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Jan 17, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2013-10-16
Air France '50-50' over Alitalia cash, wants more cuts

Air France '50-50' over Alitalia cash, wants more cuts

A source close to Alitalia's biggest investor, Air France-KLM, said it was "50-50" whether it would participate in an emergency share issue to keep the near-bankrupt airline flying because the Italian carrier's business plan did not meet its conditions. A
Published 16 Oct, 2013 12:00am
French president pays 'emotional' visit to Mandela house

French president pays 'emotional' visit to Mandela house

French President Francois Hollande paid a "very emotional" visit Tuesday to the small house in Soweto where peace icon Nelson Mandela lived before his 27-year-imprisonment. "Coming to this house you get the feeling of a fighter, a combatant, a militant wh
Published 16 Oct, 2013 12:00am
Police investigate dry ice bombs at Los Angeles airport

Police investigate dry ice bombs at Los Angeles airport

Federal and local authorities said Tuesday they are investigating who placed explosive devices made from dry ice at the Los Angeles International Airport. Officials said no one was injured and no damage was caused when two of the devices exploded. One wen
Published 16 Oct, 2013 12:00am
Malawi names new finance minister in wake of 'cash-gate' scandal

Malawi names new finance minister in wake of 'cash-gate' scandal

Malawi's President Joyce Banda on Tuesday named a former World Bank economist as the new finance minister, five days after dissolving her cabinet amid a massive corruption scandal. Maxwell Mkwezalamba, who has been a commissioner for economic affairs at t
Published 16 Oct, 2013 12:00am
Georgia says former defence minister detained in France

Georgia says former defence minister detained in France

French authorities have detained a former Georgian defence minister wanted in his homeland on corruption charges, Georgia's interior ministry said Tuesday. Davit Kezerashvili, a close ally of outgoing president Mikheil Saakashvili, was detained Monday in
Published 16 Oct, 2013 12:00am
Russian diamond firm Alrosa aims for $1.4 billion share offer

Russian diamond firm Alrosa aims for $1.4 billion share offer

Russian state-owned diamond miner Alrosa, which starts a road-show for a share sale on Monday, is valuing itself at up to $8.8 billion under the offering - below a previous forecast of up to $15 billion. Alrosa is the world's top diamond producer by outpu
Published 16 Oct, 2013 12:00am
Russian diamond firm Alrosa aims for $1.4 billion share offer

Russian diamond firm Alrosa aims for $1.4 billion share offer

Russian state-owned diamond miner Alrosa, which starts a road-show for a share sale on Monday, is valuing itself at up to $8.8 billion under the offering - below a previous forecast of up to $15 billion. Alrosa is the world's top diamond producer by outpu
Published 16 Oct, 2013 12:00am
India may squeeze state firms for cash as asset sales falter

India may squeeze state firms for cash as asset sales falter

India's plan to raise about $9 billion from state-asset sales this year is in tatters, prompting the government to consider demanding state-run firms pay higher dividends as a way of papering over cracks in its budget. Four finance ministry officials with
Published 16 Oct, 2013 12:00am
Kawasaki Heavy to supply parts for use by British navy

Kawasaki Heavy to supply parts for use by British navy

Japan's government will allow Kawasaki Heavy Industries Ltd to sell engine parts for use by the British navy, deciding it would not violate a long-standing ban on arms exports, Japanese media reported on Monday. Kawasaki Heavy will sell the gas turbine en
Published 16 Oct, 2013 12:00am
Rwanda to grow 7.5 percent in 2013

Rwanda to grow 7.5 percent in 2013

Rwanda will see economic growth of 7.5 percent this year and more than 8 percent next year, helped by strong exports and the restoration of aid, the country's finance minister said on Tuesday. The 7.5 percent growth target for this year remains achievable
Published 16 Oct, 2013 12:00am
Bank of England's Weale worried about rising house prices

Bank of England's Weale worried about rising house prices

A Bank of England policymaker expressed concern about the rapid pace of recovery in Britain's housing market on Tuesday, shortly after data showed the biggest jump in property prices in almost three years. "I am concerned about the recent buoyancy of hous
Published 16 Oct, 2013 12:00am
Vodafone completes take-over of Kabel Deutschland

