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Print - 2012-11-10
Malala Zindabad convention today

Malala Zindabad convention today

International Human Rights Observer (IHRO) will organise "First Malala Zindabad Convention" to celebrate International Malala Day on November 10. Malala Day was announced by Gordon Brown, United Nations Special Envoy on Global education, said a press rele
Published 10 Nov, 2012 12:00am
FWBL lauded for promoting economic development

FWBL lauded for promoting economic development

President Islamabad Women's Chamber of Commerce and Industry (IWCCI) Farida Rashid on Friday said First Women Bank Limited (FWBL) has been rendering invaluable services by promoting education, self-reliance and economic prosperity and women empowerment.
Published 10 Nov, 2012 12:00am
Jobs a cornerstone of development: World Bank

Jobs a cornerstone of development: World Bank

In developing countries, jobs are a cornerstone of development with a dividend far beyond income alone. They are critical for reducing poverty, making cities work, and providing youth with alternatives to violence, says a World Bank report.
Published 10 Nov, 2012 12:00am
Putin fires top general after graft scandal

Putin fires top general after graft scandal

Russian President Vladimir Putin replaced the chief of his military staff on Friday in a reshuffle that stamped the authority of the Kremlin chief, and his new defence minister, on the armed forces after a corruption scandal. Putin removed General Nikolai
Published 10 Nov, 2012 12:00am
Putin fires top general after graft scandal

Putin fires top general after graft scandal

Russian President Vladimir Putin replaced the chief of his military staff on Friday in a reshuffle that stamped the authority of the Kremlin chief, and his new defence minister, on the armed forces after a corruption scandal. Putin removed General Nikolai
Published 10 Nov, 2012 12:00am
Customs clearance facility soon to be set up at Wagha

Customs clearance facility soon to be set up at Wagha

The government is likely to set up a customs clearance facility at Wagah border in a bid to facilitate trade normalisation with India which is expected by December this year, Business Recorder learnt on Friday. According to sources, both countries
Published 10 Nov, 2012 12:00am
Customs clearance facility soon to be set up at Wagha

Customs clearance facility soon to be set up at Wagha

The government is likely to set up a customs clearance facility at Wagah border in a bid to facilitate trade normalisation with India which is expected by December this year, Business Recorder learnt on Friday. According to sources, both countries
Published 10 Nov, 2012 12:00am
Customs clearance facility soon to be set up at Wagha

Customs clearance facility soon to be set up at Wagha

The government is likely to set up a customs clearance facility at Wagah border in a bid to facilitate trade normalisation with India which is expected by December this year, Business Recorder learnt on Friday. According to sources, both countries
Published 10 Nov, 2012 12:00am
Chinese locomotives: minister terms deal ''indecent''

Chinese locomotives: minister terms deal ''indecent''

Federal Minister Sheikh Waqas Akram has termed the deal for the procurement of 75 Chinese locomotives ''indecent'' and recommended a fresh pact on better terms with the Chinese company in the best national interest. Sheikh, who belongs to Pakistan Muslim
Published 10 Nov, 2012 12:00am
Chinese locomotives: minister terms deal 'indecent'

Chinese locomotives: minister terms deal 'indecent'

Federal Minister Sheikh Waqas Akram has termed the deal for the procurement of 75 Chinese locomotives 'indecent' and recommended a fresh pact on better terms with the Chinese company in the best national interest. Sheikh, who belongs to Pakistan Muslim Le
Published 10 Nov, 2012 12:00am
Chinese locomotives: minister terms deal 'indecent'

Chinese locomotives: minister terms deal 'indecent'

Federal Minister Sheikh Waqas Akram has termed the deal for the procurement of 75 Chinese locomotives 'indecent' and recommended a fresh pact on better terms with the Chinese company in the best national interest. Sheikh, who belongs to Pakistan Muslim Le
Published 10 Nov, 2012 12:00am
Pillion-riding banned in Karachi

