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Print - 2011-12-12
Northeast US states cut heating aid to poor

Northeast US states cut heating aid to poor

Thousands of poor people across the US Northeast are bracing for a difficult winter with substantially less home heating aid coming from the federal government. Several Northeast states have reduced heating aid benefits to families as Congress considers s
Published 12 Dec, 2011 12:00am
US commander defends night raids in Afghanistan

US commander defends night raids in Afghanistan

The US Special Operations commander who directed the operation that killed Osama bin Laden defended the unpopular night raids on homes in Afghanistan that have provoked the fury of the country's president and held up a security agreement with the United S
Published 12 Dec, 2011 12:00am
French far-right leader gears up for presidential vote

French far-right leader gears up for presidential vote

French far-right candidate Marine Le Pen said Sunday her anti-immigration views and vows to leave the euro represent the "silent majority" as her campaign for next year's presidential vote geared up.
Published 12 Dec, 2011 12:00am
Palestinians mourn protester killed at demonstration

Palestinians mourn protester killed at demonstration

Thousands of Palestinians gathered in the West Bank village of Nabi Saleh on Sunday to mourn a man who died after being hit in the head by an Israeli tear gas canister. Mustafa Abdelrazek al-Tamimi's body was taken from the city of Ramallah in a funeral p
Published 12 Dec, 2011 12:00am
Attacks kill six in Iraq

Attacks kill six in Iraq

At least six people were killed in separate attacks in northern Iraq, police sources said Sunday. Four family members were killed when gunmen stormed their house in Mosul city, 400 kilometres north of Baghdad. "Three women and one man were killed overnigh
Published 12 Dec, 2011 12:00am
CERN set to report probable Higgs sighting this week

CERN set to report probable Higgs sighting this week

void(0)" onMouseOver="popup(event,'Copyright Reuters, 2011
Published under arrangements with Reuters.

No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication
Published 12 Dec, 2011 12:00am
Gingrich weathers attacks in Republican race

Gingrich weathers attacks in Republican race

White House hopeful Newt Gingrich weathered a pummelling by rivals who attacked the Republican frontrunner's conservative credentials, marital infidelities and a provocative remark about Palestinians.
Published 12 Dec, 2011 12:00am
Israel frees up funds to block African migrants

Israel frees up funds to block African migrants

Israel's government approved on Sunday a $167 million plan to try to stem the flow of African migrants who cross into the country through its porous border with Egypt. Announcing the government's intention to raise fines for employers who hire illegal wor
Published 12 Dec, 2011 12:00am
One dead as Chinese boat capsizes near Philippines

One dead as Chinese boat capsizes near Philippines

A Chinese-registered vessel has capsized in rough seas off the northern Philippines, leaving one crew member dead, police said Sunday. Police said there were no immediate details as to the size and origin of the vessel but added that one Chinese crew memb
Published 12 Dec, 2011 12:00am
Iraq and Iran swap 93 bodies of 1980s war dead

Iraq and Iran swap 93 bodies of 1980s war dead

Iraq and Iran on Sunday exchanged the remains of 93 soldiers killed in their 1980-88 war, which claimed the lives of one million people. The bodies of 3 Iranians and 90 Iraqis were handed over at the border crossing point of Shalamcha in southern Iraq, wh
Published 12 Dec, 2011 12:00am
Nato to withdraw mission at year-end: Iraq

Nato to withdraw mission at year-end: Iraq

Nato will withdraw its Iraq training mission at year-end after Baghdad refused to grant it legal immunity, Iraq's top security adviser said on Sunday, mirroring the nearly-complete pullout of US forces.
Published 12 Dec, 2011 12:00am
SSDC to enhance export of valuable marble: Motiwala

SSDC to enhance export of valuable marble: Motiwala

Chairman Sindh Board of Investment (SBI), Muhammad Zubair Motiwala has said that the foremost objective of Sindh Stone Development Company (SSDC) is to enhance the export of valuable marble and granite resources of Pakistan by focusing on increased compet
Published 12 Dec, 2011 12:00am
Easy conditions in cotton market may last upto first quarter of new year

