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Print - 2015-12-06
Three dead as Lebanese army raids home of alleged militant

Three dead as Lebanese army raids home of alleged militant

A suspected militant killed himself and two family members by detonating an explosive bomb belt during an army raid in northern Lebanon on Saturday, an army statement said. The army said Mohamed Hamza, a fugitive wanted in connection with militant activit
Published 06 Dec, 2015 12:00am
Three dead as Lebanese army raids home of alleged militant

Three dead as Lebanese army raids home of alleged militant

A suspected militant killed himself and two family members by detonating an explosive bomb belt during an army raid in northern Lebanon on Saturday, an army statement said. The army said Mohamed Hamza, a fugitive wanted in connection with militant activit
Published 06 Dec, 2015 12:00am
Economist Dr Zafar Altaf dies

Economist Dr Zafar Altaf dies

Business Recorder op-ed writer, noted economist and former cricketer Dr Zafar Altaf died of heart attack in Islamabad on Saturday. He was 74. Dr Zafar Altaf also served as head of the Pakistan Cricket Board (PCB) and Chairman of Pakistan Agricultur
Published 06 Dec, 2015 12:00am
Economist Dr Zafar Altaf dies

Economist Dr Zafar Altaf dies

Business Recorder op-ed writer, noted economist and former cricketer Dr Zafar Altaf died of heart attack in Islamabad on Saturday. He was 74. Dr Zafar Altaf also served as head of the Pakistan Cricket Board (PCB) and Chairman of Pakistan Agricultur
Published 06 Dec, 2015 12:00am
Ad hoc judges: SCBA calls for constitutional amendment

Ad hoc judges: SCBA calls for constitutional amendment

The Supreme Court Bar Association (SCBA) has called for a constitutional amendment to end ad hoc appointments of judges in higher judiciary. Speaking at a press conference on Saturday, Bar President Syed Ali Zafar said the appointment of ad hoc judges was
Published 06 Dec, 2015 12:00am
PML-N wins in Punjab: MQM retains its strong sway over Karachi

PML-N wins in Punjab: MQM retains its strong sway over Karachi

The Karachi presidents of both Jamaat-i-Islami and Pakistan Tehreek-i-Insaf lost against Muttahida Qaumi Movement candidate, in the third and last phase of local government polls here on Saturday, according to unofficial results. Moreover, the chief of Pa
Published 06 Dec, 2015 12:00am
PML-N wins in Punjab: MQM retains its strong sway over Karachi

PML-N wins in Punjab: MQM retains its strong sway over Karachi

The Karachi presidents of both Jamaat-i-Islami and Pakistan Tehreek-i-Insaf lost against Muttahida Qaumi Movement candidate, in the third and last phase of local government polls here on Saturday, according to unofficial results. Moreover, the chief of Pa
Published 06 Dec, 2015 12:00am
Tashfeen came to US on fiancee visa

Tashfeen came to US on fiancee visa

The couple who killed 14 people in a mass shooting in California are US citizen of Pakistani origin Syed Farook and his Pakistani wife Tashfeen Malik, who came to the United States last year on a fiancee visa. Of the 61 million temporary visitors to the U
Published 06 Dec, 2015 12:00am
Tashfeen came to US on fiancee visa

Tashfeen came to US on fiancee visa

The couple who killed 14 people in a mass shooting in California are US citizen of Pakistani origin Syed Farook and his Pakistani wife Tashfeen Malik, who came to the United States last year on a fiancee visa. Of the 61 million temporary visitors to the U
Published 06 Dec, 2015 12:00am
IS hails California attackers: Obama insists US 'will not be terrorised'

IS hails California attackers: Obama insists US 'will not be terrorised'

President Barack Obama insisted Saturday that America "will not be terrorised" as the Islamic State group praised the perpetrators of the California mass shooting as "soldiers" of its caliphate. The president's pledge and extremists' praise followed an an
Published 06 Dec, 2015 12:00am
IS hails California attackers: Obama insists US 'will not be terrorised'

