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Print - 2012-07-06
Deutsche Bahn to sue steelmakers in cartel case

Deutsche Bahn to sue steelmakers in cartel case

German rail operator Deutsche Bahn plans to sue members of a rail track cartel that may have defrauded it of hundreds of millions of euros during a decade of price-fixing, after four of them were fined. The state-owned company said it would claim at least
Published 06 Jul, 2012 12:00am
GlaxoSmithKline pleads guilty to health fraud

GlaxoSmithKline pleads guilty to health fraud

A US judge has signed off an agreement by British drugmaker GlaxoSmithKline to pay $3 billion for criminal and civil violations involving 10 drugs that are taken by millions of people. The company pleaded guilty Thursday in US District Court to promoting
Published 06 Jul, 2012 12:00am
India starts buying Iranian oil on a delivered basis

India starts buying Iranian oil on a delivered basis

India has started loading Iranian crude in tankers owned by the Islamic Republic, industry sources said, marking a shift from a decades-old policy that required state-run refiners to transport oil in vessels owned by local shipping companies. The move hig
Published 06 Jul, 2012 12:00am
Iran and Syria swap diesel for gasoline

Iran and Syria swap diesel for gasoline

Iran and Syria have resumed working together to fight Western sanctions on their oil as shipping records showed two Iranian vessels have delivered diesel to Syrian ports over the past week, the first fuel shipments from Iran in about three months. The fir
Published 06 Jul, 2012 12:00am
Kingfisher wins more time to stay aloft

Kingfisher wins more time to stay aloft

Embattled Kingfisher Airlines on Thursday won more time from lenders to develop a turnaround plan while its bankers moved ahead with the sale of two properties to recover a small fraction of what they are owed. Kingfisher, controlled by liquor baron Vijay
Published 06 Jul, 2012 12:00am
Spain borrowing costs up as Irish return to market

Spain borrowing costs up as Irish return to market

Ireland returned to short-term debt markets on Thursday for the first time since before its EU/IMF bailout in November 2010, paying less for three-month paper than Spain which has avoided going to international lenders for a full sovereign rescue.
Published 06 Jul, 2012 12:00am
Firms see India third most-favoured destination: UN report

Firms see India third most-favoured destination: UN report

Major global companies consider India their third most favoured destination after China and the United States, a UN report said on Thursday, and investment inflows could increase by more than 20 percent both this year and next. Foreign direct investment (
Published 06 Jul, 2012 12:00am
French banks agree to cut interbank fees

French banks agree to cut interbank fees

France's banks have agreed to slash fees charged to each other for bill payments by direct debit, among the highest in Europe, antitrust authorities said on Thursday. Eleven banks including BNP Paribas, Societe Generale and HSBC France will halve interban
Published 06 Jul, 2012 12:00am
Greece admits veering from bailout obligations

Greece admits veering from bailout obligations

Greece conceded on Thursday it had slipped "in some respects" in implementing the cuts and reforms demanded by lenders in exchange for saving Athens from bankruptcy, and tried to persuade them to cut the country some slack.
Published 06 Jul, 2012 12:00am
China surprises with second rate cut in weeks

China surprises with second rate cut in weeks

China's central bank cut interest rates for the second time in a matter of weeks on Thursday, stepping up efforts to bolster an economy that last quarter probably suffered its weakest growth since the global financial crisis. The People's Bank of China (P
Published 06 Jul, 2012 12:00am
British consultancy scoops prize for euro exit strategy

British consultancy scoops prize for euro exit strategy

A British-based consultancy has won a lucrative prize for devising the best eurozone exit strategy, organisers said Thursday, amid ongoing concern over the potential departure of debt-plagued Greece. Capital Economics has scooped the Wolfson Economics Pri
Published 06 Jul, 2012 12:00am
BoE ramps up stimulus to fight recession, eurozone contagion

