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Print - 2012-03-19
Thousands hit as Air New Zealand grounds ATR fleet

Thousands hit as Air New Zealand grounds ATR fleet

About 3,000 people in New Zealand had their travel plans disrupted Sunday when Air New Zealand grounded 11 aircraft after cracks were found around the cockpit windows of one plane. The aircraft were all ATRs - propeller-driven 68-seaters operated by Air N
Published 19 Mar, 2012 12:00am
Iraq offers oil to Sri Lanka to avert Iran ban

Iraq offers oil to Sri Lanka to avert Iran ban

Iraq has come forward to offer "substantial quantities" of crude oil to Sri Lanka, as the island desperately looks for alternatives to Iranian crude, a news report said Sunday. Iran supplies nearly 92 percent of Sri Lanka's imported crude. But supplies ha
Published 19 Mar, 2012 12:00am
Kuwait Airways cuts more flights on second day of strike

Kuwait Airways cuts more flights on second day of strike

State-run Kuwait Airways cancelled more flights on Sunday as a strike by workers calling for better pay went into a second day, in the latest round of industrial action to hit the tiny Gulf state. The carrier was forced to cancel seven flights on Sunday,
Published 19 Mar, 2012 12:00am
ISE's Katz sets sights on second options market

ISE's Katz sets sights on second options market

The International Securities Exchange has revived plans to build a new US stock-options market, ISE chief Gary Katz said on Tuesday, opening a new front in ISE's battle against bigger rivals NYSE Euronext and CBOE Holdings Inc.
Published 19 Mar, 2012 12:00am
ISE's Katz sets sights on second options market

ISE's Katz sets sights on second options market

The International Securities Exchange has revived plans to build a new US stock-options market, ISE chief Gary Katz said on Tuesday, opening a new front in ISE's battle against bigger rivals NYSE Euronext and CBOE Holdings Inc.
Published 19 Mar, 2012 12:00am
Emerging markets join the dividend race

Emerging markets join the dividend race

Global investors in search of high-dividend equity plays are heading to emerging markets, abandoning their view of these stocks as a predominantly growth-based investment. It marks another milestone in the sector's global coming of age.
Published 19 Mar, 2012 12:00am
Emerging markets join the dividend race

Emerging markets join the dividend race

Global investors in search of high-dividend equity plays are heading to emerging markets, abandoning their view of these stocks as a predominantly growth-based investment. It marks another milestone in the sector's global coming of age.
Published 19 Mar, 2012 12:00am
Tokyo stocks seen holding steady next week

Tokyo stocks seen holding steady next week

Tokyo shares are likely to hold steady in the coming week as investor sentiment remains good, despite profit taking on the recent rally, analysts said Friday. In the week to March 16, the benchmark Nikkei 225 index at the Tokyo Stock Exchange rose 200.09
Published 19 Mar, 2012 12:00am
UAE will not issue debut sovereign bond for at least 2 years

UAE will not issue debut sovereign bond for at least 2 years

The United Arab Emirates is not planning to issue its first federal sovereign bond for at least two years, Finance Minister Sheikh Hamdan bin Rashid al-Maktoum said on Tuesday, dousing market expectations for an issue this year. Other senior ministry offi
Published 19 Mar, 2012 12:00am
UAE will not issue debut sovereign bond for at least 2 years

UAE will not issue debut sovereign bond for at least 2 years

The United Arab Emirates is not planning to issue its first federal sovereign bond for at least two years, Finance Minister Sheikh Hamdan bin Rashid al-Maktoum said on Tuesday, dousing market expectations for an issue this year. Other senior ministry offi
Published 19 Mar, 2012 12:00am
China's IPO hopefuls look to London

China's IPO hopefuls look to London

Frustrated by a long wait to list at home, and enticed by the chance to boost their reputations abroad, Chinese firms are turning to London as the place to raise capital. But those looking to float in Britain will need to prove their corporate governance
Published 19 Mar, 2012 12:00am
German Novaled mandates banks for Nasdaq IPO

German Novaled mandates banks for Nasdaq IPO

Novaled, a tiny German high-tech lighting company, aims to list shares on the Nasdaq in coming months and has mandated Deutsche Bank and Goldman Sachs to prepare the flotation, two people close to the matter told Reuters.
Published 19 Mar, 2012 12:00am
German Novaled mandates banks for Nasdaq IPO

