News Archives for Print - 2014-08-25

The Weather

The weather report on Sunday (August 24, 2014) and the forecast for Monday (August 25, 2014).

Published 25 Aug, 2014 12:00am

Returns on Profit and Loss Sharing Investment Bank Accounts (January to June 2014)

Comparative table of returns being given banks on their Profit and Loss Sharing Investment Accounts and Term Deposits.

Published 25 Aug, 2014 12:00am

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (August 18 to 22 2014).

Published 25 Aug, 2014 12:00am

Aaj TV - Monday's schedule

All timings are in PST (Pakistan Standard Time).

Published 25 Aug, 2014 12:00am

Obama urges Afghan candidates to reach unity government deal

President Barack Obama urged Afghanistan's two presidential candidates to finalize negotiations on forming a national unity government as soon as possible, the White House said Sunday. National Security Council spokeswoman Caitlin Hayden said Obama spoke

Published 25 Aug, 2014 12:00am

French 'experts' joining separatists: Ukraine rebel leader

The president of the self-declared pro-Russian People's Republic of Donetsk claimed on Sunday French military "experts" were joining separatist forces battling government troops in eastern Ukraine. "Tomorrow, we will receive officers from France.

Published 25 Aug, 2014 12:00am

Bangladesh arrests 11 over attempted sale of 'uranium'

Bangladesh police said on Sunday they have arrested 11 people suspected of trying to sell fake uranium as part of an elaborate scam. In a series of raids in Dhaka on Saturday, police swooped on the gang and recovered a leather box marked "USSR" containing

Published 25 Aug, 2014 12:00am

Commuters facing problems due to thin transport on roads

Commuters of the twin cities are facing problems as thin public transport has been plying since the Pakistan Tehreek-i-Insaf (PTI) and Pakistan Awami Tehreek (PAT) started sit-ins in the Federal Capital after leading so-called Azadi and Inqilab marches.

Published 25 Aug, 2014 12:00am

Political turmoil: Army shows utmost restraint: Mufti Munib

The Chairman of Central Ruet-e-Hilal Committee, Mufti Munib-u-Rehman, has said that the Pakistan army has showed utmost restraint during the current political turmoil in the country. Speaking at a press conference in Karachi on Sunday, he said the reactio

Published 25 Aug, 2014 12:00am

11 die in Khairpur road accident

At least 11 people were killed and nine others wounded when two buses collided with each other in the city area of Faiz Ganj in Sunday's wee hours. According to police sources, the two vehicles bumped into each other on Mehran National Highway near Faiz G

Published 25 Aug, 2014 12:00am

'LUMHS students' hostels allegedly converted into private lodges'

The hostel management of Liaquat University of Medical and Health Science (LUMHS) has allegedly converted the university student hostels into private lodges to make money from outsiders.

Published 25 Aug, 2014 12:00am

'Government too overstretched to understand market forces,' Chairman Karachi Wholesales Grocers Association

Anis Majeed is the Chairman of Karachi Wholesales Grocers Association (KWGA). He had worked as General Secretary for five terms (10 years) before serving as the Chairman of the Association. The members of the Association, more than 600 in numbers, are who

Published 25 Aug, 2014 12:00am

'Government too overstretched to understand market forces,' Chairman Karachi Wholesales Grocers Association

Anis Majeed is the Chairman of Karachi Wholesales Grocers Association (KWGA). He had worked as General Secretary for five terms (10 years) before serving as the Chairman of the Association. The members of the Association, more than 600 in numbers, are who

Published 25 Aug, 2014 12:00am

Imran's call for civil disobedience

Apropos 'Tax revolt or tax justice' carried by Business Recorder on Friday, the writers have plausibly argued that Imran Khan's call for civil disobedience has proved not only impracticable but also widely rejected. According to them, "it confirms

Published 25 Aug, 2014 12:00am

Inoki wrestles with North Korea 'sport diplomacy'

A Japanese wrestler-turned-politician hopes his vision of "sports diplomacy" can repair his country's fraught relationship with North Korea, as he prepares to host an extraordinary sporting event in Pyongyang.

Published 25 Aug, 2014 12:00am

'Modi effect' gets Delhi working, but reforms prove elusive

Prime Minister Narendra Modi has shaken up India's ruling elite in his first 100 days since taking power, but has so far struggled to deliver the bold reforms needed to kick-start the economy.

