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Print - 2011-08-20
Biden seeks to reassure China on US debt

Biden seeks to reassure China on US debt

US Vice President Joe Biden on Friday said China had "nothing to worry about" concerning the safety of its vast holdings of Treasury debt, while China's Premier Wen Jiabao gave a ringing endorsement of the resilience of the debt-ridden US economy. The exc
Published 20 Aug, 2011 12:00am
South Africa mine union rejects revised Implats offer

South Africa mine union rejects revised Implats offer

South Africa's National Union of Mineworkers members at Impala Platinum on Friday rejected a revised pay rise offer from the world's second largest producer of the precious metal and will refer the dispute to arbitration. The platinum sector is the latest
Published 20 Aug, 2011 12:00am
BofA cutting 3,500 jobs this quarter

BofA cutting 3,500 jobs this quarter

Bank of America will eliminate 3,500 jobs by the end of September, joining a growing list of banks repositioning themselves world-wide amid stubbornly slow economic recoveries. For BofA, the biggest US bank by assets, the job cuts continue a broad push to
Published 20 Aug, 2011 12:00am
Mexico awards first private oil contracts

Mexico awards first private oil contracts

Mexico's state-owned oil company Pemex said Thursday it had granted three operating contracts to private British and Mexican firms, putting an end to a state monopoly in place since 1993. The oil fields concerned, all in eastern Tabasco state, are already
Published 20 Aug, 2011 12:00am
Spain unveils austerity measures, cuts sales tax

Spain unveils austerity measures, cuts sales tax

Spain announced further austerity measures on Friday while also unveiling a halving of sales tax on house purchases as it seeks to strike a balance between cutting its deficit and stimulating anaemic economic growth. The 5 billion euros ($7 billion) of sa
Published 20 Aug, 2011 12:00am
Bargain hunters wary of cheap bank stocks

Bargain hunters wary of cheap bank stocks

European bank shares have been knocked to two-year lows by deepening fears about the global economy and the threat the eurozone crisis may spur more capital raising. Bargain hunters are not biting yet. The lowly valuations reflect a deeply bearish view on
Published 20 Aug, 2011 12:00am
Brazil inflation pierces seven percent, hits rate cut hopes

Brazil inflation pierces seven percent, hits rate cut hopes

Brazilian inflation pierced above the 7 percent mark for the first time since 2005, dealing a sharp blow to hopes that the central bank could cut interest rates as the economy shows signs of slowing down. The jump exceeded even the most pessimistic expect
Published 20 Aug, 2011 12:00am
Zimbabwe demands 13 foreign firms sell off majority

Zimbabwe demands 13 foreign firms sell off majority

Zimbabwe's government has given 13 foreign firms an ultimatum to sell off majority stakes to local partners to comply with a new law or risk being taken over, a state daily reported Friday. "Barclays Bank, Standard Chartered, six mining companies and five
Published 20 Aug, 2011 12:00am
Southeast Asian stocks tumble

Southeast Asian stocks tumble

Southeast Asian stock markets tumbled on Friday, with index heavyweights coming under selling pressure as investors shifted money out of riskier assets because of worries over slowing global growth. Indonesia suffered its biggest fall in two weeks, tumbli
Published 20 Aug, 2011 12:00am
Indian shares fall for fourth straight week

Indian shares fall for fourth straight week

Indian shares fell nearly 2 percent on Friday to log their fourth straight weekly loss, their longest weekly losing streak since the Lehman collapse, as fears of the United States sliding into a recession triggered a global flight from risky assets. Linge
Published 20 Aug, 2011 12:00am
Friday's midday trade: stocks little changed

Friday's midday trade: stocks little changed

US stocks were little changed on Friday, but commodity-related shares rose on energy and gold prices, while Hewlett-Packard dragged on the Dow industrials. Hewlett-Packard's shares tumbled 20.1 percent to a six-year low, a day after the company said it ma
Published 20 Aug, 2011 12:00am
Beaten-down: Wall Street slammed by recession fears

