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Print - 2012-12-26
Iran says defeats cyber attack on industrial sites

Iran says defeats cyber attack on industrial sites

An Internet virus attacked computers at industrial sites in southern Iran, in an apparent extension of a covert cyber war that initially targeted the country's nuclear facilities, an Iranian official said. Iran, the world's No 5 oil exporter, has tightene
Published 26 Dec, 2012 12:00am
World Bank private arm to issue bonds in African markets

World Bank private arm to issue bonds in African markets

The International Finance Corp, the World Bank's private sector arm, plans to issue local currency bonds in 10 African markets from next year to build capital in one of the world's fastest growing regions. Jingdong Hua, vice president and treasurer at IFC
Published 26 Dec, 2012 12:00am
World Bank private arm to issue bonds in African markets

World Bank private arm to issue bonds in African markets

The International Finance Corp, the World Bank's private sector arm, plans to issue local currency bonds in 10 African markets from next year to build capital in one of the world's fastest growing regions. Jingdong Hua, vice president and treasurer at IFC
Published 26 Dec, 2012 12:00am
Nikkei rises 1.4 percent in thin trade

Nikkei rises 1.4 percent in thin trade

Japan's Nikkei share average rose 1.4 percent on Tuesday as exporters gained on a weaker yen, but volume was thin due to a lack of participants during the Christmas holiday. The Nikkei gained 140.06 points at 10,080.12, nearing a nine-month intraday high
Published 26 Dec, 2012 12:00am
World stock markets to extend gains into 2013

World stock markets to extend gains into 2013

A tentatively improving global economy and plentiful central bank cash should foster gains for the world's major stock markets next year, a Reuters poll of more than 250 analysts showed. World stocks have risen this year after a disastrous showing in 2011
Published 26 Dec, 2012 12:00am
Lenovo Group's parent plans China IPO as early as 2014

Lenovo Group's parent plans China IPO as early as 2014

Legend Holdings, the parent company of personal computer maker Lenovo Group, plans to list in China's A-share market sometime between 2014 and 2016, China Business News quoted the firm's chairman as saying. Legend Holdings, which also owns private equity
Published 26 Dec, 2012 12:00am
China's key money rate jumps on year-end supply concerns

China's key money rate jumps on year-end supply concerns

China's key seven-day money rates jumped on Tuesday as financial institutions were reluctant to lend on concerns that supply could become tight around the year-end. Dealers said there was now ample liquidity in the market after the central bank injected f
Published 26 Dec, 2012 12:00am
Customs assures clearing agents of resolving issues

Customs assures clearing agents of resolving issues

Chief Collector Customs (CCC) Lutf Ullah Virk assured the customs clearing agents to resolve the issues faced by the importers on merit. He gave this assurance at a reception arranged by the Lahore Customs Clearing Agents Association (LCCAA) in his honour
Published 26 Dec, 2012 12:00am
Police ensured fool-proof security of churches

Police ensured fool-proof security of churches

About one thousand policemen in the city performed special duty for foolproof security of churches and other public points in the city on the eve of Christmas day. The police officials, equipped with metal detectors, were deputed specially at the Churches
Published 26 Dec, 2012 12:00am
Position holders visit PU

Position holders visit PU

The position holders of intermediate examinations from Balochistan, Gilgit-Baltistan, Sindh, Khyber-Pakhtunkhwa, Azad Kashmir and federal board, who have been invited by the Punjab government, on Tuesday paid a visit to Punjab University Main Library and
Published 26 Dec, 2012 12:00am
President confers Nishan-e-Imtiaz on Sindh Governor

President confers Nishan-e-Imtiaz on Sindh Governor

President Asif Ali Zardari on Tuesday conferred 'Nishan-e-Imtiaz' on Sindh Governor Dr Ishratul Ebad Khan in recognition of his meritorious services in the field of public service. A special ceremony in this regard was held at the Governor House here. Fed
Published 26 Dec, 2012 12:00am
PIA begins Quetta-Kandhar flights

