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Print - 2012-10-21
HP to end storage resale deal with Violin Memory

HP to end storage resale deal with Violin Memory

Hewlett-Packard plans to end its agreement selling solid-state storage devices made by Violin Memory, potentially complicating Violin Memory's plan for an initial public offering, Bloomberg reported. HP will wrap up its deal with Violin Memory, one of a g
Published 21 Oct, 2012 12:00am
Turkmenistan approves $1.2 billion budget deficit for 2013

Turkmenistan approves $1.2 billion budget deficit for 2013

Turkmenistan's parliament has approved a $1.2 billion budget deficit for next year to help fund plans to raise salaries and pensions in the gas-rich former Soviet republic, state media reported on Saturday. The state budget for 2013 envisages outgoings of
Published 21 Oct, 2012 12:00am
Italian dairies can survive without quotas

Italian dairies can survive without quotas

Italy's dairy sector will survive the ending of European Union milk production limits in 2015, agriculture minister Mario Catania told Reuters. "Prices will be lower and force us to be more competitive," Catania said in an interview on Saturday. "But the
Published 21 Oct, 2012 12:00am
Italian workers rally against job losses, plant closures

Italian workers rally against job losses, plant closures

Thousands of Italian trade unionists rallied in central Rome on Saturday to protest against growing job cuts and factory closures, urging Mario Monti's government to do more to help workers hit by a year-long recession. "We're here to support all the work
Published 21 Oct, 2012 12:00am
Credit Suisse to sell European ETF business

Credit Suisse to sell European ETF business

Credit Suisse Group AG has put its $17.2 billion European exchange-traded fund business up for sale, according to sources familiar with the matter. BlackRock Inc and State Street Global Advisors, the asset management arm of State Street Corp, are among th
Published 21 Oct, 2012 12:00am
Credit Suisse to sell European ETF business

Credit Suisse to sell European ETF business

Credit Suisse Group AG has put its $17.2 billion European exchange-traded fund business up for sale, according to sources familiar with the matter. BlackRock Inc and State Street Global Advisors, the asset management arm of State Street Corp, are among th
Published 21 Oct, 2012 12:00am
Goldman loses bid to end lawsuit by hedge fund over CDO

Goldman loses bid to end lawsuit by hedge fund over CDO

A judge refused to dismiss a $1.07 billion lawsuit against Goldman Sachs Group that accuses it of selling risky debt that it intended to lose value to an Australian hedge fund, causing the fund to become insolvent. New York state Supreme Court Justice Shi
Published 21 Oct, 2012 12:00am
Goldman loses bid to end lawsuit by hedge fund over CDO

Goldman loses bid to end lawsuit by hedge fund over CDO

A judge refused to dismiss a $1.07 billion lawsuit against Goldman Sachs Group that accuses it of selling risky debt that it intended to lose value to an Australian hedge fund, causing the fund to become insolvent. New York state Supreme Court Justice Shi
Published 21 Oct, 2012 12:00am
Chinese government mulls policies to support solar power industry

Chinese government mulls policies to support solar power industry

China is working on policies, including subsidies and easier access to the grid, to help its ailing solar power producers expand in the domestic market, the China Daily reported on Saturday, citing industry officials and government sources.
Published 21 Oct, 2012 12:00am
Canada blocks $5.2 billion Petronas bid for Progress Energy

Canada blocks $5.2 billion Petronas bid for Progress Energy

Canada has blocked Malaysian state oil firm Petronas' C$5.17 billion ($5.2 billion) bid for gas producer Progress Energy Resources in a surprise move that could signal problems for a much larger Chinese deal in the country's energy sector.
Published 21 Oct, 2012 12:00am
BMW to invest $395 million in new Brazil car plant

BMW to invest $395 million in new Brazil car plant

German automaker BMW plans to invest 800 million reais ($395 million) to build a new assembly plant in Brazil, sources with direct knowledge of the project told Reuters on Friday. BMW's finance chief Friedrich Eichiner told Reuters on Thursday that the co
Published 21 Oct, 2012 12:00am
Obama urges Congress to pass ''no-brainer'' mortgage relief

Obama urges Congress to pass ''no-brainer'' mortgage relief

US President Barack Obama urged Congress Saturday to pass a mortgage plan to help troubled homeowners refinance their loans and save $3,000 a year. "It''s a plan that we know will work," the president said in his weekly radio and Internet address. "It has
Published 21 Oct, 2012 12:00am
Obama urges Congress to pass 'no-brainer' mortgage relief

