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Jan 31, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-01-30
Opposition absent as Syria 'peace talks' start

Opposition absent as Syria 'peace talks' start

A UN-led push to chart a way out of Syria's tangled civil war got off to a shaky start Friday, with only representatives of Bashar al-Assad's regime attending the first day of supposed peace talks in Switzerland. The main umbrella body representing the my
Published 30 Jan, 2016 12:00am
Prime Minister briefed about CDA projects

Prime Minister briefed about CDA projects

Prime Minister Nawaz Sharif chaired a meeting to review the performance of development projects of CDA. Minister of State for Capital Administration and Development Division (CADD) Tariq Fazl Chaudhry, Chairman CDA and other senior government officers att
Published 30 Jan, 2016 12:00am
THE RUPEE: mixed patterns
Currency

THE RUPEE: mixed patterns

The rupee moved both ways against the dollar on the money market on Friday in the process of trading, dealers said. The rupee after staying unchanged against the dollar for a long-time, reacted positively, gaining four-paisa for buying at Rs 104.90 and it
Published 30 Jan, 2016 12:00am
Pak-India rail communication pact extended

Pak-India rail communication pact extended

An agreement between Pakistan and India regarding Rail Communication has been extended by mutual consent through diplomatic channels for the period of three years. The agreement has been extended from January 19, 2016 to January 18, 2019, a statement issu
Published 30 Jan, 2016 12:00am
THE RUPEE: mixed patterns
Currency

THE RUPEE: mixed patterns

The rupee moved both ways against the dollar on the money market on Friday in the process of trading, dealers said. The rupee after staying unchanged against the dollar for a long-time, reacted positively, gaining four-paisa for buying at Rs 104.90 and it
Published 30 Jan, 2016 12:00am
FATA human rights: Senate panel recommends amendment to FCR

FATA human rights: Senate panel recommends amendment to FCR

A parliamentary body Friday recommended amendment to colonial Frontier Crimes Regulations (FCR) to provide basic human rights to citizens of the Federally Administered Tribal Areas (FATA) and holding Local Bodies (LB) system in tribal areas to empower the
Published 30 Jan, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (January 29, 2016).

Published 30 Jan, 2016 12:00am
Pemra approves imposition of fine on TV channel

Pemra approves imposition of fine on TV channel

Pemra Authority approved on Friday, a fine of Rs 1 million on Samaa TV for airing a "highly objectionable", indecent and "vulgar" text message during its crime re-enactment programme "Wardat" in July last year. The text message was not only in violation o
Published 30 Jan, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (January 29, 2016).

Published 30 Jan, 2016 12:00am
Pakistan wants cordial ties with neighbours: Zehri

Pakistan wants cordial ties with neighbours: Zehri

Balochistan Chief Minister Nawab Sanaullah Zehri on Friday said that Pakistan always wanted cordial relations with its neighbouring countries. He was talking to a delegation of United Nations High Commissioner for Refugees (UNHCR) led by Indrika Ratwatte,
Published 30 Jan, 2016 12:00am
Anusha urges Cisco for innovative, cost effective models

Anusha urges Cisco for innovative, cost effective models

State Minister for Information Technology Anusha Rahman held inaugural telepresence meeting with Cisco international team. The meeting was attended by Dr Robert Pepper Vice President Global Telecom Policy Cisco, Pastora Velero Vice President Government an
Published 30 Jan, 2016 12:00am
Pakistan condemns suicide attack in KSA

Pakistan condemns suicide attack in KSA

Pakistan on Friday strongly condemned the terrorist attack at a mosque in Saudi Arabia which resulted in killing of at least four people and injuring 18 others. "Pakistan strongly condemns the suicide bombing during Friday prayers at a mosque in the easte
Published 30 Jan, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (January 29, 2016)

Published 30 Jan, 2016 12:00am
Effective security for educational institutions directed

Effective security for educational institutions directed

Executive District Officer (EDO) Lahore, Pervaiz Akhtar presided over a meeting of headmasters and principals of all A Plus and A category public and private schools of provincial metropolis for making security of educational institutions of Lahore effect
Published 30 Jan, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (January 29, 2016).

