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Print - 2013-05-29
Message from Chief Executive Officer (CDC)

Message from Chief Executive Officer (CDC)

It feels great to share with you that Central Depository Company of Pakistan Limited (CDC) and Pakistan Capital Market's evolution are considered synonymous. CDC is a national institution of international stature and repute and rated among Pakistan's most
Published 29 May, 2013 12:00am
Messages from Chairman Board of Directors (CDC)

Messages from Chairman Board of Directors (CDC)

CDC is a true example of best organisational practices, functioning on merit, transparence and efficiency. The scores of achievements of the organisation in a short span of fifteen years would not have been possible without the help and support of all the
Published 29 May, 2013 12:00am
Role of Depository and Investor Protection in Pakistan

Role of Depository and Investor Protection in Pakistan

Over the past two decades, the Pakistani Capital Markets have developed aggressively in the areas of high-tech infrastructure, efficient mechanisms, proficient processes and smooth day-to-day operations, handling any increase in trading volumes swiftly. T
Published 29 May, 2013 12:00am
15 Years of Pakistan Capital Market Progress

15 Years of Pakistan Capital Market Progress

Chief Executive Officer, Central Depository Company of Pakistan Limited As I write this article, we see that our domestic capital markets are experiencing a revolutionary era. New standards and milestones are piling on, just as the volume and value of tra
Published 29 May, 2013 12:00am
Indian soya futures up tracking global prices

Indian soya futures up tracking global prices

Indian soya futures rose on Tuesday, tracking global prices, but rapeseed fell due to the absence of oilmeal export demand and timely arrival prospects of the monsoon. Soyaoil rose as Malaysian palm oil futures hit 1-1/2 month highs on signs of a recovery
Published 29 May, 2013 12:00am
Indonesia's sugar consumption seen up in 2013

Indonesia's sugar consumption seen up in 2013

Indonesia's sugar consumption is expected to rise by as much as 4 percent this year due to a growing population and rising demand for soft drinks, biscuits and bakery products, a refiner said on Tuesday. While the world's top raw sugar importer expects ov
Published 29 May, 2013 12:00am
Vietnam's coffee prices fall at 14-week low

Vietnam's coffee prices fall at 14-week low

Coffee prices in Vietnam dropped to their lowest level in almost 14 weeks on Tuesday as expectations of a large harvest in top grower Brazil raised worries about global oversupply. Heavy rain is giving a final boost to the Brazilian crop, which is due for
Published 29 May, 2013 12:00am
Indian sugar drops to one-week low on sluggish demand

Indian sugar drops to one-week low on sluggish demand

Indian sugar futures fell on Tuesday to their lowest level in a week due to lower-than-expected demand from bulk consumers and rising imports, though concerns over output in the next season limited the downside. The key June contract on the National Commo
Published 29 May, 2013 12:00am
EU wheat extends fall in US holiday lull

EU wheat extends fall in US holiday lull

Western European wheat prices fell again on Monday, pressured by signs of improved crop conditions in the northern hemisphere and after the Paris futures market broke through technical support. A market closure in the United States to mark the Memorial Da
Published 29 May, 2013 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 76,209 tonnes of cargo comprising 57,011 tonnes of import cargo and 19,198 tonnes of export cargo including 2,314 loaded and empty containers during the last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 57,01
Published 29 May, 2013 12:00am
Oil cake market rates

Oil cake market rates

Both the futures were unchanged on the forward cottonseeds oilcake market on Tuesday in the process of trading, dealers said. The July vaida ended at Rs 999.80, they said. The next day, the business opened at the same rate in the beginning hours, dealers
Published 29 May, 2013 12:00am
Trade activity on cotton market slow but steady

Trade activity on cotton market slow but steady

Business activity improved on the cotton market on Tuesday as needy mills and spinners came back to make urgent needs, dealers said. The official spot rate was unchanged at Rs 6,400, they said. In the ready business, over 5000 bales of cotton sold between
Published 29 May, 2013 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Monday, snapping a two-day skid, in thin volume with US markets closed for a holiday. Canola seen supported by thin supplies and a lack of farmer selling, however new-crop rose faster than old crop July as traders whitt
Published 29 May, 2013 12:00am
Modest trading on grain market

