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Print - 2013-05-05
France spurns call to take over Saint-Nazaire shipyard

France spurns call to take over Saint-Nazaire shipyard

France dismissed on Saturday calls to nationalise the Saint-Nazaire shipyard in the western part of the country after South Korea's STX Offshore & Shipbuilding said it was considering selling its own share of the facility. The group, which has been hurt b
Published 05 May, 2013 12:00am
EU's Barnier calls on France to pursue reforms

EU's Barnier calls on France to pursue reforms

European Union Internal Market Commissioner Michel Barnier, the EU's top financial regulator, called on the French government to pursue its planned reforms despite the Commission allowing two more years to meet its budget deficit target. Olli Rehn, the Eu
Published 05 May, 2013 12:00am
Wall Street sees Fed buying $1.25 trillion of assets in stimulus

Wall Street sees Fed buying $1.25 trillion of assets in stimulus

Wall Street is looking for the Federal Reserve to buy a total of $1.25 trillion of assets under its latest debt purchase program intended to stimulate the economy, according to a Reuters poll conducted on Friday. The median of forecasts from economists at
Published 05 May, 2013 12:00am
Wall Street sees Fed buying $1.25 trillion of assets in stimulus

Wall Street sees Fed buying $1.25 trillion of assets in stimulus

Wall Street is looking for the Federal Reserve to buy a total of $1.25 trillion of assets under its latest debt purchase program intended to stimulate the economy, according to a Reuters poll conducted on Friday. The median of forecasts from economists at
Published 05 May, 2013 12:00am
Dubai to treble tourism income by 2020

Dubai to treble tourism income by 2020

Dubai aims to treble its annual income from tourism to 300 billion dirhams ($82 billion) by 2020, which would involve doubling the number of its hotel rooms, a senior official said. Tourism is crucial to Dubai's economy, which had a gross domestic product
Published 05 May, 2013 12:00am
EU slams Hypo restructuring, threatens aid recovery

EU slams Hypo restructuring, threatens aid recovery

Nationalised Austrian bank Hypo Alpe Adria has failed to justify the state aid it has received and may have to pay it back if it does not improve on its latest restructuring plan, according to a letter from Europe's competition chief.
Published 05 May, 2013 12:00am
Florida passes record budget, backed by sales tax revenue

Florida passes record budget, backed by sales tax revenue

Florida legislators, following a trend among states bouncing back from the national recession, adopted a record $74.5 billion spending plan on Friday and adjourned their 2013 lawmaking session. "While it's true that our spending did go up, we have held $2
Published 05 May, 2013 12:00am
Florida passes record budget, backed by sales tax revenue

Florida passes record budget, backed by sales tax revenue

Florida legislators, following a trend among states bouncing back from the national recession, adopted a record $74.5 billion spending plan on Friday and adjourned their 2013 lawmaking session. "While it's true that our spending did go up, we have held $2
Published 05 May, 2013 12:00am
France wants to boost Japan relations, maintain China ties

France wants to boost Japan relations, maintain China ties

France wants to boost its relations with Japan all the while maintaining strong ties with China, despite simmering diplomatic tensions between the two Asian giants, France's top diplomat said in an interview published on Saturday. Foreign Minister Laurent
Published 05 May, 2013 12:00am
US beef prices set new high

US beef prices set new high

US wholesale beef prices rose to an all-time high on Friday as the delayed spring grilling season is heating up and as supermarkets buy meat for the May 27 US Memorial Day holiday weekend, commonly seen as the unofficial start of the summer cookout season
Published 05 May, 2013 12:00am
UBS names head of private wealth division in Americas

UBS names head of private wealth division in Americas

Swiss bank UBS AG's US brokerage unit has named a new head for its private wealth management division, as the company looks to expand its business catering to clients with $10 million or more in investable assets. John Mathews, who had been a regional dir
Published 05 May, 2013 12:00am
Obama concludes Latin America trips with trade focus

Obama concludes Latin America trips with trade focus

US President Barack Obama turned the spotlight on economic ties with Latin America on Saturday as he wrapped up a three-day trip to a region roiled by drug violence. Obama sought to shift the narrative away from the drug war during visits to Mexico and Co
Published 05 May, 2013 12:00am
Bharti Airtel to sell 5 percent stake to Qatar Foundation

