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Print - 2011-12-21
Fitch downgrades French bank rating outlook

Fitch downgrades French bank rating outlook

Fitch Ratings agency said Tuesday it was downgrading the credit outlook on four French banks, including Societe Generale, to negative and putting seven Italian and eight Spanish lenders on watch. Fitch said it revised the stable outlook to negative on Soc
Published 21 Dec, 2011 12:00am
Brazil posts record current account gap

Brazil posts record current account gap

Brazil posted its biggest monthly current account ever in November, as a slumping global economy hit trade and foreign investment, while foreign companies repatriated more profits amid fears of a financial crisis in Europe. Brazil posted a current account
Published 21 Dec, 2011 12:00am
FDI in Egypt plummets over the summer

FDI in Egypt plummets over the summer

Foreign investment in Egypt plummeted over its summer to almost a quarter of its level a year earlier as investors, unnerved by the region's political turmoil, fled, the central bank said on Tuesday. Foreign direct investment (FDI) fell to $440.1 million
Published 21 Dec, 2011 12:00am
Auditor slaps Indian army over delay in gun deals

Auditor slaps Indian army over delay in gun deals

India's national auditors on Tuesday blasted the military for dragging its feet on the procurement of modern artillery pieces, saying delays had denied the million-plus army crucial firepower. "The abnormal delay in procurement of new guns has not only im
Published 21 Dec, 2011 12:00am
German business morale rises, defies eurozone gloom

German business morale rises, defies eurozone gloom

German business sentiment rose sharply in December, defying expectations for a decline and underscoring the resilience of Europe's dominant economy in the face of a sovereign debt crisis that has hammered eurozone growth. The Munich-based Ifo think tank s
Published 21 Dec, 2011 12:00am
Switzerland and US close to tax agreement

Switzerland and US close to tax agreement

Switzerland and the United States are "reasonably close" to reaching an agreement to end a long-running dispute over wealthy Americans using secret Swiss accounts to dodge taxes, the Swiss ambassador to the United States told website swissinfo on Tuesday.
Published 21 Dec, 2011 12:00am
Google, TransCanada set solar plant deals

Google, TransCanada set solar plant deals

Google Inc and TransCanada Corp announced deals to buy solar power projects on Tuesday, just days after billionaire Warren Buffett made his second major purchase in the sector. Prices for solar panels have fallen more than 40 percent this year, pushing th
Published 21 Dec, 2011 12:00am
UBS 'rogue trader' remanded in custody

UBS 'rogue trader' remanded in custody

A trader accused of a $2.25 billion fraud at Swiss bank UBS was remanded in custody by a London court on Tuesday as his case was adjourned until January 30, when he must enter a plea. Kweku Adoboli, 31, is charged with two counts of fraud and two of false
Published 21 Dec, 2011 12:00am
UK reaches outline pension deal with unions

UK reaches outline pension deal with unions

The British government has reached a tentative deal on pension reform with most public sector unions, treasury minister Danny Alexander said on Tuesday, easing fears of further strikes after a mass walkout over the issue last month. Union executives and m
Published 21 Dec, 2011 12:00am
BoE outlines arsenal to curb banks

BoE outlines arsenal to curb banks

The Bank of England set out the powers it needs to smooth out booms and busts in the banking sector, under a major shake-up of British financial supervision that could make the country's banks among Europe's most tightly regulated. The measures to keep th
Published 21 Dec, 2011 12:00am
Spain borrowing costs dive; ECB loans seen at work

Spain borrowing costs dive; ECB loans seen at work

Short-term financing costs for eurozone struggler Spain more than halved on Tuesday as banks lapped up debt at an auction, with much of the purchasing power said to come from cut-rate money to be lent by the European Central Bank. The eurozone's debt dile
Published 21 Dec, 2011 12:00am
Thai exports plunge for first time in two years

Thai exports plunge for first time in two years

Thailand exports in November dived for the first time in more than two years because of the kingdom's devastating recent flooding, government data showed Tuesday. Exports dropped 12.4 percent for the month from a year earlier to $15.49 billion, the first
Published 21 Dec, 2011 12:00am
Hungary amends central bank law

Hungary amends central bank law

Hungary has amended a draft law on the central bank to comply with nearly all the changes demanded by the European Central Bank, a ruling Fidesz party lawmaker said on Tuesday after the European Commission asked Hungary not to adopt the legislation. Bruss
Published 21 Dec, 2011 12:00am
Jump in US housing starts points to recovery

