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Print - 2015-08-29
GM CEO pushed for cost cuts, other moves to hit China target

GM CEO pushed for cost cuts, other moves to hit China target

When auto sales in China fell last month, General Motors Co's share price took a hit, reflecting investor fears that the automaker would abandon promises to deliver strong profit margins from its operations in the world's biggest car market. GM Chief Exec
Published 29 Aug, 2015 12:00am
PSM reduces steel products' prices by up to Rs 7000 per ton

PSM reduces steel products' prices by up to Rs 7000 per ton

Pakistan Steel Mills (PSM) on Friday announced to reduce prices of steel products by up to Rs 7,000 per metric ton aimed at rationalising with international market prices. Dealers said that declining price trend in the world market has forced the country'
Published 29 Aug, 2015 12:00am
Brazil considers reinstating tax on financial transactions

Brazil considers reinstating tax on financial transactions

The Brazilian government is considering reviving a financial transaction tax known as CPMF in a bid to shore up its finances in 2016, two sources close to President Dilma Rousseff's economic team said on Thursday. A plan to recreate the CPMF is part of th
Published 29 Aug, 2015 12:00am
PSM reduces steel products' prices by up to Rs 7000 per ton

PSM reduces steel products' prices by up to Rs 7000 per ton

Pakistan Steel Mills (PSM) on Friday announced to reduce prices of steel products by up to Rs 7,000 per metric ton aimed at rationalising with international market prices. Dealers said that declining price trend in the world market has forced the country'
Published 29 Aug, 2015 12:00am
Brazil considers reinstating tax on financial transactions

Brazil considers reinstating tax on financial transactions

The Brazilian government is considering reviving a financial transaction tax known as CPMF in a bid to shore up its finances in 2016, two sources close to President Dilma Rousseff's economic team said on Thursday. A plan to recreate the CPMF is part of th
Published 29 Aug, 2015 12:00am
Petroleum ministry in no mood to restore gas supply to PSM

Petroleum ministry in no mood to restore gas supply to PSM

Ministry of Petroleum and Natural Resources is reportedly in no mood to restore gas supply to Pakistan Steel Mills (PSM) until acceptable payment is agreed with the SSGC, well informed sources told Business Recorder. Chief Executive Officer, PSM, M
Published 29 Aug, 2015 12:00am
China home prices seen rising mildly in 2015 on easing policy

China home prices seen rising mildly in 2015 on easing policy

Chinese home prices are expected to rise modestly this year thanks to government support measures for the sector, relieving some pressure on the faltering economy, a Reuters poll showed on Wednesday. Home prices are likely to rise 2 percent in 2015 from a
Published 29 Aug, 2015 12:00am
Petroleum ministry in no mood to restore gas supply to PSM

Petroleum ministry in no mood to restore gas supply to PSM

Ministry of Petroleum and Natural Resources is reportedly in no mood to restore gas supply to Pakistan Steel Mills (PSM) until acceptable payment is agreed with the SSGC, well informed sources told Business Recorder. Chief Executive Officer, PSM, M
Published 29 Aug, 2015 12:00am
British bank Aldermore doubles profit as lending grows

British bank Aldermore doubles profit as lending grows

Aldermore Group Plc's profit more than doubled in the first half of the year, beating expectations, as the up-and-coming British bank issued more mortgages and loans to small and medium-sized businesses. The bank's shares rose as much as 11 percent on Thu
Published 29 Aug, 2015 12:00am
Petroleum ministry in no mood to restore gas supply to PSM

Petroleum ministry in no mood to restore gas supply to PSM

Ministry of Petroleum and Natural Resources is reportedly in no mood to restore gas supply to Pakistan Steel Mills (PSM) until acceptable payment is agreed with the SSGC, well informed sources told Business Recorder. Chief Executive Officer, PSM, M
Published 29 Aug, 2015 12:00am
British bank Aldermore doubles profit as lending grows

British bank Aldermore doubles profit as lending grows

Aldermore Group Plc's profit more than doubled in the first half of the year, beating expectations, as the up-and-coming British bank issued more mortgages and loans to small and medium-sized businesses. The bank's shares rose as much as 11 percent on Thu
Published 29 Aug, 2015 12:00am
Petroleum ministry in no mood to restore gas supply to PSM

