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Print - 2015-03-20
Finland must cut spending, reform economy: finance ministry

Finland must cut spending, reform economy: finance ministry

Finland's debt-to-GDP ratio will approach 70 percent by 2019 if it does not adopt new measures to improve public finances, the finance ministry warned in a review ahead of next month's general election.
Published 20 Mar, 2015 12:00am
Japan's commercial land prices end six-year fall

Japan's commercial land prices end six-year fall

Japan's commercial land prices ended a six-year drop last year as easy money drove investment, but prices outside the biggest cities continued their two-decade slide, government data showed. Nation-wide prices were flat on average, recovering from a decli
Published 20 Mar, 2015 12:00am
Japan business mood patchy on effects of weak yen

Japan business mood patchy on effects of weak yen

Confidence at Japanese manufacturers rose for a second straight month in March but slid among service sector firms, a Reuters poll showed, reflecting the boost given to big exporters by a weak yen and the pain suffered by other firms paying more for impor
Published 20 Mar, 2015 12:00am
Brazil's new finance minister winning over boss, but under fire

Brazil's new finance minister winning over boss, but under fire

At the start of the year, few would have guessed that a "Chicago Boy" economist would win over Brazil's leftist president, Dilma Rousseff. But that's precisely what her new finance minister, Joaquim Levy, appears to be doing.
Published 20 Mar, 2015 12:00am
Brazil faces little risk from shadow banks

Brazil faces little risk from shadow banks

Brazil's shadow banks do not pose an immediate risk to the stability of the country's banking system, which has an adequate capital cushion to cope with unexpected shocks, a central bank report released on Thursday showed.
Published 20 Mar, 2015 12:00am
Putin downbeat on Russia economy, data shows slump gaining pace

Putin downbeat on Russia economy, data shows slump gaining pace

Russian President Vladimir Putin said on Thursday it was still too soon to feel confident about the country's economy, in comments backed up by a raft of fresh data showing a slump in retail sales and wages and rising unemployment.
Published 20 Mar, 2015 12:00am
US jobless claims up slightly; weather hurts factory activity

US jobless claims up slightly; weather hurts factory activity

The number of Americans filing new claims for unemployment benefits rose marginally last week, indicating the labour market remained on solid footing despite slowing economic growth. Other data on Thursday showed manufacturing activity in the mid-Atlantic
Published 20 Mar, 2015 12:00am
EU to tell Greece time, patience running out

EU to tell Greece time, patience running out

Eurozone leaders will tell Greece on Thursday that time and patience are running out for its leftist-led government to implement agreed reforms to avert a looming cash crunch that could force it out of the single currency. Greece has been kept from bankru
Published 20 Mar, 2015 12:00am
Irish debt at negative yields for first time ever

Irish debt at negative yields for first time ever

Eurozone member Ireland on Thursday auctioned short-term public debt at a negative yield for the first time as the European Central Bank's stimulus programme drives down borrowing costs across Europe. The National Treasury Management Agency sold 500 milli
Published 20 Mar, 2015 12:00am
Irish debt at negative yields for first time ever

Irish debt at negative yields for first time ever

Eurozone member Ireland on Thursday auctioned short-term public debt at a negative yield for the first time as the European Central Bank's stimulus programme drives down borrowing costs across Europe. The National Treasury Management Agency sold 500 milli
Published 20 Mar, 2015 12:00am
American Express, Schwab sign co-branded card deal

American Express, Schwab sign co-branded card deal

American Express Co, which recently gave up a co-branded card venture with retailer Costco, said on Thursday that it has made a new deal with brokerage Charles Schwab Corp to issue cards under both of their names.
Published 20 Mar, 2015 12:00am
China aims to tap unused fiscal funds to support growth

China aims to tap unused fiscal funds to support growth

China will look into on how local governments can mobilise their unused fiscal funds, the Ministry of Finance said on Thursday, in the latest bid to support the slowing economy. China's cabinet has called on debt-laden local governments to "revitalise" th
Published 20 Mar, 2015 12:00am
OPEC has no choice but to keep output unchanged: Kuwait

