Shares of IBM plummeted Monday after earnings collapsed on a $4.7 billion charge and weak sales raised questions about the technology giant''''s efforts to remake itself. Third-quarter earnings sank from $4.0 billion a year ago period to just $18 million,
Shares of IBM plummeted Monday after earnings collapsed on a $4.7 billion charge and weak sales raised questions about the technology giant''s efforts to remake itself. Third-quarter earnings sank from $4.0 billion a year ago period to just $18 million, m
Shares of IBM plummeted Monday after earnings collapsed on a $4.7 billion charge and weak sales raised questions about the technology giant's efforts to remake itself. Third-quarter earnings sank from $4.0 billion a year ago period to just $18 million, ma
Shares of IBM plummeted Monday after earnings collapsed on a $4.7 billion charge and weak sales raised questions about the technology giant's efforts to remake itself. Third-quarter earnings sank from $4.0 billion a year ago period to just $18 million, ma
In a major breakthrough, the Competition Commission of Pakistan (CCP) has issued show cause notices to Pakistan Automotive Manufacturers Authorised Dealers Association (PAMADA) and its 44 members for prima facie cartelization, collusion, price fixation an
In a major breakthrough, the Competition Commission of Pakistan (CCP) has issued show cause notices to Pakistan Automotive Manufacturers Authorised Dealers Association (PAMADA) and its 44 members for prima facie cartelization, collusion, price fixation an
In a major breakthrough, the Competition Commission of Pakistan (CCP) has issued show cause notices to Pakistan Automotive Manufacturers Authorised Dealers Association (PAMADA) and its 44 members for prima facie cartelization, collusion, price fixation an
In order to encourage Islamic banking, State Bank of Pakistan (SBP) Monday eased Minimum paid-up Capital Requirement (MCR) for setting up new Islamic banking subsidiary. As per the SBP announcement, a new Islamic banking subsidiary can be established with
In order to encourage Islamic banking, State Bank of Pakistan (SBP) Monday eased Minimum paid-up Capital Requirement (MCR) for setting up new Islamic banking subsidiary. As per the SBP announcement, a new Islamic banking subsidiary can be established with
In order to encourage Islamic banking, State Bank of Pakistan (SBP) Monday eased Minimum paid-up Capital Requirement (MCR) for setting up new Islamic banking subsidiary. As per the SBP announcement, a new Islamic banking subsidiary can be established with
Provincial ministers and special assistants to Chief Minister Sindh from Muttahida Qaumi Movement (MQM) on Monday resigned as per their party's decision to part ways with the PPP-led coalition government. Sindh Health Minister Dr Sagheer Ahmad and Commerc
Provincial ministers and special assistants to Chief Minister Sindh from Muttahida Qaumi Movement (MQM) on Monday resigned as per their party's decision to part ways with the PPP-led coalition government. Sindh Health Minister Dr Sagheer Ahmad and Commerc
The government will offer 311 million OGDCL shares (7.5 percent of its holding) to the international and domestic institutional investors most probably by next month with a view to mobilising a minimum of $770 million. "We are going to finalise the book b
The government will offer 311 million OGDCL shares (7.5 percent of its holding) to the international and domestic institutional investors most probably by next month with a view to mobilising a minimum of $770 million. "We are going to finalise the book b
The government will offer 311 million OGDCL shares (7.5 percent of its holding) to the international and domestic institutional investors most probably by next month with a view to mobilising a minimum of $770 million. "We are going to finalise the book b
Federal Minister for Finance Ishaq Dar on Monday expressed the hope that the country''s foreign exchange reserves would improve after securing two tranches from the International Monetary Fund (IMF), sale of Sukuk and completion of OGDCL transaction. "We
Federal Minister for Finance Ishaq Dar on Monday expressed the hope that the country's foreign exchange reserves would improve after securing two tranches from the International Monetary Fund (IMF), sale of Sukuk and completion of OGDCL transaction. "We a
Federal Minister for Finance Ishaq Dar on Monday expressed the hope that the country's foreign exchange reserves would improve after securing two tranches from the International Monetary Fund (IMF), sale of Sukuk and completion of OGDCL transaction. "We a
The Supreme Court on Monday granted permission to the federal government to sell off 10 percent shares of Oil and Gas Development Company Limited (OGDCL) of its 85 percent holding in the company on a condition that privatisation proceeds would not be spen
