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Print - 2015-01-09
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

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
Published 09 Jan, 2015 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (January 08, 2015).

Published 09 Jan, 2015 12:00am
Sarver makes new increased bid for Rangers

Sarver makes new increased bid for Rangers

The owner of the Phoenix Suns basketball side, Robert Sarver, has increased his take-over bid for Rangers Football Club to £20million ($30million, 25million euros) and offered the troubled club a £6.5m ($9.8million, 8.3million euros) emergency loan to hel
Published 09 Jan, 2015 12:00am
Shahbaz hails Punjab IT Board performance

Shahbaz hails Punjab IT Board performance

Punjab Chief Minister Shahbaz Sharif has said that information technology is of vital importance for speedy development therefore, Punjab government has adopted a solid strategy for the promotion of modern technology in the province. He said setting up of
Published 09 Jan, 2015 12:00am
Railways to reduce fares up to 5 percent

Railways to reduce fares up to 5 percent

Pakistan Railways has decided to reduce passenger trains fares up to five percent. The decision has been taken in the wake of decrease in the prices of petroleum products, so that the effects can be transferred to common man. An official posted in Railway
Published 09 Jan, 2015 12:00am
PDWP approves three welfare schemes worth Rs 6.387 billion

PDWP approves three welfare schemes worth Rs 6.387 billion

The Provincial Development Working Party (PDWP) Punjab approved three development schemes of various development sectors with an estimated cost of Rs 6.387 billion including Punjab Municipal Services Improvement Project-II (PMSIP-II) (Concept Clearance Pa
Published 09 Jan, 2015 12:00am
Bahrain's investment sought for energy sector

Bahrain's investment sought for energy sector

Prime Minister Muhammad Nawaz Sharif on Thursday said that Pakistan was looking forward to early establishment of Pakistan Energy Fund to help overcome its acute energy shortage and invited Bahrain's investors for joint ventures in energy sector. In a mee
Published 09 Jan, 2015 12:00am
Prime Minister offers Bahrain manpower export

Prime Minister offers Bahrain manpower export

Prime Minister Muhammad Nawaz Sharif on Thursday offered to provide manpower to Bahrain to meet its requirements. In a meeting with Bahrain's Labour Minister Jameel bin Mohammad Ali Humaidan here, the Prime Minister said that Bahrain was one of the most f
Published 09 Jan, 2015 12:00am
Another Pakistani beheaded in Saudi Arabia

Another Pakistani beheaded in Saudi Arabia

Saudi Arabia on Thursday beheaded a Pakistani man convicted of drug smuggling and a Saudi for murder, the interior ministry said. Their executions bring to six the number of people beheaded since the start of January in the conservative Muslim kingdom. Aw
Published 09 Jan, 2015 12:00am
'FTO Office established for speedy redressal of complaints'

'FTO Office established for speedy redressal of complaints'

Advisor to Federal Tax Ombudsman (FTO) Mohammad Younas Khan has said that the Ombudsman Office has been established for speedy redressal of the complaints regarding maladministration in tax machinery. He expressed these views while addressing Inland Reven
Published 09 Jan, 2015 12:00am
PTI and Prime Minister differences based on principles: Khattak

PTI and Prime Minister differences based on principles: Khattak

KP Chief Minister Pervez Khattak said his party differences with Prime Minister Nawaz Sharif were based on principles, saying neither they wanted confrontation nor could think of harming the democratic process. He expressed these views while talking to PM
Published 09 Jan, 2015 12:00am
Government buys 60,000 tonnes of soybeans from Brazil

Government buys 60,000 tonnes of soybeans from Brazil

Importers have bought about 60,000 tonnes of soybeans to be sourced from Brazil and are in talks about purchasing 60,000 tonnes of US soybeans, European traders said on Thursday. The Brazilian soybeans are for Mar. 15 to Apr. 15 shipment, they said. The U
Published 09 Jan, 2015 12:00am
Uzair extradition: Pakistan embassy receives foreign ministry's letter

