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Print - 2014-07-21
The Weather

The Weather

The weather report on Sunday (July 20, 2014) and the forecast for Sunday (July 20, 2014).

Published 21 Jul, 2014 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week.(July 14 to 18, 2014).

Published 21 Jul, 2014 12:00am
Downing of Malaysian airliner

Downing of Malaysian airliner

Apropos 'Downing of Malaysian airliner: Crisis grows as Obama points to [pro-Russia] separatists' carried by Business Recorder on Saturday, the ongoing Ukraine crisis seems to have acquired a highly dangerous dimension. As per media reports, US Pre
Published 21 Jul, 2014 12:00am
Metrobus: is it a fantasy? - II

Metrobus: is it a fantasy? - II

There is controversy over Metrobus projects launched by the PML (N) government; Metrobus Lahore with a pejorative naming of Jungla bus is working well reportedly. There is another similar project in the pipeline connecting the twin cities of Pindi and Isl
Published 21 Jul, 2014 12:00am
IMF third review: State of the economy

IMF third review: State of the economy

This is the first of a two part series analyzing the IMF third staff report as well as the Letter of Intent submitted by the government. Next week's article would focus on provincial surplus as a means to meet the budget deficit target and new structural
Published 21 Jul, 2014 12:00am
Crime and punishment

Crime and punishment

The unrelenting incidence of terrorism besetting Pakistan has been invariably described as an existential threat to our national independence. It has taken the toll of thousands of innocent lives, ruined national economy, and turned Pakistan into a forbid
Published 21 Jul, 2014 12:00am
BRICS by brick

BRICS by brick

History appeared to be in the making when the leaders of Brazil, Russia, India, China and South Africa, commonly known as BRICS, on 15th July, 2014 agreed in Portaleza to create a Shanghai-based Development Bank and a Reserve Fund, seen as counterweights
Published 21 Jul, 2014 12:00am
Motorcycles parked inside JPMC cause patients to suffer

Motorcycles parked inside JPMC cause patients to suffer

Surgical Building of Jinnah Postgraduate Medical Centre (JPMC) has become parking lot for the staff and visitors, as majority of them parked their motorcycles there, causing serious inconvenience to patients and their attendants.
Published 21 Jul, 2014 12:00am
Akhtar Mengal hospitalised

Akhtar Mengal hospitalised

President Balochistan National Party-Mengal (BNP-M) and former Chief Minister of Balochistan Sardar Akthar Mengal has fallen ill and has been admitted to a private hospital in Karachi. According to details, Mengal was on a visit to Shah Noorani area of di
Published 21 Jul, 2014 12:00am
IDPs of NWA: KP governor takes notice of inadequate cash disbursement

IDPs of NWA: KP governor takes notice of inadequate cash disbursement

Khyber Pakhtunkhwa Governor Sardar Mehtab Ahmad Khan has said that no effort will be spared for provision of all possible facilities to the Internally Displaced Persons (IDPs) of North Waziristan Agency. Taking the notice of the inadequate disbursement of
Published 21 Jul, 2014 12:00am
Scammers target families of illegal child immigrants to US: FBI

Scammers target families of illegal child immigrants to US: FBI

US officials warned on Sunday that scammers are attempting to prey on the families of some of the tens of thousands of unaccompanied child immigrants crossing the border from Latin America, seeking money for phony travel costs.
Published 21 Jul, 2014 12:00am
Cyprus marks 40 years of division

Cyprus marks 40 years of division

Sirens wailed in Greek Cypriot towns and villages Sunday as Cyprus marked the 40th anniversary of Turkey's invasion still a divided island despite countless UN-brokered peace initiatives. In the breakaway north, Turkey's President Abdullah Gul joined Turk
Published 21 Jul, 2014 12:00am
Popular French Prime Minister loses shine as approval ratings slips

Popular French Prime Minister loses shine as approval ratings slips

French Prime Minister Manuel Valls has slipped below a 50 percent approval rating for the first time since he was nominated in a March cabinet reshuffle, a poll showed on Sunday, as President Francois Hollande remained deeply unpopular. Valls, who replace
Published 21 Jul, 2014 12:00am
Florida jury awards record $23 billion against RJ Reynolds