Beaten-down: Wall Street slammed by recession fears

Rising fears of another recession hammered US stocks on Thursday, sending major averages sharply lower in a return to the extreme fluctuations investors endured a week ago. New worries about the health of European banks set the tone before the market's op
Published 20 Aug, 2011 12:00am
Seoul shares post worst loss since 2008 crisis

Seoul shares post worst loss since 2008 crisis

Seoul shares fell for a second day on Friday, posting their worst daily percentage loss since the global financial crisis in late 2008, as fears grew over a possible US recession and the lack of a breakthrough in the euro zone fiscal crisis. South Korean
Published 20 Aug, 2011 12:00am
US bonds rally

US bonds rally

More fears about the global economy drove prices of safe-haven US government bonds up on Thursday and perceptions about the US and eurozone outlook are likely to govern trading in coming days. Early buying intensified after data showed factory activity in
Published 20 Aug, 2011 12:00am
US bonds rally

US bonds rally

More fears about the global economy drove prices of safe-haven US government bonds up on Thursday and perceptions about the US and eurozone outlook are likely to govern trading in coming days. Early buying intensified after data showed factory activity in
Published 20 Aug, 2011 12:00am
Nikkei falls 2.5 percent

Nikkei falls 2.5 percent

The Nikkei stock average fell 2.5 percent for its third straight day of declines, hurt by US recession fears and an earthquake that rattled north-east Japan in late trade, but the benchmark managed to hold above lows marked earlier this month. Asian inves
Published 20 Aug, 2011 12:00am
European shares end torrid week in the red

European shares end torrid week in the red

European shares ended Friday and the week firmly in the red after global growth, sovereign debt and bank funding concerns led a broad-based flight from equity market risk and helped push an index of leading lenders to a fresh two-year low. Banks fell from
Published 20 Aug, 2011 12:00am
Hong Kong, China shares slide

Hong Kong, China shares slide

Hong Kong shares slumped on Friday and may fall more in the near-term, thanks to increased volumes of short-selling as long-term investors look to enter the market given this month's sharp price-drops. Losses were exacerbated on Friday as European and Uni
Published 20 Aug, 2011 12:00am
Britain's top shares index slips

Britain's top shares index slips

Britain's top share index slid again on Friday, adding to the previous day's rout, in a turbulent session driven by fears about the outlook for the global economy and the eurozone debt crisis. The UK benchmark index ended 51.47 points, or 1.0 percent, low
Published 20 Aug, 2011 12:00am
Sterling up versus dollar

Sterling up versus dollar

Sterling hit a 3-1/2 month high against the dollar on Friday, putting it on track for its best weekly performance since mid-January, as investors wary about funding problems in the eurozone and a recession in the US preferred to buy the pound. But Britain
Published 20 Aug, 2011 12:00am
Euro, commodity currencies down in Asia

Euro, commodity currencies down in Asia

The euro and commodity currencies such as the Australian dollar came under pressure on Friday after a raft of weak US economic data and concerns about European banks sent skittish investors piling into US Treasuries and away from stocks. Mounting fears of
Published 20 Aug, 2011 12:00am
Euro reverses losses in London

Euro reverses losses in London

The euro recovered early losses on Friday in thin trade, gaining momentum on stop-loss selling, but remained at risk of coming under renewed pressure from a darkening global economic outlook and worries the eurozone banking sector could face more funding
Published 20 Aug, 2011 12:00am
Midday trade in New York: dollar plunges to all-time low versus yen

Midday trade in New York: dollar plunges to all-time low versus yen

The euro rebounded on Friday as an early sell-off lost steam on central bank demand and technical buying, although the currency was vulnerable due to fears about eurozone banks and a gloomy global outlook. In midday New York trading, the euro was up 0.5 p
Published 20 Aug, 2011 12:00am
Dollar, yen up in New York

Dollar, yen up in New York

The dollar and Japanese yen rose broadly on Thursday as investors stampeded into safe-haven currencies on signs of a weakening US economy and concerns over European banks' exposure to eurozone debt. A deluge of dismal US economic data and eurozone fears r
Published 20 Aug, 2011 12:00am
Swiss franc rises

