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Print - 2015-12-22
Senate panel voices concern over ECP performance

Senate panel voices concern over ECP performance

Senate Standing Committee on Parliamentary Affairs has raised serious concerns over performance of the Election Commission of Pakistan (ECP) and said that there is a need of capacity building of ECP. The ECP said that it does not enjoy any powers to give
Published 22 Dec, 2015 12:00am
Baffa hospital, school China to provide Rs 94 million additional funds

Baffa hospital, school China to provide Rs 94 million additional funds

The Chinese government will provide Rs 94 million additional funds to Earthquake Reconstruction, Rehabilitation Authority (Erra) to equip Baffa Tehsil Headquarters Hospital with modern facilities and up-gradation of Government Higher Secondary School Baff
Published 22 Dec, 2015 12:00am
Scholars urged to promote Pakhtun's culture

Scholars urged to promote Pakhtun's culture

Qaumi Watan Party Provincial Chairman and KP Senior Minister Sikandar Hayat Khan Sherpao urged scholars and writers to utilise maximum potential for the promotion and publication of Pakhtuns culture and language. The senior minister expressed these remark
Published 22 Dec, 2015 12:00am
Corruption charges: NAB arrests two revenue officials

Corruption charges: NAB arrests two revenue officials

National Accountability Bureau (NAB) Khyber Pakhtunkhwa on Monday arrested accused Tehsildar and Patwari of D I Khan for alleged involvement in corruption and misuse of authority in illegal transfer of valuable state land measuring 1976 Kanals situated in
Published 22 Dec, 2015 12:00am
PFMA hails SHC's decision

PFMA hails SHC's decision

The Pakistan Flour Mills Association (PFMA) in the Punjab has welcomed a decision by the Sindh High Court (SHC) suspending a ban slapped by the Sindh government on transportation of wheat and wheat products. Association Chairman Chaudhry Iftikhar Mattoo s
Published 22 Dec, 2015 12:00am
Ministry to upload area-wise power load-shedding scheme

Ministry to upload area-wise power load-shedding scheme

Ministry of Water and Power has decided to upload area-wise power loadshedding scheme on the website of the Ministry along with details of theft and losses from February 2016, aimed at making loadshedding more transparent. In an exclusive chat with Bus
Published 22 Dec, 2015 12:00am
Government's fight against terror acknowledgement by Imran praised

Government's fight against terror acknowledgement by Imran praised

Federal Minister for Information and Broadcasting Pervez Rashid on Monday said that Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan had also admitted the efforts of ruling Pakistan Muslim League-Nawaz (PML-N) government to curb terrorism from the count
Published 22 Dec, 2015 12:00am
Different undertakings: CCP imposes over Rs 26 billion penalties

Different undertakings: CCP imposes over Rs 26 billion penalties

The Competition Commission of Pakistan (CCP) has imposed total penalties of over 26 billion rupees on different undertakings for various violations of the Competition Law since 2007, aimed at protecting consumers from anti-competitive practices and restor
Published 22 Dec, 2015 12:00am
Chinese team visits PBIT office

Chinese team visits PBIT office

A 10-member delegation headed by the general manager of the Chinese-state owned construction company visited the office of the Punjab Board of Investment and Trade (PBIT) on Monday to discuss the establishment of a science and technology park in Pakistan.
Published 22 Dec, 2015 12:00am
39 buses loaded with smuggled goods confiscated

39 buses loaded with smuggled goods confiscated

Model Customs Collectorate (MCC), Quetta on Monday claimed to have confiscated 39 buses loaded with smuggled goods worth Rs 150 million. According to official sources, the action was taken on a secret information, which revealed that some unscrupulous ele
Published 22 Dec, 2015 12:00am
78kgs of narcotics worth Rs 4.68 million seized

78kgs of narcotics worth Rs 4.68 million seized

Model Customs Collectorate (MCC) Gwadar on Monday claimed to have seized 78 kilograms of foreign origin narcotics worth Rs 4.68 million. According to details, action was taken on a tip-off received from Saeed Akram, Collector of Customs that huge cache of
Published 22 Dec, 2015 12:00am
Protest held against LUH management

