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Print - 2013-04-07
World powers, Iran 'far apart' in nuclear stalemate

World powers, Iran 'far apart' in nuclear stalemate

Iran and world powers Saturday failed to break the deadlock in the crisis over Tehran's nuclear drive, with the EU foreign policy chief Catherine Ashton saying the positions were still "far apart". After two days of exhausting diplomacy in the Kazakh city
Published 07 Apr, 2013 12:00am
Guinea-Bissau former navy chief held on US drug charges

Guinea-Bissau former navy chief held on US drug charges

The former navy chief of Guinea-Bissau and four others were ordered detained in New York on Friday after being arrested for an alleged trans-Atlantic cocaine trafficking plot. The highest-profile member of the alleged gang was Jose Americo Bubo Na Tchuto,
Published 07 Apr, 2013 12:00am
Air raid kills 15 in Kurd area of Syria's Aleppo

Air raid kills 15 in Kurd area of Syria's Aleppo

Nine children were among at least 15 people killed in an air strike on a mainly Kurdish district of the northern Syrian city of Aleppo on Saturday, a watchdog said. "The number of people killed in an air strike on the western edges of Sheikh Maksoud has r
Published 07 Apr, 2013 12:00am
Florida celebrates 500th anniversary but history blurred by myth

Florida celebrates 500th anniversary but history blurred by myth

Spanish explorer Ponce de Leon was only 4-foot, 11-inches (1.5 meters) tall, a trolley tour operator told his passengers as they rolled down a picturesque street in St. Augustine lined with moss-draped live oak trees. But the Timucuan Indians he encounter
Published 07 Apr, 2013 12:00am
Russia slams expansion of UN Syria chemical arms probe

Russia slams expansion of UN Syria chemical arms probe

Russia criticised Western moves to expand a planned United Nations probe into chemical weapons in Syria and compared it to the build-up to the US invasion of Iraq. Russia, which has used its clout as a veto-wielding Security Council state to blunt Western
Published 07 Apr, 2013 12:00am
Assad says rebel victory would destabilise Middle East

Assad says rebel victory would destabilise Middle East

President Bashar al-Assad has warned that if rebel forces battling to overthrow him take power in Syria they could destabilise the Middle East for decades. The Syrian leader, locked in a two-year conflict which he says has been fuelled by his regional foe
Published 07 Apr, 2013 12:00am
Dempsey arrives on unannounced visit to Afghanistan

Dempsey arrives on unannounced visit to Afghanistan

Top US military officer General Martin Dempsey arrived in Afghanistan on an unannounced visit Saturday to assess the level of training the US will need to provide Afghan forces after Nato withdraws in 2014, an official said. An estimated 100,000 foreign t
Published 07 Apr, 2013 12:00am
Calls for Britain to offer asylum to Afghan interpreters

Calls for Britain to offer asylum to Afghan interpreters

British military and political figures on Saturday called on the government to offer asylum to hundreds of Afghan interpreters at risk of Taliban reprisals now that the soldiers they helped start pulling out of the country. In an open letter to the Times
Published 07 Apr, 2013 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was lower while the July contract was on the forward cottonseeds oilcake market on Saturday in process of trading, dealers said. The May vaida ended at Rs 911.5, it opened with 20 paisa decline at Rs 911.3 in the morning session, dealers sai
Published 07 Apr, 2013 12:00am
Steady trend on cotton market amid modest activity

Steady trend on cotton market amid modest activity

Modest trading activity was seen on the cotton market on Saturday as the ginners did not take interest in lower the asking prices, dealers said. The official spot rate was unchanged at Rs 6900, they said. Rates of seed cotton in Sindh were at Rs 2000-2700
Published 07 Apr, 2013 12:00am
Mixed pattern on grain market

Mixed pattern on grain market

Prices moved both ways on the wholesale grain market on Saturday in process of trading, dealers said. On the seeds side, rapeseeds Nawabshah gained Rs 100 to Rs 2100-2125, rapeseeds Dadulane picked up Rs 75 to Rs 2125-2150, rapeseeds Mirpurlane New follow
Published 07 Apr, 2013 12:00am
US natural gas futures end up, front hits 20-month high