German Novaled mandates banks for Nasdaq IPO

Novaled, a tiny German high-tech lighting company, aims to list shares on the Nasdaq in coming months and has mandated Deutsche Bank and Goldman Sachs to prepare the flotation, two people close to the matter told Reuters.
Published 19 Mar, 2012 12:00am
British stock market awaits annual budget

British stock market awaits annual budget

London investors will next week focus on the British government's annual budget, amid a smattering of crucial data and company earnings news. The capital's FTSE 100 index of leading shares finished at 5,965.58 points on Friday, up 1.33 percent from a week
Published 19 Mar, 2012 12:00am
Iraq frees Saddam-era trade minister: official

Iraq frees Saddam-era trade minister: official

A former trade minister for now-executed dictator Saddam Hussein, arrested by US forces nearly nine years ago, was released by Iraqi authorities on Sunday, a deputy minister and a lawyer said. "Iraqi authorities released Mohammed Mahdi al-Salih because th
Published 19 Mar, 2012 12:00am
Libya seeks Qadhafi spy chief handover by Mauritania

Libya seeks Qadhafi spy chief handover by Mauritania

Libya said on Sunday it was sending a delegation to Mauritania to press for the extradition of Muammar Qadhafi's intelligence chief Abdallah al-Senussi and Interpol called for his handover to promote rule of law in the North African state.
Published 19 Mar, 2012 12:00am
Iran will not give up nuclear programme: key MP

Iran will not give up nuclear programme: key MP

Iran will make absolutely no concessions on its nuclear programme, a key lawmaker declared on Sunday amid high geopolitical tensions and ahead of mooted talks with world powers.
Published 19 Mar, 2012 12:00am
80 percent in Japan support nuclear phase-out: poll

80 percent in Japan support nuclear phase-out: poll

Eighty percent of Japanese want to phase out the country's reliance on nuclear power and eventually eliminate it, a poll said Sunday, a year after Japan was hit by a massive nuclear disaster. The weekend survey conducted among 3,000 voters showed 80 perce
Published 19 Mar, 2012 12:00am
Nepal Maoist leader's son refuses $250,000 grant amid row

Nepal Maoist leader's son refuses $250,000 grant amid row

The son of the leader of Nepal's ruling Maoists was forced Sunday to refuse $250,000 from his father's government for a Mount Everest expedition after the offer sparked accusations of corruption. Opposition activists had burned effigies of Prime Minister
Published 19 Mar, 2012 12:00am
Militants kill American teacher in Yemen

Militants kill American teacher in Yemen

Gunmen linked to al Qaeda shot dead an American teacher in Yemen on Sunday for Christian "proselytising", and officials said government forces had killed a dozen militants in clashes and attacks on their strongholds.
Published 19 Mar, 2012 12:00am
Defiant North Korea says rocket launch to go ahead

Defiant North Korea says rocket launch to go ahead

North Korea on Sunday rejected criticism of its planned long-range missile launch which threatens to upset its only major benefactor, China, and put relations with the United States back in the freezer just as they seemed to be starting to thaw.
Published 19 Mar, 2012 12:00am
Maoist rebels abduct two Italian tourists in India

Maoist rebels abduct two Italian tourists in India

Maoist guerrillas have abducted two Italian tourists from a remote district of India's Orissa state, marking a potential escalation of a decades-long rebel war considered India's most serious internal security threat.
Published 19 Mar, 2012 12:00am
Dozens arrested at Occupy's six-month anniversary rally

Dozens arrested at Occupy's six-month anniversary rally

Dozens of Occupy Wall Street protesters were arrested during the weekend as police cleared New York's Zuccotti Park, where demonstrators had gathered for the struggling movement's six-month anniversary.
Published 19 Mar, 2012 12:00am
10 killed in train-minivan collision in Indonesia

10 killed in train-minivan collision in Indonesia

At least 10 members of one Indonesian family were killed on Sunday, as their minivan spun out of control after colliding with a moving train and flipped over in a nearby rice field. The minivan packed with 14 people was passing through a railway crossing
Published 19 Mar, 2012 12:00am
PHP foils robbery bid

