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Print - 2011-09-11
US readies papers versus Swiss banks

US readies papers versus Swiss banks

The United States is drafting legal documents that seek to force nearly a dozen Swiss banks and international banks with Swiss branches to disclose the identities of American clients evading billions of dollars in taxes, sources briefed on the matter said
Published 11 Sep, 2011 12:00am
Swiss banks 'allegedly' providing information to US

Swiss banks 'allegedly' providing information to US

Swiss banks have "allegedly" begun providing information to Washington on accounts held by US citizens, Swiss media reported Saturday. Local daily Neue Zuercher Zeitung reported that US authorities had "allegedly" received information from Swiss banks on
Published 11 Sep, 2011 12:00am
Berkshire unit Richline to buy Italian brand Carniani

Berkshire unit Richline to buy Italian brand Carniani

Jewellery company Richline International, part of US billionaire investor Warren Buffett's Berkshire Hathaway, has agreed to buy Italian precious metal brand Carniani, the company said. Italy-based Richline International, fully owned by Berkshire's unit R
Published 11 Sep, 2011 12:00am
HSBC's Hong Kong chief quits post

HSBC's Hong Kong chief quits post

The head of HSBC's Hong Kong unit is leaving his post after more than two decades at the British lender. The departure of Mark McCombe, who will become chairman of investment firm BlackRock's Asia-Pacific business, comes as HSBC pushes ahead with plans to
Published 11 Sep, 2011 12:00am
Greek police clash with anti-austerity protesters

Greek police clash with anti-austerity protesters

Clashes broke out between police and demonstrators Saturday as thousands took to the streets of Greece's second city of Thessaloniki in a mass protest against austerity measures. Anti-riot officers used tear gas to contain the crowds as Prime Minister Geo
Published 11 Sep, 2011 12:00am
China's trade surplus dips, exports off peak

China's trade surplus dips, exports off peak

China's trade surplus fell sharply in August as exports pulled back from a record high and imports jumped, indicating the world's second-largest economy is feeling the pinch from weaker global growth while domestic demand remains resilient.
Published 11 Sep, 2011 12:00am
AT&T fights back at US challenge of T-Mobile deal

AT&T fights back at US challenge of T-Mobile deal

AT&T Inc and T-Mobile USA fought back against the Justice Department's challenge to their proposed merger, arguing the deal would "usher in more intense competition." AT&T and T-Mobile, owned by Deutsche Telekom AG, argued in a federal court filing on Fri
Published 11 Sep, 2011 12:00am
Guinea adopts new mining code boosting state share

Guinea adopts new mining code boosting state share

Guinea's parliament adopted a new mining code that more than doubles the share the West African state can take in mining projects to 35 percent and toughens procedures for acquiring development permits, the government said on Saturday.
Published 11 Sep, 2011 12:00am
Honda recalls 347,000 Pilot SUVs globally

Honda recalls 347,000 Pilot SUVs globally

Honda Motor Co Ltd is recalling almost 347,000 Pilot sport utility vehicles world-wide for a potential problem with the front seat belts. The Japanese automaker said the recall, which affects vehicles built in Lincoln, Alabama for model years 2009 through
Published 11 Sep, 2011 12:00am
Russia calls on EU to save troubled members

Russia calls on EU to save troubled members

Russia's Finance Minister Alexei Kudrin called on the European Union on Saturday to make a clear commitment to a common economic policy that would aid debt-ridden countries and keep the eurozone crisis from spreading.
Published 11 Sep, 2011 12:00am
Oil cake market rates

Oil cake market rates

Both the futures were higher on the forward cottonseed oilcake market on Friday in process of trading, dealers said. The December contract that had ended at Rs 1314.50 commenced with a gain of 30 paisa to Rs 1314.80. The January vaida which was at Rs 1197
Published 11 Sep, 2011 12:00am
Italy jewellery exports seen down

Italy jewellery exports seen down

Jewellery exports from Italy, Europe's top producer and exporter, are expected to fall about 10 percent in volume in 2011 as surging gold prices and global economic uncertainty hit consumer demand, senior industry officials said. Gold prices have stormed
Published 11 Sep, 2011 12:00am
US wheat extends fall; soya, corn higher

