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Print - 2015-02-24
Ivory Coast weather conditions encourage cocoa flowering

Ivory Coast weather conditions encourage cocoa flowering

A mix of rain and sunshine last week across most of Ivory Coast's main cocoa growing regions aided the development of new flowers, raising optimism ahead of the April-to-September mid-crop harvest, farmers said on Monday. As the main crop tails off, farme
Published 24 Feb, 2015 12:00am
India oilseeds, soyaoil fall; cumin seed rises

India oilseeds, soyaoil fall; cumin seed rises

Indian soyaoil futures fell on Monday, following weak Malaysian cues and on subdued local demand, while sluggish oilmeal exports weighed on soyabean futures. Malaysian palm oil futures fell to their lowest in 2-1/2 weeks on Monday when the market reopened
Published 24 Feb, 2015 12:00am
Oil cake market rates

Oil cake market rates

Mixed patterns were seen on the forward cottonseed oilcake market on Monday in the process of trading, dealers said. The January contract closed at Rs 1566.30 on Saturday, and it commenced with a rise of 10 paisa at Rs 1566.40 in the morning session, they
Published 24 Feb, 2015 12:00am
Morocco to harvest record cereal crop

Morocco to harvest record cereal crop

Morocco is on course to harvest a record cereal crop of more than 10 million tonnes this year after favourable rainfall so far during the growing season, a farm ministry official said on Monday. "We think there could be record production. We could have mo
Published 24 Feb, 2015 12:00am
Israeli group tenders to buy corn, wheat

Israeli group tenders to buy corn, wheat

A group of Israeli private buyers has issued international tenders to purchase up to 90,000 tonnes of corn and 25,000 tonnes of feed wheat, both of optional origin, European traders said on Monday. The tenders close on Wednesday, February 25, they said.
Published 24 Feb, 2015 12:00am
Poor quality, ample supply hit Kazakh grain exports

Poor quality, ample supply hit Kazakh grain exports

Kazakhstan's grain exports have shrunk by a quarter so far this marketing year, hit by poor grain quality and heavy supply of from other producers, the Agriculture Ministry said on Monday. Central Asia's largest grain producer, Kazakhstan exported 4.26 mi
Published 24 Feb, 2015 12:00am
Lean business on grain market

Lean business on grain market

A few changes were seen on the wholesale grain market on Monday in the process of trading, dealers said. On the rice sector, Irri-6 Sindh low type gained Rs 15 to Rs 2740 while the best type was unchanged at Rs 2800, other varieties maintained overnight l
Published 24 Feb, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Friday at Pakistan Mercantile Exchange (PMEX) value traded was PKR 1.580 billion. The number of lots traded was 12,442 and PMEX Commodity Index closed at 2,555. Major business was contributed by crude oil amounting to PKR 957 million. This was followed
Published 24 Feb, 2015 12:00am
Indian tea prices fall

Indian tea prices fall

Average tea prices in India, the world's second-biggest producer, plunged at last week's auction on sluggish demand and rising supplies of poor quality leaf. The CTC (crush-tear-curl) grade leaf was sold at 109.07 rupees ($1.75) per kg last week, down 9.5
Published 24 Feb, 2015 12:00am
Russian natural gas flows to Ukraine stable

Russian natural gas flows to Ukraine stable

Russian natural gas flows to Ukraine are stable, Ukrainian gas pipeline operator Ukrtransgaz said on Monday. Ukraine had received around 46.5 million cubic metres of gas on February 21, a spokesman said. Supplies from Russia's Gazprom resumed on December
Published 24 Feb, 2015 12:00am
Jordan seeks to buy hard wheat

Jordan seeks to buy hard wheat

Jordan's state grain buyer has issued an international tender to purchase 100,000 tonnes of hard milling wheat which can be sourced from optional origins, European traders said on Monday. The tender closes on Mar. 4, they said. Some 50,000 tonnes was soug
Published 24 Feb, 2015 12:00am
Asian naphtha crack rebounds on supply crunch