Swiss franc rises

The Swiss franc rose against both the euro and the dollar on Friday as growing signs of a slowdown in the US economy and concerns some European banks may face short-term funding stress sapped investor appetite for risky assets. The franc rose 0.6 percent
Published 20 Aug, 2011 12:00am
Yuan lower

Yuan lower

The yuan closed down against the dollar on Friday as traders said a weaker-than-expected central bank fixing sparked a wave of short covering in dollars, although the market was still confident in continued yuan appreciation in the near term. Spot yuan cl
Published 20 Aug, 2011 12:00am
Won down for fourth week, debt woes hit Asian FX

Won down for fourth week, debt woes hit Asian FX

The South Korean won slid for a fourth consecutive week as investment banks and hedge funds on Friday cut exposure in emerging Asian currencies on mounting concerns of a slowing global economy and European debt crisis. The won and its peers are expected t
Published 20 Aug, 2011 12:00am
Dollar funding costs rebound

Dollar funding costs rebound

Dollar funding costs for eurozone banks rose on Friday on fears that a bleak economic outlook in the United States and the spreading eurozone debt crisis could take a heavy toll on the region's banking sector. Investors sought dollars via FX swaps while s
Published 20 Aug, 2011 12:00am
Australian and New Zealand dollars give ground

Australian and New Zealand dollars give ground

The Australian and New Zealand dollars dropped to one-week lows on Friday as investors avoided risky assets for the safety of bonds after dire US data raised the spectre of world recession while concerns about European banks mounted. Australian government
Published 20 Aug, 2011 12:00am
UEFA launches proceedings against Wenger

UEFA launches proceedings against Wenger

Arsene Wenger faces a disciplinary hearing for allegedly breaching the terms of his touchline ban during the Gunners' 1-0 Champions League win over Udinese, UEFA confirmed on Friday. Wenger, who was banished to the stands for Tuesday's tie as a result of
Published 20 Aug, 2011 12:00am
Nadal, Djokovic, Federer advance to quarters

Nadal, Djokovic, Federer advance to quarters

Top seed Novak Djokovic breezed through his third round match Thursday but world No 2 Rafael Nadal was pushed to the limit before he reached the quarter-finals of the Cincinnati Masters. Nadal extended his perfect record against Fernando Verdasco but need
Published 20 Aug, 2011 12:00am
No quick fix for Australia's ills

No quick fix for Australia's ills

The author of a far-reaching and hard-hitting review of Australian cricket said Friday it will take 18 months to yield significant progress. But as a result of the report, which was seven months in the making, the chairman of selectors will become a full-
Published 20 Aug, 2011 12:00am
Syria disqualified by FIFA over ineligible player

Syria disqualified by FIFA over ineligible player

Syria's football federation announced on Friday that their national team have been banned from the 2014 World Cup qualifiers by FIFA for fielding an ineligible player. Syria reached the qualification group phase by beating Tajikistan over two legs - 2-1 i
Published 20 Aug, 2011 12:00am
Bangladesh finally beat Zimbabwe to break drought

Bangladesh finally beat Zimbabwe to break drought

Bangladesh made a long-awaited breakthrough in their ODI series against Zimbabwe by winning the fourth of five one-day internationals at Queens Sports Club on Friday. After bowling out the home side for 199, Bangladesh coasted home, scoring 203 for four a
Published 20 Aug, 2011 12:00am
Tevez dropped from Argentina squad

Tevez dropped from Argentina squad

Want-away Manchester City striker Carlos Tevez was on Friday dropped from the Argentina squad for friendly games against Venezuela and Nigeria by new coach Alejandro Sabella. Tevez is reportedly seeking to leave City and was one of three players cut from
Published 20 Aug, 2011 12:00am
Bell and Pietersen torment India

Bell and Pietersen torment India

Ian Bell's purple patch continued with an unbeaten century against India that left England well placed on 296 for two at tea on the second day of the fourth and final Test at The Oval here on Friday. Bell was 114 not out and Kevin Pietersen not far off hi
Published 20 Aug, 2011 12:00am
Shoaib Malik cleared to play again

