A marathon meeting of Pakistan People's Party (PPP) and its allies on Thursday night decided that the PPP would itself announce the name of final candidate for the slot of prime minister. PPP leader Syed Khurshid Shah will unveil the name of the final can
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
The Exchange Rates Committee of State Bank of Pakistan issued the following exchange rates bulletin here on Thursday (June 21, 2012). Conversion rates for foreign currency deposits, DBC/FCBC, Special US$ Bonds and profits thereon and for forward cover for
With placards, balloons and chain saws, thousands of militants staged a good-natured and colourful protest in central Rio Wednesday against the UN Rio+20 summit on a 'green' economy. The march drew environmentalists, workers, civil servants, black militan
British retail sales bounced back in May after a dismal April as sunnier weather encouraged shoppers to buy clothes and shoes, raising hope that the country may yet avoid a longer slump. Britain, which fell into its second recession in four years between
Spain's medium-term borrowing costs spiralled to a euro-era record at an auction on Thursday, before an independent audit was due to reveal the size of a capital hole in Spanish banks which will be filled by a euro zone bailout.
European lawmakers rejected the global Anti-Counterfeiting Trade Agreement (ACTA) on Thursday, signalling the European Parliament may soon use new-found rights to derail an international trade agreement. "This vote proves that the European Parliament is d
Fitch Ratings on Thursday held steady Switzerland's top AAA rating, citing its resilient economy and well-managed public finances, and kept the outlook at stable. "Fitch Ratings has affirmed Switzerland's long-term foreign and local currency Issuer Defaul
The downturn in the euro zone's private sector is becoming entrenched and Chinese factories are finding the going increasingly tough, business surveys showed on Thursday, painting a darker outlook for the world economy. June was the fifth consecutive mont
Greece named a new cabinet to end two months of political deadlock on Thursday and said it would aim to revise the terms of an unpopular EU-IMF bailout deal but without risking its eurozone membership. The announcement came a day after conservative leader
Canada's Finance Minister Jim Flaherty on Thursday announced tighter mortgage lending rules amid warnings of rising household debt and an overheated housing market. The measures will make it harder for Canadians with limited savings to buy homes or obtain
Canada's Finance Minister Jim Flaherty on Thursday announced tighter mortgage lending rules amid warnings of rising household debt and an overheated housing market. The measures will make it harder for Canadians with limited savings to buy homes or obtain
Thousands of British doctors took industrial action on Thursday for the first time in nearly 40 years, in a row over changes to their pensions as part of government austerity measures. The British Medical Association (BMA) union said doctors were boycotti
US manufacturing grew in June at its slowest pace in 11 months and the number of Americans filing new applications for jobless benefits fell slightly last week, pointing to an economy mired in a soft patch. The weakening economic tone was also underscored
Corn spot basis bids were steady at elevators and processors around the US Midwest on Wednesday on scattered light farmer sales, dealers said. Basis bids have been supported in recent weeks by thin old-crop supplies and concerns about the impact of dry we
US wheat futures were higher at the close of pit trade on Wednesday on short-covering prompted by concerns the USDA may lower its forecast of 2012/13 global wheat production next month. Spot July spring wheat traded on the MGEX was up 51-1/4 cents at $8.4
No change was witnessed on the wholesale grain market on Thursday mainly because of balanced demand and supply position, dealers said. On the rice sector, rates fluctuated slightly but closing was seen at the overnight levels, they added.