Asian naphtha crack rebounds on supply crunch

The Asian naphtha crack rebounded from a three-week low to reach a one-week high of $97.98 a tonne due to a persistent supply crunch caused by low volumes of cargoes streaming to the East from Europe and the United States, traders said on Monday. South Ko
Published 24 Feb, 2015 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 198,485 tonnes of cargo comprising 137,152 tonnes of import cargo and 61,333 tonnes of export cargo including 6,517 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargo of 137
Published 24 Feb, 2015 12:00am
CFTC subpoenaed HSBC Bank USA for documents on metals trading

CFTC subpoenaed HSBC Bank USA for documents on metals trading

The Commodity Futures Trading Commission issued a subpoena to HSBC Bank USA in January seeking documents related to the bank's precious metals trading operations, HSBC said in its annual report and accounts statement on Monday. The US Department of Justic
Published 24 Feb, 2015 12:00am
Cameroon cocoa grinder purchases down 17 percent

Cameroon cocoa grinder purchases down 17 percent

Cameroon's cocoa grinders purchased 24,855 tonnes of beans by the end of January, down 17 percent on the same stage of last year, according to statistics from the National Cocoa and Coffee Board (NCCB) on Thursday. Sic-Cacaos, a subsidiary of Swiss chocol
Published 24 Feb, 2015 12:00am
Copper dips as oil falls, eyes Fed testimony

Copper dips as oil falls, eyes Fed testimony

Copper slipped in relatively thin trade on Monday as oil prices dropped, with the market shrugging off a European debt deal for Greece and attention shifting to upcoming testimony by the US central bank chief. Three-month copper on the London Metal Exchan
Published 24 Feb, 2015 12:00am
Oil down on high supply, heating oil spikes again

Oil down on high supply, heating oil spikes again

Crude oil futures were lower on Monday as investors worried about oversupply and a strong dollar, but heating oil jumped about 6 percent for a second straight day due operational problems at major US refineries. Crude fell as the weekly decline in US rigs
Published 24 Feb, 2015 12:00am
Rubber down

Rubber down

Benchmark Tokyo rubber futures ended down 2.4 percent on Monday, marking the first decline in three sessions, amid uncertainty whether the producers' group can come up with measures to bolster prices amid excess supply and weak demand, dealers said. Tokyo
Published 24 Feb, 2015 12:00am
Platts to shut Lausanne sugar operation later this year

Platts to shut Lausanne sugar operation later this year

Data provider Platts will shut its Lausanne office, where some Platts Kingsman sugar analysts are based, later this year as it centralises its agricultural operations in London. "This means that later this year we will be closing our Lausanne (Switzerland
Published 24 Feb, 2015 12:00am
Palm oil drops after holiday, dragged by weak soyaoil

Palm oil drops after holiday, dragged by weak soyaoil

Malaysian palm oil futures fell to their lowest level in 2-1/2 weeks on Monday when the market reopened after the Lunar New Year holiday as losses in rival soyaoil markets plus sluggish export demand outweighed a drop in the ringgit. The US soyaoil contra
Published 24 Feb, 2015 12:00am
Raw sugar at 2010 low as March premium jumps ahead of expiry

Raw sugar at 2010 low as March premium jumps ahead of expiry

Chart-based selling pushed raw sugar futures on ICE to the lowest in nearly five years on Monday, but the premium of the spot contract surged to the highest since November 2013 with expectations for a small March delivery. Arabica coffee futures dropped 3
Published 24 Feb, 2015 12:00am
Gold little changed in Asia

Gold little changed in Asia

Gold hovered around the key $1,200-an-ounce level on Monday, its lowest in seven weeks, as support for the safe-haven metal eased after a deal was struck over Greece's debt, while the absence of major consumer China also took a toll. Spot gold was little
Published 24 Feb, 2015 12:00am
Gold hits seven-week low in European trade

Gold hits seven-week low in European trade

Gold fell to its lowest in seven weeks on Monday, as the dollar gained following the deal on Greek debt, which curbed investor flight for safety, while the absence of major consumer China due to a holiday also took its toll. Spot gold dropped 0.9 percent
Published 24 Feb, 2015 12:00am
US MIDDAY: corn and wheat slide