Pillion-riding banned in Karachi

Sindh Govern-ment on Friday again banned pillion-riding for 17 days in Karachi and Khairpur Mir's on the pretext of maintaining law and order situation during the month of Muharram. A notification to this effect was issued here by the provincial home depa
Published 10 Nov, 2012 12:00am
Pillion-riding banned in Karachi

Pillion-riding banned in Karachi

Sindh Govern-ment on Friday again banned pillion-riding for 17 days in Karachi and Khairpur Mir's on the pretext of maintaining law and order situation during the month of Muharram. A notification to this effect was issued here by the provincial home depa
Published 10 Nov, 2012 12:00am
No kinnow exports before December 1: MoC

No kinnow exports before December 1: MoC

The Ministry of Commerce (MoC) has banned export of kinnow before December 1, 2012 to ensure good quality export of the highly valued fruit while avoiding losses. The country had faced huge losses last year due to early start of exports as the consignment
Published 10 Nov, 2012 12:00am
No kinnow exports before December 1: MoC

No kinnow exports before December 1: MoC

The Ministry of Commerce (MoC) has banned export of kinnow before December 1, 2012 to ensure good quality export of the highly valued fruit while avoiding losses. The country had faced huge losses last year due to early start of exports as the consignment
Published 10 Nov, 2012 12:00am
No kinnow exports before December 1: MoC

No kinnow exports before December 1: MoC

The Ministry of Commerce (MoC) has banned export of kinnow before December 1, 2012 to ensure good quality export of the highly valued fruit while avoiding losses. The country had faced huge losses last year due to early start of exports as the consignment
Published 10 Nov, 2012 12:00am
Bangladesh seeks Pakistan apology

Bangladesh seeks Pakistan apology

Bangladesh's foreign minister on Friday asked his Pakistani counterpart Hina Rabbani to apologise for "war crimes committed by the army in 1971", a ministry official said. Dipu Moni made the request during a meeting in Dhaka with Hina Rabbani following pr
Published 10 Nov, 2012 12:00am
Bangladesh seeks Pakistan apology

Bangladesh seeks Pakistan apology

Bangladesh's foreign minister on Friday asked his Pakistani counterpart Hina Rabbani to apologise for "war crimes committed by the army in 1971", a ministry official said. Dipu Moni made the request during a meeting in Dhaka with Hina Rabbani following pr
Published 10 Nov, 2012 12:00am
Share of royalty enhanced: CCI okays National Mineral Policy

Share of royalty enhanced: CCI okays National Mineral Policy

The Council of Common Interests (CCI) has approved the National Mineral Policy of 2012, forwarded by the Petroleum Ministry in August this year. Sources said here on Friday that the CCI meeting held the other day had finally approved the Mineral Policy. S
Published 10 Nov, 2012 12:00am
Share of royalty enhanced: CCI okays National Mineral Policy

Share of royalty enhanced: CCI okays National Mineral Policy

The Council of Common Interests (CCI) has approved the National Mineral Policy of 2012, forwarded by the Petroleum Ministry in August this year. Sources said here on Friday that the CCI meeting held the other day had finally approved the Mineral Policy. S
Published 10 Nov, 2012 12:00am
Share of royalty enhanced: CCI okays National Mineral Policy

Share of royalty enhanced: CCI okays National Mineral Policy

The Council of Common Interests (CCI) has approved the National Mineral Policy of 2012, forwarded by the Petroleum Ministry in August this year. Sources said here on Friday that the CCI meeting held the other day had finally approved the Mineral Policy. S
Published 10 Nov, 2012 12:00am
Exchange of delegations to help improve ties: Bihar chief minister

Exchange of delegations to help improve ties: Bihar chief minister

Chief Minister Bihar, India, Nitish Kumar on Friday said that exchange of delegations can help improve India and Pakistan relations between the two neighbouring countries. He said this during a brief chat with the media at Jinnah International Airport, af
Published 10 Nov, 2012 12:00am
Exchange of delegations to help improve ties: Bihar chief minister

