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Sep 23, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2012-04-30
Zurich Insurance sees solid growth in LatAm business

Zurich Insurance sees solid growth in LatAm business

Switzerland's Zurich Insurance Group expects Latin America to account for almost half of its new emerging market life insurance business by the end of next year as solid economic growth and growing prosperity boost demand for insurance policies.
Published 30 Apr, 2012 12:00am
Turkish growth seen weaker, inflation above target

Turkish growth seen weaker, inflation above target

The Turkish economy, one of the world's best performers last year, will not see such heady gains in 2012 as the central bank's complicated policy mix aimed at taming inflation hampers growth, a Reuters poll showed on Thursday.
Published 30 Apr, 2012 12:00am
Trump flies into for Soviet Georgia for tower project

Trump flies into for Soviet Georgia for tower project

American property mogul Donald Trump flew into the former Soviet republic of Georgia on Saturday to expand his global real estate empire, lending his name to a glitzy tower on the Black Sea coast there. Unveiling a $250 million residential high-rise plann
Published 30 Apr, 2012 12:00am
Oil to rise on Iran, capacity concerns after second quarter hiccup

Oil to rise on Iran, capacity concerns after second quarter hiccup

Oil will rally through the year on Iranian tensions and as top producers pump at near full capacity though the second quarter looks set for a traditional seasonal weakening in prices, a Reuters poll showed on Thursday. Analysts remain bullish on the overa
Published 30 Apr, 2012 12:00am
Car financing helps Daimler beat forecasts

Car financing helps Daimler beat forecasts

German luxury carmaker Daimler reported a surprise increase in first-quarter operating profit, helped by its financial services business that offers loans and leases to car buyers and is benefiting from low interest rates. The margin at Daimler's Mercedes
Published 30 Apr, 2012 12:00am
No more Bank of England QE, chance of earlier rate hike rising

No more Bank of England QE, chance of earlier rate hike rising

The Bank of England is probably near the end of its asset purchase programme, with chances rising of a rate hike coming sooner as British inflation stubbornly sticks above target, a Reuters poll found on Wednesday.
Published 30 Apr, 2012 12:00am
Brazil has room to test lower interest rates

Brazil has room to test lower interest rates

Brazil has "a window of opportunity" to test lower interest rates this year, given the deflationary forces currently at play in the global economy, the president of the country's state development bank said on Monday. "There is no reason in Brazil not to
Published 30 Apr, 2012 12:00am
BoJ should eye longer-dated JGBs

BoJ should eye longer-dated JGBs

The Bank of Japan should signal its commitment to beating deflation by gradually extending the duration of government bonds it targets under its asset-buying scheme and eventually buying those with up to 10 years until maturity, a senior ruling party lawm
Published 30 Apr, 2012 12:00am
BoJ should eye longer-dated JGBs

BoJ should eye longer-dated JGBs

The Bank of Japan should signal its commitment to beating deflation by gradually extending the duration of government bonds it targets under its asset-buying scheme and eventually buying those with up to 10 years until maturity, a senior ruling party lawm
Published 30 Apr, 2012 12:00am
Colombia central bank to hold rate

Colombia central bank to hold rate

Colombia's central bank will hold the benchmark interest rate steady at its meeting this week, an indication that a year-long cycle of rate hikes has curbed inflation concerns, a Reuters poll showed on Tuesday. The central bank will hold the interest rate
Published 30 Apr, 2012 12:00am
Sarkozy's odds improve but remain against him

Sarkozy's odds improve but remain against him

Strong support for far-right leader Marine Le Pen in the first round of France's presidential election has lifted Nicolas Sarkozy's hopes of clinching a second term, but he will struggle to win over enough of her voters to keep him in power.
Published 30 Apr, 2012 12:00am
Smaller managed futures funds tempt investors

Smaller managed futures funds tempt investors

Smaller managed futures funds able to exploit niche commodity markets and the most volatile conditions are increasingly likely to win assets from investors disappointed with returns from the big trend-followers that dominate the industry. Managed futures,
Published 30 Apr, 2012 12:00am
Goldman's Jim O'Neill approached for BoE job