US natural gas futures end up, front hits 20-month high

US natural gas futures ended up sharply on Friday, with the front-month contract driven to a 20-month high by bullish weekly storage data and stronger price expectations this year after a chilly winter helped whittle down record high inventories. Traders
Published 07 Apr, 2013 12:00am
Winter wheat crop hit by freeze in US key growing areas

Winter wheat crop hit by freeze in US key growing areas

US wheat farmers are expected to write off portions of their winter wheat acreage after a recent freeze in key growing areas struck fields already suffering from drought, wheat experts said Friday. "We've got a significant amount of damage out there," Tra
Published 07 Apr, 2013 12:00am
US Midwest corn bids steady to lower

US Midwest corn bids steady to lower

Corn spot basis bids were steady to lower at US rail terminals and ethanol plants on Friday as bearish buyers delayed purchases even as futures posted their worst weekly decline in 21 months. Bids shed as much as 5 cents per bushel at a terminal in Fort W
Published 07 Apr, 2013 12:00am
Europe cocoa industry hopes for price falls as good crop looms

Europe cocoa industry hopes for price falls as good crop looms

Industry purchasing slowed in Europe's cash cocoa market this week on hopes for further falls in futures prices coupled with good supply cover, traders said on Friday. Talk of disappointing Easter retail chocolate sales also knocked sentiment.
Published 07 Apr, 2013 12:00am
US wheat export premiums steady

US wheat export premiums steady

Wheat export premiums at the US Gulf Coast were mostly steady on Friday after firming earlier in the week on improving demand following a drop in futures prices, traders said. Importer interest was muted on Friday as prices have rebounded after hitting th
Published 07 Apr, 2013 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 127,562 tonnes of cargo comprising 72,393 tonnes of import cargo and 55,169 tonnes of export cargo including 6,182 loaded and empty containers during the last 24 hours ended at 0700 hours on Saturday. The total import cargo of 72,
Published 07 Apr, 2013 12:00am
Asian naphtha price falls to eight-month low

Asian naphtha price falls to eight-month low

The Asian naphtha price fell for a fourth day on Thursday to an eight-month low of $897 a tonne, although its margin rose slightly from low levels. The margin at $93.69 a tonne was still down 30 percent from a month ago as some petrochemical firms have re
Published 07 Apr, 2013 12:00am
Canadian canola futures higher

Canadian canola futures higher

ICE Canadian canola futures edged higher on Friday due to a weak Canadian dollar, but posted their biggest weekly loss in more than three months. Canola recovered from spillover pressure from weaker US soybean prices and technical selling by funds after t
Published 07 Apr, 2013 12:00am
Indian soyabeans ease from contract high; rapeseed flat

Indian soyabeans ease from contract high; rapeseed flat

Indian soyabean futures eased from their contract high on Friday as traders rushed in to book profits due to higher arrivals. Rapeseed traded steady. The actively traded soyabean for May delivery on the National Commodity and Derivatives Exchange was 0.68
Published 07 Apr, 2013 12:00am
Two US senators want banks to hold more capital

Two US senators want banks to hold more capital

The largest US banks would have to hold far more capital under a proposal from two US senators that would toss out international bank capital rules, according to draft legislation. The draft bill, which was obtained by Reuters, calls for regulators to thr
Published 07 Apr, 2013 12:00am
Asian policymakers optimistic Japan stimulus will revive growth

Asian policymakers optimistic Japan stimulus will revive growth

Asian policymakers braced for a flood of capital unleashed by the Bank of Japan's huge monetary stimulus, but some conceded on Friday the impact on global money flows and currencies might prove to be a necessary side-effect to get the region's No 2 econom
Published 07 Apr, 2013 12:00am
Asian policymakers optimistic Japan stimulus will revive growth

Asian policymakers optimistic Japan stimulus will revive growth

Asian policymakers braced for a flood of capital unleashed by the Bank of Japan's huge monetary stimulus, but some conceded on Friday the impact on global money flows and currencies might prove to be a necessary side-effect to get the region's No 2 econom
Published 07 Apr, 2013 12:00am
Toyota pays $16 million to settle US acceleration suit

Toyota pays $16 million to settle US acceleration suit

Toyota has agreed to a $16 million deal with a southern Californian county over charges the Japanese auto giant hid safety issues linked to unintended acceleration of cars, officials said Friday. Toyota issued recalls in 2009 and 2010 affecting nearly six
Published 07 Apr, 2013 12:00am
South Sudan resumes oil production