Obama urges Congress to pass 'no-brainer' mortgage relief

US President Barack Obama urged Congress Saturday to pass a mortgage plan to help troubled homeowners refinance their loans and save $3,000 a year. "It's a plan that we know will work," the president said in his weekly radio and Internet address. "It has
Published 21 Oct, 2012 12:00am
Obama urges Congress to pass 'no-brainer' mortgage relief

Obama urges Congress to pass 'no-brainer' mortgage relief

US President Barack Obama urged Congress Saturday to pass a mortgage plan to help troubled homeowners refinance their loans and save $3,000 a year. "It's a plan that we know will work," the president said in his weekly radio and Internet address. "It has
Published 21 Oct, 2012 12:00am
Indian bond yields fall

Indian bond yields fall

Indian federal bonds gained on Friday, driving yields towards a one-month low, as investors increased their debt holdings given no debt auctions will be held next week ahead of the central bank's policy review. Hopes the Reserve Bank of India could purcha
Published 21 Oct, 2012 12:00am
Indian bond yields fall

Indian bond yields fall

Indian federal bonds gained on Friday, driving yields towards a one-month low, as investors increased their debt holdings given no debt auctions will be held next week ahead of the central bank's policy review. Hopes the Reserve Bank of India could purcha
Published 21 Oct, 2012 12:00am
Saudi stocks end flat

Saudi stocks end flat

Saudi shares close flat on Saturday, reversing earlier losses. The all-share closes at 6,809 points. The petrochemical index slides 0.2 percent lower at 5,781 points, dragged lower by heavyweight Saudi Basic Industries Corp (SABIC) lost 0.6 percent. The b
Published 21 Oct, 2012 12:00am
Low volumes take toll on earnings at US exchanges

Low volumes take toll on earnings at US exchanges

US exchanges are expected to report lower profits for the third quarter as volumes in cash equities, options and derivatives slumped with retail investors on the sidelines amid low volatility in the markets. Daily equity volumes of NYSE-listed shares fell
Published 21 Oct, 2012 12:00am
Smaller UK share floats would help business growth

Smaller UK share floats would help business growth

Allowing companies to float as little as 10 percent of their shares in London would help more businesses grow, but should be seen as a step rather than the end result, an economic adviser to British Prime Minister David Cameron said on Wednesday. The gove
Published 21 Oct, 2012 12:00am
TSX ends four-day climb

TSX ends four-day climb

Canada's main stock index finished lower on Friday, breaking a four-day winning streak, as shares of Astral Media Inc plunged almost 16 percent after the country's broadcast regulator blocked its planned takeover by BCE Inc. Negative sentiment from quarte
Published 21 Oct, 2012 12:00am
ADR Report: shares fall with global stocks, banks drop

ADR Report: shares fall with global stocks, banks drop

US-listed shares of foreign companies fell on Friday, taking their cue from a sell-off in world stocks on concerns about Europe's debt crisis and disappointing corporate earnings in the United States. Signs of disagreement emerged from European Union lead
Published 21 Oct, 2012 12:00am
Springer Science ready for IPO

Springer Science ready for IPO

German publisher Springer Science+Business Media may list on the stock market in the near future, Frankfurter Allgemeine Sonntagszeitung (FAS) reported on Saturday. "This could be the case in a few months," chief executive Derk Haank was quoted as saying
Published 21 Oct, 2012 12:00am
JGBs snap three-session sell-off

JGBs snap three-session sell-off

Japanese government bonds snapped three sessions of decline and took back some lost ground on Friday, as investors saw a buying opportunity after benchmark yields touched a three-week high in the previous session. Strong 20-year auction results on Thursda
Published 21 Oct, 2012 12:00am
JGBs snap three-session sell-off

JGBs snap three-session sell-off

Japanese government bonds snapped three sessions of decline and took back some lost ground on Friday, as investors saw a buying opportunity after benchmark yields touched a three-week high in the previous session. Strong 20-year auction results on Thursda
Published 21 Oct, 2012 12:00am
Latam stocks drop on earnings concerns

Latam stocks drop on earnings concerns

Latin American stocks posted their biggest decline in over a week on Friday after disappointing results by some leading US companies spooked investors about the likelihood of an economic turnaround in the world's top economy. The MSCI Latin American stock
Published 21 Oct, 2012 12:00am
Sri Lankan stocks higher

