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Print - 2013-05-18
Wall Street slips after Fed comments

Wall Street slips after Fed comments

US stocks fell on Thursday, with the downturn accelerating late in the day after a Federal Reserve official said the central bank could begin easing up on its monetary stimulus this summer. The three major US stock indexes had earlier traded in a tight ra
Published 18 May, 2013 12:00am
Southeast Asian markets: Thai index up on MSCI

Southeast Asian markets: Thai index up on MSCI

Thai shares gained on Friday, led by gains in Shin Corp and Minor International that will be added to the MSCI index, but Singapore retreated as Singapore Airlines fell after posting weak results. The Thai SET index ended up 0.62 percent at 1,627.96 as sh
Published 18 May, 2013 12:00am
Treasuries move higher

Treasuries move higher

US Treasuries prices rose on Thursday after data on housing, jobs, prices and manufacturing raised questions about the US economy's strength and made it look more likely that the Federal Reserve would keep monetary policy accommodative. The government sai
Published 18 May, 2013 12:00am
Treasuries move higher

Treasuries move higher

US Treasuries prices rose on Thursday after data on housing, jobs, prices and manufacturing raised questions about the US economy's strength and made it look more likely that the Federal Reserve would keep monetary policy accommodative. The government sai
Published 18 May, 2013 12:00am
Indian shares at new 2-1/2 year highs

Indian shares at new 2-1/2 year highs

Indian shares edged higher on Friday to new 2-1/2-year highs as continued hopes for rate cuts bolstered sentiment for bluechips such as ICICI Bank and Larsen & Toubro, although some analysts warned the recent rally could be running out of steam.
Published 18 May, 2013 12:00am
Nikkei hits new 5 1/2-year high

Nikkei hits new 5 1/2-year high

The Nikkei share average rose on Friday with investors snapping up reflationary plays such as real estate stocks on the dips - posting a second week of gains supported by the benign effects of a weak yen. Agriculture-related stocks also lifted the market,
Published 18 May, 2013 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan shares closed down 0.26 percent on Friday, taking a pause after reaching a 21-month closing high in the prior session, with Hon Hai Precision Industry and HTC Corp slipping 1.4 percent and 1.7 percent respectively. The main TAIEX index slid 21.86 p
Published 18 May, 2013 12:00am
Auto stocks help European shares set five-year high

Auto stocks help European shares set five-year high

A rally in auto stocks and strong US data helped European shares set a 5-year high on Friday and record their fourth consecutive weekly gain, with cyclical shares leading risers. Automotive stocks added 2.9 percent after Europe's car market grew for the f
Published 18 May, 2013 12:00am
Banks lift Britain's FTSE to 5-1/2 year highs

Banks lift Britain's FTSE to 5-1/2 year highs

Britain's top share index hit fresh five and a half year highs on Friday, as banks were buoyed by an upgrade, the prospect of the end of state ownership in the sector and rotation out of defensive stocks. The FTSE 100 closed up 35.26 points, or 0.5 percen
Published 18 May, 2013 12:00am
Yuan ends up

Yuan ends up

China's yuan closed up on Friday after the central bank set an unexpectedly strong official midpoint, following on from an overnight slip in the dollar, to signal its intention to let the Chinese currency appreciate further in the near term. Spot yuan clo
Published 18 May, 2013 12:00am
Aussie, New Zealand dolar battered

Aussie, New Zealand dolar battered

The New Zealand and Australian dollars were battered again on Friday, taking losses for the week to more than 2 percent as investors used hawkish comments from a regional US Federal Reserve official as an excuse to accelerate selling. The New Zealand doll
Published 18 May, 2013 12:00am
Dollar climbs in Asia

Dollar climbs in Asia

The US dollar approached a 10-month high against a basket of currencies on Friday after a regional Federal Reserve chief said the US central bank could begin easing up on stimulus this summer, sharpening the high-yielding Aussie's fall. Currency markets t
Published 18 May, 2013 12:00am
Dollar index near 10-month high in London

Dollar index near 10-month high in London

The dollar rose against a basket of currencies on Friday, trading near a 10-month high as debate over whether the Federal Reserve would wind down its asset buying programme later this year gathered pace. The dollar's strength, along with expectations that
Published 18 May, 2013 12:00am
Early trade in New York: dollar rallies across the board

