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Print - 2016-01-14
Oil cake market rates
Cotton

Oil cake market rates

An upward trend was witnessed on the forward cottonseeds oilcake market on Wednesday, dealer said. The January vaida closed at Rs 2050.10, they said. It opened with a gain of 80 paisa at Rs 2050.90, they said. The March vaida ended at Rs 2150.50 and comme
Published 14 Jan, 2016 12:00am
Brazil's December center-south produces 383,000 tonnes of sugar

Brazil's December center-south produces 383,000 tonnes of sugar

Cane mills in Brazil's center-south produced 383,000 tonnes of sugar in the second half of December, up 210 percent from a year ago, as mills try to make up for weeks lost to rain this season, the crushing industry association Unica said on Tuesday.
Published 14 Jan, 2016 12:00am
US natural gas futures fall nearly six percent
Exchange

US natural gas futures fall nearly six percent

US natural gas futures fell almost 6 percent on Tuesday, the biggest decline since late December, on forecasts for less cold weather that is expected to reduce heating demand a bit over the next two weeks. After rising to 12-week high last week, front-mon
Published 14 Jan, 2016 12:00am
EU wheat prices slightly weaker ahead of USDA report

EU wheat prices slightly weaker ahead of USDA report

European wheat prices were unchanged to slightly weaker in light trade on Tuesday in a wait-and-see mode ahead of the release at 1700 GMT of a widely-followed US government report. By 1600 GMT front-month March on Paris-based European milling wheat future
Published 14 Jan, 2016 12:00am
US FOB Gulf soyabean premiums weaker on light demand

US FOB Gulf soyabean premiums weaker on light demand

Export premiums for soyabeans shipped from the US Gulf Coast were steady to weaker on Tuesday, with nearby values underpinned by scattered demand and deferred prices weighed down by competition from South American shipments, traders said. FOB Gulf corn an
Published 14 Jan, 2016 12:00am
Karachi Port's activities

Karachi Port's activities

The Karachi Port handled 148,288 tonnes of cargo comprising 133,039 tonnes of import cargo and 15,249 tonnes of export cargo including 2,378 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday. The total import cargo of
Published 14 Jan, 2016 12:00am
Bangladesh tea prices fall

Bangladesh tea prices fall

Tea prices in Bangladesh fell at the weekly auction on Tuesday, snapping a three-week run of gains due to higher volume of poor grades on offer, but strong demand for quality leaf capped the slide. Bangladeshi tea fetched an average 193.38 taka ($2.44) pe
Published 14 Jan, 2016 12:00am
PCB lifts one-match ban on Umar Akmal

PCB lifts one-match ban on Umar Akmal

Pakistan Cricket Board (PCB) has lifted one-match suspension of middle order batsman Umar Akmal and he (Umar) will be available for the first Twenty20 international against New Zealand to be staged in Auckland on January 15. Umar Akmal was banned for one
Published 14 Jan, 2016 12:00am
Dozens of cars gutted

Dozens of cars gutted

Dozens of cars were reduced to ashes when a fire broke out during auction of unclaimed vehicles here on Wednesday. However, no loss of life was reported in this incident. The blaze erupted suddenly in unclaimed vehicles, mostly scrap cars, in Nazarat near
Published 14 Jan, 2016 12:00am
Sarwar refutes 'wild' rumours

Sarwar refutes 'wild' rumours

The chief organiser of the Pakistan Tehreek-e-Insaf party in the Punjab has rubbished rumours about him quitting the party; claiming, "I am in the party and will remain so. And I do not intend to leave it." Chief Organiser Chaudhary Mohammad Sarwar said i
Published 14 Jan, 2016 12:00am
PHCs, HMBs to manage health service delivery outlets in KP

PHCs, HMBs to manage health service delivery outlets in KP

The provincial government of Khyber Pakhtunkhwa has decided to constitute Primary Healthcare Committees (PHCs) for Basic Health Units (BHUs) and Rural Health Centre (RHCs) and Hospital Management Boards (HMBs) for Tehsil and District Headquarter Hospital
Published 14 Jan, 2016 12:00am
Foreigners plan to invest $3 billion: OICCI tells Prime Minister

Foreigners plan to invest $3 billion: OICCI tells Prime Minister

Foreign investors operating in Pakistan plan to invest around $3 billion over the next few years in the country, Overseas Investors Chamber of Commerce and Industry (OICCI) told Prime Minister Nawaz Sharif on Wednesday. However, the primer was informed th
Published 14 Jan, 2016 12:00am
TV channel attacked; IS claims responsibility