Goldman's Jim O'Neill approached for BoE job

Goldman Sachs' Jim O'Neill has been approached by Britain's finance ministry as a possible candidate to be the next governor of the Bank of England, the Sunday Times reported.
Published 30 Apr, 2012 12:00am
Munawar Zarif remembered

Munawar Zarif remembered

The 36th death anniversary of versatile actor and comedian Munawar Zarif was observed on Sunday. Munawar Zarif was a famous comedian and film actor. He was a versatile actor and comedian best known for his work in the Pakistani cinema of the seventies.
Published 30 Apr, 2012 12:00am
Evidence of Sharifs' corruption to be presented in Supreme Court: Malik

Evidence of Sharifs' corruption to be presented in Supreme Court: Malik

Federal Minister for Interior Rehman Malik on Sunday said that he had evidence related to the corruption of the Sharif brothers and it would be presented in the Supreme Court via the Attorney General of Pakistan. Talking to media, he said that he would al
Published 30 Apr, 2012 12:00am
'Omega-3 foods prevent eye disease in seniors'

'Omega-3 foods prevent eye disease in seniors'

Eating a diet rich in omega-3 fatty acids appears to protect seniors against the onset of a serious eye disease known as age-related macular degeneration (AMD). Researchers did a fresh analysis of a one-year dietary survey conducted in the early 1990s.
Published 30 Apr, 2012 12:00am
Militancy and flood-hit SMEs keenly seek ERKF grant

Militancy and flood-hit SMEs keenly seek ERKF grant

Application forms for seeking financial grant under Multi-Donor Trust Funded (MDTF) project for economic revitalisation of the crises affected entrepreneurs of Khyber Pakhtunkhwa and Fata had started flooding the regional office of Small and Medium Enterp
Published 30 Apr, 2012 12:00am
Global markets week ahead: safety dominates investor outlook

Global markets week ahead: safety dominates investor outlook

Caught in a vice between sluggish global growth and world-wide debt deleveraging, investors face another week of potentially gloomy economic news with no relief in sight from the growing concerns about euro zone debt.
Published 30 Apr, 2012 12:00am
China tells IPO bankers to 'like' Facebook: IFR

China tells IPO bankers to 'like' Facebook: IFR

China's internet censors have a dim view of Facebook, but that has not stopped it from being a model of sorts for the country's securities regulator, IFR reported on Saturday. At a regular training seminar last week, the China Securities and Regulatory Co
Published 30 Apr, 2012 12:00am
London market awaits major earnings

London market awaits major earnings

London investors next week pore over a raft of earnings updates from blue-chip British companies including oil giant BP as well as bailed-out lenders Lloyds Banking Group and Royal Bank of Scotland. The benchmark FTSE 100 index of leading shares finished
Published 30 Apr, 2012 12:00am
NBNK talking to Middle East sovereign wealth funds

NBNK talking to Middle East sovereign wealth funds

New banking venture NBNK has held talks with Middle Eastern sovereign wealth funds to bolster its bid for 632 Lloyds branches that are up for sale, a source with knowledge of the talks told Reuters on Sunday.
Published 30 Apr, 2012 12:00am
NBNK talking to Middle East sovereign wealth funds

NBNK talking to Middle East sovereign wealth funds

New banking venture NBNK has held talks with Middle Eastern sovereign wealth funds to bolster its bid for 632 Lloyds branches that are up for sale, a source with knowledge of the talks told Reuters on Sunday.
Published 30 Apr, 2012 12:00am
Dubai launches $1.25 billion two-part Islamic bond

Dubai launches $1.25 billion two-part Islamic bond

The Dubai government launched a $1.25 billion two-tranche Islamic bond on Wednesday, issue arrangers said, at the lower end of earlier indicated yield guidance, signalling healthy appetite for the emirate's latest debt market foray.
Published 30 Apr, 2012 12:00am
Dubai launches $1.25 billion two-part Islamic bond