Bharti Airtel to sell 5 percent stake to Qatar Foundation

India's Bharti Airtel Ltd said it will sell a 5 percent stake in the company to Qatar Foundation Endowment for $1.26 billion to strengthen its capital structure and fund future growth plans. The announcement sent its shares up nearly 5 percent. Bharti, th
Published 05 May, 2013 12:00am
Bharti Airtel to sell 5 percent stake to Qatar Foundation

Bharti Airtel to sell 5 percent stake to Qatar Foundation

India's Bharti Airtel Ltd said it will sell a 5 percent stake in the company to Qatar Foundation Endowment for $1.26 billion to strengthen its capital structure and fund future growth plans. The announcement sent its shares up nearly 5 percent. Bharti, th
Published 05 May, 2013 12:00am
Berkshire profit rises 51 percent

Berkshire profit rises 51 percent

Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly profit rose nearly 51 percent on a solid performance in insurance and by many of its other businesses, as well as gains from investments and derivatives. The results topped expectations and
Published 05 May, 2013 12:00am
Berkshire profit rises 51 percent

Berkshire profit rises 51 percent

Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly profit rose nearly 51 percent on a solid performance in insurance and by many of its other businesses, as well as gains from investments and derivatives. The results topped expectations and
Published 05 May, 2013 12:00am
Angola toughens rules to boost transparency in booming bank sector

Angola toughens rules to boost transparency in booming bank sector

Angola has introduced tougher regulations for banks on ownership disclosure, auditing and risk management, responding to international calls for increased transparency and supervision in the oil-rich country's booming financial sector.
Published 05 May, 2013 12:00am
Angola toughens rules to boost transparency in booming bank sector

Angola toughens rules to boost transparency in booming bank sector

Angola has introduced tougher regulations for banks on ownership disclosure, auditing and risk management, responding to international calls for increased transparency and supervision in the oil-rich country's booming financial sector.
Published 05 May, 2013 12:00am
Egypt eyes 5.5 percent budget deficit in 2016-17

Egypt eyes 5.5 percent budget deficit in 2016-17

Egypt hopes to lower its budget deficit to 5.5 percent in the 2016-1017 fiscal year from 10.7 percent in 2012/13, the finance minister told Egypt's Al-Ahram daily newspaper on Saturday. Egypt's budget deficit will reach 197.5 billion Egyptian pounds ($28.
Published 05 May, 2013 12:00am
J.P Morgan Chase faces federal regulatory action

J.P Morgan Chase faces federal regulatory action

J.P. Morgan Chase faces federal regulatory action over a scheme which manipulated energy prices in two US states, the New York Times reported Friday. The Times said it had seen a 70-page government document which indicated staff from the Federal Energy Re
Published 05 May, 2013 12:00am
J.P Morgan Chase faces federal regulatory action

J.P Morgan Chase faces federal regulatory action

J.P. Morgan Chase faces federal regulatory action over a scheme which manipulated energy prices in two US states, the New York Times reported Friday. The Times said it had seen a 70-page government document which indicated staff from the Federal Energy Re
Published 05 May, 2013 12:00am
Duke Energy profit below expectations; power demand weak

Duke Energy profit below expectations; power demand weak

Duke Energy Corp, the largest power provider in the United States, reported a lower-than-expected quarterly profit on Friday, citing weak electricity demand and higher costs at two key units. The company, which uses coal, natural gas and nuclear plants to
Published 05 May, 2013 12:00am
Duke Energy profit below expectations; power demand weak

Duke Energy profit below expectations; power demand weak

Duke Energy Corp, the largest power provider in the United States, reported a lower-than-expected quarterly profit on Friday, citing weak electricity demand and higher costs at two key units. The company, which uses coal, natural gas and nuclear plants to
Published 05 May, 2013 12:00am
RBS pushes for sale of UK government stake

RBS pushes for sale of UK government stake

State-backed Royal Bank of Scotland on Friday pushed for the British government to start selling its 82 percent stake as early as next year even though it could mean a loss for taxpayers. Chairman Philip Hampton said the aim was to have a business in stro
Published 05 May, 2013 12:00am
RBS pushes for sale of UK government stake

