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Print - 2014-09-15
German business lobby group calls EU sanctions a mistake

German business lobby group calls EU sanctions a mistake

The European Union's new economic sanctions against Russia are a "mistake" because they were imposed just as a week-old cease-fire was bringing calm to the embattled east of Ukraine, the leader of a German business lobby group was quoted saying on Sunday.
Published 15 Sep, 2014 12:00am
Head of Shia body shot dead in Hyderabad

Head of Shia body shot dead in Hyderabad

Unknown miscreants gunned down head of a local Shia organisation here on Sunday and fled from the scene. Police said that the incident took place in Latifabad No 5 of Hyderabad where unidentified gun men opened fire at Mohsin Raza Jafferi, head of Anjuman
Published 15 Sep, 2014 12:00am
Man killed in Quetta

Man killed in Quetta

Unknown armed men shot dead a man in Killi New Kharotabad area of provincial capital on Sunday. According to police, the victim was on way to somewhere when armed assailants opened fire on him and fled from the scene. As a result, he received bullet wound
Published 15 Sep, 2014 12:00am
IGP Punjab terms Imran's allegations unjust, regrettable

IGP Punjab terms Imran's allegations unjust, regrettable

Inspector General Police Punjab Mushtaq Sukhera has termed PTI Chairman Imran Khan's threatening statement as "unjust criticism, regrettable and irresponsible" act. Imran Khan had lambasted Sukhera for launching a crackdown against his party workers.
Published 15 Sep, 2014 12:00am
PCA voices concern over manhandling of ICCI President

PCA voices concern over manhandling of ICCI President

Pakistan Computer Association (PCA) has expressed serious concern over the torture of Islamabad police on Shaban Khalid, President of Islamabad Chamber of Commerce and Industry (ICCI), and appealed Minister for Interior Chaudhry Nisar Ali Khan to take not
Published 15 Sep, 2014 12:00am
DIG asked to end traffic problems in Karachi

DIG asked to end traffic problems in Karachi

Transport Action Committee president Mohammad Ashraf Banglori has expressed his concern over traffic jams in the city of Karachi and demanded of the DIG Traffic, Sindh, to end traffic problems faced by the people. In a statement issued on Sunday, Banglori
Published 15 Sep, 2014 12:00am
Sindh Relief Commissioner makes pre-flood inspection of dykes

Sindh Relief Commissioner makes pre-flood inspection of dykes

Senior member Board of Revenue/ Relief Commissioner Sindh Malik Israr Hussain Sunday visited different dykes in Sukkur and reviewed steps taken in advance to handle the expected flood situation there, on the directives of Sindh Chief Minister.
Published 15 Sep, 2014 12:00am
Jhang, Chiniot: 23,000 food packets sent to flood-hit people

Jhang, Chiniot: 23,000 food packets sent to flood-hit people

Under arrangements of the district administration, more than 23,000 food packets of 12 kg each have been sent to Jhang district and Chiniot for the flood affected people. This information was give to former Punjab minister for law Rana Sanaullah Khan duri
Published 15 Sep, 2014 12:00am
Secretary BISP in his position remains contentious

Secretary BISP in his position remains contentious

The position of Secretary in Benazir Income Support Programme remains contentious and the organisation is likely to appoint yet another secretary after September 18. An official in the BISP told Business Recorder that Senator Enver Baig, Chairman o
Published 15 Sep, 2014 12:00am
APBUMA elects new office-bearers

APBUMA elects new office-bearers

Mehmood Group of Industries's Khawaja Jalaluddin Roomi, Imran Mehmood and Muhammad Iqbal Khan have been elected unopposed as Chairman, Senior Vice-Chairman and Vice-Chairman respectively of All Pakistan Bedsheet and Upholstery Manufacturers Association (A
Published 15 Sep, 2014 12:00am
Man held with two US made hand grenades

Man held with two US made hand grenades

The Islamabad Capital Territory (ICT) Police arrested an accused after recovered of US manufactured hand grenades and rounds of sniper rifle. The ICT police during a raid in Jatri area of the federal capital arrested a culprit identified as Dildar Hussain
Published 15 Sep, 2014 12:00am
Yarn dealers, stockists protest against defaulters