Vodafone completes take-over of Kabel Deutschland

British mobile phone giant Vodafone said Monday that the group has now completed its 7.7-billion-euro ($10-billion) take-over of Kabel Deutschland. "Vodafone Group Plc announces that the voluntary public take-over offer for Kabel Deutschland Holding AG (K
Published 16 Oct, 2013 12:00am
Irish construction expands for first time in 6 years

Irish construction expands for first time in 6 years

Ireland's construction industry grew in September for the first time since 2007, indicating the bailed out economy may be picking up steam, a survey showed on Monday. Construction powered the country's "Celtic Tiger" economic boom, fuelled by easy lending
Published 16 Oct, 2013 12:00am
South Korea's GS Caltex drops planned Brazil refinery project

South Korea's GS Caltex drops planned Brazil refinery project

South Korea's second-largest oil refiner GS Caltex said it has dropped plans to build a refining plant with GS Energy and Brazil's state-run oil firm Petroleo Brasileiro SA due to uncertainty over profitability. GS Caltex, with a 775,000 barrel-per-day (b
Published 16 Oct, 2013 12:00am
Labour representatives hold up Commerzbank's bid to trim board

Labour representatives hold up Commerzbank's bid to trim board

Labour representatives on Commerzbank's supervisory board have delayed an attempt by the German bank to cut the size of its management board by voting against the dismissal of two executives, three sources familiar with the matter said. The labour represe
Published 16 Oct, 2013 12:00am
Spanish banks fear new capital hit in European review

Spanish banks fear new capital hit in European review

Spanish banks are considering ways to boost their capital amid fears the euro zone's imminent review of their balance sheets will force them to set aside even more cash for potential losses on restructured loans, banking sources in Madrid said. The countr
Published 16 Oct, 2013 12:00am
India's BSE index falls from three-year high

India's BSE index falls from three-year high

India's benchmark index fell on Tuesday, retreating from a nearly three-year high hit earlier in the session, as bluechips declined ahead of the October 17 deadline to lift the US debt ceiling. Lenders also led decliners after data showing higher-than-exp
Published 16 Oct, 2013 12:00am
Hong Kong stocks up, China slips

Hong Kong stocks up, China slips

Hong Kong stocks rose 0.51 percent on Tuesday as US lawmakers inched closer to a deal to reopen the government and raising the country's borrowing limit to head off a devastating debt default. The benchmark Hang Seng Index added 118.20 points to finish at
Published 16 Oct, 2013 12:00am
Wall Street rises on hopes for a budget deal

Wall Street rises on hopes for a budget deal

US stocks ended a volatile session with modest gains on Monday, as investors bet that there would soon be a deal in Washington to increase the debt limit, though there were no obvious signs of progress. President Barack Obama was scheduled to meet with se
Published 16 Oct, 2013 12:00am
Seoul shares at 1-1/2-year high

Seoul shares at 1-1/2-year high

Seoul shares ended at their highest level in 1-1/2 years on Tuesday, with shipbuilders and automakers leading a broad market rally as US lawmakers showed confidence in settling a debt deal before Thursday's deadline. The Korea Composite Stock Price Index
Published 16 Oct, 2013 12:00am
US yields rise on signs of fiscal deal

US yields rise on signs of fiscal deal

: US Treasury yields hit their highest in three weeks on Monday on signs that the US Senate was edging closer to a deal on the fiscal crisis which has paralysed part of the government. But US credit default swaps and short-term interest rates remained ele
Published 16 Oct, 2013 12:00am
US yields rise on signs of fiscal deal

US yields rise on signs of fiscal deal

: US Treasury yields hit their highest in three weeks on Monday on signs that the US Senate was edging closer to a deal on the fiscal crisis which has paralysed part of the government. But US credit default swaps and short-term interest rates remained ele
Published 16 Oct, 2013 12:00am
Australian shares climb

Australian shares climb

Australian shares rose 1.0 percent on Tuesday, supported by broad-based buying in miners and banks as investors grew more hopeful that US lawmakers might be nearing a budget and debt deal after weeks of wrangling. The S&P/ASX 200 index climbed up 51.2 poi
Published 16 Oct, 2013 12:00am
European shares climb