Modest trading on grain market

Modest trading was witnessed on the wholesale grain market on Tuesday as most of the participants were on the sidelines just to observe developments on political front, dealers said. On the cereals side, Barley Sindh gained Rs 200 to Rs 3000, other commod
Published 29 May, 2013 12:00am
Troubled Tomic quits

Troubled Tomic quits

Troubled Australian star Bernard Tomic suffered another setback in his faltering career on Tuesday when he quit his French Open first round match with an injury. The 20-year-old came into the second Grand Slam of the season against a background of controv
Published 29 May, 2013 12:00am
Dimitrov through, Date-Krumm out as rain swamps Paris

Dimitrov through, Date-Krumm out as rain swamps Paris

Highly-rated Bulgarian Grigor Dimitrov reached the French Open second round while Japanese veteran Kimiko Date-Krumm bowed out Tuesday as torrential rain caused havoc at Roland Garros. Dimitrov, dubbed 'Baby Federer' because of his similar style to the 17
Published 29 May, 2013 12:00am
Asif wins 6-Red snooker title in Doha

Asif wins 6-Red snooker title in Doha

Reigning world champion Muhammad Asif of Pakistan kept his cool in crucial moments of his final match against Amir Sarkhosh of Iran to win the second Asian 6-Red Snooker Championship here on Tuesday. The 31-year-old from Faisalabad, winner of the World Am
Published 29 May, 2013 12:00am
Sreesanth, teammastes remanded in custody

Sreesanth, teammastes remanded in custody

Indian Test bowler Shanthakumaran Sreesanth and his teammates will be sent to a New Delhi jail after they appeared in court Tuesday on spot-fixing charges as part of an ongoing corruption investigation. The court ordered Sreesanth and teammate Ajit Chandi
Published 29 May, 2013 12:00am
Mathews upbeat despite Lankans' IPL struggles

Mathews upbeat despite Lankans' IPL struggles

Sri Lanka captain Angelo Mathews is confident his side can impress during the upcoming Champions Trophy tournament in the United Kingdom. Sri Lankan players taking part in the latest edition of the 20-overs per side Indian Premier League tournament have l
Published 29 May, 2013 12:00am
U-16 Football Championship from June 7

U-16 Football Championship from June 7

Pakistan Football Federation (PFF) will be organising National U-16 Football Championship from 7th to 17th June 2013 at Abbottabad. A spokesman of the PFF said that earlier this event was to be commenced from 24th May at district Pakpattan. As many as 12
Published 29 May, 2013 12:00am
Neymar signs five-year deal with Barca

Neymar signs five-year deal with Barca

Brazilian football star Neymar on Monday signed a five-year contract with Spanish powerhouse FC Barcelona and will travel to Spain next week for the official presentation. The 21-year star, whose full name is Neymar da Silva Santos Junior, announced his c
Published 29 May, 2013 12:00am
Swann spins England to victory

Swann spins England to victory

Graeme Swann bowled England to a commanding 247-run win in the second Test against New Zealand in Leeds on Tuesday, with rain unable to save the tourists. Off-spinner Swann took six for 90, for a Test-best match return of 10 for 132, as New Zealand were d
Published 29 May, 2013 12:00am
Zidane to lead new Real project

Zidane to lead new Real project

Real Madrid president Florentino Perez has said the club's search for new recruits will not start until they have a new manager in place. Perez confirmed last week that Jose Mourinho would leave the club after three years in charge following Saturday's ma
Published 29 May, 2013 12:00am
Brazil to deploy drones over Confederation stadiums

Brazil to deploy drones over Confederation stadiums

Brazil will deploy two drones over the stadiums of Rio and Brasilia during the opening and closing of the Confederations Cup next month, the country's Air Force said Tuesday. "We will use the drones for surveillance of the stadiums and without interfering
Published 29 May, 2013 12:00am
Zaka to consult legal experts