Yarn dealers, stockists protest against defaulters

Yarn dealers and stockiest have staged a protest against the defaulters of the Faisalabad Yarn Market in front of the defaulter house and demanded to government speculators and defaulters should be apprehended immediately.
Published 15 Sep, 2014 12:00am
UAF arranges anti-dengue seminar

UAF arranges anti-dengue seminar

Chemicals compound discharged from human body attract the mosquitoes to bite. The ratio of attraction varies from person to person, depending upon their eating habits, genes and environment etc. This was echoed at the anti-dengue seminar at University of
Published 15 Sep, 2014 12:00am
Anti-Dengue Day observed in Punjab

Anti-Dengue Day observed in Punjab

On the direction of Government of Punjab, Anti-Dengue Day has been observed throughout the province. On this occasion, special cleanliness / sweeping campaign launched in government buildings and the stagnant water and solid waste has been removed from th
Published 15 Sep, 2014 12:00am
'Government successfully created awareness against dengue'

'Government successfully created awareness against dengue'

Advisor to Chief Minister Punjab on Health, Khawaja Salman Rafique has said that government has successfully fulfilled its responsibilities of creating awareness against dengue among the masses during the last four years. He said that massive awareness ca
Published 15 Sep, 2014 12:00am
Pakistan passing through critical juncture: Siraj

Pakistan passing through critical juncture: Siraj

Central Ameer, Jamaat-e-Islami Siraj-ul-Haq has said that presently Pakistan is passing through critical juncture and their party is making all out efforts to bring it out. Talking to local leadership of the party in district Swat Sunday, he said that onl
Published 15 Sep, 2014 12:00am
Nawaz bargained Punjab's interests to become Prime Minister: Elahi

Nawaz bargained Punjab's interests to become Prime Minister: Elahi

Pakistan Muslim League-Q (PML-Q) leader Chaudhry Parvez Elahi has accused Nawaz Sharif of bargaining the interests of Punjab and abandoning the Kalabagh dam project for becoming the prime minister for third time. If 11 parties in parliament were with the
Published 15 Sep, 2014 12:00am
JI Shoora meets on September 16

JI Shoora meets on September 16

Ameer, Jamaat e Islami, Pakistan, Siraj-ul-Haq, has convened a meeting of the central Shoora of the JI at Mansura on September 16. The Shoora will discuss the political situation prevailing in the country and decide the future line of action of the party.
Published 15 Sep, 2014 12:00am
Health, education sectors: record funds provided to achieve MDGs: Shuja

Health, education sectors: record funds provided to achieve MDGs: Shuja

Provincial Minister for Excise & Taxation and Finance Mujtaba Shuja-ur-Rehman has said that in order to achieve the Millennium Development Goals (MDGs), record funds are being provided to health and education sectors and the major focus of the government
Published 15 Sep, 2014 12:00am
Flood-hit people: doctors urged to provide medical relief

Flood-hit people: doctors urged to provide medical relief

Principal Post Graduate Medical Institute & Lahore General Hospital Prof. Anjum Habib Vohra have stressed the doctors to go to flooded areas and provide medical relief to the effected people. He also appealed to the doctors living in foreign countries to
Published 15 Sep, 2014 12:00am
'Zakat fund be paid through branchless banking, Telenor Easypaisa'

'Zakat fund be paid through branchless banking, Telenor Easypaisa'

Provincial Minister for Zakat & Usher Nadeem Kamran has said that payment of Zakat fund will be made to the Mustahkeen through branchless banking and Telenor Easypaisa has been selected for this purpose. This decision has been taken to save deserving peop
Published 15 Sep, 2014 12:00am
JI leaders grieved over boat tragedy

JI leaders grieved over boat tragedy

Ameer, Jamaat e Islami, Pakistan, Siraj-ul-Haq and JI Secretary General, Liaqat Baloch, have expressed deep grief over the boat tragedy near Multan resulting in the drowning of over a dozen people including a bridegroom. They have prayed for the departed
Published 15 Sep, 2014 12:00am
Indus River in course of centuries built up its own bed

Indus River in course of centuries built up its own bed

Indus River in the course of centuries built up its own bed and runs on a ridge and ground level on its both sides of slopes away. Before the construction of Sukkur Barrage, there were few Zamindari Bunds but after the construction of barrage, bunds all a
Published 15 Sep, 2014 12:00am
Nato countries have begun arms deliveries to Ukraine