Jump in US housing starts points to recovery

US housing starts and building permits jumped to a 1-1/2 year high in November as demand for rental apartments rose, suggesting the housing market was entering a tentative recovery. Tuesday's data, which also showed gains in groundbreaking for single-fami
Published 21 Dec, 2011 12:00am
Indian shares fall to 28-month low

Indian shares fall to 28-month low

Indian shares fell for a fifth session in a row on Tuesday, dropping 1.3 percent to their lowest close in 28 months, as risk aversion deepened in the absence of policy initiatives to revive slowing domestic growth. Investor confidence was further dented w
Published 21 Dec, 2011 12:00am
Nikkei gains modestly

Nikkei gains modestly

Japan's Nikkei average rose modestly on Tuesday as short-term players bought back shares that had been sold after news of the death of North Korean leader Kim Jong-il raised fears about regional instability. Investors also picked up scandal-hit Olympus Co
Published 21 Dec, 2011 12:00am
Banks sink US stock market lower

Banks sink US stock market lower

Banks dragged the US stock market lower on Monday, with losses accelerating late after Bank of America's stock price fell below $5 for the first time in nearly three years. Warnings of deteriorating conditions in the eurozone and concerns about tougher ca
Published 21 Dec, 2011 12:00am
Longer-dated Treasuries gain

Longer-dated Treasuries gain

Longer-dated Treasuries prices gained on Monday as investors continued to flock to high quality debt ahead of year end, though intermediate dated notes underperformed after a new sale of two-year notes saw tepid demand. The Treasury sold $35 billion in tw
Published 21 Dec, 2011 12:00am
Longer-dated Treasuries gain

Longer-dated Treasuries gain

Longer-dated Treasuries prices gained on Monday as investors continued to flock to high quality debt ahead of year end, though intermediate dated notes underperformed after a new sale of two-year notes saw tepid demand. The Treasury sold $35 billion in tw
Published 21 Dec, 2011 12:00am
Southeast Asian markets mixed in thin holiday trade

Southeast Asian markets mixed in thin holiday trade

Southeast Asian stock markets were mixed with an easier bias on Tuesday as market players cashed in any quick gains and remained focused on risks attached to the unresolved sovereign debt crisis in the eurozone. Late selling pulled some markets down from
Published 21 Dec, 2011 12:00am
Hong Kong shares rise; Shanghai index falls

Hong Kong shares rise; Shanghai index falls

Hong Kong shares inched up 0.1 percent on Tuesday, with the benchmark index barely holding on to a gain at the end of a choppy day on which turnover slumped to its lowest in 2011. This trend is likely to continue into year's end with investors defensively
Published 21 Dec, 2011 12:00am
Seoul shares rise

Seoul shares rise

Seoul shares ended up 0.9 percent on Tuesday, posting a speedy recovery from sharp falls in the previous session on the sudden death of North Korean leader Kim Jong-il, with gains led by battered automakers and refiners. The Korea Composite Stock Price In
Published 21 Dec, 2011 12:00am
European shares advance

European shares advance

European shares advanced in thin Tuesday trade after a jump in US housing starts, a sharp rise in a key German business sentiment survey and a solid Spanish debt auction brightened investors' outlook on global economic prospects. Movements were exaggerate
Published 21 Dec, 2011 12:00am
German data, Spanish auction lift FTSE

German data, Spanish auction lift FTSE

Britain's top share index hit a one-week closing high on Tuesday, after a drop in Spain's borrowing costs and encouraging data from Germany overshadowed fears over Europe's debt crisis. Short-term financing costs for Spain more than halved as banks lapped
Published 21 Dec, 2011 12:00am
Sterling at 11-month high

Sterling at 11-month high

Investors flocked to buy the UK currency on Tuesday, sending it to an 11-month high against the euro, believing British assets to be a safe haven from the eurozone's festering debt crisis. Sterling also climbed versus the dollar after a sharp fall in Span
Published 21 Dec, 2011 12:00am
Euro moves up in Asia

Euro moves up in Asia

The euro inched up on Tuesday, but sentiment was fragile as efforts by policymakers to address the debt crisis are falling short of expectations and European Central Bank chief Mario Draghi has been dashing hopes of any aggressive support. The euro was up
Published 21 Dec, 2011 12:00am
Euro gets boost in London

