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Feb 16, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2013-10-30
Paraguay may issue more debt in 2014

Paraguay may issue more debt in 2014

Paraguay may issue sovereign debt again in 2014 once it has passed a more balanced budget, the country's new finance minister said on Monday, signalling no rush to follow up a successful debut in global credit markets this year. Finance Minister German Ro
Published 30 Oct, 2013 12:00am
US confirms criminal probe of forex manipulation

US confirms criminal probe of forex manipulation

The US Justice Department is investigating the manipulation of foreign exchange rates, a top federal prosecutor said on Tuesday, in the first public acknowledgement of such a probe in the United States. Criminal and antitrust authorities have an "active,
Published 30 Oct, 2013 12:00am
How France's Hollande plans to win his bet on jobs

How France's Hollande plans to win his bet on jobs

Defying all predictions by the IMF, the European Commission and the bulk of private economists, President Francois Hollande is still banking on a turnaround in French unemployment by the end of the year. Not only that, he has upped the stakes by making it
Published 30 Oct, 2013 12:00am
US confirms criminal probe of forex manipulation

US confirms criminal probe of forex manipulation

The US Justice Department is investigating the manipulation of foreign exchange rates, a top federal prosecutor said on Tuesday, in the first public acknowledgement of such a probe in the United States. Criminal and antitrust authorities have an "active,
Published 30 Oct, 2013 12:00am
Flexjet to buy first long-haul planes as private flying grows

Flexjet to buy first long-haul planes as private flying grows

Flexjet, the corporate jet leasing company, plans to add up to 50 long-haul aircraft to its fleet in a potential $3.2 billion deal that could mark its first use of Gulfstream aircraft, as a change in Flexjet's ownership may wean it from Bombardier jets. E
Published 30 Oct, 2013 12:00am
June 21-29 period: GST rate cut given legal cover

June 21-29 period: GST rate cut given legal cover

The Federal Board of Revenue has withdrawn one percent increase in sales tax rate from June 21-29, 2013 and tax charged at the reduced rate of 16 percent on import and local supply of goods has been given legal cover during the said period. In this regard
Published 30 Oct, 2013 12:00am
Turkish manufacturing activity rises sharply in September

Turkish manufacturing activity rises sharply in September

Turkish manufacturing activity grew in September at the fastest rate since January thanks to sharp rises in output and new orders, a survey showed on Tuesday. The HSBC Turkey purchasing managers' index for manufacturing, which accounts for about a quarter
Published 30 Oct, 2013 12:00am
June 21-29 period: GST rate cut given legal cover

June 21-29 period: GST rate cut given legal cover

The Federal Board of Revenue has withdrawn one percent increase in sales tax rate from June 21-29, 2013 and tax charged at the reduced rate of 16 percent on import and local supply of goods has been given legal cover during the said period. In this regard
Published 30 Oct, 2013 12:00am
Freeport beats Street, looks at sales but in no rush

Freeport beats Street, looks at sales but in no rush

Freeport-McMoRan Copper & Gold Inc reported better-than-expected third-quarter results on Tuesday, lifting its shares 4 percent, and the company said it was still looking at asset sales but was not under any pressure to do them quickly. Freeport, the worl
Published 30 Oct, 2013 12:00am
June 21-29 period: GST rate cut given legal cover

June 21-29 period: GST rate cut given legal cover

The Federal Board of Revenue has withdrawn one percent increase in sales tax rate from June 21-29, 2013 and tax charged at the reduced rate of 16 percent on import and local supply of goods has been given legal cover during the said period. In this regard
Published 30 Oct, 2013 12:00am
Premier Foods to keep Hovis, eyes overseas partners

Premier Foods to keep Hovis, eyes overseas partners

Britain's Premier Foods is focused on expanding Hovis bread, one of its biggest brands, and has no plan to sell the business for now, the company's chief executive said on Tuesday. The maker of Mr Kipling cakes and Bisto gravy has spent years dealing with
Published 30 Oct, 2013 12:00am
KSE turns bearish

KSE turns bearish

Karachi share market witnessed a bearish trend for the second day in a row as KSE-100 index lost 76.55 points to close at 22,276.65 points. Despite announcement of several corporate results, investors were reluctant to actively participate in the market a
Published 30 Oct, 2013 12:00am
UAE business activity growth at 29-month high in September

UAE business activity growth at 29-month high in September

Business activity growth in the United Arab Emirates' non-oil private sector accelerated to a 29-month high in September, while output rose at the fastest pace since May 2011, a purchasing managers' survey showed on Thursday. The HSBC UAE Purchasing Manag
Published 30 Oct, 2013 12:00am
KSE turns bearish