BoE ramps up stimulus to fight recession, eurozone contagion

The Bank of England decided Thursday to pump out another £50 billion of stimulus cash, in a bid to haul Britain out of recession and ward off contagion from the eurozone sovereign debt crisis. The central bank said in a statement that its nine-member Mone
Published 06 Jul, 2012 12:00am
Hopeful signs emerge for struggling US jobs market

Hopeful signs emerge for struggling US jobs market

US private employers stepped up hiring in June and the number of Americans filing new claims for jobless benefits last week fell by the most in two months, hopeful signs for the struggling labour market. But dark clouds continue to gather over the US econ
Published 06 Jul, 2012 12:00am
Egypt's shares regain upward momentum

Egypt's shares regain upward momentum

Egyptian shares advance after having paused on Wednesday from a seven-day winning streak triggered by euphoria over the successful election and succession to power of the country's first civilian ruler in six decades. Egypt's main index rises 0.5 percent
Published 06 Jul, 2012 12:00am
Hong Kong shares climbs, China's benchmarks down

Hong Kong shares climbs, China's benchmarks down

Hong Kong shares reached their highest close since May 15 on Thursday but gains came in this year's second-lowest turnover, suggesting investors remained worried about the Chinese economy and cautious ahead of a European Central Bank meeting. China's dome
Published 06 Jul, 2012 12:00am
Nikkei edges down

Nikkei edges down

Japan's Nikkei share average edged lower on Thursday, with traders saying they believed a one-month rally that had taken the benchmark to a 2-month high and close to resistance at its 75-day moving average was running out of steam. The Nikkei has risen al
Published 06 Jul, 2012 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan stocks ended down 0.47 percent on Thursday, as investors offloaded risky assets ahead of the European Central Bank's policy decision later in the day, with oil and plastics counters among the main losers, down 0.86 percent and 0.83 percent respecti
Published 06 Jul, 2012 12:00am
Thursday's afternoon trade: S&P flat as central banks fail to reassure

Thursday's afternoon trade: S&P flat as central banks fail to reassure

US stocks were little changed on Thursday, stalling after the biggest three-day rally of the year as investors geared up for a jobs report that is likely to show Europe's crisis is weighing heavily on the US economy. The market was unimpressed by China, E
Published 06 Jul, 2012 12:00am
Seoul shares flat

Seoul shares flat

The eye-catching move on a flat day for South Korean shares on Thursday was an 11.6 pct surge by Halla Climate Control, after majority stakeholder US auto parts supplier Visteon Corp said it will buy out the remaining shares. Visteon said it would offer s
Published 06 Jul, 2012 12:00am
Indian shares at highest since April

Indian shares at highest since April

India's main index rose to its highest close since April 3, as cigarette maker ITC, one of the big blue-chip gainers this year, recovered from steep recent falls, while Reliance Industries gained on hopes for improving refining margins. Indian shares have
Published 06 Jul, 2012 12:00am
European shares tumble

European shares tumble

European shares slipped from two-month highs to end lower on Thursday as a slew of largely expected measures by central banks to boost growth prompted investors to book profits, while stronger economic data dimmed chances of more US stimulus. Charts sugge
Published 06 Jul, 2012 12:00am
Most Southeast Asian bourses soar

Most Southeast Asian bourses soar

Most Southeast Asian stock markets ended higher on Thursday after a rangebound session ahead of the European Central Bank's policy decision, with Singapore led by gains in developers such as Capitaland Ltd supported by strong property demand. Singapore's
Published 06 Jul, 2012 12:00am
Australian shares little changed

Australian shares little changed

Australian shares ended marginally lower on Thursday, dropping 0.07 percent, amid exceptionally light volumes as investors largely sat tight ahead of a key monetary policy announcement from the European Central Bank. Strategists said the day's trade was o
Published 06 Jul, 2012 12:00am
UK's top share index rises

UK's top share index rises

Britain's top share index closed up but off session highs on Thursday as markets fretted over global growth prospects, despite moves by central banks to boost flagging economies. Miners closed slightly higher after China surprised the market by cutting in
Published 06 Jul, 2012 12:00am
Sterling jumps versus euro

