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Print - 2012-06-03
Qureshi terms budget a meaningless document

Qureshi terms budget a meaningless document

The budget for the next fiscal year is meaningless in view of the government's performance figures, Vice-Chairman of Pakistan Tehreek-e-Insaf Makhdoom Shah Mehmood Qureshi said on Saturday. Terming the budget a jugglery of figures, he said that the govern
Published 03 Jun, 2012 12:00am
Gold posts historic single-day high

Gold posts historic single-day high

Gold price on Saturday posted a historic single day increase of Rs 1,650 per tola to Rs 57,100 following a big rise in the yellow metal price on the global market by 71 dollars an ounce, traders said. Talking to Business Recorder traders said gold
Published 03 Jun, 2012 12:00am
Quarantine issue: Russia threatens to ban fruit imports from Pakistan

Quarantine issue: Russia threatens to ban fruit imports from Pakistan

Russia is learnt to have threatened that it may ban fruit imports from Pakistan because of their lower quality and unreliable quarantine standards. According to sources, the Russian quarantine department recently sent a letter to its counterpart, the Mini
Published 03 Jun, 2012 12:00am
Quarantine issue: Russia threatens to ban fruit imports from Pakistan

Quarantine issue: Russia threatens to ban fruit imports from Pakistan

Russia is learnt to have threatened that it may ban fruit imports from Pakistan because of their lower quality and unreliable quarantine standards. According to sources, the Russian quarantine department recently sent a letter to its counterpart, the Mini
Published 03 Jun, 2012 12:00am
Quarantine issue: Russia threatens to ban fruit imports from Pakistan

Quarantine issue: Russia threatens to ban fruit imports from Pakistan

Russia is learnt to have threatened that it may ban fruit imports from Pakistan because of their lower quality and unreliable quarantine standards. According to sources, the Russian quarantine department recently sent a letter to its counterpart, the Mini
Published 03 Jun, 2012 12:00am
FBR issues CBIs to all MCCs

FBR issues CBIs to all MCCs

The Federal Board of Revenue has set up three new Directorate Generals of Transit Trade, Reforms and Automation, Risk Management and Intellectual Property Rights Enforcement in view of massive increase in quantum of customs operations due to transit trade
Published 03 Jun, 2012 12:00am
FBR issues CBIs to all MCCs

FBR issues CBIs to all MCCs

The Federal Board of Revenue has set up three new Directorate Generals of Transit Trade, Reforms and Automation, Risk Management and Intellectual Property Rights Enforcement in view of massive increase in quantum of customs operations due to transit trade
Published 03 Jun, 2012 12:00am
FBR issues CBIs to all MCCs

FBR issues CBIs to all MCCs

The Federal Board of Revenue has set up three new Directorate Generals of Transit Trade, Reforms and Automation, Risk Management and Intellectual Property Rights Enforcement in view of massive increase in quantum of customs operations due to transit trade
Published 03 Jun, 2012 12:00am
July-May: Rs 1,631 billion provisional collection, says Rizvi

July-May: Rs 1,631 billion provisional collection, says Rizvi

Chairman Federal Board of Revenue (FBR) Mumtaz Haider Rizvi said on Saturday that the FBR had provisionally collected Rs 1, 631 billion during July-May (2012-2013) against Rs 1, 309 billion in the corresponding period of last fiscal year, reflecting an in
Published 03 Jun, 2012 12:00am
July-May: Rs 1,631 billion provisional collection, says Rizvi

July-May: Rs 1,631 billion provisional collection, says Rizvi

Chairman Federal Board of Revenue (FBR) Mumtaz Haider Rizvi said on Saturday that the FBR had provisionally collected Rs 1, 631 billion during July-May (2012-2013) against Rs 1, 309 billion in the corresponding period of last fiscal year, reflecting an in
Published 03 Jun, 2012 12:00am
July-May: Rs 1,631 billion provisional collection, says Rizvi

July-May: Rs 1,631 billion provisional collection, says Rizvi

Chairman Federal Board of Revenue (FBR) Mumtaz Haider Rizvi said on Saturday that the FBR had provisionally collected Rs 1, 631 billion during July-May (2012-2013) against Rs 1, 309 billion in the corresponding period of last fiscal year, reflecting an in
Published 03 Jun, 2012 12:00am
'Big Four' to audit Spain's banking sector

