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Print - 2016-08-29
556 smuggled vehicles: massive tax evasion detected

556 smuggled vehicles: massive tax evasion detected

Directorate of Post Clearance Audit (DPCA), Karachi has reportedly detected massive tax evasion in 556 smuggled vehicles granted amnesty through scheme in 2013, it was learnt. According to sources, on the directives of the Directorate General of Post Clea
Published 29 Aug, 2016 12:00am
Bulk terminal's commissioning due in December

Bulk terminal's commissioning due in December

The $255 million Pakistan International Bulk Terminal (PIBT) is all set to become operational by the end of this year at Port Qasim, according to PIBT Chief Executive Officer Sharique A. Siddiqui. PIBT is under construction at the country''s secon
Published 29 Aug, 2016 12:00am
Bulk terminal's commissioning due in December

Bulk terminal's commissioning due in December

The $255 million Pakistan International Bulk Terminal (PIBT) is all set to become operational by the end of this year at Port Qasim, according to PIBT Chief Executive Officer Sharique A. Siddiqui. PIBT is under construction at the country's second lar
Published 29 Aug, 2016 12:00am
Bulk terminal's commissioning due in December

Bulk terminal's commissioning due in December

The $255 million Pakistan International Bulk Terminal (PIBT) is all set to become operational by the end of this year at Port Qasim, according to PIBT Chief Executive Officer Sharique A. Siddiqui. PIBT is under construction at the country's second largest
Published 29 Aug, 2016 12:00am
40 dead as Turkish shelling, raids hit Syrians

40 dead as Turkish shelling, raids hit Syrians

Turkish shelling and air strikes killed at least 40 Syrians on Sunday, a monitor said, in the first significant civilian casualties in Turkey's intensifying campaign in northern Syria.
Published 29 Aug, 2016 12:00am
40 dead as Turkish shelling, raids hit Syrians

40 dead as Turkish shelling, raids hit Syrians

Turkish shelling and air strikes killed at least 40 Syrians on Sunday, a monitor said, in the first significant civilian casualties in Turkey's intensifying campaign in northern Syria.
Published 29 Aug, 2016 12:00am
EU nations must not to refuse Muslim migrants: Merkel

EU nations must not to refuse Muslim migrants: Merkel

The refusal of some EU countries to accept Muslim refugees is "unacceptable", Chancellor Angela Merkel said Sunday as Germany called for quotas to divide the influx throughout the bloc.
Published 29 Aug, 2016 12:00am
EU nations must not to refuse Muslim migrants: Merkel

EU nations must not to refuse Muslim migrants: Merkel

The refusal of some EU countries to accept Muslim refugees is "unacceptable", Chancellor Angela Merkel said Sunday as Germany called for quotas to divide the influx throughout the bloc.
Published 29 Aug, 2016 12:00am
4 Terrorists behind Sri Lankan team attack killed in Lahore

4 Terrorists behind Sri Lankan team attack killed in Lahore

Four terrorists were killed in an operation by Counter Terrorism Department (CTD) on Saturday night at Manawan, as arms, explosives were also recovered. According to the Crime Investigation Department (CID) of the Punjab police, seven terrorists attacked
Published 29 Aug, 2016 12:00am
4 Terrorists behind Sri Lankan team attack killed in Lahore

4 Terrorists behind Sri Lankan team attack killed in Lahore

Four terrorists were killed in an operation by Counter Terrorism Department (CTD) on Saturday night at Manawan, as arms, explosives were also recovered. According to the Crime Investigation Department (CID) of the Punjab police, seven terrorists attacked
Published 29 Aug, 2016 12:00am
Qatar to levy airport tax on passengers

Qatar to levy airport tax on passengers

Qatar''s government will levy a new airport tax on passengers from Tuesday, according to a circular to travel agents, as the country seeks new revenue streams amid falling oil prices.
Published 29 Aug, 2016 12:00am
Qatar to levy airport tax on passengers