Nato countries have begun arms deliveries to Ukraine

Ukraine's defence minister said on Sunday that Nato countries were delivering weapons to his country to equip it to fight pro-Russian separatists and "stop" Russian President Vladimir Putin. Valery Heletey told a news conference he had discussed weapons d
Published 15 Sep, 2014 12:00am
Fourth Sierra Leonean doctor dies from Ebola

Fourth Sierra Leonean doctor dies from Ebola

A fourth Sierra Leonean doctor, a woman, died Sunday after contracting the dreaded Ebola virus, the country's chief medical officer told AFP. Doctor Olive Buck, who was in charge of Lumley Government Hospital in the capital's west end, tested positive for
Published 15 Sep, 2014 12:00am
Malaysia Airlines flight to Hyderabad turns back

Malaysia Airlines flight to Hyderabad turns back

A Malaysian Airlines (MAS) flight from Kuala Lumpur to Hyderabad was turned back on Saturday due to a defect with the plane's auto-pilot system, the airline said in a statement. Flight MH198 left Kuala Lumpur at 10:20 pm (1220 GMT) on Thursday and returne
Published 15 Sep, 2014 12:00am
Chairman of Spanish retail giant El Corte Ingles dies

Chairman of Spanish retail giant El Corte Ingles dies

The chairman of Spanish department store chain El Corte Ingles, Isidoro Alvarez, died on Sunday, Spain's Economy Ministry said. Media-shy Alvarez is credited with turning the brand into a household name in Spain, although the retail giant had recently bee
Published 15 Sep, 2014 12:00am
Khaleda Zia loses court battle on corruption charges

Khaleda Zia loses court battle on corruption charges

Bangladesh's highest court on Sunday rejected appeals by opposition leader Khaleda Zia, clearing the way for her to stand trial on embezzlement charges that could see her jailed for life. Zia, a two times former prime minister and leader of the Bangladesh
Published 15 Sep, 2014 12:00am
Brazil builds giant tower in Amazon to monitor climate

Brazil builds giant tower in Amazon to monitor climate

Brazil is building a giant observation tower in the heart of the Amazon to monitor climate change and its impact on the region's sensitive ecosystem, a newspaper reported Sunday. The Amazon Tall Tower Observatory (ATTO) is a project of Brazil's National I
Published 15 Sep, 2014 12:00am
14 killed, 12 missing as boat sinks in Indonesia

14 killed, 12 missing as boat sinks in Indonesia

A boat sank Sunday in bad weather off eastern Indonesia, killing at least 14 people and leaving 12 others missing, an official said. The long wooden boat carrying 35 passengers went down in the waters off Sula islands after it was hit by towering waves in
Published 15 Sep, 2014 12:00am
'All bases covered' in coalition bid to crush IS

'All bases covered' in coalition bid to crush IS

"All bases are covered" in a US-led multinational coalition against the Islamic State, John Kerry said, as Washington rallies diplomatic and public support to smash the jihadists. The US Secretary of State told CBS's Face the Nation that there were allies
Published 15 Sep, 2014 12:00am
Israel intelligence hits back over refuseniks' letter

Israel intelligence hits back over refuseniks' letter

Scores of veterans of elite Israeli intelligence unit 8200 rallied to its defence Sunday after 43 comrades said they would no longer take part in its "injustices" against millions of Palestinians. The open letter, which was sent to Israel's political and
Published 15 Sep, 2014 12:00am
Shelling kills 19 as Syria Kurds battle jihadists

Shelling kills 19 as Syria Kurds battle jihadists

Shelling killed 19 civilians on Sunday as Syria's Kurds fought a fierce battle against jihadists from the Islamic State (IS) in the north-eastern province of Hasakeh, a monitoring group said. Among the civilians killed in Hajiyeh and Tal Khalil villages w
Published 15 Sep, 2014 12:00am
Under-fire French government faces crunch confidence vote

Under-fire French government faces crunch confidence vote

The deeply unpopular government of embattled French President Francois Hollande faces a parliamentary confidence vote on Tuesday, with the country gripped by a crippling political and economic crisis. In what promises to be a crunch week for under-fire Ho
Published 15 Sep, 2014 12:00am
Landmine kills Chadian peacekeeper in Mali