IS hails California attackers: Obama insists US 'will not be terrorised'

President Barack Obama insisted Saturday that America "will not be terrorised" as the Islamic State group praised the perpetrators of the California mass shooting as "soldiers" of its caliphate. The president's pledge and extremists' praise followed an an
Published 06 Dec, 2015 12:00am
Prices of perishable kitchen items witness decline

Prices of perishable kitchen items witness decline

The prices of perishable kitchen items witnessed a decline, while prices of non-perishable items especially pulses, wheat flour and tea registered an increase in past week as compared to preceding week, revealed a survey conducted by Business Recorder
Published 06 Dec, 2015 12:00am
Prices of perishable kitchen items witness decline

Prices of perishable kitchen items witness decline

The prices of perishable kitchen items witnessed a decline, while prices of non-perishable items especially pulses, wheat flour and tea registered an increase in past week as compared to preceding week, revealed a survey conducted by Business Recorder
Published 06 Dec, 2015 12:00am
Prices of perishable kitchen items witness decline

Prices of perishable kitchen items witness decline

The prices of perishable kitchen items witnessed a decline, while prices of non-perishable items especially pulses, wheat flour and tea registered an increase in past week as compared to preceding week, revealed a survey conducted by Business Recorder
Published 06 Dec, 2015 12:00am
Cautious hopes as UN adopts climate-saving blueprint

Cautious hopes as UN adopts climate-saving blueprint

Negotiators from 195 nations delivered a blueprint Saturday for a pact to save mankind from disastrous global warming, raising hopes that decades of arguments will finally end with a historic agreement in Paris. The planned deal would aim to break the wor
Published 06 Dec, 2015 12:00am
Cautious hopes as UN adopts climate-saving blueprint

Cautious hopes as UN adopts climate-saving blueprint

Negotiators from 195 nations delivered a blueprint Saturday for a pact to save mankind from disastrous global warming, raising hopes that decades of arguments will finally end with a historic agreement in Paris. The planned deal would aim to break the wor
Published 06 Dec, 2015 12:00am
Cautious hopes as UN adopts climate-saving blueprint

Cautious hopes as UN adopts climate-saving blueprint

Negotiators from 195 nations delivered a blueprint Saturday for a pact to save mankind from disastrous global warming, raising hopes that decades of arguments will finally end with a historic agreement in Paris. The planned deal would aim to break the wor
Published 06 Dec, 2015 12:00am
Cautious hopes as UN adopts climate-saving blueprint

Cautious hopes as UN adopts climate-saving blueprint

Negotiators from 195 nations delivered a blueprint Saturday for a pact to save mankind from disastrous global warming, raising hopes that decades of arguments will finally end with a historic agreement in Paris. The planned deal would aim to break the wor
Published 06 Dec, 2015 12:00am
Forex market: Dar tells FBR to curb illegal trade practices
Kerb

Forex market: Dar tells FBR to curb illegal trade practices

Finance Minister Ishaq Dar Saturday directed the Federal Board of Revenue to take necessary measures to curb illegal trading practices impacting foreign exchange market in the country. The minister, in particular, asked the FBR to obtain from importers, t
Published 06 Dec, 2015 12:00am
Forex market: Dar tells FBR to curb illegal trade practices
Kerb

Forex market: Dar tells FBR to curb illegal trade practices

Finance Minister Ishaq Dar Saturday directed the Federal Board of Revenue to take necessary measures to curb illegal trading practices impacting foreign exchange market in the country. The minister, in particular, asked the FBR to obtain from importers, t
Published 06 Dec, 2015 12:00am
Forex market: Dar tells FBR to curb illegal trade practices
Kerb

