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Print - 2016-08-21
China's $4.5 billion in corn subsidies to support output

China's $4.5 billion in corn subsidies to support output

China's new subsidies for corn growers in the northern grain belt will encourage farmers to keep growing the grain, an official think-tank said on Wednesday, potentially threatening an attempt to bring output more in line with market demand. China will al
Published 21 Aug, 2016 12:00am
Tirah beckons to its residents

Tirah beckons to its residents

Given their height, treacherous terrain and luxuriant vegetation the valleys of Shawal in North Waziristan and Tirah in Khyber Agency had been terrorists' safest havens, an advantage all the more strategic for their high-altitude mountain passes into Afgh
Published 21 Aug, 2016 12:00am
Green railway corridor

Green railway corridor

As if despite so much attention and finances gone into it the city of Lahore is still not fresh and green, and therefore one more such move is afoot - on both sides of the 40-kilomter rail track from Shahdara to Raiwind a green belt would be developed. Co
Published 21 Aug, 2016 12:00am
Governance and accountability

Governance and accountability

International experience and history inform that public sector governance and accountability hold key position to achieve growth, development, and prosperity. However, in Pakistan, the dialogue remains focused narrowly on corruption and its outcomes. No s
Published 21 Aug, 2016 12:00am
The quest for warm waters

The quest for warm waters

British Prime Minister Clement Attlee had rightly stated, "he who rules the Mediterranean Sea rules the world". In today's tri-polar world struggles for mastery over the Mediterranean have restarted with different dimensions. The United States controls mo
Published 21 Aug, 2016 12:00am
French beach burkini ban sparks disdain across the sea

French beach burkini ban sparks disdain across the sea

The ban on the Islamic burkini swimsuit on some French beaches has triggered disdain in English-speaking countries, where outlawing religion-oriented clothing is seen as hampering integration. Newspaper commentators have condemned the ban as an absurdity,
Published 21 Aug, 2016 12:00am
Power lost in distribution system

Power lost in distribution system

This is apropos a Business Recorder news item "During three years: Huge amount of power lost in distribution system" carried by the newspaper on August 16 is both timely and important since no step has been taken to curtail this enormous loss (50 b
Published 21 Aug, 2016 12:00am
President urges people to foil enemy's nefarious designs

President urges people to foil enemy's nefarious designs

President Mamnoon Hussain says forces inimical to Pakistan are engaged in conspiring against China Pakistan Economic Corridor Project and Balochistan and Gilgit-Baltistan are their special targets. He was addressing a laptop distributing ceremony among br
Published 21 Aug, 2016 12:00am
Four killed, 3 hurt in Kohat firing

Four killed, 3 hurt in Kohat firing

At least four people including Chairman Village Council were killed and three injured when unidentified gunmen opened fire at a car in Kohat on Saturday. According to reports, some unknown armed men opened firing at a vehicle in Shakardara area of Lachi t
Published 21 Aug, 2016 12:00am
Agriculture sector be included in CPEC: Jawad

Agriculture sector be included in CPEC: Jawad

Chairman Regional Standing Committee of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) on Agriculture, Ahmad Jawad has proposed that agriculture sector should be included in the China-Pakistan Economic Corridor (CPEC). In a statement issue
Published 21 Aug, 2016 12:00am
Judicious research demands full concentration: Wapda chief

Judicious research demands full concentration: Wapda chief

Chairman, Water and Power Development Authority (WAPDA), Zafar Mahmood Saturday said that judicious research is an area which demands full concentration because Pakistan needs advanced and sophisticated technologies which we should develop through our own
Published 21 Aug, 2016 12:00am
Panama Papers: opposition yet to forge grand anti-government alliance

Panama Papers: opposition yet to forge grand anti-government alliance

Opposition political parties have yet to forge a grand alliance for joint action against the government after a parliamentary committee failed to frame Terms of Reference (ToRs) to probe the Panama papers. Each political party has its own agenda and its o
Published 21 Aug, 2016 12:00am
Kashmiri teacher beaten to death by soldiers, admits Indian Army