RBS pushes for sale of UK government stake

State-backed Royal Bank of Scotland on Friday pushed for the British government to start selling its 82 percent stake as early as next year even though it could mean a loss for taxpayers. Chairman Philip Hampton said the aim was to have a business in stro
Published 05 May, 2013 12:00am
Strong US data hurts Bunds, lifts Spain, Italy debt

Strong US data hurts Bunds, lifts Spain, Italy debt

German Bunds fell sharply on Friday, underperforming other euro zone bonds after data showed US employment rose more than expected in April, prompting investors to sell low-risk debt. The US unemployment rate fell to a four-year low of 7.5 percent in Apri
Published 05 May, 2013 12:00am
Strong US data hurts Bunds, lifts Spain, Italy debt

Strong US data hurts Bunds, lifts Spain, Italy debt

German Bunds fell sharply on Friday, underperforming other euro zone bonds after data showed US employment rose more than expected in April, prompting investors to sell low-risk debt. The US unemployment rate fell to a four-year low of 7.5 percent in Apri
Published 05 May, 2013 12:00am
British investors store up cash expecting more choppy markets

British investors store up cash expecting more choppy markets

British investors increased their cash levels for a second month in April on concerns about the stability of world markets even as systemic risks from the euro zone receded, a Reuters poll showed. In a monthly survey of 14 investment managers, the average
Published 05 May, 2013 12:00am
Indian bonds fall

Indian bonds fall

Indian federal bond yields rose on Friday after the central bank warned it had limited room for further monetary easing while delivering a 25 basis point cut in the key lending rate in line with expectations. The Reserve Bank of India also reduced the amo
Published 05 May, 2013 12:00am
Indian bonds fall

Indian bonds fall

Indian federal bond yields rose on Friday after the central bank warned it had limited room for further monetary easing while delivering a 25 basis point cut in the key lending rate in line with expectations. The Reserve Bank of India also reduced the amo
Published 05 May, 2013 12:00am
Sri Lankan shares hit 16-month high

Sri Lankan shares hit 16-month high

Sri Lankan shares hit a 16-month closing high on Friday led by bluechips such as conglomerate John Keells Holdings, while retail investors bought select shares on expectations of a rate cut at the central bank's policy meeting next week, traders said. The
Published 05 May, 2013 12:00am
Global investors cut stocks, boost cash on slower growth concerns

Global investors cut stocks, boost cash on slower growth concerns

Global investors cut back on stocks and bonds in April, lifting cash levels to a seven-month high, on signs the world economy may be heading for softer growth, Reuters polls showed. Slower-than-expected growth data from China and the United States over th
Published 05 May, 2013 12:00am
Global investors cut stocks, boost cash on slower growth concerns

Global investors cut stocks, boost cash on slower growth concerns

Global investors cut back on stocks and bonds in April, lifting cash levels to a seven-month high, on signs the world economy may be heading for softer growth, Reuters polls showed. Slower-than-expected growth data from China and the United States over th
Published 05 May, 2013 12:00am
Carlyle-backed New Century plans Hong Kong's first REIT in 2 years

Carlyle-backed New Century plans Hong Kong's first REIT in 2 years

New Century Hotel Group, China's biggest privately-owned hotel chain operator, plans to raise up to $300 million in the first initial public offering by a real estate investment trust (REIT) in Hong Kong in two years, IFR reported on Saturday, citing sour
Published 05 May, 2013 12:00am
Carlyle-backed New Century plans Hong Kong's first REIT in 2 years

Carlyle-backed New Century plans Hong Kong's first REIT in 2 years

New Century Hotel Group, China's biggest privately-owned hotel chain operator, plans to raise up to $300 million in the first initial public offering by a real estate investment trust (REIT) in Hong Kong in two years, IFR reported on Saturday, citing sour
Published 05 May, 2013 12:00am
ADR Report: commodity stocks lead foreign shares higher

ADR Report: commodity stocks lead foreign shares higher

US-listed shares of foreign companies rose on Friday boosted by a robust US jobs data that spurred on investors already heartened by global central banks' easy monetary policy that has supported equities over other assets. European commodity-related stock
Published 05 May, 2013 12:00am
Bangladesh confirms dollar bond plan

Bangladesh confirms dollar bond plan

The People's Republic of Bangladesh is firming up plans to issue its first sovereign bond denominated in dollars, but looming elections may prevent it from achieving the goal this year. In an exclusive interview with IFR, Bangladesh Bank governor Atiur Ra
Published 05 May, 2013 12:00am
Bangladesh confirms dollar bond plan