PIA begins Quetta-Kandhar flights

Pakistan International Airlines (PIA) has started flights on Quetta-Kandahar route and first plane with 198 passengers on board flew on Tuesday. The inauguration ceremony was held at Quetta International Airport. Managing Director (MD) PIA, Captain Muhamm
Published 26 Dec, 2012 12:00am
Textile industry loses $33 million a day due to energy crisis

Textile industry loses $33 million a day due to energy crisis

Being the prime victim of energy crisis, the textile industry in Punjab is losing the production capacity of $33 million a day. It may be noted that over 80 percent textile mills are located in Punjab.Especially those solely dependent on power supply from
Published 26 Dec, 2012 12:00am
New inductions into PPP soon: Wattoo

New inductions into PPP soon: Wattoo

President PPP Punjab Manzoor Wattoo has said that important political figures would join the PPP in Punjab. He was addressing a press conference at the Governor House along with three politicians from Bahawalpur who have joined the PPP after parting ways
Published 26 Dec, 2012 12:00am
Imran condemns targeted killings in Karachi

Imran condemns targeted killings in Karachi

Pakistan Tehreek-e-Insaf Chairman Imran Khan on Tuesday strongly condemned target killing in Karachi in which many were killed and injured while vehicles were torched. While offering condolences to the family members of the deceased, Imran expressed conce
Published 26 Dec, 2012 12:00am
Dacoits kill two shopkeepers

Dacoits kill two shopkeepers

Two persons were killed and two others injured by dacoits on resistance during a dacoity in Kot Radhakishan on Tuesday. According to police sources, the unidentified armed outlaws looted cash and mobiles from a shop on Railway Road. On resistance by the s
Published 26 Dec, 2012 12:00am
Dense fog claims seven lives in Punjab

Dense fog claims seven lives in Punjab

At least seven persons including two teenage girls were killed and 20 others injured in separate road accidents due to dense fog in different areas of southern Punjab on Tuesday. According to police, the first accident took place at Multan Road in tehsil
Published 26 Dec, 2012 12:00am
ANP-led KP government recounts big achievements in education sector

ANP-led KP government recounts big achievements in education sector

The ANP led provincial government in Khyber Pakhtunkhwa has initiated unprecedented gigantic Rs 494,857 million ten-year, (Education sector plan) in the province. According to a document on the achievements of the present provincial government in educatio
Published 26 Dec, 2012 12:00am
Iraqi oil's inclusion risks volatile Dubai benchmark

Iraqi oil's inclusion risks volatile Dubai benchmark

A move to include Iraqi crude in the benchmark price for nearly $500 billion of Middle East oil sold to Asia annually would make for a more robustly traded but also a potentially more volatile marker. Most of the crude exports from the world's top produce
Published 26 Dec, 2012 12:00am
European vegetable oils firm ahead of Christmas

European vegetable oils firm ahead of Christmas

Palm oil on the European vegetable oils market firmed on Monday, supported by higher Malaysian futures, amid very thin activity as many participants took off the day before Christmas or worked a half day. Markets will be closed for Christmas on Tuesday, D
Published 26 Dec, 2012 12:00am
Tokyo rubber futures rise

Tokyo rubber futures rise

Benchmark Tokyo rubber futures rose 1.6 percent on Tuesday to hit a three-month high on a weaker yen, with some participants forecasting more gains as the year ends.
Published 26 Dec, 2012 12:00am
Shanghai copper edges up

Shanghai copper edges up

Shanghai copper edged up on Tuesday, tracking gains in China's stock market led by property shares, while worries about a potential US fiscal calamity and uncertainty over China's copper demand outlook capped gains. The Chinese stock market jumped to its
Published 26 Dec, 2012 12:00am
Vietnam coffee-offers on par with London, buying weak

Vietnam coffee-offers on par with London, buying weak

Vietnamese coffee exporters kept their quotations on par with London futures prices on Tuesday, while buyers were slow to make purchases quiet during the holidays, traders said on Tuesday. The 2012/2013 crop harvest has almost ended in Vietnam's Central H
Published 26 Dec, 2012 12:00am
Canadian canola futures up

