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Print - 2014-05-16
Rind elected chief of Senate body for Railways

Rind elected chief of Senate body for Railways

Senator Muhammad Ali Rind has been elected as Chairman Senate Standing Committee on Railways. A meeting of the Senate Standing committee on Railways was held here on Thursday to elect its chairman. Senator Ahmad Hassan proposed the name of Muhammad Ali Ri
Published 16 May, 2014 12:00am
Deforestation case SHC gives more time to file comments

Deforestation case SHC gives more time to file comments

The Sindh High Court (SHC) on Thursday allowed more time to the Secretary of Sindh Forest Department to file comments on a petition against deforestation in the province. A division bench headed by Chief Justice Maqbool adjourned the hearing when the prov
Published 16 May, 2014 12:00am
PSQCA fails to curb mushrooming sale of fake beverages, bottled water

PSQCA fails to curb mushrooming sale of fake beverages, bottled water

Pakistan Standards and Quality Control Authority (PSQCA) has appeared toothless in curbing the mushroom growth of substandard and unregistered beverages and bottled water in city due to what sources said inefficiency of authority's officials.
Published 16 May, 2014 12:00am
PDWP approves three uplift projects worth Rs 325.948 million

PDWP approves three uplift projects worth Rs 325.948 million

Provincial Development Working Party (PDWP) has approved three development projects to be completed at an estimated cost of Rs 325.948 million. The approval was given in a meeting held here on Thursday with Khalid Pervez, the Additional Chief Secretary Kh
Published 16 May, 2014 12:00am
SIC issues fatwa against TV channel

SIC issues fatwa against TV channel

The Sunni Ittehad Council (SIC) on Thursday issued a fatwa and declared watching Geo network's TV channel as 'haraam' (forbidden) and appealed to cable operators to stop the broadcast of the channel. Addressing a press conference, SIC leaders Sahib
Published 16 May, 2014 12:00am
Pervez Said assumes charge of HBFC Limited as MD

Pervez Said assumes charge of HBFC Limited as MD

Pervez Said has taken over the charge of House Building Finance company Limited (HBFC Ltd) as Managing Director/CEO, here on Thursday. Prior to this, he was on the Board of Al-Baraka Bank Pakistan Ltd. Said brings over 34 years of well-diversified work ex
Published 16 May, 2014 12:00am
SRB hits bull's eye, set to achieve Rs 42 billion budgetary target

SRB hits bull's eye, set to achieve Rs 42 billion budgetary target

Sindh Revenue Board (SRB) has hit the bull's eye perfectly, recording highest ever monthly tax collection of over Rs 3.9 billion in the month of April alone. The pace with which taxes are being collected in the province not only shows the confidence of ta
Published 16 May, 2014 12:00am
Australian university signs agreement with NUST

Australian university signs agreement with NUST

Leading Australian University, UNSW has signed an agreement with Pakistan's National University of Science and Technology (NUST) to promote academic and educational co-operation between the two universities. UNSW's Pro-Vice Chancellor (Research), Professo
Published 16 May, 2014 12:00am
Khyber Agency Forces-backed anti-polio drive begins

Khyber Agency Forces-backed anti-polio drive begins

A polio eradication campaign supported by security forces was began on Thursday at Malak Din Khel area of Bara, Khyber Agency in which 75,927 children would be administered polio drops below 10 years age. National Staff Polio Eradication Officer, Dr Wazir
Published 16 May, 2014 12:00am
Efforts under way to bring school children back to schools: Baligh

Efforts under way to bring school children back to schools: Baligh

State Minister for Education, Training and Standards in Higher Education and Interior, Muhammad Baligh-ur-Rehman Thursday said the government along with the provincial governments was striving to bring the out of school children into the schools.
Published 16 May, 2014 12:00am
E&T offices to remain open on holidays

E&T offices to remain open on holidays

In order to facilitate the taxpayers and ensure achievement of revenue targets, it has been decided that the offices of excise and taxation in the province will remain open on Saturdays and gazetted holidays, from 8:00am to 4:00pm with immediate effect. T
Published 16 May, 2014 12:00am
Hazara University, 'Right To Play Pakistan' ink MoU