US MIDDAY: corn and wheat slide

US wheat and corn futures fell to near three-week lows on Monday as a strong dollar loomed over export demand along with aggressive competition from overseas suppliers, traders said. Soyabeans, which have been underpinned by a tug-of-war for nearby suppli
Published 24 Feb, 2015 12:00am
US MIDDAY: gold rebounds

US MIDDAY: gold rebounds

Gold bounced back from an earlier seven-week low early on Monday as the dollar pared gains after a bigger-than-expected fall in US data raised doubts about whether the Federal Reserve might raise interest rates this summer. Data on Monday showed that US h
Published 24 Feb, 2015 12:00am
Zambia pledges to prevent job losses at threatened copper mine

Zambia pledges to prevent job losses at threatened copper mine

Zambia's president said Monday the government would act to prevent job losses if Canadian mining giant Barrick Gold pulled out of the copper-rich country over its hiking of mineral royalties. President Edgar Lungu promised "not allow a single mining job t
Published 24 Feb, 2015 12:00am
Honda boss stepping down amid exploding air bag crisis

Honda boss stepping down amid exploding air bag crisis

Japanese carmaker Honda said Monday that its president was stepping down as the firm grapples with an exploding air bag crisis linked to at least five deaths that also led to the recall of millions of vehicles. The firm said the move was squarely aimed at
Published 24 Feb, 2015 12:00am
Obama presses new rule for broker advice on retirement investments

Obama presses new rule for broker advice on retirement investments

President Barack Obama will direct the Department of Labour on Monday to proceed with new rules that would rein in conflicts of interests among Wall Street brokers who advise clients on retirement investments, administration officials said.
Published 24 Feb, 2015 12:00am
Obama presses new rule for broker advice on retirement investments

Obama presses new rule for broker advice on retirement investments

President Barack Obama will direct the Department of Labour on Monday to proceed with new rules that would rein in conflicts of interests among Wall Street brokers who advise clients on retirement investments, administration officials said.
Published 24 Feb, 2015 12:00am
US existing home sales at nine-month low, supply limited

US existing home sales at nine-month low, supply limited

US home resales fell sharply to their lowest level in nine months in January amid a shortage of properties on the market, a setback that could temper expectations for an acceleration in housing activity this year. The National Association of Realtors said
Published 24 Feb, 2015 12:00am
Apple to spend $1.9 billion on new European data centres

Apple to spend $1.9 billion on new European data centres

Apple Inc said it would spend 1.7 billion euros ($1.9 billion) to build two data centres in Europe that would be entirely powered by renewable energy and create hundreds of jobs. The company said the centres, in Ireland and Denmark, will power Apple's onl
Published 24 Feb, 2015 12:00am
EU investment bank sees no new projects in Greece

EU investment bank sees no new projects in Greece

The EU's investment bank said Monday it sees no need for new projects in Greece, focusing its efforts elsewhere to get the European economy back on track. Greece is desperate for investment as it tries to renegotiate a painful bailout programme with its i
Published 24 Feb, 2015 12:00am
Zimbabwe appeals to AfDB to relax payment arrears terms

Zimbabwe appeals to AfDB to relax payment arrears terms

Zimbabwe's finance minister appealed Monday to the African Development Bank to ease the terms on the $566 million it is late in repaying. "I have appealed to the bank (AfDB) to help us clear the arrears," Patrick Chinamasa said after meeting bank executiv
Published 24 Feb, 2015 12:00am
Singapore raises taxes on rich to fund rising social spending

Singapore raises taxes on rich to fund rising social spending

Singapore on Monday announced income tax rises for the top five percent of the population to fund rising social spending targeted at the poor and elderly in the rapidly ageing city-state. The marginal personal income tax rate for those earning above Sg$32
Published 24 Feb, 2015 12:00am
UK raises $769 million through sale of Lloyds shares

UK raises $769 million through sale of Lloyds shares

Britain's finance ministry has raised 500 million pounds ($769 million) through the sale of a further one percent stake in Lloyds Banking Group, cutting its holding to below 24 percent. The sale moves Lloyds another step towards a full return to private o
Published 24 Feb, 2015 12:00am
Brazil clarifies student loan programme

