The euro eased against the yen on Tuesday in choppy trading, pressured by a disappointing Italian debt auction that saw borrowing costs soar and conflicting reports about fresh eurozone support for debt-laden Greece. The dollar and yen, meanwhile, were we
The euro fell in choppy trade Tuesday as a report that eurozone politicians may provide some fresh support to debt laden Greece were denied, and it was set to stay pressured as the cost of Italy's borrowing reached unsustainable levels. The euro gave up b
The euro held firm on Tuesday after a choppy session overnight saw a wave of short-covering lift it by more than two cents on hopes that China will bolster Italy by buying its bonds, but traders found few reasons to stay upbeat about the currency. Mountin
Greece's exit from the eurozone would inflict untold damage on Europe's economy, further burnish the attractiveness of a rising Asia and hasten the emergence of China's yuan as a global currency. Until recently, even thinking about the consequences of a b
The Australian and New Zealand dollars shuffled sideways on Tuesday after a short-covering bounce overnight recouped some of their recent hefty losses, although sentiment towards risk assets remained very delicate. The Aussie hovered at $1.0350, having bo
Britain's top shares rose on Tuesday, led by banks which bounced back after recent weakness, although traders were dubious about the rally's solidity due to persistent fears of a Greek debt default and a sharp rise in Italy's borrowing costs. Trading on T
European stocks ended higher on Tuesday, staging a rally from two-year lows hit in morning trade led by recovering banks, but a sharp rise in Italy's borrowing costs and simmering fears of a Greek debt default kept gains in check. The FTSEurofirst 300 ind
The Nikkei stock average rose 1 percent on Tuesday as short-covering emerged after a tumble the day before, but traders said gains may be short-lived as investors focus on Europe's persistent debt woes and the US economic outlook. A late-stage rebound on
Most Southeast Asian stock markets retreated on Tuesday, with big-caps and financials giving up early gains as a tentative recovery rally in global stocks lost steam. Southeast Asia's markets ended near their day's lows as investors cashed in, shadowing l
China's benchmark stock index fell 1.1 percent on Tuesday, hit by a slump in global markets due to growing concerns over Europe's widening debt crisis. The Shanghai Composite Index ended at 2,471.3 points after falling 1.2 percent last week. It managed to
US Treasuries prices finished lower on Monday after late stock market gains and a report that Italy had asked China to buy Italian debt damped the bid for safe-haven US government debt. The Financial Times reported on its website that Italy had asked Chin
US Treasuries prices finished lower on Monday after late stock market gains and a report that Italy had asked China to buy Italian debt damped the bid for safe-haven US government debt. The Financial Times reported on its website that Italy had asked Chin
Taiwan stocks plunged 2.88 percent on Tuesday, pulled down by Apple supplier Hon Hai Precision and other tech exporters amid concern over Europe's debt crisis. Investor sentiment was cautious with investors concerned over more downside ahead. Taiwan's bro
US stocks rose on Monday, bouncing back in late trading, as hopes that Italy could get financial support from China tempered investors' worst fears over the eurozone's sovereign debt crisis. Traders started the day braced for a possible downgrade of Franc
US stocks edged higher on Tuesday as investors bought shares beaten down in recent weeks despite uncertainties about eurozone sovereign debt and the economy. Wall Street's "fear gauge," the CBOE Volatility index, fell 2.3 percent but is up nearly 50 perce
Indian shares erased early gains and fell for a third day in a row on Tuesday, after European markets took fright on worries the region's debt woes could snowball into another banking crisis. The benchmark 30-share BSE Sensex shed 0.2 percent, or 34.40 po
Most Gulf markets bounced back on Tuesday, as bargain-hunters shrugged off world stock declines, but Egypt's bourse succumbed to fragile global sentiment and political woes at home. In Qatar, large-caps helped lift the index, recouping some of Monday's lo
Denmark's banks could face tougher regulation if the centre-right government is ousted by Social Democrat Helle Thorning-Schmidt in parliamentary elections on Thursday. Thorning-Schmidt, whose "Red bloc" coalition leads in opinion polls with just one camp
