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Jan 31, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-03-07
Gujarat put on high alert amid fears of attack

Gujarat put on high alert amid fears of attack

India has rushed elite security forces to its western state of Gujarat after an intelligence report that some 10 militants may have crossed over from Pakistan, police said Sunday. Security has been strengthened at all major installations in the coastal st
Published 07 Mar, 2016 12:00am
Gujarat put on high alert amid fears of attack

Gujarat put on high alert amid fears of attack

India has rushed elite security forces to its western state of Gujarat after an intelligence report that some 10 militants may have crossed over from Pakistan, police said Sunday. Security has been strengthened at all major installations in the coastal st
Published 07 Mar, 2016 12:00am
Ghani optimistic peace talks 'within weeks'

Ghani optimistic peace talks 'within weeks'

Afghan officials voiced optimism Sunday that Taliban peace talks would resume "within weeks" even after the insurgents rebuffed calls for dialogue, with analysts dismissing their seemingly tough stance as a bargaining ploy. Talks brokered by a four-countr
Published 07 Mar, 2016 12:00am
Ghani optimistic peace talks 'within weeks'

Ghani optimistic peace talks 'within weeks'

Afghan officials voiced optimism Sunday that Taliban peace talks would resume "within weeks" even after the insurgents rebuffed calls for dialogue, with analysts dismissing their seemingly tough stance as a bargaining ploy. Talks brokered by a four-countr
Published 07 Mar, 2016 12:00am
THE RUPEE: divergent trends
Exchange

THE RUPEE: divergent trends

The rupee moved both ways against the dollar on the money market during the week, ended on Mar 5, 2016. In the interbank market, the rupee shed eight paisas versus the dollar for buying and selling at Rs 104.76 and Rs 104.77.
Published 07 Mar, 2016 12:00am
THE RUPEE: divergent trends
Exchange

THE RUPEE: divergent trends

The rupee moved both ways against the dollar on the money market during the week, ended on Mar 5, 2016. In the interbank market, the rupee shed eight paisas versus the dollar for buying and selling at Rs 104.76 and Rs 104.77.
Published 07 Mar, 2016 12:00am
Iran tycoon sentenced to death for corruption
Currency

Iran tycoon sentenced to death for corruption

Iran has sentenced billionaire tycoon Babak Zanjani, reportedly one of the country's richest men, to death, convicting him of corruption after a long trial on accusations he fraudulently pocketed $2.8 billion. A justice official announced the punishment S
Published 07 Mar, 2016 12:00am
Iran tycoon sentenced to death for corruption
Currency

Iran tycoon sentenced to death for corruption

Iran has sentenced billionaire tycoon Babak Zanjani, reportedly one of the country's richest men, to death, convicting him of corruption after a long trial on accusations he fraudulently pocketed $2.8 billion. A justice official announced the punishment S
Published 07 Mar, 2016 12:00am
China's economy not headed for hard landing: official

China's economy not headed for hard landing: official

China's economy isn't headed for a hard landing and isn't dragging on the global economy, China's top economic planner said on Sunday, but uncertainty and instability in the global economy do pose a risk to the country's growth.
Published 07 Mar, 2016 12:00am
China's economy not headed for hard landing: official

China's economy not headed for hard landing: official

China's economy isn't headed for a hard landing and isn't dragging on the global economy, China's top economic planner said on Sunday, but uncertainty and instability in the global economy do pose a risk to the country's growth.
Published 07 Mar, 2016 12:00am
China''s economy not headed for hard landing: official

China''s economy not headed for hard landing: official

China''s economy isn''t headed for a hard landing and isn''t dragging on the global economy, China''s top economic planner said on Sunday, but uncertainty and instability in the global economy do pose a risk to the country''s growth.
Published 07 Mar, 2016 12:00am
Positive sentiments witnessed
Cotton

Positive sentiments witnessed

Pakistan shares rose 3.7 percent Week-on-Week (WoW) with benchmark KSE-100 index closing at 32,441 points. Investor sentiments were positive in most of otherwise volatile trading sessions on the back of rally in selected scrips.
Published 07 Mar, 2016 12:00am
Positive sentiments witnessed
Cotton