Early trade in New York: dollar rallies across the board

The dollar rallied across the board on Friday, rocketing to a fresh 4-1/2-year high against the yen above the 103-yen level as data showing a robust rebound in US consumer sentiment prompted more investors to add to bullish bets. Debate over whether the F
Published 18 May, 2013 12:00am
Dollar recovers against euro, yen

Dollar recovers against euro, yen

The US dollar recovered to trade higher against the euro and yen late Thursday afternoon in a volatile session that saw the US currency swing between gains and losses. The move higher came after John Williams, president of the Federal Reserve Bank of San
Published 18 May, 2013 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened on Friday on the back of a broad rally in the dollar versus major currencies, but gains in domestic shares limited a sharp sell-off. The dollar rose against a basket of currencies on Friday, hovering near a 10-month high as debat
Published 18 May, 2013 12:00am
Singapore dollar hits 10-month low

Singapore dollar hits 10-month low

The Singapore dollar hit a near 10-month low on Friday after soft exports data, and is set to suffer its worst week in a year - leading weekly declines in emerging Asian currencies. The US dollar rose on remarks by a regional Federal Reserve president env
Published 18 May, 2013 12:00am
Sterling falls against dollar

Sterling falls against dollar

Sterling fell to a six-week low against a broadly firmer dollar on Friday on growing expectations the US Federal Reserve could soon start to scale back monetary stimulus after recent comments from Fed officials. Analysts expected the pound to stay weak ag
Published 18 May, 2013 12:00am
Samson memorial golf tournament held

Samson memorial golf tournament held

The Samson Memorial Golf Tournament for golf caddies was held at the Lahore Gymkhana Golf Course and contested over 18 holes on stroke play basis. Incidentally, Samson was a highly respected caddie who died instantly in a tragic road accident, while comin
Published 18 May, 2013 12:00am
RCA elections to be held on June 18

RCA elections to be held on June 18

Under the directives of Pakistan Cricket Board (PCB) the elections on the seats of President and Secretary of Regional Cricket Association (RCA) Sialkot will be held on June 18 disclosed Chairman Interim Committee Ghazzanfar Ali Shabbir. Talking to report
Published 18 May, 2013 12:00am
LHC suspends PCB notification of ad hoc committees

LHC suspends PCB notification of ad hoc committees

The Lahore High Court Friday suspended Pakistan Cricket Board's (PCB) notification for ad hoc regional committees. Justice Ijaz ul Ahsan passed the order on petitions filed by Muhammad Anwar, President regional cricket association, Faisalabad and others.
Published 18 May, 2013 12:00am
Strauss wants Pietersen fit for Ashes

Strauss wants Pietersen fit for Ashes

Former England captain Andrew Strauss said Friday it was important for the side's Ashes prospects that star batsman Kevin Pietersen regained full fitness. Pietersen is currently sidelined with a knee problem and in his absence England struggled to 232 all
Published 18 May, 2013 12:00am
Tait angry over spot fix claims

Tait angry over spot fix claims

Australian fast bowler Shaun Tait has strongly denied any link to the arrest of three Indian team-mates allegedly involved in spot-fixing during an Indian domestic Twenty20 cricket tournament. Test player Shanthakumaran Sreesanth and fellow bowlers Ankeet
Published 18 May, 2013 12:00am
Anderson bowls England back into first Test

Anderson bowls England back into first Test

James Anderson took his 300th Test wicket and then ended a bold counter-attack by New Zealand's Ross Taylor as England fought back in the first Test at Lord's. The two players lit up a Lord's bathed in artificial floodlight to counter the overhead gloom o
Published 18 May, 2013 12:00am
PU to promote sports activities

PU to promote sports activities

Honorary Consul of France in Lahore and renowned sports figure Ashiq Hussain Qureshi and Sports for Pakistan's Program Director and Consultant Dr Zsuzsanna Fajcsak called on Punjab University Vice Chancellor Professor Dr Mujahid Kamran here at his office
Published 18 May, 2013 12:00am
Government Degree Boys College win Inter Collegiate Cricket