Sri Lankan stocks higher

Sri Lankan stocks inched higher on Friday led by telecom shares, but trading volumes were thin as most investors stayed on the sidelines. The Colombo Stock Exchange's main index rose 0.43 percent, or 24.21 points, to 5,649.53 with No 1 mobile phone operat
Published 21 Oct, 2012 12:00am
Treasuries outlook: prices gain with rising appetite for low-risk assets

Treasuries outlook: prices gain with rising appetite for low-risk assets

US Treasury debt prices rose on Friday as a backup in yields this week brought buyers into the market, while ongoing worries about the pace of global growth pushed stocks lower and bolstered the safe-haven appeal of US government debt. Yields rose earlier
Published 21 Oct, 2012 12:00am
Treasuries outlook: prices gain with rising appetite for low-risk assets

Treasuries outlook: prices gain with rising appetite for low-risk assets

US Treasury debt prices rose on Friday as a backup in yields this week brought buyers into the market, while ongoing worries about the pace of global growth pushed stocks lower and bolstered the safe-haven appeal of US government debt. Yields rose earlier
Published 21 Oct, 2012 12:00am
Poor earnings slam Wall Street with worst loss in four months

Poor earnings slam Wall Street with worst loss in four months

US stocks suffered their worst day since late June on Friday, after bellwethers General Electric and McDonald's extended a string of disappointing earnings. The Nasdaq ended down 2.19 percent, dragged lower for a second day by Google's weak results. Micro
Published 21 Oct, 2012 12:00am
African currencies outlook: Ghana's cedi set to rally on bond auction

African currencies outlook: Ghana's cedi set to rally on bond auction

A bond auction in Ghana next week that is open to foreign investors is likely to buoy the Ghanaian cedi, while the Ugandan shilling is seen regaining stability after a three-month bout of weakness. Ghana's cedi could rally next week against the dollar tha
Published 21 Oct, 2012 12:00am
Mexican, Chilean pesos drop

Mexican, Chilean pesos drop

Mexico's peso weakened on Friday as uncertainty over a Spanish bailout left investors unwilling to take risk in emerging markets, while a drop in copper prices further weighed on the Chilean peso. The Brazilian real was stable, however, as trading slowed
Published 21 Oct, 2012 12:00am
Peru currency set to gain in 2013, defying central bank

Peru currency set to gain in 2013, defying central bank

Big mining investments and extra US monetary stimulus are set to extend a rise in Peru's currency that has already taken the sol to a 16-year high despite sweeping official efforts. Peru's central bank, which has bought a record $11.6 billion this year in
Published 21 Oct, 2012 12:00am
Euro slips against dollar as uncertainty on Spain persists

Euro slips against dollar as uncertainty on Spain persists

The euro fell against the dollar on Friday, retreating from the top of its recent trading range as a lack of visible progress on a Spanish bailout request reminded investors of the headwinds facing Europe. Expectations that Spain will ask for a bailout ha
Published 21 Oct, 2012 12:00am
Liquidity glut pushes Euribor rates lower

Liquidity glut pushes Euribor rates lower

Key Euribor bank-to-bank lending rates fell on Friday under the weight of large amounts of excess liquidity in money markets. The three-month Euribor rate, traditionally the main gauge of unsecured bank-to-bank lending, dipped to 0.204 percent from 0.205
Published 21 Oct, 2012 12:00am
Speculators boost short US dollar bets

Speculators boost short US dollar bets

Currency speculators boosted their bets against the US dollar in the latest week, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net short position rose to $8.14 billion in the week ended Octo
Published 21 Oct, 2012 12:00am
Forint-led central European currencies lower

Forint-led central European currencies lower

The forint-led central European currencies lower on Friday and Hungarian bond yields stayed near multi-year lows in hectic trade as investors digested a deficit-cutting package that relies heavily on tax hikes. The forint weakened by half a percent agains
Published 21 Oct, 2012 12:00am
Canadian dollar marks worst week since May

Canadian dollar marks worst week since May

The Canadian dollar dropped near a two-month low on Friday and marked its worst weekly performance since May on growing expectations that the Bank of Canada will sound more dovish when it sets interest rates next week. Prices in Canada remained tame in Se
Published 21 Oct, 2012 12:00am
American Van Pelt steals the lead in Perth