Published 30 Jan, 2016 12:00am
Punjab-based textile industry: APTMA seeks allocation of 300mmcfd of LNG

Punjab-based textile industry: APTMA seeks allocation of 300mmcfd of LNG

The All Pakistan Textile Mills Association (APTMA) has requested the government to allocate 300 million cubic feet per day (mmcfd) of Liquefied Natural Gas (LNG) to Punjab-based textile industry. A delegation of textile industry led by Tariq Saud, Chairma
Published 30 Jan, 2016 12:00am
Plea to review agriculture policies for food security
Cotton

Plea to review agriculture policies for food security

The Lahore Chamber of Commerce and Industry (LCCI) has called to review agriculture policies saying that serious food security could take place in near future because of rising graph of population. If steps are not taken on war footing, food security woul
Published 30 Jan, 2016 12:00am
ZSL to conduct training for zoo keepers

ZSL to conduct training for zoo keepers

Punjab University Department of Zoology Associate Professor Dr Zulfiqar Ali visited Zoological Society London (ZSL) in the extension of Translational Education Programme of British Council. The ZSL will conduct training for zoo keepers in Pakistan and exp
Published 30 Jan, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (January 29, 2016).

Published 30 Jan, 2016 12:00am
SECP exempts mutual funds from IFRS-10
Mutual Funds

SECP exempts mutual funds from IFRS-10

The Securities and Exchange Commission of Pakistan has directed that the requirements of consolidation under section 237 of the 1984 Companies Ordinance and International Financial Reporting Standard-10 (IFRS-10) will not apply to investment by companies
Published 30 Jan, 2016 12:00am
The Weather

The Weather

The weather report on Friday (January 29, 2016) and the forecast for Saturday (January 30, 2016).

Published 30 Jan, 2016 12:00am
EU apprehends irreversible 'miscarriage of justice'

EU apprehends irreversible 'miscarriage of justice'

The European Union (EU) has said that fundamental weaknesses of the police and judicial system combined with the use of the death penalty carry a very high risk of irreversible miscarriage of justice. The EU in its GSP plus assessment report released on J
Published 30 Jan, 2016 12:00am
Ban on motorcycle rickshaws within city areas hailed

Ban on motorcycle rickshaws within city areas hailed

The business community of Faisalabad on Friday has welcomed the decision of ban on the entry of motorcycle rickshaws within the city areas and demanded immediate and strict implementation on this already much delayed decision. In a statement issued on Fri
Published 30 Jan, 2016 12:00am
Shahbaz condoles death

Shahbaz condoles death

Punjab Chief Minister Muhammad Shahbaz Sharif has expressed deep sense of sorrow and grief over the sad demise of former Justice Ameer Alam Khan. In a condolence message, the Chief Minister prayed that may Allah Almighty rest the departed soul in eternal
Published 30 Jan, 2016 12:00am
Influenza treatment: walk held to create awareness

Influenza treatment: walk held to create awareness

A walk was held here on Friday to create awareness among masses about the influenza disease and measures to get rid of it. The participants of the walk were carrying placards, banners inscribed with slogans about deleterious effects of influenza disease,
Published 30 Jan, 2016 12:00am
TDAP chief praises government's performance

TDAP chief praises government's performance

The Chief Executive Officer of Trade Development Authority of Pakistan (TDAP), SM Muneer said that the government has improved security and investment situation and image of Pakistan which is attracting investors from all over the world. Muneer who is als
Published 30 Jan, 2016 12:00am
GSP Plus: EU ambassador, Shahbaz review implementation

GSP Plus: EU ambassador, Shahbaz review implementation

Ambassador of European Union in Pakistan Jean Francois Cautain met Punjab Chief Minister Muhammad Shahbaz Sharif, here on Friday and discussed promotion of bilateral relations and implementation of the points of GSP Plus. The Chief Minister said there are
Published 30 Jan, 2016 12:00am
Government urged to announce new package for leather industry