Dubai launches $1.25 billion two-part Islamic bond

The Dubai government launched a $1.25 billion two-tranche Islamic bond on Wednesday, issue arrangers said, at the lower end of earlier indicated yield guidance, signalling healthy appetite for the emirate's latest debt market foray.
Published 30 Apr, 2012 12:00am
Edgen Group makes weak market debut

Edgen Group makes weak market debut

Edgen Group Inc, which distributes specialty products to the energy sector, had a disappointing market debut on Friday, as investors remained wary of volatility in the sector. The company's shares closed at $9.50 on the New York Stock Exchange. It had pri
Published 30 Apr, 2012 12:00am
Edgen Group makes weak market debut

Edgen Group makes weak market debut

Edgen Group Inc, which distributes specialty products to the energy sector, had a disappointing market debut on Friday, as investors remained wary of volatility in the sector. The company's shares closed at $9.50 on the New York Stock Exchange. It had pri
Published 30 Apr, 2012 12:00am
Nigerian naira seen firm in 2012

Nigerian naira seen firm in 2012

Nigeria's naira should hold steady in the short term buoyed by higher oil prices and a tight monetary policy, but gains could be hampered by rising inflation in the second half of the year, a Reuters poll showed on Monday.
Published 30 Apr, 2012 12:00am
Kenya shilling seen weaker as elections loom

Kenya shilling seen weaker as elections loom

Kenya's shilling is set to weaken as elections draw closer, with investors avoiding risk after violent uprisings killed more than 1,200 people in the last ballot five years ago, a Reuters poll showed on Tuesday.
Published 30 Apr, 2012 12:00am
Sri Lanka's bank may continue dollar supply for oil bills

Sri Lanka's bank may continue dollar supply for oil bills

Sri Lanka's central bank on Wednesday said it may defer plans to stop supplying dollars for oil-import bills and vowed to act against currency speculation after depreciation fears pulled the rupee to an all-time low for a second day. The rupee slid to a r
Published 30 Apr, 2012 12:00am
East Asia bond project to produce maiden offering

East Asia bond project to produce maiden offering

An ambitious East Asian project aimed at recycling the massive savings within the region will see the first bond offering in its nine-year history by August, the head of the credit guarantor told Reuters on Wednesday.
Published 30 Apr, 2012 12:00am
East Asia bond project to produce maiden offering

East Asia bond project to produce maiden offering

An ambitious East Asian project aimed at recycling the massive savings within the region will see the first bond offering in its nine-year history by August, the head of the credit guarantor told Reuters on Wednesday.
Published 30 Apr, 2012 12:00am
Japan traders seen on sidelines

Japan traders seen on sidelines

Japanese investors are likely to take to the sidelines in the coming holiday-shortened trading week and ahead of key US economic indicators, analysts said Friday. In the week to April 27, the benchmark Nikkei 225 index lost 0.42 percent, or 40.47 points,
Published 30 Apr, 2012 12:00am
Study finds warming speeding up rainfall cycle

Study finds warming speeding up rainfall cycle

An Australian study of ocean salinity over the past 50 years has revealed a "fingerprint" showing that climate change has accelerated the rainfall cycle, a researcher said April 27. The study published in the journal Science and conducted by Australian an
Published 30 Apr, 2012 12:00am
Eating berries may slow brain's decline

Eating berries may slow brain's decline

Women who eat plenty of blueberries and strawberries experience slower mental decline with age than women who consume fewer of the flavonoid-rich fruits, a US study said on April 26. Based on a survey of more than 16,000 women who filled out regular quest
Published 30 Apr, 2012 12:00am
Arctic Ocean could be source of greenhouse gas

Arctic Ocean could be source of greenhouse gas

The Arctic Ocean could be a significant contributor of methane, a powerful greenhouse gas, scientists reported. Researchers carried out five flights in 2009 and 2010 to measure atmospheric methane in latitudes as high as 82 degrees north.
Published 30 Apr, 2012 12:00am
Anti-cholesterol statins don't reduce melanoma risk

