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Nov 21, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2013-11-02
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 144,264 tonnes of cargo comprising 128,026 tonnes of import cargo and 16,238 tonnes of export cargo including 4,424 loaded and empty containers during the last 24 hours ended at 0700 hours on Friday. The total import cargo of 128,
Published 02 Nov, 2013 12:00am
Cotton market: trade activity slows down

Cotton market: trade activity slows down

Trading activity came down on the cotton market on Friday as leading mills and spinners hoping for decline in rates, dealers said. The official spot rate lost further Rs 50 to Rs 6550, they said. Prices of seed cotton in Sindh per 40 kg were unchanged at
Published 02 Nov, 2013 12:00am
Turkey says mindful of Iraqi concerns on Kurdish oil projects

Turkey says mindful of Iraqi concerns on Kurdish oil projects

Turkey will not import energy from Iraq without the approval of the federal government in Baghdad, aware of its concerns after the autonomous Kurdish region said it would build a second oil pipeline to Turkey, Energy Minister Taner Yildiz said on Friday.
Published 02 Nov, 2013 12:00am
Russian Prime Minister plays down 'gas war' talk, warns Ukraine on EU

Russian Prime Minister plays down 'gas war' talk, warns Ukraine on EU

Russian Prime Minister Dmitry Medvedev said he saw no reason for Moscow to cut gas supplies to Ukraine over an unpaid bill for now, playing down talk of an imminent "gas war" that might disrupt flows to Europe. In an interview with Reuters, he denied Russ
Published 02 Nov, 2013 12:00am
Citigroup, J.P Morgan caught up in global forex probe

Citigroup, J.P Morgan caught up in global forex probe

Citigroup and J.P. Morgan Chase said Friday they have been approached by US and foreign authorities investigating possible manipulation in the foreign exchange markets. In filings with the Securities and Exchange Commission, both US banks reported having
Published 02 Nov, 2013 12:00am
Citigroup, J.P Morgan caught up in global forex probe

Citigroup, J.P Morgan caught up in global forex probe

Citigroup and J.P. Morgan Chase said Friday they have been approached by US and foreign authorities investigating possible manipulation in the foreign exchange markets. In filings with the Securities and Exchange Commission, both US banks reported having
Published 02 Nov, 2013 12:00am
Banks to repay $14.48 billion of ECB crisis loans

Banks to repay $14.48 billion of ECB crisis loans

Banks will return 10.651 billion euros ($14.48 billion) of crisis loans early to the European Central Bank next week, the ECB said on Friday, draining far more liquidity out of the system than expected. By repaying the ECB's crisis funds early, banks are
Published 02 Nov, 2013 12:00am
Banks to repay $14.48 billion of ECB crisis loans

Banks to repay $14.48 billion of ECB crisis loans

Banks will return 10.651 billion euros ($14.48 billion) of crisis loans early to the European Central Bank next week, the ECB said on Friday, draining far more liquidity out of the system than expected. By repaying the ECB's crisis funds early, banks are
Published 02 Nov, 2013 12:00am
Portuguese lawmakers back budget for last year of bailout

Portuguese lawmakers back budget for last year of bailout

Lawmakers gave outline approval on Friday to Portugal's 2014 budget, imposing another round of austerity on hard-pressed voters as the country works towards exiting its international bailout. The two parties of the centre-right ruling coalition, with 132
Published 02 Nov, 2013 12:00am
Fitch upgrades Spain outlook to stable, affirms 'BBB' rating

Fitch upgrades Spain outlook to stable, affirms 'BBB' rating

Fitch Ratings said Friday it was upgrading the outlook on Spain's investment-grade "BBB" rating to "stable" thanks to progress in reforms and improved export performance. "Spain has improved its policy track record," said Fitch in a statement, adding that
Published 02 Nov, 2013 12:00am
Fitch upgrades Spain outlook to stable, affirms 'BBB' rating

Fitch upgrades Spain outlook to stable, affirms 'BBB' rating

Fitch Ratings said Friday it was upgrading the outlook on Spain's investment-grade "BBB" rating to "stable" thanks to progress in reforms and improved export performance. "Spain has improved its policy track record," said Fitch in a statement, adding that
Published 02 Nov, 2013 12:00am
China's economy to sustain 'mid to high speed' growth: premier

