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Nov 24, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2012-08-23
17 picnickers drown as boat capsizes in river Chenab

17 picnickers drown as boat capsizes in river Chenab

A boat carrying 17 picnickers capsized in river Chenab at Punjnad headworks due to high tide in the river here on Tuesday. Rescue teams saved the lives of five people including a woman and two children. However, 12 are still missing. DPO Muzaffargarh Zees
Published 23 Aug, 2012 12:00am
Weak monsoon boosts demand for diesel in Pakistan, India

Weak monsoon boosts demand for diesel in Pakistan, India

Pakistan is seeking its largest monthly diesel imports in a year and appetite in India is also growing, with consumers turning to stand alone power generators as shaky power grids come under increased pressure from weak monsoons. Below-average rains have
Published 23 Aug, 2012 12:00am
India cracks down on Internet over migrant exodus

India cracks down on Internet over migrant exodus

India has demanded social networking websites take down provocative messages and has blocked some online content after anonymous threats sparked an exodus of migrants from several cities. Tens of thousands of workers and students from the remote north-eas
Published 23 Aug, 2012 12:00am
India cracks down on Internet over migrant exodus

India cracks down on Internet over migrant exodus

India has demanded social networking websites take down provocative messages and has blocked some online content after anonymous threats sparked an exodus of migrants from several cities. Tens of thousands of workers and students from the remote north-eas
Published 23 Aug, 2012 12:00am
India cracks down on Internet over migrant exodus

India cracks down on Internet over migrant exodus

India has demanded social networking websites take down provocative messages and has blocked some online content after anonymous threats sparked an exodus of migrants from several cities. Tens of thousands of workers and students from the remote north-eas
Published 23 Aug, 2012 12:00am
Sweden unlikely to extradite Assange to US: Australia

Sweden unlikely to extradite Assange to US: Australia

WikiLeaks founder Julian Assange was unlikely to be extradited from Sweden to the United States if there was a risk of the death penalty or a military court, Australia''s foreign minister said Wednesday. British authorities won their case to extradite Ass
Published 23 Aug, 2012 12:00am
Sweden unlikely to extradite Assange to US: Australia

Sweden unlikely to extradite Assange to US: Australia

WikiLeaks founder Julian Assange was unlikely to be extradited from Sweden to the United States if there was a risk of the death penalty or a military court, Australia's foreign minister said Wednesday. British authorities won their case to extradite Assa
Published 23 Aug, 2012 12:00am
Sweden unlikely to extradite Assange to US: Australia

Sweden unlikely to extradite Assange to US: Australia

WikiLeaks founder Julian Assange was unlikely to be extradited from Sweden to the United States if there was a risk of the death penalty or a military court, Australia's foreign minister said Wednesday. British authorities won their case to extradite Assa
Published 23 Aug, 2012 12:00am
Surprise deficit raises risk of more UK austerity

Surprise deficit raises risk of more UK austerity

Britain''s public finances veered further off track in July after a shortfall in corporation tax revenues and higher spending, putting the government''s deficit goals in doubt and raising the prospect of more austerity on top of the planned spending cuts.
Published 23 Aug, 2012 12:00am
Surprise deficit raises risk of more UK austerity

Surprise deficit raises risk of more UK austerity

Britain's public finances veered further off track in July after a shortfall in corporation tax revenues and higher spending, putting the government's deficit goals in doubt and raising the prospect of more austerity on top of the planned spending cuts.
Published 23 Aug, 2012 12:00am
Surprise deficit raises risk of more UK austerity

Surprise deficit raises risk of more UK austerity

Britain's public finances veered further off track in July after a shortfall in corporation tax revenues and higher spending, putting the government's deficit goals in doubt and raising the prospect of more austerity on top of the planned spending cuts.
Published 23 Aug, 2012 12:00am
Misuse of bonded warehouses detected

Misuse of bonded warehouses detected

The Federal Board of Revenue (FBR) has detected misuse of bonded warehouses by some unscrupulous importers/warehouse licensees. Sources said on Wednesday that the Directorate of Training and Research Customs FBR on bonded warehouses detected various kinds
Published 23 Aug, 2012 12:00am
Misuse of bonded warehouses detected

