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Print - 2012-03-02
Record cotton crop depresses prices

Record cotton crop depresses prices

It is a foregone conclusion that Pakistan is reaping a record cotton crop this season (August 2011-July 2012). It is presently anticipated that seedcotton for about 14.5 million domestic size lint equivalent bales has already arrived at the ginning factor
Published 02 Mar, 2012 12:00am
Record cotton crop depresses prices

Record cotton crop depresses prices

It is a foregone conclusion that Pakistan is reaping a record cotton crop this season (August 2011-July 2012). It is presently anticipated that seedcotton for about 14.5 million domestic size lint equivalent bales has already arrived at the ginning factor
Published 02 Mar, 2012 12:00am
Britain urged to axe 50 percent top income tax rate

Britain urged to axe 50 percent top income tax rate

More than 500 owners of businesses in Britain urged the government on Thursday to scrap its 50-percent top income tax rate in the upcoming budget to aid economic recovery. In a letter to the Daily Telegraph newspaper, 537 owners of small and medium-sized
Published 02 Mar, 2012 12:00am
China's foreign minister in India talks

China's foreign minister in India talks

China's foreign minister held talks in India on Thursday that focused on issues affecting the neighbours' often troubled ties as well as an upcoming summit of major emerging economies. Yang Jiechi, who arrived in New Delhi late Wednesday, kicked off his b
Published 02 Mar, 2012 12:00am
ArcelorMittal to invest in French plant: Sarkozy

ArcelorMittal to invest in French plant: Sarkozy

President Nicolas Sarkozy said on Thursday that steelmaker ArcelorMittal would invest 17 million euros ($23 million) in a struggling French plant, addressing a hot issue in the French presidential election campaign. The decline of France's manufacturing s
Published 02 Mar, 2012 12:00am
Apple's market cap tops $500 billion

Apple's market cap tops $500 billion

Apple shares gained 1.31 percent on Wall Street on Monday and the California gadget-maker closed the day with a market capitalisation of more than $500 billion. Apple shares ended the day's trading at $542.44, giving the Cupertino, California-based compan
Published 02 Mar, 2012 12:00am
Google rolls out new privacy policy

Google rolls out new privacy policy

Google rolled out its new privacy policy Thursday allowing the firm to track users across various services to developed targeted advertising, despite sharp criticism from US and European consumer advocacy groups. Google contends the move simplifies and un
Published 02 Mar, 2012 12:00am
RBS agrees to sell Asian assets to Malaysia's CIMB

RBS agrees to sell Asian assets to Malaysia's CIMB

State-rescued Royal Bank of Scotland said on Thursday that it had signed a preliminary agreement to sell some of its Asian assets to Malaysian financial group CIMB Group Holdings for an undisclosed fee. "We can confirm RBS has signed an memorandum of unde
Published 02 Mar, 2012 12:00am
Chrysler leads strong US auto sales growth

Chrysler leads strong US auto sales growth

Chrysler once again led the pack as US auto sales continued to grow in February amid an improving overall economic outlook and despite concerns about rising fuel prices, automakers said Thursday. Ford forecast that overall industry sales would increase by
Published 02 Mar, 2012 12:00am
Chrysler leads strong US auto sales growth

Chrysler leads strong US auto sales growth

Chrysler once again led the pack as US auto sales continued to grow in February amid an improving overall economic outlook and despite concerns about rising fuel prices, automakers said Thursday. Ford forecast that overall industry sales would increase by
Published 02 Mar, 2012 12:00am
Brazil takes new steps to tame currency rally

Brazil takes new steps to tame currency rally

Brazil took new steps on Thursday to defend itself in what it calls a "global currency war," extending a tax on foreign loans to slow down a flood of capital that is strengthening its currency. Analysts said the move was unlikely to have a major impact an
Published 02 Mar, 2012 12:00am
China holdings of US debt at $1.15 trillion

China holdings of US debt at $1.15 trillion

China cut its holdings of US debt by $118 billion as its own reserves fell in the fourth quarter, newly revised US Treasury figures showed Wednesday. China's holdings of US Treasury securities fell 9.3 percent from September to December to $1.1529 trillio
Published 02 Mar, 2012 12:00am
US factory growth cools; real spending stagnant

US factory growth cools; real spending stagnant

Growth in US manufacturing unexpectedly cooled in February and consumer spending was flat in January for the third straight month after accounting for inflation, casting a pall over the economic outlook. The Institute for Supply Management said on Thursda
Published 02 Mar, 2012 12:00am
Global manufacturing activity grows

