, and in all situations I have noted the errors consistently made by sales management, all of which negatively impact team morale and sales. Here are seven of the deadly sins of sales management.
Published 17 Aug, 2011 12:00am
Young Indonesian entrepreneurs emerging via internet

Young Indonesian entrepreneurs emerging via internet

Nadiem Makarim belongs to a new breed of entrepreneurs in Indonesia: young, technology savvy and well-educated. Faced with a daily traffic gridlock for which Jakarta is famous, the 27-year-old man decided to start a motorcycle taxi company, taking advanta
Published 17 Aug, 2011 12:00am
Curbing unemployment

Curbing unemployment

Increasing unemployment is the dilemma of each and every country, whether it is developed or underdeveloped country but majority of the countries have already started working on it, using different approaches through short-term and long-term strategies.
Published 17 Aug, 2011 12:00am
Adamjee Insurance Company Limited

Adamjee Insurance Company Limited

Incorporated in September 1960, Adamjee Insurance is the biggest player in the non-life insurance sector, which, coupled with life insurance, has a meagre 0.7 percent representation in the GDP. However, the company offers the widest range of products whic
Published 17 Aug, 2011 12:00am
Adamjee Insurance Company Limited

Adamjee Insurance Company Limited

Incorporated in September 1960, Adamjee Insurance is the biggest player in the non-life insurance sector, which, coupled with life insurance, has a meagre 0.7 percent representation in the GDP. However, the company offers the widest range of products whic
Published 17 Aug, 2011 12:00am
AFCSR celebrates its tenth year

AFCSR celebrates its tenth year

The annual Asian Forum on Corporate Social Responsibility (AFCSR) celebrates its tenth year with its biggest conference yet as it returns to home base in Manila, Philippines at the EDSA Shangri-la Hotel on October 18 and 19, 2011. Organised by the Asian I
Published 17 Aug, 2011 12:00am
New Hyderabad development package approved: DCO

New Hyderabad development package approved: DCO

As many as 4 mega development schemes have been identified at the total cost of Rs 620 million for the improvement and beautification of Qasimabad Taluka with provision of efficient drainage system. This was informed in a meeting regarding implementation
Published 17 Aug, 2011 12:00am
KCCI opposes changes in ST, federal excise return

KCCI opposes changes in ST, federal excise return

Vice President, Karachi Chamber of Commerce and Industry (KCCI), Junaid Esmail Makda has written to FBR that the applicability of new sales tax and federal excise return should be deferred unless all the stakeholders including trade bodies, associations a
Published 17 Aug, 2011 12:00am
EU-specified fishing boat modification programme extended till June

EU-specified fishing boat modification programme extended till June

The Sindh government has extended the EU specified fishing boat modification programme till June 2012 to meet the 500 modified vessels target in a bid to get rid of a four-year ban slapped on Pakistan's seafood export to European markets in 2007 on qualit
Published 17 Aug, 2011 12:00am
Dengue ward to be set up at Abbasi Shaheed

Dengue ward to be set up at Abbasi Shaheed

The city government has decided to set up a special 40-bed dengue ward at Abbasi Shaheed Hospital. It has also signed an agreement with a private laboratory to supply platelet to ensure availability of necessary platelets when required.
Published 17 Aug, 2011 12:00am
USAID Director meets Multan factory employees

USAID Director meets Multan factory employees

The US Agency for International Development (USAID) Director for Pakistan Andrew Sisson met with employees at a Multan factory who were hired after completing a US-funded vocational training, says a press release received here on Tuesday. The 150 women wh
Published 17 Aug, 2011 12:00am
13 persons killed over family disputes

13 persons killed over family disputes

Thirteen persons of two different families were gunned down in two separate incidents here on Tuesday. The first incident occurred at Garhi Khan Baba in the limit of Khazana police station on Charsadda Road, in which Abdul Ghaffar along with his accomplic
Published 17 Aug, 2011 12:00am
Nusrat Fateh Ali Khan death anniversary observed