Misuse of bonded warehouses detected

The Federal Board of Revenue (FBR) has detected misuse of bonded warehouses by some unscrupulous importers/warehouse licensees. Sources said on Wednesday that the Directorate of Training and Research Customs FBR on bonded warehouses detected various kinds
Published 23 Aug, 2012 12:00am
Misuse of bonded warehouses detected

Misuse of bonded warehouses detected

The Federal Board of Revenue (FBR) has detected misuse of bonded warehouses by some unscrupulous importers/warehouse licensees. Sources said on Wednesday that the Directorate of Training and Research Customs FBR on bonded warehouses detected various kinds
Published 23 Aug, 2012 12:00am
US drone kills three militants

US drone kills three militants

A US drone strike on Tuesday killed at least three militants in a tribal region near the Afghan border, security officials said. Two US drones fired four missiles on a vehicle in Shnakhura village, 10 kilometres from Miranshah, the main town in North Wazi
Published 23 Aug, 2012 12:00am
US drone kills three militants

US drone kills three militants

A US drone strike on Tuesday killed at least three militants in a tribal region near the Afghan border, security officials said. Two US drones fired four missiles on a vehicle in Shnakhura village, 10 kilometres from Miranshah, the main town in North Wazi
Published 23 Aug, 2012 12:00am
Veteran journalist Shamim-ur-Rehman passes away

Veteran journalist Shamim-ur-Rehman passes away

Senior staff reporter of Dawn Shamim-ur-Rehman, who died here on Monday, was a journalist of extraordinary versatility and talent. He was a prolific writer. He possessed great knowledge and understanding of his principal area of expertise: politics. He wa
Published 23 Aug, 2012 12:00am
Veteran journalist Shamim-ur-Rehman passes away

Veteran journalist Shamim-ur-Rehman passes away

Senior staff reporter of Dawn Shamim-ur-Rehman, who died here on Monday, was a journalist of extraordinary versatility and talent. He was a prolific writer. He possessed great knowledge and understanding of his principal area of expertise: politics. He wa
Published 23 Aug, 2012 12:00am
US Cold War trade rule stays as Russia joins WTO

US Cold War trade rule stays as Russia joins WTO

The Obama administration welcomed Russia''s membership in the World Trade Organisation Wednesday, but said exporters would be disadvantaged unless Congress repeals Russia''s Cold War-era trade status. "We congratulate Russia on joining the World Trade Org
Published 23 Aug, 2012 12:00am
US Cold War trade rule stays as Russia joins WTO

US Cold War trade rule stays as Russia joins WTO

The Obama administration welcomed Russia's membership in the World Trade Organisation Wednesday, but said exporters would be disadvantaged unless Congress repeals Russia's Cold War-era trade status. "We congratulate Russia on joining the World Trade Organ
Published 23 Aug, 2012 12:00am
US Cold War trade rule stays as Russia joins WTO

US Cold War trade rule stays as Russia joins WTO

The Obama administration welcomed Russia's membership in the World Trade Organisation Wednesday, but said exporters would be disadvantaged unless Congress repeals Russia's Cold War-era trade status. "We congratulate Russia on joining the World Trade Organ
Published 23 Aug, 2012 12:00am
Sleepy woman flies Pakistan to France... and back again

Sleepy woman flies Pakistan to France... and back again

A Frenchwoman endured an 18-hour journey from Lahore to Paris and back again after sleeping through her plane's stop in the French capital, officials said on Wednesday. Pakistan International Airlines (PIA) is investigating how ground crew failed to notic
Published 23 Aug, 2012 12:00am
Sleepy woman flies Pakistan to France... and back again

Sleepy woman flies Pakistan to France... and back again

A Frenchwoman endured an 18-hour journey from Lahore to Paris and back again after sleeping through her plane's stop in the French capital, officials said on Wednesday. Pakistan International Airlines (PIA) is investigating how ground crew failed to notic
Published 23 Aug, 2012 12:00am
Merkel tops Forbes list of powerful women; Clinton No 2