Protest held against LUH management

Pakistan Paramedical Staff Association (PPSA) Liaquat University Hospital (LUH) Hyderabad and Jamshoro on Monday staged a sit-in protest against management of LUH. The demonstration led by Abdul Majeed Jatoi and others was organised outside Hyderabad Pres
Published 22 Dec, 2015 12:00am
Spectrum Y&R wins SA Creative Agency of Year Award
Currency

Spectrum Y&R wins SA Creative Agency of Year Award

Spectrum Y&R is pleased to announce that the Agency has once again won the award for Pakistan "Creative Agency of the Year" - for the third year running. The award was announced by Campaign South Asia Agency of the Year at an awards ceremony held in Mumba
Published 22 Dec, 2015 12:00am
PAS elects new council, office-bearers

PAS elects new council, office-bearers

Pakistan Advertisers Society (PAS) held its 18th Annual General Body Meeting on Friday, December 11, 2015 in Karachi. The AGM was attended by all the major advertisers of Pakistan. Some of the important industry issues were discussed and the agenda for 20
Published 22 Dec, 2015 12:00am
Mansoor Karim appointed Interflow Pakistan CEO

Mansoor Karim appointed Interflow Pakistan CEO

Mansoor Karim Shaikh has been appointed as CEO of Pakistan's largest adverting agency Interflow Communications. Speaking at the Head Office in Karachi, Mansoor said he is excited to lead the agency's operation spanning the country and bring forth his visi
Published 22 Dec, 2015 12:00am
NCCPL launches new website

NCCPL launches new website

National Clearing Company of Pakistan Limited (NCCPL) has launched its new corporate website in view of the growing need of being digitally strong and to cater to demands of various stakeholders. The www.nccpl.com.pk, the NCCPL said, had enhanced features
Published 22 Dec, 2015 12:00am
Xoom Corporation a new addition to NBP tie-up

Xoom Corporation a new addition to NBP tie-up

National Bank of Pakistan (NBP) and Xoom Corporation formally shared the documents for finalising agreement to enter Xoom as another important tie-up of NBP. The sharing agreement documents ceremony was held at NBP Head office. This new addition in NBP ti
Published 22 Dec, 2015 12:00am
Dolmen Shopping Festival 2015 begins

Dolmen Shopping Festival 2015 begins

Dolmen group - the pioneer of shopping malls in Pakistan has become Karachi's Premier Shopping Destination - is pleased to announce the Dolmen Shopping Festival 2015, taking place from December 18 to January 3, 2016. This annual celebration is the biggest
Published 22 Dec, 2015 12:00am
One terrorist killed in Dalbandin

One terrorist killed in Dalbandin

Frontier Corps (FC) and intelligence agencies in a joint operation in Balochistan on Monday killed one terrorist and recovered huge cache of weapons from Pak-Afghan border city of Dalbandin. According to details, this operation was carried out on a tip-of
Published 22 Dec, 2015 12:00am
Cherat Packaging Limited (CPPL)

Cherat Packaging Limited (CPPL)

Cherat Packaging Limited (CPPL) was established in 1991 and has been recognised as the leading manufacturer of premium quality cement sacks in Pakistan. It is a Ghulam Faruque Group (GFG) company which operates dual lines of business for Kraft paper and P
Published 22 Dec, 2015 12:00am
Cherat Packaging Limited (CPPL)

Cherat Packaging Limited (CPPL)

Cherat Packaging Limited (CPPL) was established in 1991 and has been recognised as the leading manufacturer of premium quality cement sacks in Pakistan. It is a Ghulam Faruque Group (GFG) company which operates dual lines of business for Kraft paper and P
Published 22 Dec, 2015 12:00am
Desi Chickpeas tender fails to attract bidder

Desi Chickpeas tender fails to attract bidder

Trading Corporation of Pakistan's (TCP) third international tender for the import of Desi Chickpeas once again failed to attract bidders as none of the suppliers participated in the bidding process. The Economic Co-ordination Committee (ECC) of the Cabine
Published 22 Dec, 2015 12:00am
SC restrains chief settlement commissioner, others from work