TV channel attacked; IS claims responsibility

Unidentified gunmen Wednesday lobbed a hand grenade and opened fire at the office of a leading television channel in Islamabad, injuring at least one worker, the TV channel reported. ARY TV reported that two gunmen, riding a motorcycle, fled after
Published 14 Jan, 2016 12:00am
SCCI for setting up mini-industrial estates

SCCI for setting up mini-industrial estates

President Sialkot Chamber of Commerce and Industry (SCCI) Major Mansoor Ahmed (Retd) has underscored need for establishing mini-industrial estates in this export-oriented city and hub of cottage industry for accommodating manufacturers and vendors. In an
Published 14 Jan, 2016 12:00am
PFMA Punjab seeks incentives for existing flour units

PFMA Punjab seeks incentives for existing flour units

Pakistan Flour Mills Association (PFMA) Punjab has demanded a ban on setting up of new flour mills saying that present flour milling units have double the grinding capacity than the requirements of next 50 years. Instead of allowing new flour mills, the g
Published 14 Jan, 2016 12:00am
PRGMEA urges government to address all issues to enhance export
Cotton

PRGMEA urges government to address all issues to enhance export

Pakistan Readymade Garment Manufacturers and Exporters Association (PRGMEA) has urged the government to address all issues of value-added textile sector immediately, as the continued drop in exports may widen further due to Vietnam-EU Free Trade Agreement
Published 14 Jan, 2016 12:00am
Swine flu alert issued in Punjab

Swine flu alert issued in Punjab

Health department Punjab has issued a swine flu alert in the province in the backdrop of deaths caused by the disease in Multan, Lahore and Rawalpindi. All major hospitals in Punjab have been asked to get their isolation wards fully functional to cope wit
Published 14 Jan, 2016 12:00am
Punjab Finance Department holds quarterly review of budget

Punjab Finance Department holds quarterly review of budget

Punjab Finance Minister Dr Ayesha Ghaus Pasha presided over the second quarterly (October-December) meeting of Fiscal Monitoring Committee to review the utilisation of released development funds till December 31, 2015. Officers of Health, Irrigation, Tran
Published 14 Jan, 2016 12:00am
SC grants time to Moon Garden's builder to deposit security

SC grants time to Moon Garden's builder to deposit security

Accepting the plea of Moon Garden Karachi's builder Abdul Razak Khamosh on Wednesday, the Supreme Court granted time to deposit amount of Rs 50 million as security in cash and a bank guarantee of the same amount by a week. Earlier, the Supreme Court had s
Published 14 Jan, 2016 12:00am
SIDB KP approves establishment of industrial estate in Swat

SIDB KP approves establishment of industrial estate in Swat

Small Industries Development Board (SIDB), Khyber Pakhtunkhwa has approved the establishment of a small industries estate in Sunglai area of tehsil Barikot, Swat while Khyber Pakhtunkhwa Economic Zone Development and Management Company (KPEZDMC) has also
Published 14 Jan, 2016 12:00am
Integration of bourses will increase liquidity: SECP
Exchange

Integration of bourses will increase liquidity: SECP

The Securities and Exchange Commission of Pakistan (SECP) has said that the integration of stock exchanges will increase liquidity and bring depth in the market which will facilitate government to successfully execute ongoing privatisation deals earmarked
Published 14 Jan, 2016 12:00am
KP power projects: government fails to allocate 100MMCFD gas

KP power projects: government fails to allocate 100MMCFD gas

The government has failed to allocate 100 Million Cubic Feet per Day (MMCFD) of natural gas to two gas based power plants set up by the Khyber Pakhtunkhwa government, officials said. According to official sources in the Ministry of Petroleum and Natural R
Published 14 Jan, 2016 12:00am
PFA grading system appreciated

PFA grading system appreciated

The Punjab Food Authority's latest grading system of restaurants has important implications for owners of commercial properties, says the Lamudi.pk real estate website. The system has five categories to measure health risks. They are labelled A (no risk),
Published 14 Jan, 2016 12:00am
Afghan ambassador claims 80 percent IS fighters came from Pakistan

Afghan ambassador claims 80 percent IS fighters came from Pakistan

Afghan Ambassador to Pakistan Janan Mosazai on Wednesday claimed that 80 percent fighters and leadership of Daesh in Afghanistan came from Pakistan to the country and suggested that the two counties need to co-ordinate efforts to deal with the potential t
Published 14 Jan, 2016 12:00am
Swat Expressway to be completed in two years