Anti-cholesterol statins don't reduce melanoma risk

Despite earlier indications that people taking cholesterol-lowering statins might have a reduced risk of developing melanoma, a study of thousands of women found that the popular drugs do nothing to prevent the deadly skin cancer.
Published 30 Apr, 2012 12:00am
Aspirin tied to lower lung cancer risk in women: study

Aspirin tied to lower lung cancer risk in women: study

Women who took aspirin at least a couple of times a week had a much lower risk of developing lung cancer, whether or not they ever smoked, according to a study of more than a thousand Asian women.
Published 30 Apr, 2012 12:00am
Organic farms yield less produce

Organic farms yield less produce

Organic farming may yield up to a third less of some crop types, according to a study proposing a hybrid with conventional agriculture as the best way to feed the world without destroying it. Organic farming seeks to limit the use of chemical pesticides a
Published 30 Apr, 2012 12:00am
Lava flows carved Mars valleys: study

Lava flows carved Mars valleys: study

Lava flows carved valleys on Mars, US scientists said on April 26 amid a long-running debate over whether water or volcanoes formed part of the red planet's landscape. The lava left behind telltale coils as seen on some parts of Earth, like on the Big Isl
Published 30 Apr, 2012 12:00am
Real sight La Liga title after 3-0 rout of Sevilla

Real sight La Liga title after 3-0 rout of Sevilla

Karim Benzema struck a brace in a 3-0 win over Sevilla on Sunday as Real Madrid edged closer to their first Spanish league title in four years. The win gave Real a 10-point lead on arch-rivals Barcelona and will be enough to secure the championship if Bar
Published 30 Apr, 2012 12:00am
Chelsea, Bayern eye overturning bans: Di Matteo

Chelsea, Bayern eye overturning bans: Di Matteo

Chelsea boss Roberto Di Matteo admitted on Saturday that he could join forces with Bayern Munich in an attempt to get six yellow cards overturned for the Champions League final. Ramires, Branislav Ivanovic and Raul Meireles will all miss the May 19 final
Published 30 Apr, 2012 12:00am
Korean Shon stuns Lee to bag title

Korean Shon stuns Lee to bag title

Unseeded South Korean Wan Ho Shon capped his superb run in the India Open badminton tournament with an upset win over top-seeded Malaysian Lee Chong Wei in the men's singles final on Sunday. Shon, who also qualified for the London Olympics, won 21-18, 14-
Published 30 Apr, 2012 12:00am
Motorcycling: Stoner hails 'greatest race' in Spanish MotoGP

Motorcycling: Stoner hails 'greatest race' in Spanish MotoGP

Australia's defending world champion Casey Stoner won the Spanish MotoGP here on Sunday for his first win in the race and said it was the greatest race he had ever ridden. The Honda rider beat home Spain's 2010 world champion Jorge Lorenzo on a Yamaha whi
Published 30 Apr, 2012 12:00am
Del Potro back on clay with Estoril title defence

Del Potro back on clay with Estoril title defence

Juan Martin del Potro will return to tennis after a month away by defending his Estoril Open title from Monday. The Argentine has not competed since the Davis Cup quarter-final win over Croatia at home where he won both of his singles rubbers.
Published 30 Apr, 2012 12:00am
Davies hopes for Muamba lift against Spurs

Davies hopes for Muamba lift against Spurs

Bolton captain Kevin Davies hopes Fabrice Muamba can boost his side's survival bid by attending Wednesday's home game against Tottenham. Muamba is making a miraculous recovery from the cardiac arrest he suffered in the abandoned FA Cup tie at Tottenham la
Published 30 Apr, 2012 12:00am
Four-day SUIT sports gala concludes

Four-day SUIT sports gala concludes

Federal Secretary, Inter-Provincial Co-ordination (IPC), Anis-ul-Hasnain Mosvi has said that private educational institutions are playing important role in the development of the country and nation. He was addressing the concluding ceremony of a four-day
Published 30 Apr, 2012 12:00am
Terry says sorry to fans over Barca red card

