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Nov 26, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2013-11-20
French care home operator Korian buys Medica for $1.5 billion

French care home operator Korian buys Medica for $1.5 billion

French nursing home operator Korian has agreed to buy rival Medica for 1.1 billion euros ($1.48 billion) in a deal that will create Europe's largest elderly care group. With an ageing European population, and public health care systems under pressure due
Published 20 Nov, 2013 12:00am
Brazil's mid-November inflation rises less than expected

Brazil's mid-November inflation rises less than expected

Brazil's annual inflation rose less than expected in mid-November though a food price surge continued to add pressure, government data showed on Tuesday. The IPCA-15 consumer price index rose 5.78 percent in the 12 months to mid-November, below the 5.87 p
Published 20 Nov, 2013 12:00am
ECB has tools to ease but must take medium-term view: Nowotny

ECB has tools to ease but must take medium-term view: Nowotny

There is no need for the European Central Bank to respond with immediate policy reactions to below-target inflation, an ECB Governing Council member said on Monday. Another said the worst of the euro zone's economic woes are behind it. The ECB cut interes
Published 20 Nov, 2013 12:00am
Turkey holds main interest rates steady

Turkey holds main interest rates steady

The Turkish central bank kept its main interest rates steady on Tuesday, but analysts said it carried out a modest tightening of monetary policy by removing a lower rate. The bank, which is statutorily independent, kept all its main rates in place - the o
Published 20 Nov, 2013 12:00am
Exxon to sell Hong Kong power company stake

Exxon to sell Hong Kong power company stake

US oil giant ExxonMobil said Tuesday it had agreed to sell its stake in a Hong Kong power-generation firm, in a deal worth more than $3 billion. The largest US oil company reported an 18 percent decline in third quarter profits last month due to weaker re
Published 20 Nov, 2013 12:00am
Drugs and sex scandal engulfs Britain's 'ethical' bank

Drugs and sex scandal engulfs Britain's 'ethical' bank

Britain's 'ethical' Co-operative Bank slumped further into crisis on Tuesday after its former chairman was filmed allegedly planning to buy illegal drugs, while further revelations surrounded his sex life. Paul Flowers, a Methodist minister, apologised af
Published 20 Nov, 2013 12:00am
German giant Commerzbank to expand Swiss operations

German giant Commerzbank to expand Swiss operations

German giant Commerzbank said Tuesday that it was launching a massive expansion of its operations in Switzerland with the aim of tapping business sector clients. The move came just months after the bank said 5,000 jobs would be axed as it tots up the toll
Published 20 Nov, 2013 12:00am
German investor sentiment hits four-year high

German investor sentiment hits four-year high

German analyst and investor sentiment beat expectations and rose to its highest level in four years in November, helped by a slightly improved economic outlook for the euro zone as a whole, a survey showed on Tuesday. A monthly survey by the Mannheim-base
Published 20 Nov, 2013 12:00am
US labour costs point to still-benign inflation

US labour costs point to still-benign inflation

US labour costs rose marginally in the third quarter, pointing to tame wage inflation that should allow the Federal Reserve to maintain its bond-buying program to stimulate the economy. The Employment Cost Index, the broadest measure of labour costs, incr
Published 20 Nov, 2013 12:00am
US sets $13 billion mortgage settlement with J.P Morgan Chase

US sets $13 billion mortgage settlement with J.P Morgan Chase

US regulators have reached a $13 billion settlement with J.P. Morgan Chase to resolve numerous suits alleging poor mortgage practices, a person familiar with the matter told AFP Tuesday. The settlement, the latest in a string of agreements over allegation
Published 20 Nov, 2013 12:00am
US sets $13 billion mortgage settlement with J.P Morgan Chase

US sets $13 billion mortgage settlement with J.P Morgan Chase

US regulators have reached a $13 billion settlement with J.P. Morgan Chase to resolve numerous suits alleging poor mortgage practices, a person familiar with the matter told AFP Tuesday. The settlement, the latest in a string of agreements over allegation
Published 20 Nov, 2013 12:00am
US appeals court revives Apple bid for Samsung injunction

