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Print - 2012-12-15
Bank of America sues MBIA

Bank of America sues MBIA

Bank of America Corp has sued bond insurer MBIA Inc in a New York state court for allegedly interfering with a tender offer to buy MBIA's bonds. At issue is a change MBIA sought to make to the terms of some bonds to eliminate the risk that it might be con
Published 15 Dec, 2012 12:00am
Italy's debt tops two trillion euros

Italy's debt tops two trillion euros

Italy's public debt rose above 2 trillion euros for the first time in October, underscoring the fragility of public finances despite austerity policies imposed by technocrat Prime Minister Mario Monti. Debt rose to 2.015 trillion euros ($2.64 trillion) fr
Published 15 Dec, 2012 12:00am
Chinese banks sold $11.8 billion FX in November

Chinese banks sold $11.8 billion FX in November

China became a net seller of foreign exchange in November after its trade surplus and foreign investment inflows shrank, highlighting stiff external headwinds still facing the world's second-largest economy. China's central bank and commercial banks sold
Published 15 Dec, 2012 12:00am
Chinese banks sold $11.8 billion FX in November

Chinese banks sold $11.8 billion FX in November

China became a net seller of foreign exchange in November after its trade surplus and foreign investment inflows shrank, highlighting stiff external headwinds still facing the world's second-largest economy. China's central bank and commercial banks sold
Published 15 Dec, 2012 12:00am
US factories flex muscle post storm, inflation subdued

US factories flex muscle post storm, inflation subdued

US factory output posted its sharpest increase in nearly a year in November as auto production staged a rebound, while consumer prices slipped, offering cautious optimism for the struggling economic recovery. A separate report on Friday bolstered the view
Published 15 Dec, 2012 12:00am
Chinese shares power to best day in three years

Chinese shares power to best day in three years

Onshore China shares had their biggest rises in more than three years on Friday fuelled by speculation of state-backed buying in onshore markets, as indexes closed above key chart resistance levels, indicating further gains ahead. Hong Kong markets were l
Published 15 Dec, 2012 12:00am
Southeast Asian markets: profit-taking derails rally

Southeast Asian markets: profit-taking derails rally

Stocks in the Philippines, Indonesia and Malaysia fell in light volume on Friday as market players sold rallying stocks such as Axiata Group Bhd and Ayala Corp but optimism over China's data lent support elsewhere in the region. The Philippine index, Sout
Published 15 Dec, 2012 12:00am
Seoul shares falter, snapping a week-long rally

Seoul shares falter, snapping a week-long rally

South Korean shares edged lower on Friday, with upbeat data from China helping to narrow early losses, but still finished the week higher to notch up a fourth consecutive weekly gain. The Korea Composite Stock Price Index (KOSPI) closed down 0.4 percent a
Published 15 Dec, 2012 12:00am
Friday's midday trade: stocks drop as Apple falls, 'cliff' looms

Friday's midday trade: stocks drop as Apple falls, 'cliff' looms

US stocks fell on Friday, with the Nasdaq weighed down by another drop in shares of Apple, and as the overhang of "fiscal cliff" negotiations kept buying to a premium. Apple slid 4 percent to $508.75 after UBS cut its price target on the stock to $700 fro
Published 15 Dec, 2012 12:00am
S&P ends six days of gains on 'cliff' worries

S&P ends six days of gains on 'cliff' worries

The S&P 500 ended its six-day winning streak on Thursday, retreating as worries intensified that Washington's "fiscal cliff" negotiations were dragging on with little progress. Anxiety about the drawn-out talks between Democrats and Republicans was enough
Published 15 Dec, 2012 12:00am
Treasuries slip as 30-year auction mediocre

Treasuries slip as 30-year auction mediocre

US debt prices slid on Thursday after an auction of 30-year bonds saw cautious bidding in the wake of US Federal Reserve monetary policy easing the previous day, with better-than-expected jobs data also eroding Treasuries' safe haven appeal. The Treasury
Published 15 Dec, 2012 12:00am
Treasuries slip as 30-year auction mediocre