Forex market: Dar tells FBR to curb illegal trade practices

Finance Minister Ishaq Dar Saturday directed the Federal Board of Revenue to take necessary measures to curb illegal trading practices impacting foreign exchange market in the country. The minister, in particular, asked the FBR to obtain from importers, t
Published 06 Dec, 2015 12:00am
Rs 238.3 billion released for PSDP projects

Rs 238.3 billion released for PSDP projects

The Federal government has released Rs 238.3 billion under Public Sector Development Programme (PSDP) for various development projects against a budgeted allocation of Rs 700 billion for 2015-16. The government has not yet released funds to ministries of
Published 06 Dec, 2015 12:00am
Rs 238.3 billion released for PSDP projects

Rs 238.3 billion released for PSDP projects

The Federal government has released Rs 238.3 billion under Public Sector Development Programme (PSDP) for various development projects against a budgeted allocation of Rs 700 billion for 2015-16. The government has not yet released funds to ministries of
Published 06 Dec, 2015 12:00am
Rs 238.3 billion released for PSDP projects

Rs 238.3 billion released for PSDP projects

The Federal government has released Rs 238.3 billion under Public Sector Development Programme (PSDP) for various development projects against a budgeted allocation of Rs 700 billion for 2015-16. The government has not yet released funds to ministries of
Published 06 Dec, 2015 12:00am
Single Stage Sales Tax: tax managers to give presentation to IMF

Single Stage Sales Tax: tax managers to give presentation to IMF

The Federal Board of Revenue (FBR) team of tax managers will give a presentation to the International Monetary Fund (IMF) on Single Stage Sales Tax (SSST) and explore possibility to replace SSST with existing standard rate of 17 percent sales tax.
Published 06 Dec, 2015 12:00am
Single Stage Sales Tax: tax managers to give presentation to IMF

Single Stage Sales Tax: tax managers to give presentation to IMF

The Federal Board of Revenue (FBR) team of tax managers will give a presentation to the International Monetary Fund (IMF) on Single Stage Sales Tax (SSST) and explore possibility to replace SSST with existing standard rate of 17 percent sales tax.
Published 06 Dec, 2015 12:00am
Single Stage Sales Tax: tax managers to give presentation to IMF

Single Stage Sales Tax: tax managers to give presentation to IMF

The Federal Board of Revenue (FBR) team of tax managers will give a presentation to the International Monetary Fund (IMF) on Single Stage Sales Tax (SSST) and explore possibility to replace SSST with existing standard rate of 17 percent sales tax.
Published 06 Dec, 2015 12:00am
Iraq calls on Turkey to 'immediately' withdraw troops

Iraq calls on Turkey to 'immediately' withdraw troops

Baghdad Saturday demanded the immediate withdrawal of forces it said Turkey illegally sent into Iraq, which is struggling to assert its sovereignty while receiving foreign assistance against the Islamic State group. Turkish Prime Minister Ahmet Davutoglu
Published 06 Dec, 2015 12:00am
Iraq calls on Turkey to 'immediately' withdraw troops

Iraq calls on Turkey to 'immediately' withdraw troops

Baghdad Saturday demanded the immediate withdrawal of forces it said Turkey illegally sent into Iraq, which is struggling to assert its sovereignty while receiving foreign assistance against the Islamic State group. Turkish Prime Minister Ahmet Davutoglu
Published 06 Dec, 2015 12:00am
Prime Minister chairs meeting on Heart of Asia Conference

Prime Minister chairs meeting on Heart of Asia Conference

Prime Minister Muhammad Nawaz Sharif Saturday chaired a meeting on preparation of Heart of Asia conference, being held in Islamabad next week. In the meeting held at the Prime Minister House, issues related to regional and national security were discussed
Published 06 Dec, 2015 12:00am
Prime Minister chairs meeting on Heart of Asia Conference

Prime Minister chairs meeting on Heart of Asia Conference

Prime Minister Muhammad Nawaz Sharif Saturday chaired a meeting on preparation of Heart of Asia conference, being held in Islamabad next week. In the meeting held at the Prime Minister House, issues related to regional and national security were discussed
Published 06 Dec, 2015 12:00am
The Weather

The Weather

The weather report on Saturday (December 05, 2015) and the forecast for Sunday (November 29, 2015).