Uzair extradition: Pakistan embassy receives foreign ministry's letter

Pak Embassy in UAE has received a letter from the Ministry of Foreign Affairs of Pakistan for extradition of Lyari gang war chief Uzair Baloch. The Pakistan Embassy will forward the letter to the UAE officials. According to the sources, Uzair will be brou
Published 09 Jan, 2015 12:00am
CloudClinik signs landmark partnership with Qatar's Ooredoo

CloudClinik signs landmark partnership with Qatar's Ooredoo

CloudClinik EMR, a Lahore based IT company has announced a new agreement with Ooredoo to develop Qatar's first cloud-based electronic medical record (EMR) and practice management system. As part of the new agreement, Ooredoo and CloudClinik will provide t
Published 09 Jan, 2015 12:00am
KP Governor lauds achievements of Haripur University

KP Governor lauds achievements of Haripur University

Khyber Pakhtunkhwa Governor Sardar Mahtab Ahmad Khan has said the institutions of higher learning bear great impact as far as socio-economic uplift of the people is concerned and we need to ensure a realistic way forward to ensuring quality learning in ou
Published 09 Jan, 2015 12:00am
ASER survey: Government focus on enrolment drive mere rhetoric

ASER survey: Government focus on enrolment drive mere rhetoric

The recent focus of the federal and provincial governments on enrolment drives under Article 25-A of the Constitution is mere rhetoric, as 21 percent of Pakistan's children aged 6-16 still remain out of school, says the Annual Status of Education Report -
Published 09 Jan, 2015 12:00am
IDPs protest against power suspension

IDPs protest against power suspension

The internally displaced persons from Tehsil Bara of Khyber Agency here on Thursday staged a protest demonstration outside the press club against the suspension of electricity supply at their makeshift Jalozai camp. The protest was headed by Pakistan Tehr
Published 09 Jan, 2015 12:00am
Interwood opens store in Rawalpindi

Interwood opens store in Rawalpindi

Interwood opened its flagship store in Rawalpindi recently. The grand opening was inaugurated by Farooq A. Malik Chairman Interwood Mobel (Pvt) Ltd, and Kamran Syed CEO Home 21. After Lahore, Karachi & Islamabad world class furniture will now be in reach
Published 09 Jan, 2015 12:00am
CoAS attends Quran Khawani for APS martyrs

CoAS attends Quran Khawani for APS martyrs

Chief of Army Staff (CoAS) General Raheel Sharif Thursday participated in a recitation of Quran ceremony for Peshawar attack martyrs. According to the Inter Services Public Relations (ISPR), the CoAS paid a visit to the Corps Headquarters Peshawar and rev
Published 09 Jan, 2015 12:00am
Achieving goals & objectives: Pildat urges PIPS to ensure transparency

Achieving goals & objectives: Pildat urges PIPS to ensure transparency

Pakistan Institute of Legislative Development and Transparency (PILDAT), while launching the first ever citizen's report on Performance of Pakistan Institute for Parliamentary Services (PIPS), recommended the PIPS to ensure greater transparency, work hard
Published 09 Jan, 2015 12:00am
LG polls in Sindh, Punjab: Supreme Court asks ECP to announce date

LG polls in Sindh, Punjab: Supreme Court asks ECP to announce date

The Supreme Court on Thursday directed Election Commission of Pakistan (ECP) to give a date for holding local government elections in Sindh and Punjab besides completing delimitation of constituencies in both provinces within a month. A three-member bench
Published 09 Jan, 2015 12:00am
CPNE, APNS criticise CCP's coercive actions

CPNE, APNS criticise CCP's coercive actions

The President of the Council of Pakistan Newspaper Editors (CPNE), Mujeebur Rehman Shami, and the President of the All Pakistan Newspapers Society (APNS), Hameed Haroon, have deplored the "coercive actions" initiated by the Competition Commission of Pakis
Published 09 Jan, 2015 12:00am
Shahid Hayat presents award to Hameed Bhutto