South Sudan resumes oil production

South Sudan has restarted oil production after agreeing with Sudan to resume cross-border oil flows last month, an executive at the state oil company said on Saturday. After months of negotiations both African countries agreed earlier this month to resume
Published 07 Apr, 2013 12:00am
Obama says his budget aims to reinvigorate middle class

Obama says his budget aims to reinvigorate middle class

US President Barack Obama said Saturday his budget blueprint due to be unveiled next week will aim to reinvigorate America's middle class while introducing reforms to curb the mushrooming deficits. "Our top priority as a nation, and my top priority as pre
Published 07 Apr, 2013 12:00am
Philippines, Cambodia sign two-year rice supply deal

Philippines, Cambodia sign two-year rice supply deal

The Philippines has signed a government-to-government rice supply agreement that adds Cambodia to a list of potential suppliers of the grain, boosting its neighbour's ambitions to become one of the world's biggest rice exporter. But the Philippines has in
Published 07 Apr, 2013 12:00am
BizJet officers charged with bribing Latin American officials

BizJet officers charged with bribing Latin American officials

Two officers of a Lufthansa subsidiary were indicted in Oklahoma on charges of bribing foreign officials to secure aircraft maintenance contracts, while two others pleaded guilty to related criminal charges, the US Department of Justice announced. The cha
Published 07 Apr, 2013 12:00am
Disgraced French budget minister lied to Swiss bank

Disgraced French budget minister lied to Swiss bank

Disgraced former French budget minister Jerome Cahuzac lied to a Swiss bank when it accepted his assertion that funds paid into his account had been declared to tax authorities, a newspaper report said Saturday. The Zurich-based Tages Anzeiger said the po
Published 07 Apr, 2013 12:00am
Morocco cuts state investment, may reconsider subsidy reform

Morocco cuts state investment, may reconsider subsidy reform

The Moroccan government has decided to cut its investment spending this year by 15 billion dirhams ($1.8 billion) to reduce pressure on state finances, the finance ministry said in a statement. The government originally planned in its national budget for
Published 07 Apr, 2013 12:00am
Portugal court rejects some government austerity measures

Portugal court rejects some government austerity measures

Portugal's constitutional court on Friday rejected four out of nine contested austerity measures in this year's budget in a ruling that deals a blow to government finances but is unlikely to derail reforms two years after the country's bailout. The measur
Published 07 Apr, 2013 12:00am
Mandela leaves hospital

Mandela leaves hospital

Former South African president Nelson Mandela left hospital on Saturday after more than a week of treatment of pneumonia that raised global concern about the health of the 94-year-old anti-apartheid leader. "(He) has been discharged from hospital today fo
Published 07 Apr, 2013 12:00am
Hamas accuses Western spies of Gaza operations

Hamas accuses Western spies of Gaza operations

Hamas accused Western and Arab spy agencies on Saturday of operating in the Gaza Strip and said it had a list of alleged collaborators. "The Gaza Strip is swarming with Western intelligence agencies, such as the American, British, French and German servic
Published 07 Apr, 2013 12:00am
Japan's Fukushima nuclear plant leaking radioactive water

Japan's Fukushima nuclear plant leaking radioactive water

As much as 120 tons of radioactive water may have leaked from a storage tank at Japan's crippled Fukushima nuclear plant, contaminating the surrounding ground, Tokyo Electric Power Co said on Saturday. The power company has yet to discover the cause of th
Published 07 Apr, 2013 12:00am
WikiLeaks Party unveils Australian election plans

WikiLeaks Party unveils Australian election plans

Whistleblowing group WikiLeaks unveiled plans Saturday to field candidates in at least three states in Australia's elections and said it would be "embarrassing" if Julian Assange won but could not take his seat. Assange, Australian-born founder of the con
Published 07 Apr, 2013 12:00am
7.1-magnitude quake causes panic in Indonesia's Papua

7.1-magnitude quake causes panic in Indonesia's Papua

A major 7.1-magnitude earthquake struck Indonesia's easternmost province of Papua on Saturday, the US Geological Survey said, sending panicked crowds running into the streets. There were no reports of damage and no tsunami warning was issued after the qua
Published 07 Apr, 2013 12:00am
Sonia Gandhi, Manmohan to fight elections: Congress