Landmine kills Chadian peacekeeper in Mali

A Chadian UN peacekeeper was killed and several others injured when their vehicle struck a landmine in northern Mali, military sources in the country said. "We lost one person when our vehicle encountered a mine near Aguelhoc. There are also some injured,
Published 15 Sep, 2014 12:00am
US sees Middle East help fighting IS, Britain cautious after beheading

US sees Middle East help fighting IS, Britain cautious after beheading

Washington said countries in the Middle East had offered to join air strikes against Islamic State militants and Australia said it would send troops, but Britain held back even after the group beheaded a British hostage and threatened to kill another.
Published 15 Sep, 2014 12:00am
Emaar lifts Dubai bourse after launching malls unit IPO

Emaar lifts Dubai bourse after launching malls unit IPO

Dubai developer Emaar Properties lifted the emirate's bourse on Sunday after announcing the price range for the initial public offer of its shopping malls unit, while profit-taking in Egypt continued despite positive economic news. The Dubai index rose 0.
Published 15 Sep, 2014 12:00am
UK's First Utility eyes IPO to fund expansion

UK's First Utility eyes IPO to fund expansion

First Utility, Britain's largest independent electricity and gas supplier, is considering raising money through a public listing or outside investor to fund expansion abroad, its chief executive said in an interview.
Published 15 Sep, 2014 12:00am
UK's First Utility eyes IPO to fund expansion

UK's First Utility eyes IPO to fund expansion

First Utility, Britain's largest independent electricity and gas supplier, is considering raising money through a public listing or outside investor to fund expansion abroad, its chief executive said in an interview.
Published 15 Sep, 2014 12:00am
Selective stock rally in China suggests lack of confidence

Selective stock rally in China suggests lack of confidence

The recent rally in Chinese stocks has many investors hoping it is the start of a bull market in the region's worst performing market, but the structure of fund flows suggests it is bargain hunting rather than a lasting vote of confidence. Money has flowe
Published 15 Sep, 2014 12:00am
Tokyo investors eye forex market, Fed

Tokyo investors eye forex market, Fed

Tokyo investors will keep their eyes on forex trading next week after a plunging yen catapulted the Nikkei index to within spitting distance of last year's high. A US Federal Reserve policy meeting will also be on market players' radar screens as they loo
Published 15 Sep, 2014 12:00am
Canadian dollar on course for a long-term grind lower

Canadian dollar on course for a long-term grind lower

A prolonged grind lower is likely in store for the Canadian dollar over the next year, with a sidelined central bank at home and an accelerating economic recovery south of the border expected to weigh on the currency, a Reuters poll found. The loonie has
Published 15 Sep, 2014 12:00am
Coinbase taking Bitcoin wallet platform to Europe

Coinbase taking Bitcoin wallet platform to Europe

San Francisco-based Coinbase is taking its Bitcoin wallet to Europe with an aim of enticing more people there to use the digital currency. Coinbase on Wednesday launched in 13 European countries, including France, Spain, Italy, Belgium and the Netherlands
Published 15 Sep, 2014 12:00am
Alibaba plans to close IPO order book early

Alibaba plans to close IPO order book early

Alibaba Group Holding Ltd plans to close its IPO order book early after it received enough orders to sell all the shares in the record-breaking offering, sources familiar with the matter said on Friday. The company, which launched its IPO on Monday, is ex
Published 15 Sep, 2014 12:00am
Alibaba plans to close IPO order book early

Alibaba plans to close IPO order book early

Alibaba Group Holding Ltd plans to close its IPO order book early after it received enough orders to sell all the shares in the record-breaking offering, sources familiar with the matter said on Friday. The company, which launched its IPO on Monday, is ex
Published 15 Sep, 2014 12:00am
Japan staffing firm Recruit plans IPO worth $1.8 billion

Japan staffing firm Recruit plans IPO worth $1.8 billion

Japan's largest recruitment company Recruit Holdings said it is planning an initial public offering worth $1.8 billion, which will test investor appetite for big Tokyo listings after some weak debuts this year. The IPO will help Recruit pay for future acq
Published 15 Sep, 2014 12:00am
Japan staffing firm Recruit plans IPO worth $1.8 billion

