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Feb 16, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-02-28
Congo central bank to take steps to prop up weakening currency
Exchange

Congo central bank to take steps to prop up weakening currency

Democratic Republic of Congo's central bank plans to buy Congolese francs and increase the percentage of deposits banks must keep at the central bank, in an effort to prop up the national currency. Congo's exchange rate has remained steady and inflation l
Published 28 Feb, 2016 12:00am
Tax returns: government urged to extend deadline till June 30

Tax returns: government urged to extend deadline till June 30

Traders on Saturday urged the federal finance ministry to extend tax returns filing deadline till June 30 to help the willing traders capitalise on the amnesty scheme. Chairman Sindh Tajir Ittehad, Jamil Paracha lauded the tax amnesty scheme with a hope t
Published 28 Feb, 2016 12:00am
Tax returns: government urged to extend deadline till June 30

Tax returns: government urged to extend deadline till June 30

Traders on Saturday urged the federal finance ministry to extend tax returns filing deadline till June 30 to help the willing traders capitalise on the amnesty scheme. Chairman Sindh Tajir Ittehad, Jamil Paracha lauded the tax amnesty scheme with a hope t
Published 28 Feb, 2016 12:00am
US-funded Centre for CEJ launched at IBA
Exchange

US-funded Centre for CEJ launched at IBA

US ambassador to Pakistan David Hale and the IBA Director Ishrat Hussain jointly launched the Centre for Excellence in Journalism (CEJ) at Karachi's Institute of Business Administration (IBA) on Saturday. "This Centre for Excellence in Journalism aims to
Published 28 Feb, 2016 12:00am
Professorship on Quaid-e-Azam: LSE chief's proposal warmly welcomed

Professorship on Quaid-e-Azam: LSE chief's proposal warmly welcomed

London School of Economics and Political Science (LSE) Director and President, Professor Craig Calhoun visited Pakistan along with representatives of the South Asia Centre between 22-27 February. He was accompanied by Dr Mukulika Banerjee, Director of the
Published 28 Feb, 2016 12:00am
ATC indicts two MQM workers for possessing explosives

ATC indicts two MQM workers for possessing explosives

An Anti-Terrorism Court (ATC) on Saturday indicted two workers of Muttahida Qaumi Movement (MQM), including Ubaid K2, in different cases of possessing explosives. The ATC heard the cases at Central Jail Complex. After hearing arguments from both the sides
Published 28 Feb, 2016 12:00am
Two shot dead in Karak's market

Two shot dead in Karak's market

Two persons of rival groups were shot dead in a firing incident in Karak's main Takht-e-Nusrati Bazaar on Saturday morning. According to police sources, two rival groups, who came across each other in Takht-e-Nursati Bazaar, opened indiscriminate firing,
Published 28 Feb, 2016 12:00am
'Comprehensive measures taken for better healthcare in Punjab'

'Comprehensive measures taken for better healthcare in Punjab'

The Specialised Healthcare and Medical Education secretary has revealed comprehensive measures being taken to overhaul the health sector to offer better healthcare. Secretary Najam Ahmed Shah visiting wards of the Allied Hospital, District Headquarters Ho
Published 28 Feb, 2016 12:00am
Young doctors urged to bring about positive change in approach

Young doctors urged to bring about positive change in approach

The vice chancellor of University of Health Sciences General Muhammad Aslam (Retd) has said that young doctors would have to bring positive change in their approach to cope with challenges of modern age. While addressing the participants of 6th Annual Sci
Published 28 Feb, 2016 12:00am
APBF hails restoration of Pak-Iran banking channels

APBF hails restoration of Pak-Iran banking channels

The All Pakistan Business Forum President Ibrahim Qureshi on Saturday said that the lifting of sanctions and restoration of banking channels between Pakistan and Iran would revive normal trade and business activities between the two neighbours. Qureshi in
Published 28 Feb, 2016 12:00am
Pakistan much safer and stronger today: Shahbaz

Pakistan much safer and stronger today: Shahbaz

Federal Minister Abdul Qadir Baloch called on Punjab Chief Minister Shahbaz Sharif on Saturday. They discussed matters of mutual interest and other affairs. Speaking on the occasion, Shahbaz Sharif said that under the leadership of Prime Minister Nawaz Sh
Published 28 Feb, 2016 12:00am
Asma criticises curbs on freedom of speech