KSE turns bearish

Karachi share market witnessed a bearish trend for the second day in a row as KSE-100 index lost 76.55 points to close at 22,276.65 points. Despite announcement of several corporate results, investors were reluctant to actively participate in the market a
Published 30 Oct, 2013 12:00am
PCB chief suspended, later reinstated

PCB chief suspended, later reinstated

The legal tussle rocking the Pakistan Cricket Board took another dramatic twist Tuesday as the interim chairman was suspended by a court order, only to be reinstated two hours later. A judge at Islamabad High Court suspended Najam Sethi for not obeying a
Published 30 Oct, 2013 12:00am
KSE turns bearish

KSE turns bearish

Karachi share market witnessed a bearish trend for the second day in a row as KSE-100 index lost 76.55 points to close at 22,276.65 points. Despite announcement of several corporate results, investors were reluctant to actively participate in the market a
Published 30 Oct, 2013 12:00am
Bilbao halt Getafe charge and climb to fifth in La Liga

Bilbao halt Getafe charge and climb to fifth in La Liga

Athletic Bilbao ended Getafe's run of four straight wins and climbed above them into fifth place in La Liga when Aymeric Laporte's early bullet header secured a 1-0 win at the Coliseum in Madrid on Monday. An entertaining game played at frenetic pace was
Published 30 Oct, 2013 12:00am
BRIndex30 sheds 70.55 points

BRIndex30 sheds 70.55 points

On Tuesday, BRIndex30 opened at 12,969.72. It touched an intraday high of 13,072.89 and an intraday low of 12,884.95 and closed at 12,899.17, which was -70.55 points or -0.54 percent lower than previous close. Total volume was 44,892,700, which was 56.03
Published 30 Oct, 2013 12:00am
Rubel claims hat-trick as Bangladesh crush New Zealand

Rubel claims hat-trick as Bangladesh crush New Zealand

Rubel Hossain claimed six wickets including a hat-trick as Bangladesh crushed New Zealand by 43 runs Tuesday in the first one-day international, leading 1-0 in the three-match series. Rubel finished with 6-26, helping the hosts to dismiss New Zealand for
Published 30 Oct, 2013 12:00am
BRIndex30 sheds 70.55 points

BRIndex30 sheds 70.55 points

On Tuesday, BRIndex30 opened at 12,969.72. It touched an intraday high of 13,072.89 and an intraday low of 12,884.95 and closed at 12,899.17, which was -70.55 points or -0.54 percent lower than previous close. Total volume was 44,892,700, which was 56.03
Published 30 Oct, 2013 12:00am
DRS moves put heat on Ashes umpires

DRS moves put heat on Ashes umpires

Controversial umpiring punctuated the last Ashes series but match officials may be under more pressure in the upcoming Tests as they grapple with a much-changed Decision Review System (DRS). Tensions involving DRS ran high during England's 3-0 home win th
Published 30 Oct, 2013 12:00am
British Prime Minister unveils Islamic bond plan

British Prime Minister unveils Islamic bond plan

British Prime Minister David Cameron on Tuesday announced a "world first" Islamic index for the London Stock Exchange, as well as plans for Britain to become the first non-Muslim country to issue Islamic bonds. On the opening day of the World Islamic Econ
Published 30 Oct, 2013 12:00am
De Villiers eyes winning ODI start

De Villiers eyes winning ODI start

South African captain AB de Villiers vowed to attack Pakistan for a winning start at the opening one-day match in Sharjah on Wednesday despite his team being down two key playmakers. The Proteas are missing both star batsman Hashim Amla and spearhead Dale
Published 30 Oct, 2013 12:00am
British Prime Minister unveils Islamic bond plan

British Prime Minister unveils Islamic bond plan

British Prime Minister David Cameron on Tuesday announced a "world first" Islamic index for the London Stock Exchange, as well as plans for Britain to become the first non-Muslim country to issue Islamic bonds. On the opening day of the World Islamic Econ
Published 30 Oct, 2013 12:00am
Dimitrov continues streak as Mahut cheers home fans

Dimitrov continues streak as Mahut cheers home fans

Bulgaria's Grigor Dimitrov continued his rich vein of form on Tuesday as he marched into the second round of the Paris Masters with a three-set win over Frenchman Michael Llodra. The lanky 22-year-old lost the opening set in a tie-break before taking cont
Published 30 Oct, 2013 12:00am
British Prime Minister unveils Islamic bond plan