Merkel tops Forbes list of powerful women; Clinton No 2

Forbes magazine ranked German Chancellor Angela Merkel the most powerful woman in the world for the second year in a row in the annual list dominated by politicians, businesswomen and media figures. US Secretary of State Hillary Clinton placed second, fol
Published 23 Aug, 2012 12:00am
Merkel tops Forbes list of powerful women; Clinton No 2

Merkel tops Forbes list of powerful women; Clinton No 2

Forbes magazine ranked German Chancellor Angela Merkel the most powerful woman in the world for the second year in a row in the annual list dominated by politicians, businesswomen and media figures. US Secretary of State Hillary Clinton placed second, fol
Published 23 Aug, 2012 12:00am
MPs cross Wahga border to promote peace and trade

MPs cross Wahga border to promote peace and trade

In order to promote peace and trade, a delegation of leading Pakistan parliamentarians crossed Wahga border for a four-day visit to India on Wednesday. Secretary General Pakistan People''s Party (PPP) Senator Jahangir Badr led the delegation, which includ
Published 23 Aug, 2012 12:00am
MPs cross Wahga border to promote peace and trade

MPs cross Wahga border to promote peace and trade

In order to promote peace and trade, a delegation of leading Pakistan parliamentarians crossed Wahga border for a four-day visit to India on Wednesday. Secretary General Pakistan People's Party (PPP) Senator Jahangir Badr led the delegation, which include
Published 23 Aug, 2012 12:00am
MPs cross Wahga border to promote peace and trade

MPs cross Wahga border to promote peace and trade

In order to promote peace and trade, a delegation of leading Pakistan parliamentarians crossed Wahga border for a four-day visit to India on Wednesday. Secretary General Pakistan People's Party (PPP) Senator Jahangir Badr led the delegation, which include
Published 23 Aug, 2012 12:00am
Clashes kill 48 in Kenya

Clashes kill 48 in Kenya

Attackers armed with machetes, bows and arrows and spears killed at least 48 villagers and set houses ablaze in Kenya's coastal region overnight in an attack over land and water, police said on Wednesday. "They were armed with crude weapons: machetes, bow
Published 23 Aug, 2012 12:00am
Clashes kill 48 in Kenya

Clashes kill 48 in Kenya

Attackers armed with machetes, bows and arrows and spears killed at least 48 villagers and set houses ablaze in Kenya's coastal region overnight in an attack over land and water, police said on Wednesday. "They were armed with crude weapons: machetes, bow
Published 23 Aug, 2012 12:00am
UNHCR Quetta warehouse gutted in fire

UNHCR Quetta warehouse gutted in fire

A warehouse of the United Nations High Commissioner for Refugees (UNHCR) located on Airport Road in the provincial capital gutted in fire erupted in the godown here on Wednesday. A spokesperson to the UNHCR Balochistan, Ms Javeria Tareen said "fire sudden
Published 23 Aug, 2012 12:00am
UNHCR Quetta warehouse gutted in fire

UNHCR Quetta warehouse gutted in fire

A warehouse of the United Nations High Commissioner for Refugees (UNHCR) located on Airport Road in the provincial capital gutted in fire erupted in the godown here on Wednesday. A spokesperson to the UNHCR Balochistan, Ms Javeria Tareen said "fire sudden
Published 23 Aug, 2012 12:00am
Quetta bomb attack kills two, injures 11

Quetta bomb attack kills two, injures 11

Two civilians were killed and 11 others injured including three children when a car bomb targeted a paramilitary convoy here on Tuesday, officials said. The explosives-packed car went off after vehicles of the paramilitary Frontier Corps (FC) passed, FC s
Published 23 Aug, 2012 12:00am
Quetta bomb attack kills two, injures 11

Quetta bomb attack kills two, injures 11

Two civilians were killed and 11 others injured including three children when a car bomb targeted a paramilitary convoy here on Tuesday, officials said. The explosives-packed car went off after vehicles of the paramilitary Frontier Corps (FC) passed, FC s
Published 23 Aug, 2012 12:00am
Two German tourists, two pilots killed in Kenya air crash

Two German tourists, two pilots killed in Kenya air crash

Two German tourists and two pilots were killed when their airplane crashed Wednesday in Kenya's renowned Maasai Mara national park, with at least three other tourists badly injured, police said. "Four people died on the spot, while three others were serio
Published 23 Aug, 2012 12:00am
Hiroshima backs D-Day beaches' UNESCO bid

