August 10, 2009
 The pound started this week continuing Friday’s bearish trend after the Great Britain government affirmed that the current asset purchasing program will be expanded, raising concerns that the British financial system is still in a delicate situation.
Today during the start of the European trading session, U.K. gilts rose and the pound lost versus most of the 16 main traded currencies as the outlook for the British economy stills more negative than most of other global economic regions. The quantitative easing program to be expanded by the Bank of England halted the strongest winning streak for the pound which brought it to a 10-month high versus the dollar and a 1-month high versus the euro, as these measures can be interpreted as an attempt to rescue the problematic economic situation in the country. A rare economic phenomena in the U.K. is leading analysts to believe that the end of the current recession will not be necessarily followed by times of prosperity, which is definitely weighing on the pound. The artificial credit system made the United Kingdom to be one of the most economically successful countries in the European Union for many years, but from now on, the Brits will have to rely on different methods to bring growth back to the nation’s economic figures. GBP/USD fell to 1.6627 as of 11:23 GMT from an opening price yesterday of 1.6685. EUR/GBP climbed to 0.8539 from 0.8499. If you want to comment on the Great Britain pound’s recent action or have any questions regarding this currency, please, feel free to reply below.
Posted by Tehreem qadri.
August 10, 2009
(RTTNews) - The euro was mixed against other major currencies on Monday in New York as investors continued to consider interest rate decisions in Europe last week, while looking ahead to the U.S. Federal Reserve's decision later in the week. The euro continued to pull back versus the dollar, and also slipped versus the yen, as weaker global stocks limited risk appeal. The European currency had reached its best levels of 2009 last week versus the greenback. On the economic front, the Eurozone se... Continue reading...
Posted by Tehreem qadri.
August 1, 2009
WSHINGTON (Reuters) - President Barack Obama warned on Saturday it would take "many more months" for the United States to get out of recession even after GDP figures showed the economy shrank only modestly in the second quarter.
Obama, who has defended his young administration's economic policies in recent weeks in the face of worsening unemployment numbers, said jobless figures next week would still show that too many Americans were losing work. "It will take many more months to fully dig ours... Continue reading...
Posted by Tehreem qadri.
August 1, 2009
 DAMBULLA, Sri Lanka: Thilan Thushara and Muttiah Muralitharan shared five wickets as Sri Lanka bowled out Pakistan for 168 runs in the second one-day international here on Saturday. Pakistan, sent in to bat by Sri Lankan captain Kumar Sangakkara in overcast conditions, never recovered after losing a wicket off the first ball of the match and were bundled out in 47 overs.
The 26 extras sent down by the Sri Lankan bowlers, including 18 wides, were the highest contributor in Pakistan's dismal bat...
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Posted by Tehreem qadri.
August 1, 2009
 ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Friday notified for the first time the retail price of compressed natural gas (CNG) and reduced the prices of petroleum products by margins ranging between Rs1.24 and Rs1.77 per litre in August.According to the notification, CNG prices were reduced by 37 paisa to Rs49.73 per kilogram for the NWFP, Balochistan and the Potohar region, including Rawalpindi, Islamabad and Gujarkhan. However, prices for Sindh and Punjab, excluding the Potoh... Continue reading...
Posted by Tehreem qadri.
August 1, 2009
TEHRAN: Around 100 people accused of rioting after the disputed re-election of Mahmoud Ahmadinejad were put on trial in a Tehran revolutionary court on Saturday, the Fars news agency said. Among those in the dock were prominent reformists and supporters of opposition leaders Mir Hossein Mousavi and Mehdi Karroubi and aides of former reformist president Mohammad Khatami. The leading reformists on trial were Behzad Nabavi, a top member of the Islamic Republic Mujahedeen Organisation, Mohammad Atr... Continue reading...
Posted by Tehreem qadri.
August 1, 2009
ISLAMABAD: At least 110 judges of the Supreme Court, Federal Shariat Court and high courts will retire or revert to their respective institutions after the landmark judgment of the apex court in the judges’ case. The judgment will affect 15 judges of the Supreme Court, 41 of the Lahore High Court, 27 of the Sindh High Court, 10 from the Peshawar High Court, all five of the Balochistan High Court and eight of the Islamabad High Court and four from the Federal Shariat Court. Supreme Court judge... Continue reading...
Posted by Tehreem qadri.
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