Zaka to consult legal experts

Pakistan Cricket Board (PCB) Chairman Chaudhry Zaka Ashraf on Tuesday said that respect of judiciary was prime in any case and he would consult the legal experts before responding to the court orders of restraining him from performing as Chairman PCB.
Published 29 May, 2013 12:00am
PCB chief suspended over 'dubious' election

PCB chief suspended over 'dubious' election

A court on Tuesday ordered the suspension of the head of Pakistan's Cricket Board (PCB) over what it called the "dubious" and "polluted" process to elect him. Earlier this month Zaka Ashraf became the first-ever elected chairman of the Pakistan Cricket Bo
Published 29 May, 2013 12:00am
Indian shares gain for a third day

Indian shares gain for a third day

Indian shares rose for a third consecutive session on Tuesday, led by gains in resources stocks, as Reliance Industries climbed for a second day after a significant gas discovery, while Coal India jumped after its March-quarter profit beats estimates.
Published 29 May, 2013 12:00am
Nikkei up 1.2 percent

Nikkei up 1.2 percent

Japan's Nikkei share average rose on Tuesday, with investors picking up recently battered stocks as the market regained a degree of stability after the extreme volatility of the past few days. The Nikkei gained 169.33 points to 14,311.98, after dropping a
Published 29 May, 2013 12:00am
Australian shares up

Australian shares up

Australian shares ended 0.2 percent higher on Tuesday, snapping a five-day losing streak, as investors returned to pick up high-yield stocks such as banks following last week's downturn. The benchmark S&P/ASX 200 index added 10.8 points to 4,970.7, accord
Published 29 May, 2013 12:00am
Bankia stock tumbles after new shares hit market

Bankia stock tumbles after new shares hit market

Shares in state-owned Spanish lender Bankia tumbled on Tuesday after billions of new shares flooded the market as part of a multi-billion euro cash injection, with little hope of a quick recovery amid tough business conditions. More than 11 billion shares
Published 29 May, 2013 12:00am
Chinese shares climb to highest since March, help lift Hong Kong markets

Chinese shares climb to highest since March, help lift Hong Kong markets

China shares climbed to their highest since March on Tuesday, lifting Hong Kong markets, as investors chased an afternoon rally in property counters on hopes of improved profit margins as authorities seek to rein in land prices. The Economic Information D
Published 29 May, 2013 12:00am
European shares rise

European shares rise

European shares headed back towards recent multi-year highs on Tuesday as pledges of continued monetary policy support from central banks in Japan and Europe calmed jittery investors. Stocks suffered last week on concern that the US central bank could sca
Published 29 May, 2013 12:00am
Seoul shares edge up

Seoul shares edge up

Seoul shares edged up on Tuesday, in spite of falls for key exporters, thanks to gains by defensive stocks and buying by pension funds. While the Seoul market likely will stay in a narrow range for some time, "the good news is it has pretty firm support a
Published 29 May, 2013 12:00am
Taiwan stocks drop

Taiwan stocks drop

Taiwan stocks ended 0.21 percent lower on Tuesday as investors took profit from chip makers, with TSMC shedding 2.2 percent. The main TAIEX index slipped 17.05 points to 8,263.05, after opening up 0.1 percent. Electronics shares retreated 0.4 percent, whi
Published 29 May, 2013 12:00am
Southeast Asian stocks snap losses

Southeast Asian stocks snap losses

Southeast Asian stock markets rose on Tuesday, regaining recent lost ground along with broader Asia, with Thai stocks bouncing back to end above 1,600 mark amid selective buying in banks and property shares on expectations of a policy interest rate cut. T
Published 29 May, 2013 12:00am
HSBC, Glaxo push FTSE back near 13-year highs

HSBC, Glaxo push FTSE back near 13-year highs

Britain's benchmark equity index rebounded back towards near 13-year highs on Tuesday, led by gains in heavyweight bank HSBC and pharmaceuticals group GlaxoSmithKline. While some traders felt a near-term pullback was possible, many said the equity market'
Published 29 May, 2013 12:00am
Australian and New Zealand dollars jump versus yen