Hazara University, 'Right To Play Pakistan' ink MoU

A memorandum of understanding (MoU) has been signed between Hazara University Mansehra and 'Right To Play Pakistan', an international organisation, with aim at designing and launching a certificate course for teachers to enable them to demonstrate peace a
Published 16 May, 2014 12:00am
HRTC providing excellent training to engineers: NHA chairman

HRTC providing excellent training to engineers: NHA chairman

Chairman National Highway Authority (NHA), Shahid Ashraf Tarrar has said that engineers trained by Highway Research and Training Centre (HRTC) will help construct durable and world class highways because the HRTC, manned by local and international experts
Published 16 May, 2014 12:00am
Intel Pakistan celebrates second annual Mobility Road Show

Intel Pakistan celebrates second annual Mobility Road Show

Intel Pakistan on Thursday celebrated the second annual Intel Mobility Road Show. The event showcased the best of Intel's mobile solutions with the full range of form factors and features, powered by Intel Atom processor and Intel Core processor, with a f
Published 16 May, 2014 12:00am
Khyber Pakhtunkhwa governor urged to lift NWA curfew

Khyber Pakhtunkhwa governor urged to lift NWA curfew

Provincial Jamaat-i-Islami (JI) Khyber Pakhtunkhwa and a member Taliban negotiation committee, Professor Mohammad Ibrahim Khan has demanded of the Governor KP, Sardar Mahtab Ahmad Khan Abbasi for lifting of curfew in North Waziristan or relaxing it for lo
Published 16 May, 2014 12:00am
Match-fixing 'treasure trove' no surprise to New Zealand

Match-fixing 'treasure trove' no surprise to New Zealand

Former New Zealand cricketer Lou Vincent has opened up to investigators about widespread match-fixing in several countries, the country's cricket boss confirmed Thursday. David White's comments came after the London Telegraph reported Vincent had provided
Published 16 May, 2014 12:00am
Nasri ponders international future after omission

Nasri ponders international future after omission

Manchester City midfielder Samir Nasri said Wednesday that he was considering his future in international football after being left out of the French World Cup squad for a second successive finals. The 26-year-old - who had an outstanding season as City w
Published 16 May, 2014 12:00am
Koreans embarrass Myanmar in 12-0 rout

Koreans embarrass Myanmar in 12-0 rout

Myanmar admitted they had no excuses after they were hammered 12-0 by South Korea in an enormously embarrassing result at the Women's Asian Cup on Thursday. Seven players finished on the scoresheet and captain Cho So-Hyun got a hat-trick as the Koreans, a
Published 16 May, 2014 12:00am
Barty, Kyrios among French Open wild cards

Barty, Kyrios among French Open wild cards

Australian teenagers Nick Kyrgios and Ashleigh Barty were among 16-players, mostly French, who received wild cards for the French Open starting on May 25. The teenagers will be playing at Roland Garros for the second time after both reached the second rou
Published 16 May, 2014 12:00am
'Real' deal for Pakistani slum kids

'Real' deal for Pakistani slum kids

It's a long way from the Bernabeu, but on a dusty pitch in a Karachi slum, a group of scrawny Pakistani boys in the famous white shirt of Real Madrid tear around after a football. An academy backed by the Real Madrid Foundation opened in March in one of t
Published 16 May, 2014 12:00am
PCB raises central contract fees

PCB raises central contract fees

Pakistan Cricket Board (PCB) has announced revision in the national team players central contracts which will now see players getting a raise of 25 percent in their monthly retainers of the previous year, in all categories. This increase will be in additi
Published 16 May, 2014 12:00am
India to tour Bangladesh next month

India to tour Bangladesh next month

India will play three one-day internationals against Bangladesh next month ahead of their tour of England, the Bangladesh Cricket Board said on Thursday. All three matches will be held at the Sher-e-Bangla stadium in Dhaka on June 15, 17, and 19.
Published 16 May, 2014 12:00am
No official World Cup song for France