Qatar to levy airport tax on passengers

Qatar's government will levy a new airport tax on passengers from Tuesday, according to a circular to travel agents, as the country seeks new revenue streams amid falling oil prices.
Published 29 Aug, 2016 12:00am
Qatar to levy airport tax on passengers

Qatar to levy airport tax on passengers

Qatar's government will levy a new airport tax on passengers from Tuesday, according to a circular to travel agents, as the country seeks new revenue streams amid falling oil prices.
Published 29 Aug, 2016 12:00am
Five killed as rains lash Karachi for second day

Five killed as rains lash Karachi for second day

Fresh monsoon rain spell continued on second consecutive day on Sunday, turning the city's weather pleasant, but 5 people lost their lives in different rain-related incidents here. The commuters suffered problems in reaching their destinations as various
Published 29 Aug, 2016 12:00am
Five killed as rains lash Karachi for second day

Five killed as rains lash Karachi for second day

Fresh monsoon rain spell continued on second consecutive day on Sunday, turning the city's weather pleasant, but 5 people lost their lives in different rain-related incidents here. The commuters suffered problems in reaching their destinations as various
Published 29 Aug, 2016 12:00am
Iran arrests N-negotiator suspected of spying

Iran arrests N-negotiator suspected of spying

Iran has arrested a member of the negotiating team that reached a landmark nuclear deal with world powers on suspicion of spying, a judiciary spokesman said on Sunday. The suspect was released on bail after a few days in jail but is still under investigat
Published 29 Aug, 2016 12:00am
Iran arrests N-negotiator suspected of spying

Iran arrests N-negotiator suspected of spying

Iran has arrested a member of the negotiating team that reached a landmark nuclear deal with world powers on suspicion of spying, a judiciary spokesman said on Sunday. The suspect was released on bail after a few days in jail but is still under investigat
Published 29 Aug, 2016 12:00am
MQM MNA Asif Hasnain joins PSP

MQM MNA Asif Hasnain joins PSP

Muttahida Qaumi Movement (MQM) Member National Assembly (MNA) Asif Hasnain on Sunday quit his party, and joined Mustafa Kamal-led Pak Sarzameen Party (PSP). Addressing a press conference at the PSP Secretariat here, Mustafa Kamal welcomed Asif Hasnain an
Published 29 Aug, 2016 12:00am
MQM MNA Asif Hasnain joins PSP

MQM MNA Asif Hasnain joins PSP

Muttahida Qaumi Movement (MQM) Member National Assembly (MNA) Asif Hasnain on Sunday quit his party, and joined Mustafa Kamal-led Pak Sarzameen Party (PSP). Addressing a press conference at the PSP Secretariat here, Mustafa Kamal welcomed Asif Hasnain an
Published 29 Aug, 2016 12:00am
Colombia readies for conflict-ending cease-fire

Colombia readies for conflict-ending cease-fire

A historic midnight cease-fire on Sunday is set to end a 52-year-old war between the Colombian state and rebels of the Revolutionary Armed Forces of Colombia (FARC). Hundreds of thousands of Colombians have died since 1964 as rebel armies and gangs battle
Published 29 Aug, 2016 12:00am
In about turn, Egypt bans ergot fungus in wheat again

In about turn, Egypt bans ergot fungus in wheat again

Egypt reinstated on Sunday a controversial ban on wheat shipments containing even the slightest amount of a common grain fungus, baffling traders who had returned to the Egyptian market just last month when the ban was lifted. The world''s largest wheat i
Published 29 Aug, 2016 12:00am
In about turn, Egypt bans ergot fungus in wheat again

In about turn, Egypt bans ergot fungus in wheat again

Egypt reinstated on Sunday a controversial ban on wheat shipments containing even the slightest amount of a common grain fungus, baffling traders who had returned to the Egyptian market just last month when the ban was lifted. The world's largest wheat im
Published 29 Aug, 2016 12:00am
In about turn, Egypt bans ergot fungus in wheat again

In about turn, Egypt bans ergot fungus in wheat again

Egypt reinstated on Sunday a controversial ban on wheat shipments containing even the slightest amount of a common grain fungus, baffling traders who had returned to the Egyptian market just last month when the ban was lifted. The world's largest wheat im
Published 29 Aug, 2016 12:00am
Saudi prince, PM hold talks