Terry says sorry to fans over Barca red card

Chelsea captain John Terry has apologised to the club's supporters for risking their Champions League dreams with a red card against Barcelona. Terry was dismissed for a needless foul on Barca forward Alexis Sanchez in the first half of Tuesday's semi-fin
Published 30 Apr, 2012 12:00am
Wenger hits out at boo-boys after Stoke draw

Wenger hits out at boo-boys after Stoke draw

Arsenal manager Arsene Wenger hit out at Stoke's boo-boys after Gunners midfielder Aaron Ramsey was targeted for abuse during his side's 1-1 draw. Ramsey was jeered throughout at the Britannia Stadium on Saturday, two years after sustaining a horrific dou
Published 30 Apr, 2012 12:00am
Torres treble helps Chelsea rout QPR

Torres treble helps Chelsea rout QPR

Fernando Torres scored his first Chelsea hat-trick as the Blues thrashed Queens Park Rangers 6-1 to strengthen their bid for automatic qualification for next season's Champions League. Torres scored twice in a first half that saw Chelsea 4-0 up in the 25t
Published 30 Apr, 2012 12:00am
Adkins savours sweet taste of success

Adkins savours sweet taste of success

Southampton manager Nigel Adkins admitted a weight had been lifted off his shoulders after his side finally clinched promotion to the Premier League. Adkins' men had been favourites to go up for much of the campaign, but looked in danger of blowing their
Published 30 Apr, 2012 12:00am
Nadal wins seventh Barcelona title

Nadal wins seventh Barcelona title

Rafael Nadal defeated Spanish compatriot David Ferrer 7-6 (7/1), 7-5 on Sunday to win a seventh Barcelona Open title. It was Nadal's 34th successive match victory on the Barcelona clay and his triumph on Sunday came a week after he secured an eighth Monte
Published 30 Apr, 2012 12:00am
Spurs back in fourth as Rovers eye drop

Spurs back in fourth as Rovers eye drop

Tottenham Hotspur returned to fourth place in the Premier League with a 2-0 win over Blackburn Rovers at White Hart Lane here on Sunday. Rafael van der Vaart struck in the 22nd minute before Kyle Walker's brilliant free-kick 15 minutes from time sealed Sp
Published 30 Apr, 2012 12:00am
Dalglish not surprised by stunning Suarez

Dalglish not surprised by stunning Suarez

Liverpool manager Kenny Dalglish believes the quality of Luis Suarez's first hat-trick for the club should have come as no surprise. The Uruguay international scored all three of his side's goals in a 3-0 Premier League victory at Norwich on Saturday.
Published 30 Apr, 2012 12:00am
Australian Prime Minister suspends embattled lawmaker from party

Australian Prime Minister suspends embattled lawmaker from party

Australian Prime Minister Julia Gillard on Sunday moved to distance herself from growing anger at a series of government scandals, suspending a lawmaker accused of misusing funds, a week after the parliament Speaker stood down over a sexual harassment law
Published 30 Apr, 2012 12:00am
Saleh to leave Yemen temporarily; militants free soldiers

Saleh to leave Yemen temporarily; militants free soldiers

Former president Ali Abdullah Saleh will leave Yemen temporarily after Gulf states leaned on him to get out of the way of his successor to ease tension complicating efforts to stabilise the country, a diplomatic source said on Sunday.
Published 30 Apr, 2012 12:00am
China reach in focus at US- Philippine security talks

China reach in focus at US- Philippine security talks

China is likely to be high on the agenda at top level US-Philippine security talks on Monday as Washington refocuses its foreign policy on Asia and Manila realises its limits in trying to solve territorial disputes with Beijing alone.
Published 30 Apr, 2012 12:00am
Chinese play cat and mouse with censors to discuss dissident escape

Chinese play cat and mouse with censors to discuss dissident escape

Chinese played cat and mouse with the censors on the popular Twitter-like microblog service Weibo on Sunday to express support for escaped blind dissident lawyer Chen Guangcheng, while China maintained its silence on what has happened to him.
Published 30 Apr, 2012 12:00am
South Sudan says to quit border zone, seeks end to clashes

