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Dec 23, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-09-30
UK retail sales grow by more than expected in September

UK retail sales grow by more than expected in September

British retail sales growth beat expectations this month by a comfortable margin, a survey by the Confederation of British Industry showed on Tuesday. The CBI distributive trades survey's retail sales balance rose to +49 in September - its highest since M
Published 30 Sep, 2015 12:00am
Indonesia unveils second batch of steps to lure investors
Currency

Indonesia unveils second batch of steps to lure investors

Indonesia on Tuesday announced a second package of economic stimulus measures in three weeks, increasing efforts to lure investment, prop up the battered rupiah and revive growth in Southeast Asia's largest economy. The new measures include cutting the nu
Published 30 Sep, 2015 12:00am
Spanish prices drop sharply in September, retail sales rise

Spanish prices drop sharply in September, retail sales rise

Spanish consumer prices fell at their fastest rate in seven months in September, preliminary data showed on Tuesday, dragged down by low electricity and oil costs, while retail sales continued to rise on the back of growing demand. Flash EU-harmonised con
Published 30 Sep, 2015 12:00am
Yahoo rises on decision to proceed with Alibaba stake spinoff

Yahoo rises on decision to proceed with Alibaba stake spinoff

Yahoo Inc shares rose as much as 6 percent on Tuesday after the company said it would proceed with the spinoff of its stake in Chinese e-commerce company Alibaba Group Holding Ltd despite the risk that the deal might not be tax-free. Shares of Yahoo, whic
Published 30 Sep, 2015 12:00am
Vietnam's Q3 economic growth picks up to 6.8 percent, fastest this year

Vietnam's Q3 economic growth picks up to 6.8 percent, fastest this year

Vietnam's economy grew 6.81 percent in the third quarter from a year earlier, accelerating from 6.47 percent in the previous quarter, the government said on Tuesday, fuelled by strong exports and manufacturing and record foreign direct investment. The eco
Published 30 Sep, 2015 12:00am
Ireland to increase capital spending to keep up with recovery

Ireland to increase capital spending to keep up with recovery

Ireland unveiled a six-year 27 billion-euro ($30 billion) capital investment plan on Tuesday, gradually increasing spending and promising voters rail, broadband and school projects in the run-up to elections. Dublin had to sharply cut its capital budget a
Published 30 Sep, 2015 12:00am
Canada's producer prices fall

Canada's producer prices fall

Canadian producer prices fell slightly more than expected in August after three consecutive months of gains, driven by the lower cost of energy and petroleum products, data from Statistics Canada showed on Tuesday. The 0.3 percent decline exceeded analyst
Published 30 Sep, 2015 12:00am
Halliburton, Baker Hughes to sell assets for merger nod

Halliburton, Baker Hughes to sell assets for merger nod

Oil-services companies Halliburton and Baker Hughes announced Monday they plan to sell additional businesses to win support from US antitrust regulators for their $34.6 billion merger. Additional properties targeted for sale include assets in Halliburton'
Published 30 Sep, 2015 12:00am
Greece scraps reduced VAT rates on islands as per bailout deal

Greece scraps reduced VAT rates on islands as per bailout deal

Greece will scrap reduced value added tax (VAT) rates on October 1 on six islands which are very popular with tourists, as agreed with its international lenders, the finance ministry said on Monday. Prime Minister Alexis Tsipras, who was re-elected on Sep
Published 30 Sep, 2015 12:00am
Sri Lanka's July trade deficit narrows 32.3 percent

Sri Lanka's July trade deficit narrows 32.3 percent

Sri Lanka's trade deficit in July narrowed 32.3 percent to $601.8 million from $888.7 million a year earlier, central bank data showed on Tuesday. Exports for the month were $932.1 million, down 2.6 percent from a year earlier. Imports fell 16.9 percent t
Published 30 Sep, 2015 12:00am
Vietnam's coffee trade slows as farmers hold stocks