Chicago Board of Trade July corn futures were weak at the 1:15 pm CDT (1815 GMT) close of pit trade on Wednesday on profit-taking after the early week rally to a 4-week high but other months were higher in a volatile US Midwest weather market. Dry weather
The Karachi Port handled 122,478 tonnes of cargo including 107,829 tonnes of import, 14,649 tonnes of export cargo and 3,332 loaded and empty containers (TEUs) during the last 24 hours of business activities ended at 0700 hours on Thursday. A total number
Both the futures were unchanged on the forward cottonseed oilcake market on Thursday, dealers said. The July vaida that had closed at Rs 850.00 commenced at the same level in the early session, they said. The December contract followed same pattern, which
Spot rate was higher on the cotton market on Thursday due to tight supply of fine quality, dealers said. As a result, the official spot rate was raised by Rs 100 to Rs 6000, they said. In the ready business over 3000 bales of cotton changed hands between
Cotton prices reported early in the day appeared to follow the overnight levels. New crop (2012-2013) seedcotton (kapas / phutti) prices in Sindh were Rs 2,900 to Rs 3,000 per 40 kgs, while in the Punjab they were said to have ranged from Rs 2,700 to Rs 2
Cotton prices reported early in the day appeared to follow the overnight levels. New crop (2012-2013) seedcotton (kapas / phutti) prices in Sindh were Rs 2,900 to Rs 3,000 per 40 kgs, while in the Punjab they were said to have ranged from Rs 2,700 to Rs 2
Procter & Gamble Co on Wednesday admitted that it has been lacking in big new products and has not been fast enough at cutting costs as it deals with persistent slowing demand in Western Europe, the United States and China. The world's largest household p
Procter & Gamble Co on Wednesday admitted that it has been lacking in big new products and has not been fast enough at cutting costs as it deals with persistent slowing demand in Western Europe, the United States and China. The world's largest household p
BP's tumultuous stay in Russia was reportedly set for an extension on Thursday after a government source said the British firm was in "serious" talks about acquiring a stake in the state oil giant Rosneft. The news sent Rosneft's stock up more than three
Embattled US truck and engine maker Navistar International Corp drew a line in the sand on Wednesday in its battle with activist investors by adopting a poison pill aimed at keeping outsiders from gaining more than a 15 percent stake. Navistar made the mo
Seoul shares fell on Thursday as weak factory activity in China added to investor disappointment that the US Federal Reserve delivered only a limited expansion of monetary stimulus. The Korea Composite Stock Price Index (KOSPI) fell 0.79 percent to close
Hong Kong shares suffered their worst day in almost three weeks on Thursday after a private sector survey showed that China's manufacturing contracted for an eighth-straight month, deterring investors and keeping trading interest low. Chinese developer Ev
US stocks edged lower on Wednesday after the Federal Reserve acted to aid the fragile economy with stimulus measures that were in line with market expectations but went no further. Stocks rallied in recent days in the hope that the US central bank would e
Gulf bourses ended mixed in a muted session on Thursday that saw investors little moved by index compiler MSCI's decision to keep frontier market status for the UAE and Qatar, while Egypt's bourse resumed its decline on political woes. This was the fourth
Most US Treasuries fell narrowly on Wednesday, except for 30-year bonds, which rose on news the Federal Reserve plans to buy more of them as it extends monetary stimulus to a US economy seemingly at risk of stalling. The Fed's decision to renew its effort
Most US Treasuries fell narrowly on Wednesday, except for 30-year bonds, which rose on news the Federal Reserve plans to buy more of them as it extends monetary stimulus to a US economy seemingly at risk of stalling. The Fed's decision to renew its effort
Taiwan stocks ended 0.76 percent lower on Thursday, with banking shares and oil counters the biggest laggards, down 1.52 percent and 1.25 percent respectively. The main TAIEX index fell 55.58 points to 7,279.05, after opening down 0.45 percent. Electronic
Japan's Nikkei average broke above 8,800 for the first time in five weeks on Thursday, as sentiment was buoyed by a softer yen after the US Federal Reserve held back from more aggressive stimulus steps to prop up the economy. Shrugging off a survey showin
European shares ended lower in choppy trading on Thursday as weak data from China, Europe and the United States raised fresh concerns about a global slowdown, although expectations of more central bank action to stimulate growth helped limit losses.
Australian shares dropped 1.1 percent to the lowest close in six days on Thursday as a contraction in China's factory sector weighed on exporters and a profit downgrade and heavily discounted capital raising by surfwear store Billabong hit retailers.
India's benchmark index rose on Thursday, despite losses in other global indexes, as oil stocks rallied on slumping crude prices, while overall sentiment was also bolstered after J.P. Morgan upgraded domestic equities to "overweight." The fall in Brent to
Britain's leading share index dropped back on Thursday, snapping a four-session winning streak on falls in heavyweight commodity stocks which were hit by fresh signs of economic weakness in China and concerns over growth in the United States. Energy stock
Sterling dipped against the dollar on Thursday, giving up earlier gains despite robust UK economic data, as some investors trimmed positions on growing expectations of more easing by the Bank of England. Traders also cited a Sky News report that ratings a
The dollar held above a one-month low against a basket of major currencies on Thursday, no worse for wear even after the Federal Reserve delivered another dash of monetary stimulus and said it was ready to do more if necessary. Dollar bears were stopped f
The dollar rose against the euro and growth-linked currencies on Thursday after the US Federal Reserve disappointed investors who had expected it to opt for more aggressive easing - a move that would have boosted appetite for riskier currencies. The euro
The US dollar rose across the board on Thursday as weak economic data from the United States, Europe and China spurred investors to flee riskier currencies and seek shelter in the greenback. The euro came under fresh pressure after data showed Germany's p
The dollar edged lower against the euro in volatile trade on Wednesday after the Federal Reserve extended its latest monetary stimulus, saying it was ready to do even more to help support a US economic recovery that looks increasingly fragile. The US cent
Interbank buy/sell rates for the taka against the dollar on Thursday. 81.72-81.87 (previous 81.80-81.84). Call Money Rates: 9.75-15.00 percent (previous 9.50-15.00 percent).