Saudi prince, PM hold talks

Prime Minister Nawaz Sharif and Saudi Defence Minister Prince Mohammed bin Salman discussed bilateral relations between the two countries when the latter met him at the Prime Minister's House on Sunday night.
Published 29 Aug, 2016 12:00am
Saudi prince, PM hold talks

Saudi prince, PM hold talks

Prime Minister Nawaz Sharif and Saudi Defence Minister Prince Mohammed bin Salman discussed bilateral relations between the two countries when the latter met him at the Prime Minister's House on Sunday night.
Published 29 Aug, 2016 12:00am
MQM leaders meet US CG

MQM leaders meet US CG

In a major development, senior leaders of Muttahida Qaumi Movement (MQM) Dr Farooq Sattar and Nasreen Jalil on Sunday met United States Consul General Brian Heath in Karachi and exchanged views on the "plight" of MQM.
Published 29 Aug, 2016 12:00am
MQM leaders meet US CG

MQM leaders meet US CG

In a major development, senior leaders of Muttahida Qaumi Movement (MQM) Dr Farooq Sattar and Nasreen Jalil on Sunday met United States Consul General Brian Heath in Karachi and exchanged views on the "plight" of MQM.
Published 29 Aug, 2016 12:00am
Recovery witnessed

Recovery witnessed

Pakistan shares market ended the future rollover week on a positive note with KSE-100 index gaining one percent Week-on-Week (WoW) to close at 39,927. The week that ended on Friday, August 26, saw foreign portfolio investment landing in the green with off
Published 29 Aug, 2016 12:00am
Recovery witnessed

Recovery witnessed

Pakistan shares market ended the future rollover week on a positive note with KSE-100 index gaining one percent Week-on-Week (WoW) to close at 39,927. The week that ended on Friday, August 26, saw foreign portfolio investment landing in the green with off
Published 29 Aug, 2016 12:00am
Recovery witnessed

Recovery witnessed

Pakistan shares market ended the future rollover week on a positive note with KSE-100 index gaining one percent Week-on-Week (WoW) to close at 39,927. The week that ended on Friday, August 26, saw foreign portfolio investment landing in the green with off
Published 29 Aug, 2016 12:00am
Dastgir, others to discuss export slide
Cotton

Dastgir, others to discuss export slide

Minister for Commerce Engineer Khurram Dastgir Khan is to preside over a stormy meeting of Federal Textile Board (FTB) on Monday (today) wherein issues being faced by the textile sector and reasons for the continuous decline in exports will be discussed t
Published 29 Aug, 2016 12:00am
Dastgir, others to discuss export slide
Cotton

Dastgir, others to discuss export slide

Minister for Commerce Engineer Khurram Dastgir Khan is to preside over a stormy meeting of Federal Textile Board (FTB) on Monday (today) wherein issues being faced by the textile sector and reasons for the continuous decline in exports will be discussed t
Published 29 Aug, 2016 12:00am
Dastgir, others to discuss export slide
Cotton

Dastgir, others to discuss export slide

Minister for Commerce Engineer Khurram Dastgir Khan is to preside over a stormy meeting of Federal Textile Board (FTB) on Monday (today) wherein issues being faced by the textile sector and reasons for the continuous decline in exports will be discussed t
Published 29 Aug, 2016 12:00am
THE RUPEE: steady trend
Currency

THE RUPEE: steady trend

The rupee managed to hold the present levels against the dollar in the absence of motivating factors during the week, ending on August 27, 2016.
Published 29 Aug, 2016 12:00am
THE RUPEE: steady trend
Currency

THE RUPEE: steady trend

The rupee managed to hold the present levels against the dollar in the absence of motivating factors during the week, ending on August 27, 2016.
Published 29 Aug, 2016 12:00am
Minimum taxation issue: President issues four orders