Australian and New Zealand dollars jump versus yen

The Australian and New Zealand dollars jumped 1 percent against the yen on Tuesday and bounced off multi-month lows versus their US counterpart, with investors still wary over excessive volatility in Japanese stocks and the US dollar.
Published 29 May, 2013 12:00am
Yuan ends lower

Yuan ends lower

China's yuan, which has hit record highs against the dollar seven times this month, closed slightly weaker on Tuesday after the central bank set a slightly lower midpoint to signal a pause in the currency's appreciation. Spot yuan closed at 6.1215 against
Published 29 May, 2013 12:00am
Indian rupee drops

Indian rupee drops

The Indian rupee came within striking distance of a nine-month low on Tuesday on heavy defence-related buying of dollars, although exporters helped prevent a bigger slide by selling the greenback. The rupee dropped to as low as 55.9950, just short of brea
Published 29 May, 2013 12:00am
Yen tumbles in Asia

Yen tumbles in Asia

The yen tumbled on Tuesday as Japanese shares appeared to be stabilising after sharp losses and extreme volatility in the past few sessions, easing worries that investors may have to close their yen-selling positions to make up for losses. While the Nikke
Published 29 May, 2013 12:00am
Early trade in New York: dollar rallies against euro, yen

Early trade in New York: dollar rallies against euro, yen

The US dollar rallied against the euro and yen on Tuesday after stronger-than-expected US economic data boosted expectations the Federal Reserve could reduce the pace of its bond purchases in coming months. US consumer confidence strengthened in May to th
Published 29 May, 2013 12:00am
Yen, Swiss franc slip in London trade

Yen, Swiss franc slip in London trade

The yen and the Swiss franc slipped on Tuesday as riskier assets like equities benefited from policymakers in the euro zone reaffirming their expansive monetary policy stance. Currencies such as the yen and the Swiss franc, which rose sharply last week af
Published 29 May, 2013 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 77.75-77.7510 (77.76-77.78). Call Money Rates: 05.30-07.75 percent (previous 05.30-07.00 percent).
Published 29 May, 2013 12:00am
Swiss franc falls

Swiss franc falls

The Swiss franc fell against the euro and the dollar on Tuesday as global markets stabilised following the recent patch of volatility, prompting less demand for safe-haven currencies. The franc fell 0.6 percent against the dollar to trade at 0.9693 compar
Published 29 May, 2013 12:00am
Peso hits 8-month low

Peso hits 8-month low

The Philippine peso slid to an eight-month low against a broadly firmer dollar on Tuesday with the peso's drop accelerating on position unwinding after breaching a technical support level. The peso was last down 0.6 percent versus the dollar at 41.85, aft
Published 29 May, 2013 12:00am
Hungarian central bank cuts key rate

Hungarian central bank cuts key rate

Hungary's central bank (MNB) cut its base rate by a quarter of a point to a record low of 4.50 percent on Tuesday amid strong economic results recently and with analysts predicting more cuts to come. This was the 10th monthly reduction in a row since an e
Published 29 May, 2013 12:00am
Sterling falls versus dollar

Sterling falls versus dollar

Sterling fell against a firmer dollar on Tuesday, trading near recent lows after strong US economic data that supported the case for the Federal Reserve to scale back its stimulus programme. The pound was down 0.3 percent at $1.5053 after data showed US c
Published 29 May, 2013 12:00am
Airbus supplier Premium Aerotec changes top management

Airbus supplier Premium Aerotec changes top management

The bosses of Airbus supplier Premium Aerotec have resigned as the company seeks new management to help improve its financial performance. President and Chief Executive Kai Horten, and Human Resources head Wolfram Sauer are leaving the company with immedi
Published 29 May, 2013 12:00am
S&P cuts Commerzbank debt rating

