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Print - 2013-05-26
Maoist rebels kill 17 in India

Maoist rebels kill 17 in India

Heavily-armed Maoist rebels on Saturday killed 17 people, including 12 local Congress leaders, after ambushing a convoy in a remote tribal belt of central India, a top police officer said. "We can confirm 17 deaths. Among those who have been killed are fi
Published 26 May, 2013 12:00am
Maoist rebels kill 17 in India

Maoist rebels kill 17 in India

Heavily-armed Maoist rebels on Saturday killed 17 people, including 12 local Congress leaders, after ambushing a convoy in a remote tribal belt of central India, a top police officer said. "We can confirm 17 deaths. Among those who have been killed are fi
Published 26 May, 2013 12:00am
High input cost, low profit: Country may miss Kharif crops target

High input cost, low profit: Country may miss Kharif crops target

Country is likely to miss the target of Kharif crops due to high input cost and low profit, officials of Ministry of Food Security and Research said. According to a senior official of the ministry, Pakistan is not likely to achieve the set target of cotto
Published 26 May, 2013 12:00am
High input cost, low profit: Country may miss Kharif crops target

High input cost, low profit: Country may miss Kharif crops target

Country is likely to miss the target of Kharif crops due to high input cost and low profit, officials of Ministry of Food Security and Research said. According to a senior official of the ministry, Pakistan is not likely to achieve the set target of cotto
Published 26 May, 2013 12:00am
High input cost, low profit: Country may miss Kharif crops target

High input cost, low profit: Country may miss Kharif crops target

Country is likely to miss the target of Kharif crops due to high input cost and low profit, officials of Ministry of Food Security and Research said. According to a senior official of the ministry, Pakistan is not likely to achieve the set target of cotto
Published 26 May, 2013 12:00am
France rules out Iran taking part in Syrian peace talks

France rules out Iran taking part in Syrian peace talks

France's foreign minister on Saturday ruled out Iran taking part in a proposed Syria peace conference, saying Tehran was involved in the conflict and had no desire for peace. Laurent Fabius will host Russian Foreign Minister Sergei Lavrov and US Secretary
Published 26 May, 2013 12:00am
France rules out Iran taking part in Syrian peace talks

France rules out Iran taking part in Syrian peace talks

France's foreign minister on Saturday ruled out Iran taking part in a proposed Syria peace conference, saying Tehran was involved in the conflict and had no desire for peace. Laurent Fabius will host Russian Foreign Minister Sergei Lavrov and US Secretary
Published 26 May, 2013 12:00am
IMF chief avoids charges in French payout scandal

IMF chief avoids charges in French payout scandal

IMF Chief Christine Lagarde avoided immediate charges on Friday but was named an "assisted witness" after French prosecutors grilled her for two days over a state payout to a disgraced tycoon when she was finance minister. Lagarde was questioned for a tot
Published 26 May, 2013 12:00am
IMF chief avoids charges in French payout scandal

IMF chief avoids charges in French payout scandal

IMF Chief Christine Lagarde avoided immediate charges on Friday but was named an "assisted witness" after French prosecutors grilled her for two days over a state payout to a disgraced tycoon when she was finance minister. Lagarde was questioned for a tot
Published 26 May, 2013 12:00am
IMF chief avoids charges in French payout scandal

IMF chief avoids charges in French payout scandal

IMF Chief Christine Lagarde avoided immediate charges on Friday but was named an "assisted witness" after French prosecutors grilled her for two days over a state payout to a disgraced tycoon when she was finance minister. Lagarde was questioned for a tot
Published 26 May, 2013 12:00am
Iran says never sent 'military forces' to Syria

Iran says never sent 'military forces' to Syria

Iran's defence minister insisted on Saturday that the country has never sent "military forces" to Syria, reiterating its denial of allegations by Western powers backing Syrian rebels. "The Islamic Republic of Iran has never sent military forces to Syria a
Published 26 May, 2013 12:00am
Aid groups urge EU to fulfil commitments to Palestinians

Aid groups urge EU to fulfil commitments to Palestinians

A group of 80 international aid agencies urged the European Union on Saturday to follow through on pledges it made last year to back Palestinian communities seen as vulnerable to Israeli settlement expansion in the occupied West Bank. Not enough action ha
Published 26 May, 2013 12:00am
British police arrest man after spy claim in soldier case