American Van Pelt steals the lead in Perth

Argentina's Emiliano Grillo battled bravely to hold his lead in the third round of the Perth International Saturday before being gunned down by two more experienced rivals, Americans Bo Van Pelt and Jason Dufner. World number 24 Van Pelt holed a 15-metre
Published 21 Oct, 2012 12:00am
Pakistan beat Malaysia in DG Rangers Squash final

Pakistan beat Malaysia in DG Rangers Squash final

Final of 6th DG Rangers (Sindh) International Junior Open Squash Championship 2012 was played between Pakistan's Asim Khan (Pakistan) and Muhammad Amir of (Malaysia) at Sindh Rangers Jahangir Khan Squash Complex, here on Saturday. Asim Khan played excelle
Published 21 Oct, 2012 12:00am
FIFA Referees Course begins

FIFA Referees Course begins

The five-day "FIFA MA Special Referees Course-2012" has been started here at Football House on Saturday. The course, conducted by Mohamed Muhiseen Ariff as Referee Development Officer (RDO) from Sri Lanka and Ganesh Manium, FIFA Physical Instructor from S
Published 21 Oct, 2012 12:00am
Stosur beats Ivanovic to reach Moscow final

Stosur beats Ivanovic to reach Moscow final

Top seed Samantha Stosur reached her first final in eight months with a comeback 2-6 6-3 6-2 win over fourth-seeded Serbian Ana Ivanovic in the Kremlin Cup semi-finals on Saturday. The Australian will face another former world number one Caroline Wozniack
Published 21 Oct, 2012 12:00am
All Star XI beat World XI

All Star XI beat World XI

Pakistan All Stars XI beat International World XI by 84 runs in the first Twenty20 match played at National Stadium Karachi on Saturday. The visitors could not chase a mighty total of 233 runs set by the Shahid Afridi-led team. All Stars XI fast bowler, A
Published 21 Oct, 2012 12:00am
Security tightens as high-profile cricket returns to Pakistan

Security tightens as high-profile cricket returns to Pakistan

Security was tight on Saturday as Pakistan hosted the first match of an international flavour in the country since 2009, when militants attacked a bus carrying the Sri Lankan team. A sell-out 32,000 crowd at the well-cordoned National stadium watched an I
Published 21 Oct, 2012 12:00am
Armstrong admits 'difficult' times as UCI readies response

Armstrong admits 'difficult' times as UCI readies response

Lance Armstrong has admitted to "difficult" times since the release of a report which accused the shamed cyclist of being at the heart of the most sophisticated doping programme ever seen in sport. Making his first public remarks since the release of US A
Published 21 Oct, 2012 12:00am
Lacklustre Real Madrid beat Celta

Lacklustre Real Madrid beat Celta

Gonzalo Higuain and Cristiano Ronaldo hit a goal apiece in either half as Real Madrid eased past Celta Vigo with a 2-0 victory on Saturday. Argentine striker Higuain gave the current La Liga champions a lead on 12 minutes before Ronaldo wrapped up the poi
Published 21 Oct, 2012 12:00am
Mata inspires Chelsea, Rooney fires United

Mata inspires Chelsea, Rooney fires United

Juan Mata's double helped leaders Chelsea beat Tottenham Hotspur 4-2 in a captivating London derby on Saturday and Wayne Rooney and Edin Dzeko both struck twice to keep Manchester United and Manchester City in hot pursuit. Spaniard Mata crushed former Che
Published 21 Oct, 2012 12:00am
Nine killed in clashes with Kurdish militants

Nine killed in clashes with Kurdish militants

Nine people were killed in separate clashes overnight, including six members of Turkey's security forces and three Kurdish militants, officials said on Saturday, as violence showed little sign of a letup in Turkey's troubled south-east. Three special forc
Published 21 Oct, 2012 12:00am
Europe's elite gather for Luxembourg royal wedding

Europe's elite gather for Luxembourg royal wedding

Kings and queens gathered with ordinary citizens Saturday to celebrate Luxembourg's biggest royal event in decades, when heir-to-the-throne Prince Guillaume wed Belgian countess Stephanie de Lannoy. Following a sombre religious ceremony, thousands crammed
Published 21 Oct, 2012 12:00am
Race tightens for Obama, Romney ahead of final debate

Race tightens for Obama, Romney ahead of final debate

The race between President Barack Obama and rival Mitt Romney has tightened in the days before their final televised debate, with the Republican closing the gap on Obama's slight but steady lead in a Reuters/Ipsos online poll.
Published 21 Oct, 2012 12:00am
World pledges more money to protect biodiversity

