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Print - 2012-01-29
'Balanced oil market important for Saudi Arabia'

'Balanced oil market important for Saudi Arabia'

Having a balanced oil market is important for Saudi Arabia, the world's largest producer and exporter, the kingdom's Foreign Minister Prince Saud al-Faisal said on Saturday, amid mounting uncertainty over Iranian oil supplies due to sanctions. Responding
Published 29 Jan, 2012 12:00am
'Balanced oil market important for Saudi Arabia'

'Balanced oil market important for Saudi Arabia'

Having a balanced oil market is important for Saudi Arabia, the world's largest producer and exporter, the kingdom's Foreign Minister Prince Saud al-Faisal said on Saturday, amid mounting uncertainty over Iranian oil supplies due to sanctions. Responding
Published 29 Jan, 2012 12:00am
PSM raw material ship detention: Pakistan suffered Rs 900 million loss

PSM raw material ship detention: Pakistan suffered Rs 900 million loss

Pakistan reportedly suffered Rs 900 million financial loss due to the deliberately detained shipping of raw material for Pakistan Steel Mills (PSM) in Canada by Indian company Fomento some months ago. This is the crux of the discussion in the Board of Dir
Published 29 Jan, 2012 12:00am
PSM raw material ship detention: Pakistan suffered Rs 900 million loss

PSM raw material ship detention: Pakistan suffered Rs 900 million loss

Pakistan reportedly suffered Rs 900 million financial loss due to the deliberately detained shipping of raw material for Pakistan Steel Mills (PSM) in Canada by Indian company Fomento some months ago. This is the crux of the discussion in the Board of Dir
Published 29 Jan, 2012 12:00am
PSM raw material ship detention: Pakistan suffered Rs 900 million loss

PSM raw material ship detention: Pakistan suffered Rs 900 million loss

Pakistan reportedly suffered Rs 900 million financial loss due to the deliberately detained shipping of raw material for Pakistan Steel Mills (PSM) in Canada by Indian company Fomento some months ago. This is the crux of the discussion in the Board of Dir
Published 29 Jan, 2012 12:00am
IMF leads global push for eurozone to boost firewall

IMF leads global push for eurozone to boost firewall

International Monetary Fund chief Christine Lagarde led a global push on Saturday for the euro zone to boost its financial firewall, saying "if it is big enough it will not get used". Lagarde, supported by the British finance minister, George Osborne, sai
Published 29 Jan, 2012 12:00am
IMF leads global push for eurozone to boost firewall

IMF leads global push for eurozone to boost firewall

International Monetary Fund chief Christine Lagarde led a global push on Saturday for the euro zone to boost its financial firewall, saying "if it is big enough it will not get used". Lagarde, supported by the British finance minister, George Osborne, sai
Published 29 Jan, 2012 12:00am
IMF leads global push for eurozone to boost firewall

IMF leads global push for eurozone to boost firewall

International Monetary Fund chief Christine Lagarde led a global push on Saturday for the euro zone to boost its financial firewall, saying "if it is big enough it will not get used". Lagarde, supported by the British finance minister, George Osborne, sai
Published 29 Jan, 2012 12:00am
4.7 percent fiscal deficit target a challenging issue

4.7 percent fiscal deficit target a challenging issue

The State Bank has said that achievement of fiscal deficit target of 4.7 percent of GDP will be challenging for the government because it depends on strong growth in tax revenue and auction of 3G licences. According to SBP''''s first quarterly report, the
Published 29 Jan, 2012 12:00am
4.7 percent fiscal deficit target a challenging issue

4.7 percent fiscal deficit target a challenging issue

The State Bank has said that achievement of fiscal deficit target of 4.7 percent of GDP will be challenging for the government because it depends on strong growth in tax revenue and auction of 3G licences. According to SBP''s first quarterly report, the b
Published 29 Jan, 2012 12:00am
4.7 percent fiscal deficit target a challenging issue