Sterling jumps versus euro

Sterling came close to its highest in three and a half years against the euro on Thursday as an expected decision by the Bank of England to inject more stimulus into the economy was offset by a euro zone rate cut which sparked sharp falls in the euro. The
Published 06 Jul, 2012 12:00am
Euro on defensive in Asia

Euro on defensive in Asia

The euro wallowed near one-week lows on Thursday, with trading subdued in the wake of the US holiday and ahead of a widely expected interest rate cut by the European Central Bank later in the day. The ECB is due to announce its decision at 1145 GMT, follo
Published 06 Jul, 2012 12:00am
Early trade in New York: Euro slips across the board

Early trade in New York: Euro slips across the board

The euro slumped broadly on Thursday, hitting a one-month low against the dollar, after the European Central Bank cut its main interest rate to a record low and reduced its deposit rate to zero to help tackle the euro zone debt crisis. Analysts said altho
Published 06 Jul, 2012 12:00am
Euro plummets in London after ECB cuts rates

Euro plummets in London after ECB cuts rates

The euro fell sharply against a range of currencies on Thursday after the European Central Bank cut its main interest rate to a record low of 0.75 percent and reduced its deposit rate to zero to help tackle the euro zone debt crisis. Analysts said althoug
Published 06 Jul, 2012 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 81.81-81.83 (previous 81.80-81.82). Call Money Rates: 6.50-13.00 percent (previous 10.50-14.00 percent).
Published 06 Jul, 2012 12:00am
Yuan ends lower

Yuan ends lower

The yuan closed down slightly on Thursday after the People's Bank of China (PBOC) set a lower midpoint, and as traders awaited comments from the European Central Bank which is widely expected to cut interest rates later in the day. Before trading began, t
Published 06 Jul, 2012 12:00am
Peso rises on S&P upgrade

Peso rises on S&P upgrade

The Philippine peso rose on Thursday after Standard & Poor's raised its credit rating on the country to one notch below investment grade, but other emerging Asian currencies were mixed as investors awaited a rate decision by the European Central Bank.
Published 06 Jul, 2012 12:00am
Australian and New Zealand dollars near lifetime highs

Australian and New Zealand dollars near lifetime highs

The Australian and New Zealand dollars held near record highs versus the euro on Thursday, giving back only a bit of ground as markets locked in some profits ahead of the European Central Bank policy meeting. Investors had sold the single currency in anti
Published 06 Jul, 2012 12:00am
Indian rupee stays lower

Indian rupee stays lower

The Indian rupee fell for a second straight session on Thursday, consolidating after a recent rally as traders braced for an interest rate cut from the European Central Bank that, as expected, was delivered after the close of markets. "The rupee started r
Published 06 Jul, 2012 12:00am
Swiss franc little changed

Swiss franc little changed

The Swiss franc was little changed against the dollar on Thursday, taking its cue from the euro as investors stood on the sidelines before what is widely expected to be an interest rate cut by the European Central Bank later in the day. The franc was flat
Published 06 Jul, 2012 12:00am
FX daily average settlement value tops $5 trillion in June

FX daily average settlement value tops $5 trillion in June

The average daily value settled in the foreign exchange market climbed above $5 trillion in June while average daily volumes also increased, data from FX settlement system CLS Bank showed on Thursday. CLS settled an average daily value of $5.12 trillion,
Published 06 Jul, 2012 12:00am
Rain scuppers England's quest for No 1

Rain scuppers England's quest for No 1

England's hopes of becoming the world's number top-ranked one-day international side (ODI) during their series against Australia were ended after rain washed out the third ODI here Wednesday. The match at Edgbaston was abandoned without a ball being bowle
Published 06 Jul, 2012 12:00am
England rest Swann for final Aussie ODIs

England rest Swann for final Aussie ODIs

England's Graeme Swann will miss the final two matches in the one-day series against Australia, allowing him to rest his sore bowling arm, national selector Geoff Miller said Thursday. Swann, a mainstay of the England side in all three international forma
Published 06 Jul, 2012 12:00am
Phelps to cement legacy in London