The Indian rupee fell to a record low against the dollar on Thursday, as the euro and other risk assets were hit by disappointment about the size of bond purchases announced by the Federal Reserve and by weak global economic data. The Reserve Bank of Indi
Most emerging Asian currencies fell on Thursday as the US Federal Reserve's policy announcement disappointed some investors who had expected more aggressive easing while soft China data added the gloom. The Philippine peso and the Malaysian ringgit suffer
The Australian and New Zealand currencies retreated from seven-week highs on Thursday after a disappointing report on Chinese manufacturing activity overshadowed unexpectedly strong New Zealand economic growth numbers. The kiwi traded at $0.7978, having e
The yuan closed down slightly in spot trade against the dollar on Thursday, after at one point trading at a record distance from the official midpoint, as data showing a further contraction in China's factory activity dampened sentiment.
England will travel straight to New Zealand at the end of their tour of India next January after the schedule for their trip was released on Wednesday. England will meet the Black Caps in three Tests, three one-day internationals and three Twenty20s in a
Novak Djokovic and Rafael Nadal are braced to deliver a potentially fatal blow to Roger Federer's fading hopes of matching Pete Sampras's record of seven Wimbledon wins. The great Swiss is fighting time as well as an air-tight Grand Slam grip developed by
India's top tennis doubles player will team up with a poorly-rated and inexperienced partner at the Olympics after two higher-ranked players refused to play with him, officials said Thursday. Leander Paes, ranked seventh in the world as a doubles player,
Coach Joachim Loew has said he wants Germany to show a "killer instinct" and take their chances against tough-tackling Greece in Friday's Euro 2012 quarter-final. Having inflicted a shock 1-0 defeat on Russia last Saturday, Greece come to Arena Gdansk as
Former Georgian football star Ramaz Shengelia, famed for the goals he scored for the Soviet Union and Dinamo Tbilisi, died on Thursday aged 55, the country's football federation said. Striker Shengelia enjoyed his peak at Dinamo Tbilisi, where he won the
Controversial Pakistan paceman Shoaib Akhtar is to travel the country, playing cricket in the streets in a bid to talent spot young players and groom them for success. Akhtar, who retired from international cricket last year, had a career troubled by inju
Pakistan's disgraced former Test captain Salman Butt has been released early from a British prison after serving less than a quarter of his sentence for spot fixing, his lawyers said Thursday. The 27-year-old was jailed for 30 months last November on char
Pakistan's stand-in captain Mohammad Hafeez is confident his young side will regroup after the One-day defeats to challenge Sri Lanka in the Test series starting on Friday. Hafeez, 31, was thrown into the deep end when regular captain Misbah-ul Haq was ba
Defending champion Marion Bartoli trod carefully on a rain-slick court to advance to the semi-finals of the Eastbourne grass tournament on Thursday with a 6-4, 6-2 win over Czech Lucie Safarova. The Frenchwoman, who plays next against either Bulgarian Tsv
Zimbabwe failed to build on their stunning win over South Africa and fell by six wickets to Bangladesh Thursday in a non-cap Twenty20 tournament. Much was expected of Brendan Taylor and his team after they shocked strong favourites South Africa by 29 runs
Andy Murray was on Thursday named as the first member of the Great Britain tennis team for the London Olympics. The world number four will be competing in his second Olympics after Beijing when he lost in the first round of the singles and the second roun
Veteran forward Rehan Butt and goalkeeper Salman Akbar's chances to return to national hockey team got a big boost when they were announced in a 26-member camp for London Olympics, here on Thursday. The preparation of the team will start from June 26 at A
A Frenchman who lost all of his limbs in an accident braved hot weather and sharks on Thursday to swim across the Red Sea from Egypt's Taba to Aqaba in Jordan as part of a global challenge. Using prosthetic limbs with flippers attached, Philippe Croizon,
A huge fire broke out at the state government headquarters in Mumbai on Thursday, injuring several people and forcing the evacuation of hundreds of officials as it engulfed the building's upper floors. Fire engines and emergency teams rushed to the scene
Russia on Thursday acknowledged for the first time a cargo ship forced to turn back from British waters was carrying attack helicopters bound for Syria that it had repaired for Bashar al-Assad's regime.