PHP foils robbery bid

Punjab Highway Petrol (PHP) has foiled a highway dacoity after an encounter. According to details, Punjab Highway Patrol Post Hardev, Sheikhupura received information from PHP helpline 1124 that five armed men were trying to intercept the vehicles near Ch
Published 19 Mar, 2012 12:00am
Cotton policy to be framed with stakeholders' consultation: PCGA

Cotton policy to be framed with stakeholders' consultation: PCGA

National Cotton Policy to be framed with the consultation of all stakeholders including growers and ginners to safeguard their interests because Pakistan may produce more than 17 million bales of cotton in next season, said Amanullah Qureshi Chairman of P
Published 19 Mar, 2012 12:00am
GCUF and UI agree to establish consortium

GCUF and UI agree to establish consortium

Government College University Faisalabad (GCUF) and University of Idaho (UI) of USA signed an understanding to establish a consortium for the purpose of using their collective expertise to evaluate, develop and implement practical solutions to enhance aqu
Published 19 Mar, 2012 12:00am
Lahore to be made city of gardens: Punjab chief minister

Lahore to be made city of gardens: Punjab chief minister

Punjab Chief Minister Shahbaz Sharif has said that horticulture has been promoted in the province and all development projects are being made eye-catching with the flowers and plants to enhance the beauty of the city. He said that Lahore would be made the
Published 19 Mar, 2012 12:00am
Pakistan, Oman urged to work in field of water management

Pakistan, Oman urged to work in field of water management

Omani Ambassador to Pakistan Mohamed Said Allawati on Sunday said that Oman and Pakistan are enjoying good as well as time-tested relations that should be more cemented especially in the field of water management as water scarcity had started hitting the
Published 19 Mar, 2012 12:00am
Anjuman Behboodi-e-Marizan Tariq elected President

Anjuman Behboodi-e-Marizan Tariq elected President

Dr Tariq Salah-ud-Din, Principal Postgraduate Medical Institute (PGMI) and Lahore General Hospital (LGH) has been elected as the President of Anjuman Behboodi-e-Marizan for next three years here on Sunday. The election of Anjuman Behboodi-e-Marizan was he
Published 19 Mar, 2012 12:00am
Mercury rises in plains of Punjab, Sindh

Mercury rises in plains of Punjab, Sindh

The day and night temperature rose by 3 to 4 degree Celsius in the plains of Punjab and Sindh on Saturday night and Sunday as weather remained dry in most parts of the country during the past 24 hours.
Published 19 Mar, 2012 12:00am
Next few months crucial for country: Qureshi

Next few months crucial for country: Qureshi

Pakistan Tehreek-e-Insaf (PTI) Vice-Chairman Shah Mahmood Qureshi on Sunday negated the impression that he was joining other political party. Speaking at a function held here to welcome the members of United Arain Foundation who have joined PTI, Qureshi s
Published 19 Mar, 2012 12:00am
Over 4.6 million citizens verify vote through SMS

Over 4.6 million citizens verify vote through SMS

Cellular companies in the country are competing to encourage citizens for verification of their votes through Short Message Service (SMS) as over 4.6 million citizens have so far availed this facility. This SMS service was launched from March 1 to facilit
Published 19 Mar, 2012 12:00am
ACCA to celebrate achievements of 145 new members

ACCA to celebrate achievements of 145 new members

Individuals gathered to celebrate the achievement of 145 new members that had reached the membership landmark in 2011. The ceremony was held at PC Crystal Halls and was attended by employers from the public and corporate sector.
Published 19 Mar, 2012 12:00am
Light rain likely in twin cities today

Light rain likely in twin cities today

Pakistan Meteorological Department (PMD) on Sunday forecast chances of light rain with dust thunderstorm in twin cities of Islamabad and Rawalpindi during next 24 hours which will turn the weather pleasant.
Published 19 Mar, 2012 12:00am
Assassination of Abdul Rasheed condemned

Assassination of Abdul Rasheed condemned

Ulema and students of local seminaries on Sunday staged a demonstration to condemn the assassination of a renowned scholar and talker of Radio Pakistan Abdul Rasheed Azhar who was killed by unknown assailant in Islamabad.
Published 19 Mar, 2012 12:00am
Sludge spraying protest planned against CDA