Asma criticises curbs on freedom of speech

Former president Supreme Court Bar Association Asma Jahangir here on Saturday said that no institution has the right to deprive anyone from his right to speech and added, bar will not accept the dictatorship of any judge. She said the institution of judic
Published 28 Feb, 2016 12:00am
Sarwar launches campaign for PTI Punjab presidency

Sarwar launches campaign for PTI Punjab presidency

The former Pakistan Tehreek-e-Insaf party organiser in the Punjab has launched a campaign to contest the intra-party election for the Punjab presidency and said direct elections will take place for all posts from union council to centre. Chaudhry Mohammad
Published 28 Feb, 2016 12:00am
Opium crop destroyed in Tirah

Opium crop destroyed in Tirah

The political administration, Jamrud Khyber Agency, destroyed crop of opium, cultivated on vast area of Chora, the far-flung area of Tirah to renew its pledged to say no to narcotics here on last day. Assistant Political Agent (APA) Jamrud, Saif-ul-Islam
Published 28 Feb, 2016 12:00am
NAB must not be assigned to lower position: Shujaat

NAB must not be assigned to lower position: Shujaat

Pakistan Muslim League's (PML) President and former Prime Minister Chaudhry Shujaat Hussain has admitted that there were black sheep within National Accountability Bureau (NAB) but he opposed new institution superior to that one on the ground that could m
Published 28 Feb, 2016 12:00am
KP chief minister asks MPAs to ensure judicious utilisation of funds

KP chief minister asks MPAs to ensure judicious utilisation of funds

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has said that responsible role of elected public representatives was imperative to ensure judicious utilisation of funds and quality of developmental schemes. He FURTHER SAID that PTI-led provincial governm
Published 28 Feb, 2016 12:00am
PAT leader meets Wattoo

PAT leader meets Wattoo

The leader of Pakistan Awami Tehreek Khurram Nawaz Gundapur called on the Pakistan Peoples' Party Punjab President Manzoor Ahmad Wattoo. The matters of mutual interest including political situation of the country, and Modal Town tragedy came under discuss
Published 28 Feb, 2016 12:00am
Nawaz to send pair of bull, cow to Qatar Emir

Nawaz to send pair of bull, cow to Qatar Emir

A C-130 aircraft will be operating from Lahore to Qatar tomorrow to deliver a pair of bull and cow (Sahiwal breed) as a gift from Prime Minister Nawaz Sharif to Emir of State of Qatar. According to sources, Pakistan International Airline (PIA) will bear a
Published 28 Feb, 2016 12:00am
'China wants to cement relations in every sector'

'China wants to cement relations in every sector'

China is seeking to cement relations with Pakistan in every sector beginning signing off a string of memoranda of understanding. The announcement came from Chinese Company Huaneng Shangdong Ruyi Song Taiji Chief Executive Officer in his address to trainee
Published 28 Feb, 2016 12:00am
PCGA voices concern over decrease in cotton yield
Cotton

PCGA voices concern over decrease in cotton yield

Central executive committee of Pakistan Cotton Ginners Association (PCGA) has expressed concern over decrease in cotton yield in the current season of 2015-16. In this regard, the 278th meeting presiding over by the chairman Shehzad Ali Khan was held here
Published 28 Feb, 2016 12:00am
UAF to hold spring festival

UAF to hold spring festival

The University of Agriculture Faisalabad (UAF) is holding spring festival from February 28 to March 10th. The festival was meant for providing a platform to enhance the interaction among farming, researchers and industry that will help to increase agricul
Published 28 Feb, 2016 12:00am
Prices of essential items remain unchanged

Prices of essential items remain unchanged

Price of essential kitchen items did not witness any significant change in the past week compared to preceding week, found a survey carried out by Business Recorder here on Saturday. The survey observed that the prices of main vegetables including
Published 28 Feb, 2016 12:00am
SECP, Foundation University organise awareness seminar
Exchange

SECP, Foundation University organise awareness seminar

The Securities and Exchange Commission of Pakistan (SECP), taking forward its financial literacy campaign on investment education and awareness organised a seminar for the students of Foundation University at its campus in Rawalpindi. The seminar was orga
Published 28 Feb, 2016 12:00am
Capital police still struggling to curb crimes