Hiroshima backs D-Day beaches' UNESCO bid

The Japanese city of Hiroshima, devastated by a World War II atomic bomb, has backed the granting of world heritage site status to the D-Day landing beaches in France, a local official said Wednesday. The support for the bid for the coveted status - grant
Published 23 Aug, 2012 12:00am
Zuma warns mining firms after police killings

Zuma warns mining firms after police killings

South African President Jacob Zuma on Wednesday warned mining firms they could lose their licences if they failed to provide decent housing for workers, a week after 44 miners died in a wildcat strike. Even as Zuma issued the warning - following a meeting
Published 23 Aug, 2012 12:00am
Guantanamo 9/11 hearings postponed due to storm

Guantanamo 9/11 hearings postponed due to storm

The US military said Wednesday it has postponed preliminary hearings for the trial of alleged September 11 plotters held at Guantanamo Bay because of Tropical Storm Isaac. Already postponed due to the Muslim holy month of Ramadan and a technical glitch, t
Published 23 Aug, 2012 12:00am
Futures spreads down 252bps

Futures spreads down 252bps

The futures spreads significantly declined by 252bps during the week ended August 16, 2012 to 7.69 percent as compared to 10.21 percent a week earlier. The market witnessed healthy trading activity at the futures counter as the average daily volumes incre
Published 23 Aug, 2012 12:00am
Futures spreads down 252bps

Futures spreads down 252bps

The futures spreads significantly declined by 252bps during the week ended August 16, 2012 to 7.69 percent as compared to 10.21 percent a week earlier. The market witnessed healthy trading activity at the futures counter as the average daily volumes incre
Published 23 Aug, 2012 12:00am
Futures spreads down 252bps

Futures spreads down 252bps

The futures spreads significantly declined by 252bps during the week ended August 16, 2012 to 7.69 percent as compared to 10.21 percent a week earlier. The market witnessed healthy trading activity at the futures counter as the average daily volumes incre
Published 23 Aug, 2012 12:00am
Bulls rule stock market

Bulls rule stock market

The Karachi share market witnessed bullish trend during the week ended August 16, 2012 on the back of SBP''s decision to cut the discount rate by150bps. The benchmark KSE-100 index surged by 238.59 points and closed above 15,000 psychological level at 15,
Published 23 Aug, 2012 12:00am
Bulls rule stock market

Bulls rule stock market

The Karachi share market witnessed bullish trend during the week ended August 16, 2012 on the back of SBP's decision to cut the discount rate by150bps. The benchmark KSE-100 index surged by 238.59 points and closed above 15,000 psychological level at 15,0
Published 23 Aug, 2012 12:00am
Bulls rule stock market

Bulls rule stock market

The Karachi share market witnessed bullish trend during the week ended August 16, 2012 on the back of SBP's decision to cut the discount rate by150bps. The benchmark KSE-100 index surged by 238.59 points and closed above 15,000 psychological level at 15,0
Published 23 Aug, 2012 12:00am
Iran to host 30 leaders at 'historic' NAM summit

Iran to host 30 leaders at 'historic' NAM summit

Iran is to host some 30 leaders, including those of India, Egypt and Cuba, at an August 30-31 summit of the Non-Aligned Movement (NAM) that officials are billing as proof the Islamic republic is not as isolated as the West would like. "So far, more than 1
Published 23 Aug, 2012 12:00am
Iran to host 30 leaders at 'historic' NAM summit

Iran to host 30 leaders at 'historic' NAM summit

Iran is to host some 30 leaders, including those of India, Egypt and Cuba, at an August 30-31 summit of the Non-Aligned Movement (NAM) that officials are billing as proof the Islamic republic is not as isolated as the West would like. "So far, more than 1
Published 23 Aug, 2012 12:00am
Government mulling banning pre-paid SIMs: Malik

Government mulling banning pre-paid SIMs: Malik

The government is considering banning pre-paid SIMS in a bid to increase security vigilance and curb terrorist activities, Federal Interior Minister Rehman Malik said on Wednesday. Talking to reporters here, he said that a final decision in this regard wo
Published 23 Aug, 2012 12:00am
Government mulling banning pre-paid SIMs: Malik