US appeals court revives Apple bid for Samsung injunction

A US appeals court on Monday breathed new life into Apple's long-running attempt to secure an injunction banning the sale of some devices made by Samsung Electronics Co Ltd, ordering a California judge to reconsider imposing a permanent sales ban on some
Published 20 Nov, 2013 12:00am
Kuwait offers $2 billion in loans, investments to Africa

Kuwait offers $2 billion in loans, investments to Africa

Kuwait's Emir Sheikh Sabah al-Ahmad Al-Sabah kicked off the third Africa-Arab summit Tuesday by pledging $1 billion (740 million euros) in low-interest loans and the same amount in investments to African states. The two-day summit in Kuwait is exploring w
Published 20 Nov, 2013 12:00am
Nokia shareholders approve mobile phone sale to Microsoft

Nokia shareholders approve mobile phone sale to Microsoft

Nokia shareholders voted overwhelmingly Tuesday in favour of selling the company's mobile business to US software giant Microsoft in an attempt to reinvent the once-proud Finnish telecoms titan. According to Nokia - which will now become a telecom equipme
Published 20 Nov, 2013 12:00am
China's foreign investment keeps steady growth

China's foreign investment keeps steady growth

China's foreign direct investment inflows rose 5.8 percent in the first 10 months of 2013 from a year ago, extending gains since March and underlining a reviving appetite from global investors as the world's second-largest economy gained traction. The Com
Published 20 Nov, 2013 12:00am
India opens first state-owned bank for women

India opens first state-owned bank for women

India's prime minister on Tuesday inaugurated the country's first state-owned bank for women, aimed at strengthening their financial security after a string of sex crimes highlighted gender inequality. Premier Manmohan Singh opened the Bharatiya Mahila Ba
Published 20 Nov, 2013 12:00am
Tokyo stocks down

Tokyo stocks down

Tokyo stocks closed 0.25 percent lower Tuesday as a pick-up in the yen against the dollar offset another record close for the Dow on Wall Street. The benchmark Nikkei 225 index lost 37.74 points to finish at 15,126.56. Tuesday's losses also come after the
Published 20 Nov, 2013 12:00am
Indian shares near two-week high

Indian shares near two-week high

Indian shares rose for a third consecutive session on Tuesday to their highest closing levels in nearly two weeks, as a rally in debt markets boosted banks, the biggest holders of bonds, while sentiment remained underpinned by global factors. The prospect
Published 20 Nov, 2013 12:00am
Tuesday's midday trade: Dow pops back up above 16,000

Tuesday's midday trade: Dow pops back up above 16,000

The Dow Jones industrial average climbed above 16,000 for a second day, bolstered by a rally in Home Depot shares after stronger-than-expected earnings. A recovery in the US housing market helped Home Depot top profit and sales estimates for the third qua
Published 20 Nov, 2013 12:00am
Dow, S&P pull back from records after Icahn's caution

Dow, S&P pull back from records after Icahn's caution

The S&P 500 and the Nasdaq ended lower on Monday while the Dow failed to close above its milestone level of 16,000 as stocks sold off late in the session following Carl Icahn's cautious comments on the equities market. The Dow and the S&P 500 retreated fr
Published 20 Nov, 2013 12:00am
Taiwan stocks soar

Taiwan stocks soar

Taiwan stocks continued their upward streak for the fourth consecutive session on Tuesday, lifted by defensive shares such as textile and cement, both up 1.5 percent. LCD panel makers AU Optronics and Innolux Corp, however, shed 1.1 percent and 1.7 percen
Published 20 Nov, 2013 12:00am
Treasuries gain on Fed views

Treasuries gain on Fed views

US Treasuries prices rose on Monday on expectations the Federal Reserve will continue its bond-buying program under new head Janet Yellen, though comments from another Fed speaker underscored the crossroads facing the central bank. Investors also shied aw
Published 20 Nov, 2013 12:00am
Treasuries gain on Fed views

Treasuries gain on Fed views

US Treasuries prices rose on Monday on expectations the Federal Reserve will continue its bond-buying program under new head Janet Yellen, though comments from another Fed speaker underscored the crossroads facing the central bank. Investors also shied aw
Published 20 Nov, 2013 12:00am
Saudi market slips on profit-taking, Egypt index up on aid hopes

