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Print - 2014-07-21
Chief minister Punjab meets Nisar

Chief minister Punjab meets Nisar

Punjab Chief Minister Muhammad Shahbaz Sharif here on Sunday meeting Federal Home Minister Ch Nisar Ali Khan discussed matters relating to on-going operation by armed forces in Wazirstan area. Both also discussed the issue of long march of Pakistan Tehrik
Published 21 Jul, 2014 12:00am
THE RUPEE: sharp fall resisted

THE RUPEE: sharp fall resisted

The rupee, somehow, managed to resist sharp decline against the dollar on the money market during the week ended on July 19. On the interbank market, the rupee drifted lower by 15 paisa in terms of the dollar for buying and selling at Rs 98.93 and 98.95,
Published 21 Jul, 2014 12:00am
THE RUPEE: sharp fall resisted

THE RUPEE: sharp fall resisted

The rupee, somehow, managed to resist sharp decline against the dollar on the money market during the week ended on July 19. On the interbank market, the rupee drifted lower by 15 paisa in terms of the dollar for buying and selling at Rs 98.93 and 98.95,
Published 21 Jul, 2014 12:00am
Airstrikes on terrorist hideouts kill 28 in NW

Airstrikes on terrorist hideouts kill 28 in NW

Military Sunday bombed six militant boltholes in a lawless tribal district, killing at least 28 insurgents, officials said. The airstrikes targeted Shawal village in the troubled North Waziristan region, where militants fleeing a military offensive in oth
Published 21 Jul, 2014 12:00am
Airstrikes on terrorist hideouts kill 28 in NW

Airstrikes on terrorist hideouts kill 28 in NW

Military Sunday bombed six militant boltholes in a lawless tribal district, killing at least 28 insurgents, officials said. The airstrikes targeted Shawal village in the troubled North Waziristan region, where militants fleeing a military offensive in oth
Published 21 Jul, 2014 12:00am
Two security guards shot dead in Peshawar firing

Two security guards shot dead in Peshawar firing

Two security guards of a private company were killed when unidentified gunmen opened fire on them at the entrance of Hayatabad Industrial Estate, here on Sunday. According to police officials, some unidentified gunmen on motorcycles opened fire on the gua
Published 21 Jul, 2014 12:00am
Two security guards shot dead in Peshawar firing

Two security guards shot dead in Peshawar firing

Two security guards of a private company were killed when unidentified gunmen opened fire on them at the entrance of Hayatabad Industrial Estate, here on Sunday. According to police officials, some unidentified gunmen on motorcycles opened fire on the gua
Published 21 Jul, 2014 12:00am
Bloody Sunday: Israel kills 100 Gazans

Bloody Sunday: Israel kills 100 Gazans

At least 100 Palestinians and 13 soldiers were killed Sunday as Israel ramped up a major military offensive in the bloodiest single day in Gaza in five years. The Palestinian president called for an immediate meeting of the UN Security Council as regional
Published 21 Jul, 2014 12:00am
Bloody Sunday: Israel kills 100 Gazans

Bloody Sunday: Israel kills 100 Gazans

At least 100 Palestinians and 13 soldiers were killed Sunday as Israel ramped up a major military offensive in the bloodiest single day in Gaza in five years. The Palestinian president called for an immediate meeting of the UN Security Council as regional
Published 21 Jul, 2014 12:00am
Egypt summons Turkish envoy over Gaza criticism

Egypt summons Turkish envoy over Gaza criticism

Egypt's foreign ministry on Sunday summoned Turkey's charge d'affaires over criticism of Cairo's handling of the war between Israel and Hamas in neighbouring Gaza. Turkey and Egypt withdrew their ambassadors last year after the military ousted Egyptian Is
Published 21 Jul, 2014 12:00am
Egypt summons Turkish envoy over Gaza criticism

Egypt summons Turkish envoy over Gaza criticism

Egypt's foreign ministry on Sunday summoned Turkey's charge d'affaires over criticism of Cairo's handling of the war between Israel and Hamas in neighbouring Gaza. Turkey and Egypt withdrew their ambassadors last year after the military ousted Egyptian Is
Published 21 Jul, 2014 12:00am
Kabul was planning 'counter-attack': Achakzai

Kabul was planning 'counter-attack': Achakzai

Leader of Pakhtunkhwa Milli Awami Party (PkMAP) Mahmood Khan Achakzai said that he was sent to Afghanistan as special envoy by Prime Minister Nawaz Sharif following confirmed reports that Kabul was planning some activity against Pakistan. In an interview
Published 21 Jul, 2014 12:00am
Kabul was planning 'counter-attack': Achakzai