Easy conditions in cotton market may last upto first quarter of new year

The pace of seed-cotton arrivals has slowed down after touching peak of the season at 2.0 million running bales in the second fortnight of last October month. In fact, October month was peak month for seed-cotton arrivals in which seed-cotton equivalent o
Published 12 Dec, 2011 12:00am
Easy conditions in cotton market may last upto first quarter of new year

Easy conditions in cotton market may last upto first quarter of new year

The pace of seed-cotton arrivals has slowed down after touching peak of the season at 2.0 million running bales in the second fortnight of last October month. In fact, October month was peak month for seed-cotton arrivals in which seed-cotton equivalent o
Published 12 Dec, 2011 12:00am
CS directs maintaining law and order; curb streets crimes

CS directs maintaining law and order; curb streets crimes

The Chief Secretary Sindh, Raja Muhammad Abbas took notice of complaints pertaining to street crimes, and directed the concerned officials to beef up the law and order situation to effectively curb such crimes and criminals, a statement issued here on Sun
Published 12 Dec, 2011 12:00am
Three more killed in violence

Three more killed in violence

At least three people were killed and two injured in firing incidents in different parts of Karachi, police said on Sunday. According to police, some unidentified persons shot dead a youth, Shahnawaz, in Purana Golimar area while another incident of targe
Published 12 Dec, 2011 12:00am
AFP Counsellor meets IGP Sindh

AFP Counsellor meets IGP Sindh

The Counsellor Police Liaison, Australian Federal Police (AFP), Marzio Da Re, called on Inspector General of Police Sihdh, Mushtaq Ahmed Shah, at the CPO. A statement on Sunday said that Additional IGP Karachi/CID, Ghulam Shabbir Shaikh, DIGP Headquarters
Published 12 Dec, 2011 12:00am
Gas supply to industrial units remains suspended

Gas supply to industrial units remains suspended

Despite 18-hour CNG loadshedding in Karachi to save the fuel for power generation, the gas supply to city's industrial units remained suspended on Sunday. At the same time the city also witnessed outages amid continued power crises.
Published 12 Dec, 2011 12:00am
Vaccine against Ebola works in mice: US study

Vaccine against Ebola works in mice: US study

US researchers said that they have made progress toward an experimental vaccine against the deadly Ebola virus that is 80 percent effective in mice. Ebola is a rare but notorious African virus and feared future weapon of bio terrorism because it usually k
Published 12 Dec, 2011 12:00am
Study links tropical cyclones to earthquakes

Study links tropical cyclones to earthquakes

US researchers said on December 08 they have found evidence that tropical cyclones in Haiti and Taiwan were followed by earthquakes, suggesting that heavy rains and landslides may unleash temblors. "Very wet rain events are the trigger," said University o
Published 12 Dec, 2011 12:00am
Fukushima radioactive water leaked to Pacific

Fukushima radioactive water leaked to Pacific

Highly radioactive waste water from a crippled Fukushima nuclear plant has leaked to the Pacific, its operator said on December 06, promising to prevent similar incidents. Tokyo Electric Power Co (TEPCO) said it believes 150 litres (40 US gallons) of wast
Published 12 Dec, 2011 12:00am
Eating fish boosts heart health in young women

Eating fish boosts heart health in young women

Women of childbearing age can reduce their risk of heart problems by regularly eating fish rich in omega 3 fatty acids, said a Danish study. The study is the first to examine younger women, age 15-49, and determine that whether fish in their diet has a re
Published 12 Dec, 2011 12:00am
Amazon forest loss at lowest in 23 years

Amazon forest loss at lowest in 23 years

Deforestation in Brazil's Amazon region fell to its lowest in 23 years in the year through July, the government said on December 05, attributing the drop to its tougher stance against illegal logging.
Published 12 Dec, 2011 12:00am
NASA catalogs thousands of asteroids near Earth

