Pakistan Muslim League-N president, Mian Nawaz Sharif has called consultative meeting of his party leaders at his Raiwind residence on Wednesday (today). Sources said the meeting would discuss the situation arising out of the verdict of a five-member benc
Pakistan Muslim League-N president, Mian Nawaz Sharif has called consultative meeting of his party leaders at his Raiwind residence on Wednesday (today). Sources said the meeting would discuss the situation arising out of the verdict of a five-member benc
Prime Minister Yousaf Raza Gilani is to take his Cabinet colleagues into confidence on Wednesday on the order of special five-member bench of the Supreme Court, headed by Justice Asif Khosa, sources told Business Recorder.
Prime Minister Yousaf Raza Gilani is to take his Cabinet colleagues into confidence on Wednesday on the order of special five-member bench of the Supreme Court, headed by Justice Asif Khosa, sources told Business Recorder.
The purported agreement made with the then military dictator General Pervez Musharraf, which led Nawaz Sharif to go into exile, was made public on Tuesday by federal minister for interior Minister Rehman Malik. The agreement surfaced at a time when Suprem
The purported agreement made with the then military dictator General Pervez Musharraf, which led Nawaz Sharif to go into exile, was made public on Tuesday by federal minister for interior Minister Rehman Malik. The agreement surfaced at a time when Suprem
Prime Minister Syed Yousuf Raza Gilani said that NRO was in the thick of discussions these days but NROs had been the order of the day in the past, which were named as plea bargains, adding that going abroad under a deal was also NRO.
Prime Minister Syed Yousuf Raza Gilani said that NRO was in the thick of discussions these days but NROs had been the order of the day in the past, which were named as plea bargains, adding that going abroad under a deal was also NRO.
Ministry of Foreign Affairs has directed Pakistan embassies in London and Bern to issue visa to the American businessman Mansoor Ijaz, who is the main character in the 'memgate' scandal. According to sources, the directives have been issued on the orders
Ministry of Foreign Affairs has directed Pakistan embassies in London and Bern to issue visa to the American businessman Mansoor Ijaz, who is the main character in the 'memgate' scandal. According to sources, the directives have been issued on the orders
A National Assembly session will be held on January 12 to discuss the situation arising out of Supreme Court's strong criticism of non-implementation of SC verdict on NRO by the government. Co-chairman PPP President Asif Ali Zardari and Prime Minister Sye
A National Assembly session will be held on January 12 to discuss the situation arising out of Supreme Court's strong criticism of non-implementation of SC verdict on NRO by the government. Co-chairman PPP President Asif Ali Zardari and Prime Minister Sye
The Supreme Court on Tuesday warned Prime Minister Yousuf Raza Gilani he could be removed from office if he doesn't take action against long standing corruption cases against President Asif Ali Zardari and others.
The Supreme Court on Tuesday warned Prime Minister Yousuf Raza Gilani he could be removed from office if he doesn't take action against long standing corruption cases against President Asif Ali Zardari and others.