Saudi market slips on profit-taking, Egypt index up on aid hopes

Saudi Arabia's index shed 0.6 percent on Tuesday as some investors booked profits after a three-week rally, while Egypt's bourse continued to strengthen on hopes for fresh Saudi aid and progress towards political reform. The Saudi index had been gaining s
Published 20 Nov, 2013 12:00am
Hong Kong stocks flat, China falls

Hong Kong stocks flat, China falls

Hong Kong shares ended flat on Tuesday, with a record close on Wall Street offset by profit-taking after a recent rally triggered by China's economic reform plans. The benchmark Hang Seng Index fell 2.25 points to 23,657.81 on turnover of HK$89.30 billion
Published 20 Nov, 2013 12:00am
European shares pull back on earnings worries

European shares pull back on earnings worries

European shares fell in thin trade on Tuesday as negative comments from US billionaire investor Carl Icahn drew attention to a mixed earnings season, puncturing a rally that had taken Germany's DAX to a record high. Icahn told the Reuters Global Investmen
Published 20 Nov, 2013 12:00am
Seoul shares up

Seoul shares up

Seoul shares rose to their highest closing level in three weeks on Tuesday, marking a fourth straight winning session as China's market-friendly economic reform plan continued to bolster risk appetite. The Korea Composite Stock Price Index (KOSPI) ended u
Published 20 Nov, 2013 12:00am
Southeast Asian markets: Philippines at week low; Malaysia extends gain

Southeast Asian markets: Philippines at week low; Malaysia extends gain

Most Southeast Asian stocks eased on Tuesday, with the Philippines ending at its lowest in more than a week amid concerns over the impact of a typhoon on inflation while Thai shares retreated, wary of political uncertainty and the economic outlook. The Ph
Published 20 Nov, 2013 12:00am
UK's top shares index slips, Intertek big faller

UK's top shares index slips, Intertek big faller

Britain's top share index slipped on Tuesday, hurt by testing firm Intertek on worries over a slowdown in its business, though analysts were confident that technical support would cap any weakness in the broader market. Intertek, a company specialising in
Published 20 Nov, 2013 12:00am
Aussie dollar up New Zealand $ down

Aussie dollar up New Zealand $ down

The Australian dollar edged up on Tuesday after the Reserve Bank of Australia noted mounting evidence that interest rate cuts were working to stimulate the economy, though it would not rule out the chance of easing further if necessary. The Aussie initial
Published 20 Nov, 2013 12:00am
Dollar on defensive in Asia

Dollar on defensive in Asia

The dollar was on the defensive on Tuesday on expectations that the Federal Reserve will keep its easy policy stance and on sharpened appetite for risk following Beijing's announcement of sweeping reforms. But optimistic comments on the US economy by Fed
Published 20 Nov, 2013 12:00am
Dollar recovers after China yuan intervention plan

Dollar recovers after China yuan intervention plan

The dollar recovered early losses to trade higher against the euro on Tuesday after the Chinese central bank said it would gradually exit from regular intervention in the foreign exchange market. Zhou Xiaochuan, head of the People's Bank of China, said in
Published 20 Nov, 2013 12:00am
Early trade in New York: dollar edges lower

Early trade in New York: dollar edges lower

The dollar edged lower on Tuesday in choppy trading after the Chinese central bank said it would gradually exit from regular intervention in the foreign exchange market. But analysts said over the medium term, the dollar is still expected to perform bette
Published 20 Nov, 2013 12:00am
Dollar, yen dip as China reforms bolster risk appetite

Dollar, yen dip as China reforms bolster risk appetite

The safe-haven dollar fell on Monday after China announced its most sweeping economic and social reforms in nearly three decades, lifting investors' appetite for higher-yielding currencies such as the Australian and New Zealand dollars. Increased investor
Published 20 Nov, 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. 77.75-77.75 (77.75-77.75). Call Money Rates: 06.00-08.00 percent (previous 05.75-08.00 percent).
Published 20 Nov, 2013 12:00am
Indian rupee at two-week high

Indian rupee at two-week high

The Indian rupee rose for a fourth straight session to a near two-week high on Tuesday on strong foreign inflows into stocks and as global risk sentiment was boosted after China's central bank governor said the yuan's trading band will be widened. Foreign
Published 20 Nov, 2013 12:00am
Most emerging Asian currencies up