Global manufacturing activity grows

Global manufacturing activity increased for the third straight month in January as growth in India and the United States offset a very weak performance in much of the euro zone, a report showed on Thursday. The Global Manufacturing Purchasing Managers' In
Published 02 Mar, 2012 12:00am
Abu Dhabi's FGB gains; Gulf mixed

Abu Dhabi's FGB gains; Gulf mixed

Abu Dhabi's First Gulf Bank led gains on the emirate's bourse as investors cheered the lender's cash dividend and bonus shares announcement, but failed to help Dubai's index extend a rally. Shares in FGB rose 4.7 percent to close at a 41-month high. It ap
Published 02 Mar, 2012 12:00am
Indian shares fall

Indian shares fall

Indian shares fell nearly 1 percent on Thursday, with ICICI Bank and engineering conglomerate Larsen & Toubro leading the drop, as investors took profits after a two-month rally. State-run Oil and Natural Gas Corp shed 1.7 percent after a government share
Published 02 Mar, 2012 12:00am
Nikkei stays down

Nikkei stays down

Japan's Nikkei average fell on Thursday and failed to hold 9,800 for the second day in a row, as domestic investors locked in profits after the index rallied more than 10 percent last month and posted its best February performance in two decades. The Nikk
Published 02 Mar, 2012 12:00am
Thursday's early afternoon trade: stocks advance on retailers, banks

Thursday's early afternoon trade: stocks advance on retailers, banks

US stocks advanced on Thursday, reversing declines from the previous session after some positive data on the labour market and solid monthly sales from retailers encouraged buying. But gains were muted as this year's rally, which has pushed major indices
Published 02 Mar, 2012 12:00am
Wall Street snaps four-day advance

Wall Street snaps four-day advance

US stocks slipped on Wednesday, snapping a four-day winning streak after comments from US Federal Reserve Chairman Ben Bernanke disappointed investors hoping for a strong signal of more stimulus. The Fed chairman's comments drove the dollar up 0.7 percent
Published 02 Mar, 2012 12:00am
Treasuries decline

Treasuries decline

US Treasuries slipped on Wednesday as the completion of liquidity measures in Europe and the lack of hints of further stimulus measures by Federal Reserve chief Ben Bernanke spurred selling by investors who had hoped for something more concrete. The Europ
Published 02 Mar, 2012 12:00am
Treasuries decline

Treasuries decline

US Treasuries slipped on Wednesday as the completion of liquidity measures in Europe and the lack of hints of further stimulus measures by Federal Reserve chief Ben Bernanke spurred selling by investors who had hoped for something more concrete. The Europ
Published 02 Mar, 2012 12:00am
Taiwan stocks flat

Taiwan stocks flat

Taiwan stocks ended flat on Thursday, losing steam after an almost seven-month closing high in the previous session, with losses in oil counters and banking shares offsetting gains in car makers and transport. The main TAIEX index fell 3.1 points, or 0.04
Published 02 Mar, 2012 12:00am
Hong Kong, China shares slip

Hong Kong, China shares slip

Hong Kong and China shares fell on Thursday, pulled down by Chinese banks and developers on renewed fears of capital-raising in those sectors and by media reports that bank lending in February was lower than expected. Investors took profits on growth-sens
Published 02 Mar, 2012 12:00am
Manila index hits all-time high

Manila index hits all-time high

Philippine shares hit an all-time high on Thursday on expectations the central bank would cut interest rates to boost the economy, but most other Southeast Asian stock markets succumbed to profit taking as investors locked in some of this year's strong ga
Published 02 Mar, 2012 12:00am
Australian shares fall

Australian shares fall

Australian shares fell 1 percent on Thursday, with miners dented by falls in copper and gold prices on signs the US is not planning fresh stimulus measures, though the local market was lifted from its lows by positive signs from top customer China.
Published 02 Mar, 2012 12:00am
European shares rise

European shares rise

European shares closed higher on Thursday, boosted by euro zone banks as newly available cheap cash from the European Central Bank helped some sovereign bond yields to fall and further allayed default risks among corporates. Euro zone banks rose 2.6 perce
Published 02 Mar, 2012 12:00am
Banks, Man Group push FTSE up