European shares climb

European shares rose on Tuesday, with some benchmark indexes hitting multi-year highs, bolstered by indications that a deal could soon be clinched in Washington to avert a debt default. The FTSEurofirst 300 was up 0.8 percent at 1,262.50 points by 1515 GM
Published 16 Oct, 2013 12:00am
Tokyo stocks up

Tokyo stocks up

Tokyo stocks closed up 0.26 percent Tuesday, underpinned by hopes of a deal that would end a US government shutdown and raise its borrowing limit to avoid a default. The Nikkei 225 index gained 36.80 points to 14,441.54 while the Topix index of all first-
Published 16 Oct, 2013 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.8 percent on Tuesday, paced by gains in heavyweights such as TSMC on expectations of an imminent deal to reopen the US government and avoid a possible debt default. At around one hour into trade, the main TAIEX index had climbed to 8,
Published 16 Oct, 2013 12:00am
Sri Lankan stocks hit over seven-week high

Sri Lankan stocks hit over seven-week high

Sri Lankan stocks hit their highest level in more than seven weeks on Tuesday led by foreign buying in conglomerate John Keells Holdings PLC, which boosted turnover to a four-month high amid little impact after a surprise central bank policy rate cut. The
Published 16 Oct, 2013 12:00am
Southeast Asia markets: Thai stocks extend gains

Southeast Asia markets: Thai stocks extend gains

Thai stocks rose for a sixth session on Tuesday, while Vietnam's shares ended four days of falls, joining global equities in gains on hopes of a US budget deal, with investors buying shares in Thai banks ahead of the reporting season. Bangkok's SET index
Published 16 Oct, 2013 12:00am
US debt deal optimism lifts FTSE to October high

US debt deal optimism lifts FTSE to October high

Britain's top share index rose to its highest level so far in October on Tuesday, buoyed by signs of a deal to fix the US budget and debt ceiling stalemate that has weighed on stock markets this month. The bluechip FTSE 100 index rose by 0.8 percent, or 5
Published 16 Oct, 2013 12:00am
Latam currencies flat

Latam currencies flat

Latin American currencies held on to recent gains as investors hoped a meeting between President Barack Obama and Congressional leaders would lead to a deal to extend the US debt ceiling, averting a historic default. News of the meeting, scheduled for thi
Published 16 Oct, 2013 12:00am
Australian and New Zealand dollars jump

Australian and New Zealand dollars jump

The Australian and New Zealand dollars powered up to multi-week peaks on Tuesday after hopes of an imminent US debt deal lifted risk sentiment from stocks to commodity-linked currencies. The Aussie gained a third of a cent on the day to a four-month high
Published 16 Oct, 2013 12:00am
Indian rupee falls

Indian rupee falls

The Indian rupee weakened for a second session on Tuesday as the dollar rallied broadly on hopes US lawmakers would agree on a deal to raise the country's debt limit, averting an immediate default. The plan being negotiated by US Senate leaders would end
Published 16 Oct, 2013 12:00am
Wider trading band talk grows as yuan hits record

Wider trading band talk grows as yuan hits record

China's yuan hit a record high for a second consecutive day on Tuesday as traders braced for the possibility the currency's trading band could be widened ahead of a key economic meeting in early November. In a marked departure from the tight ranges seen o
Published 16 Oct, 2013 12:00am
Sterling falls versus dollar, focus on US deal and UK jobs data

Sterling falls versus dollar, focus on US deal and UK jobs data

Sterling fell on Tuesday against the dollar, which rose broadly on rising expectations that lawmakers would strike a deal that would avert an immediate debt default by the world's largest economy. The pound gave up brief gains seen after British inflation
Published 16 Oct, 2013 12:00am
Turkish lira seen above two per dollar in next 12 months

Turkish lira seen above two per dollar in next 12 months

The Turkish lira will remain weak, trading at more than 2 per dollar for the next year despite central bank efforts to curb losses, a Reuters poll showed on Thursday. A survey of 36 analysts and foreign exchange strategists suggested the lira would trade
Published 16 Oct, 2013 12:00am
US debt deal hopes lift Asian forex; won hits nine-month high

US debt deal hopes lift Asian forex; won hits nine-month high

The South Korean won hit a near nine-month high on Tuesday as most emerging Asian currencies rose on growing hopes for a deal to reopen the US government and avert a possible debt default. China's yuan hit a record high for a second consecutive session, s
Published 16 Oct, 2013 12:00am
Yen to weaken on additional monetary stimulus from BoJ