Kashmiri teacher beaten to death by soldiers, admits Indian Army

Amid protests in Kashmir, the Indian army admitted on Saturday that a 32-year-old schoolteacher was beaten to death by its soldiers during overnight raids at a village and called it "absolutely unjustified and unacceptable". Shabir Ahmad Mangoo, who taugh
Published 21 Aug, 2016 12:00am
BSF, Rangers to open more lines for contact

BSF, Rangers to open more lines for contact

Even as India and Pakistan are engaged in a bitter confrontation over Kashmir, the forces guarding the borders of the two countries have decided to open more lines of communication. India's Border Security Force and their counterparts, the Pakistan Ranger
Published 21 Aug, 2016 12:00am
Elders of Mohmand demand basic facilities on return

Elders of Mohmand demand basic facilities on return

Tribal elders of Musa Khel, Issa Khel and Khuga Khel of Mohmand agency demanded of the government to provide all the basic facilities and they are ready to return their areas but according to their tribal customs and norms with due respect.
Published 21 Aug, 2016 12:00am
Kashmir dispute: India showing no seriousness: Maleeha

Kashmir dispute: India showing no seriousness: Maleeha

Pakistan Permanent Representative to the UN Dr Maleeha Lodhi on Saturday said India was non-serious in finding a solution to the Kashmir dispute. It was obligatory upon the United Nations to persuade the Indian government for peaceful settlement of the lo
Published 21 Aug, 2016 12:00am
16-point notice issued to enhance security for private schools

16-point notice issued to enhance security for private schools

Sindh Director Schools has issued a 16-point instruction notice in a bid to boost security arrangements at all private schools across the province, reported Saturday. According to instructions, administration of schools will have to issue passes for visit
Published 21 Aug, 2016 12:00am
Two bogies of Sukkur Express derailed

Two bogies of Sukkur Express derailed

Two bogies of Karachi-bound Sukkur Express derailed near Rohri Railway Station on Saturday. However, no one was reported injured in the accident, sources said. The rescue teams rushed to the scene after the incident and the relief effort helped in providi
Published 21 Aug, 2016 12:00am
Sindh Cabinet approves draft of madrassah registration bill

Sindh Cabinet approves draft of madrassah registration bill

Sindh Cabinet has approved the draft of Sindh Maddaris Registration Bill on Saturday. The provincial cabinet meeting was headed by Sindh Chief Minister Syed Murad Ali Shah in Karachi. According to the spokesman for Chief Minister House, a committee headed
Published 21 Aug, 2016 12:00am
PBIF chief lauds Prime Minister's decision of BoI restructuring

PBIF chief lauds Prime Minister's decision of BoI restructuring

President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain has lauded decision of Prime Minister Nawaz Sharif to restructure the Board of Investment (BoI). The move would save sizable amount of resources which could be utilised in ot
Published 21 Aug, 2016 12:00am
ICMAP and the Privilege Club signs MoU on discount for ICMAP

ICMAP and the Privilege Club signs MoU on discount for ICMAP

ICMA Pakistan and The Privilege Club, a project of Pakistan Services Ltd, have signed a Memorandum of Understanding for a discount on Privilege Club membership to the members and employees of the ICMA Pakistan. The MOU signing ceremony was attended by Moh
Published 21 Aug, 2016 12:00am
Gem, jewelry export reaches to $8.492 million in fiscal year 2016

Gem, jewelry export reaches to $8.492 million in fiscal year 2016

Pakistan's jewelry export reached $8.492 million last fiscal year 2015-16, up by 29 percent, official figures indicate. Jewelry export shows a growth of $1.898 million last fiscal year from $6.594 million in fiscal year 2014-15, Pakistan Bureau of Statist
Published 21 Aug, 2016 12:00am
Auto financing sees rapid growth in two years

Auto financing sees rapid growth in two years

Auto financing has seen rapid growth over last two years, said third edition of the auto industry survey published by PakWheels.com. The survey has thrown light onto the car buying habits of Pakistanis with 60 percent of the survey respondents buying used
Published 21 Aug, 2016 12:00am
Gharibwal Cement announces expansion of clinker output capacity