Petroleum ministry in no mood to restore gas supply to PSM

Ministry of Petroleum and Natural Resources is reportedly in no mood to restore gas supply to Pakistan Steel Mills (PSM) until acceptable payment is agreed with the SSGC, well informed sources told Business Recorder. Chief Executive Officer, PSM, M
Published 29 Aug, 2015 12:00am
Mexico to unveil energy investment vehicle in September

Mexico to unveil energy investment vehicle in September

Mexico plans to launch in September a new low-tax investment vehicle aimed at tapping markets to fund energy infrastructure in Latin America's second biggest economy, four people familiar with the matter told Reuters. The new vehicle comes at a time of oi
Published 29 Aug, 2015 12:00am
Afghanistan asked to ensure safety of embassy, staff

Afghanistan asked to ensure safety of embassy, staff

Pakistan has asked Afghanistan to ensure the safety of its embassy and staff in Kabul amid growing anti-Pakistan sentiments fuelled by the recent allegations levelled by President Ashraf Ghani against Pakistan. A formal request, according to sources, has
Published 29 Aug, 2015 12:00am
As housing recovery comforts consumers, Dutch economy pedals ahead

As housing recovery comforts consumers, Dutch economy pedals ahead

After seven years of no real growth, the Netherlands is poised to outperform the euro zone's lacklustre economy, with rebounding home prices driving a consumer spending revival. But even as anecdotal evidence of a Dutch recovery grows from last year's tri
Published 29 Aug, 2015 12:00am
Afghanistan asked to ensure safety of embassy, staff

Afghanistan asked to ensure safety of embassy, staff

Pakistan has asked Afghanistan to ensure the safety of its embassy and staff in Kabul amid growing anti-Pakistan sentiments fuelled by the recent allegations levelled by President Ashraf Ghani against Pakistan. A formal request, according to sources, has
Published 29 Aug, 2015 12:00am
'Bad bank' path worn by Ireland and Spain looks steep for Greece

'Bad bank' path worn by Ireland and Spain looks steep for Greece

Greece is under growing pressure to take care of banks' problem loans so they are free to lend again, but the depth and complexity of its crisis will make it tough to replicate the comprehensive "bad bank" models set up in Ireland and Spain. Deciding how
Published 29 Aug, 2015 12:00am
'Third largest nuclear arsenal': Pakistan rejects report as baseless

'Third largest nuclear arsenal': Pakistan rejects report as baseless

Pakistan on Friday rejected the report that it has third-largest growing nuclear arsenal, terming it completely baseless. "As a nuclear state, Pakistan's policy is characterised by the utmost restraint and responsibility. We strictly abide by the concept
Published 29 Aug, 2015 12:00am
Toshiba to tap Shiseido adviser as new head of board

Toshiba to tap Shiseido adviser as new head of board

Toshiba Corp is set to pick Shiseido Co adviser Shinzo Maeda to head its new board to improve corporate governance in the wake of a massive accounting scandal, two people familiar with the plan said on Thursday. The Japanese conglomerate on August 18 prop
Published 29 Aug, 2015 12:00am
'Third largest nuclear arsenal': Pakistan rejects report as baseless

'Third largest nuclear arsenal': Pakistan rejects report as baseless

Pakistan on Friday rejected the report that it has third-largest growing nuclear arsenal, terming it completely baseless. "As a nuclear state, Pakistan's policy is characterised by the utmost restraint and responsibility. We strictly abide by the concept
Published 29 Aug, 2015 12:00am
Africa's squandered commodity boom erodes US trade promise
Cotton

Africa's squandered commodity boom erodes US trade promise

A fresh US trade pact could provide relief to African economies buffeted by the commodities slump but a failure to reform during the boom years has left many countries unable to profit from tariff-free access to the world's largest market. In an effort to
Published 29 Aug, 2015 12:00am
HC summoned to Foreign Affairs Ministry

HC summoned to Foreign Affairs Ministry

Amid escalating tensions, Pakistan Friday lodged a strong protest with India by summoning its top envoy over civilian casualties due to the repeated unprovoked firing at the Working Boundary. "Indian High Commissioner Dr T.C.A. Raghavan was summoned to th
Published 29 Aug, 2015 12:00am
Swiss Re portfolio healthy as prices stabilise: CEO

Swiss Re portfolio healthy as prices stabilise: CEO

After years of steep declines, prices in the property-casualty reinsurance market are stabilising at a level acceptable to Swiss Re, the chief executive of the world's second-biggest reinsurer said in an interview. "We are not seeing a price level that is
Published 29 Aug, 2015 12:00am
HC summoned to Foreign Affairs Ministry