Yen to weaken on additional monetary stimulus from BoJ

The yen will probably weaken over the next year as the Bank of Japan eases monetary policy further to offset any drag from a planned sales tax hike and to bring inflation up to its target, a Reuters poll found. Thursday's poll of around 65 strategists for
Published 16 Oct, 2013 12:00am
Dollar rises in Asia

Dollar rises in Asia

The dollar held firm on Tuesday, hitting a two-week high against the yen as top US senators signalled they could soon reach a bipartisan deal to reopen the government and avert an immediate debt default. Moves in major currencies were mostly modest, howev
Published 16 Oct, 2013 12:00am
Dollar hits one-month high versus currency basket

Dollar hits one-month high versus currency basket

The dollar hit a one-month high against a basket of currencies on Tuesday, buoyed by signs US lawmakers could soon reach a deal to avert default. The dollar index rose 0.4 percent to 80.678, its highest since September 18. US Senate Majority Leader Harry
Published 16 Oct, 2013 12:00am
Key Euribor rate steady as markets mull ECB course

Key Euribor rate steady as markets mull ECB course

The benchmark Euribor bank-to-bank lending rate was unchanged on Monday, holding steady as markets assess the chance of the European Central Bank engaging in more policy easing. On Friday, ECB President Mario Draghi said the central bank was looking caref
Published 16 Oct, 2013 12:00am
Dollar climbs to one-month high

Dollar climbs to one-month high

The dollar rose to touch a one-month high against a basket of currencies on Tuesday, buoyed by optimism that US lawmakers could soon reach a deal to avert a US debt default. The dollar index rose 0.4 percent to 80.598, its highest since September 18. US S
Published 16 Oct, 2013 12:00am
Yen climbs as safe-haven status revived

Yen climbs as safe-haven status revived

The dollar slipped on Monday and the yen gained on safe-haven demand, as US lawmakers struggled to reach a deal before this week's debt ceiling deadline, stoking concerns the United States may actually default on its debt obligations. While negotiations i
Published 16 Oct, 2013 12:00am
Dolonc upsets former winner Cibulkova in Kremlin Cup

Dolonc upsets former winner Cibulkova in Kremlin Cup

Serbian qualifier Vesna Dolonc battled from a set down to upset former winner Dominika Cibulkova to advance to the second round of the joint ATP and WTA Kremlin Cup here on Tuesday. Dolonc, 24, came through 3-6, 7-5, 6-3 winner against ninth seed Slovak C
Published 16 Oct, 2013 12:00am
Ton-up Khurram gives Pakistan lead in first Test

Ton-up Khurram gives Pakistan lead in first Test

Opener Khurram Manzoor notched a maiden hundred to help Pakistan take the upper hand in the first Test against South Africa in Abu Dhabi on Tuesday. The 27-year-old right-handed batsman was unbeaten on 131 and skipper Misbah-ul Haq on 44 not out as Pakist
Published 16 Oct, 2013 12:00am
Australia to seek local as national coach: FFA

Australia to seek local as national coach: FFA

Football Federation Australia will be concentrating on a local replacement for dumped national coach Holger Osieck, chairman Frank Lowy said on Tuesday. Lowy said it will be a three-horse race between A-League coaches Ange Postecoglou, Graham Arnold and T
Published 16 Oct, 2013 12:00am
Indonesian tycoon takes control of Inter

Indonesian tycoon takes control of Inter

Indonesian businessman Erick Thohir has acquired a majority stake in Inter Milan, club president Massimo Moratti confirmed on Tuesday. "We have signed with Thohir," Moratti said. According to Italian press reports, Thohir will acquire a majority 70% stake
Published 16 Oct, 2013 12:00am
Row over Australia sponsor censorship claims

Row over Australia sponsor censorship claims

Cricket Australia was Tuesday accused of censoring a sponsorship message warning against mixing alcohol and sport because it conflicts with lucrative drinks deals, media reports said. The advert was to be displayed around cricket grounds during a domestic
Published 16 Oct, 2013 12:00am
Gerrard wants qualifying pain turned into gain

