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May 12, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-10-30
PSM management: AGP detects huge financial loss to national kitty

PSM management: AGP detects huge financial loss to national kitty

Auditor General of Pakistan (AGP) has detected a billion of rupees financial loss to the national exchequer by the Pakistan Steel Mills (PSM) management. Auditor General maintained that the corporation has not complied with the requirements of IAS 16 "pro
Published 30 Oct, 2014 12:00am
Law, order in Balochistan: Budget not being spent properly: IL-Pakistan

Law, order in Balochistan: Budget not being spent properly: IL-Pakistan

Every year the provincial government of Balochistan allocates funds for law and order in the annual budget but the worsening security situation in the province shows that either the allocated funds is not being spent over the improvement of law and order
Published 30 Oct, 2014 12:00am
Cantonment board sets up emergency centre

Cantonment board sets up emergency centre

The Cantonment Board Hyderabad has informed that the Cyclone (Nilofer) Emergency Centre has been established in the office of Cantonment Board Hyderabad with Phone Nos 022-9200102 and 022-9200205 which will remain operational round-o-clock, throughout dur
Published 30 Oct, 2014 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (October 29, 2014)

Published 30 Oct, 2014 12:00am
SBP governor calls on Dar

SBP governor calls on Dar

Governor State Bank Ashraf Mehmood Wathra called on Federal Minister for Finance Senator Ishaq Dar here on Wednesday. According to a statement issued by the Finance Ministry during the meeting performance of the banking sector in the last quarter was disc
Published 30 Oct, 2014 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (October 29, 2014).

Published 30 Oct, 2014 12:00am
ECP asks lower court to verify votes polled in NA-122

ECP asks lower court to verify votes polled in NA-122

The Election Commission of Pakistan (ECP) on Wednesday directed an additional district and session court judge in Lahore to verify votes polled in the NA-122 constituency in the general election 2013. Sources in the ECP said that the decision has been tak
Published 30 Oct, 2014 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 30 Oct, 2014 12:00am
PPP MPA membership restored

PPP MPA membership restored

The Supreme Court on Wednesday restored provincial assembly membership of Pakistan People's Party's leader Dr Abdul Sattar Rajpar, which was suspended by Election Tribunal Sindh. A three-member bench headed by Chief Justice Nasirul Mulk resumed the hearin
Published 30 Oct, 2014 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 30 Oct, 2014 12:00am
Ministry furious at PSM 'shutdown'

Ministry furious at PSM 'shutdown'

Ministry of Industries and Production (MoI&P) is reportedly furious at Chief Executive Officer (CEO) Pakistan Steel Mills (PSM) Major-General Zaheer Khan (retired) due to "informal closure" of the mills for the last 20 days, well informed sources told
Published 30 Oct, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (October 29, 2014).

Published 30 Oct, 2014 12:00am
Protest demo held against OGDCL sell-off

Protest demo held against OGDCL sell-off

The employees of Oil and Gas Development Company Limited (OGDCL) on Wednesday held a protest demonstration against the planned privatisation of state owned oil/gas Exploration and Production Company (E&P). The Islamabad police baton charged the protesters
Published 30 Oct, 2014 12:00am
The Weather

The Weather

The weather report on Wednesday (October 29, 2014) and the forecast for Thursday (October 30, 2014).

Published 30 Oct, 2014 12:00am
Q1 net sales revenues of OGDCL up by Rs 64.395 billion

Q1 net sales revenues of OGDCL up by Rs 64.395 billion

The net sales revenue of Oil and Gas Development Company Limited (OGDCL) has increased to Rs 64.395 billion compared to Rs 62.426 billion in the corresponding period of last financial year. According to a press release, the Board of Directors of Oil & Gas
Published 30 Oct, 2014 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (October 29, 2014).