Government urged to announce new package for leather industry

The tanning industry has urged the government to announce new incentive package for the leather industry to enable it to compete with the regional competitors to help enhance exports of leather goods and finished leather. According to Pakistan Tanners Ass
Published 30 Jan, 2016 12:00am
Indus Motor to sponsor 11th Cholistan Jeep Rally

Indus Motor to sponsor 11th Cholistan Jeep Rally

The Indus Motor Company has signed an agreement with the Tourism Development Corporation of Punjab enabling them to sponsor the 11th Cholistan Jeep Rally. The signing ceremony took place in Lahore which also drew in top company and corporation officials.
Published 30 Jan, 2016 12:00am
Various ordinances presented in Punjab Assembly

Various ordinances presented in Punjab Assembly

In Punjab Assembly various ordinances including "Local Government Second (Amendment) Ordinance 2016, The Punjab Economic Research Institute (Amendment) Ordinance 2016, The Punjab Economic Research Institute (Amendment) Ordinance 2016, The Punjab Economic
Published 30 Jan, 2016 12:00am
JI starts Kashmir solidarity week

JI starts Kashmir solidarity week

The Jamaat e Islami started observing Kashmir Solidarity Week on Friday till February 5, on the instructions of the Ameer JIP, Senator Siraj-ul-Haq. JI central and provincial leaders will lead rallies in the federal and provincial capitals on February 5.
Published 30 Jan, 2016 12:00am
Shenzen Zone, M-3 Estate to be declared 'sisters industrial estates'

Shenzen Zone, M-3 Estate to be declared 'sisters industrial estates'

Shenzen Industrial Zone (Guangdong) China and M-3 Industrial Estate Faisalabad are going to be declared as 'sisters industrial estates.' Federal Minister for Planning and Development Professor Ahsan Iqbal will announce this when he will visit Faisalabad i
Published 30 Jan, 2016 12:00am
Business community asked to focus on exploring Bulgarian market

Business community asked to focus on exploring Bulgarian market

Pakistan Ambassador designate to Bulgaria Babar Hashmi has stressed the business community to focus on exploring Bulgarian market as it was a gateway to enter South-Eastern Europe for promoting exports. In an interview with Business Recorder on Fri
Published 30 Jan, 2016 12:00am
Two killed in road accidents

Two killed in road accidents

Two persons, including mother and daughter were killed and five others sustained injuries in two separate road accidents took place in Sur Kamar and Shahgai areas of tehsil Jamrud of Khyber Agency.
Published 30 Jan, 2016 12:00am
10 landmines found in house

10 landmines found in house

The police administration recovered 10 landmines from a house and arrested an accused here on Friday. Political agent of Kurram Agency said that the police administration on secret information raided a house during which 10 landmines were recovered and a
Published 30 Jan, 2016 12:00am
KP has established LG system in real sense: Khattak

KP has established LG system in real sense: Khattak

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has said that Khyber Pakhtunkhwa is first province of the country which has established local government system in real sense in the country by delegating financial and all other necessary powers to local g
Published 30 Jan, 2016 12:00am
Glowing tributes paid to Sahabzada Yaqub Khan

Glowing tributes paid to Sahabzada Yaqub Khan

Glowing tributes were paid to late Sahabzada Yaqub Khan, former foreign minister at a condolence meeting held here at the Foreign Office on Friday. According to a Foreign Office statement, the meeting was chaired by Adviser to the Prime Minister on Foreig
Published 30 Jan, 2016 12:00am
NYT lauds Sahabzada's diplomatic, political skills

NYT lauds Sahabzada's diplomatic, political skills

In a tribute to the Pakistan's late Foreign Minister Sahabzada Yaqub Khan, The New York Times on Friday lauded his diplomatic and political skills during his long service in diplomacy and as a military commander. Sam Roberts, a noted journalist wrote that
Published 30 Jan, 2016 12:00am
Marriott Hotel celebrates new Chinese year

