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Print - 2012-02-03
Prices maintained on cotton market

Prices maintained on cotton market

Cotton traders reported a continuing regular stance in the ready market on Thursday with reports that a record crop between 14 million to 14.50 million domestic size bales will be reaped during the current season (August 2011-July 2012). Lifting of lint h
Published 03 Feb, 2012 12:00am
Rosneft, Gazprom pump Russian oil output to record

Rosneft, Gazprom pump Russian oil output to record

Oil output from Russia, the world's biggest producer, hit a record high last month thanks to higher pumping rates at Rosneft and Gazprom. Oil production growth in Russia, which is expected to flatten in coming years, again surprised analysts on the upside
Published 03 Feb, 2012 12:00am
Glencore, Xstrata in $80 billion merger talks

Glencore, Xstrata in $80 billion merger talks

Mining group Xstrata and commodities trader Glencore are in talks over an all-share merger that could create a combined group worth more than 50 billion pounds ($79 billion), shaking up the industry with its biggest deal to date.
Published 03 Feb, 2012 12:00am
Amazon launches online shopping service in India

Amazon launches online shopping service in India

The world's largest online retailer Amazon.com Inc entered India on Thursday with the launch of its shopping website junglee.com, in a major boost to the country's fast-growing e-commerce market. Seventeen years after Amazon's online debut, the $88.4 bill
Published 03 Feb, 2012 12:00am
Qatar, China central banks agree to boost cooperation

Qatar, China central banks agree to boost cooperation

The central banks of China and Qatar agreed to strengthen co-operation in areas such as developing their financial markets, a statement said on Thursday, the latest in a series of agreements that the People's Bank of China has sealed globally in the last
Published 03 Feb, 2012 12:00am
AstraZeneca axes 7,300 jobs

AstraZeneca axes 7,300 jobs

AstraZeneca is cutting a further 7,300 jobs and expects earnings to fall 14-18 percent this year as patents on key drugs expire and governments in Europe and the United States squeeze prices. Britain's second-biggest drugmaker said on Thursday the latest
Published 03 Feb, 2012 12:00am
Sri Lanka allows foreign firms to lend to equity investors

Sri Lanka allows foreign firms to lend to equity investors

Sri Lanka on Thursday allowed foreign-owned companies registered by the Securities and Exchange Commission (SEC) to lend money to investors in the island nation's stock market, the central bank said on Thursday. The bank's decision comes after the Colombo
Published 03 Feb, 2012 12:00am
Sri Lanka allows foreign firms to lend to equity investors

Sri Lanka allows foreign firms to lend to equity investors

Sri Lanka on Thursday allowed foreign-owned companies registered by the Securities and Exchange Commission (SEC) to lend money to investors in the island nation's stock market, the central bank said on Thursday. The bank's decision comes after the Colombo
Published 03 Feb, 2012 12:00am
Iran more than doubles defence budget

Iran more than doubles defence budget

Iran plans to more than double military spending over the coming 12 months, according to an annual budget proposal by President Mahmoud Ahmadinejad presented to parliament and announced on his official website on Thursday. "In the area of defence, there i
Published 03 Feb, 2012 12:00am
Shell profits hit $30.92 billion

Shell profits hit $30.92 billion

Energy giant Royal Dutch Shell said Thursday that 2011 net profit jumped 54 percent to $30.92 billion (23.6 billion euros) on higher oil prices, but also revealed a drop in fourth-quarter earnings. The profit after tax figure compared with net income of $
Published 03 Feb, 2012 12:00am
Shell profits hit $30.92 billion

Shell profits hit $30.92 billion

Energy giant Royal Dutch Shell said Thursday that 2011 net profit jumped 54 percent to $30.92 billion (23.6 billion euros) on higher oil prices, but also revealed a drop in fourth-quarter earnings. The profit after tax figure compared with net income of $
Published 03 Feb, 2012 12:00am
Facebook shoots for $5 billion in mega IPO