World pledges more money to protect biodiversity

Efforts to reverse the worrying loss of Earth's dwindling natural resources received a substantial boost on Saturday when a UN conference in India agreed to double biodiversity aid to poor countries. Governments reached an early-morning deal after long ni
Published 21 Oct, 2012 12:00am
Syria insists on national dialogue at Brahimi talks

Syria insists on national dialogue at Brahimi talks

Peace envoy Lakhdar Brahimi on Saturday pressed in Damascus for a truce to break the cycle of bloodshed in Syria, while the regime said a national dialogue free of foreign interference was the key. Brahimi met Foreign Minister Walid Muallem and opposition
Published 21 Oct, 2012 12:00am
Kuwaiti cabinet sets December 1 for snap polls

Kuwaiti cabinet sets December 1 for snap polls

The Kuwaiti cabinet on Saturday amended a controversial electoral law and set a December 1 date for snap polls, sparking angry opposition calls for demonstrations. "The cabinet approved the amendment of article 2 of the electoral law to change the voting
Published 21 Oct, 2012 12:00am
UN calls on Afghan Taliban to enforce ban on IEDs

UN calls on Afghan Taliban to enforce ban on IEDs

The UN urged Afghanistan's Taliban leadership Saturday to enforce their ban on improvised explosive devices, a day after 19 wedding guests were killed by a roadside bomb in the north of the country. "Although the Taliban leader Mullah Omar banned the use
Published 21 Oct, 2012 12:00am
Iceland votes on 'crowdsourced' constitution

Iceland votes on 'crowdsourced' constitution

Icelanders voted Saturday in a consultative referendum on what has been dubbed the world's first "crowdsourced constitution", but turnout was sluggish amid fears politicians would ignore the results. The new basic law was drafted by 25 ordinary citizens a
Published 21 Oct, 2012 12:00am
France says Afghanistan troop pullout faster than expected

France says Afghanistan troop pullout faster than expected

The withdrawal of French combat troops from Afghanistan will happen "a bit more quickly than anticipated" and could be completed before the end of December, France's Foreign Minister Laurent Fabius said Saturday. Fabius was interviewed by French televisio
Published 21 Oct, 2012 12:00am
China urges restraint as tensions mount between two Koreas

China urges restraint as tensions mount between two Koreas

China on Saturday urged North and South Korea to exercise restraint and safeguard peace on the peninsula, after the communist north threatened to fire on the south. Impoverished North Korea said on Friday it would attack if Seoul allowed activists to drop
Published 21 Oct, 2012 12:00am
Shootings, bombings kill 12 in Iraq

Shootings, bombings kill 12 in Iraq

Shootings and bomb attacks in Baghdad and Iraq's main northern city Mosul mostly targeting officials and security forces killed at least 12 people on Saturday, the country's deadliest day this month. In the bloodiest attack, twin roadside bombs in a marke
Published 21 Oct, 2012 12:00am
Former China president Jiang in rare public appearance

Former China president Jiang in rare public appearance

Former Chinese president Jiang Zemin has made a rare public appearance, state media reported Saturday, ahead of a pivotal Communist Party congress that will usher inn a new generation of leaders The 86-year-old, still considered an influential figure with
Published 21 Oct, 2012 12:00am
Tate says EU sugar refining regime unfair

Tate says EU sugar refining regime unfair

British sweeteners and starches maker Tate & Lyle Plc called for fairer regulation of sugar refining in the European Union, arguing that the current regime leads to windfall profits in the beet sector and big losses in refining.
Published 21 Oct, 2012 12:00am
Egypt aims to boost wheat storage, curb smuggling

Egypt aims to boost wheat storage, curb smuggling

Egypt wants to double the capacity of its wheat silos in the next three or four years and is considering changing a bread subsidy mechanism to prevent smuggling or illegal trade in subsidised grain, the state's main wheat buyer said on Wednesday.
Published 21 Oct, 2012 12:00am
Turkmenistan plans $1 billion expansion of cotton industry

Turkmenistan plans $1 billion expansion of cotton industry

Turkmenistan, lauded by the United States for banning child labour in its cotton fields, plans to seek foreign investment to help finance a $1 billion expansion programme of its cotton industry up until 2016, a senior official said.
Published 21 Oct, 2012 12:00am
India cotton likely to fall sharply in November