Marriott Hotel celebrates new Chinese year

Marriott Hotel hosted a event at its Dynasty Restaurant, famous for its authentic Chinese. The event was to promote and celebrate the new Chinese year and introduce the new Chinese chef of Islamabad Marriott Hotel, Jovi Kay Cheng. Jovi has over 18 years o
Published 30 Jan, 2016 12:00am
Mining licenses to foreigners: KP Governor takes notice

Mining licenses to foreigners: KP Governor takes notice

Khyber Pakhtunkhwa Governor Sardar Mahtab Ahmad Khan has taken a serious notice of issuance of mining licenses and leases to foreigners in FATA on the basis of fraudulently made Pakistani nationality documents and directed the relevant officials to immedi
Published 30 Jan, 2016 12:00am
Pakistani artist holds solo exhibition in Denmark
Exchange

Pakistani artist holds solo exhibition in Denmark

"People in Pakistan have experienced terror attacks and bomb blasts too many times, however they are still looking for good things and seeking hope. We are a brave nation, and this needs to be told to the world". This was stated by Imran Qureshi, one of t
Published 30 Jan, 2016 12:00am
RITBA celebrates 75th year of Appellate Tribunal Inland Revenue

RITBA celebrates 75th year of Appellate Tribunal Inland Revenue

Rawalpindi Islamabad Tax Bar Association here on Thursday organised a function on the occasion of 75th year of Appellate Tribunal Inland Revenue. The event was arranged in honour of members of Tribunal IR. President of RITBA, Tauqeer Bukhari Advocate Supr
Published 30 Jan, 2016 12:00am
Cracker lobbed at Rangers' picket

Cracker lobbed at Rangers' picket

Some unidentified persons lobbed a cracker at a Rangers' picket in North Nazimabad on Friday. No loss of life was reported in the incident. Following the incident, heavy contingent of law enforcers, including police, Rangers and BDS personnel, rushed to t
Published 30 Jan, 2016 12:00am
Prime Minister urged to consider UTA demands

Prime Minister urged to consider UTA demands

Hyderabad Chamber of Commerce and Industry senior vice president Turab Ali Khoja has appealed the Prime Minister Nawaz Sharif to consider the demands of United Transport Alliance. He said that if the United Transport closes down the business, it may creat
Published 30 Jan, 2016 12:00am
IJT Nazim calls on KU vice chancellor

IJT Nazim calls on KU vice chancellor

Hamza Muhammad Siddiqui has been elected as Nazim of Islami Jamiat Talaba(IJT) KU for the session of 2016-17. The newly-elected Nazim met the VC KU and discussed with him the ongoing issues being confronted by the students of the university. Nazim IJT KU
Published 30 Jan, 2016 12:00am
Japanese Ambassador calls on Qaim

Japanese Ambassador calls on Qaim

The out-going Ambassador of Japan Hiroshi Inomata called on Sindh Chief Minister Syed Qaim Ali Shah here at the CM House on Friday. The Ambassador thanked the chief minister for his support and cooperation during his tenure in Pakistan. The chief minister
Published 30 Jan, 2016 12:00am
Sindh chief minister calls on Bilawal

Sindh chief minister calls on Bilawal

Sindh Chief Minister Syed Qaim Ali Shah called on PPP Chairman Bilawal Bhutto Zardari at Bilawal House here on Friday. The chief minister discussed party matters and socio-political issues with the Chairman.
Published 30 Jan, 2016 12:00am
Clarification

Clarification

This is apropos a news item dated January 26th, 2016. It is to be clarified that in the news item related to Iqbal Z. Ahmed, his business concerns Jamshoro Joint Venture Limited (JJVL) and Pakistan Gas Port Limited (PGPL), it has been erroneously mentione
Published 30 Jan, 2016 12:00am
Foreign investors: Auto industry uplift plan may face lukewarm response

Foreign investors: Auto industry uplift plan may face lukewarm response

The upcoming auto industry development plan may face a lukewarm response from foreign investors, following the liberal policy on import of used cars, auto experts said here Friday. They said the policymakers had appeared indistinct on the auto industry de
Published 30 Jan, 2016 12:00am
CCP organises seminar at MCCI