China's economy to sustain 'mid to high speed' growth: premier

China's economy will keep growing at mid to high speed in coming years, Premier Li Keqiang said on Friday, promising to lead the world's second-largest economy on a road of "comprehensive reform". Speaking to a group of Chinese and foreign business leader
Published 02 Nov, 2013 12:00am
South Korea's exports jump, inflation at 14-year low

South Korea's exports jump, inflation at 14-year low

South Korea's exports jumped 7.3 percent in October, turning around a decline the month before, while inflation dropped to its lowest level for 14 years, government data showed Friday. Exports, which account for around 50 percent of GDP in Asia's fourth l
Published 02 Nov, 2013 12:00am
Indonesians strike nationwide for pay hike

Indonesians strike nationwide for pay hike

Tens of thousands of workers went on strike across Indonesia Friday for a second straight day, calling for huge salary hikes as Southeast Asia's top economy enjoys a prolonged boom. But turnout was lower than the millions unions had promised and the labou
Published 02 Nov, 2013 12:00am
Ukraine cut deeper into junk status by S&P

Ukraine cut deeper into junk status by S&P

Ratings agency Standard & Poor's on Friday downgraded its assessment of Ukraine's creditworthiness deeper into junk status due to concerns about the government's rising external financing needs. The downgrade is the latest blow to the government of Presid
Published 02 Nov, 2013 12:00am
Ukraine cut deeper into junk status by S&P

Ukraine cut deeper into junk status by S&P

Ratings agency Standard & Poor's on Friday downgraded its assessment of Ukraine's creditworthiness deeper into junk status due to concerns about the government's rising external financing needs. The downgrade is the latest blow to the government of Presid
Published 02 Nov, 2013 12:00am
RBS avoids break-up with 38 billion sterling 'internal bad bank'

RBS avoids break-up with 38 billion sterling 'internal bad bank'

Royal Bank of Scotland is to create an internal "bad bank" to fence off its riskiest assets, part of a raft of measures designed to heal its relationship with the British government and speed up its eventual privatisation. Britain is keen to offload its s
Published 02 Nov, 2013 12:00am
RBS avoids break-up with 38 billion sterling 'internal bad bank'

RBS avoids break-up with 38 billion sterling 'internal bad bank'

Royal Bank of Scotland is to create an internal "bad bank" to fence off its riskiest assets, part of a raft of measures designed to heal its relationship with the British government and speed up its eventual privatisation. Britain is keen to offload its s
Published 02 Nov, 2013 12:00am
Worldwide factory activity picks up in October

Worldwide factory activity picks up in October

Manufacturing expanded around the world in October, with business surveys on Friday showing US factory output growing at its fastest pace in 2-1/2 years and Asian manufacturers reporting the fastest upturn in months, led by China. The latest batch of purc
Published 02 Nov, 2013 12:00am
Gift glut gives Egypt oil trade new headaches

Gift glut gives Egypt oil trade new headaches

Egypt has gone from fuel famine to glut thanks to gifts from Gulf monarchs since the army removed the Islamist president in July - and that is giving the state oil company and foreign traders new headaches. The Egyptian General Petroleum Corp (EGPC), faci
Published 02 Nov, 2013 12:00am
October sales miss expectations at Chrysler, Ford

October sales miss expectations at Chrysler, Ford

US October auto sales for the three Detroit-based automakers rose by double-digits from a year earlier, but results at Ford Motor Co and Chrysler Group LLC narrowly missed analysts' expectations. Automakers reporting monthly sales on Friday were expected
Published 02 Nov, 2013 12:00am
October sales miss expectations at Chrysler, Ford

October sales miss expectations at Chrysler, Ford

US October auto sales for the three Detroit-based automakers rose by double-digits from a year earlier, but results at Ford Motor Co and Chrysler Group LLC narrowly missed analysts' expectations. Automakers reporting monthly sales on Friday were expected
Published 02 Nov, 2013 12:00am
South Africa platinum firms get fresh strike ultimatum

South Africa platinum firms get fresh strike ultimatum

South Africa's embattled platinum sector faced the prospect of another tidal wave of strike action Friday as angry unionists issued an end of month deadline to meet wage demands. The sector's main union AMCU told AFP that months of fraught negotiations wi
Published 02 Nov, 2013 12:00am
Bangladesh garment workers reject proposed pay hike

Bangladesh garment workers reject proposed pay hike

Bangladeshi garment workers on Thursday rejected a proposed 50 percent wage rise and there were fears of fresh strikes in the crisis-hit industry if the impasse was not quickly resolved. A meeting of a board of government officials, garment manufacturers
Published 02 Nov, 2013 12:00am
IMF warns Africa on financial shocks