SC restrains chief settlement commissioner, others from work

The Supreme Court has stopped the chief settlement commissioner, the deputy and assistant settlement commissioners of the Revenue Department from carrying on with their work since a settlement law has been repealed. The two-member bench headed by Justice
Published 22 Dec, 2015 12:00am
'Two regional blood centres to be inaugurated soon'

'Two regional blood centres to be inaugurated soon'

Regional blood centres are being set up as are two more in Multan and Bahawalpur which are expected to be inaugurated soon. The announcement was from Advisor on Health Khawaja Salman Rafique who on Monday chaired a meeting of the committee set up by the c
Published 22 Dec, 2015 12:00am
No possibility of Governor's rule: Ahsan

No possibility of Governor's rule: Ahsan

Federal Minister for Planning and Development Ahsan Iqbal has said that there is no possibility of imposition of Governor Rule in Karachi. In a private TV interview, the minister said that Rangers and other law enforcement agencies have been doing their b
Published 22 Dec, 2015 12:00am
Bail plea of pilot: LHC issues notices to CAA

Bail plea of pilot: LHC issues notices to CAA

A division bench of the Lahore High Court has issued notices to the Civil Aviation Authority (CAA) and the Sarwar Road police in connection with a bail petition of a Shaheen Airline pilot facing charges of crash-landing under the influence of alcohol.
Published 22 Dec, 2015 12:00am
DG Rangers assures traders: operation will continue for greater peace

DG Rangers assures traders: operation will continue for greater peace

Rangers Director General (DG) Major General Bilal Akbar on Monday assured traders of continuation of operation for peace. A seven-member delegation of All Karachi Traders Union led by Atiq Mir held a meeting with the Rangers DG and informed him about its
Published 22 Dec, 2015 12:00am
PVTC, SEDP agree to offer IT training to 7,000 youths

PVTC, SEDP agree to offer IT training to 7,000 youths

The Punjab Vocational Training Council and the Schools Education Department in the Punjab have sealed an agreement to offer IT training to 7,000 youth and equip them with school labs in their evening classes. The announcement came from the provincial Mini
Published 22 Dec, 2015 12:00am
Islamic State radio show seeks new recruits in Afghanistan

Islamic State radio show seeks new recruits in Afghanistan

Islamic State militants in eastern Afghanistan have taken to the airwaves to win recruits as they try to build strength and replace the Taliban as the leading force in the Islamist insurgency. Officials have been increasingly concerned by the broadcasts,
Published 22 Dec, 2015 12:00am
Pope tells Vatican officials reform will go ahead

Pope tells Vatican officials reform will go ahead

Pope Francis told Vatican administrators on Monday that he intended to press ahead "with firm resolve" to cleanse the Church's bureaucracy which has been rocked by scandals and charges of greed and corruption. In traditional Christmas greetings to the Cur
Published 22 Dec, 2015 12:00am
Afghan Taliban close on new Helmand district

Afghan Taliban close on new Helmand district

Afghan police were holding out against Taliban forces who have surrounded their compound in Sangin, in the southern province of Helmand, on Monday as the militants closed in on another district capital. "Right now there is a heavy fight going on between A
Published 22 Dec, 2015 12:00am
Iran sees Israeli lobby behind US visa waiver changes

Iran sees Israeli lobby behind US visa waiver changes

Iran's foreign ministry said on Monday that Israeli lobbying was behind a new measure passed by the US Congress that will prevent visa-free travel to the United States for people who have visited Iran or hold Iranian nationality. The measure, which Presid
Published 22 Dec, 2015 12:00am
Bangladesh court accepts Rana Plaza murder charge sheet

Bangladesh court accepts Rana Plaza murder charge sheet

A court in Bangladesh agreed on Monday to put on trial several defendants on murder charges over the collapse of the Rana Plaza which killed 1,135 workers, many of them making garments for Western retailers, a court official said. Forty-one defendants in
Published 22 Dec, 2015 12:00am
Indian finance minister sues rival politician for slander