Treasuries slip as 30-year auction mediocre

US debt prices slid on Thursday after an auction of 30-year bonds saw cautious bidding in the wake of US Federal Reserve monetary policy easing the previous day, with better-than-expected jobs data also eroding Treasuries' safe haven appeal. The Treasury
Published 15 Dec, 2012 12:00am
Australian shares flat

Australian shares flat

Australian shares ended flat, giving up most of the day's gains despite encouraging manufacturing data from China, as investors remained cautious amid stalled US talks to avert steep tax increases and spending cuts. Miners were only slightly shored up by
Published 15 Dec, 2012 12:00am
Nikkei average dips

Nikkei average dips

Japan's Nikkei average inched down on Friday as investors were cautious ahead of this Sunday's general election, with strong expectations that the main opposition party, which favours aggressive easing, is set for victory. The Nikkei ended 0.1 percent low
Published 15 Dec, 2012 12:00am
European shares slip as investors cash in on recent gains

European shares slip as investors cash in on recent gains

European shares slipped on Friday as investors banked profits after a recent strong run, and some said it was vulnerable to a deeper correction the longer US budget talks remain at an impasse. The FTSEurofirst 300 closed down 0.1 percent at 1,133.36, havi
Published 15 Dec, 2012 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks fell 0.75 percent on Friday, retreating from a nearly three-month closing high, as tech and financial heavyweights joined other regional bourses in a pullback. The main TAIEX index finished 58.32 points lower at 7,698.77, weighed down by ele
Published 15 Dec, 2012 12:00am
Indian shares snap five-day losing streak

Indian shares snap five-day losing streak

Indian shares rose on Friday for the first session in six as lenders such as ICICI Bank Ltd gained after lower-than-expected inflation data reinforced hopes the central bank would start cutting interest rates in January. India's wholesale inflation cooled
Published 15 Dec, 2012 12:00am
FTSE 100 index falls as weak oils counter firm miners

FTSE 100 index falls as weak oils counter firm miners

Britain's top shares eased modestly on Friday as weakness in the energy sector, following cautious broker comment, countered gains by the miners after strong manufacturing data from China. Such a balancing act mirrored investors desire to remain neutrally
Published 15 Dec, 2012 12:00am
Pound slips versus euro

Pound slips versus euro

Sterling fell to its lowest in more than a week against the euro on Friday after Standard & Poor's lowered its outlook on UK government debt to negative, putting the UK's prized triple-A rating at risk. The euro rose 0.2 percent to 81.395 pence, its highe
Published 15 Dec, 2012 12:00am
Yen slips in Asia

Yen slips in Asia

The yen slipped to nine-month lows on Friday as Japan looks set to get a prime minister keen to push for more money printing by the central bank to stimulate the moribund economy. Japanese media reported that conservative Liberal Democratic Party (LDP) is
Published 15 Dec, 2012 12:00am
Yen weakens broadly

Yen weakens broadly

The yen fell against the dollar and euro on Friday and looked vulnerable to further selling on expectations that the Bank of Japan will ease monetary policy aggressively in coming months. The euro was steady versus the dollar after euro zone flash PMI num
Published 15 Dec, 2012 12:00am
Early trade in New York: Dollar falls versus yen, euro

Early trade in New York: Dollar falls versus yen, euro

The dollar fell from a near nine-month high against the yen and dropped for the fifth straight day against the euro on Friday after a US report on inflation showed prices fell in November for the first time in six months, which should allow the Federal Re
Published 15 Dec, 2012 12:00am
Dollar steadies in New York

Dollar steadies in New York

The dollar held steady against the euro on Thursday after falling for three straight days as investors refrained from actively selling the US currency due to uncertainty surrounding a looming fiscal crisis. The so-called "fiscal cliff" outweighed dollar-b
Published 15 Dec, 2012 12:00am
Swiss franc rises

