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Print - 2013-05-25
BRIDGE NOTES: Safety first

BRIDGE NOTES: Safety first

Bridge has a few well known maxims to cater to some typically common situations that occur during play. Of course this is a game where nothing fixed can be sacrosanct all the time. The probability of cards distributed in different formations can only be m
Published 25 May, 2013 12:00am
Massive FDI expected in energy, telecom sector?

Massive FDI expected in energy, telecom sector?

Massive Foreign Direct Investment (FDI) is expected in energy and telecommunication sector of the country after transition of power to the newly elected government of Pakistan Muslim League -Nawaz (PML-N) from the caretakers. An official of the Board of I
Published 25 May, 2013 12:00am
ART FACTS: Strong aroma of romance

ART FACTS: Strong aroma of romance

The miniature paintings are the most authentic story-tellers of all times but Khalid Saeed Butt has evolved an innovative modern style of miniature painting over three decades period. He has obtained a new style from strictly traditional concepts of minia
Published 25 May, 2013 12:00am
Massive FDI expected in energy, telecom sector?

Massive FDI expected in energy, telecom sector?

Massive Foreign Direct Investment (FDI) is expected in energy and telecommunication sector of the country after transition of power to the newly elected government of Pakistan Muslim League -Nawaz (PML-N) from the caretakers. An official of the Board of I
Published 25 May, 2013 12:00am
KARACHI CHRONICLE: Power crisis won't now?

KARACHI CHRONICLE: Power crisis won't now?

The PTI with its single seat victory in Sindh is acting just like the ANP with its two seat victory did in the 2008 general elections. It thinks it has conquered the entire political turf in Karachi. The MQM was and is the strongest party in Karachi but i
Published 25 May, 2013 12:00am
Massive FDI expected in energy, telecom sector?

Massive FDI expected in energy, telecom sector?

Massive Foreign Direct Investment (FDI) is expected in energy and telecommunication sector of the country after transition of power to the newly elected government of Pakistan Muslim League -Nawaz (PML-N) from the caretakers. An official of the Board of I
Published 25 May, 2013 12:00am
Indian gold futures jump

Indian gold futures jump

Indian gold futures jumped more than a percent on Thursday aided by a weaker rupee and firm global trends, while premiums on physical gold eased due to some supply from bullion importing agencies. The Reserve Bank of India restricted banks from consignmen
Published 25 May, 2013 12:00am
Policeman, four gunmen killed in Kabul Taliban attack

Policeman, four gunmen killed in Kabul Taliban attack

Explosions rocked central Kabul for five hours on Friday after Taliban gunmen launched a major suicide and gun attack centred on a compound of the International Organisation for Migration (IOM). One police officer was killed and four militants were shot d
Published 25 May, 2013 12:00am
CBOT wheat futures rise on short-covering

CBOT wheat futures rise on short-covering

Chicago Board of Trade wheat futures rose 2.1 percent on Thursday, hitting their highest price in more than a week on short-covering after the US government released better-than-expected export data. The benchmark CBOT July contract briefly topped the 50-
Published 25 May, 2013 12:00am
Policeman, four gunmen killed in Kabul Taliban attack

Policeman, four gunmen killed in Kabul Taliban attack

Explosions rocked central Kabul for five hours on Friday after Taliban gunmen launched a major suicide and gun attack centred on a compound of the International Organisation for Migration (IOM). One police officer was killed and four militants were shot d
Published 25 May, 2013 12:00am
US Midwest soya bids soften

US Midwest soya bids soften

Spot soyabean basis bids softened in the US Midwest on Thursday, reflecting continued movement of old-crop soyabeans from producers and elevators, dealers said. Corn bids were steady to weak. Some soyabean processors rolled their bids to post against Chic
Published 25 May, 2013 12:00am
Over 1000cc vehicles: ban on CNG use withdrawn

Over 1000cc vehicles: ban on CNG use withdrawn

The caretaker government has withdrawn its decision to ban use of Compressed Natural Gas (CNG) in over 1,000cc vehicles. The Ministry of Petroleum and Natural Resources has issued a notification in this connection here on Friday, saying that the caretaker
Published 25 May, 2013 12:00am
HRW wheat bids steady