British police arrest man after spy claim in soldier case

British police arrested a man under anti-terrorism laws at BBC headquarters after an interviewee said security services tried to recruit one of the two men arrested after a soldier was hacked to death in a London street. Michael Adebolajo, 28 and Michael
Published 26 May, 2013 12:00am
EU steps up quest to solve youth unemployment

EU steps up quest to solve youth unemployment

European leaders have decided youth unemployment and the risk of social breakdown are among the toughest challenges they face and finding solutions will be a top priority for the coming months. In a letter released late on Friday, European Council Preside
Published 26 May, 2013 12:00am
EU steps up quest to solve youth unemployment

EU steps up quest to solve youth unemployment

European leaders have decided youth unemployment and the risk of social breakdown are among the toughest challenges they face and finding solutions will be a top priority for the coming months. In a letter released late on Friday, European Council Preside
Published 26 May, 2013 12:00am
EU steps up quest to solve youth unemployment

EU steps up quest to solve youth unemployment

European leaders have decided youth unemployment and the risk of social breakdown are among the toughest challenges they face and finding solutions will be a top priority for the coming months. In a letter released late on Friday, European Council Preside
Published 26 May, 2013 12:00am
17 kids, teacher killed in school bus fire

17 kids, teacher killed in school bus fire

At least 17 children and a teacher were killed when their school bus caught fire in Mangowal area of Gujrat on Saturday, police said. Seven other children were injured in the blaze which destroyed the vehicle. The van was carrying 24 children to a private
Published 26 May, 2013 12:00am
17 kids, teacher killed in school bus fire

17 kids, teacher killed in school bus fire

At least 17 children and a teacher were killed when their school bus caught fire in Mangowal area of Gujrat on Saturday, police said. Seven other children were injured in the blaze which destroyed the vehicle. The van was carrying 24 children to a private
Published 26 May, 2013 12:00am
Thirty-three dead in clash, bombing in Afghanistan

Thirty-three dead in clash, bombing in Afghanistan

At least 33 people, 29 of them Taliban militants, were killed and 18 others, including a Nato soldier, injured in two newly reported incidents in south-eastern Afghanistan, officials said Saturday. A group of Taliban attacked an Afghan Local Police checkp
Published 26 May, 2013 12:00am
Thirty-three dead in clash, bombing in Afghanistan

Thirty-three dead in clash, bombing in Afghanistan

At least 33 people, 29 of them Taliban militants, were killed and 18 others, including a Nato soldier, injured in two newly reported incidents in south-eastern Afghanistan, officials said Saturday. A group of Taliban attacked an Afghan Local Police checkp
Published 26 May, 2013 12:00am
Punjab levies 16 percent PST on various services

Punjab levies 16 percent PST on various services

The caretaker Punjab government has levied a 16 percent provincial sales tax (PST) on a slew of services, including guest houses, motels, marriage halls & lawns and pandal & shamiana. Others are contractual execution of work; foreign exchange dealers and
Published 26 May, 2013 12:00am
Punjab levies 16 percent PST on various services

Punjab levies 16 percent PST on various services

The caretaker Punjab government has levied a 16 percent provincial sales tax (PST) on a slew of services, including guest houses, motels, marriage halls & lawns and pandal & shamiana. Others are contractual execution of work; foreign exchange dealers and
Published 26 May, 2013 12:00am
Punjab levies 16 percent PST on various services

Punjab levies 16 percent PST on various services

The caretaker Punjab government has levied a 16 percent provincial sales tax (PST) on a slew of services, including guest houses, motels, marriage halls & lawns and pandal & shamiana. Others are contractual execution of work; foreign exchange dealers and
Published 26 May, 2013 12:00am
GST could be raised to 17 percent by new government: Sartaj

GST could be raised to 17 percent by new government: Sartaj

The government-elect may consider enhancing General Sale Tax (GST) to 17 percent to increase revenue collection along with other measures to broaden the tax base. Former Finance Minister and a key member of PML-N economic team, Sartaj Aziz while talking t
Published 26 May, 2013 12:00am
GST could be raised to 17 percent by new government: Sartaj