Bangladesh confirms dollar bond plan

The People's Republic of Bangladesh is firming up plans to issue its first sovereign bond denominated in dollars, but looming elections may prevent it from achieving the goal this year. In an exclusive interview with IFR, Bangladesh Bank governor Atiur Ra
Published 05 May, 2013 12:00am
Latin American stocks spike on US jobs data

Latin American stocks spike on US jobs data

Latin American stocks rose on Friday as stronger-than-expected US employment data improved the outlook for global economic growth and boosted commodities shares. Brazil's benchmark Bovespa index enjoyed the most modest gains, rising 0.30 percent to 55,488
Published 05 May, 2013 12:00am
TSX hits three-week high on US jobs data

TSX hits three-week high on US jobs data

Canada's main stock index closed higher on Friday, but off the three-week high it hit earlier on the day when a stronger-than-expected US jobs report galvanised the market. Still, the advance pushed the benchmark index into positive territory on the year
Published 05 May, 2013 12:00am
Treasuries outlook: yields surge as US jobs gain beats expectations

Treasuries outlook: yields surge as US jobs gain beats expectations

US Treasuries yields surged on Friday after employers added more jobs than expected in April, adding to hopes the economy is not slowing as badly as feared. The yield increase is seen as likely to help demand for $72 billion in new Treasuries sales next w
Published 05 May, 2013 12:00am
Treasuries outlook: yields surge as US jobs gain beats expectations

Treasuries outlook: yields surge as US jobs gain beats expectations

US Treasuries yields surged on Friday after employers added more jobs than expected in April, adding to hopes the economy is not slowing as badly as feared. The yield increase is seen as likely to help demand for $72 billion in new Treasuries sales next w
Published 05 May, 2013 12:00am
Dow, S&P 500 close at record levels

Dow, S&P 500 close at record levels

The Dow and S&P 500 advanced to all-time closing highs on Friday, with major indexes jumping 1 percent after an unexpectedly strong April jobs report eased concerns about an economic slowdown. The S&P closed above 1,600 and the Dow briefly traded above 15
Published 05 May, 2013 12:00am
African currencies outlook: falling copper could weigh on Zambian kwacha

African currencies outlook: falling copper could weigh on Zambian kwacha

The Zambian kwacha could come under pressure next week on lower copper prices, while in Ghana strong corporate demand for dollars is likely to keep the cedi near all-time lows. The Zambian kwacha, the currency of Africa's top copper producer, is expected
Published 05 May, 2013 12:00am
Most Latam currencies strengthen

Most Latam currencies strengthen

Most Latin American currencies strengthened on Friday after a stronger-than-expected US jobs report eased concerns about a sharp slowdown in the world's largest economy, encouraging investors to take on risk in emerging markets. The currencies of Mexico a
Published 05 May, 2013 12:00am
PIMCO likes Indian rupee, Chinese yuan as pure currency bets

PIMCO likes Indian rupee, Chinese yuan as pure currency bets

PIMCO, the world's biggest bond investor, picks the Indian rupee and offshore Chinese yuan as pure currency bets and sees value in the bonds as well as the currencies of Brazil and Mexico, a manager of the fund's emerging markets portfolio told Reuters, r
Published 05 May, 2013 12:00am
Dollar surges over one percent against yen after strong jobs data

Dollar surges over one percent against yen after strong jobs data

The dollar surged more than 1 percent against the yen on Friday to its highest level in a week after surprisingly strong US April jobs data fuelled optimism about the resiliency of the US economy. US nonfarm payrolls rose by 165,000 in April, and job incr
Published 05 May, 2013 12:00am
Euribor rates fall

Euribor rates fall

Euribor bank-to-bank lending rates fell on Friday after the European Central Bank cut interest rates for the first time in 10 months on Thursday and held out the possibility of further policy action. Responding to a drop in euro zone inflation well below
Published 05 May, 2013 12:00am
SEB to cut staff in FX as competition hits profit

SEB to cut staff in FX as competition hits profit

Swedish bank SEB plans to cut staff in foreign exchange by 5 to 10 percent in the next three years as pressure from competition and regulation dampens profits and offsets higher trading volumes. Robert Celsing, global head of foreign exchange at SEB, said
Published 05 May, 2013 12:00am
SEB to cut staff in FX as competition hits profit