Canadian canola futures up

ICE Canada canola futures edged higher on Monday, recovering modestly from the previous week's biggest weekly loss in over a month. Trading volumes were light early. ICE Futures Canada will be closed on Tuesday and Wednesday for the Christmas and Boxing D
Published 26 Dec, 2012 12:00am
Kobe Steel to cancel aluminium plant in China

Kobe Steel to cancel aluminium plant in China

Japan's Kobe Steel will cancel a plan to build an aluminium products plant in China amid uncertainties over sales outlook to its major customers, such as Japanese automakers, after a territorial row between Beijing and Tokyo, the Nikkei business daily sai
Published 26 Dec, 2012 12:00am
Vietnam sells 300,000 tonnes of rice to Haiti

Vietnam sells 300,000 tonnes of rice to Haiti

Vietnam has secured a contract to export 300,000 tonnes of rice to Haiti in 2013 to help meet demand from the Caribbean island that has been hit by a string of natural disasters this year, a state-run newspaper reported on Monday. The first volume of 20,0
Published 26 Dec, 2012 12:00am
China's corn imports seen falling 60 percent on near-record prices

China's corn imports seen falling 60 percent on near-record prices

China's corn imports are likely to tumble by 60 percent in the year to September 2013 as near-record global prices, and a slowdown in consumption, dull the appetite of the world's second largest corn consumer, a Reuters poll showed. A decline in purchases
Published 26 Dec, 2012 12:00am
Barrick sees gold price at $2,000 in 2013

Barrick sees gold price at $2,000 in 2013

Gold prices may hit $2,000 an ounce in 2013 as costs and barriers to production restrict supply, while demand from central banks and Chinese consumers keeps climbing, the world's biggest gold producer said. Barrick Gold Chief Executive Jamie Sokalsky said
Published 26 Dec, 2012 12:00am
World Bank: Thailand set to lose billions due to rice price scheme

World Bank: Thailand set to lose billions due to rice price scheme

Thailand is set to lose up to 150 billion baht (4.8 billion dollars) per harvest on the government's scheme of buying rice at inflated prices, the World Bank said. While the international development lender predicted the Thai economy would grow a healthy
Published 26 Dec, 2012 12:00am
Russian farmers need 1.5 million tonnes of feed grain: AgMin

Russian farmers need 1.5 million tonnes of feed grain: AgMin

Russian farmers would have to buy about 1.5 million tonnes of feed grain to cover the deficit caused by drought this year, the Agriculture ministry said on Tuesday. All regions of the country, excluding the Central region, see a deficit of feed grain at t
Published 26 Dec, 2012 12:00am
Russian wheat prices to hit new highs next year

Russian wheat prices to hit new highs next year

Russian wheat prices, finishing this year with a more than 75 percent gain, are expected to hit new highs next year thanks to tight supply and worsening prospects for the 2013 winter crops. "Farmers are not in a hurry to sell their grain. The main factor
Published 26 Dec, 2012 12:00am
Still in recessionary phase

Still in recessionary phase

The quarterly "Development Finance Review" released by the State Bank on 20th December, 2012 confirms once again that the country's economy "is still in the phase of recession with challenges like energy crisis, decline in investment, and poor law and ord
Published 26 Dec, 2012 12:00am
New governor for Punjab

New governor for Punjab

Positioning itself for the upcoming elections, the PPP has replaced Punjab Governor Sardar Latif Khosa with Makhdoom Ahmad Mehmood, provincial president of Muslim League (F) and a veteran politician from an influential family in South Punjab's Rahimyar Kh
Published 26 Dec, 2012 12:00am
The economy

The economy

If one were to evaluate the performance of the PPP-led government on the economic front, one would be amazed at the achievements of the present dispensation which, one believes, no other political party in power could have been able to achieve had it been
Published 26 Dec, 2012 12:00am
Ethnicity and ICC cases heat up Kenya presidential race