Published 30 Oct, 2014 12:00am
Dar discusses various matters with Japanese envoy

Dar discusses various matters with Japanese envoy

The Federal Minister for Finance, Senator Mohammad Ishaq Dar will visit Japan to explore new avenues of economic co-operation and seeking investment for projects in Pakistan. The Finance Minister discussed matters pertaining to such co-operation with the
Published 30 Oct, 2014 12:00am
KP police launch SMS complaint service

KP police launch SMS complaint service

In order to bring more improvement in close contact with the general public, ensure co-ordinated efforts against crimes and in-time action for redressal of public complaints all Additional IGPs, DIGs, DPOs and SDPOs in Khyber Pakhtunkhwa have been allotte
Published 30 Oct, 2014 12:00am
UNSDP data AGP rejects FBR claim

UNSDP data AGP rejects FBR claim

The Auditor General of Pakistan (AGP) has rejected the claim of the Federal Board of Revenue (FBR) that the import figures of the United Nations Statistics Division for Pakistan (UNSDP) are not authentic, as the AGP has detected a massive shortfall in dut
Published 30 Oct, 2014 12:00am
Killing of civilian in Rawlakot Protest lodged with India

Killing of civilian in Rawlakot Protest lodged with India

Pakistan on Wednesday lodged a protest with India over the indiscriminate firing by Indian troops in Rawlakot sector that resulted in killing of a 70-year-old civilian. According to Foreign Office spokesperson Tasnim Aslam, the protest was lodged through
Published 30 Oct, 2014 12:00am
DG ISI pays farewell call on Nisar

DG ISI pays farewell call on Nisar

Outgoing Director General Inter Services Intelligence Agency (ISI) Lieutenant General Zaheer-ul-Islam made a farewell call on Federal Minister for Interior and Narcotics Control Chaudhry Nisar Ali here on Wednesday. Speaking on the occasion, Chaudhry Nisa
Published 30 Oct, 2014 12:00am
Chief Minister grieved over Jhang road accident

Chief Minister grieved over Jhang road accident

Punjab Chief Minister Muhammad Shahbaz Sharif has expressed grief over the accident to an army vehicle on Jhang Road near Chiniot. The Chief Minister has expressed sympathies and condolences with the families of martyrs. He directed that best treatment fa
Published 30 Oct, 2014 12:00am
GE expands global wind presence with first order in Pakistan

GE expands global wind presence with first order in Pakistan

Executing on growing the presence of renewable energy around the world, GE recently announced that it will supply equipment and procurement contractor HydroChina and wind farm customer Sapphire with 33 GE 1.5-82.5 wind turbines for the Sapphire Wind Power
Published 30 Oct, 2014 12:00am
Unannounced loadshedding badly affecting small businesses

Unannounced loadshedding badly affecting small businesses

Thousands of small businesses and small industrial units have been incurring losses in the wake of prolonged power failures and unannounced loadshedding. Micro, small and medium enterprises (MSME) which include lathe machines, dry cleaning, battery chargi
Published 30 Oct, 2014 12:00am
Passing out parade held at PAF Base Korangi Creek

Passing out parade held at PAF Base Korangi Creek

Passing out of Aero Apprentices was held at PAF Base, Korangi Creek. Air Marshal Sohail Gul Khan Vice Chief of the Air Staff, PAF was the chief guest of the ceremony. Addressing the Aero Apprentices and all invitees, he said Pakistan Air Force was a highl
Published 30 Oct, 2014 12:00am
8th annual assembly of microfinance stakeholders on November 25

8th annual assembly of microfinance stakeholders on November 25

The 8th annual assembly of microfinance stakeholders will be held on 25th November 2014 in Karachi, attracting numerous experts and operational heads who will share their wisdom and discuss the sector's future strategy. The forum will dilate on critical n
Published 30 Oct, 2014 12:00am
The answer is good governance

The answer is good governance

That PTI chairman Imran Khan's anti-government protest still persists is nothing but a profound challenge to the incumbent Prime Minister Nawaz Sharif. That is why he met leaders of all parliamentary parties to take stock of post-Dr Qadri dharna situation
Published 30 Oct, 2014 12:00am
Altaf demands population census under army's supervision

Altaf demands population census under army's supervision

Mutahida Qaumi Movement (MQM) chief Altaf Hussain on Wednesday called for population census under the supervision of army. Speaking at an impromptu news conference from London via phone, Altaf Hussain said that a number of new problems are cropping up due
Published 30 Oct, 2014 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 30 Oct, 2014 12:00am
Pioneer of Bestway Group retires

Pioneer of Bestway Group retires

Kaiser Yousaf, a pioneer of wholesale trade of Bestway Group, retired from the business on Wednesday. Kaiser began with Bestway in 1982 as a non-food buyer at the Victoria Road depot in Acton. His career took him all across England and Wales and he was in
Published 30 Oct, 2014 12:00am
SECP relocates Quetta CRO