Sludge spraying protest planned against CDA

A sludge spraying protest would be held here on today (Monday) to condemn the attitude of Chairman Capital Development Authority against the sanitation staff. Convenor World Minority Alliance Julius Salik will spray sludge over his head to protest the all
Published 19 Mar, 2012 12:00am
Tahir Rafique to take over as new PAF chief today

Tahir Rafique to take over as new PAF chief today

Air Marshal Tahir Rafique Butt will take over as the new chief of the air staff of Pakistan Air Force (PAF) at a ceremony to be held here at the Air Headquarters on Monday.
Published 19 Mar, 2012 12:00am
Pakistan Post to be computerised

Pakistan Post to be computerised

Federal Minister for Postal Services Sardar Alhaj Muhammad Umar Gorgaij said that Pakistan Post is being computerised according to meet changing requirements of the modern world.
Published 19 Mar, 2012 12:00am
PCG seizes huge quantity of liquor

PCG seizes huge quantity of liquor

The Pakistan Coast Guards (PCG) seized foreign brand liquor and Beer from the sea area at Kalmat near Pasni. A PCG statement issued here on Sunday said that reliable source informed PCG that a huge quantity of foreign brand liquor will be smuggled in the
Published 19 Mar, 2012 12:00am
AIOU's admissions from Matric to Masters continue

AIOU's admissions from Matric to Masters continue

Allama Iqbal Open University (AIOU) will continue its admissions from Matric to MA/M.Sc level programme for the Semester Spring, 2012 with late fee charges till March 22. Director Admissions, AIOU Syed Zia-ul-Hasnain said the date for submitting the admis
Published 19 Mar, 2012 12:00am
General Wynne leaves for Sri Lanka

General Wynne leaves for Sri Lanka

General Khalid Shameem Wynne, Chairman Joint Chiefs of Staff Committee (CJCSC) on Sunday left for four days official visit to Sri Lanka. During the visit the Chairman will meet Mahinda Rajapaksa, the President of Sri Lanka, Secretary Defence and the senio
Published 19 Mar, 2012 12:00am
Flood-hit areas: SDC reconstructs six fully-damaged schools

Flood-hit areas: SDC reconstructs six fully-damaged schools

Swiss Agency for Development and Co-operation (SDC), as part of its assistance programme, has so far reconstructed six fully-damaged schools in flood-hit areas to ensure an effective learning environment for students.
Published 19 Mar, 2012 12:00am
Thai princess Sirindhorn due today

Thai princess Sirindhorn due today

Princess Maha Chakri Sirindhorn of Thailand is arriving Pakistan on Monday (today) at the invitation of President Asif Ali Zardari. According to Foreign Office, the visit will carry forward the long-standing tradition of royal visits from Thailand to Paki
Published 19 Mar, 2012 12:00am
PhD holders demand immediate payment of S&T allowance

PhD holders demand immediate payment of S&T allowance

The Ph.D degree holders working in medical colleges of Punjab have called immediate attention of the Punjab Chief Minister Mian Shahbaz Sharif to release much awaited Science and Technology Allowance to decrease their financial woes.
Published 19 Mar, 2012 12:00am
Zardari approves remission in sentences

Zardari approves remission in sentences

President Asif Ali Zardari, on the advice of Prime Minister, has approved granting of special remission in sentences on the occasion of Pakistan Day on March 23, 2012.
Published 19 Mar, 2012 12:00am
Zaheer takes over as new ISI chief

Zaheer takes over as new ISI chief

Amid fresh challenges on national and international fronts, Lieutenant General Zaheer ul-Islam took over as new chief of Inter Service Intelligence (ISI), the premier spy agency of Pakistan. The 56-year old Zaheer was appointed by Prime Minister Yousuf Ra
Published 19 Mar, 2012 12:00am
Zaheer takes over as new ISI chief

Zaheer takes over as new ISI chief

Amid fresh challenges on national and international fronts, Lieutenant General Zaheer ul-Islam took over as new chief of Inter Service Intelligence (ISI), the premier spy agency of Pakistan. The 56-year old Zaheer was appointed by Prime Minister Yousuf Ra
Published 19 Mar, 2012 12:00am
Chinese writers seek $8 million from Apple in piracy row