Facebook shoots for $5 billion in mega IPO

Facebook filed on Wednesday to raise a targeted $5 billion in a hotly anticipated initial public offering, setting the stage for Silicon Valley's biggest-ever IPO. The world's largest social network, a dorm room project for Harvard dropout Mark Zuckerberg
Published 03 Feb, 2012 12:00am
Facebook shoots for $5 billion in mega IPO

Facebook shoots for $5 billion in mega IPO

Facebook filed on Wednesday to raise a targeted $5 billion in a hotly anticipated initial public offering, setting the stage for Silicon Valley's biggest-ever IPO. The world's largest social network, a dorm room project for Harvard dropout Mark Zuckerberg
Published 03 Feb, 2012 12:00am
US jobless claims fall; jobs market slowly healing

US jobless claims fall; jobs market slowly healing

New claims for unemployment benefits in the United States fell more than expected last week, pointing to more healing in the nation's battered jobs market. Data on jobless claims zigzagged the last few weeks, but the figures suggest employers are less eag
Published 03 Feb, 2012 12:00am
Fed will protect US from Europe fallout: Bernanke

Fed will protect US from Europe fallout: Bernanke

Europe's financial crisis still threatens the US recovery, and the Federal Reserve will do everything it can to protect against damage to the economy, Fed Chairman Ben Bernanke said on Thursday. Bernanke told Congress he was seeing signs that some of the
Published 03 Feb, 2012 12:00am
Eurozone producer prices fall

Eurozone producer prices fall

Cheaper energy pushed down eurozone producer prices in December from the previous month, data showed on Thursday, in a sign inflationary pressures early in the pipeline are easing and potentially leaving room for more ECB interest rate cuts. The European
Published 03 Feb, 2012 12:00am
Eurozone should exit mild recession this year: S&P

Eurozone should exit mild recession this year: S&P

The eurozone should exit a mild recession in the second half of this year, but the chances are still considerable that it will suffer a more severe contraction, Standard & Poor's rating agency said Thursday. "We think the scale continues to tilt in favour
Published 03 Feb, 2012 12:00am
World Bank urges Croatia to focus on growth, budget cuts

World Bank urges Croatia to focus on growth, budget cuts

Croatia's fiscal consolidation plans are a positive signal but the new government also needs to stimulate investment and introduce more flexibility in the labour market to make growth sustainable, a senior World Bank official said on Thursday.
Published 03 Feb, 2012 12:00am
Once bankrupt JAL posts almost $2.0 billion profit

Once bankrupt JAL posts almost $2.0 billion profit

Japan Airlines, which went bankrupt two years ago in one of the country's biggest-ever corporate failures, reported a nine-month profit of almost $2.0 billion Thursday, in part thanks to the strong yen. The carrier was bailed out by the government after f
Published 03 Feb, 2012 12:00am
Once bankrupt JAL posts almost $2.0 billion profit

Once bankrupt JAL posts almost $2.0 billion profit

Japan Airlines, which went bankrupt two years ago in one of the country's biggest-ever corporate failures, reported a nine-month profit of almost $2.0 billion Thursday, in part thanks to the strong yen. The carrier was bailed out by the government after f
Published 03 Feb, 2012 12:00am
Toyota invests $90 million to expand Russia factory

Toyota invests $90 million to expand Russia factory

Japanese carmaking giant Toyota said Thursday it would invest $90 million over the next three years to expand its factory in the north-western Russian city of Saint Petersburg. "The Toyota Motor Manufac-turing Russia company announces its plans to expand
Published 03 Feb, 2012 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 Thursday. 84.28-84.40 (previous 84.30-84.43). Call Money Rates: 20.00 percent (previous 14.00-20.00 percent).
Published 03 Feb, 2012 12:00am
Yuan ends up

Yuan ends up

The yuan closed higher on Thursday, moving around key resistance at 6.30 against the dollar and looks set for a break of that level soon partly buoyed by a stronger mid-point fixing by the People's Bank of China, traders said. The market expects the yuan
Published 03 Feb, 2012 12:00am
Euro rises in Asia