NASA catalogs thousands of asteroids near Earth

About 1,000 asteroids big enough to cause catastrophic damage if they hit Earth are orbiting relatively nearby, a NASA survey shows. In a project known as Spaceguard, the US space agency was ordered by Congress in 1998 to find 90 percent of objects near E
Published 12 Dec, 2011 12:00am
US to test therapy to prevent birth defects

US to test therapy to prevent birth defects

The National Institutes of Health (NIH) is set to launch a large trial using antibodies to test a way to prevent birth defects, such as blindness and deafness, caused by mothers passing a common virus to their unborn babies. Australian blood plasma group
Published 12 Dec, 2011 12:00am
'Record-setting' change in warming Arctic: report

'Record-setting' change in warming Arctic: report

An international team of 121 scientists has found "record-setting" change in the Arctic linked to global warming, including melting ice, warming waters and changing wind patterns. The 2011 Arctic Report Card, compiled by scientists from 14 countries, "sho
Published 12 Dec, 2011 12:00am
Android Market downloads top 10 billion: Google

Android Market downloads top 10 billion: Google

Google said on December 6 that over 10 billion applications have been downloaded from the Android Market, which offers free and paid programmes for smartphones and tablet computers running the Internet giant's operating system.
Published 12 Dec, 2011 12:00am
Google+ rolling out facial recognition feature

Google+ rolling out facial recognition feature

Google is rolling out a feature that lets members of its online social network automatically find themselves in photos posted by friends. The "Find My Face" feature being added to Google+ over the next several days is opt-in only, meaning people have to m
Published 12 Dec, 2011 12:00am
Google unveils magazine reading application

Google unveils magazine reading application

Google on December 8 released a magazine reading application for smartphones or tablet computers powered by Android or Apple software. The California Internet titan worked with more than 150 publishing partners for the US launch of "Google Currents," whic
Published 12 Dec, 2011 12:00am
HP makes webOS mobile software public

HP makes webOS mobile software public

Hewlett-Packard said on December 9 it is making its webOS mobile operating system available to the open source community and changed course on plans to abandon making tablets based on the platform. HP will take another shot at making webOS tablets, most l
Published 12 Dec, 2011 12:00am
Access to web, phones key to helping the poor: LeWeb

Access to web, phones key to helping the poor: LeWeb

Governments world-wide must boost internet accessibility in order to nurture democracy and economic development, entrepreneur Loic Le Meur said at the prestigious LeWeb technology conference in Paris which he founded.
Published 12 Dec, 2011 12:00am
Twitter revamps to connect the world

Twitter revamps to connect the world

Twitter on December 8 began rolling out overhauled pages crafted to boost the appeal of the message-sharing service to world-wide users. "At the very core there are fewer places you have to click and less you have to learn," Twitter co-founder Jack Dorsey
Published 12 Dec, 2011 12:00am
Microsoft to open 'app store' in February

Microsoft to open 'app store' in February

Microsoft on December 6 began wooing developers for a February opening of its first "app store" for computers powered by the US technology giant's Windows software. The Windows Store will open in late February when Microsoft releases a test version of its
Published 12 Dec, 2011 12:00am
Facebook fixes photo privacy bug

Facebook fixes photo privacy bug

Facebook has fixed a bug that allowed the viewing of some private photographs of other members and which was reportedly used to access personal pictures of founder Mark Zuckerberg. The bug involved Facebook's system of reporting inappropriate images on th
Published 12 Dec, 2011 12:00am
Yahoo! launches online comedy channel

Yahoo! launches online comedy channel

Yahoo! is adding a comedy channel to its online line-up, kicking it off with a "CrazyStupidPolitics" show starring Bill Maher live in Silicon Valley in February. Channel offerings will include short videos from Saturday Night Live television show writer M
Published 12 Dec, 2011 12:00am
Samsung to build flash memory chip line in China

Samsung to build flash memory chip line in China

Samsung Electronics, the world's largest memory chip maker, said on December 6 it would build a new production line in China for flash memory chips used in tablets and smartphones. Samsung plans to start construction of the NAND flash chip plant in 2012 f
Published 12 Dec, 2011 12:00am
Google eyes Asia growth with new data centres