Euro gets boost in London

A sharp fall in Spanish short-term borrowing costs boosted the euro on Tuesday albeit in thin trade, with fresh signs that the German economy is holding up in the teeth of the eurozone debt storm also supportive. But sentiment was fragile and investors we
Published 21 Dec, 2011 12:00am
Early trade in New York: Euro bolstered by German data

Early trade in New York: Euro bolstered by German data

The euro advanced against the US dollar on Tuesday, on pace for its largest one-day rise in three weeks, boosted by a successful Spanish debt auction and upbeat German business data. But sentiment was fragile and gains could fade. Investors looked to sell
Published 21 Dec, 2011 12:00am
Euro falls in New York

Euro falls in New York

The euro fell on Monday as European Central Bank President Mario Draghi stressed the risks to eurozone economic growth arising from the region's debt crisis and dampened hopes for more aggressive bond purchases that have helped keep yields under control.
Published 21 Dec, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 80.78-80.90 (previous 80.78-80.84). Call Money Rates: 20.00 percent (previous 14.00-22.00 percent).
Published 21 Dec, 2011 12:00am
Australian and New Zealand dollars edge off lows

Australian and New Zealand dollars edge off lows

The Australian and New Zealand dollars found a tentative footing on Tuesday, following recent steep declines on the dollar and yen, aided by less dovish than expected comments from Australia's central bank and firmer stocks in Asia. The Aussie dollar nudg
Published 21 Dec, 2011 12:00am
Indian rupee recoups losses

Indian rupee recoups losses

The Indian rupee reversed all intraday gains to close steady on Tuesday as traders pared some long-dollar positions after a central bank deputy said more steps would be taken, if needed, to bring stability to the domestic forex market. The rupee closed at
Published 21 Dec, 2011 12:00am
Won bounces; rupiah falls

Won bounces; rupiah falls

Asian currencies were mixed on Tuesday, with the South Korea won recouping much of the losses it suffered the previous day on news of North Korean leader Kim Jong-il's death, while the Indonesian rupiah fell. The won climbed 1.1 percent versus the dollar
Published 21 Dec, 2011 12:00am
Swiss franc lower

Swiss franc lower

The Swiss franc crept lower against the euro on Tuesday but remained close to Monday's seven-week high hit after European Central Bank chief Mario Draghi quelled hopes for aggressive eurozone bond buys, keeping the single currency under pressure. The fran
Published 21 Dec, 2011 12:00am
Yuan slightly down

Yuan slightly down

The yuan ended slightly down against the dollar on Tuesday after the People's Bank of China set a weaker mid-point, but the Chinese currency was mostly confined to a narrow range. Spot yuan ended at 6.3472 against the dollar, down slightly from 6.3378 on
Published 21 Dec, 2011 12:00am
Barca still a cut above in time of crisis for Liga

Barca still a cut above in time of crisis for Liga

Real Madrid and Barcelona will always be judged by how well they perform against each other, and in that regard a mere glance at the results of the year's seven Clasicos would suggest that not too much has changed in 12 months. Barcelona have been dominan
Published 21 Dec, 2011 12:00am
World Cup final referee Webb in Euro 2012 squad

World Cup final referee Webb in Euro 2012 squad

Howard Webb of England, who showed a record 14 yellow cards in last year's World Cup final between champions Spain and runners-up Netherlands, was named on Tuesday on a list of 12 referees for Euro 2012. The referees will be aided by goalline assistants i
Published 21 Dec, 2011 12:00am
London stadium's future to be settled before Games

London stadium's future to be settled before Games

The future of London's Olympic stadium should be settled before the Games next year after bidders were invited to apply again to use the venue following the collapse of a deal to sell it to soccer club West Ham United. The stadium in east London, which ha
Published 21 Dec, 2011 12:00am
No loan deal for Tevez, Mancini tells Milan again

No loan deal for Tevez, Mancini tells Milan again

Transfer talks between Manchester City and AC Milan over Carlos Tevez appear to be heading for stalemate after coach Roberto Mancini on Tuesday again ruled out loaning the Argentine striker to the Serie A side. Manchester City are expected to meet AC Mila
Published 21 Dec, 2011 12:00am
Pakistan eye sweep despite Shakib show

Pakistan eye sweep despite Shakib show

Umar Gul and Aizaz Cheema each took two wickets to boost Pakistan's chances of winning the second and final Test against Bangladesh on Tuesday despite Shakib Al Hasan's superb all-round display. The hosts were struggling at 114-5 in their second innings a
Published 21 Dec, 2011 12:00am
Inter House Sports activity opens in ICB