Nusrat Fateh Ali Khan death anniversary observed

The pride of Pakistan and the Magical Voice of sub-continent Nusrat Fateh Ali Khan's 14th death anniversary was observed on Tuesday. The mesmerising singer was born on October 13, 1948 in the city of Faisalabad, Pakistan. His father Ustad Fateh Ali Khan,
Published 17 Aug, 2011 12:00am
Deweaponisation a national issue, says Malik

Deweaponisation a national issue, says Malik

Deweaponisation is not an issue of Karachi or any other city, but a national one, which needs joint and co-ordinated efforts to help curb crimes and other incidents of lawlessness, said Rehman Malik Interior Minister here on Tuesday.
Published 17 Aug, 2011 12:00am
IPO expresses concern over selling of low quality products

IPO expresses concern over selling of low quality products

Enforcement Committee of the Intellectual Property Organisation (IPO) Pakistan has expressed deep concern over selling of inferior quality products being produced in the name of quality and registered Trade Mark holder Entrepreneurs. The committee met her
Published 17 Aug, 2011 12:00am
IPO expresses concern over selling of low quality products

IPO expresses concern over selling of low quality products

Enforcement Committee of the Intellectual Property Organisation (IPO) Pakistan has expressed deep concern over selling of inferior quality products being produced in the name of quality and registered Trade Mark holder Entrepreneurs. The committee met her
Published 17 Aug, 2011 12:00am
'Decline in FDI a point of concern for entire nation'

'Decline in FDI a point of concern for entire nation'

Decline of over 60.8 percent in foreign direct investment (FDI) in first month of the fiscal year 2011-12 is alarming and point of concern for entire nation, said Ali Raza Saeed Shah, President Rawalpindi Chamber of Commerce and Industry (RCCI) here on Tu
Published 17 Aug, 2011 12:00am
Civil society activists mulling launching movement against corruption

Civil society activists mulling launching movement against corruption

In the wake of the protest movement launched in India by Anna Hazare against the anti-corruption bill passed by the Lok Sabha many a civil activists in Pakistan is considering a similar movement. Anna Hazare taken into custody on the eve of the day he ple
Published 17 Aug, 2011 12:00am
Maulvi Abdul Haq's death anniversary observed

Maulvi Abdul Haq's death anniversary observed

Great linguist and scholar, Maulvi Abdul Haq, who nation regards as Baba-e-Urdu's death anniversary, was observed on Tuesday. For his achievements in the development and promotion of Urdu literature, he is officially regarded as Baba-e-Urdu.
Published 17 Aug, 2011 12:00am
Mufti Ali Usmani passes away

Mufti Ali Usmani passes away

A prominent religious scholar Sheikhul Hadith Mufti Ali Usmani has been laid to rest at his ancestral graveyard here on Tuesday. His funeral prayers were read by prominent religious scholar Mufti Abdur Rauf and attended by religious scholars, intellectual
Published 17 Aug, 2011 12:00am
US MIDDAY: gold soars

US MIDDAY: gold soars

Gold prices rose 1 percent early on Tuesday on heightened investor uncertainty after the leaders of France and Germany said they would push for closer joint governance of economic policy and float proposals for a tax on financial transactions.
Published 17 Aug, 2011 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

Copper ended down after touching its lowest level in a week on Tuesday, as risk appetite subsided after surprisingly weak German growth data fanned worries about a faltering global economic recovery. Losses were sustained in after-hours business after a m
Published 17 Aug, 2011 12:00am
US MIDDAY: wheat and corn rise

US MIDDAY: wheat and corn rise

US wheat prices reversed early losses to rise for a sixth straight session early on Tuesday amid low yields from the spring wheat harvest. The turnaround in wheat futures also helped corn and soyabean futures to pare losses, as the grain market shook off
Published 17 Aug, 2011 12:00am
Gold rises in Europe

Gold rises in Europe

Gold prices rose on Tuesday ahead of a summit between French and German leaders on the eurozone debt crisis, though the precious metal pared gains after rating agency Fitch affirmed its triple-A rating on the United States. The Fitch news helped European
Published 17 Aug, 2011 12:00am
Gold steadies in Asia

