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Print - 2014-08-02
Uncertainty grows after India blocks WTO trade deal

Uncertainty grows after India blocks WTO trade deal

Several member states of the World Trade Organisation voiced frustration after India's demands for concessions on agricultural stockpiling led to the collapse of the first major global trade reform pact in two decades. WTO ministers had already agreed the
Published 02 Aug, 2014 12:00am
Paramilitary soldier killed by Afghan fire

Paramilitary soldier killed by Afghan fire

A paramilitary soldier was killed on Friday by cross-border fire from Afghanistan in the north-western mountainous tribal region of Bajaur, military officials said. "A paramilitary soldier embraced martyrdom due to terrorists' fire from across the border
Published 02 Aug, 2014 12:00am
Paramilitary soldier killed by Afghan fire

Paramilitary soldier killed by Afghan fire

A paramilitary soldier was killed on Friday by cross-border fire from Afghanistan in the north-western mountainous tribal region of Bajaur, military officials said. "A paramilitary soldier embraced martyrdom due to terrorists' fire from across the border
Published 02 Aug, 2014 12:00am
36 bodies recovered after bathing deaths

36 bodies recovered after bathing deaths

At least nine more bodies of men who had ventured into the seas during the Eid holidays were recovered on Friday, raising the death toll in the Clifton beach tragedy to 36. Although Navy's search operation was still continuing, family members of the victi
Published 02 Aug, 2014 12:00am
36 bodies recovered after bathing deaths

36 bodies recovered after bathing deaths

At least nine more bodies of men who had ventured into the seas during the Eid holidays were recovered on Friday, raising the death toll in the Clifton beach tragedy to 36. Although Navy's search operation was still continuing, family members of the victi
Published 02 Aug, 2014 12:00am
The Weather

The Weather

The weather report on Friday (August 01, 2014) and the forecast for Saturday (August 02, 2014).

Published 02 Aug, 2014 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 02 Aug, 2014 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 02 Aug, 2014 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (August 01, 2014).

Published 02 Aug, 2014 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (August 01, 2014).

Published 02 Aug, 2014 12:00am
BRIDGE NOTES: Not again and again

BRIDGE NOTES: Not again and again

Defense at Bridge has different levels according to the defenders' ability. Let me test yours on the following deal bid as under with partner leading 9H to defend 4S bid as under:
Published 02 Aug, 2014 12:00am
Fanboys and girls grapple with change as Comic Con under way

Fanboys and girls grapple with change as Comic Con under way

Captain America is now black, Thor becomes a woman, and comic character Archie Andrews is shot and killed while saving his gay friend. The annual pop-culture carnival that is the Comic-Con Festival got under way in San Diego last Thursday with fans welcom
Published 02 Aug, 2014 12:00am
'Planet of Apes' sequel swings in to rave reviews

'Planet of Apes' sequel swings in to rave reviews

"Dawn of the Planet of the Apes" swings into the US box office accompanied by rave reviews for a film pitting humans against their Simian cousins again, in spectacular fashion. Starring Gary Oldman, the sequel to 2011's "Rise of the Planet of the Apes" co
Published 02 Aug, 2014 12:00am
Pearce and Pattinson form unlikely friendship in Michod's film 'Rover'

Pearce and Pattinson form unlikely friendship in Michod's film 'Rover'

After winning over critics with the complex, dark family drama "Animal Kingdom" for his directorial debut, director David Michod wanted to pare things back to tell a simpler story about survival in his next film. "The Rover," follows a lone character, Er
Published 02 Aug, 2014 12:00am
Douglas, Keaton get second chance at love in 'And So It Goes'

Douglas, Keaton get second chance at love in 'And So It Goes'

Michael Douglas is more accustomed to playing dashing leading men and corporate types, so he took a deep breath when offered the role of an ornery widower with a second chance for love in the romantic comedy "And So It Goes." The film reunites the Oscar-w
Published 02 Aug, 2014 12:00am
Is volatile fuel used in racing cars a new power source for ships?

Is volatile fuel used in racing cars a new power source for ships?