OPEC has no choice but to keep output unchanged: Kuwait

OPEC has no choice but to keep its market share and shun oil output cuts, Kuwait's oil minister said on Thursday, reiterating the view from the emirate that the group will hold its course when it meets next in June.
Published 20 Mar, 2015 12:00am
Sudan to lift oil output with new wells: minister

Sudan to lift oil output with new wells: minister

Sudan hopes to boost oil production by carrying out exploration and drilling wells in new areas including conflict-hit Darfur, its oil minister said on Thursday. "Our plan for this year is to raise production to 140,000 barrels per day" (bpd) up from 120,
Published 20 Mar, 2015 12:00am
US-Mexico sugar pact gets US trade commission okay

US-Mexico sugar pact gets US trade commission okay

US regulators on Thursday approved a controversial trade deal with Mexico that imposes a quota on sugar imports and sets minimum prices, rejecting challenges from domestic cane refiners and bringing a year-long trade battle closer to resolution. The decis
Published 20 Mar, 2015 12:00am
China Telecom's full-year profit misses, VAT hurts

China Telecom's full-year profit misses, VAT hurts

China Telecom Corp Ltd reported a lower-than-expected profit of 17.68 billion yuan ($2.83 billion) in 2014, roughly unchanged from a year earlier, as the smallest of the country's three carriers struggled with the effects of a new value-added tax (VAT) im
Published 20 Mar, 2015 12:00am
Canada's wholesale trade sees biggest drop in six years

Canada's wholesale trade sees biggest drop in six years

The value of Canadian wholesale sales tumbled far more than expected in January, racking up the biggest decline in six years on a sharp drop in the motor vehicle and parts industry, Statistics Canada said on Wednesday.
Published 20 Mar, 2015 12:00am
Britain to create world's biggest protected marine reserve

Britain to create world's biggest protected marine reserve

Britain on Wednesday said it intended to create what will be the world's biggest fully-protected marine reserve, covering an area nearly the size of France and Germany put together in the Pacific Ocean. The reserve will be based around the remote Pitcairn
Published 20 Mar, 2015 12:00am
Industrialists urge government to help resolve issues on priority basis

Industrialists urge government to help resolve issues on priority basis

Voicing deep concern over persisting water shortage, frequent power failure and low gas pressure in industrial areas, the newly-formed Karachi Industrial Forum (KIF), on Thursday, urged the prime minister and Sindh chief minister to direct the concerned d
Published 20 Mar, 2015 12:00am
APCNGA, KTI reject proposed hike in CNG tariff

APCNGA, KTI reject proposed hike in CNG tariff

All Pakistan CNG Association (APCNGA) and Karachi Transport Ittehad (KTI) on Thursday rejected the proposed hike in gas tariff for CNG sector. The two transport bodies also warned the government of staging sit-in in front of Sui Southern Gas Company's (SS
Published 20 Mar, 2015 12:00am
Three children killed as school van overturns

Three children killed as school van overturns

At least three persons were killed and 20 others sustained injuries when a school van toppled while trying to save a motorcyclist here on Thursday. According to police sources, the school van was carrying students from different villages to their schools
Published 20 Mar, 2015 12:00am
Alleged killer of Parveen Rehman arrested from Mansehra

Alleged killer of Parveen Rehman arrested from Mansehra

The prime suspect in the murder of Orangi Pilot Project Director Parveen Rehman was arrested on Thursday during a joint operation conducted by Karachi and Mansehra police in Mansehra. The alleged suspect Ahmed Khan alias Pappu Kashmiri was arrested in Man
Published 20 Mar, 2015 12:00am
FC arrests key militant in Balochistan

FC arrests key militant in Balochistan

The Frontier Corps (FC) on Thursday arrested a key terrorist and seized automatic weapons from his possession. The FC has arrested as many as 14 militants in two days. According to the FC spokesperson, the arrested key terrorist was involved in several at
Published 20 Mar, 2015 12:00am
Businesspeople asked to explore Tajik market

Businesspeople asked to explore Tajik market

Ambassador of Tajikistan, Sherali S Janonov, has said that Tajik President is expected to visit Pakistan later this year. He said that Pakistani businessmen should exploit Tajik market, as there still existed a great trade opportunities despite capture of
Published 20 Mar, 2015 12:00am
February CA balance posts $877 million surplus