No official World Cup song for France

There will be no official theme song for the France team during the 2014 World Cup finals, the French Football Federation (FFF) said on Thursday. "Following numerous songs released in recent days on the theme of the World Cup in Brazil, the FFF wishes to
Published 16 May, 2014 12:00am
Grant Flower named as batting coach

Grant Flower named as batting coach

Pakistan appointed former Zimbabwe opener Grant Flower as their batting coach Thursday in a comprehensive overhaul of the national team's management in their bid to win next year's World Cup. Grant, younger brother of former England coach Andy, will join
Published 16 May, 2014 12:00am
Puyol bids farewell to Barcelona

Puyol bids farewell to Barcelona

Barcelona captain Carles Puyol had to fight back tears as he said he has played his last game for the club after 593 appearances spanning a 15-year career. Atletico Madrid visit the Camp Nou on Saturday in a match that will decide the La Liga title, but P
Published 16 May, 2014 12:00am
'Old man' Shabana into British Open quarter-finals

'Old man' Shabana into British Open quarter-finals

Amr Shabana, the most successful male player of the 21st century, kept alive his chances of becoming the oldest British Open champion of the professional era when he strode into the last eight on Thursday. The four-times former world champion from Egypt p
Published 16 May, 2014 12:00am
Wawrinka loses with back pain as Murray takes clay victory

Wawrinka loses with back pain as Murray takes clay victory

Monte Carlo champion Stanislas Wawrinka joined fellow Swiss Roger Federer on the scrapheap at the ATP-WTA Rome Masters on Thursday as back pain resulted in a 5-7, 6-2, 6-3 loss to 15th seed Tommy Haas. The 36-year-old has now won both of his matches with
Published 16 May, 2014 12:00am
Sharapova suffers first loss of clay season

Sharapova suffers first loss of clay season

Ana Ivanovic handed Maria Sharapova her first loss of the spring clay season as she beat the Russian eighth seed 6-1, 6-4 on Thursday to reach the quarter-fials of the ATP-WTA Rome Masters. Sharapova had won back-to-back titles in Stuttgart and Madrid, co
Published 16 May, 2014 12:00am
Sevilla stun Benfica on penalties to extend Euro jinx

Sevilla stun Benfica on penalties to extend Euro jinx

Spanish side Sevilla sensationally claimed a third Europa League title after a dramatic penalty shoot-out in which Benfica pair Oscar Cardozo and Rodrigo missed from the spot to extend the Portuguese giants' European final hoodoo in Turin on Wednesday. Be
Published 16 May, 2014 12:00am
Sterling springs back

Sterling springs back

Poor US and eurozone data helped rescue the pound from any further losses on Thursday after a warning from the Bank of England on interest rates which cast some doubt on sterling's year-long march higher. The growing consensus that the BoE would move to r
Published 16 May, 2014 12:00am
Asian forex: Intervention cuts rupee, won gains

Asian forex: Intervention cuts rupee, won gains

The Indian rupee and South Korean won rose on Thursday, when most Southeast Asian currencies eased on profit-taking, but the gains were pared as foreign exchange authorities in the two countries were seen intervening. The rupee advanced as much as 0.4 per
Published 16 May, 2014 12:00am
Indian rupee strengthens

Indian rupee strengthens

The Indian rupee strengthened to its highest level in about 10 months on Thursday, while also posting its biggest single-day gain in nearly three weeks on the back of sustained dollar inflows into domestic shares ahead of election results. Hopes that the
Published 16 May, 2014 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 Thursday. 77.64-77.65 (77.6425-77.6500). Call Money Rates: 05.50-07.25 percent (previous 05.50-07.25 percent).
Published 16 May, 2014 12:00am
Sterling slumps versus dollar, euro in New York

Sterling slumps versus dollar, euro in New York

The British pound fell from a 16-month high versus the euro and dropped to a one-month low against the dollar on Wednesday after the Bank of England surprised investors by saying it has no plans for near-term monetary tightening. "(The pound) had been the
Published 16 May, 2014 12:00am
Early trade in New York: Euro hits 11-week lows

