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Print - 2012-06-13
'PEF to spend Rs 6.5 billion for quality education'

'PEF to spend Rs 6.5 billion for quality education'

Chairman Punjab Education Foundation (PEF) Raja Muhammad Anwar said that the Foundation will spend Rs 6.5 billion for imparting quality education among the poor children of the 36 districts of Punjab in the next fiscal year. He was briefing the education
Published 13 Jun, 2012 12:00am
Rs 30 billion allocation sought: Textile exports show massive decline

Rs 30 billion allocation sought: Textile exports show massive decline

Textile exports declined by 1,333 million dollars over the last seven months and if the recommended 30 billion rupees were not allocated in the budget, the downfall of textile export will be of two billion dollars by the end of current fiscal. These appre
Published 13 Jun, 2012 12:00am
SSP directed to investigate in lady lawyer's case

SSP directed to investigate in lady lawyer's case

The Lahore High Court (LHC) directed SSP (investigation) to proceed in accordance with law on an application seeking registration of case against DSP and SHO showing inefficiency that caused death of a lady lawyer Fouzia Bashir. On Tuesday the investigati
Published 13 Jun, 2012 12:00am
Firms mobilised to construct Nai Gaj, Naulong dams

Firms mobilised to construct Nai Gaj, Naulong dams

Following the award of contracts by the Pakistan Water and Power Development Authority (Wapda) for Nai Gaj and Naulong dams, the contractors have been mobilised to the sites to start construction work on the projects. President had directed Wapda to const
Published 13 Jun, 2012 12:00am
FBR chairman inaugurates Atlas Honda plant

FBR chairman inaugurates Atlas Honda plant

The government will support manufacturers through prudent policies and encourage them to enhance capacity and transfer of technology to benefit local consumers and increase exports of Made in Pakistan motorcycles. Federal Board of Revenue (FBR) Chairman M
Published 13 Jun, 2012 12:00am
SPARC demands survey on child labour

SPARC demands survey on child labour

Program Manager, Society for Protection of the Rights of Child (SPARC), Imran Takkar has asked the government to conduct survey of child labour, street children and review the existing laws in the light of United Nations Convention on Rights of the Child
Published 13 Jun, 2012 12:00am
International day against child labour observed

International day against child labour observed

The International Day against Child Labour was observed in Sialkot and Gujranwala districts like other parts of the country on Tuesday. On this occasion a special programme was organised by Child and Social Development Organisation (CSDO) to celebrate Wor
Published 13 Jun, 2012 12:00am
Memogate

Memogate

While submitting its report before the Supreme Court, the Judicial Commission on Memogate scandal has claimed that former ambassador of Pakistan to USA Hussain Haqqani has authored the confidential memo.
Published 13 Jun, 2012 12:00am
Obama's celebrity friends help raise cash - at a cost

Obama's celebrity friends help raise cash - at a cost

US President Barack Obama is arguably the most recognised person in the world. But when it comes to his re-election campaign he needs plenty of help from some other famous people. On Thursday he will be at it again, attending a glamorous New York fundrais
Published 13 Jun, 2012 12:00am
Finance Bill 2012: Attempting to cripple tax justice system

Finance Bill 2012: Attempting to cripple tax justice system

In the Finance Bill 2012, a number of changes have been proposed that can cripple the already ineffective tax justice system-amendments if approved by Parliament would render office of Commissioner of Appeals ineffectual and that of Appellate Tribunal Inl
Published 13 Jun, 2012 12:00am
Budget - a critique

Budget - a critique

There was never a doubt about this budget being awash with populist provisions especially in light of the fact that such tactics are the norm with democratic governments across the world, in fact they even have theories about this. Accordingly, the fanfar
Published 13 Jun, 2012 12:00am
Fort Monroe rape case

Fort Monroe rape case

The case of rape of five girls by personnel of Border Military Police during their visit to Fort Monroe, Dera Ghazi. Khan, is a shocking example of prevalence of criminality and indiscipline among those whose duty it is to provide security to the people.
Published 13 Jun, 2012 12:00am
Fiscal oddities

Fiscal oddities

At a time when fiscal situation was under a great deal of stress, it was expected that the government would be very keen in cutting corners in order to reduce the expenditures to the minimum possible extent. Strangely, however, authorities of the count
Published 13 Jun, 2012 12:00am
BRTS being executed at cost of Rs 21 billion: Shahbaz