British Prime Minister unveils Islamic bond plan

British Prime Minister David Cameron on Tuesday announced a "world first" Islamic index for the London Stock Exchange, as well as plans for Britain to become the first non-Muslim country to issue Islamic bonds. On the opening day of the World Islamic Econ
Published 30 Oct, 2013 12:00am
Juventus sanctioned over anti-Naples chanting

Juventus sanctioned over anti-Naples chanting

Serie A champions Juventus became on Monday the latest team to be sanctioned for anti-Naples chanting by their fans during a game, the Serie A league said in a statement. Serie A's disciplinary tribunal ordered both tiers of the South Curve at the Juventu
Published 30 Oct, 2013 12:00am
British Prime Minister unveils Islamic bond plan

British Prime Minister unveils Islamic bond plan

British Prime Minister David Cameron on Tuesday announced a "world first" Islamic index for the London Stock Exchange, as well as plans for Britain to become the first non-Muslim country to issue Islamic bonds. On the opening day of the World Islamic Econ
Published 30 Oct, 2013 12:00am
Brazilian bank lending slows as state-run banks pull back

Brazilian bank lending slows as state-run banks pull back

Brazilian bank lending growth cooled in September as state-run banks began putting the brakes on their rapid growth in loan disbursements, central bank data showed on Tuesday. Outstanding loans in Brazil's banking system rose 0.8 percent in September from
Published 30 Oct, 2013 12:00am
Trilateral summit: Nawaz urges Taliban to join Kabul peace initiative

Trilateral summit: Nawaz urges Taliban to join Kabul peace initiative

Tripartite conference among Pakistan‚ Britain and Afghanistan was held here on Tuesday. Prime Minister Nawaz Sharif‚ British Prime Minister David Cameron‚ and Afghan President Hamid Karzai attended the conference. The conference discussed post foreign tro
Published 30 Oct, 2013 12:00am
Canada's producer prices fall on metals, gasoline

Canada's producer prices fall on metals, gasoline

Lower prices for primary metal products and gasoline triggered a 0.3 percent decline in Canada's industrial producer prices in September from August, following three straight months of advances, Statistics Canada said on Tuesday. Raw materials prices also
Published 30 Oct, 2013 12:00am
Trilateral summit: Nawaz urges Taliban to join Kabul peace initiative

Trilateral summit: Nawaz urges Taliban to join Kabul peace initiative

Tripartite conference among Pakistan‚ Britain and Afghanistan was held here on Tuesday. Prime Minister Nawaz Sharif‚ British Prime Minister David Cameron‚ and Afghan President Hamid Karzai attended the conference. The conference discussed post foreign tro
Published 30 Oct, 2013 12:00am
Spanish retail sales end long slump, but hard road ahead

Spanish retail sales end long slump, but hard road ahead

Spanish retail sales rose for the first time since June 2010 in September and the government said this year's budget was on track, offering glimmers of hope for a long-depressed economy as the country exits a two-year recession. The 2.2 percent annual gro
Published 30 Oct, 2013 12:00am
Islamic nations have much to offer to world: Prime Minister

Islamic nations have much to offer to world: Prime Minister

Prime Minister Muhammad Nawaz Sharif Tuesday said that with more than 1.5 billion people, over 835 million youth and a combined GDP of $6.6 trillion, the Islamic nations have much to offer the world, both in economic contribution as well as socio-politica
Published 30 Oct, 2013 12:00am
Syria hunts again for rice and sugar in government tenders

Syria hunts again for rice and sugar in government tenders

A Syrian state agency re-issued two tenders on Monday, seeking quantities of rice and sugar it has repeatedly tried and failed to obtain since June. The General Foreign Trade Organisation (GFTO) said it was seeking to buy 276,000 tonnes of white sugar and
Published 30 Oct, 2013 12:00am
Islamic nations have much to offer to world: Prime Minister

Islamic nations have much to offer to world: Prime Minister

Prime Minister Muhammad Nawaz Sharif Tuesday said that with more than 1.5 billion people, over 835 million youth and a combined GDP of $6.6 trillion, the Islamic nations have much to offer the world, both in economic contribution as well as socio-politica
Published 30 Oct, 2013 12:00am
Detroit's finances 'shocking,' city manager testifies

Detroit's finances 'shocking,' city manager testifies

Detroit's financial status was "shocking" when he first took office, the city's emergency manager said in federal court testimony Monday, and no knowledgeable person ever has disputed his claim that the city is insolvent, he added. Detroit Emergency Manag
Published 30 Oct, 2013 12:00am
Islamic nations have much to offer to world: Prime Minister