Brazil clarifies student loan programme

The Brazilian government on Monday said recent changes to a student loan program were only temporary, easing worries about cash flow for education companies and sending their shares higher. Late last year, the government without warning changed the rules
Published 24 Feb, 2015 12:00am
Japan farm minister resigns over money scandal

Japan farm minister resigns over money scandal

Japan's farm minister resigned on Monday after being accused of accepting illegal political funds, in a first blow to Prime Minister Shinzo Abe's new cabinet. Agriculture, Forestry and Fisheries Minister Koya Nishikawa submitted a letter of resignation to
Published 24 Feb, 2015 12:00am
Gulf markets consolidate as oil dips; telco deal boosts Egypt

Gulf markets consolidate as oil dips; telco deal boosts Egypt

Gulf equity markets were mostly soft on Monday after oil prices pulled back again, while Egypt rose on a fresh sign of foreign investor interest as foreign telecommunications firm Orange raised its stake in a local operator. Brent crude oil dropped below
Published 24 Feb, 2015 12:00am
Hong Kong stocks flat; Prada soars

Hong Kong stocks flat; Prada soars

Hong Kong shares ended little changed on Monday, with gains in Tencent Holdings offsetting weakness in casino operators and oil firms and as most investors stuck to the sidelines awaiting major corporate earnings later in the week. The Hang Seng index edg
Published 24 Feb, 2015 12:00am
Tokyo stocks hit fresh 15-year high

Tokyo stocks hit fresh 15-year high

Tokyo stocks rose 0.73 percent on Monday, hitting a fresh 15-year high on news eurozone ministers tentatively agreed to extend Greece's bailout by four months, giving it some crucial breathing room. The benchmark Nikkei 225 index at the Tokyo Stock Exchan
Published 24 Feb, 2015 12:00am
TSX edges lower

TSX edges lower

Canada's main stock index slipped on Monday as shares of energy companies were pulled lower by weakness in oil prices, offsetting a surge in Valeant Pharmaceuticals International Inc after the drugmaker announced a major acquisition. Another drag on the m
Published 24 Feb, 2015 12:00am
Southeast Asian markets: Manila, Jakarta close at record highs

Southeast Asian markets: Manila, Jakarta close at record highs

Southeast Asian stock markets traded range-bound on Monday, with Indonesian and Philippine shares marking their highest close, as many countries in the region returned from Lunar New Year holidays while investors shrugged off a Greek deal to avert an imme
Published 24 Feb, 2015 12:00am
Australian shares soar

Australian shares soar

Australian shares ended 0.5 percent higher on Monday, led by gains in financials, but resources shares were weighed under by a slew of disappointing earnings. Shares in Australian mining services firms fell sharply after they warned they will struggle to
Published 24 Feb, 2015 12:00am
Indian shares fall for second straight session

Indian shares fall for second straight session

Indian shares fell for the second straight session on Monday, dragged down by heavyweights such as Reliance Industries and financial stocks, as caution prevailed ahead of the federal budget due on February 28. Other bluechip stocks such as ITC Ltd, Housin
Published 24 Feb, 2015 12:00am
European shares at new seven-year high after Greek deal

European shares at new seven-year high after Greek deal

European shares closed at a new seven-year high on Monday, boosted by a deal late on Friday to extend Greece's financial rescue package. Britain's FTSE 100 index was the only major index to close lower, albeit only slightly, after HSBC reported a 17 perce
Published 24 Feb, 2015 12:00am
Sri Lankan stocks edge up

Sri Lankan stocks edge up

Sri Lankan stocks ended slightly firmer on Monday at a more than one-week high, led by large-caps such as Ceylon Tobacco Co Plc due to foreign inflows, but political uncertainty capped the gains, dealers said. The main stock index rose 0.16 percent, or 11
Published 24 Feb, 2015 12:00am
South African stocks hit record high