Phelps to cement legacy in London

Michael Phelps will cement his Olympic legacy in London, leading a US team that still expects to dominate the pool ahead of traditional rivals Australia and rising powers such as China. Phelps's unprecedented eight gold medals at the Beijing Games led the
Published 06 Jul, 2012 12:00am
Sangakkara tops Test rankings

Sangakkara tops Test rankings

Sri Lanka's Kumar Sangakkara, after another big century against Pakistan in the second Test that ended in a draw at the Singhalese Sports Club (SSC) in Colombo on Wednesday, has reclaimed the number-one batting spot from West Indies' Shivnarine Chanderpau
Published 06 Jul, 2012 12:00am
Schedule for Pakistan-Australia series announced

Schedule for Pakistan-Australia series announced

Pakistan Thursday finally announced a limited over series schedule against Australia, delaying the matches to late in the evening to avoid the heat in the United Arab Emirates, the cricket board said. Pakistan had to search for the venue for the series af
Published 06 Jul, 2012 12:00am
Indian skipper joins Sporting Lisbon

Indian skipper joins Sporting Lisbon

India captain Sunil Chhetri has signed for Sporting Lisbon and will play with the B team for two seasons, the Portuguese football club confirmed on Thursday. The signing is part of an agreement with Indian football authorities to develop the game. "With o
Published 06 Jul, 2012 12:00am
FIFA approves five officials at matches

FIFA approves five officials at matches

Approval was given on Thursday to the five-referee method of officiating matches after a meeting of the International Football Association Board (IFAB). The referee and two linesmen will be aided by two further officials posted behind each team's goalline
Published 06 Jul, 2012 12:00am
Football ban on women wearing headscarves lifted

Football ban on women wearing headscarves lifted

Football chiefs agreed on Thursday to lift a ban on women wearing headscarves during games, clearing the way for the participation of many Muslim nations in top-flight competition. Until the vote by the International Football Association Board (IFAB) here
Published 06 Jul, 2012 12:00am
Murray looks to LeBron to inspire Wimbledon dream

Murray looks to LeBron to inspire Wimbledon dream

Andy Murray will focus firmly on Wimbledon semi-final rival Jo-Wilfried Tsonga on Friday, having cast a longing gaze across the Atlantic for title-winning inspiration from NBA basketball hero LeBron James. Murray, looking to become the first British man t
Published 06 Jul, 2012 12:00am
Greipel wins again as Armstrong looms over Tour

Greipel wins again as Armstrong looms over Tour

Germany's Andre Greipel claimed his second win in as many days Thursday as the Tour de France was rocked by the doping controversy swirling around seven-time winner Lance Armstrong. Lotto rider Greipel had claimed his first win of this year's race on Wedn
Published 06 Jul, 2012 12:00am
Serena tackles Radwanska

Serena tackles Radwanska

Serena Williams and Agnieszka Radwanksa will meet in Saturday's Wimbledon final in a battle of raw power against slender poise and expectation over hope. Four-time champion Williams, the 30-year-old sixth seed, buried Victoria Azarenka under a record fire
Published 06 Jul, 2012 12:00am
US bankruptcies on pace to fall to pre-2008 level

US bankruptcies on pace to fall to pre-2008 level

The number of US businesses and consumers filing for bankruptcy fell 14 percent in the first half of 2012 and could end the year at the lowest level since before the 2008 financial crisis, according to data released on Thursday.
Published 06 Jul, 2012 12:00am
British comedy legend dies

British comedy legend dies

Eric Sykes, a giant of British comedy for sixty years and a familiar face to fans of the Harry Potter films, has died aged 89, his manager announced on Wednesday. A statement released by Norma Farnes confirmed that the veteran performer died on Wednesday
Published 06 Jul, 2012 12:00am
Tallest building in western Europe opens in London