Google eyes Asia growth with new data centres

Google on December 8 began construction of a new data centre in Hong Kong, the first of three planned for Asia as the Web giant expands to meet the region's growing thirst for information technology. Two other data centres - which usually house computer a
Published 12 Dec, 2011 12:00am
Laurel gears up for Asia expansion

Laurel gears up for Asia expansion

Privately-held luxury German fashion brand Laurel GmbH, formerly a subsidiary of Escada SE, plans to rapidly boost its presence in Asia, particularly in China, aiming to offset sluggish growth in its European markets.
Published 12 Dec, 2011 12:00am
IBM buys Irish software company

IBM buys Irish software company

US computer giant IBM said on December 05 that it has bought Curam Software, an Irish company that makes programs used by government agencies to deliver social services to citizens. Financial terms of the transaction were not disclosed.
Published 12 Dec, 2011 12:00am
Total to buy North Sea fields from GDF Suez

Total to buy North Sea fields from GDF Suez

French oil company Total said on December 06 it was buying stakes in two British North Sea gas fields from GDF Suez for 590 million euros ($790 million). The transaction will increase Total's stake in the Elgin and Franklin fields, which account for 7.0 p
Published 12 Dec, 2011 12:00am
SAP - revolutionising industry?

SAP - revolutionising industry?

Have you ever driven a BMW? Many would agree it's a fantastic piece of German engineering where every intricate detail has been planned like tapestry on a Persian carpet. No I am not writing an article, advertising BMW, but underlining the amazing product
Published 12 Dec, 2011 12:00am
Bond insurance market evolving, not dying

Bond insurance market evolving, not dying

The failure of credit default swaps to pay out to bondholders burnt by Greece should spell the beginning of the end for a bond insurance market accused of exacerbating Europe's debt stresses. That it may not underscores just how much investors have learnt
Published 12 Dec, 2011 12:00am
Bond insurance market evolving, not dying

Bond insurance market evolving, not dying

The failure of credit default swaps to pay out to bondholders burnt by Greece should spell the beginning of the end for a bond insurance market accused of exacerbating Europe's debt stresses. That it may not underscores just how much investors have learnt
Published 12 Dec, 2011 12:00am
Santander reports sale of Colombian units for $1.225 billion

Santander reports sale of Colombian units for $1.225 billion

Spanish banking giant Santander said on December 07 it had agreed to sell its units in Colombia to Chile's CorpBanca for $1.225 billion (910 million euros) which it will use to strengthen its balance sheet. The sale of Banco Santander Colombia and several
Published 12 Dec, 2011 12:00am
Dubai's JAFZA in debt talks, rules out government aid

Dubai's JAFZA in debt talks, rules out government aid

Dubai's Jebel Ali Free Zone (JAFZA) is confident it can refinance a $2.04-billion Islamic bond due next year without government support and it does not rule out asset sales to help raise funds, its chairman said on December 06.
Published 12 Dec, 2011 12:00am
Dubai's JAFZA in debt talks, rules out government aid

Dubai's JAFZA in debt talks, rules out government aid

Dubai's Jebel Ali Free Zone (JAFZA) is confident it can refinance a $2.04-billion Islamic bond due next year without government support and it does not rule out asset sales to help raise funds, its chairman said on December 06.
Published 12 Dec, 2011 12:00am
Sunderland score late to give O'Neill winning start

Sunderland score late to give O'Neill winning start

Seb Larsson's stoppage-time free kick gave Sunderland a 2-1 victory over Blackburn Rovers in the Premier League on Sunday as manager Martin O'Neill watched his side come from behind for a win in his first match in charge.
Published 12 Dec, 2011 12:00am
Anelka agrees terms with Chinese club

Anelka agrees terms with Chinese club

Chinese Super League club Shanghai Shenhua said on Sunday they had agreed contract terms with Chelsea's Nicolas Anelka. "We have agreed on all the contract details and we are only waiting for him to sign it," club official Ma Yue told Reuters by telephone
Published 12 Dec, 2011 12:00am
Openers propel Australia towards victory