BRTS being executed at cost of Rs 21 billion: Shahbaz

On the directives of the Chief Minister Punjab Muhammad Shahbaz Sharif, Bus Rapid Transit System (BRTS) is being executed at a cost of Rs 21 billion in the city for providing world-class transport facilities to the people of Lahore. This was informed duri
Published 13 Jun, 2012 12:00am
Cotton sowing target missed

Cotton sowing target missed

Pakistan has missed cotton sowing target estimated for the current season (2012-13) by over 15 percent, which may hamper the commodity production in the upcoming year, informed sources revealed. Sources in the Ministry of Textile and Industry told Busi
Published 13 Jun, 2012 12:00am
Rs 10.33 billion allocation for health termed insufficient

Rs 10.33 billion allocation for health termed insufficient

The doctors' community of Khyber Pakhtunkhwa on Tuesday termed that the allocation of Rs 10.33 billion as health budget for next financial year 2012-13 wasn't sufficient to improve the service delivery, demanding to increase it at Rs 20billion to address
Published 13 Jun, 2012 12:00am
Government quite serious about literacy rate: Iftikhar

Government quite serious about literacy rate: Iftikhar

Khyber Pakhtunkhwa Minister for Information, Mian Iftikhar Hussain has claimed that ANP led provincial government has allocated huge investment for promotion on education for next fiscal year with four percent ratio of the total GDP, saying that they are
Published 13 Jun, 2012 12:00am
Fate of eight new BT cotton varieties hangs in the balance

Fate of eight new BT cotton varieties hangs in the balance

The fate of 8 new BT cotton verities sent to National Bio-safety Centre to get approval for commercialisation hangs in balance due to administrative controversy, which will affect cotton production in the up-coming season, sources revealed to Business
Published 13 Jun, 2012 12:00am
Lecturer English BPS-17: SPSC holds interview, written test

Lecturer English BPS-17: SPSC holds interview, written test

The Sindh Pubic Service Commission Hyderabad conducted interview written test for the post of Lecturer English BPS-17 (male & female) on 24-05-2012 under Provincial Institute of Teachers Education (PITE), Government of Sindh and declared the candidates ha
Published 13 Jun, 2012 12:00am
JSIL announces successful maturity of JS PSF I

JSIL announces successful maturity of JS PSF I

JS Investments Limited (JSIL) has announced the maturity of JS Principal Secure Fund I (JS PSF I), after successfully completing its tenure of three years and six weeks on June 11, 2012. JS PSF I was launched on April 24, 2009 and has successfully achieve
Published 13 Jun, 2012 12:00am
JSIL announces successful maturity of JS PSF I

JSIL announces successful maturity of JS PSF I

JS Investments Limited (JSIL) has announced the maturity of JS Principal Secure Fund I (JS PSF I), after successfully completing its tenure of three years and six weeks on June 11, 2012. JS PSF I was launched on April 24, 2009 and has successfully achieve
Published 13 Jun, 2012 12:00am
MQM condemns murder of former MPA's brother

MQM condemns murder of former MPA's brother

The Co-ordination Committee of Muttahida Quami Movement (MQM) has strongly condemned the brutal murder of the Syed Qarar Ali, brother of former MPA Syed Shakir Ali, in Sher Shah Kabari (Junk) Market for refusing to pay the extortion money. Syed Zakir Ali,
Published 13 Jun, 2012 12:00am
IPPs left with no option but to seek legal course

IPPs left with no option but to seek legal course

Independent Power Producers (IPPs) in the country that invoked sovereign guarantees have no other option but to seek legal course as their outstanding dues are yet to be cleared by the government despite five legal notices served to the latter, so far.
Published 13 Jun, 2012 12:00am
New Magnum flavours launched

New Magnum flavours launched

Unilever Pakistan launched new Magnum, its flag-ship brand within the Wall's ice-cream portfolio last week end. Nida Butt's original musical "A Royal Remedy" launched the new Magnum Brand Council and the new flavours that will now be available for Pakista
Published 13 Jun, 2012 12:00am
Al Meezan Investments honoured

Al Meezan Investments honoured

Al Meezan Investment Management Limited, a group company of Meezan Bank Limited, has been judged best 'Islamic Asset Management House' for 2012 in Pakistan by the Asset Triple A Awards, an ancillary of The Asset Publishing and Research Limited based in Ho
Published 13 Jun, 2012 12:00am
Al Meezan Investments honoured