'Big Four' to audit Spain's banking sector

Spain has picked the "Big Four" accounting firms KPMG, PwC, Deloitte and Ernst & Young to carry a full, individual audit of its ailing banks, a source with knowledge of the decision told Reuters on Saturday. The review, which should take a few months, wil
Published 03 Jun, 2012 12:00am
US drone strike kills three

US drone strike kills three

A US drone strike targeting a vehicle in Pakistan's north-western tribal belt killed at least three militants on Saturday, security officials said, the latest in a recent spate of attacks. The strike - the sixth in 11 days - took place in Khawashi Khel vi
Published 03 Jun, 2012 12:00am
US drone strike kills three

US drone strike kills three

A US drone strike targeting a vehicle in Pakistan's north-western tribal belt killed at least three militants on Saturday, security officials said, the latest in a recent spate of attacks. The strike - the sixth in 11 days - took place in Khawashi Khel vi
Published 03 Jun, 2012 12:00am
Wassan's, Palijo's portfolios withdrawn

Wassan's, Palijo's portfolios withdrawn

Sindh Chief Minister Syed Qaim Ali Shah withdrew the portfolio of the culture department from Sassui Palijo, a notification issued here on Saturday said. Sources close to Sassui Palijo told Business Recorder that the Services, General Administratio
Published 03 Jun, 2012 12:00am
Wassan's, Palijo's portfolios withdrawn

Wassan's, Palijo's portfolios withdrawn

Sindh Chief Minister Syed Qaim Ali Shah withdrew the portfolio of the culture department from Sassui Palijo, a notification issued here on Saturday said. Sources close to Sassui Palijo told Business Recorder that the Services, General Administratio
Published 03 Jun, 2012 12:00am
Myanmar abandons nuclear research

Myanmar abandons nuclear research

Myanmar has abandoned research on a nuclear programme that never progressed very far, and has stepped back from close military and political ties with North Korea, the Southeast Asian country's defence minister said on Saturday. News reports two years ago
Published 03 Jun, 2012 12:00am
Myanmar abandons nuclear research

Myanmar abandons nuclear research

Myanmar has abandoned research on a nuclear programme that never progressed very far, and has stepped back from close military and political ties with North Korea, the Southeast Asian country's defence minister said on Saturday. News reports two years ago
Published 03 Jun, 2012 12:00am
Rs 8.95 billion proposed for CAD Ministry's expenditures

Rs 8.95 billion proposed for CAD Ministry's expenditures

A total of Rs 8.95 billion has been proposed for expenditures, salaries and other expenses of the newly created Ministry of Capital Administration and Development (CAD) after the passage of the 18th Constitutional Amendment in budget 2012-13. According to
Published 03 Jun, 2012 12:00am
Rs 8.95 billion proposed for CAD Ministry's expenditures

Rs 8.95 billion proposed for CAD Ministry's expenditures

A total of Rs 8.95 billion has been proposed for expenditures, salaries and other expenses of the newly created Ministry of Capital Administration and Development (CAD) after the passage of the 18th Constitutional Amendment in budget 2012-13. According to
Published 03 Jun, 2012 12:00am
Rs 8.95 billion proposed for CAD Ministry''s expenditures

Rs 8.95 billion proposed for CAD Ministry''s expenditures

A total of Rs 8.95 billion has been proposed for expenditures, salaries and other expenses of the newly created Ministry of Capital Administration and Development (CAD) after the passage of the 18th Constitutional Amendment in budget 2012-13. According to
Published 03 Jun, 2012 12:00am
India gasoline price increase trimmed after furore

India gasoline price increase trimmed after furore

India's state-run oil refiners have agreed to a partial rollback of last month's gasoline price increase, a move that was expected after a public outcry over the steepest rise in the country's history. With effect from Sunday, retail gasoline prices will
Published 03 Jun, 2012 12:00am
India gasoline price increase trimmed after furore