US wheat extends fall; soya, corn higher

US wheat prices fell for a fourth day on Friday, dropping more than 1 percent as the dollar soared, making US wheat less competitive on the global market. Corn and soyabean futures were higher ahead of a key government crop report on Monday that was expec
Published 11 Sep, 2011 12:00am
Guwar, barley prices up on grain market

Guwar, barley prices up on grain market

Guwar and barley prices were higher on the wholesale grain market on Saturday in process of moderate trading, dealers said. On the grams side, guwar Sindh and Punjab, as a result of tight supply gained Rs 100 to Rs 6700-6800, other items retained overnigh
Published 11 Sep, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 93,236 tonnes of cargo including 78,650 tonnes of import cargo, 14,586 tonnes of export cargo and 4,931 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 78,650 tonnes compri
Published 11 Sep, 2011 12:00am
Europe's cash cocoa price differentials inch up

Europe's cash cocoa price differentials inch up

Price differentials in Europe's cash cocoa market inched up this week as activity picked up ahead of the start of West Africa's main crop season in October, traders said on Friday. Ivory Coast differentials were about 65 pounds ($103.7) over London nearby
Published 11 Sep, 2011 12:00am
Dryness starting to hurt Argentine wheat: government

Dryness starting to hurt Argentine wheat: government

Rains are needed in much of Argentina's wheat belt to safeguard 2011/12 crops, especially in parts of the top growing province Buenos Aires, the Agriculture Ministry said on Friday. The South American nation, a leading global wheat exporter, has yet to fo
Published 11 Sep, 2011 12:00am
Sri Lankan stocks down, rupee up

Sri Lankan stocks down, rupee up

Sri Lanka's rupee closed firmer on Friday despite heavy importer dollar demand as the central bank narrowed the dollar trading band, running counter to an IMF request to limit intervention in the forex market. The rupee closed firmer at 110.09/110.10 a do
Published 11 Sep, 2011 12:00am
Treasuries rally

Treasuries rally

US Treasury debt prices rallied on Friday as investors stocked up on the ultra-safe securities in preparation for a weekend of potential financial instability in Europe. The worries over Europe were sparked by the resignation of European Central Bank Exec
Published 11 Sep, 2011 12:00am
Treasuries rally

Treasuries rally

US Treasury debt prices rallied on Friday as investors stocked up on the ultra-safe securities in preparation for a weekend of potential financial instability in Europe. The worries over Europe were sparked by the resignation of European Central Bank Exec
Published 11 Sep, 2011 12:00am
Frac Tech files for expanded $1.15 billion IPO

Frac Tech files for expanded $1.15 billion IPO

Frac Tech International wants to raise up to $1.15 billion in an initial offering of stock that will give investors a chance to back the booming development of oil and gas resources through hydraulic fracturing. Frac Tech, which helps exploration and prod
Published 11 Sep, 2011 12:00am
Indian bond yields inch up

Indian bond yields inch up

Indian federal bond yields inched up on Friday, tracking the rise in their US counterparts, with the market divided over the Reserve Bank of India's possible rate action next week. US Treasuries slipped in Europe as markets readied for new issuance next w
Published 11 Sep, 2011 12:00am
Indian bond yields inch up

Indian bond yields inch up

Indian federal bond yields inched up on Friday, tracking the rise in their US counterparts, with the market divided over the Reserve Bank of India's possible rate action next week. US Treasuries slipped in Europe as markets readied for new issuance next w
Published 11 Sep, 2011 12:00am
Latam stock sink

Latam stock sink

Latin American shares sank on Friday as global equity markets tanked on fears a Greek default could hobble major European banks and deepen a global economic slowdown. The MSCI Latin American stock index fell 3.56 percent in its largest one-day percentage
Published 11 Sep, 2011 12:00am
Turkish markets weaken