IMF warns Africa on financial shocks

The International Monetary Fund warned sub-Saharan Africa's rapidly growing economies on Thursday that they need to do more to protect themselves against financial shocks. In a sign of the continent's growing role in global financial markets, the IMF urge
Published 02 Nov, 2013 12:00am
Canada's manufacturing growth at highest in 2-1/2 years

Canada's manufacturing growth at highest in 2-1/2 years

The pace of growth in the Canadian manufacturing sector picked up in October to its strongest level in two and a half years as firms saw greater demand for their products, data showed on Friday. The RBC Canadian Manufacturing Purchasing Managers' index (P
Published 02 Nov, 2013 12:00am
ING cuts state ties in securities deal, paves way for repayment

ING cuts state ties in securities deal, paves way for repayment

The Dutch state said on Friday it will sell a 6.4 billion euro ($8.7 billion) portfolio of US mortgage securities that it took over from ING during the financial crisis, paving the way for the bank to repay its state aid ahead of schedule. The original ar
Published 02 Nov, 2013 12:00am
ING cuts state ties in securities deal, paves way for repayment

ING cuts state ties in securities deal, paves way for repayment

The Dutch state said on Friday it will sell a 6.4 billion euro ($8.7 billion) portfolio of US mortgage securities that it took over from ING during the financial crisis, paving the way for the bank to repay its state aid ahead of schedule. The original ar
Published 02 Nov, 2013 12:00am
Irish consumer sentiment hits highest in 6 years

Irish consumer sentiment hits highest in 6 years

Irish consumer sentiment rose to its highest in more than six years in October after jumping the previous month, with hard-hit taxpayers weathering another austerity budget as the country prepares to exit its international bailout. The KBC Bank Ireland/ES
Published 02 Nov, 2013 12:00am
Nikkei hits one-week low, hurt by Sony, Nitto Denko

Nikkei hits one-week low, hurt by Sony, Nitto Denko

Japan's Nikkei fell to a one-week closing low on Friday, dragged down by Sony Corp, Apple Inc supplier Nitto Denko Corp and NTT Data Corp after they sharply lowered their earnings guidance. Gains in Panasonic Corp and mobile operator SoftBank Corp offered
Published 02 Nov, 2013 12:00am
Friday's early trade in New York: major US stocks indices mixed

Friday's early trade in New York: major US stocks indices mixed

The major US stock indices traded mixed on Friday as traders digested October's surprisingly strong manufacturing growth, with the Dow and the S&P 500 not far from record highs reached earlier this week. American International Group Inc fell 6.3 percent t
Published 02 Nov, 2013 12:00am
Wall Street ends session lower but posts gains for October

Wall Street ends session lower but posts gains for October

US stocks finished lower on Thursday as the Federal Reserve's statement the day before added to investors' anxiety about the timing of a pullback in its stimulus program. While it was a second consecutive day of losses for the market, all three major inde
Published 02 Nov, 2013 12:00am
Australian shares slip

Australian shares slip

Australian shares fell 0.3 percent on Friday, treading cautiously into a new month as global anxiety over the US Federal Reserve's stimulus-tapering plans checked demand for riskier assets. The S&P/ASX 200 index fell 14.4 points to finish the week at 5,41
Published 02 Nov, 2013 12:00am
Bond prices fall

Bond prices fall

US Treasuries prices dipped slightly on Thursday as a surprisingly strong report on Midwest business activity soothed worries about sluggish fourth-quarter growth after the recent federal government shutdown. Despite Thursday's decline, the bond market wa
Published 02 Nov, 2013 12:00am
Bond prices fall

Bond prices fall

US Treasuries prices dipped slightly on Thursday as a surprisingly strong report on Midwest business activity soothed worries about sluggish fourth-quarter growth after the recent federal government shutdown. Despite Thursday's decline, the bond market wa
Published 02 Nov, 2013 12:00am
Hong Kong shares rise, China shares eke out weekly gain

Hong Kong shares rise, China shares eke out weekly gain

Hong Kong shares ended slightly higher on Friday, with the Chinese banking sector buoyed by declining money rates in the mainland and a pair of surveys showing solid manufacturing activity in the world's second-largest economy. China shares eked out their
Published 02 Nov, 2013 12:00am
BSE index surges to record high