South African stocks hit record high

South Africa's main stock indices notched up record highs on Monday, with Adcock Ingram in the spotlight after receiving a $515 million takeover offer. Adcock surged 4.4 percent to 52.42 rand after Bidvest offered 6 billion rand, or 52 rand per share, for
Published 24 Feb, 2015 12:00am
Fall in HSBC pegs back FTSE

Fall in HSBC pegs back FTSE

A drop in the shares of banking group HSBC held back Britain's top equity index on Monday, although many traders still expected the UK stock market to reach record highs soon. The bluechip FTSE 100 index closed down by 3.04 points, flat in percentage term
Published 24 Feb, 2015 12:00am
Egyptian pound steady

Egyptian pound steady

Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Monday. A trader said the currency strengthened on the black market. The central bank has now kept the official exchange rate steady for three weeks after le
Published 24 Feb, 2015 12:00am
Canadian dollar extends retreat

Canadian dollar extends retreat

The Canadian dollar weakened against its US counterpart for the fourth straight session on Monday, hurt in large part by another slide in oil prices. Crude prices, which had more than halved between June and January, retreated on worries of excess crude s
Published 24 Feb, 2015 12:00am
Euro steadies in Asia

Euro steadies in Asia

The euro steadied on Monday as caution over Greece's future persisted despite a conditional loan extension reached late last week. Euro zone ministers late on Friday agreed to extend Greece's financial rescue package by four months after weeks of difficul
Published 24 Feb, 2015 12:00am
Early trade in New York: Dollar rises, euro falls

Early trade in New York: Dollar rises, euro falls

The dollar rose on Monday against most currencies as investors await clues from Tuesday's testimony from US Federal Reserve Chair Janet Yellen before a Senate panel on the timing of a possible interest rate increase. The euro retreated on lingering doubts
Published 24 Feb, 2015 12:00am
Swiss franc falls towards five-week lows in London

Swiss franc falls towards five-week lows in London

The Swiss franc shed over 1 percent against the dollar on Monday, dropping towards five-week lows as some of the Greece-related safety flows waned after a conditional loan extension for the bailed-out country was reached late last week. Despite a last-min
Published 24 Feb, 2015 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 Monday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 07.00-09.00 percent (Previous 07.00-09.00 percent).
Published 24 Feb, 2015 12:00am
Sri Lankan spot rupee steady

Sri Lankan spot rupee steady

The Sri Lankan spot rupee ended steady in dull trade on Monday as the central bank defended it via moral suasion, while currency forwards traded weaker after the monetary authority lifted a 2-cents-per-day premium limit, dealers said. The spot currency en
Published 24 Feb, 2015 12:00am
Won leads Asia FX losses

Won leads Asia FX losses

The South Korean won led losses among emerging Asian currencies on Monday ahead of US Federal Reserve Chair Janet Yellen's congressional testimony this week, and on the dollar's strength during Lunar New Year holidays last week in the region. A Greek debt
Published 24 Feb, 2015 12:00am
Australian and New Zealand dollar steady

Australian and New Zealand dollar steady

The Australian and New Zealand dollars were on a steadier footing on Monday, but the antipodean currencies remained vulnerable to domestic factors including from monetary policy and a raft of economic data. The Australian dollar rose to $0.7834, from Frid
Published 24 Feb, 2015 12:00am
Sterling inches higher, eyes on Yellen

Sterling inches higher, eyes on Yellen

Sterling inched higher in trade-weighted terms on Monday after a volatile week that saw it soar to its highest in more than six years against the basket of currencies measuring its broader strength. For all the pound's weakness against the dollar over the
Published 24 Feb, 2015 12:00am
Ukraine's currency hits new low as central bank tightens controls

Ukraine's currency hits new low as central bank tightens controls

Ukraine's battered national currency plummeted some 10 percent Monday as the central bank scrambled to strengthen currency controls in its latest bid to halt the slide. The average rate for the hryvnia - currently the worst performing currency in the worl
Published 24 Feb, 2015 12:00am
Holder backs misfiring Gayle