Minimum taxation issue: President issues four orders

President of Pakistan as an appellate authority under Federal Tax Ombudsman Ordinance, 2000 has issued four different orders on the same issue of Minimum Taxation under Section 153(1)(b) of the Income Tax Ordinance, 2001.
Published 29 Aug, 2016 12:00am
Minimum taxation issue: President issues four orders

Minimum taxation issue: President issues four orders

President of Pakistan as an appellate authority under Federal Tax Ombudsman Ordinance, 2000 has issued four different orders on the same issue of Minimum Taxation under Section 153(1)(b) of the Income Tax Ordinance, 2001.
Published 29 Aug, 2016 12:00am
Minimum taxation issue: President issues four orders

Minimum taxation issue: President issues four orders

President of Pakistan as an appellate authority under Federal Tax Ombudsman Ordinance, 2000 has issued four different orders on the same issue of Minimum Taxation under Section 153(1)(b) of the Income Tax Ordinance, 2001.
Published 29 Aug, 2016 12:00am
The Weather

The Weather

The weather report on Sunday (August 28, 2016) and the forecast for Monday (August 29, 2016).

Published 29 Aug, 2016 12:00am
Your rupee last week
Currency

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (August 22 to 26, 2016).

Published 29 Aug, 2016 12:00am
All candidates elected unopposed

All candidates elected unopposed

All the candidates for the executive committee of Multan Chamber of Commerce & Industry (MCCI)'s Corporate and associate classes have been elected unopposed on Friday as no other candidate turned up for the contest.
Published 29 Aug, 2016 12:00am
PM, his family members won't survive the Panama Leaks: Kaira

PM, his family members won't survive the Panama Leaks: Kaira

Information Secretary of Pakistan People's Party (PPP) Qamar Zaman Kaira said that the government was making all out efforts to 'bury' the Panama Leaks issue but its attempts would not be allowed to succeed.
Published 29 Aug, 2016 12:00am
KU notifies LLB Supplementary Exam results

KU notifies LLB Supplementary Exam results

The Controller Examinations, University of Karachi, Professor Dr Arshad Azmi, Sunday notified the LLB Final Year Supplementary Examinations 2015 results. As many as 250 candidates appeared in the examinations, while three secured first division, 109 got s
Published 29 Aug, 2016 12:00am
Two-day Indonesian Solo Exhibition organised in successful manner

Two-day Indonesian Solo Exhibition organised in successful manner

The Consulate General of the Republic of Indonesia in Karachi organised the two-day solo exhibition & cultural performances at Ocean Tower. The Exhibition provided the opportunity to the businessmen of both the countries to explore the possibilities of en
Published 29 Aug, 2016 12:00am
Around 74 percent of drivers listen to radio while driving: survey

Around 74 percent of drivers listen to radio while driving: survey

Around 74 per cent of drivers listen radio while driving, a third edition of auto industry survey has revealed. The survey has revealed new insights into automotive sector including people's buying and selling habits, patterns and preferences.
Published 29 Aug, 2016 12:00am
FPCCI to cooperate with government to make SAEU a reality

FPCCI to cooperate with government to make SAEU a reality

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Sunday said it will fully cooperate with the government in making South Asian Economic Union (SAEU) a reality as soon as possible as it is need of the hour.
Published 29 Aug, 2016 12:00am
'Rationalisation of institutions'

'Rationalisation of institutions'

This is apropos a Business Recorder op-ed "Ministry of Science & Technology: Rationalisation of institutions - II" carried by the newspaper on Saturday. The writer, Farhat Ali has strongly advocated his case through which he urges government to mak
Published 29 Aug, 2016 12:00am
Seeing new market, electronic party expands to India

Seeing new market, electronic party expands to India

One of the world's premier electronic music festivals is expanding to India, seeing a major new market in the billion-plus country once off the radar for Western concert promoters.
Published 29 Aug, 2016 12:00am
Politics: it's all about a name

Politics: it's all about a name

A visible obsession displayed by our political parties is to rename streets, airports, historical and prominent buildings, social and infrastructure development projects funded from the taxpayers' money, with a name associated with their party/leadership.
Published 29 Aug, 2016 12:00am
Burgeoning external debt
Currency