Exchange of delegations to help improve ties: Bihar chief minister

Chief Minister Bihar, India, Nitish Kumar on Friday said that exchange of delegations can help improve India and Pakistan relations between the two neighbouring countries. He said this during a brief chat with the media at Jinnah International Airport, af
Published 10 Nov, 2012 12:00am
CIA Director Petraeus resigns

CIA Director Petraeus resigns

CIA Director David Petraeus has submitted a letter of resignation to President Barack Obama, Director of National Intelligence James Clapper said on Friday. "Dave's decision to step down represents the loss of one of our nation's most respected public ser
Published 10 Nov, 2012 12:00am
CIA Director Petraeus resigns

CIA Director Petraeus resigns

CIA Director David Petraeus has submitted a letter of resignation to President Barack Obama, Director of National Intelligence James Clapper said on Friday. "Dave's decision to step down represents the loss of one of our nation's most respected public ser
Published 10 Nov, 2012 12:00am
Investors showing reluctance: power sector facing financing problems

Investors showing reluctance: power sector facing financing problems

Pakistan''s power sector is facing financing problems due to hesitation of investors and lenders towards the sector, owing to prevailing circular debt issue. Sources said that this was revealed by the officials during a briefing to a parliamentary panel r
Published 10 Nov, 2012 12:00am
Investors showing reluctance: power sector facing financing problems

Investors showing reluctance: power sector facing financing problems

Pakistan's power sector is facing financing problems due to hesitation of investors and lenders towards the sector, owing to prevailing circular debt issue. Sources said that this was revealed by the officials during a briefing to a parliamentary panel re
Published 10 Nov, 2012 12:00am
Investors showing reluctance: power sector facing financing problems

Investors showing reluctance: power sector facing financing problems

Pakistan's power sector is facing financing problems due to hesitation of investors and lenders towards the sector, owing to prevailing circular debt issue. Sources said that this was revealed by the officials during a briefing to a parliamentary panel re
Published 10 Nov, 2012 12:00am
Geithner won't leave until 2013: White House

Geithner won't leave until 2013: White House

Treasury Secretary Timothy Geithner plans to stay until early next year to help the Obama administration forge a deal with lawmakers to avert the looming fiscal crisis, the White House said on Friday. The Obama administration and Congress has less than tw
Published 10 Nov, 2012 12:00am
Geithner won't leave until 2013: White House

Geithner won't leave until 2013: White House

Treasury Secretary Timothy Geithner plans to stay until early next year to help the Obama administration forge a deal with lawmakers to avert the looming fiscal crisis, the White House said on Friday. The Obama administration and Congress has less than tw
Published 10 Nov, 2012 12:00am
Tax hike on rich should be part of fiscal deal: Obama

Tax hike on rich should be part of fiscal deal: Obama

Newly re-elected President Barack Obama offered on Friday to deal with Republicans to avert a looming US fiscal calamity but insisted a tax increase for the very rich must be part of the bargain. Obama reminded Republicans that his approach to avoiding st
Published 10 Nov, 2012 12:00am
Tax hike on rich should be part of fiscal deal: Obama

Tax hike on rich should be part of fiscal deal: Obama

Newly re-elected President Barack Obama offered on Friday to deal with Republicans to avert a looming US fiscal calamity but insisted a tax increase for the very rich must be part of the bargain. Obama reminded Republicans that his approach to avoiding st
Published 10 Nov, 2012 12:00am
Tax hike on rich should be part of fiscal deal: Obama

Tax hike on rich should be part of fiscal deal: Obama

Newly re-elected President Barack Obama offered on Friday to deal with Republicans to avert a looming US fiscal calamity but insisted a tax increase for the very rich must be part of the bargain. Obama reminded Republicans that his approach to avoiding st
Published 10 Nov, 2012 12:00am
Ahmedan Bugti survives shoe bomb attack