Al Meezan Investments honoured

Al Meezan Investment Management Limited, a group company of Meezan Bank Limited, has been judged best 'Islamic Asset Management House' for 2012 in Pakistan by the Asset Triple A Awards, an ancillary of The Asset Publishing and Research Limited based in Ho
Published 13 Jun, 2012 12:00am
Senior auditor designated as SRB officer

Senior auditor designated as SRB officer

Sindh Revenue Board (SRB) on Tuesday designated Senior Auditor as the officer in matter of calling information, for analysing such information and preparing the reports thereon.
Published 13 Jun, 2012 12:00am
Water supplying schemes: Nepra to redetermine power tariff structure

Water supplying schemes: Nepra to redetermine power tariff structure

National Electric Power Regulatory Authority (Nepra) will re-determine the electricity tariff structure for all water supplying schemes across the country if it considers the demand of Karachi Water and Sewerage Board (KWSB) for 50 percent reduction in po
Published 13 Jun, 2012 12:00am
Cost of production of tobacco crop: PTB takes up issue with MoF, MoC

Cost of production of tobacco crop: PTB takes up issue with MoF, MoC

Pakistan Tobacco Board (PTB) has found that some officials of Federal Ministry of Food and Security and growers association are conducting an un-authorised exercise to work out the cost of production of tobacco crop in the area of Swabi and Mardan.
Published 13 Jun, 2012 12:00am
Imran appraises Hague about his party's strategy to defeat militancy

Imran appraises Hague about his party's strategy to defeat militancy

Pakistan Tehreek-e-Insaaf (PTI) Chief Imran Khan Tuesday appraised the visiting British Foreign Secretary William Hague about his party's strategy to defeat militancy, saying they can win the war in 90 days, but not through the use of force.
Published 13 Jun, 2012 12:00am
KASB Securities honoured

KASB Securities honoured

KASB Securities Ltd, Pakistan's leading brokerage firm, has been ranked the Best Domestic Equities House in Pakistan by AsiaMoney, continuing its stronghold on Pakistan's equity markets related polls and awards. The latest recognition follows KASB Securit
Published 13 Jun, 2012 12:00am
Emirates holds workshop

Emirates holds workshop

Emirates Airline held a Travel Agents Workshop in Quetta with the objective to raise awareness about optimising the role of travel agents in the aviation sector of Pakistan along with increasing market share and penetration in Balochistan market.
Published 13 Jun, 2012 12:00am
Director of Mehdi Securities gets 14 years

Director of Mehdi Securities gets 14 years

Accountabi-lity Court has convicted Sh Kamran Mehdi, Chief Executive/Director Mehdi Securities (Pvt) Ltd for 14 years imprisonment with fine of Rs 27.1 million to be recovered in arrears of Land Revenue in a Reference No 27/2010 filed by NAB Punjab.
Published 13 Jun, 2012 12:00am
MQM announces support to traders' strike

MQM announces support to traders' strike

Muttahida Qaumi Movement (MQM) on Tuesday announced to support the strike called by Karachi Tajir Ittehad for Wednesday (today) and expressed full solidarity with the business community. MQM's Co-ordination Committee offered condolences on the tragic mart
Published 13 Jun, 2012 12:00am
'No news for SPCB revival in budget'

'No news for SPCB revival in budget'

Though, PPP-led Sindh government has presented its fifth provincial budget, it could not bring any news for revival or liquidation of Sindh Provincial Co-operative Bank (SPCB). The sub committee of the Cabinet could not meet to review the matter despite p
Published 13 Jun, 2012 12:00am
PML-N FATA stages hunger strike against corruption

PML-N FATA stages hunger strike against corruption

Activists of Pakistan Muslim League-Nawaz (PML-N) FATA chapter on Tuesday staged a hunger strike camp against the growing corruption in development schemes, demanding for taking immediate notice of a large scale of embezzlement in developmental funds allo
Published 13 Jun, 2012 12:00am
PML-N leader concerned over situation in Karachi and Balochistan

PML-N leader concerned over situation in Karachi and Balochistan

Expressing grave concern over situation in Karachi and Balochistan, Pakistan Muslim League-Nawaz (PML-N) senior leader Muhammad Pervez Malik termed target killings in Karachi and Balochistan failure of the present regime. Malik said here on Tuesday that K
Published 13 Jun, 2012 12:00am
Major crops mismanagement: Punjab may suffer Rs 101 billion loss