Vietnam's coffee trade slows as farmers hold stocks

Trade in Vietnam's robusta coffee has been slowing as farmers are holding on to stocks and prohibitively high prices deterred importers from concluding deals, traders said on Tuesday. November robusta coffee on ICE had risen 5.63 percent late last week be
Published 30 Sep, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Monday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 6,937 million as compared to PKR 4,096 million reported on Friday, an increase of 69 percent. The number of lots traded also increased by 54 percent to 46.47 million from 30.10 millio
Published 30 Sep, 2015 12:00am
European wheat prices drop in late trade

European wheat prices drop in late trade

European wheat prices dropped in late trade on Monday, retreating from a one-month high hit earlier in the session, due to a fall on US wheat markets. December milling wheat, the benchmark on the Paris-based Euronext market, was down 0.5 percent or 1.0 eu
Published 30 Sep, 2015 12:00am
US FOB Gulf soyabean premiums mostly steady

US FOB Gulf soyabean premiums mostly steady

Soyabean export premiums at the Gulf Coast were mostly steady on Monday on seasonally improving demand for US shipments and rising supplies of newly harvested beans, traders said. FOB basis offers for wheat and corn held steady, with demand for US grain r
Published 30 Sep, 2015 12:00am
Activity at Karachi & Qasim ports

Activity at Karachi & Qasim ports

The Karachi Port handled 92,235 tonnes of cargo comprising 69,716 tonnes of import cargo and 22,519 tonnes of export cargo including 4,771 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargo of 69,7
Published 30 Sep, 2015 12:00am
Oil cake market rates
Cotton

Oil cake market rates

The December vaida was higher on the forward cottonseeds oilcake market on Tuesday in the process of trading, dealers said. The December vaida closed at Rs 1306.50 and opened with 30 paisa gain at Rs 1306.80 in the early session, dealers said. The January
Published 30 Sep, 2015 12:00am
Cotton market: prices post gains on strong demand by mills
Cotton

Cotton market: prices post gains on strong demand by mills

Increase in mills' buying pushed rates up on the cotton market on Tuesday in the process of trading, dealers said. The official spot rate went up by Rs 50 to Rs 4,750, dealers said. In Sindh, seed cotton prices were at Rs 2300 and Rs 2400 and in Punjab pr
Published 30 Sep, 2015 12:00am
US Midwest corn bids mixed

US Midwest corn bids mixed

Corn spot basis bids were steady to mixed around the US Midwest on Monday as rains interrupted the flow of freshly harvested supplies coming to market, grain merchants said. Cash corn bids recouped a portion of their recent declines amid the harvest delay
Published 30 Sep, 2015 12:00am
Modest business on grain market
Cotton

Modest business on grain market

Lean business was seen on the grain market on Tuesday due to little interest in fresh buying, dealers said. On the cereals side, Moong Afghan gained Rs 300 to Rs 11250, other commodities held overnight levels, they added. On the seeds side, cottonseeds oi
Published 30 Sep, 2015 12:00am
Egyptian pound steady
Currency

Egyptian pound steady

The Egyptian pound was held steady by the central bank which sold $37.8 million at a cut-off price of 7.7301 pounds per dollar on Tuesday, but strengthened on the parallel market. The official cut-off price remained unchanged from last Tuesday's dollar sa
Published 30 Sep, 2015 12:00am
Yen rises broadly in Asia

Yen rises broadly in Asia

The yen firmed broadly on Tuesday as a sharp selloff in global equities sent investors into safer assets and took a heavy toll on commodity currencies. Worries about the health of the Chinese economy grew after industrial firms suffered their biggest prof
Published 30 Sep, 2015 12:00am
Commodity currencies recover in Europe

Commodity currencies recover in Europe

A sell off in growth-linked commodity-related currencies like the Australian and Canadian dollars took a breather on Tuesday, after shares in mining and trading giant Glencore stabilised, having fallen by almost a third at the start of the week. The euro,
Published 30 Sep, 2015 12:00am
Early trade in New York: dollar mixed as commodity currencies recover