Veteran politician Pir Pagara died in a London hospital on Tuesday. He was born in 1928 at his native village - Pir Jo Goth. Supreme leader of his own faction of PML, PML-F, Pagara led a very active life in politics. He played a key role in the anti-Zulfi
Veteran politician Pir Pagara died in a London hospital on Tuesday. He was born in 1928 at his native village - Pir Jo Goth. Supreme leader of his own faction of PML, PML-F, Pagara led a very active life in politics. He played a key role in the anti-Zulfi
A US drone attack targeting a militant compound in Pakistan's tribal area near the Afghan border killed four militants late Tuesday, security officials said. Two missiles hit a compound on the outer skirts of Miranshah, in the North Waziristan region, kil
A US drone attack targeting a militant compound in Pakistan's tribal area near the Afghan border killed four militants late Tuesday, security officials said. Two missiles hit a compound on the outer skirts of Miranshah, in the North Waziristan region, kil
The State Bank of Pakistan (SBP) has taken action against two banks by reducing Net Open Position (NOP) and warning other banks not to take unnecessary position against the rupee, as a result the rupee strengthened by 70 paisa against dollar in interbank
The State Bank of Pakistan (SBP) has taken action against two banks by reducing Net Open Position (NOP) and warning other banks not to take unnecessary position against the rupee, as a result the rupee strengthened by 70 paisa against dollar in interbank
The State Bank of Pakistan (SBP) has taken action against two banks by reducing Net Open Position (NOP) and warning other banks not to take unnecessary position against the rupee, as a result the rupee strengthened by 70 paisa against dollar in interbank
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Brazil on Tuesday raised its forecast for the size of this year's soyabean crop after seeing a larger total planted area than in previous months, but warned that drought conditions which have raised the specter of production shortfalls have not been fully
Ukraine's grain harvest is likely to fall to 44.7 million tonnes in 2012 from 48.5 million tonnes in 2011 due to a poor wheat crop, analyst UkrAgroConsult said on Tuesday. The Farm Ministry said last month a third of Ukraine's winter grain crops were in p
India imported 21,734 tonnes of natural rubber in December, up 57 percent on year, state-run Rubber Board said, and traders expect the robust pace to continue as tyre makers resort to cheaper imports to make good a likely decline in domestic output.
A poor rapeseed harvest looming in India could its edible oil import requirements in coming months and add support to global vegetable oil prices at a time of concern about drought damage to South American soybean harvests, Hamburg-based oilseeds analysts
The Karachi Port handled 61,498 tonnes of cargo comprising 22,579 tonnes of import cargo and 38,919 tonnes of export cargo including 2,077 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 22,579 tonn
European wheat futures edged lower on Tuesday, following weaker US grains markets and pressured by forecasts of rain showers in drought-hit Argentina this week although the impact of these was still difficult to assess, traders said. By 1312 GMT, the benc
Prices were lower on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The January contract that had ended at Rs 1162.20 commenced with sharp loss of Rs 2.00 at Rs 1160.00. The new March vaida which closed at 773.70 ope
Improved activity was seen on the cotton market on Tuesday as both mills and exporters indulged in forward buying despite higher asking prices, dealers said. The official spot rate was again raised by Rs 50 to Rs 5,600, they said. Prices of seedcotton in
Tea prices in Bangladesh were steady on Tuesday at a weekly auction following sharp rises in the previous week because of demand for quality tea, while the volume sold was down due to the poor quality offered, brokers said. The average price of Bangladesh
A few changes were seen on the wholesale grain market on Tuesday in process of trading, dealers said. On the rice sector Irri-6 Sindh low type gained Rs 20 to Rs 3040-3100, other items maintained overnight levels, they said. On the cereal side Khandsari w
The French economy stalled in the final quarter of 2011, a central bank survey said, but industry output jumped unexpectedly in November and analysts said this was a sign of resilience to the eurozone debt crisis. The Bank of France said a monthly survey
Japan's disgraced Olympus Corp is suing its president and 18 other executives, past and present, for up to $47 million in compensation, as it struggles to recover from one of the nation's worst accounting scandals.