Positive sentiments witnessed

Pakistan shares rose 3.7 percent Week-on-Week (WoW) with benchmark KSE-100 index closing at 32,441 points. Investor sentiments were positive in most of otherwise volatile trading sessions on the back of rally in selected scrips.
Published 07 Mar, 2016 12:00am
Positive sentiments witnessed
Cotton

Positive sentiments witnessed

Pakistan shares rose 3.7 percent Week-on-Week (WoW) with benchmark KSE-100 index closing at 32,441 points. Investor sentiments were positive in most of otherwise volatile trading sessions on the back of rally in selected scrips.
Published 07 Mar, 2016 12:00am
Budget FY17: Security, energy among top priorities: Dar

Budget FY17: Security, energy among top priorities: Dar

Finance Minister Ishaq Dar chaired a meeting of senior officials of Ministry of Finance to review the status of preparation of budget 2016-17. The meeting was apprised about the schedule of preparatory activities.
Published 07 Mar, 2016 12:00am
Budget FY17: Security, energy among top priorities: Dar

Budget FY17: Security, energy among top priorities: Dar

Finance Minister Ishaq Dar chaired a meeting of senior officials of Ministry of Finance to review the status of preparation of budget 2016-17. The meeting was apprised about the schedule of preparatory activities.
Published 07 Mar, 2016 12:00am
Budget FY17: Security, energy among top priorities: Dar

Budget FY17: Security, energy among top priorities: Dar

Finance Minister Ishaq Dar chaired a meeting of senior officials of Ministry of Finance to review the status of preparation of budget 2016-17. The meeting was apprised about the schedule of preparatory activities.
Published 07 Mar, 2016 12:00am
'Incentive grant' for provinces approved by minister

'Incentive grant' for provinces approved by minister

Finance Minister Senator Ishaq Dar has approved release of Rs 1,292.549 million incentive grant for immediate apportionment among the provinces for the July-September quarter of current fiscal year 2015-16. As approved, the Punjab will receive Rs 271.714
Published 07 Mar, 2016 12:00am
'Incentive grant' for provinces approved by minister

'Incentive grant' for provinces approved by minister

Finance Minister Senator Ishaq Dar has approved release of Rs 1,292.549 million incentive grant for immediate apportionment among the provinces for the July-September quarter of current fiscal year 2015-16. As approved, the Punjab will receive Rs 271.714
Published 07 Mar, 2016 12:00am
''Incentive grant'' for provinces approved by minister

''Incentive grant'' for provinces approved by minister

Finance Minister Senator Ishaq Dar has approved release of Rs 1,292.549 million incentive grant for immediate apportionment among the provinces for the July-September quarter of current fiscal year 2015-16. As approved, the Punjab will receive Rs 271.714
Published 07 Mar, 2016 12:00am
Services trade deficit down 30 percent in seven months

Services trade deficit down 30 percent in seven months

The country's services trade deficit fell sharply 30 percent during first seven months of this fiscal year (FY16) supported by lower imports bill. Economists said that downward trend in the commodity price on international front has largely contributed in
Published 07 Mar, 2016 12:00am
Services trade deficit down 30 percent in seven months

Services trade deficit down 30 percent in seven months

The country's services trade deficit fell sharply 30 percent during first seven months of this fiscal year (FY16) supported by lower imports bill. Economists said that downward trend in the commodity price on international front has largely contributed in
Published 07 Mar, 2016 12:00am
Services trade deficit down 30 percent in seven months

Services trade deficit down 30 percent in seven months

The country''s services trade deficit fell sharply 30 percent during first seven months of this fiscal year (FY16) supported by lower imports bill. Economists said that downward trend in the commodity price on international front has largely contributed i
Published 07 Mar, 2016 12:00am
Xi says won't allow Taiwan to be split off again