Early trade in New York: Euro hits 11-week lows

The euro extended losses to 11-week lows against the dollar and the yen on Thursday after subdued eurozone growth and inflation data bolstered expectations the European Central Bank will ease monetary policy at its meeting next month. The dollar lost grou
Published 16 May, 2014 12:00am
Euro at 11-week lows in London

Euro at 11-week lows in London

The euro extended losses to 11-week lows against the dollar and the yen on Thursday, after subdued euro zone growth and inflation data bolstered expectations the European Central Bank will ease policy at its meeting next month. The euro lost 0.4 percent t
Published 16 May, 2014 12:00am
Euro wallows in Asia

Euro wallows in Asia

The euro wallowed near six-week lows against the dollar on Thursday, weighed by lower government debt yields amid rising expectations the European Central Bank is poised to cut rates at next month's meeting. A dovish ECB has helped push down yields on Ger
Published 16 May, 2014 12:00am
Aussie steadies

Aussie steadies

Australian and New Zealand government bonds surged on Thursday, tracking a global rally on heightened speculation the European Central Bank (ECB) was preparing an easing package. In contrast, both Antipodean currencies were little changed in subdued trade
Published 16 May, 2014 12:00am
FTSE retreats from 14-year high, led by airlines

FTSE retreats from 14-year high, led by airlines

Britain's top shares dropped on Thursday, led down by airlines, as investors bet on a period of consolidation for the FTSE 100 after it reached a 14-year high earlier in the day. Profit-taking continued for shares of British Airways owner IAG and easyJet.
Published 16 May, 2014 12:00am
Southeast Asian markets: Thai shares pare gains, Vietnam down

Southeast Asian markets: Thai shares pare gains, Vietnam down

Thai shares fell on Thursday after violence erupted in Bangkok and a meeting to set an election date was disrupted, while the Vietnam index reversed gains due to late selling amid spreading anti-China riots. After a range-bound session, the Thai SET index
Published 16 May, 2014 12:00am
Australian shares up

Australian shares up

Australian shares edged up 0.3 percent to two-week highs on Thursday, as big banks led by Commonwealth Bank of Australia put in a positive performance and energy stocks rose stronger on firmer oil prices. The S&P/ASX 200 index rose 14.3 points to 5,510.8
Published 16 May, 2014 12:00am
European shares hit by losses in Milan, Lisbon after weak GDP

European shares hit by losses in Milan, Lisbon after weak GDP

News that the Portuguese and Italian economies contracted in the first quarter hit shares in Lisbon and Milan on Thursday, knocking back European stock markets from multi-year highs. Italy's FTSE MIB equity index finished 3.6 percent lower, its biggest on
Published 16 May, 2014 12:00am
Indian shares end near record high

Indian shares end near record high

Indian shares edged up on Thursday to near the record highs hit earlier this week as bluechips such as HDFC Bank gained on hopes the Bharatiya Janata Party and its allies would win a clear majority when election results are unveiled on Friday. Counting of
Published 16 May, 2014 12:00am
Tokyo stocks lower

Tokyo stocks lower

Tokyo stocks fell 0.75 percent Thursday as the stronger yen and a slump in Sony shares overshadowed data showing Japan's economy grew faster than expected in the first three months of the year. The benchmark Nikkei 225 index slipped 107.55 points to finis
Published 16 May, 2014 12:00am
Yields fall to six-month lows

Yields fall to six-month lows

US Treasuries yields fell to six-month lows on Wednesday, breaking out of a recent range, as expectations the European Central Bank will cut interest rates sparked a global fixed-income rally. The ECB is preparing a package of policy options for its June
Published 16 May, 2014 12:00am
Yields fall to six-month lows

Yields fall to six-month lows

US Treasuries yields fell to six-month lows on Wednesday, breaking out of a recent range, as expectations the European Central Bank will cut interest rates sparked a global fixed-income rally. The ECB is preparing a package of policy options for its June
Published 16 May, 2014 12:00am
South Korean stocks flat