Euro rises in Asia

The euro inched higher versus the dollar and the Australian dollar hit a five-month high on Thursday as risk sentiment improved after global manufacturing data allayed the market's worst fears about global growth. Underscoring its broad retreat, the dolla
Published 03 Feb, 2012 12:00am
Euro falls in London

Euro falls in London

The euro fell against the dollar on Thursday as concerns resurfaced about the risk of a chaotic default in Greece, offsetting earlier supportive comments from Chinese premier Wen Jiabao. The euro fell around 0.5 percent to a session low of $1.3085, with t
Published 03 Feb, 2012 12:00am
Early trade in New York: euro climbs versus dollar

Early trade in New York: euro climbs versus dollar

The euro rose against the dollar on Thursday after Federal Reserve Chairman Ben Bernanke's testimony to Congress on the US economy was perceived as more bullish than expected, raising risk tolerance. In a volatile session, the single currency see-sawed be
Published 03 Feb, 2012 12:00am
Euro gains, yen loses footing in New York

Euro gains, yen loses footing in New York

The euro rose against the dollar on Wednesday on the latest hopes that a Greek debt deal was near, while the greenback bounced from a three-month low versus the yen as investors remained keenly aware of potential central bank intervention. The euro pared
Published 03 Feb, 2012 12:00am
Australian and New Zealand dollars up

Australian and New Zealand dollars up

The Australian dollar reached a five-month high against the greenback on Thursday, with the kiwi not far behind as renewed optimism over a Greek debt deal and upbeat data at home and abroad lifted risk appetite. The Aussie touched a high of $1.0758, a lev
Published 03 Feb, 2012 12:00am
Swiss franc dips

Swiss franc dips

The Swiss franc weakened against the euro on Thursday, with investors in many countries willing to take on more risk after manufacturing data soothed anxiety about economic prospects. The franc fell 0.1 percent against the euro to trade at 1.2059 compared
Published 03 Feb, 2012 12:00am
Indian rupee jumps

Indian rupee jumps

The Indian rupee hit a three-month high on Thursday, encouraged by gains in domestic equities, and after manufacturing data in China and Germany boosted investor appetite in high-yielding emerging market assets. The rupee closed at 49.15/16, after touchin
Published 03 Feb, 2012 12:00am
Asian trade: Taiwan dollar climbs

Asian trade: Taiwan dollar climbs

Emerging Asian currencies rallied on Thursday, with the Taiwan dollar hitting a 4-1/2 month high, as easing worries over the euro zone and the global economic slowdown boosted risk appetites and inflows into the region. Factory activity in the United Stat
Published 03 Feb, 2012 12:00am
Sterling holds high versus dollar

Sterling holds high versus dollar

Sterling hovered near a two-and-a-half month high versus the dollar on Thursday, supported by a cautiously optimistic outlook for riskier currencies and data from the UK which pointed at growth in the construction and manufacturing sectors.
Published 03 Feb, 2012 12:00am
Messi thwarted as Valencia hold Barca in King's Cup

Messi thwarted as Valencia hold Barca in King's Cup

Lionel Messi had a penalty saved early in the second half as Barcelona were held to a 1-1 draw at Valencia in a hard-fought King's Cup semi-final first leg on Wednesday. Valencia snatched a 27th-minute lead at their Mestalla stadium when Jeremy Mathieu fo
Published 03 Feb, 2012 12:00am
Calls for Terry to be axed as England skipper

Calls for Terry to be axed as England skipper

England captain John Terry faced mounting calls to be stripped of the armband on Thursday after the Chelsea star's trial on racial abuse charges was delayed until July. Anti-racism campaigners, footballers and media commentators said Terry should be repla
Published 03 Feb, 2012 12:00am
PUTD win inter-collegiate Table Tennis 2012

PUTD win inter-collegiate Table Tennis 2012

Punjab University Teaching Department (PUTD) won the PU Inter-Collegiate Table Tennis 2012. PUTD's Table Tennis team defeated Punjab University College of Engineering and Emerging Technologies (CEET) in the final, which was played at the gymnasium of PU N
Published 03 Feb, 2012 12:00am
IPL not a distraction for England: Strauss