India cotton likely to fall sharply in November

Cotton spot prices in India, the world's second-largest producer, are likely to fall sharply in November with supplies from the new crop expected to surge, although buying from domestic mills could underpin levels in the short-term.
Published 21 Oct, 2012 12:00am
Vietnamese rice prices higher; intervention props up Thai prices

Vietnamese rice prices higher; intervention props up Thai prices

Speculation about fresh orders from Indonesia pushed Vietnamese rice prices higher this week, while government intervention supported prices in Thailand even though output from the main crop is about to peak, traders said on Wednesday.
Published 21 Oct, 2012 12:00am
New York cotton settles lower on profit taking

New York cotton settles lower on profit taking

US cotton futures closed lower on Friday on profit taking after rallying on Thursday to five-month highs when trade and speculative shorts covered positions amid fears about a US supply shortage. The most-actively traded December cotton contract on ICE Fu
Published 21 Oct, 2012 12:00am
Indonesia's Bulog approaches US on soyabean imports

Indonesia's Bulog approaches US on soyabean imports

Indonesia's state procurement body Bulog is sounding out US government officials about securing soyabean imports, an industry association official said, as the Southeast Asian country looks to bolster its defences against food inflation.
Published 21 Oct, 2012 12:00am
New York gold posts biggest one-day drop since July

New York gold posts biggest one-day drop since July

Gold fell over 1 percent to a one-month low on Friday, its biggest daily drop in more than three months, hit by technical selling and tumbling US equities on economic uncertainty around the world. Silver and platinum group metals also slid broadly after s
Published 21 Oct, 2012 12:00am
Commodity prices mostly retreat on economic strains

Commodity prices mostly retreat on economic strains

Commodity prices mainly retreated this week, pressured by a tough economic climate highlighted in part by weakening growth in the world's second biggest economy China, according to market watchers. Heading into the weekend, all eyes were on the European U
Published 21 Oct, 2012 12:00am
Job creation

Job creation

Pakistan needs 2 million new jobs every year because of its population and population growth rate. Creation of job opportunities should be every government's top priority. However, jobs must be created through an increase in economic activity instead of t
Published 21 Oct, 2012 12:00am
In shock, Lebanese fear return of deadly bombings

In shock, Lebanese fear return of deadly bombings

Fearful faces filled the debris-strewn street in central Beirut rocked by a lethal bomb blast, with bystanders expressing concern that the bombings which have been absent in recent years could return to Lebanon. A car bomb had exploded in the Christian-do
Published 21 Oct, 2012 12:00am
Philippine peace deal

Philippine peace deal

The dusty road stretched for 15 kilometres before reaching the palm oil tree plantation in the southern Philippines where workers toiled under a punishing noon-time sun. Efren Cordero, 54, was among the workers digging shallow pits to plant straight rows
Published 21 Oct, 2012 12:00am
EU still walking tightrope

EU still walking tightrope

European Union leaders emerged in the early hours of Friday after 10 hours of summit talks wielding an agreement on a eurozone banking supervisor - but were still left facing a minefield on the way to solving their debt crisis. "Last night's marathon sess
Published 21 Oct, 2012 12:00am
Unrealistic targets

Unrealistic targets

Why do our governments often fail to meet the PSDP budgetary targets? For example, in 2010-11 fiscal year, the shortfall with respect to federal PSDP was a whopping 94 billion rupees while the shortfall in provincial PSDPs was 107 billion rupees giving a
Published 21 Oct, 2012 12:00am
Prevention is better than cure

Prevention is better than cure

To act before an imminent threat hits, somehow, is not part of our officialdom's planning process. The latest example of the problem is the spread of life threatening amoeba, naegleria fowleri, which claimed several lives in Karachi earlier this month and
Published 21 Oct, 2012 12:00am
The Asian century

The Asian century

Not greatly unsettled over the ongoing political turmoil in the country both the president and the prime minister were away from the country early this week, looking for alternatives to traditional sources for political support and economic co-operation w
Published 21 Oct, 2012 12:00am
PIA pre-Hajj operation concludes

PIA pre-Hajj operation concludes

PIA Pre-Hajj operation of transporting the intending pilgrims to Saudi Arabia concluded successfully with overall flights' punctuality over 96 percent and seat factor of 99 percent: PIA Spokesman said it here on Saturday. PIA carried 82,823 intending pilg
Published 21 Oct, 2012 12:00am
MCB, Adamjee Life launch i-Insure Plus