CCP organises seminar at MCCI

The Competition Commission of Pakistan (CCP) held a seminar at the Multan Chamber of Commerce & Industry (MCCI) that also marked the conclusion of the National Road Show on Competition Law.
Published 30 Jan, 2016 12:00am
USAID-funded SRP, PRP discussed

USAID-funded SRP, PRP discussed

Sindh education officials and subject experts gathered at a conference organised by the United States Agency for International Development (USAID)-funded Sindh Reading Program (SRP) and Pakistan Reading Project (PRP) to refine reading performance standard
Published 30 Jan, 2016 12:00am
Suicide jackets, bombs recovered

Suicide jackets, bombs recovered

The security personnel recovered huge cache of arms, suicide jackets, hand grenades and explosives from a vehicle here on Friday. Levies sources said that they signalled to stop a suspected vehicle in main town of Qilla Saifullah. The culprits on board in
Published 30 Jan, 2016 12:00am
Bilawal condemns 'highhandedness' of Punjab government

Bilawal condemns 'highhandedness' of Punjab government

Bilawal Bhutto Zardari, the Chairman of Pakistan Peoples' Party (PPP) on Friday condemned what he called 'highhandedness' of Punjab administration to 'snatch' mandate of PPP in South Punjab. He warned PML-N that options would be open if PPP's mandate was
Published 30 Jan, 2016 12:00am
UBL Funds, Samba Bank sign agreement
Mutual Funds

UBL Funds, Samba Bank sign agreement

UBL Fund Managers Limited (UBL Funds) and Samba Bank Limited have entered into an agreement enabling a distribution alliance of UBL Funds' products through Samba Bank Limited. The signing ceremony was held at Samba Bank's Head Office in the presence of Sh
Published 30 Jan, 2016 12:00am
UBL Funds, Samba Bank sign agreement
Mutual Funds

UBL Funds, Samba Bank sign agreement

UBL Fund Managers Limited (UBL Funds) and Samba Bank Limited have entered into an agreement enabling a distribution alliance of UBL Funds' products through Samba Bank Limited. The signing ceremony was held at Samba Bank's Head Office in the presence of Sh
Published 30 Jan, 2016 12:00am
Norwegian firms keen to make investments: envoy

Norwegian firms keen to make investments: envoy

Ambassador of Norway to Pakistan, Tore Nedrebo, has said many companies of his country were interested in making investment in Pakistan. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), he said Norwegian companies are exploring in
Published 30 Jan, 2016 12:00am
KU awards 7 M.Phil and 26 PhD degrees

KU awards 7 M.Phil and 26 PhD degrees

Board of Advance Studies and Research (BASR) University of Karachi in its meeting held under the chairmanship of Professor Dr Muhammad Qaiser, Vice-Chancellor University of Karachi, awarded seven M.Phil and 26 PhD degrees. Students who were awarded the MP
Published 30 Jan, 2016 12:00am
AbacusConsulting signs MoU with Silkbank

AbacusConsulting signs MoU with Silkbank

Silkbank, one of the fastest growing banks in the country, has signed an MOU with AbacusConsulting and VentureTel for the implementation of branchless banking and mobile financial services in Pakistan in a ceremony held in Lahore. AbacusConsulting, the le
Published 30 Jan, 2016 12:00am
Warid launches international calling offer

Warid launches international calling offer

Warid, Pakistan's first LTE network is proud to offer international dialing bundles to its subscribers. Through this offer, subscribers can make longer calls to USA (LL+M), Canada (LL+M), UK (LL), China (LL+M), France (LL), Italy (LL), and Germany (LL). T
Published 30 Jan, 2016 12:00am
Corps Commander meets Sindh chief minister

Corps Commander meets Sindh chief minister

Corps Commander Karachi Lieutenant General Naveed Mukhtar called on Sindh Chief Minister Syed Qaim Ali Shah, here at the Chief Minister's House on Friday. During the meeting, they discussed issues related to National Action Plan and operation against terr
Published 30 Jan, 2016 12:00am
Mobile app for banking