Turkish markets weaken

The Turkish lira weakened against the dollar, following the depreciation of the euro after news about Executive Board Member Juergen Stark's retirement from the ECB while bond yields rose as higher-than-expected industrial output stoked investor worries o
Published 11 Sep, 2011 12:00am
Evernote considers IPO as growth picks up

Evernote considers IPO as growth picks up

Evernote, which makes a popular app for taking notes and storing data on tablets, phones and personal computers, is considering filing for an initial public offering by the end of next year, its chief executive told Reuters on Friday. Evernote has more th
Published 11 Sep, 2011 12:00am
Restoration Hardware files for $150 million IPO

Restoration Hardware files for $150 million IPO

US furniture retailer, Restoration Hardware Holdings Inc, filed with US regulators on Friday to raise up to $150 million in an initial public offering of its common stock. A source close to the company had told Reuters a year ago that the company would ra
Published 11 Sep, 2011 12:00am
JGBs trim gains

JGBs trim gains

Japanese government bond futures inched up on Friday, taking their cue from a rise in US bonds, but gave up some gains with participants wary of chasing prices higher in case profit-taking emerges ahead of half-year book closings. The market took in strid
Published 11 Sep, 2011 12:00am
JGBs trim gains

JGBs trim gains

Japanese government bond futures inched up on Friday, taking their cue from a rise in US bonds, but gave up some gains with participants wary of chasing prices higher in case profit-taking emerges ahead of half-year book closings. The market took in strid
Published 11 Sep, 2011 12:00am
TSX dives more than two percent

TSX dives more than two percent

Toronto's main stock market index tumbled along with world stocks on Friday, falling more than 2 percent as worries about Europe's festering debt problems intensified. European Central Bank board member Juergen Stark resigned in protest against the bank's
Published 11 Sep, 2011 12:00am
Wall Street tumbles

Wall Street tumbles

US stocks tumbled more than 2 percent on Friday after the top German official at the European Central Bank resigned in protest of the bank's bond-buying program, which has been a major tool in fighting the region's debt crisis.
Published 11 Sep, 2011 12:00am
Canadian dollar falls to near parity

Canadian dollar falls to near parity

The Canadian dollar fell to near parity with the US dollar on Friday, touching a one-month low, as global doubts about Europe's ability to resolve its debt crisis punished stock markets and sent investors to safer havens. The Canadian dollar ended the Nor
Published 11 Sep, 2011 12:00am
Speculators sharply pare bets against dollar

Speculators sharply pare bets against dollar

Currency speculators sharply decreased bets against the US dollar in the latest week, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net short position fell to $3.94 billion in the week ended
Published 11 Sep, 2011 12:00am
African currencies outlook

African currencies outlook

Kenya's shilling is likely to firm next week after a robust response from government to try to stem its downward spiral, while its Ugandan counterpart may also be bottoming out of a long slump as soaring bond yields attract foreign buyers.
Published 11 Sep, 2011 12:00am
Euro risks fall to $1.30 as Europe struggles on debt

Euro risks fall to $1.30 as Europe struggles on debt

A darkening euro zone economic outlook, a shrinking interest rate advantage and scepticism over European authorities' ability to resolve the sovereign debt crisis have raised the risk the euro will fall towards $1.30 before year-end. The single currency h
Published 11 Sep, 2011 12:00am
Euribor rates sink after ECB flips policy view

Euribor rates sink after ECB flips policy view

Key euro-priced bank-to-bank lending rates fell on Friday, a day after the European Central Bank unceremoniously ended its rate hike cycle and left financial markets wondering whether its next move would be a rate cut. The three-month Euribor rate - tradi
Published 11 Sep, 2011 12:00am
Euro drops broadly, may stay pressured next week

Euro drops broadly, may stay pressured next week

The euro looked vulnerable in the upcoming week after falling to its lowest against the dollar in more than six months on Friday in the wake of an ECB board member's resignation and the bank's monetary policy shift to a neutral bias. Money markets have co
Published 11 Sep, 2011 12:00am
Hundreds tourists stranded in Bulgaria over trade row