Swiss franc rises

The Swiss franc pushed higher against the dollar on Friday adding to four straight sessions of gains and hitting its highest since early May after the US Federal Reserve said it would extend its bond buying programme. The franc rose 0.2 percent against th
Published 15 Dec, 2012 12:00am
Yuan weakens

Yuan weakens

China's yuan weakened on Friday with bullish market sentiment curbed by what traders suspected was central bank intervention containing the currency's rise. The yuan closed at 6.2415 per dollar, down 0.1 percent from Thursday's close. The central bank set
Published 15 Dec, 2012 12:00am
US fiscal crisis worries weigh on Asian forex

US fiscal crisis worries weigh on Asian forex

The South Korean won retreated from a 15-month high and most Asian currencies were steady to lower on Friday, hurt by concerns about the lack of progress in talks aimed at heading off a looming US fiscal crisis. The won dipped 0.1 percent to 1073.7 to the
Published 15 Dec, 2012 12:00am
Australian and New Zealand dollars hold gains

Australian and New Zealand dollars hold gains

The Australian and New Zealand dollars extended their already massive gains versus an embattled yen on Friday on growing expectations the Bank of Japan will step up its money-printing, putting the currencies on track to end the week sharply higher.
Published 15 Dec, 2012 12:00am
Indian rupee plunges

Indian rupee plunges

The Indian rupee fell to its lowest in over a week on Friday after heavy dollar buying by a large state-run bank wiped out all gains even as a below expected inflation reading raised hopes that the central bank could start cutting interest rates as early
Published 15 Dec, 2012 12:00am
Spot fixing threatens integrity of modern game

Spot fixing threatens integrity of modern game

Any comfortable assumptions that world cricket has largely eradicated corruption after the shock of the Hansie Cronje match-fixing scandal are challenged in a disturbing new book investigating India's illegal bookmaking underworld. In "Bookie Gambler Fixe
Published 15 Dec, 2012 12:00am
Half-centuries put Australia on top of Sri Lanka

Half-centuries put Australia on top of Sri Lanka

Australia took the upper hand against Sri Lanka following half-centuries by Phil Hughes, David Warner and Michael Clarke on the opening day of first Hobart Test on Friday. The Australians always had the measure of the unthreatening Sri Lankan bowling atta
Published 15 Dec, 2012 12:00am
FIFA can't verify claims over Messi record

FIFA can't verify claims over Messi record

World football's governing body on Friday said that they were unable to check whether claims that an African footballer and not Argentina star Lionel Messi was the record holder for the most goals scored in a calendar year. "Thanks for the questions about
Published 15 Dec, 2012 12:00am
Loss of Taylor will not affect team: McCullum

Loss of Taylor will not affect team: McCullum

New Zealand will not be distracted by the axing of former captain Ross Taylor ahead of their cricket tour of South Africa, new skipper Brendon McCullum said on Friday. "We can't control what has unfolded back home and, as players, our focus is very much o
Published 15 Dec, 2012 12:00am
City better than United: Mancini

City better than United: Mancini

Manchester City manager Roberto Mancini insists his team have shown they are better than United and have plenty of time to make up the six-point deficit to their city rivals. City suffered a first defeat of the season when they lost a fractious Manchester
Published 15 Dec, 2012 12:00am
Europe trounce Asia in Brunei Golf Trophy

Europe trounce Asia in Brunei Golf Trophy

South Korean duo Y. E. Yang and Kim Kyung-Tae produced a gutsy late fightback to prevent a European whitewash on the opening day of the Royal Trophy in Brunei. Two-down after 13 holes, the pair finished strongly to salvage a half point against Spaniards M
Published 15 Dec, 2012 12:00am
Hockey squad for Asian Championship announced

Hockey squad for Asian Championship announced

Pakistan hockey team will participate in the second Asian Champions Trophy Hockey Tournament to be played in Doha, Qatar from December 20-27, 2012. Manager, Akhtar Rasool Chaudhary, with the approval of President Pakistan Hockey Federation, Qasim Zia has
Published 15 Dec, 2012 12:00am
UN agency sees deal soon to check Iran nuclear work