Japan staffing firm Recruit plans IPO worth $1.8 billion

Japan's largest recruitment company Recruit Holdings said it is planning an initial public offering worth $1.8 billion, which will test investor appetite for big Tokyo listings after some weak debuts this year. The IPO will help Recruit pay for future acq
Published 15 Sep, 2014 12:00am
Ryanair says selling more seats per flight this year

Ryanair says selling more seats per flight this year

Ryanair is flying at least six more passengers per flight this year than in 2013, thanks to improvements in customer service and the way it sells tickets, its chief financial officer said on September 08. The Irish airline, Europe's largest low-cost carri
Published 15 Sep, 2014 12:00am
Pervaiz Rashid condoles with Hameed, Abdullah Haroon

Pervaiz Rashid condoles with Hameed, Abdullah Haroon

Federal Minister for Information and Broadcasting Pervaiz Rasheed visited the Haroon House on Sunday to condole the death of the mother of APNS President Hameed Haroon and senior politician Abdullah Hussain Haroon. The minister offered Fateha and prayed f
Published 15 Sep, 2014 12:00am
Stroke less likely for older women with more potassium

Stroke less likely for older women with more potassium

Postmenopausal women who get more potassium in their diets are less likely to have a stroke or die than those who don't get as much, according to a new study. Potassium-rich diets have been linked to lower blood pressure before, but this is the first time
Published 15 Sep, 2014 12:00am
Clean coal key to combating climate change: Rio Tinto

Clean coal key to combating climate change: Rio Tinto

Mining giant Rio Tinto said on September 10 clean coal was key to tackling climate change and that developing the technology was a challenge greater than the first moon landing. The firm's energy chief Harry Kenyon-Slaney compared the twin challenges of m
Published 15 Sep, 2014 12:00am
Web cam used to detect abnormal heart rhythm

Web cam used to detect abnormal heart rhythm

With a regular laptop camera and sophisticated software, researchers may be able to detect atrial fibrillation about as accurately as with a standard electrocardiogram (ECG), according to a new pilot study. The technology records and analyses video footag
Published 15 Sep, 2014 12:00am
China eyes first space station by around 2022

China eyes first space station by around 2022

China expects to establish its first space station by around 2022, building upon the experience of an experimental module already in orbit, state media said on September 10. China's leaders have set a priority on advancing its space program, with Presiden
Published 15 Sep, 2014 12:00am
Japan researchers conduct first iPS stem cell retina surgery

Japan researchers conduct first iPS stem cell retina surgery

Japanese researchers on September 12 conducted the world's first surgery with "iPS" stem cells on serious eye disease, possibly paving the way for treatment of a common cause of blindness, two institutions involved said.
Published 15 Sep, 2014 12:00am
Declining likelihood of El Nino by year-end: UN

Declining likelihood of El Nino by year-end: UN

The "El Nino" phenomenon, which sparks climate extremes around the globe, could take hold in the Pacific Ocean by the end of the year, but the likelihood has declined since June, the UN said on September 08. There is now a 55-60 percent likelihood that El
Published 15 Sep, 2014 12:00am
Area of animal-to-human Ebola risk bigger than thought: study

Area of animal-to-human Ebola risk bigger than thought: study

More than 22 million people live in parts of Africa where conditions exist for the Ebola virus to jump from animals to humans, a bigger area than previously thought, researchers said on September 08. While the actual risk of animal-to-human or "zoonotic"
Published 15 Sep, 2014 12:00am
Tech giants bet on 'smart home' revolution

Tech giants bet on 'smart home' revolution

It's long been the stuff of science fiction, but tech giants hope the "smart home", where gadgets talk to each other and the fridge orders the milk, will soon become reality. The futuristic vision of wireless domestic bliss that puts people and their smar
Published 15 Sep, 2014 12:00am
Inkjet printers better than laser option for family use

Inkjet printers better than laser option for family use

Inkjet printers are more suitable for a family's needs than a laser printer, offering better value for money, reports German magazine PCgo. Even though an inkjet used by an entire family will go through multiple ink cartridges, the constant use means the
Published 15 Sep, 2014 12:00am
Apple unveils new products and services

Apple unveils new products and services

In an ambitious series of launches, technology giant Apple unveiled a range of new products and services at its event on Tuesday. Here is a list:
Published 15 Sep, 2014 12:00am
Free voice calls merged into Google Hangouts app