Shoaib Malik cleared to play again

Pakistan Cricket Board (PCB) on Friday cleared former captain Shoaib Malik over allegations of illegal earnings. The integrity committee of PCB, which met here on Friday with its chairman Ijaz Butt in the chair, cleared former skipper Shoaib Malik paving
Published 20 Aug, 2011 12:00am
Russia plans orbiting hotel in space

Russia plans orbiting hotel in space

A hotel in orbit, lunar sightseeing flights and luxury rides into the cosmos - all are part of Russia's vision to ensure it is not left behind in the growing space tourism industry. Russian firms unveiled their plans at the country's premiere air show thi
Published 20 Aug, 2011 12:00am
US army to develop next-generation combat vehicle

US army to develop next-generation combat vehicle

The US Army said Thursday it had awarded nearly $900 million in contracts to British arms manufacturer BAE Systems and US firm General Dynamics to develop its next-generation ground combat vehicle. The Pentagon said it had given $450 million to BAE and $4
Published 20 Aug, 2011 12:00am
Three other Lebanese attacks linked to Hariri murder

Three other Lebanese attacks linked to Hariri murder

Three other attacks on Lebanese politicians are being linked to the 2005 murder of the country's former prime minister Rafiq Hariri, the UN-backed tribunal probing his death said Friday. "Judge (Daniel) Fransen ruled confidentially on 5 August that the pr
Published 20 Aug, 2011 12:00am
North Korea agrees to US talks on recovering GI remains

North Korea agrees to US talks on recovering GI remains

North Korea said on Friday it had agreed to talks with the United States on repatriating remains of American service members killed in the 1950-53 Korean War amid a diplomatic push to ease tensions on the peninsula. The agreement follows a series of top-l
Published 20 Aug, 2011 12:00am
India's highest court overturns film ban

India's highest court overturns film ban

India's highest court on Friday overturned a state government ban on the release of a new Bollywood film treating the controversial issue of caste quotas in government jobs. Two judges at the Supreme Court in New Delhi said the screening of "Aarakshan" (R
Published 20 Aug, 2011 12:00am
Prison population hits record after English riots

Prison population hits record after English riots

The prison population in England and Wales swelled to a record high this week, the Ministry of Justice said Friday, as more people convicted over the recent riots were sent to jail. The total number of prisoners hit 86,654, which was 723 more than the pre
Published 20 Aug, 2011 12:00am
Turkish Prime Minister to set up Somali embassy, pledges projects

Turkish Prime Minister to set up Somali embassy, pledges projects

Turkish Prime Minister Tayyip Erdogan, keen to strengthen Ankara's ties with the African continent, said on Friday he would set up an embassy in Somalia and promised major infrastructure projects in Mogadishu. The visit by Erdogan, the first leader from o
Published 20 Aug, 2011 12:00am
Detective arrested for leaks in British hacking scandal

Detective arrested for leaks in British hacking scandal

Britain's phone-hacking scandal took a new twist on Friday as police said they had arrested a detective suspected of leaking information about the investigation into the News of the World. Police separately said a 14th person, reportedly a former journali
Published 20 Aug, 2011 12:00am
Rebels march on; rescue of Tripoli foreigners planned

Rebels march on; rescue of Tripoli foreigners planned

Thousands of foreigners trapped in Tripoli by rebel advances that have cut off the Libyan capital will be evacuated in a massive international rescue, probably by sea, an international body said on Friday. After months of stalemate, rebels have transforme
Published 20 Aug, 2011 12:00am
Belarus suspends US nuclear deal over sanctions

Belarus suspends US nuclear deal over sanctions

Belarus said Friday that a new round of US sanctions has forced it to suspend plans to eliminate highly enriched uranium under an agreement reached with Secretary of State Hillary Clinton last year. The announcement represents a stark escalation in the tw
Published 20 Aug, 2011 12:00am
Turkey strikes Kurdish rebels in Iraq

Turkey strikes Kurdish rebels in Iraq

Turkish warplanes and artillery pounded Kurdish rebels in northern Iraq for a second night, hours after the rebels mounted attacks on security forces in south-eastern Turkey. The Turkish raids, the first against rebels holed up in the mountains of norther
Published 20 Aug, 2011 12:00am
China satellite aborts mission after 'malfunction'