BSE index surges to record high

India's benchmark BSE index surged to a record on Friday as bluechips rallied on the back of strong foreign buying, in a remarkable turnaround from two months earlier, when the rupee hit record lows and threatened a crisis of confidence. The index, also k
Published 02 Nov, 2013 12:00am
RBS and Renault knock European shares off five-year highs

RBS and Renault knock European shares off five-year highs

European stock markets eased off five year highs on Friday, after fresh signs of corporate earnings weakness pegged back Royal Bank of Scotland and carmaker Renault. RBS was the top FTSEurofirst 300 faller after posting a surprise loss, missing profit for
Published 02 Nov, 2013 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks fell 0.5 percent on Friday, paced by slides in CTBC Financial as its deal to acquire a local insurer was seen expensive. CTBC Financial, parent of Taiwan's top credit card issuer, shed 2.3 percent, while the financial subindex was off 0.8 pe
Published 02 Nov, 2013 12:00am
Southeast Asian markets: Indonesia, Thailand underperform on week

Southeast Asian markets: Indonesia, Thailand underperform on week

Indonesian shares fell for a second session on Friday amid uncertainties over the US stimulus cut, while Thai stocks retreated in thin market due to rising domestic political tension. Jakarta's Composite Index (JCI) closed down 1.7 percent at 4,432.59, th
Published 02 Nov, 2013 12:00am
Vodafone keeps FTSE afloat on M&A speculation

Vodafone keeps FTSE afloat on M&A speculation

Heavyweight Vodafone kept Britain's top share index afloat on Friday as speculation about a bid from US peers AT&T fuelled a rally in Europe's largest mobile carrier. Shares in Vodafone rose 3.2 percent to 231 pence, adding 13 points to the FTSE 100 after
Published 02 Nov, 2013 12:00am
Indian rupee tumbles

Indian rupee tumbles

The Indian rupee dropped to a three-week low on Friday while also posting its biggest weekly fall in two months as a sharp sell-off in the euro and broad rally in the greenback hurt amid the absence of any fresh domestic triggers. The rupee which has been
Published 02 Nov, 2013 12:00am
Euro buckles in Asia

Euro buckles in Asia

The euro dropped to a two-week low on Friday after a surprise slowdown in euro zone inflation sparked speculation the European Central Bank may take action to bolster the economy. Euro zone inflation dropped to a four-year low of 0.7 percent in October, c
Published 02 Nov, 2013 12:00am
Euro struggles in London

Euro struggles in London

The euro fell to a two-week low against the dollar on Friday, extending losses to a fifth day as slowing euro zone inflation led some in the market to forecast a near-term European Central Bank rate cut. A cut would hurt the euro's rate advantage over oth
Published 02 Nov, 2013 12:00am
Early trade in New York: Euro falls to two-week low

Early trade in New York: Euro falls to two-week low

The euro fell to a two-week low against the dollar on Friday, extending losses to a fifth day as slowing euro zone inflation raised expectations of a European Central Bank rate cut by the end of the year. With a rate cut seen eroding the euro's interest r
Published 02 Nov, 2013 12:00am
Euro slumps in New York

Euro slumps in New York

The euro was headed for its biggest one-day drop against the dollar in more than six months on Thursday as a sharp decline in eurozone inflation and record high unemployment stoked speculation that the European Central Bank may ease further. Weakness in t
Published 02 Nov, 2013 12:00am
Yuan little changed

Yuan little changed

China's yuan is set to record its biggest weekly loss in more than 10 months against the dollar, after the central bank set a weaker midpoint for the fifth consecutive day to reflect a rebound in the global dollar index. The People's Bank of China (PBOC)
Published 02 Nov, 2013 12:00am
Indonesian rupiah leads Asia FX slides

Indonesian rupiah leads Asia FX slides

The Indian rupee and Indonesian rupiah led slides among emerging Asian currencies on Friday with regional units heading for weekly losses as solid US data caused some investors to factor in a less dovish stance for the Federal Reserve. China's manufacturi
Published 02 Nov, 2013 12:00am
Sterling touches two-week low versus dollar

Sterling touches two-week low versus dollar

Sterling slid to a two-week low against the dollar on Friday after a survey showed UK manufacturing growth slowed slightly in October, contrasting with an improvement in an equivalent US survey. The UK's manufacturing purchasing managers' index (PMI) fell
Published 02 Nov, 2013 12:00am
Ancelotti wants balance to Bale, Ronaldo brilliance