Gold steadies in Asia

Spot gold held onto gains made in the previous session on Tuesday, but hopes that a Franco-German summit will make progress to help quell the region's sovereign debt crisis are expected to keep a lid on prices. Spot gold was little changed at $1,766.39 an
Published 17 Aug, 2011 12:00am
US gold rises

US gold rises

Gold rose 1 percent on Monday, as a drop in the dollar and sharp gains in crude oil and grains lifted bullion ahead of Tuesday's French-German meeting to discuss the euro debt crisis. The gains also preceded US regulatory filings that will show changes in
Published 17 Aug, 2011 12:00am
Liffe sugar, coffee and cocoa up

Liffe sugar, coffee and cocoa up

Sugar futures climbed on Tuesday and the rest of the softs complex rose as well in mostly modest business as the market waited for direction, with the macro worries over global growth lurking in the background, analysts said. Global stocks fell and the eu
Published 17 Aug, 2011 12:00am
New York coffee, cocoa higher

New York coffee, cocoa higher

Arabica coffee futures settled up more than 2 percent on Monday, on short-covering and position rolling in heavy volume. US cocoa also saw a firm close on short-covering and a lift from the strong pound, while sugar eased in thin dealings as many investor
Published 17 Aug, 2011 12:00am
Malaysian palm oil snaps four-day rally

Malaysian palm oil snaps four-day rally

Malaysian palm oil reversed earlier gains on Tuesday and snapped a four day rally, tracking a wider sell-off among many commodities as macro data stoked investor concerns about the health of the global economy. The benchmark October contract on the Bursa
Published 17 Aug, 2011 12:00am
Tokyo, Shanghai rubber down

Tokyo, Shanghai rubber down

Key Tokyo rubber futures erased earlier gains and settled slightly lower on Tuesday, tracking a weaker Shanghai rubber futures market. The benchmark rubber contract on the Tokyo Commodity Exchange for January delivery settled down 1 yen at 363.8 yen per k
Published 17 Aug, 2011 12:00am
Oil falls as eurozone worries remain

Oil falls as eurozone worries remain

Crude oil prices fell on Tuesday after a meeting between French and German leaders failed to ease concerns about the eurozone debt crisis. French President Nicolas Sarkozy and German Chancellor Angela Merkel proposed a tax on financial transactions and cl
Published 17 Aug, 2011 12:00am
Copper declines

Copper declines

Copper touched its lowest in a week on Tuesday, as the dollar rose against a basket of currencies and attention returned to the uncertain outlook for the global economy, prompting investors to reduce their exposure to assets perceived as risky.
Published 17 Aug, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

The most-active November copper contract on the Shanghai Futures Exchange fell 1.2 percent to close at 66,490 yuan per tonne on Tuesday. Elsewhere, Shanghai's third month zinc fell more than 3 percent to 16,600 yuan a tonne. It fell after hitting the day'
Published 17 Aug, 2011 12:00am
US copper rises

US copper rises

Copper ended with a 0.5-percent gain on Monday, supported by broader market strength and brighter Asian demand prospects seen in the aftermath of a two-week slide in international market values.
Published 17 Aug, 2011 12:00am
Weak stainless demand to sap nickel strength

Weak stainless demand to sap nickel strength

Deteriorating demand from stainless steel mills and rising mine production are likely to push the nickel market into surplus in the second half of the year and put modest pressure on prices. The uncertain outlook for global economic growth and demand beca
Published 17 Aug, 2011 12:00am
Turkmen leader orders removal of satellite dishes

Turkmen leader orders removal of satellite dishes

Turkmenistan's leader ordered on Tuesday the removal of satellite dishes from apartment blocks in a move that could restrict access to foreign television channels in the reclusive Central Asian state. President Kurbanguly Berdymukhamedov, whose word is fi
Published 17 Aug, 2011 12:00am
Reporter implicates Murdoch executives and former Cameron aide