Early trade in New York: dollar mixed as commodity currencies recover

The US dollar traded mixed on Tuesday, with volatility in global markets dulling prospects for US interest rates increases, while Canada's and Australia's battered commodity-related currencies gained. Global stocks slid to lows not seen in more than two y
Published 30 Sep, 2015 12:00am
Dollar drops in New York
Currency

Dollar drops in New York

The dollar declined on Monday as the yen rallied amid slumping global stock prices pulled down by worrisome corporate profits in China and anxiety over potentially market-rattling economic data due this week from China, Europe and the United States. Europ
Published 30 Sep, 2015 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 77.80-77.80 (previous 77.80-77.80). 05.35-06.50 percent. (Previous 05.30-06.50 percent).
Published 30 Sep, 2015 12:00am
China's yuan inches up
Currency

China's yuan inches up

China's yuan inched up against the dollar on Tuesday after the central bank set a firmer midpoint and was also suspected of selling dollars via state banks to support the Chinese currency, traders said. The People's Bank of China set the midpoint rate at
Published 30 Sep, 2015 12:00am
Asian forex: ringgit hits another 17-year low
Currency

Asian forex: ringgit hits another 17-year low

The Malaysian ringgit tumbled to another 17-year low versus the dollar on Tuesday, as persistent worries about the health of the Chinese and global economies dented risk appetites and Asian currencies. The ringgit shed more than 1 percent and touched a lo
Published 30 Sep, 2015 12:00am
Sri Lankan rupee ends steady
Currency

Sri Lankan rupee ends steady

The Sri Lankan rupee ended steady on Tuesday as a state-run bank sold dollars to offset importer demand for the greenback, a day after the currency hit a record low. The rupee ended steady at 141.25/30 per dollar, compared with Monday's close. The spot cu
Published 30 Sep, 2015 12:00am
Sterling hits five-month low before Carney speech
Currency

Sterling hits five-month low before Carney speech

Sterling slipped to its weakest in almost five months against the dollar on Tuesday, with traders eyeing a speech by the head of the Bank of England later in the day for clues on when UK interest rates might start to rise. The pound fell as much as 0.4 pe
Published 30 Sep, 2015 12:00am
Aussie, kiwi drop

Aussie, kiwi drop

The Australian and New Zealand dollars skidded on Tuesday as more disappointing data came out of China and falling commodity prices sent investors scurrying to the safety of the yen and bonds. The Australian dollar dropped around half a cent to $0.6952 on
Published 30 Sep, 2015 12:00am
Dizzy Wozniacki, Azarenka join Wuhan casualty list

Dizzy Wozniacki, Azarenka join Wuhan casualty list

Caroline Wozniacki complained of dizzy spells on Tuesday as she joined Victoria Azarenka on the long list of casualties at the Wuhan Open, which has been badly hit by upsets and retirements. A day after Maria Sharapova and Eugenie Bouchard both withdrew w
Published 30 Sep, 2015 12:00am
Warner banned from football for life

Warner banned from football for life

FIFA's ethics committee on Tuesday banned former FIFA vice-president Jack Warner from all football activity for life for a long list of "misconduct." Warner, 72, is one of the key defendants in a US investigation into world football that has rocked its go
Published 30 Sep, 2015 12:00am
PCB chief optimistic of India series

PCB chief optimistic of India series

Pakistan's cricket chief Tuesday said he was optimistic about a proposed series with arch-rival India as officials from the two countries prepare to meet in Dubai next month. The current political tension between the two countries, with frequent cease-fir
Published 30 Sep, 2015 12:00am
Kaushal cleared to bowl without 'doosra'

Kaushal cleared to bowl without 'doosra'

Sri Lankan off-spinner Tharindu Kaushal - who was reported for a suspect action - has been cleared to resume playing provided he does not bowl the "doosra", the International Cricket Council said on Tuesday. Kaushal, 22, was reported during the third Test
Published 30 Sep, 2015 12:00am
Australian staff leave Dhaka with tour in doubt