Ancelotti wants balance to Bale, Ronaldo brilliance

Real Madrid coach Carlo Ancelotti will be looking for more of the same from his star-studded front line when his team travel across town to face Rayo Vallecano in La Liga on Saturday. The Italian lauded the offensive explosion of his front three of Gareth
Published 02 Nov, 2013 12:00am
Fans cheer Botham at start of Sri Lanka trek

Fans cheer Botham at start of Sri Lanka trek

Cricket legend Ian Botham was cheered on by hundreds of Sri Lankans Friday as he began a 100-mile trek from the island's war-ravaged north to its tsunami-battered southern coast. The Englishman promised to combat the sapping heat with plenty of night-time
Published 02 Nov, 2013 12:00am
Pace bowler Mills to lead New Zealand in Sri Lanka

Pace bowler Mills to lead New Zealand in Sri Lanka

Swing bowler Kyle Mills will captain New Zealand for the first time on his country's limited overs tour of Sri Lanka later this month after Kane Williamson was ruled out with a broken and dislocated thumb. Williamson suffered the injury in Bangladesh earl
Published 02 Nov, 2013 12:00am
Costa, Villa keep Atletico on Barcelona's heels

Costa, Villa keep Atletico on Barcelona's heels

Atletico Madrid kept pace with leaders Barcelona and restored their five-point lead over third-placed city rivals Real when Diego Costa and David Villa each scored a penalty in a 2-1 win at Granada in La Liga on Thursday. Atletico, King's Cup winners last
Published 02 Nov, 2013 12:00am
Grosjean fastest in Abu Dhabi first practice

Grosjean fastest in Abu Dhabi first practice

Romain Grosjean put Lotus on top of the timesheets in first practice for the Abu Dhabi Formula One Grand Prix on Friday with newly-crowned four-times world champion Sebastian Vettel third fastest. The Frenchman, comfortably faster than team mate Kimi Raik
Published 02 Nov, 2013 12:00am
MCG on track for Boxing Day world record crowd

MCG on track for Boxing Day world record crowd

All tickets for the opening day of the Ashes Boxing Day Test at the Melbourne Cricket Ground have sold, raising the prospect of a world record crowd, Cricket Australia said Friday. The rush to see Australia face England in the fourth Test has raised the p
Published 02 Nov, 2013 12:00am
Godin extends Atletico Madrid deal

Godin extends Atletico Madrid deal

Uruguayan international defender Diego Godin has extended his contract with Atletico Madrid until 2018, the club confirmed on Friday. "This is my home. They make me feel spectacular despite the fact that I am far away from my country, home and family," Go
Published 02 Nov, 2013 12:00am
Djokovic into Paris Masters semis

Djokovic into Paris Masters semis

Novak Djokovic swept into the semi-finals of the Paris Masters on Friday with a rapid-fire 6-1, 6-4 win over Stanislas Wawrinka. In the first of the quarter-finals, the Serbian second seed got off to the perfect start with a break in the second game to le
Published 02 Nov, 2013 12:00am
England top order dust off cobwebs on flat Perth track

England top order dust off cobwebs on flat Perth track

Joe Root could not make the most of a flat Perth track but England's other batsmen dusted off the cobwebs in the opening warm-up match of the Ashes campaign against Australia on Friday. Michael Carberry (78), Ian Bell (77 not out) and Jonathan Trott (64 n
Published 02 Nov, 2013 12:00am
Arsenal set for Liverpool title test

Arsenal set for Liverpool title test

Arsene Wenger's Arsenal side face a major examination of their Premier League title credentials when they face Liverpool at the Emirates Stadium on Saturday after successive home defeats. The Gunners go into the latest round of matches at the top of the t
Published 02 Nov, 2013 12:00am
Ashour defies injury to reach world semi-finals

Ashour defies injury to reach world semi-finals

World champion Ramy Ashour admitted that he had to overcome an injury as well as a history-making opponent before reaching the semi-finals in defence of his title on Thursday. The Egyptian hinted that he was happy to have played at all after winning 11-9,
Published 02 Nov, 2013 12:00am
Clarke reprimanded for dissent in Sheffield Shield

Clarke reprimanded for dissent in Sheffield Shield

Australia captain Michael Clarke has been reprimanded for showing dissent at an umpire's decision in a Sheffield Shield match, the country's cricket board said on Friday. The Australian captain was reported on Thursday for using the 'T' sign", the standar
Published 02 Nov, 2013 12:00am
Obama meets Maliki as war still tears Iraq