IPL not a distraction for England: Strauss

England captain Andrew Strauss disagreed the lucrative Indian league was a distraction for his team which faces a 3-0 defeat against Pakistan in the third and final Test starting here from Friday. Pakistan won the first two Tests, the first here by ten wi
Published 03 Feb, 2012 12:00am
Ghana dismiss doubts after shaky draw with Guinea

Ghana dismiss doubts after shaky draw with Guinea

Ghana have dispelled doubts about their chances of winning a fifth Africa Cup of Nations title even after a laboured performance with Guinea in their closing first round game. The Black Stars drew 1-1 with 10-man Guinea to finish top of Group D and will f
Published 03 Feb, 2012 12:00am
Newcastle go fifth, Arsenal faltering, Cisse scores on debut for QPR

Newcastle go fifth, Arsenal faltering, Cisse scores on debut for QPR

Newcastle United closed in on the top four with a 2-0 victory at Blackburn Rovers on Wednesday and Arsenal slipped to seventh after a goalless draw at Bolton Wanderers stretched their winless run in the Premier League to four matches. Scott Dann's own goa
Published 03 Feb, 2012 12:00am
O'Brien eager for IPL chance

O'Brien eager for IPL chance

Ireland's Kevin O'Brien will hope for more good news from Bangalore when the Indian Premier League players' auction takes place in the southern Indian city on Saturday. It was in Bangalore last year where O'Brien scored the fastest World Cup century of al
Published 03 Feb, 2012 12:00am
U-14 football festival begins

U-14 football festival begins

Under-14 National Football Festival-2012 will be held from 3rd to 15th February at Jinnah Football Stadium, Islamabad. As many as 16 teams, ie, one team from each province, region and eight teams of Aid 27 coaches Pakistan Football Federation (PFF) are ta
Published 03 Feb, 2012 12:00am
South East Asia markets: Philippine index at an all-time high

South East Asia markets: Philippine index at an all-time high

Southeast Asian stock markets joined others in rising on Thursday following upbeat manufacturing data from some nations that boosted hopes for global economic growth and spurred demand for regional big caps such as banks. Optimism about global recovery ap
Published 03 Feb, 2012 12:00am
Nikkei remains up

Nikkei remains up

The Nikkei stock average gained for a third day on Thursday, supported by economic data out of the United States and China, in a session that was marred by technical problems that prevented morning trade of some 240 shares and instruments.
Published 03 Feb, 2012 12:00am
Thursday's early trade: Wall Street mixed

Thursday's early trade: Wall Street mixed

US stocks seesawed in a tight range on Thursday, with winners and losers taking their cues from earnings reports, while a drop in jobless claims continued to point to a slowly healing labour market. Healthcare shares were among the losers, with underwhelm
Published 03 Feb, 2012 12:00am
Wall Street extend rally on factory data

Wall Street extend rally on factory data

US stocks extended January's rally on Wednesday after upbeat global manufacturing data boosted sentiment and as Greece neared a long-delayed deal with private creditors. The recent run of better-than-expected economic data around the world, though still n
Published 03 Feb, 2012 12:00am
Treasuries decline

Treasuries decline

US Treasuries prices fell on Wednesday as investors, encouraged by improving manufacturing data and hopes of an orderly debt restructuring by Greece, snapped up riskier assets such as stocks and corporate bonds. Taking advantage of the improved appetite f
Published 03 Feb, 2012 12:00am
Treasuries decline

Treasuries decline

US Treasuries prices fell on Wednesday as investors, encouraged by improving manufacturing data and hopes of an orderly debt restructuring by Greece, snapped up riskier assets such as stocks and corporate bonds. Taking advantage of the improved appetite f
Published 03 Feb, 2012 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks ended 1.37 percent higher on Thursday at a five-month closing high, topped by LCD makers and computer counters, while HTC Corp was limit-up for the second consecutive session as foreign investors bought up its previously underperforming shar
Published 03 Feb, 2012 12:00am
Egypt's bourse tumbles