Kabul was planning 'counter-attack': Achakzai

Leader of Pakhtunkhwa Milli Awami Party (PkMAP) Mahmood Khan Achakzai said that he was sent to Afghanistan as special envoy by Prime Minister Nawaz Sharif following confirmed reports that Kabul was planning some activity against Pakistan. In an interview
Published 21 Jul, 2014 12:00am
PSM seeks delay in sell-off

PSM seeks delay in sell-off

Pakistan Steel Mills' (PSM) management has secretly proposed to the federal government to delay privatisation of the entity for three years under the guise of upgradation/expansion plan, well informed sources told Business Recorder. In April this y
Published 21 Jul, 2014 12:00am
PSM seeks delay in sell-off

PSM seeks delay in sell-off

Pakistan Steel Mills' (PSM) management has secretly proposed to the federal government to delay privatisation of the entity for three years under the guise of upgradation/expansion plan, well informed sources told Business Recorder. In April this y
Published 21 Jul, 2014 12:00am
PSM seeks delay in sell-off

PSM seeks delay in sell-off

Pakistan Steel Mills'' (PSM) management has secretly proposed to the federal government to delay privatisation of the entity for three years under the guise of upgradation/expansion plan, well informed sources told Business Recorder. In April this
Published 21 Jul, 2014 12:00am
MPS: the inevitable happened

MPS: the inevitable happened

As expected, there is no change in the policy rate. All 25 research houses contacted by BR Research were anticipating a status quo. Surprisingly, however, the State Bank of Pakistan's language seems soft in the detailed monetary policy statement. The cent
Published 21 Jul, 2014 12:00am
MPS: the inevitable happened

MPS: the inevitable happened

As expected, there is no change in the policy rate. All 25 research houses contacted by BR Research were anticipating a status quo. Surprisingly, however, the State Bank of Pakistan's language seems soft in the detailed monetary policy statement. The cent
Published 21 Jul, 2014 12:00am
MPS: the inevitable happened

MPS: the inevitable happened

As expected, there is no change in the policy rate. All 25 research houses contacted by BR Research were anticipating a status quo. Surprisingly, however, the State Bank of Pakistan''s language seems soft in the detailed monetary policy statement. The cen
Published 21 Jul, 2014 12:00am
Index crosses 30,000-level

Index crosses 30,000-level

Karachi Stock Exchange registered a spectacular rally in the last two day of the outgoing week as the benchmark KSE-100 Index surpassed the psychological barrier of 30,000 points to hit an all-time high of 30,224.06 points. The index gained an overall 907
Published 21 Jul, 2014 12:00am
Index crosses 30,000-level

Index crosses 30,000-level

Karachi Stock Exchange registered a spectacular rally in the last two day of the outgoing week as the benchmark KSE-100 Index surpassed the psychological barrier of 30,000 points to hit an all-time high of 30,224.06 points. The index gained an overall 907
Published 21 Jul, 2014 12:00am
Index crosses 30,000-level

Index crosses 30,000-level

Karachi Stock Exchange registered a spectacular rally in the last two day of the outgoing week as the benchmark KSE-100 Index surpassed the psychological barrier of 30,000 points to hit an all-time high of 30,224.06 points. The index gained an overall 907
Published 21 Jul, 2014 12:00am
Futures spread down by 208 basis points

Futures spread down by 208 basis points

The futures spread decreased by 208 basis points to 8.35 per cent during the outgoing week ended on July 18, 2014. Trading activity on the future counter witnessed upward trend and average daily volumes surged by 197.3 percent to 11.78 million shares. The
Published 21 Jul, 2014 12:00am
Futures spread down by 208 basis points

Futures spread down by 208 basis points

The futures spread decreased by 208 basis points to 8.35 per cent during the outgoing week ended on July 18, 2014. Trading activity on the future counter witnessed upward trend and average daily volumes surged by 197.3 percent to 11.78 million shares. The
Published 21 Jul, 2014 12:00am
Futures spread down by 208 basis points

Futures spread down by 208 basis points

The futures spread decreased by 208 basis points to 8.35 per cent during the outgoing week ended on July 18, 2014. Trading activity on the future counter witnessed upward trend and average daily volumes surged by 197.3 percent to 11.78 million shares. The
Published 21 Jul, 2014 12:00am
Futures spread down by 208 basis points