South Korean stocks flat

South Korean shares closed flat after briefly hitting a more than five-month high on Thursday, as investors took profits from a five-day winning streak, while robust capital inflows into the stock market supported the won. The Korea Composite Stock Price
Published 16 May, 2014 12:00am
Wall Street lower; small caps raise Concern

Wall Street lower; small caps raise Concern

US stocks fell on Wednesday, with the Dow and S&P 500 retreating from recent record highs, as small caps resumed their sell-off and consumer discretionary shares lagged. The S&P consumer discretionary index was down 1.1 percent and led the decline on the
Published 16 May, 2014 12:00am
Thursday's midday trade: stocks fall over small caps sell off

Thursday's midday trade: stocks fall over small caps sell off

US stocks dropped more than 1 percent on Thursday, fuelled by a selloff in small-cap stocks and disappointing results from Wal-Mart. The Russell 2000 index of small cap stocks tumbled 1.7 percent, putting the index into correction territory. It is down mo
Published 16 May, 2014 12:00am
Hong Kong stocks up, China down

Hong Kong stocks up, China down

Hong Kong shares rose 0.66 percent on Thursday, marking a sixth straight gain, as traders brushed off losses on Wall Street. The benchmark Hang Seng Index added 148.09 points to 22,730.86 on turnover of HK$54.88 billion (US $7.08 billion). The index was g
Published 16 May, 2014 12:00am
Dubai, Qatar bourses fall as investors book profits on some MSCI picks

Dubai, Qatar bourses fall as investors book profits on some MSCI picks

  • Dubai and Qatar's bourses fell on Thursday as investors booked profits in many stocks including those that MSCI picked to be part of its emerging market index. Dubai's benchmark dropped 2.6 percent, largely due to Emaar Properties and Dubai Islamic Bank
Published 16 May, 2014 12:00am
US jobless claims hit seven-year low, inflation ticks up

US jobless claims hit seven-year low, inflation ticks up

New applications for US unemployment benefits hit a seven-year low last week while consumer prices recorded their largest increase in 10 months in April, pointing to a firming economy. Factory activity in New York state expanded at its quickest pace in ne
Published 16 May, 2014 12:00am
Flagging eurozone recovery turns up heat on ECB to act

Flagging eurozone recovery turns up heat on ECB to act

Eurozone growth disappointed in the first quarter, despite a strong showing by economic powerhouse Germany, data showed on Thursday, turning up the heat for another cut in European interest rates. The German economy, the region's biggest, sprinted ahead i
Published 16 May, 2014 12:00am
Britain's Dixons, Carphone Warehouse agree to merge

Britain's Dixons, Carphone Warehouse agree to merge

British electrical goods retailer Dixons and mobile phone group Carphone Warehouse agreed on Thursday to merge, creating a European leader in consumer electricals, mobile phones and connectivity. The new group, Dixons Carphone, will have a combined stock
Published 16 May, 2014 12:00am
Hard-hit Portugal makes joyless exit from bailout

Hard-hit Portugal makes joyless exit from bailout

Portugal exits a three-year, 78-billion-euro ($108 billion) international bailout programme on Saturday, a landmark that sparks little joy in a population still struggling on a diet of economic austerity. Portugal is the second eurozone member to emerge f
Published 16 May, 2014 12:00am
Siemens wins huge wind farm contract

Siemens wins huge wind farm contract

German engineering giant Siemens said Thursday it has won a 1.5-billion-euro ($2.0-billion) contract to supply wind turbines to a huge offshore wind park being built off the Dutch coast. Siemens said in a statement it will deliver 150 wind turbines with a
Published 16 May, 2014 12:00am
Japan's first quarter growth accelerates

Japan's first quarter growth accelerates

Japan's first-quarter growth was the strongest in over two years, data showed Thursday, as the nation's cash registers rang up big sales ahead of a consumption tax rise that threatens to stall activity in the coming months. Millions of shoppers scooped up
Published 16 May, 2014 12:00am
General Motors recalls 3 million more cars world-wide