Australian staff leave Dhaka with tour in doubt

Australian officials were Tuesday returning from Bangladesh after meetings with high-level security figures, but no final decision has yet been taken on the upcoming Test tour, Cricket Australia said. The team's departure was delayed on Sunday on security
Published 30 Sep, 2015 12:00am
Misfiring Ronaldo eyes history in Malmo

Misfiring Ronaldo eyes history in Malmo

Cristiano Ronaldo will aim to end an uncharacteristically long goal drought at three games when Real Madrid travel to face Malmo in the Champions League on Wednesday. Ronaldo is just two goals shy of matching Raul's 323-goal record as Madrid's top goalsco
Published 30 Sep, 2015 12:00am
Bangladesh women cricketers 'comfortable' in Pakistan

Bangladesh women cricketers 'comfortable' in Pakistan

Bangladesh women's cricket captain Salma Khatun said Tuesday her players feel "comfortable" in Pakistan as they prepare for a series, even though most foreign teams have shunned the conflict-racked country for years. The series, comprising two Twenty20s a
Published 30 Sep, 2015 12:00am
Manohar set for return as India's BCCI chief

Manohar set for return as India's BCCI chief

India's powerful cricket board will meet at the weekend to elect a new president following the death of Jagmohan Dalmiya, its secretary said Tuesday. Anurag Thakur said the Board of Control for Cricket in India (BCCI) was expected to pick former supremo S
Published 30 Sep, 2015 12:00am
South Africa flattened in India tour opener

South Africa flattened in India tour opener

South Africa made a dismal start to their 10-week tour of India, losing a Twenty20 warm-up match to a second-string side by eight wickets in New Delhi on Tuesday. India 'A', comprising young talent drawn from across the country, chased down a competitive
Published 30 Sep, 2015 12:00am
Pakistan win T20 series against Zimbabwe

Pakistan win T20 series against Zimbabwe

Umar Akmal's aggressive innings proved crucial in a low-scoring game as Pakistan beat Zimbabwe by 15 runs to win Tuesday's Twenty20 international at Harare Sports Club and sweep the two-match series. Akmal scored 38 not out from 28 balls and added 24 runs
Published 30 Sep, 2015 12:00am
Airport shut as Burkina army encircles coup plotters' barracks

Airport shut as Burkina army encircles coup plotters' barracks

Ougadougou airport was shut down Tuesday as Burkina troops locked down the area around the barracks of an elite unit behind a short-lived coup after they failed to disarm, raising fears of a new confrontation. All flights were cancelled and the airport, w
Published 30 Sep, 2015 12:00am
VW draws up refit plan for cars in pollution scam

VW draws up refit plan for cars in pollution scam

Volkswagen revealed Tuesday it has drawn up a plan to refit millions of vehicles in a world-wide pollution-cheating scam, as its new chief vowed to act ruthlessly to overcome the "severest test" in the car giant's history. The German government has given
Published 30 Sep, 2015 12:00am
Court summons pressures Catalan separatist leader

Court summons pressures Catalan separatist leader

A court Tuesday summoned Catalonia's president to face possible charges for holding a 2014 independence ballot, a suit his allies branded politically motivated as they push to break away from Spain. The move by the Catalonia high court came as a bitter st
Published 30 Sep, 2015 12:00am
Tajikistan shuts down Islamic opposition party

Tajikistan shuts down Islamic opposition party

Tajikistan on Tuesday declared the country's top opposition party a terrorist organisation after the government accused it of being behind bloody street battles that left dozens dead. The volatile and impoverished Central Asian state's supreme court accep
Published 30 Sep, 2015 12:00am
Erdogan vows no let-up in fight against PKK

Erdogan vows no let-up in fight against PKK

Turkish President Recep Tayyip Erdogan vowed Tuesday there would no let-up in operations against Kurdish rebel strongholds, after a cross-border raid this week killed more than 30 militants. "We will not stop," Erdogan said in a televised speech in Ankara
Published 30 Sep, 2015 12:00am
131 dead in alleged strike on Yemen wedding