Tallest building in western Europe opens in London

Just in time for the Olympics, London Thursday inaugurated its newest landmark - a 310-metre high glass-panelled tower that lays claim to being the tallest building in western Europe. The Shard, as it is known because of its shape, houses a luxury hotel,
Published 06 Jul, 2012 12:00am
Egypt army salutes Mursi, both strive for control

Egypt army salutes Mursi, both strive for control

Sat between Egypt's two top generals, newly elected Islamist President Mohamed Mursi oversaw a passing-out ceremony of military recruits on Thursday in a rigidly choreographed scene that could almost have been taken from the era of Hosni Mubarak.
Published 06 Jul, 2012 12:00am
WikiLeaks begins publishing two million Syria emails

WikiLeaks begins publishing two million Syria emails

WikiLeaks on Thursday began publishing more than two million emails from Syrian political figures which could shed light on a crackdown that has killed thousands. The whistleblowing website said the first emails from Syrian political figures, ministries a
Published 06 Jul, 2012 12:00am
Syrian general defects to Turkey

Syrian general defects to Turkey

In what would be the most high-profile defection from the inner circle of the Syrian leadership, Manaf Tlas, a friend of President Bashar al-Assad and a brigadier in his Republican Guard, was reported on Wednesday to have fled to Turkey. Tlas, whose fathe
Published 06 Jul, 2012 12:00am
China pledges financial aid to Cuba

China pledges financial aid to Cuba

China on Thursday pledged financial aid to Cuba as it undertakes historic economic reforms, promising visiting President Raul Castro a new credit line as well as help in health care and technology. The offers were announced after a meeting between Castro
Published 06 Jul, 2012 12:00am
Kuwait reappoints recently resigned Prime Minister

Kuwait reappoints recently resigned Prime Minister

Kuwait's ruler reappointed the nation's former prime minister Thursday just days after his resignation, a step toward formation of a new government that could at least temporary sideline opposition Islamists. The official Kuwait News Agency said the decre
Published 06 Jul, 2012 12:00am
Obama hails Americans, military on Fourth of July

Obama hails Americans, military on Fourth of July

President Barack Obama hailed the selfless dedication of the US military's "9/11 generation," on a scorchingly hot July 4 holiday Wednesday as Americans gathered to celebrate Independence Day. Barely four months before a general election, Obama hosted a b
Published 06 Jul, 2012 12:00am
Algeria marks independence

Algeria marks independence

Algeria on Thursday marked 50 years since gaining independence from France with pomp and fireworks as media gave a critical assessment of its economic performance five decades after the revolution. The celebrations kicked off with a giant open air perform
Published 06 Jul, 2012 12:00am
London police arrest six terrorism suspects

London police arrest six terrorism suspects

Five men and a woman suspected of preparing terrorist attacks were arrested during early morning police raids across London on Thursday, police said. Police said the operation was not linked to the Olympics, which start in London on July 27, but was part
Published 06 Jul, 2012 12:00am
Swiss government decides against ban on Iran oil

Swiss government decides against ban on Iran oil

The Swiss government will not match European Union sanctions on Iran, deciding on Thursday that its own pending set of toughened measures would exclude a ban on trading Iranian oil for "foreign policy reasons". Switzerland does not import oil from Iran bu
Published 06 Jul, 2012 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures finished weaker on Thursday on investor liquidation as a firmer dollar and sour tone to commodity markets depressed fibre contracts for the first time in five sessions and is seen keeping cotton on the defensive, analysts said. The benchmar
Published 06 Jul, 2012 12:00am
Shanghai copper eases

Shanghai copper eases

The most-active October copper contract on the Shanghai Futures Exchange eased 10 yuan percent to 55,980 yuan ($8,800) per tonne, snapping five sessions of gains. "Copper prices have moved very little - around $100 or 500 yuan - over the past few sessions
Published 06 Jul, 2012 12:00am
Copper falls slightly