Britain's economy risks contraction in the first half of 2012 and better-than-expected retail sales over Christmas are unlikely to offer much respite, as shoppers were only lured by margin-eroding discounts, business leaders warned on Tuesday. A survey fr
India formally eliminated restrictions on foreign investment in its single-brand retail sector on Tuesday, opening the door to the likes of Swedish furniture giant IKEA to open stores in Asia's third-largest economy. Foreign retailers that want to invest
The Bank of Japan on Tuesday supplied more dollars than it has done since it reinstated its dollar-funding operation in 2010, in a sign of persistent concerns about Europe's debt crisis. The central bank supplied $12.556 billion in an operation expiring i
China's copper imports hit a record high in December as arbitrage and financing opportunities burnished the metal's appeal, but imports may be weaker from now to June as the Lunar New Year holidays and slower manufacturing weaken demand. China is the worl
The Federal Reserve will do all it can to support a "notably weak" US economic recovery and bring unemployment down from its "shockingly" high level, a top Fed official said on Tuesday. Although he did not call for any specific new action by the central b
Canadian housing starts climbed more than expected in December, fuelled by low mortgage rates and an ongoing boom in condo construction, even as analysts predicted the once-hot sector would cool further in 2012. Housing starts rose to a seasonally adjuste
Machinery maker Shandong Heavy Industry Group has sealed a deal to take a 75 percent stake in debt-laden Italian luxury yacht maker Ferretti, the latest in a series of Chinese acquisitions of European brands. Chinese companies, acquiring top brands as a s
The number of US jobs waiting to be filled was little changed in November, suggesting the labour market remained stable that month. There were 3.16 million available jobs at the end of November, down slightly from October's downwardly revised 3.22 million
US consumer credit surged 10 percent in November, its biggest jump in a decade in a positive signal for the economy as consumers tapped their credit cards and the government doled out more student loans. Outstanding consumer credit increased by $20.37 bil
Egypt's index gained 2.4 percent on Tuesday as foreign investors returned, betting the market could only gain following a disastrous 2011, while Qatar National Bank (QNB) weighed on Doha's index after its dividend disappointed. All but five stocks on Egyp
Seoul shares rose on Tuesday, breaking a three-session losing streak as investors relished the prospects of stimulus by Chinese policymakers following lacklustre trade data and hints of policy easing. "Shanghai shares rallied on hopes of policy easing in
The Nikkei share average edged up on Tuesday after revenue at US aluminium giant Alcoa beat expectations, while Olympus jumped 20 percent on reports it would remain listed, but the benchmark remained stuck below key resistance ahead of events in Europe. T
US stocks hit a five-month high on Tuesday after strong import data from major metals consumer China and a bullish forecast by Alcoa boosted the outlook for commodities companies and pointed to a stronger global economy. "The general economy, outside of t
US stocks ended slightly higher on Monday in a light-volume session as investors stayed cautious ahead of corporate earnings and key auctions for European debt this week. Alcoa Inc, the largest US aluminium producer, rose 3 percent to $9.43 before announc
Taiwan stocks rose 1.21 percent to their highest close in over two months and the local currency rallied on Tuesday, joining regional bourses in gains, with safe bets such as AU Optronics up before the presidential vote this Saturday. The main TAIEX index
Medium-term Treasuries ended barely higher on Monday, while long-dated US debt came under a bit of pressure from profit-taking and price cuts before supply. The Treasury will sell 10-year notes on Wednesday and 30-year bonds on Thursday. Prices of medium-
Medium-term Treasuries ended barely higher on Monday, while long-dated US debt came under a bit of pressure from profit-taking and price cuts before supply. The Treasury will sell 10-year notes on Wednesday and 30-year bonds on Thursday. Prices of medium-
Indian shares rallied 2.2 percent on Tuesday to their highest close in a month, on expectations easing inflation pressure will pave the way for the central bank to begin unwinding tight monetary policy this month. Financials such as ICICI Bank and State B
Southeast Asian stock markets pushed higher on Tuesday as a strong oil market attracted broad-based buying in commodities-related stocks and volume picked up, although continuing concern over eurozone sovereign debt kept foreign inflows in check.