Openers propel Australia towards victory

Openers David Warner and Phillip Hughes gave Australia a strong platform for victory over New Zealand before rain ended play early on the third day of the second Test on Sunday.
Published 12 Dec, 2011 12:00am
Australia win fourth straight Champions Trophy

Australia win fourth straight Champions Trophy

Australia maintained its stranglehold on hockey's Champions Trophy with a 1-0 win over Spain on Sunday, claiming a record fourth straight title through a disputed goal to Eddie Ockenden.
Published 12 Dec, 2011 12:00am
India retain SAFF title

India retain SAFF title

Defending champions India retained the South Asian Football Federation (SAFF) title with a 4-0 win over Afghanistan in the final in New Delhi on Sunday. The hosts were kept at bay for the first 45 minutes by a strong Afghan defence, but broke the deadlock
Published 12 Dec, 2011 12:00am
Donald achieves remarkable order of merit double

Donald achieves remarkable order of merit double

Luke Donald was on top of the world in more ways than one on Sunday after becoming the first player to win the money-list crowns in Europe and the United States. Rival Rory McIlroy needed to win the Dubai World Championship to deny Englishman Donald the c
Published 12 Dec, 2011 12:00am
India win final ODI against West Indies

India win final ODI against West Indies

West Indian all-rounder Kieron Pollard blasted 10 sixes but his power-packed maiden century was not enough to avert a 34-run defeat against India in the fifth and final one-dayer on Sunday.
Published 12 Dec, 2011 12:00am
Pakistan eye win after Younis double ton

Pakistan eye win after Younis double ton

Younis Khan cracked an unbeaten double-century and Asad Shafiq made his maiden international hundred as Pakistan closed in on victory in the first Test against Bangladesh on Sunday. Younis smashed a solid 200 not out and Shafiq an impressive 104 as Pakist
Published 12 Dec, 2011 12:00am
Peshawar become Quaid-e-Trophy Cricket Champion

Peshawar become Quaid-e-Trophy Cricket Champion

Peshawar became the Champion of Quaid-e-Trophy National Cricket Championship (Division-II) after handing a shocking 6-wickets defeat to stars-studded Sui Northern Gas Pipe Line Ltd (SNGPL) on the fourth-day of the five day final played here at Arbab Niaz
Published 12 Dec, 2011 12:00am
Amir Khan ready for rematch after shock defeat

Amir Khan ready for rematch after shock defeat

Britain's Amir Khan, saying he felt a rightful victory was stolen from him on Saturday, vowed to return stronger after a controversial majority decision defeat to American Lamont Peterson. The 25-year-old English boxer said he was putting his plans to ris
Published 12 Dec, 2011 12:00am
Italy bank group threatens to sue EBA over rules

Italy bank group threatens to sue EBA over rules

The head of the Italian Banking Association (ABI) on Sunday threatened to sue the European Banking Authority (EBA) over rules announced last week obliging Italian lenders to plug a capital shortfall set at 15.37 billion euros ($20.54 billion).
Published 12 Dec, 2011 12:00am
Swiss and US inch closer to tax-row deal

Swiss and US inch closer to tax-row deal

Swiss and US officials have met in recent days in Berne to try to end a long-running dispute over wealthy Americans using secret Swiss accounts to dodge taxes, and seem to be getting closer to a deal, two newspapers reported on Sunday.
Published 12 Dec, 2011 12:00am
Risk-shy banks may prompt credit pinch: EBA

Risk-shy banks may prompt credit pinch: EBA

The European Banking Authority (EBA) has warned lenders against being so risk-averse as to prompt a credit crunch. It also said regulators would not allow a cut in lending as a means to meeting regulatory capital targets.
Published 12 Dec, 2011 12:00am
Immigrant carers rally in Taiwan for weekly day off

Immigrant carers rally in Taiwan for weekly day off

Almost a thousand protesters took to the streets of Taipei on Sunday demanding that the government make a weekly day off a legal right for Taiwan's 200,000 foreign live-in carers. The demonstrators - mostly caregivers from Southeast Asia backed by local l
Published 12 Dec, 2011 12:00am
France won't use state funds to shore up banks