February CA balance posts $877 million surplus

The country's current account balance posted a $877 million surplus in February 2015 supported by higher services exports and rising foreign inflows. Economists said the surplus CA balance would help build the country's foreign exchange reserves, which pr
Published 20 Mar, 2015 12:00am
General Sharif and General Carter discuss regional security

General Sharif and General Carter discuss regional security

General Sir Nicholas Carter, Chief of General Staff, United Kingdom called on Chief of Army Staff (COAS) General Raheel Sharif on Thursday. During the meeting, matters of mutual interest including regional security situation and measures to further enhanc
Published 20 Mar, 2015 12:00am
Nadeem Hussain gets 'Thought Leader Award'

Nadeem Hussain gets 'Thought Leader Award'

Founder, President & CEO Tameer Microfinance Bank, Nadeem Hussain was awarded the "Thought Leader Award" in the 8th Mobile Commerce conference 2015 held in Karachi recently. The award recognized the efforts of Nadeem Hussain with regards to the developmen
Published 20 Mar, 2015 12:00am
HEC, Microsoft launch National Event Management System

HEC, Microsoft launch National Event Management System

The Higher Education Commission (HEC) and Microsoft have collaborated to create an online portal "National Event Management System (NEMS)", developed by Xelleration Pakistan for academic activities of higher education institutions.
Published 20 Mar, 2015 12:00am
'Truecaller' to identify spam calls

'Truecaller' to identify spam calls

Truecaller, a leading search technology company that is transforming the phonebook to make it more intelligent and useful, is stepping up its consumer focus in Pakistan. Aligned with the rapid adoption of smartphones in emerging markets, Pakistan is also
Published 20 Mar, 2015 12:00am
Punjab achieves all agriculture production targets: minister

Punjab achieves all agriculture production targets: minister

Punjab Agriculture Minister Dr Farrukh Javed has said the provincial government has achieved all its agricultural production targets this year. He said there is dire need to adjust agricultural practices with the rapidly changing global climate.
Published 20 Mar, 2015 12:00am
Mobilink Foundation conducts clean-up activity at Margalla Hills

Mobilink Foundation conducts clean-up activity at Margalla Hills

Mobilink Foundation carried out a clean-up activity on Trail-3 of the Margalla Hills in Islamabad. The activity involved more than 60 Mobilink Torchbearers (employee volunteers), hiking up the hills, while cleaning the trail of the left over garbage and w
Published 20 Mar, 2015 12:00am
NTDCL signs energy purchase agreement with 3 wind power producers

NTDCL signs energy purchase agreement with 3 wind power producers

National Transmission and Despatch Company Limited (NTDCL) has signed Direct Agreement to the Energy Purchase Agreements with three wind power producers and their lenders having total capacity of 129.5 MW power, during a ceremony held at WAPDA house on Th
Published 20 Mar, 2015 12:00am
MQM leaders' names being placed on ECL?

MQM leaders' names being placed on ECL?

Federal government has decided to place the names of eight Muttahida Qaumi Movement (MQM's) leaders in Exit Control List (ECL) after revelations made by death row convict Saulat Mirza. According to sources, the decision came after death row convict Saulat
Published 20 Mar, 2015 12:00am
LCCI urges SBP to reduce discount rate

LCCI urges SBP to reduce discount rate

The Lahore Chamber of Commerce and Industry (LCCI) on Thursday urged the State Bank of Pakistan to pave way for new investments in the industrial sector by reducing the discount rate in the upcoming monetary policy.
Published 20 Mar, 2015 12:00am
ANP leader urges government not to hasten Saulat's execution

ANP leader urges government not to hasten Saulat's execution

Awami National Party (ANP) leader Shahi Syed on Thursday urged the government not to hasten the execution of death row inmate Saulat Mirza, stressing that the "masterminds behind such criminals" also need to be brought to justice.
Published 20 Mar, 2015 12:00am
LUMHS marks World Oral Health Day

LUMHS marks World Oral Health Day

To mark the "World Oral Health Day" the Institute of Dentistry, LUMHS Jamshoro arranged a "Public Awareness Walk" at Liaquat University of Medical & Health Sciences Jamshoro.
Published 20 Mar, 2015 12:00am
SBP hosts 21st Saarcfinance Coordinators' meeting