Futures spread down by 208 basis points

The futures spread decreased by 208 basis points to 8.35 per cent during the outgoing week ended on July 18, 2014. Trading activity on the future counter witnessed upward trend and average daily volumes surged by 197.3 percent to 11.78 million shares. The
Published 21 Jul, 2014 12:00am
BRICS shake up global economic architecture

BRICS shake up global economic architecture

By creating their own multilateral financial institutions, the BRICS emerging-market powers are shaking up global economic governance but remain far from dismantling the post-war system dominated by the West. For the past 70 years, the International Monet
Published 21 Jul, 2014 12:00am
BRICS shake up global economic architecture

BRICS shake up global economic architecture

By creating their own multilateral financial institutions, the BRICS emerging-market powers are shaking up global economic governance but remain far from dismantling the post-war system dominated by the West. For the past 70 years, the International Monet
Published 21 Jul, 2014 12:00am
BRICS shake up global economic architecture

BRICS shake up global economic architecture

By creating their own multilateral financial institutions, the BRICS emerging-market powers are shaking up global economic governance but remain far from dismantling the post-war system dominated by the West. For the past 70 years, the International Monet
Published 21 Jul, 2014 12:00am
British foreign secretary would vote to leave EU

British foreign secretary would vote to leave EU

Britain's new Foreign Secretary Philip Hammond confirmed Sunday he would vote to leave the EU unless London can repatriate powers from Brussels. Hammond said without changes to Britain's relationship with the European Union, he expected the country would
Published 21 Jul, 2014 12:00am
Egypt vows to punish attackers in checkpoint assault

Egypt vows to punish attackers in checkpoint assault

Egypt vowed on Sunday to punish the attackers who killed 21 border guards in its western desert near the frontier with restive Libya. Militants firing rocket-propelled grenades and machine-guns attacked a checkpoint, 630 kilometres (390 miles) west of Cai
Published 21 Jul, 2014 12:00am
PPP doesn't support vote recount demand: Shah

PPP doesn't support vote recount demand: Shah

Opposition leader in the National Assembly Syed Khurshid Shah said on Sunday that the Pakistan People's Party does not support the demand for vote recount. Speaking to media persons, Khurshid Shah said the government should not bar protests and long march
Published 21 Jul, 2014 12:00am
PPP doesn't support vote recount demand: Shah

PPP doesn't support vote recount demand: Shah

Opposition leader in the National Assembly Syed Khurshid Shah said on Sunday that the Pakistan People's Party does not support the demand for vote recount. Speaking to media persons, Khurshid Shah said the government should not bar protests and long march
Published 21 Jul, 2014 12:00am
MQM chief restores 19 members of Co-ordination Committee

MQM chief restores 19 members of Co-ordination Committee

Muttahida Qaumi Movement (MQM) on Sunday suspended 19 of its Coordin-ation Committee members for behaving irresponsibly. However, membership of the Co-ordination Committee's suspended members was later restored by the party chief, Altaf Hussain.
Published 21 Jul, 2014 12:00am
MQM chief restores 19 members of Co-ordination Committee

MQM chief restores 19 members of Co-ordination Committee

Muttahida Qaumi Movement (MQM) on Sunday suspended 19 of its Coordin-ation Committee members for behaving irresponsibly. However, membership of the Co-ordination Committee's suspended members was later restored by the party chief, Altaf Hussain.
Published 21 Jul, 2014 12:00am
Civilian dies in Indian border fire

Civilian dies in Indian border fire

Unprovoked firing by Indian Security Forces in border villages along Sialkot Working Boundary killed Muhammad Iqbal (45) and injured four others including three women in the wee hours of Sunday. According to Assistant Commissioner Pasrur, Tauqeer Ilyas Ch
Published 21 Jul, 2014 12:00am
Civilian dies in Indian border fire

Civilian dies in Indian border fire

Unprovoked firing by Indian Security Forces in border villages along Sialkot Working Boundary killed Muhammad Iqbal (45) and injured four others including three women in the wee hours of Sunday. According to Assistant Commissioner Pasrur, Tauqeer Ilyas Ch
Published 21 Jul, 2014 12:00am
MH17 disaster: US lays out 'evidence' against rebels

MH17 disaster: US lays out 'evidence' against rebels

US Secretary of State John Kerry laid out "extraordinary circumstantial evidence" Sunday that Ukrainian pro-Russian rebels were behind the downing of a Malaysian jet hit by weapons obtained from Russia. US intelligence suggests that a sophisticated SA11 m
Published 21 Jul, 2014 12:00am
MH17 disaster: US lays out 'evidence' against rebels