Obama meets Maliki as war still tears Iraq

President Barack Obama welcomes Iraq's Prime Minister Nuri al-Maliki to the White House on Friday, as sectarian violence in the country hits its deadliest peak since April 2008. The Oval Office talks take place nearly two years after the last American tro
Published 02 Nov, 2013 12:00am
UN feeds record 3.3 million Syrians but malnutrition rising

UN feeds record 3.3 million Syrians but malnutrition rising

The United Nations delivered food to a record 3.3 million people in Syria in October, up from 2.7 million the previous month, but said on Friday civilians were going hungry in besieged areas that remain inaccessible. Embattled parts of Damascus and its ru
Published 02 Nov, 2013 12:00am
Turkey, Iran signal thaw in ties amid mutual concern on Syria

Turkey, Iran signal thaw in ties amid mutual concern on Syria

Turkey and Iran said on Friday they had common concerns about the increasingly sectarian nature of Syria's civil war, signalling a thaw in a key Middle Eastern relationship strained by stark differences over the conflict. Iran has been a staunch ally of S
Published 02 Nov, 2013 12:00am
Kerry to visit Egypt, tensions high before Morsi trial

Kerry to visit Egypt, tensions high before Morsi trial

US Secretary of State John Kerry will visit Egypt a day before deposed Islamist President Mohamed Morsi goes on trial, the next likely flashpoint in the struggle between his Muslim Brotherhood and the army-backed interim government. Several hundred Islami
Published 02 Nov, 2013 12:00am
Biden, Kerry urge Senate to go slow on Iran sanctions

Biden, Kerry urge Senate to go slow on Iran sanctions

US Vice President Joe Biden and other top administration officials met with senior Democrats in a bid to persuade the Senate to hold off on new Iran sanctions, his office said Friday. With Washington negotiating with Tehran's new leadership over the Islam
Published 02 Nov, 2013 12:00am
India election rally bomber dies of injuries

India election rally bomber dies of injuries

A bomber who blew himself up while trying to evade arrest at a rally by Indian opposition leader Narendra Modi has died of his injuries in hospital, officials said Friday. Ainul Ansari died late Thursday, four days after suffering serious brain injuries i
Published 02 Nov, 2013 12:00am
At least two injured in LA airport shooting

At least two injured in LA airport shooting

At least two people were injured Friday in a shooting incident at Los Angeles' international airport, parts of which were evacuated as police swarmed into the area, officials and reports said. But police said there was "no mass casualty incident" at the a
Published 02 Nov, 2013 12:00am
Enrolment in Obamacare very small in first days

Enrolment in Obamacare very small in first days

Enrolment in health insurance plans on the troubled Obamacare website was very small in the first couple of days of operation, with just 248 Americans signing up, according to documents released on Thursday by a US House of Representatives committee. The
Published 02 Nov, 2013 12:00am
Enrolment in Obamacare very small in first days

Enrolment in Obamacare very small in first days

Enrollment in health insurance plans on the troubled Obamacare website was very small in the first couple of days of operation, with just 248 Americans signing up, according to documents released on Thursday by a US House of Representatives committee. The
Published 02 Nov, 2013 12:00am
De Villiers, prolific French spy author dies

De Villiers, prolific French spy author dies

Prolific spy novelist Gerard De Villiers, the creator of the top-selling SAS series with a hero often described as France's answer to James Bond, has died aged 83 in Paris. Friends and family said he had died on Thursday after being diagnosed with cancer
Published 02 Nov, 2013 12:00am
Japan, Russia agree on next step toward peace treaty

Japan, Russia agree on next step toward peace treaty

Foreign ministers from Japan and Russia on Friday agreed to hold a vice ministerial-level meeting early next year to work toward the resolution of an island dispute and signing of a peace treaty formally ending their World War Two hostilities. Tokyo and M
Published 02 Nov, 2013 12:00am
China accuses Japan of 'dangerous provocation' at sea

China accuses Japan of 'dangerous provocation' at sea

Beijing's military accused Tokyo of a "highly dangerous provocation" by interfering in Chinese live-fire drills in the Pacific last week, warning that Japanese lives could be at stake, state media reported Friday. Japanese ships and aircraft tailed Chines
Published 02 Nov, 2013 12:00am
Sikhs demand UN probe into 1984 India 'genocide'

Sikhs demand UN probe into 1984 India 'genocide'