Published 06 Dec, 2015 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (December 05, 2015).

Published 06 Dec, 2015 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (December 05, 2015)

Published 06 Dec, 2015 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 05, 2015).

Published 06 Dec, 2015 12:00am
Grain market rates
Cotton

Grain market rates

Karachi grain market rates in rupees on Saturday (December 05, 2015).

Published 06 Dec, 2015 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (December 05, 2015).

Published 06 Dec, 2015 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (December 05, 2015).

Published 06 Dec, 2015 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (December 05, 2015).

Published 06 Dec, 2015 12:00am
Rupee gains
Currency

Rupee gains

The rupee managed to recover further ground against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee improved 20 paisa versus the dollar for buying and selling at Rs 106.80 and Rs 107.10, they added. The rupee
Published 06 Dec, 2015 12:00am
Rupee gains
Currency

Rupee gains

The rupee managed to recover further ground against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee improved 20 paisa versus the dollar for buying and selling at Rs 106.80 and Rs 107.10, they added. The rupee
Published 06 Dec, 2015 12:00am
Asian naphtha cracks edge lower; Indian supply may fall

Asian naphtha cracks edge lower; Indian supply may fall

Asia's naphtha crack edged down but remained near its highest level in more than eight months amid strong petrochemical demand and tighter supply from Europe and India. India's Chennai Petroleum Corp, owned by Indian Oil Corp (IOC), shut its 210,000-barre
Published 06 Dec, 2015 12:00am
Iron ore seen dropping below $40 as China demand wanes

Iron ore seen dropping below $40 as China demand wanes

Spot iron hit a new decade low on Thursday and was seen dropping below $40 a tonne in future, with shrinking steel demand forcing Chinese producers to cut output while there are no signs that top iron ore miners will curb production. The commodity hit har
Published 06 Dec, 2015 12:00am
Asian rice prices ease on thin demand; may rise in 2016

Asian rice prices ease on thin demand; may rise in 2016

Export prices for Vietnamese rice were unchanged this week while they eased slightly for the grain from Thailand on lacklustre demand, although an expected deficit in global supply is likely to buoy prices next year, traders and analysts said. Thailand an
Published 06 Dec, 2015 12:00am
Cotton market: prices firm on modest trade activity
Cotton

Cotton market: prices firm on modest trade activity

Rates showed firmness on the cotton market on Saturday in the process of modest trading, dealers said. The official spot rate was unchanged at Rs 5,200, dealers said. In Sindh, seed cotton prices were at Rs 2200 and Rs 2800 and in the Punjab, rates were a
Published 06 Dec, 2015 12:00am
US Midwest corn, soya bids steady to mixed

US Midwest corn, soya bids steady to mixed

Spot basis bids for corn and soyabeans were steady to narrowly mixed at processors and elevators around the US Midwest on Thursday. Country movement of both commodities was spotty, with some growers taking advantage of a futures market rally to book sales
Published 06 Dec, 2015 12:00am
Indian soyabean falls for fifth session

Indian soyabean falls for fifth session

Indian soyabean futures fell for a fifth straight session on Thursday as poor demand due to fears of an imposition of higher cap on stocks maintained by dealers and millers continued to weigh on sentiment. The western state of Maharashtra, a leading produ
Published 06 Dec, 2015 12:00am
CBOT wheat futures rise

CBOT wheat futures rise

Wheat futures on the Chicago Board of Trade rose on Thursday for the first time in seven sessions and bounced back from multiyear lows as a tumble in the US dollar lifted grains and other commodities such as gold and crude oil, traders said. K.C. hard red
Published 06 Dec, 2015 12:00am
EU wheat prices fall on euro surge