Capital police still struggling to curb crimes

The city police are least bothered over increasing crime rate in the federal capital as metropolis witnessed an upward trend in robbery, burglary and car theft cases during last week. According to police sources, as many as four vehicles including bikes w
Published 28 Feb, 2016 12:00am
Bara traders demand financial package

Bara traders demand financial package

Traders from Bara, Khyber Agency had demanded new financial package to help revive their militancy affected business in their respective areas. The trading community and tribesmen of Bara have suffered a lot due to militancy and later the operation of sec
Published 28 Feb, 2016 12:00am
UN Convention on UNCRC: report forwarded to Ministry of Foreign Affairs

UN Convention on UNCRC: report forwarded to Ministry of Foreign Affairs

The Ministry of Human Rights has forwarded its report to the Ministry of Foreign Affairs pertaining replies to the list of issues and additional questions on Pakistan's fifth periodic report to the UN Convention on the Rights of the Child (UNCRC). Talking
Published 28 Feb, 2016 12:00am
Suarez Navarro comeback secures Qatar Open title

Suarez Navarro comeback secures Qatar Open title

Spain's Carla Suarez Navarro came from a set behind against Latvian teenager Jelena Ostapenko on Saturday to win the Qatar Open, 1-6, 6-4, 6-4. It was only her second ever WTA singles title and means she will climb five places to become the world number s
Published 28 Feb, 2016 12:00am
'Lewo' nets 23rd league goal as Bayern go 11 clear

'Lewo' nets 23rd league goal as Bayern go 11 clear

Robert Lewandowski scored his 23rd league goal of the season on Saturday as runaway Bundesliga leaders Bayern Munich went 11 points clear with a 2-0 win at Wolfsburg. Pep Guardiola's Bayern now have 62 points out of a possible 69, their tally exactly doub
Published 28 Feb, 2016 12:00am
India survive Aamir's spell to beat Pakistan

India survive Aamir's spell to beat Pakistan

India overcame a fiery opening spell from Pakistan bowler Mohammad Aamir to pummel their bitter rivals by five wickets in a key Asia Cup Twenty20 match in the Bangladeshi capital Dhaka on Saturday. Defending a low score of 83 runs, Aamir generated sheer p
Published 28 Feb, 2016 12:00am
Zaman Memorial Open Golf enters into final phase

Zaman Memorial Open Golf enters into final phase

After the second round of this 54 holes and three rounds 3rd J. A. Zaman Memorial Open Golf Championship, in progress at the much revered par 72, Lahore Gymkhana Golf Course and now entering the final phase, the most dynamic player of the country, M. Shab
Published 28 Feb, 2016 12:00am
Wawrinka claims Dubai title after 'crazy tiebreaker'

Wawrinka claims Dubai title after 'crazy tiebreaker'

Stan Wawrinka won his ninth straight final with a 6-4, 7-6 (15/13) defeat of Marcos Baghdatis to clinch the Dubai ATP title on Saturday after a "crazy tiebreaker". The French Open champion from Switzerland claimed the 13th title of his career and second o
Published 28 Feb, 2016 12:00am
Gray double boosts Burnley's promotion push

Gray double boosts Burnley's promotion push

Burnley surged back to the top of the Championship after Andre Gray scored twice to clinch a 2-1 win at struggling Bolton on Saturday. Gray's heroics helped Burnley overcome Liam Feeney's opener for Bolton as the Clarets moved one point clear of Hull in t
Published 28 Feb, 2016 12:00am
Real would be top if everyone was like me, rages Ronaldo

Real would be top if everyone was like me, rages Ronaldo

Real Madrid star Cristiano Ronaldo claimed the Spanish giants would be top of La Liga rather than nine points behind Barcelona if his team-mates matched his standards. Ronaldo had a day to forget in front of goal as Real waved goodbye to any lasting hope
Published 28 Feb, 2016 12:00am
Thousands join anti-nuclear weapons march in London