Government Degree Boys College win Inter Collegiate Cricket

Government Degree Boys College, Korangi No 2-1/2 defeated Jinnah Degree College by 3 wickets in the final of Inter Collegiate Cricket Tournament Karachi. Jinnah College won the toss and elected to bat first and got all out on 88 runs in 18.3 overs. Syed F
Published 18 May, 2013 12:00am
Pakistan can defeat India in Birmingham: Ajmal

Pakistan can defeat India in Birmingham: Ajmal

Pakistan's master spinner Saeed Ajmal believed that his team was capable of beating India in the forthcoming ICC Champions Trophy. Talking to private news channel, Saeed Ajmal said that both sides were very strong and at the end of the day, the team that
Published 18 May, 2013 12:00am
Serena breezes into semis

Serena breezes into semis

Top seed Serena Williams booked her place in the semi-finals of the WTA Rome Open on Friday after a comfortable 6-2, 6-0 win over Spain's Carla Suarez Navarro. Williams took just over 56 minutes on Central Court to brush aside the Spaniard, who offered li
Published 18 May, 2013 12:00am
Nadal ousts Ferrer in Rome slug-fest

Nadal ousts Ferrer in Rome slug-fest

Defending champion Rafael Nadal remained on course for the Rome Masters final after coming through a tough quarter-final against fellow Spaniard David Ferrer on Friday. Nadal prevailed 6-4, 4-6, 6-2 in a 2hr 46min thriller in which Ferrer's challenge only
Published 18 May, 2013 12:00am
Djokovic crashes in Rome, ailing Sharapova pulls out

Djokovic crashes in Rome, ailing Sharapova pulls out

World number one Novak Djokovic crashed to defeat at the Rome Masters at the hands of big-serving Tomas Berdych on Friday while Maria Sharapova withdrew from the women's event through illness. Berdych, who had beaten top-seeded Djokovic only once in their
Published 18 May, 2013 12:00am
Pakistan beat Scotland by 96 runs

Pakistan beat Scotland by 96 runs

Pakistan beat Scotland by 96 runs in first ODI played at Edinburgh on Friday, Aaj News reported. Scotland's did a good job to restrict Pakistan to a modest total on Friday thanks to a half ton from skipper Misbah-ul-Haq. Pakistan's choice to bat fi
Published 18 May, 2013 12:00am
Fearing Afghan instability, Russia mulls border troops

Fearing Afghan instability, Russia mulls border troops

Russia, predicting instability once Nato-led troops withdraw from Afghanistan by the end of next year, is considering deploying border guards on the Tajik-Afghan border, Moscow's envoy to Kabul told Reuters in an interview. Moscow, still sore from its dis
Published 18 May, 2013 12:00am
34 dead, 12 missing as storms hit south China

34 dead, 12 missing as storms hit south China

Floods and landslides left at least 34 people dead and 12 missing, forcing the evacuation of tens of thousands, after rainstorms swept across southern China, the government said on Friday. At least 19 died and 11 were missing in the worst-hit province of
Published 18 May, 2013 12:00am
Tunisia slaps ban on Salafist congress: ministry

Tunisia slaps ban on Salafist congress: ministry

The Tunisian government has definitively banned hard-line Salafist group Ansar al-Sharia from holding its annual congress at the weekend, the interior ministry announced on Friday. "We have decided to prohibit this gathering, which would be in violation o
Published 18 May, 2013 12:00am
Bangladesh garment hub reopens after unrest

Bangladesh garment hub reopens after unrest

Hundreds of garment factories in a Bangladesh manufacturing hub reopened Friday, days after they were closed down due to unrest sparked by the country's worst industrial tragedy, employers said. Bangladesh Garment Manufacturers and Exporters Association s
Published 18 May, 2013 12:00am
Hundreds march in Cairo demanding Morsi ouster

Hundreds march in Cairo demanding Morsi ouster

Hundreds of people marched on Cairo's Tahrir Square on Friday calling for Egypt's Islamist President Mohamed Morsi to resign and demanding early elections, AFP correspondents and local media reported. The demonstration was called by a number of opposition
Published 18 May, 2013 12:00am
US removes Iraqi bank from Iran sanctions list