Indian finance minister sues rival politician for slander

India's finance minister sued the Delhi chief minister for 100 million rupees ($1.51 million) on Monday for slander, escalating a battle between the ruling party and the opposition that has stalled key reform legislation in parliament. Finance Minister Ar
Published 22 Dec, 2015 12:00am
French police detain man over Air France false alarm

French police detain man over Air France false alarm

French border police detained a man on Monday after an Air France plane had to make an emergency landing in Kenya over a suspicious device later found to be harmless, prosecutors said. Air France staff decided late on Saturday to divert the plane to the n
Published 22 Dec, 2015 12:00am
Spain enters political unknown as tough coalition talks beckon

Spain enters political unknown as tough coalition talks beckon

Spain entered the political unknown on Monday after the most fragmented national election in its history, as old and new parties fired the first salvos in coalition talks that are likely to be long and complex. With neither outgoing Prime Minister Mariano
Published 22 Dec, 2015 12:00am
Waste spill buries buildings in southern China, 85 missing

Waste spill buries buildings in southern China, 85 missing

At least 85 people were missing in China on Monday a day after a giant flow of mud and construction waste spewed out of an overfull dump in a boomtown and buried 33 buildings in its latest industrial disaster. The site should have been closed in February,
Published 22 Dec, 2015 12:00am
Swedish railway stops Denmark service over refugee ID checks

Swedish railway stops Denmark service over refugee ID checks

Sweden's state-owned railway operator SJ said on Monday it would halt its passenger services to and from Denmark because it was unable to carry out the identity checks demanded by the government to stem an influx of refugees.
Published 22 Dec, 2015 12:00am
Trump calls Clinton 'liar' for IS recruiting claim

Trump calls Clinton 'liar' for IS recruiting claim

US Republican presidential candidate Donald Trump said on Sunday that Democrat Hillary Clinton was a "liar" for claiming that his proposal to ban entry of all foreign Muslims to the United States has aided Islamic State's propaganda efforts.
Published 22 Dec, 2015 12:00am
US Republican Lindsey Graham drops out of 2016 presidential race

US Republican Lindsey Graham drops out of 2016 presidential race

US Senator Lindsey Graham, a respected conservative voice on defence and foreign policy issues, dropped out of the 2016 Republican presidential race on Monday after months of barely registering in opinion polls. Graham struggled to gain traction in a crow
Published 22 Dec, 2015 12:00am
Somali militants kill two in bus attack

Somali militants kill two in bus attack

Somali militants killed two people in Kenya's north-eastern Mandera county on Monday when they sprayed their bus with bullets, Kenyan police and a spokesman for the al Shabaab rebel group said. The attack comes about a year after al Shabaab gunmen stormed
Published 22 Dec, 2015 12:00am
West Indies spinner Bishoo in frame for Melbourne start

West Indies spinner Bishoo in frame for Melbourne start

West Indies are considering a recall for leg-spinner Devendra Bishoo as they look to fight their way back into the series in the second test against Australia later this week. The tourists' bowlers were flogged to all parts of the Bellerive Oval during th
Published 22 Dec, 2015 12:00am
Wapda launches new initiative to improve fielding standard in cricket

Wapda launches new initiative to improve fielding standard in cricket

As part of its corporate social responsibility (CSR), the Pakistan Water and Power Development Authority (Wapda) has launched a new initiative in sports - T-12 Cricket - in a bid to improve standard of fielding in cricket of Pakistan. For the purpose, Wap
Published 22 Dec, 2015 12:00am
King Kane keeps it simple in record year

King Kane keeps it simple in record year

New Zealand captain Brendon McCullum called him 'The King' but Kane Williamson swatted aside the praise after his record-breaking century capped a five-wicket victory in the second test against Sri Lanka on Monday. Williamson, who was dismissed for one in
Published 22 Dec, 2015 12:00am
Tons for Cook, Root as Hales boosts test hopes

Tons for Cook, Root as Hales boosts test hopes

Alastair Cook and Joe Root scored centuries and Alex Hales a timely knock of 56 as England piled on the runs against South Africa A in their last warm-up game before the first test. Cook reminded the hosts of his ability with a solid knock of 126, bringin
Published 22 Dec, 2015 12:00am
I was sent back due to incomplete travel documents, Dean Jones