Most emerging Asian currencies up

Most emerging Asian currencies rose on Tuesday, enjoying capital inflows on sustained expectations that the US Federal Reserve will take its time before tapering its monetary stimulus and as China's reform plans bolstered risk appetite. The Indian rupee s
Published 20 Nov, 2013 12:00am
Yuan little changed

Yuan little changed

China's yuan was little changed against the dollar on Tuesday, as the central bank appears to prefer keeping it stable by intervening in the market via state-owned banks. The "redback" has outperformed most other Asian currencies and has gained 2.2 percen
Published 20 Nov, 2013 12:00am
Sterling falls

Sterling falls

Sterling fell on Tuesday, with most of the good news on the UK economy already priced in and the Bank of England showing no signs it's about to tighten monetary policy. Sterling slipped 0.1 percent to $1.6095 in the European session, after reaching $1.612
Published 20 Nov, 2013 12:00am
Cahill equals scoring record in Costa Rica win

Cahill equals scoring record in Costa Rica win

Tim Cahill equalled Australia's national goalscoring record to give new coach Ange Postecoglou a winning start in a 1-0 win over Costa Rica in Sydney on Tuesday. The New York Red Bulls forward scored with a header in the 69th minute to give a young experi
Published 20 Nov, 2013 12:00am
Chinese teen sensation Guan to star in Hong Kong Open

Chinese teen sensation Guan to star in Hong Kong Open

Chinese golf prodigy Guan Tianlang will star in December's Hong Kong Open, organisers announced Tuesday, just weeks after he celebrated his 15th birthday. The Guangzhou schoolboy sent shockwaves through the sport at the US Masters in April when, aged just
Published 20 Nov, 2013 12:00am
Aguero double as Argentina down Bosnia

Aguero double as Argentina down Bosnia

Manchester City striker Sergio Aguero scored twice as Argentina secured a 2-0 victory over Bosnia and Herzegovina in football friendly here Monday. Playing without superstar striker Lionel Messi, Argentina dominated the tempo most of the match against the
Published 20 Nov, 2013 12:00am
Trio through as blast disrupts Asian qualifier

Trio through as blast disrupts Asian qualifier

Uzbekistan, Qatar and Oman stormed into the 2015 Asian Cup Tuesday but China hit a stumbling block and Iran's bid was complicated by the fall-out of a deadly suicide blast. The Uzbeks and Oman both left it late before downing Hong Kong and Syria respectiv
Published 20 Nov, 2013 12:00am
Haddin lashes former coach Arthur as 'insecure'

Haddin lashes former coach Arthur as 'insecure'

Wicketkeeper Brad Haddin on Tuesday took a swipe at Mickey Arthur, criticising the former Test coach as insecure and saying he set back the Australian team. Haddin said Arthur's successor Darren Lehmann has turned Australia's dressing room and demeanour a
Published 20 Nov, 2013 12:00am
New Zealand-Sri Lanka T20 game cancelled due to rain

New Zealand-Sri Lanka T20 game cancelled due to rain

Bad weather forced the first Twenty20 international between New Zealand and Sri Lanka to be abandoned without a ball being bowled in Pallekele on Tuesday. Heavy rain since early morning drenched the Pallekele International Stadium and forced the umpires t
Published 20 Nov, 2013 12:00am
Razzaq, Malik back home

Razzaq, Malik back home

Pakistan Tuesday withdrew all-rounders Shoaib Malik and Abdul Razzaq from their limited-overs tour of South Africa after both suffered injuries. The injuries are a blow to the visitors, who play the first of two Twenty20 internationals in Johannesburg on
Published 20 Nov, 2013 12:00am
Froome welcomes tougher doping penalties

Froome welcomes tougher doping penalties

Tour de France champion Chris Froome has welcomed the introduction of tougher penalties for doping, and admitted that he had been personally "hit hard" by accusations he had cheated. Speaking at the end of a private visit to Kenya, the country of his birt
Published 20 Nov, 2013 12:00am
Italy, Nigeria share spoils in frantic friendly

Italy, Nigeria share spoils in frantic friendly

Italy and Nigeria signed off for the year 2013 with a breathlessly entertaining 2-2 draw in a friendly international at Fulham's Craven Cottage stadium in London on Monday. The match came just two days after Nigeria secured qualification for the World Cup
Published 20 Nov, 2013 12:00am
Trott, Barmy Army in Johnson's sights in Ashes