Sonia Gandhi, Manmohan to fight elections: Congress

India's ruling Congress will fight the 2014 general elections under the leadership of party president Sonia Gandhi and octogenarian Prime Minister Manmohan Singh, a senior party leader said Saturday. The issue of whom the embattled Congress will project a
Published 07 Apr, 2013 12:00am
FBI interviews former CIA chief Petraeus

FBI interviews former CIA chief Petraeus

FBI agents interviewed ex-CIA chief David Petraeus Friday to probe whether secret files had been passed to the woman at the centre of the scandal that brought him down, USA Today reported. Petraeus, America's most celebrated military leader in a generatio
Published 07 Apr, 2013 12:00am
Kerry kicks off multi-nation tour clouded by crises

Kerry kicks off multi-nation tour clouded by crises

US Secretary of State John Kerry headed to Turkey Saturday on a wide-ranging tour set to be dominated by many of the top world crises - Syria, the Middle East peace process and North Korea. After a plane door problem delayed his flight, Kerry flew out of
Published 07 Apr, 2013 12:00am
Japan-fuelled yield hunt, US jobs buoy eurozone debt

Japan-fuelled yield hunt, US jobs buoy eurozone debt

Yields on the debt of a slew of eurozone countries hit record lows on Friday, on speculation Japanese investors may be switching out of Japanese debt in search of higher returns in the currency bloc. Austrian, Belgian and French 10-year yields all fell to
Published 07 Apr, 2013 12:00am
Japan-fuelled yield hunt, US jobs buoy eurozone debt

Japan-fuelled yield hunt, US jobs buoy eurozone debt

Yields on the debt of a slew of eurozone countries hit record lows on Friday, on speculation Japanese investors may be switching out of Japanese debt in search of higher returns in the currency bloc. Austrian, Belgian and French 10-year yields all fell to
Published 07 Apr, 2013 12:00am
Asian ADRs hit by rising concerns over North Korea

Asian ADRs hit by rising concerns over North Korea

US-listed shares of foreign companies fell on Friday, led lower by Asian companies due to continuing concerns about rising tension on the Korean peninsula. Weaker-than-expected data on the US labour market also dented investors' appetite for risky assets.
Published 07 Apr, 2013 12:00am
Prada turns retail focus to Middle East, Americas

Prada turns retail focus to Middle East, Americas

Italian fashion house Prada SpA plans to focus its next retail push on the Middle East and the Americas to offset lower spending in Europe and lessen its reliance on Asia, where booming growth is levelling off. The maker of leather bags and colourful Miu
Published 07 Apr, 2013 12:00am
Hopes still pinned on cheap Chinese shares

Hopes still pinned on cheap Chinese shares

The triumph of hope over experience. That might describe investors' continuing infatuation with Chinese stocks despite mostly meagre rewards in the past. Though MSCI's China index is languishing 4 percent in the red this year, many fund managers are betti
Published 07 Apr, 2013 12:00am
Indian bond yields ease

Indian bond yields ease

Indian bond yields eased after the country's first debt auction in the new fiscal year saw strong demand, signalling a robust appetite for debt despite uncertain prospects about whether the central bank would continue to cut interest rates. The yield on t
Published 07 Apr, 2013 12:00am
Indian bond yields ease

Indian bond yields ease

Indian bond yields eased after the country's first debt auction in the new fiscal year saw strong demand, signalling a robust appetite for debt despite uncertain prospects about whether the central bank would continue to cut interest rates. The yield on t
Published 07 Apr, 2013 12:00am
TSX in five-day losing streak on lacklustre jobs data

TSX in five-day losing streak on lacklustre jobs data

Canada's main stock index capped a five-day losing streak by slumping to its lowest in more than 3-1/2 months on Friday, led by declines in the financial sector, as gloomy Canadian and US jobs data suggested the North American economy could be losing stea
Published 07 Apr, 2013 12:00am
Treasuries outlook: yields sink as jobs data hint at drag on growth

Treasuries outlook: yields sink as jobs data hint at drag on growth

US Treasuries prices jumped on Friday and yields fell to their lowest this year after data showed far fewer jobs were created than expected in March, fuelling worries the beleaguered labour market will drag on the economy. The Labour Department said the U
Published 07 Apr, 2013 12:00am
Treasuries outlook: yields sink as jobs data hint at drag on growth