HRW wheat bids steady

Cash bids for hard red winter wheat held steady in the southern US Plains on Thursday while track bids firmed at the Texas Gulf due to a lack of grain movement from the country, dealers said. Harvest of HRW wheat was under way in Texas but still a few wee
Published 25 May, 2013 12:00am
Over 1000cc vehicles: ban on CNG use withdrawn

Over 1000cc vehicles: ban on CNG use withdrawn

The caretaker government has withdrawn its decision to ban use of Compressed Natural Gas (CNG) in over 1,000cc vehicles. The Ministry of Petroleum and Natural Resources has issued a notification in this connection here on Friday, saying that the caretaker
Published 25 May, 2013 12:00am
Cool weather delays Russia's grain sowing

Cool weather delays Russia's grain sowing

Russia's grain sowing campaign fell behind schedule due to cool weather in some regions, with concern focused on the sowing of wheat, the country's key export cereal, data from the Agriculture ministry showed on Thursday. Russia, historically the world's
Published 25 May, 2013 12:00am
Over 1000cc vehicles: ban on CNG use withdrawn

Over 1000cc vehicles: ban on CNG use withdrawn

The caretaker government has withdrawn its decision to ban use of Compressed Natural Gas (CNG) in over 1,000cc vehicles. The Ministry of Petroleum and Natural Resources has issued a notification in this connection here on Friday, saying that the caretaker
Published 25 May, 2013 12:00am
Indian sugar futures extend losses

Indian sugar futures extend losses

Indian sugar futures extended losses on Thursday on profit-taking driven by ample supplies and expectations that a sharp drop in overseas prices may lead to higher imports. An improvement in demand from bulk buyers due to the summer season and concerns ov
Published 25 May, 2013 12:00am
IP project, all other agreements to be pursued: FO

IP project, all other agreements to be pursued: FO

Pakistan''s foreign policy will not change with Pakistan Muslim League-Nawaz (PML-N) coming into power and all agreements signed by the former government, including Iran-Pakistan gas pipeline project, will be pursued, Foreign Secretary Jalil Abbas Jilani
Published 25 May, 2013 12:00am
European wheat futures rise

European wheat futures rise

European wheat futures rose on Thursday, a third day of recovery from an 11-month low, following a jump in Chicago futures and a series of tenders from North Africa, but a stronger euro moderated gains. November milling wheat on the benchmark Paris future
Published 25 May, 2013 12:00am
IP project, all other agreements to be pursued: FO

IP project, all other agreements to be pursued: FO

Pakistan's foreign policy will not change with Pakistan Muslim League-Nawaz (PML-N) coming into power and all agreements signed by the former government, including Iran-Pakistan gas pipeline project, will be pursued, Foreign Secretary Jalil Abbas Jilani d
Published 25 May, 2013 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 128,161 tonnes of cargo comprising 93,968 tonnes of import cargo and 34,193 tonnes of export cargo including 5,408 loaded and empty containers during the last 24 hours ended at 0700 hours on Friday. The total import cargo of 93,96
Published 25 May, 2013 12:00am
IP project, all other agreements to be pursued: FO

IP project, all other agreements to be pursued: FO

Pakistan's foreign policy will not change with Pakistan Muslim League-Nawaz (PML-N) coming into power and all agreements signed by the former government, including Iran-Pakistan gas pipeline project, will be pursued, Foreign Secretary Jalil Abbas Jilani d
Published 25 May, 2013 12:00am
Modest trade on cotton market

Modest trade on cotton market

Modest trading was seen on the cotton market on Friday as some needy mills took interest in buying to meet the urgent requirements, dealers said. The official spot rate was unchanged at Rs 6,400, while in the ready business, 2,000 bales of cotton changed
Published 25 May, 2013 12:00am
Rates inert on grain market

Rates inert on grain market

Prices showed no change on the wholesale grain and oilseeds market on Friday, wholesale Merchant Group said in its press release.
Published 25 May, 2013 12:00am
Dry fruits end up on Jodia Bazaar

Dry fruits end up on Jodia Bazaar

The trading in dry fruits ended up on Jodia Bazaar here on Friday. The following changes were noted.
Published 25 May, 2013 12:00am
Brazil bank lending slows, sign of uneven economy