India gasoline price increase trimmed after furore

India's state-run oil refiners have agreed to a partial rollback of last month's gasoline price increase, a move that was expected after a public outcry over the steepest rise in the country's history. With effect from Sunday, retail gasoline prices will
Published 03 Jun, 2012 12:00am
India gasoline price increase trimmed after furore

India gasoline price increase trimmed after furore

India''s state-run oil refiners have agreed to a partial rollback of last month''s gasoline price increase, a move that was expected after a public outcry over the steepest rise in the country''s history. With effect from Sunday, retail gasoline prices wi
Published 03 Jun, 2012 12:00am
S&P reaffirms Bangladesh's ratings for 2012

S&P reaffirms Bangladesh's ratings for 2012

Standard & Poor's Ratings Services reaffirmed its 'BB-' long-term and 'B' short-term foreign and local currency sovereign credit ratings on Bangladesh with a stable outlook, a statement of the country's central bank said on Saturday. The country got the s
Published 03 Jun, 2012 12:00am
S&P reaffirms Bangladesh's ratings for 2012

S&P reaffirms Bangladesh's ratings for 2012

Standard & Poor's Ratings Services reaffirmed its 'BB-' long-term and 'B' short-term foreign and local currency sovereign credit ratings on Bangladesh with a stable outlook, a statement of the country's central bank said on Saturday. The country got the s
Published 03 Jun, 2012 12:00am
S&P reaffirms Bangladesh''s ratings for 2012

S&P reaffirms Bangladesh''s ratings for 2012

Standard & Poor''s Ratings Services reaffirmed its ''BB-'' long-term and ''B'' short-term foreign and local currency sovereign credit ratings on Bangladesh with a stable outlook, a statement of the country''s central bank said on Saturday. The country got
Published 03 Jun, 2012 12:00am
Energy crisis: budget offers no relief: PML-N

Energy crisis: budget offers no relief: PML-N

Pakistan Muslim League-Nawaz (PML-N) on Saturday termed the federal budget 2012-13 disappointing and said that it lacked remedial measures to cope with the looming energy crisis or measures to recover written off loans amounting to Rs 300 billion, necessa
Published 03 Jun, 2012 12:00am
Energy crisis: budget offers no relief: PML-N

Energy crisis: budget offers no relief: PML-N

Pakistan Muslim League-Nawaz (PML-N) on Saturday termed the federal budget 2012-13 disappointing and said that it lacked remedial measures to cope with the looming energy crisis or measures to recover written off loans amounting to Rs 300 billion, necessa
Published 03 Jun, 2012 12:00am
Hoti calls for shifting Dr Afridi to some other place

Hoti calls for shifting Dr Afridi to some other place

Chief Minister of Khyber Pakhtunkhwa, Amir Haider Khan Hoti has requested the Federal Government to shift Dr Shakeel Afridi to any other place in the country, a private TV channel reported Saturday. Talking to the channel, he said that Dr Afridi's life is
Published 03 Jun, 2012 12:00am
Hoti calls for shifting Dr Afridi to some other place

Hoti calls for shifting Dr Afridi to some other place

Chief Minister of Khyber Pakhtunkhwa, Amir Haider Khan Hoti has requested the Federal Government to shift Dr Shakeel Afridi to any other place in the country, a private TV channel reported Saturday. Talking to the channel, he said that Dr Afridi's life is
Published 03 Jun, 2012 12:00am
Farmers' organisations term budget anti-agriculture

Farmers' organisations term budget anti-agriculture

Representatives of different farmers' organisations terming the federal budget 2012-13 as anti-agriculture and anti-farmers have said that there is no mention of steps for development of agriculture, which contributes over 23 per cent in the national gros
Published 03 Jun, 2012 12:00am
Farmers' organisations term budget anti-agriculture

Farmers' organisations term budget anti-agriculture

Representatives of different farmers' organisations terming the federal budget 2012-13 as anti-agriculture and anti-farmers have said that there is no mention of steps for development of agriculture, which contributes over 23 per cent in the national gros
Published 03 Jun, 2012 12:00am
Underage girl's body found at Safoora Goth

Underage girl's body found at Safoora Goth

Police on Saturday recovered the body of an underage girl, who had been missing for over a month from Gulshan-e-Iqbal, was found from an under-construction building located near Safoora Goth on Saturday. According to the SHO Sacchal police station, the bo
Published 03 Jun, 2012 12:00am
Condolence