Islamic nations have much to offer to world: Prime Minister

Prime Minister Muhammad Nawaz Sharif Tuesday said that with more than 1.5 billion people, over 835 million youth and a combined GDP of $6.6 trillion, the Islamic nations have much to offer the world, both in economic contribution as well as socio-politica
Published 30 Oct, 2013 12:00am
Detroit's finances 'shocking,' city manager testifies

Detroit's finances 'shocking,' city manager testifies

Detroit's financial status was "shocking" when he first took office, the city's emergency manager said in federal court testimony Monday, and no knowledgeable person ever has disputed his claim that the city is insolvent, he added. Detroit Emergency Manag
Published 30 Oct, 2013 12:00am
Imran challenges appointment of NAB chief

Imran challenges appointment of NAB chief

Pakistan Tehreek-e-Insaf on Tuesday challenged the appointment of Qamar Zaman Chaudhry as Chairman of National Accountability Bureau (NAB), contending that any individual whose conduct is questionable or controversial should not be considered for the slot
Published 30 Oct, 2013 12:00am
Egypt hopes to start oil debt payments by year-end

Egypt hopes to start oil debt payments by year-end

Egypt hopes to start repaying debts to oil firms within two months, a top state executive said on Monday while adding his firm was still in talks with the government, snowed under by other requests, on how and when exactly it could repay $6 billion. "By h
Published 30 Oct, 2013 12:00am
Imran challenges appointment of NAB chief

Imran challenges appointment of NAB chief

Pakistan Tehreek-e-Insaf on Tuesday challenged the appointment of Qamar Zaman Chaudhry as Chairman of National Accountability Bureau (NAB), contending that any individual whose conduct is questionable or controversial should not be considered for the slot
Published 30 Oct, 2013 12:00am
China eyes reforms on land, state firms, welfare

China eyes reforms on land, state firms, welfare

An influential think tank linked to China's state council, or cabinet, has recommended creating a national social security system, changes to state-owned enterprises and land reform, according to media. It was not immediately known if the sweeping reforms
Published 30 Oct, 2013 12:00am
PSM future strategy: three-man panel formed to suggest way forward

PSM future strategy: three-man panel formed to suggest way forward

Pakistan Steel Mills (PSM) Board of Directors (BoD) on Tuesday constituted a three-member committee to suggest a way forward for the future of the mill, keeping on mind that the government will not provide a single penny except salaries to the employees,
Published 30 Oct, 2013 12:00am
EBRD ready to counter market risks in Poland pension overhaul

EBRD ready to counter market risks in Poland pension overhaul

Poland's overhaul of private pension funds may cause a withdrawal of foreign capital from its financial markets in the short term, and the European Bank of Reconstruction and Development is ready to help plug the gap by investing in public share offers, t
Published 30 Oct, 2013 12:00am
PSM future strategy: three-man panel formed to suggest way forward

PSM future strategy: three-man panel formed to suggest way forward

Pakistan Steel Mills (PSM) Board of Directors (BoD) on Tuesday constituted a three-member committee to suggest a way forward for the future of the mill, keeping on mind that the government will not provide a single penny except salaries to the employees,
Published 30 Oct, 2013 12:00am
EBRD ready to counter market risks in Poland pension overhaul

EBRD ready to counter market risks in Poland pension overhaul

Poland's overhaul of private pension funds may cause a withdrawal of foreign capital from its financial markets in the short term, and the European Bank of Reconstruction and Development is ready to help plug the gap by investing in public share offers, t
Published 30 Oct, 2013 12:00am
PSM future strategy: three-man panel formed to suggest way forward

PSM future strategy: three-man panel formed to suggest way forward

Pakistan Steel Mills (PSM) Board of Directors (BoD) on Tuesday constituted a three-member committee to suggest a way forward for the future of the mill, keeping on mind that the government will not provide a single penny except salaries to the employees,
Published 30 Oct, 2013 12:00am
Finland's Metso eyes growth in Africa

Finland's Metso eyes growth in Africa

Africa, with its wealth of untapped natural resources, is the next frontier for Finland's Metso, as the engineering services and mining supplier searches for growth at a time of cost and spending cuts across the mining industry. Metso - which is splitting
Published 30 Oct, 2013 12:00am
LSE index drops by 15.58 points

LSE index drops by 15.58 points

Equities on Tuesday moved both ways on the Lahore Stock Exchange and finally settled in negative zone amid decreased trading turnover. The LSE-25 index lost 15.58 points to close at 4293.79 against 4309.37 of Monday, while transaction volume was squeezed
Published 30 Oct, 2013 12:00am
Kimberly-Clark's profit tops view