Aid workers hoping to evacuate trapped civilians and wounded were unable to enter hard-hit areas of the Syrian city of Homs on Thursday due to an "unclear" security situation and have returned to Damascus, the International Committee of the Red Cross (ICR
A Syrian air force pilot flew his MiG-21 fighter plane over the border to Jordan and was granted political asylum on Thursday, the first defection with a military aircraft since the start of the uprising against President Bashar al-Assad. The pilot landed
An Indonesian air force plane crashed into a military housing complex in Jakarta on Thursday, killing all seven crew on board and two children and an elderly woman on the ground, officials said. The ageing turboprop Fokker 27 split in two as it smashed in
Iran has detected a planned "massive cyber attack" against its nuclear facilities, state television said on Thursday, after talks with major powers this week failed to resolve a row over Tehran's disputed nuclear activities. Iran's Intelligence Minister H
The US journal Science published research Thursday on how a mutant bird flu may spread among mammals and possibly humans, following months of controversy over the risks of bioterrorism. The paper detailed how a Dutch lab engineered an H5N1 bird flu virus
Turkey and the European Union initialled a "readmission" deal to combat illegal migration across the Turkish border Thursday, a day after Brussels agreed to ease visa requirements for Turkish citizens. The EU's Home Affairs Commissioner Cecilia Malmstroem
The United States on Thursday put a leader of the Basque ETA movement detained in France on its terror list, freezing any assets he may have within US territory. Aitzol Iriondo Yarza was awaiting extradition to Spain on terrorism and murder charges, the S
Aung San Suu Kyi on Thursday urged the world to help Myanmar complete its journey towards democracy as she became the first foreign woman to address both houses of Britain's parliament. The Nobel Peace Prize laureate said it was an "extraordinary honour"
Despite decades of European integration, less than one in two teenagers in the 27-nation bloc speaks a foreign language well enough to hold a conversation, the European Union executive said Thursday. Tests in 14 countries showed only 42 percent of teenage
Britain's Queen Elizabeth has another reason to be cheerful in her Diamond Jubilee year - her annual pay is about to jump by 20 percent to 36 million pounds. Her property holdings, known as the Crown Estate, posted a record profit of 240.2 million pounds
Chairman National Vocational and Technical Training Commission (NAVTTC) Mumtaz Akhtar Kahloon distributed laptops and certificates among twenty trainers of first batch who have completed their training. In this regard a ceremony was organised here at Nati
The 59th birth anniversary of Mohtarma Benazir Bhutto Shaheed was celebrated with zeal and due respect in Multan and other parts of the Southern Punjab. A number of founder workers of PPP donated their blood on this occasion. Quran Khawani at different pl
Former President Federation Pakistan Chamber of Commerce and Industry (FPCCI), Chaudhry Saeed stressed the need to diversify existing manufacturing sectors and agriculture products in Azad Kashmir to boost the national economy, besides encouraging the dom
Punjab Chief Minister, Shahbaz Sharif has said that the government has finalised foolproof arrangements for the eradication and protection against the scourge of dengue and all-out resources are being utilised for this purpose.
The issue of drone attacks by the US/Nato forces inside Pakistan's soil has been raised effectively at the Human Rights Council with different stakeholders expressing concerns on the matter.
The Punjab Assembly (PA) session witnessed chaos and pandemonium on the third consecutive day as Seemal Kamran, an MPA from the opposition Pakistan Muslim League-Quaid (PML-Q) fell unconscious after a four-hour long protest after she was barred from enter
Working on the links between traffic noise and health, a new study has found that people exposed to louder traffic sounds run a greater risk of suffering a heart attack. By analysing more than 50,000 participants aged 50 to 64, Danish researchers discover
The federal government has rejected three major tax-related proposals of the Senator Ishaq Dar of PML (N) which have not been made part of the amennded Finance Bill (2012-2013) Sources told Business Recorder here on Thursday that the Senate Standin
Chairman, Pakistan Tehrik-e-Insaaf PTI Imran Khan Thursday said that only solution to solve multifarious problems facing the country was by holding free, fair and transparent election. Talking to newsmen on arrival at Karachi airport, he contended that al
Two UN human rights experts on Thursday urged greater protection for media professionals, citing the unacceptably high number of attacks against those disseminating news, including arbitrary arrests, torture and killings, to violence against female journa
Chief Minister Sindh Syed Qaim Ali Shah has said that the present Government of PPP is working according to the Philosophy of Shaheed Zulfikar Ali Bhutto and the Vision of Shaheed Mohtarma Benazir Bhutto and serving the downtrodden people without any disc