Methanol, a fuel used to power light aircraft and racing cars, is being tried out as alternative for ships, highlighting its potential in an industry under pressure to cut emissions. From next year, shipping firms will have to cut polluting sulphur emissi
Published 02 Aug, 2014 12:00am
Hoopsters put circus-inspired spin on cardio workout

Hoopsters put circus-inspired spin on cardio workout

It has been a circus prop, a toy and a 1950s fad, and now the hula hoop is making a comeback as a workout tool that fitness experts say provides an effective cardio and even meditative workout. A new generation of hoop activists is putting another spin on
Published 02 Aug, 2014 12:00am
Stress can be contagious, researchers find

Stress can be contagious, researchers find

Stress, like yawning, can be contagious, researchers in Germany have found. They said that simply observing someone in a stressful situation often causes a person's body to release the stress hormone cortisol, a phenomenon they term "empathetic stress."
Published 02 Aug, 2014 12:00am
India's demonised mothers-in-law get bad rap in new book

India's demonised mothers-in-law get bad rap in new book

Young Indian women fear and loathe her. Soap operas showcase her iron-fisted rule. And sociologists spend hours debating the torment she is accused of unleashing across the country. Mothers-in-law have long been demonised and parodied all over the world.
Published 02 Aug, 2014 12:00am
Spider silk making mark in medicine, cosmetics

Spider silk making mark in medicine, cosmetics

With their eight hairy, scurrying legs, their fat bodies and sticky webs, spiders can be really creepy. But they have a skill that humans have long sought to replicate: they spin threads of silk with a tensile strength four times greater than that of stee
Published 02 Aug, 2014 12:00am
Sunscreen salvos: US products pale next to Europe's protective salves

Sunscreen salvos: US products pale next to Europe's protective salves

While European beach-goers will be slathering on the latest sunscreen products this summer, Americans must make do with what they've been using for the past 15 years. The US Food and Drug Administration (FDA) has not added any new sunscreen ingredients to
Published 02 Aug, 2014 12:00am
ART FACTS: Fusion of women contemporary art

ART FACTS: Fusion of women contemporary art

Women artists have been involved in making art in most times and places around the world. The women artists through the centuries faced challenges due to gender biases in the mainstream fine art world. They have often encountered difficulties in training,
Published 02 Aug, 2014 12:00am
KARACHI CHRONICLE: Dress Dilemma

KARACHI CHRONICLE: Dress Dilemma

How we look and how we dress these days; let's compare it to the image we presented when this nation was new born and so down the decades to the present time. One remarkable difference between then and now is the number of women in burqas and hijab and me
Published 02 Aug, 2014 12:00am
British royal childhood memories go on show

British royal childhood memories go on show

A special exhibition on childhood in the British royal family is to opened at Buckingham Palace last, featuring well-loved toys spanning 250 years including a gadget-laden miniature James Bond supercar. The Royal Childhood exhibition at the London palace
Published 02 Aug, 2014 12:00am
Operation Zarb-e-Azb: A turning point in war against terrorism

Operation Zarb-e-Azb: A turning point in war against terrorism

For more than a decade, we as a nation have stood derided of peace and tranquility. The whole nation was held hostage by a handful of terrorists who played havoc with the blood of the innocent people, sadly, in the name of shariah of their own brand. The
Published 02 Aug, 2014 12:00am
US soyabeans basis offers lower

US soyabeans basis offers lower

US FOB Gulf soybean basis offers were 10 cents to 15 cents a bushel lower for new-crop loadings on Thursday night with traders citing China buyers taking a breather after the hectic pace over the last two weeks. Corn and wheat basis offers were steady to
Published 02 Aug, 2014 12:00am
Joint investigation team to probe Chakdara tragedy

Joint investigation team to probe Chakdara tragedy

KP Chief Minister Pervez Khattak said that the provincial government has started high level investigation into attack on the residence of QWP MPA Bakhtbaidar Khan in Chakdara, district Dir Lower. In a condolence message to QWP legislator, the chief minist
Published 02 Aug, 2014 12:00am
PML-N Sindh launches Independence Day celebrations

PML-N Sindh launches Independence Day celebrations

Local leadership of Pakistan Muslim League (PML-N) launched month-long Independence Day celebrations by hoisting national flag at Numaish Chowrangi in front of Mazar-e-Quaid here on Friday.
Published 02 Aug, 2014 12:00am
Acid thrown on mother, daughter in Sadiqabad

Acid thrown on mother, daughter in Sadiqabad

Unidentified persons on Friday threw acid on two women of a family including mother and her daughter in Satellite Town area. According to police sources, a woman named Momina 40 and her daughter Amna 18 were sitting in the lawn of their house when unknown
Published 02 Aug, 2014 12:00am
PTI won't quit assemblies: Alvi