4.7 percent fiscal deficit target a challenging issue

The State Bank has said that achievement of fiscal deficit target of 4.7 percent of GDP will be challenging for the government because it depends on strong growth in tax revenue and auction of 3G licences. According to SBP's first quarterly report, the bu
Published 29 Jan, 2012 12:00am
4.7 percent fiscal deficit target a challenging issue

4.7 percent fiscal deficit target a challenging issue

The State Bank has said that achievement of fiscal deficit target of 4.7 percent of GDP will be challenging for the government because it depends on strong growth in tax revenue and auction of 3G licences. According to SBP's first quarterly report, the bu
Published 29 Jan, 2012 12:00am
4.2 percent GDP growth rate target looks difficult

4.2 percent GDP growth rate target looks difficult

The State Bank of Pakistan (SBP) has said that realising the 4.2 percent growth target for FY12 GDP looks difficult due to a host of factors that include, among others, gas shortages, high oil prices and decline in global prices of agricultural commoditie
Published 29 Jan, 2012 12:00am
4.2 percent GDP growth rate target looks difficult

4.2 percent GDP growth rate target looks difficult

The State Bank of Pakistan (SBP) has said that realising the 4.2 percent growth target for FY12 GDP looks difficult due to a host of factors that include, among others, gas shortages, high oil prices and decline in global prices of agricultural commoditie
Published 29 Jan, 2012 12:00am
4.2 percent GDP growth rate target looks difficult

4.2 percent GDP growth rate target looks difficult

The State Bank of Pakistan (SBP) has said that realising the 4.2 percent growth target for FY12 GDP looks difficult due to a host of factors that include, among others, gas shortages, high oil prices and decline in global prices of agricultural commoditie
Published 29 Jan, 2012 12:00am
4.2 percent GDP growth rate target looks difficult

4.2 percent GDP growth rate target looks difficult

The State Bank of Pakistan (SBP) has said that realising the 4.2 percent growth target for FY12 GDP looks difficult due to a host of factors that include, among others, gas shortages, high oil prices and decline in global prices of agricultural commoditie
Published 29 Jan, 2012 12:00am
Revenue collection linked with CSF, sale of 3G licences

Revenue collection linked with CSF, sale of 3G licences

The State Bank of Pakistan has said that achievement of revenue targets depends on realisation of CSF and sale of 3G licences. The State Bank''s first quarterly report said that reduction in the budget deficit was caused primarily by 29.7 percent growth i
Published 29 Jan, 2012 12:00am
Revenue collection linked with CSF, sale of 3G licences

Revenue collection linked with CSF, sale of 3G licences

The State Bank of Pakistan has said that achievement of revenue targets depends on realisation of CSF and sale of 3G licences. The State Bank's first quarterly report said that reduction in the budget deficit was caused primarily by 29.7 percent growth in
Published 29 Jan, 2012 12:00am
Revenue collection linked with CSF, sale of 3G licences

Revenue collection linked with CSF, sale of 3G licences

The State Bank of Pakistan has said that achievement of revenue targets depends on realisation of CSF and sale of 3G licences. The State Bank's first quarterly report said that reduction in the budget deficit was caused primarily by 29.7 percent growth in
Published 29 Jan, 2012 12:00am
Inflation likely to fall to 12 percent

Inflation likely to fall to 12 percent

Food inflation has receded significantly and is the major contributor towards the slowdown in CPI inflation, SBP said in its first quarterly report. According to the report the headline inflation number has been edging down consistently and core inflation
Published 29 Jan, 2012 12:00am
Inflation likely to fall to 12 percent

Inflation likely to fall to 12 percent

Food inflation has receded significantly and is the major contributor towards the slowdown in CPI inflation, SBP said in its first quarterly report. According to the report the headline inflation number has been edging down consistently and core inflation
Published 29 Jan, 2012 12:00am
Inflation likely to fall to 12 percent

Inflation likely to fall to 12 percent

Food inflation has receded significantly and is the major contributor towards the slowdown in CPI inflation, SBP said in its first quarterly report. According to the report the headline inflation number has been edging down consistently and core inflation
Published 29 Jan, 2012 12:00am
Sharp deterioration in external account