S&P cuts Commerzbank debt rating

The international credit rating agency Standard & Poor's said Tuesday it has cut the long-term credit ratings of Commerzbank, saying Germany's second-biggest bank faced a "tough time" getting its house in order. S&P said in statement it has lowered Commer
Published 29 May, 2013 12:00am
S&P cuts Commerzbank debt rating

S&P cuts Commerzbank debt rating

The international credit rating agency Standard & Poor's said Tuesday it has cut the long-term credit ratings of Commerzbank, saying Germany's second-biggest bank faced a "tough time" getting its house in order. S&P said in statement it has lowered Commer
Published 29 May, 2013 12:00am
EU trade chief tells China he won't yield on solar panels

EU trade chief tells China he won't yield on solar panels

The European Union's trade chief bluntly told China on Tuesday it was wasting its time trying to put pressure on him to drop plans to impose punitive import duties on Chinese solar panels. The European Commission, the EU's executive, accuses China of floo
Published 29 May, 2013 12:00am
VW management, unions reach pay deal

VW management, unions reach pay deal

German carmaker Volkswagen and the powerful IG Metall labour union announced on Tuesday they have reached a wage deal, giving 102,000 VW workers in Germany a two-step wage increase over the next 20 months. Employees at sites in Wolfsburg, Brunswick, Hanov
Published 29 May, 2013 12:00am
US home prices accelerate by most in seven years

US home prices accelerate by most in seven years

US home prices accelerated by the most in nearly seven years in March as the spring buying season gave the sector traction, while surging consumer confidence pointed to some resilience for the economic recovery. The data on Tuesday also suggested the two
Published 29 May, 2013 12:00am
Daimler recalls over 6,000 new Mercedes A-Class hatchbacks

Daimler recalls over 6,000 new Mercedes A-Class hatchbacks

Daimler is recalling more than 6,000 of its new Mercedes-Benz A-Class hatchbacks because of problems with the passenger airbag. The company said on Tuesday that about 6,000 cars in Germany alone are affected, plus an unquantified figure outside its domest
Published 29 May, 2013 12:00am
EU hits Argentina, Indonesia with bio-diesel tariffs

EU hits Argentina, Indonesia with bio-diesel tariffs

The European Commission moved on Tuesday to impose provisional anti-dumping duties on bio-diesel from Argentina and Indonesia which account for some 20 percent of the 12-billion-euros EU market. The Commission said it took its decision after an investigat
Published 29 May, 2013 12:00am
French central bank urges government to cut spending

French central bank urges government to cut spending

The French central bank waded into troubled and highly controversial waters on Tuesday, urging the government to cut spending and avoid raising taxes further. The head of the central bank, Christian Noyer, issued his admonishment in a letter a day before
Published 29 May, 2013 12:00am
Germany sees 'revolution' if welfare model scrapped

Germany sees 'revolution' if welfare model scrapped

German Finance Minister Wolfgang Schaeuble warned on Tuesday that failure to win the battle against youth unemployment could tear Europe apart, while abandoning the continent's welfare model in favour of tougher US standards would cause "revolution".
Published 29 May, 2013 12:00am
Tiffany sales rise more than expected

Tiffany sales rise more than expected

Tiffany & Co on Tuesday reported higher-than-expected sales for the first quarter that included Valentine's Day, helped by gains in all regions and promotions around the jeweller's 175th anniversary and "The Great Gatsby' movie tie-in. Overall revenue ros
Published 29 May, 2013 12:00am
Kuwait refiner in $516 million deal with Korean Daelim

Kuwait refiner in $516 million deal with Korean Daelim

Kuwait National Petroleum Co said Tuesday it has signed a $516 million contract with South Korean Daelim Industrial for the repair and expansion of sulphur processing facilities at the Gulf state's largest refinery of Mina Al-Ahmadi. Daelim will undertake
Published 29 May, 2013 12:00am
Italy's borrowing costs fall in bond sale

Italy's borrowing costs fall in bond sale

Italy's borrowing costs fell on Tuesday in a bond auction that raised 3.5 billion euros ($4.5 billion), a day before the country is likely to exit the European Union's excessive deficit procedure. The Italian Treasury raised 2.5 billion euros in zero coup
Published 29 May, 2013 12:00am
Italy's borrowing costs fall in bond sale