HC summoned to Foreign Affairs Ministry

Amid escalating tensions, Pakistan Friday lodged a strong protest with India by summoning its top envoy over civilian casualties due to the repeated unprovoked firing at the Working Boundary. "Indian High Commissioner Dr T.C.A. Raghavan was summoned to th
Published 29 Aug, 2015 12:00am
Tiffany forecasts surprise decline in full-year profit
Currency

Tiffany forecasts surprise decline in full-year profit

Luxury jeweler Tiffany & Co forecast a surprise decline in full-year profit and reported an unexpected fall in second-quarter sales as a strong dollar discouraged tourist spending in the United States and reduced the value of overseas sales. The company's
Published 29 Aug, 2015 12:00am
Eight civilians killed, 47 injured: India has crossed all limits: CoAS

Eight civilians killed, 47 injured: India has crossed all limits: CoAS

As many as eight persons, including a woman and a child, have been martyred and 47 others, including 24 women and 11 children, were injured by unprovoked Indian shelling on the Working Boundary. According to ISPR, the Indian troops carried out shelling in
Published 29 Aug, 2015 12:00am
Tiffany forecasts surprise decline in full-year profit
Currency

Tiffany forecasts surprise decline in full-year profit

Luxury jeweler Tiffany & Co forecast a surprise decline in full-year profit and reported an unexpected fall in second-quarter sales as a strong dollar discouraged tourist spending in the United States and reduced the value of overseas sales. The company's
Published 29 Aug, 2015 12:00am
Eight civilians killed, 47 injured: India has crossed all limits: CoAS

Eight civilians killed, 47 injured: India has crossed all limits: CoAS

As many as eight persons, including a woman and a child, have been martyred and 47 others, including 24 women and 11 children, were injured by unprovoked Indian shelling on the Working Boundary. According to ISPR, the Indian troops carried out shelling in
Published 29 Aug, 2015 12:00am
British house price rises to slow in 2016

British house price rises to slow in 2016

British house prices will rise more slowly next year than in 2015, according to a Reuters poll of analysts that also found interest rates would have to reach 3 percent before seriously affecting the market. The bedrock of consumer wealth in Britain, house
Published 29 Aug, 2015 12:00am
Ten automakers sued in US over 'deadly' keyless ignitions

Ten automakers sued in US over 'deadly' keyless ignitions

Ten of the world's biggest automakers were sued on Wednesday by US consumers who claim they concealed the risks of carbon monoxide poisoning in more than 5 million vehicles equipped with keyless ignitions, leading to 13 deaths. According to the complaint
Published 29 Aug, 2015 12:00am
Tesla car gets best-ever rating from Consumer Reports

Tesla car gets best-ever rating from Consumer Reports

A new Tesla electric car has earned the best-ever vehicle rating from Consumer Reports, sending shares of the automaker racing higher Thursday. The new Tesla P85D "performed better in our tests than any other car ever has, breaking the Consumer Reports Ra
Published 29 Aug, 2015 12:00am
Norway's Statkraft eyes hydropower growth in Turkey

Norway's Statkraft eyes hydropower growth in Turkey

Norwegian energy company Statkraft, Europe's biggest producer of renewable energy, is eyeing more hydropower investments in Turkey, its chief executive said late on Tuesday. As part of Turkey's efforts to liberalise its power market, the privatisation bod
Published 29 Aug, 2015 12:00am
South Africa's Imperial Holdings seeks growth in Africa
Currency

South Africa's Imperial Holdings seeks growth in Africa

South African logistics company Imperial Holdings is accelerating its expansion into Africa as feeble demand and a weakening currency hit business at home. The company on Tuesday reported flat full-year profits, despite a loss of 558 million rand ($43 mil
Published 29 Aug, 2015 12:00am
Recession, not gas, drove drop in US emissions: study

Recession, not gas, drove drop in US emissions: study

Economic recession was the main cause for a drop in United States carbon dioxide emissions between 2007 and 2013 -- not a shift from coal- to gas-fuelled energy as widely claimed, researchers said Tuesday. US emissions of carbon dioxide, the main contribu
Published 29 Aug, 2015 12:00am
US shale girds for tough ride at $40 oil

US shale girds for tough ride at $40 oil

The drop in US oil prices below $40 a barrel has emboldened talk that lower oil prices will persist longer, leading to much more carnage in the global oil patch. US benchmark West Texas Intermediate for delivery in October dropped $2.21 to $38.24 a barrel
Published 29 Aug, 2015 12:00am
Philippine Air to purchase or lease of Boeing, Airbus planes