PTI won't quit assemblies: Alvi

Pakistan Tehreek-e-Insaf Member National Assembly from Karachi, Dr Arif Alvi has said the PTI would not quit any seat from provincial assembly of Khyber Pakhtunkhwa or national assembly until the demands for electoral reforms were accepted and implemented
Published 02 Aug, 2014 12:00am
Probe into murders of two Hindu traders demanded

Probe into murders of two Hindu traders demanded

Surendar Valasai, Advisor on Minority Affairs to Bilawal Bhutto Zardari, Patron-In-Chief Pakistan Peoples Party has condemned the brutal killings of two young Hindu traders at the hands of armed dacoits in Umerkot city and demanded Umerkot police to ferre
Published 02 Aug, 2014 12:00am
CEO TDAP underscores need for political stability

CEO TDAP underscores need for political stability

The prominent business leader and CEO TDAP SM Muneer said Friday that Pakistan at present is in a state of war and cannot afford any kind of political conflict, therefore, all the political parties should stop all kinds of political processions and protes
Published 02 Aug, 2014 12:00am
KATI opposes long spell of holidays

KATI opposes long spell of holidays

Syed Farukh Mazhar, President KATI, Mian Zahid Hussain, President All Karachi Industrial Alliance, Hasham A. Razzak, Senior Vice President, Faraz-ur-Rehman, Vice President KATI strongly opposed the announcement of four continuous Eid holidays from July 29
Published 02 Aug, 2014 12:00am
Students develop new technique to melt metals

Students develop new technique to melt metals

A group of students of Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology (SZABIST) Karachi campus has successfully developed the technology of melting steel/aluminium and other metals through microwaves. The development of this technology en
Published 02 Aug, 2014 12:00am
No 'long march' can create hurdles in the path of progress: Shahbaz

No 'long march' can create hurdles in the path of progress: Shahbaz

Punjab Chief Minister Muhammad Shahbaz Sharif has said the Pakistan Muslim League-N government was trying to steer the country out of problems in accordance with the heavy mandate given by the people and put it on the road to progress and development. He
Published 02 Aug, 2014 12:00am
Election reforms: meeting of parliamentary body on August 6

Election reforms: meeting of parliamentary body on August 6

The maiden meeting of the parliamentary committee on electoral reforms is expected to be held on August 6 in which it will elect its chairman. Well placed sources in the government told INP on Friday that Finance Minister Senator Ishaq is likely to be ele
Published 02 Aug, 2014 12:00am
Nano Bio-Solutions Centre to be inaugurated today

Nano Bio-Solutions Centre to be inaugurated today

Federal Secretary Parliament, Cabinet Division Raja Muhammad Javed Ikhlas will inaugurate the first of its kind Nano Bio Solution Agri-Cooperative Resource Centre on August 2, at the Union Council Manghout, Village Jamal, Tehsil Gujerkhan District Rawalpi
Published 02 Aug, 2014 12:00am
There're no contacts with government: Qureshi

There're no contacts with government: Qureshi

Pakistan Tehreek-i-Insaf vice chairman Shah Mehmood Qureshi on Friday strongly denied claims of the ruling Pakistan Muslim League-Nawaz that the government was in touch with certain PTI leaders to call off the 'million march' on Islamabad scheduled for Au
Published 02 Aug, 2014 12:00am
'Police to utilise all resources to curb crimes'

'Police to utilise all resources to curb crimes'

DIG Operations Dr Haider Ashraf Friday said that the available resources will be utilized to curb crimes and eliminate criminals from the city. Presiding over a meeting here, he directed the SPs to maintain law and order in the city and conduct a meeting
Published 02 Aug, 2014 12:00am
12 outlaws held; drugs and weapons recovered

12 outlaws held; drugs and weapons recovered

Rawalpindi police on Friday arrested 12 outlaws and recovered drugs, weapons, bottles of liquor from their possession. According to police spokesman, the Rawat police arrested Sagheer Anjum and recovered 1230 grams of marijuana from his possession while W
Published 02 Aug, 2014 12:00am
Pakistan, India inch along dialogue path