Condolence

President Asif Ali Zardari has expressed heartfelt grief and sorrow on the sad demise of Ata Rabbani, father of Senator Mian Raza Rabbani. In his condolence message, the President prayed to Almighty to grant eternal peace to the departed soul and to give
Published 03 Jun, 2012 12:00am
MQM presents 'shadow surplus budget'

MQM presents 'shadow surplus budget'

Unveiling the shadow provincial budget 2012-13, the Muttahida Qaumi Movement (MQM), a major partner in the Sindh government, has proposed Rs 484 billion surplus budget with a proposed allocation of Rs 160 billion for development projects. The MQM suggeste
Published 03 Jun, 2012 12:00am
MQM presents 'shadow surplus budget'

MQM presents 'shadow surplus budget'

Unveiling the shadow provincial budget 2012-13, the Muttahida Qaumi Movement (MQM), a major partner in the Sindh government, has proposed Rs 484 billion surplus budget with a proposed allocation of Rs 160 billion for development projects. The MQM suggeste
Published 03 Jun, 2012 12:00am
Anwar highlights importance of archival collections

Anwar highlights importance of archival collections

State Bank of Pakistan Governor Yaseen Anwar has said that archival collections constitute an important part of society's cultural and intellectual heritage, thereby contributing to the formation of a nation's collective memory.
Published 03 Jun, 2012 12:00am
PTCL organises retailers' conference

PTCL organises retailers' conference

The Pakistan Telecommunication Company Limited (PTCL), held a rigorous retailers' conference here as part of its sustained national outreach for retailers and distributors. An official of the company said on Saturday that the conference was attended by a
Published 03 Jun, 2012 12:00am
Five more die in targeted killings

Five more die in targeted killings

There was no let up in the ongoing spate of targeted killings on Saturday, as five more persons, including a former activists of the Pakistan Peoples Party, were killed in various parts of the Sindh metropolis here on Saturday. According to police and res
Published 03 Jun, 2012 12:00am
Upcoming rains: Sindh minister reviews measures

Upcoming rains: Sindh minister reviews measures

In order to cope with fourth coming anticipated heavy rains minimise the losses a comprehensive plan was discussed in the meeting presided by Sindh Minister for Fisheries at ex-Zila Nazim Secretariat Hyderabad. Addressing the meeting, Sindh Minister direc
Published 03 Jun, 2012 12:00am
Budget lacks stimulus measures: industrialists

Budget lacks stimulus measures: industrialists

The budget for the next fiscal year falls short of the industry's expectations, Chairman of the Site Association of Industry (SAI) Mohammad Irfan Moton said on Saturday. He saidm that the time was ripe for an aggressive budget but "unfortunately that hasn
Published 03 Jun, 2012 12:00am
Budget lacks stimulus measures: industrialists

Budget lacks stimulus measures: industrialists

The budget for the next fiscal year falls short of the industry's expectations, Chairman of the Site Association of Industry (SAI) Mohammad Irfan Moton said on Saturday. He saidm that the time was ripe for an aggressive budget but "unfortunately that hasn
Published 03 Jun, 2012 12:00am
Previous rulers responsible for power crisis: Firdous

Previous rulers responsible for power crisis: Firdous

Federal Minister for Regulations and Services, Dr Firdous Ashiq Awan on Saturday said that the previous rulers were accountable for failing to produce electricity during their tenures resultantly gap between demand and supply widen. Speaking at ceremony s
Published 03 Jun, 2012 12:00am
Punjab chief minister reviews law & order situation, energy crisis

Punjab chief minister reviews law & order situation, energy crisis

Punjab Chief Minister Muhammad Shahbaz Sharif presided over a meeting to review the law and order situation in the province here on Saturday at his tent office set up at Minar-e-Pakistan. Provincial Minister for Law Rana Sanaullah Khan, Members National a
Published 03 Jun, 2012 12:00am
'Punjab government striving to achieve 88 percent literacy rate'

'Punjab government striving to achieve 88 percent literacy rate'