International alarm over Europe's debt crisis reached new heights on Tuesday, with US President Barack Obama pressing the bloc's big countries to show leadership as talk of a Greek default escalated and markets heaped pressure on Italy. German Chancellor
A Russian court on Thursday supported BP's appeal to bar bailiffs from searching the company's office in Moscow, a day after British Prime Minister David Cameron's visit to Russia, BP said. In his first trip to Russia, Cameron, accompanied by a crowd of B
A Deutsche Bank AG vice president filed a gender bias lawsuit accusing the German bank of denying her pay and promotions, and trying to demote her because she took maternity leave. Kelley Voelker, who works in New York in a hedge fund group, said she has
World oil consumption will increase more slowly than expected this year and next as the pace of global economic growth eases, the International Energy Agency (IEA) said on Tuesday. In its monthly oil market report, the Paris-based agency said financial an
The number of Americans living below the poverty line rose to a record 46.2 million last year as the US economy struggled to recover from recession, the federal government said on Tuesday. In a report that underscores the daunting economic challenges faci
British 12-month inflation edged up to 4.5 percent in August from 4.4 percent in July in part due to rising energy prices, official data showed on Tuesday. Consumer Prices Index inflation jumped 0.6 percent in August from July on a month-on-month basis, t
Europe's biggest urban shopping centre opened on Tuesday in a deprived area of east London where it will act as the gateway to the 2012 Olympics. Westfield Stratford City, which has risen from derelict wasteland in one of the poorest areas in Britain, hou
Bangladesh's exports rose 32.40 percent in August from a year earlier to $2.376 billion, led by strong demand for the country's ready-made garments, the Export Promotion Bureau said on Tuesday. Exports surged 41.5 percent in the fiscal year that ended in
Top Republicans in Congress on Tuesday criticised President Barack Obama's proposal to pay for a job creation plan by eliminating $467 billion in tax breaks for wealthier Americans and corporations. Senate Republican leader Mitch McConnell blasted Obama's
Emerging economies which make up the BRICS group will discuss possible aid to the European Union to help it confront its debt crisis, Brazilian Finance Minister Guido Mantega said Tuesday. "The BRICS nations will meet next week in Washington and we will d
Emerging economies which make up the BRICS group will discuss possible aid to the European Union to help it confront its debt crisis, Brazilian Finance Minister Guido Mantega said Tuesday. "The BRICS nations will meet next week in Washington and we will d
Carmakers at the world's biggest motor show, the IAA, sought Tuesday to rise above the gathering global economic gloom, saying they were better positioned than in the last crisis three years ago. "For the moment, our industry has been unaffected by the fi
On July 01, 1990, the House of Habib, Toyota Motor Corporation Japan (TMC) and Toyota Tsusho Corporation Japan (TTC) established Indus Motor Corporation for assembling, manufacturing and marketing of Toyota vehicles in Pakistan. Indus Motors Corporation (
On July 01, 1990, the House of Habib, Toyota Motor Corporation Japan (TMC) and Toyota Tsusho Corporation Japan (TTC) established Indus Motor Corporation for assembling, manufacturing and marketing of Toyota vehicles in Pakistan. Indus Motors Corporation (
President Asif Ali Zardari on Tuesday strongly condemned the killing of schoolchildren in a shooting spree near Peshawar. The president termed it a 'grave incident of terror' in which the innocent children were targeted as gunmen opened fire on a vehicle
Islamabad Police nabbed seven suspects from various parts of the capital for their alleged involvement in possessing illegal arms and other crimes. The police also recovered four pistols, drugs and looted items from their possession, claimed spokesman of
The trade and industry has hailed Indian assurance to Pakistan that in the WTO it will drop its objection to European Union's trade package to Pakistan.
Jamaat-e-Islami (JI) Tuesday announced that it will hold Islami Inqilab Conference under its ongoing "Go America Go" campaign on September 18 (Sunday) to prove as openly Jihad against the US drone attacks inside Pakistan tribal areas.
