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May 11, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2010-08-16
Gulf reforms key to private equity regaining allure

Gulf reforms key to private equity regaining allure

Private equity firms such as Kohlberg Kravis Roberts & Co and regional heavyweight Abraaj Capital which benefited from Dubai's boom years are now looking to the emirate for reforms needed to revive the sector.
Published 16 Aug, 2010 12:00am
Government's handling of floods

Government's handling of floods

Floods have wreaked havoc in the lives of more than 14 million people, with the number rising, and have further eroded Pakistan's already inadequate infrastructure base.
Published 16 Aug, 2010 12:00am
Do we need capacity additions?

Do we need capacity additions?

Pakistan since the last five years or so is beset with a serious power crisis spurned on account of inactivity and non-investment in the power sector for the last fifteen years in general and for a decade particularly. That it all remained hidden from the
Published 16 Aug, 2010 12:00am
Karachi violence: dealing with it the big cities' way

Karachi violence: dealing with it the big cities' way

Due to hazy property laws and regulations, militant gangs, who certainly derive their strength from certain political parties and groups had encroached upon community and public lands in Karachi in the past, which were transferred for private ownership to
Published 16 Aug, 2010 12:00am
Media and insensitive language

Media and insensitive language

"Taleem Ke Baghair Insaan Andha, Gonga aur Behra Hota Hai". This is correct but this public message conveyed a television channel pertaining to elections and voters' education is insulting. These insensitive words like "Andha", "Gonga" and "Behra" have lo
Published 16 Aug, 2010 12:00am
SECP suspends trading of 40 companies

SECP suspends trading of 40 companies

The Securities and Exchange Commission of Pakistan (SECP) has ordered suspension, initially for a period of 60 days or till further orders, of trading in the shares of 40 listed companies that are in continual violation/non-compliance of securities market
Published 16 Aug, 2010 12:00am
Film, TV artiste Bilal Khan passes away

Film, TV artiste Bilal Khan passes away

Famous young film and TV drama artiste Bilal Khan passed away at Pakistan Institute Medical Science (PIMS) after suffering 75 percent burn injuries. Bilal was injured in a gas explosion, while staying at a guest house for a TV drama shooting.
Published 16 Aug, 2010 12:00am
World Humanitarian Day on August 19

World Humanitarian Day on August 19

The World Humanitarian Day will be observed on August 19 to honour and celebrate work of humanitarians. This year the theme is "We are humanitarian workers", and it will focus on the actual work and achievements of humanitarians in the field.
Published 16 Aug, 2010 12:00am
Ten passengers' bodies sent to Lahore

Ten passengers' bodies sent to Lahore

The Balochistan government on Sunday sent 10 bodies of passengers killed in targeted killing near Aab-e-Gum on Saturday. According to Bolan Medical Complex Hospital officials, bodies were sent in ambulances with covering letter to Deputy Commissioner Laho
Published 16 Aug, 2010 12:00am
Kashmiris observe Indian Independence Day as Black Day

Kashmiris observe Indian Independence Day as Black Day

Kashmiris on both sides of Line of Control and the world over observed the Indian Independence Day, on Sunday, as Black Day to convey to the world that the people of Kashmir continue to be deprived of their birth right to self-determination.
Published 16 Aug, 2010 12:00am
ICAP sets up flood relief fund

ICAP sets up flood relief fund

The Institute of Chartered Accountants of Pakistan (ICAP) has set up a flood relief fund. This was announced by the president of the ICAP, Abdul Rahim Suriya, here on Sunday.
Published 16 Aug, 2010 12:00am
US intensifies strikes at al Qaeda targets

US intensifies strikes at al Qaeda targets

The US military conducted in May a secret air strike against a suspected al Qaeda target in Yemen and killed a deputy provincial governor in the process, The New York Times reported late Saturday.
Published 16 Aug, 2010 12:00am
Uzbek group attacks Afghan police, three dead

Uzbek group attacks Afghan police, three dead

Insurgents led by an Uzbek militant group attacked an Afghan police station killing one policeman, with two militants later killed in a Nato air strike, officials said Sunday. The insurgents attacked Ali Abad district police headquarters in the northern p
Published 16 Aug, 2010 12:00am
Ship crews robbed in Gulf off Iraqi oil hub Basra