Thousands join anti-nuclear weapons march in London

Tens of thousands of people protested in London on Saturday against the proposed renewal of Britain's Trident nuclear weapons system, in what supporters said was the biggest such demonstration in a generation. Opposition Labour leader Jeremy Corbyn, who h
Published 28 Feb, 2016 12:00am
Danish minister resigns, ending government crisis

Danish minister resigns, ending government crisis

Denmark's environment minister resigned on Saturday, ending a crisis of confidence that had threatened to topple Prime Minister Lars Lokke Rasmussen's minority centre-right government. "Today I have announced to the prime minister that I resign from the p
Published 28 Feb, 2016 12:00am
Clinton eyes decisive win as South Carolina begins voting

Clinton eyes decisive win as South Carolina begins voting

Hillary Clinton is eyeing a decisive win in South Carolina's Democratic presidential nomination race, hoping to gain momentum against Bernie Sanders before the high-stakes "Super Tuesday" contest. One week after Donald Trump barreled to victory in the sta
Published 28 Feb, 2016 12:00am
US sets out limits on its spying as part of new data pact with EU

US sets out limits on its spying as part of new data pact with EU

The United States has set out limits to its use of data collected in bulk about European citizens after a new information-sharing pact was agreed this month, according to documents seen by Reuters. A clear explanation of what information could be used for
Published 28 Feb, 2016 12:00am
Boris Johnson urges UK cabinet to back Brexit, defying Cameron

Boris Johnson urges UK cabinet to back Brexit, defying Cameron

London Mayor Boris Johnson urged British government ministers to join the campaign to leave the European Union in a newspaper interview on Saturday, again defying Prime Minister and fellow Conservative David Cameron. A political showman who is widely thou
Published 28 Feb, 2016 12:00am
British anti-EU leader to back 'no' vote in Dutch polls

British anti-EU leader to back 'no' vote in Dutch polls

Leading British eurosceptic Nigel Farage will visit the Netherlands in April to help whip up support for a key Dutch referendum aimed at opposing an EU cooperation deal with Ukraine. Even though the April 6 vote is non-binding on the Dutch government, it
Published 28 Feb, 2016 12:00am
One dead after Hong Kong plane crash

One dead after Hong Kong plane crash

A man died after a small aircraft he was flying plunged into the sea in Hong Kong on Saturday, a rare occurrence in the southern Chinese city. The crash was reported shortly after 2 pm local time (0600 GMT) and emergency responders were seen lifting a bod
Published 28 Feb, 2016 12:00am
AU to strengthen human rights mission in Burundi

AU to strengthen human rights mission in Burundi

The African Union is to boost its human rights and military observers in Burundi as part of efforts to calm the country's long-running political crisis, South African President Jacob Zuma said Saturday. Zuma led a delegation of five African leaders in tal
Published 28 Feb, 2016 12:00am
Colombia reports almost 43,000 Zika cases

Colombia reports almost 43,000 Zika cases

Colombia has registered 42,706 cases of people infected with Zika, including 7,653 in pregnant women, the country's National Health Institute reported on Saturday. The latest count represents an increase of 5,695 new cases of the mosquito-borne virus in t
Published 28 Feb, 2016 12:00am
France says detects first sexually transmitted Zika case

France says detects first sexually transmitted Zika case

France has detected its first sexually transmitted case of Zika in a woman whose partner had traveled to Brazil, the epicentre of an outbreak of the virus, a senior health official said on Saturday. US officials said earlier this week they were investigat
Published 28 Feb, 2016 12:00am
Turkey takes pro-Kurdish channel off air for 'terror propaganda'

Turkey takes pro-Kurdish channel off air for 'terror propaganda'

An independent pro-Kurdish television channel in Turkey said Saturday the authorities had ordered it to be taken off air on accusations that it broadcast "terrorist propaganda" for militants. IMC TV said in a statement that Ankara prosecutors had sent a l
Published 28 Feb, 2016 12:00am
Death toll rises to 14 after Mogadishu bombings

Death toll rises to 14 after Mogadishu bombings

The death toll rose to 14 on Saturday from massive bomb blasts outside a Mogadishu hotel and a park that was claimed by Somalia's Shebab Islamists, government and medical sources said. Eighteen people were wounded in Friday's bombings, two of whom succumb
Published 28 Feb, 2016 12:00am
Solar Impulse plane makes first maintenance flight in Hawaii