Egypt's bourse tumbles

Egypt's bourse made its largest decline in six weeks on Thursday after 74 people were killed in violence at a soccer stadium, a fresh setback for a country struggling with weak security a year after its president was overthrown.
Published 03 Feb, 2012 12:00am
Hong Kong, Shanghai shares jump two percent

Hong Kong, Shanghai shares jump two percent

Shares in both Hong Kong and Shanghai rose 2 percent on Thursday, lifted by Chinese financials and growth-sensitive sectors after fears of a global economic slowdown eased on US and German manufacturing data that beat expectations. Chinese banks were bols
Published 03 Feb, 2012 12:00am
Australian shares up

Australian shares up

Australian shares gained 1 percent on Thursday, breaking a three-day losing streak as miners and banks rose as encouraging manufacturing data soothed fears about the global economic fallout from the euro zone debt crisis. BHP Billiton, which announced a $
Published 03 Feb, 2012 12:00am
European shares hit fresh six-month high

European shares hit fresh six-month high

European shares hit a fresh six-month closing high on Thursday, after US weekly jobless claims showed the market was improving, while Xstrata and Glencore led the risers on confirmed merger talks. Gains, however, were capped as the FTSEurofirst 300 index
Published 03 Feb, 2012 12:00am
UK's top share index soars

UK's top share index soars

Britain's top share index paused on Thursday after recent sharp gains with a rally in miners on the prospects of a big sector merger counterbalanced by warnings from blue chips of a tough year ahead. The FTSE-100 finished 0.1 percent, or 5.35 points, high
Published 03 Feb, 2012 12:00am
Indian shares rise

Indian shares rise

Indian shares rose 0.8 percent on Thursday to their highest close in nearly three months after strong manufacturing data in India and other major economies from China to Germany eased growth concerns and bolstered risk appetite. Telecom stocks were in the
Published 03 Feb, 2012 12:00am
Seoul shares rise

Seoul shares rise

Seoul shares rose for a third straight day on Thursday as a gush of offshore buying broke a stubborn resistance line, with global sentiment bullish following subsiding debt worries in Europe and upbeat manufacturing data from multiple major economies.
Published 03 Feb, 2012 12:00am
Syria locks down Hama on anniversary of massacre

Syria locks down Hama on anniversary of massacre

Syrian troops closed public squares in Hama on Thursday after residents poured red paint symbolising blood on the ground to mark the 30th anniversary of the massacre President Bashar al-Assad's father carried out to crush an uprising. Assad has been locke
Published 03 Feb, 2012 12:00am
Fourth potentially habitable planet discovered

Fourth potentially habitable planet discovered

International astronomers said on Thursday they have found the fourth potentially habitable planet outside our solar system with temperatures that could support water and life about 22 light-years from Earth. The team analysed data from the European South
Published 03 Feb, 2012 12:00am
ICC rejects Qadhafi daughter's appeal

ICC rejects Qadhafi daughter's appeal

The International Criminal Court (ICC) said on Thursday it had rejected a request by former Libyan leader Muammar Qadhafi's daughter to submit information in the case of her brother, who is awaiting trial in Libya on rape and murder charges. Saif al-Islam
Published 03 Feb, 2012 12:00am
Romney takes big lead in Nevada, poll shows

Romney takes big lead in Nevada, poll shows

Republican frontrunner Mitt Romney has taken a big lead in Nevada, the next state to vote for a Republican candidate to run against President Barack Obama in November, a new poll showed Thursday. Fresh from a decisive victory in Florida, Romney was pollin
Published 03 Feb, 2012 12:00am
Palestinians throw shoes, stones at UN convoy

Palestinians throw shoes, stones at UN convoy

Dozens of Palestinians threw shoes, sticks and stones at UN Secretary-General Ban Ki-moon's convoy as it crossed into the Gaza Strip on Thursday, protesting against what they saw as a slight against Palestinians jailed in Israel. No one was injured during
Published 03 Feb, 2012 12:00am
Seven aid workers in Yemen freed