Xi says won't allow Taiwan to be split off again

China will never allow the tragedy of Taiwan being "split" off from the rest of the country to happen again, state media on Sunday quoted President Xi Jinping as saying, offering a strong warning to the island against any moves towards independence.
Published 07 Mar, 2016 12:00am
Xi says won't allow Taiwan to be split off again

Xi says won't allow Taiwan to be split off again

China will never allow the tragedy of Taiwan being "split" off from the rest of the country to happen again, state media on Sunday quoted President Xi Jinping as saying, offering a strong warning to the island against any moves towards independence.
Published 07 Mar, 2016 12:00am
Trump and Clinton still ahead in US race

Trump and Clinton still ahead in US race

Senators Ted Cruz and Bernie Sanders scored key victories in the 2016 quest for the White House, but Donald Trump and Hillary Clinton remained their parties' frontrunners as the "Super Saturday" results came in. Republican Trump and Democrat Clinton both
Published 07 Mar, 2016 12:00am
Trump and Clinton still ahead in US race

Trump and Clinton still ahead in US race

Senators Ted Cruz and Bernie Sanders scored key victories in the 2016 quest for the White House, but Donald Trump and Hillary Clinton remained their parties' frontrunners as the "Super Saturday" results came in. Republican Trump and Democrat Clinton both
Published 07 Mar, 2016 12:00am
Second possible MH370 plane part found in Reunion

Second possible MH370 plane part found in Reunion

A resident on the French Indian Ocean island of Reunion who last year found a wing fragment from Malaysia Airlines flight MH370 said on Sunday he had come across a second possible piece from the missing plane. Johnny Begue, who found the "flaperon" part w
Published 07 Mar, 2016 12:00am
President arrives in Jakarta for OIC summit

President arrives in Jakarta for OIC summit

President Mamnoon Hussain on Sunday arrived in Jakarta to represent Pakistan at the fifth Extraordinary Summit of Organisation of Islamic Cooperation on Palestine and Al-Quds Al-Shareef. The two-day summit commencing under the theme 'United for Just Solut
Published 07 Mar, 2016 12:00am
President arrives in Jakarta for OIC summit

President arrives in Jakarta for OIC summit

President Mamnoon Hussain on Sunday arrived in Jakarta to represent Pakistan at the fifth Extraordinary Summit of Organisation of Islamic Cooperation on Palestine and Al-Quds Al-Shareef. The two-day summit commencing under the theme 'United for Just Solut
Published 07 Mar, 2016 12:00am
Kuwait to develop Pakistan oil fields

Kuwait to develop Pakistan oil fields

State-run Kuwait Petroleum Corporation (KPC) said on Sunday that its international arm has signed a memorandum of understanding to develop oil fields in Pakistan. The signing by Kuwait Foreign Petroleum Exploration Company (KUFPEC) took place in Kuwait du
Published 07 Mar, 2016 12:00am
Kuwait to develop Pakistan oil fields

Kuwait to develop Pakistan oil fields

State-run Kuwait Petroleum Corporation (KPC) said on Sunday that its international arm has signed a memorandum of understanding to develop oil fields in Pakistan. The signing by Kuwait Foreign Petroleum Exploration Company (KUFPEC) took place in Kuwait du
Published 07 Mar, 2016 12:00am
Kuwait to develop Pakistan oil fields

Kuwait to develop Pakistan oil fields

State-run Kuwait Petroleum Corporation (KPC) said on Sunday that its international arm has signed a memorandum of understanding to develop oil fields in Pakistan. The signing by Kuwait Foreign Petroleum Exploration Company (KUFPEC) took place in Kuwait du
Published 07 Mar, 2016 12:00am
Nancy Reagan dies

Nancy Reagan dies

Nancy Reagan, devoted wife and trusted confidante to late president Ronald Reagan who after his death became the most ardent guardian of his political legacy, died Sunday. She was 94. The former first lady passed away at her home in Los Angeles from conge
Published 07 Mar, 2016 12:00am
Nancy Reagan dies