Solar Impulse plane makes first maintenance flight in Hawaii

The sun-powered plane Solar Impulse 2 has made a successful test flight in Hawaii, where it has been grounded for repairs on its round-the-world trek, the Swiss-based project said Saturday. "The first Solar Impulse 2 maintenance flight took place on Frida
Published 28 Feb, 2016 12:00am
Car bomb injures seven in Thailand's rebellious south

Car bomb injures seven in Thailand's rebellious south

A car bomb detonated outside an urban police station in Thailand's restive south Saturday, injuring at least seven people and offering a reminder of the region's simmering violence as the ruling junta eyes full peace talks with the insurgents. The explosi
Published 28 Feb, 2016 12:00am
Mugabe decries factionalism at lavish 92nd birthday party

Mugabe decries factionalism at lavish 92nd birthday party

Zimbabwean President Robert Mugabe on Saturday blamed foreign interference for the infighting and succession battles plaguing his party as the world's oldest leader celebrated his 92nd birthday at a lavish affair. Thousands of party loyalists, foreign rep
Published 28 Feb, 2016 12:00am
Kosovo presidential vote violence 'extremely worrying': EU

Kosovo presidential vote violence 'extremely worrying': EU

Scenes of violence at Kosovo's parliament during which opposition MPs released tear gas to prevent the election of a new president were "extremely worrying", the European Union said on Saturday. The protests took place on Friday as the parliament gathered
Published 28 Feb, 2016 12:00am
Dutch princess breaks leg in Austria ski accident

Dutch princess breaks leg in Austria ski accident

Young Dutch Princess Alexia broke her leg in a skiing accident in Austria on Saturday and was flown by helicopter to hospital for surgery, the palace said. The 10-year-old, who is second in line to the throne, was on holiday with her parents King Willem A
Published 28 Feb, 2016 12:00am
Guatemala convicts 2 ex-soldiers for sex slavery, murder

Guatemala convicts 2 ex-soldiers for sex slavery, murder

A Guatemalan court has sentenced two former soldiers to 120 and 240 years of prison for subjecting at least 15 indigenous women to sexual slavery and other crimes during the country's civil war. The accused are guilty of "crimes against humanity, murder a
Published 28 Feb, 2016 12:00am
Thousands stuck on Greek border as Balkans cap migrant arrivals

Thousands stuck on Greek border as Balkans cap migrant arrivals

More than 5,000 people were stuck at the Idomeni camp on Greece's northern border with Macedonia on Saturday after four Balkan countries announced a daily cap on migrant arrivals. The build-up began in earnest last week after Macedonia began refusing entr
Published 28 Feb, 2016 12:00am
US presses Xi on South China Sea non-militarization

US presses Xi on South China Sea non-militarization

The White House pressed Chinese President Xi Jinping on Friday to expand his non-militarization pledge to cover the entire South China Sea, despite Beijing's recent military activity in the area. Daniel Kritenbrink, senior director for Asian affairs at th
Published 28 Feb, 2016 12:00am
Australia sends relief ship to Fiji in wake of Cyclone Winston

Australia sends relief ship to Fiji in wake of Cyclone Winston

Australia is sending a relief ship to Fiji to assist in the recovery effort after Cyclone Winston, the worst ever recorded in the southern hemisphere, tore through the island nation last Saturday, as the sheer scale of the disaster becomes clearer. The de
Published 28 Feb, 2016 12:00am
ASEAN says seriously concerned about rising South China Sea tensions

ASEAN says seriously concerned about rising South China Sea tensions

Southeast Asian nations expressed serious concern on Saturday about growing international tension over disputed waters in the South China Sea. China claims most of the sea but Southeast Asian countries Malaysia, the Philippines, Brunei and Vietnam have ri
Published 28 Feb, 2016 12:00am
How long before the cracks show in China's great currency wall?
Exchange

How long before the cracks show in China's great currency wall?