SBP hosts 21st Saarcfinance Coordinators' meeting

The 21st SAARCFINANCE Coordinators' meeting was held on Thursday at National Institute of Banking and Finance (NIBAF) Islamabad. SAARCFINANCE Coordinators and Alternate SAARCFINANCE Coordinators from SAARC Central Banks (except Maldives) participated in t
Published 20 Mar, 2015 12:00am
Bank Alfalah, USAID to provide SMEs access to credit

Bank Alfalah, USAID to provide SMEs access to credit

Under the "US Pakistan Partnership for Access to Credit" initiative, Bank Alfalah has recently partnered with The United States Agency for International Development (USAID) to provide financial services to Small and Medium Enterprises (SME) across Pakista
Published 20 Mar, 2015 12:00am
World Oral Health Day: importance of good oral health highlighted

World Oral Health Day: importance of good oral health highlighted

Terming `Dental Pain Management' a key area for most dentists and physicians, Pakistan Dental Association's (PDA) president Dr Navid Rashid said that good oral health reduces the burden of dental pain. He was speaking at a scientific symposium held here u
Published 20 Mar, 2015 12:00am
IDPs' repatriation to be completed by September 2016: Baloch

IDPs' repatriation to be completed by September 2016: Baloch

Minister for States and Frontier Regions Lieutenant General Abdul Qadir Baloch (retd) has said that repatriating process of Internally Displaced Persons (IDPs) to their areas would be completed till September 2016. While winding up debate on the issue of
Published 20 Mar, 2015 12:00am
MOL eyeing acquisitions in Pakistan, North Sea, Russia

MOL eyeing acquisitions in Pakistan, North Sea, Russia

Hungarian oil and gas group MOL has about 4 billion euros to spend on acquisitions and is looking at possible targets in the North Sea, Russia and also in Pakistan, MOL's upstream chief told Reuters on Thursday.
Published 20 Mar, 2015 12:00am
Karachi's peace, stability in interest of all: Prime Minister

Karachi's peace, stability in interest of all: Prime Minister

Prime Minister Nawaz Sharif on Thursday said there was no space for terrorism in the country and the criminals convicted in heinous crimes would be brought to justice. Talking to MNAs of Pakistan Muslim League from Faisalabad Division here at the PM House
Published 20 Mar, 2015 12:00am
Foreign liquor worth Rs 70 million seized

Foreign liquor worth Rs 70 million seized

Pakistan Maritime Security Agency (PMSA) and Customs Intelligence in a joint operation in open sea by huge quantity of foreign origin smuggled whisky and beer was seized. The contraband was being brought through sea route to Karachi and the attempt was fo
Published 20 Mar, 2015 12:00am
Sohail Aman takes over command as PAF chief

Sohail Aman takes over command as PAF chief

New Chief of Air Staff (CAS), Air Chief Marshal Sohail Aman took over command of Pakistan Air Force at a ceremony held here at the Air Headquarters on Thursday. Outgoing Air Chief Marshal Tahir Rafique Butt formally handed over the PAF's Sword of Command
Published 20 Mar, 2015 12:00am
Gulf markets rebound as dovish Fed lifts oil

Gulf markets rebound as dovish Fed lifts oil

Gulf stock markets rebounded on Thursday after a dovish statement from the US Federal Reserve lifted oil prices and sparked a rally in global equities, but food maker Savola Group weighed on Saudi Arabia after a profit warning. Oil prices jumped on Wednes
Published 20 Mar, 2015 12:00am
Sri Lankan shares steady

Sri Lankan shares steady

Sri Lankan shares ended steady on Thursday, near six-week lows hit on Wednesday, in dull trade as investors awaited cues on interest rates, stockbrokers said, a day after t-bill yields fell indicating a reversal in rising trend in interest rates. The main
Published 20 Mar, 2015 12:00am
Thursday's midday trade Fed rally reverses