Seven aid workers in Yemen freed

Tribesmen in Yemen freed six UN aid workers on Thursday, two days after they were kidnapped to secure the release of a jailed man from police custody, one of the hostage-takers said. Valerie Amos, the UN emergency relief co-ordinator, had somewhat differe
Published 03 Feb, 2012 12:00am
Kuwait opposition seen making gains in polls

Kuwait opposition seen making gains in polls

Kuwaiti opposition candidates were set to make gains in a snap parliamentary election held on Thursday in the oil-exporting Gulf Arab country. Kuwait's ruler, Sheikh Sabah al-Ahmad al-Sabah, called the vote in December after dissolving the chamber in resp
Published 03 Feb, 2012 12:00am
Blast kills seven in Colombia

Blast kills seven in Colombia

Seven people were killed and some 70 wounded when suspected leftist rebels detonated explosives near a police station in the south-western town of Tumaco on Wednesday, Red Cross officials said. Four police officers and three civilians were killed in the b
Published 03 Feb, 2012 12:00am
Hundreds rescued as Papua New Guinea ferry sinks

Hundreds rescued as Papua New Guinea ferry sinks

More than 200 people were plucked from waters off Papua New Guinea Thursday after a ferry sank but many others remained missing, with rescuers scouring the area for further survivors. Operator Star Ships said it lost contact with the MV Rabaul Queen at ab
Published 03 Feb, 2012 12:00am
160 dead as cold snap grips Europe

160 dead as cold snap grips Europe

A cold snap kept Europe in its icy grip on Thursday, pushing the death toll to 160 as countries from Italy to Ukraine struggled to cope with temperatures that plunged to record lows in some places. Nine more people died in Poland overnight as temperatures
Published 03 Feb, 2012 12:00am
UK appoints first envoy to Somalia in 21 years

UK appoints first envoy to Somalia in 21 years

Britain appointed Thursday its first ambassador to war-torn Somalia for 21 years, Foreign Secretary William Hague said, as he made a landmark visit to the anarchic capital Mogadishu. "I am delighted to have made the first visit to Mogadishu by a British F
Published 03 Feb, 2012 12:00am
US crew claims $3 billion in sunken treasure

US crew claims $3 billion in sunken treasure

US treasure hunters said they found the sunken remains of a British steamer torpedoed during World War II carrying platinum now valued at $3 billion, the Boston Globe reported Wednesday.
Published 03 Feb, 2012 12:00am
Russia, Ukraine argue over gas as EU reports shortage

Russia, Ukraine argue over gas as EU reports shortage

Russian gas export monopoly Gazprom on Thursday denied cutting supplies to cold-stricken Europe, pointing the finger at transit nation Ukraine, which in turn said it was taking only as much fuel as agreed in its contract with Moscow. Gazprom's Deputy Chie
Published 03 Feb, 2012 12:00am
Iran accepts 45 percent of India oil sales in rupees

Iran accepts 45 percent of India oil sales in rupees

Iran has agreed to be paid 45 percent of revenue from its Indian oil exports in rupees, to be deposited with an Indian bank beyond the reach of new US and European sanctions, a report said Thursday. The two countries have chosen UCO Bank, headquartered in
Published 03 Feb, 2012 12:00am
Punjab produces record wheat, rice, and maize crops

Punjab produces record wheat, rice, and maize crops

Provincial Minister for Agriculture Malik Ahmad Ali Aulakh has said that due to special interest taken by Chief Minister Punjab Shahbaz Sharif and provision of maximum facilities to the farmers, a record production of wheat, rice, maize, potato and sugarc
Published 03 Feb, 2012 12:00am
Shahbaz relinquishes portfolios

Shahbaz relinquishes portfolios

Punjab Chief Minister Shahbaz Sharif has relinquished portfolios of several ministries. However, a Punjab government spokesman said that the chief minister would continue to retain the portfolio of health. He said that Law Minister Rana Sanaullah and Agri
Published 03 Feb, 2012 12:00am
Pesco asked to overcome over-billing on priority basis