GST could be raised to 17 percent by new government: Sartaj

The government-elect may consider enhancing General Sale Tax (GST) to 17 percent to increase revenue collection along with other measures to broaden the tax base. Former Finance Minister and a key member of PML-N economic team, Sartaj Aziz while talking t
Published 26 May, 2013 12:00am
GST could be raised to 17 percent by new government: Sartaj

GST could be raised to 17 percent by new government: Sartaj

The government-elect may consider enhancing General Sale Tax (GST) to 17 percent to increase revenue collection along with other measures to broaden the tax base. Former Finance Minister and a key member of PML-N economic team, Sartaj Aziz while talking t
Published 26 May, 2013 12:00am
US audit regulator reaches deal with China on document access

US audit regulator reaches deal with China on document access

US regulators will get access to Chinese companies'' audit documents under a deal announced on Friday, opening the way to probes of bungled audits after a two-year stand-off between China and the United States. The nonbinding deal is only a partial victor
Published 26 May, 2013 12:00am
US audit regulator reaches deal with China on document access

US audit regulator reaches deal with China on document access

US regulators will get access to Chinese companies' audit documents under a deal announced on Friday, opening the way to probes of bungled audits after a two-year stand-off between China and the United States. The nonbinding deal is only a partial victory
Published 26 May, 2013 12:00am
US audit regulator reaches deal with China on document access

US audit regulator reaches deal with China on document access

US regulators will get access to Chinese companies' audit documents under a deal announced on Friday, opening the way to probes of bungled audits after a two-year stand-off between China and the United States. The nonbinding deal is only a partial victory
Published 26 May, 2013 12:00am
Leader of the house: PTI to field Hashmi, says Qureshi

Leader of the house: PTI to field Hashmi, says Qureshi

Pakistan Tehrik-e-Insaf (PTI) will pitch the party's president Javed Hashmi against PML-N chief Nawaz Sharif for the post of Prime Minister, PTI's Vice-Chairman Shah Mehmood Qureshi told media persons on Saturday. He was talking with reporters after the c
Published 26 May, 2013 12:00am
Leader of the house: PTI to field Hashmi, says Qureshi

Leader of the house: PTI to field Hashmi, says Qureshi

Pakistan Tehrik-e-Insaf (PTI) will pitch the party's president Javed Hashmi against PML-N chief Nawaz Sharif for the post of Prime Minister, PTI's Vice-Chairman Shah Mehmood Qureshi told media persons on Saturday. He was talking with reporters after the c
Published 26 May, 2013 12:00am
PPP to extend all-out support to PML-N government: Khurshid

PPP to extend all-out support to PML-N government: Khurshid

Pakistan People's Party (PPP) senior leader Syed Khurshid Ahmed Shah Saturday said that his party would extend all out support to Pakistan Muslim League-Nawaz (PML-N) government in the best national interest and to pull the country out of the prevailing c
Published 26 May, 2013 12:00am
PPP to extend all-out support to PML-N government: Khurshid

PPP to extend all-out support to PML-N government: Khurshid

Pakistan People's Party (PPP) senior leader Syed Khurshid Ahmed Shah Saturday said that his party would extend all out support to Pakistan Muslim League-Nawaz (PML-N) government in the best national interest and to pull the country out of the prevailing c
Published 26 May, 2013 12:00am
Jamali joins PML-N

Jamali joins PML-N

Former Prime Minister and independent MNA-elect from NA-266 Mir Zafarullah Jamali on Saturday met Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif and formally announced his decision to join the PML-N unconditionally. During the meeting, the tw
Published 26 May, 2013 12:00am
Jamali joins PML-N

Jamali joins PML-N

Former Prime Minister and independent MNA-elect from NA-266 Mir Zafarullah Jamali on Saturday met Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif and formally announced his decision to join the PML-N unconditionally. During the meeting, the tw
Published 26 May, 2013 12:00am
Dr Malik Baloch nominated as Balochistan chief minister