Thursday's midday trade Fed rally reverses

US stocks fell on Thursday as a stronger dollar weighed on oil and other commodity prices, with energy and materials sectors shares leading the market lower. The greenback rose after a sharp decline on Wednesday, reversing the trades that took markets hig
Published 20 Mar, 2015 12:00am
Wall Street surges as Fed relieves rate worries

Wall Street surges as Fed relieves rate worries

US stocks rallied on Wednesday after the Federal Reserve suggested a less aggressive timeline for raising interest rates even as it opened the door for the first hike in almost a decade. The Fed dropped its pledge to be "patient" in deciding when to begin
Published 20 Mar, 2015 12:00am
Nikkei backs off 15-year high

Nikkei backs off 15-year high

Japan's Nikkei benchmark dropped from 15-year highs on Thursday as investors took profits on recent gainers such as banking shares, which could suffer from a fall in Japanese bond yields. The yield on the benchmark 10-year Japanese government bond skidded
Published 20 Mar, 2015 12:00am
Short-dated yields post biggest fall since 2009

Short-dated yields post biggest fall since 2009

US Treasuries yields sank on Wednesday, with short-dated note yields posting their biggest daily declines in six years, after investors interpreted the latest Federal Reserve statement and comments from Fed Chair Janet Yellen as dovish.
Published 20 Mar, 2015 12:00am
Short-dated yields post biggest fall since 2009

Short-dated yields post biggest fall since 2009

US Treasuries yields sank on Wednesday, with short-dated note yields posting their biggest daily declines in six years, after investors interpreted the latest Federal Reserve statement and comments from Fed Chair Janet Yellen as dovish.
Published 20 Mar, 2015 12:00am
Hong Kong shares gain

Hong Kong shares gain

Hong Kong shares joined nearly all regional markets in rising on Thursday after the Federal Reserve indicated it won't start raising US interest rates for some time. The Hang Seng index gained 1.5 percent to 24,468.89, while the China Enterprises Index cl
Published 20 Mar, 2015 12:00am
South African stocks rise

South African stocks rise

South African stocks rose on Thursday with mining firm Assore jumping almost 30 percent after an upgrade by Barclays, in its biggest daily percentage jump in 16 years. The iron and manganese ore producer surged 29.6 percent to 138 rand, recovering from a
Published 20 Mar, 2015 12:00am
China's stocks pause after six-day rally

China's stocks pause after six-day rally

Chinese stocks took a break from a six-day rally on Thursday, when most Asian stock markets had solid gains after the Federal Reserve indicated it won't start raising US interest rates for some time. The China market, which is largely insulated from globa
Published 20 Mar, 2015 12:00am
Indian shares end lower

Indian shares end lower

Indian shares fell on Thursday for a second consecutive session, retreating from earlier gains of as much as 1.2 percent as investors felt domestic markets already sufficiently reflect expectations for a later start in US rate rises. Most global markets r
Published 20 Mar, 2015 12:00am
Italian boost sends European shares to 15-year high

Italian boost sends European shares to 15-year high

A broad index of European shares hit its highest level in 15 years on Thursday, led by Italian stocks thanks to sharp gains in tyre maker Pirelli and utility Enel. Shares in Enel rose 1.9 percent after it said it aims to raise profits and dividends over t
Published 20 Mar, 2015 12:00am
Australian shares climb

Australian shares climb

Australian shares rose the most in five weeks on Thursday after the Federal Reserve suggested it may raise US rates later than previously thought while energy stocks followed the surging oil price higher. The Fed downgraded its economic growth and inflati
Published 20 Mar, 2015 12:00am
Major SE Asian markets up

Major SE Asian markets up

Major Southeast Asian stock markets rose on Thursday as risk appetite returned to laggard emerging stock markets following the US Federal Reserve's dovish comments on interest rates and economic recovery. Singapore's Straits Times Index gained 0.7 percent
Published 20 Mar, 2015 12:00am
FTSE touches record high as central banks stay dovish

FTSE touches record high as central banks stay dovish

Britain's benchmark share index reached record highs on Thursday, with gold miners outperforming, after the US Federal Reserve and Bank of England both dampened prospects of interest rate rises in the near term. The FTSE 100 index rose as much as 0.5 perc
Published 20 Mar, 2015 12:00am
Full-fledged security for minorities' worship places demanded