Sharp deterioration in external account

A sharp deterioration in the external account position has been witnessed during the first five months of FY12, compared to the previous year. According to SBP''s first quarterly report, deterioration in the trade account is likely to get worse in the com
Published 29 Jan, 2012 12:00am
Sharp deterioration in external account

Sharp deterioration in external account

A sharp deterioration in the external account position has been witnessed during the first five months of FY12, compared to the previous year. According to SBP's first quarterly report, deterioration in the trade account is likely to get worse in the comi
Published 29 Jan, 2012 12:00am
Sharp deterioration in external account

Sharp deterioration in external account

A sharp deterioration in the external account position has been witnessed during the first five months of FY12, compared to the previous year. According to SBP's first quarterly report, deterioration in the trade account is likely to get worse in the comi
Published 29 Jan, 2012 12:00am
SBP fears decline in farm incomes

SBP fears decline in farm incomes

The State Bank of Pakistan fears that farm incomes would decline this year which could have negative implications for the manufacturing sector, particularly for the consumer durable industry The central bank issued its first quarterly report on the state
Published 29 Jan, 2012 12:00am
SBP fears decline in farm incomes

SBP fears decline in farm incomes

The State Bank of Pakistan fears that farm incomes would decline this year which could have negative implications for the manufacturing sector, particularly for the consumer durable industry The central bank issued its first quarterly report on the state
Published 29 Jan, 2012 12:00am
SBP fears decline in farm incomes

SBP fears decline in farm incomes

The State Bank of Pakistan fears that farm incomes would decline this year which could have negative implications for the manufacturing sector, particularly for the consumer durable industry The central bank issued its first quarterly report on the state
Published 29 Jan, 2012 12:00am
Panetta still believes 'somebody' knew of Bin Laden hideout

Panetta still believes 'somebody' knew of Bin Laden hideout

US Defence Secretary Leon Panetta still believes someone in authority in Pakistan knew where Osama bin Laden was hiding before US forces went in to find him, he said in a TV interview to air Sunday. Intelligence reports found Pakistani military helicopter
Published 29 Jan, 2012 12:00am
Panetta still believes 'somebody' knew of Bin Laden hideout

Panetta still believes 'somebody' knew of Bin Laden hideout

US Defence Secretary Leon Panetta still believes someone in authority in Pakistan knew where Osama bin Laden was hiding before US forces went in to find him, he said in a TV interview to air Sunday. Intelligence reports found Pakistani military helicopter
Published 29 Jan, 2012 12:00am
Karzai, Cameron sign agreement on future of Afghanistan

Karzai, Cameron sign agreement on future of Afghanistan

Afghan President Hamid Karzai and British Prime Minister David Cameron on Saturday signed an agreement on the future of Afghanistan aimed at bringing stability to the country after the withdrawal of international troops in 2014.
Published 29 Jan, 2012 12:00am
Karzai, Cameron sign agreement on future of Afghanistan

Karzai, Cameron sign agreement on future of Afghanistan

Afghan President Hamid Karzai and British Prime Minister David Cameron on Saturday signed an agreement on the future of Afghanistan aimed at bringing stability to the country after the withdrawal of international troops in 2014.
Published 29 Jan, 2012 12:00am
Arab League suspends Syria mission as violence rages

Arab League suspends Syria mission as violence rages

The Arab League said on Saturday it had suspended its monitoring mission in Syria because of "the critical deterioration of the situation" as state security forces battled rebels holding three suburbs just outside Damascus. The Arab League called last wee
Published 29 Jan, 2012 12:00am
Arab League suspends Syria mission as violence rages

Arab League suspends Syria mission as violence rages

The Arab League said on Saturday it had suspended its monitoring mission in Syria because of "the critical deterioration of the situation" as state security forces battled rebels holding three suburbs just outside Damascus. The Arab League called last wee
Published 29 Jan, 2012 12:00am
Swiss urge US tax deal to shield other banks