The Supreme Court on Monday granted permission to the federal government to sell off 10 percent shares of Oil and Gas Development Company Limited (OGDCL) of its 85 percent holding in the company on a condition that privatisation proceeds would not be spen
The Supreme Court on Monday granted permission to the federal government to sell off 10 percent shares of Oil and Gas Development Company Limited (OGDCL) of its 85 percent holding in the company on a condition that privatisation proceeds would not be spen
The Supreme Court on Monday granted permission to the federal government to sell off 10 percent shares of Oil and Gas Development Company Limited (OGDCL) of its 85 percent holding in the company on a condition that privatisation proceeds would not be spen
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
The Asian naphtha crack climbed by about 2 percent to a three-session high of $68.85 a tonne on Monday, thanks to more demand although supplies were still healthy. South Korea's Lotte Chemical returned to the market on Monday to buy a first-half December
European thermal coal futures fell on Monday to $71 a tonne, their lowest since March 2009, as weak oil prices and oversupply in the coal market weighed on prices. API2 2015 coal futures traded at $71.25 a tonne on Monday afternoon, down 40 cents on Frida
Rainfall mixed with sun across most of Ivory Coast's cocoa regions last week promised an abundant main crop, though excess humidity damaged pods and weighed on prospects in some parts of the country, farmers said on Monday. The 2014/15 main crop in the wo
Futures moved both ways on the forward cottonseeds oilcake market on Monday in the process of trading, dealers said. The December contract closed at Rs 1498.60, but opened with a fall of 30 paisa at Rs 1498.30, they said. The January vaida ended at Rs 169
Prices showed further decline on the cotton market on Monday in the process of moderate trading activity, dealers said. The official spot rate was unchanged at Rs 5,200, they added. In the ready session, approximately, 21,000 bales of cotton changed hands
The European Union this week granted export licences for 945,000 tonnes of soft wheat, taking the total since the beginning of the 2014/2015 (July-June) season to 8.4 million tonnes, official data showed on Thursday. The total so far this season compared
Brazil's soya planting is 10 percent complete for the 2014-15 crop, the slowest for this time of year since the 2008-09 season, local consultancy AgRural said on Monday. Planting advanced just three percentage points from the previous week after a long dr
An upward trend was seen on the wholesale grain market on Monday in the process of modest trading, dealers said. On the cereals side, only Gur prices showed rising trend, gaining Rs 200 to Rs 6800 and 7500 due to rise in demand at the beginning of winter,
On Friday at Pakistan Mercantile Exchange (PMEX) value traded was recorded at PKR 2.160 billion. The number of lots traded was 11,740 and PMEX Commodity Index closed at 2,872. Major business was contributed by crude oil amounting to PKR 1.593 billion, fol
Tunisia's state grains agency bought 151,000 tonnes of optional-origin durum wheat in a tender on Friday, European traders said. It paid prices ranging from $524.00 to $547.00 a tonne, cost and freight. The volume purchased consisted of four 25,000-tonne
Russian wheat export prices were slightly up last week as a weaker rouble limited supply, analysts said on Monday. Russia, a major global wheat exporter, has seen its currency drop against the dollar and the euro this year due to falling oil prices and We
Indian soyabean futures fell on Monday as arrival of new harvests started picking up, while settlement of the current month contract also dented buying interest. Soyaoil futures tracked weaker trade in rival palm oil on the Bursa Malaysia Derivatives Exch
US natural gas futures settled a few cents lower on Friday after dropping to their lowest for the year in earlier trading on forecasts for weak heating demand over the next two weeks and continued big storage builds. After falling 3 percent over the prior
Private importers in Iran bought 95,000 to 120,000 tonnes of corn in the past few weeks, adding to other recent large grain purchases as the country builds up strategic stocks, trade sources said on Friday. The sources said the corn, to be sourced from th
The Karachi Port handled 270,959 tonnes of cargo comprising 236,401 tonnes of import cargo and 34,558 tonnes of export cargo including 5,458 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargo of 236
A blaze destroyed a sugar warehouse operated by Cargill Inc and Biosev at Brazil's Santos port, the largest in Latin America, early on Monday, the third major fire at a sugar export terminal there over the last year. Firefighters had the blaze under contr
India moved a step closer to selling a stake in state-run oil company ONGC on Monday, keeping up Prime Minister Narendra Modi's momentum on economic reform after bringing prices of diesel and natural gas closer in line with the market. A barn-storming per