MH17 disaster: US lays out 'evidence' against rebels

US Secretary of State John Kerry laid out "extraordinary circumstantial evidence" Sunday that Ukrainian pro-Russian rebels were behind the downing of a Malaysian jet hit by weapons obtained from Russia. US intelligence suggests that a sophisticated SA11 m
Published 21 Jul, 2014 12:00am
'Maverick' star James Garner dies

'Maverick' star James Garner dies

James Garner, 86, star of the hit TV series "Maverick" and "The Rockford Files," has died, Los Angeles police told AFP on Sunday. Police and fire department personnel responded to a call at Garner's home at 8 pm Saturday (0400 GMT Sunday), said officer Al
Published 21 Jul, 2014 12:00am
'Maverick' star James Garner dies

'Maverick' star James Garner dies

James Garner, 86, star of the hit TV series "Maverick" and "The Rockford Files," has died, Los Angeles police told AFP on Sunday. Police and fire department personnel responded to a call at Garner's home at 8 pm Saturday (0400 GMT Sunday), said officer Al
Published 21 Jul, 2014 12:00am
Qatar agrees some foreign worker reforms

Qatar agrees some foreign worker reforms

Qatar's government has approved some measures to improve the treatment of foreign workers following international criticism over the past year, as the Gulf state gears up to host the 2022 World Cup soccer tournament. The steps were announced by minister o
Published 21 Jul, 2014 12:00am
Qatar agrees some foreign worker reforms

Qatar agrees some foreign worker reforms

Qatar's government has approved some measures to improve the treatment of foreign workers following international criticism over the past year, as the Gulf state gears up to host the 2022 World Cup soccer tournament. The steps were announced by minister o
Published 21 Jul, 2014 12:00am
Rallies lash out at Israeli aggression

Rallies lash out at Israeli aggression

Political and religious parties continued their protests against the Israeli aggression and killing of more than 350 Palestinian in ruthless bombardment on the Gaza strip. Pakistan Muslim League Youth Wing, Pakistan Traders Chamber, People's Saraiki Party
Published 21 Jul, 2014 12:00am
KP government allocates development funds for Swabi: Speaker

KP government allocates development funds for Swabi: Speaker

The Speaker of the Khyber Pakhtunkhwa Assembly, Asad Qaiser, has said the provincial government has allocated hefty funds for the development of Swabi district, which include the construction of sports' complex, public park, medical college, women univers
Published 21 Jul, 2014 12:00am
Three killed, five injured in Nawabshah road accident

Three killed, five injured in Nawabshah road accident

At least three people were killed and five injured when a speeding oil tanker collided with two vehicles near Nawabshah. Shortly after the collision, the oil tanker caught fire that led to killing of three people who were aboard a car. The speeding tanker
Published 21 Jul, 2014 12:00am
MEPCO system being upgraded on Prime Minister's orders

MEPCO system being upgraded on Prime Minister's orders

A sum of Rs16.24 billion is being invested to up-grade electricity transmission system on the orders of Prime Minister Muhammad Nawaz Sharif to substantially reduce load shedding and address problem of frequent tripping in MEPCO region, which also include
Published 21 Jul, 2014 12:00am
FDMA disburses Rs 759 million among Nadra-verified 49,857 IDP families

FDMA disburses Rs 759 million among Nadra-verified 49,857 IDP families

The Fata Disaster Management Authority (FDMA) has so far disbursed Rs 759.083 million as compensation amount among NADRA verified 49,857 internally displaced families from North Waziristan Agency till the closing of the registration by July 15. "A total o
Published 21 Jul, 2014 12:00am
'KP DMA striving to provide better health facilities to IDPs'

'KP DMA striving to provide better health facilities to IDPs'

The Khyber Pakhtunkhwa Disaster Management Authority is making all out efforts to facilitate the Internally Displaced Persons (IDPs) of North Waziristan Agency. Talking to Radio Pakistan on Sunday, Focal Person of Provincial Disaster Management Authority,
Published 21 Jul, 2014 12:00am
MQM distributes Eid clothes among HPC employees

MQM distributes Eid clothes among HPC employees

Muttahida Qaumi Movement, Hyderabad zone, on behalf of MQM chief Altaf Hussain on Sunday distributed Eid clothes among the employees of Hyderabad Press Club. In this regard a delegation of MQM led by the party's joint zonal incharge Rashid Mumtaz, zonal c
Published 21 Jul, 2014 12:00am
Prime Minister leaves for Umrah in commercial flight