Italy's borrowing costs fall in bond sale

Italy's borrowing costs fell on Tuesday in a bond auction that raised 3.5 billion euros ($4.5 billion), a day before the country is likely to exit the European Union's excessive deficit procedure. The Italian Treasury raised 2.5 billion euros in zero coup
Published 29 May, 2013 12:00am
French victim of Sars-like virus dies

French victim of Sars-like virus dies

France's first victim of a Sars-like virus which the 65-year-old man is thought to have contracted in Dubai, has died, health officials said Tuesday. "The first patient is dead," a spokesman with the Directorate General for Health said, referring to the m
Published 29 May, 2013 12:00am
Libya assembly chief quits

Libya assembly chief quits

Mohamed al-Megaryef, the president of Libya's top political body, resigned on Tuesday to comply with a new law banning Qadhafi-era officials from government jobs. "Everyone must obey the law out of respect for legality and democracy. I tender my resignati
Published 29 May, 2013 12:00am
Germany's Bild daily launches online pay wall

Germany's Bild daily launches online pay wall

Germany's Bild daily, the biggest-selling European newspaper, plans to make readers pay for part of its online content from early next month, it said in its Tuesday edition. In what it calls a "freemium model", it will continue to provide free-access news
Published 29 May, 2013 12:00am
Singapore tightens rules on news websites

Singapore tightens rules on news websites

Singapore's official media watchdog Tuesday announced licensing rules for news websites, including the local Yahoo! portal, that will subject them to the same regulations as traditional media. From June 1, websites which have more than 50,000 unique visit
Published 29 May, 2013 12:00am
China steals plans for new Australia spy HQ

China steals plans for new Australia spy HQ

Chinese hackers have stolen top-secret blueprints of Australia's new intelligence agency headquarters, a report said Tuesday, but Foreign Minister Bob Carr insisted ties with Beijing would not be hurt. The Australian Broadcasting Corporation said the docu
Published 29 May, 2013 12:00am
Iraq death toll passes 500 in May

Iraq death toll passes 500 in May

Violence in Iraq has killed more than 500 people in May, AFP figures showed on Tuesday, as authorities struggled to contain a wave of unrest that has raised fears of all-out sectarian conflict. And the UN envoy to Iraq urged the country's leaders to meet
Published 29 May, 2013 12:00am
Foreign workers queue to quit Saudi Arabia after amnesty on fines

Foreign workers queue to quit Saudi Arabia after amnesty on fines

Tens of thousands of foreign workers are trying to leave Saudi Arabia after the government of the world's No 1 oil exporter said they would be forgiven any fees or fines for visa violations such as overstaying or switching jobs. Riyadh is pursuing sweepin
Published 29 May, 2013 12:00am
Syria accuses UN's Pillay of 'flagrant bias'

Syria accuses UN's Pillay of 'flagrant bias'

The Syrian regime on Tuesday accused UN human rights chief Navi Pillay of "flagrant bias" a day after she warned violations in the war-torn country had reached "horrific dimensions". The Syrian delegation to the UN'S Human Rights Council "strongly denounc
Published 29 May, 2013 12:00am
US says it supports EU easing of Syria arms embargo

US says it supports EU easing of Syria arms embargo

The United States said Tuesday it supports the European Union's decision to ease an arms embargo on Syria as a show of "full support" for rebels fighting President Bashar al-Assad. "While it is ultimately an EU decision, we do support the easing of the EU
Published 29 May, 2013 12:00am
Russia to send Syria missiles as spillover fears grow

Russia to send Syria missiles as spillover fears grow

Russia insisted Tuesday it would deliver anti-aircraft missiles to Syria despite international criticism, as fears of spillover from the conflict grew after three Lebanese soldiers were killed in a border-area attack. Israel warned Russia it would "know w
Published 29 May, 2013 12:00am
Kenya suffers nation-wide power cut