US removes Iraqi bank from Iran sanctions list

The United States on Friday removed sanctions on an Iraqi bank that was blacklisted last year for helping Iran skirt international financial controls over its nuclear activities. The US Treasury said it removed the sanctions placed last July on Baghdad-ba
Published 18 May, 2013 12:00am
Zambian students protest over food subsidy cuts

Zambian students protest over food subsidy cuts

Zambian President Michael Sata ordered Friday the arrest of scores of university students who took part in a protest against the government's decision to stop staple food subsidies. Hundreds of students from the University of Zambia marched to the state h
Published 18 May, 2013 12:00am
IRS chief declines to identify employees involved in scandal

IRS chief declines to identify employees involved in scandal

The outgoing head of the Internal Revenue Service provided little help on Friday to lawmakers investigating who at the tax-collection agency was responsible for targeting conservative groups for extra scrutiny. As Congress kicked off the first of several
Published 18 May, 2013 12:00am
France to buy: US Reaper drones for Mali

France to buy: US Reaper drones for Mali

France will buy two medium-altitude Reaper drones from the United States air force to back up its operations against Islamists in Mali, the Air et Cosmos specialist magazine reported on Friday. It said on its online edition that an agreement had been reac
Published 18 May, 2013 12:00am
At least 20 killed when mine collapses in eastern Congo

At least 20 killed when mine collapses in eastern Congo

At least 20 people were killed when a mine collapsed in mineral-rich but conflict-plagued eastern Democratic Republic of Congo following heavy rains, the government said on Friday. The accident occurred on Thursday at the mine near the village of Rubaye i
Published 18 May, 2013 12:00am
Chinese, Indian airlines face EU pollution fines

Chinese, Indian airlines face EU pollution fines

Eight Chinese and two Indian airlines face fines of up to several million euros for not paying for their greenhouse gas emissions during flights within the bloc, the European Commission said on Friday. It said member states could fine the firms, among the
Published 18 May, 2013 12:00am
Saudi Arabia says hackers sabotage government websites

Saudi Arabia says hackers sabotage government websites

Several government websites in Saudi Arabia were sabotaged in a series of heavy cyber attacks from abroad in recent days, disabling them briefly until the attacks were repelled, the government said. An investigation traced the "co-ordinated and simultaneo
Published 18 May, 2013 12:00am
Mine union threatens to bring South Africa to 'standstill'

Mine union threatens to bring South Africa to 'standstill'

The leader of South Africa's biggest platinum mining union threatened on Friday to bring Africa's No 1 economy "to a standstill" and demanded a meeting with President Jacob Zuma, ramping up the rhetoric in an 18-month labour crisis. Joseph Mathunjwa, head
Published 18 May, 2013 12:00am
Twin bombs kill nine in Afghanistan

Twin bombs kill nine in Afghanistan

Two car bombs exploded Friday in a sprawling housing development in southern Afghanistan linked to the family of President Hamid Karzai, killing at least nine people and wounding more than 60. The twin blasts occurred minutes apart in Aino Mina, an upmark
Published 18 May, 2013 12:00am
Mandela did not want daughters to manage his funds: lawyer

Mandela did not want daughters to manage his funds: lawyer

Nelson Mandela did not want his daughters to be involved in his financial affairs, one of his lawyers has claimed in court papers linked to a legal fight over his assets. "Mr Mandela made it clear to (daughters) Makaziwe and Zenani that he did not want th
Published 18 May, 2013 12:00am
Greek parliament ejects neo-Nazi MP as 'Heil Hitler' shouts heard

Greek parliament ejects neo-Nazi MP as 'Heil Hitler' shouts heard

Greece's parliament on Friday ejected a neo-Nazi lawmaker and shouts of 'Heil Hitler' were heard in the chamber in the latest incident involving the aggressive Golden Dawn far-right party. Golden Dawn MP Panagiotis Iliopoulos was ordered out by the acting
Published 18 May, 2013 12:00am
Mexican court tosses $2.7 billion penalty in Yahoo case