Minister for Education Punjab, Mian Mujtaba Shuja-ur-Rehman has said that provincial government is working hard to achieve 88 percent literacy rate till 2015 so that to fulfil the international commitment under millennium development goals. He said that 2
Published 03 Jun, 2012 12:00am
Paapam welcomes changes in tax regimes

Paapam welcomes changes in tax regimes

Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) Chairman Syed Nabeel Hashmi has termed the federal budget 2012-13 normal, as under the circumstances it is not very bad. He said that changes in the income tax and sales tax r
Published 03 Jun, 2012 12:00am
Paapam welcomes changes in tax regimes

Paapam welcomes changes in tax regimes

Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) Chairman Syed Nabeel Hashmi has termed the federal budget 2012-13 normal, as under the circumstances it is not very bad. He said that changes in the income tax and sales tax r
Published 03 Jun, 2012 12:00am
Mubarak's conviction and presidential runoff

Mubarak's conviction and presidential runoff

Deposed Egyptian president Hosni Mubarak, 84, has been sentenced to life imprisonment for his role in killing protesters (about 850 people were killed in the 18-day anti-Mubarak revolt) after a trial. The ruling comes at a politically fraught time for
Published 03 Jun, 2012 12:00am
A friend was here

A friend was here

As Pakistan's international isolation deepens and it looks around, China instantly comes into sight as one of the few who still stand steadfast in their friendship. Turkey's prime minister Erdogan was here about two weeks ago, and now comes China's For
Published 03 Jun, 2012 12:00am
Underestimating challenges to economy

Underestimating challenges to economy

By all indications, the year 2011-12 has been very unsparing for Pakistan's economy. Apparently, a host of unfavourable factors like severe energy shortages, political uncertainty, fight against terrorism and increasing lawlessness had constrained the eco
Published 03 Jun, 2012 12:00am
Joy in rural Somalia as al-Shabaab loses ground

Joy in rural Somalia as al-Shabaab loses ground

For the first time in three-and-a-half years Somali farmers in the strategic Afgoye region outside Mogadishu say they can breath a sigh of relief, as the Islamist insurgent group al-Shabaab has been ousted from their lands. Farmer Hassan Arab says he is o
Published 03 Jun, 2012 12:00am
Most significant public gathering ignored by media

Most significant public gathering ignored by media

A most significant and critical public gathering on Sunday, the 13th May, was held in Korangi Township Karachi, under 'Mohajir Suba Tehreek', that was largely ignored by both the print and electronic media, except two private TV channels. The driving forc
Published 03 Jun, 2012 12:00am
Training academy for prosecutors: PPPD sings MoU with Germany

Training academy for prosecutors: PPPD sings MoU with Germany

Punjab Prosecution and Police Department here on Saturday signed a Memorandum of Understanding (MoU) with German authorities for establishing a training academy for prosecutors in the province. The MOU was signed by Prosecutor General Sadaqat Ali Khan, Ad
Published 03 Jun, 2012 12:00am
Punjab minister rejects budget

Punjab minister rejects budget

Provincial Minister for Zakat and Ushr Malik Nadeem Kamran has said that Peoples Party's government has presented a budget of deficit worth Rs 12 billion as federal government remained busy in looting national exchequer during last four years. Commenting
Published 03 Jun, 2012 12:00am
Budget is of no help: PTEA Chairman

Budget is of no help: PTEA Chairman

The budget is full of wrong allocation of funds and misplacement of priorities. Budget makers have failed to realise the importance of major irritations besetting the economy and evolving appropriate strategy for their solutions, Pakistan Textile Exporter
Published 03 Jun, 2012 12:00am
Budget is of no help: PTEA Chairman

Budget is of no help: PTEA Chairman

The budget is full of wrong allocation of funds and misplacement of priorities. Budget makers have failed to realise the importance of major irritations besetting the economy and evolving appropriate strategy for their solutions, Pakistan Textile Exporter
Published 03 Jun, 2012 12:00am
Sudan, Southern Sudan defence ministers to discuss border security

Sudan, Southern Sudan defence ministers to discuss border security

The defence ministers of Sudan and South Sudan are set to meet in the Ethiopian capital on Monday to discuss border security, a South Sudanese official said. "The extraordinary meeting will discuss the establishment of the various mechanism, including the
Published 03 Jun, 2012 12:00am
Sharapova storms into last 16; Li, Kvitova struggle