Banks, Man Group push FTSE up

Banks and other financial stocks, buoyed by central bank infusions of money into the system, helped Britain's top share index rebound on Thursday with fund manager Man Group, surging after it reported client outflows have slowed. London's blue chip index
Published 02 Mar, 2012 12:00am
Yuan ends weaker

Yuan ends weaker

The yuan ended down against the dollar on Thursday after the People's Bank of China fixed its midpoint 97 pips lower from the previous day, mainly because of a jump in the dollar index. The central bank let the midpoint fall back from Wednesday's record h
Published 02 Mar, 2012 12:00am
Euribor rates hit lowest since October 2010

Euribor rates hit lowest since October 2010

Euribor lending rates hit their lowest level since October 2010 on Thursday and were likely to fall further after the European Central Bank injected another bout of cash into the financial system to restore confidence in the struggling banking sector. Ban
Published 02 Mar, 2012 12:00am
Dollar hovers above three-month low in Asia

Dollar hovers above three-month low in Asia

The US dollar hovered above a three-month low against a basket of major currencies on Thursday after the US Federal Reserve chief stopped short of offering a clear hint of more bond buying. The dollar index against a basket of currencies stood at 78.72, a
Published 02 Mar, 2012 12:00am
Euro retreats in London

Euro retreats in London

The euro was subdued against the dollar on Thursday on profit-taking after a huge injection of cash by the European Central Bank, with further losses likely due to lingering concerns about debt and a fragile euro zone economy. The dollar was also supporte
Published 02 Mar, 2012 12:00am
Early trade in New York: Euro little changed

Early trade in New York: Euro little changed

The euro was little changed in volatile trading on Thursday after falling to a one-week low on US economic data which had reignited doubt about the strength of the recovery. Real personal consumption in January was unchanged from the prior month, making i
Published 02 Mar, 2012 12:00am
Dollar gains in New York

Dollar gains in New York

The dollar gained against the euro and yen on Wednesday as factors ranging from month-end positioning to a European Central Bank cash infusion and lowered expectations of another Federal Reserve bond-buying binge raised the greenback's appeal. Robust US d
Published 02 Mar, 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. 81.70-81.85 (previous 81.70-81.85). Call Money Rates: 10.50-12.00 percent (previous 08.00-13.00 percent).
Published 02 Mar, 2012 12:00am
Australian and New Zealand dollars up

Australian and New Zealand dollars up

The Australian and New Zealand dollars edged up against their US counterpart on Thursday and held close to multi-month highs on the yen, following robust data at home and in China. The Aussie rose to $1.0760, from $1.0716 in New York, but was still some w
Published 02 Mar, 2012 12:00am
Swiss franc eases

Swiss franc eases

The Swiss franc eased against the greenback and was largely flat against the euro on Thursday, with investors selling the common currency following the European Central Bank's enormous injection of cheap cash to ease banking system strains. The franc was
Published 02 Mar, 2012 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee started the final month of the fiscal year on a weak note on Thursday as a lack of interest by foreign investors in the government's sale of shares in Oil and Natural Gas Corp dampened expectations of a pickup in capital inflows. The rupe
Published 02 Mar, 2012 12:00am
Most Asian currencies down

Most Asian currencies down

Most emerging Asian currencies fell on Thursday as investors took profits from recent gains after the European Central Bank's fresh liquidity injections and as Federal Reserve Chairman Ben Bernanke failed to provide clear signs of more policy easing. But
Published 02 Mar, 2012 12:00am
Sterling creeps higher

Sterling creeps higher

Sterling edged higher on Thursday, shrugging off slightly weaker-than-expected UK manufacturing data, as reduced bets on further quantitative easing and hopes that the British economy would escape recession supported the pound. The manufacturing PMI surve
Published 02 Mar, 2012 12:00am
Over $3 billion spent in 2011 on player transfers: FIFA

Over $3 billion spent in 2011 on player transfers: FIFA

More than $3 billion was spent in 2011 on international football transfers, FIFA said on Thursday, as it published its first full-year report on its regulatory system overseeing player moves world-wide. The sport's world governing body said that between J
Published 02 Mar, 2012 12:00am
Aussie tycoon sets up independent football body

Aussie tycoon sets up independent football body

Billionaire mining magnate Clive Palmer on Thursday formed a new independent organisation aimed at holding governing body Football Federation Australia to account for how it runs the game. The move comes a day after Palmer's club Gold Coast United was kic
Published 02 Mar, 2012 12:00am
Dutch, French win battles of European titans