Government mulling banning pre-paid SIMs: Malik

The government is considering banning pre-paid SIMS in a bid to increase security vigilance and curb terrorist activities, Federal Interior Minister Rehman Malik said on Wednesday. Talking to reporters here, he said that a final decision in this regard wo
Published 23 Aug, 2012 12:00am
Government mulling banning pre-paid SIMs: Malik

Government mulling banning pre-paid SIMs: Malik

The government is considering banning pre-paid SIMS in a bid to increase security vigilance and curb terrorist activities, Federal Interior Minister Rehman Malik said on Wednesday. Talking to reporters here, he said that a final decision in this regard wo
Published 23 Aug, 2012 12:00am
IP pipeline to reach border by September 2013

IP pipeline to reach border by September 2013

Iran-Pakistan gas pipeline will touch the border by September 21 next year, Managing Director of National Iranian Gas Company (NIGC) Javad Oji said on Wednesday. Oji said that the 56-inch Iranshahr-Pakistan border Chabahar-Zahedan pipeline would completed
Published 23 Aug, 2012 12:00am
IP pipeline to reach border by September 2013

IP pipeline to reach border by September 2013

Iran-Pakistan gas pipeline will touch the border by September 21 next year, Managing Director of National Iranian Gas Company (NIGC) Javad Oji said on Wednesday. Oji said that the 56-inch Iranshahr-Pakistan border Chabahar-Zahedan pipeline would completed
Published 23 Aug, 2012 12:00am
IP pipeline to reach border by September 2013

IP pipeline to reach border by September 2013

Iran-Pakistan gas pipeline will touch the border by September 21 next year, Managing Director of National Iranian Gas Company (NIGC) Javad Oji said on Wednesday. Oji said that the 56-inch Iranshahr-Pakistan border Chabahar-Zahedan pipeline would completed
Published 23 Aug, 2012 12:00am
SRO 648(I)/2011: waiver under amnesty scheme notified

SRO 648(I)/2011: waiver under amnesty scheme notified

The waiver from payment of default surcharge and penalty under the provisions of Sales Tax Act, 1990 and Federal Excise Act, 2005 could be claimed by the taxpayers under the amnesty scheme notified through SRO 648(I)/2011 dated June 25, 2011 even if princ
Published 23 Aug, 2012 12:00am
SRO 648(I)/2011: waiver under amnesty scheme notified

SRO 648(I)/2011: waiver under amnesty scheme notified

The waiver from payment of default surcharge and penalty under the provisions of Sales Tax Act, 1990 and Federal Excise Act, 2005 could be claimed by the taxpayers under the amnesty scheme notified through SRO 648(I)/2011 dated June 25, 2011 even if princ
Published 23 Aug, 2012 12:00am
SRO 648(I)/2011: waiver under amnesty scheme notified

SRO 648(I)/2011: waiver under amnesty scheme notified

The waiver from payment of default surcharge and penalty under the provisions of Sales Tax Act, 1990 and Federal Excise Act, 2005 could be claimed by the taxpayers under the amnesty scheme notified through SRO 648(I)/2011 dated June 25, 2011 even if princ
Published 23 Aug, 2012 12:00am
SRO 648(I)/2011: waiver under amnesty scheme notified

SRO 648(I)/2011: waiver under amnesty scheme notified

The waiver from payment of default surcharge and penalty under the provisions of Sales Tax Act, 1990 and Federal Excise Act, 2005 could be claimed by the taxpayers under the amnesty scheme notified through SRO 648(I)/2011 dated June 25, 2011 even if princ
Published 23 Aug, 2012 12:00am
PPL cuts Sui gas reserves'' depletion to three percent a year

PPL cuts Sui gas reserves'' depletion to three percent a year

The continuous depleting trend of the country''s oldest and largest natural gas reserves in Sui have been successfully reduced to just three percent per annum. Pakistan Petroleum Limited (PPL), the operator of the Sui Gas Field (SGF), has been trying to r
Published 23 Aug, 2012 12:00am
PPL cuts Sui gas reserves' depletion to three percent a year