Ethnicity and ICC cases heat up Kenya presidential race

Alliances forged by Kenya's main presidential contenders for elections in March are lining up a repeat of a largely ethnic-based contest for political power which exploded into bloodshed in the 2007 vote. Prime Minister Raila Odinga and Uhuru Kenyatta, so
Published 26 Dec, 2012 12:00am
Confessed serial killer hid in plain sight, then broke own rules

Confessed serial killer hid in plain sight, then broke own rules

A confessed serial killer from Alaska who hid in plain sight and whose crimes went undetected for more than a decade, was ultimately caught after he gave in to his compulsions and struck close to home. Israel Keyes, in jail since March for the kidnapping
Published 26 Dec, 2012 12:00am
'Green energy' - I

'Green energy' - I

Green Energy is energy that can be extracted, generated, and/or consumed without any significant negative impact on the environment. The planet has a natural capability to recover which means pollution that does not go beyond that capability can still be
Published 26 Dec, 2012 12:00am
UN approves new debate on arms treaty opposed by US gun lobby

UN approves new debate on arms treaty opposed by US gun lobby

The UN General Assembly voted overwhelmingly on Monday to restart negotiations on a draft international treaty to regulate the $70 billion global trade in conventional arms, a pact the powerful US National Rifle Association has been lobbying hard against.
Published 26 Dec, 2012 12:00am
Character actor, World War Two hero Charles Durning dies at 89

Character actor, World War Two hero Charles Durning dies at 89

Charles Durning, a World War Two hero who became one of Hollywood's top character actors in films like "The Sting," "Tootsie" and "The Best Little Whorehouse in Texas," has died, a New York City funeral home said on Tuesday. He was 89. Durning, who was no
Published 26 Dec, 2012 12:00am
Nigeria gunmen kill six at Christmas church service

Nigeria gunmen kill six at Christmas church service

Gunmen attacked a church in volatile northern Nigeria during a Christmas Eve service, killing six people including the pastor, before setting the building ablaze, residents and police said Tuesday, as the pope deplored "savage acts of terrorism" against C
Published 26 Dec, 2012 12:00am
Russian ruling party official shot dead in Caucasus

Russian ruling party official shot dead in Caucasus

Two gunmen shot dead a ruling party official on Tuesday in Russia's North Caucasus, where the Kremlin is fighting to subdue an Islamist insurgency, investigators said. Unknown assailants burst into Boris Zherukov's office in Nalchik, capital of the provin
Published 26 Dec, 2012 12:00am
Up to 27 feared dead in Kazakh plane crash

Up to 27 feared dead in Kazakh plane crash

A military aircraft carrying 27 people including top members of the Kazakhstan border guard service crashed Tuesday in the south of the country with all those on board feared dead, officials said. The KNB security service said the An-72 military transport
Published 26 Dec, 2012 12:00am
China may require real name registration for internet access

China may require real name registration for internet access

China may require internet users to register with their real names when signing up to network providers, state media said on Tuesday, extending a policy already in force with microblogs in a bid to curb what officials call rumours and vulgarity. A law bei
Published 26 Dec, 2012 12:00am
17 killed as Yemen army, tribesmen clash: tribal sources

17 killed as Yemen army, tribesmen clash: tribal sources

Yemen's army Tuesday launched an offensive against tribesmen suspected of repeatedly sabotaging an oil pipeline in east Yemen, sparking clashes which left 17 people dead, tribal sources said. The dead included 10 tribesmen and seven soldiers, said the sou
Published 26 Dec, 2012 12:00am
Eleven children die after school van falls into pond in China

Eleven children die after school van falls into pond in China

Eleven children died after a minivan carrying them to their kindergarten plunged into a pond in the eastern Chinese province of Jiangxi, state media said on Tuesday. The van was carrying 15 children and a teacher through a rural area of Jiangxi's Guixi ci
Published 26 Dec, 2012 12:00am
Japan's opposition picks former trade minister as new leader