Thousands of Sikhs from across the globe rallied Friday at the UN's Geneva base, demanding an international investigation of a deadly wave of violence against their community in India in 1984. Sikh activists say the killings 29 years ago were state-sponso
Published 02 Nov, 2013 12:00am
ICE cotton falls for 10th session, finishes month down to 11.5 percent

ICE cotton falls for 10th session, finishes month down to 11.5 percent

Cotton futures edged down on Thursday, marking their 10 down session, bringing their monthly decline to 11.5 percent under pressure from harvests and investor liquidation. The most-active December cotton contract on ICE Futures US closed down 0.66 cent, o
Published 02 Nov, 2013 12:00am
Shanghai copper climbs

Shanghai copper climbs

The most traded January copper contract on the Shanghai Futures Exchange climbed 0.79 percent to close at 52,240 yuan ($8,600) a tonne on Friday, having hit its highest in more than a week at 52,290 yuan after a strong Chinese manufacturing sector survey
Published 02 Nov, 2013 12:00am
Copper steadies

Copper steadies

Copper steadied on Friday as a strong dollar cut back earlier gains from strong Chinese manufacturing data, which reinforced expectations for economic stability in the world's top metals consumer. China's manufacturing sector grew at its fastest pace in 1
Published 02 Nov, 2013 12:00am
Tokyo rubber futures down

Tokyo rubber futures down

Benchmark Tokyo rubber futures fell for a second day on Friday ahead of the three-day weekend, as an improvement in Chinese manufacturing activity failed to provide support. The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for April d
Published 02 Nov, 2013 12:00am
Corn sets three-year low

Corn sets three-year low

US corn futures slumped to their lowest levels in more than three years on Thursday as the large harvest under way in the United States overshadowed blockbuster export sales. An influx of grain from the advancing harvest was expected to replenish crop inv
Published 02 Nov, 2013 12:00am
Palm oil hits new one-year high

Palm oil hits new one-year high

Malaysian palm oil futures hit a fresh one-year high on Friday, as strong Asian demand coupled with lower production expectations supported prices for a fifth consecutive session. Both Malaysia and Indonesia, which account for the lion's share of global p
Published 02 Nov, 2013 12:00am
ICE arabica coffee ekes out gain

ICE arabica coffee ekes out gain

Arabica coffee on ICE eked out its first gain in 14 sessions on Friday as light profit-taking lifted prices from the day's 4-1/2-year low, as robusta coffee recovered from an over three-year low set as big output weighed. Cocoa futures posted their bigges
Published 02 Nov, 2013 12:00am
Gold drops 1.4 percent in New York

Gold drops 1.4 percent in New York

Gold and other precious metals fell on Thursday as commodity funds sold to square books at the end of October, and as investors kept selling after the Federal Reserve's latest policy outlook offered few surprises. Gold's daily decline was the second bigge
Published 02 Nov, 2013 12:00am
Gold flat in Asia

Gold flat in Asia

Gold was flat on Friday, trading close to its lowest in nearly two weeks after sharp losses in the previous session caused by month-end profit taking, strong US economic data and a higher dollar. Spot gold edged up 0.1 percent to $1,324.61 an ounce by 064
Published 02 Nov, 2013 12:00am
Gold hits two-week low in European trade

Gold hits two-week low in European trade

Gold fell to a two-week low on Friday and headed for a weekly drop as upbeat US economic data lifted the dollar, raising anxiety over the Federal Reserve's future course. The metal was headed for a 2.8 percent weekly drop, after climbing for two consecuti
Published 02 Nov, 2013 12:00am
US MIDDAY: corn slides

US MIDDAY: corn slides

Chicago Board of Trade (CBOT) corn futures fell to a fresh three-year low on Friday as expectations of a record-large US corn crop took a toll on prices. Soyabeans and wheat were nearly flat in consolidation trading ahead of the weekend and after the whea
Published 02 Nov, 2013 12:00am
US MIDDAY: gold tumbles

US MIDDAY: gold tumbles

Gold fell to a three-week low on Friday and headed for its worst week since mid-September as upbeat US economic data boosted the dollar, raising anxiety over the Federal Reserve's future monetary policy course. The metal was headed for a 3.4 percent weekl
Published 02 Nov, 2013 12:00am
Cash, valuables worth Rs 2.5 million looted