Major crops mismanagement: Punjab may suffer Rs 101 billion loss

Punjab may suffer a loss of Rs 101 billion owing to the considerable reduction in the production of wheat, cotton and gram, which is mainly attributed to the poor monitoring and mismanagement of the government. Ibrahim Mughal, Chairman Agri Forum while ta
Published 13 Jun, 2012 12:00am
Sugar industry has created strong cartel in country: PAC

Sugar industry has created strong cartel in country: PAC

The National Assembly's Public Accounts Committee (PAC) on Tuesday observed that the local sugar industry had created a strong cartel in the country which fluctuate sugar prices whenever it wants. The committee noted this during its meeting held here with
Published 13 Jun, 2012 12:00am
Telecom sector AGP detects Rs 176.96 billion irregularities

Telecom sector AGP detects Rs 176.96 billion irregularities

Auditor General of Pakistan (AGP) has detected embezzlements, irregularities and mismanagement of more than Rs 176.95 billion in telecommunication sector. The Audit Report of the Accounts of Telecommunication sector for Audit year 2011-12, a copy of which
Published 13 Jun, 2012 12:00am
Khyber Pakhtunkhwa hints at shifting Shakeel Afridi to Balahisar Fort

Khyber Pakhtunkhwa hints at shifting Shakeel Afridi to Balahisar Fort

The Khyber Pakhtunkhwa Assembly was told on Tuesday that the provincial government was considering shifting Dr Shakeel Afridi from Central Jail Peshawar. Responding to a point of order of PML-Q MPA Nighat Orakzai, Senior Minister Bashir Bilour said that t
Published 13 Jun, 2012 12:00am
Altaf against patronisation of criminal elements

Altaf against patronisation of criminal elements

Patronisation of criminal elements should be stopped for peace in Karachi, said Muttahida Quami Movement (MQM) Chief Altaf Hussain. He was addressing a huge gathering of students in Jinnah Ground on the occasion of the 34th Foundation Day of the All Pakis
Published 13 Jun, 2012 12:00am
MCCI, USAID, ASF jointly organise workshop

MCCI, USAID, ASF jointly organise workshop

Multan Chamber of Commerce & Industry (MCCI), USAID, and Agribusiness Support Fund (ASF) jointly organised a workshop here which was attended by more than 130 traders and farmers of fruits, vegetable, dairy and meat. The workshop was chaired by Mian Anis
Published 13 Jun, 2012 12:00am
PDA asked to withdraw NOC condition on construction in Hayatabad

PDA asked to withdraw NOC condition on construction in Hayatabad

Residents of posh locality of Hayatabad along with property dealers have demanded to withdraw condition of No-objection certificate (NOC) as made mandatory to carry out construction in the vicinity, saying that corruption is being carried out on name of t
Published 13 Jun, 2012 12:00am
Eigth LCCI achievement awards next month

Eigth LCCI achievement awards next month

President of Pakistan Asif Ali Zardari will be the chief guest at Eighth LCCI Achievement Awards 2012 scheduled for second week of July. The LCCI Acting President Kashif Younis Meher stated this while addressing a press conference here at Lahore Chamber o
Published 13 Jun, 2012 12:00am
PML-N attaching priority to solution of people's problems

PML-N attaching priority to solution of people's problems

Punjab Minister for Zakat and Ushr Malik Nadeem Kamran has said that the PML-N-led Punjab government is attaching priority to the resolution of problems posed to people and is taking all out steps in this regard.
Published 13 Jun, 2012 12:00am
Bank Alfalah to launch some new products

Bank Alfalah to launch some new products

Bank Alfalah Limited's President and Chief Executive Officer (CEO) Atif Aslam Bajwa has said the bank will launch some new products to facilitate customer and proved better banking facilities. Speaking at a meeting of Korangi Association of Trade and Indu
Published 13 Jun, 2012 12:00am
Teachers in Lyari to get 'hardship allowance'

Teachers in Lyari to get 'hardship allowance'

Sindh Education and Literacy department has approved grant of hardship allowance for 1,794 teachers posted in Lyari, it is learnt on Tuesday. Sources inside the department told Business Recorder that a large number of teachers posted in different s
Published 13 Jun, 2012 12:00am
Budget debate: MPAs for power generation through alternative sources