Kimberly-Clark's profit tops view

Kimberly-Clark Corp, maker of Kleenex tissues, posted a bigger-than-anticipated rise in quarterly profit on Tuesday on continued growth overseas as well as global cost cutting. While total sales rose a modest 0.3 percent, when stripping out the impact of
Published 30 Oct, 2013 12:00am
LSE index drops by 15.58 points

LSE index drops by 15.58 points

Equities on Tuesday moved both ways on the Lahore Stock Exchange and finally settled in negative zone amid decreased trading turnover. The LSE-25 index lost 15.58 points to close at 4293.79 against 4309.37 of Monday, while transaction volume was squeezed
Published 30 Oct, 2013 12:00am
Kimberly-Clark's profit tops view

Kimberly-Clark's profit tops view

Kimberly-Clark Corp, maker of Kleenex tissues, posted a bigger-than-anticipated rise in quarterly profit on Tuesday on continued growth overseas as well as global cost cutting. While total sales rose a modest 0.3 percent, when stripping out the impact of
Published 30 Oct, 2013 12:00am
ISE index loses 8.53 points

ISE index loses 8.53 points

Bears retuned in the driving seat at the Islamabad Stock Exchange (ISE) where losers outclassed gainers amid decrease in index. ISE Ten Index showed a decrease of 8.53 points as the ISE Ten Index moved from 4,237.14 to 4,228.61 points. The overall turnove
Published 30 Oct, 2013 12:00am
Sri Lanka suspends final approval for casinos

Sri Lanka suspends final approval for casinos

Sri Lanka has suspended final approval for two casinos involving a total investment of around a billion dollars after protests from within the ruling coalition's ranks, a minister said Tuesday. A bill giving the two separate casino hotels the go-ahead and
Published 30 Oct, 2013 12:00am
ISE index loses 8.53 points

ISE index loses 8.53 points

Bears retuned in the driving seat at the Islamabad Stock Exchange (ISE) where losers outclassed gainers amid decrease in index. ISE Ten Index showed a decrease of 8.53 points as the ISE Ten Index moved from 4,237.14 to 4,228.61 points. The overall turnove
Published 30 Oct, 2013 12:00am
US drug giant Amgen raises full-year revenue outlook

US drug giant Amgen raises full-year revenue outlook

Amgen Inc, which this month closed a nearly $10 billion acquisition of cancer drug maker Onyx Pharmaceuticals, reported higher-than-expected, third-quarter profit as results were helped by a large US government order for one of its white blood cell booste
Published 30 Oct, 2013 12:00am
InvestBank posts loss of Rs 107 million

InvestBank posts loss of Rs 107 million

InvestBank has posted a loss of Rs 10.7 million for the quarter ended September 2013 as compared to a profit of Rs 7.968 million in same period of last year. During the period under review, the bank's loss per share stood at Rs 0.04 compared to Earning pe
Published 30 Oct, 2013 12:00am
US drug giant Amgen raises full-year revenue outlook

US drug giant Amgen raises full-year revenue outlook

Amgen Inc, which this month closed a nearly $10 billion acquisition of cancer drug maker Onyx Pharmaceuticals, reported higher-than-expected, third-quarter profit as results were helped by a large US government order for one of its white blood cell booste
Published 30 Oct, 2013 12:00am
InvestBank posts loss of Rs 107 million

InvestBank posts loss of Rs 107 million

InvestBank has posted a loss of Rs 10.7 million for the quarter ended September 2013 as compared to a profit of Rs 7.968 million in same period of last year. During the period under review, the bank's loss per share stood at Rs 0.04 compared to Earning pe
Published 30 Oct, 2013 12:00am
Netherlands unveils austerity-driven budget

Netherlands unveils austerity-driven budget

Dutch Finance Minister Jeroen Dijsselbloem unveiled his 2014 austerity-driven budget on Tuesday, as the fifth-largest eurozone economy struggles to return to growth. "Balance has not yet returned to our economy, and that can be seen from the figures," Dij
Published 30 Oct, 2013 12:00am
Wheat growers be provided inputs on subsidised rates: Munawwar

Wheat growers be provided inputs on subsidised rates: Munawwar

Ameer Jamaat-i-Islami Syed Munawwar Hasan has said that the government should safeguard the interests of both growers and the general public in so far as the wheat procurement price was concerned. Commenting on the government decision not to raise wheat p
Published 30 Oct, 2013 12:00am
Boeing slows production of 747; little financial impact seen