Brazil bank lending slows, sign of uneven economy

Growth in Brazil's bank lending slowed in April, the latest sign that an expansion in Latin America's largest economy remains uneven in the face of faster inflation and a robust job market. Outstanding bank loans in Brazil totalled a record 2.45 trillion
Published 25 May, 2013 12:00am
Ranbaxy pumps in $300 million to improve safety

Ranbaxy pumps in $300 million to improve safety

Indian generic giant Ranbaxy said Wednesday it has spent over $300 million to overhaul its operations and ensure no repeat of drug safety violations that led to a multi-million dollar US fine. Last week, New Delhi-based Ranbaxy pleaded guilty in the Unite
Published 25 May, 2013 12:00am
Spain, Germany team up to fight youth employment

Spain, Germany team up to fight youth employment

Germany signed up Tuesday to provide vocational training and jobs for young Spaniards starved of opportunities in their crisis-hit home country, ministers said. "Each year nearly 5,000 young Spaniards will be able to benefit from vocational opportunities
Published 25 May, 2013 12:00am
ECB seeks new tools while Fed toys with exit

ECB seeks new tools while Fed toys with exit

The European Central Bank is looking into expanding its range of policy tools, while the US central bank is mulling scaling back its support measures, highlighting the contrasting fortunes between the world's two biggest economic blocs. ECB Executive Boar
Published 25 May, 2013 12:00am
Raiffeisen CEO quits over offshore deals

Raiffeisen CEO quits over offshore deals

Raiffeisen Bank International Chief Executive Herbert Stepic resigned on Friday in what he called an effort to spare the bank he built into an eastern European powerhouse from damaging publicity over his personal property deals. Stepic, 66, again denied w
Published 25 May, 2013 12:00am
BoJ Kuroda vows to calm JGBs, guide economy to recovery

BoJ Kuroda vows to calm JGBs, guide economy to recovery

Bank of Japan Governor Haruhiko Kuroda on Friday expressed confidence the central bank can stem bond market volatility with flexible market operations and engineer a steady recovery in the world's third-largest economy. Kuroda said the central bank's aggr
Published 25 May, 2013 12:00am
BoJ Kuroda vows to calm JGBs, guide economy to recovery

BoJ Kuroda vows to calm JGBs, guide economy to recovery

Bank of Japan Governor Haruhiko Kuroda on Friday expressed confidence the central bank can stem bond market volatility with flexible market operations and engineer a steady recovery in the world's third-largest economy. Kuroda said the central bank's aggr
Published 25 May, 2013 12:00am
Fed's Bullard wants inflation pickup before tapering QE

Fed's Bullard wants inflation pickup before tapering QE

A top Federal Reserve official said on Friday US inflation would have to pick up before he voted to scale back monetary policy stimulus and that this was unlikely to happen in the coming month. "Before I would be in favour of tapering I would like to see
Published 25 May, 2013 12:00am
Germany must spread cost of energy shift fairly: IEA

Germany must spread cost of energy shift fairly: IEA

Germany must shield its consumers from paying too much of the cost of its ambitious switch from nuclear power and fossil fuels towards renewable energy, the International Energy Agency said on Friday. The IEA also said that Germany, with Europe's biggest
Published 25 May, 2013 12:00am
India's Jet Airways shareholders approve Etihad deal

India's Jet Airways shareholders approve Etihad deal

Shareholders of India's Jet Airways on Friday approved a deal in which Abu Dhabi-based airline Etihad will take a 24 percent stake in the private carrier, media reports said. Jet shareholders approved the proposed issue of shares on a preferential basis t
Published 25 May, 2013 12:00am
India's Jet Airways shareholders approve Etihad deal

India's Jet Airways shareholders approve Etihad deal

Shareholders of India's Jet Airways on Friday approved a deal in which Abu Dhabi-based airline Etihad will take a 24 percent stake in the private carrier, media reports said. Jet shareholders approved the proposed issue of shares on a preferential basis t
Published 25 May, 2013 12:00am
Under-pressure Slovenia adopts fiscal 'golden rule'

Under-pressure Slovenia adopts fiscal 'golden rule'

Slovenia's parliament on Friday adopted a new balanced budget law and made calling referendums more difficult, in an attempt to restore investor confidence in the embattled eurozone country. In line with a principle adopted in most European Union countrie
Published 25 May, 2013 12:00am
'Furlough Friday' hits US federal employees