SECP relocates Quetta CRO

The Securities and Exchange Commission of Pakistan (SECP) has moved its Quetta Company Registration Office (CRO) to a new location. The CRO is now located in the Aiwan-e-Mashriq, Plot No 4-A, Ground Floor, Opposite FC Headquarters, Hali Road, Model Town,
Published 30 Oct, 2014 12:00am
EOBI will not sustain till 2021, National Assembly told

EOBI will not sustain till 2021, National Assembly told

Minister for Defence Production, Rana Tanveer Hussain Wednesday said that the Employees Old Age Benefit Institution (EOBI) will not sustain till 2021. Responding to a calling attention notice regarding failure of EOBI to increase the amount of pension of
Published 30 Oct, 2014 12:00am
Curbing under-invoicing: FBR asked to devise mechanism

Curbing under-invoicing: FBR asked to devise mechanism

Auditor General of Pakistan (AGP) has directed the Federal Board of Revenue (FBR) to devise a mechanism to verify the actual price of the imported commodities directly from the manufacturers and suppliers of the major trade partners with whom free trade a
Published 30 Oct, 2014 12:00am
State-of-the-art crop forecasting system installed at Suparco: Bosan

State-of-the-art crop forecasting system installed at Suparco: Bosan

Federal Minister National Food Security and Research Sikandar Hayat Khan Bosan has said that state-of-the-art crop forecasting system has been installed at Suparco and the Crop Reporting Services of Punjab and Sindh by the Food and Agriculture Organisatio
Published 30 Oct, 2014 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (October 29, 2014).

Published 30 Oct, 2014 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 30 Oct, 2014 12:00am
Indigenous on campus training program concludes at LUMHS

Indigenous on campus training program concludes at LUMHS

The concluding session of the "Indigenous on Campus Training Program" at Liaquat University of Medical & Health Sciences Jamshoro was held on Wednesday. The program was initiated under the Modern University Governance Program in collaboration with Learnin
Published 30 Oct, 2014 12:00am
Vohra elected SVP of PSNS

Vohra elected SVP of PSNS

Principal Post Graduate Medical Institute Professor Anjum Habib Vohra has been elected as senior vice-president of the Pakistan Society of Neuro Surgeons (PSNS). He was elected in the annual elections of the society held here Wednesday. As many as 150 mem
Published 30 Oct, 2014 12:00am
KP Assembly demands release of Aafia Siddiqui

KP Assembly demands release of Aafia Siddiqui

Khyber Pakhtunkhwa Assembly on Wednesday passed a unanimous resolution demanding the release of Aafia Siddiqui from the US prison. The resolution tabled by Mohammad Ali, Jamaat-i-Islami (JI) MPA from district Dir Upper was also carrying the signatures of
Published 30 Oct, 2014 12:00am
LHC annuls PMDC's policy for admission to MBBS

LHC annuls PMDC's policy for admission to MBBS

The Lahore High Court here on Wednesday set aside the Pakistan Medical and Dental Council (PMDC) quota-based admission policy in MBBS and ruled that it was the violation of fundamental right. Sadia and Asma Javed and others, candidates for MBBS have filed
Published 30 Oct, 2014 12:00am
Treason trial: Court urged to dismiss defence's plea

Treason trial: Court urged to dismiss defence's plea

A prosecutor on Wednesday urged a special court trying former army chief and President Pervez Musharraf to dismiss defence's plea through which it has sought the inclusion of former Prime Minister Shaukat Aziz and others as abettors in the case. Appearing
Published 30 Oct, 2014 12:00am
Malala to donate $50,000 to Gaza

Malala to donate $50,000 to Gaza

Malala Yousafzai, the youngest ever Nobel Peace Prize laureate, is to donate $50,000 (39,000 euros) to help rebuild United Nations schools in Gaza, the UN's Palestinian refugee agency said Wednesday. The 17-year-old Pakistani children's rights activist wo
Published 30 Oct, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (October 29, 2014).

Published 30 Oct, 2014 12:00am
Hamdard University professor honoured

Hamdard University professor honoured

Professor Dr Abdul Rehman Memon and Advisor to the Vice Chancellor of Hamdard University has recently clinched third prize for University Research. The 2013 prize was given to Dr Memon for his University Research on the theme "Economics of Higher Educatio
Published 30 Oct, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (October 29, 2014).

