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Print - 2014-04-14
"Great Stretch" to secure Greek debt return

"Great Stretch" to secure Greek debt return

Call it the Great Stretch. Two years ago, Greece's debt crisis almost brought the euro zone crashing down. Now European partners are preparing to ease Athens' debt burden without writing off their loans but by stretching them out into the distant future,
Published 14 Apr, 2014 12:00am
Democracy still in its infancy

Democracy still in its infancy

The Chief of Army Staff General Raheel Sharif's statement on Monday, a little over five months after he was appointed, that "Pakistan army upholds the sanctity of all institutions and will resolutely preserve its own dignity and institutional pride" has f
Published 14 Apr, 2014 12:00am
Security versus rights

Security versus rights

It's now more or less settled that our legal system as it obtains falls short of the desired capacity and capability to effectively cope with the rising tide of lawlessness and violence. With most of the criminal laws being short on scope of their applica
Published 14 Apr, 2014 12:00am
Revenue increase lower

Revenue increase lower

A Business Recorder exclusive indicates that the 17 percent increase in tax collections in March 2014 is 6 percent lower than the rise in tax collections in March of 2013. Federal Finance Minister Ishaq Dar has repeatedly cited the percentage rise
Published 14 Apr, 2014 12:00am
At least 36 dead in Mexico bus crash: official

At least 36 dead in Mexico bus crash: official

A bus slammed into the back of a badly parked trailer-truck and burst into flames in Mexico Sunday, killing at least 36 people and injuring four others, authorities said. Most of the roof and tires of the bus were reduced to ashes by the highway accident
Published 14 Apr, 2014 12:00am
Macedonians vote for president in test for ruling party

Macedonians vote for president in test for ruling party

Macedonians voted for a new president Sunday in the polls seen as a test for the ruling party in the landlocked Balkan country and its path towards EU and Nato membership. The vote for the largely ceremonial presidential post is seen as a bellwether for t
Published 14 Apr, 2014 12:00am
Israel police, Palestinians clash at Al-Aqsa compound

Israel police, Palestinians clash at Al-Aqsa compound

Five people were arrested after Palestinians and Israeli police clashed at the flashpoint Al-Aqsa mosque compound in Jerusalem's Old City on Sunday, police said. Police spokesman Micky Rosenfeld said the violence erupted when police opened one of the wall
Published 14 Apr, 2014 12:00am
Israel allows settlers back into contested West Bank home

Israel allows settlers back into contested West Bank home

Israeli Defence Minister Moshe Yaalon on Sunday approved the return of Jewish settlers to a contested house in the flashpoint West Bank city of Hebron, his office said. The supreme court ruled last month that settlers were the lawful owners of the buildin
Published 14 Apr, 2014 12:00am
At least 10 dead in Dar es Salaam flooding

At least 10 dead in Dar es Salaam flooding

At least 10 people have died in heavy floods in Tanzania's commercial capital of Dar es Salaam, officials said Sunday. The city's regional commissioner, Said Mecky Sadick, said the toll may rise with roads damaged and several bridges swept away. "The vict
Published 14 Apr, 2014 12:00am
Iran scraps plan to send warships to Atlantic

Iran scraps plan to send warships to Atlantic

Iran has called off a deployment of warships to the Atlantic Ocean, the semi-official Fars news agency said on Sunday, shelving plans for its vessels to approach US maritime borders in response to the US navy's presence in the Gulf.
Published 14 Apr, 2014 12:00am
Iran needs 30,000 new centrifuges for fuel: official

Iran needs 30,000 new centrifuges for fuel: official

Iran will need 30,000 of its new generation centrifuges to meet domestic fuel demands, far more than the current number, its nuclear chief said Sunday. Ali Akbar Salehi's comments came just days after the latest round of international talks in Vienna aime
Published 14 Apr, 2014 12:00am
Row over Iran UN pick not impacting nuclear talks: US

Row over Iran UN pick not impacting nuclear talks: US

The United States' refusal to issue a visa to Iran's pick for UN ambassador is not impacting talks over the country's disputed nuclear program, Washington's envoy to the United Nations said Sunday. Washington has said it won't issue a visa to newly appoin
Published 14 Apr, 2014 12:00am
German tank sale to Saudi Arabia likely to be cancelled