Swiss urge US tax deal to shield other banks

The break-up of Switzerland''s oldest bank Wegelin on Friday shows the need to settle a dispute with US authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday. "It is very regrettable," Eveline Widmer-Schlu
Published 29 Jan, 2012 12:00am
Swiss urge US tax deal to shield other banks

Swiss urge US tax deal to shield other banks

The break-up of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with US authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday. "It is very regrettable," Eveline Widmer-Schlum
Published 29 Jan, 2012 12:00am
Swiss urge US tax deal to shield other banks

Swiss urge US tax deal to shield other banks

The break-up of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with US authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday. "It is very regrettable," Eveline Widmer-Schlum
Published 29 Jan, 2012 12:00am
Your rupee last year

Your rupee last year

Following currency fluctuations took place in foreign exchange rates during the last year. (January 03 to December 30, 2011).

Published 29 Jan, 2012 12:00am
The Weather

The Weather

The weather report on Saturday (January 28, 2012) and the forecast for Sunday (January 29, 2012).

Published 29 Jan, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
THE RUPEE: dollar a bit low

THE RUPEE: dollar a bit low

The rupee moved up slightly against dollar on Saturday in process of trading, dealers said. The rupee gained five paisa in relation the dollar for buying and selling at 90.20 and 90.40, they said. The rupee, however, fell against euro, losing 83 paisa for
Published 29 Jan, 2012 12:00am
THE RUPEE: dollar a bit low

THE RUPEE: dollar a bit low

The rupee moved up slightly against dollar on Saturday in process of trading, dealers said. The rupee gained five paisa in relation the dollar for buying and selling at 90.20 and 90.40, they said. The rupee, however, fell against euro, losing 83 paisa for
Published 29 Jan, 2012 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (January 28, 2012).

Published 29 Jan, 2012 12:00am
Asia's naphtha price highest in about two weeks

Asia's naphtha price highest in about two weeks

Asia's naphtha price and intermonth spreads were at their highest in about two weeks on Thursday. Cracks rose to an 8-1/2 month high as tighter supplies in Europe were expected to impact the East, which is structurally short of the light fuel, traders sai
Published 29 Jan, 2012 12:00am
Oil cake market rates

Oil cake market rates

Mixed pattern were seen on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The March vaida that had closed at 773.50 and opened with a decline of 50 paisa at Rs 773.00. The May vaida which closed at Rs 700.00 commenc
Published 29 Jan, 2012 12:00am
Business volume improves a bit on cotton market'

Business volume improves a bit on cotton market'

Mills and spinners showed some interest in fresh buying on the cotton market on Saturday in process of activity, dealers said. The official spot rate was inert at Rs 5,800, they said. Prices of seedcotton in Sindh were at Rs 1900-2400 and in the Punjab at
Published 29 Jan, 2012 12:00am
Ukraine's grain harvest likely to fall to 40 million tonnes this year

Ukraine's grain harvest likely to fall to 40 million tonnes this year

Ukraine is likely to reduce its grain harvest to about 40 million tonnes in 2012 from a record of 56.7 million in 2011 due to a fall in harvested area because of poor weather during winter grain sowing, analyst ProAgro said on Thursday. ProAgro said the w
Published 29 Jan, 2012 12:00am
EU wheat prices up on world markets

EU wheat prices up on world markets

European benchmark wheat prices added to prior gains on Thursday and fended off export-punishing strength by the euro due to broad-based gains on global commodities and financial markets. Additional support came from concerns cold weather in eastern Europ
Published 29 Jan, 2012 12:00am
US Midwest corn, soyabeans mostly steady

US Midwest corn, soyabeans mostly steady

Spot basis bids for corn and soyabeans held mostly steady around the US Midwest on Friday as farmers stayed on the sidelines after selling small portions of their crops earlier this week, grain merchants said. Bids for both commodities were firm at a term
Published 29 Jan, 2012 12:00am
Nominal business, changes seen on grain market