Trott, Barmy Army in Johnson's sights in Ashes

Australian fast bowler Mitchell Johnson said Tuesday he has batsman Jonathan Trott and England's travelling Barmy Army fans in his sights in the Ashes series starting Thursday. The last time England were in Australia in 2010-11, Trott and the England top
Published 20 Nov, 2013 12:00am
Watson looks for bowling stint

Watson looks for bowling stint

Australia's Shane Watson said Tuesday he was on track to bowl in this week's first Ashes Test against England while recovering from a hamstring injury. During training this week the 32-year-old all-rounder was able to bowl in the nets off just a few paces
Published 20 Nov, 2013 12:00am
Aussies take aim at England's bid for history

Aussies take aim at England's bid for history

Australia hope their impregnable record at the Gabba will help them seize early momentum as they bid to stop England completing their best Ashes run in 123 years from Thursday. Michael Clarke's team went down 3-0 just three months ago in England, leaving
Published 20 Nov, 2013 12:00am
Gazans in double border trouble with Egypt and Israel

Gazans in double border trouble with Egypt and Israel

It was the publicity stunt of the year in Hamas-ruled Gaza: the delivery of Kentucky Fried Chicken from a branch in Egypt through a tunnel under their shared border. But since the service was launched in spring, the Hamas-friendly Egyptian government of M
Published 20 Nov, 2013 12:00am
EU's contested 2014-2020 budget clears last hurdle

EU's contested 2014-2020 budget clears last hurdle

The EU's contested 2014-2020 budget cleared a final hurdle Tuesday when it was approved by the European Parliament after months of bitter debate between EU institutions over planned spending cuts. The first-ever trimmed long-term budget was approved by a
Published 20 Nov, 2013 12:00am
Two dead in Belgian refinery blast

Two dead in Belgian refinery blast

Two people died on Tuesday in an explosion at a refinery in the Belgian city of Antwerp, oil giant Total said. "We regret two fatalities," said a statement from the company. An earlier statement said one dead with two missing. The second release made no r
Published 20 Nov, 2013 12:00am
US healthcare website has security bugs, expert warns Congress

US healthcare website has security bugs, expert warns Congress

The website at the center of US President Barack Obama's healthcare overhaul has security flaws that put user data at "critical risk" despite recent government assurances it is safe to use, a respected security expert said on Tuesday. "There are actual, l
Published 20 Nov, 2013 12:00am
Ukraine postpones debate on EU bill as time runs down

Ukraine postpones debate on EU bill as time runs down

Ukraine's parliament Tuesday put off for another two days a debate on a bill to let jailed former prime minister Yulia Tymoshenko seek medical treatment abroad as the clock ran down to a crucial summit at which Kiev hopes to sign a historic EU deal. With
Published 20 Nov, 2013 12:00am
Tension mounts at Athens University as strikers defy court

Tension mounts at Athens University as strikers defy court

Tension ran high at the University of Athens Tuesday, as administrative staff continued a lengthy strike against layoffs and redeployments despite a court ruling that their action was illegal. Ruling in a case launched by Education Minister Costas Arvanit
Published 20 Nov, 2013 12:00am
Islamists raid Somali police station, at least 28 dead

Islamists raid Somali police station, at least 28 dead

Islamist militants rammed a car bomb into a police compound north of Somalia's capital on Tuesday and opened fire on officers, leaving at least 28 people dead, officials and witnesses said. Al Shabaab - the al Qaeda-linked group that claimed responsibilit
Published 20 Nov, 2013 12:00am
Norway denies US spy agency targeted its citizens

Norway denies US spy agency targeted its citizens

Norwegian secret services denied on Tuesday the US spy agency at the centre of an international row had monitored millions of phone calls in Norway, responding to accusations made in a local newspaper. The Dagbladet tabloid claimed the National Security A
Published 20 Nov, 2013 12:00am
Iran says sees good chance of success at Geneva nuclear talks

Iran says sees good chance of success at Geneva nuclear talks

The protracted dispute over Iran's nuclear programme can now be resolved, Iranian Foreign Minister Mohammad Javad Zarif said in remarks released on Tuesday, and world powers should seize an "historic opportunity" to clinch a deal. Iran is to meet the six
Published 20 Nov, 2013 12:00am
Czechs award first licence to import medical marijuana