Published 25 Aug, 2014 12:00am

Energy crisis

The power sector is one of two sectors whose appallingly dismal performance remains of serious concern to international donor agencies (the other being Federal Board of Revenue). The World Bank has taken the lead in identifying an entire range of reforms

Published 25 Aug, 2014 12:00am

Cost of dodgy deals

While most of the countries in the developed world continue to pay the cost of dodgy mortgage deals in terms of immense losses to their economies, their financial systems have been made to suffer the consequences of their slyness and poor judgement. In ye

Published 25 Aug, 2014 12:00am

Don't opt for 'third umpire's' decision, please

PTI chairman Imran Khan has shown some flexibility, albeit reluctantly, in his stance towards the PML-N government. The government negotiators led by Punjab governor Mohammad Sarwar was told by his team that prime minister Nawaz Sharif must resign for 30

Published 25 Aug, 2014 12:00am

Mid-air collision in Switzerland leaves six seriously injured

A collision between two light aircraft in Switzerland on Sunday has left six people with serious injuries, according to police. One of the planes crashed in a field in the canton of St Gallen. Local police cited by Swiss news agency ATS said the four peop

Published 25 Aug, 2014 12:00am

South Sudan ceasefire monitor dies

A member of an East African regional body monitoring a ceasefire in South Sudan died of a heart attack after some monitors were detained by rebels to the north of the country, further complicating a peace process. Ethiopia's Seyoum Mesfin, the chief media

Published 25 Aug, 2014 12:00am

Four arrests as Macau police halt unofficial democracy poll

Four people were arrested as police shut down voting facilities in Macau after activists ignored strong objections from Beijing and held an unofficial referendum on electoral reform, the event organiser said. Residents of the Chinese gambling hub were tol

Published 25 Aug, 2014 12:00am

Ukraine rebel leader claims French 'experts' joining separatists

The president of the self-declared pro-Russian People's Republic of Donetsk claimed on Sunday French military "experts" were joining separatist forces battling government troops in eastern Ukraine. "Tomorrow, we will receive officers from France. They are

Published 25 Aug, 2014 12:00am

Rebels parade captured soldiers as Kiev marks independence day

Pro-Russian rebels in eastern Ukraine paraded dozens of captured soldiers before a jeering crowd on Sunday in mockery of Independence Day celebrations in the capital.

Published 25 Aug, 2014 12:00am

Merkel wants solution to Ukraine crisis that won't harm Russia

A solution must be found to the Ukraine crisis that does not hurt Russia and which the Ukrainian people must choose for themselves, German Chancellor Angela Merkel said on Sunday. "I want to find a way that doesn't harm Russia," Merkel told German ARD pub

Published 25 Aug, 2014 12:00am

French woman missing while trekking found dead in Crete

A French woman who went missing two days earlier while trekking with her partner in a mountainous part of Crete was found dead on Sunday, police said. The 62-year old woman's body was discovered lying on a steep path, three kilometres (1.8 miles) away fro

Published 25 Aug, 2014 12:00am

Erdogan seen softening style not substance as president

Tayyip Erdogan's caustic rhetoric has won him the devotion of Turkey's conservative Islamic heartlands, from his dismissal of political enemies as "worse than leeches" to his comparisons of Israel's actions in Gaza to those of Hitler.

Published 25 Aug, 2014 12:00am

France's leaders sink in polls amid calls for change of course

French Prime Minister Manuel Valls saw his approval rating drop to a new low of 36 percent this month, while Francois Hollande remained the most unpopular president in more than half a century, an Ifop poll showed on Sunday. Valls was appointed to lead th

Published 25 Aug, 2014 12:00am

Quake rocks California's Napa valley, causing damage

An earthquake of 6.0 magnitude rocked the San Francisco Bay area early on Sunday, seriously injuring two people, damaging historic buildings, setting some homes on fire and causing power outages in the wine country around Napa.