Ahmedan Bugti survives shoe bomb attack

Ahmedan Bugti, a lawmaker with the Pakistan Muslim League-Q party escaped an assassination attempt on Friday when a bomb planted in his shoe exploded as he put them on outside a mosque after prayers, officials said. The blast in Dera Bugti, about 500 kilo
Published 10 Nov, 2012 12:00am
Ahmedan Bugti survives shoe bomb attack

Ahmedan Bugti survives shoe bomb attack

Ahmedan Bugti, a lawmaker with the Pakistan Muslim League-Q party escaped an assassination attempt on Friday when a bomb planted in his shoe exploded as he put them on outside a mosque after prayers, officials said. The blast in Dera Bugti, about 500 kilo
Published 10 Nov, 2012 12:00am
Sabharwal announces special visas for APTMA members

Sabharwal announces special visas for APTMA members

APTMA is to lead trade facilitation process with India, Group Leader Gohar Ejaz said during the visit of Indian High Commissioner Sharat Sabharwal to All Pakistan Textile Mills'' Association (APTMA) on Friday. On his suggestion for multiple APTMA-specific
Published 10 Nov, 2012 12:00am
Sabharwal announces special visas for APTMA members

Sabharwal announces special visas for APTMA members

APTMA is to lead trade facilitation process with India, Group Leader Gohar Ejaz said during the visit of Indian High Commissioner Sharat Sabharwal to All Pakistan Textile Mills' Association (APTMA) on Friday. On his suggestion for multiple APTMA-specific
Published 10 Nov, 2012 12:00am
Sabharwal announces special visas for APTMA members

Sabharwal announces special visas for APTMA members

APTMA is to lead trade facilitation process with India, Group Leader Gohar Ejaz said during the visit of Indian High Commissioner Sharat Sabharwal to All Pakistan Textile Mills' Association (APTMA) on Friday. On his suggestion for multiple APTMA-specific
Published 10 Nov, 2012 12:00am
Nato supplies from Karachi Port stalled

Nato supplies from Karachi Port stalled

Nato supplies of military vehicles from Karachi Port are suspended for last 20 days for a number of reasons including unavailability of trucks, sources at Karachi Port Trust (KPT) told Business Recorder on Friday. "The exact reason for the halt in
Published 10 Nov, 2012 12:00am
Nato supplies from Karachi Port stalled

Nato supplies from Karachi Port stalled

Nato supplies of military vehicles from Karachi Port are suspended for last 20 days for a number of reasons including unavailability of trucks, sources at Karachi Port Trust (KPT) told Business Recorder on Friday. "The exact reason for the halt in
Published 10 Nov, 2012 12:00am
Raja says there's no clash among institutions

Raja says there's no clash among institutions

Prime Minister Raja Pervez Ashraf on Friday strongly dispelled the impression of any clash among the state institutions and said the challenges the country was facing could be addressed with unity and greater understanding. He was addressing at the inaugu
Published 10 Nov, 2012 12:00am
Raja says there's no clash among institutions

Raja says there's no clash among institutions

Prime Minister Raja Pervez Ashraf on Friday strongly dispelled the impression of any clash among the state institutions and said the challenges the country was facing could be addressed with unity and greater understanding. He was addressing at the inaugu
Published 10 Nov, 2012 12:00am
Rs six billion optic fibre project inaugurated

Rs six billion optic fibre project inaugurated

Prime Minister Raja Pervez Ashraf on Friday inaugurated Rs 6 billion optic fibre project which will provide best information technology facilities to all tehsils of Balochistan province. The Prime Minister, who arrived here on a two-day visit, spent a bus
Published 10 Nov, 2012 12:00am
Rs six billion optic fibre project inaugurated

Rs six billion optic fibre project inaugurated

Prime Minister Raja Pervez Ashraf on Friday inaugurated Rs 6 billion optic fibre project which will provide best information technology facilities to all tehsils of Balochistan province. The Prime Minister, who arrived here on a two-day visit, spent a bus
Published 10 Nov, 2012 12:00am
Rs six billion optic fibre project inaugurated