Czechs award first licence to import medical marijuana

The Czech health ministry said Tuesday it had awarded its first licence to import marijuana, months after the European Union member legalised the drug for medical purposes. Czech firm Elkoplast Slusovice will import three kilogrammes (seven pounds) of mar
Published 20 Nov, 2013 12:00am
Six killed as small plane crashes in France

Six killed as small plane crashes in France

A small plane crashed Tuesday in France's central Burgundy region while flying in bad weather, killing six people, officials said. The crash occurred a little after 11:00 am (1000 GMT) in a field near the village of Mouffy, fire-fighters said. The victims
Published 20 Nov, 2013 12:00am
Russia frees nine more Greenpeace activists on bail

Russia frees nine more Greenpeace activists on bail

Russian courts on Tuesday granted bail to nine foreign Greenpeace activists detained for a protest in the Arctic, bringing to 12 the number released over the last days and raising hopes of a solution to a case which has raised global concern.
Published 20 Nov, 2013 12:00am
Egypt army backers, opponents scuffle on anniversary

Egypt army backers, opponents scuffle on anniversary

Brief scuffles erupted in Cairo's Tahrir Square on Tuesday when hundreds of opponents and supporters of the army held rival demonstrations to mark the second anniversary of anti-military protests. Opponents of the army threw stones at supporters of the in
Published 20 Nov, 2013 12:00am
High turnout as Nepal voters defy bombing, threats

High turnout as Nepal voters defy bombing, threats

Millions of Nepalis defied low expectations and threats of violence to vote Tuesday in elections seen as crucial in stabilising the country and breaking its political deadlock seven years after a civil war ended. A bombing in the capital Kathmandu early T
Published 20 Nov, 2013 12:00am
Italy declares state of emergency in Sardinia after deadly cyclone

Italy declares state of emergency in Sardinia after deadly cyclone

A cyclone killed 18 people and made hundreds homeless as extreme rainfall flooded eastern parts of the Mediterranean island of Sardinia, Italian authorities said on Tuesday. The government declared a state of emergency after Cyclone Cleopatra dropped 450m
Published 20 Nov, 2013 12:00am
China says on path to eventually scrap one-child policy

China says on path to eventually scrap one-child policy

China will eventually scrap family planning restrictions, a senior official said on Tuesday, days after the government announced it will allow millions of families to have two children. China, with nearly 1.4 billion people, is the world's most populous c
Published 20 Nov, 2013 12:00am
Lone gunman still at large despite Paris manhunt

Lone gunman still at large despite Paris manhunt

A gunman who critically wounded a photographer at the offices of a major Paris newspaper remained at large Tuesday despite an intense police manhunt, a public appeal to identify him and forensic sleuthing. The newspaper involved, the leftwing daily Libera
Published 20 Nov, 2013 12:00am
Philippines typhoon crop damage worth $110 million: FAO

Philippines typhoon crop damage worth $110 million: FAO

The typhoon that hit the Philippines has caused crop losses worth $110 million and inflicted damage to the agriculture sector of more than twice that figure, preliminary estimates from the United Nation's food agency showed on Tuesday. Some 153,495 hectar
Published 20 Nov, 2013 12:00am
Global news chiefs in Riyadh discuss changing industry

Global news chiefs in Riyadh discuss changing industry

The heads of global news agencies, including Agence France-Presse, gathered in Riyadh Tuesday to discuss how to navigate a changing media landscape marked by falling subscriptions and intense online competition. The fourth edition of The World Congress of
Published 20 Nov, 2013 12:00am
ICE cotton falls, pressured by sinking grains, demand worry

ICE cotton falls, pressured by sinking grains, demand worry

ICE cotton fell on Monday in sympathy with grains markets and under pressure from concerns that global cotton supplies will continue to outpace waning demand, as top consumer China slows purchasing for its strategic stockpiles. The most-active March cotto
Published 20 Nov, 2013 12:00am
Copper bounces from lows on fund buying