SEB to cut staff in FX as competition hits profit

Swedish bank SEB plans to cut staff in foreign exchange by 5 to 10 percent in the next three years as pressure from competition and regulation dampens profits and offsets higher trading volumes. Robert Celsing, global head of foreign exchange at SEB, said
Published 05 May, 2013 12:00am
Speculators pare long dollar bets

Speculators pare long dollar bets

Currency speculators slightly reduced their bets in favour of the US dollar in the latest week, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position fell to $24.49 billion in the w
Published 05 May, 2013 12:00am
Romanian leu, Hungarian forint soar

Romanian leu, Hungarian forint soar

The Romanian leu hit a 16-month high on Friday and the Hungarian forint reached a two-week peak as strong US jobs data kept demand up for emerging Europe's higher-yielding assets. Currencies mostly extended gains from Thursday when an ECB rate cut widened
Published 05 May, 2013 12:00am
Canadian dollar gains slightly

Canadian dollar gains slightly

The Canadian dollar gained slightly on its US counterpart and jumped versus other major currencies on Friday, as both North American currencies were boosted by a US labour market report showing hiring rose more than expected in April.
Published 05 May, 2013 12:00am
Messi back in training

Messi back in training

Barcelona forward Lionel Messi trained normally on Saturday and midfielder Sergio Busquets was also back working with his team mates as the La Liga leaders prepare for Sunday's potentially title-clinching game at home to Real Betis.
Published 05 May, 2013 12:00am
Brownlie, Watling hit half-centuries

Brownlie, Watling hit half-centuries

New Zealand made a promising start to their tour of England as Dean Brownlie and BJ Watling scored half-centuries in their opening match against Derbyshire on Saturday. The tourists are warming up for their Test series against England, which starts at Lor
Published 05 May, 2013 12:00am
Pavlyuchenkova wins first clay title

Pavlyuchenkova wins first clay title

Russia's Anastasia Pavlyuchenkova beat Spain's Carla Suarez Navarro 7-5, 6-2 on Saturday to win the Portugal Open and claim her first trophy on clay. The third-seeded champion, coached by former Swiss great Martina Hingis, earned the fifth title of her ca
Published 05 May, 2013 12:00am
India axe Gambhir, Yuvraj

India axe Gambhir, Yuvraj

India's selectors on Saturday dropped opener Gautam Gambhir and all-rounder Yuvraj Singh for next month's Champions Trophy One-day tournament in England. The duo were part of the side that beat England 3-2 in a home One-day series in January, with Gambhir
Published 05 May, 2013 12:00am
Ferrer, Wawrinka in final

Ferrer, Wawrinka in final

Spain's David Ferrer will play his 37th final when he and Swiss Stanislas Wawrinka line up Sunday for the clay title at the Portugal Open. The top seed dispatched Italian Andreas Seppi 6-1, 6-4 in 70 minutes while Wawrinka ended the run of Spanish qualifi
Published 05 May, 2013 12:00am
Haas back in Munich final after 13 years

Haas back in Munich final after 13 years

Evergreen Tommy Haas reached the Munich claycourt final on Saturday, 13 years after his first appearance ended in defeat. Haas, 35, saw off Croatia's Ivan Dodig 6-4, 6-3 and will now face defending champion Philipp Kohlschreiber in Sunday's all-German fin
Published 05 May, 2013 12:00am
Wasim gives valuable tips at training camp

Wasim gives valuable tips at training camp

Pakistan cricket team players on Saturday attended second day session of training camp for preparation of next month's Champions Trophy being held in England. Pakistani legend Wasim Akram also joined the camp and gave valuable tips to the players. Talking
Published 05 May, 2013 12:00am
Amir Atlas reaches Asian Squash final

Amir Atlas reaches Asian Squash final

Pakistan number one Amir Atlas Khan produced a scintillating performance on Saturday in FMC 17th Asian Individual Squash Championship on Saturday and reserved a berth in the final. Amir Atlas outwitted Malaysia's Muhammad Asyref Azan in straight sets 11-5
Published 05 May, 2013 12:00am
Japan's Kiryu to challenge 10-second barrier