PPL cuts Sui gas reserves' depletion to three percent a year

The continuous depleting trend of the country's oldest and largest natural gas reserves in Sui have been successfully reduced to just three percent per annum. Pakistan Petroleum Limited (PPL), the operator of the Sui Gas Field (SGF), has been trying to re
Published 23 Aug, 2012 12:00am
PPL cuts Sui gas reserves' depletion to three percent a year

PPL cuts Sui gas reserves' depletion to three percent a year

The continuous depleting trend of the country's oldest and largest natural gas reserves in Sui have been successfully reduced to just three percent per annum. Pakistan Petroleum Limited (PPL), the operator of the Sui Gas Field (SGF), has been trying to re
Published 23 Aug, 2012 12:00am
POL, CNG prices increased

POL, CNG prices increased

The Federal government on Wednesday decided to increase the prices of petroleum products in the country. The new prices will be implemented after midnight of Wednesday. The government has decided to increase petroleum prices from August 23.
Published 23 Aug, 2012 12:00am
POL, CNG prices increased

POL, CNG prices increased

The Federal government on Wednesday decided to increase the prices of petroleum products in the country. The new prices will be implemented after midnight of Wednesday. The government has decided to increase petroleum prices from August 23.
Published 23 Aug, 2012 12:00am
POL, CNG prices increased

POL, CNG prices increased

The Federal government on Wednesday decided to increase the prices of petroleum products in the country. The new prices will be implemented after midnight of Wednesday. The government has decided to increase petroleum prices from August 23.
Published 23 Aug, 2012 12:00am
India''''s opposition to block parliament until Prime Minister resigns

India''''s opposition to block parliament until Prime Minister resigns

India''''s opposition vowed on Wednesday to block parliamentary proceedings until the prime minister resigned over a coal scandal, raising the prospect of more legislative deadlock and stalled reforms. Prime Minister Manmohan Singh was implicated by the n
Published 23 Aug, 2012 12:00am
India''s opposition to block parliament until Prime Minister resigns

India''s opposition to block parliament until Prime Minister resigns

India''s opposition vowed on Wednesday to block parliamentary proceedings until the prime minister resigned over a coal scandal, raising the prospect of more legislative deadlock and stalled reforms. Prime Minister Manmohan Singh was implicated by the nat
Published 23 Aug, 2012 12:00am
India's opposition to block parliament until Prime Minister resigns

India's opposition to block parliament until Prime Minister resigns

India's opposition vowed on Wednesday to block parliamentary proceedings until the prime minister resigned over a coal scandal, raising the prospect of more legislative deadlock and stalled reforms. Prime Minister Manmohan Singh was implicated by the nati
Published 23 Aug, 2012 12:00am
India's opposition to block parliament until Prime Minister resigns

India's opposition to block parliament until Prime Minister resigns

India's opposition vowed on Wednesday to block parliamentary proceedings until the prime minister resigned over a coal scandal, raising the prospect of more legislative deadlock and stalled reforms. Prime Minister Manmohan Singh was implicated by the nati
Published 23 Aug, 2012 12:00am
India banking strike clouds financial reform hopes

India banking strike clouds financial reform hopes

Bank transactions and some market operations were hit in India after about one million bank employees began a two-day strike on Wednesday to protest against reforms that will give investors more clout in the tightly controlled sector.
Published 23 Aug, 2012 12:00am
India banking strike clouds financial reform hopes

India banking strike clouds financial reform hopes

Bank transactions and some market operations were hit in India after about one million bank employees began a two-day strike on Wednesday to protest against reforms that will give investors more clout in the tightly controlled sector.
Published 23 Aug, 2012 12:00am
India banking strike clouds financial reform hopes

India banking strike clouds financial reform hopes

Bank transactions and some market operations were hit in India after about one million bank employees began a two-day strike on Wednesday to protest against reforms that will give investors more clout in the tightly controlled sector.
Published 23 Aug, 2012 12:00am
RBS, Commerzbank drawn into US Iran money probe

RBS, Commerzbank drawn into US Iran money probe

US authorities are investigating Royal Bank of Scotland and Commerzbank over possible breaches of sanctions on Iran, in a widening crackdown which has already cost Standard Chartered a hefty fine. An RBS spokeswoman declined detailed comment on Wednesday
Published 23 Aug, 2012 12:00am
RBS, Commerzbank drawn into US Iran money probe