Nominal business, changes seen on grain market

Small business was seen on the wholesale grain market on Saturday as leading participants were on the sidelines due to less buying interest, dealers said. On the rice sector Irri-6 Sindh low type maintained overnight level at Rs 3000 and better type was h
Published 29 Jan, 2012 12:00am
India forms committee to examine sugar sector decontrol

India forms committee to examine sugar sector decontrol

India, the world's top sugar consumer, has set up a committee to study deregulation of the sector and come up with recommendations as quickly as possible, a statement on the prime minister's website on Friday said. The committee will be headed by C. Ranga
Published 29 Jan, 2012 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures eased on Friday, reflecting weaker soyabean prices on improved Argentine soya crop prospects, but finished with a second straight weekly gain. Profit-taking ahead of the weekend seen, but exporter and crusher buying noted for M
Published 29 Jan, 2012 12:00am
Argentine soya, corn harvests will be smaller this year

Argentine soya, corn harvests will be smaller this year

Argentina's soya and corn harvests will be smaller this season than in the previous crop year, the Buenos Aires Grains Exchange said on Thursday, underlining concerns that recent dry weather might crimp world food supplies. A weeks-long drought has raised
Published 29 Jan, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 155,751 tonnes of cargo comprising 120,984 tonnes of import cargo and 34,767 tonnes of export cargo including 6,480 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 120,984
Published 29 Jan, 2012 12:00am
Indonesia's first quarter crude palm oil output seen up

Indonesia's first quarter crude palm oil output seen up

Crude palm oil (CPO) output in Indonesia, the world's top producer of the vegetable oil, is seen rising 8 percent from a year ago to 4.5 million tonnes in the first quarter, an industry group said on Thursday. Indonesia's government sees full-year output
Published 29 Jan, 2012 12:00am
Soyabean export premiums firm

Soyabean export premiums firm

Soyabean export premiums at the US Gulf Coast were steady to firm on Friday, supported by tight supplies in the CIF river market and expectations for renewed demand from China next week, traders said. CIF soyabean basis remains inverted as supplies were d
Published 29 Jan, 2012 12:00am
EU energy policy may bring 500,000 jobs

EU energy policy may bring 500,000 jobs

The European Union may pass a triple whammy environment policy in the first half of this year that would bring a rapid jobs boost, cut energy bills and improve the environment by one simple measure: keeping Europe's buildings in good repair. Climate Commi
Published 29 Jan, 2012 12:00am
Greece, creditors laboriously piece together debt deal

Greece, creditors laboriously piece together debt deal

Greece and its private creditors head back to the negotiating table on Saturday to put together the final pieces of a long-awaited debt swap agreement needed to avert an unruly default. After weeks of muddling through round after round of inconclusive tal
Published 29 Jan, 2012 12:00am
Goldman executives get access to restricted stock

Goldman executives get access to restricted stock

Top Goldman Sachs Group Inc executives can sell previously restricted stock awards that are now worth $47.7 million, according to regulatory filings. Chief Executive Lloyd Blankfein, Chief Financial Officer David Viniar, Chief Operating Officer Gary Cohn
Published 29 Jan, 2012 12:00am
S&P issues negative outlook for three brokerage firms

S&P issues negative outlook for three brokerage firms

Standard & Poor's took negative ratings actions on three midsize brokerage firms on Friday, saying the European financial crisis could hurt their profitability for a prolonged period of time. S&P said it is monitoring the credit rating of GFI Group Inc, a
Published 29 Jan, 2012 12:00am
RBS chairman waives $2.2 million bonus after Hester row

RBS chairman waives $2.2 million bonus after Hester row

Royal Bank of Scotland's Chairman Philip Hampton will not pick up a 1.4 million pound ($2.2 million) stock bonus, the bailed-out bank said, following public anger and political squabbling over a 1 million pound bonus for its chief executive. Anger over ba
Published 29 Jan, 2012 12:00am
Citigroup cuts investment bank bonuses by 30 percent