Mexican court tosses $2.7 billion penalty in Yahoo case

Yahoo! announced on Thursday that a Mexican appeals court tossed out a $2.7 billion dollar damages award in a breach of contract lawsuit. "The appellate decision overturned all monetary awards against Yahoo! Inc and reduced the monetary award against Yaho
Published 18 May, 2013 12:00am
Namibia declares state of emergency as drought bites

Namibia declares state of emergency as drought bites

Namibia's president declared a state of emergency for the whole of the desert-fringed country on Friday, due to a severe drought. "Namibia has been badly affected by drought due to poor rains," said Hifikepunye Pohamba announced at the State House. "Our p
Published 18 May, 2013 12:00am
France opposes Syria conference if Iran to attend

France opposes Syria conference if Iran to attend

France spelled out on Friday that it would oppose a peace conference for Syria if Bashar al-Assad's regional ally Iran is invited, clouding the prospect for a US-Russian initiative to end the two-year-old war. No date has yet been agreed for the internati
Published 18 May, 2013 12:00am
Air strikes, dozens dead in Nigeria

Air strikes, dozens dead in Nigeria

Nigeria's military on Friday attacked Boko Haram Islamist strongholds across the north-east, launching air strikes on insurgent camps, with dozens of militants killed in the fighting, the military said. Several thousand soldiers have spread across three n
Published 18 May, 2013 12:00am
Ahmadinejad to join Thai 'water summit'

Ahmadinejad to join Thai 'water summit'

Iran's firebrand President Mahmoud Ahmadinejad will address a forum on water security in Thailand next week, an embassy official said on Friday, just weeks before he stands down from the post. His scheduled appearance in the northern Thai city of Chiang M
Published 18 May, 2013 12:00am
China woman sentenced to death for investment scam

China woman sentenced to death for investment scam

A businesswoman in China has been sentenced to death for defrauding her clients of around $70 million in an investment scam, state media reported Friday as authorities crack down on illegal banking. Lin Haiyan, 39, from the eastern city of Wenzhou, a free
Published 18 May, 2013 12:00am
Jewels stolen in Cannes, Chopard says not for stars

Jewels stolen in Cannes, Chopard says not for stars

Chopard jewellery worth $1.4 million intended to adorn movie stars at the Cannes film festival has been stolen, a police source said on Friday, but the company said the value had been exaggerated and the items were not for actresses to use. According to t
Published 18 May, 2013 12:00am
Women cannot stand for Iran president: cleric

Women cannot stand for Iran president: cleric

Women can not contest Iran's June 14 presidential election, a member of the Islamic state's electoral watchdog said in media reports on Friday, dashing the hopes of some 30 female candidates. "The law prohibits women from being president," said hard-line
Published 18 May, 2013 12:00am
Top Spain banker in jail pending bail in crisis probe

Top Spain banker in jail pending bail in crisis probe

The former head of Spanish bank Caja Madrid became the first top banker to be held in jail over alleged mismanagement in the financial crisis, a court said on Friday. A court sent Miguel Blesa, 65, to a Madrid jail and said he must pay 2.5 million euros (
Published 18 May, 2013 12:00am
Russian security services name CIA Moscow chief

Russian security services name CIA Moscow chief

Russia's security services openly named the US intelligence agency's station chief in Moscow to media on Friday in a rare breach of protocol that followed their capture of an alleged CIA agent who was working undercover at the US embassy. Russia announced
Published 18 May, 2013 12:00am
US authorities seize accounts of major Bitcoin operator

US authorities seize accounts of major Bitcoin operator

US authorities have seized two accounts linked to a major operator in the booming Bitcoin digital currency market, Tokyo-based exchange Mt. Gox. The move may prevent the firm from facilitating the purchase and sale of Bitcoins in US dollars at a time when
Published 18 May, 2013 12:00am
Lahore's student develops 'Rush Hour Controller' software

Lahore's student develops 'Rush Hour Controller' software

Software developed by a 9th class student from Lahore has won silver medal in the e-biko International Project Olympiad held recently in Ankara, Turkey. Muhammad Abdullah Abid son of Muhammad Ismail Abid, a student of PakTurk School Lahore developed softw
Published 18 May, 2013 12:00am
Application deadline extended