Shahid Hayat presents award to Hameed Bhutto

Director FIA Sindh Shahid Hayat Khan gave appreciation certificate on excellent performance and reward to Deputy Director FIA Sukkur Abdul Hameed Bhutto as he stood first and best performed Deputy Director among FIA Sindh Zone, says a press release. He ha
Published 09 Jan, 2015 12:00am
Three more infants die in Thar

Three more infants die in Thar

Three more infants died of malnutrition in Thar on Thursday, mounting the death toll to 34 for the month of January. The deceased included a two-day old daughter of Reham Ali and a three-day old daughter of Qaiser Bhail whereas eight children have been ad
Published 09 Jan, 2015 12:00am
Delay in Torkham-Jalalabad carriageway annoys Dar

Delay in Torkham-Jalalabad carriageway annoys Dar

Finance Minister Ishaq Dar has reportedly expressed annoyance over the delay in the completion of Torkham-Jalalabad carriageway, which led to significant cost escalation of the project. An official said the cost of the project has almost been doubled to R
Published 09 Jan, 2015 12:00am
Sindh to raise counter-terrorism force: Sharjeel

Sindh to raise counter-terrorism force: Sharjeel

Sindh Minister for Information and Local Bodies Sharjeel Inam Memon said on Thursday that implementation of decisions on death sentences would start from January 13. Talking to media persons, he said that the mechanism for the implementation plan was revi
Published 09 Jan, 2015 12:00am
Polio vaccination: two held for attacking team in Muzaffargarh

Polio vaccination: two held for attacking team in Muzaffargarh

The police arrested two persons stated to be real brothers for attacking polio vaccination team here on Thursday. The incident took place in village Rampur of Tehsil Jatoi in Muzaffargarh where two accused attacked a polio immunisation team after they ins
Published 09 Jan, 2015 12:00am
KP Governor reviews efforts for polio eradication

KP Governor reviews efforts for polio eradication

Khyber Pakhtunkhwa Governor Sardar Mahtab Ahmad Khan while reviewing efforts for polio eradication in a meeting with Additional Chief Secretary (ACS) FATA, Azam Khan, Secretary Health Khyber Pakhtunkhwa and Secretary Planning and Development FATA here at
Published 09 Jan, 2015 12:00am
School health programme: consultative meeting to be held on January 13

School health programme: consultative meeting to be held on January 13

Nur Centre for Research and Policy to organise a consultative meeting as part of its Research and Advocacy Study School Health Programme on January 13, at Fatima Memorial Hospital, Shadman, Lahore. As many as 30 representatives from government programme o
Published 09 Jan, 2015 12:00am
Vehari Industrial Estate: PIEDMC chief approves sale of plots

Vehari Industrial Estate: PIEDMC chief approves sale of plots

Sale of plots for industrial units at Vehari Industrial Estate was approved on Wednesday in the meeting of the board of directors of Punjab Industrial Estates Development & Management Company. The PIEDMC management has therefore started offering the indus
Published 09 Jan, 2015 12:00am
20-hour long power breakdown: PIAF for taking steps to avoid recurrence

20-hour long power breakdown: PIAF for taking steps to avoid recurrence

While expressing serious concern over full-day power shutdown, Pakistan Industrial and Traders Associations Front (PIAF) has demanded of the government to take notice of the situation and take concrete measures to avoid such worst situation in the future
Published 09 Jan, 2015 12:00am
Delegation of women entrepreneurs leaves for India

Delegation of women entrepreneurs leaves for India

A 20-member delegation of Pakistani Women Entrepreneurs on Thursday left here for India on a 15-day visit for a dialogue with their counterparts on issues including bilateral trade, non-tariff barriers and visa policy. The delegation under the leadership
Published 09 Jan, 2015 12:00am
UVAS, APF sign MoU

UVAS, APF sign MoU

The University of Veterinary and Animal Sciences Lahore and the Asia Poultry Feeds (APF) signed a memorandum of understanding (MoU) here on Thursday to provide scholarships to UVAS students. Vice-Chancellor Professor Dr Talat Naseer Pasha and Asia Poultry
Published 09 Jan, 2015 12:00am
Non-payment of bills: LESCO to replace defective metres of WASA