Copper bounces from lows on fund buying

Copper bounced on Tuesday from its lowest levels in more than three months as funds bought back short positions, the dollar weakened slightly and China detailed more of its reforms. Copper was unlikely to rise much further, however, because of uncertainty
Published 20 Nov, 2013 12:00am
Brent sheds $1 on Iran talks, Libyan exports

Brent sheds $1 on Iran talks, Libyan exports

Brent futures tumbled by more than $1 a barrel on Tuesday as talks this week between world powers and Iran could lead to an easing of sanctions against the oil-rich country. Also bearish for Brent was the resumption of oil exports from Libya. The six majo
Published 20 Nov, 2013 12:00am
Tokyo rubber falls

Tokyo rubber falls

Tokyo rubber futures fell on Tuesday as weaker oil prices and a stronger Japanese yen spurred selling, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for April delivery was down 2.8 yen to settle at 258.4 yen ($2.58) per kg. "
Published 20 Nov, 2013 12:00am
Corn tumbles to three-year low

Corn tumbles to three-year low

Chicago Board of Trade corn futures fell to a fresh three-year low on Monday on pressure from a proposal to lower the use of corn-based ethanol in the United States and on news China rejected a cargo of US corn which contained a genetically modified varie
Published 20 Nov, 2013 12:00am
Palm oil slips

Palm oil slips

Malaysian palm oil futures edged down to their lowest in a week on Tuesday as investors chose to avoid risky bets ahead of industry reports on export demand at the world's second-largest producer. Prices were also consolidating from big gains last week, a
Published 20 Nov, 2013 12:00am
ICE cocoa climbs to two-year high

ICE cocoa climbs to two-year high

Cocoa futures climbed for the sixth straight session on Tuesday to a two-year peak as global supply concerns spurred investors to continue buying, while Liffe robusta coffee turned lower. Arabica coffee on ICE Futures US was flat, after climbing above a f
Published 20 Nov, 2013 12:00am
Gold up in Asia

Gold up in Asia

Gold was unable to recover on Tuesday from sharp losses incurred the previous day, with investors filled with uncertainty over when the US Federal Reserve would begin to taper its monetary stimulus, while physical demand for the metal remained weak. "Mark
Published 20 Nov, 2013 12:00am
Gold falls in New York

Gold falls in New York

Gold fell more than 1 percent on Monday as lacklustre physical buying prompted traders to cash in three days' gains, while early gains in equities dented bullion's safe-haven appeal. Spot gold was down 1.3 percent to $1,272.54 an ounce by 3:39 pm EST (203
Published 20 Nov, 2013 12:00am
Gold treads water after losses in Europe

Gold treads water after losses in Europe

Gold edged up on Tuesday, stabilising after sharp losses seen in the previous session, as investors gauged Federal Reserve officials' comments about the outlook for easy monetary policy and the strength of the US economy. Federal Reserve Bank of New York
Published 20 Nov, 2013 12:00am
US MIDDAY: soya drops

US MIDDAY: soya drops

US soyabean futures dropped 1.2 percent on Tuesday, pressured by technical selling and expectations that a large crop in South America will bolster the global balance sheet, traders said. Corn was little changed, but the market was trading above overnight
Published 20 Nov, 2013 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

Gold inched up early on Tuesday, stabilising after sharp losses seen in the previous session, as investors gauged Federal Reserve officials' comments about the outlook for easy monetary policy and the strength of the US economy. Federal Reserve Bank of Ne
Published 20 Nov, 2013 12:00am
97 LGH nurses' contract extended

97 LGH nurses' contract extended

On the instructions of Punjab Chief Minister Shahbaz Sharif, the contract of as many as 97 nurses of Lahore General Hospital (LGH) working on ad hoc basis has been extended. Punjab Health Department has also issued a notification in this regard.
Published 20 Nov, 2013 12:00am
Three rent-a-car services sealed during RTA drive

Three rent-a-car services sealed during RTA drive

Secretary, Regional Transport Authority (RTA), Niamatullah and Additional Assistant Commissioner (AAC) Irfanuddin on Tuesday sealed three rent-a-car services in a grand operation against illegal transport business. According to the details on the orders o
Published 20 Nov, 2013 12:00am
Kohat incident 15 accused held, arms & ammunitions recovered

