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Print - 2016-08-30
EU wheat falls as US markets prices lower

EU wheat falls as US markets prices lower

European wheat fell on Friday as US markets slumped to their lowest in nearly a decade on technical selling and ample global supplies, traders said. Benchmark December milling wheat on Paris-based Euronext unofficially closed 1.50 euro, or 0.9 percent, lo
Published 30 Aug, 2016 12:00am
Index gains 96 points

Index gains 96 points

The equity market settled above 40,023 points Monday with the KSE-100 index adding 96 points to the previous 39,927 points. In the intraday trade, the benchmark index hit the session''s high of 40,102 after slipping to 39,926 points.
Published 30 Aug, 2016 12:00am
UkrAgroConsult raises Ukraine's grain harvest, export forecasts

UkrAgroConsult raises Ukraine's grain harvest, export forecasts

Analyst UkrAgroConsult has raised its forecast for Ukraine's 2016 grain harvest to 62.7 million tonnes, 1.7 million tonnes higher than a month earlier, it said on Tuesday. UkrAgroConsult said the new forecast was due mainly to high yields of early grain c
Published 30 Aug, 2016 12:00am
Index gains 96 points

Index gains 96 points

The equity market settled above 40,023 points Monday with the KSE-100 index adding 96 points to the previous 39,927 points. In the intraday trade, the benchmark index hit the session's high of 40,102 after slipping to 39,926 points.
Published 30 Aug, 2016 12:00am
US FOB Gulf soyabean offers flat

US FOB Gulf soyabean offers flat

Export premiums for soyabeans shipped from the US Gulf Coast were unchanged on Friday but slightly firmer on the week as good demand from mostly top importer China has supported values despite expectations for a record US crop, traders said. Farm newslett
Published 30 Aug, 2016 12:00am
Index gains 96 points

Index gains 96 points

The equity market settled above 40,023 points Monday with the KSE-100 index adding 96 points to the previous 39,927 points. In the intraday trade, the benchmark index hit the session's high of 40,102 after slipping to 39,926 points.
Published 30 Aug, 2016 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 261,642 tonnes of cargo comprising 206,437 tonnes of import cargo and 55,205 tonnes of export cargo including 5,781 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday
Published 30 Aug, 2016 12:00am
NPLs soar by over Rs 29 billion in H1CY16

NPLs soar by over Rs 29 billion in H1CY16

Non-Performing Loans (NPLs) of banking industry continued to accumulate, posting a phenomenal rise of over Rs 29 billion during the first half of this calendar year (CY16), posing new challenges for the financial sector. Despite experiencing a slowdown in
Published 30 Aug, 2016 12:00am
Egypt's GASC seeks to buy wheat

Egypt's GASC seeks to buy wheat

Egypt's General Authority for Supply Commodities (GASC) set a tender on Thursday to buy an unspecified amount of wheat from global suppliers for shipment from September 26 to October 5. Ahmed Youssef, vice chairman of GASC, said the authority is seeking t
Published 30 Aug, 2016 12:00am
NPLs soar by over Rs 29 billion in H1CY16

NPLs soar by over Rs 29 billion in H1CY16

Non-Performing Loans (NPLs) of banking industry continued to accumulate, posting a phenomenal rise of over Rs 29 billion during the first half of this calendar year (CY16), posing new challenges for the financial sector. Despite experiencing a slowdown in
Published 30 Aug, 2016 12:00am
EU rapeseed oil prices sharply lower

EU rapeseed oil prices sharply lower

EU rapeseed oil prices were sharply lower on Thursday, erasing some of this month's strong gains, tracking weakness in CBOT soyabean oil. Sellers cut asking prices for EU rapeoil by 5 to 11 euros a tonne, with Nov/Jan now offered at 734 euros, still 43 eu
Published 30 Aug, 2016 12:00am
NPLs soar by over Rs 29 billion in H1CY16