Pakistan, India inch along dialogue path

The most important development that has taken place ahead of talks of foreign secretaries of India and Pakistan scheduled to be held on August 25 in Islamabad is Pakistan government's announcement that it would restart work on improving trade ties when th
Published 02 Aug, 2014 12:00am
Corporate reports signal stronger US commercial building recovery

Corporate reports signal stronger US commercial building recovery

Rising orders and increasing optimism from companies like United Technologies Corp and Tyco International point to a strengthening recovery in the US commercial construction market, which has been limping back since bottoming more than three years ago.
Published 02 Aug, 2014 12:00am
Stagnant minds

Stagnant minds

What does it take to change a mind of an individual and of a nation collectively? We see deep ingrained attitudes in all nations but there is a difference when these attitudes are positive or otherwise. As a civil servant the exponential experience that I
Published 02 Aug, 2014 12:00am
Criminal dereliction of duty

Criminal dereliction of duty

Like every Eid day, this time too thousands of Karachiites headed to the seafront at the two popular recreation spots, Clifton and Hawkes Bay beaches, to celebrate Eid. Atleast 36 of them, all young people like 12-year-old Mazhar, 17-year-old Khizar, 19-y
Published 02 Aug, 2014 12:00am
Transparency is the key to sell-off success

Transparency is the key to sell-off success

The appointment of Financial Advisors/Consultants for the next round of sell-off of Public Sector Enterprises (PSEs) has raised some eyebrows. The Privatisation Commission (PC) Board has just counter-stamped - in every case - the recommendation it receive
Published 02 Aug, 2014 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 02 Aug, 2014 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 02 Aug, 2014 12:00am
US cotton down third day as stock fears offset firm export data

US cotton down third day as stock fears offset firm export data

US cotton futures fell for a third straight session on Thursday, plumbing five-year lows, as traders shrugged off positive weekly exports data to focus again on a heavily supplied market for fibre. The most-active December cotton contract on ICE Futures U
Published 02 Aug, 2014 12:00am
Shanghai copper slips

Shanghai copper slips

The most traded October copper contract on the Shanghai Futures Exchange slipped by 0.2 percent to 50,330 yuan ($8,200) a tonne on Friday as copper was underpinned on Friday by expanding factory activity in China that heralded a rosier outlook for demand,
Published 02 Aug, 2014 12:00am
Copper falls; nickel hits lowest level since June 25

Copper falls; nickel hits lowest level since June 25

Copper dipped on Friday after Chinese data showing manufacturing growth was not enough to outweigh prospects for slowing economic growth and a weaker-than-expected US jobs report. US jobs growth slowed in July and an unexpected rise in the unemployment ra
Published 02 Aug, 2014 12:00am
Oil prices tumble on oversupply, weak demand

Oil prices tumble on oversupply, weak demand

Brent and US crude futures tumbled on Friday to the lowest settlement prices in months, as oversupply in the Atlantic basin and low demand outweighed worries over political tensions in the Middle East, North Africa and Ukraine. Oil prices ended the week d
Published 02 Aug, 2014 12:00am
Rubber futures down

Rubber futures down

Tokyo rubber futures fell more than 3 percent on Friday tracking falls in Japanese shares, but found some support as oil prices steadied, dealers said. However, TOCOM prices still posted their biggest weekly gain in 1-1/2 month on steadier oil prices, whi
Published 02 Aug, 2014 12:00am
French wheat harvest 76 percent complete

French wheat harvest 76 percent complete

The soft wheat harvest in France was 76 percent complete as of July 28, against 44 percent a week earlier, data from farm office FranceAgriMer showed on Friday, suggesting farmers made good progress before heavy rain last weekend.
Published 02 Aug, 2014 12:00am
Soyabeans and wheat rise

Soyabeans and wheat rise

US soyabean futures rose on Thursday on signs that demand will keep domestic supplies tight until harvest, while corn weakened due to forecasts for more crop-boosting rain in the US Midwest, traders said. "The beans firmed up due to some speculators takin
Published 02 Aug, 2014 12:00am
Palm oil soars

Palm oil soars

Malaysian palm oil futures rose on Friday, recording their first weekly gain in five and their biggest since late April, as a weaker local currency spurred buying interest for the ringgit-denominated palm feedstock. The Malaysian ringgit was at 3.2090 per
Published 02 Aug, 2014 12:00am
Coffee jumps