Rs six billion optic fibre project inaugurated

Prime Minister Raja Pervez Ashraf on Friday inaugurated Rs 6 billion optic fibre project which will provide best information technology facilities to all tehsils of Balochistan province. The Prime Minister, who arrived here on a two-day visit, spent a bus
Published 10 Nov, 2012 12:00am
France slides towards recession

France slides towards recession

France''s central bank said it expected the euro zone''s second-largest economy to slip into recession as 2012 ends - a scenario that could make it harder for the government to hit next year''s debt-reduction targets. The Bank of France, which had already
Published 10 Nov, 2012 12:00am
France slides towards recession

France slides towards recession

France's central bank said it expected the euro zone's second-largest economy to slip into recession as 2012 ends - a scenario that could make it harder for the government to hit next year's debt-reduction targets. The Bank of France, which had already pr
Published 10 Nov, 2012 12:00am
France slides towards recession

France slides towards recession

France's central bank said it expected the euro zone's second-largest economy to slip into recession as 2012 ends - a scenario that could make it harder for the government to hit next year's debt-reduction targets. The Bank of France, which had already pr
Published 10 Nov, 2012 12:00am
China, India economies set to dwarf G7 before long: OECD

China, India economies set to dwarf G7 before long: OECD

China''s economy is likely to overtake the euro zone''s this year, India is leapfrogging Japan and by 2030 the Asian pair will be bigger than the United States, euro area and Japan combined, the OECD said on Friday. In a crystal-ball exercise to tease out
Published 10 Nov, 2012 12:00am
China, India economies set to dwarf G7 before long: OECD

China, India economies set to dwarf G7 before long: OECD

China's economy is likely to overtake the euro zone's this year, India is leapfrogging Japan and by 2030 the Asian pair will be bigger than the United States, euro area and Japan combined, the OECD said on Friday. In a crystal-ball exercise to tease out l
Published 10 Nov, 2012 12:00am
China, India economies set to dwarf G7 before long: OECD

China, India economies set to dwarf G7 before long: OECD

China's economy is likely to overtake the euro zone's this year, India is leapfrogging Japan and by 2030 the Asian pair will be bigger than the United States, euro area and Japan combined, the OECD said on Friday. In a crystal-ball exercise to tease out l
Published 10 Nov, 2012 12:00am
Bilours won't get US visas

Bilours won't get US visas

After the UK, the United States also banned Ghulam Ahmed Bilour, Federal Minister for Railways, from entering the US for announcing $100,000 bounty on the head of a controversial American film-maker.
Published 10 Nov, 2012 12:00am
Bilours won't get US visas

Bilours won't get US visas

After the UK, the United States also banned Ghulam Ahmed Bilour, Federal Minister for Railways, from entering the US for announcing $100,000 bounty on the head of a controversial American film-maker.
Published 10 Nov, 2012 12:00am
World observes Malala Day today

World observes Malala Day today

'Malala Day' is being observed throughout the world on Saturday (today) on the call of the United Nations (UN). UN Secretary-General Ban Ki-moon has announced that November 10 will be observed as 'Malala Day' the world over, honouring her struggle for the
Published 10 Nov, 2012 12:00am
World observes Malala Day today

World observes Malala Day today

'Malala Day' is being observed throughout the world on Saturday (today) on the call of the United Nations (UN). UN Secretary-General Ban Ki-moon has announced that November 10 will be observed as 'Malala Day' the world over, honouring her struggle for the
Published 10 Nov, 2012 12:00am
UK campaigners call for Nobel Prize for Malala

UK campaigners call for Nobel Prize for Malala

Tens of thousands of Britons called on the government on Friday to nominate Malala Yousufzai, for the Nobel Peace Prize. The 15-year-old is receiving specialist treatment in the English city of Birmingham after gunmen shot her on October 9 for standing up
Published 10 Nov, 2012 12:00am
UK campaigners call for Nobel Prize for Malala

UK campaigners call for Nobel Prize for Malala

Tens of thousands of Britons called on the government on Friday to nominate Malala Yousufzai, for the Nobel Peace Prize. The 15-year-old is receiving specialist treatment in the English city of Birmingham after gunmen shot her on October 9 for standing up
Published 10 Nov, 2012 12:00am
The Weather

The Weather

The weather report on Friday (November 09, 2012) and the forecast for Saturday (November 10, 2012).