EU wheat prices fall on euro surge

European wheat prices dipped on Thursday, pressured by a surge in the euro against the dollar that hurt its competitiveness on world export markets, and shrugging off a hefty volume of export licences granted this week. March milling wheat, the new-crop b
Published 06 Dec, 2015 12:00am
Freight rates for capesize bulk carriers to hold current levels

Freight rates for capesize bulk carriers to hold current levels

Freight rates for capesize bulk carriers could nudge lower or hold around current levels next week, coming under pressure from low bunker prices, excess tonnage and weak cargo volumes, brokers said. "Owners are struggling. The sentiment for the end of thi
Published 06 Dec, 2015 12:00am
Brazil's soya traders to renegotiate Monsanto royalty deals

Brazil's soya traders to renegotiate Monsanto royalty deals

Soyabean trading firms in Brazil will have to renegotiate agreements to collect royalties for seed giant Monsanto Co on genetically modified soyabeans bought from farmers, the president of industry association Abiove said on Wednesday. Monsanto's demands
Published 06 Dec, 2015 12:00am
US FOB Gulf soyabeans premiums mostly steady

US FOB Gulf soyabeans premiums mostly steady

Export premiums for soyabeans shipped from the US Gulf Coast were mostly steady on Thursday, underpinned by demand from China for near-term shipments, but capped by competition from South American suppliers early next year, traders said. China has been bo
Published 06 Dec, 2015 12:00am
Asian coffee: Vietnam's premiums widen as demand picks up

Asian coffee: Vietnam's premiums widen as demand picks up

All eyes were on Vietnam's coffee market this week as the harvest was peaking and premiums to global prices rose, while supply thinned out in Indonesia, traders said on Thursday. The harvest in Vietnam, the world's largest robusta producer, has entered it
Published 06 Dec, 2015 12:00am
US natural gas futures little changed on steady mild forecasts

US natural gas futures little changed on steady mild forecasts

US natural gas futures were little changed on Thursday on continuing forecasts for weak heating demand amid unusually mild weather and a storage draw within market expectations. Front-month gas futures on the New York Mercantile Exchange closed up 1.6 cen
Published 06 Dec, 2015 12:00am
Argentine corn planting area higher by 10 percent

Argentine corn planting area higher by 10 percent

Argentina's farmers are racing to plant more corn now a new farm-friendly government is taking power, increasing the area planted by 10 percent over previous estimates, and making more exports likely from one of the world's biggest suppliers.
Published 06 Dec, 2015 12:00am
Speculators boost raw sugar net long position to record high
Cotton

Speculators boost raw sugar net long position to record high

Speculators boosted their net long position in raw sugar on ICE Futures US to a record high in the week ended December 1, while they trimmed their net short in arabica coffee contracts, US Commodity Futures Trading Commission data showed on Friday. The no
Published 06 Dec, 2015 12:00am
In Brazil, farm barter is back - and bigger than ever
Currency

In Brazil, farm barter is back - and bigger than ever

Across Brazil's farm belt, barter trade is making a comeback as tightening credit, falling crop prices and a volatile currency open a multi-billion dollar business to merchants and tractor makers. With an era of cheap government farm credit ending as Braz
Published 06 Dec, 2015 12:00am
New Abu Dhabi rice mill to start operations in Q2 2016

New Abu Dhabi rice mill to start operations in Q2 2016

A rice mill with a production capacity of 80,000 tonnes a year will start operations in Abu Dhabi in the second quarter of 2016, a senior executive said on Sunday. The Al Dahra Kohinoor LLC facility, a joint venture between Abu Dhabi's agribusiness firm A
Published 06 Dec, 2015 12:00am
Metals fund Orion Resources sees more pain for copper, gold

Metals fund Orion Resources sees more pain for copper, gold

Copper and gold are set for more price weakness as bear markets across the commodities sector are likely to last three more years, metals and mining fund Orion Resources said on Tuesday. "We are going to see a pretty broad cross-commodity leg down, where
Published 06 Dec, 2015 12:00am
Tumbling zinc prices hit corner of rural Ireland