UN agency sees deal soon to check Iran nuclear work

The United Nations nuclear agency expects to reach a deal with Iran next month enabling it to investigate whether the Islamic state has carried out atomic bomb research, the chief UN inspector said after returning from Tehran on Friday. Even though the In
Published 15 Dec, 2012 12:00am
Odds rise for 'fiscal cliff' fight entering 2013

Odds rise for 'fiscal cliff' fight entering 2013

The "fiscal cliff" impasse is raising the odds that Congress will fail to meet a year-end deadline to avert steep tax hikes and budget cuts that could push the nation into another recession. With talks between President Barack Obama and House of Represent
Published 15 Dec, 2012 12:00am
Iran asylum-seeker numbers on rise: HRW

Iran asylum-seeker numbers on rise: HRW

The number of Iranians seeking asylum abroad has grown steadily since the crushing of protests over the disputed re-election of President Mahmoud Ahmadinejad in 2009, Human Rights Watch said in a report released on Friday. Iranian asylum-seeker numbers ro
Published 15 Dec, 2012 12:00am
Rival factions clash as Egypt referendum looms

Rival factions clash as Egypt referendum looms

Stone-throwing supporters and opponents of Islamist President Mohamed Morsi clashed in the Egyptian city of Alexandria on Friday ahead of a referendum on a new constitution that has divided the Arab world's most populous nation. Dozens of activists fought
Published 15 Dec, 2012 12:00am
Israel Foreign Minister Lieberman resigns

Israel Foreign Minister Lieberman resigns

Israeli Foreign Minister Avigdor Lieberman, a key ally of the premier, resigned on Friday after having been charged with breach of trust, barely five weeks ahead of general elections. "I am not legally bound to submit my resignation but I have decided to
Published 15 Dec, 2012 12:00am
Tetra Pak scion's wife died from cocaine abuse

Tetra Pak scion's wife died from cocaine abuse

One of Britain's richest women, whose corpse was found rotting under a pile of bedding, died as a result of drug abuse, a coroner ruled at an inquest Friday. Eva Rausing, 48, was married to Hans Kristian Rausing, heir to the billions his Swedish father ma
Published 15 Dec, 2012 12:00am
Italy calls in India ambassador over detained sailors

Italy calls in India ambassador over detained sailors

Italy has summoned the Indian ambassador to urge India's Supreme Court to reach a decision before the year-end Christmas holiday over where two Italian marines accused of killing two fishermen should be tried. The sailors, members of a military security t
Published 15 Dec, 2012 12:00am
Major climate change report draft leaked online: IPCC

Major climate change report draft leaked online: IPCC

A major report on climate change being compiled by the United Nation's climate science panel was on Friday leaked online in what appeared to be an attempt by a climate sceptic to discredit the panel. The Intergovernmental Panel on Climate Change (IPCC) sa
Published 15 Dec, 2012 12:00am
Three die as Cyclone Evan devastates Samoa

Three die as Cyclone Evan devastates Samoa

The worst of the cyclone that battered the Pacific island state of Samoa overnight, killing at least three people, appeared to be over and it was not expected to hit the devastated capital, Apia, again, New Zealand Foreign Minister Murray McCully said Fri
Published 15 Dec, 2012 12:00am
Man stabs 22 children in China

Man stabs 22 children in China

A man stabbed 22 primary school students in a knife attack in China on Friday, officials said, the latest in a series of assaults. The attacker "has been detained", said a spokesman for the Guangshan county government in the central province of Henan, whe
Published 15 Dec, 2012 12:00am
Russia developing new long-range ballistic missile

Russia developing new long-range ballistic missile

Russia is developing a new intercontinental ballistic missile, the military announced Friday, in an apparent attempt to remind the United States of Moscow's rocket capacities. Revealing the existence of the project for the first time, rocket forces comman
Published 15 Dec, 2012 12:00am
World Bank chief economist hails India reforms