German tank sale to Saudi Arabia likely to be cancelled

A sale of several hundred German battle tanks to Saudi Arabia is likely to be cancelled because of opposition from Social Democrat Economy Minister Sigmar Gabriel, a German newspaper reported on Sunday.
Published 14 Apr, 2014 12:00am
German space research centre under espionage attack

German space research centre under espionage attack

Germany's aeronautics and space research centre has for months been the target of a suspected cyber attack by a foreign intelligence service, a German news weekly reported Sunday. Der Spiegel said that several computers used by scientists and systems admi
Published 14 Apr, 2014 12:00am
PTV, CCTV sign MoU for co-operation

PTV, CCTV sign MoU for co-operation

The Chinese Central Television (CCTV) and Pakistan Television Corporation Ltd, signed a Memorandum of Understanding (MoU) on mutual co-operation in the field of broadcasting here that would enable CCTV News and CCTV 9 documentary channel landing rights in
Published 14 Apr, 2014 12:00am
Residents protest against loadshedding

Residents protest against loadshedding

Thousands of residents of Besham, district Shangla took Karakorum Highway to protest the lack of provision of electricity from Khan Khwar power projects and closure of power supply from the electricity feeder.
Published 14 Apr, 2014 12:00am
KP government focusing on preventive side of healthcare: Tarakai

KP government focusing on preventive side of healthcare: Tarakai

Senior Minister Khyber Pakhtunkhwa, Shahram Khan Tarakai, has said that the government was shifting its focus on the preventive side in terms of delivery of healthcare services. Moreover, the government was making efforts to integrate immunisation service
Published 14 Apr, 2014 12:00am
Sword of Damocles hangs over PIA

Sword of Damocles hangs over PIA

Sword of Damocles hangs over national carrier, Pakistan International Airlines. The reason, its sloppy flight operations which may result in ban to operate flights to France and suspension of its flights on non-payment of long outstanding dues to General
Published 14 Apr, 2014 12:00am
Funeral prayers of martyred constable offered

Funeral prayers of martyred constable offered

The funeral prayer of Constable Zaheer Saqib was offered at Police Lines here on Sunday. Zaheer Saqib was shot dead by robbers at IJ Principal Road in Sabzi Mandi area. He tried to arrest the accused, who had snatched a mobile and cash from one Muhammad Y
Published 14 Apr, 2014 12:00am
Backup to police stations: reserved platoons be kept alert: IG

Backup to police stations: reserved platoons be kept alert: IG

Inspector General (IG) Sindh Police, Iqbal Mehmood Sunday called for keeping reserved platoons alert at the police headquarters for providing backup support to police stations in the wake of the ongoing targeted action against criminals in Karachi.
Published 14 Apr, 2014 12:00am
One man shot dead in city

One man shot dead in city

One person was killed in a shooting incident in metropolis here on Sunday. According to police and rescue sources, Badruddin,50, son of Meeruddin, was shot and killed by unknown motorcyclists near 11-D area, New Karachi in the jurisdiction of New Karachi
Published 14 Apr, 2014 12:00am
Seven killed, six injured in a road accident

Seven killed, six injured in a road accident

At least seven people including children lost their lives and six other sustained injuries when a speedy dumper hit a parked coaster on Indus Highway at Lakki Shah Saddar near Sehwan on Sunday. According to in-charge Edhi Foundation Hyderabad, the driver
Published 14 Apr, 2014 12:00am
'Sustained efforts needed to increase exports'

'Sustained efforts needed to increase exports'

The President Hyderabad Chamber of Commerce & Industry (HCCI),.Gohar Ullah, in a briefing to media said that Prime Minister, Main Muhammad Nawaz Sharif, has appointed a prominent industrialist. SM.Munir as Chairman of Trade Development Authority of Pakist
Published 14 Apr, 2014 12:00am
China, India face huge cancer burden

China, India face huge cancer burden

China and India are facing a cancer crisis, with smoking, belated diagnosis and unequal access to treatment all causing large-scale problems, experts said on April 11. In a major report, published in The Lancet Oncology, more than 40 specialists warn that
Published 14 Apr, 2014 12:00am
Farming emissions to rise 30 percent by 2050

Farming emissions to rise 30 percent by 2050

Greenhouse gases emitted by agriculture are on track to rise by 30 percent by mid-century, driven especially by livestock and use of fertiliser, a UN agency reported on April 11. "Global agricultural emissions are projected to increase in 2030 and 2050 by
Published 14 Apr, 2014 12:00am
Global warming not taken seriously: Kim