Morocco needs external borrowing of 24 billion dirhams ($2.8 billion) in 2015 to plug a budget deficit estimated at 4.3 percent of gross domestic product, Finance Minister Mohamed Boussaid said on Monday. The government is likely to hit a 4.9 percent budg
Areva chief executive Luc Oursel announced Monday he had stepped down for health reasons, more than three years after he was appointed to head up the French nuclear giant. "Under these very difficult personal circumstances, and despite my very strong comm
Migrant farm workers in South Korea face rampant abuse under a "shameful" government work permit system that encourages exploitation, Amnesty International said in a report published Monday. The report, which the South Korean Labour Ministry suggested was
Migrant farm workers in South Korea face rampant abuse under a "shameful" government work permit system that encourages exploitation, Amnesty International said in a report published Monday. The report, which the South Korean Labour Ministry suggested was
India promised on Monday to open up the coal industry to private players and moved closer to selling a stake in a state-run oil company, as Prime Minister Narendra Modi picked up the pace on economic reform days after relaxing fuel price controls. Using a
Russia said on Monday it will ban European Union meat products including pork, chicken and beef fats and offal, widening a ban on European food imports in a tit-for-tat trade spat. The government agriculture watchdog, Rosselkhoznadzor, is imposing the ban
Banks who submit quotes for compiling Libor interest rates will have to follow a manual of instructions to avoid a repeat of the rigging seen in the past, the benchmark's new administrator said on Monday. Ten banks and brokerages have paid more than $6 bi
The European Union has ended a long-running telecoms row with China, the EU's trade chief said on Monday, dropping a threat to levy punitive tariffs on Chinese telecoms exports and easing tensions between two of the world's top trading powers. As Reuters
Lufthansa pilots launched a strike Monday, deepening Germany's travel chaos after train drivers stopped work at the weekend just as school holidays began in much of the country. The top-selling Bild daily complained that "ping-pong strikes are crippling o
Germany risks coming dangerously close to recession, the central bank said on Monday in a forecast that predicted little or no economic growth in the second half of the year. In the Bundesbank's gloomy assessment, the euro zone's biggest economy will stay
The British economy will slow down sharply next year due to political uncertainty and a potential referendum on membership of the EU, a leading forecaster said on Monday. In an autumn forecast released after a turbulent week on world markets, EY ITEM Club
German retail giant Metro AG on Monday reported a four-percent decline in its yearly sales to 63 billion euros ($80 billion), largely because of a strong euro and divestments. However the group said it would still meet its pre-tax operating profit of 1.75
German retail giant Metro AG on Monday reported a four-percent decline in its yearly sales to 63 billion euros ($80 billion), largely because of a strong euro and divestments. However the group said it would still meet its pre-tax operating profit of 1.75
France and Germany, the eurozone's two biggest economies, promised Monday to do what was needed to boost investment in the single currency area at a time when the region's economy is flagging badly. "We agreed to draw up a joint paper by the time of the n
Most Middle Eastern stock markets fell on Monday as a rebound by global equities turned out to be short-lived, but Saudi Arabia's bourse rose after a string of strong quarterly earnings. Stock indexes in the United Arab Emirates and Qatar rose in early tr
Tokyo stocks jumped 3.98 percent on Monday, notching up their biggest one-day points gain in over a year following a sharp rise on Wall Street and as a weaker yen boosted exporters. The Nikkei 225 index at the Tokyo Stock Exchange, which had closed at a f
US stocks were mixed on Monday as the S&P 500 and Nasdaq advanced but the Dow fell as quarterly results from IBM disappointed. IBM shares slumped 7.5 percent to $168.46 as the biggest drag on both the Dow and S&P 500 after third-quarter earnings fell well
South African stocks treaded water on Monday ahead of a budget speech later in the week, even as investors continued to hammer Johannesburg-listed bullion producers such as AngloGold Ashanti. South African Finance Minister Nhlanhla Nene will deliver his m
Indonesian share index hit a near three-week closing high on Monday amid inflows and a rise in the rupiah on expectations of economic reforms by the new president, while most other markets in Southeast Asia gained along with strength in global stocks. Jak