Application deadline extended

The last date of submitting the application forms for getting admissions to 1-Year Associate Degree in Education (ADE) for In-service Teacher (Evening Programme) has been extended up to May 31, 2013.
Published 18 May, 2013 12:00am
Police arrest 12 target killers

Police arrest 12 target killers

Police have arrested 12 dangerous target killers for involvement in bank robberies and killings of police officials in Gujranwala. Gujranwala police conducted several raids in the city and managed to capture 12 notorious and dangerous culprits including t
Published 18 May, 2013 12:00am
Re-polling in Karachi key to democracy's survival: JI

Re-polling in Karachi key to democracy's survival: JI

Jamaat-e-Islami (JI) on Friday linked the survival of democracy with free, fair and transparent re-elections in Karachi and Hyderabad, which Pakistan army should supervise. Spearheading the sit-in protest near the Mazar-e-Quaid at Numaish Chowrangi on MA
Published 18 May, 2013 12:00am
NA-208 Jacobabad: Soomro demands verification through thumbprint

NA-208 Jacobabad: Soomro demands verification through thumbprint

Ilahi Bux Soomro, former Speaker National Assembly and PML-N's candidate on NA-208 Jacobabad, has demanded verification of votes through thumbprint. He accused PPPP's Aijaz Jakhrani of rigging and kidnapping his polling agents on gun point during the poll
Published 18 May, 2013 12:00am
Jimmy urges projection of soft image of Pakistan

Jimmy urges projection of soft image of Pakistan

Prominent artist, social crusader and peace activist Jimmy Engineer has stressed dire need for projecting soft, positive, moderate and progressive image of Pakistan and its people in every possible manner before the comity of nations.
Published 18 May, 2013 12:00am
SAI concerned at 12-hour loadshedding in industrial areas

SAI concerned at 12-hour loadshedding in industrial areas

SITE Association of Industry has expressed serious concerns over the announcement of 12 hours load shedding by KESC, in two spells from 12:30 pm to 6:00 pm and 11:00 pm to 5:00 am, in the industrial areas of the city. It says that previously KESC started
Published 18 May, 2013 12:00am
Bilour meets Nawaz

Bilour meets Nawaz

Awami National party (ANP) senior leader and former railways minister Ghulam Ahmed Bilour met the PML-N President Nawaz Sharif and felicitated him over the PML-N's victory in May 11 general elections. During the meeting, views were also exchanged over the
Published 18 May, 2013 12:00am
Shahbaz slams caretaker Prime Minister

Shahbaz slams caretaker Prime Minister

Expressing reservations over the acts of caretaker Prime Minister Mir Hazar Khan Khoso, former Punjab Chief Minister and the PML-N senior leader Shahbaz Sharif accused Khoso of running state affairs at the whims of President Asif Ali Zardari. "I would req
Published 18 May, 2013 12:00am
Shura Hamdard felicitates ECP for holding elections

Shura Hamdard felicitates ECP for holding elections

Shura Hamdard felicitated the Election Commission of Pakistan (ECP) on holding successful elections and appreciates the voters for their mass participation in the elections. Speakers at a meeting of Shura Hamdard Karachi chapter felicitated the ECP on hol
Published 18 May, 2013 12:00am
Eight more killed in Karachi

Eight more killed in Karachi

At least eight people were killed in different incidents of violence in the city on Friday, police and rescue source said. In first incident a man was gunned down near Sheesh Mahal stop in Malir in the limits of Saudabad police station. The deceased was i
Published 18 May, 2013 12:00am
Imran may be discharged next week

Imran may be discharged next week

Pakistan Tehreek-e-Insaf Chairman Imran Khan, who continues to recover from the injuries he sustained as a result of his accident last week, is likely to be discharged from hospital by mid of next week. According to Shaukat Khanum Memorial Cancer Hospital
Published 18 May, 2013 12:00am
Import of animals: LHC tells ministry to submit details of licences

Import of animals: LHC tells ministry to submit details of licences

the Lahore High Court Green Bench here Friday directed ministry of climate change to submit details of the licences issued during the last five years for the import of animals. The bench also issued notices to PML-N through its secretary general and summo
Published 18 May, 2013 12:00am
Cotton futures slip on producer hedging, weaker commodities