Cash, valuables worth Rs 2.5 million looted

Some unidentified persons took away ornaments, cash and valuables worth Rs 2.5 million from the residence of Rauf Tahir, former advisor to Chief Minister Punjab Shahbaz Sharif and eminent journalist on Friday night. According to details, spouse of Rauf Ta
Published 02 Nov, 2013 12:00am
Rangers arrest 14 suspects

Rangers arrest 14 suspects

Pakistan Rangers Sindh on Friday claimed to have arrested 14 suspected criminals during separate raids in various parts of the city. According to details, the raids were conducted at Gulshan-e-Hadeed, Lyari, Mussa Colony, Khuda ki Basti, Phase 2, Rasheeda
Published 02 Nov, 2013 12:00am
SHC bars authorities from removal of Dow university vice chancellor

SHC bars authorities from removal of Dow university vice chancellor

Sindh High Court (SHC) on Friday barred the provincial authorities from removing vice chancellor of Dow University of Health Science (DUHS) from his office. The directive was issued by a division bench of SHC, headed by Justice Muhammad Ali Mazhar, which
Published 02 Nov, 2013 12:00am
Stiff security plan during Muharram finalised

Stiff security plan during Muharram finalised

Rangers, have chalked out stiff security plan to check the possibilities of any untoward situation in Karachi during Muharram. According to details, a high level security meeting was held in wake of forthcoming Muharram-ul-Harram at Pakistan Rangers Sindh
Published 02 Nov, 2013 12:00am
Non-release of funds for five CETPs criticised

Non-release of funds for five CETPs criticised

President Pakistan Tanners Association (PTA-S.Z) Environment Society and Vice President FPCCI, Gulzar Firoz, has expressed concern over non release of funds for five Combined Effluent Treatment Plants (CETP) by Sindh government. He pointed out that Chief
Published 02 Nov, 2013 12:00am
Fayon to participate in London Fashion Week

Fayon to participate in London Fashion Week

Fayon by Kashif Sattar Grawal has progressed to the fashion scene in no time. The charismatic brand is know for it versatility and crafty art work on the fits. Fayon by KSG will participate in the upcoming London Fashion Week. Fayon is pure Pakistani bran
Published 02 Nov, 2013 12:00am
Joint Pak Navy, PAF maritime exercise concludes

Joint Pak Navy, PAF maritime exercise concludes

A joint Pak Navy-PAF Maritime Exercise SEAHAWK-I concluded on Friday. The joint exercise was conducted in Arabian Sea from 28th to 31st October, 2013. Pak Navy surface / air units, coastal stations, PAF combat aircraft and surveillance assets participated
Published 02 Nov, 2013 12:00am
MQM rejects delimitations on political basis

MQM rejects delimitations on political basis

Muttahida Qaumi Movement (MQM) leader Faisal Sabzwari has said that his party is not against the new delimitations in the metropolis but they should not be on political basis. Talking to media persons here on Friday, Faisal Sabzwari claimed that MQM holds
Published 02 Nov, 2013 12:00am
Jute import up by eight percent in July-September fiscal year 2014

Jute import up by eight percent in July-September fiscal year 2014

The country's import of jute has increased by over 8 percent during July-September period of the current fiscal year. According to Pakistan Bureau of Statistics (PBS), Pakistan imported jute worth $9.788 million during July-September period of the current
Published 02 Nov, 2013 12:00am
Sindh gets bumper sugarcane crop this year: Mahar

Sindh gets bumper sugarcane crop this year: Mahar

Sindh Agriculture Minister Sardar Ali Nawaz Khan Mahar has said that the Sindh province has achieved bumper sugarcane crop this year, which is above the target, a statement said on Friday. He said Rs 180 per maund has been fixed as the minimum sugarcane p
Published 02 Nov, 2013 12:00am
Atlas Honda unveils 'CD Dream' motorcycle

Atlas Honda unveils 'CD Dream' motorcycle

Atlas Honda unveiled "Honda CD Dream", a new motorcycle with exciting new shape, improved technology, functionality, and aerodynamic contours, on Friday. While providing more choice for Honda fans, Atlas employed advance metallurgy technology in CD Dream
Published 02 Nov, 2013 12:00am
'Government will remove all hurdles in way of economic revival'

'Government will remove all hurdles in way of economic revival'

Leader of business community and former president FPCCI, S M Muneer, has expressed hope that the government will provide all possible facilities to encourage investors to establish new ventures to help create more jobs Talking to newsmen, after inaugurati
Published 02 Nov, 2013 12:00am
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