Prime Minister leaves for Umrah in commercial flight

Prime Minister Muhammad Nawaz Sharif left for Saudi Arabia on Sunday for performing Umrah in a normal commercial flight. A press release issued by Prime Minister's House said that Nawaz Sharif left for Saudi Arabia in a normal commercial flight with 12 fa
Published 21 Jul, 2014 12:00am
JI delegation to visit IDPs camps

JI delegation to visit IDPs camps

A Jamaat e Islami delegation led by JI Secretary General, Liaqat Baloch, will visit the IDPs relief camps in Bannu and adjoining areas tomorrow, July 21 to review the relief arrangements of the JI and Al-Khidmat Foundation, there.
Published 21 Jul, 2014 12:00am
Tailors fully manoeuvring situation ahead of Eid festivity

Tailors fully manoeuvring situation ahead of Eid festivity

After verbal refusal for not accepting more cloth for stitching, tailors of twin cities have placed boards of `No More Booking, leaving no option for belated customers except buying readymade suitings.
Published 21 Jul, 2014 12:00am
Government trying to adopt policy to control inflation

Government trying to adopt policy to control inflation

Punjab Food Minister Bilal Yasin has said that government is following a concrete and comprehensive policy to control inflation and facilitate the masses. He said that the Chief Minister Punjab himself is monitoring the performance of the administrations
Published 21 Jul, 2014 12:00am
New School Program: PEF launches expansion phase five

New School Program: PEF launches expansion phase five

Punjab Education Foundation (PEF) has launched expansion phase five of its 'New School Program' (NSP) in nine selected districts in Punjab to provide free school education to more deserving children who cannot afford it on their own. As much as 11 thousan
Published 21 Jul, 2014 12:00am
'6,667 functional literacy centres being set up'

'6,667 functional literacy centres being set up'

Provincial Parliamentary Secretary on Information & Culture Rana Muhammad Arshad has said that 6,667 functional literacy centres are being set up in model tehsils of the province. He said that one million uneducated adult will be provided education under
Published 21 Jul, 2014 12:00am
Loadshedding: 'all-out resources being utilised to resolve issue'

Loadshedding: 'all-out resources being utilised to resolve issue'

Punjab Chief Minister Muhammad Shahbaz Sharif has said that government is making serious efforts for resolving energy crisis and power projects are being executed expeditiously. He said that short, medium and long term planning has been made to overcome s
Published 21 Jul, 2014 12:00am
FPCCI lauds decision to sell shares of PIA, Fesco

FPCCI lauds decision to sell shares of PIA, Fesco

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Sunday lauded the decision of the government to sell shares of Pakistan International Airlines (PIA) with management control. "Privatisation is the integral part of the ongoing proces
Published 21 Jul, 2014 12:00am
Hot, humid weather likely in most parts of country

Hot, humid weather likely in most parts of country

The Meteorological department has said that no significant weather system is expected to approach from 21st to 26th July 2014. Monsoon activity would remain subdued during next two to three days.
Published 21 Jul, 2014 12:00am
Punjab planning to set up 350 permanent Sastay Bazaars

Punjab planning to set up 350 permanent Sastay Bazaars

The Punjab government is seriously considering the proposal of maintaining 350 Ramazan bazaars on permanent basis throughout the province to control prices of essential edible items. These Ramazan bazaars will operate throughout the year under the name of
Published 21 Jul, 2014 12:00am
South Sudan rebels launch new offensive despite truce

South Sudan rebels launch new offensive despite truce

South Sudanese rebels launched an offensive to retake a key town near the border with Ethiopia on Sunday in what the United Nations said was a clear violation of a truce agreement. "This attack represents the most serious resumption of hostilities" since
Published 21 Jul, 2014 12:00am
Costa Concordia almost ready for final voyage

Costa Concordia almost ready for final voyage

The massive hulk of the Costa Concordia is nearly ready to be towed away from the Italian island where it struck a rock and capsized two-and-a-half years ago, killing 32 people, officials said on Sunday. The rusting prow of the once-gleaming white luxury
Published 21 Jul, 2014 12:00am
World AIDS forum opens to tribute for plane dead