Gerrard wants qualifying pain turned into gain

Steven Gerrard will draw on his painful, first-hand experience of failure to inspire his England team-mates ahead of the decisive World Cup qualifier with Poland. Tuesday's meeting at Wembley is not do or die for manager Roy Hodgson's side, but anything l
Published 16 Oct, 2013 12:00am
Tendulkar to play final match at home in Mumbai

Tendulkar to play final match at home in Mumbai

Cricket's most prolific run-scorer Sachin Tendulkar will play his 200th and final test match at his home ground in Mumbai against West Indies next month before bringing the curtain down on a glorious 24-year international career. The 40-year-old Indian ba
Published 16 Oct, 2013 12:00am
French coach Bruno Metsu dies

French coach Bruno Metsu dies

French coach Bruno Metsu, best known for leading Senegal into the quarter-finals of the 2002 World Cup, has died from cancer at the age of 59, friends said on Tuesday. "He died overnight at 3:30 am," Herve Beddeleem, the executive director of BCM Gravelin
Published 16 Oct, 2013 12:00am
Robson splits with coach MacLagan

Robson splits with coach MacLagan

British number one Laura Robson has ended her coaching relationship with Miles Maclagan after just four months together. The 19-year-old started working with Maclagan, who previously helped coach Andy Murray, just ahead of the grass court season in June.
Published 16 Oct, 2013 12:00am
Premier heads cricket board as interim body named

Premier heads cricket board as interim body named

Pakistan Prime Minister Nawaz Sharif was Tuesday made patron-in-chief of the country's cricket board, while an ad-hoc committee took control of the game's administration in an effort to end months of turmoil. Pakistan's Prime Minister has appointed an int
Published 16 Oct, 2013 12:00am
Once-in-a-decade typhoon heads for Japan nuclear plant

Once-in-a-decade typhoon heads for Japan nuclear plant

A typhoon described as the "strongest in 10 years" was closing in on Japan Tuesday, on a path that will take it towards the precarious Fukushima nuclear power plant. Typhoon Wipha, packing winds of nearly 200 kilometres (125 miles) per hour near its centr
Published 16 Oct, 2013 12:00am
Russia detains Azerbaijani over Moscow murder

Russia detains Azerbaijani over Moscow murder

Russia on Tuesday detained an Azerbaijani citizen suspected of stabbing to death a Muscovite in an attack that sparked some of the country's worst anti-migrant riots in years. The suspected killer was detained just outside Moscow and was being sent for qu
Published 16 Oct, 2013 12:00am
Israel warns against nuclear compromise with Iran

Israel warns against nuclear compromise with Iran

Israel urged the world to avoid a partial deal with Iran which could see a relaxing of sanctions, as a new round of nuclear talks was launched Tuesday in Geneva. The security cabinet warned the international community against any "partial agreement that w
Published 16 Oct, 2013 12:00am
Germany's 'Gummy Bear King' dies age 90

Germany's 'Gummy Bear King' dies age 90

Hans Riegel, the man behind Germany's Haribo confectionery and much-loved gummy bears, has died aged 90 from heart failure, his office said on Tuesday. Riegel spent almost 70 years at the helm of Haribo, which was founded by his candymaker father in 1920.
Published 16 Oct, 2013 12:00am
Sweden elects first female archbishop

Sweden elects first female archbishop

The Church of Sweden announced on Tuesday that it had elected a woman as its leader for the first time in the institution's history. The Bishop of Lund, Antje Jackelen, won 55.9 percent of the votes from the 324-strong ecclesiastical college and will repl
Published 16 Oct, 2013 12:00am
US top court examines state's higher ed affirmative action ban

US top court examines state's higher ed affirmative action ban

The US Supreme Court will hear an affirmative action case Tuesday to determine whether state referendums can ban race and sex as factors in university admissions. In 2006, the US state of Michigan voted on a measure to disallow affirmative action in colle
Published 16 Oct, 2013 12:00am
Brazil crime gang threatens 'World Cup terror'

Brazil crime gang threatens 'World Cup terror'

Brazil's powerful PCC crime syndicate has threatened to launch terror-style attacks during the World Cup and presidential polls next year, the daily O Estado de Sao Paulo reported Tuesday. The so-called First Command of the Capital, which operates from ja
Published 16 Oct, 2013 12:00am
Italy rescues 370 migrants, steps up naval patrols