I was sent back due to incomplete travel documents, Dean Jones

Former Australian test cricketer, Dean Jones said on Monday that Pakistani immigration authorities sent him back to Duabi due to incomplete travel documents and he was not deported. "With the help of Pakistan mission in Dubai I completed my documents and
Published 22 Dec, 2015 12:00am
Players must respond to Hiddink, says grateful Ivanovic

Players must respond to Hiddink, says grateful Ivanovic

Chelsea defender Branislav Ivanovic welcomed interim manager Guus Hiddink back to the club on Monday but warned his team-mates that they bear the responsibility for results. The Serbian full back is one of few players, along with John Terry and John Obi M
Published 22 Dec, 2015 12:00am
Gayle, Pietersen among HBL PSL stars

Gayle, Pietersen among HBL PSL stars

The much-awaited HBL Pakistan Super League Player Draft took place here at the National Cricket Academy Monday, with all five franchises picking nine players each on day one. Having opted for a draft in place of an auction in order to ensure better compet
Published 22 Dec, 2015 12:00am
Wapda chairman favours Salman's, Asif's return to competitive cricket

Wapda chairman favours Salman's, Asif's return to competitive cricket

While the Pakistani cricket fraternity is still divided over return of International Cricket Council (ICC)'s punished cricketers Salman Butt, Mohammad Asif into cricket arena, Water and Power Development Authority (Wapda) Chairman Zafar Mehmood supports r
Published 22 Dec, 2015 12:00am
Blatter vows 'I'll be back'

Blatter vows 'I'll be back'

He was introduced as "the elected president of FIFA" but the Sepp Blatter who sat in front of reporters on Monday, shortly after receiving an eight-year ban from soccer, appeared very different to the confident man who had led the sport's global governing
Published 22 Dec, 2015 12:00am
Platini slams FIFA ban as 'masquerade'

Platini slams FIFA ban as 'masquerade'

The head of European soccer, Michel Platini, vowed on Monday to go to court to fight a decision by the independent Ethics Committee of the world football body FIFA to ban him for eight years, calling it a "pure masquerade". Platini and Sepp Blatter, the f
Published 22 Dec, 2015 12:00am
China's yuan inches up on firmer midpoint
Currency

China's yuan inches up on firmer midpoint

China's yuan edged up against the dollar on Monday after the central bank set stronger guidance via its daily midpoint, snapping 10 weaker fixes in a row. The stronger fix softened traders' bearish views that the yuan was headed to 6.50 per dollar in the
Published 22 Dec, 2015 12:00am
Sri Lankan rupee steady in dull trade
Currency

Sri Lankan rupee steady in dull trade

The Sri Lankan rupee ended steady on Monday amid lacklustre trading as many investors stayed away in a holiday-shortened week, currency dealers said. The currency has been on a downward trend in the whole of 2015 and the fall has been steep since the cent
Published 22 Dec, 2015 12:00am
Rupiah leads gains in Asia FX; ringgit slips
Currency

Rupiah leads gains in Asia FX; ringgit slips

The Indonesian rupiah led gains in emerging Asian currencies on Monday, underpinned by suspected inflows into Indonesian bonds, while weak oil prices dented the Malaysian ringgit. The rupiah, the second-worst performing emerging Asian currency this year,
Published 22 Dec, 2015 12:00am
South Africa's rand consolidates gains, gold lifts stocks

South Africa's rand consolidates gains, gold lifts stocks

South Africa's rand firmed on Monday in thin holiday season trade, extending modest gains notched up since calm returned to markets after the fallout over the hiring and firing of finance ministers last week. Stocks also benefited from the calmer mood, wi
Published 22 Dec, 2015 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 78.65-78.68 (previous 78.70-78.70). 01.50-04.50 percent (* Previous 01.50-04.50 percent.
Published 22 Dec, 2015 12:00am
Euro rides out Spanish election result
Currency

Euro rides out Spanish election result

An election result that may spark unease over Spain's financial stability did little to weaken the euro on Monday, while China's yuan was fixed stronger by authorities for the first time in two weeks. The dollar index was flat and dealers said currency ma
Published 22 Dec, 2015 12:00am
Dollar adrift in a sea of central bank uncertainty