Cotton futures slip on producer hedging, weaker commodities

Cotton futures slipped on Thursday in light trading volume, under pressure from producer selling, weakening commodity markets and US weekly export data seen as mixed, dealers said. The most-active July cotton contract on ICE Futures US fell 0.42 cent, or
Published 18 May, 2013 12:00am
Shanghai copper up

Shanghai copper up

The most-traded September copper contract on the Shanghai Futures Exchange closed up 1.8 percent at 52,980 yuan ($8,600) a tonne on Friday after falling for the past three sessions. China's copper imports dropped 7.4 percent from the previous month to 295
Published 18 May, 2013 12:00am
Copper stays higher

Copper stays higher

Copper rose for a second day on Friday, supported by tentative signs of improved metals demand in top consumer China, but gains were capped by a stronger dollar and persistent worries about Chinese economic growth. Data on Friday showed that copper in war
Published 18 May, 2013 12:00am
Oil keeps rising

Oil keeps rising

Oil climbed for a third straight session on Friday, supported by a raft of strong economic data from top oil consumer the United States that also boosted US equities, although a strong dollar limited gains in oil prices. The Conference Board's Leading Eco
Published 18 May, 2013 12:00am
Tokyo rubber futures rise

Tokyo rubber futures rise

Benchmark Tokyo rubber futures rose in slow trade on Friday following a rally in Shanghai, but were still down 2 percent on the week due to a halt in the yen's decline and caution over a rise in seasonal supply in coming months. Prices in the Shanghai rub
Published 18 May, 2013 12:00am
Corn futures slip

Corn futures slip

US corn futures fell 1.4 percent on Thursday on optimism over seeding progress and prospects for the new crop, while soyabeans rose on tight US supplies, traders said. Wheat fell on technical selling and seasonal pressure as the US harvest neared, with th
Published 18 May, 2013 12:00am
Palm oil up one percent

Palm oil up one percent

Malaysian palm oil futures rose on Friday, gaining for a second straight week, as investors pinned their hopes on a recovery in exports in the second half of May to help ease stocks. Malaysian palm oil shipments for the first half of the month fell as muc
Published 18 May, 2013 12:00am
Raw sugar soars

Raw sugar soars

ICE raw sugar futures edged up on Friday, finding marginal support from short-covering after prices touched an almost three-year low during the previous session as the cane harvest in top exporter Brazil ramped up, dealers said. ICE arabica coffee futures
Published 18 May, 2013 12:00am
Gold slides in New York

Gold slides in New York

Gold dropped to a four-week low on Thursday, as renewed liquidation in gold-exchange traded funds and its recent drop below the $1,400-per-ounce level spooked bullion investors, prompting them to favour other assets. Traders said the fall below $1,400 in
Published 18 May, 2013 12:00am
Gold falls further in Asia

Gold falls further in Asia

Gold fell on Friday for a seventh straight session, in its longest losing streak since March 2009, as the dollar strengthened and investors cut exposure to the precious metal, fearing further drops and choosing equities instead. Gold has lost nearly 6 per
Published 18 May, 2013 12:00am
Gold tumbles in Europe

Gold tumbles in Europe

Gold fell for a seventh straight session on Friday, its longest losing streak in four years, as speculation that the Federal Reserve may soon rein in monetary easing lifted the dollar. Dollar strength stunted a brief rally in gold prices late on Thursday
Published 18 May, 2013 12:00am
US MIDDAY: corn rises

US MIDDAY: corn rises

Chicago Board of Trade corn futures rose nearly 2 percent early on Friday, reversing three days of declines on strong cash markets as farmers focused on planting their 2013 crop rather than selling in the cash market, traders and analysts said.
Published 18 May, 2013 12:00am
US MIDDAY: gold hits one-month low

US MIDDAY: gold hits one-month low

Gold fell for a seventh straight session early on Friday, its longest losing streak in four years, as the dollar rose to the highest since 2008 after some Federal Reserve officials said the central bank should end its stimulus for the US economy. At 2:30
Published 18 May, 2013 12:00am
Pildat survey