Japan's opposition picks former trade minister as new leader

Japanese opposition party the Democratic Party of Japan (DPJ) chose former Economics Minister Banri Kaieda to replace the outgoing Prime Minister Yoshihiko Noda as its new leader on Tuesday, after a crushing lower house defeat earlier this month. Kaieda,
Published 26 Dec, 2012 12:00am
Eight dead, thousands homeless in Philippine fires

Eight dead, thousands homeless in Philippine fires

Eight people were killed and thousands left homeless as two fires struck the Philippine capital on Christmas Day, with one of the blazes sparking a riot in a slum, officials said. Seven charred bodies, all believed to be from one household, were recovered
Published 26 Dec, 2012 12:00am
Iran pays Russian women to cover up in nuclear plant: MP

Iran pays Russian women to cover up in nuclear plant: MP

Iran is paying Russian women working as technicians at its sole nuclear power plant to adhere to the Islamic dress code, an Iranian lawmaker told the ISNA news agency on Tuesday. Women in Iran, regardless of their nationality or religion, are required to
Published 26 Dec, 2012 12:00am
Japan's iconic A-bomb comic strip author dies

Japan's iconic A-bomb comic strip author dies

Keiji Nakazawa, a Hiroshima atomic bomb survivor whose iconic comic strip about the incident was read by millions of school children in post-war Japan, has died, associates said Tuesday. Nakazawa, who had been ill with lung cancer, passed away last week a
Published 26 Dec, 2012 12:00am
US lawmakers play waiting game with 'fiscal cliff' deadline in sight

US lawmakers play waiting game with 'fiscal cliff' deadline in sight

With only a week left before a deadline for the United States to go over a "fiscal cliff," lawmakers played a waiting game on Monday in the hope that someone will produce a plan to avoid harsh budget cuts and higher taxes for most Americans from New Year'
Published 26 Dec, 2012 12:00am
The Weather

The Weather

The weather report on Tuesday (December 25, 2012) and the forecast for Wednesday (December 26, 2012).

Published 26 Dec, 2012 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 26 Dec, 2012 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 26 Dec, 2012 12:00am
Markets closed

Markets closed

Financial markets in Australia and New Zealand will remain closed following two days for Christmas and Boxing Day and trading resumes on Thursday. Indian markets and stock market in Seoul will also be closed for Christmas on Tuesday. There will be no emer
Published 26 Dec, 2012 12:00am
Dubai firm Al Habtoor postpones flotation

Dubai firm Al Habtoor postpones flotation

Al Habtoor Group, one of Dubai's leading family-owned firms, has postponed plans to raise as much as $1.6 billion in a move blamed by analysts on unrealistic price expectations for its stock. The company, whose operations span the hospitality, constructio
Published 26 Dec, 2012 12:00am
Durrani opens 132 KV grid station

Durrani opens 132 KV grid station

Sindh Minister for Local Government Agha Siraj Durrani on Tuesday inaugurated newly constructed 132 KV Grid Station at Garhiyasin. The project was constructed by Sukkur Electric Power Company (SEPCO- WAPDA) at the estimated cost of Rs 340.00 million with
Published 26 Dec, 2012 12:00am
PPP workers leave for Garhi Khuda Bukhsh

PPP workers leave for Garhi Khuda Bukhsh

Dozens of Pakistan People's Party (PPP) workers' carvans left for Garhi Khuda Bukhsh to attend the death anniversary of Shaheed Mohtarma Benazir Bhutto here on Tuesday. The main caravan led by General Secretary Pakistan People's Party South Punjab MPA Aam
Published 26 Dec, 2012 12:00am
Prime Minister felicitates cricket team

Prime Minister felicitates cricket team

Prime Minister Raja Pervez Ashraf congratulated Pakistan cricket team over its win against India in T-20 Match in Bangalore. The Prime Minister praised the performance of the team and captain's like innings of Muhammad Hafeez. The Prime Minister expressed
Published 26 Dec, 2012 12:00am
Seminar in connection with Quaid's birth anniversary held