Italy rescues 370 migrants, steps up naval patrols

Italy's navy rescued about 370 migrants in the waters between Sicily and Libya on Tuesday as the government deployed ships, helicopters and unmanned drones to help avert further shipwrecks that have already drowned hundreds this month. A naval frigate and
Published 16 Oct, 2013 12:00am
Bomb targeting Eid worshippers kills 12 in Iraq

Bomb targeting Eid worshippers kills 12 in Iraq

A bomb ripped through a crowd of worshippers as they left a Sunni osque in Iraq Tuesday, killing 12 people, as they marked the start of the Eid-ul-Azha holiday. Three children, a policeman and an army officer were among the dead from the blast in the nort
Published 16 Oct, 2013 12:00am
EU confident of Tymoshenko release

EU confident of Tymoshenko release

The EU's Enlargement Commissioner Stefan Fuele on Tuesday said he was confident of seeing jailed ex Ukraine premier Yulia Tymoshenko released in the coming weeks. "We are not far away from Tymoshenko being released for treatment in Germany," Fuele said at
Published 16 Oct, 2013 12:00am
ICE cotton ekes out gain

ICE cotton ekes out gain

Cotton futures edged up on Monday, buoyed by a softer dollar and climbing financial markets to a second straight session of slight gains. The most-active December cotton contract on ICE Futures US closed up 0.24 cent, or 0.3 percent, at 83.61 cents a lb.
Published 16 Oct, 2013 12:00am
Shanghai copper climbs

Shanghai copper climbs

The most traded January copper contract on the Shanghai Futures Exchange climbed 0.5 percent to close at 52,150 yuan ($8,500) a tonne on Tuesday. Earlier it reached its highest in a week at 52,390 yuan. Markets waited for news about a possible end to the
Published 16 Oct, 2013 12:00am
Copper steadies

Copper steadies

Copper steadied on Tuesday as signs of progress over the US debt ceiling showdown was not enough to convince investors worried about a growing surplus to bid the red metal higher for a fourth consecutive day. There were positive comments from US senators
Published 16 Oct, 2013 12:00am
Oil tumbles on US fiscal impasse, Iran talks

Oil tumbles on US fiscal impasse, Iran talks

Oil prices tumbled ahead of the settlement as a US senator announced the Senate would suspend fiscal negotiations until House Republicans had a plan for how to proceed on the US debt limit. Prices fell on both sides of the Atlantic throughout Tuesday's se
Published 16 Oct, 2013 12:00am
Tokyo rubber futures rise 2.4 percent

Tokyo rubber futures rise 2.4 percent

Benchmark Tokyo rubber futures rose 2.4 percent on Tuesday, backed by the strength in Shanghai futures, with a record-high yuan also prompting Chinese investors to buy Japanese commodities, brokers said. The benchmark rubber contract on the Tokyo Commodit
Published 16 Oct, 2013 12:00am
Soyabeans and corn rise

Soyabeans and corn rise

US soyabean futures rebounded from a 20-month low on Monday and corn rose slightly from a 37-month low as rain was expected to stall the Midwest harvest this week followed by frigid weather which could damage crops in some areas. Prices for both commoditi
Published 16 Oct, 2013 12:00am
Gold set to languish after 2013 price slide

Gold set to languish after 2013 price slide

Analysts have slashed their 2013 gold and silver price forecasts after sharp falls earlier this year and expect them to remain weak in 2014 as the United States reins in monetary stimulus, a Reuters poll showed on Monday. For the full year, spot gold is e
Published 16 Oct, 2013 12:00am
Cocoa climbs to two-year high, sugar reverses lower

Cocoa climbs to two-year high, sugar reverses lower

Cocoa futures traded around 2-year highs on Tuesday, supported by better-than-expected demand, whereas sugar futures reversed off a nine-month high hit earlier in the session and robusta coffee futures also eased. Cocoa futures on the London and New York
Published 16 Oct, 2013 12:00am
Gold rises in New York

Gold rises in New York

Gold rose on Monday, up from a three-month low hit on Friday as US lawmakers and President Barack Obama remained unable to clinch a deal to reopen the government and avert a looming default. Talks have been largely fruitless since what appeared to be a br
Published 16 Oct, 2013 12:00am
Gold in tight range in Asia