Dr Malik Baloch nominated as Balochistan chief minister

PML-N chief Nawaz Sharif and the high command of his party have decided to elect Dr Abdul Malik Baloch, President of the National Party (NP), as the Balochistan Chief Minister. Dr Baloch has been an MPA in the Balochistan Assembly thrice, and has also ser
Published 26 May, 2013 12:00am
Dr Malik Baloch nominated as Balochistan chief minister

Dr Malik Baloch nominated as Balochistan chief minister

PML-N chief Nawaz Sharif and the high command of his party have decided to elect Dr Abdul Malik Baloch, President of the National Party (NP), as the Balochistan Chief Minister. Dr Baloch has been an MPA in the Balochistan Assembly thrice, and has also ser
Published 26 May, 2013 12:00am
Shahbaz reiterates pledge: PML-N to start metro bus service in Karachi

Shahbaz reiterates pledge: PML-N to start metro bus service in Karachi

Pakistan Muslim League-Nawaz (PML-N) leader Shahbaz Sharif on Saturday held a meeting with Pir Pagara, the chief of Pakistan Muslim League-Functional (PML-F), in Karachi and formally offered his party to join the government at the Centre, which the latter
Published 26 May, 2013 12:00am
The Weather

The Weather

The weather report on Saturday (May 25, 2013) and the forecast for Sunday (May 26, 2013).

Published 26 May, 2013 12:00am
Shahbaz reiterates pledge: PML-N to start metro bus service in Karachi

Shahbaz reiterates pledge: PML-N to start metro bus service in Karachi

Pakistan Muslim League-Nawaz (PML-N) leader Shahbaz Sharif on Saturday held a meeting with Pir Pagara, the chief of Pakistan Muslim League-Functional (PML-F), in Karachi and formally offered his party to join the government at the Centre, which the latter
Published 26 May, 2013 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Shahbaz reiterates pledge: PML-N to start metro bus service in Karachi

Shahbaz reiterates pledge: PML-N to start metro bus service in Karachi

Pakistan Muslim League-Nawaz (PML-N) leader Shahbaz Sharif on Saturday held a meeting with Pir Pagara, the chief of Pakistan Muslim League-Functional (PML-F), in Karachi and formally offered his party to join the government at the Centre, which the latter
Published 26 May, 2013 12:00am
Isaf Commander meets Kayani

Isaf Commander meets Kayani

General Joseph F Dunford, Commander of the International Security Assistance Force (Isaf), called on General Ashfaq Parvez Kayani, Chief of Army Staff, here on Saturday. According to ISPR, during the meeting, they discussed issues related to border co-ord
Published 26 May, 2013 12:00am
Isaf Commander meets Kayani

Isaf Commander meets Kayani

General Joseph F Dunford, Commander of the International Security Assistance Force (Isaf), called on General Ashfaq Parvez Kayani, Chief of Army Staff, here on Saturday. According to ISPR, during the meeting, they discussed issues related to border co-ord
Published 26 May, 2013 12:00am
Free Trade Area by 2015: deadlock over ECO tariff issues ends

Free Trade Area by 2015: deadlock over ECO tariff issues ends

The member countries of Economic Co-operation Organisation (ECO) have reportedly broken deadlock over tariff issues aimed at liberalising trade by declaring the entire block as Free Trade Area by 2015, well-informed sources told Business Recorder.
Published 26 May, 2013 12:00am
Free Trade Area by 2015: deadlock over ECO tariff issues ends

Free Trade Area by 2015: deadlock over ECO tariff issues ends

The member countries of Economic Co-operation Organisation (ECO) have reportedly broken deadlock over tariff issues aimed at liberalising trade by declaring the entire block as Free Trade Area by 2015, well-informed sources told Business Recorder.
Published 26 May, 2013 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Free Trade Area by 2015: deadlock over ECO tariff issues ends

Free Trade Area by 2015: deadlock over ECO tariff issues ends

The member countries of Economic Co-operation Organisation (ECO) have reportedly broken deadlock over tariff issues aimed at liberalising trade by declaring the entire block as Free Trade Area by 2015, well-informed sources told Business Recorder.
Published 26 May, 2013 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
THE RUPEE: dollar up

THE RUPEE: dollar up

The dollar appreciated against the rupee on the money market on Saturday amid rising demand for the US currency, dealers said. The rupee lost 10 paisa versus the greenback for buying and selling at 99.80 and 100.00, they said. In contrast, the domestic cu
Published 26 May, 2013 12:00am
THE RUPEE: dollar up

THE RUPEE: dollar up

The dollar appreciated against the rupee on the money market on Saturday amid rising demand for the US currency, dealers said. The rupee lost 10 paisa versus the greenback for buying and selling at 99.80 and 100.00, they said. In contrast, the domestic cu
Published 26 May, 2013 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (May 25, 2013).