Published 25 Aug, 2014 12:00am

Malaysia Airlines jet turns back due to 'pressure' woes

A Malaysia Airlines plane was forced to turn back due to pressure problems inside the aircraft after being in the air for almost an hour, a top aviation watchdog official said Sunday. Azharuddin Abdul Rahman, director-general of the Department of Civil Av

Published 25 Aug, 2014 12:00am

Germany approves Rheinmetall's tank plant delivery to Algeria

Germany's Economy Ministry has approved plans by defence group Rheinmetall to deliver a tank assembly plant to Algeria, according to a reply sent by the ministry following a request from a member of parliament. Rheinmetall's delivery to Algeria includes a

Published 25 Aug, 2014 12:00am

TNFJ voices concern over prevailing political impasse

Central Secretary General of Tehreek Nifaz Fiqh-e-Jafariya (TNFJ) Syed Mazhar Ali Shah Advocate expressing his concern over the ongoing political impasse in the country said some unseen powers and opponents of Nazria-e-Asaasi on the encouragement of big p

Published 25 Aug, 2014 12:00am

JUI-F stages pro-democracy demonstrations in Sindh

The Jamiat Ulema-e-Islam-Fazl (JUI-F) on Sunday held rallies and demonstrations in different parts of Sindh to record its protest over the Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek's (PAT) sit-ins in Islamabad. Following Maulana Fazlur Reh

Published 25 Aug, 2014 12:00am

PML-N Sindh stages rally for solidarity with democracy

Pakistan Muslim League-Nawaz (PML-N) Sindh observed "Youm-e-Tahafuz-e-Jamhuriat" and staged rallies across the province on Sunday for the continuity of democratic system, protection of Parliament, and to express solidarity with party leadership.

Published 25 Aug, 2014 12:00am

Nisar directs double security for Red Zone

Interior Minister Chaudhry Nisar Ali Khan has directed to double the security of Red Zone after the claims of the PAT Dr Tahirul Qadri regarding entry of terrorists in the sit-in at the Constitution Avenue.

Published 25 Aug, 2014 12:00am

Marches causing Rs 150 billion daily loss: Munir

The marches in the capital have been causing a financial loss of Rs 150 billion daily to national economy, besides rendering a large number of daily-wagers jobless. Chief Executive, Trade Development Authority of Pakistan (TDAP), SM Munir, said on Sunday

Published 25 Aug, 2014 12:00am

Parties united to protect democratic system: Asif

Water, Power and Defence Minister Khawaja Muhammad Asif on Sunday said that protection of the Constitution, parliament and democracy was top on agenda of all political parties. The political parties were united to protect democracy from derailment and for

Published 25 Aug, 2014 12:00am

Traders hail Senate, National Assembly resolutions: PTI, PAT urged to refrain from politics of confrontation

The business community of South Punjab has hailed the Senate and the National Assembly's resolutions in support of Prime Minister and the opposition's commitment of strengthening democracy and parliament. The businessmen demanded of Pakistan Tehreek-i-Ins

Published 25 Aug, 2014 12:00am

Political crisis: Pakistan to lose ranking in various subject indexes: PEW

The Pakistan Economy Watch (PEW) on Sunday said political agitation would result in lowered ranking for the country in various subjects including the World Bank's next Doing Business Report compromising its image.

Published 25 Aug, 2014 12:00am

I cannot even think of marriage: Imran

Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan's desperation to get married years after divorcing his former wife Jemima Khan has created waves but Kaptan clarified on Sunday he is in 'no hurry to walk down the isles'.

Published 25 Aug, 2014 12:00am

I cannot even think of marriage: Imran

Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan's desperation to get married years after divorcing his former wife Jemima Khan has created waves but Kaptan clarified on Sunday he is in 'no hurry to walk down the isles'.

Published 25 Aug, 2014 12:00am

Sister reveals Imran's would-be wife already chosen?