Published 30 Oct, 2014 12:00am
Jirga urges Speaker not to accept PTI MNAs' resignations

Jirga urges Speaker not to accept PTI MNAs' resignations

The Opposition Jirga, while urging the Speaker of National Assembly not to accept resignations of Pakistan Tehreek-e-Insaf (PTI) Members of National Assembly (MNAs), has warned the government it will pave the way for mid-term elections and could further i
Published 30 Oct, 2014 12:00am
Ashura holidays

Ashura holidays

Ministry of Interior on Wednesday announced that November 3 and 4 (Monday and Tuesday) will be observed as national holidays in the country on the occasion of 9th and 10th Muharram (Ashura). A notification to this effect was issued in pursuance of a Centr
Published 30 Oct, 2014 12:00am
World Bank sees lower 2015 China growth goal as appropriate

World Bank sees lower 2015 China growth goal as appropriate

An economic growth target of about seven percent, down from 7.5 percent this year, would be appropriate for China in 2015, the World Bank said Wednesday as expansion slows in the world's second-largest economy. China enjoyed decades of decades of double-d
Published 30 Oct, 2014 12:00am
NHA accounts: AGP raises 45 major audit objections

NHA accounts: AGP raises 45 major audit objections

The Auditor General of Pakistan (AGP) has raised 45 major audit objections with regard to National Highway Authority's accounts of which 32 audit observations related to internal control weaknesses, 9 regarding irregularities and non-compliance whereas fo
Published 30 Oct, 2014 12:00am
World Bank sees lower 2015 China growth goal as appropriate

World Bank sees lower 2015 China growth goal as appropriate

An economic growth target of about seven percent, down from 7.5 percent this year, would be appropriate for China in 2015, the World Bank said Wednesday as expansion slows in the world's second-largest economy. China enjoyed decades of decades of double-d
Published 30 Oct, 2014 12:00am
NHA accounts: AGP raises 45 major audit objections

NHA accounts: AGP raises 45 major audit objections

The Auditor General of Pakistan (AGP) has raised 45 major audit objections with regard to National Highway Authority''s accounts of which 32 audit observations related to internal control weaknesses, 9 regarding irregularities and non-compliance whereas f
Published 30 Oct, 2014 12:00am
HP tries something new with 3D scanning computer

HP tries something new with 3D scanning computer

Hewlett-Packard Co has taken a modest step toward re-imagining the venerable personal computer, merging a 3D scanner and projector with an all-in-one PC to create a $1,899 ensemble it hopes can rekindle industry interest. The new desktop computer, called
Published 30 Oct, 2014 12:00am
LNG import to attract five percent GST

LNG import to attract five percent GST

The Economic Co-ordination Committee (ECC) of the Cabinet has decided to impose a 5 percent GST on LNG import and exempt it from Gas Infrastructure Development Cess (GIDC). The ECC meeting chaired by Finance Minister Ishaq Dar on Wednesday considered the
Published 30 Oct, 2014 12:00am
Ukraine, Russia tackle gas crisis as tensions spike

Ukraine, Russia tackle gas crisis as tensions spike

Ukraine and Russia went into another round of EU-brokered gas talks in Brussels Wednesday aimed at ending a months-long supply cut that threatens to hit parts of Europe this winter. The negotiations come a day after Russia further stirred tensions with it
Published 30 Oct, 2014 12:00am
LNG import to attract five percent GST

LNG import to attract five percent GST

The Economic Co-ordination Committee (ECC) of the Cabinet has decided to impose a 5 percent GST on LNG import and exempt it from Gas Infrastructure Development Cess (GIDC). The ECC meeting chaired by Finance Minister Ishaq Dar on Wednesday considered the
Published 30 Oct, 2014 12:00am
US regulator drops BP, Statoil oil price-fixing probe

US regulator drops BP, Statoil oil price-fixing probe

Oil majors BP and Statoil said the US Federal Trade Commission (FTC) was closing a probe into anticompetitive practices in oil price reporting, while a European Union investigation continued. European officials in May 2013 raided the offices of oil majors
Published 30 Oct, 2014 12:00am
LNG import to attract five percent GST

LNG import to attract five percent GST

The Economic Co-ordination Committee (ECC) of the Cabinet has decided to impose a 5 percent GST on LNG import and exempt it from Gas Infrastructure Development Cess (GIDC). The ECC meeting chaired by Finance Minister Ishaq Dar on Wednesday considered the
Published 30 Oct, 2014 12:00am
US loan applications to buy homes lowest since February