Treasuries outlook: yields sink as jobs data hint at drag on growth

US Treasuries prices jumped on Friday and yields fell to their lowest this year after data showed far fewer jobs were created than expected in March, fuelling worries the beleaguered labour market will drag on the economy. The Labour Department said the U
Published 07 Apr, 2013 12:00am
Rosneft eyes bond market return

Rosneft eyes bond market return

Russia's Rosneft is likely to return to the international capital markets in the next couple of weeks, according to bankers, with its first bond deal since completing the state-owned company's US $55 billion acquisition of TNK-BP. "It's one of the names t
Published 07 Apr, 2013 12:00am
Rosneft eyes bond market return

Rosneft eyes bond market return

Russia's Rosneft is likely to return to the international capital markets in the next couple of weeks, according to bankers, with its first bond deal since completing the state-owned company's US $55 billion acquisition of TNK-BP. "It's one of the names t
Published 07 Apr, 2013 12:00am
Brazilian stocks up on government stimulus, Mexico down

Brazilian stocks up on government stimulus, Mexico down

Brazilian stocks rose after the government promised to extend tax breaks to boost investment, while stocks fell elsewhere in Latin America on data showing US employers hired at a slower-than-expected pace in March. Mexican and Chilean shares tracked globa
Published 07 Apr, 2013 12:00am
S&P posts 2013's worst weekly drop on jobs data

S&P posts 2013's worst weekly drop on jobs data

US stocks ended their worst week this year with losses on Friday after a weaker-than-expected jobs report undermined confidence in the economy and first-quarter earnings growth. The jobs data, which showed employers hired at the slowest pace in nine month
Published 07 Apr, 2013 12:00am
Yen set to weaken slightly, provided BoJ acts

Yen set to weaken slightly, provided BoJ acts

The yen will weaken slightly over the next 12 months provided the Bank of Japan follows through on market expectations for aggressive monetary stimulus, a Reuters poll showed on Wednesday. The currency has lost over a fifth of its value since October on e
Published 07 Apr, 2013 12:00am
Canadian dollar ends weaker

Canadian dollar ends weaker

The Canadian dollar weakened against its US counterpart on Friday after grim employment data in Canada and the United States sparked concerns the economic recovery may be flagging, sending investors to the safety of government bonds.
Published 07 Apr, 2013 12:00am
Sri Lankan rupee at one-year high

Sri Lankan rupee at one-year high

The Sri Lankan rupee gained slightly to a one-year closing high on Friday on high remittances ahead of the traditional new year, but currency dealers expect it to ease back after the holiday. The rupee edged up to 125.50/70 to the dollar, from Thursday's
Published 07 Apr, 2013 12:00am
Brazilian real, Mexico peso jump

Brazilian real, Mexico peso jump

The Brazilian real jumped nearly 1.5 percent while the Mexican peso hit a 19-month high on Friday after weaker-than-expected US jobs data upheld expectations of continued monetary stimulus by the Federal Reserve. Other Latin American currencies also ralli
Published 07 Apr, 2013 12:00am
Dollar stumbles after weak US jobs data, yen falls

Dollar stumbles after weak US jobs data, yen falls

The dollar dropped to a two-week low against the euro, as worse-than-expected US jobs data for March raised concerns that the pace of recovery in the American labour market has slowed. Japan's yen also extended its downward slide, hitting its worst levels
Published 07 Apr, 2013 12:00am
Euribor rates steady

Euribor rates steady

Euribor bank-to-bank lending rates held steady on Friday, waiting for fresh policy action from the European Central Bank after it opened the door to a cut in official interest rates as soon as next month. On Friday, the three-month Euribor rate, tradition
Published 07 Apr, 2013 12:00am
Speculators increase long dollar bets to nine-month high

Speculators increase long dollar bets to nine-month high

Currency speculators' bets in favour of the US dollar swelled to their highest level in nine months in the latest week, according to data released by the Commodity Futures Trading Commission on Friday. The value of the dollar's net long position rose to $
Published 07 Apr, 2013 12:00am
Asian currencies seen rallying this year on strong inflows