Full-fledged security for minorities' worship places demanded

Participants at a consultative meeting with Civil Society on 'Minorities' condemned the Yuhana Abad incident and demanded provision of full-fledged protection to worship places of non-Muslims across the country.
Published 20 Mar, 2015 12:00am
President postpones execution of Saulat Mirza for 72 hours

President postpones execution of Saulat Mirza for 72 hours

President Mamnoon Hussain on Thursday said that the execution of Saulat Mirza, a death-row prisoner, has been postponed for 72 hours. Talking to reporters at Presidency after addressing a function in connection with preparation of Pakistan Day celebration
Published 20 Mar, 2015 12:00am
Proceedings of special court: federation granted more time to file reply

Proceedings of special court: federation granted more time to file reply

The Islamabad High Court (IHC) granted more time to Federation to file a reply in response to pleas against proceedings of Special Court trying former army chief and President Pervez Musharraf under Article 6 of the Constitution due to personal engagement
Published 20 Mar, 2015 12:00am
Saulat Mirza shifted to prison barrack

Saulat Mirza shifted to prison barrack

The convict Saulat Mirza has been shifted from the death cell to the prison barrack again after the postponement of his execution. The law-enforcement agencies have been allowed to meet him in the Machh Jail.
Published 20 Mar, 2015 12:00am
Pakistan's foreign exchange reserves fall by $10 million

Pakistan's foreign exchange reserves fall by $10 million

The country's total liquid foreign exchange reserves posted a decline of $10 million during the last week. According to State Bank of Pakistan's weekly forex report issued on Thursday, Pakistan's total foreign exchange reserves stood at $16.274 billion as
Published 20 Mar, 2015 12:00am
Minister seeks private sector's support to enhance literacy rate

Minister seeks private sector's support to enhance literacy rate

State Minister Engineer Baligh-ur-Rehman has sought support of private sector in increasing literacy rate and promoting vocational education in the country. He was speaking at ameeting with members of Federation of Pakistan Chambers of Commerce & Industry
Published 20 Mar, 2015 12:00am
Budget 2015-16: OICCI suggests reduction in SIM card taxes

Budget 2015-16: OICCI suggests reduction in SIM card taxes

The Federal Board of Revenue (FBR) has received a budget proposal of the Overseas Investors Chamber of Commerce & Industry (OICCI) regarding reduction in activation tax on mobile phones from Rs 250 to Rs 150 and withdraw sales tax on SIM card issuance and
Published 20 Mar, 2015 12:00am
KU bombers sentenced to 14 years imprisonment

KU bombers sentenced to 14 years imprisonment

An anti-terrorism court in Karachi sentenced two men accused of involvement in a 2010 bomb attack at Karachi University to 14 years imprisonment. The ATC, which conducted the trial in Karachi's Central Jail, had earlier reserved its verdict over the case.
Published 20 Mar, 2015 12:00am
Traders appreciate action against criminals

Traders appreciate action against criminals

Trade and business activities in the city have slowed down due to fear of a strong reaction to the intensified operation against criminals. "Sales have been hit soon after the arrest of key target killers during the ongoing operation," traders said on Thu
Published 20 Mar, 2015 12:00am
Bonus shares deposit: details of FBR account with CDC unveiled

Bonus shares deposit: details of FBR account with CDC unveiled

The Federal Board of Revenue (FBR) has provided taxpayers the relevant account number for depositing the bonus shares, in case shareholders have failed to pay tax equal to five percent of the value of bonus shares to the company quoted on stock exchange,
Published 20 Mar, 2015 12:00am
Bonus shares deposit: details of FBR account with CDC unveiled

Bonus shares deposit: details of FBR account with CDC unveiled

The Federal Board of Revenue (FBR) has provided taxpayers the relevant account number for depositing the bonus shares, in case shareholders have failed to pay tax equal to five percent of the value of bonus shares to the company quoted on stock exchange,
Published 20 Mar, 2015 12:00am
HCCI seeks action against land mafia