Swat Expressway to be completed in two years

Speaker, Khyber Pakhtunkhwa Assembly, Asad Qaiser on Wednesday was told that Swat Expressway would be constructed at the estimated cost of Rs 38 billion in a period of two years. The meeting chaired by Speaker, Khyber Pakhtunkhwa Assembly reviewed progres
Published 14 Jan, 2016 12:00am
Discos, NTDC, Gencos: Pepco, GHCL to be appointed as agents

Discos, NTDC, Gencos: Pepco, GHCL to be appointed as agents

The government is to appoint Pakistan Electric Power Company (Pepco) and Gencos Holding Company Limited (GHCL) as agents of Discos, NTDC and Gencos with oversight powers including monitoring and performance evaluation of power sector, well informed source
Published 14 Jan, 2016 12:00am
Meezan Bank, TPL Direct Insurance enter into strategic alliance

Meezan Bank, TPL Direct Insurance enter into strategic alliance

Meezan Bank, Pakistan's first and largest Islamic bank has announced its strategic alliance with TPL Direct Insurance Limited, Pakistan's first direct insurance, for providing Takaful Coverage of Meezan Bank's Car Ijarah vehicles. The agreement was recent
Published 14 Jan, 2016 12:00am
Political stability crucial to economic development: Ahsan

Political stability crucial to economic development: Ahsan

COMSATS Institute of Information Technology (CIIT) invited the Federal Minister for Planning, Development & Reform Ahsan Iqbal, to deliver a lecture on the 'Development Philosophy of the Government' here at its main campus, while other CIIT campuses were
Published 14 Jan, 2016 12:00am
Fog may grip plains of Punjab, Peshawar divisions

Fog may grip plains of Punjab, Peshawar divisions

Fog is likely to grip plains of Punjab, Peshawar divisions and upper Sindh during night and morning hours, the Met office said on Wednesday. Mainly cold and dry weather is expected in most parts of the country in the next 24 hours. However, rain with snow
Published 14 Jan, 2016 12:00am
Two alleged terrorists killed in encounter

Two alleged terrorists killed in encounter

Police on Wednesday claimed to have killed two alleged criminals of Lyari Gang War (LGW) near Kalakot area of the metropolis. According to police sources, police conducted a search operation on a tip-off in Kalakot. The criminals instead of surrendering t
Published 14 Jan, 2016 12:00am
Regent Plaza launches hi-tea buffet at Jharoka

Regent Plaza launches hi-tea buffet at Jharoka

Regent Plaza Hotel and Convention Center today announced the launch of an extensive hi-tea buffet menu at their all-day dining restaurant, Jharoka. The special Hi-tea Buffet offers an eclectic menu, combining popular continental dishes with Pakistani deli
Published 14 Jan, 2016 12:00am
'Uks Diary 2016' launched

'Uks Diary 2016' launched

Uks-a research, resource & publication center on women and media here on Wednesday launched Uks Diary 2016 under the theme of 'Women of Pakistan: Breaking the Silence on Feminisation of Poverty'. Addressing the launching ceremony of the diary, Director Uk
Published 14 Jan, 2016 12:00am
Dhingra quits Businessmen Panel

Dhingra quits Businessmen Panel

Shakeel Ahmed Dhingra announces to quit Businessmen Panel after 20 years of association. "I joined this panel as a founder member under leadership of Tariq Sayeed, who has retired from business politics last year. Present office-bearers of Businessmen Pan
Published 14 Jan, 2016 12:00am
Agricultural production plays vital role in economy: KP Governor

Agricultural production plays vital role in economy: KP Governor

Khyber Pakhtunkhwa Governor Sardar Mahtab Ahmad Khan has said that agricultural production plays a pivotal role in the economy of Pakistan. He said there is a need to make co-ordinated efforts for providing benefits of research results at doorstep of farm
Published 14 Jan, 2016 12:00am
Court rejects bail pleas of government officials

Court rejects bail pleas of government officials

An Anti-Corruption Court on Wednesday dismissed the bail pleas of Sindh government officials, who are facing the charges of misappropriation and embezzlement of funds. The Medical Superintendent of Sindh Government Hospital, Korangi, Dr Syed Khalid Bukhar
Published 14 Jan, 2016 12:00am
PPP leader for connecting Chitral with CPEC