China satellite aborts mission after 'malfunction'

An "experimental" satellite launched by China failed to reach its designated orbit after its rocket malfunctioned, state media reported Friday. Orbiter SJ-11-04, which was propelled by a Long March II-C rocket, was launched on Thursday but was unable to c
Published 20 Aug, 2011 12:00am
Duke and Duchess of Cambridge visit families of riot victims

Duke and Duchess of Cambridge visit families of riot victims

Britain's Prince William, and his wife, Catherine, Friday visited the relatives of three Asian men who lost their lives during violent rioting in the city of Birmingham last week, St James' Palace said. Haroon Jahan, 21, and brothers Shazad Ali, 30, and A
Published 20 Aug, 2011 12:00am
Freak storm kills five at Belgian rock fest

Freak storm kills five at Belgian rock fest

A violent storm killed five people at a Belgian rock festival and left three more fighting for life on Friday, as stunned organisers questioned what more they could have done to prevent the freak tragedy. Ten were seriously injured with three in critical
Published 20 Aug, 2011 12:00am
White House marks World Humanitarian Day

White House marks World Humanitarian Day

The White House on Friday honoured relief workers from Somalia to Sudan and Afghanistan to Yemen to mark the third United Nations-sponsored World Humanitarian Day. "The United States joins with the international community in honouring the courage and comm
Published 20 Aug, 2011 12:00am
Syrian forces kill 20 despite Assad pledge

Syrian forces kill 20 despite Assad pledge

Syrian forces shot dead 20 protesters on Friday despite a pledge by President Bashar al-Assad that a crackdown was over, activists said as thousands marched across Syria, spurred on by US and European calls for him to step down. Most of the violence was i
Published 20 Aug, 2011 12:00am
Quake jolts Japan off Fukushima, no damage reported

Quake jolts Japan off Fukushima, no damage reported

A strong earthquake with a preliminary magnitude of 6.8 jolted north-eastern Japan off Fukushima prefecture on Friday, the Japan Meteorological Agency said, although no damage was reported and a tsunami advisory for the area was lifted after no waves were
Published 20 Aug, 2011 12:00am
Suu Kyi meets president for first time

Suu Kyi meets president for first time

Myanmar opposition leader Aung San Suu Kyi met the country's new civilian president for the first time on Friday, in the latest sign the regime is reaching out to its opponents. The one-hour meeting with President Thein Sein in the capital Naypyidaw marke
Published 20 Aug, 2011 12:00am
Russians remember losses in failed 1991 coup

Russians remember losses in failed 1991 coup

Twenty years after a failed coup hastened the end of the Soviet Union, many Russians look back with regret and cynicism, underscoring the ambivalence many feel for the new Russia and their uncertainty about the future. "I remember the tanks rolling toward
Published 20 Aug, 2011 12:00am
New York cotton settles easier

New York cotton settles easier

Cotton futures finished easier on Friday on investor sales inspired by turmoil in outside markets, although worries over crop problems in several countries pared losses, analysts said. European stocks slid while US stocks see-sawed, with gold scaling reco
Published 20 Aug, 2011 12:00am
US copper lower

US copper lower

Copper shed more than 2 percent of its value on Thursday, as commodities crumbled under the weight of double-dip recession fears after another batch of US economic data undershot market expectations. In New York, the September COMEX contract settled with
Published 20 Aug, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

The most-active November copper contract on the Shanghai Futures Exchange fell 0.5 percent to 66,350 yuan per tonne on Friday, after falling 0.2 percent in the last session. "The LME copper market seems to be taking a pause to digest yesterday's global ro
Published 20 Aug, 2011 12:00am
Copper steadies

Copper steadies

Copper steadied on Friday, helped by a weak dollar and threats to metal supply, although concerns about a slowdown in the United States and a debt crisis in Europe weighed on sentiment and subdued gains. Benchmark copper closed at $8,825 a tonne from Thur
Published 20 Aug, 2011 12:00am
Brent up, crude dips