Budget debate: MPAs for power generation through alternative sources

Legislators during budget debate in Punjab Assembly on Tuesday called for taking measures to generate electricity through alternative sources including solar and sugarcane waste for overcoming the prevailing energy crisis. The treasury members hailed Punj
Published 13 Jun, 2012 12:00am
Commissioner Lahore reviews general bus stand arrangements

Commissioner Lahore reviews general bus stand arrangements

Commissioner Lahore Division Jawad Rafiq Malik has reviewed the arrangements of Thokar Niaz Baig general bus stand on Tuesday. The Commissioner informed the meeting that the Punjab Chief Minister will inaugurate the Thokar Naiz Baig general bus stand afte
Published 13 Jun, 2012 12:00am
Fishing vessels return to moorings ahead of ban period

Fishing vessels return to moorings ahead of ban period

With the sea condition getting rough, hundreds of big vessels returned to moorage ahead of the annual fishing ban, fishermen said on Tuesday. The returning fishermen told Business Recorder that the changing weather pattern is pushing the seafarers
Published 13 Jun, 2012 12:00am
Man after self-immolation attempt dies

Man after self-immolation attempt dies

A man, who sustained severe burn injuries in his self-immolation bid outside Karachi Press Club (KPC) on June 6, 2012, died at Civil Hospital Karachi (CHK) on Tuesday. 46-year-old Khalid Mehboob, son of Azhar Khan, had received serious injuries and doctor
Published 13 Jun, 2012 12:00am
President for raising Pak-UK trade volume to £2.5 billion by 2015

President for raising Pak-UK trade volume to £2.5 billion by 2015

President Asif Ai Zardari has said that the people of Pakistan recognised and appreciated understanding and appreciation of their sacrifices in the war against militants by the UK government and its people as reflected in the recent statement by Prime Min
Published 13 Jun, 2012 12:00am
Seven alleged extortionists arrested

Seven alleged extortionists arrested

Sindh police claimed to detain seven alleged extortionists in separate raids at various parts of the metropolis here on Tuesday. According to police sources, Gulshan Iqbal police on a tipoff conducted raid at Time Square near Nipa Chowrangi and arrested t
Published 13 Jun, 2012 12:00am
Asma expresses reservations over Memo commission's report

Asma expresses reservations over Memo commission's report

Asma Jahangir, former president Supreme Court Bar Association (SCBA) and counsel of former Pakistan's ambassador to the US Hussain Haqqani, has expressed serious reservations over the report of the judicial commission on memo scandal. Talking to media per
Published 13 Jun, 2012 12:00am
Brother of MQM's former MPA gunned down: Shershah carnage replicated

Brother of MQM's former MPA gunned down: Shershah carnage replicated

The wave of violence intensified as the episode of Shershah carnage was replicated after almost two years Tuesday leaving elder brother of former MPA of Muttahida Qaumi Movement killed while another sibling wounded. Despite presence of police and rangers,
Published 13 Jun, 2012 12:00am
Mirage jet crashes, no casualties

Mirage jet crashes, no casualties

A fighter jet crashed in the south of the country Tuesday while on routine training but the pilot ejected safely and there were no casualties on the ground, an air force official said. The French-built Mirage jet took off from the Pakistan Air Force's Mas
Published 13 Jun, 2012 12:00am
Shezan International Limited

Shezan International Limited

Incorporated in Pakistan in 1964, Shezan was initially a joint venture with the Alliance Development Corporation of the USA. After purchasing all shares of the Company in 1971, Shahnawaz Group made it a Public Limited Company and it was listed on the Kara
Published 13 Jun, 2012 12:00am
Shezan International Limited

Shezan International Limited

Incorporated in Pakistan in 1964, Shezan was initially a joint venture with the Alliance Development Corporation of the USA. After purchasing all shares of the Company in 1971, Shahnawaz Group made it a Public Limited Company and it was listed on the Kara
Published 13 Jun, 2012 12:00am
Alleged gang rape: civil judge orders inquiry

Alleged gang rape: civil judge orders inquiry

Civil Judge Dera Ghazi Khan, Muhammad Mazhar Mahay, on Tuesday ordered judicial inquiry into the alleged gang rape case. The court also ordered to hand over the girls to their parents after their thorough verification, when police produced them before the
Published 13 Jun, 2012 12:00am
Agriculture income tax: Senate for finalising 'uniform tax' proposal