China still owns the world's largest currency reserves, but it has been burning through them at such a pace that some think Beijing might soon have to allow a sharp fall in the yuan or back-pedal on liberalisation and tighten its capital controls. Foreign
Published 28 Feb, 2016 12:00am
Romanian central bank moves must not impact currency: Governor
Currency

Romanian central bank moves must not impact currency: Governor

Romania's central bank may tighten broad monetary policy sooner than expected this year to counter rebounding inflation, provided its measures do not fuel a rise in the leu currency, Governor Mugur Isarescu said. The central bank expects inflation to rebo
Published 28 Feb, 2016 12:00am
Chinese online insurer Zhong An plans $2 billion mainland IPO

Chinese online insurer Zhong An plans $2 billion mainland IPO

Chinese Internet insurer Zhong An Online Property and Casualty Insurance plans an up-to-$2 billion initial public offering in mainland China in 2016, IFR reported on Friday, citing people close to the deal. At $2 billion, the deal would be the largest-eve
Published 28 Feb, 2016 12:00am
Japan January core CPI flat, keeps policymakers under pressure

Japan January core CPI flat, keeps policymakers under pressure

Falling fuel costs kept Japan's core consumer prices unchanged in January from a year earlier, well below the central bank's 2 percent target, highlighting the daunting task policymakers face in attempting to lift Japan out of stagnation. A separate index
Published 28 Feb, 2016 12:00am
German inflation turns negative in February, hits one-year-low

German inflation turns negative in February, hits one-year-low

German annual inflation turned negative in February, hitting the lowest level in more than a year, data showed on Friday, in a further sign that price pressures in the eurozone weakened more than expected ahead of a central bank meeting next month. The da
Published 28 Feb, 2016 12:00am
US, EU say free-trade deal possible this year

US, EU say free-trade deal possible this year

Negotiators on a huge EU-US trade treaty claimed Friday they were making progress towards reaching an accord by the end of the year as they completed the latest round of talks. The Transatlantic Trade and Investment Partnership (TTIP), under negotiation s
Published 28 Feb, 2016 12:00am
Qatar's Nebras to buy Engie's stake in Indonesian power producer

Qatar's Nebras to buy Engie's stake in Indonesian power producer

Qatar's Nebras Power has agreed to acquire a 35.5 percent stake held by French utility giant Engie in Indonesia's largest independent power producer PT Paiton Energy, Qatar News Agency reported on Saturday. With a 2 gigawatt (GW) capacity, PT Paiton is th
Published 28 Feb, 2016 12:00am
Tesco plays down job cuts report

Tesco plays down job cuts report

Tesco, Britain's biggest retailer, played down a newspaper report on Saturday that it was considering cutting 39,000 store staff over the next three years, saying it had no current plans to lay off more employees. The Guardian newspaper said the job reduc
Published 28 Feb, 2016 12:00am
Tesco plays down job cuts report

Tesco plays down job cuts report

Tesco, Britain's biggest retailer, played down a newspaper report on Saturday that it was considering cutting 39,000 store staff over the next three years, saying it had no current plans to lay off more employees. The Guardian newspaper said the job reduc
Published 28 Feb, 2016 12:00am
British Airways owner announces soaring annual profit
Currency

British Airways owner announces soaring annual profit

International Airlines Group, owner of BA and Iberia, said Friday that net profit surged 52 percent last year on tumbling fuel prices and its purchase of Irish carrier Aer Lingus. Profit after tax jumped to 1.495 billion euros ($1.654 billion) in 2015 com
Published 28 Feb, 2016 12:00am
British Airways owner announces soaring annual profit
Currency

British Airways owner announces soaring annual profit

International Airlines Group, owner of BA and Iberia, said Friday that net profit surged 52 percent last year on tumbling fuel prices and its purchase of Irish carrier Aer Lingus. Profit after tax jumped to 1.495 billion euros ($1.654 billion) in 2015 com
Published 28 Feb, 2016 12:00am
Angry protests as France's farm expo opens

Angry protests as France's farm expo opens

France's annual farm fair kicked off on Saturday with dramatic displays of anger by farmers facing ruin, with protesters heckling President Francois Hollande and tearing down the agriculture ministry's pavilion. Five members of the main farmers' union FNS
Published 28 Feb, 2016 12:00am
Gap profit forecast misses estimates

Gap profit forecast misses estimates

Apparel retailer Gap Inc's full-year profit forecast fell short of analysts' estimates as it struggles with a strong dollar and weak sales in its Banana Republic and Gap brands. The company's shares fell 4.6 percent to $26.32 in extended trading on Thursd
Published 28 Feb, 2016 12:00am
Gap profit forecast misses estimates