'Furlough Friday' hits US federal employees

The first day of US government furloughs imposed by a budget crunch saw more than 100,000 federal workers ordered to stay home Friday, including those at the scandal-plagued IRS. The largest non-weather-related US government closure in years saw nearly al
Published 25 May, 2013 12:00am
US durable goods orders point to factory resilience

US durable goods orders point to factory resilience

Orders for long-lasting US manufactured goods rose more than expected in April, a hopeful sign that a sharp slowdown in factory output could soon run its course. New orders for durable goods, which range from toasters to aircraft, increased 3.3 percent la
Published 25 May, 2013 12:00am
Chinese Prime Minister singles out Germany for EU visit

Chinese Prime Minister singles out Germany for EU visit

Chinese Premier Li Keqiang will meet German Chancellor Angela Merkel on Sunday as the two export powerhouses seek to further strengthen economic ties amid brewing trade spats between Beijing and the EU. Germany is the only stop among the EU's 27 member st
Published 25 May, 2013 12:00am
HSBC Chairman urges acceleration of bank reform

HSBC Chairman urges acceleration of bank reform

HSBC's Chairman Douglas Flint called for an acceleration in the speed of reform within the industry as the bank was criticised by shareholders for compliance failings and accusations it aided tax avoidance. Flint told around 400 shareholders at the bank's
Published 25 May, 2013 12:00am
Russia hires J.P Morgan to avoid ratings downgrade

Russia hires J.P Morgan to avoid ratings downgrade

Russia's finance ministry said on Friday it had hired the US banking major J.P. Morgan as a consultant for helping improve its image with the world's three main ratings agencies amid worries of an imminent downgrade. The announcement came days after Deput
Published 25 May, 2013 12:00am
German outlook brightens as businesses become more upbeat

German outlook brightens as businesses become more upbeat

German business morale improved far more than expected in May, rebounding after two months of falls and suggesting Europe's largest economy is slowly picking up speed after a sluggish first quarter. The Munich-based Ifo think tank said on Friday its busin
Published 25 May, 2013 12:00am
Indian shares spring back

Indian shares spring back

Indian shares snapped a four-day losing streak to edge higher on Friday, rebounding as Tata Steel surged after its March-quarter operating profit beat analyst estimates and as recently beaten-down bluechips such as Larsen & Toubro recovered. Sentiment imp
Published 25 May, 2013 12:00am
Nikkei rises in turbulent trade

Nikkei rises in turbulent trade

The Nikkei share average rose in turbulent trade on Friday following the previous day's 7.3 percent dive, but the extreme volatility and worries that Japan's bull-run may be running out of steam sidelined many investors. The Nikkei rose 0.9 percent to end
Published 25 May, 2013 12:00am
Friday's midday trade: stocks slip on stimulus uncertainty; P&G jumps

Friday's midday trade: stocks slip on stimulus uncertainty; P&G jumps

US stocks fell for a third day on Friday, putting indexes on track for their first negative week since mid-April, on lingering concern the US central bank may scale back its stimulus measures to support the economy. Still, losses were mild by midday, with
Published 25 May, 2013 12:00am
Wall Street sags; HP hits 52-week high

Wall Street sags; HP hits 52-week high

US stocks slipped on Thursday but finished sharply off their session lows as a rally in Hewlett-Packard's shares offset worries about weak Chinese manufacturing data and the prospects of the Federal Reserve reducing its monetary stimulus. Trading was chop
Published 25 May, 2013 12:00am
Australian shares fall

Australian shares fall

Australian shares reversed early gains to fall 1.6 percent as faltering banks and market volatility hit investor sentiment on Friday, sending the benchmark index tumbling further from one-month lows touched a day earlier. The S&P/ASX 200 index fell 79 poi
Published 25 May, 2013 12:00am
Treasury debt prices gain

Treasury debt prices gain

US Treasury debt prices rose on Thursday after the Treasury saw solid demand for new inflation-linked bonds, though benchmark yields held above 2 percent as traders worried about how high yields might rise whenever the US Federal Reserve decides to taper
Published 25 May, 2013 12:00am
Treasury debt prices gain