Gharibwal Cement announces expansion of clinker output capacity

Gharibwal Cement (GWLC) has announced its intentions to expand its production capacity by 8,000 TPD, translating into 2.4 million tons of annual additional clinker production capacity. According to a notice sent to the Pakistan Stock Exchange, foreseeing
Published 21 Aug, 2016 12:00am
45th martyrdom anniversary of Rashid Minhas observed

45th martyrdom anniversary of Rashid Minhas observed

The 45th martyrdom anniversary of brave and courageous Rashid Minhas was observed on Saturday. Rashid Minhas is the youngest officer who received the Nishan-e-Haider award. He is the only recipient of the highest honor of gallantry from Pakistan Air Force
Published 21 Aug, 2016 12:00am
PakWheels.com survey unveils new insights into Pakistan's auto industry

PakWheels.com survey unveils new insights into Pakistan's auto industry

Third edition of the auto industry survey published lately by PakWheels.com, an auto portal, has revealed new insights into the automotive sector of Pakistan, including people's buying and selling habits, patterns and preferences. Due to the large sample
Published 21 Aug, 2016 12:00am
Durrani visits hunger strike camp of MQM

Durrani visits hunger strike camp of MQM

Speaker Sindh Assembly Agha Siraj Durrani on Saturday visited the hunger strike camp of Muttahida Qaumi Movement (MQM) setup outside the Karachi Press Club against missing of party workers. The protest has entered its 4th day with scores of MQM workers ar
Published 21 Aug, 2016 12:00am
Punjab government setting up girls' high school in each UC

Punjab government setting up girls' high school in each UC

The Punjab government is setting up girls' high school in each union council while 35,000 new classrooms will also be constructed in the government schools in all 36 districts of the province. Punjab Minister for Education Rana Mashhood Ahmed Khan reveale
Published 21 Aug, 2016 12:00am
PAD's plan to improve productivity through soil diagnostics

PAD's plan to improve productivity through soil diagnostics

Punjab Agriculture Department (PAD) has evolved a comprehensive plan for improving productivity and profitability through soil diagnostics for the promotion of balanced use of macro and micro fertilizers and soil amendments. Sources in Agriculture departm
Published 21 Aug, 2016 12:00am
UVAS, FJMU sign MoUs to improve nutritional status of masses

UVAS, FJMU sign MoUs to improve nutritional status of masses

The University of Veterinary and Animal Sciences Lahore (UVAS) and Fatima Jinnah Medical University (FJMU) Lahore on Saturday signed two memoranda of understanding (MoUs) for improving nutritional status of masses through research, educational activities
Published 21 Aug, 2016 12:00am
'Vocational training a must to root out unemployment'

'Vocational training a must to root out unemployment'

Best possible vocational training in traditional as well as modern trades is imperative to root out the menace of unemployment, said Ahmad Hasan Chairman Board of Directors (BoD) of the Punjab Vocational Training Council (PVTC). Chairing the introductory
Published 21 Aug, 2016 12:00am
Jamaat-e-Islami member assassinated

Jamaat-e-Islami member assassinated

A local leader of the Jamaat-e-Islami from the city, Mirza Tanweer Ahmed, was gunned down by two motor cycle riders near Sessions Court on Saturday. Mirza Tanweer had been JI candidate for Chairmanship from Yakki Gate falling in the NA constituency of PML
Published 21 Aug, 2016 12:00am
India's interference: Liaqat urges Prime Minister for evolving strategy

India's interference: Liaqat urges Prime Minister for evolving strategy

Secretary General, Jamaat-e-Islami, Liaqat Baloch, has impressed upon the Prime Minister to take the national leadership into confidence for evolving a strategy to end India's interference in Balochistan. Addressing party meetings in the city on Saturday,
Published 21 Aug, 2016 12:00am
Nestlé Pakistan records 5.8 percent growth in H1

Nestlé Pakistan records 5.8 percent growth in H1

Nestlé Pakistan boosted its overall earnings by 3.47 percent for the six months ended on June 30, 2016. Nestlé Pakistan has witnessed an overall increase in its total revenue by almost Rs 3.1 billion. Nestlé Pakistan revenue stood at Rs 56.3 billion, 5.8
Published 21 Aug, 2016 12:00am
Nestlé Pakistan records 5.8 percent growth in H1