Mobile app for banking

Customers' expectations for mobile banking are high & rising. The swift and convenient interaction between the banks and the customers is what gives a bank an edge over its competitors. To create a differentiation in customers' mind, mobile banking servic
Published 30 Jan, 2016 12:00am
Intra-party elections: PTI's CEC bars Imran from backing any candidate

Intra-party elections: PTI's CEC bars Imran from backing any candidate

The Election Commission of Pakistan Tehreek-e-Insaf (PTI) on Friday barred party chairman Imran Khan not to back any candidate, taking part in the intra-party elections, to ensure transparency in its second intra-party elections in next couple of months.
Published 30 Jan, 2016 12:00am
32 factories, units sealed

32 factories, units sealed

District Environment Officers along with the teams raided 1102 units during a 10-day campaign of Environment Department against the units involved in illegal trade, recycling and storing of hospitals' waste throughout the province. The department sealed 3
Published 30 Jan, 2016 12:00am
MQM ticket-holder, others join PTI

MQM ticket-holder, others join PTI

A delegation spearheaded by Muttahida Qaumi Movement (MQM) ticket-holder and 26 other party leaders have announced to join the Pakistan Tehreek-e-Insaf (PTI). Punjab-based party former organiser Chaudhary Mohammad Sarwar met the delegates who included Ans
Published 30 Jan, 2016 12:00am
SNGPL clarification

SNGPL clarification

"A news item published in the Business Recorder dated 23.01.2016 with the subject "FCCI criticises billing of LNG", misrepresents facts of billing the price for LNG to textile consumers. In this regard, it is imperative to inform that the supply of
Published 30 Jan, 2016 12:00am
Liberal import of used cars harming local industry

Liberal import of used cars harming local industry

Experts are questioning the rationale behind import of used cars as the government is attempting to pull in more foreign investors in the upcoming auto industry development plan. Policy makers are working at cross-purpose as the government envisions Europ
Published 30 Jan, 2016 12:00am
PPDWP approves four uplift schemes

PPDWP approves four uplift schemes

The Punjab Provincial Development Working Party approved four welfare schemes of various development sectors with an estimated cost of Rs 1373.36 million. These schemes were approved in the 25th meeting of Provincial Development Working Party (PDWP) of cu
Published 30 Jan, 2016 12:00am
Election of mayors: PAT files petition in LHC

Election of mayors: PAT files petition in LHC

The Pakistan Awami Party (PAT) has approached the Lahore High Court (LHC) against Punjab Local Government (Amended) Ordinance 2016 that changed method of electing mayors/ deputy mayors from "secret ballot" to "show of hand" besides other changes in the la
Published 30 Jan, 2016 12:00am
Brazil 2015 budget gap hits record as austerity fails

Brazil 2015 budget gap hits record as austerity fails

Brazil's overall budget deficit soared to a record 613 billion reais ($150.99 billion) in 2015, central bank data showed on Friday, nearly doubling from last year as efforts to rebalance fiscal accounts failed and interest rates shot up. The budget defici
Published 30 Jan, 2016 12:00am
Sweden's Electrolux posts 2015 profit drop

Sweden's Electrolux posts 2015 profit drop

Swedish giant Electrolux said Thursday that net profit plummeted by nearly a third last year, wrapping up a year marked by the failed acquisition of General Electric's appliance business with a final-quarter loss. The company announced a 30-percent drop i
Published 30 Jan, 2016 12:00am
South Africa raises key interest rate even as growth slows
Currency

South Africa raises key interest rate even as growth slows

South Africa raised its benchmark interest rate by an aggressive half a percentage point to 6.75 percent Thursday to counter rising inflation, despite fears that the country could be heading into recession. Economic woes have piled up in recent months for
Published 30 Jan, 2016 12:00am
MasterCard profit rises 11.1 percent
Currency

MasterCard profit rises 11.1 percent

MasterCard Inc, the operator of the world's second-largest payments network, reported an 11.1 percent rise in quarterly profit as purchase volumes increased. The company's net income rose to $890 million, or 79 cents per share, in the fourth quarter ended
Published 30 Jan, 2016 12:00am
MasterCard profit rises 11.1 percent
Currency