Pildat survey

Apropos 'Public Verdict on Democracy: 2008-2013' by Pildat-Gallup, there is a clear split between the rural and the urban members of the jury. Compared to their rural counterparts, the urban members were much more critical of the process of democracy duri
Published 18 May, 2013 12:00am
Post-poll protests, ethnic tension weigh on Malaysia

Post-poll protests, ethnic tension weigh on Malaysia

Post-election protests and rising ethnic tensions have plagued Malaysia following a highly divisive poll this month, raising fears the country could plunge into instability. Opposition leader Anwar Ibrahim has led five rallies in the capital and nearby st
Published 18 May, 2013 12:00am
Prospects of E-voting

Prospects of E-voting

Elections 2013 turned out to be a landmark in the history of our country, having witnessed the highest ever voter turnout. We saw women, old, young and even infirm citizens braving the rigours of waiting in lines to cast their vote. The people of Pakistan
Published 18 May, 2013 12:00am
The concept of self-discipline

The concept of self-discipline

Democracy calls for higher levels of self-discipline. The technology is imbibed in higher technological elements of personality. As humans, we talk of technology transfers and all those modern words which have no meaning in a society that is at best primo
Published 18 May, 2013 12:00am
Battlefield NA-250

Battlefield NA-250

The rigging at polls is part of the elections in most democracies, at some places less and at others more. So it's no great surprise that even when at the end of the day, the May 11 general election was the fairest in Pakistan it was also the most content
Published 18 May, 2013 12:00am
BoP woes: Do home remittances offer solution?

BoP woes: Do home remittances offer solution?

Creation of Pakistan Remittance Initiative (PRI) by the then Finance Minister, Shaukat Tarin, and the then Federal Minister of Overseas Pakistanis, Dr Farooq Sattar, was the best initiative of the last government in the realm of foreign exchange. Housing
Published 18 May, 2013 12:00am
Telecom sector: minister stresses need to overcome challenges

Telecom sector: minister stresses need to overcome challenges

"Telecom is the most flourishing sector in Pakistan but there are certain challenges as well which need to be overcome for better and secure future of the industry," said caretaker Federal Minister for Information Technology (IT) Dr Sania Nishtar.
Published 18 May, 2013 12:00am
NAB recovers Rs 25 billion in 2012: report

NAB recovers Rs 25 billion in 2012: report

The National Accountability Bureau (NAB) received 7,565 complaints, completed 392 inquiries, filed 95 references with the accountability courts and recovered Rs 25 billion in 2012. According to the NAB annual report released on Friday, the bureau authoris
Published 18 May, 2013 12:00am
Further shuffle in bureaucracy termed unnecessary action

Further shuffle in bureaucracy termed unnecessary action

Senior bureaucrats regard any further reshuffling within their ranks after the general elections "unnecessary" and beyond the mandate of the caretaker government, an official of the Establishment Division told Business Recorder on Friday.
Published 18 May, 2013 12:00am
Delhi allows pro-India Kashmiri leaders to visit Pakistan

Delhi allows pro-India Kashmiri leaders to visit Pakistan

India has approved a proposal to send a delegation comprising pro-India members of so-called Kashmir Legislature to Pakistan as a goodwill gesture. Media reports say that a few months back the presiding officers of both the so-called houses, Chairman of L
Published 18 May, 2013 12:00am
RPP scam probe: Ashraf appears before NAB investigators

RPP scam probe: Ashraf appears before NAB investigators

The former Prime Minister Raja Pervez Ashraf on Friday appeared before National Accountability Bureau (NAB's) investigators probing Rs 22 billion Rental Power Project (RPP) scam and submitted a written statement regarding the case. "Raja Pervez Ashraf app
Published 18 May, 2013 12:00am
Chief minister Sindh calls on Prime Minister

Chief minister Sindh calls on Prime Minister

Chief Minister Sindh Zahid Qurban Alavi called on Prime Minister Mir Hazar Khan Khoso at the Prime Minister's House here on Friday. The Chief Minister Sindh briefed him about the arrangements made by the provincial government to maintain law and order dur
Published 18 May, 2013 12:00am
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