Pesco asked to overcome over-billing on priority basis

The board of directors, Peshawar Electricity Supply Company (Pesco) has directed the management of the company to redress complaints regarding over-billing on priority basis, saying consumers are fed up with over-billing.
Published 03 Feb, 2012 12:00am
New York cotton settles higher

New York cotton settles higher

Cotton futures finished higher Thursday on follow-through investor, commercial and possible fund buying boosting the market and could give fiber contracts a sustained lift in the days ahead, dealers said. Benchmark March cotton on ICE Futures US increased
Published 03 Feb, 2012 12:00am
Shanghai copper up

Shanghai copper up

The most-traded April copper contract on the Shanghai Futures Exchange was up 0.64 percent to 59,880 yuan ($9,500) a tonne on Thursday. "The market is digesting the supportive PMI numbers, which have confirmed that industrial activity looks considerably b
Published 03 Feb, 2012 12:00am
Copper falls on slow China demand

Copper falls on slow China demand

Copper fell on Thursday on signs of slow demand from top metals consumer China, which is returning to work after a week-long holiday, and concerns about the risk of a chaotic default in Greece. Benchmark copper on the London Metal Exchange (LME) closed at
Published 03 Feb, 2012 12:00am
Weak US crude drags Brent lower

Weak US crude drags Brent lower

Brent oil fell on Thursday, dragged down as a large gain in US crude inventories sent West Texas Intermediate prices tumbling to a six-week low ahead of Friday's US jobs report, a vital indicator on the economic recovery. Brent had risen earlier, helped b
Published 03 Feb, 2012 12:00am
Tokyo rubber down

Tokyo rubber down

Key TOCOM rubber futures ended down 1.7 percent on Thursday as profit-taking set in on news that rubber stocks in China had ballooned, which also dragged down the Shanghai market. The key Tokyo Commodity Exchange rubber contract for July delivery ended do
Published 03 Feb, 2012 12:00am
Palm oil tumbles

Palm oil tumbles

Malaysian crude palm oil touched a new six-week low on Thursday as the ringgit currency strengthened against the US dollar, making it expensive for refiners to buy feedstock to process at a time when demand has slowed. Losses were capped earlier before th
Published 03 Feb, 2012 12:00am
Wheat jumps

Wheat jumps

US wheat posted a 4-1/2 month peak on Wednesday, a second straight daily advance, as a cold snap hit Europe threatening its winter wheat crop and Russia looked likely to curb exports. Corn and soyabeans also rose for the second straight session, buoyed al
Published 03 Feb, 2012 12:00am
Sugar hovers above three-week low

Sugar hovers above three-week low

Raw sugar futures on Thursday hovered near a three-week low hit the previous session, while the rest of the softs complex was mired in range-bound business. Ample sugar supplies hampered its upside potential while cocoa benefited from tightening supplies
Published 03 Feb, 2012 12:00am
Gold rises in New York

Gold rises in New York

Gold rose on Wednesday as the dollar slipped against the euro and on strong global manufacturing data, while analysts said profit-taking could pressure the precious metal after its biggest January gain in 32 years. Spot gold added 0.4 percent at $1,744.16
Published 03 Feb, 2012 12:00am
Gold rises in Asia

Gold rises in Asia

Gold extended gains on Thursday, rising to its highest level in nearly two months, as the euro firmed on upbeat global manufacturing data and expectations that a Greek debt deal to avoid a messy default was close at hand. Gold added $4.89 an ounce to $1,7
Published 03 Feb, 2012 12:00am
Gold climbs in Europe

Gold climbs in Europe

Gold prices rose on Thursday, approaching their earlier eight-week peak above $1,750 an ounce, as a larger than expected fall in new US claims for unemployment benefit lifted stock markets and helped pull the dollar off highs versus the euro. The precious
Published 03 Feb, 2012 12:00am
US MIDDAY: wheat retreats