Gold in tight range in Asia

Gold hovered near three-month lows on Tuesday as outflows from gold funds continued and as lawmakers made some progress towards resolving the US budget impasse. Gold, whose safe-haven appeal is usually burnished during times of geopolitical and economic u
Published 16 Oct, 2013 12:00am
Gold steadies in Europe

Gold steadies in Europe

Gold prices steadied on Thursday as an early drop to three-month lows tempted some buyers back to the market, but stayed under pressure as hopes that policymakers are close to resolving US debt negotiations in Washington lifted stocks and the dollar. The
Published 16 Oct, 2013 12:00am
US MIDDAY: soyabean harvest 45 percent complete, corn 31 percent

US MIDDAY: soyabean harvest 45 percent complete, corn 31 percent

Mostly dry conditions allowed US farmers to forge ahead with the harvest of soyabeans and corn in the last week, with progress in soyabeans approaching the halfway point, analysts said. The soyabean harvest was 45 percent complete as of Sunday, according
Published 16 Oct, 2013 12:00am
US MIDDAY: corn rises from three-year low

US MIDDAY: corn rises from three-year low

US corn futures jumped more than 1 percent on Tuesday on bargain buying and short-covering after prices for the feed grain hit three-year lows this week. Wheat futures retreated as investors unwound wheat/corn spreads and as an expected move by India to l
Published 16 Oct, 2013 12:00am
Eid prayer timings of twin city mosques

Eid prayer timings of twin city mosques

The Eid-ul-Adha prayers would be offered in most mosques of twin cities of Rawalpindi and Islamabad early in the morning on Wednesday. Eid prayers to be offered at 7:15am: Mufti Abdul Malik Attari will lead Eid prayers in Jamia Mosque Quba, Misrayal Road.
Published 16 Oct, 2013 12:00am
Sacrifice, tolerance: President urges for following Islamic fundamentals

Sacrifice, tolerance: President urges for following Islamic fundamentals

President Mamnoon Hussain has stressed the need to follow the Islamic fundamentals like sacrifice, love and brotherhood and religious tolerance to get the country out of various challenges, including terrorism and extremism. The President, in his message
Published 16 Oct, 2013 12:00am
WBDC holds two-day Eid Bazaar

WBDC holds two-day Eid Bazaar

The two-day Eid Bazaar of the products of women entrepreneurs organised under the auspices of Women Business Development Centre (WBDC) Peshawar attracted a large number of shoppers. Women Business Development Centre (WBDC) is a project of Small & Medium E
Published 16 Oct, 2013 12:00am
Shahbaz orders foolproof security on Eid

Shahbaz orders foolproof security on Eid

Punjab Chief Minister Muhammad Shahbaz Sharif on Tuesday has ordered foolproof security arrangements in the province on the occasion of Eid-ul-Azha. Issuing instructions to Inspector General Police and Provincial Home Secretary, the Chief Minister directe
Published 16 Oct, 2013 12:00am
Death of Pakistan Movement worker condoled

Death of Pakistan Movement worker condoled

Khyber Pakhtunkhwa Governor Engineer Shaukatullah has condoled the demise of veteran politician and social figure, Abdul Karim Jan Khan, who was laid to rest on Tuesday. The deceased was a worker of Pakistan Movement. The Governor, in a condolence message
Published 16 Oct, 2013 12:00am
KMC digs 20 ditches for offal disposal

KMC digs 20 ditches for offal disposal

The Karachi Metropolitan Corporation (KMC) has made arrangements for disposing of offal and other animal waste into ditches dug at around 20 different sites in the city, said KMC Administrator Saqib Ahmad Soomro at a meeting held on Tuesday to finalise ar
Published 16 Oct, 2013 12:00am
NDMA completes relief operation in quake-hit areas

NDMA completes relief operation in quake-hit areas

Chairman National Disaster Management Authority (NDMA) Major General Saeed Aleem has said NDMA has almost completed the relief operation successfully in Balochistan with co-ordination of its provincial unit' Pakistan Army and provincial government. In an
Published 16 Oct, 2013 12:00am
Any fall in sacrificial animals' sales unlikely

Any fall in sacrificial animals' sales unlikely

Tanners and leather goods makers ruled out any fall in cattle sales during this Eid-ul-Azha owing high prices of sacrificial animals. They said businessmen are not expecting any major drop in cattle slaughter and leather collection. However, some of the l
Published 16 Oct, 2013 12:00am
Security beefed up in Quetta