NPLs soar by over Rs 29 billion in H1CY16

Non-Performing Loans (NPLs) of banking industry continued to accumulate, posting a phenomenal rise of over Rs 29 billion during the first half of this calendar year (CY16), posing new challenges for the financial sector. Despite experiencing a slowdown in
Published 30 Aug, 2016 12:00am
CBOT wheat futures fall to 10-year low

CBOT wheat futures fall to 10-year low

Wheat futures on the Chicago Board of Trade fell more than 4 percent on Friday, with the spot contract tumbling below $4 a bushel to its lowest in a decade on plentiful global supplies and a lack of supportive news, traders said.
Published 30 Aug, 2016 12:00am
Opposition to AMR: Discos asked to identify defence institution

Opposition to AMR: Discos asked to identify defence institution

Senate Standing Committee on Water and Power on Monday directed power Distribution Companies (Discos) to disclose the name of the defence institution which has opposed installation of Automatic Meter Reading (AMR) system on feeders which supply to defence
Published 30 Aug, 2016 12:00am
European vegoils: palm oil prices stabilize

European vegoils: palm oil prices stabilize

Palm oil prices were mostly flat to slightly higher on Friday although remained below week earlier levels with vegetable oil markets dragged down by weakness in CBOT soyabean oil. RBD palm olein offers ranged from $2.50 to $7.50 a tonne higher with Januar
Published 30 Aug, 2016 12:00am
Opposition to AMR: Discos asked to identify defence institution

Opposition to AMR: Discos asked to identify defence institution

Senate Standing Committee on Water and Power on Monday directed power Distribution Companies (Discos) to disclose the name of the defence institution which has opposed installation of Automatic Meter Reading (AMR) system on feeders which supply to defence
Published 30 Aug, 2016 12:00am
Canadian canola futures higher

Canadian canola futures higher

ICE Canadian canola futures eked out small gains on Friday, nudged higher by weakness in the Canadian dollar, but they registered a weekly loss. Demand concerns overhang canola with China set to toughen a shipping standard on September 1, but Canadian sal
Published 30 Aug, 2016 12:00am
Opposition to AMR: Discos asked to identify defence institution

Opposition to AMR: Discos asked to identify defence institution

Senate Standing Committee on Water and Power on Monday directed power Distribution Companies (Discos) to disclose the name of the defence institution which has opposed installation of Automatic Meter Reading (AMR) system on feeders which supply to defence
Published 30 Aug, 2016 12:00am
US Midwest soyabeans bids fall

US Midwest soyabeans bids fall

US grain elevators on the Mississippi and Illinois Rivers on Friday cut their spot basis bids for soyabeans while corn bids were mixed, merchants said. A western Mississippi river terminal slashed soyabean bids by 19 cents per bushel after filling their n
Published 30 Aug, 2016 12:00am
Kerry arrives in India to hike trade to $100 billion

Kerry arrives in India to hike trade to $100 billion

US Secretary of State John Kerry arrived in India on Monday for talks on ambitious plans to hike trade between the world''s two largest democracies five-fold to around $100 billion. Kerry will meet with Prime Minister Narendra Modi during the two-day visi
Published 30 Aug, 2016 12:00am
US natural gas futures up for fifth day

US natural gas futures up for fifth day

US natural gas futures recovered from early losses to settle up for a fifth straight day on Friday, notching its best weekly gain in eight, on forecasts for hotter-than-usual weather that could boost cooling demand. Front-month gas futures for September d
Published 30 Aug, 2016 12:00am
Kerry arrives in India to hike trade to $100 billion

Kerry arrives in India to hike trade to $100 billion

US Secretary of State John Kerry arrived in India on Monday for talks on ambitious plans to hike trade between the world's two largest democracies five-fold to around $100 billion. Kerry will meet with Prime Minister Narendra Modi during the two-day visit
Published 30 Aug, 2016 12:00am
Russian wheat export prices fall

Russian wheat export prices fall

Russian wheat export prices fell slightly last week on a 1.5 percent weakening in the rouble that made Russian grains more competitive on global dollar-denominated markets, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent prot
Published 30 Aug, 2016 12:00am
Kerry arrives in India to hike trade to $100 billion