General Motors recalls 3 million more cars world-wide

General Motors announced a new round of recalls Thursday, totalling nearly three million vehicles world-wide, as the US automaker works to speed up its response to safety issues. GM said that five recalls affected 2.99 million vehicles, with most of them
Published 16 May, 2014 12:00am
Russia's growth slumps amid Ukraine crisis

Russia's growth slumps amid Ukraine crisis

Russia on Thursday reported a sharp slowdown in economic growth in the first quarter that analysts attributed to fallout from the raging crisis in neighbouring Ukraine. The state statistics agency said the Russian economy grew by 0.9 percent between Janua
Published 16 May, 2014 12:00am
Wal-Mart earnings suffer winter chill

Wal-Mart earnings suffer winter chill

Wal-Mart Stores Thursday blamed disappointing first-quarter earnings on unusually severe winter weather that depressed store traffic and forced the company to spend millions more on snow-removal and heating. The world's biggest retailer notched earnings o
Published 16 May, 2014 12:00am
Wal-Mart earnings suffer winter chill

Wal-Mart earnings suffer winter chill

Wal-Mart Stores Thursday blamed disappointing first-quarter earnings on unusually severe winter weather that depressed store traffic and forced the company to spend millions more on snow-removal and heating. The world's biggest retailer notched earnings o
Published 16 May, 2014 12:00am
Foreign demand for US Treasuries falls; Belgium strong buyer

Foreign demand for US Treasuries falls; Belgium strong buyer

Foreign capital inflow into US Treasuries declined sharply in March, with robust demand coming mainly from Belgium, which extended its recent run of heavy buying of US debt. Holdings of US Treasuries in Belgium rose a net $40.2 billion in the month. Over
Published 16 May, 2014 12:00am
Foreign demand for US Treasuries falls; Belgium strong buyer

Foreign demand for US Treasuries falls; Belgium strong buyer

Foreign capital inflow into US Treasuries declined sharply in March, with robust demand coming mainly from Belgium, which extended its recent run of heavy buying of US debt. Holdings of US Treasuries in Belgium rose a net $40.2 billion in the month. Over
Published 16 May, 2014 12:00am
Foreign investors unhappy with some of Indonesia's new investment rules

Foreign investors unhappy with some of Indonesia's new investment rules

Indonesia's new foreign-investment rules, rather than attract new investors, could deter them from entering energy, agriculture, retail, storage and other sectors, business lobby groups and some company executives say. Last August, at a time when the rupi
Published 16 May, 2014 12:00am
Italian 'emblem' Nutella turns 50 with parties

Italian 'emblem' Nutella turns 50 with parties

Italian sweets maker Ferrero on Wednesday unveiled plans to celebrate the 50th anniversary of Nutella - the chocolate hazelnut spread that has conquered palates world-wide and created Italy's biggest fortune. The first pot of the addictive mix was made in
Published 16 May, 2014 12:00am
Sisi asks for US help in fighting terrorism

Sisi asks for US help in fighting terrorism

Abdel Fattah al-Sisi, the general who ousted an elected Islamist president and is set to become Egypt's next head of state, called on the United States to help fight jihadi terrorism to avoid the creation of new Afghanistan in the Middle East. In his firs
Published 16 May, 2014 12:00am
Up to 21 dead as anti-China riots spread in Vietnam

Up to 21 dead as anti-China riots spread in Vietnam

Up to 21 people were killed in Vietnam, a doctor said on Thursday, and a huge foreign steel project was set ablaze as anti-China riots spread to the centre of the country a day after arson and looting in the south. The doctor at a hospital in central Ha T
Published 16 May, 2014 12:00am
Thai election unlikely as renewed unrest grips Bangkok

Thai election unlikely as renewed unrest grips Bangkok

A Thai general election is unlikely to go ahead in July after renewed unrest, officials said on Thursday, as the acting prime minister was forced by protesters to flee a meeting with electoral officers and gunmen killed three people in Bangkok. The turmoi
Published 16 May, 2014 12:00am
Interpol raids in Latam net fake goods worth $27 million