Tumbling zinc prices hit corner of rural Ireland

Ireland is feeling the strain as Europe's largest producer of zinc with global prices for the metal plummeting due to an economic slowdown in China and surplus supply on world markets. The country's second largest mine is shutting down with the loss of 37
Published 06 Dec, 2015 12:00am
New Zealand commodity prices fall in November

New Zealand commodity prices fall in November

Prices for New Zealand's main commodities fell in November due to lower dairy prices and weak demand from China, ANZ Bank's commodity price index showed on Friday. The index was down 5.6 percent for the month, almost wiping out the 7.1 percent gain in the
Published 06 Dec, 2015 12:00am
Larger global cotton deficit seen as China output falls
Cotton

Larger global cotton deficit seen as China output falls

A sharper-than-expected drop in production in China will increase an anticipated drawdown in global cotton inventories in the 2015/16 season, analysts Cotton Outlook (Cotlook) said in a report on Monday. Cotlook forecast cotton inventories would fall by 9
Published 06 Dec, 2015 12:00am
Cotton hits over three-month high
Cotton

Cotton hits over three-month high

Cotton futures rose to their highest levels in more than three months on Friday as signals mounted that poor harvest weather in top-producing state Texas had harmed crop yield and quality. A weekly US Department of Agriculture report showed just 56.4 perc
Published 06 Dec, 2015 12:00am
ABN Amro maintains negative gold outlook for 2016

ABN Amro maintains negative gold outlook for 2016

ABN Amro on Tuesday maintained its negative outlook for gold prices in 2016, mainly on expectations the US Federal Reserve would slowly raise rates into next year. "It is likely that new lows in (gold) prices will be reached before the end of the first qu
Published 06 Dec, 2015 12:00am
Better weather boosts Canada's wheat, canola crops more than expected

Better weather boosts Canada's wheat, canola crops more than expected

Canada produced more wheat and canola than expected, as dry weather gave way to crucial rains later in summer, Statistics Canada said on Friday in its final 2015 crop report. After the report, traders drove down ICE Canada January canola futures 1 percent
Published 06 Dec, 2015 12:00am
EU sees fall in soft wheat exports next season, then stable to 2025

EU sees fall in soft wheat exports next season, then stable to 2025

Soft wheat exports from the European Union should fall next season but then remain stable at a relatively strong level until the end of the 2015-2025 period, the European Commission said on Wednesday. In data released at the EU Agricultural Outlook Confer
Published 06 Dec, 2015 12:00am
Turkey looks for non-Russian grain as new deals with Moscow are on hold

Turkey looks for non-Russian grain as new deals with Moscow are on hold

Turkey is looking for alternatives to Russian grain after the dispute between Moscow and Ankara over the shooting down of a Russian warplane placed a question mark over future deliveries and put new deals on hold, traders and analysts said. Russia has not
Published 06 Dec, 2015 12:00am
Porsche to launch first electric car by 'end of decade'

Porsche to launch first electric car by 'end of decade'

Porsche said Friday it was pumping in a billion euros to bring its first all electric car to market by "the end of the decade", as the German luxury sportscar giant joined the race for a slice of the green car market. The car dubbed Mission E will boast a
Published 06 Dec, 2015 12:00am
Vietnam sees 2015 robust growth, maps development by 2020

Vietnam sees 2015 robust growth, maps development by 2020

Vietnam's economy is expected to post annual growth of 6.55 percent this year, Prime Minister Nguyen Tan Dung said on Saturday, accelerating from the 5.98 percent growth posted in 2014. Vietnam has projected growth of 6.5 percent to 7 percent a year in th
Published 06 Dec, 2015 12:00am
Bank of England approves capital models for 19 UK insurers