Copper falls slightly

Copper fell slightly on Thursday, reversing direction as the dollar strengthened on disappointment that the European Central Bank declined to adopt strong measures to stimulate the economy. Metals rose early in the day after an unexpected Chinese rate cut
Published 06 Jul, 2012 12:00am
Brent up on Norway supply woes, some policy easing

Brent up on Norway supply woes, some policy easing

Brent crude oil futures rose on Thursday, ending at a five-week high on worries about tighter supplies following a lockout of striking oil workers in Norway and hopes that some policy-easing steps by some central banks would improve oil demand. China made
Published 06 Jul, 2012 12:00am
Tokyo rubber futures slip

Tokyo rubber futures slip

Tokyo rubber futures edged lower on Thursday on profit-taking after recent rises, while the market remained cautious ahead of a European Central Bank decision on interest rates, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange (
Published 06 Jul, 2012 12:00am
Palm oil touches fresh five-week high

Palm oil touches fresh five-week high

Malaysian crude palm oil futures rose to the highest in more than five weeks on Thursday, as investors anticipated a dry-weather rally would continue after US markets reopened from a holiday. Futures edged down slightly in the morning session as traders t
Published 06 Jul, 2012 12:00am
ICE sugar falls, Liffe cocoa moves up

ICE sugar falls, Liffe cocoa moves up

Raw sugar futures on ICE turned negative after jumping to their highest level in 2-1/2 months on Thursday as short-covering dried up, while Liffe cocoa futures hit a five-month high. ICE arabica coffee turned negative, after touching a three-month peak to
Published 06 Jul, 2012 12:00am
Gold flat in Asia

Gold flat in Asia

Gold prices traded in a tight $6 range around $1,615 an ounce on Thursday ahead of an expected rate cut by the European Central Bank that should boost liquidity and enhance bullion's appeal. Spot gold traded flat at $1,615.10 an ounce by 0629 GMT. US gold
Published 06 Jul, 2012 12:00am
Gold falls in Europe

Gold falls in Europe

Gold fell on Thursday as the dollar rose and investors took profits after a widely anticipated European Central Bank (ECB) rate cut, cancelling gains made earlier on a surprise rate cut by China. The ECB cut its main interest rate to a record low of 0.75
Published 06 Jul, 2012 12:00am
US MIDDAY: corn jumps

US MIDDAY: corn jumps

Corn jumped to a contract high early on Thursday and soyabeans rallied to their highest price since 2008's record-setting run as a heat wave across much of the United States continued to scorch crops. Chicago wheat hit its highest price in more than a yea
Published 06 Jul, 2012 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

In New York, the most-active September COMEX contract settled 1.33 percent lower at $3.493 per lb on Thursday, as the market corrected itself after a short-covering rally took the market to seven-week highs on Tuesday ahead the Independence Day holiday in
Published 06 Jul, 2012 12:00am
US MIDDAY: gold slips

US MIDDAY: gold slips

Gold fell early on Thursday on a dollar rally and frustrations over a lack of more aggressive market stimulus from central banks after China, Europe and Britain eased their monetary policies. Bullion, which has tumbled several times this year after the Fe
Published 06 Jul, 2012 12:00am
Qubee launches Triple Dynamite offer

Qubee launches Triple Dynamite offer

One of the country's leading broadband service providers, Qubee has launched 'Triple Dynamite' offer. It provides all new and existing customers with three times the volume of their chosen package. It should be noted here that the broadband service provid
Published 06 Jul, 2012 12:00am
CFA Association honours MCB Bank

CFA Association honours MCB Bank

The extraordinary performance of MCB Bank has been recognised both locally and globally by credible ranking agencies, latest by CFA Association Pakistan which has awarded the bank with the 'Best Bank of the year' (large Bank) for second consecutive year a
Published 06 Jul, 2012 12:00am
Gencos, Discos directed to use only PSQCA-certified electricity cables

Gencos, Discos directed to use only PSQCA-certified electricity cables

The Pakistan Electric Power Company (PEPCO) has finally issued notices to all power generating and distribution companies directing them to use/purchase only Pakistan Standard and Quality Control Authority's (PSQCA) certified cables, as the substandard el
Published 06 Jul, 2012 12:00am
US investors hesitant to invest in Pakistan: Grewer