Kerry arrives in India to hike trade to $100 billion

US Secretary of State John Kerry arrived in India on Monday for talks on ambitious plans to hike trade between the world's two largest democracies five-fold to around $100 billion. Kerry will meet with Prime Minister Narendra Modi during the two-day visit
Published 30 Aug, 2016 12:00am
Rains to boost Ivory Coast main cocoa crop

Rains to boost Ivory Coast main cocoa crop

Abundant rainfall last week in most of Ivory Coast's principal cocoa regions could boost the forthcoming October-to-March main crop but more sunshine is needed to accelerate the growth of small pods, farmers said on Monday. Getting the right mix of rain a
Published 30 Aug, 2016 12:00am
Special development plan: government has its eye on 2018 elections

Special development plan: government has its eye on 2018 elections

The government has decided to launch a two-year special development programme titled Wazeer-e-Azam Qaumi Taraqiati Program, 2016-18, scheduled for completion prior to the General Elections 2018. Federal Cabinet, in its meeting to be held on Wednesday (tom
Published 30 Aug, 2016 12:00am
No impact from Brexit on Norway's gas exports to Britain

No impact from Brexit on Norway's gas exports to Britain

Exports of Norwegian gas to Britain will not be affected by Britain's vote to leave the European Union, Norway's oil and energy minister told Reuters. The Nordic country is Britain's top foreign gas supplier, accounting for some 40 percent of all supplies
Published 30 Aug, 2016 12:00am
Special development plan: government has its eye on 2018 elections

Special development plan: government has its eye on 2018 elections

The government has decided to launch a two-year special development programme titled Wazeer-e-Azam Qaumi Taraqiati Program, 2016-18, scheduled for completion prior to the General Elections 2018. Federal Cabinet, in its meeting to be held on Wednesday (tom
Published 30 Aug, 2016 12:00am
Cotton market: small business on thin Phutti arrivals
Cotton

Cotton market: small business on thin Phutti arrivals

The trading activity came down on the cotton market on Monday as seed cotton arrivals still low due to several factors, dealers said. The official spot rate was unchanged at Rs 6,650, dealers said. In Sindh, seed cotton prices were down modestly at Rs 340
Published 30 Aug, 2016 12:00am
Special development plan: government has its eye on 2018 elections

Special development plan: government has its eye on 2018 elections

The government has decided to launch a two-year special development programme titled Wazeer-e-Azam Qaumi Taraqiati Program, 2016-18, scheduled for completion prior to the General Elections 2018. Federal Cabinet, in its meeting to be held on Wednesday (tom
Published 30 Aug, 2016 12:00am
EU insists 'ball still rolling' on US trade deal

EU insists 'ball still rolling' on US trade deal

The European Commission Monday insisted talks on a huge US free trade agreement were on track, rejecting German claims that irreconcilable differences had left the deal dead in the water.
Published 30 Aug, 2016 12:00am
Petitioners subjected to no prejudice: judgement

Petitioners subjected to no prejudice: judgement

Justice Azmat Saeed Sheikh of Supreme Court authored the 182-page judgment, saying that at no point of time during the course of trial by the Field General Court Martial (FGCM) or the pendency of the proceedings before the High Court or even before the Su
Published 30 Aug, 2016 12:00am
Petitioners subjected to no prejudice: judgement

Petitioners subjected to no prejudice: judgement

Justice Azmat Saeed Sheikh of Supreme Court authored the 182-page judgment, saying that at no point of time during the course of trial by the Field General Court Martial (FGCM) or the pendency of the proceedings before the High Court or even before the Su
Published 30 Aug, 2016 12:00am
Tunisia's state airline to cut 1,000 jobs

Tunisia's state airline to cut 1,000 jobs

Tunisair, Tunisia's state-owned carrier, plans to lay off 1,000 employees or more than 12 percent of its full-time workforce, as part of reform plans, the Transport Minister told Reuters on Monday. Transport Minister Anis Guedira told Reuters the Tunsiar
Published 30 Aug, 2016 12:00am
Military convictions: Supreme Court dismisses civilian appeals