District Zakat Chairman and member Peace Committee, Sher Khan was killed while his driver and two security guards sustained injuries in a remote control blast near Maidan Bandae area, here on Tuesday morning. Sher Khan was on his way to Kambar bazaar alon
Heavy rains started from Monday afternoon continued intermittingly to Tuesday lashed the metropolis, inundating main arteries and linked road with rainwater, that could not be drained out due to choked drainage system which has exposed the claims of 'read
The Supreme Court (SC) will announce on Thursday reserved judgment in suo motu case pertaining to cutting of trees for canal widening project in Lahore. The judgment, which was reserved on August 15, 2011, will be announced by Justice Tassaduq Hussain Jil
The Met Office has advised the farmers of agricultural plains of southern Punjab, Sindh and adjoining areas of Balochistan to stop irrigating their cotton and other crops as more heavy rains are expected in these areas.
Corn export premiums at the US Gulf Coast were mostly flat on Monday amid sluggish demand due to elevated US prices, competition from rival exporters, and ample global supplies of feed wheat, traders said. US corn futures rose 1 percent on Monday after US
Downpour in the metropolitan affected business activity on the cotton market on Tuesday as participants could not reach their destinations, sources said on telephone. The Karachi Cotton Association (KCA) did not issue the rate due to said reason, so the r
French farm office FranceAgriMer lifted its estimate of France's soft wheat crop this year to 33.4 million tonnes against 33.3 million seen last month and said crop quality was satisfactory. Compared with last season, the French soft wheat harvest would s
China's crude steel output fell 0.9 percent to 58.75 million tonnes in August from the previous month as several steel mills reduced production due to maintenance, official figures showed. Data released by the National Bureau of Statistics on Tuesday show
Light rains mixed with average sunshine in Ivory Coast's cocoa growing regions last week were in line with levels needed for the good development of the 2011/12 main cocoa crop, farmers said on Monday. Farmers in the principle cocoa growing regions in the
China will release another 200,000 tonnes of sugar from state reserves on Friday, just before the domestic new crushing season starts in October, according to an official announcement posted on an industry website (www.gsmn.cn). The sale is the ninth this
ICE Canadian canola futures fell on Monday to a more than two-week low after the US Department of Agriculture raised its soyabean production forecast, suggesting more comfortable oilseed supplies, traders said. Frost forecast by Environment Canada for par
Australia's wheat exports to Indonesia are expected to rise around 30 percent in the year to September, with better growing conditions giving suppliers a bigger foothold in vital Asian markets, Wheat Exports Australia (WEA) said on Tuesday. Indonesia, whi
Vietnamese exporters may have sold between 20,000 tonnes and 50,000 tonnes of coffee from the next 2011/2012 crop, far below the figure of around 200,000 tonnes sold at the same time last year, traders said on Tuesday. The slowing trade in fresh beans in
Spot basis bids for corn and soyabeans were mostly steady to weak around the US Midwest on Monday as the approaching harvest pressured the basis at some locations while tight existing stocks limited losses, grain merchants said. Recent rains delayed the e
The government of Mrs Dilma Roussef, the first female President of Brazil, was inaugurated in the first day of 2011. Many challenges face Mrs Roussef's administration. Most important of all is to keep Brazil's economy stabilised, inflation low, and develo
Brazil is the 8th biggest economy of the world and the largest among all Latin American countries. Brazilian territory, population and size of economy (GDP) is as big as those of all other South American countries together. Brazil internation reserves hav
Brasil Global Net, the biggest database available in Brazil involving international trade companies, which is absolutely free of charge and managed by the Ministry of External Relations, as well as publications, market studies and information's on fairs,
The Federal Board of Revenue has launched a county-wide action against sales tax zero-rated manufacturing units in five leading export sectors - textile, leather, surgical, carpets and sports goods where electricity is not used exclusively for the manufac
Downward trend was seen on the interbank market on Tuesday as the rupee shed modestly versus dollar, dealers said. The rupee fell in relation to dollar, losing six paisa for buying at 87.51 and slipped by three paisa for selling at 87.53, they said.
Heavy rains have severely affected the industrial production in the city's five main industrial estates. Industrialists said only 5 to 10 percent industrial units managed to carry out production activities in the industrial estates while many industries d
Downward trend was seen on the interbank market on Tuesday as the rupee shed modestly versus dollar, dealers said. The rupee fell in relation to dollar, losing six paisa for buying at 87.51 and slipped by three paisa for selling at 87.53, they said.