Burgeoning external debt

The SBP has just released the data on external debt of Pakistan as of June 30, 2016. The stock of debt has ballooned up to almost $73 billion; with a largest ever increase of almost $8 billion in 2015-16. The last time we saw a big rise in external debt o
Published 29 Aug, 2016 12:00am
C/A deficit

C/A deficit

Signs on the external sector front are ominous. According to the latest data released by the State Bank, the current account (C/A) deficit of the country is dollar 591 million in July, 2016, more than double the amount of dollar 234 million recorded in th
Published 29 Aug, 2016 12:00am
MQM at turning point

MQM at turning point

The extraordinary developments surrounding the MQM since its founder-leader Altaf Hussain's diatribe on August 22 have left the party facing a turning point. Altaf Hussain's speech was incendiary, anti-state, and incentivised violence and rioting
Published 29 Aug, 2016 12:00am
Clinton leads Trump by 5 points

Clinton leads Trump by 5 points

US Democratic presidential candidate Hillary Clinton leads her Republican rival Donald Trump by 5 percentage points among likely voters, down from a peak this month of 12 points, according to the Reuters/Ipsos daily tracking poll released on Friday.
Published 29 Aug, 2016 12:00am
Former Obama aide calls Trump a 'psychopath'

Former Obama aide calls Trump a 'psychopath'

A former top adviser to President Barack Obama on Sunday labelled Donald Trump a "psychopath", saying the Republican presidential nominee met the clinical definition of the personality disorder.
Published 29 Aug, 2016 12:00am
As Obama heads to Laos, signs of a tilt away from China

As Obama heads to Laos, signs of a tilt away from China

The secretive communist government of Laos, a country with a population of less than 7 million, rarely causes a ripple on the diplomatic circuit. And yet its sleepy capital will spring to life next week when global leaders arrive for an Asian summit.
Published 29 Aug, 2016 12:00am
Nigeria's Buhari says Boko Haram leader 'wounded'

Nigeria's Buhari says Boko Haram leader 'wounded'

Nigerian President Muhammadu Buhari said Sunday that Boko Haram leader Abubakar Shekau is "wounded", in his first comments on military claims that the jihadi leader was injured in an attack. Nigeria's armed forces said on Tuesday that Shekau had been woun
Published 29 Aug, 2016 12:00am
Nigeria launches offensive against militants in Delta oil hub

Nigeria launches offensive against militants in Delta oil hub

Nigeria's military said on Saturday it had launched a new offensive against militants in the oil-producing Niger Delta, killing five and arresting 23. Armed groups have claimed responsibility for a series of attacks on oil and gas pipelines in the souther
Published 29 Aug, 2016 12:00am
China names new chief for Tibet in party reshuffle

China names new chief for Tibet in party reshuffle

China's ruling Communist Party appointed a new senior official on Sunday to run Tibet, considered one of the country's most politically sensitive positions due to periodic anti-Chinese unrest in the devoutly Buddhist Himalayan region.
Published 29 Aug, 2016 12:00am
Philippine Muslim extremists stage mass jailbreak

Philippine Muslim extremists stage mass jailbreak

Muslim extremists carrying Islamic State group insignia have staged a daring jailbreak in the southern Philippines, freeing 28 detainees in the latest in a series of mass escapes, officials said Sunday. About 50 heavily armed members of the Maute group ra
Published 29 Aug, 2016 12:00am
Veteran Uzbek leader in hospital as succession issue looms
Cotton

Veteran Uzbek leader in hospital as succession issue looms

Islam Karimov, the 78-year-old president of Central Asia's most populous country, is undergoing hospital treatment, Uzbekistan's government said on Sunday, in a rare statement about the health of a reclusive leader who lacks an obvious successor.
Published 29 Aug, 2016 12:00am
Coalition strikes kill seven Yemeni civilians