South Sudan says to quit border zone, seeks end to clashes

South Sudan has told the United Nations it will pull all police out of a disputed region on its border with Sudan and is committed to halting all fighting with its northern neighbour, but Khartoum declared a state of emergency in some border areas.
Published 30 Apr, 2012 12:00am
Gunmen attack Christian worshippers in Nigeria's Kano

Gunmen attack Christian worshippers in Nigeria's Kano

Gunmen attacked a university theatre in the northern Nigerian city of Kano being used by Christians as a place of worship and set off explosives, an army spokesman and residents said on Sunday.
Published 30 Apr, 2012 12:00am
One killed, many hurt in grenade attack at Kenyan church

One killed, many hurt in grenade attack at Kenyan church

At least one person was killed and a dozen wounded in a grenade attack at a church in the Kenyan capital on Sunday, the latest in a series of attacks in the east African country since it sent troops into neighbouring Somalia. The blast was in a working cl
Published 30 Apr, 2012 12:00am
UN chief visits Myanmar to press for further reform

UN chief visits Myanmar to press for further reform

UN Secretary-General Ban Ki-moon made a landmark visit to a fast-changing Myanmar on Sunday to encourage its government to carry out more democratic reforms and shore-up peace deals with ethnic rebel groups.
Published 30 Apr, 2012 12:00am
Sarkozy says Socialists using Qadhafi as Distraction

Sarkozy says Socialists using Qadhafi as Distraction

French President Nicolas Sarkozy dismissed a report that deposed Libyan leader Muammar Qadhafi sought to fund his 2007 campaign as a ploy by Socialist opponents to distract from the public reappearance of disgraced IMF chief Dominique Strauss-Kahn.
Published 30 Apr, 2012 12:00am
French journalist missing after Colombia FARC battle

French journalist missing after Colombia FARC battle

A French journalist reporting alongside Colombian security forces tracking drug-funded rebels disappeared on Saturday after a gun battle with the Revolutionary Armed Forces of Colombia that killed three soldiers and a police official, the Defence Ministry
Published 30 Apr, 2012 12:00am
Qaeda-linked group frees 73 Yemeni soldiers

Qaeda-linked group frees 73 Yemeni soldiers

An al Qaeda-linked group on Sunday freed 73 Yemeni soldiers it captured during a major assault in the south of the country last month, residents said, after mediation by religious scholars and tribal elders. Residents of the southern town of Jaar, control
Published 30 Apr, 2012 12:00am
Former Libyan oil exec Ghanem dies in Austria

Former Libyan oil exec Ghanem dies in Austria

Libya's former top oil industry official, Shokri Ghanem, has died in Austria of an apparent heart attack, the foreign ministry in Vienna said on Sunday. Ghanem, 69, had been chairman of Libya's state-owned National Oil Corporation (NOC) before defecting l
Published 30 Apr, 2012 12:00am
GM, Isuzu to talk on capital tie-up: Nikkei

GM, Isuzu to talk on capital tie-up: Nikkei

General Motors Co will begin talks about taking an around 10 percent stake in Isuzu Motors Ltd, as the two carmakers look to jointly sell commercial vehicles in Asia and in Central and South America, the Nikkei business daily said on Sunday.
Published 30 Apr, 2012 12:00am
GM, Isuzu to talk on capital tie-up: Nikkei

GM, Isuzu to talk on capital tie-up: Nikkei

General Motors Co will begin talks about taking an around 10 percent stake in Isuzu Motors Ltd, as the two carmakers look to jointly sell commercial vehicles in Asia and in Central and South America, the Nikkei business daily said on Sunday.
Published 30 Apr, 2012 12:00am
Russia's Basic Element inks $1 billion China's Norinco deal