Coffee jumps

ICE arabica coffee futures jumped over 5 percent to a three-month high on Friday as forecasts for lower 2014/15 Brazil output revived worries over drought damage in the world's top grower. ICE raw sugar fell to a 5-1/2-month low, pressured by plentiful ne
Published 02 Aug, 2014 12:00am
Gold falls in New York

Gold falls in New York

Gold fell 1 percent to a six-week low on Thursday, ignoring sharp losses in the S&P 500 equities index, as strong US wage growth data and signs of an improving job market reduced the need for safe-haven buying. Spot gold fell 1 percent to $1,282.15 an oun
Published 02 Aug, 2014 12:00am
Gold near six-week low in Asia

Gold near six-week low in Asia

Gold held near a six-week low on Friday and was on track for a third straight weekly loss as US economic optimism offset any safe-haven demand from geopolitical tensions. Spot gold edged up slightly to $1,283.90 an ounce by 0632 GMT, after falling 1 perce
Published 02 Aug, 2014 12:00am
Gold climbs in Europe

Gold climbs in Europe

Gold rose 1 percent on Friday a day after touching a six-week low as US payrolls data missed expectations, dampening talk of an early interest rate rise by the Federal Reserve and pressuring the dollar. A string of upbeat reports on the US economy, includ
Published 02 Aug, 2014 12:00am
US MIDDAY: wheat gains

US MIDDAY: wheat gains

US wheat futures rose on Friday for the third straight day on hopes US supplies will gain more traction on the export market owing to concerns about the quality of European crops, traders said. High-protein K.C. hard red winter wheat, prized by exporters,
Published 02 Aug, 2014 12:00am
US MIDDAY: gold surges

US MIDDAY: gold surges

Gold rose nearly 1 percent early on Friday, snapping a four-day losing streak, as disappointing US nonfarm payrolls data dampened talk of an early interest rate rise by the Federal Reserve and increased bullion's appeal as a hedge. The yellow metal, howev
Published 02 Aug, 2014 12:00am
Canadian canola futures ease

Canadian canola futures ease

ICE Canadian canola futures reversed from earlier gains to close narrowly lower on Thursday in thin volume as investors squared positions ahead of the release of crop tour data, traders said. There were few farmer sales or aggressive buying by crushers of
Published 02 Aug, 2014 12:00am
EU awards 540,000 tonnes of wheat for exports

EU awards 540,000 tonnes of wheat for exports

The European Union this week granted export licences for 540,000 tonnes of soft wheat, taking the total since the beginning of the 2014/2015 season on July 1 to 1.3 million tonnes, official data showed on Thursday. The EU also this week granted licences t
Published 02 Aug, 2014 12:00am
Ukraine's grain exports jump in July

Ukraine's grain exports jump in July

Ukraine's grain exports rose to 2.03 million tonnes in July, the first month of the 2014/15 season, from 853,800 tonnes sold abroad in June, the Ukrainian agriculture ministry said on Thursday. The ministry said in a statement the volume included 824,000
Published 02 Aug, 2014 12:00am
Prices higher in Europe's vegoil market

Prices higher in Europe's vegoil market

Prices in Europe's vegetable oil market were higher early on Tuesday but gains were eroded as Chicago soyaoil retreated, while a holiday in Malaysia ensured palm oil activity was subdued. "The past two days have been terrible. Nobody has been willing to g
Published 02 Aug, 2014 12:00am
US Midwest soya and corn bids lower

US Midwest soya and corn bids lower

Spot soyabean and corn basis bids were steady to lower at elevators and processors around the US Midwest on Thursday in very light trade, dealers said. Dealers noted very light corn movement as farmers move remaining bushels from storage to prepare for fa
Published 02 Aug, 2014 12:00am
Taiwan buys 84,800 tonnes of US wheat

Taiwan buys 84,800 tonnes of US wheat

The Taiwan Flour Millers' Association has purchased 84,800 tonnes of milling wheat to be sourced from the United States, in a tender for that volume which closed on Thursday, European traders said. The wheat was sought in two consignments, with shipment b
Published 02 Aug, 2014 12:00am
Vietnam's coffee trade slow on weaker prices

Vietnam's coffee trade slow on weaker prices

Vietnam's coffee market was quiet this week as low prices discouraged sellers from offloading stocks while buyers were still well-supplied, traders said on Tuesday. Selling at a slow pace could help Vietnam, the world's top robusta producer, maintain suff
Published 02 Aug, 2014 12:00am
Indian guar futures slide as heavy rainfall boosts sowing