Nestlé Pakistan records 5.8 percent growth in H1

Nestlé Pakistan boosted its overall earnings by 3.47 percent for the six months ended on June 30, 2016. Nestlé Pakistan has witnessed an overall increase in its total revenue by almost Rs 3.1 billion. Nestlé Pakistan revenue stood at Rs 56.3 billion, 5.8
Published 21 Aug, 2016 12:00am
PU, Meezan Bank organise job fair

PU, Meezan Bank organise job fair

Punjab University Hailey College of Banking & Finance (HCBF) in collaboration with the Premier Islamic Bank of Pakistan, Meezan Bank Limited organised a job fair at campus on Saturday. Mehdi Abbas, Asim Hussain, Muzamil Hussain of Meezan Bank Limited, acc
Published 21 Aug, 2016 12:00am
Eid-ul-Azha: surveillance of animals to detect Congo virus under way

Eid-ul-Azha: surveillance of animals to detect Congo virus under way

As arrival of sacrificial animals for upcoming Eid-ul Azha has started in the cattle markets set up in the provincial metropolis and other major cities, health and livestock authorities have adopted necessary measures to check spread of virus. Pursuant to
Published 21 Aug, 2016 12:00am
UAF holds seminar on seed production technology

UAF holds seminar on seed production technology

Speakers have called for tangible steps to pave the way for production of indigenous on-farm vegetable seeds as the country is spending a huge foreign exchange of 6 billion rupees annually on imported vegetable seeds. They were addressing at one-day semin
Published 21 Aug, 2016 12:00am
PTI candidate for UC chairmanship gunned down

PTI candidate for UC chairmanship gunned down

Armed men gunned down a PTI candidate for the post of chairmanship of union council here on Saturday. Police said that armed men opened fire at PTI candidate for chairman from UC-33 Lahore, Tanveer Ahmed leaving him critically injured and fled from the sc
Published 21 Aug, 2016 12:00am
Pakistanis in Damam suffer from cardiovascular disorders

Pakistanis in Damam suffer from cardiovascular disorders

A number of distressed Pakistani employees stranded in Saudi Arabia suffer from cardiovascular disorders after the organizations they worked for got bankrupted and eventually failed to provide the employees with their wages for a number of months. The res
Published 21 Aug, 2016 12:00am
Police fail to control auto thefts in Capital

Police fail to control auto thefts in Capital

Islamabad Police have failed to control street crimes and car thefts in the Federal Capital, as an increase in the incidents of robberies, burglaries, motor vehicle theft, murder and kidnappings were witnessed during the last week. According to data gathe
Published 21 Aug, 2016 12:00am
FBR proposes Inland Revenue Welfare Fund rules

FBR proposes Inland Revenue Welfare Fund rules

The Federal Boar d of Revenue (FBR) has decided that any amount contributed, granted or allocated by the federal government, FBR or FBR Foundation shall be transferred to the Central Inland Revenue Welfare Fund Board for providing personal loans to IR off
Published 21 Aug, 2016 12:00am
PAT workers organize 'Qisas rally' in Peshawar

PAT workers organize 'Qisas rally' in Peshawar

Demanding justice against the killing of Model Town, Lahore episode, workers of Pakistan Awami Tehreek (PAT) on Saturday took out Qisas rally from Peshawar Cantt and gathered in front of press club. Amid chanting full-throated slogans against the incumben
Published 21 Aug, 2016 12:00am
Four bullet-riddled bodies recovered in Kalat

Four bullet-riddled bodies recovered in Kalat

Four bullets riddled bodies were recovered in Gorbarat area of Kalat district of Balochistan on Saturday. According to Levies sources, the Levies personnel recovered dead bodies of four persons, who were shot dead by some unknown persons.
Published 21 Aug, 2016 12:00am
Pakistani pharmaceutical company to operate in France

Pakistani pharmaceutical company to operate in France

A Pakistani Pharmaceutical company, Martin Dow has acquired a pharmaceutical manufacturing facility in Meymac, France. The facility was earlier owned by the renowned pharmaceutical firm Bristol-Myers Squibb. President Francois Hollande of France, who is t
Published 21 Aug, 2016 12:00am
Pro-women legislations Training to build lawyers' capacity conducted