131 dead in alleged strike on Yemen wedding

The death toll from an alleged air strike on a Yemeni wedding soared Tuesday to 131, including women and children, as the Saudi-led coalition denied it was behind the incident. UN chief Ban Ki-moon condemned Monday's reported bombardment, saying intention
Published 30 Sep, 2015 12:00am
Ukraine opens high-stakes trial of captured Russians

Ukraine opens high-stakes trial of captured Russians

Ukraine on Tuesday launched the criminal trial of two captured Russian soldiers it claims will prove Moscow's direct but covert involvement in the conflict in the war-torn former Soviet state. Kiev's forces seized the two wounded men during a May gun batt
Published 30 Sep, 2015 12:00am
Corbyn calls for 'end to injustice' in Britain

Corbyn calls for 'end to injustice' in Britain

The British Labour Party's new leader Jeremy Corbyn on Tuesday called for an "end to injustice" in Britain, accusing Prime Minister David Cameron's Conservative government of creating poverty. In his first speech as leader at the party's annual conference
Published 30 Sep, 2015 12:00am
Romanian Prime Minister survives no-confidence vote

Romanian Prime Minister survives no-confidence vote

Romanian Prime Minister Victor Ponta comfortably survived a no-confidence vote in parliament on Tuesday, his first major test since becoming the country's only sitting premier to stand trial for corruption. All three parties in Ponta's coalition abstained
Published 30 Sep, 2015 12:00am
Sporadic clashes hit Jerusalem, West Bank

Sporadic clashes hit Jerusalem, West Bank

Sporadic clashes between Israeli security forces and Palestinians hit Jerusalem's Old City and a checkpoint outside Ramallah Tuesday, with tensions heightened as Jews celebrated their Sukkot holiday. The incidents followed fresh clashes Monday at Jerusale
Published 30 Sep, 2015 12:00am
Moscow slams US-led counter-terrorism summit at UN

Moscow slams US-led counter-terrorism summit at UN

Moscow on Tuesday slammed the holding of a US-led counter-terrorism summit at the United Nations, calling it disrespectful. On Tuesday, President Barack Obama sat down with more than 100 leaders at the UN to push ahead with a US-led campaign against the I
Published 30 Sep, 2015 12:00am
US lacks strategy to stop Americans joining jihadists

US lacks strategy to stop Americans joining jihadists

Nearly 30,000 foreigners have travelled to Iraq and Syria to join jihadists since 2011 and the United States is failing to stop Americans from heading overseas to join them, a report warned Tuesday. The document describes a national security infrastructur
Published 30 Sep, 2015 12:00am
Russia establishes seaborne lifeline for Syrian allies

Russia establishes seaborne lifeline for Syrian allies

The Alexandr Tkachenko, an ageing ferry with a canary-yellow hull, usually carries people across the Kerch Strait, a bustling sea route and the only connection between Russia and Crimea, the peninsula Moscow annexed from Ukraine last year. But the crossin
Published 30 Sep, 2015 12:00am
Kuwait minister offers to resign over dubious contract

Kuwait minister offers to resign over dubious contract

A Kuwaiti minister tendered his resignation on Tuesday after a court sentenced him to jail for wrongly approving a contract that inflicted heavy losses on the state, the government said. A statement issued by the cabinet following its weekly meeting said
Published 30 Sep, 2015 12:00am
Vietnam president visits Cuba

Vietnam president visits Cuba

Vietnam's president has begun a two-day visit to Cuba aimed at boosting political and economic ties, the official newspaper Granma reported Tuesday. Communist-ruled Vietnam is a model for the economic reforms that President Raul Castro is carrying out to
Published 30 Sep, 2015 12:00am
Weak oil, global equities hit Gulf markets

Weak oil, global equities hit Gulf markets

Weak oil prices and global equity prices hit Gulf stock markets on Tuesday, with Saudi Arabia and Qatar dropping the most as they reopened after a long Eidul-Azha break. The Saudi stock index closed 1.4 percent lower. Brent crude had dropped about 3 perce
Published 30 Sep, 2015 12:00am
Sri Lankan stocks edge up