Japan's Kiryu to challenge 10-second barrier

Teen running sensation Yoshihide Kiryu will make a bid to become the first Japanese athlete to run 100 metres in under 10 seconds on Sunday, with a packed stadium expected in Tokyo. The 17-year-old high-school student equalled the world record for juniors
Published 05 May, 2013 12:00am
French Open rules out Nadal seeding boost

French Open rules out Nadal seeding boost

Seven-time French Open champion Rafael Nadal will not have his seeding bumped up at this year's Roland Garros, organisers confirmed on Saturday. The Spaniard's world ranking has slipped to five after he missed seven months of action through injury. As a r
Published 05 May, 2013 12:00am
Dortmund, Bayern draw

Dortmund, Bayern draw

Borussia Dortmund ended Bayern Munich's 14-match winning streak in the Bundesliga on Saturday as the warm-up for the Champions League final ended in a 1-1 draw. For the first time since December, Bayern, who finished the match with 10 men, dropped league
Published 05 May, 2013 12:00am
Quickfire Walcott lifts Arsenal into third

Quickfire Walcott lifts Arsenal into third

Theo Walcott fired the fastest Premier League goal of the season as Arsenal moved back up to third place with a 1-0 victory at relegated QPR on Saturday. England winger Walcott struck after just 20 seconds to help Arsene Wenger's side establish a two-poin
Published 05 May, 2013 12:00am
Israel's Netanyahu, Palestine's Abbas head to China

Israel's Netanyahu, Palestine's Abbas head to China

China will host Israeli Prime Minister Benjamin Netanyahu and Palestinian President Mahmoud Abbas next week for separate bilateral talks as it tries to shore up its role in a region where its diplomatic influence is limited. Netanyahu's visit - the first
Published 05 May, 2013 12:00am
Denmark, Finland to upgrade Palestinian diplomatic status

Denmark, Finland to upgrade Palestinian diplomatic status

Denmark and Finland plan to upgrade the status of their respective Palestinian representative offices in Copenhagen and Helsinki to that of an embassy, the Danish foreign ministry said Saturday. "It is with satisfaction that we announce our joint intentio
Published 05 May, 2013 12:00am
Karzai denies CIA cash buys off Warlords

Karzai denies CIA cash buys off Warlords

Afghan President Hamid Karzai on Saturday denied that CIA cash delivered each month to his office was used to buy the support of warlords who could tips the country back into civil war. The US Central Intelligence Agency has secretly handed over tens of m
Published 05 May, 2013 12:00am
Hundreds demonstrate against closure of French nuclear plant

Hundreds demonstrate against closure of French nuclear plant

Hundreds of people in eastern France demonstrated Saturday outside the Fessenheim nuclear power plant to protest its planned closure in 2016. "Fessenheim is safe, let it last!," the demonstrators, who numbered between 400 and 700 according to various esti
Published 05 May, 2013 12:00am
Guantanamo camp burns through $900,000 a year per inmate

Guantanamo camp burns through $900,000 a year per inmate

It's been dubbed the most expensive prison on Earth and President Barack Obama cited the cost this week as one of many reasons to shut down the detention centre at Guantanamo Bay, which burns through some $900,000 per prisoner annually.
Published 05 May, 2013 12:00am
Protests in Chinese city over planned chemical plant

Protests in Chinese city over planned chemical plant

Hundreds of people took to the streets of the Chinese city of Kunming on Saturday to protest against the planned production of a chemical at a refinery, in the latest show of concern over the effects of rapid growth on the environment. China's increasingl
Published 05 May, 2013 12:00am
39 die in Nigerian violence

39 die in Nigerian violence

Thirty-nine people died and 30 were injured in fierce fighting between Christian and Muslim mobs in central Nigeria's Taraba state on Friday, prompting a round-the-clock curfew, police said. Scores of houses were set ablaze and destroyed during the clashe
Published 05 May, 2013 12:00am
Gupta family apologises over wedding jet scandal

Gupta family apologises over wedding jet scandal

A wealthy Indian family in South Africa apologised Saturday for a diplomatic scandal over the use of a military air base to land a private jet flying their guests to a wedding this week. The Gupta family with close ties to President Jacob Zuma and the rul
Published 05 May, 2013 12:00am
One dead, 17 injured in Belgian train accident