US investors hesitant to invest in Pakistan: Grewer

Counsel Locke Lord LLP, Washington, Ms Shannon Grewer has said that investors want to invest in Pakistan but hesitate and do not know from where to initiate. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI) on Thursday evening, she
Published 06 Jul, 2012 12:00am
Atlas Asset Management announces annual payouts

Atlas Asset Management announces annual payouts

The Board of Directors of Atlas Asset Management Limited, Atlas Group Company, managing mutual funds, pension funds and various investment plans, approved the final distribution for the financial year ended on June 30, 2012 for the funds under its managem
Published 06 Jul, 2012 12:00am
Atlas Asset Management announces annual payouts

Atlas Asset Management announces annual payouts

The Board of Directors of Atlas Asset Management Limited, Atlas Group Company, managing mutual funds, pension funds and various investment plans, approved the final distribution for the financial year ended on June 30, 2012 for the funds under its managem
Published 06 Jul, 2012 12:00am
SECP chairman to visit KSE on July 12

SECP chairman to visit KSE on July 12

The Chairman Securities and Exchange Commission of Pakistan (SECP) Muhammad Ali along with his team will visit Karachi Stock Exchange on July 12. The SECP top officials would hold meeting with members and the governing board of directors of KSE to discuss
Published 06 Jul, 2012 12:00am
Three awarded death sentence in mosque attack case

Three awarded death sentence in mosque attack case

An Anti Terrorism Court on Thursday awarded death sentences on three counts to Shakir Hussain Shamsi, Waseem Abbas and Sajjad Hussain alias Kaka for killing two persons during an attack on a mosque in Bahawalpur on November 25, 2009. Judge Anti Terrorism
Published 06 Jul, 2012 12:00am
SRB to introduce its automation system in Sindh Bank

SRB to introduce its automation system in Sindh Bank

Sindh Revenue Board (SRB) has prepared its own automation system including the bank-portal which is likely to be introduced in Sindh Bank for the collection of sales tax on certain services shortly, Business Recorder learnt on Wednesday. Currently,
Published 06 Jul, 2012 12:00am
CCP opens second phase review on acquisition of Pfizer by Nestle

CCP opens second phase review on acquisition of Pfizer by Nestle

The Competition Commission of Pakistan (CCP) in concluding the first phase review of the pre-merger application for the acquisition of the nutrition business of Pfizer Inc, by Nestle S.A. has ordered to open a second phase review, a press release issued o
Published 06 Jul, 2012 12:00am
Sindh chief minister announces 'Ramazan package'

Sindh chief minister announces 'Ramazan package'

The Sindh Chief Minister Syed Qaim Ali Shah has announced Ramazan package with subsidy of Rs 2.5 billion for the low income people of the province. The Chief Minister on Thursday presided over a high level meeting regarding "Ramazan Package and Subsidy is
Published 06 Jul, 2012 12:00am
MC inspects drain-cleaning work

MC inspects drain-cleaning work

KMC Metro-politan Commissioner Matanat Ali Khan has said that all the major storm water drains in the city would be cleaned by July 10. He said this while visiting storm water drains located in district east.
Published 06 Jul, 2012 12:00am
Sialkot industrial sector badly hit by power outages

Sialkot industrial sector badly hit by power outages

Prolonged power outage was adversely hitting the industrial sector and trade activities of this export-oriented city and hub of cottage industry of the country resultantly the productivity and trading had become standstill.
Published 06 Jul, 2012 12:00am
Punjab achieves record production of major crops

Punjab achieves record production of major crops

Record production of all major crops has been achieved in Punjab due to implementation of farmer-friendly policies by Punjab Government despite unfavourable conditions. Development of agriculture sector, rural areas and well being of farming community is
Published 06 Jul, 2012 12:00am
LCCI for equitable loadshedding across country