Chinese writers seek $8 million from Apple in piracy row

A group of Chinese writers who accuse Apple''s online store for selling pirated copies of their books is seeking $8 million in compensation from the US firm, state media said Sunday. The group has filed the 50 million yuan claim against Apple on behalf of
Published 19 Mar, 2012 12:00am
Chinese writers seek $8 million from Apple in piracy row

Chinese writers seek $8 million from Apple in piracy row

A group of Chinese writers who accuse Apple's online store for selling pirated copies of their books is seeking $8 million in compensation from the US firm, state media said Sunday. The group has filed the 50 million yuan claim against Apple on behalf of
Published 19 Mar, 2012 12:00am
Chinese writers seek $8 million from Apple in piracy row

Chinese writers seek $8 million from Apple in piracy row

A group of Chinese writers who accuse Apple's online store for selling pirated copies of their books is seeking $8 million in compensation from the US firm, state media said Sunday. The group has filed the 50 million yuan claim against Apple on behalf of
Published 19 Mar, 2012 12:00am
LSE to establish spot commodity trading platform

LSE to establish spot commodity trading platform

Lahore Stock Exchange (LSE) has decided to establish Spot Commodity Trading Platform through a separate subsidiary by using mobile financial transaction technology, reflecting a major initiative for the farmer''s community.
Published 19 Mar, 2012 12:00am
LSE to establish spot commodity trading platform

LSE to establish spot commodity trading platform

Lahore Stock Exchange (LSE) has decided to establish Spot Commodity Trading Platform through a separate subsidiary by using mobile financial transaction technology, reflecting a major initiative for the farmer's community.
Published 19 Mar, 2012 12:00am
LSE to establish spot commodity trading platform

LSE to establish spot commodity trading platform

Lahore Stock Exchange (LSE) has decided to establish Spot Commodity Trading Platform through a separate subsidiary by using mobile financial transaction technology, reflecting a major initiative for the farmer's community.
Published 19 Mar, 2012 12:00am
Anti-Communist pastor Gauck elected German president

Anti-Communist pastor Gauck elected German president

Joachim Gauck, a former Lutheran pastor and human rights activist from communist East Germany, was elected president of Europe's most powerful country on Sunday, creating a potential political headache for Chancellor Angela Merkel.
Published 19 Mar, 2012 12:00am
Anti-Communist pastor Gauck elected German president

Anti-Communist pastor Gauck elected German president

Joachim Gauck, a former Lutheran pastor and human rights activist from communist East Germany, was elected president of Europe's most powerful country on Sunday, creating a potential political headache for Chancellor Angela Merkel.
Published 19 Mar, 2012 12:00am
Blast hits Aleppo; clashes and protests across Syria

Blast hits Aleppo; clashes and protests across Syria

A car bomb ripped through a residential area of Syria's second city Aleppo on Sunday, as activists reported heavy clashes across the country between state forces and rebels fighting to overthrow President Bashar al-Assad.
Published 19 Mar, 2012 12:00am
Blast hits Aleppo; clashes and protests across Syria

Blast hits Aleppo; clashes and protests across Syria

A car bomb ripped through a residential area of Syria's second city Aleppo on Sunday, as activists reported heavy clashes across the country between state forces and rebels fighting to overthrow President Bashar al-Assad.
Published 19 Mar, 2012 12:00am
India''s railway minister quits

India''s railway minister quits

India''s railway minister quit on Sunday after he raised fares on the vast but creaking network, underscoring the government''s inability to take unpopular policy steps and adding to speculation the unsteady ruling coalition will fall apart.
Published 19 Mar, 2012 12:00am
India's railway minister quits

India's railway minister quits

India's railway minister quit on Sunday after he raised fares on the vast but creaking network, underscoring the government's inability to take unpopular policy steps and adding to speculation the unsteady ruling coalition will fall apart.
Published 19 Mar, 2012 12:00am
India's railway minister quits

India's railway minister quits

India's railway minister quit on Sunday after he raised fares on the vast but creaking network, underscoring the government's inability to take unpopular policy steps and adding to speculation the unsteady ruling coalition will fall apart.
Published 19 Mar, 2012 12:00am
KRC leader, ASI among three killed in Lyari