Pro-women legislations Training to build lawyers' capacity conducted

Blue Veins is implementing the project "Strengthening District Bar Associations and setting up Facilitation Kiosks in District Court" Peshawar in collaboration with District Bar Association under Gender Equity Program (GEP) of Aurat foundation supported b
Published 21 Aug, 2016 12:00am
KP minister lauds IGP for reforming police training, education

KP minister lauds IGP for reforming police training, education

Khyber Pakhtunkhwa Minister for Finance, Muzaffar Said Advocate has given the credit for launching revolutionary initiatives and reforms in the police training and education system to the Inspector General of Police (IGP) Nasir Khan Durrani. He was addres
Published 21 Aug, 2016 12:00am
Hospital Day observed

Hospital Day observed

Hospital Day was observed in the DHQ and THQ Hospitals in the district in order to inspect the medical services delivery and other administrative arrangements. Divisional Commissioner Momin Agha and DCO Salman Ghani separately visited the DHQ Hospital and
Published 21 Aug, 2016 12:00am
London Metal Exchange to launch gold spot, futures contracts

London Metal Exchange to launch gold spot, futures contracts

The London Metal Exchange (LME) is planning to launch spot and futures contracts for gold and silver in the first half of 2017, adding to its list of products which includes copper and aluminium. The 139-year old exchange is working in collaboration with
Published 21 Aug, 2016 12:00am
India's soyabean output set to rise on plentiful rains

India's soyabean output set to rise on plentiful rains

India's soyabean output is set to rise this year after good early monsoon rains prompted farmers to plant more of the oilseed in June and July, helping the world's top vegetable oil importer cut overseas purchases of the cooking ingredient. Indians use ar
Published 21 Aug, 2016 12:00am
French wheat exports outside EU seen tumbling to 4.8 million tonnes

French wheat exports outside EU seen tumbling to 4.8 million tonnes

France's exports of soft wheat outside the EU will fall to 4.8 million tonnes in 2016/17 from an estimated 12.5 million last season due to a weather-hit harvest in the bloc's biggest grain grower, agricultural group InVivo forecast on Wednesday. French so
Published 21 Aug, 2016 12:00am
Russian ministry proposes zero wheat export tax
Currency

Russian ministry proposes zero wheat export tax

The Russian agriculture ministry has proposed reducing a floating wheat export tax to zero until July 1, 2017, Russian news agencies reported on Friday, citing a senior official at the ministry. The official's comments dented the hopes of traders who had
Published 21 Aug, 2016 12:00am
Russian ministry proposes zero wheat export tax
Currency

Russian ministry proposes zero wheat export tax

The Russian agriculture ministry has proposed reducing a floating wheat export tax to zero until July 1, 2017, Russian news agencies reported on Friday, citing a senior official at the ministry. The official's comments dented the hopes of traders who had
Published 21 Aug, 2016 12:00am
China smelters face lowest fees in four years as zinc market tightens

China smelters face lowest fees in four years as zinc market tightens

China's huge zinc smelting industry has slashed its fees for turning ore concentrates into refined metal by 20 percent as competition for dwindling global mine output heats up, industry sources said this week. The move could signal an impending squeeze in
Published 21 Aug, 2016 12:00am
Britain stun Dutch for first women's hockey gold

Britain stun Dutch for first women's hockey gold

Great Britain won their first Olympic Games women's hockey gold medal on Friday with a dramatic shoot-out triumph over two-time defending champions the Netherlands. The British twice came from behind in normal time to draw 3-3 and then clinched a 2-0 shoo
Published 21 Aug, 2016 12:00am
Saudi Arabia to let foreign institutions buy shares in IPOs

Saudi Arabia to let foreign institutions buy shares in IPOs

Saudi Arabia will permit foreign institutional investors to buy shares directly in initial public offers, a move that could help the government sell billions of dollars' worth of stakes in state companies including oil giant Saudi Aramco. New rules publis
Published 21 Aug, 2016 12:00am
Saudi Arabia to let foreign institutions buy shares in IPOs