Gap profit forecast misses estimates

Apparel retailer Gap Inc's full-year profit forecast fell short of analysts' estimates as it struggles with a strong dollar and weak sales in its Banana Republic and Gap brands. The company's shares fell 4.6 percent to $26.32 in extended trading on Thursd
Published 28 Feb, 2016 12:00am
Vedanta wins gold-hungry India's first mine auction

Vedanta wins gold-hungry India's first mine auction

Vedanta Ltd has won India's first-ever auction of a gold mine, a provincial government official said, as the nation opens up the sector to private companies to curb overseas purchases of the metal that cost it $36 billion last year. Vedanta, a unit of Lon
Published 28 Feb, 2016 12:00am
Bailout would cut Bombardier's CSeries jet stake, taking it off books

Bailout would cut Bombardier's CSeries jet stake, taking it off books

A proposed Canadian government bailout of Bombardier Inc's new CSeries jet manufacturing program would reduce the company's stake in the money-losing aircraft, taking it off the plane maker's books and boosting results in the short-term, two sources famil
Published 28 Feb, 2016 12:00am
Sharp liabilities list covered worst-case scenarios

Sharp liabilities list covered worst-case scenarios

Sharp Corp's list of liabilities that prompted Taiwan's Foxconn to suspend signing a takeover deal was an unverified study of worst-case scenario risks, rather than liabilities requiring disclosure, a source briefed on the matter said. The list, sent to F
Published 28 Feb, 2016 12:00am
US Treasury chief says the world should stop relying on US consumers

US Treasury chief says the world should stop relying on US consumers

US Treasury Secretary Jack Lew called on G20 members on Saturday to redouble their efforts to boost global demand instead of relying on the American consumer to drive growth. Lew, speaking at a press conference at the end of the G20 finance ministers conf
Published 28 Feb, 2016 12:00am
US Treasury chief says the world should stop relying on US consumers

US Treasury chief says the world should stop relying on US consumers

US Treasury Secretary Jack Lew called on G20 members on Saturday to redouble their efforts to boost global demand instead of relying on the American consumer to drive growth. Lew, speaking at a press conference at the end of the G20 finance ministers conf
Published 28 Feb, 2016 12:00am
Nintendo halves profit forecast on strong yen
Currency

Nintendo halves profit forecast on strong yen

Video game giant Nintendo on Friday chopped its full-year net profit forecast in half, saying slowing sales and a recent pick up in the Japanese currency were eating into its bottom line. The Kyoto-based company said it now expected to eke out a 17 billio
Published 28 Feb, 2016 12:00am
Nintendo halves profit forecast on strong yen
Currency

Nintendo halves profit forecast on strong yen

Video game giant Nintendo on Friday chopped its full-year net profit forecast in half, saying slowing sales and a recent pick up in the Japanese currency were eating into its bottom line. The Kyoto-based company said it now expected to eke out a 17 billio
Published 28 Feb, 2016 12:00am
Gazprom to hold natgas auction for Lithuania, Latvia

Gazprom to hold natgas auction for Lithuania, Latvia

Russia's biggest natural gas producer Gazprom said on Saturday it would hold its second gas export auction in mid-March, offering more than 560 million cubic metres of the fuel to Lithuania and Latvia. Natural gas sold at the auction will be delivered to
Published 28 Feb, 2016 12:00am
OECD calls for reforms to wake up growth

OECD calls for reforms to wake up growth

With little hope for the world economy picking up pace soon, governments must tackle reforms at home to kickstart growth, the OECD said on Friday. Promoting entrepreneurship, labour mobility and higher productivity were all on the menu of the Organisation
Published 28 Feb, 2016 12:00am
China says to speed up approvals for some drugs

China says to speed up approvals for some drugs

China's drug regulator said it would accelerate approvals of new medicines, long a headache for pharmaceutical firms who complain it takes too long to get drugs to market. The China Food and Drug Administration (CFDA) said in a statement published on Frid
Published 28 Feb, 2016 12:00am
BASF braces for lower operating profit on oil, China