Non-payment of bills: LESCO to replace defective metres of WASA

District Co-ordination Officer Lahore Captain Muhammad Usman (Retd) and MPA Chaudhry Ramzan chaired a meeting in connection with non-payment of electricity bills by WASA and town administrations. The meeting was attended by WASA MD, LESCO Director Custome
Published 09 Jan, 2015 12:00am
PTI Punjab condemns Hafizabad tragic incident

PTI Punjab condemns Hafizabad tragic incident

PTI Punjab President Ejaz Chaudhary on Thursday strongly condemned Hafizabad tragic incident where a seven-year-old girl was criminally assaulted and then stoned to death. He said it is one of the saddest and shameful aspects of our society. It is really
Published 09 Jan, 2015 12:00am
Etihad Airways recognised among world's top ten safest airlines

Etihad Airways recognised among world's top ten safest airlines

Etihad Airways, the national airline of the United Arab Emirates (UAE), has been recognised as one of the top ten safest airlines in the world. The internationally-regarded website www.AirlineRatings.com selected Etihad Airways as one of the safest airlin
Published 09 Jan, 2015 12:00am
Karachi Airport attack: ATC adjourns hearing till January 15

Karachi Airport attack: ATC adjourns hearing till January 15

Anti-Terrorism Court (ATC) on Thursday adjourned the case hearing of Jinnah International Airport attack in Karachi. The court reissued arrest warrants for the accused who absconded and adjourned the case hearing till January 15 as the Police had requeste
Published 09 Jan, 2015 12:00am
Green turtle's death becomes a mystery

Green turtle's death becomes a mystery

Mystery continues to shroud over the cause of death of a large sea turtle that was found dead at the city's polluted beach last weekend. Even the fishermen and marine experts dispute the primary cause of the marine specie's death. Though the fishermen are
Published 09 Jan, 2015 12:00am
DG CAA for improving medical facilities for employees

DG CAA for improving medical facilities for employees

Director General CAA, Air Marshal Muhammad Yousaf (Retd) has said that Civil Aviation Authority employees are being provided the best medical facilities available and they are also taking steps to further improve the facilities. He also said that retired
Published 09 Jan, 2015 12:00am
SSP assures industrialists, traders of full security

SSP assures industrialists, traders of full security

SSP Hyderabad Iran Ali Baloch has said that an operation has been launched against criminals and anti-social elements in the city and a security plan has also been chalked out to ensure the protection of life, honour and property of the people including i
Published 09 Jan, 2015 12:00am
Al Qaeda man among seven killed in police encounter

Al Qaeda man among seven killed in police encounter

City police on Thursday claimed to have killed seven alleged militants during a targeted operation in Sohrab Goth and recovered weapons from their possession. Senior Superintendent of Police (SSP) Malir Rao Anwar said that police on a tip-off about the pr
Published 09 Jan, 2015 12:00am
CES 2015: Huawei Consumer BG showcases over 100 products

CES 2015: Huawei Consumer BG showcases over 100 products

Huawei Consumer Business Group (BG) on Thursday showcased more than 100 products at CES 2015 including its latest flagship smartphones, wearable devices, tablets, mobile access devices, home access devices, smart home devices, OTT and vehicle-mounted modu
Published 09 Jan, 2015 12:00am
Exporters urged to explore markets in Libya

Exporters urged to explore markets in Libya

Ambassador of Pakistan in Libya and Malta, Lieutenant General Javed Zia (retired), with a view to promoting Pakistani products and strengthening trade ties between Pakistan and Libya, has offered to set up a free display centre in Pakistan Embassy in Liby
Published 09 Jan, 2015 12:00am
Indo-Pak region Ishrat urges business to lead in creating peace

Indo-Pak region Ishrat urges business to lead in creating peace

Dr Ishrat Hussain, former Governor State Bank of Pakistan and Dean and Director IBA called upon business to take the lead in creating peace in the Indo-Pak region by learning from global changes where France and Germany, the enemies of yesterday living wi
Published 09 Jan, 2015 12:00am
US supports Pakistan's efforts against terrorism