Brent up, crude dips

Brent rose in choppy trading on Friday, managing a small weekly gain as the dollar fell to a record low against the yen. US crude futures gave up gains in late trading to settle lower, posting its fourth weekly loss. Limiting the revival of the inverse-co
Published 20 Aug, 2011 12:00am
Tokyo and Shanghai rubber fall

Tokyo and Shanghai rubber fall

Key Tokyo rubber futures fell nearly 3 percent on Friday, pulled down by a broader sell-off in markets on renewed concerns over the global financial system and the US economy. The benchmark rubber contract on the Tokyo Commodity Exchange for January deliv
Published 20 Aug, 2011 12:00am
New York sugar and cocoa drop

New York sugar and cocoa drop

Raw sugar futures closed lower Thursday, giving back Wednesday's sharp gains in an inside day as the market fell along with many markets around the world as renewed economic worries sparked investors to sell broadly. US cocoa also finished lower while ara
Published 20 Aug, 2011 12:00am
Malaysian palm oil hits one-week low

Malaysian palm oil hits one-week low

Malaysian palm oil futures eased to a one-week low on Friday, as uncertainty clouding the global economic outlook offset expectations of improving demand for the vegetable oil. The benchmark November contract on the Bursa Malaysia Derivatives Exchange end
Published 20 Aug, 2011 12:00am
Liffe sugar soars

Liffe sugar soars

Raw sugar futures soared above the 30-cent mark on Friday, on a combination of chart-based buying, a small crop in top grower Brazil and the weak US dollar. Arabica coffee and US cocoa futures also climbed, but only modestly, while London's cocoa and robu
Published 20 Aug, 2011 12:00am
US gold surges two percent

US gold surges two percent

Gold rallied 2 percent to a new high above $1,820 an ounce on Thursday after US data pointed to a stalled economy, while renewed concern about the health of European banks brought additional safe-haven buying. Spot gold was up 2.1 percent at $1,825.60 an
Published 20 Aug, 2011 12:00am
Euro-priced gold strikes record high in Asia

Euro-priced gold strikes record high in Asia

Euro-priced gold struck an all-time high of 1,296.31 euros an ounce on Friday, as growing fears of a worsening US economic outlook and eurozone debt crisis drove investors to safe haven assets such a gold. Spot gold rose more than 1 percent to a record hi
Published 20 Aug, 2011 12:00am
Gold set for biggest weekly rise since 2008

Gold set for biggest weekly rise since 2008

Gold was set for its biggest one-week rise since late 2008 on Friday after a raft of soft economic data battered stock markets, though prices eased from record highs as equity markets and the euro edged off lows in afternoon trade. The metal rallied nearl
Published 20 Aug, 2011 12:00am
US MIDDAY: corn and soya up

US MIDDAY: corn and soya up

Corn, wheat and soyabean futures rose on Friday as the dollar retreated, oil firmed and equities pared losses, with the Dow Jones industrial average inching back above 11,000 points before retreating in choppy trade. "Today is a relief recovery. It's dimi
Published 20 Aug, 2011 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

Copper finished higher on Friday, with support from a weak dollar, steadier equities, Chilean supply threats and Asian demand signals enabling prices to overcome overnight selling pressures. It was a day of indecisiveness in the base metals complex. Zinc,
Published 20 Aug, 2011 12:00am
US MIDDAY: gold hits new record

US MIDDAY: gold hits new record

Gold rose 1.5 percent on Friday, setting a record high for a second straight day and heading for its biggest one-week gain in 2-1/2 years on worries about stalled US growth and Europe's debt crisis. After rallying around 3 percent to a record $1,877 an ou
Published 20 Aug, 2011 12:00am
Nadra sets up 158 centres for arms licence renewal

Nadra sets up 158 centres for arms licence renewal

The National Database and Registration Authority (Nadra) has initiated the Revalidation Process of Arms Licences issued by Ministry of Interior, and 158 Centres across the country will receive applications. Separate counters were set up in designated cent
Published 20 Aug, 2011 12:00am
Five killed over domestic feud