Security beefed up in Quetta

Police stepped up security in Quetta on the eve of Eidul Adha to prevent terrorist attack in the provincial capital. According to sources, police finalised a security plan, under which 2, 500 policemen will be deployed in the city to protect Eid congregat
Published 16 Oct, 2013 12:00am
Eid prayers to be offered at over 200 places in Hyderabad

Eid prayers to be offered at over 200 places in Hyderabad

The Eidul Azha prayera will be offered at more than 300 mosques and Eidgahs with at least 50 big congregations in the district. The biggest congregation will be held at Eidgah Gulistan-i-Baldia in Qasimabad followed by the congregations at Bagh-i-Mustafa
Published 16 Oct, 2013 12:00am
Woman, brother-in-law killed

Woman, brother-in-law killed

A woman and her brother-in-law were killed in Qasimabad here on Tuesday in what the police suspects is an incident of honour killing. SDPO Qasimabad ASP Fahad Ahmed told the APP that the killers cut the 19-year-old Rani Khoso's throat after stabbing her m
Published 16 Oct, 2013 12:00am
Mild quake hits Karachi

Mild quake hits Karachi

Earthquake of mild intensity was felt in Karachi and several other adjoining areas during Monday and Tuesday night. According to Meteorological Department, the jolts were measured of 4.6 magnitudes at Richter scale. The epicentre was located 39 kilometres
Published 16 Oct, 2013 12:00am
Balochistan: FC to have police powers for one more month

Balochistan: FC to have police powers for one more month

The Balochistan government on Tuesday gave another month's extension of police powers to the Frontier Corps. A spokesman for Balochistan government told APP here that the FC would exercise police powers upto November 16 next under Article 5 of the Constit
Published 16 Oct, 2013 12:00am
The plight of Indian Muslims - I

The plight of Indian Muslims - I

At least 19 people were killed and another 40, women and children among them, injured in the latest outbreak of anti-Muslim riots in India's UP state last month. The administration had to call in the army and paramilitary forces, and impose a curfew in Mu
Published 16 Oct, 2013 12:00am
Sleepless night for fearful Filipinos after quake

Sleepless night for fearful Filipinos after quake

Lynlyn Empleo doubts she will be able to sleep tonight after experiencing a powerful earthquake that jolted her central Philippine province of Cebu. Empleo, 26, was feeding her year-old baby when tables and chairs at home shook violently and figurines on
Published 16 Oct, 2013 12:00am
Fast and malodorous: Bangkok's 'khlong' boat network

Fast and malodorous: Bangkok's 'khlong' boat network

Every morning, tens of thousands of Bangkok's most rushed, reckless or cash-strapped commuters hop onto its "khlong" boats - plying the main canal in a speedy, if not fragrant, bid to avoid the city's notorious road congestion. "I take the boat because it
Published 16 Oct, 2013 12:00am
Tariff rationalisation

Tariff rationalisation

There appears to be some misperceptions about the recent tariff rationalisation in electricity and increase in the prices of furnace oil. Most of the newspapers and media outlets are depicting as if the government is increasing the tariff of the electrici
Published 16 Oct, 2013 12:00am
Eid in an atmosphere of fear

Eid in an atmosphere of fear

As the faithful celebrate the festival of Eid-ul-Azha today the threat of violence would be weighing heavily on their minds. Intelligence circles have warned of bomb explosions at Eid prayer congregations. Special measures have been taken to ensure the da
Published 16 Oct, 2013 12:00am
Challenge of weak external position

Challenge of weak external position

In its latest report titled "South Asia Economic Focus", the World Bank has identified weak external position as the most pressing short-term economic challenge for Pakistan. It has noted that while current account deficit remained small due to a marginal
Published 16 Oct, 2013 12:00am
Venezuela frees seized oil ship and crew

Venezuela frees seized oil ship and crew

The Malaysian company that owns a US-hired oil survey ship detained last week by Venezuela in a territorial dispute with neighbouring Guyana said on Tuesday the boat and its 36-member crew had been released. SapuraKencana Petroleum said in a statement it
Published 16 Oct, 2013 12:00am
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