Military convictions: Supreme Court dismisses civilian appeals

Pakistan's Supreme Court on Monday upheld verdicts and death sentences in the cases of 16 civilians convicted of terrorism-related offences by military courts, the first time the highest court has ruled on the legality of cases tried by the military.
Published 30 Aug, 2016 12:00am
Military convictions: Supreme Court dismisses civilian appeals

Military convictions: Supreme Court dismisses civilian appeals

Pakistan's Supreme Court on Monday upheld verdicts and death sentences in the cases of 16 civilians convicted of terrorism-related offences by military courts, the first time the highest court has ruled on the legality of cases tried by the military.
Published 30 Aug, 2016 12:00am
Saudi prince, COAS discuss Middle East unrest

Saudi prince, COAS discuss Middle East unrest

Saudi Deputy Crown Prince Muhammad bin Salman, second deputy premier and minister of defence on Monday held a detailed discussion with Chief of Army Staff (COAS) General Raheel Sharif on regional security with particular focus on the Middle East situation
Published 30 Aug, 2016 12:00am
Chinese cities shut down factories ahead of G20 summit

Chinese cities shut down factories ahead of G20 summit

Chinese authorities have shut down scores of factories and ordered a mandatory holiday for workers ahead of a summit of leaders of the Group of 20 economic powers, authorities said. The Hangzhou city government ordered a holiday for businesses in the down
Published 30 Aug, 2016 12:00am
Saudi prince, COAS discuss Middle East unrest

Saudi prince, COAS discuss Middle East unrest

Saudi Deputy Crown Prince Muhammad bin Salman, second deputy premier and minister of defence on Monday held a detailed discussion with Chief of Army Staff (COAS) General Raheel Sharif on regional security with particular focus on the Middle East situation
Published 30 Aug, 2016 12:00am
Court dismisses challenge to Adani's Australia mine

Court dismisses challenge to Adani's Australia mine

An India-backed company planning to build a massive coal mine in Australia welcomed a court's decision Monday to dismiss a legal challenge raising environmental concerns over the project's impact on the Great Barrier Reef.
Published 30 Aug, 2016 12:00am
US and India sign military logistics agreement

US and India sign military logistics agreement

The United States and India signed an agreement on Monday to allow the use of each other's land, air and naval bases for repair and resupply, a step toward building defence ties as they seek to counter the growing maritime assertiveness of China.
Published 30 Aug, 2016 12:00am
Driverless taxi firm eyes operations in 10 cities by 2020

Driverless taxi firm eyes operations in 10 cities by 2020

A US software firm which chose Singapore for the world's first public trial of driverless taxis hopes to be operating in 10 Asian and US cities by 2020, an executive said Monday. Doug Parker, nuTonomy's chief operating officer, said the firm is eyeing tes
Published 30 Aug, 2016 12:00am
US and India sign military logistics agreement

US and India sign military logistics agreement

The United States and India signed an agreement on Monday to allow the use of each other's land, air and naval bases for repair and resupply, a step toward building defence ties as they seek to counter the growing maritime assertiveness of China.
Published 30 Aug, 2016 12:00am
Finnish government to cut taxes after labour reform deal

Finnish government to cut taxes after labour reform deal

Finland's government will honour a promise to cut taxes, a minister said on Monday, after unionised employees overwhelmingly agreed to work harder for less money to help kick-start an economy that surveys showed remains in the doldrums.
Published 30 Aug, 2016 12:00am
Solid US consumer spending boosts prospect of Fed rate hike

Solid US consumer spending boosts prospect of Fed rate hike

US consumer spending increased for a fourth straight month in July amid strong demand for automobiles, pointing to a pickup in economic growth that could pave the way for the Federal Reserve to raise interest rates this year.
Published 30 Aug, 2016 12:00am
Argentina, Mexico deepen economic accord