Citigroup cuts investment bank bonuses by 30 percent

Citigroup has cut bonuses for its investment banking division by about 30 percent on average, Bloomberg said, citing a person briefed on the matter. Some businesses within the securities and banking unit had bonuses reduced by as much as 70 percent, Bloom
Published 29 Jan, 2012 12:00am
Panel orders Citi to pay $950,000 for muni fund losses

Panel orders Citi to pay $950,000 for muni fund losses

Citigroup must pay a total of $950,000 to an investor and two trustees who lost money in a series of municipal bond funds that plunged in value between 2007 and 2008, a securities arbitration panel has ruled. The ruling on Thursday by a Financial Industry
Published 29 Jan, 2012 12:00am
Panel orders Citi to pay $950,000 for muni fund losses

Panel orders Citi to pay $950,000 for muni fund losses

Citigroup must pay a total of $950,000 to an investor and two trustees who lost money in a series of municipal bond funds that plunged in value between 2007 and 2008, a securities arbitration panel has ruled. The ruling on Thursday by a Financial Industry
Published 29 Jan, 2012 12:00am
US SEC taps new interim inspector general

US SEC taps new interim inspector general

The US Securities and Exchange Commission has appointed Deputy Inspector General Noelle Maloney as interim inspector general to temporarily replace David Kotz, who is leaving the SEC for a job with a private investigative firm. Maloney will head the inspe
Published 29 Jan, 2012 12:00am
Goldman, Berkshire names surface in Gupta case

Goldman, Berkshire names surface in Gupta case

The names of a Goldman Sachs board member and a top executive of Berkshire Hathaway surfaced on Friday as potential witnesses in the insider trading trial of Rajat Gupta, a former director of Goldman, Procter & Gamble and other companies.
Published 29 Jan, 2012 12:00am
US cattle herd at 60-year low, beef prices to bite

US cattle herd at 60-year low, beef prices to bite

The US cattle herd has shrunk for the fifth straight year to a 60-year low, a government report showed on Friday, as a devastating drought and record high feed costs hit production, which will likely mean even higher beef prices for consumers. One of the
Published 29 Jan, 2012 12:00am
Exxon to sell large part of Tonen stake for about $3.9 billion

Exxon to sell large part of Tonen stake for about $3.9 billion

Exxon Mobil plans to sell a large part of its 50 percent stake in TonenGeneral Sekiyu KK back to its Japanese refining partner in a deal that could be worth about 300 billion yen ($3.9 billion), and will make an announcement as early as Monday, four sourc
Published 29 Jan, 2012 12:00am
US closes four banks, bringing total to 7 in 2012

US closes four banks, bringing total to 7 in 2012

US regulators closed four banks on Friday, bringing the total number of foreclosures this year to seven. The Federal Deposit Insurance Corporation said Tennessee Commerce Bank, of Franklin, Tennessee, was closed on Friday. The bank's sole branch will reop
Published 29 Jan, 2012 12:00am
Obama administration bolsters homeowner lifeline

Obama administration bolsters homeowner lifeline

The Obama administration, in an election-year bid to help distressed homeowners, on Friday expanded its main foreclosure prevention programme, and pushed for Fannie Mae and Freddie Mac to forgive mortgage debt. The administration said it would extend the
Published 29 Jan, 2012 12:00am
Liverpool down United, Chelsea through

Liverpool down United, Chelsea through

Substitute Dirk Kuyt struck two minutes from time to give hosts Liverpool a 2-1 FA Cup fourth-round victory over Manchester United on Saturday with visiting captain Patrice Evra being booed throughout and making a mistake for the winner. United left back
Published 29 Jan, 2012 12:00am
UBL win State Bank Governor's cricket tournament

UBL win State Bank Governor's cricket tournament

United Bank Limited (UBL) won the 10th State Bank Governor's InterBank Cricket Tournament by defeating Habib Bank Limited (HBL) at SBP Sports Complex, North Nazimabad, Karachi on Saturday. Bating first, UBL scored 154 for 5. Hasan Mehmood (44), Tariq Iqba
Published 29 Jan, 2012 12:00am
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