Published 26 May, 2013 12:00am
Vietnam's May coffee exports fall 46 percent

Vietnam's May coffee exports fall 46 percent

Vietnam's May coffee exports are estimated to have fallen 46 percent from a year ago to 110,000 tonnes, or 1.83 million 60-kg bags, slightly above market expectation, the government's statistics office said on Friday. Coffee exports between October 2012 a
Published 26 May, 2013 12:00am
Oil cake market rates

Oil cake market rates

Divergent trend was seen on the forward cottonseeds oilcake market on Saturday in process of trading, dealers said. The May vaida ended at Rs 908.30. The next day, the business opened at Rs 907.30 in the beginning hours, dealers said. The July contract cl
Published 26 May, 2013 12:00am
Cotton millers adopt wait-and-see strategy

Cotton millers adopt wait-and-see strategy

A wait-and-see attitude adopted by the buyers on the cotton market at the week-end, dealers said. The official spot rate was unchanged at Rs 6,400, they said, adding in the ready business, 1,400 bales of cotton changed hand between 5800-6300.
Published 26 May, 2013 12:00am
Soyabean offers lower on dull demand

Soyabean offers lower on dull demand

Export premiums for near-term soyabean shipments from the US Gulf Coast were lower on Friday, mirroring declines in the CIF barge market which supplies export elevators and pressured by weak demand and a pickup in farmer selling this week, traders said. N
Published 26 May, 2013 12:00am
US natural gas futures end down on pre-holiday

US natural gas futures end down on pre-holiday

US natural gas futures ended slightly lower on Friday in light profit-taking ahead of a three-day holiday weekend, but the downside was limited by forecasts for warmer weather next week which should stir more demand. Traders said the market was due for a
Published 26 May, 2013 12:00am
Russia's April gasoline exports rise

Russia's April gasoline exports rise

Russian gasoline exports rose 50.7 percent to 473.019 tonnes in April month-on-month, while domestic shipments fell by 11.1 percent, Energy Ministry and Reuters data showed. Gasoil and fuel oil exports fell by 18.0 percent and 5.6 percent, respectively. L
Published 26 May, 2013 12:00am
Indian sugar futures fall due to weak demand

Indian sugar futures fall due to weak demand

Indian sugar futures fell on Friday, extending losses from the previous session, due to higher supplies and weak demand despite the summer season, which usually helps sugar sales. Lower global prices also weighed on the contract. The benchmark July raw su
Published 26 May, 2013 12:00am
Indian soya futures down on monsoon prospects

Indian soya futures down on monsoon prospects

Indian soyabean futures fell on Friday as prospects of a timely arrival of the monsoon brightened in the absence of any abnormalities in the weather system, while soyaoil rose on weak rupee. "Timely monsoon onset will improve output prospects for summer-p
Published 26 May, 2013 12:00am
French rapeseed crop could drop to seven-year low: analyst

French rapeseed crop could drop to seven-year low: analyst

The rapeseed harvest in France could shrink by 19 percent this year to a 7-year low of 4.4 million tonnes after a difficult growing season marked by adverse weather and attacks from crop pests, grains consultancy Agritel said on Friday. Production of rape
Published 26 May, 2013 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 116,600 tonnes of cargo comprising 84,781 tonnes of import cargo and 31,819 tonnes of export cargo including 4,087 loaded and empty containers during the last 24 hours ended at 0700 hours on Saturday. The total import cargo of 84,
Published 26 May, 2013 12:00am
Europe coffee: producers cut sales as prices crash to three-year lows