Sharapova storms into last 16; Li, Kvitova struggle

Maria Sharapova stormed into the French Open last 16 on Saturday, brushing aside China's Peng Shuai 6-2, 6-1, while semi-final rivals Li Na and Petra Kvitova laboured to reach the second week. Second seed Sharapova fired 27 winners past 28th seed Peng in
Published 03 Jun, 2012 12:00am
Welbeck strikes as England down Belgium

Welbeck strikes as England down Belgium

England wrapped up their pre-tournament preparations for Euro 2012 with a 1-0 win over Belgium at Wembley on Saturday courtesy of Danny Welbeck's maiden international goal. Manchester United youngster Welbeck struck on 37 minutes to make it two wins out o
Published 03 Jun, 2012 12:00am
Zaka expresses optimism for revival of Pak-India cricket ties

Zaka expresses optimism for revival of Pak-India cricket ties

Pakistan Cricket Board (PCB) Chairman Chaudhry Zaka Ashraf has expressed optimism for the revival of cricket ties between India and Pakistan. Talking to reporters here at the Lahore Airport on return from New Delhi on Saturday, Zaka said they would soon a
Published 03 Jun, 2012 12:00am
Bolt promises to 'wow' London 2012

Bolt promises to 'wow' London 2012

Usain Bolt has promised to "wow" the world with his performances at the 2012 London Olympic Games. The Jamaica sprinter is the reigning Olympic 100 metres and 200 metres champion after some dazzling displays in Beijing four years ago, where he also helped
Published 03 Jun, 2012 12:00am
England beat Pakistan

England beat Pakistan

Pakistan on Saturday faced worst defeat in the Azlan Shah Cup after losing to Great Britain 2-1, Aaj News reported. Pakistan finished last for the first time in the history of the Cup. Abdul Hassem Khan scored as Pakistan took lead in the 15th minu
Published 03 Jun, 2012 12:00am
Stoner takes pole in Catalunya MotoGP

Stoner takes pole in Catalunya MotoGP

World champion Casey Stoner will start on pole in the Catalunya motorcycling Grand Prix Sunday after the Honda rider posted the quickest time in qualifying under the sun at the Montmelo circuit. The Australian picked up the 40th pole of his career Saturda
Published 03 Jun, 2012 12:00am
Investors again reject Ukraine's hryvnia bonds

Investors again reject Ukraine's hryvnia bonds

Investors snubbed sales of local Ukrainian bonds for a second time this year, offering no bids on Thursday at a regular weekly auction, the finance ministry said. The ministry was offering one-, three-, five- and seven-year hryvnia bonds for sale. Investo
Published 03 Jun, 2012 12:00am
Investors again reject Ukraine's hryvnia bonds

Investors again reject Ukraine's hryvnia bonds

Investors snubbed sales of local Ukrainian bonds for a second time this year, offering no bids on Thursday at a regular weekly auction, the finance ministry said. The ministry was offering one-, three-, five- and seven-year hryvnia bonds for sale. Investo
Published 03 Jun, 2012 12:00am
Sri Lankan shares rebound

Sri Lankan shares rebound

Sri Lanka's stock market rose more than 1 percent on Friday with retail and foreign investors buying shares in thin volumes in an overall skittish market concerned about a weak Sri Lankan rupee and the outlook for interest rates. The main index gained 1.1
Published 03 Jun, 2012 12:00am
ADR report: Foreign shares down on concerns about global growth

ADR report: Foreign shares down on concerns about global growth

US-listed shares of foreign companies fell on Friday, led by losses in Asian companies, and were on track for almost a 3 percent decline for the week. Bearish sentiment prevailed across the board after a much weaker-than-expected US May payrolls report. T
Published 03 Jun, 2012 12:00am
Global IPOs face freeze after diamond float scratched

Global IPOs face freeze after diamond float scratched

London luxury jeweller Graff Diamonds ditched its $1 billion initial public offering on Thursday, with volatile stock markets threatening to freeze an already moribund market for new listings from Hong Kong to New York. Globally, the amount raised from st
Published 03 Jun, 2012 12:00am
India's 10-year bond yield eases