Argentina, Mexico deepen economic accord

The presidents of Argentina and Mexico agreed to deepen a pre-existing commercial accord on Friday, in a bid to set the groundwork for a bilateral free trade agreement. The ACE 6, as the treaty is called in Spanish, lowers tariffs on some products and inc
Published 30 Aug, 2016 12:00am
Banks miss out as Chinese firms do DIY deal advice

Banks miss out as Chinese firms do DIY deal advice

When ride-hailing firm Didi Chuxing agreed to buy Uber Technologies Inc's China unit this month, creating a $35 billion business, both firms used in-house advisory teams, meaning the investment banks that normally advise on these deals missed out on an es
Published 30 Aug, 2016 12:00am
Barclays posts sliding first-half profits

Barclays posts sliding first-half profits

British bank Barclays saw first-half net profits tumble by almost a third, hit by non-core losses and an impairment at its French retail division, it said Friday. Turning to Britain's recent EU exit referendum, Barclays - which had backed the unsuccessful
Published 30 Aug, 2016 12:00am
Barclays posts sliding first-half profits

Barclays posts sliding first-half profits

British bank Barclays saw first-half net profits tumble by almost a third, hit by non-core losses and an impairment at its French retail division, it said Friday. Turning to Britain's recent EU exit referendum, Barclays - which had backed the unsuccessful
Published 30 Aug, 2016 12:00am
Qatar's Barzan gas project to start in November

Qatar's Barzan gas project to start in November

Qatar will begin operations at its Barzan gas project in November, two people close to the matter told Reuters on Sunday, as the Gulf state strives to meet rising domestic energy demand as it prepares to host the soccer World Cup in 2022. The $10 billion
Published 30 Aug, 2016 12:00am
Analysts slash EU carbon price forecasts following Brexit

Analysts slash EU carbon price forecasts following Brexit

Analysts have slashed their price forecasts for European carbon prices after Britain's decision to leave the European Union raised questions about the future of the European Emission Trading System (ETS), a Reuters poll showed on Friday.
Published 30 Aug, 2016 12:00am
Thai government plans to borrow $17.7 billion in fiscal 2017

Thai government plans to borrow $17.7 billion in fiscal 2017

Thailand plans new borrowing of 614 billion baht ($17.74 billion) in the fiscal year starting October 1, to finance the budget deficit and investment projects, a senior finance ministry official said on Wednesday. Of the total, 390 billion baht will be fo
Published 30 Aug, 2016 12:00am
No clean bill of health for EU banks in stress test

No clean bill of health for EU banks in stress test

Banks from Italy, Ireland, Spain and Austria fared worst in the latest European Union stress test, which the region's banking watchdog said on Friday showed there was still work to do in order to boost credit to the bloc's economy. Eight years since the c
Published 30 Aug, 2016 12:00am
LG Elec second quarter profit at two-year high

LG Elec second quarter profit at two-year high

South Korea's LG Electronics Inc posted its highest quarterly operating profit in two years, thanks to record appliances and television earnings that offset another loss for the mobile division. The world's second-largest TV maker behind Samsung Electroni
Published 30 Aug, 2016 12:00am
Halliburton sees weak service pricing even as rig count rises

Halliburton sees weak service pricing even as rig count rises

Halliburton Co, the world's No 2 oilfield services provider, said it expects a "modest uptick" in rig count in the second half of the year, but emphasized that the current low pricing environment was unsustainable.
Published 30 Aug, 2016 12:00am
Taiwan makes a Christmas wish, raises 2016 GDP outlook for first time

Taiwan makes a Christmas wish, raises 2016 GDP outlook for first time

Taiwan raised its 2016 economic growth outlook on Friday, after three cuts in a row, hoping demand from China and its other major markets will pick up ahead of the year-end shopping season. Gross domestic product (GDP) should grow 1.22 percent this year,
Published 30 Aug, 2016 12:00am
Caribbean countries entangled by US financial crackdown
Currency

Caribbean countries entangled by US financial crackdown

Burdened by chronic back pain, Belize Prime Minister Dean Barrow avoids travelling abroad, his colleagues say. But in January, he flew to Washington and visited one government agency after another on a singular mission: reconnecting his country to the US
Published 30 Aug, 2016 12:00am
Mongolia's hangover needs more than IMF medicine
Currency