Kohat incident 15 accused held, arms & ammunitions recovered

The Kohat Police arrested 15 accused involved in Kohat firing incident, arson and provocative speeches and also recovered huge quantity of arms and ammunitions from their possession. Three different cases are also registered against them, said a press rel
Published 20 Nov, 2013 12:00am
PIA's way forward committee achieves historic milestone

PIA's way forward committee achieves historic milestone

The efforts of PIA's 'way forward committee' (WFC) have resulted in achieving a historical milestone in the history of Pakistan's commercial aviation by getting approval of altitude capping of direct routes to the domestic flights of the national carrier.
Published 20 Nov, 2013 12:00am
FBR Web Portal updated

FBR Web Portal updated

The Federal Board of Revenue (FBR) has clarified that the FBR Web Portal has been updated on 18-11-2013 in the light of SRO 978(i)/2013, dated 13-11-2013, and is accepting returns of income for the Tax Year 2013 without Wealth Statement in those cases of
Published 20 Nov, 2013 12:00am
Transporters strike: PBEA regrets apathy of government

Transporters strike: PBEA regrets apathy of government

Pakistan Bed Wear Exporters Association (PBEA) has regretted the lack of apathy of the government in resolving transporters' strike issue which has almost crippled the exporters. Patron-in-chief of PBEA, Shabir Ahmed questioned why did the government slee
Published 20 Nov, 2013 12:00am
NH&MP reunites runaway children, recovers kidnapped girl

NH&MP reunites runaway children, recovers kidnapped girl

National Highways & Motorway Police has reunited 03 lost/runaway children and one kidnapped girl with their parents and also arrested one kidnapper. As per details, Zahoor Ahmed driver of a corolla car No LEJ-4556 informed the NH&MP officers that my siste
Published 20 Nov, 2013 12:00am
Dry fruit vendors pop up despite higher prices

Dry fruit vendors pop up despite higher prices

With slight decrease of mercury in the city several roadside dry fruit vendors popped up offering a variety of dry fruits. The demand of dry fruits at retail stage is still low; however, sale at wholesale has started picking up. The regular shopkeepers an
Published 20 Nov, 2013 12:00am
Ominous rumours hit city business hard

Ominous rumours hit city business hard

The recent Rawalpindi tragedy has caused a serious impact on business activities, as traders are panicked of any possibility of any related violence in the metropolis. "Panic and fears have gripped traders in the wake of Rawalpindi sectarian clashes as a
Published 20 Nov, 2013 12:00am
PESCO's drive against defaulters in full swing

PESCO's drive against defaulters in full swing

Disconnection and recovery campaign launched by Peshawar Electricity Supply Company (PESCO) against power pilferage and defaulters is in full swing throughout Khyber-Pakhtunkhwa. In this connection PESCO Lachi sub-division disconnection teams disconnected
Published 20 Nov, 2013 12:00am
Ombudsman's ambit: LHC seeks Punjab AG's assistance

Ombudsman's ambit: LHC seeks Punjab AG's assistance

The Lahore High Court here on Tuesday directed Advocate General Punjab to assist the court on November 21 in response to a petition challenging ambit of provincial ombudsman. Earlier, Umar Sharif submitting his submission as amicus curie of the court argu
Published 20 Nov, 2013 12:00am
Rangers arrest 20 suspects

Rangers arrest 20 suspects

Rangers on Tuesday claimed to have arrested 20 criminals during targeted raids in various parts of the city and recovered arms from their possession. Rangers conducted targeted raids in Model Colony, Landhi No 5, Shah Faisal Colony, Pakhtoonabad, New Kara
Published 20 Nov, 2013 12:00am
Turkish delegation visits SZABIST

Turkish delegation visits SZABIST

Delegates representing a private and a public university of Turkey visited SZABIST on November 18, 2013. Delegation from Konya Mevlana (Rumi) University comprised Dr Bahattin Adam, Chancellor, Orhan Genç International Students Co-ordinator and Hakan Gok,
Published 20 Nov, 2013 12:00am
ANF meeting reviews Karachi operation

ANF meeting reviews Karachi operation

The ANF holds fifth Inter Agency Task Force (IATF) meeting to focus LEAs collaborated efforts against drug menace at Karachi. According to details issued here on Tuesday, ANF Karachi in its meeting, which was also attended by higher officials from 12 LEAs
Published 20 Nov, 2013 12:00am
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