US loan applications to buy homes lowest since February

US mortgage applications to buy homes fell to their lowest level last week since February as interest rates on 30-year home loans edged up from the previous week's 16-month trough, an industry group said on Wednesday. The Mortgage Bankers Association said
Published 30 Oct, 2014 12:00am
LNG import to attract five percent GST

LNG import to attract five percent GST

The Economic Co-ordination Committee (ECC) of the Cabinet has decided to impose a 5 percent GST on LNG import and exempt it from Gas Infrastructure Development Cess (GIDC). The ECC meeting chaired by Finance Minister Ishaq Dar on Wednesday considered the
Published 30 Oct, 2014 12:00am
Sanofi sacks CEO

Sanofi sacks CEO

Sanofi's board ousted its chief executive of six years on Wednesday, criticising him for an authoritarian management style that was often popular with investors as he lifted the French drugmaker onto the global stage. Shares in France's second-biggest lis
Published 30 Oct, 2014 12:00am
ECC may approve Textile Policy today

ECC may approve Textile Policy today

The Economic Co-ordination Committee (ECC) of the Cabinet is expected to approve five-year Textile Policy (2014-19) today (Thursday) envisaging textile exports at $26 billion, besides creating three million jobs, official sources revealed. According to so
Published 30 Oct, 2014 12:00am
Sanofi sacks CEO

Sanofi sacks CEO

Sanofi's board ousted its chief executive of six years on Wednesday, criticising him for an authoritarian management style that was often popular with investors as he lifted the French drugmaker onto the global stage. Shares in France's second-biggest lis
Published 30 Oct, 2014 12:00am
ECC may approve Textile Policy today

ECC may approve Textile Policy today

The Economic Co-ordination Committee (ECC) of the Cabinet is expected to approve five-year Textile Policy (2014-19) today (Thursday) envisaging textile exports at $26 billion, besides creating three million jobs, official sources revealed. According to so
Published 30 Oct, 2014 12:00am
India banks' soured loans hit 3-year high: Moody's

India banks' soured loans hit 3-year high: Moody's

Soured loans in India's banking system are at a three-year high, global credit rating agency Moody's said Wednesday, as it warned that a muted economic recovery means the sector's outlook could stay bleak. Worries have been mounting about the threat to In
Published 30 Oct, 2014 12:00am
ECC may approve Textile Policy today

ECC may approve Textile Policy today

The Economic Co-ordination Committee (ECC) of the Cabinet is expected to approve five-year Textile Policy (2014-19) today (Thursday) envisaging textile exports at $26 billion, besides creating three million jobs, official sources revealed. According to so
Published 30 Oct, 2014 12:00am
Global consumer confidence improves, India most bullish

Global consumer confidence improves, India most bullish

Consumer confidence in the United States jumped in the third quarter and improved globally, although people were more optimistic about job prospects than their personal finances, a survey showed on Wednesday. India remained the most bullish consumer marke
Published 30 Oct, 2014 12:00am
Bears tighten grip

Bears tighten grip

Bears dominated the Wednesday's proceedings on the Karachi share market and the benchmark KSE-100 index lost another 112 points to close at 30,113 points compared to 30,226 points Tuesday. "A bearish activity was witnessed at KSE amid institutional profit
Published 30 Oct, 2014 12:00am
Algeria signs oil deals

Algeria signs oil deals

Three consortiums of foreign energy firms signed contracts Wednesday for gas exploration in Algeria, in the first such deals since a deadly attack on a gas plant in the Sahara last year. Algeria's hydrocarbons agency Alnaft signed two contracts with a con
Published 30 Oct, 2014 12:00am
Bears tighten grip

Bears tighten grip

Bears dominated the Wednesday's proceedings on the Karachi share market and the benchmark KSE-100 index lost another 112 points to close at 30,113 points compared to 30,226 points Tuesday. "A bearish activity was witnessed at KSE amid institutional profit
Published 30 Oct, 2014 12:00am
SEC probing private equity performance figures

SEC probing private equity performance figures

The US Securities and Exchange Commission is examining how private equity firms report a key metric of their past performance when they market new funds to investors, as the regulator boosts its scrutiny of the industry, according to people familiar with
Published 30 Oct, 2014 12:00am
Bears tighten grip