Nancy Reagan dies

Nancy Reagan, devoted wife and trusted confidante to late president Ronald Reagan who after his death became the most ardent guardian of his political legacy, died Sunday. She was 94. The former first lady passed away at her home in Los Angeles from conge
Published 07 Mar, 2016 12:00am
IS truck bomb kills at least 60 in Baghdad

IS truck bomb kills at least 60 in Baghdad

A truck bomb at an Iraqi checkpoint south of Baghdad killed at least 60 people and wounded more than 70 on Sunday, medical and security officials said, and Islamic State claimed responsibility for the blast. The suicide attack, involving an explosive-lade
Published 07 Mar, 2016 12:00am
IS truck bomb kills at least 60 in Baghdad

IS truck bomb kills at least 60 in Baghdad

A truck bomb at an Iraqi checkpoint south of Baghdad killed at least 60 people and wounded more than 70 on Sunday, medical and security officials said, and Islamic State claimed responsibility for the blast. The suicide attack, involving an explosive-lade
Published 07 Mar, 2016 12:00am
ECB set to increase dose of monetary medicine

ECB set to increase dose of monetary medicine

The European Central Bank will almost certainly announce new stimulus measures at its policy meeting next week, analysts said, as eurozone inflation turned negative and the economic outlook continues to cloud over.
Published 07 Mar, 2016 12:00am
ECB set to increase dose of monetary medicine

ECB set to increase dose of monetary medicine

The European Central Bank will almost certainly announce new stimulus measures at its policy meeting next week, analysts said, as eurozone inflation turned negative and the economic outlook continues to cloud over.
Published 07 Mar, 2016 12:00am
ECB set to increase dose of monetary medicine

ECB set to increase dose of monetary medicine

The European Central Bank will almost certainly announce new stimulus measures at its policy meeting next week, analysts said, as eurozone inflation turned negative and the economic outlook continues to cloud over.
Published 07 Mar, 2016 12:00am
25 migrants including children drown off Turkey

25 migrants including children drown off Turkey

At least 25 migrants including children died on Sunday when their wooden boat capsized in the Aegean Sea while trying to cross from Turkey to Greece, the Turkish coastguard said. Fifteen migrants were rescued following the capsizal off the coastal town of
Published 07 Mar, 2016 12:00am
25 migrants including children drown off Turkey

25 migrants including children drown off Turkey

At least 25 migrants including children died on Sunday when their wooden boat capsized in the Aegean Sea while trying to cross from Turkey to Greece, the Turkish coastguard said. Fifteen migrants were rescued following the capsizal off the coastal town of
Published 07 Mar, 2016 12:00am
Greek PM blasts IMF 'stalling tactics'

Greek PM blasts IMF 'stalling tactics'

Greek Prime Minister Alexis Tsipras on Sunday said the IMF was employing "stalling tactics" and "arbitrary" estimates to hold up a reforms review crucial to the country's economic recovery. The leftist PM said the Washington-based global lender was bent o
Published 07 Mar, 2016 12:00am
Greek PM blasts IMF 'stalling tactics'

Greek PM blasts IMF 'stalling tactics'

Greek Prime Minister Alexis Tsipras on Sunday said the IMF was employing "stalling tactics" and "arbitrary" estimates to hold up a reforms review crucial to the country's economic recovery. The leftist PM said the Washington-based global lender was bent o
Published 07 Mar, 2016 12:00am
Greek PM blasts IMF ''stalling tactics''

Greek PM blasts IMF ''stalling tactics''

Greek Prime Minister Alexis Tsipras on Sunday said the IMF was employing "stalling tactics" and "arbitrary" estimates to hold up a reforms review crucial to the country''s economic recovery. The leftist PM said the Washington-based global lender was bent
Published 07 Mar, 2016 12:00am
Rouhani 'very pleased' moderate MPs elected
Exchange