MasterCard profit rises 11.1 percent

MasterCard Inc, the operator of the world's second-largest payments network, reported an 11.1 percent rise in quarterly profit as purchase volumes increased. The company's net income rose to $890 million, or 79 cents per share, in the fourth quarter ended
Published 30 Jan, 2016 12:00am
China fiscal deficit widens, revenue growth weakest since 1988

China fiscal deficit widens, revenue growth weakest since 1988

China had a wider fiscal deficit in 2015 than a year earlier as it jacked up spending to cushion an economic slowdown and government revenue grew by the smallest percentage in 27 years, Finance Ministry data showed on Friday. The ministry's website said t
Published 30 Jan, 2016 12:00am
Sony says bracing for smartphone slowdown after sensor sales dip

Sony says bracing for smartphone slowdown after sensor sales dip

Sony Corp, widely regarded as a key supplier of image sensors for Apple Inc's iPhones, said on Friday it was bracing for a slowdown in the premium smartphone market after sales of its sensors fell in the third quarter. Videogame sales and cost cuts in Son
Published 30 Jan, 2016 12:00am
Sony says bracing for smartphone slowdown after sensor sales dip

Sony says bracing for smartphone slowdown after sensor sales dip

Sony Corp, widely regarded as a key supplier of image sensors for Apple Inc's iPhones, said on Friday it was bracing for a slowdown in the premium smartphone market after sales of its sensors fell in the third quarter. Videogame sales and cost cuts in Son
Published 30 Jan, 2016 12:00am
Chevron posts first loss since 2002

Chevron posts first loss since 2002

Chevron Corp reported its first quarterly loss in more than 13 years on Friday despite Wall Street's expectations for a profit, as plunging oil prices eroded profitability across all its divisions. It was the latest sign that the more than 70 percent drop
Published 30 Jan, 2016 12:00am
Chevron posts first loss since 2002

Chevron posts first loss since 2002

Chevron Corp reported its first quarterly loss in more than 13 years on Friday despite Wall Street's expectations for a profit, as plunging oil prices eroded profitability across all its divisions. It was the latest sign that the more than 70 percent drop
Published 30 Jan, 2016 12:00am
Germany tries to appease Poland on second Baltic pipeline

Germany tries to appease Poland on second Baltic pipeline

German vice chancellor Sigmar Gabriel on Friday sought to allay Poland's concerns over plans to build a second pipeline to pump Russian gas to Germany under the Baltic Sea. "We're taking Poland's concerns very seriously," said Gabriel, who is also Germany
Published 30 Jan, 2016 12:00am
Indian stocks surge nearly two percent

Indian stocks surge nearly two percent

Indian stocks rose nearly 2 percent on Friday, posting their first weekly gain in four, as a rebound in commodity prices and Bank of Japan's bold move to adopt negative interest rates ended a tough month for markets with a flourish. The broader NSE index
Published 30 Jan, 2016 12:00am
US economy hits soft patch in Q4 as inventories, trade weigh

US economy hits soft patch in Q4 as inventories, trade weigh

US economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports. Gross domestic product increased at a 0.7 percent annual rate, the Commerc
Published 30 Jan, 2016 12:00am
China shares rally, but biggest monthly drop in seven years
Exchange

China shares rally, but biggest monthly drop in seven years

Chinese shares closed sharply higher on Friday, recovering some of the week's losses, but still recorded their biggest monthly fall in about seven years, which has knocked 12 trillion yuan ($1.8 trillion) off the value of its benchmark indexes. The Shangh
Published 30 Jan, 2016 12:00am
Eurozone inflation ticks up
Currency

Eurozone inflation ticks up

Eurozone inflation ticked up in January, only modest relief for the European Central Bank which is still likely to cut rates again as price growth could turn negative by the spring and lending suffered an unexpected setback. Inflation has hovered near zer
Published 30 Jan, 2016 12:00am
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