Free voice calls merged into Google Hangouts app

Google on Wednesday began letting people use its Hangouts message application for mobile devices to make free or low-cost voice calls over the Internet. "Hangouts already makes it easy to send a quick message, or start a group video chat," Google product
Published 15 Sep, 2014 12:00am
Top trends at IFA 2014, Europe's biggest gadget fair

Top trends at IFA 2014, Europe's biggest gadget fair

From smartwatches to "phablets" to precision robot vacuum cleaners, Europe's IFA consumer electronics show showcases the latest in gadget wizardry. Here are the main trends of this year's five-day fair in Berlin, which closes on Wednesday:
Published 15 Sep, 2014 12:00am
Clear your iOS device of useless old data

Clear your iOS device of useless old data

The longer one uses an iPad or iPhone, the more data junk will gather up in the machines. A lot of this then falls into the "other" category, highlighted in yellow, of an iTunes directory. The problem is, since users tend not to have access to the data sy
Published 15 Sep, 2014 12:00am
Set up location-based reminders with iOS

Set up location-based reminders with iOS

Do you want to be reminded to pick up your shirts from the laundry when you leave the office? No problem, if you're using a mobile device with version 7 or higher of iOS. The system's location-based reminders can be called up in the Reminders app by touch
Published 15 Sep, 2014 12:00am
TuneIn can turn your smartphone into a radio

TuneIn can turn your smartphone into a radio

Even if your smartphone does not have a radio receiver built in, it's still possible to listen to radio with it. To do so, you'll have to access your favourite station's internet stream with an app like TuneIn. The free app for Android, iOS and Windows Ph
Published 15 Sep, 2014 12:00am
Shortened weblinks: what to do if you're suspicious

Shortened weblinks: what to do if you're suspicious

It's hard to remember all the often random letters and symbols of a standard website address, which is why shortened URLs (uniform resource locators) have become such a common tool for online surfing. These more compact weblinks - favourites of Twitter fe
Published 15 Sep, 2014 12:00am
Dubai's ICD buys $300 million stake in Dangote Cement

Dubai's ICD buys $300 million stake in Dangote Cement

Sovereign fund Investment Corp of Dubai (ICD) has bought a 1.4 percent stake in Dangote Cement, Nigeria's biggest company by market capitalisation, for $300 million, a Dangote spokesman said on September 08. Dangote Cement spokesman Carl Franklin confirme
Published 15 Sep, 2014 12:00am
Dubai's ICD buys $300 million stake in Dangote Cement

Dubai's ICD buys $300 million stake in Dangote Cement

Sovereign fund Investment Corp of Dubai (ICD) has bought a 1.4 percent stake in Dangote Cement, Nigeria's biggest company by market capitalisation, for $300 million, a Dangote spokesman said on September 08. Dangote Cement spokesman Carl Franklin confirme
Published 15 Sep, 2014 12:00am
Scandinavian airline tops third quarter earnings forecast

Scandinavian airline tops third quarter earnings forecast

Scandinavian airline SAS reported a smaller than expected fall in quarterly earnings on September 10, boosted by cost cuts, and reiterated it has the potential to post a full-year pretax profit.
Published 15 Sep, 2014 12:00am
Global credit funds seeking to add Asia experts: IFR

Global credit funds seeking to add Asia experts: IFR

Asset managers are looking to hire more research analysts in Asia, in a sign that the rapid growth of the region's bond markets is attracting the attention of global funds, IFR reported. Asia's leading companies, from Hong Kong's Hutchison Whampoa to Indi
Published 15 Sep, 2014 12:00am
SKF affirms third quarter outlook

SKF affirms third quarter outlook

Sweden's SKF, the world's top bearings maker, on September 10 stood by it's outlook for unchanged demand in the third quarter compared with the second quarter. "SKF's outlook for the third quarter doesn't change," Chief Executive Tom Johnstone told a Capi
Published 15 Sep, 2014 12:00am
SKF affirms third quarter outlook

SKF affirms third quarter outlook

Sweden's SKF, the world's top bearings maker, on September 10 stood by it's outlook for unchanged demand in the third quarter compared with the second quarter. "SKF's outlook for the third quarter doesn't change," Chief Executive Tom Johnstone told a Capi
Published 15 Sep, 2014 12:00am
Dubai Holding unit posts $572.2 million first half profit