US supports Pakistan's efforts against terrorism

The US supports efforts of Pakistan to counter terrorism and bring perpetrators to justice. Spokesperson of the US State Department, Jen Psaki said, "We support efforts to counter terrorism and bring perpetrators to justice, but we believe it's important
Published 09 Jan, 2015 12:00am
"PRI sees a remittance potential of $24 billion"

"PRI sees a remittance potential of $24 billion"

Mr Moinuddin is the head of Pakistan Remittance Initiative (PRI), which is a remittance-enhancing joint initiative of SBP, Ministry of Finance and Ministry of Overseas Pakistanis. He is also serving as divisional head in Exchange Policy Department at SBP.
Published 09 Jan, 2015 12:00am
"PRI sees a remittance potential of $24 billion"

"PRI sees a remittance potential of $24 billion"

Mr Moinuddin is the head of Pakistan Remittance Initiative (PRI), which is a remittance-enhancing joint initiative of SBP, Ministry of Finance and Ministry of Overseas Pakistanis. He is also serving as divisional head in Exchange Policy Department at SBP.
Published 09 Jan, 2015 12:00am
Law being mulled to regulate INGOs/NGOs

Law being mulled to regulate INGOs/NGOs

In consultation with the Securities and Exchange Commission of Pakistan (SECP), the government is contemplating a law to regulate INGOs/NGOs and individuals desirous of receiving and utilising foreign contribution. The proposed law came under discussion i
Published 09 Jan, 2015 12:00am
EU sees 'positive signs' from Russia over Ukraine

EU sees 'positive signs' from Russia over Ukraine

The European Union sees some "positive signs" from Russia over the crisis in Ukraine ahead of a mooted summit of key leaders in Kazakhstan, the bloc's foreign policy chief Federica Mogherini said Thursday. Mogherini insisted however that Moscow would have
Published 09 Jan, 2015 12:00am
Four dead as tourist ship sinks in Costa Rica

Four dead as tourist ship sinks in Costa Rica

A catamaran carrying 98 tourists and 10 crew members sank off Costa Rica on Thursday, leaving at least four people dead while rescuers saved dozens from the sea. Rescuers have plucked 94 people from the Pacific waters so far, fire brigade director Hector
Published 09 Jan, 2015 12:00am
Indonesian divers struggle to reach AirAsia wreckage

Indonesian divers struggle to reach AirAsia wreckage

Elite Indonesian military divers battled powerful currents on Thursday to reach the submerged tail of crashed AirAsia Flight 8501, in hopes of finding its crucial black box data recorders. The plane crashed on December 28 during stormy weather as it flew
Published 09 Jan, 2015 12:00am
Silence, bells and tears for France after massacre

Silence, bells and tears for France after massacre

Office workers stood shoulder to shoulder, buses and metro trains halted, and the toll of bells and the sound of weeping broke the silence Thursday as France honoured the 12 people massacred at Charlie Hebdo magazine. "Charlie will be free!" cried a woman
Published 09 Jan, 2015 12:00am
France to host international 'anti-terrorism' meeting

France to host international 'anti-terrorism' meeting

France's interior minister said he would host an international meeting Sunday for his counterparts from the United States and Europe to discuss the battle against terrorism in the wake of the Paris magazine massacre. "I have taken the initiative of inviti
Published 09 Jan, 2015 12:00am
IS in Libya claims execution of 2 Tunisian journalists

IS in Libya claims execution of 2 Tunisian journalists

The Libyan branch of the Islamic State jihadist group claimed Thursday to have killed two Tunisian journalists who went missing in September. In a statement released on jihadist websites showing images of Sofiene Chourabi and Nadhir Ktari, the group said
Published 09 Jan, 2015 12:00am
IS beheads Syrian imam