Kenya suffers nation-wide power cut

Kenya suffered a country-wide power cut Tuesday after technical faults triggered a wider shutdown, national provider Kenya Power said. Power failed after two transmission lines from a geothermal power station tripped, prompting the national grid to also c
Published 29 May, 2013 12:00am
Two US embassy personnel injured in Venezuela

Two US embassy personnel injured in Venezuela

Two employees of the US embassy in Venezuela were injured in an "incident" early Tuesday, the State Department said, as local media in Caracas reported the pair had been shot. "Medical staff inform us that their injuries are not life-threatening," State D
Published 29 May, 2013 12:00am
IMF board voices confidence in Lagarde

IMF board voices confidence in Lagarde

The International Monetary Fund's executive board on Tuesday reiterated confidence in managing director Christine Lagarde after a French court grilled her over a state payout to a disgraced tycoon when she was finance minister. "As we have said before, it
Published 29 May, 2013 12:00am
North Korea invites South Korean managers to joint zone

North Korea invites South Korean managers to joint zone

North Korea said Tuesday it would allow South Korean businessmen to visit their plants in a shuttered joint economic zone, but declined Seoul's offer of official working-level talks on the complex. The Committee for the Peaceful Reunification of Korea (CP
Published 29 May, 2013 12:00am
US weapons designs hacked by Chinese

US weapons designs hacked by Chinese

US officials and defence firms have concluded that Chinese hackers have breached networks containing designs of many advanced US weapons systems, the Washington Post reported Tuesday. The Post, citing a confidential report prepared for the Pentagon, said
Published 29 May, 2013 12:00am
Wishful thinking of leaders can lead Pakistan to default: PEW

Wishful thinking of leaders can lead Pakistan to default: PEW

Leaders of the trading community on Tuesday said ignoring the advice of International Monetary Fund (IMF) and delaying negotiations with the lender is a recipe for economic disaster. Early negotiations with the international lender will be good for reputa
Published 29 May, 2013 12:00am
Wishful thinking of leaders can lead Pakistan to default: PEW

Wishful thinking of leaders can lead Pakistan to default: PEW

Leaders of the trading community on Tuesday said ignoring the advice of International Monetary Fund (IMF) and delaying negotiations with the lender is a recipe for economic disaster. Early negotiations with the international lender will be good for reputa
Published 29 May, 2013 12:00am
Industrialists get much needed relief after SSGC-KESC agreement

Industrialists get much needed relief after SSGC-KESC agreement

The industrialists had a sigh of relief on Tuesday after Karachi Electric Supply Company (KESC) exempted the industrials areas of the city from loadshedding following an agreement with Sui Southern Gas Company (SSGC) for supply of gas and over the outstan
Published 29 May, 2013 12:00am
Habib Metropolitan Bank

Habib Metropolitan Bank

Habib Metropolitan Bank was incorporated in Pakistan in 1992 as a public listed company. The bank started its commercial operations in the last quarter of CY92, under the name Metropolitan Bank. In 2006, the operations of Habib Bank AG Zurich merged into
Published 29 May, 2013 12:00am
Habib Metropolitan Bank

Habib Metropolitan Bank

Habib Metropolitan Bank was incorporated in Pakistan in 1992 as a public listed company. The bank started its commercial operations in the last quarter of CY92, under the name Metropolitan Bank. In 2006, the operations of Habib Bank AG Zurich merged into
Published 29 May, 2013 12:00am
Full wheat genome within reach, at little cost

Full wheat genome within reach, at little cost

The head of a body set up by the G20 economic powers to help avert food crises urged governments to fund a map of wheat's unusually complex genetic code to help boost crop yields and feed growing world demand.
Published 29 May, 2013 12:00am
Shanghai copper falls

Shanghai copper falls

The most-traded September copper contract on the Shanghai Futures Exchange fell to its lowest since May 16, before cutting losses to finish up 0.40 percent at 52,650 yuan ($8,600) a tonne on Tuesday as European investors took heart from comments by a top
Published 29 May, 2013 12:00am
Copper gains on US data