World Bank chief economist hails India reforms

World Bank chief economist Kaushik Basu on Friday urged India to keep up its blitz of "promising" reforms, saying they can help the economy return to the nine percent growth needed to combat poverty. The World Bank expects growth of Asia's third-largest e
Published 15 Dec, 2012 12:00am
Susan Rice folds US secretary of state bid

Susan Rice folds US secretary of state bid

Susan Rice has asked President Barack Obama not to pick her as his next secretary of state, after becoming a lightning rod for Republicans over the raid on the US consulate in Benghazi, Libya. Rice, currently US envoy to the United Nations, is a long-time
Published 15 Dec, 2012 12:00am
Defiant North Korea holds mass rally, vows more launches

Defiant North Korea holds mass rally, vows more launches

Hundreds of thousands of North Koreans rallied Friday in the freezing cold to celebrate the country's rocket launch, staging a choreographed show of defiance under their youthful leader's "endless" wisdom. The enormous rally in central Pyongyang, shown on
Published 15 Dec, 2012 12:00am
Ukraine government No 2 quits over reappointment of Prime Minister

Ukraine government No 2 quits over reappointment of Prime Minister

Ukraine's acting First Deputy Prime Minister Valery Khoroshkovsky resigned from the interim government on Friday in protest at Prime Minister Mykola Azarov's reappointment for a second term, his office said. In a move that could indicate a rift among Pres
Published 15 Dec, 2012 12:00am
Obama signs Russia rights law

Obama signs Russia rights law

US President Barack Obama Friday signed legislation granting normal trade relations to Russia, which infuriated Moscow by including sanctions targeting alleged Russian human rights abusers. Obama signed the bill into law a day after Russian President Vlad
Published 15 Dec, 2012 12:00am
Russia backs Syria as US, Germany send Patriots

Russia backs Syria as US, Germany send Patriots

Russia insisted on Friday its stand on the conflict in key ally Syria was unchanged, while Washington and Berlin prepared to deploy Patriot missiles and troops near Turkey's border with the country. A foreign ministry spokesman in Moscow said Russia's con
Published 15 Dec, 2012 12:00am
Murdoch's British tabloids settle with 22 hacking victims

Murdoch's British tabloids settle with 22 hacking victims

Rupert Murdoch's British tabloid publisher News Group Newspapers (NGN) has agreed to pay damages to 22 more victims of phone-hacking, London's High Court heard on Friday. The 22 claimants include television and radio presenter Jamie Theakston; Lisa Brash,
Published 15 Dec, 2012 12:00am
Mother of Nigerian finance minister freed from kidnappers

Mother of Nigerian finance minister freed from kidnappers

The mother of Nigeria's finance minister was on Friday freed from kidnappers after being abducted from her home in the country's south last weekend in a crime that shocked the country, police said. Details of the release were unclear and there was no indi
Published 15 Dec, 2012 12:00am
US imposes sanctions on Iran's nuclear energy chief

US imposes sanctions on Iran's nuclear energy chief

The United States stepped up pressure on Iran on Thursday over its nuclear programme, imposing sanctions on seven companies and five individuals, including Iran's atomic energy chief. The US Treasury Department said the action would bar those companies an
Published 15 Dec, 2012 12:00am
Senior Deutsche Bank lawyer detained after raid

Senior Deutsche Bank lawyer detained after raid

A senior in-house lawyer at Deutsche Bank is among those being held by police following a raid at the bank's headquarters on Thursday, two sources familiar with the proceedings told Reuters. The lawyer, who cannot be named for legal reasons, was not avail
Published 15 Dec, 2012 12:00am
WTO sees more trade disputes ahead after vintage year

WTO sees more trade disputes ahead after vintage year

A surge in trade disputes has forced the World Trade Organization to reallocate staff to cope with a flood of litigation in the pipeline for 2013, according to diplomats and documents at the global trade body in Geneva. The WTO's 157 members have launched
Published 15 Dec, 2012 12:00am
US drops China's Taobao website from 'notorious' list