Rouhani 'very pleased' moderate MPs elected

Iran's President Hassan Rouhani said Sunday he was "very pleased" voters backed moderate politicians in elections and that he hoped cooperation with his government would soon replace confrontation in parliament. At a press conference in Tehran, Rouhani, c
Published 07 Mar, 2016 12:00am
Rouhani 'very pleased' moderate MPs elected
Exchange

Rouhani 'very pleased' moderate MPs elected

Iran's President Hassan Rouhani said Sunday he was "very pleased" voters backed moderate politicians in elections and that he hoped cooperation with his government would soon replace confrontation in parliament. At a press conference in Tehran, Rouhani, c
Published 07 Mar, 2016 12:00am
Rouhani ''very pleased'' moderate MPs elected
Exchange

Rouhani ''very pleased'' moderate MPs elected

Iran''s President Hassan Rouhani said Sunday he was "very pleased" voters backed moderate politicians in elections and that he hoped cooperation with his government would soon replace confrontation in parliament. At a press conference in Tehran, Rouhani,
Published 07 Mar, 2016 12:00am
Credit expansion in KP: SBP holds discussion today

Credit expansion in KP: SBP holds discussion today

State Bank of Pakistan (SBP) will hold an important discussion session titled "Credit Expansion in KP-Discussion with Banks and Chambers of Commerce" at a local hotel, here on Monday (today). The event is expected to be attended by presidents of banks, re
Published 07 Mar, 2016 12:00am
Australian HC meets CM Punjab
Exchange

Australian HC meets CM Punjab

Australian High Commissioner Margaret Anne Adamson met Punjab Chief Minister Muhammad Shahbaz Sharif, here Sunday. Matters of mutual interest, promotion of bilateral economic and social relations and increase in cooperation between the two countries in ag
Published 07 Mar, 2016 12:00am
NAB must not harass people: Rashid

NAB must not harass people: Rashid

Information Minister Pervaiz Rashid has said that PML-N is not scared of accountability as it has been facing it for the past twenty years; however, he added, NAB should investigate the causes but not harass or disgrace the people.
Published 07 Mar, 2016 12:00am
Punjab government approves Rs 50 million for LGH

Punjab government approves Rs 50 million for LGH

On the direction of Punjab Chief Minister, Muhammad Shahbaz Sharif, a fund worth Rs50 million has been approved for Lahore General Hospital in order to complete its project regarding provision of clean, hygienic and pollution free environment in the premi
Published 07 Mar, 2016 12:00am
Non-filers asked to avail VTCS

Non-filers asked to avail VTCS

Khawaja Muhammad Shafiq Central Chairman of Anjuman Tajiran Pakistan was optimistic that 3.5 million non-filers would avail the Voluntary Tax Compliance Scheme (VTCS) to save themselves from audit of 9 years and blackmailing of corrupt mafias.
Published 07 Mar, 2016 12:00am
Punjab and Malaysia advocate promotion of bilateral tourism

Punjab and Malaysia advocate promotion of bilateral tourism

A high-powered delegation of Malaysia Tourism department held talks with Punjab Tourism senior officials to promote tourism between Pakistan and Malaysia here on Sunday. Talking to Business Recorder head of the Malaysian delegation Datuk Seri Mirza
Published 07 Mar, 2016 12:00am
Shahbaz lauds Orange Line Metro Train Project

Shahbaz lauds Orange Line Metro Train Project

Punjab Chief Minister Muhammad Shahbaz Sharif has said that Lahore Orange Line Metro Train is a unique and unprecedented project in the history of the country and its completion will result in availability of respectable transport facilities of internatio
Published 07 Mar, 2016 12:00am
Rupee's depreciation critical to increasing exports: TDAP CEO
Cotton

Rupee's depreciation critical to increasing exports: TDAP CEO

Chief Executive Officer (CEO) of Trade Development Authority (TDAP) S M Muneer said, "The Pakistani rupee's depreciation is essential to increase the exports which would generate more employment and cause development of industries and exports,." We should
Published 07 Mar, 2016 12:00am
NAB: PTI leader says Punjab should not be a 'no-go-area'

NAB: PTI leader says Punjab should not be a 'no-go-area'