Dutch, French win battles of European titans

Holland and France gained significant psychological boosts with 100 days to go to the Euro 2012 finals as they beat England and Germany away in their respective friendlies on Wednesday. The Dutch - European champions in 1988 - edged a vastly-less experien
Published 02 Mar, 2012 12:00am
Egyptian Hassan becomes most capped player

Egyptian Hassan becomes most capped player

Egypt midfielder Ahmed Hassan became the most capped footballer in the world Wednesday by coming on as a second-half substitute in a 1-0 friendly victory over Niger. The 36-year-old was introduced by coach Bob Bradley with 14 minutes left in Qatar capital
Published 02 Mar, 2012 12:00am
Federer, Murray in semis

Federer, Murray in semis

Roger Federer and Andy Murray reached the semi-finals on Thursday as the Dubai Open boiled up for a likely showdown between two of the big four on Saturday. Federer, the Grand Slam record-holder from Switzerland, won for the 12th time in as many meetings
Published 02 Mar, 2012 12:00am
Liverpool goalkeeper Reina in racism row

Liverpool goalkeeper Reina in racism row

Liverpool goalkeeper Pepe Reina on Thursday faced accusations of racism over a television commercial in his native Spain but the insurance company which made the advert denied it was offensive. The allegations come after Liverpool were widely criticised f
Published 02 Mar, 2012 12:00am
Pakistan hockey stars hope to revive Indian ties

Pakistan hockey stars hope to revive Indian ties

Pakistani stars playing in a new Indian field hockey league said Thursday their participation could help revive sporting links between the two countries. Five current and former Pakistan internationals, including ex-captain Zeeshan Ashraf, are in India fo
Published 02 Mar, 2012 12:00am
Iqbal Qasim named as chief selector

Iqbal Qasim named as chief selector

Former Test cricketer Iqbal Qasim has been appointed chief selector of Pakistan Cricket Board (PCB) as new five-member selection committee has been formed on Thursday following resignation by interim chief selector Mohammad Ilyas. The five-member selectio
Published 02 Mar, 2012 12:00am
Steps taken to eradicate dengue

Steps taken to eradicate dengue

City District Government Lahore (CDGL) has taken all necessary steps for eradication of dengue and town administrations have been directed for the implementation of dengue regulations. According to a CDGL's spokesperson, notices are being issued to tyre s
Published 02 Mar, 2012 12:00am
UHS greeted

UHS greeted

Higher Education Commission (HEC) Chairman, Dr Javaid R. Laghari, has greeted the University of Health Sciences (UHS) for being ranked as the top medical university of Pakistan. In a letter to UHS VC, Chairman HEC has urged UHS to participate in QS (Quacq
Published 02 Mar, 2012 12:00am
Relations with Pakistan based on mutual security, stability: US CG

Relations with Pakistan based on mutual security, stability: US CG

Ms Nina Maria Fite, US Consular General, has said that the United States and Pakistan have a strong relationship based on a mutual commitment to security and stability. "Pakistan and United States are natural trade and investment partners." She notes that
Published 02 Mar, 2012 12:00am
'Pemra not going to ban any channel'

'Pemra not going to ban any channel'

Chairman Pakistan Electronic Media Regulatory Authority (Pemra) Dr Abdul Jabbar said that Pemra is media facilitator and not going to ban any channel. Talking to Pakistan Television (PTV), he said that Pemra only conveying public complaints to channels an
Published 02 Mar, 2012 12:00am
Jamaat-e-Islami condemns US threats over IP gas pipeline

Jamaat-e-Islami condemns US threats over IP gas pipeline

Jamaat-e-Islami Chief Syed Munawar Hasan has strongly condemned the US Secretary of State Hilary Clinton's threat to Pakistan over its gas pipeline project with Iran. In a statement issued here on Thursday, he stressed upon the government to ignore the US
Published 02 Mar, 2012 12:00am
LCCI urges government to withdraw hike in POL prices

LCCI urges government to withdraw hike in POL prices

The Lahore Chamber of Commerce and Industry (LCCI) has severely criticised the 39 per cent per unit increase in electricity tariff under the monthly fuel adjustment formula and urged the government to withdraw the hike and direct the National Electric Pow
Published 02 Mar, 2012 12:00am
American activists fly out of Egypt, defusing row