Holder backs misfiring Gayle

West Indies skipper Jason Holder has faith explosive opener Chris Gayle will break his run of low scores against Zimbabwe at the World Cup in Canberra on Tuesday. Frustrations have been building outside and inside the West Indies camp over Gayle's inabili
Published 24 Feb, 2015 12:00am
Federer sorry for India 'bleed blue' upset

Federer sorry for India 'bleed blue' upset

Roger Federer has apologised for getting caught up in the bitter rivalry between Indian and Pakistani cricket fans after he was pictured admiring the blue shirt of World Cup champions India in a marketing photo-shoot. The 17-time Grand Slam title winner s
Published 24 Feb, 2015 12:00am
Zong launches cricket service apps

Zong launches cricket service apps

On the occasion of Cricket World Cup 2015, Zong the leading cellular company has launched cricket service apps for its valued customers to enjoy cricket matches anytime and anywhere. Zong has launched two cricket apps, CricKit and CricMania. Both Apps are
Published 24 Feb, 2015 12:00am
Moeen Ali hits century as England open account

Moeen Ali hits century as England open account

Moeen Ali's century set up England's opening win in the World Cup in Christchurch on Monday when they downed Scotland by 119 run in their Pool A clash. Ali contributed a masterful 128 runs towards England's total of 303 and Scotland were all out for 184 w
Published 24 Feb, 2015 12:00am
Asadullah shines in Monthly Golf Session

Asadullah shines in Monthly Golf Session

The Royal Palm Monthly Medal Golf Session turned out to be an occasion for a battle between Asadullah Khan and Irfan Raja in the 13 to 18 handicap category and a heated tussle between Faisal Sayid and Omer Ehsan Dar in the zero to twelve handicap group he
Published 24 Feb, 2015 12:00am
Horlicks sponsors 16th Interschool Scrabble Championship

Horlicks sponsors 16th Interschool Scrabble Championship

The Horlicks 16th Interschool Scrabble Championship was held on the 22nd February 2015 at the Marriott Hotel Karachi. Approximately 1,000 school-children from all over Pakistan with their families attended this event, which was the biggest collaboration b
Published 24 Feb, 2015 12:00am
Egypt quit race to host 2017 Cup of Nations

Egypt quit race to host 2017 Cup of Nations

Egypt have quit the race to host the 2017 Africa Cup of Nations two weeks after 19 people died outside a Cairo football stadium, a government minister said Sunday. "We have decided to withdraw our application and will support that of Algeria," sports mini
Published 24 Feb, 2015 12:00am
Ivorian former first lady questions charges over post-poll unrest

Ivorian former first lady questions charges over post-poll unrest

Ivory Coast's former first lady Simone Gbagbo on Monday questioned the charges against her as she testified in court for the first time on charges of undermining state security. "I don't know exactly what the concrete actions are that I am being accused o
Published 24 Feb, 2015 12:00am
Israel cuts power to two Palestinian cities over debt

Israel cuts power to two Palestinian cities over debt

Israel on Monday cut off power to two Palestinian cities in the northern West Bank for an hour over unpaid electricity bills, officials on both sides said. The power cut took place in the northern city of Nablus as well as in Jenin, local Palestinian offi
Published 24 Feb, 2015 12:00am
Maldives former leader refused bail, denied legal access

Maldives former leader refused bail, denied legal access

A court in the Maldives on Monday refused bail to former president Mohamed Nasheed after he was arrested on terrorism charges and denied access to his lawyers, his party said. Police forcibly dragged the opposition leader into the court in the capital Mal
Published 24 Feb, 2015 12:00am
Iran nuclear talks made progress but still 'long way to go': US

Iran nuclear talks made progress but still 'long way to go': US

High-level talks in Switzerland on Tehran's disputed nuclear programme were "useful and constructive" but a deal is still a long way off, a senior US administration official said Monday. "These were serious, useful and constructive discussions. We have ma
Published 24 Feb, 2015 12:00am
French carrier joins fight as US reviews anti-IS effort

French carrier joins fight as US reviews anti-IS effort

A French aircraft carrier launched operations against the Islamic State group on Monday as the new Pentagon chief summoned top generals and diplomats to Kuwait to review the war effort. US Defence Secretary Ashton Carter vowed the jihadists would suffer a
Published 24 Feb, 2015 12:00am
Turkey's evacuation of Syrian tomb 'no retreat': Erdogan