Heavy rains have severely affected the industrial production in the city's five main industrial estates. Industrialists said only 5 to 10 percent industrial units managed to carry out production activities in the industrial estates while many industries d
Heavy rains have severely affected the industrial production in the city''s five main industrial estates. Industrialists said only 5 to 10 percent industrial units managed to carry out production activities in the industrial estates while many industries
The United States has provided relief goods to over 50,000 flood-hit families of Sindh in response to the government of Pakistan's disaster declaration last Friday.
The United States has provided relief goods to over 50,000 flood-hit families of Sindh in response to the government of Pakistan's disaster declaration last Friday.
The Ministry of Industries and the Engineering Development Board (EDB) have reportedly extended full support to the Planning Commission in bringing down the general maximum tariff rate to 25 percent from current 32.5 percent, sources told Business Reco
The Ministry of Industries and the Engineering Development Board (EDB) have reportedly extended full support to the Planning Commission in bringing down the general maximum tariff rate to 25 percent from current 32.5 percent, sources told Business Reco
The Ministry of Industries and the Engineering Development Board (EDB) have reportedly extended full support to the Planning Commission in bringing down the general maximum tariff rate to 25 percent from current 32.5 percent, sources told Business Reco
Pakistan and United States strategic dialogue on energy sector would recommence on Wednesday in which the energy working groups of the two countries would meet here for the fourth round. Talking to Business Recorder, US Embassy acting spokesman Robert Rai
The Federal Tax Ombudsman has summoned top federal government officials in connection with the complaint of fraudulent exemption under SRO 575(I)/2006 of June 5, 2006 and allegation of certified corruption of Rs 109 million by Ssangyong Engineering & Cons
Taliban fighters fired rockets at the US Embassy and Nato headquarters in Kabul on Tuesday and attacked police in three other areas in the biggest assault the insurgent group has mounted on the Afghan capital. At least 9 people were killed and 23 wounded
Taliban fighters fired rockets at the US Embassy and Nato headquarters in Kabul on Tuesday and attacked police in three other areas in the biggest assault the insurgent group has mounted on the Afghan capital. At least 9 people were killed and 23 wounded
DCO Karachi Mohammad Hussain Syed has said that removal of encroachments from drains and their channelisation was the only permanent solution to the problem of drainage of rainwater in Karachi. He expressed these views while talking to media representativ
US regulators approved Tuesday a rule requiring 37 large US and foreign financial institutions to submit plans to allow for their orderly dismantlement in case of bankruptcy. In the wake of the 2008-2009 financial crisis, the Federal Deposit Insurance Cor
Punjab Law Minister Rana Sanaullah Khan on Tuesday told the provincial legislature that there was no proposal under consideration to create new districts in the province. Speaking during the 30th session of Punjab Assembly he said there was no need to car
Pakistan and India on Tuesday signed a Memorandum of Understanding (MoU) and also agreed to continue their efforts for a drug-free region. They expressed helplessness to cap the main sources of drug production and trafficking in Afghanistan. The two count
Pakistan and India on Tuesday signed a Memorandum of Understanding (MoU) and also agreed to continue their efforts for a drug-free region. They expressed helplessness to cap the main sources of drug production and trafficking in Afghanistan. The two count
The KSE-100 index on Tuesday gained 83.79 points to close at 11,264.43 points on the back of investors' interest on available attractive levels. Due to heavy rain in the city and very thin attendance of investors, the KSE management decided to close the m
The KSE-100 index on Tuesday gained 83.79 points to close at 11,264.43 points on the back of investors' interest on available attractive levels. Due to heavy rain in the city and very thin attendance of investors, the KSE management decided to close the m
The KSE-100 index on Tuesday gained 83.79 points to close at 11,264.43 points on the back of investors'' interest on available attractive levels. Due to heavy rain in the city and very thin attendance of investors, the KSE management decided to close the
The change in the jurisdiction of the Regional Tax Offices (RTOs) on territorial basis is one of the reasons for transfer of sales tax, income tax and federal excise duty record from one RTO to the other which causes delay in proper response of audit obje