Bank of England approves capital models for 19 UK insurers

British insurers Aviva and Prudential and the Lloyd's of London insurance market were among 19 firms to have their capital calculation models approved by the Bank of England on Saturday, enabling them to lower costs under new rules. Approval means the ins
Published 06 Dec, 2015 12:00am
Colombia to build museum to showcase shipwreck discovery

Colombia to build museum to showcase shipwreck discovery

Colombia will build a museum to showcase artefacts found in the wreckage of a Spanish galleon discovered near the historic Caribbean port city of Cartagena, President Juan Manuel Santos said on Saturday. The San Jose, thought by historians to be laden wit
Published 06 Dec, 2015 12:00am
US blocks Thai Union, Bumble Bee tuna merger

US blocks Thai Union, Bumble Bee tuna merger

The United States has blocked the takeover of Bumble Bee Seafoods by the Thai Union Group, saying their proposed merger would hurt an already highly consolidated canned tuna market. The US Justice Department, in a statement late Thursday, said that Thai U
Published 06 Dec, 2015 12:00am
Bloomberg says investors pricing in climate risk

Bloomberg says investors pricing in climate risk

Global investors are increasingly pricing in the risk of climate change, US billionaire Michael Bloomberg told AFP on Saturday after taking charge of a task force to bring greater clarity to the financial implications of a warming world. Climate experts w
Published 06 Dec, 2015 12:00am
32 workers die after fire on Azeri oil platform

32 workers die after fire on Azeri oil platform

Thirty-two workers have died after an offshore oil platform operated by Azerbaijan's state energy company SOCAR caught fire in the Caspian Sea, the head of an independent committee said on Saturday. SOCAR declined repeated requests for comment from Reuter
Published 06 Dec, 2015 12:00am
Turkey seeks alternatives to Russian energy

Turkey seeks alternatives to Russian energy

Turkey on Saturday said it was seeking alternatives to Russian energy as relations with Moscow plunge over the downing of a warplane, with President Recep Tayyip Erdogan vowing his country will "not collapse" under sanctions. Moscow has imposed a series o
Published 06 Dec, 2015 12:00am
Egypt's GDP growth rises to 4.2 percent

Egypt's GDP growth rises to 4.2 percent

Egypt's economy grew 4.2 percent in the 2014/2015 fiscal year, up from 2.2 percent growth during the previous year, the country's planning minister said on Saturday. Total GDP for fiscal year 2014/2015, which ended in June, was 2.4 trillion Egyptian pound
Published 06 Dec, 2015 12:00am
Global business growth accelerated in November: PMI

Global business growth accelerated in November: PMI

Global business growth accelerated last month as new orders picked up despite firms raising prices at the steepest rate since July, a survey showed. J.P. Morgan's Global All-Industry Output Index, produced with Markit, rose to 53.7 in November from Octobe
Published 06 Dec, 2015 12:00am
ECB lowered stimulus ambitions after hitting opposition

ECB lowered stimulus ambitions after hitting opposition

Hints by Mario Draghi ahead of last Thursday's ECB rate meeting that the euro zone may need another big injection of money backfired, stiffening the resolve of more conservative central bankers who criticised him for raising expectations too high, sources
Published 06 Dec, 2015 12:00am
Modi says India to look at restructuring state-run firms

Modi says India to look at restructuring state-run firms

India will consider restructuring its beleaguered state-run firms, in preference to divestments or outright shutdowns, by taking steps to change the work culture of their employees, Prime Minister Narendra Modi said on Friday. Modi's government is focusin
Published 06 Dec, 2015 12:00am
Tanzania secures $346.9 million loan for roads from the AfDB

Tanzania secures $346.9 million loan for roads from the AfDB

Tanzania has signed a $346.9 million loan with the African Development Bank (AfDB) to build new roads to help transform it into a regional trade and transport hub, the finance ministry said on Saturday. The East African nation wants to profit from its lon
Published 06 Dec, 2015 12:00am
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