PPP leader for connecting Chitral with CPEC

Pakistan People's Party (PPP) Chitral leader and former bureaucrat Sultan Wazir Khan has demanded the provincial and federal government to construct mineral processing and development zone and an economic zone in Chitral under the game changer China-Pakis
Published 14 Jan, 2016 12:00am
Default cases of DFIs deferred by parliamentary panel

Default cases of DFIs deferred by parliamentary panel

A parliamentary panel deferred default cases of Development Finance Institutions (DFIs) amounting to Rs 1.149 billion with a directive to pursue recovery vigorously from the defaulters. The sub-committee of Public Accounts Committee (PAC) was held here on
Published 14 Jan, 2016 12:00am
CCP holds seminar at Sukkur CCI

CCP holds seminar at Sukkur CCI

As part of Competition Caravan, the National Road Show on Competition Law, the Competition Commission of Pakistan (CCP) held a seminar at the Sukkur Chamber of Commerce & Industry on Wednesday in which the business community was briefed on the importance
Published 14 Jan, 2016 12:00am
AHAN launches skill enhancement project in KP

AHAN launches skill enhancement project in KP

A new skill enhancement project has been launched for empowering people through active participation in art and cultural activities and to promote economic growth in the country through creative industries. Aik Hunar Aik Nagar (AHAN), a non-profit company
Published 14 Jan, 2016 12:00am
15 Pak university students to visit Japan this month
Exchange

15 Pak university students to visit Japan this month

A delegation of 15 Pakistani university students along with their one supervisor will visit Japan on the invitation by the Government of Japan from January 17 to 27, 2016 under the "Japan-SAARC Network Programme of People to People Exchange (JENESYS). Uni
Published 14 Jan, 2016 12:00am
Further delay in Safe City Project likely

Further delay in Safe City Project likely

A further delay in Safe City Project is likely with relevant officials maintaining that there was no possibility that it will be made operational in less than two months in spite of the directives issued last year by Interior Minister Chaudhry Nisar Ali K
Published 14 Jan, 2016 12:00am
Sindh chief minister orders probe into misuse of government's vehicles

Sindh chief minister orders probe into misuse of government's vehicles

Sindh Chief Minister Syed Qaim Ali Shah has issued directives to the officers to return vehicles of their previous departments within a week, otherwise FIRs would be registered against them. Taking notice of the reports and inquiries that some senior offi
Published 14 Jan, 2016 12:00am
SU providing higher education at doorstep: vice chancellor
Exchange

SU providing higher education at doorstep: vice chancellor

Vice Chancellor, University of Sindh Professor Dr Abida Taherani has said that academic block of the Khan Bahadur Syed Allahando Shah Naushehroferoz Campus of the university would be constructed and Government of Sindh has approved Rs 50 million for it.
Published 14 Jan, 2016 12:00am
Unsanitary conditions: helpless Karachiites turn to self-help

Unsanitary conditions: helpless Karachiites turn to self-help

With the PPP-led Sindh government busy in political bickering over Rangers powers with PML-N dominated centre, Karachiites see no governance whatsoever to address their problems especially pertaining to cleanliness in this metropolis of 200 million. None
Published 14 Jan, 2016 12:00am
PAJCCI team to attend conference, board meeting in Kabul

PAJCCI team to attend conference, board meeting in Kabul

Keeping its legacy of nourishing platform for private sector of both the countries, Pakistan and Afghanistan, PAJCCI Pakistan chapter under the leadership of Chairman Zubair Motiwala, visited Kabul to attend its fourth Annual Conference and Board Meeting.
Published 14 Jan, 2016 12:00am
Structural impediments, security key obstacles to growth: IMF
Exchange

Structural impediments, security key obstacles to growth: IMF

Foreseeing Pakistan's medium term economic growth at 5.5 percent, the IMF said long-standing structural impediments and a difficult security setting remain key obstacles to the country's growth and investment. On December 18, the Executive Board of the In
Published 14 Jan, 2016 12:00am
Structural impediments, security key obstacles to growth: IMF
Exchange

Structural impediments, security key obstacles to growth: IMF

Foreseeing Pakistan's medium term economic growth at 5.5 percent, the IMF said long-standing structural impediments and a difficult security setting remain key obstacles to the country's growth and investment. On December 18, the Executive Board of the In
Published 14 Jan, 2016 12:00am
Issues remained unresolved in 2015: Kati chief