Ship crews robbed in Gulf off Iraqi oil hub Basra

Gunmen robbed the crews of four ships anchored off Iraq's southern oil hub Basra last week in Iraqi regional waters patrolled by the US Navy, a Navy official said on Sunday.
Published 16 Aug, 2010 12:00am
South Korean president unveils unification plan

South Korean president unveils unification plan

South Korean President Lee Myung-Bak Sunday urged North Korea to end its military provocations and make a "courageous change" as he laid out a long-term plan for reunification. "It is about time Pyongyang looked straight at reality, made a courageous chan
Published 16 Aug, 2010 12:00am
Foreign troops deaths in Afghanistan pass 2,000

Foreign troops deaths in Afghanistan pass 2,000

Total foreign military deaths in Afghanistan have passed 2,000 since the war began in late 2001, unofficial tallies showed on Sunday, more than 60 percent of them Americans but still far behind ever-growing civilian casualties.
Published 16 Aug, 2010 12:00am
Man arrested for starting fire near Canadian Prime Minister's residence

Man arrested for starting fire near Canadian Prime Minister's residence

Police said Sunday they have arrested a man for lighting a fire near the official residence of Prime Minister Stephen Harper in Ottawa. It was not known whether Harper and his family were home at the time of the incident, which occurred on Saturday evenin
Published 16 Aug, 2010 12:00am
Nine killed in Iraq attacks

Nine killed in Iraq attacks

A series of roadside bombs and shootings killed nine people, including two policemen and three worshippers, in and around Baghdad on Sunday, security officials said.
Published 16 Aug, 2010 12:00am
Fire prompts evacuations at hotels, offices near White House

Fire prompts evacuations at hotels, offices near White House

An underground transformer fire near the White House prompted the evacuation of two landmark hotels and the National Press Building in downtown Washington Saturday night. No injuries were reported. The fire broke out at about 8 pm (0000 GMT) about a block
Published 16 Aug, 2010 12:00am
Hamas, secular groups, oppose direct talks with Israel

Hamas, secular groups, oppose direct talks with Israel

Two secular Palestinian organisations joined Hamas on Sunday in calling on President Mahmoud Abbas not to bow to US pressure to resume direct peace talks with Israel, which they described as dangerous.
Published 16 Aug, 2010 12:00am
In sign of stability, Israel removes blast wall

In sign of stability, Israel removes blast wall

In a sign of improved stability in the West Bank, Israel is removing concrete blast walls put up eight years ago to shield a settlement on Jerusalem's outskirts from Palestinian gunfire and shells.
Published 16 Aug, 2010 12:00am
South African opposition parties merge to challenge ANC

South African opposition parties merge to challenge ANC

South Africa's largest opposition party said on Sunday it would merge with a small party but analysts said it was unlikely to pose a major challenge to the African National Congress in the 2014 election.
Published 16 Aug, 2010 12:00am
Japan marks the 65th anniversary of its surrender in World War II

Japan marks the 65th anniversary of its surrender in World War II

Japan held its annual ceremony Sunday to observe the 65th anniversary of the end of World War II, remembering 3.1 million soldiers and civilians who perished in the battle. On August 15, 1945, then-emperor Hirohito said in a rare public announcement that
Published 16 Aug, 2010 12:00am
Obama, daughter swim in Gulf in act of reassurance

Obama, daughter swim in Gulf in act of reassurance

US President Barack Obama and his daughter have taken a dip in the Gulf of Mexico in an attempt to reassure Americans that, despite a massive oil spill, its waters remain safe for tourists. The president, First Lady Michelle Obama, and their younger daugh
Published 16 Aug, 2010 12:00am
Iraq raises crude prices for US, cuts for Europe

Iraq raises crude prices for US, cuts for Europe

Iraq has raised the official selling price of Basra light crude to US buyers for September by 10 cents to $1.30 below the Argus (ASCI) benchmark, the State Oil Marketing Organisation (SOMO) said on Sunday. The September price for Kirkuk crude for US refin
Published 16 Aug, 2010 12:00am
AgBank confirms greenshoe, IPO hits record $22.1 billion

AgBank confirms greenshoe, IPO hits record $22.1 billion

Agricultural Bank of China (AgBank) said on Sunday it had fully exercised an over-allotment option for the Shanghai portion of its initial public offering, taking total proceeds from the offer to $22.1 billion, making the IPO the world's biggest.
Published 16 Aug, 2010 12:00am
AgBank confirms greenshoe, IPO hits record $22.1 billion