American activists fly out of Egypt, defusing row

US pro-democracy activists flew out of Egypt on Thursday after the authorities lifted a travel ban, a move that is likely to defuse the worst row between Washington and Cairo in decades. Egyptian authorities had accused the campaigners, including the son
Published 02 Mar, 2012 12:00am
'Lone wolf' terror suspect charged

'Lone wolf' terror suspect charged

A 27-year old convert to Islam accused of plotting to blow up targets around New York has been indicted on several terror-related counts, officials said Thursday. Jose Pimentel, a naturalised US citizen who was born in the Dominican Republic, was arrested
Published 02 Mar, 2012 12:00am
Russia accuses US of meddling in vote

Russia accuses US of meddling in vote

Russia on Thursday accused the United States of trying to influence its election process by funding opposition groups in advance of Vladimir Putin's expected return to the Kremlin in weekend polls. Foreign Minister Sergei Lavrov delivered a scathing criti
Published 02 Mar, 2012 12:00am
UK tabloid's defence editor arrested

UK tabloid's defence editor arrested

Police investigating the bribing of public officials by journalists arrested the defence editor of Rupert Murdoch's British tabloid The Sun on Thursday, police and a media source said. The arrest of Virginia Wheeler, the 11th current or former Sun journal
Published 02 Mar, 2012 12:00am
UNSC demands 'immediate' humanitarian access

UNSC demands 'immediate' humanitarian access

The UN Security Council on Thursday called on Syria to allow "immediate" humanitarian access to protest cities in a unanimously agreed statement. Russia and China significantly signed up to the statement which was approved after Syria refused to let UN hu
Published 02 Mar, 2012 12:00am
Syrian rebels quit besieged Homs stronghold

Syrian rebels quit besieged Homs stronghold

Defeated Syrian rebels left their shattered stronghold in Homs on Thursday after a bloody 26-day army siege aimed at crushing a symbol of the year-long revolt against President Bashar al-Assad. Activists said a few fighters had stayed on in Baba Amro, whi
Published 02 Mar, 2012 12:00am
Violent clashes erupt in Azerbaijan

Violent clashes erupt in Azerbaijan

Police in Azerbaijan used tear gas to disperse thousands of protesters after they torched a local governor's house Thursday, in a rare outburst of unrest in the tightly controlled state, reports and an eyewitness said. Locals in the ex-Soviet state's nort
Published 02 Mar, 2012 12:00am
21-gun salute as Nigeria bids farewell to Biafra leader

21-gun salute as Nigeria bids farewell to Biafra leader

Soldiers fired a 21-gun salute at the funeral of Emeka Odumegwu-Ojukwu Thursday as Nigerian leaders paid final respects to the man whose 1967 declaration of Biafran independence sparked a civil war. Forty-five years after he tried to split Nigeria asunder
Published 02 Mar, 2012 12:00am
Myanmar lifts ban on exiled media broadcaster

Myanmar lifts ban on exiled media broadcaster

Myanmar has agreed to grant journalists from a prominent exiled broadcaster who previously faced lengthy jail terms limited visas to visit the country to cover news events, the group said Thursday. Reporters from the Oslo-based Democratic Voice of Burma (
Published 02 Mar, 2012 12:00am
US panel passes bill on Iran-Latin America links

US panel passes bill on Iran-Latin America links

A US House of Representatives subcommittee passed a bill Thursday requiring the State Department to report to Congress on Iran's activities in Latin America. The bill, which was approved by a voice vote in the House Foreign Affairs subcommittee on terrori
Published 02 Mar, 2012 12:00am
Australian charged over Iran military parts

Australian charged over Iran military parts

An Australian man indicted by a US federal grand jury for plotting to export components for missiles, drones and torpedoes to Iran said Thursday he had no idea his actions were in breach of an embargo. David Levick and his Sydney-based company ICM Compone
Published 02 Mar, 2012 12:00am
Conservative media guru dies

Conservative media guru dies

Radical conservative media figure Andrew Breitbart, whose string of websites targeted Democratic politicians and values, and were influential in the rise of the Tea Party, died Thursday at the age of 43. "Andrew passed away unexpectedly from natural cause
Published 02 Mar, 2012 12:00am
Student kills American teacher in Iraq

Student kills American teacher in Iraq

An Iraqi student shot dead his American teacher and then killed himself in northern Iraq's autonomous Kurdish region on Thursday, after what local authorities described as a personal quarrel. "There was an argument between the student and his American tea
Published 02 Mar, 2012 12:00am
Obama did not suggest Afghan violence ended: White House