Hundreds tourists stranded in Bulgaria over trade row

Hundreds of foreign tourists are stranded at the Bulgarian Black Sea airport of Burgas after their charter flights were cancelled over a payment row between their tour operator and the flight carrier, officials said on Saturday.
Published 11 Sep, 2011 12:00am
Former Guantanamo detainee arrested in Afghanistan

Former Guantanamo detainee arrested in Afghanistan

Nato and Afghan forces have arrested a former inmate at the US military prison at Guantanamo Bay, a tribal elder said Saturday. Said Amir Jan was arrested during the same raid in which another former Guantanamo detainee was killed a week ago in the easter
Published 11 Sep, 2011 12:00am
India must boost counter-terror steps, says Manmohan

India must boost counter-terror steps, says Manmohan

Indian Prime Minister Manmohan Singh said Saturday that this week's attack in Delhi served to remind everyone that the country urgently needed to boost its intelligence gathering abilities.
Published 11 Sep, 2011 12:00am
Japan's new PM suffers early blow as minister quits

Japan's new PM suffers early blow as minister quits

Japanese Prime Minister Yoshihiko Noda's new government suffered a blow on Saturday after just eight days in office when the trade minister resigned over gaffes on the sensitive topic of radiation from the tsunami-hit Fukushima plant.
Published 11 Sep, 2011 12:00am
11 dead in China ferry sinking

11 dead in China ferry sinking

At least 11 people, including nine schoolchildren, died when an apparently overloaded ferry capsized in a river in southern China, reports said Saturday. Local authorities said 45 people, including two crew, were aboard the boat.
Published 11 Sep, 2011 12:00am
Six abducted Afghan contractors found dead

Six abducted Afghan contractors found dead

Six of nine Afghans employed by a local US-contracted building company and kidnapped earlier this week were found shot dead Saturday, a local official said. The six were among a group taken hostage on Tuesday in Logar province in the south of the war-torn
Published 11 Sep, 2011 12:00am
Israeli envoy leaves Cairo after embassy attack

Israeli envoy leaves Cairo after embassy attack

Israel flew its ambassador home from Cairo on Saturday after protesters stormed its embassy building, plunging Egypt's military rulers into their worst diplomatic crisis since they took over from Hosni Mubarak. Three people were killed and 1,049 wounded i
Published 11 Sep, 2011 12:00am
Malema declares 'economic war' on whites

Malema declares 'economic war' on whites

The firebrand leader of the youth wing of South Africa's ruling ANC declared "economic war" on whites on Saturday, making clear he had no intention of backing down from inflammatory rhetoric on the eve of a party disciplinary hearing.
Published 11 Sep, 2011 12:00am
Russian film 'Faust' takes top prize in Venice

Russian film 'Faust' takes top prize in Venice

Russian director Alexander Sokurov's "Faust", loosely based on Goethe's classic German text, won the Golden Lion for best picture at the Venice film festival on Saturday. The best director Silver Lion went to Chinese film maker Shangjun Cai for "People Mo
Published 11 Sep, 2011 12:00am
US rocket lifts off with satellites to probe moon

US rocket lifts off with satellites to probe moon

An unmanned US rocket blasted off on Saturday from Cape Canaveral Air Force Station in Florida to deliver twin robotic probes to the moon in the hope of learning what is inside. The 124-foot (37.8-meter) booster soared off its seaside launch pad at 9:08 a
Published 11 Sep, 2011 12:00am
Sudan suspends six sports newspapers

Sudan suspends six sports newspapers

Sudan will suspend six sports newspapers and issue warnings to three others, the national press council said on Saturday, for violations including encouraging violence between rival soccer teams, in the latest crackdown on the media.
Published 11 Sep, 2011 12:00am
Libyan fighters assault Bani Walid

Libyan fighters assault Bani Walid

Libyan fighters trying to capture one of Muammar Qadhafi's last strongholds battled for the desert town of Bani Walid on Saturday against stiff resistance from Qadhafi loyalists. Forces of the ruling Transitional National Council (NTC) said they had advan
Published 11 Sep, 2011 12:00am
Mauritius youth protest against corruption