AgBank confirms greenshoe, IPO hits record $22.1 billion

Agricultural Bank of China (AgBank) said on Sunday it had fully exercised an over-allotment option for the Shanghai portion of its initial public offering, taking total proceeds from the offer to $22.1 billion, making the IPO the world's biggest.
Published 16 Aug, 2010 12:00am
Oman's GDP up 30.4 percent in first quarter

Oman's GDP up 30.4 percent in first quarter

Oman's economy grew 30.4 percent year-on-year in nominal terms in the first quarter, buoyed by higher oil prices and crude output, preliminary data showed on Sunday. The Gulf country's nominal gross domestic product jumped to 5.3 billion rials ($13.7 bill
Published 16 Aug, 2010 12:00am
Offshore firms buy into Russia's Silvinit

Offshore firms buy into Russia's Silvinit

Silvinit, Russia's No 1 potash producer at the centre of take-over speculation, said on Sunday two offshore firms have bought large minority stakes, without identifying the people behind the deals. Fenguard Ltd and Forman Commercial Ltd have bought 20 per
Published 16 Aug, 2010 12:00am
Sri Lanka launches new port built with Chinese loan

Sri Lanka launches new port built with Chinese loan

Sri Lanka flooded a new port on Sunday, built with Chinese assistance as part of a $6 billion drive to rebuild the island nation's infrastructure after a quarter century of war. The Hambantota port, built at an estimated cost of $1.5 billion on the southe
Published 16 Aug, 2010 12:00am
Abu Dhabi's Aabar fund makes $55 million in first half

Abu Dhabi's Aabar fund makes $55 million in first half

The Abu Dhabi state investment fund with big stakes in automaker Daimler and Italian bank UniCredit says it made 202 million dirhams ($55 million) in the first half of the year. Aabar Investments' earnings statement Sunday could be its last as a publicly
Published 16 Aug, 2010 12:00am
Abu Dhabi's Aabar fund makes $55 million in first half

Abu Dhabi's Aabar fund makes $55 million in first half

The Abu Dhabi state investment fund with big stakes in automaker Daimler and Italian bank UniCredit says it made 202 million dirhams ($55 million) in the first half of the year. Aabar Investments' earnings statement Sunday could be its last as a publicly
Published 16 Aug, 2010 12:00am
Spanish minister says may have to rise tax

Spanish minister says may have to rise tax

Spain's infrastructure minister said on Sunday he thought the country's tax burden was low, and may have to rise to ensure continued investment in public works. On Friday, Spain moved to revive around 500 million euros ($638.1 million) of public works it
Published 16 Aug, 2010 12:00am
Poverty in Taiwan at record high

Poverty in Taiwan at record high

The number of Taiwanese households living in poverty rose to a record high of 108,000 in the three months to June despite the continued growth of the economy, it was reported Sunday. The quarterly figure marked an increase of 10,000 households over a year
Published 16 Aug, 2010 12:00am
Aramco invites bids for Shaybah gas plant

Aramco invites bids for Shaybah gas plant

State oil giant Saudi Aramco has invited engineering firms to bid for the construction of a power plant related to a natural gas liquids (NGL) project at the kingdom's Shaybah oilfield, industry sources said on Sunday. Aramco is shifting its exploration a
Published 16 Aug, 2010 12:00am
Qatar cuts deposit rate, cites lower global rates

Qatar cuts deposit rate, cites lower global rates

Qatar cut its overnight deposit rate by 50 basis points, the first reduction in over two years, to bring it more into line with global and regional rates, the central bank said on Sunday. The cut to 1.5 percent is effective August 11, the bank's website w
Published 16 Aug, 2010 12:00am
German power firms threaten nuclear shut-off

German power firms threaten nuclear shut-off

Energy firms in Germany have threatened to switch off the country's nuclear power stations if Berlin presses ahead with plans for a tax on fuel rods, Spiegel magazine reported on Sunday. Chancellor Angela Merkel's government, however, dismissed E.ON, RWE,
Published 16 Aug, 2010 12:00am
Pipeline sabotage increasing in Nigeria: Shell

Pipeline sabotage increasing in Nigeria: Shell

Shell said Sunday sabotage of pipelines by oil thieves in southern Nigeria was on the increase and had led to halts in production without providing details on the amount of crude lost.
Published 16 Aug, 2010 12:00am
Qatar's Qtel second quarter net profit falls 45 percent