Agriculture income tax: Senate for finalising 'uniform tax' proposal

The Senate on Tuesday recommended to the National Assembly that the proposal pending with the Council of Common Interests (CCI) regarding 'uniform tax' on agricultural income should be finalised. Some major amendments in the Income Tax Ordinance 2001 reco
Published 13 Jun, 2012 12:00am
Sinopec turns down cut-price Iran crude

Sinopec turns down cut-price Iran crude

Chinese refiner Sinopec has turned down offers of bargain Iranian crude and will cut imports by up to a fifth this year, a senior Chinese oil executive said, insisting ties with the United States were more important than cut-price oil as the West squeezes
Published 13 Jun, 2012 12:00am
Sinopec turns down cut-price Iran crude

Sinopec turns down cut-price Iran crude

Chinese refiner Sinopec has turned down offers of bargain Iranian crude and will cut imports by up to a fifth this year, a senior Chinese oil executive said, insisting ties with the United States were more important than cut-price oil as the West squeezes
Published 13 Jun, 2012 12:00am
'Dozens dead' in Myanmar religious violence

'Dozens dead' in Myanmar religious violence

Dozens of people have been killed in a surge in sectarian violence in Myanmar, an official said on Tuesday, as international pressure grew for an end to the bloodshed. A state of emergency has been declared in western Rakhine state, which has been rocked
Published 13 Jun, 2012 12:00am
Syria now in full-scale civil war: UN

Syria now in full-scale civil war: UN

Syria is now in a full-scale civil war, UN peacekeeping chief Herve Ladsous said on Tuesday, as UN observers reported they were fired on as they tried to enter a town feared to be the target of a new massacre. The news came as the Syrian government accuse
Published 13 Jun, 2012 12:00am
Iran to be given 'clear path' to end nuclear impasse: US

Iran to be given 'clear path' to end nuclear impasse: US

World powers will outline to Iran a "very clear path" to resolve the impasse over its suspect nuclear program at talks in Moscow next week, US Secretary of State Hillary Clinton said Tuesday. "There is a unified position being presented by the P5+1 that g
Published 13 Jun, 2012 12:00am
11 Haitians die, 12 missing in boat sinking

11 Haitians die, 12 missing in boat sinking

Searchers have recovered the bodies of 11 Haitians who died in the sinking of a small, overcrowded boat off the Bahamas, and 12 others are missing, US and Bahamian authorities said Tuesday. Several children were among the dead and missing from the sinking
Published 13 Jun, 2012 12:00am
Russia sending attack helicopters to Syria: Clinton

Russia sending attack helicopters to Syria: Clinton

US Secretary of State Hillary Clinton accused Russia Tuesday of sending attack helicopters to Syria, saying Moscow is lying about its arms shipments. "We are concerned about the latest information we have that there are attack helicopters on the way from
Published 13 Jun, 2012 12:00am
Yemen army, in major victory, retakes two cities

Yemen army, in major victory, retakes two cities

The Yemeni army drove al Qaeda-linked fighters from two of their main strongholds on Tuesday after weeks of fighting, the Defence Ministry said, a major breakthrough for a US-backed offensive meant to secure stability in the wider oil-rich Gulf region.
Published 13 Jun, 2012 12:00am
US to help Philippines with radar: Pentagon

US to help Philippines with radar: Pentagon

The US military said Tuesday it plans to provide a land-based radar to the Philippines, as the country faces an escalating dispute with China over territorial rights off its shore. The radar would form part of a "watch center" to help track ships off the
Published 13 Jun, 2012 12:00am
Israel arrests 206 immigrants in mass round-up

Israel arrests 206 immigrants in mass round-up

Israel's mass round-up of mainly African immigrants passed the 200 mark on Tuesday and immigration authorities said that 43 people had agreed to be voluntarily repatriated. A statement from the Population and Migration Authority said on Tuesday, "66 illeg
Published 13 Jun, 2012 12:00am
More firefighters battle huge Colorado blaze

More firefighters battle huge Colorado blaze

More reinforcements were deployed Tuesday to fight the biggest wildfire in a decade in the western US state of Colorado, as authorities said they had started to get control of the blaze. More than 500 firefighters were attacking the blaze and plans were t
Published 13 Jun, 2012 12:00am
First woman Nobel economics laureate dies