MCB, Adamjee Life launch i-Insure Plus

Adamjee Life and MCB Bank held a joint ceremony at a local hotel to celebrate the launch of i-Insure Plus (monthly income benefit) plan in association with MCB Consumer Lending division. The i-Insure Plus is specially designed for MCB Credit Card customer
Published 21 Oct, 2012 12:00am
CEO&MD PSO receives award

CEO&MD PSO receives award

Naeem Yahya Mir, CEO and MD of Pakistan State Oil (PSO), the nation's largest energy company received the Best CEO Award for the Oil and Gas sector at the 2nd Annual CEO/CFO/CIO Award ceremony. The event was organised by Mass Human Resource Services in co
Published 21 Oct, 2012 12:00am
Stakeholders to be consulted on drug pricing policy: CEO DRA

Stakeholders to be consulted on drug pricing policy: CEO DRA

The CEO Drug Regulatory Authority (DRA) has said that pricing policy will be finalised in consultation with all stakeholders. Arshad Farooq Faheem, CEO of the Drug Regulatory Authority, met with the Pharma Bureau, the organisation of the research based ph
Published 21 Oct, 2012 12:00am
Festival on bonded child labour held

Festival on bonded child labour held

Society for the Protection of the Rights of the Child arranged one-day festival on Child Bonded Labour in which members from the civil society, journalists, intellectuals, poets, official from labour department, labourers, politicians, advocates, students
Published 21 Oct, 2012 12:00am
Anti-encroachment drive in Shah Faisal Town

Anti-encroachment drive in Shah Faisal Town

An anti-encroachment drive was launched in union councils 3 and 6 of Shah Faisal Town on Saturday in which various illegal encroachments were removed to ensure smooth traffic flow. Chief Town Officer Kamal Mustafa said that the anti-encroachment operation
Published 21 Oct, 2012 12:00am
'Over one million are suffering from Alzheimer in Pakistan'

'Over one million are suffering from Alzheimer in Pakistan'

Pakistan Society of Neurology (PSN) to raise awareness about Alzheimer's disease organised outside Karachi Press Club (KPC) a walk on Saturday morning. A large number of people from different walks of life including doctors, civil society, students and pa
Published 21 Oct, 2012 12:00am
Orientation programme held at UVAS

Orientation programme held at UVAS

The University of Veterinary and Animal Sciences (UVAS) Lahore arranged an orientation program for the newly-admitted undergraduate students in the university auditorium on Saturday. Chairing the orientation program, vice-chancellor Professor Dr Talat Nas
Published 21 Oct, 2012 12:00am
World Osteoporosis Day observed

World Osteoporosis Day observed

World Osteoporosis Day was observed on Saturday across the world including Pakistan to highlight the importance of bone health and the debilitating effects of osteoporosis. Osteoporosis is a 'silent disease'‚ a chronic condition caused by the slow loss of
Published 21 Oct, 2012 12:00am
Markets hit by shortage of life-saving drugs, antibiotics

Markets hit by shortage of life-saving drugs, antibiotics

The shortage of life-saving drugs, antibiotics and other medicines used to treat flu, fever, cold and coughs persist in the market with significant increase in prices, revealed a survey conducted by Business Recorder. Traders in different markets o
Published 21 Oct, 2012 12:00am
Elahi seeks verdict's implementation

Elahi seeks verdict's implementation

Deputy Prime Minister and PML-Q senior leader Chaudhry Pervaiz Elahi has welcomed the decision of Supreme Court of Pakistan in Asghar Khan case and said all those politicians who had been exposed for receiving money be declared disqualified.
Published 21 Oct, 2012 12:00am
Islamabad bar observes strike against lawyer's killing

Islamabad bar observes strike against lawyer's killing

Islamabad Bar Association (IBA) on Saturday observed complete strike in protest against the brutal killing of Syed Shakir Ali Rizvi near Lahore High Court. While talking to APP, IBA General Secretary Chaudhry Muhammad Ayyub Arbab Gujjar told that IBA felt
Published 21 Oct, 2012 12:00am
CJP forms two benches for next week

CJP forms two benches for next week

Chief Justice of Pakistan (CJP), Iftikhar Muhammad Chaudhry has constituted two benches at the principal seat to hear a number of important cases next week. According to the cause list, the first bench consists of the Chief Justice and Justice Jawwad S Kh
Published 21 Oct, 2012 12:00am
Crimes on the rise: police accused of failing to register cases