Qatar's Qtel second quarter net profit falls 45 percent

Qatar Telecommunications Co's posted a 45 percent drop in second-quarter net profit, after the year-ago quarter was boosted by a one-time gain. Net profit fell to 571 million riyals ($157 million) from 1,044 million riyals a year earlier, Qtel said. An an
Published 16 Aug, 2010 12:00am
Qatar's Qtel second quarter net profit falls 45 percent

Qatar's Qtel second quarter net profit falls 45 percent

Qatar Telecommunications Co's posted a 45 percent drop in second-quarter net profit, after the year-ago quarter was boosted by a one-time gain. Net profit fell to 571 million riyals ($157 million) from 1,044 million riyals a year earlier, Qtel said. An an
Published 16 Aug, 2010 12:00am
Germany eyes three percent growth in 2010

Germany eyes three percent growth in 2010

The German economy ministry has pencilled in around 3.0 percent growth this year, more than double the previous estimate, following the strong expansion seen in the second quarter, reports said Sunday.
Published 16 Aug, 2010 12:00am
US gasoline prices rise to about $2.77 a gallon

US gasoline prices rise to about $2.77 a gallon

The average price for a gallon of gasoline in the United States rose in the last three weeks but is expected to fall again, as a decline in the price of crude oil trickles down to the pump, an industry analyst said on Sunday.
Published 16 Aug, 2010 12:00am
Egyptian Resorts first half net drops

Egyptian Resorts first half net drops

Real estate firm Egyptian Resorts' net profit slumped more than 90 percent in the first six months of 2010, the bourse said on Sunday, after the company failed to sell any land. But analysts said the company's earnings could recover as soon as next year t
Published 16 Aug, 2010 12:00am
Egyptian Resorts first half net drops

Egyptian Resorts first half net drops

Real estate firm Egyptian Resorts' net profit slumped more than 90 percent in the first six months of 2010, the bourse said on Sunday, after the company failed to sell any land. But analysts said the company's earnings could recover as soon as next year t
Published 16 Aug, 2010 12:00am
Global Markets Weekahead: investors may be tempted to switch into cash

Global Markets Weekahead: investors may be tempted to switch into cash

Investors who bought stocks in early 2010 are in the red and many may be tempted to switch into cash - despite the risk that some central banks will renew efforts to make money more plentiful and therefore cheaper. Looking beyond Friday's evidence of star
Published 16 Aug, 2010 12:00am
UK income-hungry equities investors to feel payout blues

UK income-hungry equities investors to feel payout blues

Income-hungry equities investors chasing higher UK blue chip dividends will be frustrated for the next two years while rebounding companies keep a tight hold on cash in the choppy economic climate.
Published 16 Aug, 2010 12:00am
Tokyo shares likely to be weighed next week on weak GDP

Tokyo shares likely to be weighed next week on weak GDP

Tokyo shares are likely to be pressured next week ahead of Japan's widely expected weak second-quarter GDP figures and US economic data, as worries mount that recovery in advanced nations is stalling. In the week to August 13, the Tokyo Stock Exchange's N
Published 16 Aug, 2010 12:00am
Growing pains hurting European CMBS revival

Growing pains hurting European CMBS revival

Recovery in Europe's sluggish market for commercial property bonds is lagging up to five years behind the United States, delaying a return to cheaper borrowing and putting the brakes on real estate prices.
Published 16 Aug, 2010 12:00am
Growing pains hurting European CMBS revival

Growing pains hurting European CMBS revival

Recovery in Europe's sluggish market for commercial property bonds is lagging up to five years behind the United States, delaying a return to cheaper borrowing and putting the brakes on real estate prices.
Published 16 Aug, 2010 12:00am
Fed move seen boosting emerging market bonds

Fed move seen boosting emerging market bonds

Emerging market bonds are poised to be one of the best performing asset classes this year as renewed US monetary stimulus boosts the divergence between the bonds' double-digit returns and lacklustre equities. Sovereign dollar bonds have already gained 12
Published 16 Aug, 2010 12:00am
Fed move seen boosting emerging market bonds

Fed move seen boosting emerging market bonds

Emerging market bonds are poised to be one of the best performing asset classes this year as renewed US monetary stimulus boosts the divergence between the bonds' double-digit returns and lacklustre equities. Sovereign dollar bonds have already gained 12
Published 16 Aug, 2010 12:00am
Gulf reforms key to private equity regaining allure