Mauritius youth protest against corruption

Several thousand demonstrators took to the streets in the capital of Mauritius on Saturday in a rare protest against corruption and living standards on the Indian Ocean island. About 3,000 people, many of them young, marched peacefully through the capital
Published 11 Sep, 2011 12:00am
Britain, US lost some 'moral authority' after 9/11: Cameron

Britain, US lost some 'moral authority' after 9/11: Cameron

Britain and the United States lost some of their moral authority through some of the measures they put in place after the September 11th attacks, Prime Minister David Cameron said Friday. Some measures, such as the establishment of the Guantanamo Bay dete
Published 11 Sep, 2011 12:00am
China chasing more tyre grade from Thailand

China chasing more tyre grade from Thailand

Main rubber consumer China was chasing more tyre grade from Thailand after improving supply prompted sellers to cut prices, but Indonesia was a bit cautious during the dry wintering season, dealers said Wednesday. Wintering has started in the southern par
Published 11 Sep, 2011 12:00am
US gold dragged down by dollar spike, profit-taking

US gold dragged down by dollar spike, profit-taking

Gold slid on Friday, closing its worst week since June, as profit-taking by investors and a spike in the US dollar outweighed the desire for a safer haven. Gold tumbled in early US hours on apparent investor liquidation, but clawed back much of its loss b
Published 11 Sep, 2011 12:00am
Vietnam eyes record rice export

Vietnam eyes record rice export

Vietnam, the world's second-largest rice exporter after Thailand, plans to export 7 million tonnes of the grain this year, breaking its shipment record set in 2010, a state-run newspaper said on Wednesday.
Published 11 Sep, 2011 12:00am
India fluffs cotton policy, gives buyers an edge

India fluffs cotton policy, gives buyers an edge

India's fickle policy on cotton exports has hurt its role as a steady supplier of the fibre, and saddled its exporters with huge stocks they will have to sell on punitive delivery conditions at lower prices through next year.
Published 11 Sep, 2011 12:00am
Australia's infrastructure snags wheat exports

Australia's infrastructure snags wheat exports

Australia's wheat export industry is still struggling from having too few grain handlers, reducing options for smaller buyers to transport wheat, said Alan Winney, chairman of one of Australia's top grain traders, Emerald Group.
Published 11 Sep, 2011 12:00am
China 2011-12 cotton output seen at 7.4 million tonnes

China 2011-12 cotton output seen at 7.4 million tonnes

Chinese analysts expect the country's cotton output in 2011/12 crop year to be 7.4 million tonnes, 17.8 percent higher than their estimate for 2010/11, according to a survey of six analysts contacted by Reuters on Friday.
Published 11 Sep, 2011 12:00am
India, China to drive global gold jewellery demand higher

India, China to drive global gold jewellery demand higher

Gold demand, which dropped in the second quarter of this year, is expected to strengthen by the end of 2011, driven by robust jewellery buying in India and China and recovery in investment demand, senior World Gold Council (WGC) officials said.
Published 11 Sep, 2011 12:00am
Gold hits record high as recession fears bite

Gold hits record high as recession fears bite

Gold prices hit fresh record highs last week during a roller-coaster week for commodities, as investors tracked growing expectations that the global economy was heading towards fresh recession. Prices took a knock on Friday along with stock markets, in pa
Published 11 Sep, 2011 12:00am
Punjab chief minister reviews dengue help-line performance

Punjab chief minister reviews dengue help-line performance

Punjab Chief Minister, Muhammad Shahbaz Sharif here Saturday called on the free help-line 0800-99000 launched for taking guidance from medical experts with regard to dengue fever. The chief minister called, without disclosing his identity, for checking th
Published 11 Sep, 2011 12:00am
Nisar strongly reacts to MQM chief's press conference

Nisar strongly reacts to MQM chief's press conference

Leader of the Opposition in the National Assembly, Nisar Ali Khan, on Saturday strongly reacted to the press conference of MQM chief Altaf Hussain, terming it as "wastage of time, worst example of political jugglery, and complete joke with the people of P
Published 11 Sep, 2011 12:00am
AIOU extends admission date up to September 24