Turkey's evacuation of Syrian tomb 'no retreat': Erdogan

Turkey's decision to evacuate an historic tomb and the soldiers guarding it from Syrian territory was not a retreat, President Recep Tayyip Erdogan said Monday, rejecting opposition claims Ankara had surrendered the area to jihadists. Erdogan indicated th
Published 24 Feb, 2015 12:00am
Russia accuses US of bringing 'chaos' to Middle East

Russia accuses US of bringing 'chaos' to Middle East

Russian Foreign Minister Sergei Lavrov accused the United States on Monday of plunging the Middle East into chaos and fuelling the rise of extremists because of its drive to dominate the world. Lavrov levelled the fierce criticism of Washington's policies
Published 24 Feb, 2015 12:00am
Quake rocks central Spain

Quake rocks central Spain

A 5.4-magnitude earthquake jolted Madrid and central Spain on Monday, seismologists said, but there were no immediate reports of casualties or damage. The quake struck at 5:16 pm (1616 GMT) with its epicentre at Ossa de Montiel near Albacete, about 220 ki
Published 24 Feb, 2015 12:00am
Top British lawmakers deny wrongdoing over 'cash for access' report

Top British lawmakers deny wrongdoing over 'cash for access' report

Two former British foreign ministers denied wrongdoing on Monday after they were filmed offering their services to a fake Chinese company in return for thousands of pounds, reigniting a damaging 2010 "cash for access" row just months before an election.
Published 24 Feb, 2015 12:00am
Rahul Gandhi takes break to 'reflect' on party future

Rahul Gandhi takes break to 'reflect' on party future

Beleaguered Indian Congress party leader Rahul Gandhi is taking a break from politics to "reflect" on the future course of his party after a series of electoral defeats, officials said Monday. Gandhi has been heavily criticised for his lacklustre leadersh
Published 24 Feb, 2015 12:00am
Libya parliament 'suspends' participation in talks

Libya parliament 'suspends' participation in talks

Libya's internationally recognised parliament on Monday suspended its participation in UN-brokered talks on the future of the war-wracked North African state, officials said. "The chamber of representatives today voted in favour of suspending its particip
Published 24 Feb, 2015 12:00am
Never be late again: Japan clocks keep time for 16 billion years

Never be late again: Japan clocks keep time for 16 billion years

Japanese researchers have built a pair of clocks which they say are so accurate they will lose a second only every 16 billion years - longer than the Earth has been around. "Cryogenic optical lattice clocks" are not pretty - they look more like giant stri
Published 24 Feb, 2015 12:00am
Four killed in twin suicide bombings south of Damascus

Four killed in twin suicide bombings south of Damascus

Two simultaneous suicide attacks killed four people and wounded 13 on Monday in southern Damascus near a Shia shrine, Syria's state news agency SANA reported. The agency, quoting police, said the twin attack took place at a security checkpoint near the sh
Published 24 Feb, 2015 12:00am
UK police brief students at school of Syria-bound girls

UK police brief students at school of Syria-bound girls

The headmaster of a London school attended by three girls believed headed for Syria on Monday called for their return as police briefed staff and students on the threat of radicalisation. Mark Keary, headmaster of east London's Bethnal Green Academy, said
Published 24 Feb, 2015 12:00am
Cotton falls on profit-taking after fourth straight weekly gain

Cotton falls on profit-taking after fourth straight weekly gain

ICE cotton fell on Monday as speculators took profits in light trading following four consecutive weeks of gains and a weak US export sales report last week. The most-active May cotton contract on ICE Futures US fell 0.46 cent, or 0.7 percent, to settle a
Published 24 Feb, 2015 12:00am
TI Pakistan condoles death of Justice Bhagwandas

TI Pakistan condoles death of Justice Bhagwandas

The Chairman and Trustees of Transparency International Pakistan condoled the sad demise of Justice Rana Bhagwandas. Bhagwandas was an upright, courageous and an honest judge who administered justice without any favour or fear.
Published 24 Feb, 2015 12:00am
EFU General Insurance