Sri Lankan stocks edge up

Sri Lankan shares ended Tuesday slightly firmer from the previous session's 11-week low, snapping a losing streak over three straight sessions, helped by foreign buying of bluechips. Foreign investors were net buyers of 40.3 million rupees worth of shares
Published 30 Sep, 2015 12:00am
Nikkei tumbles

Nikkei tumbles

Japanese stocks tumbled more than 4 percent and turned negative for the year on Tuesday, as fears about China's cooling economy rippled through global markets and pummelled shares of commodity-linked firms and shippers. Data on Monday rekindled lingering
Published 30 Sep, 2015 12:00am
Tuesday's early trade: stocks rise as health care stocks bounce back

Tuesday's early trade: stocks rise as health care stocks bounce back

US stocks were higher in late morning trading on Tuesday as shares of health care companies bounced back and data showed consumer confidence was at its highest since January. Concerns about the health of the global economy, however, persisted after weak d
Published 30 Sep, 2015 12:00am
Wall Street plummets as anxious investors eye China

Wall Street plummets as anxious investors eye China

US stocks finished sharply lower on Monday and were on track for their worst quarter in four years as investors worried about the health of China's economy and its potential impact on the timing of a US interest rate increase. The Nasdaq composite lost 3
Published 30 Sep, 2015 12:00am
Indian stocks up

Indian stocks up

Indian stocks ended higher on Tuesday, reversing losses of more than 1 percent earlier in the session, after the central bank surprised the street with a bigger-than-expected rate cut. The Reserve Bank of India cut its key repo rate by a larger-than-expec
Published 30 Sep, 2015 12:00am
Treasuries gain

Treasuries gain

US Treasuries prices gained on Monday as global equity prices fell amid concerns over sluggish economic growth in China and falling commodity prices, ahead of Friday's highly anticipated employment report. Worries about slowing global growth and a selloff
Published 30 Sep, 2015 12:00am
Treasuries gain

Treasuries gain

US Treasuries prices gained on Monday as global equity prices fell amid concerns over sluggish economic growth in China and falling commodity prices, ahead of Friday's highly anticipated employment report. Worries about slowing global growth and a selloff
Published 30 Sep, 2015 12:00am
Australian shares tumble 3.8 percent

Australian shares tumble 3.8 percent

Australian shares slumped 3.8 percent on Tuesday to two-year lows as commodities and energy-related counters were hit hard by persistent worries about China's slowing economy. The S&P/ASX 200 index tumbled 195.09 points to finish at 4,918.4, the lowest cl
Published 30 Sep, 2015 12:00am
Southeast Asian markets Indonesia recovers on government stimulus

Southeast Asian markets Indonesia recovers on government stimulus

Most Southeast Asian stock markets ended weaker on Tuesday as investors looked for cues on global economic health from key economic data later this week, while Indonesian shares recovered strongly on fresh government stimulus measures. The Jakarta Composi
Published 30 Sep, 2015 12:00am
European stocks languish near year's low

European stocks languish near year's low

European shares partially recovered from an early drop on Tuesday, supported after battered miner Glencore halted a slide in its share price, although top indexes lingered near their lows for 2015. The pan-European FTSEurofirst 300 index closed down 0.6 p
Published 30 Sep, 2015 12:00am
Hong Kong stocks tumble to two-year lows

Hong Kong stocks tumble to two-year lows

Hong Kong stocks tumbled 3 percent to a two-year low on Tuesday as growing fears of a sharp slowdown in the world economy sparked heavy selling, particularly in energy and commodity related shares. The benchmark Hang Seng index fell 3.0 percent to 20,556.
Published 30 Sep, 2015 12:00am
China stocks fall two percent

China stocks fall two percent

China stocks fell around 2 percent on Tuesday, led by energy and commodity-related shares as Chinese investors joined a global equity selloff triggered by fears of a sharp slowdown in the world economy. But trading remained thin - daily trading volume in
Published 30 Sep, 2015 12:00am
FTSE dragged down by Wolseley, healthcare despite mining rebound