Global warming not taken seriously: Kim

Global warming is not being taken seriously and time is running out to avoid consequences like flooded cities and dried out farmland, World Bank President Jim Yong Kim said on April 10. "We are quickly coming to the point where we are not going to be able
Published 14 Apr, 2014 12:00am
Carbon cuts possible for manageable warming: UN experts

Carbon cuts possible for manageable warming: UN experts

The world, acting urgently, can curb carbon emissions enough to avert worst-case scenarios for climate change, UN experts said on April 07 as envoys met in Berlin to weigh the options for action.
Published 14 Apr, 2014 12:00am
Ebola outbreak among 'most challenging' ever

Ebola outbreak among 'most challenging' ever

West Africa's Ebola outbreak is among the "most challenging" ever to strike since the disease emerged four decades ago, the WHO said on April 08, as the suspected death toll from the virus hit 111. Keiji Fukuda, assistant director-general of the World Hea
Published 14 Apr, 2014 12:00am
Gene clue opens paths to treat child brain cancer

Gene clue opens paths to treat child brain cancer

Genetic mutations found in brain tumours in children have opened up intriguing avenues to tackle this lethal form of cancer, researchers said on April 07. Investigators found telltale mutations in a gene called ACVR1, which appears to play a role in a cur
Published 14 Apr, 2014 12:00am
'Global push to treat hepatitis C'

'Global push to treat hepatitis C'

The World Health Organisation called on April 09 for a dramatic increase in screening and treatment of hepatitis C, saying higher demand would help drive down the cost of drugs for the disease. Most of the 185 million people chronically infected with the
Published 14 Apr, 2014 12:00am
Lab clue to caffeine benefit on Alzheimer's disease

Lab clue to caffeine benefit on Alzheimer's disease

French and German researchers on April 09 said they had found evidence in the lab to back theories that drinking caffeine has a preventive effect on Alzheimer's disease. In mice, regular doses of caffeine inhibited the growth of tau, a protein that clogs
Published 14 Apr, 2014 12:00am
Wildlife still suffers four years after BP oil spill

Wildlife still suffers four years after BP oil spill

Birds, fish, dolphins and turtles are still struggling in the Gulf of Mexico, four years after the worst oil spill in US history, a leading wildlife group said on April 08. The 2010 BP spill spewed 4.9 million barrels of oil into the waters off Louisiana,
Published 14 Apr, 2014 12:00am
A toolbox on your USB stick: how portable apps work

A toolbox on your USB stick: how portable apps work

Put too much software on your computer, and you run the risk of slowing it down. That's especially annoying if the problem is caused by rarely used programmes. But there's a solution: start such programmes up from a USB stick. Such portable apps don't nee
Published 14 Apr, 2014 12:00am
End of Windows XP era arrives with warnings of doom

End of Windows XP era arrives with warnings of doom

Thirteen years after introducing Windows XP to the world, Microsoft is pulling the plug on the popular PC operating system Tuesday raising fears of a so-called "XPocalypse" of bugs, viruses and malware among the millions who still rely on the ageing softw
Published 14 Apr, 2014 12:00am
Dropbox out to be a home in the Internet 'cloud'

Dropbox out to be a home in the Internet 'cloud'

Dropbox is out to be the hip home in the cloud for photos, documents, video and other digital possessions amassed by Internet-age lifestyles. Dropbox on April 9 ramped up services for sharing and collaborating on virtual belongings ranging from Excel spre
Published 14 Apr, 2014 12:00am
Data storage pioneer wins Finnish tech prize

Data storage pioneer wins Finnish tech prize

A computer scientist whose work paved the way for the storage of vast amounts of digitised information key to social networks and cloud services was honoured with the 1-million-euro (1.37-million-dollar) Finnish Millennium Technology Prize Wednesday.
Published 14 Apr, 2014 12:00am
Amazon to release smartphone later this year: report

Amazon to release smartphone later this year: report

Amazon is preparing to release a smartphone in the second half of 2014, thrusting itself into a market already crowded with Apple and Samsung models, The Wall Street Journal reported April 12. The company aims to announce its new product by the end of Jun
Published 14 Apr, 2014 12:00am
Qualcomm talks up future top-tier smartphone chip