France won't use state funds to shore up banks

The French government will not use state funds to assist banks in their efforts to build up capital after being hit by the eurozone debt crisis, Budget Minister Valerie Pecresse said Sunday. "The state will not put money into French banks," Pecresse, who
Published 12 Dec, 2011 12:00am
Eurozone agreement only partial solution: IMF

Eurozone agreement only partial solution: IMF

An agreement reached by European countries for deeper economic integration was a step in the right direction but not a complete solution for the eurozone's debt crisis, International Monetary Fund (IMF) chief economist Olivier Blanchard said on Sunday.
Published 12 Dec, 2011 12:00am
Samsung sells over 300 million mobile handsets in 2011

Samsung sells over 300 million mobile handsets in 2011

Samsung Electronics Co Ltd said on Sunday its annual mobile handset sales this year had exceeded 300 million units for the first time in the company's history. The world's second largest handset maker by volume said in a statement it had broken its sales
Published 12 Dec, 2011 12:00am
US threat of Airbus sanctions excessive: France

US threat of Airbus sanctions excessive: France

A US move to ask the World Trade Organisation for permission to impose trade sanctions on Airbus, after rejecting a European Union plan to eliminate subsidies, is "excessive and premature", France's Trade Minister said on Sunday.
Published 12 Dec, 2011 12:00am
Bahrain pushes bank mergers to boost capital

Bahrain pushes bank mergers to boost capital

Bahrain's central bank has urged five Islamic banks to merge early next year as it seeks to strengthen the banks' capital bases, a senior official said on Sunday. Under the plan, Al Salam Bank would merge with Bahrain Islamic Bank, while CAPIVEST, Elaf Ba
Published 12 Dec, 2011 12:00am
S&P reviewing ratings of 50 MENA banks on new criteria

S&P reviewing ratings of 50 MENA banks on new criteria

Standard & Poor's (S&P) is reviewing credit ratings on 50 banks in the Middle East and North Africa under a new set of criteria, a move that could result in higher funding costs for lenders already hit by the eurozone crisis and the Arab Spring revolts.
Published 12 Dec, 2011 12:00am
Arab Monetary Fund unlikely to offer aid to Europe

Arab Monetary Fund unlikely to offer aid to Europe

The Arab Monetary Fund is unlikely to offer any funding assistance to the eurozone because providing loans to unrest-hit countries across the Arab world has priority, Director General Jassim al-Mannai said on Sunday.
Published 12 Dec, 2011 12:00am
Global woes slow Bangladesh export growth rate

Global woes slow Bangladesh export growth rate

Bangladesh's exports in November rose 2.4 percent from a year earlier to $1.59 billion, a sharp drop from October's 15.4 percent rate as a cooling global economy took its toll. Exports for July-November, the first five months of the fiscal year, were up 1
Published 12 Dec, 2011 12:00am
Standard Chartered eyes Oman, Nigeria for Islamic banking

Standard Chartered eyes Oman, Nigeria for Islamic banking

Standard Chartered is in discussions with regulators to offer Islamic banking services in Oman and Nigeria, now that both countries are revamping their regulatory environments to encourage Islamic finance, the bank's global head of Islamic banking on Sund
Published 12 Dec, 2011 12:00am
Sanctions and subsidy cuts lift Iran inflation

Sanctions and subsidy cuts lift Iran inflation

Inflation in sanctions-hit Iran rose to 19.8 percent in November, the head of the central bank said on Sunday, continuing a 15-month increase as prices are pressured by growing economic isolation and reduced government subsidies.
Published 12 Dec, 2011 12:00am
Guodian Technology and Environment eyes HK$5 billion

Guodian Technology and Environment eyes HK$5 billion

Cornerstone investors and a government keen on cutting pollution may not be enough to ensure a smooth ride for two Chinese clean-tech firms looking to raise nearly $1 billion in total through IPOs in Hong Kong, given the underperformance of listed peers.
Published 12 Dec, 2011 12:00am
Mixed response for Rose Rock, Memorial Production IPOs