Philippine Air to purchase or lease of Boeing, Airbus planes

Flag carrier Philippine Airlines Inc said on Thursday it was considering whether to purchase or lease eight Boeing 787 or Airbus A350 XWB planes to allow it to fly non-stop to more destinations in the United States and Europe from Manila. The airline, own
Published 29 Aug, 2015 12:00am
Malaysia's Sime Darby Q4 profit sinks 17 percent

Malaysia's Sime Darby Q4 profit sinks 17 percent

Malaysian conglomerate Sime Darby Wednesday reported a 17 percent year-on-year fall in net profit in the fourth quarter due to a plunge in commodity prices and poor sales of vehicles and industrial equipment in key markets like China. The world's largest
Published 29 Aug, 2015 12:00am
Malaysia's Sime Darby Q4 profit sinks 17 percent

Malaysia's Sime Darby Q4 profit sinks 17 percent

Malaysian conglomerate Sime Darby Wednesday reported a 17 percent year-on-year fall in net profit in the fourth quarter due to a plunge in commodity prices and poor sales of vehicles and industrial equipment in key markets like China. The world's largest
Published 29 Aug, 2015 12:00am
Syngenta management faces pressure to appease investors

Syngenta management faces pressure to appease investors

Syngenta management faced pressure on Thursday to offer tangible rewards to shareholders after the Swiss pesticides company turned its back on a deal with unwanted American suitor Monsanto. With no alternative bidder seen on the horizon, analysts speculat
Published 29 Aug, 2015 12:00am
Growth in global stainless steel output peters out in Q1

Growth in global stainless steel output peters out in Q1

Global production of stainless steel was largely flat in the first quarter, reflecting poor demand especially in top producer China, where the pace of economic growth has slowed, industry data showed on Tuesday. Stainless steel output edged up just 0.1 pe
Published 29 Aug, 2015 12:00am
Kremlin pivot to China slowed as projects delayed
Currency

Kremlin pivot to China slowed as projects delayed

A growing economic crisis in Russia and a growth slowdown in China that has rattled world markets mean about $113 billion worth of joint projects ranging from gas pipelines to power grids have been stalled or delayed. With a major crackdown on corruption
Published 29 Aug, 2015 12:00am
Daily trading report of PMEX
Cotton

Daily trading report of PMEX

On Thursday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 6,070 million as compared to PKR 5,769 million reported on Wednesday, an increase of 5 percent. The number of lots traded was 23.06 million. PMEX Commodity Index closed at 2,465. Ma
Published 29 Aug, 2015 12:00am
Brazil's coffee stocks seen at 14.369 million bags on March 31

Brazil's coffee stocks seen at 14.369 million bags on March 31

Brazilian coffee stocks in private hands were estimated at 14.369 million 60-kg bags on March 31, down 5.6 percent from the 15.217 million bags on that day a year ago, the agriculture ministry crop supply agency Conab said on Wednesday. Futures market pri
Published 29 Aug, 2015 12:00am
US natural gas higher on warm weather forecasts

US natural gas higher on warm weather forecasts

US natural gas futures settled a notch higher on Wednesday, supported by late summer warmth that could bump up demand for air conditioning run on gas-fired electricity. Front-month gas futures on the New York Mercantile Exchange settled up 0.8 cents, or 0
Published 29 Aug, 2015 12:00am
No change on grain market

No change on grain market

According to the Daily Market Report, not a single change was seen on the local commodity market and oil seeds market on Friday.
Published 29 Aug, 2015 12:00am
China's soyabean imports slow after yuan devaluation

China's soyabean imports slow after yuan devaluation

Demand for soyabeans from top importer China has slowed in the past few weeks, with bookings for November running at only half of levels seen a year ago, due to the recent devaluation of the yuan that has made overseas purchases expensive, traders said. I
Published 29 Aug, 2015 12:00am
Ivorian farmers stock cocoa ahead of price rise

Ivorian farmers stock cocoa ahead of price rise

Cocoa farmers and merchants in Ivory Coast say they plan to stockpile much of the remainder of the 2014/2015 crop, aiming to profit from an expected rise in the official price when the new season starts in October. The harvest in the world's top cocoa pro
Published 29 Aug, 2015 12:00am
EU wheat prices fall on weaker US markets