Boeing slows production of 747; little financial impact seen

Boeing Co said on Friday it was notching down the production rate of its biggest plane, the iconic bubble-top 747, due to slack demand. The slowdown won't affect financial forecasts for Boeing, analysts said, because production of the jet is so limited. O
Published 30 Oct, 2013 12:00am
PIAF urges TDAP to share export-related information

PIAF urges TDAP to share export-related information

Pakistan Industrial and Traders Association Front (PIAF) has urged the Trade Development Authority of Pakistan (TDAP) to share export-related information with business community. Talking to a group of leading exporters, PIAF Chairman Malik Tahir Javed on
Published 30 Oct, 2013 12:00am
Boeing slows production of 747; little financial impact seen

Boeing slows production of 747; little financial impact seen

Boeing Co said on Friday it was notching down the production rate of its biggest plane, the iconic bubble-top 747, due to slack demand. The slowdown won't affect financial forecasts for Boeing, analysts said, because production of the jet is so limited. O
Published 30 Oct, 2013 12:00am
Narendra Modi rally: 'Indian Mujahideen behind attack'

Narendra Modi rally: 'Indian Mujahideen behind attack'

An Islamist militant group is believed to be behind an attack on a rally by Indian Hindu nationalist politician Narendra Modi that killed six people and wounded more than 80, police said on Tuesday. Modi, who has a good chance of becoming India's next pri
Published 30 Oct, 2013 12:00am
Maersk bullish on Latin America, eyes Mexico's deep water oil

Maersk bullish on Latin America, eyes Mexico's deep water oil

Danish oil and shipping group A.P. Moller-Maersk sees big investment potential in Latin America, including deep water oil projects and ports in Mexico, its chief executive said on Tuesday. In an interview with Reuters, Maersk's Chief Executive Nils Anders
Published 30 Oct, 2013 12:00am
Narendra Modi rally: 'Indian Mujahideen behind attack'

Narendra Modi rally: 'Indian Mujahideen behind attack'

An Islamist militant group is believed to be behind an attack on a rally by Indian Hindu nationalist politician Narendra Modi that killed six people and wounded more than 80, police said on Tuesday. Modi, who has a good chance of becoming India's next pri
Published 30 Oct, 2013 12:00am
US consumer spending gauge rises, but confidence weakens

US consumer spending gauge rises, but confidence weakens

A gauge of US consumer spending rose in September as Americans likely snapped up Apple's new iPhone and bought leisure goods, but falling car sales pointed to sluggish economic growth. And even the signs of strength could be short-lived as other data on T
Published 30 Oct, 2013 12:00am
LG polls code of conduct tomorrow: acting CEC

LG polls code of conduct tomorrow: acting CEC

Acting Chief Election Commissioner (CEC), Justice Tassaduq Hussain Jilani said on Tuesday that holding free, fair and transparent Local Government (LG) elections across the country in such a short period of time is really a challenge. A high-level meeting
Published 30 Oct, 2013 12:00am
French Prime Minister suspends 'ecotax' on trucks after protests

French Prime Minister suspends 'ecotax' on trucks after protests

France's Socialist government made its second climbdown on tax policy in a week on Tuesday amid rising protests against the fiscal burden and opinion polls showing its approval rating at an all-time low. Prime Minister Jean-Marc Ayrault announced the susp
Published 30 Oct, 2013 12:00am
LG polls code of conduct tomorrow: acting CEC

LG polls code of conduct tomorrow: acting CEC

Acting Chief Election Commissioner (CEC), Justice Tassaduq Hussain Jilani said on Tuesday that holding free, fair and transparent Local Government (LG) elections across the country in such a short period of time is really a challenge. A high-level meeting
Published 30 Oct, 2013 12:00am
Apple's results fail to excite ahead of holiday quarter

Apple's results fail to excite ahead of holiday quarter

Apple Inc's profit and margins slid despite selling 33.8 million iPhones in its September quarter, and greater China revenue climbed just 6 percent even though two smartphone models hit store shelves in its second-largest market last month. The unremarkab
Published 30 Oct, 2013 12:00am
1QFY14: profit repatriation by foreign investors surges by 54 percent

1QFY14: profit repatriation by foreign investors surges by 54 percent

The repatriation of profit and dividend by the foreign investors has registered a healthy growth of 54 percent during the first quarter of the current fiscal year (FY14). Bankers said the current increase in outflow of profit and dividend reflects that Pa
Published 30 Oct, 2013 12:00am
Apple's results fail to excite ahead of holiday quarter