Coalition strikes kill seven Yemeni civilians

Warplanes from the Saudi-led coalition struck a rebel convoy near a taxi stand in central Yemen, killing seven civilians and nine insurgents, officials said on Sunday. The air strikes hit three vehicles belonging to the Huthi rebels late Saturday near the
Published 29 Aug, 2016 12:00am
Yemen government cautiously welcomes US peace plan

Yemen government cautiously welcomes US peace plan

Yemen's exiled government has said it welcomes in principle a US-backed plan to resume peace talks with Iran-backed rebels on the basis of forming a unity government. At a meeting in Riyadh, the cabinet gave an "initial welcoming to the ideas that came ou
Published 29 Aug, 2016 12:00am
McEnroe calls halt to coaching Raonic

McEnroe calls halt to coaching Raonic

US tennis legend John McEnroe on Saturday called a halt to his coaching work with Milos Raonic, claiming "it will make life easier" despite helping the Canadian to the Wimbledon final last month.
Published 29 Aug, 2016 12:00am
Radwanska wins Connecticut Open

Radwanska wins Connecticut Open

Agnieszka Radwanska held on for a 6-1, 7-6 (7/2) win over Elina Svitolina in Saturday's final of the WTA Connecticut Open, the last tune-up before the US Open. The top seed and world number four Radwanska claimed her second title of 2016 and the 19th of h
Published 29 Aug, 2016 12:00am
Patience pays for Du Plessis as Kiwis slip

Patience pays for Du Plessis as Kiwis slip

Patience paid off for South African captain Faf du Plessis as he was rewarded with three quick wickets after grinding out a century on day two of the second Test against New Zealand on Sunday. New Zealand finished the day at SuperSport Park on 38 for thre
Published 29 Aug, 2016 12:00am
Napoli win six-goal thriller against nine-man Milan

Napoli win six-goal thriller against nine-man Milan

Napoli squandered a two-goal halftime lead, then scored two late goals to beat nine-man AC Milan 4-2 in a stormy Serie A match which saw eight other players booked on Saturday. Earlier, champions Juventus won 1-0 at Lazio for their second straight win of
Published 29 Aug, 2016 12:00am
Young XI Bannu win Jashn-e-Azadi Soccer

Young XI Bannu win Jashn-e-Azadi Soccer

Young XI Bannu defeated Machni Khail Tank by 2-0 in a thrilling match of the All Khyber Pakhtunkhwa Jashan-e-Azadi Football Tournament being played at Latambar Football Stadium, District Karak on Sunday.
Published 29 Aug, 2016 12:00am
French tennis players suspended over behaviour at Olympics

French tennis players suspended over behaviour at Olympics

The French Tennis Federation (FFT) has provisionally suspended Benoit Paire, Kristina Mladenovic and Caroline Garcia for "damaging" the organisation's image by their behaviour at this month's Rio Olympics. "Following the Rio Olympics, the Committee of the
Published 29 Aug, 2016 12:00am
Rosberg eases to victory

Rosberg eases to victory

German Nico Rosberg steered clear of the chaos unfolding behind him to cruise to an unchallenged victory in a disrupted Belgian Grand Prix on Sunday. His Mercedes team mate Lewis Hamilton, the world championship leader, finished third from the back row of
Published 29 Aug, 2016 12:00am
Sterling double maintains Pep's perfect City record

Sterling double maintains Pep's perfect City record

Raheem Sterling struck twice and Fernandinho added another goal as Manchester City made it five wins in as many matches under the management of Pep Guardiola with a 3-1 victory at home to West Ham in the Premier League on Sunday.
Published 29 Aug, 2016 12:00am
Infantino says FIFA salary less than $2 million

Infantino says FIFA salary less than $2 million

FIFA president Gianni Infantino said in an interview published Sunday that he will make less than two million Swiss francs a year, well below the salary of his disgraced predecessor, Sepp Blatter.
Published 29 Aug, 2016 12:00am
Australia seal tense chase against Sri Lanka