Qualcomm talks up future top-tier smartphone chip

Qualcomm gave details on April 7 about a future high-end smartphone chip, including faster download speeds as well as 64-bit technology, which is quickly becoming standard. Due to appear in smartphones in 2015, the Snapdragon 810 is Qualcomm's latest bid
Published 14 Apr, 2014 12:00am
Wearable tech gaining momentum: survey

Wearable tech gaining momentum: survey

Wearable tech is moving beyond a small group of early adopters and going mainstream. That's the conclusion of market tracker IDC, which predicted sales of wearable tech items would triple this year to 19 million units world-wide, growing to 111.9 million
Published 14 Apr, 2014 12:00am
Facebook to require separate mobile app for messages

Facebook to require separate mobile app for messages

Facebook Inc will no longer let users send and receive private messages within its main smartphone app, and will require that users install a separate messaging app, the Internet company said on April 9. Facebook began notifying users in France, England a
Published 14 Apr, 2014 12:00am
Facebook hits 100 million India users, largest after US

Facebook hits 100 million India users, largest after US

Facebook has hit more than 100 million users in India, only the second country after the United States to achieve the milestone, the social networking company said on April 9. The fast-expanding mobile smartphone market is driving growth in India along wi
Published 14 Apr, 2014 12:00am
Twitter profiles get Facebook-style revamp

Twitter profiles get Facebook-style revamp

Twitter on April 8 began revamping profile pages to let users display more of their online personalities, giving the popular service a Facebook-like feel. "The new web profile lets you use a larger profile photo, customise your header, show off your best
Published 14 Apr, 2014 12:00am
Twitter buys Android lock-screen startup Cover

Twitter buys Android lock-screen startup Cover

A young startup specialising in Android smartphone lock screens that anticipate what "app" a user might want at any give moment said April 7, it has been bought by Twitter. The acquisition comes about a year after the launch of Cover, which said its free
Published 14 Apr, 2014 12:00am
Microsoft to punish Xbox One anti-social behaviour

Microsoft to punish Xbox One anti-social behaviour

The days when gamers could behave without fear of consequences are coming to an end for the XBox One. Microsoft plans to install a ratings system based on traffic lights, with green indicating players with a good reputation, while yellow and red indicate
Published 14 Apr, 2014 12:00am
Newest Android version can cause keyboard problems

Newest Android version can cause keyboard problems

Updating to the current version of Android (4.4/KitKat) can give you a scare by shutting down certain apps on your smartphone, reports German telecommunications website Teltarif.de. Users of alternative-keyboard apps will often have to reactivate them in
Published 14 Apr, 2014 12:00am
Wal-Mart plans 50 more India wholesale outlets

Wal-Mart plans 50 more India wholesale outlets

Wal-Mart Stores Inc on April 08 announced plans to open 50 more wholesale outlets in India and start online operations to sell to small shopkeepers, several months after it decided against opening its own retail stores there. The world's largest retailer
Published 14 Apr, 2014 12:00am
Honeywell names two vice chairmen, CFO in management shuffle

Honeywell names two vice chairmen, CFO in management shuffle

Honeywell International Inc promoted two executives to the position of vice chairman and named a new chief financial officer as part of a series of senior leadership changes announced by the US diversified manufacturer on April 07. The management shuffle
Published 14 Apr, 2014 12:00am
Honeywell names two vice chairmen, CFO in management shuffle

Honeywell names two vice chairmen, CFO in management shuffle

Honeywell International Inc promoted two executives to the position of vice chairman and named a new chief financial officer as part of a series of senior leadership changes announced by the US diversified manufacturer on April 07. The management shuffle
Published 14 Apr, 2014 12:00am
Alcoa reports fall in first quarter adjusted profit

Alcoa reports fall in first quarter adjusted profit

Alcoa Inc reported a decline in first quarter adjusted profit on April 08 as aluminium prices dropped. But earnings came in ahead of analysts' expectations, and the aluminium producer's shares rose in trading after the bell. After-tax operating income ros
Published 14 Apr, 2014 12:00am
HTC posts losses of $60 million as sales hit five-year low