Dollar adrift in a sea of central bank uncertainty

The dollar drifted lower in light Asian trading on Monday amid doubts about how far and fast the Federal Reserve would raise US interest rates next year. The dollar eased to 121.20 yen and further away from Friday's brief peak of 123.59. The euro edged up
Published 22 Dec, 2015 12:00am
Australian, New Zealand dollars trapped by holiday lull

Australian, New Zealand dollars trapped by holiday lull

The Australian and New Zealand dollars struggled for momentum on Monday as traders were reluctant to make any significant moves in a holiday-heavy week. The Australian dollar held at $0.7155, having met a wall of sellers ahead of 72 US cents. It touched a
Published 22 Dec, 2015 12:00am
Iraq central bank devalues dinar as oil prices hurt income
Currency

Iraq central bank devalues dinar as oil prices hurt income

Iraq's central bank has increased the sale price of US dollars to banks and currency exchange companies by 16 dinars, or 1.37 percent, as the government seeks to compensate a decline in oil revenue, a government official and the central bank said. The sal
Published 22 Dec, 2015 12:00am
European stocks hit by pain in Spain

European stocks hit by pain in Spain

European shares fell on Monday, giving up their earlier gains as losses in Spain and a rise in the euro weighed on the region's stock markets. The pan-European FTSEurofirst 300 index ended down 1.2 percent, while the euro zone's bluechip Euro STOXX 50 als
Published 22 Dec, 2015 12:00am
Australian shares flat as investors swoop on bargains

Australian shares flat as investors swoop on bargains

Australian shares ended flat on Monday as gains from bargain hunting were curtailed by weakness in the prices of key commodities such as oil and iron ore. After opening in negative territory, the S&P/ASX 200 index recovered to close up 2.3 points at 5,109
Published 22 Dec, 2015 12:00am
China's bluechip index jumps to 4-month high inspired by Vanke

China's bluechip index jumps to 4-month high inspired by Vanke

China's bluechip CSI300 index jumped to a four-month high on Monday, led by broad rallies in real estate, banking and consumer plays as investors scooped up modestly-priced big caps. CSI300, which tracks the largest listed companies in Shanghai and Shenzh
Published 22 Dec, 2015 12:00am
Hong Kong stocks firm, buoyed by mainland companies

Hong Kong stocks firm, buoyed by mainland companies

Hong Kong stocks were firm on Monday, bolstered by Chinese companies, as strength in the Chinese equity market helped investors shrug off the gloom in US and European stocks in the wake of last week's post-Fed rate hike rally. The Hang Seng index rose 0.2
Published 22 Dec, 2015 12:00am
Nikkei edges down in thin trade as yen clings to gains on dollar

Nikkei edges down in thin trade as yen clings to gains on dollar

Japanese stocks edged down in thin trading on Monday after the yen gained against the dollar, putting pressure on exporters after the Bank of Japan disappointed markets with minor adjustments to its massive stimulus programme. The Nikkei share average fel
Published 22 Dec, 2015 12:00am
Yields little changed on caution ahead of year-end

Yields little changed on caution ahead of year-end

US Treasury yields were little changed on Monday on hesitation to make major bets in thin year-end trading conditions and as attention generally shifted away from the timing of the Federal Reserve's next rate hike. Traders were cautious about making signi
Published 22 Dec, 2015 12:00am
Yields little changed on caution ahead of year-end

Yields little changed on caution ahead of year-end

US Treasury yields were little changed on Monday on hesitation to make major bets in thin year-end trading conditions and as attention generally shifted away from the timing of the Federal Reserve's next rate hike. Traders were cautious about making signi
Published 22 Dec, 2015 12:00am
South Korean shares close higher as brokerages and banks rise

South Korean shares close higher as brokerages and banks rise

Seoul shares edged up on Monday, led by broad rally in brokerages and banking stocks and helped by institutional buying. The Korea Composite Stock Price Index (KOSPI) ended up 0.3 percent at 1,981.19. The sub-index for security stocks rose 3.7 percent. Fo
Published 22 Dec, 2015 12:00am
Wall Street higher on financials; Brent slides