Published 10 Nov, 2012 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 10 Nov, 2012 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 10 Nov, 2012 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Friday (November 09, 2012).

Published 10 Nov, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (November 09, 2012).

Published 10 Nov, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (November 09, 2012).

Published 10 Nov, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (November 09, 2012).

Published 10 Nov, 2012 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on November 06, 2012.

Published 10 Nov, 2012 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on November 06, 2012.

Published 10 Nov, 2012 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on November 06, 2012.

Published 10 Nov, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 10 Nov, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 10 Nov, 2012 12:00am
BRIDGE NOTES: Bridge is a magnanimous game

BRIDGE NOTES: Bridge is a magnanimous game

In Bridge, declarer play is always the focus of everyone interested in the outcome of a particular deal, which could make a big difference in the final outcome, particularly if the battle is between two teams in the international field representing differ
Published 10 Nov, 2012 12:00am
ART FACTS: Finding deeper meaning and expression

ART FACTS: Finding deeper meaning and expression

Mughal horse riders, bare dry trees and thorns, a bull's skull, battling elephants and some green bushes are arranged in a peculiar manner between squares, triangles and circles uncovers various social issues scatter around us from lawlessness and unrest
Published 10 Nov, 2012 12:00am
KARACHI CHRONICLE: I'm in love with my car

KARACHI CHRONICLE: I'm in love with my car

The car is now five-year-old, the lease payment is completed and now, as we say in Karachi trade jargon, I am the whole-sole owner. Its story is relevant in the case of a majority of cars in the city, and their owners, especially women. I count my blessin
Published 10 Nov, 2012 12:00am
US Midwest corn bids drop

US Midwest corn bids drop

Corn spot basis bids dropped 10 cents per bushel in southern Ohio on Friday as the harvest advanced and the grain piled up at some processors, elevators and ethanol plants, dealers said. Corn bids were firm at a terminal along the Illinois River and large
Published 10 Nov, 2012 12:00am
US soybeans, wheat sell-off after USDA report

US soybeans, wheat sell-off after USDA report

US soybean futures dropped 1.6 percent to their lowest level in more than four months on Friday after the US government's latest forecast of this year's crop topped expectations, traders said. Wheat also fell sharply, breaking a streak of four positive se
Published 10 Nov, 2012 12:00am
Rain may curb wheat area in France, Britain

Rain may curb wheat area in France, Britain

Recent heavy rains could prevent some wheat from being sown in France and Britain after some rapeseed area was lost in the two major European crop producers, adding further uncertainty to the global supply outlook, analysts said. Germany, however, has see
Published 10 Nov, 2012 12:00am
JC Penney sales plunge as shoppers spurn price strategy

JC Penney sales plunge as shoppers spurn price strategy

J.C. Penney Co Inc on Friday reported a sharper-than-expected decline in quarterly sales at stores open at least a year, with results getting progressively worse under CEO Ron Johnson's attempt to radically transform the department store chain.
Published 10 Nov, 2012 12:00am
South Korean central bank holds rates

South Korean central bank holds rates

South Korea's central bank held fire on Friday, keeping its cash rate steady after last month's policy easing, but its cautious remarks on the global economy had many analysts predicting another rate cut within months. The Bank of Korea left the base rate
Published 10 Nov, 2012 12:00am
Morgan Stanley selling its Indian private bank

Morgan Stanley selling its Indian private bank

Morgan Stanley has launched the sale of its India private wealth management unit, which manages about $1 billion including loans, after entering the highly fragmented and competitive market just four years ago, sources with knowledge of the matter said. W
Published 10 Nov, 2012 12:00am
Congo to negotiate mining code changes, official says