Treasury debt prices gain

US Treasury debt prices rose on Thursday after the Treasury saw solid demand for new inflation-linked bonds, though benchmark yields held above 2 percent as traders worried about how high yields might rise whenever the US Federal Reserve decides to taper
Published 25 May, 2013 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan stocks fell for a second day on Friday to a three-week closing low, joining other Asian bourses in declines, weighed down by financial shares. The main TAIEX index ended down 0.3 percent at 8,209.78 points, its lowest close since May 7. The banking
Published 25 May, 2013 12:00am
Hong Kong shares slide to four-week low, China up

Hong Kong shares slide to four-week low, China up

Hong Kong shares extended losses to fall to their lowest in almost a month on Friday with the property sector weak over concerns that China's economic recovery may be stalling. The Hang Seng Index slipped 0.2 percent to 22,618.7 points, the lowest level s
Published 25 May, 2013 12:00am
European shares post first weekly loss in a month

European shares post first weekly loss in a month

European shares fell on Friday, marking their first weekly loss in a month, led by financials on concern over earnings prospects in Asia and the potential scaling back of US monetary stimulus. The FTSEurofirst 300 closed down 3.36 points, or 0.3 percent,
Published 25 May, 2013 12:00am
Southeast Asian markets: Indonesia, Vietnam recover

Southeast Asian markets: Indonesia, Vietnam recover

Indonesian and Vietnamese shares rebounded from their previous session's steep falls, while most Southeast Asian markets were closed on Friday for a local holiday. Jakarta's Composite Index rose 0.66 percent to 5,155.09, boosted by a 2 percent jump in pro
Published 25 May, 2013 12:00am
Seoul shares soar

Seoul shares soar

Seoul shares rose 0.2 percent on Friday, after moving in and out of positive territory, helped by gains in insurers and banks. But rises were capped by ongoing concerns about reduced monetary stimulus in the United States and a slowdown in the Chinese eco
Published 25 May, 2013 12:00am
Pullback on FTSE deepens as HSBC declines

Pullback on FTSE deepens as HSBC declines

Britain's benchmark equity index, which had raced to its highest level in nearly 13 years this week, fell sharply for the second straight session on Friday as a decline at major bank HSBC hit the market. Some traders felt the pull-back could accelerate in
Published 25 May, 2013 12:00am
Yuan ends up

Yuan ends up

The central bank fixed a record high midpoint for the yuan on Friday despite the dollar's overnight rally, allowing the spot market to push it to a new high, which some traders said could signal a quickening pace of reforms for the currency regime. Spot y
Published 25 May, 2013 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened on Friday, falling 1.3 percent for the week, extending its losing streak to a third successive week, hurt by concerns about a possible pullback in global fund flows and the country's external deficit. The rupee found support from
Published 25 May, 2013 12:00am
Yen surges in Asia

Yen surges in Asia

The yen surged on Friday as volatility in Japanese shares after a 7.3 percent plunge the day before spooked yen-sellers, prompting a wholesale unwinding of bets to profit from the Bank of Japan's monetary easing. The yen edged near a two-week high on the
Published 25 May, 2013 12:00am
Euro gains versus dollar

Euro gains versus dollar

The euro rose against the dollar on Friday after a German business sentiment survey beat forecasts, suggesting Europe's largest economy is picking up and making further euro zone monetary easing less likely. After strong gains on Thursday, the yen remaine
Published 25 May, 2013 12:00am
Early trade in New York: dollar recoups losses

Early trade in New York: dollar recoups losses

The dollar rose against the euro on Friday, recovering from an early swoon after better-than-expected US durable goods data for April eased investor concerns about the US economy. The yen overall extended gains from the previous session, as weak equity ma
Published 25 May, 2013 12:00am
Dollar, euro slump versus yen in New York

Dollar, euro slump versus yen in New York

The dollar was on track for its biggest daily drop in more than five weeks against the yen on Thursday after a sharp slide in Japanese stocks and weak Chinese factory activity data prompted a rush for the safe-haven Japanese currency. The yen also rallied
Published 25 May, 2013 12:00am
Australian and New Zealand dollars down

Australian and New Zealand dollars down

The Australian and New Zealand dollars were battered against the yen on Friday, and nursed losses on their US counterpart as market volatility rattled investor confidence. The Antipodean currencies skidded around 1 percent on the day to 98.38 yen and 82.3
Published 25 May, 2013 12:00am
Most emerging currencies rebound