Mixed response for Rose Rock, Memorial Production IPOs

Shares of energy companies Rose Rock Midstream LP and Memorial Production Partners LP received a mixed response on Friday, after failing to garner much investor interest during the run-up to their initial public offerings.
Published 12 Dec, 2011 12:00am
Tokyo shares to take a breather next week

Tokyo shares to take a breather next week

Tokyo stocks will likely take a breather next week as investors digest news from a European Union summit seen as crucial to containing the eurozone's debt crisis, dealers said. Feuding EU leaders failed to agree a new treaty to tackle the debt crisis and
Published 12 Dec, 2011 12:00am
Wall Street Weekahead: corporate warnings bode ill for earnings

Wall Street Weekahead: corporate warnings bode ill for earnings

On top of eurozone debt troubles, Wall Street now has to worry about sagging sales from Europe as a recession in the region seems more likely. Warnings from companies such as chemical maker DuPont and chip maker Texas Instruments suggest the crisis may al
Published 12 Dec, 2011 12:00am
Saudi Arabia to OK some foreign ownership of stocks

Saudi Arabia to OK some foreign ownership of stocks

Saudi Arabia's plans to open up its stock market will limit direct foreign ownership to investors with at least $5 billion under management and allow each to hold a maximum 5 percent of a stock's issued share capital, two industry sources said.
Published 12 Dec, 2011 12:00am
Saudi aviation authority sets sukuk for Jeddah airport

Saudi aviation authority sets sukuk for Jeddah airport

Saudi Arabia's General Authority for Civil Aviation (GACA) will issue a sukuk, or Islamic bond, within one or two months to help finance its new 27-billion-riyal ($7.2-billion) airport in Jeddah, its president said on Al Arabiya television channel.
Published 12 Dec, 2011 12:00am
Yen to weaken slightly in 2012

Yen to weaken slightly in 2012

The Japanese yen will remain firm against the dollar in the next few months but then weaken gradually in 2012 as domestic firms start investing overseas and the US economic recovery gathers steam, a Reuters poll showed on Wednesday.
Published 12 Dec, 2011 12:00am
Global Markets Weekahead: no drama, but no all clear for investors

Global Markets Weekahead: no drama, but no all clear for investors

Eurozone leaders' agreement to pursue stricter budget rules to preserve the euro may be just enough to put a floor on a sell-off in risk assets into year-end, if not to turn around investor sentiment completely. Investors, however, are about to enter a pe
Published 12 Dec, 2011 12:00am
London looking forward to a quiet trading week

London looking forward to a quiet trading week

London traders are looking forward to a quiet week ahead although neither British unemployment data nor results from Thomas Cook travel agency are expected to bring much comfort. Trading was volatile in the outgoing week, with London's FTSE-100 index of l
Published 12 Dec, 2011 12:00am
South Africa's rand seen five percent stronger

South Africa's rand seen five percent stronger

South Africa's rand should bounce back 5 percent in the next year after its hammering since August by investors worried about the knock-on effects of weak eurozone and US economic growth, a Reuters poll showed on Wednesday. Considered a high-risk asset, t
Published 12 Dec, 2011 12:00am
Aussie and New Zealand dollars seen holding gains in 2012

Aussie and New Zealand dollars seen holding gains in 2012

The high-flying Aussie dollar is forecast to remain around parity for the coming year thanks to a robust economy and despite a deteriorating debt crisis in Europe and expectations for more interest rate cuts in Australia.
Published 12 Dec, 2011 12:00am
Iran regrets storming of British embassy

Iran regrets storming of British embassy

Iran's foreign minister, Ali Akbar Salehi, reiterated on Sunday that he regretted last month's storming of the British embassy in Tehran, but asserted that the incident was "not foreseeable." "The incursion into the embassy was not foreseeable... The prot
Published 12 Dec, 2011 12:00am
Egypt's Islamists reject army interference in constitution

Egypt's Islamists reject army interference in constitution

Egypt's Islamists said on Sunday they would not accept any interference from the ruling military council over the future constitution amid uncertainty about the army's role in the process. "No one except the elected parliament has the right to draft legis
Published 12 Dec, 2011 12:00am
5,000 surface-to-air missiles secured in Libya: US