Gulf reforms key to private equity regaining allure

Private equity firms such as Kohlberg Kravis Roberts & Co and regional heavyweight Abraaj Capital which benefited from Dubai's boom years are now looking to the emirate for reforms needed to revive the sector.
Published 16 Aug, 2010 12:00am
Smartphone apps help keep the faith on Ramazan

Smartphone apps help keep the faith on Ramazan

Smartphone software is helping Muslims keep the faith during the month-long rite of fasting and prayer known as Ramazan. August 11 marked the start of Ramazan, a period during which Muslims are to increase the number of times they pray daily and refrain f
Published 16 Aug, 2010 12:00am
The Weather

The Weather

The weather report on Sunday (August 15, 2010) and the forecast for Monday (August 16, 2010).

Published 16 Aug, 2010 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (August 09 to 13, 2010).

Published 16 Aug, 2010 12:00am
Federer wins another thriller to book final with Murray

Federer wins another thriller to book final with Murray

Roger Federer will return to world number two after reaching the ATP Toronto Masters final by dodging a bullet for the second night in a row, beating Novak Djokovic 6-1, 3-6, 7-5 on Saturday. The dramatic victory sets up a final against fourth-seeded Scot
Published 16 Aug, 2010 12:00am
Liverpool received take-over offers

Liverpool received take-over offers

Liverpool have received a number of take-over offers and will take time to examine them, the Premier League club's managing director said on Sunday after a media report suggested the sale process had broken down. Christian Purslow told BBC Radio he would
Published 16 Aug, 2010 12:00am
Arsenal grab freak lifeline at 10-man Liverpool

Arsenal grab freak lifeline at 10-man Liverpool

Arsenal grabbed a point with a freak late goal in a 1-1 draw at Liverpool at Anfield on Sunday in a Premier League clash which saw both sides finish the game with 10 players. David Ngog gave Liverpool a 46th minute lead, but Arsenal levelled in the 90th m
Published 16 Aug, 2010 12:00am
Indian Prime Minister intervenes to rescue Delhi Commonwealth Games

Indian Prime Minister intervenes to rescue Delhi Commonwealth Games

India's prime minister promised a successful Delhi Commonwealth Games Sunday, a day after he intervened to rescue the troubled event that has been beset by delays and allegations of corruption. "The successful organisation of the Commonwealth Games would
Published 16 Aug, 2010 12:00am
Japan claims first gold of inaugural Youth Games

Japan claims first gold of inaugural Youth Games

Japan's Yuka Sato wrote her name in the history books on Sunday by becoming the first gold medal winner of the inaugural Youth Olympic Games when she won the triathlon. The 18-year-old triumphed in Singapore with a commanding display ahead of Australia's
Published 16 Aug, 2010 12:00am
Senate committee summons Ejaz Butt on Thursday

Senate committee summons Ejaz Butt on Thursday

Pakistan senate standing committee on privileges motion has called the Pakistan Cricket Board (PCB) Chairman Ejaz Butt on Thursday (Aug,19) to answer charges that he criticised and questioned the credibility of some of its members on sports. Senator Tahir
Published 16 Aug, 2010 12:00am
'Inexperienced batsmen' can't compete against English team: Wasim

'Inexperienced batsmen' can't compete against English team: Wasim

Former Pakistan cricketer Mohammad Wasim has pointed out that the team with 'inexperienced batsmen' could not compete against an English team with a top order, which has scored 151 first class hundreds. "Pakistan's top order in comparison has scored only
Published 16 Aug, 2010 12:00am
Same again for England against Pakistan

Same again for England against Pakistan

England named the same XI on Sunday that had put them 2-0 up in their four-match series against Pakistan for the third Test starting at The Oval on Wednesday. Tim Bresnan, left out from a 12-man squad in the sides that won the first Test at Trent Bridge b
Published 16 Aug, 2010 12:00am
Yousuf worried about lack of match fitness

Yousuf worried about lack of match fitness

Pakistan batsman Mohammad Yousuf has admitted he is far from being match-fit for next week's third Test against England at The Oval. The former Pakistan captain was unable to add to his overnight 40 as rain washed out the second and final day of the touri
Published 16 Aug, 2010 12:00am
Top Iran footballer sacked for not fasting in Ramazan