EU wheat prices fall on weaker US markets

European wheat prices fell on Wednesday, pushed down by weaker US markets, despite an export-boosting fall of the euro against the dollar. US wheat prices were in turn pushed down by concern that interest rate cuts in China may not be enough to stimulate
Published 29 Aug, 2015 12:00am
Karachi Port's activities

Karachi Port's activities

The Karachi Port handled 198,372 tonnes of cargo comprising 171,983 tonnes of import cargo and 26,389 tonnes of export cargo including 3,348 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargo of 171
Published 29 Aug, 2015 12:00am
Cotton market: seed cotton rates firm on fresh rains
Cotton

Cotton market: seed cotton rates firm on fresh rains

Prices of seed cotton showed further gains after fresh rains in cotton belt, dealers said on the cotton market on Friday. The official spot rate recovered Rs 50 to Rs 4,500, dealers said. Seed cotton prices in Sindh were at Rs 2300 and Rs 2450 and in Punj
Published 29 Aug, 2015 12:00am
CBOT wheat futures fall for second session

CBOT wheat futures fall for second session

Wheat futures on the Chicago Board of Trade fell on Wednesday for a second straight session as strength in the dollar underscored weak export prospects for US supplies. The dollar firmed on stronger-than-expected US durable goods data. K.C. hard red winte
Published 29 Aug, 2015 12:00am
Big China banks report flat H1 net profits

Big China banks report flat H1 net profits

Two of China's biggest lenders, including the main foreign exchange dealer Bank of China, reported flat net profits for the first half of 2015, due to the weak domestic economy and growing bad loans. Bank of China (BOC) net profit rose a mere 1.14 percent
Published 29 Aug, 2015 12:00am
Big China banks report flat H1 net profits

Big China banks report flat H1 net profits

Two of China's biggest lenders, including the main foreign exchange dealer Bank of China, reported flat net profits for the first half of 2015, due to the weak domestic economy and growing bad loans. Bank of China (BOC) net profit rose a mere 1.14 percent
Published 29 Aug, 2015 12:00am
Arab Opec producers brace for oil-price weakness for rest of 2015

Arab Opec producers brace for oil-price weakness for rest of 2015

A second oil price rout of 2015 has forced Arab Opec members to cut their price expectations for this year, showing they are prepared to tolerate cheaper crude for longer to defend market share and curb rivals' output. Opec delegates, including those from
Published 29 Aug, 2015 12:00am
Japan inflation stalls and spending slides

Japan inflation stalls and spending slides

Japan's consumer inflation ground to a halt for the first time in more than two years and household spending unexpectedly fell in July, heightening pressure on policymakers to offer fresh fiscal and monetary support to underpin a fragile recovery. The glo
Published 29 Aug, 2015 12:00am
Autos lift US consumer spending; sentiment slips

Autos lift US consumer spending; sentiment slips

US consumer spending rose in July as households stepped up automobile purchases, offering further evidence of strength in the economy that keeps the door open to a Federal Reserve interest rate hike this year. While other data on Friday showed consumer se
Published 29 Aug, 2015 12:00am
Fed officials pushing for rate hike unfazed by market turmoil

Fed officials pushing for rate hike unfazed by market turmoil

Recent market turmoil should not delay the Federal Reserve from raising interest rates at least once, given that the global equities selloff and China's economic slowdown have had little effect on the US economy, a top Fed official said on Friday. St. Lou
Published 29 Aug, 2015 12:00am
Britain's economic growth accelerates in Q2

Britain's economic growth accelerates in Q2

Britain's economy gathered speed in the second three months of 2015, boosted by a jump in exports and business investment in the latest sign that the recovery is broadening out. Official figures on Friday showed gross domestic product rose by 0.7 percent
Published 29 Aug, 2015 12:00am
Eurozone sentiment edges to new four-year high

Eurozone sentiment edges to new four-year high

Confidence in the eurozone's economy edged up to a new four-year high in August as rising domestic demand marginally outweighed a worsening view of export prospects and the mood brightened particularly in France and Spain. The European Commission's monthl
Published 29 Aug, 2015 12:00am
Brazil economy sinks into recession

Brazil economy sinks into recession

Brazil's economy shrank 1.9 percent in the second quarter, sinking into a recession that has hammered the popularity of President Dilma Rousseff as she struggles to save the country's investment-grade credit rating amid a vast corruption scandal. The quar
Published 29 Aug, 2015 12:00am
China shares rise sharply on signs of fresh government support
Currency