Issues remained unresolved in 2015: Kati chief

President of Korangi Association of Trade and Industry (KATI), Zahid Saeed has said that during 2015, a number of issues including delayed tax returns, withholding tax, energy crises, rising cost of doing business, mounting tax rates and industrial infras
Published 14 Jan, 2016 12:00am
PBA condemns attack

PBA condemns attack

Pakistan Broadcasters Association (PBA) strongly condemns the attack on ARY News Islamabad office. PBA expresses complete solidarity with its member channel ARY Network against this act of violence. PBA terms this act an attempt aimed at cur
Published 14 Jan, 2016 12:00am
'PM to inaugurate Greenline project this month'

'PM to inaugurate Greenline project this month'

Sindh Secretary Transport Tuaha Farooqi has said that Greenline (Metro Bus) project is going to be inaugurated by Prime Minister Nawaz Sharif this month. He was speaking to Business Recorder after the launch ceremony of 'Accessible Cycle Design Cha
Published 14 Jan, 2016 12:00am
PRGMEA urges government to solve industrial sector's problems

PRGMEA urges government to solve industrial sector's problems

Pakistan Readymade Garments Manufacturers and Exporters Association's (PRGMEA) chairman Shaikh Mohammad Shafiq on Wednesday demanded of the government to take drastic measures for enhancing exports as well as for addressing problems of the industrial sect
Published 14 Jan, 2016 12:00am
Atlas Battery Limited

Atlas Battery Limited

Atlas Battery Limited (KSE:ATBA), one of the leading battery makers in the country, commenced operations in 1966 and was among the foremost companies under the Atlas Group umbrella. It produces dozens of products under its popular AGS branding.
Published 14 Jan, 2016 12:00am
Atlas Battery Limited

Atlas Battery Limited

Atlas Battery Limited (KSE:ATBA), one of the leading battery makers in the country, commenced operations in 1966 and was among the foremost companies under the Atlas Group umbrella. It produces dozens of products under its popular AGS branding.
Published 14 Jan, 2016 12:00am
BZU case: LHC seeks NAB record

BZU case: LHC seeks NAB record

The Lahore High Court has told the National Accountability Bureau to present by January 19 the record of a case linked to the establishment of an illegal Lahore campus of the Bahauddin Zakriya University.
Published 14 Jan, 2016 12:00am
APTMA demands imposition of 10 percent RD on yarns, fabrics
Cotton

APTMA demands imposition of 10 percent RD on yarns, fabrics

All Pakistan Textile Mills Association (APTMA) has sought imposition of 10 percent regulatory duty on the import of yarns and fabrics to support the domestic trade. Sources told Business Recorder Wednesday that APTMA has sent a written request to m
Published 14 Jan, 2016 12:00am
VC UVAS opens ITC in Pattoki

VC UVAS opens ITC in Pattoki

The Vice Chancellor of the University of Veterinary and Animal Sciences in Lahore, Professor Doctor Talat Naseer Pasha, on Wednesday opened an Information Technology Centre at the Ravi Campus in Pattoki. This centre is expected to be completed in two year
Published 14 Jan, 2016 12:00am
Collectors told to submit customs-related budget proposals

Collectors told to submit customs-related budget proposals

The Federal Board of Revenue (FBR) has directed Collectors of Customs to submit customs-related budget proposals for 2016-17. The FBR has issued instructions to the Collectors of Customs here Wednesday. The FBR has also sought customs' budget proposals fr
Published 14 Jan, 2016 12:00am
12 dead in Cameroon mosque suicide blast

12 dead in Cameroon mosque suicide blast

A suicide bomber killed 12 worshippers Wednesday at a mosque in northern Cameroon, an area regularly targeted by Nigeria's Boko Haram Islamists, officials said. The blast struck the mosque in the village of Kouyape, in Kolofata district north near the Nig
Published 14 Jan, 2016 12:00am
Fifteen Yemeni civilians killed

Fifteen Yemeni civilians killed

At least 15 Yemeni civilians were killed in an air strike by a Saudi-led military coalition outside the capital, residents said on Wednesday, as prospects for a new round of UN-sponsored talks to end the war in Yemen dimmed. A spokesman for the coalition
Published 14 Jan, 2016 12:00am
Dutch police hack into 'uncrackable' Blackberry