5,000 surface-to-air missiles secured in Libya: US

A top US official said on Sunday that a team of US and Libyan bomb-disposal specialists has secured about 5,000 surface-to-air missiles stockpiled during the regime of Moamer Qadhafi.
Published 12 Dec, 2011 12:00am
Tunisian assembly adopts provisional constitution

Tunisian assembly adopts provisional constitution

Tunisia's constituent assembly on Saturday adopted a provisional constitution that will allow the north African country to name a government, a month and a half after its first post-revolution election. The 217-member assembly approved each of the 26 clau
Published 12 Dec, 2011 12:00am
Berlin to start Afghan troop pull-out in February

Berlin to start Afghan troop pull-out in February

Germany, which has over 5,000 troops in Afghanistan, will withdraw 200 soldiers at the start of February, a German weekly reported on Sunday. Germany plans to whittle its forces in Afghanistan to 4,900 next year against 5,350 at present. The Nato-led forc
Published 12 Dec, 2011 12:00am
Two foreign soldiers killed in Afghanistan

Two foreign soldiers killed in Afghanistan

Two soldiers with the Nato-led international forces were killed Sunday in an improvised explosive device attack in eastern Afghanistan, the military coalition said. The alliance did not specify the nationality of the deceased nor the exact location of the
Published 12 Dec, 2011 12:00am
DR Congo vote battle intensifies as observers slam flaws

DR Congo vote battle intensifies as observers slam flaws

The Democratic Republic of Congo's election stand-off intensified Sunday after a team of international observers reported that incumbent Joseph Kabila's win was so flawed it lacked credibility. Kabila, in power since 2001, was on Friday named the winner o
Published 12 Dec, 2011 12:00am
Lebanon UN attack 'a message from Syria:' Hariri

Lebanon UN attack 'a message from Syria:' Hariri

The bombing that wounded five French UN peacekeepers in south Lebanon was a message from Syria, pro-Western opposition leader and ex-premier Saad Hariri tweeted on Sunday. "Another message from Bashar" al-Assad, Hariri wrote on Twitter of the Syrian presi
Published 12 Dec, 2011 12:00am
Ivory Coast holds first post-Gbagbo elections

Ivory Coast holds first post-Gbagbo elections

Ivorians voted Sunday to elect a new parliament in a poll boycotted by the party of former strongman Laurent Gbagbo, who is awaiting trial in The Hague for crimes against humanity. The vote comes a year after the aftermath of a divisive presidential elect
Published 12 Dec, 2011 12:00am
Indonesian man dies after self-immolation

Indonesian man dies after self-immolation

An 22-year-old Indonesian man has died after setting himself on fire near the presidential palace, police said Sunday, in what is believed to be the country's first self-immolation protest. The man, identified as student Sondang Hutagalung, died on Saturd
Published 12 Dec, 2011 12:00am
Explosion kills three in Copenhagen apartment

Explosion kills three in Copenhagen apartment

Danish police say a fire and explosion in an apartment in Copenhagen has killed three people. Police spokesman Lau Thygesen says two men aged 38 and 39, and a 34-year-old woman, were killed by an explosion in an apartment in the Fredriksberg area of Copen
Published 12 Dec, 2011 12:00am
Iran to keep US drone but ready for deal

Iran to keep US drone but ready for deal

Iran said Sunday it would keep a captured US drone, rather than return it, but also indicated willingness to reach a deal. "We will keep the US spying drone and examine and analyse it, to see to what extent it could increase our technological know-how," s
Published 12 Dec, 2011 12:00am
Sub-campus of UAF becomes full-fledged university

Sub-campus of UAF becomes full-fledged university

The University of Agriculture Faisalabad sub-campus in Toba Tek Singh will be made full-fledged University, announced UAF Vice-Chancellor Professor Dr Iqrar Ahmad Khan. He was addressing Technology Transfer Workshop at UAF sub-campus situated in Toba Tek
Published 12 Dec, 2011 12:00am
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