AIOU extends admission date up to September 24

Allama Iqbal Open University (AIOU) has extended its admissions date up to September 24 for all programmes from Matric to MA/M.Sc, MBA (3.5 years duration), M.Com and Associate Degree in Commerce for the Semester Autumn 2011. This was decided in a meeting
Published 11 Sep, 2011 12:00am
Power consumers urged to adopt precautionary measures

Power consumers urged to adopt precautionary measures

Peshawar Electric Supply Company (Pesco) has urged the request its honourable customers to adopt all precautionary measures during monsoon rains to avoid electrocution and electric shocks for their own safety so that precious human lives and property coul
Published 11 Sep, 2011 12:00am
Pak-US exchange programmes helping boost ties: CG

Pak-US exchange programmes helping boost ties: CG

US Consul General, Carmela Conroy has said that Pakistan has more exchange programmes with the US than any other country in the world. She was addressing the Eid Milan reception arranged in the honour of State Alumni, organised by the US Consulate General
Published 11 Sep, 2011 12:00am
World First Aid Day observed

World First Aid Day observed

World First Aid Day was observed here on Saturday, like other parts of the world including Pakistan, to promote the importance of first aid training in preventing injuries and saving lives. World First Aid Day was celebrated by ordinary people and volunte
Published 11 Sep, 2011 12:00am
Punjab government importing fresh medicine for anti-mosquito spray

Punjab government importing fresh medicine for anti-mosquito spray

The Punjab government is importing fresh medicine for anti-mosquito spray, which is expected to reach Pakistan by Monday while Chief Minister Punjab has formed a high level investigation committee headed by Additional Inspector General of Police for condu
Published 11 Sep, 2011 12:00am
2,413 dengue cases confirmed

2,413 dengue cases confirmed

National Health Department reported on Saturday that 2,413 dengue cases had been confirmed across the country, fearing the toll could rise in days to come. The report says a total of 2,708 dengue patients have been admitted so far and dengue virus has bee
Published 11 Sep, 2011 12:00am
Two die from dengue fever in Khyber Pakhtunkhwa

Two die from dengue fever in Khyber Pakhtunkhwa

Two persons have died of dengue fever in Khyber Pakhtunkhwa while health authorities have confirmed at least 15 more cases of fever. An official of the Health and Emergency Preparedness Response Cell (HEPR) while talking to APP here on Saturday, said that
Published 11 Sep, 2011 12:00am
Good news indeed!

Good news indeed!

It is heartening to read in the media that Punjab's secretary literacy and non-formal basic education Dr Allah Bakhsh Malik has been given UN's most prestigious 'Confucius Award' by Indian president at an international conference on the topic of 'Women's
Published 11 Sep, 2011 12:00am
Former militant turns comic book hero in Indonesia

Former militant turns comic book hero in Indonesia

A repentant Islamic militant who fought in Afghanistan and later joined a South-East Asian group blamed for a string of deadly attacks has become a comic book hero in Indonesia. The 137-page book chronicles the life of Malaysian-born Nasir Abas from the t
Published 11 Sep, 2011 12:00am
Date palm decline: Iraq looks to rebuild

Date palm decline: Iraq looks to rebuild

Iraqi officials are pushing re-planting programmes for the country's date palms, which are famed across the Middle East as the region's best but have suffered terrible losses in past decades. The trees were celebrated during Babylonian times for their str
Published 11 Sep, 2011 12:00am
Energy sector: Bringing reforms and competition

Energy sector: Bringing reforms and competition

In the last article of this series, we demonstrated through the case study of a wind power project the inadequacies in the current regulatory practices. Some problems are operational, while the others are of more structural nature implicit in the cost-plu
Published 11 Sep, 2011 12:00am
Worse than Waziristan

Worse than Waziristan

Director General Pakistan Rangers Sindh, Major General Muhammad Ejaz Chaudhry's submissions before a special bench of the Supreme Court on Wednesday regarding the grim Karachi situation may be shocking, yet they are not far from the truth. Speaking from e
Published 11 Sep, 2011 12:00am
9/11: A day for introspection