EFU General Insurance

Formed in 1932, under the leadership of Mr Ghulam Muhammad, EFU General Insurance stands as the leading insurer in the private non-life insurance sector of Pakistan. The company was incorporated with the financial support of Agha Khan III and the Nawab of
Published 24 Feb, 2015 12:00am
EFU General Insurance

EFU General Insurance

Formed in 1932, under the leadership of Mr Ghulam Muhammad, EFU General Insurance stands as the leading insurer in the private non-life insurance sector of Pakistan. The company was incorporated with the financial support of Agha Khan III and the Nawab of
Published 24 Feb, 2015 12:00am
Two power transmission towers blown up in Thal

Two power transmission towers blown up in Thal

Miscreants on Monday blew up two towers of main power transmission line of 132 KV, near Thal area of Balochistan. According to the sources, many parts of the Sindh and Balochistan were plunged into darkness when the militants blew up the two towers of mai
Published 24 Feb, 2015 12:00am
Non-registered: Sindh seminaries closed down

Non-registered: Sindh seminaries closed down

Security forces have killed over 180 militants affiliated with different proscribed organisations and 700 other criminals involved in various cases of dacoities, kidnapping and extortion, during the ongoing targeted operation in Karachi since September 20
Published 24 Feb, 2015 12:00am
Nooriabad tragedy: Transporters urged to ensure proper vehicle fitness

Nooriabad tragedy: Transporters urged to ensure proper vehicle fitness

Sindh Bus Owners Association (SBOA) has urged buses owners to ensure proper maintenance and fitness of their vehicles to avert the incident such as occurred on Sunday night, which claimed 12 precious lives at Nooriabad. President SBOA, Mir Afazal Khan sai
Published 24 Feb, 2015 12:00am
Pakistan to procure 75 locomotives from China

Pakistan to procure 75 locomotives from China

Pakistan Muslim League-Nawaz (PML-N) government will procure as many as 75 locomotives at an estimated cost of Rs 46.8 billion including foreign exchange component from China in the next three years, it is learnt. According to sources, the new locomotives
Published 24 Feb, 2015 12:00am
LUMHS to hold seminar on dental education

LUMHS to hold seminar on dental education

Liaquat University of Medical Hospital and Science (LUMHS) would hold seminar on "Achieving Excellence in Dental Education for Pakistan 2015" at Governor Sindh House Karachi on February 25. The convenor of the seminar, Professor Shahjahan Katpar made this
Published 24 Feb, 2015 12:00am
NBFCs: SECP proposes regulatory amendments

NBFCs: SECP proposes regulatory amendments

The conditions for obtaining deposit taking permission by lending Non-Banking Finance Company (NBFCs) from the Securities and Exchange Commission of Pakistan (SECP) has been proposed to be made more stringent to protect the interest of the general public.
Published 24 Feb, 2015 12:00am
EBM held: NAB decides to file two references

EBM held: NAB decides to file two references

The Executive Board Meeting (EBM) of National Accountability Bureau (NAB) was held under the chairmanship of Qamar Zaman Chaudhry, Chairman NAB at NAB Headquarter here on Monday. The following decisions were made during the meeting.
Published 24 Feb, 2015 12:00am
SECP issues draft of Real Estate Investment Trust Regulations 2015

SECP issues draft of Real Estate Investment Trust Regulations 2015

The public limited company that intends to undertake Real Estate Investment Trust (REIT) management services shall have paid up capital of not less than Rs 50 million prior to applying for license and submit documentary evidence that it has equity of at l
Published 24 Feb, 2015 12:00am
PTC contributes over Rs 74 billion duties, taxes to kitty

PTC contributes over Rs 74 billion duties, taxes to kitty

Pakistan Tobacco Company (PTC) has contributed over Rs 74 billion to the government in the form of federal excise duty (FED), sales tax, income tax and customs duty during January-December 2014 as compared to the same period of last year, reflecting an in
Published 24 Feb, 2015 12:00am
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