Apple's results fail to excite ahead of holiday quarter

Apple Inc's profit and margins slid despite selling 33.8 million iPhones in its September quarter, and greater China revenue climbed just 6 percent even though two smartphone models hit store shelves in its second-largest market last month. The unremarkab
Published 30 Oct, 2013 12:00am
1QFY14: profit repatriation by foreign investors surges by 54 percent

1QFY14: profit repatriation by foreign investors surges by 54 percent

The repatriation of profit and dividend by the foreign investors has registered a healthy growth of 54 percent during the first quarter of the current fiscal year (FY14). Bankers said the current increase in outflow of profit and dividend reflects that Pa
Published 30 Oct, 2013 12:00am
BP reports profit slide, plans disposals

BP reports profit slide, plans disposals

British energy giant BP said on Tuesday that its net profit slid 34 percent in the third quarter, mainly as a result of lower refining margins. BP, which remains weighed down by huge compensation payouts linked to the Gulf of Mexico oil spill disaster in
Published 30 Oct, 2013 12:00am
1QFY14: profit repatriation by foreign investors surges by 54 percent

1QFY14: profit repatriation by foreign investors surges by 54 percent

The repatriation of profit and dividend by the foreign investors has registered a healthy growth of 54 percent during the first quarter of the current fiscal year (FY14). Bankers said the current increase in outflow of profit and dividend reflects that Pa
Published 30 Oct, 2013 12:00am
BP reports profit slide, plans disposals

BP reports profit slide, plans disposals

British energy giant BP said on Tuesday that its net profit slid 34 percent in the third quarter, mainly as a result of lower refining margins. BP, which remains weighed down by huge compensation payouts linked to the Gulf of Mexico oil spill disaster in
Published 30 Oct, 2013 12:00am
Turkey opens rail tunnel linking Europe to Asia

Turkey opens rail tunnel linking Europe to Asia

Turkey opened the world's first underwater rail link between two continents on Tuesday, connecting Asia and Europe and allowing Prime Minister Tayyip Erdogan to realise a project dreamt up by Ottoman sultans more than a century ago. The engineering feat s
Published 30 Oct, 2013 12:00am
IBM approves another $15 billion for share buybacks

IBM approves another $15 billion for share buybacks

IBM has approved another $15 billion for share buybacks on top of about $5.6 billion set aside previously and left over from an earlier authorisation, helping its shares gain 2 percent on Tuesday. The latest authorization takes the total set aside for its
Published 30 Oct, 2013 12:00am
Turkey opens rail tunnel linking Europe to Asia

Turkey opens rail tunnel linking Europe to Asia

Turkey opened the world's first underwater rail link between two continents on Tuesday, connecting Asia and Europe and allowing Prime Minister Tayyip Erdogan to realise a project dreamt up by Ottoman sultans more than a century ago. The engineering feat s
Published 30 Oct, 2013 12:00am
IBM approves another $15 billion for share buybacks

IBM approves another $15 billion for share buybacks

IBM has approved another $15 billion for share buybacks on top of about $5.6 billion set aside previously and left over from an earlier authorisation, helping its shares gain 2 percent on Tuesday. The latest authorization takes the total set aside for its
Published 30 Oct, 2013 12:00am
Turkey opens rail tunnel linking Europe to Asia

Turkey opens rail tunnel linking Europe to Asia

Turkey opened the world''s first underwater rail link between two continents on Tuesday, connecting Asia and Europe and allowing Prime Minister Tayyip Erdogan to realise a project dreamt up by Ottoman sultans more than a century ago. The engineering feat
Published 30 Oct, 2013 12:00am
Thomson Reuters to trim 4,500 jobs

Thomson Reuters to trim 4,500 jobs

The global financial information group Thomson Reuters said Tuesday it would cut some 4,500 jobs in its finance operations by the end of 2014 after reporting a drop in profits. The cuts, outlined in documents accompanying its quarterly results, are deeper
Published 30 Oct, 2013 12:00am
Dutch Rabobank fined $1 billion over Libor scandal

Dutch Rabobank fined $1 billion over Libor scandal

US and European regulators have fined Dutch lender Rabobank $1 billion for rigging benchmark interest rates, making it the fifth bank punished in a scandal that has helped to shred faith in the industry. Rabobank said on Tuesday it would pay 774 million e
Published 30 Oct, 2013 12:00am
Thomson Reuters to trim 4,500 jobs