Copper gains on US data

Copper rose on Tuesday after strong US housing and consumer confidence data lifted prospects for rising metals demand in the world's biggest economy, although gains were capped by a stronger dollar and concerns over Chinese growth. Metals prices got a sho
Published 29 May, 2013 12:00am
Oil rises, buoyed by equities and Middle East tension

Oil rises, buoyed by equities and Middle East tension

Brent crude rose more than $1 on Tuesday as US consumer optimism and signs of easier monetary policy from central banks pushed stock markets higher, while increasing Middle East risk also supported oil. Brent and US crude oil headed for their biggest one-
Published 29 May, 2013 12:00am
Tokyo rubber rises

Tokyo rubber rises

Tokyo rubber futures rose slightly on Tuesday, snapping a three-day losing streak, as a rise in Japan's Nikkei share average and a fall in the yen currency encouraged investors. "The rubber market tracked a rally in the stock market higher. A weaker yen a
Published 29 May, 2013 12:00am
US soya planting seen at 42 percent

US soya planting seen at 42 percent

Rain around the US Midwest again delayed the seeding of spring crops, pushing soyabean planting to its slowest pace in 17 years and slowing the final stretch of corn planting, analysts said early Tuesday. Soyabean planting was seen 42 percent complete as
Published 29 May, 2013 12:00am
Malaysian palm oil hits 1-1/2-month high

Malaysian palm oil hits 1-1/2-month high

Malaysian palm oil futures hit 1-1/2-month highs on Tuesday as optimism grew that a demand recovery and stagnant output would pare stocks of the edible oil. Palm oil exports from the country during May 1-25 fell 2.6 percent from a month ago but that was a
Published 29 May, 2013 12:00am
Arabica coffee falls over 3-1/2-year low

Arabica coffee falls over 3-1/2-year low

Arabica coffee futures extended their sharp decline on Tuesday, falling to their lowest in more than 3-1/2 years as rain in top grower Brazil was expected to aid an anticipated bumper harvest. Cocoa fell for the fourth straight session to multi-week lows,
Published 29 May, 2013 12:00am
Gold falls in Asia

Gold falls in Asia

Gold fell on Tuesday as Asian stock markets and the dollar firmed after a turbulent week, undermining the metal's appeal as a safe haven. Demand in the physical market, however, continued to hold prices near $1,400 an ounce as the recent drops in the spot
Published 29 May, 2013 12:00am
Gold slips in Europe

Gold slips in Europe

Gold slipped on Tuesday, having failed to hurdle $1,400 an ounce, with physical demand overshadowed by hesitancy from bullion-backed fund (ETFs) investors wary of a firmer dollar and rising stock markets. Dealers also noted US 10-year treasury yields abov
Published 29 May, 2013 12:00am
US MIDDAY: corn, soya soar

US MIDDAY: corn, soya soar

Chicago Board of Trade (CBOT) corn and soyabean futures soared on Tuesday with soya leaping more than 2 percent, the most in a month, as excessive wet weather in the United States threatened to trim crop acreage and yields. "We're adding some risk premium
Published 29 May, 2013 12:00am
US MIDDAY: gold down

US MIDDAY: gold down

Strong buying of physical bullion on Tuesday reversed an early gold decline caused by a dollar rise and technical selling, but the metal continued to feel pressure from chart-based sell orders which stopped the recovery. Benchmark gold futures showed a ga
Published 29 May, 2013 12:00am
Make banking personal again

Make banking personal again

Digital technologies are influencing every part of our lives, including the way we bank. As banks shift to a more digital approach, it is important that they remember the 'personal' in personal banking, says Steve Bertamini, Group Executive Director and C
Published 29 May, 2013 12:00am
Huge crowd throngs IT Exposition

Huge crowd throngs IT Exposition

The IT Expo in Khyber Pakhtunkhwa attracted a large number of visitors on first day which would helpful to develop industries and academic linkages with promotion of manufacturing products of various local and foreign companies. A large number of buyers o
Published 29 May, 2013 12:00am
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