9/11: A day for introspection

In the recorded history no non-state actor changed the world so dramatically as did Osama bin Laden, and even when he is gone his legacy refuses to die, spawning multifarious implications for the world peace and progress. True to President George W. Bush'
Published 11 Sep, 2011 12:00am
Intermediate results on September 12

Intermediate results on September 12

Board of Intermediate Education Karachi (BIEK) would announce the results of intermediate pre-engineering group (part II) and science and general group on 12th September 2011, Monday at 3:00 pm at BIEK auditorium. The position holder students would be con
Published 11 Sep, 2011 12:00am
'Hero Bannay Ki Tarang-II' to be air on September 22

'Hero Bannay Ki Tarang-II' to be air on September 22

After the successful airing of 'Hero Bannay Bannay Ki Tarang' (HBKT). Engro Foods Limited is airing the second season of HBKT with a big bang on September 22, Engro Foods Ltd's tea whitening brand Tarang, in an endeavour to revive the local film industry
Published 11 Sep, 2011 12:00am
Ban on pillion riding lifted

Ban on pillion riding lifted

Sindh Home Minister Manzoor Hussain on Saturday announced lifting of ban on pillion riding on motorcycles in Karachi with immediate effect. "The ban has lifted to facilitate the public after improvement in law and order situation in the metropolis," his s
Published 11 Sep, 2011 12:00am
PML-N criticises Altaf for distorting Kargil episode

PML-N criticises Altaf for distorting Kargil episode

Pakistan Muslim League-Nawaz (PML-N) on Saturday strongly reacted to the allegations levelled against its leadership by MQM chief Altaf Hussain and expressed deep anguish over deliberate distortion of the Kargil episode.
Published 11 Sep, 2011 12:00am
NRL's entity ratings maintained at AAA, Al+

NRL's entity ratings maintained at AAA, Al+

Pakistan Credit Rating Agency (Pacra) has maintained the long-term and the short-term entity ratings of National Refinery Limited (NRL) at 'AAA' (Triple A) and 'Al+' (A One Plus), respectively. These ratings denote the lowest expectation of credit risk em
Published 11 Sep, 2011 12:00am
NRL's entity ratings maintained at AAA, Al+

NRL's entity ratings maintained at AAA, Al+

Pakistan Credit Rating Agency (Pacra) has maintained the long-term and the short-term entity ratings of National Refinery Limited (NRL) at 'AAA' (Triple A) and 'Al+' (A One Plus), respectively. These ratings denote the lowest expectation of credit risk em
Published 11 Sep, 2011 12:00am
Heavy rains: city plunges into darkness as power feeders trip

Heavy rains: city plunges into darkness as power feeders trip

Around 300 feeders tripped in different parts of the city on Saturday shortly after the city witnessed heavy rainfall that plagued various localities into darkness, compelling the citizens to pass their nights without electricity.
Published 11 Sep, 2011 12:00am
Ufone brings Blackberry Bold 9900

Ufone brings Blackberry Bold 9900

For the first time in Pakistan, Ufone introduces the new BlackBerry Bold 9900. This unique handset has the ability to replace cutting edge technology with its uniqueness as it features a powerful 1.2 GHz processor, which is the fastest ever in a BlackBerr
Published 11 Sep, 2011 12:00am
Mobile SIMs verification system lauded

Mobile SIMs verification system lauded

Mobile SIM Information and Verification System (668) developed, deployed and hosted by Pakistan Telecommunication Authority (PTA) has received regional applaud. The application was listed among the finalist during recently held millionth South Asian Award
Published 11 Sep, 2011 12:00am
IGP directs joint patrolling by police, Rangers

IGP directs joint patrolling by police, Rangers

The IGP Sindh, Wajid Ali Durrani, has issued directive to the Additional IG Karachi to make a strategy with Rangers for joint patrolling in areas most hit by street crimes. According to a spokesman of the IGP's office on Saturday, the IGP has further aske
Published 11 Sep, 2011 12:00am
Government fails to treat dengue, malaria patients