Florida jury awards record $23 billion against RJ Reynolds

A Florida jury has awarded the widow of a chain smoker who died of lung cancer 18 years ago record punitive damages of more than $23 billion in her lawsuit against the R.J. Reynolds Tobacco Company, the nation's second-biggest cigarette maker.
Published 21 Jul, 2014 12:00am
Indonesia to announce results in disputed presidential poll

Indonesia to announce results in disputed presidential poll

Jakarta governor Joko Widodo is expected to be declared the winner of Indonesia's disputed presidential election this week but his rival, ex-general Prabowo Subianto, is set to mount a legal challenge that could prolong the political deadlock.
Published 21 Jul, 2014 12:00am
Afghan vote audit goes slowly as problems arise

Afghan vote audit goes slowly as problems arise

Four days after Afghanistan began a massive audit of millions of votes cast in the run-off presidential election, disagreements and a shortage of observers have slowed progress. The audit of all 8.1 million ballots cast in the June 14 run-off round was ag
Published 21 Jul, 2014 12:00am
Afghan DPs returning home: UNHCR mulling special relief

Afghan DPs returning home: UNHCR mulling special relief

The United Nations High Commissioner for Refugees (UNHCR) is considering giving a special relief package for voluntary home returning Afghan refugees. According to the new package returning, the Afghan refugees will be paid U$200, free transport and house
Published 21 Jul, 2014 12:00am
CSS exam to be held from February 14, 2015

CSS exam to be held from February 14, 2015

Federal Public Service Commission (FPSC) will hold the Competitive Examination (CSS)-2015, for recuruitment to posts in BS-17 in various occupational groups/services under the Federal Government from Saturday 14th Feburary, 2015. Cut off date for determin
Published 21 Jul, 2014 12:00am
Politicians blamed for playing politics with national issues

Politicians blamed for playing politics with national issues

Former chief minister and Awami National Party provincial president Amir Haider Khan Hoti has said that those people talking about holding of long march have no concern about national issues, but they were just wasting time for their personal interests an
Published 21 Jul, 2014 12:00am
KP government establishes IFA for development of industries

KP government establishes IFA for development of industries

The government of Khyber Pakhtunkhwa has established the Industrial Facilitation Authority (IFA) by merging the Small Industries Development Board (SIDB) and the Sarhad Development Authority (SDA) for the promotion of industries in the province. He said t
Published 21 Jul, 2014 12:00am
Violators of hygiene law: CDA issues 103 notices, 36 challans

Violators of hygiene law: CDA issues 103 notices, 36 challans

Directorate of Health Services (DHS) Capital Development Authority (CDA), during previous week issued 103 notices and 36 challans to the violators of hygiene sections of PPF Ordinance 1960 including seal of four bakeries.
Published 21 Jul, 2014 12:00am
Construction of houses banned in G-14, G-15

Construction of houses banned in G-14, G-15

The construction of illegal houses in the sub-sectors of G-14/1,2,3 and G-15/3 of the Capital has been prohibited for two months. Sub-Divisional Magistrate (Saddar) Islamabad, Rabia Aurangzaib, under section 144 of Cr.P.C., also prohibited transportation,
Published 21 Jul, 2014 12:00am
Yaum-e-Ali (RA) observed amid tight security

Yaum-e-Ali (RA) observed amid tight security

The Yaum-e-Ali (RA) was observed throughout the country on Sunday with solemnity amid strict security measures. Different organisations arranged functions to highlight the life and achievements of the fourth caliph of Islam.
Published 21 Jul, 2014 12:00am
Gene therapy creates 'biological pacemaker' cells for the heart

Gene therapy creates 'biological pacemaker' cells for the heart

Researchers have succeeded in turning ordinary cardiac muscle cells into specialized ones that deliver a steady heartbeat using a gene therapy procedure they predict could become an alternative to implanted electronic pacemakers.
Published 21 Jul, 2014 12:00am
Lifestyle choices cut Alzheimer toll: study

Lifestyle choices cut Alzheimer toll: study

Millions of cases of Alzheimer's could be prevented by altering lifestyle habits which increase risk of the tragic memory-robbing disease, scientists said on July 14. Alzheimer's is an age-related brain condition that experts suspect is influenced by both
Published 21 Jul, 2014 12:00am
Governments agree to stem cancer causing arsenic in rice: UN