FTSE dragged down by Wolseley, healthcare despite mining rebound

Britain's leading share index fell on Tuesday, with a rebound for the mining sector failing to offset the impact of a cut in revenue growth prospects from plumbing supplies group Wolseley and the ripple effect from a US healthcare sell-off. The FTSE 100 i
Published 30 Sep, 2015 12:00am
Colgate Palmolive Pakistan Limited

Colgate Palmolive Pakistan Limited

Colgate-Palmolive Pakistan Ltd (COLG) is among the leading multinational consumer goods company in Pakistan. A member of Lakson Group Company, it began its operations back in 1985 when the US based Colgate-Palmolive granted the firm license to manufacture
Published 30 Sep, 2015 12:00am
Colgate Palmolive Pakistan Limited

Colgate Palmolive Pakistan Limited

Colgate-Palmolive Pakistan Ltd (COLG) is among the leading multinational consumer goods company in Pakistan. A member of Lakson Group Company, it began its operations back in 1985 when the US based Colgate-Palmolive granted the firm license to manufacture
Published 30 Sep, 2015 12:00am
Japan says bid for Indonesian railway rejected, China wins

Japan says bid for Indonesian railway rejected, China wins

Japan said Tuesday its bid to build a major railway in Indonesia had been rejected with China instead to be awarded the project, slamming the decision as "extremely regrettable". China and Japan had for months been vying to build a new railway in Indonesi
Published 30 Sep, 2015 12:00am
German inflation back to zero in September

German inflation back to zero in September

Consumer prices in Germany, Europe's biggest economy, did not rise in September, data showed on Tuesday, raising pressure on the ECB to prevent the wider euro area from slipping into a dangerous cycle of falling prices. Germany's national inflation yardst
Published 30 Sep, 2015 12:00am
EU's banking watchdog wants more power to preserve single market

EU's banking watchdog wants more power to preserve single market

The European Union's banking regulator should be given freer rein to forge a more integrated banking system and preserve the bloc's single market, the watchdog's chairman has said. In a speech that will be seen as call for more independence by some regula
Published 30 Sep, 2015 12:00am
Axel Springer buys Business Insider for 300 million euros

Axel Springer buys Business Insider for 300 million euros

German media giant Axel Springer said Tuesday it has agreed to buy the US website Business Insider for around 300 million euros ($336 million), two months after its failed attempt to take over the Financial Times. Axel Springer, which already holds a nine
Published 30 Sep, 2015 12:00am
Axel Springer buys Business Insider for 300 million euros

Axel Springer buys Business Insider for 300 million euros

German media giant Axel Springer said Tuesday it has agreed to buy the US website Business Insider for around 300 million euros ($336 million), two months after its failed attempt to take over the Financial Times. Axel Springer, which already holds a nine
Published 30 Sep, 2015 12:00am
Bank ratings could be cut if cyber defences are weak, S&P warns

Bank ratings could be cut if cyber defences are weak, S&P warns

Banks are a "natural target" for cyber criminals and could see their credit ratings cut if they have weak defences or they are hacked, Standard & Poor's warned. "We view weak cybersecurity as an emerging threat that has the potential to pose a higher risk
Published 30 Sep, 2015 12:00am
Bank ratings could be cut if cyber defences are weak, S&P warns

Bank ratings could be cut if cyber defences are weak, S&P warns

Banks are a "natural target" for cyber criminals and could see their credit ratings cut if they have weak defences or they are hacked, Standard & Poor's warned. "We view weak cybersecurity as an emerging threat that has the potential to pose a higher risk
Published 30 Sep, 2015 12:00am
Thirteen more top banks join R3 blockchain consortium
Currency

Thirteen more top banks join R3 blockchain consortium

Thirteen top banks, including HSBC and Deutsche Bank, have joined a consortium led by financial tech firm R3 that is working on a framework for using blockchain technology in markets, a spokesman for the firm said on Tuesday. Nine other banks had already
Published 30 Sep, 2015 12:00am
US consumer confidence brightens