Pakistan Tehreek-e-Insaf Punjab leader Chaudhry Mohammad Sarwar has said Punjab should not be a "no-go area" for the National Accountability Burea (NAB) and added that the PML-N leaders have started hue and cry over their accountability; the corrupt were
Published 07 Mar, 2016 12:00am
Indian priest held by suspected IS militants in Yemen

Indian priest held by suspected IS militants in Yemen

An Indian priest missing after an attack on a care home run in Yemen is being held by the assailants, likely militants from the Islamic State group, officials said Sunday. Yemeni authorities have blamed IS for the Friday attack on the refuge for the elder
Published 07 Mar, 2016 12:00am
Britain faces 'golden opportunity' outside EU, says London mayor

Britain faces 'golden opportunity' outside EU, says London mayor

London's influential mayor on Sunday denied personal ambition was behind his decision to campaign for Britain to leave the European Union and said it was a "golden opportunity" for the country to forge its own trade deals with the world.
Published 07 Mar, 2016 12:00am
Germany's Schaeuble says Brexit would be economic 'poison'

Germany's Schaeuble says Brexit would be economic 'poison'

A British vote to leave the European Union would damage the British, European and global economies, German Finance Minister Wolfgang Schaeuble said in an interview with the BBC. A British exit following a June 23 membership referendum would rock the EU by
Published 07 Mar, 2016 12:00am
Armed men kill 12 in Central African Republic

Armed men kill 12 in Central African Republic

Armed men killed 12 people in villages in Central African Republic, local officials said on Sunday, in the first violence since Faustin-Archange Touadera was confirmed as president last Tuesday after an election many hoped would help end attacks. The atta
Published 07 Mar, 2016 12:00am
Turkish opposition newspaper turns pro-government after state takeover

Turkish opposition newspaper turns pro-government after state takeover

A day after Turkey's top-selling newspaper Zaman was taken over by the state, it dropped its criticisms of the government on Sunday and published flattering stories on President Tayyip Erdogan. The episode is the latest twist in a long-running conflict be
Published 07 Mar, 2016 12:00am
Commonwealth Bank boss admits insurer wrong on heart attack claims

Commonwealth Bank boss admits insurer wrong on heart attack claims

The chief executive of Australia's largest bank has admitted its CommInsure insurance business had used an outdated and discredited definition of a severe heart attack to deny some claims from clients, and said he would apologise to any customers who were
Published 07 Mar, 2016 12:00am
Russian embassy in Kiev protests over damage to its cars

Russian embassy in Kiev protests over damage to its cars

Russia's embassy in Kiev sent a note of protest to Ukraine's foreign ministry on Sunday about attacks on the embassy's cars, the RIA news agency quoted embassy spokesman Oleg Grishin as saying.
Published 07 Mar, 2016 12:00am
Wall Street week ahead: stocks almost erase 2016 losses as bulls charge

Wall Street week ahead: stocks almost erase 2016 losses as bulls charge

The bulls have gained the upper hand in the US stock market in recent weeks and strategists are cautiously optimistic the rebound will continue. A lot is riding on whether economic data can continue to hold up, since upbeat reports in recent weeks have ea
Published 07 Mar, 2016 12:00am
Egypt's central bank holds exceptional $500 million FX auction
Exchange

Egypt's central bank holds exceptional $500 million FX auction

Egypt's central kept bank kept the pound stable at 7.7301 pounds against the dollar at an exceptional auction on Sunday for the sale of $500 million to cover imports of strategic goods, bankers said, pumping more foreign exchange into an economy that has
Published 07 Mar, 2016 12:00am
Egypt's Pioneers to complete Rooya listing in second half 2016

Egypt's Pioneers to complete Rooya listing in second half 2016

Pioneers Holding, one of Egypt's largest financial services firms, expects to complete a 2 billion Egyptian pound ($255 million) initial share offering of property developer Rooya Group in the second half of this year.
Published 07 Mar, 2016 12:00am
European funds cut equity holdings, raise bonds