China shares rise sharply on signs of fresh government support

China stocks jumped more than 4 percent for a second straight day on Friday as signs of fresh support from Beijing prompted more bargain hunting following the earlier plunge that panicked global markets. The mainland's blue-chip CSI300 index rose 4.3 perc
Published 29 Aug, 2015 12:00am
Indian shares post biggest weekly drop in three months

Indian shares post biggest weekly drop in three months

Indian shares rose on Friday on the back of upbeat US economic data, but posted their biggest weekly decline in nearly three months, bruised by a global selloff earlier this week. The benchmark BSE index ended 0.61 percent higher, while the broader NSE in
Published 29 Aug, 2015 12:00am
Friday's midday trade: stocks slip after Fischer's remarks

Friday's midday trade: stocks slip after Fischer's remarks

US stocks slipped on Friday after comments from an influential member of the US Federal Reserve appeared to suggest an interest rate hike next month remained a possibility. Fed Vice Chairman Stanley Fischer said the United States was heading in the direct
Published 29 Aug, 2015 12:00am
Wall Street logs biggest two-day gain since financial crisis

Wall Street logs biggest two-day gain since financial crisis

Wall Street rallied more than 2 percent on Thursday as strong US economic data and hints that a September interest-rate hike was unlikely fuelled optimism that the worst of recent market turmoil was over. The Dow Jones industrial average scored its bigges
Published 29 Aug, 2015 12:00am
Seoul shares rise

Seoul shares rise

Seoul shares rose again, producing their best week in nearly three years, after global stock market rallies boosted sentiment. The Korea Composite Stock Price Index (KOSPI), rising for a fourth straight day, ended up 1.6 percent to 1,937.67 points. The in
Published 29 Aug, 2015 12:00am
Taiwan stocks extend gains

Taiwan stocks extend gains

Taiwan stocks rose on Friday, amid widespread gains in regional markets and Wall Street. As of 02:15 GMT, the main TAIEX index rose 2.1 percent, to 7,986.89 points, after closing at 7,824.55 points in the previous session, up 1.41 percent. Concerns over a
Published 29 Aug, 2015 12:00am
US bond prices slip

US bond prices slip

Most US Treasuries prices were modestly lower on Thursday, as a rally on Wall Street and a surprisingly large upward revision on US economic growth in the second quarter revived some bets the Federal Reserve would raise rates by year-end. Lingering doubts
Published 29 Aug, 2015 12:00am
US bond prices slip

US bond prices slip

Most US Treasuries prices were modestly lower on Thursday, as a rally on Wall Street and a surprisingly large upward revision on US economic growth in the second quarter revived some bets the Federal Reserve would raise rates by year-end. Lingering doubts
Published 29 Aug, 2015 12:00am
Hong Kong shares give up gains

Hong Kong shares give up gains

Hong Kong stocks changed course Friday afternoon and lost 1 percent on Friday, as a rebound on Thursday and in morning trade prompted profit-taking. The Hang Seng index fell 1.04 percent, to 21,612.39, while the China Enterprises Index lost 1.1 percent, t
Published 29 Aug, 2015 12:00am
South African stocks higher

South African stocks higher

South African stocks ended a volatile week, punctuated by fears about China-led global economic slowdown, with their biggest weekly gain in four months. The equity market kicked off the week with hefty losses, tracking similar drops elsewhere in the world
Published 29 Aug, 2015 12:00am
Sri Lankan shares rise for third day

Sri Lankan shares rise for third day

Sri Lankan shares rose more than 1 percent on Friday, rising for a third straight session, as investors bought into select battered stocks like conglomerate John Keells Holdings Plc after recent falls. The main stock index ended 1.06 percent, or 77.38 poi
Published 29 Aug, 2015 12:00am
Nikkei extends rally

Nikkei extends rally

Japanese stocks extended a rally on Friday as investors took heart from strong US economic data and further gains on Wall Street, with strength in Chinese markets further helping to calm frayed nerves. The Nikkei share average rose 3 percent to 19,136.32.
Published 29 Aug, 2015 12:00am
European shares rise but still face worst month in 4 years
Currency

European shares rise but still face worst month in 4 years

European stocks closed out a rollercoaster week with modest gains on Friday, although a leading regional equity index was still on track for its worst month in four years due to underlying concerns over China. The pan-European FTSEurofirst 300 index close
Published 29 Aug, 2015 12:00am
Australian shares end higher