US drops China's Taobao website from 'notorious' list

The United States on Thursday dropped a website owned by China's largest e-commerce company, Alibaba Group, from its annual list of the world's most "notorious markets" for sales of pirated and counterfeit goods.
Published 15 Dec, 2012 12:00am
New York cotton prices slump

New York cotton prices slump

Cotton prices closed lower on Thursday as technical buying ran out of steam after US data revealed weekly export sales dropped by a third and as grains remained under pressure. The US government data raised fears among some investors that recent stronger
Published 15 Dec, 2012 12:00am
Shanghai copper rises

Shanghai copper rises

The most-traded March copper contract on the Shanghai Futures Exchange closed 0.4 percent higher at 57,840 yuan ($9,300) a tonne on Friday, its third consecutive weekly gain after data showed China's manufacturers built on a recovery this month, driving a
Published 15 Dec, 2012 12:00am
Copper steadies

Copper steadies

Copper was steady on Friday, with a brightening economic outlook for big metal consumer China offsetting concerns about the euro zone's deteriorating economy and a potential fiscal crisis in the United States. Growth in China's manufacturing sector picked
Published 15 Dec, 2012 12:00am
Oil rises on China data as January Brent nears expiry

Oil rises on China data as January Brent nears expiry

Oil prices rose on Friday on expectations for improved demand in China after data showed the manufacturing sector of the world's No. 2 oil consumer expanded in December at its fastest pace in more than a year. With Brent's January crude contract expiring
Published 15 Dec, 2012 12:00am
Tokyo rubber rises

Tokyo rubber rises

Key TOCOM rubber futures rose to an almost seven-month high on Friday after data showing a pick-up in China's manufacturing sector fuelled a rally in a technically driven market. China's HSBC flash purchasing managers' index for December hit a 14-month hi
Published 15 Dec, 2012 12:00am
Wheat and corn extend decline

Wheat and corn extend decline

Wheat futures extended a five-session decline and set a fresh five-month low on Thursday while corn futures fell for a sixth day as technical selling and sluggish export demand weighed on both markets. Nearby soyabean futures were higher on strong export
Published 15 Dec, 2012 12:00am
Palm oil rebounds

Palm oil rebounds

Malaysian palm oil futures rebound on Friday from the previous day's three-year low but prices still posted their fourth consecutive weekly loss as worries persisted over record high stocks. For the week, palm oil lost almost 1 percent after slumping to t
Published 15 Dec, 2012 12:00am
Coffee hits 2-1/2 years low

Coffee hits 2-1/2 years low

Arabica coffee futures on ICE slipped to a 2-1/2-year low for the third straight session on Friday, while raw sugar recovered a bit after falling the previous session to the lowest level since August 2010, as both markets faced surplus supplies. Cocoa fut
Published 15 Dec, 2012 12:00am
Gold soars in Asia

Gold soars in Asia

Gold struggled to rise above $1,700 an ounce on Friday and prices headed for their third consecutive weekly drop, as investors cautiously watched US talks to avoid a looming fiscal calamity that have so far made little progress. Spot gold inched up 0.1 pe
Published 15 Dec, 2012 12:00am
Gold falls in New York

Gold falls in New York

Gold fell 1 percent on Thursday as fears the Federal Reserve might withdraw its economic stimulus if the job market improved dramatically prompted funds to reduce their bullish bets. The metal fell below $1,700 on Thursday for the first time this week on
Published 15 Dec, 2012 12:00am
Gold steadies in Europe

Gold steadies in Europe

Gold held steady below $1,700 an ounce on Friday, with prices heading for a third straight weekly fall amid uncertainty over stalled US budget negotiations to avert a fiscal crisis. US President Barack Obama and House of Representatives Speaker John Boehn
Published 15 Dec, 2012 12:00am
US MIDDAY: soya remains up