Reporter implicates Murdoch executives and former Cameron aide

Phone hacking was widely known about at Rupert Murdoch's News of the World, according to a reporter blamed as the sole culprit, contradicting repeated denials by senior executives and dragging Britain's prime minister back into the scandal. In a letter wr
Published 17 Aug, 2011 12:00am
Thousands protest over Afghan vote rigging row

Thousands protest over Afghan vote rigging row

Afghan lawmakers and thousands of their supporters took to the streets of Kabul on Tuesday to protest at the latest twist in a row over fraud in elections last year, officials said. Afghanistan is currently gripped by what experts say is a constitutional
Published 17 Aug, 2011 12:00am
Canada restores 'royal' name to its navy, air force

Canada restores 'royal' name to its navy, air force

The Royal Canadian Navy and the Royal Canadian Air Force will sail and fly again. Defence Minister Peter MacKay announced Tuesday the government was restoring the historic names of these two branches of its military, after years of pressure from veterans
Published 17 Aug, 2011 12:00am
Rebels scorn talks with isolated Qadhafi

Rebels scorn talks with isolated Qadhafi

Rebels fighting to topple Muammar Qadhafi scorned reports of secret talks with the Libyan leader on Monday as their forces fought to secure gains and the United States said Qadhafi's days were numbered. After 41 years of supreme power in his oil-rich dese
Published 17 Aug, 2011 12:00am
$360 million lost to insurgents, criminals in Afghanistan

$360 million lost to insurgents, criminals in Afghanistan

The US military estimates that $360 million spent on combat support and reconstruction contracts in Afghanistan has ended up in the hands of people the American-led coalition has battled for nearly a decade: the Taliban, criminals and local power brokers
Published 17 Aug, 2011 12:00am
Arrest of anti-graft activist sparks anger in India

Arrest of anti-graft activist sparks anger in India

The arrest of India's leading anti-corruption campaigner hours ahead of a planned hunger strike on Tuesday has set off nation-wide protests, putting the government on the spot over its commitment to fighting graft in Asia's third-largest economy.
Published 17 Aug, 2011 12:00am
Russia shows off its first stealth fighter

Russia shows off its first stealth fighter

Russia on Tuesday unveiled its first stealth fighter to the public, lifting the curtain on a secret project designed to flood the market with cheaper versions of better-known US jets. The Sukhoi Tu-50, being developed jointly by Russia and India, made its
Published 17 Aug, 2011 12:00am
Zimbabwe 'kingmaker' general dies in fire

Zimbabwe 'kingmaker' general dies in fire

A retired Zimbabwean army general and key figure in internal battles over President Robert Mugabe's succession in his ZANU-PF party has died in a fire at his farmhouse, government officials said on Tuesday. General Solomon Mujuru, 67, popularly known by h
Published 17 Aug, 2011 12:00am
Greenpeace hands Rainbow Warrior to Bangladesh charity

Greenpeace hands Rainbow Warrior to Bangladesh charity

Environmental campaign group Greenpeace on Tuesday handed over its iconic protest ship Rainbow Warrior II to a Bangladeshi charity which will turn it into a floating hospital. Greenpeace said it hoped that Friendship would continue to use the ship as a be
Published 17 Aug, 2011 12:00am
Iraq MPs slash top politicians' salaries

Iraq MPs slash top politicians' salaries

MPs voted to slash their wages and those of ministers and top officials on Tuesday, a lawmaker said, several months after such plans were initially mooted to quell street protests across Iraq. "Parliament voted today by a simple majority to reduce the sal
Published 17 Aug, 2011 12:00am
83 hopefuls apply for Kyrgyz presidency

83 hopefuls apply for Kyrgyz presidency

Election officials in Kyrgyzstan must whittle down a field of more than 80 presidential hopefuls before a contest that analysts say could expose divisions between the north and south of the volatile Central Asian state. The Central Election Commission sai
Published 17 Aug, 2011 12:00am
India's inflation eases