First woman Nobel economics laureate dies

Elinor Ostrom, the first and only woman to win the Nobel Economics Prize since it was first awarded 40 years ago, died Tuesday, said Indiana University. She was 78. The university where Ostrom worked since 1965 and conducted groundbreaking research on the
Published 13 Jun, 2012 12:00am
Britain axes hundreds of Gurkhas in new round of cuts

Britain axes hundreds of Gurkhas in new round of cuts

Hundreds of Britain's Nepalese Gurkha fighters are to lose their jobs in a second round of cuts announced on Tuesday, which will see almost 3,000 posts slashed from the army. The British Embassy in the Nepalese capital Kathmandu said around 320 troops wou
Published 13 Jun, 2012 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures settled lower on Tuesday on speculative selling following a US government crop report that raised the estimate for world cotton ending stocks to a record for the upcoming 2012/13 season, analysts said. US Agriculture Department's monthly su
Published 13 Jun, 2012 12:00am
Shanghai copper falls

Shanghai copper falls

The most-active September copper contract on the Shanghai Futures Exchange fell 1.1 percent to close at 53,740 yuan ($8,400) a tonne on Tuesday, after rising 2.5 percent in the previous session. The ShFE front-month contract has been trading at a premium
Published 13 Jun, 2012 12:00am
Copper declines

Copper declines

Copper dipped on Tuesday as investors were unconvinced that a bank bailout for Spain could contain financial contagion in the euro zone and remained cautious ahead of a critical election in debt-burdened Greece. Spanish bond yields hit euro-era highs as r
Published 13 Jun, 2012 12:00am
Brent slips, US crude moves higher

Brent slips, US crude moves higher

Brent crude fell and US crude edged up on Tuesday in spread trading that reacted to data showing a drawdown in stockpiles at a key US hub as concerns persisted that the euro zone debt crisis will curb demand for oil. Inventories at Cushing, Oklahoma, fell
Published 13 Jun, 2012 12:00am
Tokyo rubber down

Tokyo rubber down

Tokyo rubber futures ended 2.2 percent lower on Tuesday, falling back from the previous day's almost 3-percent rally as optimism over the euro zone's weekend deal to help Spanish banks waned and investors grew cautious about rubber demand. Investors are w
Published 13 Jun, 2012 12:00am
Corn posts biggest drop in two weeks

Corn posts biggest drop in two weeks

US corn slipped 1 percent on Monday, posting its biggest one-day drop in two weeks as rain brought a slim promise of improved Midwest crop conditions and investors fretted over the eurozone debt crisis. Corn collapsed from early highs and reversed three s
Published 13 Jun, 2012 12:00am
Palm oil lower

Palm oil lower

Malaysian palm oil futures closed lower on Tuesday, as renewed fears over the euro zone debt crisis weighed on investor sentiment and the broader financial markets, although losses were limited by lower palm oil stocks. Palm oil, along with other commodit
Published 13 Jun, 2012 12:00am
Coffee sinks to two-year low, cocoa jumps

Coffee sinks to two-year low, cocoa jumps

Arabica coffee futures dropped to their lowest level in two years on Tuesday as ample supplies and risk aversion stemming from the euro zone debt crisis kept the market on the defensive. Cocoa futures surged to a strong close and raw sugar futures weakene
Published 13 Jun, 2012 12:00am
Gold ekes out gains in New York

Gold ekes out gains in New York

Gold prices eked out small gains in choppy trade on Monday as safe-haven buying kicked in and a relief rally in other financial markets faded when investor enthusiasm about a European bailout for Spain's banks dried up. Investors sought refuge in bullion
Published 13 Jun, 2012 12:00am
The Weather

The Weather

The weather report on Tuesday (June 12, 2012) and the forecast for Wednesday (June 13, 2012).

Published 13 Jun, 2012 12:00am
Gold falls in Asia

Gold falls in Asia

Gold inched down on Tuesday after optimism about Spain's bank bailout quickly gave way to renewed worries about the euro zone debt crisis ahead of a string of key events later this month. Spot gold edged down 0.3 percent to $1,589.50 an ounce by 0651 GMT.
Published 13 Jun, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (June 12, 2012).

Published 13 Jun, 2012 12:00am
Gold rises above $1,600 in European trade

Gold rises above $1,600 in European trade

Gold rose back above $1,600 an ounce on Tuesday, gathering momentum as it pushed through key levels, while the euro hit session highs against the dollar and other commodities firmed, with copper prices moving higher and crude oil paring gains. Spot gold w
Published 13 Jun, 2012 12:00am
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