Australian shares end higher

Australian shares ended 0.6 percent higher on Friday, boosted by a rebound in commodities, with miners and energy-related stocks propping up the index. Major miners BHP Billiton gained nearly 6 percent while Rio Tinto jumped 4.7 percent. The S&P/ASX 200 i
Published 29 Aug, 2015 12:00am
Southeast Asian markets: Malaysia, Philippines up ahead of holiday

Southeast Asian markets: Malaysia, Philippines up ahead of holiday

Southeast Asian stock markets rose on Friday as upbeat US economic growth data lifted sentiment in Asia, with foreign-led buying sending Malaysia's key stock index to a more than two-week closing high ahead of a three-day weekend. The Kuala Lumpur composi
Published 29 Aug, 2015 12:00am
FTSE posts biggest monthly decline since 2012
Currency

FTSE posts biggest monthly decline since 2012

Britain's top share index posted its biggest monthly drop in August since 2012 after fears over China's growth hit global markets, although it managed to recoup more losses on Friday following a volatile start to the week. The FTSE 100 was 55.91 points, o
Published 29 Aug, 2015 12:00am
China's yuan up sharply
Currency

China's yuan up sharply

China's yuan rose sharply against the dollar on Friday, with traders citing large transactions by state-owned banks on behalf of the central bank to support the currency. "There were clear signs that the central bank was continuing intervening in spot tra
Published 29 Aug, 2015 12:00am
Dollar bulls brighten up in Asia

Dollar bulls brighten up in Asia

The dollar held near one-week highs against a basket of major currencies early on Friday, having benefited from upbeat US data and as investors continued to cut back on safe-havens such as the yen. Commodity currencies including the Australian dollar mana
Published 29 Aug, 2015 12:00am
Dollar index slips in Europe
Currency

Dollar index slips in Europe

The dollar eased against a basket of major currencies for the first time in four days on Friday, with investors awaiting fresh comment from the US Federal Reserve on interest rates after a tumultuous week in global financial markets. The dollar had bounce
Published 29 Aug, 2015 12:00am
Early trade in New York: dollar gains on rate remarks

Early trade in New York: dollar gains on rate remarks

The dollar rose to one-week highs on Friday, for a fourth straight session of gains, on rate-hike remarks by a senior Fed official and generally positive US data that supported the notion the world's largest economy was on a stable growth path. The dollar
Published 29 Aug, 2015 12:00am
Dollar stays up in New York
Currency

Dollar stays up in New York

The dollar rose for a third consecutive session on Thursday, bolstered by data showing a much stronger US economy than had been thought and by gains in global equities, which benefited from improving risk sentiment. US data showing falling jobless claims
Published 29 Aug, 2015 12:00am
Sri Lankan rupee falls
Currency

Sri Lankan rupee falls

The Sri Lankan rupee fell on Friday as a state-run bank, through which the central bank usually directs the market, raised the currency's peg against the dollar by 15 cents, allowing the exchange rate to depreciate to 134.30. The local currency ended 0.11
Published 29 Aug, 2015 12:00am
Most emerging Asian currencies slip
Currency

Most emerging Asian currencies slip

Most emerging Asian currencies slid on Friday and were headed for weekly losses despite extended stock market rallies indicating that sentiment remains fragile amid worries about uneven global growth. The Thai baht hit a near 6-1/2-year low as the central
Published 29 Aug, 2015 12:00am
Rand tumbles

Rand tumbles

South Africa's rand weakened over one percent on Friday as a recent rally failed to hold after a string of solid data from the US lifted the dollar, reigniting bets on an early rate hike there. At 1552 GMT, the rand had slipped 1.2 percent to 13.3475, str
Published 29 Aug, 2015 12:00am
Sterling tumbles against dollar
Currency

Sterling tumbles against dollar

Sterling fell to its lowest against the dollar in more than a month on Friday, erasing earlier gains made after data confirmed the British economy grew at a good pace in the second quarter. Sterling rose to $1.5427 immediately after the data from $1.5400
Published 29 Aug, 2015 12:00am
Aussie and New Zealand dollar extend gains

Aussie and New Zealand dollar extend gains

The Australian and New Zealand dollars gained more ground on Friday after strong US economic data boosted investor sentiment, but were still on track to end the week sharply lower as markets remained wary of China. The Australian dollar popped to $0.7184,
Published 29 Aug, 2015 12:00am
MTFA Sports Family Festival under way