Obama did not suggest Afghan violence ended: White House

US President Barack Obama did not suggest that violence had dissipated entirely in Afghanistan when he said that his apology to Afghanistan's leader had calmed furious protests over the desecration of Holy Quran, an Obama aide said on Thursday. Obama spok
Published 02 Mar, 2012 12:00am
New York cotton ends lower

New York cotton ends lower

Cotton futures settled lower Thursday as it declined for the second straight session as technically inspired investor sales kept the market on the defensive, analysts said. Benchmark May cotton on ICE Futures US dropped 0.77 cent to conclude at 89.67 cent
Published 02 Mar, 2012 12:00am
Shanghai copper falls

Shanghai copper falls

The most-traded May copper contract on the Shanghai Futures Exchange fell 1.3 percent to close at 60,290 yuan ($9,600) a tonne on Thursday. Stockpiles of copper at warehouses monitored by the Shanghai Futures Exchange remained near 10-year highs at more t
Published 02 Mar, 2012 12:00am
Copper moves higher

Copper moves higher

Copper rose on Thursday, clawing back some of the previous day's losses, as data suggesting that top metals consumer China will avoid a sharp economic slowdown boosted risk appetite and overshadowed concerns over Europe's debt crisis. London Metal Exchang
Published 02 Mar, 2012 12:00am
Oil hits 10-month high above $126

Oil hits 10-month high above $126

Brent oil futures rallied for a second day on Thursday, rising more than 2 percent to a 10-month high above $126 after Israel said it would test-fire a ballistic interceptor missile, raising fears of a conflict with Iran. The unusual announcement further
Published 02 Mar, 2012 12:00am
Tokyo rubber futures up

Tokyo rubber futures up

Key TOCOM rubber futures ended slightly higher on Thursday with strong oil prices and the yen's decline providing support, but heavy resistance was seen at around 340 yen. The key Tokyo Commodity Exchange rubber contract for August delivery ended up 3.3 y
Published 02 Mar, 2012 12:00am
Soya posts best month in a year

Soya posts best month in a year

US corn and soyabean futures climbed on Wednesday, with soyabeans posting a fresh five-month high and their biggest monthly gain in more than a year, bolstered by growing export demand and investment fund buying. Each contract held onto gains after tradin
Published 02 Mar, 2012 12:00am
Palm oil edges up

Palm oil edges up

Malaysian crude palm oil futures edged up on Thursday, spurred by positive factory data from second-largest importer China but gains were capped as export trends showed weaker demand. Malaysian export numbers eased in February, cutting palm oil gains to 3
Published 02 Mar, 2012 12:00am
Sugar stumbles

Sugar stumbles

Sugar futures stumbled on Thursday as markets took in stride news of the delivery of about 880,000 tonnes of raw sugar to giant trade house Cargill, and digested what looks to be ample supply from Brazil, the largest producer. ICE Futures US said a total
Published 02 Mar, 2012 12:00am
Gold down five percent in New York

Gold down five percent in New York

Gold fell 5 percent to below $1,690 an ounce on Wednesday for its biggest one-day drop in more than three years, as speculation that central banks might be done with easy monetary policies led funds to exit the bullion trade. Gold fell nearly $100 and sil
Published 02 Mar, 2012 12:00am
Gold rises in Asia

Gold rises in Asia

Spot gold rose more than 1 percent on Thursday, as its biggest daily decline in more than three years attracted buyers who bet on a further rally in bullion despite the slightly hawkish tone of US Federal Reserve Chairman Ben Bernanke. Spot gold rose 1.5
Published 02 Mar, 2012 12:00am
Gold rebounds in Europe

Gold rebounds in Europe

Gold rebounded on Thursday as buyers were tempted back to the market by the previous day's 5 percent price plunge, its biggest one-day drop since October 2008, after Federal Reserve Chairman Ben Bernanke gave no hints of a third round of quantitative easi
Published 02 Mar, 2012 12:00am
US MIDDAY: soya falls

US MIDDAY: soya falls

US soybean futures fell on Thursday, easing off their highest level in more than five months as traders locked in profits after eight straight days of gains. Wheat and corn also dropped on a wave of profit taking and technical selling following strong gai
Published 02 Mar, 2012 12:00am
US MIDDAY: copper up