Bears tighten grip

Bears dominated the Wednesday''s proceedings on the Karachi share market and the benchmark KSE-100 index lost another 112 points to close at 30,113 points compared to 30,226 points Tuesday. "A bearish activity was witnessed at KSE amid institutional profi
Published 30 Oct, 2014 12:00am
Singapore, New Zealand, Hong Kong best for business

Singapore, New Zealand, Hong Kong best for business

Small and well-run Singapore, New Zealand and Hong Kong are the world's easiest places to run a business, while global giants China, Brazil and India remain far down the list, according the World Bank. Three small but hot Pacific economies led the Bank's
Published 30 Oct, 2014 12:00am
BRIndex30 sheds 119.15 points

BRIndex30 sheds 119.15 points

On Wednesday, BRIndex30 opened at 16,242.98 points. It touched an intraday high of 16,387.04 points and an intraday low of 16,107.01 points and closed at 16,123.83 points which was -119.15 points or -0.73 percent lower than previous close. Total volume wa
Published 30 Oct, 2014 12:00am
Lending revenue helps BBVA profit but turnaround disappoints

Lending revenue helps BBVA profit but turnaround disappoints

Spain's BBVA said on Wednesday net profit tripled in the third quarter from a year ago as lending revenue rose in markets such as Mexico, though the pace of an ongoing turnaround at the lender disappointed analysts and investors. The second-biggest Spanis
Published 30 Oct, 2014 12:00am
BRIndex30 sheds 119.15 points

BRIndex30 sheds 119.15 points

On Wednesday, BRIndex30 opened at 16,242.98 points. It touched an intraday high of 16,387.04 points and an intraday low of 16,107.01 points and closed at 16,123.83 points which was -119.15 points or -0.73 percent lower than previous close. Total volume wa
Published 30 Oct, 2014 12:00am
Lending revenue helps BBVA profit but turnaround disappoints

Lending revenue helps BBVA profit but turnaround disappoints

Spain's BBVA said on Wednesday net profit tripled in the third quarter from a year ago as lending revenue rose in markets such as Mexico, though the pace of an ongoing turnaround at the lender disappointed analysts and investors. The second-biggest Spanis
Published 30 Oct, 2014 12:00am
51 countries sign OECD pact to tackle tax cheats

51 countries sign OECD pact to tackle tax cheats

Finance ministers and tax chiefs from 51 countries signed an agreement on Wednesday to automatically swap tax information, which Germany's finance minister said heralded the end of tax evasion via secret bank accounts. "Let's make a joint contribution to
Published 30 Oct, 2014 12:00am
China banks' bad loans surge, credit crunch could spread west

China banks' bad loans surge, credit crunch could spread west

Two of China's biggest banks reported sharply rising bad loans for the third quarter on Wednesday, and one added that a credit crunch squeezing small companies in the country's export-oriented eastern provinces may be spreading westwards. Bank of Communic
Published 30 Oct, 2014 12:00am
51 countries sign OECD pact to tackle tax cheats

51 countries sign OECD pact to tackle tax cheats

Finance ministers and tax chiefs from 51 countries signed an agreement on Wednesday to automatically swap tax information, which Germany's finance minister said heralded the end of tax evasion via secret bank accounts. "Let's make a joint contribution to
Published 30 Oct, 2014 12:00am
Kuwait emir says falling oil price hurting economy

Kuwait emir says falling oil price hurting economy

Kuwait's ruler warned Tuesday that declines in the oil price were damaging the economy of the energy-rich Gulf state, urging lawmakers to "stop squandering resources" and to diversify revenues. "We are witnessing a new cycle of low oil prices as a result
Published 30 Oct, 2014 12:00am
51 countries sign OECD pact to tackle tax cheats

51 countries sign OECD pact to tackle tax cheats

Finance ministers and tax chiefs from 51 countries signed an agreement on Wednesday to automatically swap tax information, which Germany''s finance minister said heralded the end of tax evasion via secret bank accounts. "Let''s make a joint contribution t
Published 30 Oct, 2014 12:00am
Ally Financial profit jumps on fewer expected loan losses

Ally Financial profit jumps on fewer expected loan losses

Ally Financial Inc, the second largest US auto lender, posted a third-quarter profit on Wednesday as it set aside less money to cover future car loan defaults. The bank believes its loan losses will be lower in the future because US unemployment has been
Published 30 Oct, 2014 12:00am
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