Philippi
Weaker-than-expected Chinese trade data on Tuesday accelerated share-price gains in Shanghai and Hong Kong by boosting hopes that Beijing will relax monetary policy to counter a slowdown in the world's second-largest economy. The Shanghai Composite Index
European shares hit a one-week closing high on Tuesday as encouraging comments from some leading US companies and hopes for more policy easing in China gave cyclical stocks a boost, with autos and miners among the top sectoral gainers. General Motors and
Commodity stocks led Britain's top share index higher on Tuesday, after Alcoa kicked off the US earnings season with an upbeat outlook and data from China lifted sentiment, while retailers rallied after some encouraging updates. London's blue chip index r
Eurozone banks cut their weekly borrowing from the European Central Bank by 20 billion euros on Tuesday, but the huge cash surplus providing life-support to the banking sector looks set to remain over the long term. Banks' need for short-term loans typica
Sterling hovered near a 16-month high against the euro on Tuesday, clawing back from early losses, as speculation the eurozone debt crisis will deepen kept sentiment negative towards the single currency. The pound clung to slight gains versus a broadly st
The euro held its ground in Asia on Tuesday but faces pressure later this week ahead of Italian and Spanish debt auctions. The single currency stood at $1.2767 after an overnight bounce off a 16-month low of $1.2666. It climbed to a session high of $1.279
The euro edged higher on Tuesday after hitting a 16-month low to the dollar the previous day as investors took some profit on short positions, but its gains were limited by strong interest in selling into the rally and by debt auction risks this week. The
The euro rose a second day against the dollar on Tuesday, retreating from a recent 16-month low as risk appetite improved ahead of a European Central Bank policy meeting and crucial debt auctions from two of the region's larger economies. With euro net sh
The euro rallied from a 16-month low against the dollar on Monday as market participants pared bearish bets on the single currency ahead of key European events this week although investors remained overwhelmingly negative due to sovereign debt concerns.
Interbank buy/sell rates for the taka against the dollar on Tuesday. 82.95-82.99 (previous 82.78-82.90). Call Money Rates: 20.00 percent (previous 10.00-22.00 percent).
The Aussie and New Zealand dollars scaled fresh highs against the euro on Tuesday and powered up on the greenback, helped in part by benign Chinese trade data. The euro was struggling at A$1.2400, late in the day, having shed eight cents in just a month.
The Indian rupee surged to its highest level in more than a month on Tuesday on the back of a sharp rally in shares, dollar sales by exporters and foreign inflows into government debt. The market also appeared to take comfort from a reiteration by the Fin
The South Korean won and the Taiwan dollar firmed on Tuesday, leading gains in most emerging Asian currencies as investors hoped for more inflows to the region, but the mood remained cautious as the eurozone's debt crisis showed few signs of easing. The T
The Swiss franc was flat against the dollar on Tuesday and upward pressure on the franc-euro remained limited despite Monday's shock resignation of Swiss National Bank Chairman Philipp Hildebrand. Traders said the franc's initial push higher against the e
The yuan held steady on Tuesday after the central bank set a stronger mid-point, sending a strong signal that global movements in the dollar will be the dominant factor in guiding the yuan's value in the near term. The dollar traded slightly weaker overni
The elections of Pakistan Olympic Association are scheduled to be held in February and different candidates have started their campaign to muster support of different sports organisations in this regard.
Pakistan Football Federation is organising National U-14 Football Festival-2012 at Jinnah Football Stadium, Islamabad from February 3 to 15, 2012. As many as 16 football teams ie one team from each province, region and eight teams of Aid 27 coaches are ta
Bangladesh Cricket Board (BCB) chief executive officer Manzur Ahmed has died of a heart attack at the age of 57, his family and the board confirmed on Tuesday. "We deeply regret to inform you that our chief executive officer died of a cardiac arrest this
World number one Caroline Wozniacki and her chief rankings rival Petra Kvitova had demanding three-set introductions to the Sydney International in their first official matches of the season on Tuesday. Wozniacki and Kvitova, tuning up for next week's Aus
AB de Villiers takes on a new challenge when he captains South Africa in the first one-day international against Sri Lanka at Boland Park on Wednesday. De Villiers was appointed captain of South Africa's one-day and Twenty20 teams when Gary Kirsten was na
Pakistan cricket chief Zaka Ashraf Tuesday said paceman Mohammad Aamer can be considered for national selection after he has served the ban handed to him in a 2010 spot-fixing case. The 19-year-old is serving a six-month jail term in England over a spot-f