US MIDDAY: copper up

In New York, the active May COMEX contract firmed 5.20 cents to settle at $3.9315 per lb on Thursday, closer to the upper end of its $3.8485 to $3.9370 session range. Volumes were thin on the first trading day of the new month. A little more than 51,400 l
Published 02 Mar, 2012 12:00am
US MIDDAY: gold rebounds

US MIDDAY: gold rebounds

Gold rose 1.5 percent on Thursday, rebounding above $1,700 an ounce as the previous session's 5 percent plunge induced investors to buy at lower prices on hopes the tumble was a healthy correction rather than the start of a bear market. Bullion climbed in
Published 02 Mar, 2012 12:00am
Mobilink, Dil partner for literacy initiative

Mobilink, Dil partner for literacy initiative

Mobilink has partnered with Developments in Literacy (Dil) to set up a Computer Lab at the Dil Model School in the Khuda Ki Basti community in Kala Shah Kaku near Sheikhupura. As part of the partnership, Dil will provide the IT curriculum and teacher trai
Published 02 Mar, 2012 12:00am
Illegal Bachat bazaars being run across city

Illegal Bachat bazaars being run across city

Despite clear directives from Karachi Metropolitan Corporation (KMC) to take action against illegal Bachat bazaars, these makeshift markets are being operated at various localities of city under the very nose of Enterprise & Investment Promotion (E&IP) De
Published 02 Mar, 2012 12:00am
Bandit killed in encounter

Bandit killed in encounter

Sindh police on Thursday claimed to have killed an alleged bandit after a brief encounter at Shershah Paracha Chowk in the jurisdiction of Site B police station. According to police, the encounter took place at Shershah Paracha Chowk where two bandits wer
Published 02 Mar, 2012 12:00am
PPP MPA accuses politicians of lending support to land grabbers

PPP MPA accuses politicians of lending support to land grabbers

A member of the Sindh Assembly on Thursday expressed concerns over grabbing of private lands and plots in the city, accusing the political parties of backing the land grabbers. During the provincial assembly session, chaired by Speaker Nisar Khuhro, an ou
Published 02 Mar, 2012 12:00am
Compulsory retirement

Compulsory retirement

The Chief Justice of the Lahore High Court (LHC) compulsory retired an assistant of the LHC Ayum Banjiman for negligence and making irregularities during his service. According to a notification issued here on Thursday the LHC registrar had issued him so
Published 02 Mar, 2012 12:00am
'Libraries provide unrestricted access to information'

'Libraries provide unrestricted access to information'

Chancellor of Sir Syed University of Engineering and Technology, (SSUET) Z.A. Nizami, has said that modern libraries are increasingly being redefined as places to get unrestricted access to information in many formats and from many sources.
Published 02 Mar, 2012 12:00am
Husnain Mirza takes oath

Husnain Mirza takes oath

Husnain Mirza, who was elected as an MPA in the recently held by-polls, joined the Sindh Assembly session on Thursday, vowing to protect the interests of his constituency and the nation. In his inaugural speech in the provincial assembly, Husnain thanked
Published 02 Mar, 2012 12:00am
Sindh assembly: all set for elections today

Sindh assembly: all set for elections today

Provincial Election Commission of Sindh has made all necessary arrangements for Senate elections to be held today (Friday) at Sindh Assembly's building to elect 10 Senators from Sindh. There are 12 seats of Sindh including seven general, two reserved for
Published 02 Mar, 2012 12:00am
Dalda Foods wins Consumer Choice Award 2011

Dalda Foods wins Consumer Choice Award 2011

Dalda Foods (Pvt) Limited has been a pioneer in bringing unmatched innovations and in introducing quality products for more than 7 decades, spanning across four generations of consumers. It symbolises care, trust, nourishment and health that is communicat
Published 02 Mar, 2012 12:00am
International Women's Day art exhibition

International Women's Day art exhibition

An art exhibition is being organised on the eve of International Women Day on Thursday 8th March, 2012 at Alliance Française Gallery by New World Concepts and Grandeur Art Gallery.
Published 02 Mar, 2012 12:00am
IoBM to hold interactive session

IoBM to hold interactive session

Institute of Business Management (IoBM) is holding an interactive session on "Business, budgetary and household solutions for the common man" at its premises in Korangi on Saturday (March 3). The session is based on a course requisite for the Corporate So
Published 02 Mar, 2012 12:00am
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