Asian currencies seen rallying this year on strong inflows

Asian currencies will rally modestly against the US dollar over the coming months, helped by superior economic growth, trade surpluses and resulting capital inflows, a Reuters poll showed. Still, concerns of a policy reversal by the Federal Reserve and ex
Published 07 Apr, 2013 12:00am
Williams sisters book semi-final showdown

Williams sisters book semi-final showdown

Serena and Venus Williams pulled double-duty on Friday, winning two matches apiece at the rain-disrupted WTA claycourt event in Charleston to book a semi-final showdown. The Williams sisters will face each other across the net for the first time since 200
Published 07 Apr, 2013 12:00am
Five uncapped players in Sri Lanka squad

Five uncapped players in Sri Lanka squad

Sri Lanka have named five uncapped players in their provisional 30-man squad for the ICC Champions trophy in England and Wales in June. The squad includes batsmen Kithuruwan Vithanage, Angelo Perera and Shehan Jayasuriya, fast bowler Ishara Jayaratne and
Published 07 Apr, 2013 12:00am
Quintana takes Basque Tour title

Quintana takes Basque Tour title

Colombian Nairo Quintana has won the Tour of the Basque Country after finishing second in the 24km time trial that rounded off the six-stage event. The Movistar rider started the day six seconds behind compatriot Sergio Henao (Sky) but he finished 40 seco
Published 07 Apr, 2013 12:00am
India drop Sehwag for Champions Trophy

India drop Sehwag for Champions Trophy

India's selectors on Saturday left out dashing batsman Virender Sehwag from a 30-man preliminary squad for the Champions Trophy in England in June. Seasoned off-spinner Harbhajan Singh and veteran seamer Zaheer Khan were also missing from the list, which
Published 07 Apr, 2013 12:00am
J A Zaman Golf tournament begins

J A Zaman Golf tournament begins

The first J A Zaman Golf Tournament has been started here at the Lahore Gymkhana Golf Course on Saturday after an inaugural tee shot hit by the 95-year old golfer of Lahore Gymkhana, J A Zaman. Zaman has been playing golf for the past five decades and is
Published 07 Apr, 2013 12:00am
Majid enters Asian Snooker semis

Majid enters Asian Snooker semis

Pakistani cueist Muhammad Majid Ali secured his place in the semifinals of 14th Asian Snooker Championship after registering a 5-2 victory against Chinese Zhu Yinghui in Indore, India on Saturday. Faisalabad based Majid recorded a 76-26, 26-81(61), 19-76,
Published 07 Apr, 2013 12:00am
Pakistan cruise into U-16 Asia Hockey Cup final

Pakistan cruise into U-16 Asia Hockey Cup final

Pakistan hockey team cruised into the final of U-16 Asia Cup after beating their counterparts from Malaysia in the semi-final encounter recording a formidable 6-0 victory on Saturday in Singapore. Muhammad Atiq scored twice while Sikandar Mustafa, Nohaiz
Published 07 Apr, 2013 12:00am
Ten-man Arsenal go fourth, Villa escape drop zone

Ten-man Arsenal go fourth, Villa escape drop zone

Arsenal won 2-1 at West Bromwich Albion on Saturday to climb into the Champions League places at Chelsea's expense, while Aston Villa claimed a precious win in their fight to avoid relegation from the Premier League. A brace from Tomas Rosicky gave Arsena
Published 07 Apr, 2013 12:00am
Bayern confirmed Bundesliga champions

Bayern confirmed Bundesliga champions

Bayern Munich set the record for the earliest Bundesliga title win on Saturday when they were confirmed as German champions for the 23rd time with a 1-0 win at Eintracht Frankfurt. Germany star Bastian Schweinsteiger scored the decisive goal to give Bayer
Published 07 Apr, 2013 12:00am
Hewitt leads Australia to doubles win over Uzbeks

Hewitt leads Australia to doubles win over Uzbeks

Former world number one Lleyton Hewitt inspired Australia to a five-set doubles victory to take the edge over Uzbekistan in the Davis Cup Asia-Oceania Group one second round tie in Namangan on Saturday. Hewitt, rested from Friday's opening singles, partne
Published 07 Apr, 2013 12:00am
Paes helps India avoid Davis Cup relegation