Seminar in connection with Quaid's birth anniversary held

A special seminar was held under the banner of Faisalabad Citizen Forum in connection with the Quaid Day. Social Scientist and worker of Tehreek-e-Pakistan Movement Chaudhry Muhammad Saleem was the chief guest on the occasion. Speaking to the audience of
Published 26 Dec, 2012 12:00am
GCU announcement

GCU announcement

The Government College University Faisalabad has announced winter vacations only for students till December 30. However, teaching and non-teaching staff has been asked to ensure their presence in campus.
Published 26 Dec, 2012 12:00am
Police van turns turtle; three killed

Police van turns turtle; three killed

Three persons were killed while four others sustained injuries when a police van turned turtle in the limits of Boat Basin police station. According to police, a speedy police van carried six civilians and a cop overturned at Shahra-e-Iran, leaving all th
Published 26 Dec, 2012 12:00am
Sindh Youth Policy envisages youths' empowerment

Sindh Youth Policy envisages youths' empowerment

Sindh Youth Policy seeks to empower the youths of the province economically, social, and politically, besides proposing effective institutional mechanism and an elaborate action plan divided into short, mid and long term strategies with targets fixed and
Published 26 Dec, 2012 12:00am
Incentives for meat processing industry demanded

Incentives for meat processing industry demanded

Lahore Chamber of Commerce and Industry's Standing Committee on Halal Meat's Convener Nasib Ahmad Saifi urged the government to exempt the meat processing industry from electricity load shedding to help it play its role in making Pakistan an outstanding n
Published 26 Dec, 2012 12:00am
Punjab Governor vows to promote democracy

Punjab Governor vows to promote democracy

Punjab Governor Makhdoom Syed Ahmad Mehmood on Tuesday said that he would try his level best to promote democracy and run other affairs amicably in the province. Talking to media persons after taking oath at Governor's House on Tuesday, he urged the provi
Published 26 Dec, 2012 12:00am
Three FC men killed in Balochistan action

Three FC men killed in Balochistan action

Three FC men were killed in separate incidents in Balochistan, officials said on Tuesday. A spokesperson for FC said that two FC men had been killed after a convoy was ambushed the other day in Mehi village while it was on its way to Mashkay from Khuzdar,
Published 26 Dec, 2012 12:00am
Shahbaz urges youth to play active role in progress of country

Shahbaz urges youth to play active role in progress of country

Punjab Chief Minister Shahbaz Sharif has said that youth will have to come forward and play their active role for resolution of problems of the country as they are future of Pakistan. He said that the key of development and prosperity of the country is wi
Published 26 Dec, 2012 12:00am
Polls to be held on time: Malik

Polls to be held on time: Malik

The general elections in the country will be held on schedule, Interior Minister Rehman Malik said on Tuesday. Talking to media persons during a visit to the mausoleum of Quaid-e-Azam Muhammad Ali Jinnah, Malik said that the country was facing carious cha
Published 26 Dec, 2012 12:00am
Death of father of Anis Qaimkhani: Altaf Hussain offers condolences

Death of father of Anis Qaimkhani: Altaf Hussain offers condolences

Chief of Muttahida Qaumi Movement (MQM) Altaf Hussain telephoned Anis Qaimkhani and offered condolences on the death of his father, Hidayat Ali Khan. A press release issued by the party quoted Altaf Hussain as saying that sacrifices rendered by late Hiday
Published 26 Dec, 2012 12:00am
Hitachi CEO still in talks on Lithuania nuclear project

Hitachi CEO still in talks on Lithuania nuclear project

Japan's Hitachi Ltd remains in talks with Lithuania over its plans to build a nuclear plant after the European country's new centre-left government said it could shelve nuclear projects, the company's top executive said on Tuesday. Hitachi, a century-old
Published 26 Dec, 2012 12:00am
Japan's SMFG targets Asia non-banking retail market