Top Iran footballer sacked for not fasting in Ramazan

Popular Iranian footballer Ali Karimi, sometimes described as "the Maradona of Asia," has been fired by his club for not fasting during the Muslim holy month of Ramazan, the club said on Sunday.
Published 16 Aug, 2010 12:00am
Eye disorder common among diabetic adults

Eye disorder common among diabetic adults

Nearly 30 percent of US diabetics over the age of 40 may have a diabetes-related eye disorder, with 4 percent of this population affected severely enough that their vision is threatened, suggests a new study.
Published 16 Aug, 2010 12:00am
Scientists find new superbug spreading from India

Scientists find new superbug spreading from India

A new superbug could spread around the world after reaching Britain from India - in part because of medical tourism - and scientists say there are almost no drugs to treat it. Researchers said they had found a new gene called New Delhi metallo-beta-lactam
Published 16 Aug, 2010 12:00am
WHO declares swine flu pandemic over

WHO declares swine flu pandemic over

The World Health Organisation on August 10 announced the end of the swine flu pandemic, more than a year after the disease began spreading around the world, sparking panic and killing thousands. "The world is no longer in phase six of the pandemic alert.
Published 16 Aug, 2010 12:00am
Breath test may be able to detect common cancers

Breath test may be able to detect common cancers

An "electronic nose" could be used as a simple breath test to detect lung, breast, bowel and prostate cancers, Israeli scientists said. Using the sensor to pinpoint chemical variations, the team found they could not only distinguish between healthy and ma
Published 16 Aug, 2010 12:00am
Despite efforts, France fails to curb CO2

Despite efforts, France fails to curb CO2

France's carbon dioxide emissions have remained constant over the last two decades despite efforts to curb the potent greenhouse gas, a government agency reported on August 13. Between 1990 and 2007 - the most recent year for which figures are available -
Published 16 Aug, 2010 12:00am
Giant Greenland iceberg a climate 'warning sign'

Giant Greenland iceberg a climate 'warning sign'

A giant iceberg that snapped away from Greenland last week is a signal that global warming is causing the islansd's continent-sized ice cap to melt faster than expected, scientists say. The 250-square-kilometre (100-square-mile) chunk, four times the size
Published 16 Aug, 2010 12:00am
Plastic Logic spikes release of QUE electronic reader

Plastic Logic spikes release of QUE electronic reader

Plastic Logic on August 11 announced it is cancelling plans to release a QUE electronic reader aimed at giving business travellers a "paperless briefcase" amid stiff competition from Apple and Amazon. The California-based firm proudly showed off the slim,
Published 16 Aug, 2010 12:00am
Volkswagen sales up 2.9 percent in July

Volkswagen sales up 2.9 percent in July

Germany's Volkswagen, Europe's biggest automaker, gained 2.9 percent in July to 572,200 vehicles world-wide, it said on August 13. In the seven-month period from January through July, the VW group sold more than four million vehicles, the first time it ha
Published 16 Aug, 2010 12:00am
Wall Street Weekahead: retailers' results may sway stocks

Wall Street Weekahead: retailers' results may sway stocks

US stock investors will brace for further signs of weakness in the US recovery next week as earnings from key retailers are expected. Industrial production, housing and inflation data will come under scrutiny as well, just as stocks wrapped up their worst
Published 16 Aug, 2010 12:00am
Turkey investors may tolerate fiscal reform delay

Turkey investors may tolerate fiscal reform delay

Delays to key reforms in Turkey may merely dent rather than destroy investors' enthusiasm for an economy whose higher growth and lower inflation prospects have taken it to the top of fund managers' shopping lists.
Published 16 Aug, 2010 12:00am
Turkey investors may tolerate fiscal reform delay

Turkey investors may tolerate fiscal reform delay

Delays to key reforms in Turkey may merely dent rather than destroy investors' enthusiasm for an economy whose higher growth and lower inflation prospects have taken it to the top of fund managers' shopping lists.
Published 16 Aug, 2010 12:00am
Crisis-tested emerging banks offer attractive option

Crisis-tested emerging banks offer attractive option

Emerging market banks, buoyed by robust domestic growth and stress-tested by their own crises a decade ago, could offer investors a viable alternative to Western banks facing headwinds.
Published 16 Aug, 2010 12:00am
Citi sees growth operations in mature Asia markets