Paes helps India avoid Davis Cup relegation

Veteran Leander Paes led from the front as India seized a decisive 3-0 lead over Indonesia on Saturday to avoid relegation in the Davis Cup Asia-Oceania tie. Paes, taking part in his 50th Cup tie, partnered Sanam Singh to an easy 6-2, 6-1, 6-4 win over th
Published 07 Apr, 2013 12:00am
Pakistan to lodge protest over Davis Cup default

Pakistan to lodge protest over Davis Cup default

Pakistan on Saturday said it would protest to tennis authorities over a referee's decision to award a Davis Cup tie to New Zealand because of an unplayable court surface at a neutral venue. The Asia Oceania group II tie was played in Yangon, Myanmar after
Published 07 Apr, 2013 12:00am
UkrAgroConsult cuts Ukraine's 2013 grain crop forecast

UkrAgroConsult cuts Ukraine's 2013 grain crop forecast

Analyst UkrAgroConsult on Thursday cut its forecast of Ukraine's 2013 grain crop by 1.5 percent to 52.4 million tonnes due to a significant delay in spring grain sowing caused by snowfall across central, northern and western regions. "Late resumption of w
Published 07 Apr, 2013 12:00am
China keeps cotton reserve sales volume steady

China keeps cotton reserve sales volume steady

China, the world's top cotton consumer, kept volumes of cotton offered from its state reserves steady on Monday, defying expectations that it could ramp up sales to help ease tight domestic supplies after stockpiling most of the domestic crop. A governmen
Published 07 Apr, 2013 12:00am
New York cotton futures decline most in 2-1/2 weeks

New York cotton futures decline most in 2-1/2 weeks

ICE cotton posted its largest one-day drop in 2-1/2 weeks on Friday, as weaker-than-expected US government data prompted concern over the health of the world's largest economy and pressured commodities markets. The most-active May cotton contract on ICE F
Published 07 Apr, 2013 12:00am
India's maize seen down on higher supply; kapaskhali to drop

India's maize seen down on higher supply; kapaskhali to drop

Maize futures in India are expected to trade lower next week due to rising spot supplies, anticipation of higher winter crop while concerns over an outbreak of bird flu in China may cut feed demand and larger-than-expected US grain stockpiles also seen we
Published 07 Apr, 2013 12:00am
Corn's weekly loss biggest in 21 months; soya declines

Corn's weekly loss biggest in 21 months; soya declines

US corn prices set a nine-month low on Friday and posted their biggest weekly loss in 21 months on more selling in the wake of last week's US government report that showed larger-than-expected stockpiles of the grain. Soybeans fell to a 10-month low on fe
Published 07 Apr, 2013 12:00am
Indian sugar futures lower

Indian sugar futures lower

Indian sugar futures ended lower on Friday on profit-taking due to higher supplies, erasing early gains from the government's move to remove curbs on the tightly regulated sugar sector. The government will no longer force mills to sell sugar to it at a di
Published 07 Apr, 2013 12:00am
New York gold rallies as weak US jobs data affirms Fed easing

New York gold rallies as weak US jobs data affirms Fed easing

Gold rallied over 1.5 percent on Friday, its biggest one-day gain since November, as disappointing US job data fuelled expectations the Federal Reserve will continue its bullion-friendly bond purchases. The metal snapped three consecutive days of sharp lo
Published 07 Apr, 2013 12:00am
Commodities rocked by growing US economic gloom

Commodities rocked by growing US economic gloom

Most commodity prices fell last week after a surprisingly bad labour report in the United States, which is a top consumer of many raw materials, while Brent oil also struck a five-month low on fears of a supply glut. The US labour market was far weaker th
Published 07 Apr, 2013 12:00am
ICMA holds conference on Management Accounting and Value Creation

ICMA holds conference on Management Accounting and Value Creation

ICMA Pakistan organised an International Conference on "Management Accounting and Value Creation" on April 06, 2013 at a local hotel at Lahore. The conference was aimed at deliberating ways to achieve economic prosperity. The speakers at the conference em
Published 07 Apr, 2013 12:00am
ICCI participated in MIHAS Expo

ICCI participated in MIHAS Expo

Islamabad Chamber of Commerce and Industry (ICCI) delegation led by its President Zafar Bakhtawari participated in the Malaysia International Halal Showcase (MIHAS) Expo. ICCI delegation also called on High Commissioner of Pakistan in Kuala Lumpur, Malays
Published 07 Apr, 2013 12:00am
Bookies gamble on candidates