Governments agree to stem cancer causing arsenic in rice: UN

Governments have agreed the first international standards limiting cancer-causing arsenic pollution in rice, a key move to protect consumers of what is a staple food for billions, the UN said on July 17. The Codex Alimentarius Commission, the top global d
Published 21 Jul, 2014 12:00am
Scientific review finds asthma drugs suppress child growth

Scientific review finds asthma drugs suppress child growth

Corticosteroid drugs given via inhalers to children with asthma may suppress their growth, according to two systematic reviews of scientific studies on the issue. Health experts who conducted the review and published it in The Cochrane Library journal fou
Published 21 Jul, 2014 12:00am
World is getting warmer: report

World is getting warmer: report

The world is getting warmer, as greenhouse gases reach historic highs and Arctic sea ice melts, making 2013 one of the hottest years on record, international scientists said on July 17. The annual State of the Climate report 2013 is a review of scientific
Published 21 Jul, 2014 12:00am
Priceless quality healthcare services at The Indus hospital

Priceless quality healthcare services at The Indus hospital

A twelve-year-old boy named Asif on March 27, was brought into The Indus Hospital by his parents who at this point were grief-stricken and in shock. When he was admitted he was comatose as had been suffering from fever-induced fits. The father of the pati
Published 21 Jul, 2014 12:00am
Asian countries should stay vigilant against MERS: WHO

Asian countries should stay vigilant against MERS: WHO

Asian countries should keep their guard against the deadly Middle East respiratory virus, although in its current form it appears less infectious than originally thought, a World Health Organization expert said. The Middle East respiratory syndrome (MERS)
Published 21 Jul, 2014 12:00am
Google's Nest launches network technology for connected home

Google's Nest launches network technology for connected home

Google Inc's Nest Labs on July 15 unveiled an industry group to encourage makers of "smart" home gadgets like locks and light-bulbs to use Thread, a new standard for devices to communicate on a network. The attempt by Nest, a smart thermostat maker that G
Published 21 Jul, 2014 12:00am
Foreign SIM cards: let European sales clerks set them up for you

Foreign SIM cards: let European sales clerks set them up for you

If you buy yourself an expendable SIM card in a foreign country to obtain cheap internet access for a week or so, request the clerk in the phone shop to insert the SIM and set it up for you, advises German computer magazine c't. That's because local codes
Published 21 Jul, 2014 12:00am
Apple, IBM team up on mobile devices for business

Apple, IBM team up on mobile devices for business

Apple and IBM unveiled a "landmark" partnership July 15 to win over business customers by offering iPhones and iPads that are specially tailored to the enterprise users. The tie-up, which aims to boost Apple's share of the market for mobile devices for bu
Published 21 Jul, 2014 12:00am
Technology giants fight to dominate networked-home standards

Technology giants fight to dominate networked-home standards

On one side are the computer-chip giant Intel and Korean electronic goliath Samsung. On the other are another Korean electrics champion, LG, and chipmaker Qualcomm. On the sideline is Apple and a host of others. Each camp wants to impose a standard for th
Published 21 Jul, 2014 12:00am
New social network gives a penny for your thoughts

New social network gives a penny for your thoughts

A new social network says its goal is sharing among its users - including some of the profits. Bubblews, which is launching a new platform July 16, aims to bring together people by giving a small slice of ad revenues to users for each time they post or sh
Published 21 Jul, 2014 12:00am
Single-message app 'Yo' is what's up with investors

Single-message app 'Yo' is what's up with investors

A messaging app that allows users to send the word "Yo" to friends has discovered newfound fame and fortune. San Francisco-based startup Yo, which got its start in Tel Aviv and moved to California after becoming a hit in Israel, boasted new backers on Fri
Published 21 Jul, 2014 12:00am
Amazon launches unlimited e-book subscription plan

Amazon launches unlimited e-book subscription plan

US online giant Amazon unveiled a Netflix-style subscription plan Friday for unlimited access to e-books, a move which could shake up the world of publishing. The $9.99 per month Kindle Unlimited program offers access to some 600,000 titles in the Amazon
Published 21 Jul, 2014 12:00am
Novartis throws weight behind Google's smart contact lens