US MIDDAY: wheat retreats

US wheat futures retreated less than 1 percent on Thursday on outlooks for better weather in Europe's wheat belt following bitter cold that threatened crop output and rallied prices to multimonth peaks. Corn and soyabeans turned up as the dollar weakened,
Published 03 Feb, 2012 12:00am
US MIDDAY: copper climbs

US MIDDAY: copper climbs

Copper rose for the first time in four days on Wednesday, as talk of an imminent Greek debt deal and encouraging US, Chinese and German manufacturing data fed investors' appetite for risk. In New York, the key March COMEX contract climbed 5.20 cents to se
Published 03 Feb, 2012 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

Gold rose on Thursday for a third consecutive day on a larger-than-expected fall in new US claims for unemployment benefits, but analysts said bullion could pull back due to an upcoming US jobs report. Bullion hit a two-month high, reversing initial losse
Published 03 Feb, 2012 12:00am
LCWU announces admissions

LCWU announces admissions

Lahore College for Women University (LCWU), Lahore has announced admission for Post Graduate Diploma in Teaching (PGDT), an evening program offered by the Department of Education.
Published 03 Feb, 2012 12:00am
LHC summons Federal Finance Secretary on March 23

LHC summons Federal Finance Secretary on March 23

The Lahore High Court (LHC) issued notice to the Federal Secretary Finance for March 23 in a contempt of court petition filed by Farasat Ali and others. The petitioners contended that the court had directed the respondent secretary for regularising their
Published 03 Feb, 2012 12:00am
Two more succumb to drug reaction

Two more succumb to drug reaction

Another two people died due to reaction of sub-standard medicine supplied by the Punjab Institute of Cardiology (PIC) to the cardiac patients. On Thursday, Syed Abbas (55) of Shad Bagh Lahore and Syed Zafar (74) of Sodiwal who were under treatment in Serv
Published 03 Feb, 2012 12:00am
Conference on 'Role of Botanic Gardens in Conserving Natural Vegetation'

Conference on 'Role of Botanic Gardens in Conserving Natural Vegetation'

The third international conference on "Role of Botanic Gardens in Conserving Natural Vegetation" has kicked off at the Government College University Lahore. Under the auspices of Botanic Gardens Conservation International (BGCI), Higher Education Commissi
Published 03 Feb, 2012 12:00am
Flour millers accused of earning unfair profit

Flour millers accused of earning unfair profit

Pakistan Agri Forum Chairman Muhammad Ibrahim Mughal has alleged that flour millers are earning 42 percent profit by buying wheat at Rs 24 per kilogram and selling flour at Rs 34 per kilogram. "Atta Chakki owners are selling flour at Rs 34 per kilogram wh
Published 03 Feb, 2012 12:00am
Fast university to open campus in Faisalabad

Fast university to open campus in Faisalabad

President, Fast National University, Senator, Wasim Sajjad will perform ground breaking of fifth campus of the university at Faisalabad, Chiniot Road on Saturday (February 04). The university has become the hallmark of excellence in academic arena, domest
Published 03 Feb, 2012 12:00am
LCCI for renewed focus on Eastern Europe

LCCI for renewed focus on Eastern Europe

The Lahore Chamber of Commerce and Industry (LCCI) President Irfan Qaiser Sheikh has stressed the need for market diversification and urged the businessmen to make inroads in Eastern Europe, which is an untapped market and has a huge potential for Pakista
Published 03 Feb, 2012 12:00am
Five killed in different accidents

Five killed in different accidents

Five persons were killed, while five were injured seriously in two different road accidents on Thursday. According to details, a car of marriage party was dashed into road side tree near Mureedwala, resultantly, three persons Saifur Rehman, Maqbool Ahmad
Published 03 Feb, 2012 12:00am
Seminar on better use of GIs held

Seminar on better use of GIs held

Geographical Indications (GIs) have been used as effective economic tool by a number of countries in the world and they have gained significant financial benefits through use of their GIs and effective marketing at national and international level said Na
Published 03 Feb, 2012 12:00am
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