Crimes on the rise: police accused of failing to register cases

In spite of tall claims by the high-ups of the capital police, the incidents of car lifting and snatching are on the rise in the metropolis, but police officials mostly did not register car lifting cases or register them under other sections of law to hid
Published 21 Oct, 2012 12:00am
Education key to overcoming challenges: Shahbaz

Education key to overcoming challenges: Shahbaz

Punjab Chief Minister Shahbaz Sharif has said that Pakistan is facing serious challenges like terrorism, loadshedding and corruption which can be overcome through promotion of education and national approach. He said that the rulers should spend the natio
Published 21 Oct, 2012 12:00am
Burden of proof placed on federal government: experts

Burden of proof placed on federal government: experts

The burden of proof lies with the federal government after the Supreme Court settled a 16-year-old case filed by former Air Marshal Asghar Khan, directing it to take action against elements involved in the disbursement of substantial amounts to manipulate
Published 21 Oct, 2012 12:00am
Supreme Court verdict implementation a test case for government: PTI

Supreme Court verdict implementation a test case for government: PTI

Implementing the Supreme Court's judgement in the Asghar Khan case will be a test case for the PPP-led coalition government, an office-bearer of Pakistan Tehreek-e-Insaf (PTI) said PTI's Central Vice-President Ali Asghar Khan said while addressing a press
Published 21 Oct, 2012 12:00am
Annual Naat competition held

Annual Naat competition held

Annual Naat competition held among Girls Middle Schools of the public sector was won by Government Middle School New Karimpora, Peshawar. The Annual Naat competition, arranged by Elementary and Secondary Education (Female) Distt Peshawar, was held at Gove
Published 21 Oct, 2012 12:00am
International infection prevention week held

International infection prevention week held

The International Infection Prevention Week, organised by Shaukat Khanum Memorial Cancer Hospital and Research Centre from 14th to 20th of October 2012, concluded here on Saturday. According to the Hospital's spokesman, this week is celebrated globally to
Published 21 Oct, 2012 12:00am
Mehtab calls on Punjab chief minister

Mehtab calls on Punjab chief minister

Senior PML-N leader and former Chief Minister Khyber Pukhtunkhwa, Sardar Mehtab Khan Abbasi called on Punjab Chief Minister Muhammad Shahbaz Sharif at Model Town Saturday. Murtaza Javed Abbasi MNA was also present on the occasion. Organisational matters o
Published 21 Oct, 2012 12:00am
LDA's operation against illegal constructions continues

LDA's operation against illegal constructions continues

During its operation against illegal constructions, staff of the Town Planning Wing of the Lahore Development Authority (LDA) partially demolished two buildings. According to a LDA's spokesperson here on Saturday, an under-construction warehouse that was
Published 21 Oct, 2012 12:00am
Punjab government to audit accounts of district health offices soon

Punjab government to audit accounts of district health offices soon

Punjab Chief Minister Muhammad Shahbaz Sharif approved an amount of Rs 500 million for extending free health facilities in labour room and Paediatric indoor units of DHQ and THQ hospitals in the province. This was revealed by Director General Health Dr Ni
Published 21 Oct, 2012 12:00am
Industrialists, exporters oppose three-day gas loadshedding

Industrialists, exporters oppose three-day gas loadshedding

Textile industrialists and exporters have strongly opposed one day increase in gas load-shedding for industry and termed it a deliberate attempt to shatter the export oriented textile industry. This would inflict a loss of one billion rupees daily in expo
Published 21 Oct, 2012 12:00am
Man burns his wife to death

Man burns his wife to death

One Kashif Ali burnt his wife Afshan bibi (35) in Alipur on Saturday. She was mother of three children. DPO Muzaffargarh Zeeshan Asghar said, "we have arrested the culprit Kashif (40) who had confessed the crime," Police said that Kashif was drunk and he
Published 21 Oct, 2012 12:00am
Khosa for demilitarisation of Siachen

Khosa for demilitarisation of Siachen

Punjab Governor Latif Khosa on Saturday said that deployment of troops by Pakistan and India at the Siachen glacier, the world's highest battlefield, is stupidity. The Siachen glacier lies at more than 5,500m above sea level in Kashmir. Speaking at Pak-In
Published 21 Oct, 2012 12:00am
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