HCCI seeks action against land mafia

Hyderabad Chamber of Commerce and Industry (HCCI) has expressed serious concerns over the alleged rising activities of land mafia in Hyderabad. President HCCI, Goharullah in a statement released here on Thursday said land mafia has resumed its activities
Published 20 Mar, 2015 12:00am
Opera mini browser partners with Microsoft Lumia in Pakistan

Opera mini browser partners with Microsoft Lumia in Pakistan

Opera Mini browser has signed an accord with Mobilink and Telenore to provide 10 MB free internet facility to their customers in Pakistan. The free internet access is sponsored by Microsoft Lumia and available to basic Java phone users. The facility is ai
Published 20 Mar, 2015 12:00am
Rangers urge traders not to yield to extortion

Rangers urge traders not to yield to extortion

Rangers on Thursday asked business community to avoid giving extortion to militant groups, and criminal organisations, pointing that the money is used to carry out terrorist activities and targeted killings in the city.
Published 20 Mar, 2015 12:00am
MQM denounces arrest of workers

MQM denounces arrest of workers

Muttahida Qaumi Movement (MQM) Rabita Committee has condemned recent arrests of party workers and raids on their houses in Karachi. In a statement, the Rabita Committee issued details of 19 workers and office-bearers who have been arrested by police and R
Published 20 Mar, 2015 12:00am
Yuan set for record rise

Yuan set for record rise

China's yuan looks set to post its biggest-ever weekly gain as Beijing moves to head off the risk of capital flight and quash speculation. The sharp correction to the exchange rate comes as state-owned banks are aggressively selling dollars at the behest
Published 20 Mar, 2015 12:00am
Dollar steadies in Asia

Dollar steadies in Asia

The dollar steadied on Thursday, rising off lows hit overnight after the Federal Reserve struck a much more dovish than expected tone on interest rates. The Fed dropped the word "patient" from its statement in terms of raising interest rates, as expected,
Published 20 Mar, 2015 12:00am
Dollar fights back; crown soars in Europe

Dollar fights back; crown soars in Europe

The dollar fought back across the board on Thursday after posting its biggest daily fall in 18 months in the wake of a much more cautious Federal Reserve statement on interest rates than expected. The Norwegian crown gained as much as 3 percent against th
Published 20 Mar, 2015 12:00am
Early trade in New York: dollar rebounds broadly

Early trade in New York: dollar rebounds broadly

The dollar rebounded broadly on Thursday after posting steep losses the previous session following a much more cautious Federal Reserve statement on interest rates than expected, as investors remained bullish on the greenback. The dollar suffered its bigg
Published 20 Mar, 2015 12:00am
Dollar falls across the board in New York

Dollar falls across the board in New York

The dollar plunged across the board on Wednesday after the Federal Reserve signalled an interest rate increase as early as June but slashed interest-rate projections over the next few years and downgraded its outlook for the US economy.
Published 20 Mar, 2015 12:00am
Dovish Fed lifts Asia FX

Dovish Fed lifts Asia FX

Most emerging Asian currencies jumped on Thursday with China's yuan hitting a two-month high, as the US Federal Reserve was seen in no rush to raise interest rates. The yuan jumped an unusually large 0.6 percent as traders said recent moves by China's cen
Published 20 Mar, 2015 12:00am
Sri Lanka rupee ends steady

Sri Lanka rupee ends steady

The Sri Lankan rupee ended steady on Thursday for the second straight session as banks' dollar sales offset importer dollar demand, while concerns over a government probe into bond sales hurt sentiment, dealers said. Actively-traded two-week rupee forward
Published 20 Mar, 2015 12:00am
Sterling plummets against dollar

Sterling plummets against dollar

Sterling fell sharply against the dollar on Thursday after dovish comments by a Bank of England policymaker cast doubt on investor expectations of an interest rate hike early next year. BoE Chief Economist Andy Haldane said the chances of an interest rate
Published 20 Mar, 2015 12:00am
Aussie and New Zealand $ boosted by Fed

Aussie and New Zealand $ boosted by Fed

The Australian and New Zealand dollars held hefty gains on Thursday after a dovish-sounding Federal Reserve surprised US dollar bulls, sending short-term bond yields to record lows. The Australian dollar was firm at $0.7758, having shot up 2 percent overn
Published 20 Mar, 2015 12:00am
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