US MIDDAY: soya remains up

US soyabean futures rose for a third straight session Thursday and neared psychological resistance at $15 per bushel, lifted by strong demand from domestic processors. Wheat and corn firmed on bargain buying after falling for five and six straight session
Published 15 Dec, 2012 12:00am
US MIDDAY: gold stays below $1,700

US MIDDAY: gold stays below $1,700

Gold held steady below $1,700 an ounce on Friday, with prices heading for a third straight weekly fall amid uncertainty over stalled US budget negotiations to avert a fiscal crisis. Investors were wary of taking positions while negotiations were ongoing,
Published 15 Dec, 2012 12:00am
International seminar held on Bhambhore site

International seminar held on Bhambhore site

A technical seminar by International Experts and Archaeologists from France, Italy and Pakistan was held at Bhambhore (District Thatto) on Friday, under the aegis of the two departments of Government of Sindh viz. Culture and Antiquities. The "Technical S
Published 15 Dec, 2012 12:00am
Withdrawal of zero sales tax facility may widen trade gap: tanners

Withdrawal of zero sales tax facility may widen trade gap: tanners

Opposing the FBR plan to withdraw Sales Tax Zero-Rating from certain export items on the excuse of generating more revenue Pakistan Tanners Association (PTA) on Friday said that thoughtless decision would adversely affect exports at a time when huge amoun
Published 15 Dec, 2012 12:00am
Withdrawal of zero sales tax facility may widen trade gap: tanners

Withdrawal of zero sales tax facility may widen trade gap: tanners

Opposing the FBR plan to withdraw Sales Tax Zero-Rating from certain export items on the excuse of generating more revenue Pakistan Tanners Association (PTA) on Friday said that thoughtless decision would adversely affect exports at a time when huge amoun
Published 15 Dec, 2012 12:00am
Prime Minister appreciates PAC's performance

Prime Minister appreciates PAC's performance

Chaudhry Nadeem Afzal Chan, Chairman Public Accounts Committee (PAC) called on Prime Minister Raja Pervez Ashraf here on Friday and apprised him about the performance of Public Accounts Committee since his assumption of chairmanship of the body. In a meet
Published 15 Dec, 2012 12:00am
CII team holds meeting with FPCCI members

CII team holds meeting with FPCCI members

The members of the visiting delegation of Confederation of Indian Industry (CII) held a meeting with Pakistani business community here at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday. Speaking on the occasion, Kiran Vohra
Published 15 Dec, 2012 12:00am
Pakistan likely to begin importing Indian tractors

Pakistan likely to begin importing Indian tractors

Pakistan may start importing tractors from India after normalisation of trade with the neighbouring country, an official of a leading Indian engineering conglomerate said on Friday. According to him, a local tractor firm, which already has trade links wit
Published 15 Dec, 2012 12:00am
Eye-surgery camp

Eye-surgery camp

The Prevention of Blindness Trust (PBT) is holding a free eye surgery camp under the aegis of Pakistan Islamic Medical Association (Pima) here on December 15. Highly qualified doctors and medical staff will perform eye operations free of cost at the follo
Published 15 Dec, 2012 12:00am
'Government legalised 62 shops near Sindh Madrassatul Islam'

'Government legalised 62 shops near Sindh Madrassatul Islam'

The government has legalised 62 shops near Sindh Madrassatul Islam, Head of Sindh Madressatul Islam Board shop's committee, Yahya Polani said here on Friday. He reiterated that shops were allotted by the government according to legal maps and described th
Published 15 Dec, 2012 12:00am
PSORAL's three-day national conference begins

PSORAL's three-day national conference begins

The inauguration ceremony of the three-day 24th National Conference of Pakistan Society of Otolaryngology-Head & Neck Surgery (PSORL) was held at a local hotel here on Friday. Many Otolaryngologists and Head & Neck Surgeons from all over Pakistan and othe
Published 15 Dec, 2012 12:00am
Industrialist welcomes policy rate cut