Congo to negotiate mining code changes, official says

Democratic Republic of Congo's plans to sharply raise the state stake in mining projects is a proposal that will be negotiated with mining companies and also consulted with the World Bank and the IMF, a senior mines ministry official said on Wednesday.
Published 10 Nov, 2012 12:00am
No final decision on Greece next week, slower austerity assumed

No final decision on Greece next week, slower austerity assumed

Eurozone finance ministers are unlikely to release a new tranche of loans to Greece on Monday as there is no agreement yet on how to make its debt sustainable but Athens is set to get two more years to cut debt, officials said. Euro zone finance ministers
Published 10 Nov, 2012 12:00am
Sony hit with second Moody's downgrade in a month

Sony hit with second Moody's downgrade in a month

Moody's downgraded Sony's credit rating for the second time in a month on Friday, the latest blow to Japan's electronics sector where embattled Sharp has seen its own credit rating slashed to junk. The global ratings agency chopped Sony by one notch to Ba
Published 10 Nov, 2012 12:00am
Credit Agricole posts $3.63 billion loss after Greek exit

Credit Agricole posts $3.63 billion loss after Greek exit

Credit Agricole reported a steeper-than-expected 2.85 billion-euro ($3.63 billion) quarterly loss on Friday as the French bank was slammed by its exit from Greece and a series of other write-downs. Stripping out one-off factors - which also included the s
Published 10 Nov, 2012 12:00am
US not ready for Basel III bank rules: Treasury

US not ready for Basel III bank rules: Treasury

The US Treasury announced Friday that it would not implement the Basel III rules for strengthening banks on January 1, saying the banks were not yet ready to meet the tougher capital standards. "Many industry participants have expressed concern that they
Published 10 Nov, 2012 12:00am
China data shows economic recovery gaining pace

China data shows economic recovery gaining pace

China's economy strode further along the road of recovery from its slowest growth in three years, data for October showed on Friday, as infrastructure investment accelerated and output from the country's factories ran at its fastest in five months.
Published 10 Nov, 2012 12:00am
Spanish airline Iberia axing 4,500 jobs

Spanish airline Iberia axing 4,500 jobs

Loss-making Iberia on Friday announced plans to axe 4,500 jobs to save Spain's biggest airline from collapse and warned more cuts could follow against the backdrop of economic crisis in the eurozone country. "Iberia is in (a) fight for survival," Iberia's
Published 10 Nov, 2012 12:00am
Oil demand may underperform: Opec

Oil demand may underperform: Opec

World oil demand growth could fall short of forecasts next year, exporter group Opec said on Friday, citing Europe's troubled economy and the risk of weakness in faster-growing regions such as China and India. The Organisation of the Petroleum Exporting C
Published 10 Nov, 2012 12:00am
EU budget talks in a tangle from the start

EU budget talks in a tangle from the start

Two weeks of tough talks on the European Union budget got off to a sorry start Friday with austerity-minded states refusing to plug a 9.7-billion-euros hole for this year in money used for the needy. Friday's talks were aimed at settling the 2013 budget b
Published 10 Nov, 2012 12:00am
Britain says will receive £35 billion from interest on QE assets

Britain says will receive £35 billion from interest on QE assets

The British government said Friday that it will receive about £35 billion in interest earned on state debt that was purchased under the Bank of England's quantitative easing (QE) stimulus policy. Chancellor George Osborne and BoE governor Mervyn King have
Published 10 Nov, 2012 12:00am
Britain says will receive £35 billion from interest on QE assets

Britain says will receive £35 billion from interest on QE assets

The British government said Friday that it will receive about £35 billion in interest earned on state debt that was purchased under the Bank of England's quantitative easing (QE) stimulus policy. Chancellor George Osborne and BoE governor Mervyn King have
Published 10 Nov, 2012 12:00am
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