The Pakistan Tehreek-e-Insaf (PTI) leader Imran Khan's sister early Sunday morning announced that she had chosen a 'perfect match' for her brother to marry. "We have cherrypicked a 'potential wife' for Imran Khan. The nuptials will hopefully take place sh

Published 25 Aug, 2014 12:00am

Negotiation only way out from imbroglio: JI leader

Provincial Ameer, Jamaat-i-Islami, Khyber Pakhtunkhwa Professor Mohammad Ibrahim Khan has said that negotiation is the only way-out from the situaation confronting the country Addressing a meeting held under the auspices of Islamic Lawyers' Movement (ILM)

Published 25 Aug, 2014 12:00am

Mysterious source of ozone-depleting chemical baffles NASA

A chemical used in dry cleaning and fire extinguishers may have been phased out in recent years but NASA said on August 20 that carbon tetrachloride (CCl4) is still being spewed into the atmosphere from an unknown source. The world agreed to stop using CC

Published 25 Aug, 2014 12:00am

Drug blocks Ebola-like virus in monkey tests

An experimental drug treatment can help monkeys survive an otherwise deadly infection with a tropical virus called Marburg, which is similar to Ebola, researchers said on August 20. The findings in the journal Science Translational Medicine could speed ef

Published 25 Aug, 2014 12:00am

Instant noodles carry health risks for women

Women who eat instant noodles, like Ramen, at least two times a week face a greater risk of high blood pressure, elevated blood sugar and high cholesterol, US researchers said on August 21. The study looked at data from 10,711 adults - just over half of w

Published 25 Aug, 2014 12:00am

Climate change: meteorologists preparing for the worst

Intense aerial turbulence, ice storms and scorching heatwaves, huge ocean waves - the world's climate experts forecast apocalyptic weather over the coming decades at a conference in Montreal that ended on August 21. The World Meteorological Organisation (

Published 25 Aug, 2014 12:00am

GPS measures western US drought, finds Earth rising

Scientists using GPS technology to study the extent of the western US drought said on August 21 the water shortage is causing parts of the Earth's crust to rise. Some 62 trillion gallons - equivalent to a six-inch (15-centimeter) layer of water - have bee

Published 25 Aug, 2014 12:00am

Study links antibiotic to heart death risk

Danish researchers reported a link on August 19 between a commonly-used antibiotic and a "significantly" higher risk of heart deaths, while observers urged caution in interpreting the results. In a study published online by the British medical journal The

Published 25 Aug, 2014 12:00am

Botox may slow tumour growth in cancer

Botox has frozen the faces of countless Hollywood stars, and international researchers said on August 20 the toxic injections might also be able to stop cancer in its tracks, at least temporarily. The findings in the journal Science Translational Medicine

Published 25 Aug, 2014 12:00am

Uber car-hailing pulls into mobile dining/travel apps

Uber pulled into dining and travel smartphones applications Wednesday as the Internet age car-hailing service moved to park itself at the heart of mobile lifestyles. The San Francisco-based start-up let about a dozen businesses such as Starbucks, Hyatt Ho

Published 25 Aug, 2014 12:00am

Taiwan growth outlook brightens as factories gear up for smartphones demand

The launch of new tech products such as Apple's iPhone 6 will help Taiwan remain one of Asia's stronger exporters, bolstering its economic prospects this year amid a patchy global recovery. After the government raised Taiwan's GDP outlook for 2014 last we

Published 25 Aug, 2014 12:00am

People stick with favourites in search of mobile apps

There may be a growing number of applications for smartphones, but people in the US tend to cling to the few they like and shun the rest, an industry tracker says. Nearly two-thirds of US smartphones owners download no applications monthly, comScore said

Published 25 Aug, 2014 12:00am

Germany mulls warning system for wrong-way drivers

Germany is considering the introduction of a new electronic warning system to prevent wrong-way driving down its high-speed motorways. The choice will be up to Transport Minister Alexander Dobrindt, based on the results of field trials of various systems

Published 25 Aug, 2014 12:00am

Google buys travel guide app start-up Jetpac

Google confirmed Monday it has bought the start-up behind a Jetpac mobile application that creates insightful travel guides by analysing pictures from social networks such as Instagram. Financial terms of the deal were not disclosed.