LCCI for equitable loadshedding across country

The Lahore Chamber of Commerce and Industry (LCCI) has expressed deep concern over awful and continuous prolonged loadshedding and urged the government to ensure equitable power cuts in all parts of the country.
Published 06 Jul, 2012 12:00am
QAT results announced

QAT results announced

Punjab Education Foundation (PEF) has announced the result of 10th Quality Assurance Test (QAT) of schools partnered under Education Voucher Scheme. According to the results, 9485 students of 151 schools partnered under Education Voucher Scheme with the P
Published 06 Jul, 2012 12:00am
Punjab University vice chancellor seeks HEC funds

Punjab University vice chancellor seeks HEC funds

Punjab University Vice Chancellor, Professor Dr Mujahid Kamran has said that the drama of stoppage of Higher Education Commission (HEC) funds started when the commission declared genuine status of fake degrees of some members of the Parliament defying the
Published 06 Jul, 2012 12:00am
Power shortfall crosses 5,000 megawatts mark

Power shortfall crosses 5,000 megawatts mark

Power shortfall crossed again the threshold of 5,000MW against all tall claims of the federal government. The domestic as well industrial consumers were highly perturbed over long durations of load shedding, cursing the government throughout last 24 hours
Published 06 Jul, 2012 12:00am
PML-N will ultimately run away from general elections: Hashmi

PML-N will ultimately run away from general elections: Hashmi

The Sharif brothers ran away from the NA-151 by-poll and they will also run away from general elections then their workers would have to pray at shrines for their advent, said Makhdoom Javed Hashmi, President of Pakistan Tehreek-e-Insaf (PTI) on Thursday
Published 06 Jul, 2012 12:00am
Textile millers criticise government approach towards economy

Textile millers criticise government approach towards economy

Textile mill owners on Thursday criticised the government's reluctant approach to accommodate the industry, saying they were fighting for their survival in an unfriendly business environment. They said that they were spending more time on lobbying the gov
Published 06 Jul, 2012 12:00am
96th FESCO meeting held

96th FESCO meeting held

96th meeting of (FESCO) Faisalabad Electric Supply Company Board of Directors (BODs) held here with Nadeem Aftab Sindhu in the chair. The Board meeting unanimously sanctioned the electricity related development works to be executed with the loan of Asian
Published 06 Jul, 2012 12:00am
Doctors yet to resume duties

Doctors yet to resume duties

Despite the provincial government's claim of termination of the strike by Young Doctors Association (YDA) a day earlier, patients in various hospitals across the province continue suffered heavily on Thursday, as young doctors have not yet resumed duties
Published 06 Jul, 2012 12:00am
Pathetic 'spot-fixing' convict!

Pathetic 'spot-fixing' convict!

As a cricket enthusiast I was simply appalled and disgusted to see the extensive coverage given by the media to the arrival and subsequent interview of the disgraced ex-Pakistan cricket captain and former jailbird, Salman Butt, an established and duly con
Published 06 Jul, 2012 12:00am
Challenges loom in US-Pakistan ties despite accord

Challenges loom in US-Pakistan ties despite accord

Pakistan's decision to end a seven-month blockade of Nato troop supplies was a rare bright spot in relations with the US, but disagreements over issues like American drone strikes and Islamabad's alleged support for Taliban militants still hamper a relati
Published 06 Jul, 2012 12:00am
Iceland's economy booms, but residents struggle with debt

Iceland's economy booms, but residents struggle with debt

Four years after the collapse of Iceland's three largest banks, the island republic in the north Atlantic is booming again with strong growth. It also has low unemployment, a balanced national budget for 2013, and it is speedily repaying its foreign debt.
Published 06 Jul, 2012 12:00am
Improving voluntary tax compliance - I

Improving voluntary tax compliance - I

The Inland Revenue is here to ensure that everyone understands and receives what they are entitled to and understands and pays what they owe, so that everyone contributes to the UK's needs - slogan on website of Inland Revenue Service of United Kingdom. U
Published 06 Jul, 2012 12:00am
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