IS beheads Syrian imam

The Islamic State (IS) group beheaded Thursday a Syrian imam, or mosque prayer leader, for "insulting God," a monitoring group said. "The IS executed the imam of a mosque from the village of Abu Khuyut near Hasakeh city (in north-eastern Syria) at dawn Th
Published 09 Jan, 2015 12:00am
Oman reports first MERS death in nearly a year

Oman reports first MERS death in nearly a year

Oman reported Thursday its first death of a person from Middle East Respiratory Syndrome coronavirus (MERS-CoV) in nearly a year. No further details were given in the health ministry statement carried by the official ONA news agency. It is the third MERS
Published 09 Jan, 2015 12:00am
Madrid rail station evacuated over false alert

Madrid rail station evacuated over false alert

Police evacuated a busy metro and commuter railway station in Madrid on Thursday during the evening rush hour after a suspicious package was found that was later determined not to be dangerous, a police spokeswoman said. The Nuevos Ministerios station, wh
Published 09 Jan, 2015 12:00am
Hackers try to blackmail Swiss bank after stealing data

Hackers try to blackmail Swiss bank after stealing data

Swiss bank BCGE said Thursday hackers had stolen the personal data of thousands of clients as a newspaper reported it was being blackmailed. The Banque Cantonale de Geneve said the theft had affected several thousand of its estimated 240,000 clients but t
Published 09 Jan, 2015 12:00am
Modi throws open doors to people of Indian origin around the globe

Modi throws open doors to people of Indian origin around the globe

Prime Minister Narendra Modi on Thursday appealed to millions of people of Indian origin across the world to turn to their homeland after he eased visa rules to lure overseas talent, in a bid to make the country a top power. India has the world's second l
Published 09 Jan, 2015 12:00am
Canada and United States in deep Arctic freeze

Canada and United States in deep Arctic freeze

An Arctic blast sweeping Canada and parts of the United States this week closed schools, grounded jets, killed at least four people, and even shook the ground. "What the hell was that?" screamed a startled woman at a loud crack produced by a "frost quake"
Published 09 Jan, 2015 12:00am
Japan recalls baby food over cricket contamination

Japan recalls baby food over cricket contamination

A Japanese firm said Thursday it was recalling tens of thousands of pouches of baby food after an insect was discovered in one package, the latest food scare to rock consumers. Asahi Holdings said its subsidiary would be calling back an estimated 120,000
Published 09 Jan, 2015 12:00am
Canada gives ambassador post to official who killed gunman

Canada gives ambassador post to official who killed gunman

Sergeant-at-Arms Kevin Vickers, who was hailed for stopping an assailant who stormed Canada's parliament in October, will be named ambassador to Ireland, the government announced Thursday. Vickers will fill a post vacated in August by a former Conservativ
Published 09 Jan, 2015 12:00am
Credit Suisse offices searched

Credit Suisse offices searched

Credit Suisse's offices in Milan were searched by Italian tax police last month as part of an investigation into whether the bank helped wealthy Italians hide undeclared funds offshore, an Italian judicial source said. The searches follow a series of inve
Published 09 Jan, 2015 12:00am
Sharapova cruises, Ivanovic struggles in Brisbane

Sharapova cruises, Ivanovic struggles in Brisbane

Top seeds Maria Sharapova and Ana Ivanovic booked their places in the semi-finals of the Brisbane International in vastly contrasting fashion on Thursday. While world number two Sharapova cruised past Spaniard Carla Suarez Navarro 6-1, 6-3, Ivanovic was f
Published 09 Jan, 2015 12:00am
Halep, Kvitova swing into Shenzhen semi-finals

Halep, Kvitova swing into Shenzhen semi-finals

Top seed and world number three Simona Halep, along with second seed Petra Kvitova, ranked four, both breezed past lowly opponents in straight sets Thursday to reach the semi-finals of the WTA Shenzhen Open. Romanian Halep, last year's French Open runner-
Published 09 Jan, 2015 12:00am
Marks and Spencer sales lose sparkle over Christmas