Saudi Arabia to let foreign institutions buy shares in IPOs

Saudi Arabia will permit foreign institutional investors to buy shares directly in initial public offers, a move that could help the government sell billions of dollars' worth of stakes in state companies including oil giant Saudi Aramco. New rules publis
Published 21 Aug, 2016 12:00am
Worlds apart: ratings woes hurt Portuguese bonds as Spanish bonds shine

Worlds apart: ratings woes hurt Portuguese bonds as Spanish bonds shine

Portuguese bond yields hit a three-week high and were on track for their biggest weekly rise since May, as concerns about the country's ratings outlook remained in focus ahead of a Fitch Ratings review later in the day. In neighbouring Spain the yield on
Published 21 Aug, 2016 12:00am
Worlds apart: ratings woes hurt Portuguese bonds as Spanish bonds shine

Worlds apart: ratings woes hurt Portuguese bonds as Spanish bonds shine

Portuguese bond yields hit a three-week high and were on track for their biggest weekly rise since May, as concerns about the country's ratings outlook remained in focus ahead of a Fitch Ratings review later in the day. In neighbouring Spain the yield on
Published 21 Aug, 2016 12:00am
Turkey's Sisecam to hold off on glassware IPO

Turkey's Sisecam to hold off on glassware IPO

Turkey's Sisecam will hold off on plans to list its Pasabahce glassware business due to weak stock market conditions, its general manager told Reuters, adding that sales were hurt by last month's failed coup attempt. Sisecam, Europe's second-largest produ
Published 21 Aug, 2016 12:00am
Turkey's Sisecam to hold off on glassware IPO

Turkey's Sisecam to hold off on glassware IPO

Turkey's Sisecam will hold off on plans to list its Pasabahce glassware business due to weak stock market conditions, its general manager told Reuters, adding that sales were hurt by last month's failed coup attempt. Sisecam, Europe's second-largest produ
Published 21 Aug, 2016 12:00am
Treasuries outlook: US bond prices fall ahead of auctions, Yellen speech

Treasuries outlook: US bond prices fall ahead of auctions, Yellen speech

US Treasury prices fell on Friday as traders booked profits in advance of government debt auctions next week and a marquee annual meeting of global central bankers at which Federal Reserve Chair Janet Yellen is scheduled to speak. Analysts expect Yellen t
Published 21 Aug, 2016 12:00am
Treasuries outlook: US bond prices fall ahead of auctions, Yellen speech

Treasuries outlook: US bond prices fall ahead of auctions, Yellen speech

US Treasury prices fell on Friday as traders booked profits in advance of government debt auctions next week and a marquee annual meeting of global central bankers at which Federal Reserve Chair Janet Yellen is scheduled to speak. Analysts expect Yellen t
Published 21 Aug, 2016 12:00am
Wall Street dips as investors assess rate outlook

Wall Street dips as investors assess rate outlook

US stocks edged lower on Friday, led by declines in utility shares as investors weighed prospects for an interest rate increase in the coming months. Energy shares also weighed on the market, even though US crude oil prices settled higher. The S&P utility
Published 21 Aug, 2016 12:00am
Offshore dollar money fund assets post big drop

Offshore dollar money fund assets post big drop

Overseas dollar-denominated money market funds posted their biggest drop in assets for 2016 last week, led by a steep fall in prime fund assets, the Offshore Money Fund Report said on Tuesday. Total offshore dollar fund assets tumbled $16.19 billion in th
Published 21 Aug, 2016 12:00am
Foreign banks storm dollar market in search of cheaper funding
Currency

Foreign banks storm dollar market in search of cheaper funding

Yankee bank issuance has soared this month as tighter spreads, favourable currency moves and huge demand for higher-yielding US assets has lowered the cost of borrowing in US dollars. Asian and European banks have raised over US $23bn in August, or almost
Published 21 Aug, 2016 12:00am
Foreign banks storm dollar market in search of cheaper funding
Currency

Foreign banks storm dollar market in search of cheaper funding

Yankee bank issuance has soared this month as tighter spreads, favourable currency moves and huge demand for higher-yielding US assets has lowered the cost of borrowing in US dollars. Asian and European banks have raised over US $23bn in August, or almost
Published 21 Aug, 2016 12:00am
US dollar net longs fall, sterling net shorts hit record high