Industrialist welcomes policy rate cut

A leading industrialist on Friday welcomed the State Bank of Pakistan (SBP) decision to reduce policy rate to single digit, saying that the reduction would help the ailing manufacturing units to regain strength. Talking to Business Recorder, a lead
Published 15 Dec, 2012 12:00am
Seminar on Pak-Afghan journalists conference held

Seminar on Pak-Afghan journalists conference held

Vice President, Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI), Usman Bashir Bilour has stressed for mutual co-operation in promotion of trade and economic linkages between two neighbouring Afghanistan and Pakistan. He was addressing at a semi
Published 15 Dec, 2012 12:00am
Contempt of court notice: Altaf promises 'response'

Contempt of court notice: Altaf promises 'response'

Reacting to the Supreme Court's observations earlier on Friday, chief of Muttahida Quami Movement (MQM) Altaf Hussain said that he would respond to the contempt of court notice after consulting with legal and constitutional experts. Urging MQM workers to
Published 15 Dec, 2012 12:00am
SECP forms Working Group to develop micro-insurance

SECP forms Working Group to develop micro-insurance

The Securities and Exchange Commission of Pakistan (SECP) in its efforts to augment the development of micro-insurance, which is rapidly growing and benefiting the low-income population of Pakistan, on Friday announced the constitution of a Working Group
Published 15 Dec, 2012 12:00am
SPLGA conspiracy against Sindh: Pir Pagara

SPLGA conspiracy against Sindh: Pir Pagara

Chief of Pakistan Muslim League-Functional (PML-F), Pir Syed Sabghat-u-llah Shah Rahsidi, has said that the Sindh People's Local Government Act (SPLGA) is a grave conspiracy against the people of Sindh. Addressing a big public rally here on Friday, he sai
Published 15 Dec, 2012 12:00am
Qaim meets Engro delegation

Qaim meets Engro delegation

Chief Minister Sindh Syed Qaim Ali Shah today presided a meeting with a delegation with Engro Fertiliser Business Community of Ghotki district at CM House.
Published 15 Dec, 2012 12:00am
Retailers assail ban on SIM cards

Retailers assail ban on SIM cards

Retailers of mobile phone SIM cards on Friday staged a protest against the government's move to ban the retailing of the cards, saying the step will deprive over 1.5 million vendors of their jobs in the country. Over a dozen protestors holding banners and
Published 15 Dec, 2012 12:00am
10 suspects held

10 suspects held

Police on Friday conducted raids in various parts of the city and arrested accused involved in criminal activities. Site-A police on a tip-off conducted raid in Metrovil area and arrested seven accused including alleged target killer and recovered weapons
Published 15 Dec, 2012 12:00am
Met office forecast more rain/snowfall

Met office forecast more rain/snowfall

Meteorological department has forecast thunderstorm/rain with snowfall over the hill tops at isolated places of Malakand, Hazara, Gilgit-Baltistan, Kashmir and sub-mountain areas of Punjab while foggy conditions may likely to occur over the plain areas of
Published 15 Dec, 2012 12:00am
Karachi Club elections: BMG not supporting any group: Teli

Karachi Club elections: BMG not supporting any group: Teli

Siraj Kassam Teli, Chairman Businessmen Group (BMG), has stated that neither he in his personal capacity nor BMG as a group is supporting any Group in the elections of Karachi Club and Karachi Gymkhana as BMG has supporters/voters in all these Groups. He
Published 15 Dec, 2012 12:00am
Simply beyond Fakhro Bhai - I

Simply beyond Fakhro Bhai - I

The so-called by-elections held on December 04, were no different from the ones held under the aegis of the previous Election Commission, in every respect, from ballot paper snatching to forcible occupation of polling booths by armed supporters of various
Published 15 Dec, 2012 12:00am
French village prepares to celebrate the end of the world

French village prepares to celebrate the end of the world

Bugarach - a sleepy village of some 200 souls on the French side of the Pyrenees - has, to its dismay, become a centre of attention because, some believe, it is the only spot on Earth expected to survive a coming global apocalypse on December 21. The endi
Published 15 Dec, 2012 12:00am
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