Most emerging currencies rebound

Most emerging currencies rebounded on Friday on pre-weekend short-covering in choppy trading, but investors hesitated to chase regional units due to shaky Japanese financial markets and expectations of a shift in US monetary policy. The Taiwan dollar rose
Published 25 May, 2013 12:00am
Sterling falls versus dollar

Sterling falls versus dollar

Sterling fell against the dollar on Friday, with disappointing economic data and prospects of more policy easing by the Bank of England leaving it vulnerable to further losses. While the US Federal Reserve hinted this week at a paring back of its current
Published 25 May, 2013 12:00am
British security services in spotlight after soldier murder

British security services in spotlight after soldier murder

Britain's security services faced questions on Friday over whether they could have done more to prevent the murder of a soldier hacked to death in a busy London street after it emerged that his suspected killers were known to intelligence officers. Suspec
Published 25 May, 2013 12:00am
EADS offers $2.0 billion sweetener for South Korea jet deal

EADS offers $2.0 billion sweetener for South Korea jet deal

European aerospace giant EADS has offered a $2.0 billion investment sweetener as it seeks to edge out US rivals for a contract to provide 60 advanced fighter planes to South Korea. The consortium announced in a statement Thursday it would pump the cash in
Published 25 May, 2013 12:00am
Sex assaults undermine trust in military: Obama

Sex assaults undermine trust in military: Obama

President Barack Obama said Friday that members of the military guilty of sexual assaults threatened to undermine the trust and discipline vital to the strength of the US military machine. Obama delivered the warning at a graduation ceremony at the US Nav
Published 25 May, 2013 12:00am
EU finds funds for popular student exchange scheme

EU finds funds for popular student exchange scheme

Famous Europeans from Nobel laureates to Olympic champions have fought to save it and now funding has finally been found to ensure that Erasmus, the student exchange programme that is one of the European Union's most successful initiatives, lives on.
Published 25 May, 2013 12:00am
Turkey bans alcohol advertising, curbs sales

Turkey bans alcohol advertising, curbs sales

Turkey banned alcohol advertising and tightened restrictions on its sale on Friday, drawing criticism from secular Turks as well as the country's brewing industry. The new law includes a ban on shops selling alcohol from 10pm to 6am, with fines of up to 5
Published 25 May, 2013 12:00am
Kerry says Israelis, Palestinians must make tough decisions

Kerry says Israelis, Palestinians must make tough decisions

Israeli and Palestinian leaders must decide soon on whether to revive long-dormant peace negotiations to end their decades-old conflict, US Secretary of State John Kerry said on Friday. Ending two days of meetings in the region, Kerry said he had "very pr
Published 25 May, 2013 12:00am
US Senate approves first India-born senior judge

US Senate approves first India-born senior judge

The Senate on Thursday unanimously approved Srikanth Srinivasan as the most senior US judge of South Asian descent, amid speculation that he may one day be tapped for the Supreme Court. Srinivasan, who was born in the northern Indian city of Chandigarh an
Published 25 May, 2013 12:00am
WikiLeaks releases transcript of critical US film

WikiLeaks releases transcript of critical US film

WikiLeaks has released an annotated version of a leaked transcript of a documentary in a bid to counter a film that takes a critical look at the anti-secrecy group and which opens on Friday. WikiLeaks said it had not participated in the making of "We Stea
Published 25 May, 2013 12:00am
US, Turkey, Qatar seek urgent UN rights debate on Syria

US, Turkey, Qatar seek urgent UN rights debate on Syria

The United States, Turkey and Qatar called Friday for an urgent debate on Syria at the UN's top human rights body next week, citing the escalating conflict and the regime's assault on the central town of Qusayr. "We request the Human Rights Council to hol
Published 25 May, 2013 12:00am
BA jet makes emergency landing after engine fire

BA jet makes emergency landing after engine fire

A British Airways plane with 80 people on board made an emergency landing at London's Heathrow airport on Friday after the right engine burst into flames shortly after take-off and the casing ripped away from the left. The British carrier, part of IAG, sa
Published 25 May, 2013 12:00am
Amnesty urges Malaysia to end post-election crackdown