Five killed over domestic feud

Five persons including three women and a teenager were gunned down over family dispute here in Tandoro village of Tehsil Tal, police said on Friday. According to police, armed groups opened fire at the house of Ghafoor Khan over domestic issue killing Gha
Published 20 Aug, 2011 12:00am
FBISE announces HSSC-I result

FBISE announces HSSC-I result

Federal Board of Intermediate and Secondary Education (FBISE) on Friday announced the result of annual examination of Higher Secondary School Certificate (HSSC-I) with a passing percentage of 52.52. According to the notification issued by the FBISE, 20 un
Published 20 Aug, 2011 12:00am
Capital police recover nine persons from illegal confinement

Capital police recover nine persons from illegal confinement

Islamabad Police have recovered nine persons including four children and two women from a kiln where they were kept illegally in Tarlai area in outskirts of federal capital. Police arrested the supervisor of kiln and recovered illegal arms.
Published 20 Aug, 2011 12:00am
Foreign brands cigarettes: smuggling causing billions of rupees loss

Foreign brands cigarettes: smuggling causing billions of rupees loss

The on-going smuggling of foreign brands of cigarettes from Afghanistan and Iran is causing revenue loss in billions of rupees per annum. According to industry sources, the anti-smuggling department and customs officials are primarily responsible for clea
Published 20 Aug, 2011 12:00am
AJK president calls on CJCSC

AJK president calls on CJCSC

President of Azad Jammu and Kashmir (AJ&K) Raja Zulqarnain Khan called on General Kahlid Shamim Wynne Chairman Joint Chiefs of Staff Committee (CJCSC) at Joint Staff Headquarters, Chaklala on Firday. The President of AJ&K remained with General Wynne for s
Published 20 Aug, 2011 12:00am
FBR employees: de-freezing of special allowance discussed

FBR employees: de-freezing of special allowance discussed

A special delegation of various representative groups of FBR employees comprising Rehmat Ali Tarar, Chaudhry Asif Iqbal Cheema, Saleem Tariq Butt, Shafqat Hussain Cheema, Chaudhry Akram, Arif Aziz and Malik Naseer called on the members' administrative com
Published 20 Aug, 2011 12:00am
FBR representative groups agree to call off strike

FBR representative groups agree to call off strike

A meeting was convened at FBR HQ Islamabad between FBR senior management and the representative groups of agitating FBR employees comprising Mian Abdul Qayyum, Rashid Shah, Munir Faizi, Muhammad Mateen Ullah, Amir Haider, Pervez Ahmed, Babar Khan, Shahraz
Published 20 Aug, 2011 12:00am
Pak-Polish cooperation in oil and gas sector extended

Pak-Polish cooperation in oil and gas sector extended

Dr Asim Hussain, Federal Minister for Petroleum and Natural Resources has appreciated the co-operation extended by Polish Government in the Oil and Gas Sector. He was talking to the Polish Economy Minister and Secretary of State of Ministry of Foreign Aff
Published 20 Aug, 2011 12:00am
PIAC incurred 55.7 percent operating loss in 2009: AGP

PIAC incurred 55.7 percent operating loss in 2009: AGP

The Pakistan International Airlines Corporation (PIAC) is facing a loss in eight out of nine routes and around 55.7 percent (Rs 41.46 billion) loss in 2009, the Audit General of Pakistan said in its audit report-2010-11. According to the audit report, PIA
Published 20 Aug, 2011 12:00am
Shahbaz orders foolproof security on Yaum-e-Ali

Shahbaz orders foolproof security on Yaum-e-Ali

Punjab Chief Minister Muhammad Shahbaz Sharif has ordered foolproof security measures throughout the province on the occasion of Yaum-e-Ali(RA). He directed police and other law-enforcement agencies to remain alert and senior police officer should pay fie
Published 20 Aug, 2011 12:00am
Around 3,900 faithful from Multan to observe Aitkaf

Around 3,900 faithful from Multan to observe Aitkaf

Around 3,900 faithful from Multan city and adjacent areas will observe Aitkaf at Ahmed Shah Abdali mosque and 230 other mosques starting from 20th of Ramazan. Auqaf department has asked the mosque administrations to provide the bio data of the Mo'takifeen
Published 20 Aug, 2011 12:00am
Telenor Pakistan reaches out to flood-affected people in Sindh