US dollar net longs fall, sterling net shorts hit record high

Speculators reduced favourable bets on the US dollar for a third straight week, paring net longs to their smallest in five weeks, as investors were doubtful the Federal Reserve would raise rates this year. The value of the dollar's net long position fell
Published 21 Aug, 2016 12:00am
Dollar rebounds after Fed's Williams adds support for rate hike
Currency

Dollar rebounds after Fed's Williams adds support for rate hike

The US dollar rebounded from nearly eight-week lows against the euro and Swiss franc on Friday a day after a top Federal Reserve official joined a growing chorus signalling support for a US interest rate hike in coming months. San Francisco Fed President
Published 21 Aug, 2016 12:00am
Currency market volumes fall 10 percent in July
Currency

Currency market volumes fall 10 percent in July

Average daily trading in the global currency market shrank by just under 10 percent last month, falling back to $4.7 trillion after hitting the highest level in more than a year on the back Britain's vote in June to leave the European Union. Data from set
Published 21 Aug, 2016 12:00am
Canadian dollar weakens
Currency

Canadian dollar weakens

The Canadian dollar weakened against its broadly firmer US counterpart on Friday after domestic retail sales data disappointed, although some losses were pared as oil prices rose. Friday's loss snapped a nearly two-week winning streak for the loonie, acco
Published 21 Aug, 2016 12:00am
Japan MOF says ready to respond to excessive FX moves
Currency

Japan MOF says ready to respond to excessive FX moves

Japan's top currency diplomat, Masatsugu Asakawa, warned investors on Wednesday against pushing up the yen too fast, saying Tokyo would respond to excessive market moves. Asakawa made the comment to reporters when asked about the dollar's fall to a seven-
Published 21 Aug, 2016 12:00am
Brazil has few options to limit real's surge
Currency

Brazil has few options to limit real's surge

There is not much the Brazilian government can do to halt an appreciation in its real currency that is set to continue, given high liquidity abroad and less political uncertainty at home, a senior member of the economic team told Reuters. The government w
Published 21 Aug, 2016 12:00am
Liverpool rocked by Burnley, City stroll

Liverpool rocked by Burnley, City stroll

Liverpool crashed to an embarrassing 2-0 defeat at Burnley on Saturday, while Manchester City crushed Stoke City 4-1 to extend Pep Guardiola's perfect start in the Premier League. Jurgen Klopp's Liverpool enjoyed the most eye-catching result of the Premie
Published 21 Aug, 2016 12:00am
Rain delays play on third day in Trinidad

Rain delays play on third day in Trinidad

Continuing problems with a rain-sodden outfield again delayed the start of play on the scheduled third day of the fourth and final Test between the West Indies and India at the Queen's Park Oval in Trinidad on Saturday. Only 22 overs were bowled on the fi
Published 21 Aug, 2016 12:00am
Steyn strikes twice on Test return

Steyn strikes twice on Test return

After eight months of frustration, South African fast bowler Dale Steyn left the field at Kingsmead on Saturday with "a smile on his face", according to bowling coach Charl Langeveldt. Unfortunately for Steyn and his fellow bowlers, they walked off at lun
Published 21 Aug, 2016 12:00am
Azhar ready for England series

Azhar ready for England series

Pakistan one-day captain Azhar Ali is happy with his side's preparation for next week's one-day series against England despite the second ODI against Ireland being abandoned without a ball being bowled on Saturday. The overnight rain did not stop until an
Published 21 Aug, 2016 12:00am
TV umpire to call no-balls in England-Pakistan ODIs

TV umpire to call no-balls in England-Pakistan ODIs

A system where the third umpire is responsible for the calling of front-foot no-balls will be trialled during the upcoming England-Pakistan one-day series, the International Cricket Council announced Saturday. The standing umpire at the bowler's end is cu
Published 21 Aug, 2016 12:00am
China's Lin leaves Rio empty-handed

China's Lin leaves Rio empty-handed

Chinese superstar Lin Dan, regarded by some as badminton's greatest-ever player, left the Rio Games empty-handed on Saturday after losing the men's singles bronze medal match to Viktor Axelsen. The Danish 22-year-old came from behind to win 15-21, 21-10,
Published 21 Aug, 2016 12:00am
New cuts to Rio Paralympics