Marks and Spencer sales lose sparkle over Christmas

British retailer Marks and Spencer posted Thursday sliding sales in the run-up to Christmas, as clothing was hit by unseasonably warm autumn weather in the third quarter. Total sales sank 1.6 percent in the 13 weeks to December 27, compared with the same
Published 09 Jan, 2015 12:00am
US jobless claims dip; 2014 layoffs lowest in 17 years

US jobless claims dip; 2014 layoffs lowest in 17 years

The number of Americans filing new claims for unemployment benefits fell last week and job cuts declined for a second straight month in December, adding to signs of a strengthening labour market. Initial claims for state unemployment benefits slipped by 4
Published 09 Jan, 2015 12:00am
German factory orders slump

German factory orders slump

German industrial orders, a key measure of demand for German-made goods both at home and abroad, fell unexpectedly in November, data showed on Thursday, but analysts insisted the uptrend remains intact. Industrial orders dropped by 2.4 percent in November
Published 09 Jan, 2015 12:00am
Chip sales cushion Samsung fourth quarter profit decline

Chip sales cushion Samsung fourth quarter profit decline

Samsung Electronics, the world's largest smartphone maker, flagged a lighter than expected profit decline in the fourth quarter Thursday, with memory chip sales cushioning a continued slump in mobile revenue. Operating profit for the October-December peri
Published 09 Jan, 2015 12:00am
Chip sales cushion Samsung fourth quarter profit decline

Chip sales cushion Samsung fourth quarter profit decline

Samsung Electronics, the world's largest smartphone maker, flagged a lighter than expected profit decline in the fourth quarter Thursday, with memory chip sales cushioning a continued slump in mobile revenue. Operating profit for the October-December peri
Published 09 Jan, 2015 12:00am
Turkey unveils plan for more babies

Turkey unveils plan for more babies

Turkey's Islamic-rooted government on Thursday unveiled a new reform package aimed at realising President Recep Tayyip Erdogan's ambition for married couples to have more children to counter a slowdown in population growth. The new welfare programme, anno
Published 09 Jan, 2015 12:00am
Arrested RBS forex trader named as Paul Nash

Arrested RBS forex trader named as Paul Nash

Royal Bank of Scotland currency trader Paul Nash has become the first individual arrested in connection with a global inquiry into alleged manipulation in the foreign exchange market, sources familiar with the matter said on Thursday. Nash, who was suspen
Published 09 Jan, 2015 12:00am
Juncker announces new 1.8 billion euros in Ukraine aid

Juncker announces new 1.8 billion euros in Ukraine aid

The EU plans to give Ukraine a further 1.8 billion euros to help prop up an economy hit hard by a protracted conflict with Russian-backed rebels, European Commission head Jean-Claude Juncker said Thursday. The 1.8 billion euros ($2.1 billion) in medium-te
Published 09 Jan, 2015 12:00am
Juncker announces new 1.8 billion euros in Ukraine aid

Juncker announces new 1.8 billion euros in Ukraine aid

The EU plans to give Ukraine a further 1.8 billion euros to help prop up an economy hit hard by a protracted conflict with Russian-backed rebels, European Commission head Jean-Claude Juncker said Thursday. The 1.8 billion euros ($2.1 billion) in medium-te
Published 09 Jan, 2015 12:00am
Bank of England sits tight on interest rate

Bank of England sits tight on interest rate

The Bank of England on Thursday voted to keep its main interest rate at 0.50 percent against a backdrop of sliding British inflation. The BoE, holding its first policy meeting of the year, decided also to keep the level of its quantitative easing (QE) cas
Published 09 Jan, 2015 12:00am
Kuwait awards $4.2 billion heavy oil development contract

Kuwait awards $4.2 billion heavy oil development contract

Kuwait has awarded a $4.2 billion (3.5 billion euro) to develop heavy oil fields in the north of the country, the central tenders committee announced Thursday. The project, called Lower Fars Heavy oil Development phase 1, was awarded to UAE-based Petrofac
Published 09 Jan, 2015 12:00am
Troubled Tesco unveils revival plans