Indian guar futures slide as heavy rainfall boosts sowing

Indian guar seed futures fell sharply on Wednesday as heavy rainfall over the main producing state of Rajasthan boosted sowing of the crop. Guar seed futures are expected to open weaker in the next session as the western state is forecast to receive heavy
Published 02 Aug, 2014 12:00am
HRW wheat bids steady

HRW wheat bids steady

Spot basis bids for hard red winter wheat held steady in the southern US Plains on Thursday and farmer offerings were light as the harvest progressed farther north, in South Dakota and Montana. USDA reported export sales of US wheat in the latest week at
Published 02 Aug, 2014 12:00am
CBOT wheat futures higher

CBOT wheat futures higher

Wheat futures on the Chicago Board of Trade rose on Thursday on improving export prospects for US grain, coupled with end-month short-covering, traders said. K.C. hard red winter wheat led the gains on stronger-than-expected weekly US all-wheat export sal
Published 02 Aug, 2014 12:00am
US natural gas futures rise 1 percent

US natural gas futures rise 1 percent

US natural gas futures ended up over 1 percent on Thursday on forecasts for warmer weather following a government report of a smaller-than-expected storage build. The US Energy Information Administration said utilities added 88 billion cubic feet of gas i
Published 02 Aug, 2014 12:00am
Chinese steel, iron ore at one-week highs

Chinese steel, iron ore at one-week highs

Chinese steel and iron ore futures rose to their highest in more than a week on Tuesday on hopes that a brightening economic outlook would spur demand for the two commodities, although property sector risks kept advances in check. Stocks in Hong Kong edge
Published 02 Aug, 2014 12:00am
EU wheat hits new four-year low on rising global supply

EU wheat hits new four-year low on rising global supply

European wheat futures slipped to a four-year low on Tuesday as advancing harvests in the northern hemisphere underlined rising global supply and tough export competition. On the Paris-based Euronext futures market, November milling wheat fell as much as
Published 02 Aug, 2014 12:00am
Russian wheat export prices fall

Russian wheat export prices fall

Russian export prices for wheat fell for the third week in a row due to a strong crop outlook, analysts said on Monday. Russia, one of the world's key wheat exporters via the Black Sea, is likely to harvest 57.5 million tonnes of wheat in 2014, IKAR, a le
Published 02 Aug, 2014 12:00am
P&G to sell up to 100 brands to revive sales, cut costs

P&G to sell up to 100 brands to revive sales, cut costs

Procter & Gamble Co, the world's largest household products maker, said it could sell about half of its brands in an effort to revive sales growth and cut costs, sending its shares up as much as 4 percent. P&G, under pressure to launch innovative products
Published 02 Aug, 2014 12:00am
P&G to sell up to 100 brands to revive sales, cut costs

P&G to sell up to 100 brands to revive sales, cut costs

Procter & Gamble Co, the world's largest household products maker, said it could sell about half of its brands in an effort to revive sales growth and cut costs, sending its shares up as much as 4 percent. P&G, under pressure to launch innovative products
Published 02 Aug, 2014 12:00am
Fiat gets green light for global reorganisation

Fiat gets green light for global reorganisation

Fiat shareholders on Friday approved the reorganisation of the Italian carmaker's business that will see its headquarters move to the Netherlands before it launches on Wall Street later this year. The changes will also see the new company renamed Fiat Chr
Published 02 Aug, 2014 12:00am
Apple closes acquisition of Beats music

Apple closes acquisition of Beats music

Apple said Friday it closed its $3 billion deal for Beats, the high-end audio equipment and streaming music service, a tie-up that could allow the iPhone maker to reach new audiences. "Today we are excited to officially welcome Beats Music and Beats Elect
Published 02 Aug, 2014 12:00am
Regulator suspends BES shares

Regulator suspends BES shares

Portugal's CMVM securities market regulator suspended trading in shares of Banco Espirito Santo, pending new information to be released by the bank, after the stock plunged another 40 percent on Friday, adding to Thursday's 42 percent dive. Investors took
Published 02 Aug, 2014 12:00am
Portugal mulls use of state funds as part of BES hike