Interpol raids in Latam net fake goods worth $27 million

An Interpol-led operation across South America has led to the seizure of counterfeit goods worth $27.4 million (20 million euros), the organisation said Thursday. Police and customs officers from 10 countries took part in the drive targeting crime network
Published 16 May, 2014 12:00am
Kerry says he's seen raw data suggesting Syria used chlorine

Kerry says he's seen raw data suggesting Syria used chlorine

US Secretary of State John Kerry said on Thursday he had seen raw data suggesting Syrian government forces had used chlorine gas in the country's civil war, but added it had not been verified. French Foreign Minister Laurent Fabius has said Syria may have
Published 16 May, 2014 12:00am
Israeli troops kill two Palestinians in Nakba Day clashes

Israeli troops kill two Palestinians in Nakba Day clashes

Israeli border police shot dead two Palestinians on Thursday during a demonstration in the West Bank marking the 66th anniversary of the Nakba, or "catastrophe" of the Jewish state's creation. Security and medical sources told AFP that Musaab Nuwarah, 20,
Published 16 May, 2014 12:00am
Centrifuges emerge as key sticking point in Iran nuclear talks

Centrifuges emerge as key sticking point in Iran nuclear talks

The biggest hurdle Iran and world powers must overcome to clinch a lasting deal on Tehran's nuclear programme by a July deadline is agreeing on the future scope of uranium enrichment in the Islamic Republic, officials and diplomats said on Thursday. An Ir
Published 16 May, 2014 12:00am
US regulators tentatively open Internet 'fast lanes'

US regulators tentatively open Internet 'fast lanes'

US regulators voted Thursday for a proposal that would allow Internet "fast lanes" while leaving open the possibility of tougher regulations to protect online access. Amid demonstrations outside its meeting and following weeks of lobbying from various gro
Published 16 May, 2014 12:00am
Senate panel backs bill to wind down US mortgage giants

Senate panel backs bill to wind down US mortgage giants

A US Senate panel Thursday narrowly approved reforms that would eliminate government-controlled mortgage finance giants Fannie Mae and Freddie Mac and encourage a greater private-sector role in home loans. The Senate Banking Committee greenlighted the bip
Published 16 May, 2014 12:00am
Senate panel backs bill to wind down US mortgage giants

Senate panel backs bill to wind down US mortgage giants

A US Senate panel Thursday narrowly approved reforms that would eliminate government-controlled mortgage finance giants Fannie Mae and Freddie Mac and encourage a greater private-sector role in home loans. The Senate Banking Committee greenlighted the bip
Published 16 May, 2014 12:00am
Mounting anger as Turkey mourns mine workers

Mounting anger as Turkey mourns mine workers

Loudspeakers broadcast the names of the dead as rows of graves were filled in this close-knit Turkish mining town on Thursday, while thousands protested in major cities as grief turned to anger following the country's deadliest industrial disaster. Rescue
Published 16 May, 2014 12:00am
Bangladesh ferry carrying hundreds sinks

Bangladesh ferry carrying hundreds sinks

A heavily-laden ferry capsized and sank in central Bangladesh on Thursday after being caught in a storm, leaving at least 12 people dead and hundreds more missing, police and officials said. Survivors of what is the latest in a string of ferry disasters t
Published 16 May, 2014 12:00am
Iraqi militants attack Baghdad court, kill Prisoners

Iraqi militants attack Baghdad court, kill Prisoners

Militants killed 10 people in an assault on a Baghdad court involving suicide bombers and shot dead five army officers in attacks Thursday amid a surge of post-election violence. The attacks were the worst in unrest that left 20 people dead nation-wide, p
Published 16 May, 2014 12:00am
New deaths take Saudi MERS toll to 160

New deaths take Saudi MERS toll to 160

Health authorities in Saudi Arabia on Thursday announced the deaths of another three people from the MERS respiratory virus, taking the country's toll to 160. The health ministry's daily bulletin on the Middle East Respiratory Syndrome outbreak in the Gul
Published 16 May, 2014 12:00am
America Movil offers to buy rest of Telekom Austria