Inter House Sports activity opens in ICB

A four-day annual Inter House Sports activity was inaugurated Tuesday in Islamabad College for Boys (ICB) G-6, in which excited student actively participation. On the occasion, ICB Principal Professor Anwar Ali Khan emphasised the importance of nexus betw
Published 21 Dec, 2011 12:00am
Uncapped Alvitigala and Prasad join Test squad

Uncapped Alvitigala and Prasad join Test squad

Uncapped fast bowler Kanishka Alvitigala and seamer Dhammika Prasad have flown out to South Africa to join Sri Lanka's struggling Test team, officials said Tuesday. Sri Lanka, who were crushed in the first Test by an innings and 81 runs, had requested rep
Published 21 Dec, 2011 12:00am
Clock ticking for Ponting: coach

Clock ticking for Ponting: coach

Ricky Ponting's international future could be in doubt if he fails to make runs, regardless of the former captain's standing in the game, Australia coach Mickey Arthur has said. Australia play the first of a four-test series against India in Melbourne on
Published 21 Dec, 2011 12:00am
Uruguay coach Nunez dies

Uruguay coach Nunez dies

Hector "Pichon" Nunez, who coached Uruguay to the 1995 Copa America crown has died in Spain at the age of 75 after a long illness, press reports said here Tuesday. "Hector Nunez is no longer with us and it is a great loss for Uruguyan football," said star
Published 21 Dec, 2011 12:00am
Test hopefuls put hands up in Canberra tour match

Test hopefuls put hands up in Canberra tour match

Batsman Virat Kohli struck a commanding 132 against the Chairman's XI on the second day of India's tour match in Canberra to bolster his hopes of selection for the first test against Australia. Kohli drove India to a first innings total of 269 before the
Published 21 Dec, 2011 12:00am
Happy to play in Pakistan, says China's hockey team

Happy to play in Pakistan, says China's hockey team

China's hockey team leader on Tuesday said his players were delighted to be on tour in Pakistan and expressed hope they would pave the way for other international sportsmen to visit. The first foreign hockey team to tour the troubled country in seven year
Published 21 Dec, 2011 12:00am
Petition against Khosa adjourned

Petition against Khosa adjourned

The Lahore High Court here on Tuesday adjourned to January 16 the hearing of a petition seeking disqualification of Governor Sardar Latif Khan Khosa for his alleged involvement in political activities and misuse of government's funds as deputy attorney ge
Published 21 Dec, 2011 12:00am
Workshop on 'awareness and field test for diagnosis of rabies'

Workshop on 'awareness and field test for diagnosis of rabies'

Director General Extension Livestock Dairy Development Department Dr Muhammad Irfan Zahid said that 'rabies is a killer disease which is being caused by 90 per cent dog bite around the globe but it can be prevented through proper vaccination.
Published 21 Dec, 2011 12:00am
College construction case: proceedings adjourned

College construction case: proceedings adjourned

Lahore High Court here Tuesday turning down a Punjab government's request to vacate stay against construction of Government Muslim Degree College for Women Narowal on a private property adjourned the proceedings to January 23 next.
Published 21 Dec, 2011 12:00am
Gas leakage kills five of a family

Gas leakage kills five of a family

At least five members of a family were killed as a result of suffocation and burn injuries, caused due to gas leakage, district police said. The gas leakage occurred from a cylinder at the house of Muhammad Ilyas, which also erupted fire, police said. As
Published 21 Dec, 2011 12:00am
Sindh and Balochistan: 24-hour CNG shutdown begins today

Sindh and Balochistan: 24-hour CNG shutdown begins today

In view of the continuing gas shortage and as per the recent ECC decision, it has been decided to shutdown gas to the CNG stations in Karachi, interior Sindh and Balochistan for 24 hours from 9am on Wednesday (today) till 9am Thursday (tomorrow). This was
Published 21 Dec, 2011 12:00am
Work on SIDC, SBCC projects geared up

Work on SIDC, SBCC projects geared up

The pace of development work has been geared up on two mega projects in Sialkot, including Sports Industries Development Centre (SIDC) and Sialkot Business and Commerce Centre (SBCC), costing more than Rs 776 million. Official sources told Business Rec
Published 21 Dec, 2011 12:00am
Honour killing: 675 killed from January to September