Portugal mulls use of state funds as part of BES hike

Portuguese authorities are considering the use of public funds to shore up Banco Espirito Santo's capital, complementing new money from investors, people close to the process said on Friday. One source said BES will likely need 3 billion euros ($4 billion
Published 02 Aug, 2014 12:00am
Western Union profit falls

Western Union profit falls

Western Union Co, the world's largest money-transfer company, reported a 2 percent fall in quarterly profit as compliance costs rose. The company faces rising costs as regulators world-wide crack down on money laundering and said that such costs would con
Published 02 Aug, 2014 12:00am
Western Union profit falls

Western Union profit falls

Western Union Co, the world's largest money-transfer company, reported a 2 percent fall in quarterly profit as compliance costs rose. The company faces rising costs as regulators world-wide crack down on money laundering and said that such costs would con
Published 02 Aug, 2014 12:00am
Europe's investment banks resilient in retreat

Europe's investment banks resilient in retreat

Europe's investment banks are giving Wall Street a run for its money despite shrinking their trading arms more aggressively than US rivals. Buoyant equity markets and a surge in corporate debt issues have caused a bigger-than-expected jump in investment b
Published 02 Aug, 2014 12:00am
Putin's new sales tax shows pain of Russia's policy dilemmas

Putin's new sales tax shows pain of Russia's policy dilemmas

Russia's new tax on sales, backed by President Vladimir Putin, illustrates growing economic strains from Western sanctions over Ukraine - and the lack of easy solutions. Under the tax plan, regional governments will have the option from next year to intro
Published 02 Aug, 2014 12:00am
US auto sales growth slowed in July

US auto sales growth slowed in July

US auto sales growth slowed a bit in July, with healthy gains from some manufacturers falling short of expectations, according to early returns from the major carmakers on Friday. Ford Motor Co reported a gain of 10 percent to 212,236 vehicles, slightly b
Published 02 Aug, 2014 12:00am
US job growth cools, unemployment rate rises

US job growth cools, unemployment rate rises

US job growth slowed in July and the unemployment rate unexpectedly rose, pointing to slack in the labour market that could give the Federal Reserve room to keep interest rates low for a while. Nonfarm payrolls increased 209,000 last month after surging b
Published 02 Aug, 2014 12:00am
China manufacturing gathers pace, Europe falters, US steady

China manufacturing gathers pace, Europe falters, US steady

Manufacturing activity in China and most of Asia gathered pace in July, while expansion slowed in Europe but remained healthy in the United States. Measured by manufacturing purchasing managers' indices (PMIs) published on Friday, economic stimulus measur
Published 02 Aug, 2014 12:00am
Indian shares slump most in 3-1/2 weeks

Indian shares slump most in 3-1/2 weeks

India's NSE index fell 1.5 percent on Friday, marking its biggest single-day fall in nearly 3-1/2 weeks as blue chips such as Reliance Industries slumped tracking weaker global markets ahead of US jobs data later in the session.
Published 02 Aug, 2014 12:00am
Hong Kong and China shares lower

Hong Kong and China shares lower

Hong Kong stocks closed down 0.91 percent on Friday, despite the release of official figures showing Chinese manufacturing activity rose to a 27-month high in July. The benchmark Hang Seng Index fell 224.42 points to 24,532.43 on turnover of HK$79.90 bill
Published 02 Aug, 2014 12:00am
Friday's afternoon trade: stocks tumble in volatile session

Friday's afternoon trade: stocks tumble in volatile session

US stocks tumbled in a volatile session on Friday, marking a second straight day of sharp declines as the latest economic data provided little clarity as to when the Federal Reserve might raise interest rates. Stocks rose as much as 0.3 percent before tur
Published 02 Aug, 2014 12:00am
S&P index posts worst fall since April

S&P index posts worst fall since April

The US S&P500 stock index posted its worst daily fall since April and its first monthly drop since January on Thursday, as economic data sparked concern the Federal Reserve could raise interest rates sooner than some have expected. Data showing that US la
Published 02 Aug, 2014 12:00am
Sri Lankan stocks slips

Sri Lankan stocks slips

Sri Lankan stocks ended a tad weaker on Friday, snapping a four-day winning streak as investors booked profits in large-cap shares as foreigners exited risky assets ahead of a key US jobs report. The main stock index ended 0.06 percent, or 3.77 points, we
Published 02 Aug, 2014 12:00am
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