World AIDS forum opens to tribute for plane dead

A six-day world forum on AIDS got underway on Sunday to tributes to six campaigners killed on Malaysia Airlines flight MH17 and fresh vows to crush a disease that has claimed twice as many lives as World War I. Thousands of delegates at the 20th Internati
Published 21 Jul, 2014 12:00am
Snowden seeks to develop anti-surveillance technologies

Snowden seeks to develop anti-surveillance technologies

Edward Snowden, a former US spy agency contractor who leaked details of major US surveillance programs, called on supporters at a hacking conference to spur development of easy-to-use technologies to subvert government surveillance programs around the glo
Published 21 Jul, 2014 12:00am
Belgian king urges speedy formation of new government

Belgian king urges speedy formation of new government

Belgium's King Philippe on Sunday urged his country's fractious politicians to form a national government as speedily as possible as negotiations drag on after May elections. "You elected the men and women to represent you for the next five years on May 2
Published 21 Jul, 2014 12:00am
Iran eliminates sensitive stockpile under interim nuclear deal: IAEA

Iran eliminates sensitive stockpile under interim nuclear deal: IAEA

Iran has moved to eliminate its most sensitive stockpile of enriched uranium gas under an interim nuclear deal reached with six world powers last year, according to a monthly update by the UN nuclear watchdog obtained by Reuters on Sunday.
Published 21 Jul, 2014 12:00am
Bosnia buries 284 war victims two decades on

Bosnia buries 284 war victims two decades on

Thousands gathered on Sunday for a final farewell to 284 people killed in Bosnia's 1992-1995 war, after their remains were exhumed from one of the largest mass graves found in the country. "I hope it will be easier now," said 48-year-old Suad Tatarevic, w
Published 21 Jul, 2014 12:00am
China typhoon death toll rises to 17 as more rain expected

China typhoon death toll rises to 17 as more rain expected

The death toll from the strongest storm to hit China in decades has reached 17, state media said Sunday, as forecasters issued warnings of more extreme weather. Typhoon Rammasun has left eight people dead in the island province of Hainan and another nine
Published 21 Jul, 2014 12:00am
ETA says dismantles its military wing

ETA says dismantles its military wing

Armed Basque separatist group ETA has dismantled its military wing and set up a group to finalise the deactivation of any remaining weapons and explosives, according to an ETA statement in a Basque newspaper on Sunday.
Published 21 Jul, 2014 12:00am
Syrian regime lost 60 in gas field offensive

Syrian regime lost 60 in gas field offensive

The Syrian regime offensive to retake a gas field in the centre of the country after jihadists killed 270 people has left 60 soldiers dead, a media report said Sunday. Citing a military source, Al-Watan newspaper which has strong government links announce
Published 21 Jul, 2014 12:00am
Veteran Hong Kong activists urge Britain to speak up for freedom

Veteran Hong Kong activists urge Britain to speak up for freedom

Leading Hong Kong pro-democracy activists on Sunday urged Britain to defend freedoms in its former colony instead of its "shameful" pursuit of trade with China. Former Hong Kong number two official Anson Chan and campaigner Martin Lee made the remarks fol
Published 21 Jul, 2014 12:00am
LATAM Airlines says agreed deal with Venezuela

LATAM Airlines says agreed deal with Venezuela

LATAM Airlines, Latin America's biggest airline, said it had agreed a deal with Venezuela for the repatriation of funds owed to the company. The total debt for fiscal 2013 of around $148 million would be repaid according to a payment plan proposed by the
Published 21 Jul, 2014 12:00am
Dubai's stock tumbles on Arabtec

Dubai's stock tumbles on Arabtec

Dubai's stock market plunged on Sunday as builder Arabtec triggered another sell-off, while investors in Saudi Arabia and Qatar were disappointed by fresh quarterly earnings reports. The slide in Dubai illustrated the extent to which the market remains do
Published 21 Jul, 2014 12:00am
Overlooked Nordic stocks attract euro-weary investors

Overlooked Nordic stocks attract euro-weary investors

Overlooked stocks in the Nordic region are attracting increased attention from investors seeking to escape the stretched valuations and uneven growth of the eurozone. While investors are faced with market peaks in the currency bloc, though economic perfor
Published 21 Jul, 2014 12:00am
Wall Street week ahead: one volatile day does not a correction make

Wall Street week ahead: one volatile day does not a correction make

Volatility spiked on Thursday after the tragedy of a downed civilian jetliner in Ukraine and the mounting death toll in Gaza and Israel interrupted the summer trading slumber. Still, the bears may have to wait a while to call the start of a correction.
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
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
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
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
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
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
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
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
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
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
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