Novartis throws weight behind Google's smart contact lens

Swiss medicine maker Novartis said Tuesday it would join US technology giant Google in developing and marketing a digital contact lens for diabetics, which could speed up the commercial launch of the product. Novartis, one of the world's biggest pharmaceu
Published 21 Jul, 2014 12:00am
Novartis throws weight behind Google's smart contact lens

Novartis throws weight behind Google's smart contact lens

Swiss medicine maker Novartis said Tuesday it would join US technology giant Google in developing and marketing a digital contact lens for diabetics, which could speed up the commercial launch of the product. Novartis, one of the world's biggest pharmaceu
Published 21 Jul, 2014 12:00am
Check out browsing history with iOS Safari

Check out browsing history with iOS Safari

You can check to see which websites have been viewed recently with Apple's mobile Safari browser, but the command is well hidden and most iPhone and iPad users overlook it. To access it, hold down the backwards button, at the bottom left of the display. T
Published 21 Jul, 2014 12:00am
New version of Android allows USB audio output

New version of Android allows USB audio output

The upcoming version of Android - Version L - will allow audio output via a Micro USB connection. That's potentially good news for music lovers who are not happy with the sound quality from their smartphone's headset jack, reports the Androidpolice.com bl
Published 21 Jul, 2014 12:00am
UBS banks on growth in business with the ultra-rich

UBS banks on growth in business with the ultra-rich

UBS expects its business with its wealthiest clients to grow by 7 to 8 percent in terms of assets, as the area plays an increasingly important role for the Swiss private bank.
Published 21 Jul, 2014 12:00am
UBS banks on growth in business with the ultra-rich

UBS banks on growth in business with the ultra-rich

UBS expects its business with its wealthiest clients to grow by 7 to 8 percent in terms of assets, as the area plays an increasingly important role for the Swiss private bank.
Published 21 Jul, 2014 12:00am
SAP second quarter profits slump

SAP second quarter profits slump

German software giant SAP said on July 17 its bottom line was hit by one-off effects in the second quarter, but it is sticking to its full-year forecast. SAP said in a statement that its net profit fell by 23 percent to 556 million euros ($752 million) in
Published 21 Jul, 2014 12:00am
SAP second quarter profits slump

SAP second quarter profits slump

German software giant SAP said on July 17 its bottom line was hit by one-off effects in the second quarter, but it is sticking to its full-year forecast. SAP said in a statement that its net profit fell by 23 percent to 556 million euros ($752 million) in
Published 21 Jul, 2014 12:00am
UAE equity firms Ithmar Capital, Gulf Capital planning IPOs

UAE equity firms Ithmar Capital, Gulf Capital planning IPOs

United Arab Emirates-based private equity firms Ithmar Capital and Gulf Capital are looking to sell shares to the public as they seek cash for new investments, according to sources, in a move emulating global peers. Private equity in the Middle East suffe
Published 21 Jul, 2014 12:00am
UAE equity firms Ithmar Capital, Gulf Capital planning IPOs

UAE equity firms Ithmar Capital, Gulf Capital planning IPOs

United Arab Emirates-based private equity firms Ithmar Capital and Gulf Capital are looking to sell shares to the public as they seek cash for new investments, according to sources, in a move emulating global peers. Private equity in the Middle East suffe
Published 21 Jul, 2014 12:00am
India's TCS first quarter net profit surges

India's TCS first quarter net profit surges

India's biggest outsourcing firm Tata Consultancy Services on July 17 reported a 45 percent jump in quarterly net profit from a year ago, led by strong growth in business from North America. The Mumbai-based company, commonly known as TCS, indicated its o
Published 21 Jul, 2014 12:00am
India's TCS first quarter net profit surges

India's TCS first quarter net profit surges

India's biggest outsourcing firm Tata Consultancy Services on July 17 reported a 45 percent jump in quarterly net profit from a year ago, led by strong growth in business from North America. The Mumbai-based company, commonly known as TCS, indicated its o
Published 21 Jul, 2014 12:00am
HP CEO Whitman assumes chairman's role