Dubai Holding unit posts $572.2 million first half profit

A unit of Dubai Holding, a conglomerate owned by Dubai's ruler, said on September 08 it earned 2.1 billion dirhams ($572.2 million) in net profit in the first half of 2014. Dubai Holding Commercial Operations Group (DHCOG), hospitality, media and property
Published 15 Sep, 2014 12:00am
Dubai Holding unit posts $572.2 million first half profit

Dubai Holding unit posts $572.2 million first half profit

A unit of Dubai Holding, a conglomerate owned by Dubai's ruler, said on September 08 it earned 2.1 billion dirhams ($572.2 million) in net profit in the first half of 2014. Dubai Holding Commercial Operations Group (DHCOG), hospitality, media and property
Published 15 Sep, 2014 12:00am
France to host Switzerland in Davis Cup final

France to host Switzerland in Davis Cup final

France will host Switzerland in the Davis Cup final in November after Roger Federer gave the Swiss the winning point against Italy in Geneva on Sunday. Federer reached the first Davis Cup final of his career with a comfortable 6-2, 6-3, 7-6 (7/4) win over
Published 15 Sep, 2014 12:00am
Munich Re sees tough competition

Munich Re sees tough competition

The world's largest reinsurer, Munich Re, expects tough price competition in the coming months as peers jostle for market share, prompting the firm to intensify efforts to find new business areas. "Some of our peers go for volume; they think market share
Published 15 Sep, 2014 12:00am
Samsung accuses LG of vandalising washing machines

Samsung accuses LG of vandalising washing machines

Samsung Electronics Co Ltd has accused the head of rival LG Electronics Inc's home appliances business of damaging Samsung washing machines at retail stores in Germany and asked Seoul prosecutors to investigate. Samsung, in a statement on Sunday, said it
Published 15 Sep, 2014 12:00am
Chile will likely grow around two percent in 2014

Chile will likely grow around two percent in 2014

Chile's economy will likely grow around 2 percent this year, lower than previously forecast, after a deeper-than-expected slowdown in the last four months, Finance Minister Alberto Arenas said in an interview with a newspaper on Sunday. "Our projections a
Published 15 Sep, 2014 12:00am
Deutsche Telekom says finds no evidence of NSA, GCHQ surveillance

Deutsche Telekom says finds no evidence of NSA, GCHQ surveillance

Deutsche Telekom said it had found no indication that the US National Security Agency (NSA) and Britain's GCHQ had obtained access to its computer network, but said it was investigating the matter following a report in Sunday's Der Spiegel magazine. "We a
Published 15 Sep, 2014 12:00am
South Africa's Eskom to raise more debt

South Africa's Eskom to raise more debt

South Africa's government has approved a support package for state-run power utility Eskom, which will include the company raising additional debt and receiving an equity injection from the state. Eskom has huge financial problems because its costs are ru
Published 15 Sep, 2014 12:00am
China on track to develop Indian railways

China on track to develop Indian railways

China will pledge to invest billions of dollars in India's rail network during a visit by President Xi Jinping this week, bringing more than diplomatic nicety to the neighbours' first summit since Narendra Modi became Prime Minister in May.
Published 15 Sep, 2014 12:00am
Sinopec sells $17.5 billion stake in retail unit to investors

Sinopec sells $17.5 billion stake in retail unit to investors

Sinopec Corp will sell a 107.1 billion yuan ($17.5 billion) stake in its retail unit to a group of 25 Chinese and foreign investors, Asia's top oil refiner said in a statement on Sunday. The sale, the country's biggest privatisation since president Xi Jin
Published 15 Sep, 2014 12:00am
Tough time to sell Ukraine president's 'mouthwatering' candy empire

Tough time to sell Ukraine president's 'mouthwatering' candy empire

A chance to buy the candy empire of Ukrainian President Petro Poroshenko is the kind of opportunity in a fast-growing market that would normally have multinational confectioners - like Nestle or Cadbury's parent Mondelez - drooling at the prospect. But de
Published 15 Sep, 2014 12:00am
Heineken family rejected SABMiller takeover offer

Heineken family rejected SABMiller takeover offer

Global brewer SABMiller has made a takeover approach to the family owners of Heineken that has been rejected, Bloomberg reported on Sunday, citing people with knowledge of the matter. The newswire said SABMiller's approach was made as part of a strategy t
Published 15 Sep, 2014 12:00am
Kuwait NBK to help finance mega oil project