Thomson Reuters to trim 4,500 jobs

The global financial information group Thomson Reuters said Tuesday it would cut some 4,500 jobs in its finance operations by the end of 2014 after reporting a drop in profits. The cuts, outlined in documents accompanying its quarterly results, are deeper
Published 30 Oct, 2013 12:00am
Dutch Rabobank fined $1 billion over Libor scandal

Dutch Rabobank fined $1 billion over Libor scandal

US and European regulators have fined Dutch lender Rabobank $1 billion for rigging benchmark interest rates, making it the fifth bank punished in a scandal that has helped to shred faith in the industry. Rabobank said on Tuesday it would pay 774 million e
Published 30 Oct, 2013 12:00am
India's central bank hikes key interest rate

India's central bank hikes key interest rate

India's new central bank governor raised the key interest rate Tuesday for a second straight month, disregarding calls for lower borrowing costs as he stays focused on battling high inflation. After its monetary policy meeting in the financial capital Mum
Published 30 Oct, 2013 12:00am
Dutch Rabobank fined $1 billion over Libor scandal

Dutch Rabobank fined $1 billion over Libor scandal

US and European regulators have fined Dutch lender Rabobank $1 billion for rigging benchmark interest rates, making it the fifth bank punished in a scandal that has helped to shred faith in the industry. Rabobank said on Tuesday it would pay 774 million e
Published 30 Oct, 2013 12:00am
Dell completes deal to go private

Dell completes deal to go private

US computer giant Dell announced Tuesday it had completed the deal to go private in a $24.9 billion buyout led by company founder Michael Dell. "Today, Dell enters an exciting new chapter as a private enterprise," Michael Dell said in a statement. "Our 11
Published 30 Oct, 2013 12:00am
Dutch Rabobank fined $1 billion over Libor scandal

Dutch Rabobank fined $1 billion over Libor scandal

US and European regulators have fined Dutch lender Rabobank $1 billion for rigging benchmark interest rates, making it the fifth bank punished in a scandal that has helped to shred faith in the industry. Rabobank said on Tuesday it would pay 774 million e
Published 30 Oct, 2013 12:00am
Dell completes deal to go private

Dell completes deal to go private

US computer giant Dell announced Tuesday it had completed the deal to go private in a $24.9 billion buyout led by company founder Michael Dell. "Today, Dell enters an exciting new chapter as a private enterprise," Michael Dell said in a statement. "Our 11
Published 30 Oct, 2013 12:00am
Obama may ban US intelligence collection on allied leaders

Obama may ban US intelligence collection on allied leaders

President Barack Obama may ban US spying on allied leaders as part of a review of intelligence gathering, a senior Obama administration official said on Tuesday amid a diplomatic uproar over the National Security Agency's surveillance ability. A week afte
Published 30 Oct, 2013 12:00am
US to slap fine on Indian outsourcing firm Infosys

US to slap fine on Indian outsourcing firm Infosys

The US government plans to punish Indian outsourcing giant Infosys with the largest immigration fine ever for seeking visas fraudulently for workers at big clients in America, the Wall Street Journal reported Tuesday. Infosys is accused of putting workers
Published 30 Oct, 2013 12:00am
Obama may ban US intelligence collection on allied leaders

Obama may ban US intelligence collection on allied leaders

President Barack Obama may ban US spying on allied leaders as part of a review of intelligence gathering, a senior Obama administration official said on Tuesday amid a diplomatic uproar over the National Security Agency's surveillance ability. A week afte
Published 30 Oct, 2013 12:00am
Hungary cuts base interest rate to record low 3.40 percent

Hungary cuts base interest rate to record low 3.40 percent

Hungary's central bank (MNB) cut its main interest rate Tuesday to a record low level of 3.40 percent from 3.60 percent, the 15th monthly cut in a row. The move, which continues an easing cycle begun in August 2012 when the rate was 7.0 percent, was widel
Published 30 Oct, 2013 12:00am
Iran says four rebels killed in fresh clash

Iran says four rebels killed in fresh clash

Iranian security forces have killed in a fresh clash four members of an extremist rebel group behind an attack that left 14 Iranian border guards dead, a top border guard commander said Tuesday. "We clashed with Jaish-ul Adl and killed four of them," the
Published 30 Oct, 2013 12:00am
Housing shortage poses a dilemma for Kuwait

Housing shortage poses a dilemma for Kuwait

Kuwait, one of the world's richest countries per capita, must make tackling a shortage of government-funded housing its top priority, officials in the Gulf Arab state said at the opening of parliament on Tuesday. Accustomed to a welfare state which is gen
Published 30 Oct, 2013 12:00am
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