HTC posts losses of $60 million as sales hit five-year low

Taiwan's struggling smartphone maker HTC posted a net loss of Tw$1.88 billion ($62.3 million) in the first quarter, a figure far worse than the Tw$1.59 billion analysts forecast. Sales in the three months (January to March) fell to five-year low of Tw$33.
Published 14 Apr, 2014 12:00am
HTC posts losses of $60 million as sales hit five-year low

HTC posts losses of $60 million as sales hit five-year low

Taiwan's struggling smartphone maker HTC posted a net loss of Tw$1.88 billion ($62.3 million) in the first quarter, a figure far worse than the Tw$1.59 billion analysts forecast. Sales in the three months (January to March) fell to five-year low of Tw$33.
Published 14 Apr, 2014 12:00am
Scotiabank focuses on Latin America growth: CEO

Scotiabank focuses on Latin America growth: CEO

Bank of Nova Scotia has shifted its growth focus away from Asia, and will instead drive expansion in four Latin American countries as the bank seeks to focus on "fewer things," Chief Executive Brian Porter said on April 08. The Canadian bank, which operat
Published 14 Apr, 2014 12:00am
Nakheel reports 28 percent rise in first quarter net profit

Nakheel reports 28 percent rise in first quarter net profit

Dubai property developer Nakheel reported a 28 percent increase in first-quarter net profit on April 09. The government-owned company made a net profit of 629 million dirhams ($171.3 million) in the first three months of the year, up from 491 million dirh
Published 14 Apr, 2014 12:00am
Cheap funding costs a boon for French firms

Cheap funding costs a boon for French firms

As economic prospects in Western Europe improve, French companies whose shares are still reeling from the euro zone debt crisis are enjoying rock-bottom financing costs, a boost to their bottom lines that has yet to be fully reflected in their stock price
Published 14 Apr, 2014 12:00am
Atletico, Tendulkar and Ganguly among owners of new Indian league

Atletico, Tendulkar and Ganguly among owners of new Indian league

Leading Spanish club Atletico Madrid and former cricketers Sachin Tendulkar and Sourav Ganguly are among the owners of eight franchises of a new Indian soccer league set to kick off later this year, organisers said on Sunday. La Liga leaders Atletico and
Published 14 Apr, 2014 12:00am
Plans dropped for explosive Commonwealth Games opening

Plans dropped for explosive Commonwealth Games opening

Organisers of the Glasgow Commonwealth Games on Sunday announced they had cancelled plans to blow up five of the city's iconic tower blocks as part of the July opening ceremony following a backlash. More than 17,000 people signed an online petition protes
Published 14 Apr, 2014 12:00am
Hull fightback clinches Cup final berth

Hull fightback clinches Cup final berth

Hull City staged a stirring second half fightback to book their first FA Cup final appearance with a thrilling 5-3 win over Sheffield United at Wembley on Sunday. Steve Bruce's side survived a stern test from the League One underdogs in a sensational semi
Published 14 Apr, 2014 12:00am
IOC welcomes Saudi Arabia end to girls' sports ban

IOC welcomes Saudi Arabia end to girls' sports ban

The International Olympic Committee on Sunday urged the Saudi government to push forward with moves to lift a ban on sports in girls' state schools. The conservative Muslim kingdom's consultative Shura Council last week recommended an end to the ban, whic
Published 14 Apr, 2014 12:00am
Cornet wins fourth career title in Poland

Cornet wins fourth career title in Poland

France's Alize Cornet won her fourth career title on Sunday when she saved a match point on her way to a 7-6 (7/3), 5-7, 7-5 victory over Italy's Camila Giorgi in the Katowice final. Cornet, the world 22, added the Poland title to trophies at Budapest in
Published 14 Apr, 2014 12:00am
Badminton: Santoso shocks Lee to win Singapore Open

Badminton: Santoso shocks Lee to win Singapore Open

Unseeded Indonesian Simon Santoso pulled off a major shock when he thrashed badminton's world number one Lee Chong Wei to win the Singapore Open for the first time on Sunday. The 28-year-old, considered a rank outsider against Malaysia's imperious Lee, up
Published 14 Apr, 2014 12:00am
Liverpool on top as Chelsea stay in title hunt

Liverpool on top as Chelsea stay in title hunt

Liverpool maintained their charge for a first English championship of the Premier League era with a thrilling 3-2 win over title rivals Manchester City at an emotional Anfield on Sunday, where fans marked the 25th anniversary of the Hillsborough disaster.
Published 14 Apr, 2014 12:00am
Irie beats Hagino again to show who's the boss