Russia's Basic Element inks $1 billion China's Norinco deal

Russian tycoon Oleg Deripaska's Basic Element said on Sunday it had agreed a $1 billion co-operation deal with China's state-owned North Industries Corporation (Norinco) that will include construction of a rolling mill in Russia for metal production.
Published 30 Apr, 2012 12:00am
Egypt expects tourism to rebound this year to pre-revolution levels

Egypt expects tourism to rebound this year to pre-revolution levels

Egypt's tourism minister expects the number of tourists to rebound this year to pre-revolution levels of 14.5 million after slumping in 2011 following an uprising that forced out President Hosni Mubarak and brought much of Egypt's economy to a halt.
Published 30 Apr, 2012 12:00am
Abu Dhabi's Sorouh first quarter net profit up 30 percent

Abu Dhabi's Sorouh first quarter net profit up 30 percent

Abu Dhabi's Sorouh Real Estate , which is in merger talks with larger rival Aldar Properties, posted a 30 percent rise in quarterly profits on Sunday, adding to a string of higher earnings from UAE property firms in recent days.
Published 30 Apr, 2012 12:00am
Abu Dhabi's Sorouh first quarter net profit up 30 percent

Abu Dhabi's Sorouh first quarter net profit up 30 percent

Abu Dhabi's Sorouh Real Estate , which is in merger talks with larger rival Aldar Properties, posted a 30 percent rise in quarterly profits on Sunday, adding to a string of higher earnings from UAE property firms in recent days.
Published 30 Apr, 2012 12:00am
Foxconn workers sing its praises, but profit disappoints

Foxconn workers sing its praises, but profit disappoints

Profit at Taiwanese contract maker Hon Hai Precision Industry's grew less than expected in the first quarter, but the main maker of Apple Inc gadgets, whose plants have come under intense scrutiny over working conditions, was in party mood on Saturday.
Published 30 Apr, 2012 12:00am
GSK bid undervalues Human Genome, investor says

GSK bid undervalues Human Genome, investor says

GlaxoSmith-Kline's $2.6 billion offer for Human Genome Sciences undervalues the biotech company, according to Taube Hodson Stonex, a leading investor in the US group. "The price that's been offered, although it is a big premium to where the shares were tr
Published 30 Apr, 2012 12:00am
GSK bid undervalues Human Genome, investor says

GSK bid undervalues Human Genome, investor says

GlaxoSmith-Kline's $2.6 billion offer for Human Genome Sciences undervalues the biotech company, according to Taube Hodson Stonex, a leading investor in the US group. "The price that's been offered, although it is a big premium to where the shares were tr
Published 30 Apr, 2012 12:00am
South Korea resurrects $5.3 billion Woori stake sale

South Korea resurrects $5.3 billion Woori stake sale

South Korea's top regulator said Sunday it would receive preliminary bids for a 6 trillion won ($5.28 billion) controlling stake in Woori Finance Holdings by July 27, after two previous attempts to privatise the group floundered over a lack of bidding int
Published 30 Apr, 2012 12:00am
Algeria postpones Djezzy appeal on $1.3 billion fine

Algeria postpones Djezzy appeal on $1.3 billion fine

An Algerian court on Sunday postponed an appeal hearing into a $1.25 billion fine imposed on Djezzy, the local mobile phone unit of Russian telecoms firm Vimpelcom, until May 6, a judicial source told Reuters. Djezzy chief executive Tamer El Mahdy, who ha
Published 30 Apr, 2012 12:00am
Chinese tastes impact global car designs

Chinese tastes impact global car designs

As more and more Chinese buy cars, automakers say consumer tastes in the Asian nation have a growing influence on vehicle design the world over. China emerged as the world's top car market in 2009, and though the sector stalled last year, with sales risin
Published 30 Apr, 2012 12:00am
Hollywood hopes rise as Blu-ray, digital offset DVD decline

Hollywood hopes rise as Blu-ray, digital offset DVD decline

Hollywood may be seeing a turnaround in a seven-year decline of home video sales, thanks to double-digit sales growth of Blu-ray discs and online movies and TV shows, an industry trade group is expected to announce on Sunday night.
Published 30 Apr, 2012 12:00am
AAOIFI in wide review of Islamic finance standards