HP CEO Whitman assumes chairman's role

Hewlett-Packard said on July 17 that chief executive Meg Whitman would chair the US tech giant, after the resignation of non-executive chairman Ralph Whitworth. "Meg has been an outstanding leader since coming to HP, and we believe that as chairman she ca
Published 21 Jul, 2014 12:00am
Abbott beats profit estimate, infant formulas rebound

Abbott beats profit estimate, infant formulas rebound

Abbott Laboratories Inc reported better-than-expected quarterly earnings on July 16 as demand for its recently-recalled infant formulas began to recover and profit margins improved for other business segments. Sales of nutritional products, the company's
Published 21 Jul, 2014 12:00am
Abbott beats profit estimate, infant formulas rebound

Abbott beats profit estimate, infant formulas rebound

Abbott Laboratories Inc reported better-than-expected quarterly earnings on July 16 as demand for its recently-recalled infant formulas began to recover and profit margins improved for other business segments. Sales of nutritional products, the company's
Published 21 Jul, 2014 12:00am
Schwab Corp's second quarter revenue, profit grow

Schwab Corp's second quarter revenue, profit grow

Charles Schwab Corp's second-quarter revenue and profit grew at double-digit rates, slightly exceeding Wall Street expectations. Once known as a pioneering discount broker for self-directed investors, the San Francisco-based company now emphasizes its ful
Published 21 Jul, 2014 12:00am
Schwab Corp's second quarter revenue, profit grow

Schwab Corp's second quarter revenue, profit grow

Charles Schwab Corp's second-quarter revenue and profit grew at double-digit rates, slightly exceeding Wall Street expectations. Once known as a pioneering discount broker for self-directed investors, the San Francisco-based company now emphasizes its ful
Published 21 Jul, 2014 12:00am
Goldman's investment management business peeks out from trading's shadow

Goldman's investment management business peeks out from trading's shadow

Late last year, Goldman Sachs reached an important milestone: its investment management business surpassed $1 trillion in cllient money under supervision But the achievement went largely unnoticed as shareholders focused on troubles in Goldman's fixed-inc
Published 21 Jul, 2014 12:00am
Mayer stuns Ferrer to win maiden title in Hamburg

Mayer stuns Ferrer to win maiden title in Hamburg

Argentina's world number 46 Leonardo Mayer captured his first ATP title on Sunday when he fought back to defeat top seeded Spaniard David Ferrer, 6-7 (3/7), 6-1, 7-6 (7/4) in the Hamburg final. Mayer becomes the lowest-ranked winner of an ATP World Tour 5
Published 21 Jul, 2014 12:00am
Wozniacki routs Vinci for Istanbul title

Wozniacki routs Vinci for Istanbul title

Top seed Caroline Wozniacki won her first title of the year and 22nd of her career on Sunday when she defeated second-seeded Italian Roberta Vinci 6-1, 6-1 in the Istanbul WTA final. The former world number one has now won a WTA title every year for the l
Published 21 Jul, 2014 12:00am
China completes clean sweep at FINA World Cup

China completes clean sweep at FINA World Cup

China's all-conquering divers made a clean sweep at the FINA World Cup in Shanghai when Yang Jian clinched the gold in the Men's 10m platform Sunday. The victory was the ninth title to be claimed by Chinese divers in the biannual tournament, which was las
Published 21 Jul, 2014 12:00am
Rosberg coasts to first German GP win

Rosberg coasts to first German GP win

Nico Rosberg completed a memorable week for himself and his nation on Sunday when he cruised to his first win in his home German Grand Prix. The pole sitter, cheered on by Germany World Cup winner Lukas Podolski in the Mercedes pits, extended his lead to
Published 21 Jul, 2014 12:00am
Glory for mighty McIlroy

Glory for mighty McIlroy

Rory McIlroy joined the elite list of golfers to have won three of the four major titles at Hoylake on Sunday, but he had to battle all the way against Sergio Garcia and Rickie Fowler before bagging his first British Open title. At 25, McIlroy joined lege
Published 21 Jul, 2014 12:00am
Emotional Shakib promises to behave