Bookies gamble on candidates

After gambling on sporting events across the globe, bookies have started betting on different candidates of mainstream political parties, including PML-N, PPP and PTI in general elections. Bookies have fixed rates of candidates according to their worth an
Published 07 Apr, 2013 12:00am
Sharifs bargained with Musharraf to leave country: Malik

Sharifs bargained with Musharraf to leave country: Malik

Sharif brothers had bargained with Pervez Musharraf to leave the country for ten years and broke the agreement, said former Interior Minister Rehman Malik. He said this while talking to media here on Saturday. According to him, there was no political pris
Published 07 Apr, 2013 12:00am
100 scientists to be given research productivity awards

100 scientists to be given research productivity awards

The Ministry of Science and Technology announced Research Productivity Awards to more than 100 Scientists of the University of Agriculture, Faisalabad (UAF) for their innovative contribution to the field of research and education. This was stated by Profe
Published 07 Apr, 2013 12:00am
'Pakistan, Algeria should strengthen economic relations'

'Pakistan, Algeria should strengthen economic relations'

Pakistan and Algeria enjoy excellent political relations but the economic relations are not satisfactory, we are here to strengthen bilateral trade ties by establishing direct contact with the business community of Pakistan, said Dr Ahmed Benflis, Ambassa
Published 07 Apr, 2013 12:00am
Judicial Officers agents of change: Justice Mansoor

Judicial Officers agents of change: Justice Mansoor

Justice Syed Mansoor Ali Shah of the Lahore High Court said that Judicial Officers are agents of change. He was addressing a concluding ceremony of Capacity Building Training Course designed for Judicial Magistrates at Punjab Judicial Academy (PJA).
Published 07 Apr, 2013 12:00am
PHMA protests against injudicious distribution of electricity

PHMA protests against injudicious distribution of electricity

Pakistan Hardware Merchants Association (PHMA) has strongly protested at the injudicious distribution of electricity and called for an equitable supply. "Punjab alone must not be made sole victim of power and gas shortage, rather it should be shared among
Published 07 Apr, 2013 12:00am
Mobile phone prices rise

Mobile phone prices rise

In the backdrop of the Federal Board of Revenue (FBR)'s decision to enhance duties on mobile phone sets both basic and smart, prices of the mobile phone sets have increased by Rs 1,500 to 2,000 in the market. Sources said the SRO issued in this regard by
Published 07 Apr, 2013 12:00am
Mobile phone prices rise

Mobile phone prices rise

In the backdrop of the Federal Board of Revenue (FBR)'s decision to enhance duties on mobile phone sets both basic and smart, prices of the mobile phone sets have increased by Rs 1,500 to 2,000 in the market. Sources said the SRO issued in this regard by
Published 07 Apr, 2013 12:00am
Unavailability of textbooks: teachers, parents to launch protests

Unavailability of textbooks: teachers, parents to launch protests

Students of government schools from class 1 to 10 in Rawalpindi district could not get free textbooks for their next classes so far due to slackness of concerned authorities. Teachers, parents and students deplored concerned authorities for delay in distr
Published 07 Apr, 2013 12:00am
Minister visits Office of Minority Affairs, Human Rights Department

Minister visits Office of Minority Affairs, Human Rights Department

Provincial Minister for Minority Affairs and Human Rights, Jamshed Rehmatullah here on Saturday visited the office of Minority Affairs and Human Rights Department and met with officers and the staff. Secretary Minority Affairs and Human Rights Javed Iqbal
Published 07 Apr, 2013 12:00am
Punjab Cabinet approves wheat procurement drive

Punjab Cabinet approves wheat procurement drive

Punjab Cabinet in its first meeting chaired by caretaker Chief Minister Najam Sethi here on Saturday approved wheat procurement campaign 2013-14. Punjab ministers, chief secretary, secretaries attended the meeting. The cabinet meeting while dwelling on wh
Published 07 Apr, 2013 12:00am
'Pakistan possesses rich heritage in shape of monuments'

'Pakistan possesses rich heritage in shape of monuments'

Provincial Minister for Health, Population Welfare and Archaeology Departments Salima Hashmi said that Pakistan has unprecedented treasure in the shape of monuments of ancient civilisation and historical buildings and local and international tourism can b
Published 07 Apr, 2013 12:00am
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