Amnesty urges Malaysia to end post-election crackdown

Global rights group Amnesty International urged Malaysia Friday to end its "post-election crackdown" which has seen four critics arrested in the aftermath of the government's worst electoral result. The arrests made in the past week under the Sedition Act
Published 25 May, 2013 12:00am
Iran filmmaker gets standing ovation for secret film at Cannes

Iran filmmaker gets standing ovation for secret film at Cannes

An Iranian director who was jailed for anti-government propaganda in 2010 emerged at the Cannes film festival on Friday to premiere a new film about state oppression that he shot in secret in his home country. Mohammad Rasoulof was found guilty of "action
Published 25 May, 2013 12:00am
Japanese mayor apologises to 'comfort women'

Japanese mayor apologises to 'comfort women'

A Japanese politician on Friday apologised to women forcibly drafted into military brothels during World War II after his comments about them being a military necessity sparked outrage. Osaka mayor Toru Hashimoto issued the apology hours after he was due
Published 25 May, 2013 12:00am
North Korea says will take 'positive steps' for peace

North Korea says will take 'positive steps' for peace

A North Korean envoy told China's president on Friday that his reclusive country was willing to take "positive actions" to ensure peace and stability on the Korean peninsula, as China steps up diplomatic efforts to bring Pyongyang back to talks. But Choe
Published 25 May, 2013 12:00am
US bridge collapse sends cars, people into river

US bridge collapse sends cars, people into river

A highway bridge over a river in the north-western US state of Washington partially collapsed Thursday, sending cars and people plunging into the water below without causing any fatalities. Three people were fished out but there were no reports of serious
Published 25 May, 2013 12:00am
US casts doubt on credibility of Iranian election

US casts doubt on credibility of Iranian election

The United States on Friday called into question the credibility of Iran's presidential election next month, criticising the disqualification of candidates and accusing Tehran of disrupting Internet access. On a visit to Israel, US Secretary of State John
Published 25 May, 2013 12:00am
Iraq vows action against Kurdistan crude sales: deputy Prime Minister

Iraq vows action against Kurdistan crude sales: deputy Prime Minister

Iraq on Friday vowed to take legal action against companies to halt Kurdistan's crude oil sales to Turkey. "Any oil that is taken out of the country and payments not made to the Iraqi people through the central government is considered to be taking Iraq's
Published 25 May, 2013 12:00am
Massive Far East quake felt in Moscow, no casualties

Massive Far East quake felt in Moscow, no casualties

A massive undersea earthquake Friday in Russia's Far East prompted a tsunami warning and unleashed tremors across Russia including in Moscow around 7,000 kilometres away, but caused no casualties or damage. The US Geological Survey (USGS) estimated the qu
Published 25 May, 2013 12:00am
Serena soars a year on from Paris slump

Serena soars a year on from Paris slump

Roland Garros and the French Open have not always been kind to Serena Williams, but her shock first round loss here last year may have been one of the best things that has happened to her. The American crashed out to unfancied Virgine Razzano of France an
Published 25 May, 2013 12:00am
Europa League winners into Champions League

Europa League winners into Champions League

The winners of the Europa League will automatically qualify for a place in the lucrative Champions League from 2015, UEFA announced on Friday. UEFA president Michel Platini said the winner of the 2014-15 Europa League would play in the 2015-16 Champions L
Published 25 May, 2013 12:00am
Djokovic bans 'Nadal semi-final' talk

Djokovic bans 'Nadal semi-final' talk

Novak Djokovic and Rafael Nadal may be on course for potentially the most talked-about clash at the French Open, but the world number one Serb on Friday gave the 'N' word the silent treatment. Djokovic, the top seed, and Nadal, the third-seeded, seven-tim
Published 25 May, 2013 12:00am
I'd rather win tour events, not just Slams: Nadal

I'd rather win tour events, not just Slams: Nadal

Rafael Nadal makes his long-awaited return to Grand Slam tennis, poised to become the first man to win eight French Opens, but insisting he'd rather win a string of tour events than rack up the majors. The Spaniard, who goes into Roland Garros having alre
Published 25 May, 2013 12:00am
First day in England-New Zealand Test washed out