One dead, 17 injured in Belgian train accident

One person died and 17 others were injured on Saturday when a train carrying highly toxic chemicals derailed in Belgium, causing a major fire near the city of Ghent, local officials said. Jan Briers, governor of eastern Flanders, had earlier said there we
Published 05 May, 2013 12:00am
Pesco disconnects supply to 89 defaulters

Pesco disconnects supply to 89 defaulters

Peshawar Electricity Supply Company (Pesco) in collaboration with National Accountability Bureau (NAB) disconnected power supply to more than more 89 industrial and commercial defaulters on non-payment of an arrear of more than Rs 30 million.
Published 05 May, 2013 12:00am
Petitioner seeks cancellation of APML's registration

Petitioner seeks cancellation of APML's registration

A bar member on Saturday filed a petition, requesting the Lahore High Court to direct the Election Commission of Pakistan (ECP) to cancel the registration of All Pakistan Muslim League (APML). The petitioner, Afaq Ahmad submitted that since the former mil
Published 05 May, 2013 12:00am
Five of a family among eight killed in Karachi

Five of a family among eight killed in Karachi

At least eight persons were killed in incidents of violence in the city on Saturday, police and rescue sources said. Five persons, including three women and a girl, were killed by unknown armed men who barged into their home in Fareed Colony, Sector 10 of
Published 05 May, 2013 12:00am
Geelani condemns attack on Pakistani prisoner

Geelani condemns attack on Pakistani prisoner

Veteran leader in occupied Kashmir Syed Ali Geelani has termed the attack on a Pakistani prisoner in Kot Bhalwal Jail, as painful and highly condemnable incident. Syed Ali Geelani talking to media men in occupied Srinagar said, "This is painful and highly
Published 05 May, 2013 12:00am
Saarc chamber recommends regional financial cooperation framework

Saarc chamber recommends regional financial cooperation framework

"Strong, sound, coherent and synchronised financial system is an integral component of regional economic co-operation, which would create preferences for increase in cross-border trade and investment opportunities and encourages flow of capital amongst Sa
Published 05 May, 2013 12:00am
PPP workers join PTI

PPP workers join PTI

Office-bearer of Pakistan People's Party of Union Council 78 have announced on Saturday to resign from the party and joined Pakistan Tehreek-e-Insaf (PTI). In the presence of PTI Lahore President Abdul Aleem Khan at Shah Shamas Qari, GOR, in a public meet
Published 05 May, 2013 12:00am
Evening on PACC theme held

Evening on PACC theme held

Pakistan American Cultural Centre (PACC) has organised an evening on the theme of "PACC - A bridge between language and society" at PACC, Head Office here on Saturday.
Published 05 May, 2013 12:00am
Investigators believe Boston bombs likely made at Tsarnaev's home

Investigators believe Boston bombs likely made at Tsarnaev's home

Investigators believe Tamerlan Tsarnaev and his younger brother, Dzhokhar, likely made the bombs they are suspected of setting off at last month's Boston Marathon in Tamerlan's home in Cambridge, Massachusetts, law enforcement officials said on Friday.
Published 05 May, 2013 12:00am
UK parliament's deputy speaker 'arrested over gay rape claim'

UK parliament's deputy speaker 'arrested over gay rape claim'

A deputy speaker of Britain's lower house of parliament was arrested on Saturday on suspicion of raping one man and sexually assaulting another, according to media reports. Media said Nigel Evans, a lawmaker in Prime Minister David Cameron's Conservative
Published 05 May, 2013 12:00am
Anwar says only fraud can stop Malaysia opposition

Anwar says only fraud can stop Malaysia opposition

Anwar Ibrahim said only fraud can stop his Malaysian opposition from scoring a historic election win as the rival sides launched a last-ditch campaign blitz Saturday on the eve of a tense vote. Sunday's elections are the first in the country's 56 years of
Published 05 May, 2013 12:00am
China jails former senior official for life for corruption

China jails former senior official for life for corruption

China has sentenced a former provincial deputy governor to life in prison for accepting almost $2 million in bribes, the most senior official to be punished since the country's new leadership made tackling corruption its top priority. Huang Sheng, former
Published 05 May, 2013 12:00am
Arson-hit South Korean landmark reopens to public

Arson-hit South Korean landmark reopens to public

South Korea on Saturday reopened its landmark Namdaemun gate to the public, five years after the historic jewel in central Seoul was burned down in an arson attack that shocked the nation. The 600-year-old Namdaemun (South Gate), which is listed as "Natio
Published 05 May, 2013 12:00am
Bangladesh urges no harsh EU measures over factory deaths