Emotional Shakib promises to behave

Star all-rounder Shakib Al Hasan pledged Sunday to "behave in a more mature way" in future as he begged Bangladesh cricket authorities to review a six-month ban for bad behaviour. Shakib, the country's most popular sportsman, made a passionate public plea
Published 21 Jul, 2014 12:00am
India eye Lord's triumph as Cook fails again

India eye Lord's triumph as Cook fails again

India were on the brink of just their second Test win at Lord's as Alastair Cook's latest failure with the bat prolonged the debate about his future as England captain. England were 105 for four at stumps on Sunday's fourth day, needing a further 214 runs
Published 21 Jul, 2014 12:00am
Steyn stars in big SA win

Steyn stars in big SA win

Dale Steyn grabbed a match haul of 9-99 as South Africa thrashed Sri Lanka by 153 runs on the fifth and final day of the first Test on Sunday.
Published 21 Jul, 2014 12:00am
Raza revels as Zimbabwe rout Afghanistan

Raza revels as Zimbabwe rout Afghanistan

Sikandar Raza struck 141 runs as Zimbabwe cruised to an eight-wicket one-day international (ODI) triumph over Afghanistan in Bulawayo Sunday. A century from 17-year-old Usman Ghani was pivotal as Afghanistan made 256-7 in 50 overs at Queens Sports Club in
Published 21 Jul, 2014 12:00am
Foreign players abandon Ukraine clubs

Foreign players abandon Ukraine clubs

At least seven foreign players for two top Ukrainian football teams have refused to return to the country as tensions mount after the Malaysia Airlines crash, media reported Sunday. Six players for champions Shakhtar Donetsk players and an Argentine with
Published 21 Jul, 2014 12:00am
Britain to unveil new pension rules in annuity market shake-up

Britain to unveil new pension rules in annuity market shake-up

Britain will on Monday announce new rules for the pensions industry that will give retirees greater access to their savings, fleshing out plans announced earlier this year that shook the share value of British insurers. Finance minister George Osborne stu
Published 21 Jul, 2014 12:00am
Brazil eyeing Japan's help in oil project

Brazil eyeing Japan's help in oil project

Brazil plans to use Japanese technology in building a floating structure and ships for its huge offshore oil development project, media reports said Sunday. Japanese Prime Minister Shinzo Abe and Brazilian President Dilma Rousseff will announce the use of
Published 21 Jul, 2014 12:00am
ADIB's net profit jumps

ADIB's net profit jumps

Abu Dhabi Islamic Bank (ADIB), the largest Shariah-compliant lender in the emirate, beat analysts' estimates on Sunday as it posted a 22.5 percent jump in second-quarter net profit as core business income boosted revenues.
Published 21 Jul, 2014 12:00am
ADIB's net profit jumps

ADIB's net profit jumps

Abu Dhabi Islamic Bank (ADIB), the largest Shariah-compliant lender in the emirate, beat analysts' estimates on Sunday as it posted a 22.5 percent jump in second-quarter net profit as core business income boosted revenues.
Published 21 Jul, 2014 12:00am
Striking SA metalworkers lower their wage demand

Striking SA metalworkers lower their wage demand

Labour unions representing striking South African metalworkers have submitted a lower wage demand to employers, two union representatives said on Sunday, to try to end the walkout battering Africa's most developed economy.
Published 21 Jul, 2014 12:00am
Rise of Dubai property market slowing: JLL

Rise of Dubai property market slowing: JLL

The rise of Dubai's red-hot residential real estate market is slowing as government steps to curb speculative buying have an impact and higher prices start to affect demand, consultants JLL said in a report on Sunday. Second-quarter trends in the market s
Published 21 Jul, 2014 12:00am
Xi heads to Venezuela after inking trade deals with Argentina

Xi heads to Venezuela after inking trade deals with Argentina

China's President Xi Jinping departed Argentina Sunday for Venezuela, the next-to-last stop of a Latin American tour aimed at bolstering trade with the region. The Chinese leader's charm offensive seeks to secure new bilateral trade deals - particularly f
Published 21 Jul, 2014 12:00am
SABIC profit rises

SABIC profit rises

Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups and the Gulf's largest listed company, reported a 7 percent increase in second-quarter net income on Sunday, matching analysts' forecasts.
Published 21 Jul, 2014 12:00am
SABIC profit rises