Published 25 Aug, 2014 12:00am

Google to help boost Greece's tourism industry

Internet giant Google will offer management courses to 3,000 tourism businesses on the island of Crete as part of an initiative to promote the sector in Greece, industry union Sete said on Thursday. "Given the continuing growth in tourism in the past two

Published 25 Aug, 2014 12:00am

Study finds self tracking devices, apps bring privacy risks

Using self-tracking devices such as fitness bracelets or smartphones apps can make it easier for others to track you too, according to a study carried out by the security firm Symantec. The study found that some of the devices and apps have security vulne

Published 25 Aug, 2014 12:00am

Microsoft to unveil new Windows software: report

A news report out Thursday indicated that Microsoft is poised to give the world a glimpse at a new-generation computer operating system that will succeed Windows 8. The US software titan could hold an event as early as the end of September to provide a lo

Published 25 Aug, 2014 12:00am

Microsoft to use Opera browser on low, mid-market phones

Microsoft has agreed to install Opera Software's Internet browser on low and mid-market mobile phones it inherited from Nokia, potentially putting Opera Mini on another 100 million phones year. The deal comes after Microsoft completed its $7.5 billion tak

Published 25 Aug, 2014 12:00am

Universal apps for Windows now available

One app for three devices: Since April universal apps have been available for Windows, regardless of whether the operating system is running on a smartphones, tablet or PC. The apps work on all platforms running Windows 8 onwards. Since the update to 8.1,

Published 25 Aug, 2014 12:00am

Shazam breaks 100 million monthly user mark

Shazam announced Wednesday that 100 million people use its song-recognition mobile service monthly in a 34 percent surge from a year earlier. Shazam applications have been downloaded to more than 500 million mobile devices since the 1999 launch of the fir

Published 25 Aug, 2014 12:00am

Facebook helps readers tell truth from fiction

Facebook said on Monday that it is testing a way to let members know when articles posted to the social network are tongue-in-cheek instead of hand-on-heart. Evidently, users of the world's leading social network need a bit of help when it comes to discer

Published 25 Aug, 2014 12:00am

AS50 Cent, Intel team up on heart-monitor headphones

Rap star 50 Cent and US computing giant Intel are teaming up on a new line of headphones that double as heart rate monitors. With the company SMS Audio backed by Curtis "50 Cent" Jackson, Intel will produce the so-called fitness monitoring biometric in-ea

Published 25 Aug, 2014 12:00am

PetroChina reviews multi-billion-dollar push to produce LNG used in transport

China's biggest energy firm PetroChina is reviewing its multi-billion-dollar push to produce liquefied natural gas (LNG) to fuel trucks and ships in place of diesel, shutting two loss-making gas liquefaction plants, sources said.

Published 25 Aug, 2014 12:00am

Volvo Car reports return to profit on China sales

Chinese-owned Volvo Car Group announced a return to profits on August 20 in an upbeat half-yearly report that cited "solid" demand for the Swedish brand particularly in China. The Gothenburg-based manufacturer bucked dismal sales trends in the global auto

Published 25 Aug, 2014 12:00am

Volvo Car reports return to profit on China sales

Chinese-owned Volvo Car Group announced a return to profits on August 20 in an upbeat half-yearly report that cited "solid" demand for the Swedish brand particularly in China. The Gothenburg-based manufacturer bucked dismal sales trends in the global auto

Published 25 Aug, 2014 12:00am

HP revenue inches up after years of decline

Hewlett-Packard on August 20 reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China. Net revenue for the quarter that ended July 31 was $27.6 billion, a one percent

Published 25 Aug, 2014 12:00am

Former Microsoft CEO Steve Ballmer leaves board

Former Microsoft Corp Chief Executive Steve Ballmer, the new owner of the Los Angeles Clippers basketball team, has left the software company's board in order to spend more time on his new project. "I see a combination of the Clippers, civic contribution,

Published 25 Aug, 2014 12:00am

Citigroup seeks to exit Japanese retail banking

Citigroup Inc is preparing to sell its Japanese retail banking operations, a source with direct knowledge of the matter said on August 20, as it waves the white flag on a venture plagued by regulatory troubles and anaemic lending. The company which pionee

Published 25 Aug, 2014 12:00am

Maersk Line, MSC to launch vessel-sharing service in 2015

Maersk Line plans to launch its new vessel sharing service with MSC Mediterranean as early as January next year, and expects to notify customers of the network and transit times by September. The world's largest container shipper, part of Denmark's A.P. M

Published 25 Aug, 2014 12:00am

Goldman Sachs to raise junior banker pay

Goldman Sachs Group Inc plans to raise pay for junior bankers by 20 percent next year, the New York Post reported on August 20. The pay raise means that first-year analysts will earn about $85,000 before collecting bonuses in 2015, the newspaper said. Ana