America Movil offers to buy rest of Telekom Austria

  • Mexican tycoon Carlos Slim's America Movil offered Thursday to buy the 45 percent of Telekom Austria not owned by it or its partner, the Austrian government holding company OeIAG. Seeking to lock in its presence in Europe after being forced to give up i
Published 16 May, 2014 12:00am
French inflation index rises amid eurozone deflation worry

French inflation index rises amid eurozone deflation worry

Inflation in France edged up in April, French official data showed on Wednesday against a background of speculation that the European Central Bank may soon act to ward off any threat of deflation in the eurozone. French consumer prices rose by 0.7 percent
Published 16 May, 2014 12:00am
US Midwest corn bids higher in light trade

US Midwest corn bids higher in light trade

Corn spot basis bids were steady to slightly higher around the US Midwest on Wednesday in very light trade, dealers said. Slow crop movement has led some plants to increase their bids for processing supplies. Dealers said farmers were largely uninterested
Published 16 May, 2014 12:00am
Depleting stocks push up cotton prices

Depleting stocks push up cotton prices

As current crop cotton (2013 / 2014) is depleting fast in the domestic market, prices of higher grades are moving up due to paucity of supplies. From an estimated 250,000 bales of cotton (155 Kgs) left over from the current season, most of it is likely to
Published 16 May, 2014 12:00am
Depleting stocks push up cotton prices

Depleting stocks push up cotton prices

As current crop cotton (2013 / 2014) is depleting fast in the domestic market, prices of higher grades are moving up due to paucity of supplies. From an estimated 250,000 bales of cotton (155 Kgs) left over from the current season, most of it is likely to
Published 16 May, 2014 12:00am
Prices firm amid moderate trading

Prices firm amid moderate trading

Prices held the overnight firmness on the cotton market on Thursday due to persistent demand by needy millers and spinners, dealers said. The official spot rate maintained last level at Rs 6,700, they added. In the ready session, approximately 9000 bales
Published 16 May, 2014 12:00am
Oil cake market rates

Oil cake market rates

Stable trend was seen on the forward cottonseeds oilcake market on Thursday in process of trading, dealers said. The May contract closed at Rs 1752.00 and it commenced with no change in the morning session, the July vaida ended at Rs 1851.10 and it showed
Published 16 May, 2014 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 153,362 tonnes of cargo comprising 120,926 tonnes of import cargo and 32,436 tonnes of export cargo including 5,859 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargo of 1
Published 16 May, 2014 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures fell on Wednesday, giving up earlier gains on profit-taking and snapping a five-day winning streak. Market was supported during the streak by a lack of farmers' selling, and short-covering by some investors. Canola also underpi
Published 16 May, 2014 12:00am
Declining trend prevails on grain market

Declining trend prevails on grain market

A downward trend was witnessed on the wholesale grain market on Thursday in process of modest trading, dealers said. On the cereals side, Masoor Canada lost Rs 100 to Rs 8700 and the Masoor Dall Canada also lost the same amount to Rs 10200, Gur low type w
Published 16 May, 2014 12:00am
CBOT wheat futures fall for sixth session

CBOT wheat futures fall for sixth session

Wheat futures on the Chicago Board of Trade fell Wednesday for a sixth straight session on chart-based selling and sluggish export demand for US supplies amid ample global wheat supplies, traders said. Technical selling accelerated as CBOT July wheat fell
Published 16 May, 2014 12:00am
China sells 92 percent of soya on offer in state sale

China sells 92 percent of soya on offer in state sale

China's government sold 92 percent of the soyabeans offered at a regular auction on Tuesday, indicating strong demand after state stockpiling tightened supplies in the country's inland provinces. The government sold 276,168 tonnes of the 300,000 tonnes on
Published 16 May, 2014 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Thursday at Pakistan Mercantile Exchange (PMEX) the value traded was reported at PKR 2,141 million. Number of lots traded was registered at 10,757and PMEX Commodity Index closed at 3,039 Major business was contributed by crude oil amounting to PKR 1,05
Published 16 May, 2014 12:00am
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