Kuwait NBK to help finance mega oil project

The National Bank of Kuwait's investment arm has been selected as exclusive financing adviser for a $12-billion clean fuel refineries project, the bank said in a statement on Sunday. State-owned Kuwait National Petroleum Co. (KNPC), which owns the mega pr
Published 15 Sep, 2014 12:00am
Kuwait NBK to help finance mega oil project

Kuwait NBK to help finance mega oil project

The National Bank of Kuwait's investment arm has been selected as exclusive financing adviser for a $12-billion clean fuel refineries project, the bank said in a statement on Sunday. State-owned Kuwait National Petroleum Co. (KNPC), which owns the mega pr
Published 15 Sep, 2014 12:00am
Lucic-Baroni beats Venus for first title since 1998

Lucic-Baroni beats Venus for first title since 1998

Croatia's Mirjana Lucic-Baroni won her first WTA title since 1998 on Sunday, defeating former world number one Venus Williams 6-4, 6-3 to capture the Quebec City tournament. The 32-year-old former teen star won her only two prior WTA titles on home soil a
Published 15 Sep, 2014 12:00am
Mitsubishi Corp may invest in Indonesia auto plant

Mitsubishi Corp may invest in Indonesia auto plant

Japan's Mitsubishi Corp is considering investing in a new car factory in Indonesia with its partners, the trading house said, as the country seeks to lure investments into manufacturing and reduce its reliance on volatile resources. Mikio Sasaki, Mitsubis
Published 15 Sep, 2014 12:00am
UBS expects mergers among smaller banks in Europe

UBS expects mergers among smaller banks in Europe

Swiss bank UBS's Chairman Axel Weber expects mergers among smaller banks in Europe, mainly in the retail sector, while larger lenders were less likely to join up due to regulatory concerns. "Consolidation will certainly happen among smaller banks," Weber
Published 15 Sep, 2014 12:00am
EU bank tests may miss trillion dollar risk

EU bank tests may miss trillion dollar risk

Some European banks being checked by regulators for signs of capital weakness may be sitting on up to a trillion dollars of potentially unsafe assets because their holdings of sovereign bonds are not being fully risk assessed, a new study has found. Post-
Published 15 Sep, 2014 12:00am
Japan lady cricketers blaze trail after samurai stumped

Japan lady cricketers blaze trail after samurai stumped

Blood-thirsty samurai warriors once threatened to kill the game of cricket in Japan before a ball had been bowled in anger. Now the country's trail-blazing women cricketers boast an Asian Games bronze medal and even their own pint-sized answer to Kevin Pi
Published 15 Sep, 2014 12:00am
Mayweather tweaks game plan to beat Maidana

Mayweather tweaks game plan to beat Maidana

Undefeated boxer Floyd Mayweather scoffed at claims he is showing signs of aging, saying he's kept his perfect record intact because of his ability to make mid-fight adjustments. Mayweather won his second-straight fight over Marcos Maidana, beating the Ar
Published 15 Sep, 2014 12:00am
Falcao debuts as Man United crush QPR

Falcao debuts as Man United crush QPR

Radamel Falcao made his debut as Manchester United belatedly kick-started their season with a breezy 4-0 win at home to Queens Park Rangers in the Premier League on Sunday. The 28-year-old Colombia striker, a loan signing from Monaco, made his entrance as
Published 15 Sep, 2014 12:00am
Lisicki wins Hong Kong Open

Lisicki wins Hong Kong Open

Sabine Lisicki justified her top seeding by winning the inaugural WTA Hong Kong Open 7-5, 6-3 against Karolina Pliskova of the Czech Republic on Sunday. The German had endured a lean time on tour since losing the Wimbledon final to Marion Bartoli last yea
Published 15 Sep, 2014 12:00am
Rossi wins at home while Marquez crashes

Rossi wins at home while Marquez crashes

Valentino Rosso returned to the top of the MotoGP podium with a home win at the San Marino Grand Prix on Sunday while runaway championship leader Marc Marquez suffered a rare spill and finished 15th. The victory at Misano, the eastern Italian circuit near
Published 15 Sep, 2014 12:00am
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