Citi sees growth operations in mature Asia markets

Citigroup Inc's Asian consumer banking unit sees opportunities in mature markets such as Hong Kong, and aims to take business from local players who take their customers for granted, an executive said. Asia's largest credit card issuer aimed to have 50 br
Published 16 Aug, 2010 12:00am
InterContinental says financing tough in North America

InterContinental says financing tough in North America

InterContinental Hotels Chief Executive Andrew Cosslett says financing for new hotels in North America is tough but the world's largest hotelier still has the largest pipeline in the industry, especially in China.
Published 16 Aug, 2010 12:00am
AIG sells consumer credit affiliate

AIG sells consumer credit affiliate

Ailing US insurance giant AIG announced on August 11 the sale of 80 percent of its stake in consumer credit provider American General Finance to Fortress Investment Group, a hedge fund manager. No details were provided on the terms of the deal, which will
Published 16 Aug, 2010 12:00am
Profits up 20 percent at Commonwealth Bank

Profits up 20 percent at Commonwealth Bank

Australia's Commonwealth Bank on August 11 posted a 20 percent rise in its full year net profit, but warned it remained cautious about the coming year due to fragile business and consumer confidence.
Published 16 Aug, 2010 12:00am
Profits up 20 percent at Commonwealth Bank

Profits up 20 percent at Commonwealth Bank

Australia's Commonwealth Bank on August 11 posted a 20 percent rise in its full year net profit, but warned it remained cautious about the coming year due to fragile business and consumer confidence.
Published 16 Aug, 2010 12:00am
Travel group Thomas Cook issues profits warning

Travel group Thomas Cook issues profits warning

Travel firm Thomas Cook warned on August 11 that annual profits would be at the low end of market expectations due to the uncertain trading environment in Britain and the weaker euro. Thomas Cook sank into a loss in the third quarter of the group's financ
Published 16 Aug, 2010 12:00am
Travel group Thomas Cook issues profits warning

Travel group Thomas Cook issues profits warning

Travel firm Thomas Cook warned on August 11 that annual profits would be at the low end of market expectations due to the uncertain trading environment in Britain and the weaker euro. Thomas Cook sank into a loss in the third quarter of the group's financ
Published 16 Aug, 2010 12:00am
Airbus optimistic on Middle East aircraft orders

Airbus optimistic on Middle East aircraft orders

Airbus is on track to secure orders for over 50 aircraft in the Middle East and North Africa this year as the industry recovers from a dismal 2009, a senior executive at the European planemaker said. Business with airlines in the region has been picking u
Published 16 Aug, 2010 12:00am
LAN, TAM announce merger to create LatAm's biggest airline

LAN, TAM announce merger to create LatAm's biggest airline

Two of South America's biggest airlines, Chile's LAN and Brazil's TAM, on August 13 announced they planned to merge to create Latin America's largest carrier. The news sent shares in TAM soaring 30 percent on the Sao Paulo stock market. LAN shares leapt n
Published 16 Aug, 2010 12:00am
Google adds voice commands to Android smartphones

Google adds voice commands to Android smartphones

Google on August 12 rolled out an application that lets people use voice commands to have Android-based smartphones do tasks such as send email or fetch driving directions. The Voice Actions program will only work on handsets running on the latest Android
Published 16 Aug, 2010 12:00am
Way to re-activate toolbars

Way to re-activate toolbars

Missing a toolbar? While it's easy to accidentally turn toolbars off, it's not always easy to figure out how to get them back. Generally, though, in Windows applications, you can re-activate toolbars through the View menu of your application. If there's a
Published 16 Aug, 2010 12:00am
Most Americans do not favour fast Internet access: Pew

Most Americans do not favour fast Internet access: Pew

The majority of Americans do not favour making affordable high-speed Internet access a government priority, according to a study released by the Pew Internet & American Life Project on August 11.
Published 16 Aug, 2010 12:00am
Google Street View offers a glimpse at Internet era privacy

Google Street View offers a glimpse at Internet era privacy

Google's online map feature that provides pictures of real-world moments at spots around the world has become a flash point for people worried about the erosion of privacy in the Internet Age. Street View images at Google Maps sparked controversy from the
Published 16 Aug, 2010 12:00am
Website offers fashion advice

Website offers fashion advice

People who prefer not to rely on the sometimes biased opinions of their friends when seeking tips about a perfect outfit can turn to internet-based fashion advisers. At the websites www.fashism.com and www.gotryiton.com, for example, users can see an imag
Published 16 Aug, 2010 12:00am
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