Bangladesh urges no harsh EU measures over factory deaths

Bangladesh urged the European Union on Saturday not to take tough measures against its economically crucial textile industry in response to the collapse of a garment factory that killed 550 people. Bodies were still being pulled from the ruins on Saturday
Published 05 May, 2013 12:00am
Philippines picks Vietnam to supply 187,000 tonnes of rice

Philippines picks Vietnam to supply 187,000 tonnes of rice

The Philippines has chosen Vietnam's bid for supplying 187,000 tonnes of rice to boost stocks and meet its annual import needs ahead of the typhoon season in the third quarter, the National Food Authority (NFA) said on Tuesday. This year's demand from the
Published 05 May, 2013 12:00am
Thailand may follow neighbours in dropping rubber export cuts

Thailand may follow neighbours in dropping rubber export cuts

Thailand, the world's biggest rubber producer and exporter, may abandon measures to curb rubber exports when they expire on May 31 as they have failed to lift prices, a senior government official said on Friday. Thailand, Indonesia and Malaysia, the world
Published 05 May, 2013 12:00am
ICE cotton up on planting delays, US data

ICE cotton up on planting delays, US data

Cotton futures rose on Friday to post their first weekly gain since March, as US plantings delays prompted worry over upcoming supplies and as stronger-than-expected US government economic data supported commodities and financial markets. The most-active
Published 05 May, 2013 12:00am
Brazil to produce record 35.5 million tonnes of sugar

Brazil to produce record 35.5 million tonnes of sugar

Brazil's main center-south sugar cane crop will produce a record 35.5 million tonnes of sugar this 2013/14 season, an increase of 4.1 percent from the 34.1 million tonnes produced last year, sugar and ethanol industry association Unica said on Monday.
Published 05 May, 2013 12:00am
Thai government increases 2013 sugarcane forecast, drought hits rice

Thai government increases 2013 sugarcane forecast, drought hits rice

Thailand has raised its forecast for the 2013/14 sugarcane crop, potentially boosting sugar production, but revised down its expected rice output due to drought, an Agriculture Ministry official said on Thursday. Thailand, which is propping up local rice
Published 05 May, 2013 12:00am
Commodity traders could face regulation for role as lenders

Commodity traders could face regulation for role as lenders

The world's little-regulated and often secretive commodity trading houses could face new disclosure rules, and even capital requirements, because of their money lending activities, after a global regulatory watchdog's review of "shadow banking". The Finan
Published 05 May, 2013 12:00am
Gold flat after US jobs data, up slightly for week

Gold flat after US jobs data, up slightly for week

Gold ended flat on Friday, erasing earlier gains after faster-than-expected US job growth reduced any need for the Federal Reserve to boost monetary stimulus. Bullion posted a 0.3 percent gain for the week, extending last week's rally of more than 4 perce
Published 05 May, 2013 12:00am
Commodity prices hit by weak global outlook

Commodity prices hit by weak global outlook

Global commodity markets were hit last week by weaker-than-expected manufacturing data in key consumers China and the United States, and news of record high unemployment in the eurozone, but many prices rebounded following the ECB interest rate cut and up
Published 05 May, 2013 12:00am
'Serious and experienced' leaders

'Serious and experienced' leaders

According to May 01 media report, while addressing party workers in Lahore the other day, PML-N president, Nawaz Sharif, asserted that "Pakistan does not need an immature leadership but a serious and experienced one which pulls the country out of crises l
Published 05 May, 2013 12:00am
Mexico, US commit to getting beyond stereotypes

Mexico, US commit to getting beyond stereotypes

US President Barack Obama and his host, Mexican President Enrique Pena Nieto, emphasised this week a new phase in ties between the two countries, one that focuses more on their economic partnership and moves away from stereotypes and traditional problems.
Published 05 May, 2013 12:00am
Francois Hollande, a president under siege

Francois Hollande, a president under siege

Taking over the French presidency in the midst of the worst economic crisis in decades was never going to be a bed of roses. Francois Hollande himself had predicted as much. But the Socialist, whose election was heralded as a new dawn for France and a Eur
Published 05 May, 2013 12:00am
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