Honour killing: 675 killed from January to September

At least 675 Pakistani women and girls were murdered during the first nine months of the year for allegedly defaming their family's honour, a leading human rights group said Tuesday. The statistics highlight the scale of violence suffered by many women in
Published 21 Dec, 2011 12:00am
Agriauto Industries

Agriauto Industries

Agriauto Industries is one of the leading auto component manufacturers of Pakistan. The Company was incorporated in 1981and it is a part of one of the leading business groups of Pakistan, the House of Habib. The Company over the years through technical co
Published 21 Dec, 2011 12:00am
Agriauto Industries

Agriauto Industries

Agriauto Industries is one of the leading auto component manufacturers of Pakistan. The Company was incorporated in 1981and it is a part of one of the leading business groups of Pakistan, the House of Habib. The Company over the years through technical co
Published 21 Dec, 2011 12:00am
Philippines buries its dead as flood toll tops 1,000

Philippines buries its dead as flood toll tops 1,000

Philippine authorities on Tuesday began burying the dead from flash floods that have left more than 1,000 dead or missing, as President Benigno Aquino declared a national disaster. Aquino flew to Mindanao island to inspect the ports of Cagayan de Oro and
Published 21 Dec, 2011 12:00am
Spanish parliament approves Rajoy as Prime Minister

Spanish parliament approves Rajoy as Prime Minister

Spanish lawmakers voted Tuesday to make conservative leader Mariano Rajoy the new prime minister, approving his programme of sweeping budget cuts and tough economic reforms. Facing urgent pressure to fix Spain's economy, with five million people unemploye
Published 21 Dec, 2011 12:00am
Japan selects troubled F-35 as new fighter jet

Japan selects troubled F-35 as new fighter jet

Japan on Tuesday chose the as-yet unproven F-35 stealth jet for its next-generation mainstay fighter, as North Korea provided a timely reminder of the region's potential for instability. In a deal worth around $4.7 billion, Japan plumped for the jet to re
Published 21 Dec, 2011 12:00am
Monitors to arrive in Syria on Thursday

Monitors to arrive in Syria on Thursday

The first Arab peace monitors will arrive in Syria this week, the Arab League chief said on Tuesday, after more than 100 people were killed in one of the bloodiest days of a revolt against President Bashar al-Assad. Security forces machine-gunned soldiers
Published 21 Dec, 2011 12:00am
Gulf states issue warnings to Syria, Iran

Gulf states issue warnings to Syria, Iran

Gulf Arab states on Tuesday urged Syria's government to immediately halt its "killing machine", and called on arch-rival Iran to stop interfering in their internal affairs. The six-nation Gulf Co-operation Council also pledged to implement comprehensive r
Published 21 Dec, 2011 12:00am
Chavez calls Obama a 'fraud'

Chavez calls Obama a 'fraud'

Venezuelan President Hugo Chavez, a long-time critic of the United States, had called US President Barack Obama a "fraud" who criticises Venezuela to get votes at home. "Now he is going around looking for votes by attacking Venezuela," Chavez told Venezue
Published 21 Dec, 2011 12:00am
Fierce clashes in Cairo; Clinton voices outrage

Fierce clashes in Cairo; Clinton voices outrage

Egyptian police and soldiers firing guns and teargas fought to clear protesters from Cairo's Tahrir Square on Tuesday, the fifth day of clashes that have killed 13 people and drawn a stinging rebuke from US Secretary of State Hillary Clinton. Clinton cond
Published 21 Dec, 2011 12:00am
Iran invites UN nuclear agency for talks

Iran invites UN nuclear agency for talks

Iran has invited the UN nuclear watchdog to visit for talks, an Iranian envoy told Reuters on Tuesday, suggesting Tehran would be prepared to address concerns about its atomic ambitions. Ambassador Ali Asghar Soltanieh said Iran earlier this month sent a
Published 21 Dec, 2011 12:00am
News Corp settles seven further hacking cases

News Corp settles seven further hacking cases

The British newspaper arm of News Corp said on Tuesday it had settled legal claims with a further seven people, including a former lover of Princess Diana and a former politician, after it admitted hacking into phones. News International said it had reach
Published 21 Dec, 2011 12:00am
Over 20 die in Nepal cold spell

Over 20 die in Nepal cold spell

More than 22 people have died during a cold wave in southern Nepal, local media reported Tuesday. In Mohattari district, 14 had died since Sunday, according to Avenues Television. Two hundred schools were closed in the district and the local hospital was
Published 21 Dec, 2011 12:00am
US 'obviously concerned' about Iraqi Hashemi probe