MTFA Sports Family Festival under way

Robin, Rivaldo, Messi, Platini and Passcal registered victories to move into quarter final in the Robin, Rivaldo, Messi, Platini & Passcal at Model Town Football Ground on Friday. Passcal defeat Cafu on penalty shoot-out 7-3 after 1-1 draw during the full
Published 29 Aug, 2015 12:00am
Bell to bat on with England

Bell to bat on with England

England batsman Ian Bell has insisted he is determined to carry on in international cricket following talks with coach Trevor Bayliss and captain Alastair Cook. In the immediate aftermath of England's Test series victory over Australia, five-times Ashes-w
Published 29 Aug, 2015 12:00am
I'm clean, says Schippers after 200m gold

I'm clean, says Schippers after 200m gold

Dutchwoman Dafne Schippers rejected any suggestion of doping after she smashed a 36-year-old European record to win the world 200m title with the fourth fastest run in history on Friday. Schippers, who claimed 100m silver on Monday and only switched to sp
Published 29 Aug, 2015 12:00am
Taylor's car antics leave owner stumped

Taylor's car antics leave owner stumped

Former Zimbabwe captain Brendan Taylor was discovered asleep in someone else's car after Nottinghamshire's victory over Durham in English county cricket's One-Day Cup on Tuesday. Michael Whitaker, 45, from West Bridgford, Nottingham, was leaving for work
Published 29 Aug, 2015 12:00am
Bolt's scooter assailant says sorry with bracelet

Bolt's scooter assailant says sorry with bracelet

The cameraman who sent Usain Bolt flying at the world athletics championships presented him with a red bracelet on Friday to apologise, after footage of the incident went viral. A red-faced Song Tao of China's CCTV placed the good-luck charm on Bolt's wri
Published 29 Aug, 2015 12:00am
Jamaican Williams wins world 100m hurdles

Jamaican Williams wins world 100m hurdles

Jamaican Danielle Williams won the women's 100m hurdles at the world championships on Friday. Williams clocked a personal best of 12.57 seconds, with Germany's Cindy Roleder taking silver in 12.59 and Alina Talay bronze in a Belarus national record of 12.
Published 29 Aug, 2015 12:00am
Liu breaks China gold drought, Eaton leads decathlon

Liu breaks China gold drought, Eaton leads decathlon

Liu Hong won the women's 20 kilometres walk on Friday to hand China its first gold medal of the Beijing world championships, as defending champion Ashton Eaton took control of the decathlon. The morning after Usain Bolt's emphatic 200m win at the Bird's N
Published 29 Aug, 2015 12:00am
Liverpool face tricky Europa League group

Liverpool face tricky Europa League group

Five-time European champions Liverpool face a stern test of their continental experience after drawing former French champions Bordeaux and Russia's Rubin Kazan in the Europa League group stages on Friday. Brendan Rodgers' Premier League giants will also
Published 29 Aug, 2015 12:00am
Rain ruins play after Sri Lanka rattle India

Rain ruins play after Sri Lanka rattle India

Sri Lanka gave India a scare before bad weather washed out a major part of the opening day's play in the series-deciding third and final Test in Colombo on Friday. Just 15 overs were bowled in the 75 minutes of play possible before lunch, during which Sri
Published 29 Aug, 2015 12:00am
Wozniacki, Kvitova set New Haven semi showdown

Wozniacki, Kvitova set New Haven semi showdown

Four-time champion Caroline Wozniacki and two-time defending champ Petra Kvitova on Thursday set up a mouth-watering semi-final showdown at the US Open tune-up event at New Haven. Kvitova, the second seed, rallied from 5-3 down in the opening set to beat
Published 29 Aug, 2015 12:00am
Syria refugee numbers approach 20 percent of pre-war population

Syria refugee numbers approach 20 percent of pre-war population

Syria's four-and-a-half year conflict has driven half of the country's people to flee their homes, with the number of those who have left the country approaching 20 percent of the pre-war population. At least 7.6 million people are displaced within Syria,
Published 29 Aug, 2015 12:00am
Ashley Madison boss steps down after data breach

Ashley Madison boss steps down after data breach

The chief executive of dating-for-adulterers website Ashley Madison stepped down on Friday after hackers leaked its membership list online. Parent company Avid Life Media, which operates the infidelity network, said it and CEO Noel Biderman were in "mutua
Published 29 Aug, 2015 12:00am
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