Troubled Tesco unveils revival plans

British supermarket giant Tesco launched cost-cutting plans Thursday to shut stores, sell assets and axe its dividend, in a bid to revive its fortunes and recover from an accounting scandal. The nation's biggest retailer announced the news in a gloomy sta
Published 09 Jan, 2015 12:00am
Eurozone retail sales offer economic bright spot

Eurozone retail sales offer economic bright spot

Retail sales in the eurozone rose slightly in November, EU data showed on Thursday, offering a rare glimmer of good news in a currency bloc that has freshly slipped into deflation. The EU's Eurostat statistics agency said retail sales rose by 0.6 percent
Published 09 Jan, 2015 12:00am
Argentina HSBC office raided

Argentina HSBC office raided

Authorities raided the Buenos Aires offices of British bank HSBC on Wednesday investigating alleged tax evasion involving more than 4,000 influential locals' Swiss accounts, a court source said. About 100 agents took part in the raid, the source said, add
Published 09 Jan, 2015 12:00am
China pushes for bigger Latin America, Caribbean role

China pushes for bigger Latin America, Caribbean role

Chinese President Xi Jinping pledged to increase co-operation with Latin America and the Caribbean Thursday as he opened a forum in Beijing with leaders from 30 countries in the region. The China-CELAC (Community of Latin American and Caribbean States) ga
Published 09 Jan, 2015 12:00am
Irish consumer sentiment nears eight-year high

Irish consumer sentiment nears eight-year high

Irish consumer sentiment recovered strongly in December to stand just short of an eight-year high, a survey showed on Thursday. But the survey's authors warned any recovery in spending in Ireland may be muted as consumers complain improvements in the over
Published 09 Jan, 2015 12:00am
Fresh allegations against Brazil's Petrobras

Fresh allegations against Brazil's Petrobras

Brazil's state-owned oil giant Petrobras, already accused of graft, is being probed for allegedly over-charging on a gas pipeline contract and using a front company to do so, Globo newspaper reported Wednesday. Petrobras responded by denying it set up a f
Published 09 Jan, 2015 12:00am
Aid delays in graft row threaten Tanzania outlook: IMF

Aid delays in graft row threaten Tanzania outlook: IMF

Delays in aid disbursements over graft allegations in the energy sector and revenue shortfalls risk undermining Tanzania's sturdy economic growth, the IMF said on Thursday. The International Monetary Fund said Tanzanian growth was expected to be 7 percent
Published 09 Jan, 2015 12:00am
India's coal workers call off strike, averting power cuts

India's coal workers call off strike, averting power cuts

Millions of coal miners in India have called off a five-day strike on the second day after an hours-long meeting with the government, averting power cuts in the energy-hungry country. Five unions ended the strike late Wednesday after talks with the coal m
Published 09 Jan, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Wednesday at Pakistan Mercantile Exchange (PMEX) value traded was PKR 1.256 billion and the number of lots traded was 11,313. PMEX Commodity Index closed at 2,591. Major business was contributed by crude oil amounting to PKR 731 million followed by gol
Published 09 Jan, 2015 12:00am
Oil cake market rates

Oil cake market rates

Deliveries were up on the forward cottonseed oilcake market on Thursday in the process of trading, dealers said. The January contract closed at Rs 1568.00 on Wednesday, they said. It commenced with a gain of 30 paisa at Rs 1568.30, they said. The March va
Published 09 Jan, 2015 12:00am
Activity at Karachi & Qasim ports

Activity at Karachi & Qasim ports

The Karachi Port handled 127,164 tonnes of cargo comprising 104,908 tonnes of import cargo and 22,256 tonnes of export cargo including 6,591 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday. The total import cargo of
Published 09 Jan, 2015 12:00am
CBOT wheat futures fall 2 percent

CBOT wheat futures fall 2 percent

Chicago Board of Trade wheat futures fell on Tuesday on plentiful global supplies and ideas that US wheat is over-priced relative to other origins, especially given strength in the dollar, traders said. Benchmark CBOT March wheat fell more than 2 percent
Published 09 Jan, 2015 12:00am
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