Government fails to treat dengue, malaria patients

Thousands of rain-affected people are facing threats of dengue and malaria diseases as the health department has failed to provide them complete treatment in this regard. Continuous rains of monsoon have affected about 0.5 million people in almost all dis
Published 11 Sep, 2011 12:00am
MNA reviews ongoing construction of nullah

MNA reviews ongoing construction of nullah

Member National Assembly, Dr Abdul Qadir Khanzada along with Administrator Orangi Town, Qamar Sheikh on Saturday reviewed ongoing construction of a nullah, which is being built with his development fund at Kasba area in Orangi town. Later, the MNA alongwi
Published 11 Sep, 2011 12:00am
Four women teachers burnt in Quetta

Four women teachers burnt in Quetta

At least four women school teachers received burn injuries on their faces after they were attacked by the unidentified men here in the Kili Aalam Khan on Saturday. Police informed that school teachers were on their way back to home on Suzuki van when the
Published 11 Sep, 2011 12:00am
NBP continues flood relief operation

NBP continues flood relief operation

National Bank of Pakistan in collaboration with People's Doctor's Forum has organised flood relief and medical camp in DC School, Nawabshah. Last week NBP distributed flour bags and other food essentials among the flood affectees of this area.
Published 11 Sep, 2011 12:00am
JCR-VIS upgrades entity ratings of Burj Bank

JCR-VIS upgrades entity ratings of Burj Bank

JCR-VIS Credit Rating Company Limited, (JCR-VIS) has upgraded the entity ratings of Burj Bank Limited (formerly Dawood Islamic Bank Limited) from 'A-/A-2' (Single A Minus/A-Two Minus) with a 'stable' outlook. In line with sponsors' commitment to inject fr
Published 11 Sep, 2011 12:00am
JCR-VIS upgrades entity ratings of Burj Bank

JCR-VIS upgrades entity ratings of Burj Bank

JCR-VIS Credit Rating Company Limited, (JCR-VIS) has upgraded the entity ratings of Burj Bank Limited (formerly Dawood Islamic Bank Limited) from 'A-/A-2' (Single A Minus/A-Two Minus) with a 'stable' outlook. In line with sponsors' commitment to inject fr
Published 11 Sep, 2011 12:00am
MQM's former councillor among five dead

MQM's former councillor among five dead

At least five persons including ex-councillor of MQM were killed in separate incidents at various parts of the metropolis here on Saturday. According to the police, the victim Nawab, 55, son of Saeeduddin was assaulted by unidentified armed men at main bu
Published 11 Sep, 2011 12:00am
Thatta badly affected area

Thatta badly affected area

As rain devastation continues in lower Sindh District Thatta is one of the most affected areas where as many as 1,086,638 persons of 494 villages have been affected during the current spell of heavy rain across the district, says a statement issued by the
Published 11 Sep, 2011 12:00am
Rs 5.33 million looted

Rs 5.33 million looted

A gang of armed robbers on Saturday looted Rs 5.33 million from a house located within the limits of Mobina town police station. According to the police, some six armed men barged in a house and held the residents hostages at gunpoint. The robbers looted
Published 11 Sep, 2011 12:00am
Five target killers arrested

Five target killers arrested

Crime Investigation Department (CID) and Anti-Extremist Cell (AEC) on Saturday claimed to have nabbed some 11 persons including five target killers in separate raids at various parts of metropolis.
Published 11 Sep, 2011 12:00am
CJP urged to launch probe into May 12 mayhem

CJP urged to launch probe into May 12 mayhem

Awami National Party (ANP) on Saturday demanded of the Chief Justice of Pakistan to investigate the May 12 incident, besides constituting a judicial committee to probe into the 'political parties running on foreign aid'. Secretary Information Senator, Zah
Published 11 Sep, 2011 12:00am
PTCL, Muller & Phipps sign distribution accord

PTCL, Muller & Phipps sign distribution accord

Pakistan Telecommunication Company Limited (PTCL) has signed a nation-wide distribution agreement for EVO and related products with Muller & Phipps, the largest and oldest distribution company established in 1912. With this agreement PTCL intends to reach
Published 11 Sep, 2011 12:00am
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