AAOIFI in wide review of Islamic finance standards

Islamic finance may face its biggest shake-up in years as a top standard-setting body seeks to reform the way the industry does business, including the role of highly paid scholars in enforcing religious principles.
Published 30 Apr, 2012 12:00am
EU needs gas pipeline investment

EU needs gas pipeline investment

The European Union needs new gas pipelines linking eastern and southern countries with western hubs to ensure security of supply, but regulatory uncertainties hamper investment in them, an executive at French utility GDF Suez said.
Published 30 Apr, 2012 12:00am
China's Big Four banks hit by slowdown, costs

China's Big Four banks hit by slowdown, costs

China's Big Four banks' reported weaker-than-expected first-quarter earnings on Friday, with the sector facing growing pressure from a slowing economy and rising funding costs.
Published 30 Apr, 2012 12:00am
US retailers play catch-up in fashion speed race

US retailers play catch-up in fashion speed race

After years of losing customers to Europe-based retailers that give young shoppers fresh fashions more quickly, US clothes retailers are fighting back. To pick up speed, companies like Gap Inc, American Eagle Outfitters and Macy's Inc are placing smaller
Published 30 Apr, 2012 12:00am
Gazprom to drill Bangladesh gas wells

Gazprom to drill Bangladesh gas wells

Russia's Gazprom will drill 10 wells to produce gas in Bangladesh under deals signed on Thursday with three state energy companies. Bangladesh Oil, Gas and Mineral Corporation (Petrobangla), - which owns the three state companies, will bear the entire $19
Published 30 Apr, 2012 12:00am
Populist surge threatens eurozone consensus

Populist surge threatens eurozone consensus

A surge of support for Eurosceptic, anti-immigration populists in the euro zone threatens to upend the mainstream political consensus in favour of austerity and budget discipline.
Published 30 Apr, 2012 12:00am
Glencore profits from metals backlog in Dutch port

Glencore profits from metals backlog in Dutch port

London Metal Exchange rules on the amount of stock released each day are playing to the advantage of Glencore, which is moving thousands of tonnes of metal to warehouses in the Dutch port of Vlissingen, industry sources say.
Published 30 Apr, 2012 12:00am
Europe gets more time for nuclear stress tests

Europe gets more time for nuclear stress tests

European states are to get extra time to carry out further tests on nuclear plants, to ensure they can withstand natural and man-made disasters, Energy Commissioner Guenther Oettinger said, before any laws to improve nuclear safety are proposed.
Published 30 Apr, 2012 12:00am
China Eastern to buy 20 Boeing 777-300s

China Eastern to buy 20 Boeing 777-300s

China Eastern Airlines will buy 20 Boeing 777-300 extended-range aircraft, Boeing said Friday, announcing a deal worth nearly $6 billion at list prices. "This additional commitment from one of the largest airlines in the world is a testament to the benefi
Published 30 Apr, 2012 12:00am
Silver demand to rise 3-5 percent in 2012

Silver demand to rise 3-5 percent in 2012

Silver sales for industrial applications as well as for jewellery, coins, silverware and photography should climb 3 to 5 percent this year as end-users replenish inventories that ran low late last year due to an economic slowdown, said the head of Thomson
Published 30 Apr, 2012 12:00am
Russia warns EU Iran oil embargo will be costly

Russia warns EU Iran oil embargo will be costly

Russia pressed its case against new sanctions over Iran's nuclear programme on Friday, saying an European Union ban on purchasing Iranian oil would end up hurting the bloc's member countries. "The European Union is rejecting purchases of Iranian oil, even
Published 30 Apr, 2012 12:00am
Ever-selective DFA sees growth in Asia, US 401(k)

Ever-selective DFA sees growth in Asia, US 401(k)

Dimensional Fund Advisors is notorious for not marketing to financial advisers, instead requiring advisers to take the initiative and do some homework to even be considered as clients. But that does not mean the $240 billion mutual fund company is not foc
Published 30 Apr, 2012 12:00am
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