European funds cut equity holdings, raise bonds

European funds cut their equity exposure in February to the lowest since December 2014 while raising holdings of bonds and non-conventional assets as a global stock market sell-off stretched into its fourth month.
Published 07 Mar, 2016 12:00am
European funds cut equity holdings, raise bonds

European funds cut equity holdings, raise bonds

European funds cut their equity exposure in February to the lowest since December 2014 while raising holdings of bonds and non-conventional assets as a global stock market sell-off stretched into its fourth month.
Published 07 Mar, 2016 12:00am
Bangladesh's interbank forex and interest rates

Bangladesh's interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Sunday. 78.45-78.45 (previous 78.45-78.45). 02.25-04.50 percent (* previous 01.40-04.50 percent). (* revised).
Published 07 Mar, 2016 12:00am
Gulf markets gain as oil nears $39
Exchange

Gulf markets gain as oil nears $39

Firmer oil prices and a revival of global risk appetite helped lift stock markets in the Middle East on Sunday, as heavyweight petrochemical firms and banks boosted Saudi Arabia's bourse in heavy trade. Moody's Investors Service put the debt ratings of Sa
Published 07 Mar, 2016 12:00am
Dollar still in favour, but recent losses unlikely to be recouped

Dollar still in favour, but recent losses unlikely to be recouped

The dollar will appreciate against major currencies in the coming months, a Reuters poll found, but not enough to make up for the losses incurred just before and since the Federal Reserve raised interest rates in December. Since December, investors have r
Published 07 Mar, 2016 12:00am
RWE subsidiary Npower to axe 2,500 British jobs

RWE subsidiary Npower to axe 2,500 British jobs

British energy provider Npower, a subsidiary of German giant RWE, will announce this week that it is cutting 2,500 jobs, according to media reports on Sunday. This means losing more than a fifth of the 11,500 jobs which Npower's operations support in Brit
Published 07 Mar, 2016 12:00am
Commerzbank names retail bank head Zielke as new CEO

Commerzbank names retail bank head Zielke as new CEO

Germany's Commerzbank has named retail banking head Martin Zielke as its next chief executive officer from May 1, as the country's second-biggest lender prepares to set medium-term targets.
Published 07 Mar, 2016 12:00am
Egypt replaces head of agriculture quarantine authority

Egypt replaces head of agriculture quarantine authority

Egypt has appointed a new head of its agriculture quarantine authority, the ministry of agriculture said on Sunday, replacing Saad Moussa, who has been at the centre of a controversy over the country's wheat imports.
Published 07 Mar, 2016 12:00am
British retailers invite rival brands to fill their empty spaces

British retailers invite rival brands to fill their empty spaces

As online deliveries surge and shop sales fall, Britain's retailers are looking to refit their once bustling superstores with new attractions such as rivals' fashion brands to fill empty spaces and keep shoppers coming through the door.
Published 07 Mar, 2016 12:00am
Faith in central banks' healing powers faltering: BIS
Currency

Faith in central banks' healing powers faltering: BIS

Financial markets' shaky start to the year shows they are losing faith in the "healing powers" of central banks, the Bank for International Settlements (BIS) said on Sunday while voicing concerns over sub-zero interest rates and emerging economies.
Published 07 Mar, 2016 12:00am
Pilot shortage hits US regional airlines

Pilot shortage hits US regional airlines

Mid-sized and regional airlines in the US are suffering from a pilot shortage that could threaten the health of the broader US aviation industry. The labour shortfall has led to cancelled flights at carriers like Mesa Airlines and Silver Airways. That has
Published 07 Mar, 2016 12:00am
Germany's economic engine throttles back over 'what if' uncertainties

Germany's economic engine throttles back over 'what if' uncertainties

Nervousness among buyers of German goods around the world - often over problems that have yet to materialise - is forcing some of the nation's small- and mid-sized manufacturers to postpone investments, and threatening to stunt economic growth.
Published 07 Mar, 2016 12:00am
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