First day in England-New Zealand Test washed out

Rain meant there was no play on the first day of the second and final Test between England and New Zealand at Headingley on Friday. Heavy overnight and early morning rain meant the square was still fully covered when the captains should have been tossing
Published 25 May, 2013 12:00am
Pakistan nominated as host of Squash World Cup 2015

Pakistan nominated as host of Squash World Cup 2015

Asian Squash Federation has nominated Pakistan as the sole contender for hosting Squash World Cup, 2015. This recommendation is a testimony of the efforts of Pakistan Squash Federation to convince International Squash Bodies to stage International events
Published 25 May, 2013 12:00am
Euro final showcases Bundesliga's rise

Euro final showcases Bundesliga's rise

Germany's Bundesliga will be on show to the world in Saturday's Champions League final when Bayern Munich take on Borussia Dortmund in the first all-German European cup finale. Wembley is set to be bathed in black, red and gold for the day and football fa
Published 25 May, 2013 12:00am
Four-goal comeback lifts Man City over Chelsea

Four-goal comeback lifts Man City over Chelsea

Micah Richards scored in the 90th minute to complete a stunning comeback from a three-goal deficit and give Manchester City a 4-3 victory over Chelsea in an exhibition thriller Thursday. The English Premier League sides, both bound for next year's Europea
Published 25 May, 2013 12:00am
Police refuse to confirm they are investigating Rauf

Police refuse to confirm they are investigating Rauf

Police said Friday they were "investigating all the angles" in the Indian spot-fixing scandal but refused to confirm if they were targeting top Pakistani umpire Asad Rauf. Rauf was withdrawn from next month's Champions Trophy in England amid media reports
Published 25 May, 2013 12:00am
Defending champ Donald crashes out

Defending champ Donald crashes out

Defending champion Luke Donald crashed out of the European PGA Championship here at Wentworth on Friday. A level par second round of 72 left Donald regretting the 78 he shot on the first day as he was left on six-over par. With more than half the field st
Published 25 May, 2013 12:00am
PCB to prepare Code of Conduct for umpires

PCB to prepare Code of Conduct for umpires

Although distancing itself from the issue of Asad Rauf's alleged involvement in Indian Premier League (IPL) match-fixing scandal but the Pakistan Cricket Board (PCB) would be formulating Code of conduct for its umpires in near future. "In our next board m
Published 25 May, 2013 12:00am
All-round improvement needed after Irish tie, warns Misbah

All-round improvement needed after Irish tie, warns Misbah

Misbah ul-Haq has told his Pakistan team they must improve in all three departments ahead of Sunday's series decider with Ireland. Kevin O'Brien hit a dramatic four off the last ball of the first one-day international on Thursday to deny Pakistan victory
Published 25 May, 2013 12:00am
ICE cotton posts five-day slide on investor selling, Texas rain

ICE cotton posts five-day slide on investor selling, Texas rain

ICE cotton fell for a fifth straight session on Friday in its longest string of losses since September, pressured by investor selling and rain forecasts that eased supply concerns in the United States, the world's top exporter, dealers said. The most-acti
Published 25 May, 2013 12:00am
Shanghai copper rises

Shanghai copper rises

The most-traded September copper contract on the Shanghai Futures Exchange closed up 0.5 percent at 52,900 yuan ($8,600) a tonne on Friday. The preliminary HSBC purchasing managers' index for May suggests China's economic growth may remain under 8 percent
Published 25 May, 2013 12:00am
Copper little changed

Copper little changed

Copper was little changed on Friday as investors weighed the potential impact on metals demand of upbeat figures on US jobs and factory output versus data showing slower industrial activity iin top metals consumer China. Benchmark copper on the London Met
Published 25 May, 2013 12:00am
Oil rises on book squaring, but posts big weekly drop

Oil rises on book squaring, but posts big weekly drop

Brent oil prices crept higher on Friday, as traders exited short positions ahead of a long holiday weekend in the United States, but the weekly percentage drop was still the biggest in more than a month. Both Brent and US crude ended the week 2 percent lo
Published 25 May, 2013 12:00am
Tokyo rubber futures fall

Tokyo rubber futures fall

Benchmark Tokyo rubber futures fell to a two-week low on Friday, extending the previous day's steep decline, and lost almost 6 percent on the week after weak manufacturing data from China and the United States spurred worries about demand.
Published 25 May, 2013 12:00am
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