India's 10-year bond yield eases

India's benchmark 10-year bond prices gained for a second consecutive session on Friday, pushing the yield at one point to a one-and-a-half month low, on hopes the central bank will cut interest rates to bolster sagging domestic growth. Traders say Thursd
Published 03 Jun, 2012 12:00am
India's 10-year bond yield eases

India's 10-year bond yield eases

India's benchmark 10-year bond prices gained for a second consecutive session on Friday, pushing the yield at one point to a one-and-a-half month low, on hopes the central bank will cut interest rates to bolster sagging domestic growth. Traders say Thursd
Published 03 Jun, 2012 12:00am
TSX sinks as growth fears intensify

TSX sinks as growth fears intensify

Canadian stocks tumbled on Friday, led by energy and financial issues as economic data on both sides of the Atlantic raised fears of a global slump and sent investors out of riskier assets into gold and other safe havens. After one of the worst Mays in re
Published 03 Jun, 2012 12:00am
Weak jobs data knock US yields to new lows

Weak jobs data knock US yields to new lows

US government debt yields dropped to record lows on Friday after a stunningly weak report on US job growth stoked worries of an economic slowdown and raised bets for a third round of bond purchases from the Federal Reserve. US Treasuries just finished the
Published 03 Jun, 2012 12:00am
Weak jobs data knock US yields to new lows

Weak jobs data knock US yields to new lows

US government debt yields dropped to record lows on Friday after a stunningly weak report on US job growth stoked worries of an economic slowdown and raised bets for a third round of bond purchases from the Federal Reserve. US Treasuries just finished the
Published 03 Jun, 2012 12:00am
JGB yields plumb new lows

JGB yields plumb new lows

Japanese government bonds extended gains, pushing benchmark yields to a 9-year low on Friday, on continuing unease about Europe's debt crisis and rekindled fears of a Chinese slowdown. Spain's borrowing costs have surged this week on worries it may need t
Published 03 Jun, 2012 12:00am
JGB yields plumb new lows

JGB yields plumb new lows

Japanese government bonds extended gains, pushing benchmark yields to a 9-year low on Friday, on continuing unease about Europe's debt crisis and rekindled fears of a Chinese slowdown. Spain's borrowing costs have surged this week on worries it may need t
Published 03 Jun, 2012 12:00am
Latam stocks drop on global growth jitters

Latam stocks drop on global growth jitters

Latin American stocks dropped on Friday after the United States posted its weakest monthly job growth in a year and data showed Brazil's economy grew slower than expected in the first quarter, dampening investor optimism over a global economic recovery.
Published 03 Jun, 2012 12:00am
Wall Street sinks on jobs data, Dow negative for 2012

Wall Street sinks on jobs data, Dow negative for 2012

US stocks fell more than 2 percent on Friday, dragging the Dow into negative territory for the year after a dismal US jobs report added to fears that Europe's spiralling debt crisis was dragging down the world economy. The S&P 500 closed at its lowest sin
Published 03 Jun, 2012 12:00am
Peacemaker Annan talks tough to Assad

Peacemaker Annan talks tough to Assad

International envoy Kofi Annan on Saturday criticised President Bashar al-Assad for failing to comply with a peace plan to end the Syria conflict and said his forces were carrying out atrocities, arbitrary arrests and other abuses regardless of the world
Published 03 Jun, 2012 12:00am
Queen's racecourse visit launches jubilee

Queen's racecourse visit launches jubilee

Queen Elizabeth II received a rapturous welcome from a flag-waving crowd of more than 100,000 at a British racecourse Saturday as she kicked off four days of national celebrations for her diamond jubilee. Gun salutes rang out across the country before the
Published 03 Jun, 2012 12:00am
Putin jabs France on Assad, denies weapons help

Putin jabs France on Assad, denies weapons help

European leaders tried Friday to convince Russian President Vladimir Putin to support a harder course against Syrian President Bashar al-Assad. But while German Chancellor Angela Merkel and French President Fancois Hollande said after meeting separately w
Published 03 Jun, 2012 12:00am
Clinton tours Arctic