Japan's SMFG targets Asia non-banking retail market

Sumitomo Mitsui Financial Group Inc (SMFG) plans to speed expansion in Asia via its non-banking units like consumer finance and credit, hoping to lure the region's retail clients, the head of Japan's third-largest lender by assets said.
Published 26 Dec, 2012 12:00am
Japan's SMFG targets Asia non-banking retail market

Japan's SMFG targets Asia non-banking retail market

Sumitomo Mitsui Financial Group Inc (SMFG) plans to speed expansion in Asia via its non-banking units like consumer finance and credit, hoping to lure the region's retail clients, the head of Japan's third-largest lender by assets said.
Published 26 Dec, 2012 12:00am
Turkish central bank adds bank leveraging ratio to policy tool kit

Turkish central bank adds bank leveraging ratio to policy tool kit

Turkey's central bank will add a required reserve ratio (RRR) based on banks' leverage ratios to its policy tool kit in early 2014 to support financial stability, officials said in an end of year news conference on Tuesday. Laying out its approach on poli
Published 26 Dec, 2012 12:00am
Yen hits 20-month low against dollar

Yen hits 20-month low against dollar

The yen hit a 20-month low against the dollar on Tuesday as Japan's incoming prime minister stepped up pressure on the Bank of Japan (BOJ) to easy monetary policy, while the dollar was buoyed by uncertainty about US budget talks. The Japanese currency sti
Published 26 Dec, 2012 12:00am
Poland's BGK ready to quell any market turmoil

Poland's BGK ready to quell any market turmoil

State-owned lender BGK may step back into Polish financial markets to prop up the value of the zloty or government bonds if global turmoil encourages exaggerated moves in prices, its chief executive said. BGK has become a significant player in the past ye
Published 26 Dec, 2012 12:00am
Poland's BGK ready to quell any market turmoil

Poland's BGK ready to quell any market turmoil

State-owned lender BGK may step back into Polish financial markets to prop up the value of the zloty or government bonds if global turmoil encourages exaggerated moves in prices, its chief executive said. BGK has become a significant player in the past ye
Published 26 Dec, 2012 12:00am
Mexican peso seen making little headway into 2013

Mexican peso seen making little headway into 2013

The Mexican peso's gains are expected to be limited in the coming year, a Reuters poll showed on Thursday, due to concerns about high asset prices and a weak global economy, but the chance of a ratings upgrade could spur value.
Published 26 Dec, 2012 12:00am
Private equity group eyes Abu Dhabi healthcare IPO in 2013

Private equity group eyes Abu Dhabi healthcare IPO in 2013

The private equity consortium which owns half of Abu Dhabi healthcare provider Al Noor Medical is reviving plans to sell its stake through a stock market listing in 2013, four sources aware of the matter said. The group, including Dubai-based Ithmar Capit
Published 26 Dec, 2012 12:00am
Private equity group eyes Abu Dhabi healthcare IPO in 2013

Private equity group eyes Abu Dhabi healthcare IPO in 2013

The private equity consortium which owns half of Abu Dhabi healthcare provider Al Noor Medical is reviving plans to sell its stake through a stock market listing in 2013, four sources aware of the matter said. The group, including Dubai-based Ithmar Capit
Published 26 Dec, 2012 12:00am
Yuan ends flat versus dollar

Yuan ends flat versus dollar

China's yuan closed little changed against the dollar on Tuesday, with deals mostly limited to urgent business between banks and their clients ahead of the year-end, traders said. The yuan closed at 6.2339 per dollar, down four pips from Monday's close of
Published 26 Dec, 2012 12:00am
Without EU, Iceland central bank favours managed crown float

Without EU, Iceland central bank favours managed crown float

Iceland should keep the crown currency in a tightly managed float if it stays outside the European Union and does not adopt the euro, its central bank governor said, the first time he has sketched out such an idea. Mar Gudmundsson also told Reuters the ce
Published 26 Dec, 2012 12:00am
Blocked foreign take-over adds to Canadian dollar's struggles