BASF braces for lower operating profit on oil, China

BASF, the world's largest chemical company by sales, warned investors of a drop in operating income this year on weak chemical sales volumes in China and as the lower crude price weighs on its oil and gas division. Earnings before interest and tax (EBIT),
Published 28 Feb, 2016 12:00am
BASF braces for lower operating profit on oil, China

BASF braces for lower operating profit on oil, China

BASF, the world's largest chemical company by sales, warned investors of a drop in operating income this year on weak chemical sales volumes in China and as the lower crude price weighs on its oil and gas division. Earnings before interest and tax (EBIT),
Published 28 Feb, 2016 12:00am
Dutch win approval to renew beef exports to US

Dutch win approval to renew beef exports to US

The Netherlands has won US approval to renew exports of beef and veal to the United States, ending a ban imposed almost two decades ago because mad cow disease, Dutch officials said Friday. The green light was given after a rigorous review by US authoriti
Published 28 Feb, 2016 12:00am
Turkey starts repairs on Iraqi Kurdish oil pipeline

Turkey starts repairs on Iraqi Kurdish oil pipeline

Turkey has begun work to repair a pipeline taking crude oil from northern Iraq to the Mediterranean through its restive southeast and aims to restore flows soon, the Turkish energy ministry said on Saturday. The pipeline, which has been repeatedly sabotag
Published 28 Feb, 2016 12:00am
Twenty-First Century: Fox shares could get rare Oscars season boost

Twenty-First Century: Fox shares could get rare Oscars season boost

Shares of 21st Century Fox could be set for a rare Oscar rally if the global media conglomerate takes home gold at this Sunday's Academy Awards ceremony. The Oscars, which draws some of the biggest audiences of any single annual television event, typicall
Published 28 Feb, 2016 12:00am
Twenty-First Century: Fox shares could get rare Oscars season boost

Twenty-First Century: Fox shares could get rare Oscars season boost

Shares of 21st Century Fox could be set for a rare Oscar rally if the global media conglomerate takes home gold at this Sunday's Academy Awards ceremony. The Oscars, which draws some of the biggest audiences of any single annual television event, typicall
Published 28 Feb, 2016 12:00am
Swiss agree road map with Iran for boosting ties

Swiss agree road map with Iran for boosting ties

Switzerland said on Saturday it had agreed on a "road map" for building business, financial and other links with Iran after Swiss President Johann Schneider-Ammann met his counterpart Hassan Rouhani in Tehran. "The aim is to relaunch various dialogues bet
Published 28 Feb, 2016 12:00am
Argentina inches closer to bond return

Argentina inches closer to bond return

The prospect of a bond sale of up to US $15bn from Argentina - its first international debt issue in more than a decade - is growing nearer as negotiations with the country's holdout creditors approach the finish line. Argentina could come to market as so
Published 28 Feb, 2016 12:00am
OANDA acquires TradeStation's forex trading accounts
Exchange

OANDA acquires TradeStation's forex trading accounts

Online currency broker OANDA announced on Wednesday that the company has acquired all of the foreign exchange trading accounts of IBFX, Inc, also known as TradeStation Forex. IBFX is a unit of TradeStation Group, Inc. The announcement comes as IBFX exits
Published 28 Feb, 2016 12:00am
Wall Street pares gains as data raises rate hike chances

Wall Street pares gains as data raises rate hike chances

Wall Street pared early gains on Friday after stronger-than-expected US GDP and consumer spending data raised the likelihood of the Federal Reserve hiking interest rates sooner than expected. Fourth-quarter gross domestic product increased at a 1 percent
Published 28 Feb, 2016 12:00am
China, South Korea to launch direct trading of yuan/won
Exchange

China, South Korea to launch direct trading of yuan/won

China and South Korea agreed on Friday to launch direct trading of their currencies within China by the end of June, saying this will expand trade and investment. The neighbouring countries began direct trade between the yuan and the won in South Korea in
Published 28 Feb, 2016 12:00am
Argentina inches closer to bond return

Argentina inches closer to bond return

The prospect of a bond sale of up to US $15bn from Argentina - its first international debt issue in more than a decade - is growing nearer as negotiations with the country's holdout creditors approach the finish line. Argentina could come to market as so
Published 28 Feb, 2016 12:00am
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