Clinton tours Arctic

US Secretary of State Hillary Clinton boarded a research ship on Saturday to tour the Arctic, where the world's big powers are vying for control of vast deposits of oil, gas and minerals that are becoming available as polar ice recedes. She visited Tromso
Published 03 Jun, 2012 12:00am
Clinton, Lavrov agree need to work together on Syria

Clinton, Lavrov agree need to work together on Syria

US Secretary of State Hillary Clinton and Russian Foreign Minister Sergei Lavrov on Saturday agreed that they needed to work together on Syria, a US official said. "They both agreed that we've got to work together," the official said, following a telephon
Published 03 Jun, 2012 12:00am
Hong Kong sees first human bird flu case in 18 months

Hong Kong sees first human bird flu case in 18 months

Hong Kong health authorities on Saturday urged the public not to panic after the southern Chinese city reported its first human case of bird flu in 18 months in a two-year-old boy. Authorities said the Chinese boy was in serious condition after testing po
Published 03 Jun, 2012 12:00am
Nato forces rescue four aid workers

Nato forces rescue four aid workers

A Nato rescue team dropped by helicopter in the remote mountains of northern Afghanistan early on Saturday freed four aid workers, including two foreigners, who had been seized by the Taliban last month, the alliance said. The aid workers, employed by Swi
Published 03 Jun, 2012 12:00am
Saudi princess tried to leave luxury hotel without paying

Saudi princess tried to leave luxury hotel without paying

A Saudi princess was caught trying to leave the Shangri-La hotel in Paris without settling a six million euro ($7.4 million) bill for her rooms, police said Saturday, confirming a report in the daily Le Parisien. Maha al-Sudani, the former wife of Saudi A
Published 03 Jun, 2012 12:00am
Florida to continue voter purge in defiance of US warning

Florida to continue voter purge in defiance of US warning

Florida, a key US electoral battleground where the 2000 presidential election was decided by a few hundred ballots, will defy the US Justice Department's warning to stop its effort to purge ineligible voters, a state spokesman said on Saturday. The warnin
Published 03 Jun, 2012 12:00am
Chinese military spending a 'threat': Japan

Chinese military spending a 'threat': Japan

Japan on Saturday expressed concern over what it called a lack of transparency in China's massive defence spending, saying the secrecy posed a "threat" to Tokyo. China's military budget jumped 11.2 percent year on year to $106 billion in 2012, a rise that
Published 03 Jun, 2012 12:00am
CAR president sacks finance minister after coup plot

CAR president sacks finance minister after coup plot

Central African Republic President Francois Bozize sacked former ally Finance Minister Sylvain Ndoutingai, state radio reported on Saturday, two months after he was accused by the government of plotting a coup d'etat. Ndoutingai had been a key adviser of
Published 03 Jun, 2012 12:00am
'Budget to spur industrial growth'

'Budget to spur industrial growth'

This is the first-ever budget that will stimulate industrial growth, President of Multan Chamber of Commerce and Industry (MCCI) Mian Anis A Sheikh said on Saturday. Talking to reporters here after the presentation of the budget, he said that the reductio
Published 03 Jun, 2012 12:00am
Budget has failed to address power crisis: PIAF

Budget has failed to address power crisis: PIAF

Pakistan Industrial and Traders Associations Front (PIAF) has said that budget would hardly be doing any favour to the country's ailing economy, as government did not give any substantive plan to overcome ongoing electricity crisis. The PIAF Chairman Soha
Published 03 Jun, 2012 12:00am
Ad hoc relief rejected

Ad hoc relief rejected

Government employees on Saturday rejected an ad hoc relief of 20 percent in their basic pays, describing the move too meagre. Khalid Mehmood Sanghera, the Divisional President of All-Pakistan Clerks Association, said that the government had promised to in
Published 03 Jun, 2012 12:00am
Impact of budgetary measures on different sectors explained

Impact of budgetary measures on different sectors explained

The Budget FY13 has no major surprises for the capital markets as the newly amended capital gain tax ordinance is now part of Finance Bill, which will bring some certainty to the investors related to tax issues, analysts said. "We maintain our positive st
Published 03 Jun, 2012 12:00am
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