RBS, Commerzbank drawn into US Iran money probe

US authorities are investigating Royal Bank of Scotland and Commerzbank over possible breaches of sanctions on Iran, in a widening crackdown which has already cost Standard Chartered a hefty fine. An RBS spokeswoman declined detailed comment on Wednesday
Published 23 Aug, 2012 12:00am
RBS, Commerzbank drawn into US Iran money probe

RBS, Commerzbank drawn into US Iran money probe

US authorities are investigating Royal Bank of Scotland and Commerzbank over possible breaches of sanctions on Iran, in a widening crackdown which has already cost Standard Chartered a hefty fine. An RBS spokeswoman declined detailed comment on Wednesday
Published 23 Aug, 2012 12:00am
Wheat exports rise 200 percent

Wheat exports rise 200 percent

Following the rising demand and better price in the world market, Pakistan''s wheat exports has again picked up, witnessing some 200 percent growth during the first month of the current fiscal year. Exporters told Business Recorder on Wednesday tha
Published 23 Aug, 2012 12:00am
Wheat exports rise 200 percent

Wheat exports rise 200 percent

Following the rising demand and better price in the world market, Pakistan's wheat exports has again picked up, witnessing some 200 percent growth during the first month of the current fiscal year. Exporters told Business Recorder on Wednesday that
Published 23 Aug, 2012 12:00am
Wheat exports rise 200 percent

Wheat exports rise 200 percent

Following the rising demand and better price in the world market, Pakistan's wheat exports has again picked up, witnessing some 200 percent growth during the first month of the current fiscal year. Exporters told Business Recorder on Wednesday that
Published 23 Aug, 2012 12:00am
Rain torrents sweep away eight persons in Azakhel: flood warning issued

Rain torrents sweep away eight persons in Azakhel: flood warning issued

Eight persons were swept away on Wednesday after heavy rains triggered a flash flood in a seasonal stream in Azakhel in Nowshera district. Rescue workers have so far recovered three bodies of the victims. Talking to reporters, Director of Relief Operation
Published 23 Aug, 2012 12:00am
Rain torrents sweep away eight persons in Azakhel: flood warning issued

Rain torrents sweep away eight persons in Azakhel: flood warning issued

Eight persons were swept away on Wednesday after heavy rains triggered a flash flood in a seasonal stream in Azakhel in Nowshera district. Rescue workers have so far recovered three bodies of the victims. Talking to reporters, Director of Relief Operation
Published 23 Aug, 2012 12:00am
The Weather

The Weather

The weather report on Wednesday (August 22, 2012) and the forecast for Thursday (August 23, 2012).

Published 23 Aug, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (August 22, 2012).

Published 23 Aug, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 23 Aug, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 23 Aug, 2012 12:00am
US defends restrictions on Argentine lemons, beef

US defends restrictions on Argentine lemons, beef

The United States on Wednesday defended restrictions on imports of beef and lemons from Argentina after the South American country said it planned to challenge the measures at the World Trade Organisation. The defence came amid escalating tensions over Ar
Published 23 Aug, 2012 12:00am
BHP Billiton delays $20 billion Olympic Dam project

BHP Billiton delays $20 billion Olympic Dam project

Top global miner BHP Billiton delayed its planned $20 billion Olympic Dam copper expansion on Wednesday and said no major projects would be approved in the year to June 2013, as it battles escalating capital costs. BHP reported a 35 percent slide in secon
Published 23 Aug, 2012 12:00am
Spain enjoys record tourist numbers in July

Spain enjoys record tourist numbers in July

Holidaymakers headed to recession-hit Spain in record numbers in July, official data showed Wednesday, propelled in particular by a boom in the number of German tourists. Foreign tourist numbers surged by 328,000, or 4.4 percent, from last year to an unpr
Published 23 Aug, 2012 12:00am
Apple, Foxconn improve China plants, but more to do

Apple, Foxconn improve China plants, but more to do

Apple Inc and Foxconn have improved working conditions at Chinese factories that make most of the world's iPads and iPhones, according to auditors the firms enlisted to monitor the process, but tough tasks lie ahead.
Published 23 Aug, 2012 12:00am
Greek Prime Minister seeks 'breathing space' as talks begin