Europe coffee: producers cut sales as prices crash to three-year lows

The collapse in arabica futures to three-year lows sharply cut selling by producer countries in Europe's cash coffee market this week but the fall sparked roaster purchase interest especially in Brazilian and Colombian beans, traders said on Friday.
Published 26 May, 2013 12:00am
Positive developments propel retailers to make new deals on grain market

Positive developments propel retailers to make new deals on grain market

Aspects and expectations for positive developments on both economic and political fronts propelled retailers to finalise deals on the wholesale grain market on Saturday, dealers said. Other commodity and grain experts attributed an increase in activity to
Published 26 May, 2013 12:00am
Greece modifies DEPA privatisation terms to accommodate Gazprom

Greece modifies DEPA privatisation terms to accommodate Gazprom

Greece agreed to change some terms in the planned privatisation of natural gas distributor DEPA, opening the way for Russian energy giant Gazprom to bid for the firm, a senior official directly involved in the sale talks said on Saturday. Privatisation ag
Published 26 May, 2013 12:00am
Goldman unveils checks on conflicts in bid to fix image

Goldman unveils checks on conflicts in bid to fix image

After dozens of meetings with executives and regulators, 100,000 hours of employee training and an immeasurable amount of public grief, Goldman Sachs Group Inc's Lloyd Blankfein claimed success in putting the bank and his legacy as CEO back on track.
Published 26 May, 2013 12:00am
Investors boost direct investment in Mexico, cut stocks

Investors boost direct investment in Mexico, cut stocks

A healthy boost in foreign direct investment in the first quarter underscored confidence in Latin America's No 2 economy even as investment flows into the country's stocks and bonds moderated, central bank data showed on Friday. Foreign direct investment
Published 26 May, 2013 12:00am
Brazil cancels $900 million in African debt

Brazil cancels $900 million in African debt

Brazil said Saturday it plans to cancel $900 million (700 million euro) worth of debt in 12 African countries, as part of a broader strategy to boost ties with the continent. "The idea of having Africa as a special relationship for Brazil is strategic for
Published 26 May, 2013 12:00am
Board of Italy's ILVA steel group quits

Board of Italy's ILVA steel group quits

The management board of Italian steel group ILVA has resigned, the company said on Saturday, following the seizure of 8 billion euros of assets from its controlling company in connection with allegations of environmental crimes. ILVA, whose main plant in
Published 26 May, 2013 12:00am
Italy wants flexible EU deficit rules to enable job creation

Italy wants flexible EU deficit rules to enable job creation

Countries that respect overall European Union deficit targets should be given greater "flexibility" to finance job creation programmes, Italian Prime Minister Enrico Letta said Saturday. On Wednesday, the European Commission is expected to remove Italy fr
Published 26 May, 2013 12:00am
Blackstone notifies Cohen's SAC it intends to pull money

Blackstone notifies Cohen's SAC it intends to pull money

Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc, the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuter
Published 26 May, 2013 12:00am
Blackstone notifies Cohen's SAC it intends to pull money

Blackstone notifies Cohen's SAC it intends to pull money

Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc, the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuter
Published 26 May, 2013 12:00am
Jordan's economy set to grow 3.5 percent in 2013

Jordan's economy set to grow 3.5 percent in 2013

Jordan's economy is expected to grow around 3.5 percent this year driven by remittances, higher domestic consumption and some pickup in construction activity, the kingdom's Central Bank governor said on Saturday. Ziad Fariz told Reuters on the sidelines o
Published 26 May, 2013 12:00am
Chinese premier criticises EU move on trade measures

Chinese premier criticises EU move on trade measures

Chinese Premier Li Keqiang criticised the European Union over its plans to investigate alleged anti-competitive behaviour by Chinese mobile telecom equipment makers and to impose punitive import duties on solar panels from China, state media reported. The
Published 26 May, 2013 12:00am
Sri Lankan Airlines to buy 10 Airbus aircraft for $1.3 billion

Sri Lankan Airlines to buy 10 Airbus aircraft for $1.3 billion

Loss-making national carrier Sri Lankan Airlines has signed a provisional deal with Airbus worth $1.3 billion to buy six A330-300 and four A350-900 aircraft between 2014 and 2023 to replace ageing aircraft, the state-run firm's CEO told Reuters. The airli
Published 26 May, 2013 12:00am
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