New cuts to Rio Paralympics

Rio Paralympics organisers are to close a venue and media facilities, cut staff and shrink stadium capacities in a desperate bid to reduce costs before the Games start next month, officials said Friday. About 10 countries will struggle to get athletes to
Published 21 Aug, 2016 12:00am
Iran's Yazdani wins men's freestyle wrestling 74kg gold

Iran's Yazdani wins men's freestyle wrestling 74kg gold

Iran's Hassan Yazdani won a thrilling men's freestyle wrestling final against heavily-bandaged Aniuar Geduev to claim Olympic gold in Rio on Friday. Yazdani scored the winning points just seconds from the end of the under-74kg title bout against a Russian
Published 21 Aug, 2016 12:00am
Israel extends Palestinian journalist's detention: NGO

Israel extends Palestinian journalist's detention: NGO

Israeli authorities have extended by three months the detention without trial of a Palestinian journalist who had been due for release on Monday, a Palestinian NGO said on Saturday. The Ramallah-based Palestinian Prisoners Club said it had been informed b
Published 21 Aug, 2016 12:00am
US, Ukraine urge end to soaring tensions with Russia

US, Ukraine urge end to soaring tensions with Russia

US Vice President Joe Biden and Ukraine's President Petro Poroshenko in a phonecall urged a speedy resolution to the conflict with pro-Russian separatists amid a spike in tensions with Moscow, the White House said late Friday. Biden and Poroshenko "expres
Published 21 Aug, 2016 12:00am
After the protests, anger still boils in northern Ethiopia

After the protests, anger still boils in northern Ethiopia

The demonstrations are crushed but anger remains in Bahir Dar, capital of Ethiopia's northern Amhara region, where a fortnight ago security forces killed at least 30 protesters, according to a human rights group. "I would say at least 50 people!" said Get
Published 21 Aug, 2016 12:00am
Strong 6.0 quake hits northern Japan

Strong 6.0 quake hits northern Japan

A strong earthquake struck off the coast of northern Japan for a third consecutive day early Sunday though there were no immediate reports of people injured or damage. The shallow 6.0 magnitude quake hit at 00:58 am (1558 GMT Saturday) 170 kilometres (105
Published 21 Aug, 2016 12:00am
Congolese vote delay keeps Kabila in power after mandate ends

Congolese vote delay keeps Kabila in power after mandate ends

Congo's next election will be delayed until at least July 2017, the election commission said on Saturday, allowing long-standing President Joseph Kabila to stay in power beyond the end of his mandate in December. The election's postponement due to funding
Published 21 Aug, 2016 12:00am
Venezuela condemns 'bold threats' from Paraguay

Venezuela condemns 'bold threats' from Paraguay

Venezuela's Foreign Minister Delcy Rodriguez on Saturday condemned what she called "bold threats" from her Paraguayan counterpart after he announced a "total freezing of relations." Paraguayan Foreign Minister Eladio Loizaga announced on Friday that he wo
Published 21 Aug, 2016 12:00am
California firefighters make gains after 100 homes destroyed

California firefighters make gains after 100 homes destroyed

Firefighters gained ground on Friday against a wildfire burning in a Southern California mountain pass that has forced tens of thousands of residents to flee and destroyed about 100 homes, officials said. The Blue Cut fire, named for a narrow gorge near i
Published 21 Aug, 2016 12:00am
Philippine government agrees new truce with Maoist-led rebels

Philippine government agrees new truce with Maoist-led rebels

Philippine President Rodrigo Duterte has agreed a new ceasefire with Maoist-led guerrillas, who declared a truce several hours before, ahead of fresh peace talks in Norway next week, a senior administration official said on Saturday. The ceasefire will co
Published 21 Aug, 2016 12:00am
Former SEAL on Bin Laden raid to forfeit book proceeds

Former SEAL on Bin Laden raid to forfeit book proceeds

The Pentagon has dropped a claim against a former Navy SEAL who wrote about his experiences in the US raid that killed Osama bin Laden, after he agreed to forfeit earnings from the book, his lawyer said Friday. Matt Bissonnette, who in 2012 published a bo
Published 21 Aug, 2016 12:00am
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