Greek Prime Minister seeks 'breathing space' as talks begin

Greece's Prime Minister Antonis Samaras started a European charm offensive on Wednesday with an appeal to Germans for more time to meet targets for deficit cuts, but may struggle to make his case in meetings this week with EU leaders. "All we want is a bi
Published 23 Aug, 2012 12:00am
US home resales rise; housing recovery inches along

US home resales rise; housing recovery inches along

US home resales rose in July, helped by low interest rates and increased hiring although the data still pointed to a slow recovery in housing that will provide only slight support for the economy. Sales of previously owned homes rose 2.3 percent to an ann
Published 23 Aug, 2012 12:00am
US court strikes down EPA rule on coal pollution

US court strikes down EPA rule on coal pollution

A US appeals court on Tuesday overturned a key Obama administration rule to reduce harmful emissions from coal-burning power plants, sparking a rally in coal company shares and relief among utility firms. The US Court of Appeals for the D.C. Circuit said
Published 23 Aug, 2012 12:00am
Japan's exports slump

Japan's exports slump

Japan's exports slumped the most in six months in July as shipments to Europe and China tumbled, adding to concerns over global demand after a string of dire trade figures from Asia's export engines. The 8.1 percent annual fall was far deeper than economi
Published 23 Aug, 2012 12:00am
Israeli job losses reach three-year high

Israeli job losses reach three-year high

The number of Israelis fired from their jobs reached a three-year peak in June, with women the worst hit, the Israeli Employment Service said in a report published on Wednesday. "The total number of those dismissed in the month of June stood at 16,084 (th
Published 23 Aug, 2012 12:00am
Credit tightens, bad loans jump for Portuguese firms

Credit tightens, bad loans jump for Portuguese firms

Overdue loans held by struggling Portuguese companies rose to record highs in June as credit conditions tightened, suggesting the debt-scarred country's economy will slump further before it recovers. Outstanding corporate borrowing by companies dropped to
Published 23 Aug, 2012 12:00am
Egypt seeks $4.8 billion IMF loan

Egypt seeks $4.8 billion IMF loan

Egypt has requested a $4.8 billion loan from the International Monetary Fund and hopes for a deal by the end of year, officials said during a visit on Wednesday by IMF chief Christine Lagarde to discuss helping the ailing economy. Egypt said last week it
Published 23 Aug, 2012 12:00am
South Korean shares slip

South Korean shares slip

South Korean shares fell on Wednesday for a fourth straight session, dragged down by shipmakers, as investors grew impatient with the European Central Bank to flesh out its plans for the debt-laden economies in the euro zone. The market faced further pres
Published 23 Aug, 2012 12:00am
Nikkei average falls

Nikkei average falls

The Nikkei share average fell on Wednesday after a recent rally, pulled down by investors' growing impatience with the European Central Bank to act soon to stem the euro zone's debt crisis. Weak Japanese export data added to the pessimism. Having banked o
Published 23 Aug, 2012 12:00am
Wednesday's afternoon trade: stocks dip on Japan data

Wednesday's afternoon trade: stocks dip on Japan data

US stocks declined on Wednesday as weak export data from Japan and Greece's meetings this week with European Union officials gave investors reasons to pull back after the recent rally. Japan's exports slumped the most in six months in July as shipments to
Published 23 Aug, 2012 12:00am
US stocks slip after S&P 500 hits four-year high

US stocks slip after S&P 500 hits four-year high

US stocks fell on Tuesday after the S&P 500 hit its highest level in four years as the benchmark index faced technical resistance and traders cashed in recent gains. The S&P 500 index hit 1,426.68, its highest intraday rise since May 2008. Volume has been
Published 23 Aug, 2012 12:00am
Most Southeast Asian stocks lower

Most Southeast Asian stocks lower

Southeast Asian stock markets ended mostly lower on Wednesday, with Singapore edging down to the lowest close in three weeks while Vietnam extended losses for a second day, pointing to further weakness ahead amid concerns about the bank sector's arrest. T
Published 23 Aug, 2012 12:00am
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