Published 25 Aug, 2014 12:00am

'Good news' shock could kill equity bull market

If bad economic news continues to translate into good news for investors, any sharp acceleration of the world economy from here could well kill off the long-running equity bull market. While a mid-summer wobble in global markets was blamed variously on an

Published 25 Aug, 2014 12:00am

'Good news' shock could kill equity bull market

If bad economic news continues to translate into good news for investors, any sharp acceleration of the world economy from here could well kill off the long-running equity bull market. While a mid-summer wobble in global markets was blamed variously on an

Published 25 Aug, 2014 12:00am

Farah breaks European two mile record

Distance-running star Mo Farah marked his first appearance on a home track in more than 12 months by smashing Steve Ovett's 36-year-old British record for the rarely run two miles at the Diamond League meeting in Birmingham on Sunday.

Published 25 Aug, 2014 12:00am

Ledecky breaks 1500m world record, Phelps beaten in thriller

American teen wonder Katie Ledecky claimed her second world record of the meet and Olympic titan Michael Phelps lost a thrilling medley final on a dramatic closing night for the Pan Pacific Championships on Sunday. Ledecky, 17, set her second world record

Published 25 Aug, 2014 12:00am

New opening partner no worry for Cook

England captain Alastair Cook does not expect his role in the one-day set-up to change should he find himself opening alongside Alex Hales rather than Ian Bell during the upcoming series with world champions India. Fresh from their 3-1 Test success agains

Published 25 Aug, 2014 12:00am

Fletcher remains in charge, says Dhoni

India captain Mahendra Singh Dhoni insisted coach Duncan Fletcher was "still the boss" ahead of the forthcoming one-day series in England despite the upheaval in the tourists' backroom staff. England's 3-1 win over India in the five-Test series saw Dhoni'

Published 25 Aug, 2014 12:00am

Sluggish United held by Sunderland, Spurs thrash QPR

Manchester United laboured to a ponderous 1-1 draw at Sunderland on Sunday that delivered a first Premier League point for Louis van Gaal but laid bare their dire need for reinforcements and exposed frailties at both ends of the pitch.

Published 25 Aug, 2014 12:00am

Wimbledon champ Kvitova takes New Haven title

Reigning Wimbledon champion Petra Kvitova won her second WTA Connecticut Open title in three years Saturday, defeating Slovakia's Magdalena Rybarikova 6-4, 6-2 in the US Open warm-up event. Fourth-ranked Kvitova, the 2012 New Haven winner who lost to Simo

Published 25 Aug, 2014 12:00am

Bolt ends season, will not run in Zurich

World record holder and six-times Olympic champion Usain Bolt has decided to end his 2014 season and will not compete in the 100 meters in Thursday's IAAF Diamond League Final in Zurich, organisers said on Sunday. The decision, which Bolt's manager Ricky

Published 25 Aug, 2014 12:00am

Ricciardo wins

Australian Daniel Ricciardo won the Belgian Grand Prix for Red Bull on Sunday while Mercedes title rivals Nico Rosberg and Lewis Hamilton provided the drama of the day by colliding on the second lap.

Published 25 Aug, 2014 12:00am

Clarke prepared to travel alone to avoid injury

Michael Clarke may opt to alter his travel plans for future overseas tours as the Australia captain races against time to recover from a hamstring injury for Monday's first one-day international against Zimbabwe. Clarke, who has had a five-month layoff si

Published 25 Aug, 2014 12:00am

Ecopetrol reaches accord to avoid strike

Colombian state oil company Ecopetrol reached agreement with two of its main labour unions to avoid possible strike action that could have reduced output from the Andean nation, the company said late on Saturday. Ecopetrol reached an accord that runs unti

Published 25 Aug, 2014 12:00am

Jordan's debt rises 5.2pc to $28 billion in first half

Jordan's gross domestic and foreign debt rose 5.2 percent to 20 billion dinars ($28 billion) in the first six months of the year from the end of last year as the kingdom tapped more foreign funds to help its economy cope with an influx of Syrian refugees,

Published 25 Aug, 2014 12:00am

Taiwan's Wei family to buy China's cable TV operator for $2.4 billion

Taiwan's Wei family has agreed to buy China Network Systems (CNS), the nation's biggest cable TV operator, for about $2.4 billion including debt from private equity firm MBK Partners, a person with direct knowledge of the matter told Reuters on Sunday.