US 'obviously concerned' about Iraqi Hashemi probe

The White House on Tuesday voiced concern over an arrest warrant issued by Iraqi authorities for the country's Sunni Muslim Vice-President Tareq al-Hashemi and urged that the probe be conducted according to law. "We're obviously concerned about this," Whi
Published 21 Dec, 2011 12:00am
Southern Sudan rebel chief killed

Southern Sudan rebel chief killed

South Sudanese rebel chief George Athor has been killed in a clash with soldiers of the newly independent nation, Vice President Riek Machar said on Tuesday. One month after vowing to continue his battle against the Juba government, Athor died when a Sout
Published 21 Dec, 2011 12:00am
India's president calls for better maritime security

India's president calls for better maritime security

India's president on Tuesday stressed the need to improve maritime security, as the energy-hungry nation grows and ramps up offshore oil and gas exploration activity. Conducting only the 10th presidential fleet review since independence in 1947, Pratibha
Published 21 Dec, 2011 12:00am
Cameron does not want last-minute sharp fall in troops

Cameron does not want last-minute sharp fall in troops

British Prime Minister David Cameron, on a pre-Christmas visit to troops in Afghanistan, indicated on Tuesday he favoured a major British troop cut in 2013 and did not want to leave sharp reductions until near the end-2014 deadline for halting combat oper
Published 21 Dec, 2011 12:00am
New York cotton smidgen lower

New York cotton smidgen lower

Cotton futures closed with small losses on Tuesday on sales by small speculators in thin range-bound trade and the subdued tone in fibre contracts is seen persisting through the end of 2012 with many major players away for holidays, analysts said.
Published 21 Dec, 2011 12:00am
US copper slips

US copper slips

Copper slipped on Monday in thin trading as signs that the property market was cooling in top metals consumer China fed investor worry about the demand outlook for industrial metals. In New York, the most-active US copper futures contract, March, settled
Published 21 Dec, 2011 12:00am
Shanghai copper climbs

Shanghai copper climbs

The most-traded March copper contract on the Shanghai Futures Exchange climbed 0.3 percent to 53,740 yuan ($8,500) a tonne on Tuesday.
Published 21 Dec, 2011 12:00am
Copper moves up

Copper moves up

Copper rose on Tuesday near a one week high as a weaker dollar and better-than-expected German business sentiment temporarily overshadowed longstanding worries that policymakers' efforts to address the eurozone debt crisis are inadequate. Also boosting co
Published 21 Dec, 2011 12:00am
Oil soars over three percent

Oil soars over three percent

Oil prices rose on Tuesday, with US crude posting the biggest percentage rise since late October, on supportive economic data that also lifted the euro and equities, coupled with worries about potential supply disruptions in Iran and Kazakhstan.US stocks
Published 21 Dec, 2011 12:00am
Tokyo rubber up; global demand to rise

Tokyo rubber up; global demand to rise

Tokyo rubber futures rose modestly on Tuesday, supported by firm oil prices, but concern about Europe's debt crisis weighed on the market, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery rose 4.5 yen, or 1.7 pe
Published 21 Dec, 2011 12:00am
Palm oil flat

Palm oil flat

Malaysian crude palm oil futures ended flat on Tuesday as traders were divided between lower export demand and expectations of heavy rains disrupting output in south-east Asia. Palm oil is however set to see a 21 percent decline in 2011, weighed down by a
Published 21 Dec, 2011 12:00am
Corn and soya climb to multi-week highs

Corn and soya climb to multi-week highs

Corn and soyabeans rose to multi-week highs Monday as South American weather threatened to cut yield potential. Wheat also gained on spillover support from corn, as grains shrugged off pressure from weaker equities and the resurfacing of worries about the
Published 21 Dec, 2011 12:00am
Soft commodities march higher

Soft commodities march higher

Soft commodity futures marched higher across the board on Tuesday, with cocoa up around 5 percent, helped by a weak dollar and stronger equities although trading volumes ebbed due to the looming year-end holidays, brokers said. Analysts described the move
Published 21 Dec, 2011 12:00am
US gold eases

US gold eases

Gold prices eased on Monday as concerns that the European debt crisis will hurt global growth kept the euro under pressure, but prices are expected to remain rangebound, with liquidity tightening as money managers close their books for the year. Spot gold
Published 21 Dec, 2011 12:00am
Gold tests $1,600 in Asia