US consumer confidence brightens

US consumer confidence grew moderately in September, building on August's strong rebound, as consumers turned more positive about current economic conditions, the Conference Board reported Tuesday. The Consumer Confidence Index rose to 103.0 in September,
Published 30 Sep, 2015 12:00am
Turkish economic confidence tumbles to record low in September
Currency

Turkish economic confidence tumbles to record low in September

Turkey's economic confidence index took a record plunge in September, data showed on Tuesday, the starkest evidence yet of the damage political uncertainty and escalating violence have done to its long-term outlook. The index, the broadest measure of sent
Published 30 Sep, 2015 12:00am
Eurozone economic sentiment hits four-year high in September

Eurozone economic sentiment hits four-year high in September

Eurozone economic sentiment hit a new 4-year high in September, European Commission data showed on Tuesday, mainly thanks to more optimism in industry, and the retail and services sectors. The overall economic sentiment rose to 105.6 this month from 104.1
Published 30 Sep, 2015 12:00am
Just considering US government shutdown costs money: experts

Just considering US government shutdown costs money: experts

Congressional Republicans' threatened federal government shutdown is already costing US taxpayers money and it has not even happened yet, budget experts said on Tuesday. Whether or not the party's conservative Tea Party faction forces a shutdown this week
Published 30 Sep, 2015 12:00am
UAE adopts reforms to curb abuse of foreign workers

UAE adopts reforms to curb abuse of foreign workers

The United Arab Emirates on Tuesday announced labour reforms to be enforced from January 1 aimed at curbing abuse and protecting the rights of millions of foreign workers. The UAE and other Arab states in the oil-rich Gulf, notably Qatar, where a construc
Published 30 Sep, 2015 12:00am
Missing Pakistani Hujjaj: PML-Q leader lambastes government's slackness

Missing Pakistani Hujjaj: PML-Q leader lambastes government's slackness

Pakistan Muslim League (PML-Q) Sindh chapter president Haleem Adil Sheikh has lambasted the government for their slackness in finding the missing Pakistani Hujjaj after the Mina Stampede tragedy. Addressing a crowded press conference at Karachi Press Club
Published 30 Sep, 2015 12:00am
Pakistan joins world's largest exhibitions of apparels in Paris
Cotton

Pakistan joins world's largest exhibitions of apparels in Paris

Leading apparel-manufacturing enterprises from different countries like Pakistan, China, Turkey, Indonesia, Hong Kong, Korea and Thailand, actively participated and displayed their products in 'Texworld' and 'Premiere Vision' - the world's largest cotton
Published 30 Sep, 2015 12:00am
China-Pakistan relations enter into new stage of development: Sun

China-Pakistan relations enter into new stage of development: Sun

The Chinese Embassy in Pakistan held a reception to celebrate the 66th anniversary of the founding of People's Republic of China. President Mamnoon Hussain graced the reception as chief guest. More than 900 people from walks of life of the countries were
Published 30 Sep, 2015 12:00am
Two fresh polio cases confirmed in Quetta, Peshawar

Two fresh polio cases confirmed in Quetta, Peshawar

Two fresh cases of crippling polio disease were confirmed in Quetta and Peshawar on Tuesday raising this year's count to 35 across Pakistan. Sources in Balochistan health department said that polio virus was detected in Naqeebullah, a three-year-old boy r
Published 30 Sep, 2015 12:00am
Pak-Qatar Takaful launches corporate documentary

Pak-Qatar Takaful launches corporate documentary

Pak-Qatar Takaful has launched a corporate documentary video which outlines the evolution of Takaful business all over the world. The documentary narrates and aesthetically visualises the inception of Takaful many centuries ago, and how it has evolved eve
Published 30 Sep, 2015 12:00am
Pak-Qatar Takaful launches corporate documentary

Pak-Qatar Takaful launches corporate documentary

Pak-Qatar Takaful has launched a corporate documentary video which outlines the evolution of Takaful business all over the world. The documentary narrates and aesthetically visualises the inception of Takaful many centuries ago, and how it has evolved eve
Published 30 Sep, 2015 12:00am
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