Published 25 Aug, 2014 12:00am

China targets own operating system to take on likes of Microsoft, Google

China could have a new home-grown operating system by October to take on imported rivals such as Microsoft Corp, Google Inc and Apple Inc, Xinhua news agency said on Sunday. Computer technology became an area of tension between China and the United States

Published 25 Aug, 2014 12:00am

China urges more private investment in troubled railways

Chinese Premier Li Keqiang urged the heavily scrutinised railway sector to seek more private investment and rely less on state support as a key plank of its reform, the government website said on Sunday. Beijing has vowed to deepen reforms of its state-ow

Published 25 Aug, 2014 12:00am

Saudi Electricity says Riyadh capacity to be online by 2017

State-run utility Saudi Electricity Co (SEC) plans to bring online more than 4,750 megawatts of natural gas-fired generating capacity in Riyadh between 2015 and 2017, the company said on Sunday.

Published 25 Aug, 2014 12:00am

BMW, Audi and Mercedes facing new luxury challengers

Berlin-based PR executive Herbert Franz should be a soft target for German luxury automakers - his last car was a BMW X3 - but he can't wait to leave them behind. "This car is hip," said Franz, 52, at the city's biggest Jaguar Land Rover showroom, while e

Published 25 Aug, 2014 12:00am

Roche to buy US biotech firm InterMune for $8.3 billion

Roche Holding AG has agreed to buy US biotech company InterMune Inc for $8.3 billion in cash, marking the latest multibillion-dollar deal in a consolidating pharmaceutical sector. The Swiss drugmaker said on Sunday it would pay $74.00 a share for InterMun

Published 25 Aug, 2014 12:00am

German car parts suppliers asked to form JVs in China

Three German car parts suppliers have been told by China they can no longer manage their Chinese units independently but need to form partnerships with local peers, the chief executive of auto parts maker ElringKlinger told a German paper. "The Chinese st

Published 25 Aug, 2014 12:00am

Aeroflot defies sanctions to create new low-cost airline

Russian flag carrier Aeroflot will create a new low-cost unit after Western sanctions grounded its first effort to enter the market, the airline's chief executive said on Sunday. "We will after all register a new airline," Aeroflot chief executive Vitaly

Published 25 Aug, 2014 12:00am

Germany optimistic on outlook despite weak second quarter

The German government remains optimistic in its outlook for Europe's biggest economy, despite negative growth in the second quarter, the weekly Der Spiegel reported Sunday. For the whole of 2014, the German economy could even notch up faster growth than t

Published 25 Aug, 2014 12:00am

Pressure builds within Fed to signal new policy course

Pressure is building within the Federal Reserve for officials to move as early as next month to more clearly acknowledge improvements in the US economy and lay the groundwork for the central bank's first interest rate hike in nearly a decade.

Published 25 Aug, 2014 12:00am

Rand may buckle as South Africa's problems pile up

South African Finance Minister Nhlanhla Nene has a lot on his plate, and the enormity of those challenges may weigh on the value of the rand. Growth is weak, inflation is picking up, not least because of the lagging impact of previous rand depreciations,

Published 25 Aug, 2014 12:00am

Retail investors pay price as hedge funds dominate ETFs

Junk-bond ETFs created for retail investors have been hijacked by hedge funds using them to make broad bets on bond prices, causing roller-coaster distortions in the high-yield market. Funds designed for retail investors have morphed into hedging tools th

Published 25 Aug, 2014 12:00am

Retail investors pay price as hedge funds dominate ETFs

Junk-bond ETFs created for retail investors have been hijacked by hedge funds using them to make broad bets on bond prices, causing roller-coaster distortions in the high-yield market. Funds designed for retail investors have morphed into hedging tools th

Published 25 Aug, 2014 12:00am

Fitch downgrades Ukraine local currency

Fitch Ratings on Friday downgraded Ukraine's local currency sovereign credit rating one notch to CCC from B-minus, citing an ongoing political transition and fighting with Russian-backed separatists for wreaking havoc on its economy. "Instability in the e