Mongolia's hangover needs more than IMF medicine

Mongolia looks willing to take the pain to get its economy back on track. On August 18, the nomad state hiked interest rates to 15 percent to defend its plunging currency - higher than Brazil, Nigeria, and Russia.
Published 30 Aug, 2016 12:00am
Australians get more jobs in July, but all part-time
Currency

Australians get more jobs in July, but all part-time

Australian employment sped past forecasts in July while the jobless rate unexpectedly dipped to 5.7 percent, yet the good news was tarnished by a steep fall in full-time work that pointed to lingering slack in the labour market.
Published 30 Aug, 2016 12:00am
Volvo beats earnings forecast

Volvo beats earnings forecast

Swedish truckmaker Volvo reported better than expected second-quarter earnings on Tuesday as cost cuts and rising European sales helped fortify it against slumping US demand for commercial vehicles. Heavy-duty trucks, where Volvo is competing with Germany
Published 30 Aug, 2016 12:00am
Volvo beats earnings forecast

Volvo beats earnings forecast

Swedish truckmaker Volvo reported better than expected second-quarter earnings on Tuesday as cost cuts and rising European sales helped fortify it against slumping US demand for commercial vehicles. Heavy-duty trucks, where Volvo is competing with Germany
Published 30 Aug, 2016 12:00am
China's provinces enlist banks to defy overcapacity cuts

China's provinces enlist banks to defy overcapacity cuts

China's provinces are pushing back against Beijing's efforts to restrict credit to loss-making enterprises with excess capacity, and are enlisting the support of local bankers to keep financing the targeted sectors, such as steel and coal.
Published 30 Aug, 2016 12:00am
Peru's Kuczynski aims to hike spending 4.5 percent in 2017 budget

Peru's Kuczynski aims to hike spending 4.5 percent in 2017 budget

The government of Peruvian President Pedro Pablo Kuczynski on Wednesday proposed a 4.5 percent spending hike for the 2017 budget to bolster domestic demand and curb the risk of recession once a copper boom subsides. The increase would pay for sorely-neede
Published 30 Aug, 2016 12:00am
Egypt eyes tough reforms in last-ditch bid to save economy
Currency

Egypt eyes tough reforms in last-ditch bid to save economy

Egypt hopes a $12-billion financing deal with the IMF will usher in an economic turnaround but real progress hinges on a tough reform package avoided for decades to stave off unrest. The financing over three years - deemed an endorsement to attract more f
Published 30 Aug, 2016 12:00am
Carlyle to focus Asia real estate investment on China logistics

Carlyle to focus Asia real estate investment on China logistics

Private equity firm Carlyle Group LP will focus its Asia real estate investments on logistics and office projects in China, optimistic that the country's e-commerce boom will drive growth in those sectors despite a slowing economy.
Published 30 Aug, 2016 12:00am
Carlyle to focus Asia real estate investment on China logistics

Carlyle to focus Asia real estate investment on China logistics

Private equity firm Carlyle Group LP will focus its Asia real estate investments on logistics and office projects in China, optimistic that the country's e-commerce boom will drive growth in those sectors despite a slowing economy.
Published 30 Aug, 2016 12:00am
Depressed Singapore exports suggests Asia trade gloom won't lift soon

Depressed Singapore exports suggests Asia trade gloom won't lift soon

Singapore's exports in July tumbled as sales to China and the United States declined in a renewed sign of Asia's struggles as its exports engine sputters amid weak external demand, and keeping pressure on policy makers to deliver more stimulus. Exports ac
Published 30 Aug, 2016 12:00am
Investors knock on banks' doors for more callable TLAC deals

Investors knock on banks' doors for more callable TLAC deals

A sell-out bond by J. P Morgan this month, which some see as a game-changer for the way US banks approach their capital shortfalls, has stirred up demand from the buyside. Investors poured some US$5.5bn of orders into J. P Morgan's US$2.5bn senior holdco
Published 30 Aug, 2016 12:00am
Nordea, DNB to merge operations in Baltic states