Dutch police hack into 'uncrackable' Blackberry

Dutch police confirmed Wednesday they have found a way to hack into messages on Blackberry data-encrypted smartphones, which claim to be the world's most secure communications devices. The news first leaked in December on a Dutch blog Misdaadnieuws.com wh
Published 14 Jan, 2016 12:00am
Spain's divided parliament convenes at time of political turmoil

Spain's divided parliament convenes at time of political turmoil

Spain's parliament held its first session Wednesday, with lawmakers from four main parties taking their seats at a time of political turmoil, intensified by a resurgent secessionist threat in the Catalonia region. Lawmakers picked a Socialist, Patxi Lopez
Published 14 Jan, 2016 12:00am
France bans three 'radical' Islamic groups

France bans three 'radical' Islamic groups

France has banned three Islamic associations which ran a mosque in the Paris area that was shut down following November's jihadist attacks on the capital, Interior Minister Bernard Cazeneuve said Wednesday. "There is no place in the French Republic for gr
Published 14 Jan, 2016 12:00am
Seven dead in fire at Algeria beach resort

Seven dead in fire at Algeria beach resort

Seven people died after a fire tore through a tourism complex at a beach resort on the outskirts of the Algerian capital on Wednesday, the civil defence service said. The fire erupted around 2:30 am (0130 GMT) at a bungalow in the Azur complex in the beac
Published 14 Jan, 2016 12:00am
India grants Italian marine more time at home in shooting case

India grants Italian marine more time at home in shooting case

India's top court Wednesday granted an Italian marine detained over the killing of two fishermen another three months at home on health grounds in the latest chapter of a legal battle that has caused a diplomatic row. Massimiliano Latorre and his fellow m
Published 14 Jan, 2016 12:00am
British EU deal ready early February: diplomat
Currency

British EU deal ready early February: diplomat

A deal on reforms Britain has demanded to stay in the European Union will be put in writing by early February for EU leaders to discuss later that month, a European diplomat said Wednesday. British Prime Minister David Cameron has said he is reasonably co
Published 14 Jan, 2016 12:00am
Kuwait passes law tightening online media controls

Kuwait passes law tightening online media controls

Kuwait's parliament on Wednesday passed legislation to regulate all web-based "professional" media, a day after a controversial cybercrimes law came into effect. All forms of electronic media like Internet-based news services, bulletins, publications, new
Published 14 Jan, 2016 12:00am
Putin claims Russia has developed Ebola vaccine

Putin claims Russia has developed Ebola vaccine

Russian President Vladimir Putin claimed Wednesday his country had developed a vaccine for the Ebola virus which has killed thousands of people in west Africa. But Putin, who is famed for his talent for headline-grabbing announcements, did not give any na
Published 14 Jan, 2016 12:00am
Israeli air raid in Gaza kills one, wounds three

Israeli air raid in Gaza kills one, wounds three

An Israeli air raid on Wednesday in the northern Gaza Strip targeting alleged militants killed one Palestinian and wounded three others, the Israeli army and a Palestinian official said. Israeli aircraft "targeted a terror cell plotting to detonate an exp
Published 14 Jan, 2016 12:00am
Bulgaria eyes new gas project after South Stream failure

Bulgaria eyes new gas project after South Stream failure

Bulgaria's premier outlined Wednesday plans for a proposed new project to bring gas from Russia and elsewhere to Europe, while bypassing Ukraine, following the failure of the South Stream project. "South Stream is history. What is on the agenda now is the
Published 14 Jan, 2016 12:00am
Modi woos rural India with new crop insurance scheme

Modi woos rural India with new crop insurance scheme

India's cabinet has cleared the launch of the country's first major crop damage insurance scheme from the next fiscal year, a move that would further strain government finances but help Prime Minister Narendra Modi to woo rural voters ahead of key electio
Published 14 Jan, 2016 12:00am
Modi woos rural India with new crop insurance scheme

Modi woos rural India with new crop insurance scheme

India's cabinet has cleared the launch of the country's first major crop damage insurance scheme from the next fiscal year, a move that would further strain government finances but help Prime Minister Narendra Modi to woo rural voters ahead of key electio
Published 14 Jan, 2016 12:00am
Ford sets a special $1 billion dividend

Ford sets a special $1 billion dividend

Ford Motor Co on Tuesday declared a $1 billion supplemental cash dividend, but its outlook for 2016 profit failed to exceed Wall Street's estimates, sending its stock down in after-hours trading. The No 2 US automaker said it expected record 2015 pre-tax
Published 14 Jan, 2016 12:00am
Ford sets a special $1 billion dividend