KRC leader, ASI among three killed in Lyari

Three persons including a leader of Katchi Rabita Committee (KRC) were killed late Sunday night, when unidentified gunmen opened fire on people sitting at a hotel in Lyari area, Aaj News reported. According to the channel, unidentified men opened fire on
Published 19 Mar, 2012 12:00am
KRC leader, ASI among three killed in Lyari

KRC leader, ASI among three killed in Lyari

Three persons including a leader of Katchi Rabita Committee (KRC) were killed late Sunday night, when unidentified gunmen opened fire on people sitting at a hotel in Lyari area, Aaj News reported. According to the channel, unidentified men opened fire on
Published 19 Mar, 2012 12:00am
India beat Pakistan by six wickets

India beat Pakistan by six wickets

Virat Kohli smashed a blistering 183 off 148 balls as India produced their highest ever run chase to beat Pakistan by six-wickets on Sunday and keep alive their hopes of reaching the Asia Cup final. Chasing a daunting total of 330, India pulled off a thri
Published 19 Mar, 2012 12:00am
India beat Pakistan by six wickets

India beat Pakistan by six wickets

Virat Kohli smashed a blistering 183 off 148 balls as India produced their highest ever run chase to beat Pakistan by six-wickets on Sunday and keep alive their hopes of reaching the Asia Cup final. Chasing a daunting total of 330, India pulled off a thri
Published 19 Mar, 2012 12:00am
Futures open interest declines by 3.9 percent

Futures open interest declines by 3.9 percent

Total futures open interest position during the week declined by Rs 94 million, down 3.9 percent on week-on-week basis to stand at Rs 2.3 billion. The average daily volumes at the futures counter declined by 10.7 percent on week-on-week basis to 13.1 mill
Published 19 Mar, 2012 12:00am
Futures open interest declines by 3.9 percent

Futures open interest declines by 3.9 percent

Total futures open interest position during the week declined by Rs 94 million, down 3.9 percent on week-on-week basis to stand at Rs 2.3 billion. The average daily volumes at the futures counter declined by 10.7 percent on week-on-week basis to 13.1 mill
Published 19 Mar, 2012 12:00am
Futures open interest declines by 3.9 percent

Futures open interest declines by 3.9 percent

Total futures open interest position during the week declined by Rs 94 million, down 3.9 percent on week-on-week basis to stand at Rs 2.3 billion. The average daily volumes at the futures counter declined by 10.7 percent on week-on-week basis to 13.1 mill
Published 19 Mar, 2012 12:00am
Futures open interest declines by 3.9 percent

Futures open interest declines by 3.9 percent

Total futures open interest position during the week declined by Rs 94 million, down 3.9 percent on week-on-week basis to stand at Rs 2.3 billion. The average daily volumes at the futures counter declined by 10.7 percent on week-on-week basis to 13.1 mill
Published 19 Mar, 2012 12:00am
Index down 55.62 points

Index down 55.62 points

After witnessing a range-bound activity during the outgoing week ended March 16, 2012, the KSE-100 index finally closed at the level of 13,297.12 points, down 55.62 points on week-on-week basis.
Published 19 Mar, 2012 12:00am
Index down 55.62 points

Index down 55.62 points

After witnessing a range-bound activity during the outgoing week ended March 16, 2012, the KSE-100 index finally closed at the level of 13,297.12 points, down 55.62 points on week-on-week basis.
Published 19 Mar, 2012 12:00am
Index down 55.62 points

Index down 55.62 points

After witnessing a range-bound activity during the outgoing week ended March 16, 2012, the KSE-100 index finally closed at the level of 13,297.12 points, down 55.62 points on week-on-week basis.
Published 19 Mar, 2012 12:00am
Asian nations to double currency swap deal

Asian nations to double currency swap deal

Japan and 12 other Asian countries will likely agree to double the amount of funds available under a regional currency swap pact amid uncertainty over the European debt crisis, a report said Sunday. Japan, China, South Korea and the 10 members of the Asso
Published 19 Mar, 2012 12:00am
Asian nations to double currency swap deal

Asian nations to double currency swap deal

Japan and 12 other Asian countries will likely agree to double the amount of funds available under a regional currency swap pact amid uncertainty over the European debt crisis, a report said Sunday. Japan, China, South Korea and the 10 members of the Asso
Published 19 Mar, 2012 12:00am
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