Gold tests $1,600 in Asia

Spot gold struggled to breach $1,600 an ounce on Tuesday, as investors remained nervous over the progress of the eurozone's efforts to rein in its debt crisis, while resilient physical buying interest supported prices. Spot gold edged up 0.4 percent to $1
Published 21 Dec, 2011 12:00am
Gold climbs in London

Gold climbs in London

Gold prices rose to their highest in nearly a week on Tuesday as the euro rallied 1 percent versus the dollar, with rising stock markets pointing to a sharper appetite for assets seen as higher risk at the US currency's expense. Spot gold was up 1.3 perce
Published 21 Dec, 2011 12:00am
US MIDDAY: grains rise

US MIDDAY: grains rise

Grains rose to fresh multi-week highs early on Tuesday, as encouraging economic signs from Europe improved investor sentiment, while dry conditions threatened South American corn and soya yields. The grains extended overnight gains and got support from a
Published 21 Dec, 2011 12:00am
US MIDDAY: gold climbs

US MIDDAY: gold climbs

Gold prices rose to their highest in nearly a week Tuesday as the euro rallied 1 percent versus the dollar, but volume was light and short-term traders were unwilling to take big risks before year end. Commodities rose generally along with stock markets a
Published 21 Dec, 2011 12:00am
Tuberculosis control programme: Fata Secretariat gets 10 vehicles

Tuberculosis control programme: Fata Secretariat gets 10 vehicles

KFW Develop-ment Bank with assistance of German government on Tuesday donated 10 vehicles to Fata Secretariat for strengthening of monitoring and supervision of TB control programme, as a component of Fata basic health programme.
Published 21 Dec, 2011 12:00am
Pakistan compelled to downgrade growth estimates: World Bank report

Pakistan compelled to downgrade growth estimates: World Bank report

Pakistan has been compelled to downgrade its earlier 4.5 percent growth estimates to 3.5 percent to 3.6 percent. According to the World Bank's recent report, titled 'Country Partnership Strategy FY2010-2013', in the presence of IMF program, Pakistan may h
Published 21 Dec, 2011 12:00am
Pakistan compelled to downgrade growth estimates: World Bank report

Pakistan compelled to downgrade growth estimates: World Bank report

Pakistan has been compelled to downgrade its earlier 4.5 percent growth estimates to 3.5 percent to 3.6 percent. According to the World Bank's recent report, titled 'Country Partnership Strategy FY2010-2013', in the presence of IMF program, Pakistan may h
Published 21 Dec, 2011 12:00am
Two women shot dead

Two women shot dead

A youth shot dead two female cousins over domestic issues here at the Satellite Town area of the provincial metropolis, police official Afzal told newsmen Tuesday. The youth, identified as Abdullah, opened fire at his two female cousins; one of them was s
Published 21 Dec, 2011 12:00am
Two held in rape, murder case

Two held in rape, murder case

Sindh police on Tuesday claimed to have arrested two persons who were charged with the crime of gang rape and murder of 14-year-old girl in the limits of Joharabad police station. According to SSP Central, Asim Khaimkhani, the victim, Alishba, 14, was kid
Published 21 Dec, 2011 12:00am
Relative of SHC Chief Justice recovered, two kidnappers arrested

Relative of SHC Chief Justice recovered, two kidnappers arrested

Citizen Police Liaison Committee (CPLC) and Anti Violent Crime Cell (AVCC) on Tuesday claimed to have recovered a relative of Chief Justice of Sindh High Court from Ghotki. According to police, the victim Mohammad Faizan, 17, s/o Ishtiaque, was kidnapped
Published 21 Dec, 2011 12:00am
Rs 300 billion development spending unlikely this year

Rs 300 billion development spending unlikely this year

The Planning Commission is unlikely to ensure Rs 300 billion development spending, allocated in the budget for the current fiscal year, due to severe challenges on the fiscal side. A Finance Ministry official said that the government would disburse Rs 100
Published 21 Dec, 2011 12:00am
NBP's 1000th branch goes online

NBP's 1000th branch goes online

National Bank of Pakistan (NBP) has converted its 1000 branches online out of its countrywide network of 1270 branches. According to NBP here on Tuesday, bank's IT division was able to meet this uphill task in a short span of eight months, a target given
Published 21 Dec, 2011 12:00am
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