Irie beats Hagino again to show who's the boss

London Olympic triple medallist Ryosuke Irie edged up-and-coming all-rounder Kosuke Hagino Sunday for the second time at the Japanese swimming championships to reassert his supremacy in the backstroke. Irie, who beat Hagino into second spot in Friday's 10
Published 14 Apr, 2014 12:00am
Pacquiao avenges loss to Bradley

Pacquiao avenges loss to Bradley

Manny Pacquiao avenged a polarizing loss to Timothy Bradley and regained the World Boxing Organisation welterweight world title Saturday with a 12-round unanimous decision over the previously unbeaten American. The Filipino ring icon improved to 56-5 with
Published 14 Apr, 2014 12:00am
Kipsang sets London Marathon record

Kipsang sets London Marathon record

World record-holder Wilson Kipsang won the men's London Marathon in a course record two hours, four minutes and 29 seconds on Sunday as Britain's Mo Farah found life tough on his debut over the distance. Kipsang's smashed the previous London record of 2hr
Published 14 Apr, 2014 12:00am
EU to approve bank rules before May election slows legislative machine

EU to approve bank rules before May election slows legislative machine

The European Union will sign off on a slew of major reforms this week to allow failing banks to be wound down without public money, clearing its desk before elections in May that may lead to a slower pace of legislation. This week is the final plenary ses
Published 14 Apr, 2014 12:00am
Kuwait's NBK first quarter net profit up 3.2 percent

Kuwait's NBK first quarter net profit up 3.2 percent

National Bank of Kuwait, the Gulf Arab state's largest commercial lender, reported a 3.2 percent rise in first-quarter net profit on Sunday, edging ahead of analysts' expectations. Net profit was 83.9 million dinars ($298.6 million) in the three months to
Published 14 Apr, 2014 12:00am
New UAE law to award 10 percent of government contracts to SMEs

New UAE law to award 10 percent of government contracts to SMEs

Planned United Arab Emirates legislation aiming to boost the growth of small and medium-sized enterprises will require 10 percent of future federal government contracts to be awarded to SMEs, the economy minister said on Sunday.
Published 14 Apr, 2014 12:00am
Allianz eyes more investments in shares

Allianz eyes more investments in shares

Germany's Allianz, the world's largest insurance company, plans to increase its investments in shares and infrastructure as it seeks higher returns in a low interest-rate environment, a German newspaper reported. Allianz Chief Executive Michael Diekmann w
Published 14 Apr, 2014 12:00am
Saudi's Al Rajhi Bank first quarter earnings slip again

Saudi's Al Rajhi Bank first quarter earnings slip again

Al Rajhi Bank reported a slump in net profit for the first three months of 2014 on Sunday, marking the second quarter in a row that Saudi Arabia's largest listed lender has posted a big decline in earnings. The bank made 1.71 billion riyals ($456 million)
Published 14 Apr, 2014 12:00am
Shell, BP sign 5-6 year LNG supply deals with Kuwait

Shell, BP sign 5-6 year LNG supply deals with Kuwait

Royal Dutch Shell and BP have signed deals to supply Kuwait with liquefied natural gas (LNG) over the next few years, a Kuwait Petroleum Corp (KPC) official was quoted as saying on Sunday. Kuwait began importing LNG in 2009 and signed deals for Shell and
Published 14 Apr, 2014 12:00am
Europe's top banks cut 80,000 more staff in post-crisis overhaul

Europe's top banks cut 80,000 more staff in post-crisis overhaul

Europe's largest banks cut their staff by another 3.5 percent last year and the prospect of a return to pre-crisis employment levels seems far off, despite the region's fledgling economic recovery. Spurred into action by falling revenue, mounting losses a
Published 14 Apr, 2014 12:00am
Egypt to introduce smart card for subsidised bread by July

Egypt to introduce smart card for subsidised bread by July

Egypt will introduce a smart card system for subsidised bread nation-wide by July, in an attempt to curb corruption and smuggling, Supplies Minister Khaled Hanafi said on Sunday. A pilot scheme was launched in the Suez Canal city of Port Said on Sunday an
Published 14 Apr, 2014 12:00am
Protest in Athens against Sunday shopping