Wall Street higher on financials; Brent slides

Financial stocks led a cheerful start to the Christmas holiday week for the US stock markets, rebounding from two days of losses, with investors taking in stride a slide in crude prices. Trading volumes are expected to be relatively light this week, with
Published 22 Dec, 2015 12:00am
Indian stocks rise with Asian counterparts; domestic funds buy

Indian stocks rise with Asian counterparts; domestic funds buy

Indian stocks rose on Monday along with their Asian counterparts while aggressive buying by domestic funds also lent support to the market. Local shares benefited from renewed investor risk appetite with markets seemed more sure-footed as months of uncert
Published 22 Dec, 2015 12:00am
Sri Lankan shares little changed, turnover slumps to 5-month low

Sri Lankan shares little changed, turnover slumps to 5-month low

Sri Lankan shares ended little changed in thin trading on Monday as investors kept to the sidelines ahead of holidays later in the week. Turnover dropped to the lowest since July 21 at 360.6 million rupees ($2.51 million), against this year's daily averag
Published 22 Dec, 2015 12:00am
Dubai jumps, Saudi flat ahead of budget

Dubai jumps, Saudi flat ahead of budget

Middle Eastern stock markets were mixed on Monday as Dubai bounced back from the previous day's losses while Saudi Arabia's index was almost unchanged as investors awaited the release of the kingdom's state budget, expected in the coming days. The Saudi i
Published 22 Dec, 2015 12:00am
EU prolongs economic sanctions on Russia until mid-2016

EU prolongs economic sanctions on Russia until mid-2016

The European Union on Monday extended its economic sanctions against Russia over the conflict in Ukraine until the end of next July, drawing a swift rebuke from the Russian economy minister. The EU has linked the lifting of the sanctions to full implement
Published 22 Dec, 2015 12:00am
Ericsson signs patent deal with Apple

Ericsson signs patent deal with Apple

Swedish mobile telecom gear maker Ericsson said it had signed a patent licence deal with Apple Inc over technology that helps smartphones and tablets connect to mobile networks, sending its shares up much as 8 percent. The deal ends a year-long dispute wi
Published 22 Dec, 2015 12:00am
Cuban economy grows 4 percent in year of detente with US
Currency

Cuban economy grows 4 percent in year of detente with US

Cuban gross domestic product grew 4 percent in 2015, official media reported on Monday, as internal reforms overshadowed negative trends such as falling commodity prices. The report did not refer to warming relations with the United States, instead mentio
Published 22 Dec, 2015 12:00am
India introduces bill for bankruptcy law in parliament

India introduces bill for bankruptcy law in parliament

The Indian government on Monday introduced a bill in parliament aimed at bringing sweeping changes to an outdated and overburdened bankruptcy system, setting deadlines for the first time for processing insolvency cases. At present, Asia's third-largest ec
Published 22 Dec, 2015 12:00am
J.P Morgan to pay $150 million in 'London Whale' US class action

J.P Morgan to pay $150 million in 'London Whale' US class action

J.P. Morgan Chase & Co has agreed to pay $150 million to resolve a securities fraud lawsuit by investors suing the bank over its "London Whale" trading scandal, which caused a $6.2 billion loss. The settlement was disclosed in papers filed on Friday in fe
Published 22 Dec, 2015 12:00am
J.P Morgan to pay $150 million in 'London Whale' US class action

J.P Morgan to pay $150 million in 'London Whale' US class action

J.P. Morgan Chase & Co has agreed to pay $150 million to resolve a securities fraud lawsuit by investors suing the bank over its "London Whale" trading scandal, which caused a $6.2 billion loss. The settlement was disclosed in papers filed on Friday in fe
Published 22 Dec, 2015 12:00am
China pledges policy support to economy, reform in 2016

China pledges policy support to economy, reform in 2016

China will make its monetary policy more flexible and expand its budget deficit in 2016 to support a slowing economy, state media said on Monday, citing top leaders who wrapped up an important meeting and vowed to push forward "supply-side reform". The an
Published 22 Dec, 2015 12:00am
Toshiba to cut 7,000 jobs in PC and TV units, sees FY loss