Australia seal tense chase against Sri Lanka

Half-centurion George Bailey starred in Australia's tense run chase as the visitors edged past Sri Lanka by two wickets in the third one-day international and took a 2-1 lead in Dambulla on Sunday. Australia chased down 227 in 46 overs to deny Sri Lankan
Published 29 Aug, 2016 12:00am
Kenya Airways says full-year pretax loss narrows 12 percent

Kenya Airways says full-year pretax loss narrows 12 percent

Kenya Airways Ltd narrowed its pretax loss by 12.2 percent to 26.1 billion shillings ($257 million) in the year to end-March, it said on Thursday. The carrier, which is part-owned by Air France KLM, has been reducing its fleet, selling land and cutting jo
Published 29 Aug, 2016 12:00am
Adidas hikes 2016 goals for fourth time
Currency

Adidas hikes 2016 goals for fourth time

German sporting goods group Adidas raised its 2016 guidance for a fourth time this year after reporting a 21 percent jump in second-quarter sales, among other helped by the European soccer championships in France. Shares rose around 4 percent in early tra
Published 29 Aug, 2016 12:00am
Adidas hikes 2016 goals for fourth time
Currency

Adidas hikes 2016 goals for fourth time

German sporting goods group Adidas raised its 2016 guidance for a fourth time this year after reporting a 21 percent jump in second-quarter sales, among other helped by the European soccer championships in France. Shares rose around 4 percent in early tra
Published 29 Aug, 2016 12:00am
Aid agencies seek $1.2 billion to fight southern Africa drought

Aid agencies seek $1.2 billion to fight southern Africa drought

Humanitarian agencies said Thursday that they need $1.2 billion in critical aid for seven drought-stricken countries in southern Africa, as the El Nino weather phenomenon continues to devastate crops across the region.
Published 29 Aug, 2016 12:00am
Halliburton expects modest uptick in N America rig count

Halliburton expects modest uptick in N America rig count

Halliburton Co, the world's No 2 oilfield services provider, reported a smaller-than-expected quarterly loss and said it expects to see a "modest uptick" in North American rig count in the second half of the year.
Published 29 Aug, 2016 12:00am
Ericsson to cut costs further as sales decline

Ericsson to cut costs further as sales decline

Mobile telecom gear maker Ericsson forecast a third consecutive year of comparable sales declines on Tuesday, saying it would step up cost cuts in the face of deteriorating market conditions after its results fell short of market expectations.
Published 29 Aug, 2016 12:00am
Ericsson to cut costs further as sales decline

Ericsson to cut costs further as sales decline

Mobile telecom gear maker Ericsson forecast a third consecutive year of comparable sales declines on Tuesday, saying it would step up cost cuts in the face of deteriorating market conditions after its results fell short of market expectations.
Published 29 Aug, 2016 12:00am
Japan housing market rare bright spot amid stalling growth

Japan housing market rare bright spot amid stalling growth

Japan's housing market is likely to moderate after investment grew at its fastest in five years in April-June, but the benefits to consumer spending and employment could continue into next year due to the Bank of Japan's negative interest rates.
Published 29 Aug, 2016 12:00am
Baidu posts biggest profit decline since going public

Baidu posts biggest profit decline since going public

Baidu Inc, China's largest Internet search company, posted its steepest-ever quarterly profit decline and slowest growth in revenue in nearly eight years, hit by a healthcare scandal that ensnared the company this year.
Published 29 Aug, 2016 12:00am
Baidu posts biggest profit decline since going public

Baidu posts biggest profit decline since going public

Baidu Inc, China's largest Internet search company, posted its steepest-ever quarterly profit decline and slowest growth in revenue in nearly eight years, hit by a healthcare scandal that ensnared the company this year.
Published 29 Aug, 2016 12:00am
Travellers posts smallest quarterly profit since hurricane Sandy

Travellers posts smallest quarterly profit since hurricane Sandy

Property and casualty insurer Travellers Cos Inc reported its smallest quarterly profit since 2012, when hurricane Sandy struck the US Atlantic coast. Travellers said its second-quarter earnings were hit by a series of weather-related and other natural di
Published 29 Aug, 2016 12:00am
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