Protest in Athens against Sunday shopping

Police in Athens scuffled with protesters opposed to shops opening on Sunday, a week before Orthodox Easter. The incident occurred on the capital's main shopping street. Several dozen protesters had unfurled banners in front of businesses, urging people t
Published 14 Apr, 2014 12:00am
Chinese group acquires Britain's House of Fraser

Chinese group acquires Britain's House of Fraser

Chinese conglomerate Sanpower has agreed to buy a majority stake in British department store House of Fraser in a deal worth £480 million (578 million euros, $800 million), according to a joint statement. Sanpower, a Nanjing-based conglomerate listed on t
Published 14 Apr, 2014 12:00am
Chinese group acquires Britain's House of Fraser

Chinese group acquires Britain's House of Fraser

Chinese conglomerate Sanpower has agreed to buy a majority stake in British department store House of Fraser in a deal worth £480 million (578 million euros, $800 million), according to a joint statement. Sanpower, a Nanjing-based conglomerate listed on t
Published 14 Apr, 2014 12:00am
Sawiris says ready to invest $1-2 billion in Telecom Italia

Sawiris says ready to invest $1-2 billion in Telecom Italia

Egyptian billionaire Naguib Sawiris is ready to invest $1 to $2 billion in Telecom Italia if its biggest shareholder Telefonica pulled out from the Italian phone group, according to newspaper Il Sole 24 Ore, Sawiris, who unsuccessfully attempted to buy a
Published 14 Apr, 2014 12:00am
Greece to issue more bonds after sale success

Greece to issue more bonds after sale success

Greece will issue more bonds after last week's successful five-year debt sale that ended a four-year drought, the head of the debt agency said Sunday. "The bond sale was just the first step," Stelios Papadopoulos, head of the public debt management agency
Published 14 Apr, 2014 12:00am
Greece to issue more bonds after sale success

Greece to issue more bonds after sale success

Greece will issue more bonds after last week's successful five-year debt sale that ended a four-year drought, the head of the debt agency said Sunday. "The bond sale was just the first step," Stelios Papadopoulos, head of the public debt management agency
Published 14 Apr, 2014 12:00am
Brazil's Bovespa, Mexico's IPC to eke out 2014 gains

Brazil's Bovespa, Mexico's IPC to eke out 2014 gains

After performing miserably over the past year, Brazil's Bovespa index should move higher alongside a global economic recovery, a Reuters poll showed on Thursday, while Mexican shares will likely recover as market reforms take effect.
Published 14 Apr, 2014 12:00am
Ally Financial shares fall in debut

Ally Financial shares fall in debut

Shares of auto-lender Ally Financial Inc fell as much as 3.8 percent in their market debut on Thursday, taking the shine off the biggest US IPO so far this year as investor appetite for big stock offerings shows signs of waning. Ally also has issues of it
Published 14 Apr, 2014 12:00am
Nasdaq vertigo warns bubbly global markets

Nasdaq vertigo warns bubbly global markets

The Nasdaq is suffering from vertigo. The technology-heavy exchange's leading index has tumbled 6 percent in a month. Some leading Chinese internet stocks have fallen by much more. Deals are being delayed. In 2000, the reversal of the high-flying sector m
Published 14 Apr, 2014 12:00am
Wall Street week ahead: stocks face earnings blues after tech slide

Wall Street week ahead: stocks face earnings blues after tech slide

The wrenching selloff in US high-growth technology and biotech shares could leave investors braced for more than a minor pullback when earnings pick up speed this week. First-quarter earnings estimates have fallen sharply as many companies have blamed the
Published 14 Apr, 2014 12:00am
CEE currencies seen firming after short-term retreat

CEE currencies seen firming after short-term retreat

Central Europe's economic recovery should strengthen the region's main currencies by about 2 percent against the euro in the next 12 months, a monthly Reuters poll of analysts showed on Wednesday. Contagion from Ukraine's turmoil remains a risk, but fairl
Published 14 Apr, 2014 12:00am
Watson IPO likely in Hong Kong

Watson IPO likely in Hong Kong

The initial public offering of retailer A.S. Watson Co will likely happen this year with Hong Kong as one of the venues for the planned dual listing, billionaire Li Ka-shing said on Friday. The 85-year-old tycoon has been reviewing strategy options for Wa
Published 14 Apr, 2014 12:00am
Canadian dollar's respite from slide unlikely to last