Ford sets a special $1 billion dividend

Ford Motor Co on Tuesday declared a $1 billion supplemental cash dividend, but its outlook for 2016 profit failed to exceed Wall Street's estimates, sending its stock down in after-hours trading. The No 2 US automaker said it expected record 2015 pre-tax
Published 14 Jan, 2016 12:00am
China 2015 coal imports plunge 30 percent on demand slump
Currency

China 2015 coal imports plunge 30 percent on demand slump

China's coal imports slumped 30 percent to 204.1 million tonnes in 2015, customs data showed on Wednesday, hit by a slowdown in domestic demand and a collapse in the price of locally produced coal. Imports could fall further this year, analysts said, with
Published 14 Jan, 2016 12:00am
Russia announces new budget cuts

Russia announces new budget cuts

Russia said Wednesday it will slash budget spending by 10 percent this year due to sliding oil prices as Prime Minister Dmitry Medvedev insisted the country must "live within its means". The renewed austerity calls came as the price of oil, Russia's key e
Published 14 Jan, 2016 12:00am
Chinese exports down in December, but better than forecast
Currency

Chinese exports down in December, but better than forecast

Chinese exports exceeded expectations in December, spurring a rally on Asian markets Wednesday, in a rare bright spot for the world's second-largest economy which has been hit by slowing growth and saw overall trade drop last year. The Asian giant is key
Published 14 Jan, 2016 12:00am
Bypassing Russia, Ukraine to launch trade route to Kazakhstan

Bypassing Russia, Ukraine to launch trade route to Kazakhstan

Ukraine said on Wednesday it would launch the first test shipments of goods this week to Kazakhstan that would bypass Russia because of the Kremlin's new trade embargo on Kiev. Russia this month slapped new sanctions on Ukraine in response to its decision
Published 14 Jan, 2016 12:00am
Sainsbury's logs Christmas sales drop

Sainsbury's logs Christmas sales drop

British supermarket chain Sainsbury's, which is seeking to buy Home Retail Group, reported Wednesday falling sales for the third quarter of its financial year, hit by challenging Christmas trade. Sales fell 0.7 percent in the 15 weeks to January 9, compar
Published 14 Jan, 2016 12:00am
Foreign investment plummets in Thailand

Foreign investment plummets in Thailand

Foreign investment in Thailand plummeted last year, official data showed, the latest sign that the kingdom's once-vibrant economy continues to falter under prolonged military rule. Total investment applied for by foreign companies between January and Nove
Published 14 Jan, 2016 12:00am
GE to cut up to 6,500 European jobs in energy units acquired from Alstom

GE to cut up to 6,500 European jobs in energy units acquired from Alstom

General Electric said Wednesday it plans to cut up to 6,500 jobs in Europe in the energy units it acquired from France's Alstom last year. "The restructuring plan will touch several European countries and impact potentially 6,500 jobs out of 35,000," a GE
Published 14 Jan, 2016 12:00am
France had zero inflation in 2015

France had zero inflation in 2015

French inflation was zero in 2015, the national statistics agency Insee said on Wednesday. Prices rose 0.5 percent in 2014. "This new slowdown in consumer prices is mostly due to a sharp reduction in energy prices, in particular for oil products," Insee s
Published 14 Jan, 2016 12:00am
India's inflation rate quickens to 5.6 percent in December

India's inflation rate quickens to 5.6 percent in December

India's consumer price inflation accelerated to 5.6 percent in December, the Statistics Ministry said Tuesday, with prices rising at a faster pace than economists had expected. A steep increase in food prices drove the inflation rate up to a 15-month high
Published 14 Jan, 2016 12:00am
European court rules employers can monitor online communication

European court rules employers can monitor online communication

Employees in Europe will have to think twice about using the Internet to send private messages during office hours after Europe's top rights court ruled Tuesday that companies could monitor workers' online communications. The case revolved around a Romani
Published 14 Jan, 2016 12:00am
Irish consumer confidence hits fresh 10-year high in December

Irish consumer confidence hits fresh 10-year high in December

Irish consumer sentiment hit a new 10-year high in December, with employment growth, increased household spending capacity and the prospect of tax cuts lifting confidence, a survey showed on Tuesday. The KBC Bank Ireland/ESRI Consumer Sentiment Index clim
Published 14 Jan, 2016 12:00am
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