Toshiba to cut 7,000 jobs in PC and TV units, sees FY loss

Japan's Toshiba Corp said on Monday it will cut nearly 7,000 consumer electronics jobs after a $1.3 billion accounting scandal, in an overhaul that will streamline the sprawling conglomerate into a company focused on chips and nuclear energy. Toshiba also
Published 22 Dec, 2015 12:00am
Toshiba to cut 7,000 jobs in PC and TV units, sees FY loss

Toshiba to cut 7,000 jobs in PC and TV units, sees FY loss

Japan's Toshiba Corp said on Monday it will cut nearly 7,000 consumer electronics jobs after a $1.3 billion accounting scandal, in an overhaul that will streamline the sprawling conglomerate into a company focused on chips and nuclear energy. Toshiba also
Published 22 Dec, 2015 12:00am
Euro zone consumer confidence rises slightly in December

Euro zone consumer confidence rises slightly in December

Euro zone consumer confidence rose ahead of expectations in December, figures released on Monday showed. The European Commission said a flash estimate showed consumer morale in the 19 countries sharing the euro rose to -5.7, ahead of the -5.85 expected on
Published 22 Dec, 2015 12:00am
EU data protection reform may promise more than it delivers

EU data protection reform may promise more than it delivers

Implementing the biggest shake-up to Europe's fragmented data protection laws in two decades may fail to provide companies with the consistency and simplicity that had been promised across the 28-nation bloc. A patchwork of privacy laws in the European Un
Published 22 Dec, 2015 12:00am
UK's Serious Fraud Office to charge 11 over Euribor-rigging
Libor

UK's Serious Fraud Office to charge 11 over Euribor-rigging

Britain's Serious Fraud office said on Monday it would next month charge 11 individuals accused of rigging the Euribor interest benchmark with conspiracy to defraud. In the latest phase of a global investigation into allegations of manipulating benchmark
Published 22 Dec, 2015 12:00am
Taiwan November export orders show ailing demand persisting into 2016

Taiwan November export orders show ailing demand persisting into 2016

Taiwan's export orders fell for the eighth straight month in November, with prospects expected to stay bleak in coming months as the trade-dependent economy grapples with recession. The downtrend in Taiwan's export orders - a leading indicator of demand f
Published 22 Dec, 2015 12:00am
US MIDDAY: cocoa drops to six-week lows
Currency

US MIDDAY: cocoa drops to six-week lows

Cocoa futures on ICE fell to six-week lows on Monday, weighed down by speculative selling in light pre-holiday dealings, while sugar and arabica coffee prices also fell, pressured by the falling Brazilian currency and oil prices. Brent crude oil prices hi
Published 22 Dec, 2015 12:00am
Soybeans and grains turn lower

Soybeans and grains turn lower

Prices for US soybeans and grains dipped on Monday, giving up slight earlier advances, in thin, choppy trade that focused on plentiful global supplies. The markets declined despite favourable weakness in the US dollar and concerns about insufficient rains
Published 22 Dec, 2015 12:00am
Gold up on softer dollar after US data

Gold up on softer dollar after US data

Gold rose almost 1 percent on Monday as weaker than expected US data and uncertainty about how fast the Federal Reserve will tighten interest rates next year weighed on the dollar. A renewed slump in crude oil to its lowest levels since 2004 was seen as c
Published 22 Dec, 2015 12:00am
Gold adds to gains on softer equities

Gold adds to gains on softer equities

Gold edged up on Monday, adding to sharp gains from the previous trading session, as weakness in the dollar and equities helped the metal recoup some losses from a US interest rate hike last week. Concerns that demand for non-interest-paying bullion will
Published 22 Dec, 2015 12:00am
Sugar, arabica fall on oil hitting 11-year low
Currency

Sugar, arabica fall on oil hitting 11-year low

Raw sugar and arabica coffee futures on ICE fell on Monday, undermined by oil prices falling to their lowest in more than 11 years, and a weaker Brazilian currency. Robusta coffee was steadier but was under pressure from an ample harvest in Vietnam and a
Published 22 Dec, 2015 12:00am
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