SABIC profit rises

Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups and the Gulf's largest listed company, reported a 7 percent increase in second-quarter net income on Sunday, matching analysts' forecasts.
Published 21 Jul, 2014 12:00am
Etisalat profit jumps

Etisalat profit jumps

Etisalat reported a 26 percent jump in second-quarter profit on Sunday, beating analysts' estimates, as the UAE firm's acquisition of a majority stake in Maroc Telecom bolstered its bottom line. The former telecom monopoly, which operates in 19 countries
Published 21 Jul, 2014 12:00am
Etisalat profit jumps

Etisalat profit jumps

Etisalat reported a 26 percent jump in second-quarter profit on Sunday, beating analysts' estimates, as the UAE firm's acquisition of a majority stake in Maroc Telecom bolstered its bottom line. The former telecom monopoly, which operates in 19 countries
Published 21 Jul, 2014 12:00am
Middle East pay-TV firm OSN gets buyout offer

Middle East pay-TV firm OSN gets buyout offer

Middle Eastern pay-television operator OSN is the subject of a full take-over bid from an unnamed buyer, its parent company said on Sunday, a deal that could prove to be one of the largest acquisitions of a regional business in recent years. Kuwait Projec
Published 21 Jul, 2014 12:00am
Schaeuble warns ECB on asset bubbles

Schaeuble warns ECB on asset bubbles

German Finance Minister Wolfgang Schaeuble warned the European Central Bank on Sunday that a loose monetary policy runs the risk of causing asset bubbles. "We can't just leave the avoidance of bubbles to government supervision," he told the Handelsblatt b
Published 21 Jul, 2014 12:00am
ENI signs deal to expand oil, gas exploration in Congo

ENI signs deal to expand oil, gas exploration in Congo

Italian oil and gas group Eni said it signed a deal to explore for hydrocarbons in the Republic of Congo's coastal basin, expanding its foothold in sub-Saharan Africa's No 4 oil producer. At a signing ceremony in capital Brazzaville, new Eni Chief Executi
Published 21 Jul, 2014 12:00am
UK fraud office to launch currency trading probe
Libor

UK fraud office to launch currency trading probe

Britain's Serious Fraud Office is poised to begin its first criminal investigation of alleged rigging by traders in the foreign exchange market, the Sunday Times reported. The SFO, which is already conducting a criminal probe into the rigging of benchmark
Published 21 Jul, 2014 12:00am
Want euros in London? Don't ask your bank
Libor

Want euros in London? Don't ask your bank

From a small, white-washed basement close to London's Liverpool Street station, Sakthi Ariaratnam is beating banks at what you would have thought was their own game - and it is relatively easy. On a recent Tuesday morning in the heart of London's City fin
Published 21 Jul, 2014 12:00am
Name change marks cultural shift as hedge funds convene in Monaco

Name change marks cultural shift as hedge funds convene in Monaco

What's in a name? For a growing number of hedge funds, the answer seems to be quite a lot. Working for, or better still running, a hedge fund has long been the dream for thousands of business school graduates and seasoned investment managers. These days,
Published 21 Jul, 2014 12:00am
Name change marks cultural shift as hedge funds convene in Monaco

Name change marks cultural shift as hedge funds convene in Monaco

What's in a name? For a growing number of hedge funds, the answer seems to be quite a lot. Working for, or better still running, a hedge fund has long been the dream for thousands of business school graduates and seasoned investment managers. These days,
Published 21 Jul, 2014 12:00am
US SEC set to take aim at costly mutual funds, bad brokers

US SEC set to take aim at costly mutual funds, bad brokers

A US Securities and Exchange Commission official offered a sneak peek on plans for examining brokerages in 2015, indicating it would likely focus on sales of expensive mutual funds and have a "laser like focus" on problem brokers and firms.
Published 21 Jul, 2014 12:00am
Tokyo investors eye geopolitical tensions

Tokyo investors eye geopolitical tensions

Tokyo investors will be keeping an eye on simmering geopolitical tensions next week in the aftermath of a Malaysia Airlines jet crash in violence-wracked Ukraine. Fresh economic data, including Japanese trade figures for June, will also be on investors' r
Published 21 Jul, 2014 12:00am