Canadian dollar's respite from slide unlikely to last

The Canadian dollar's respite from recent heavy selling will only be temporary as a sluggish domestic economy and a dovish central bank stance are expected to drag the currency lower, a Reuters poll released on Wednesday showed. Investors dumped the curre
Published 14 Apr, 2014 12:00am
Saudi bourse changes closing price calculation for shares

Saudi bourse changes closing price calculation for shares

Saudi Arabia's stock exchange introduced on Sunday a new method for calculating the closing prices of traded shares, to limit excessive speculation and manipulation in the Gulf Arab region's largest stock market.
Published 14 Apr, 2014 12:00am
Gulf markets succumb to profit-taking after bumper week

Gulf markets succumb to profit-taking after bumper week

Most stock markets in the Gulf fell on Sunday as investors booked profits after a particularly strong week and Saudi Arabia's Al Rajhi Bank published first-quarter earnings that missed analysts' estimates. Dubai's bourse retreated 1.7 percent to 4,759 poi
Published 14 Apr, 2014 12:00am
Malaysia says no mid-flight phone call from MH370 cockpit

Malaysia says no mid-flight phone call from MH370 cockpit

Malaysia on Sunday rejected claims that phone calls were made from Flight MH370 before it vanished, but refused to rule out any possibility in a so far fruitless investigation into the jet's disappearance. The New Straits Times, quoting an anonymous sourc
Published 14 Apr, 2014 12:00am
Guinea-Bissau votes in watershed elections

Guinea-Bissau votes in watershed elections

Guinea-Bissau held watershed presidential and parliamentary elections Sunday aimed at ushering in a new era of stability in a country plagued by drugs and upended by a military coup. The polls cap four decades of chaos marked by a series of mutinies since
Published 14 Apr, 2014 12:00am
South Korea, Japan to hold rare official talks on 'comfort women'

South Korea, Japan to hold rare official talks on 'comfort women'

Senior South Korean and Japanese officials will meet this week to discuss Japan's wartime sexual enslavement of Korean women, South Korea's Ministry of Foreign Affairs said on Sunday. Ties between the two close US allies have long been poisoned by what So
Published 14 Apr, 2014 12:00am
Libya's Prime Minister quits, says was victim of 'traitorous' attack

Libya's Prime Minister quits, says was victim of 'traitorous' attack

Libya's prime minister Abdullah al-Thani stepped down on Sunday, saying he and his family had been the victims of a "traitorous" armed attack the previous day. Thani quit less than a week after parliament tasked him with forming a new cabinet and a month
Published 14 Apr, 2014 12:00am
Syrian planes hit rebel bastions in Damascus province: NGO

Syrian planes hit rebel bastions in Damascus province: NGO

Syrian warplanes on Sunday launched an offensive against a string of opposition bastions on the edges of the capital, including the besieged Eastern Ghouta area, a monitoring group said. "Warplanes carried out two air strikes against areas of Douma," nort
Published 14 Apr, 2014 12:00am
War turning in regime's favour, says Assad

War turning in regime's favour, says Assad

President Bashar al-Assad said Sunday the three-year war tearing Syria apart is turning in the government's favour, state television reported. "This is a turning point in the crisis, both militarily in terms of the army's achievements in the war against t
Published 14 Apr, 2014 12:00am
Japan confirms first bird flu case since 2011

Japan confirms first bird flu case since 2011

Two chickens have tested positive for avian influenza at a farm in Japan where more than 1,000 chickens have died, marking the country's first case of bird flu in three years, the Agricultural Ministry said on Sunday. The highly pathogenic H5 virus was de
Published 14 Apr, 2014 12:00am
Foreigner dies of MERS in Saudi Arabia

Foreigner dies of MERS in Saudi Arabia

A foreigner has died from MERS while eight people including five health workers have been infected in the Saudi city of Jeddah, where the spread of the coronavirus among medics has sparked panic. The death of the 45-year-old man, whose nationality has not
Published 14 Apr, 2014 12:00am
UK's anti-EU party hits new high in poll ahead of Europe vote

UK's anti-EU party hits new high in poll ahead of Europe vote

Voter support for Britain's anti-European Union UK Independence Party (UKIP) is at a record high according to one opinion poll on Sunday, reflecting a wider pattern of growing support for the party ahead of European elections next month.
Published 14 Apr, 2014 12:00am
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