Blocked foreign take-over adds to Canadian dollar's struggles

Canada's dollar will feel longer-term pain from the government's shock decision to block a Malaysian bid to take over Progress Energy Resources Corp, which suggests the country may be less receptive to foreign capital in the future.
Published 26 Dec, 2012 12:00am
Czech central bank hawk almost ready to give in on FX moves

Czech central bank hawk almost ready to give in on FX moves

The Czech central bank's most ardent opponent of interest rate cuts signalled she could agree with foreign exchange interventions to weaken the crown and ease policy further, under certain conditions. In an interview with Reuters, Eva Zamrazilova said she
Published 26 Dec, 2012 12:00am
Brazil minister vows to keep currency competitive

Brazil minister vows to keep currency competitive

Brazil will continue to take steps to avoid excessive appreciation in the country's real currency following the latest monetary stimulus by the US Federal Reserve, Finance Minister Guido Mantega said. Speaking to businessmen and economists at a conference
Published 26 Dec, 2012 12:00am
Sudan pound hits record low, wage pressure grows

Sudan pound hits record low, wage pressure grows

Black market rates for the Sudanese pound hit a record low against the dollar on the black market on Tuesday as importers struggled to get hard currency, likely adding to pressure on the government to raise state salaries.
Published 26 Dec, 2012 12:00am
Sony says China business has recovered, foresees growth

Sony says China business has recovered, foresees growth

Sony Corp's business in China has "more or less" returned to levels seen before recent protests against Japan's actions over a group of disputed islands, the Japanese company's China chief, Nobuki Kurita, told reporters on Tuesday. Calls for boycotts of J
Published 26 Dec, 2012 12:00am
China says to review on-grid power tariffs annually

China says to review on-grid power tariffs annually

China will review on-grid power tariffs annually and adjust them if thermal coal prices fluctuate by more than 5 percent a year, the government said on Tuesday, marking a small step towards broader market-oriented energy pricing reforms. China's power tar
Published 26 Dec, 2012 12:00am
Jaguar Land Rover's China unit to recall cars over safety worries

Jaguar Land Rover's China unit to recall cars over safety worries

Jaguar Land Rover's Chinese subsidiary will recall 337 cars because of substandard fixings in their brakes and steering boxes, China's national product quality watchdog said on Tuesday. The General Administration of Quality Supervision, Inspection and Qua
Published 26 Dec, 2012 12:00am
Japan punishes JX Nippon Oil for safety records failure

Japan punishes JX Nippon Oil for safety records failure

Japan's trade ministry on Tuesday imposed administrative sanctions on refiner JX Nippon Oil & Energy Corp after it admitted to failing to keep inspection records properly at its Mizushima-B refinery. The Ministry of Economy, Trade and Industry said in a s
Published 26 Dec, 2012 12:00am
New Jersey pension fund sues NYSE Euronext on ICE deal

New Jersey pension fund sues NYSE Euronext on ICE deal

A pension fund that holds shares of NYSE Euronext has sued the exchange operator over its proposed $8.2 billion sale to IntercontinentalExchange Inc, saying the deal undervalues the company's stock. The New Jersey Carpenters Pension Fund late on Friday fi
Published 26 Dec, 2012 12:00am
Turkish central bank adds bank leveraging ratio to policy tool kit

Turkish central bank adds bank leveraging ratio to policy tool kit

Turkey's central bank will add a required reserve ratio (RRR) based on banks' leverage ratios to its policy tool kit in early 2014 to support financial stability, officials said in an end of year news conference on Tuesday. Laying out its approach on poli
Published 26 Dec, 2012 12:00am
South Korea's Daewoo wins $1.8 billion order from Norway

South Korea's Daewoo wins $1.8 billion order from Norway

South Korea's Daewoo Shipbuilding and Marine Engineering said Tuesday it had secured a 1.9 trillion won ($1.8 billion) order to build a fixed platform for Norway's Statoil ASA. Daewoo said it would complete the 31,000-ton offshore platform for the product
Published 26 Dec, 2012 12:00am
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