India's inflation eases

India's annual inflation slowed in July but remained near double digits, making further interest rate hikes likely despite global economic uncertainty, economists said Tuesday. Inflation, according to the benchmark wholesale price index, slipped to 9.22 p
Published 17 Aug, 2011 12:00am
Germany seeks local investor for EADS stake

Germany seeks local investor for EADS stake

Germany is starting to look for domestic private investors to buy part of Daimler's stake in EADS and keep German influence at the European aerospace group, ruling coalition sources said on Tuesday. "The starting shot has been fired," one source close to
Published 17 Aug, 2011 12:00am
French judges open investigation into IMF's Lagarde

French judges open investigation into IMF's Lagarde

French magistrates formally opened an investigation into IMF chief Christine Lagarde on Tuesday for possible misconduct in approving a huge payment to a friend of President Nicolas Sarkozy when she was finance minister. The decision to start the probe dur
Published 17 Aug, 2011 12:00am
Kuwait headed for record income, surplus

Kuwait headed for record income, surplus

Kuwait was forecast on Tuesday to post record revenues and a budget surplus in the current 2011/2012 fiscal year on the back of high oil prices. The oil-rich Gulf state which amassed budget surpluses of more than $200 billion in the past 12 fiscal years i
Published 17 Aug, 2011 12:00am
Australian and New Zealand dollars up

Australian and New Zealand dollars up

The Australian dollar and New Zealand clung to modest gains on Tuesday, underpinned by improving investor confidence globally and hopes of progress in EU debt talks, though they remain vulnerable to yet more disappointment from Europe. The Aussie dipped a
Published 17 Aug, 2011 12:00am
No quick fix seen to money market stress

No quick fix seen to money market stress

The stress affecting the interbank lending market looks set to remain high in the medium term, analysts said on Tuesday, with the rapid deterioration in funding conditions seen in recent weeks set to hamper markets for months to come. As worries over the
Published 17 Aug, 2011 12:00am
Swiss franc up versus euro

Swiss franc up versus euro

The Swiss franc rose against the euro and the dollar on Tuesday as renewed worries about the eurozone crisis pushed investors towards the safe-haven currency despite the Swiss National Bank's warning it could take more measures to stem the franc's rise.
Published 17 Aug, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 74.62/74.70 (previous 74.73/74.74). Call Money Rates: 11.00-12.00 percent (previous 8.50-12.00 percent).
Published 17 Aug, 2011 12:00am
Won rises

Won rises

The South Korean won rose on Tuesday as rebounding stock markets and expectations that China will allow the yuan to appreciate more rapidly enticed hedge funds and real money accounts back into emerging Asian currencies. Many investors remained cautious,
Published 17 Aug, 2011 12:00am
Yuan at record high

Yuan at record high

The yuan closed up against the dollar on Tuesday, hitting an all-time trading peak late in the session, as the People's Bank of China fixed its reference rate at a new high for the fifth straight day, a sign Beijing may be engineering a "mini-revaluation"
Published 17 Aug, 2011 12:00am
Indian rupee pares gains

Indian rupee pares gains

The Indian rupee reversed early gains to end weaker on Tuesday as local shares turned choppy and the euro pulled back after data showing slower-than-expected growth in Germany renewed fears of a global economic slowdown. The partially convertible rupee en
Published 17 Aug, 2011 12:00am
Swiss franc falls in New York

Swiss franc falls in New York

The Swiss franc fell to a two-week low against the euro and dollar on Monday on speculation the Swiss National Bank may soon take action to curb gains in the currency by setting an exchange-rate target this week. The euro, meanwhile, rose to nearly three-
Published 17 Aug, 2011 12:00am
Euro slips in midday trade

Euro slips in midday trade

The euro slid on Tuesday as weak German and eurozone data sparked fears of a slowdown, although demand for the dollar and other safe-haven currencies was curbed after Fitch affirmed the United States' top credit rating. The euro traded above $1.44 while t
Published 17 Aug, 2011 12:00am
Euro falls in London