Published 25 Aug, 2014 12:00am

Fitch downgrades Ukraine local currency

Fitch Ratings on Friday downgraded Ukraine's local currency sovereign credit rating one notch to CCC from B-minus, citing an ongoing political transition and fighting with Russian-backed separatists for wreaking havoc on its economy. "Instability in the e

Published 25 Aug, 2014 12:00am

Tokyo investors to eye geopolitical risks, economic figures

Tokyo investors will be watching the crises in Ukraine and Iraq while focusing on key economic indicators in Japan and the United States next week. "Japanese stocks extended their winning streak this week partially because geopolitical concerns were subdu

Published 25 Aug, 2014 12:00am

Currency	Rate
USD PKR Interbank Selling / Nov 22	277.85
USD PKR Interbank Buying / Nov 22	277.65
USD to Japanese Yen / Nov 22	154.78
USD to Swiss Franc / Nov 22	0.89
Pound Sterling to USD / Nov 22	1.26
Euro to USD / Nov 22	1.05

Stock	Volume
S&P 500 / Nov 21	5,948.71
Nasdaq / Nov 21	18,972.42
Dow Jones / Nov 21	43,870.35
India Sensex / Nov 22	78,147.34
Tokyo Nikkei / Nov 22	38,283.85
Hang Seng / Nov 22	19,170.91
FTSE 100 / Nov 22	8,202.46
Germany DAX 30 / Nov 22	19,225.74

Item	Value
Crude Oil USD/Barrel / Nov 22	70.18
Karachi Cotton PKR/37.32 KG / Nov 22	17,785
Gold 10 Grams PKR / Nov 22	240,483
Gold Spot USD/Ounce / Nov 22	2,691.90
Cotton US¢/pound / Nov 22	70.12
Petrol/Litre / Nov 23	248.38

Stock	Price
786 Invest Ltd / Nov 23 786 Investments Limited(786)	7.15 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 23 Al-Abbas Sugar Mills Limited(AABS)	620.68 ▼ 0.00 (0.00%)
Agro Allianz / Nov 23 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 23 Ali Asghar Textile Mills Limited(AATM)	69.40 ▼ 0.00 (0.00%)
Allied Bank / Nov 23 Allied Bank Limited(ABL)	115 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 23 Abbott Laboratories (Pakistan) Limited(ABOT)	1,084.82 ▼ 0.00 (0.00%)
Abson Ind. / Nov 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 23 Alfalah Consumer Index ETF.(ACIETF)	12.35 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 23 786 Investments Limited(786)	7.15 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 23 Al-Abbas Sugar Mills Limited(AABS)	620.68 ▲ 0.00 (0.00%)
Agro Allianz / Nov 23 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 23 Ali Asghar Textile Mills Limited(AATM)	69.40 ▲ 0.00 (0.00%)
Allied Bank / Nov 23 Allied Bank Limited(ABL)	115 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 23 Abbott Laboratories (Pakistan) Limited(ABOT)	1,084.82 ▲ 0.00 (0.00%)
Abson Ind. / Nov 23 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 23 Alfalah Consumer Index ETF.(ACIETF)	12.35 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Nov 23 Worldcall Telecom Limited(WTL)	95,563,962 ▲ 0.00
Pace (Pak) Ltd. / Nov 23 Pace (Pakistan) Limited(PACE)	51,499,190 ▲ 0.00
Kohinoor Spining / Nov 23 Kohinoor Spinning Mills Limited(KOSM)	48,260,119 ▲ 0.00
K-Electric Ltd. / Nov 23 K-Electric Limited(KEL)	44,585,332 ▲ 0.00
Treet Battery / Nov 23 Treet Battery Limited(TBL)	42,849,466 ▲ 0.00
Waves Home Appliances / Nov 23 Waves Home Appliances Limited(WAVESAPP)	41,650,133 ▲ 0.00
PIA Holding Co.Ltd / Nov 23 PIA Holding Company Limited(PIAHCLA)	33,841,692 ▲ 0.00
Fauji Foods Ltd / Nov 23 Fauji Foods Limited(FFL)	25,303,681 ▲ 0.00
Cnergyico PK / Nov 23 Cnergyico PK Limited(CNERGY)	25,120,112 ▲ 0.00

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