Telenor Pakistan reaches out to flood-affected people in Sindh

Responding promptly to the devastation caused by the recent floods in Sindh, Telenor Pakistan has announced an amount of Rs 45 million as immediate reliefs for the flood-affected people of the province. Through its implementing partner Pakistan Red Cresce
Published 20 Aug, 2011 12:00am
Government urged to improve law, order situation in Karachi

Government urged to improve law, order situation in Karachi

The Lahore Chamber of Commerce & Industry has demanded of the government to take strict measures to control law and order situation in Karachi. President LCCI, Shahzad Ali Malik, Senior Vice President, Sheikh Mohammad Arshad and Vice President Sohail Azha
Published 20 Aug, 2011 12:00am
LCCI Achievement Awards to be held today

LCCI Achievement Awards to be held today

Lahore Chamber of Commerce and Industry (LCCI) Achievement Awards ceremony will be held on Saturday (today). Top government officials, politicians, diplomats, bureaucrats and businessmen are expected to attend the ceremony. The Achievement Award is annual
Published 20 Aug, 2011 12:00am
Government directed to hold local bodies elections

Government directed to hold local bodies elections

A bar member has approached the Lahore High Court praying to direct the respondent government to hold local bodies elections. Petitioner Rana Illam Din Ghazi also prayed the court to direct the election commissioner to make all necessary steps for holding
Published 20 Aug, 2011 12:00am
US provided Flash Flood Guidance System to Pakistan

US provided Flash Flood Guidance System to Pakistan

The United States has provided a Flash Flood Guidance System to Pakistan. The Flash Flood Guidance System for Pakistan has been developed by Hydrologic Research Center (HRC), USA through the collaboration among the World Meteorological Organisation (WMO),
Published 20 Aug, 2011 12:00am
UAF, PMC ink MoU on collaboration in different areas

UAF, PMC ink MoU on collaboration in different areas

The University of Agriculture, Faisalabad (UAF) and Punjab Medical College (PMC), Faisalabad inked a Memorandum of Understanding for their collaboration in the areas of research, academia, trainings, information dissemination, exchange of staff and studen
Published 20 Aug, 2011 12:00am
LHC allows girl to go with her mother

LHC allows girl to go with her mother

The Lahore High Court (LHC) allowed a girl Yasmeen to go with her mother, as she refused to live with his beloved. According to the details one Imran of Islampura had got married with Yasmeen against the wishes of her parents. Her father got registered a
Published 20 Aug, 2011 12:00am
Gohar Ejaz group clean sweeps APTMA elections

Gohar Ejaz group clean sweeps APTMA elections

Gohar Ejaz group has made a clean sweep for second consecutive year in All Pakistan Textile Mills Association (APTMA) annual elections for 2011-12. The sitting Gohar Ejaz group is likely to secure all 12 seats of Central Management Committee (CMC), as no
Published 20 Aug, 2011 12:00am
PTCL workers continue protest

PTCL workers continue protest

United Workers Alliance PTCL continued its protest camp for reinstatement of 83 union activists on The Mall in front of PTCL headquarters here on Friday. The camp was visited by several trade unions and representatives of political parties who assured the
Published 20 Aug, 2011 12:00am
Election petition against PML-N MNA adjourned

Election petition against PML-N MNA adjourned

The Lahore High Court acting as election tribunal adjourned till August 24 the proceedings in an election petition filed against PML-N MNA Javed Latif as petitioner's counsel did not appear before the court. The petitioner a rival candidate Malik Mushtaq
Published 20 Aug, 2011 12:00am
Haraj's resignation: PML-Q spokesman denies reports

Haraj's resignation: PML-Q spokesman denies reports

A spokesman of the Pakistan Muslim League-Q (PML-Q) has strongly rebutted a news item appearing in a section of the press regarding resignation of Raza Hayat Haraj, Minister of State for Housing & Works. The PML spokesman, refuting the said news item, sta
Published 20 Aug, 2011 12:00am
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