Euro falls in London

The euro fell on Tuesday, retreating from a three-week high versus the dollar, after weak German and eurozone growth data sparked concerns about a slowdown and piled pressure on policymakers to act decisively to address the region's debt problems. German
Published 17 Aug, 2011 12:00am
Euro slips in Asia

Euro slips in Asia

The euro dipped against the dollar on Tuesday, having eased off the previous day's three-week high, with the focus on whether a Franco-German summit will lay the groundwork for further measures to help quell the eurozone's sovereign debt crisis. The euro
Published 17 Aug, 2011 12:00am
Sterling moves up

Sterling moves up

Sterling rose on Tuesday, hitting a one-week high versus the dollar, as data showed inflation rose slightly more than expected in July, reducing the risk of more quantitative easing by the Bank of England. But with the UK economy fragile and UK interest r
Published 17 Aug, 2011 12:00am
Banks support FTSE

Banks support FTSE

Britain's top shares ended a shade higher on Tuesday, notably banks, after a better than forecast report on industrial output in the United States and as Fitch confirmed that nation's top credit rating with a stable outlook. The UK benchmark index ended u
Published 17 Aug, 2011 12:00am
European shares snap three-day rise

European shares snap three-day rise

European shares pared heavy early losses to close flat after mixed data from Europe and the United States, with investors cautiously awaiting the outcome of a meeting between France's President and Germanys' Chancellor on Europe's debt crisis. After the m
Published 17 Aug, 2011 12:00am
Seoul shares rebound strongly

Seoul shares rebound strongly

Seoul shares staged a strong rebound on Tuesday, rising nearly 5 percent in post-holiday trade to log the best daily percentage gain in more than two years, as foreign investors ended their selling streak, heartened by solid gains in US stocks. The index
Published 17 Aug, 2011 12:00am
China, Hong Kong shares down

China, Hong Kong shares down

Hong Kong shares edged lower on Tuesday dragged by property names focused on the territory in anticipation of a slowdown in global growth and the Hong Kong property market, but resilience in China-related names could limit losses.
Published 17 Aug, 2011 12:00am
Major Southeast Asia markets retreat

Major Southeast Asia markets retreat

Major Southeast Asian stock markets retreated on Tuesday, giving up early gains as stagnant growth in European powerhouse Germany triggered risk aversion and prompted late selling in regional big-caps and financial stocks. Risk appetite appeared to be fad
Published 17 Aug, 2011 12:00am
Treasuries decline

Treasuries decline

Treasuries fell in light volume on Monday as a third day of stock market gains drew investors away from safe-haven US government debt. US stocks and oil prices rose on acquisition news - Google offered to buy Motorola Mobility Holdings Inc for about $12.5
Published 17 Aug, 2011 12:00am
Treasuries decline

Treasuries decline

Treasuries fell in light volume on Monday as a third day of stock market gains drew investors away from safe-haven US government debt. US stocks and oil prices rose on acquisition news - Google offered to buy Motorola Mobility Holdings Inc for about $12.5
Published 17 Aug, 2011 12:00am
Taiwan stocks slip

Taiwan stocks slip

Taiwan stocks slipped 0.27 percent on Tuesday, but Motorola suppliers rallied following Google Inc's bid to acquire Motorola Mobility Holdings Inc. The main TAIEX index ended down 20.8 points at 7,798.59, weighed down by lingering concern over a global ec
Published 17 Aug, 2011 12:00am
Google deal boosts US shares for third day

Google deal boosts US shares for third day

Wall Street stocks rose for a third day on Monday as investors saw Google's offer for phone maker Motorola Mobility as an excuse to jump back into the market after weeks of sharp selling. Acquisition activity is often viewed as a sign major corporations s
Published 17 Aug, 2011 12:00am
Tuesday's early trade: market lower after Sarkozy comments

Tuesday's early trade: market lower after Sarkozy comments

The Dow briefly turned higher and the S&P 500 and Nasdaq pared losses before reversing course and heading lower again on Tuesday after comments by French President Nicolas Sarkozy on eurozone proposals. The Dow Jones industrial average was down 45.22 poin
Published 17 Aug, 2011 12:00am
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