Nordea, DNB to merge operations in Baltic states

Two Scandinavian banks, Nordea and DNB, announced Thursday they will merge operations in Baltic eurozone members Estonia, Latvia and Lithuania. Their new bank will be the second-largest financial institution in the region behind market-leader Swedbank, wi
Published 30 Aug, 2016 12:00am
Mexico central bank concerned about growth, US election

Mexico central bank concerned about growth, US election

Mexican policymakers were unanimous in their decision to hold interest rates steady earlier this month, the central bank said on Thursday, while a majority of board members flagged worsening risks to growth. Policymakers voted 5 to 0 to maintain the bank'
Published 30 Aug, 2016 12:00am
Hefty rise in capital goods imports shows Philippine resilience

Hefty rise in capital goods imports shows Philippine resilience

Philippine imports grew at a slower annual pace in June, but hefty increases in inflows of capital and consumer goods show the country is on track to remain one of the world's fastest-growing economies. Imports in June climbed 15.4 percent, the slowest an
Published 30 Aug, 2016 12:00am
Hold the lift! Japan Inc's answer to the rising yen
Currency

Hold the lift! Japan Inc's answer to the rising yen

While previous bouts of strength in the yen have pushed Japanese manufacturers to shift production overseas, exporters are coping with the recent currency stresses by penny-pinching - turning off lights and cramming elevators in the hope that nothing more
Published 30 Aug, 2016 12:00am
German authorities clear Opel diesel engines

German authorities clear Opel diesel engines

Germany's Federal Office for Motor Vehicles has approved diesel engines of General Motors' Opel unit, after initial doubts about whether the engine control software was permissible, weekly Bild am Sonntag reported. Engines of the 2.0 CDTI type which are b
Published 30 Aug, 2016 12:00am
Italy pension funds commit to support bank rescue plan

Italy pension funds commit to support bank rescue plan

Specialist Italian pension funds have agreed to a government call to invest in bad bank loans, as Rome works to build a safety-net around Italy's No 3 lender Monte dei Paschi ahead of European bank stress test. The Tuscan bank, which has one of the heavie
Published 30 Aug, 2016 12:00am
Italy pension funds commit to support bank rescue plan

Italy pension funds commit to support bank rescue plan

Specialist Italian pension funds have agreed to a government call to invest in bad bank loans, as Rome works to build a safety-net around Italy's No 3 lender Monte dei Paschi ahead of European bank stress test. The Tuscan bank, which has one of the heavie
Published 30 Aug, 2016 12:00am
Crude rebound helps Total limit loss

Crude rebound helps Total limit loss

French oil major Total said a recovery in crude prices, cost cutting, and increased output helped it limit a fall in its profits for the second quarter. Net earnings fell by 30 percent to $2.1 billion (1.9 billion euros) in April through June compared to
Published 30 Aug, 2016 12:00am
Japan Airlines three-month profit more than halves

Japan Airlines three-month profit more than halves

Japan Airlines said its three-month net profit more than halved as savings from a decline in fuel costs could not make up for weak travel demand at home and abroad. Falling oil prices have helped the carrier's bottom line - fuel is often an airline's sing
Published 30 Aug, 2016 12:00am
Lamborghini sees worldwide sales doubling by 2019 after SUV launch

Lamborghini sees worldwide sales doubling by 2019 after SUV launch

Luxury automaker Lamborghini expects to at least double production to 7,000 vehicles a year by 2019 once it rolls out a new SUV, but it will not lose its focus on making sports cars, Chief Executive Officer Stefano Domenicali said Tuesday.
Published 30 Aug, 2016 12:00am
Lamborghini sees worldwide sales doubling by 2019 after SUV launch

Lamborghini sees worldwide sales doubling by 2019 after SUV launch

Luxury automaker Lamborghini expects to at least double production to 7,000 vehicles a year by 2019 once it rolls out a new SUV, but it will not lose its focus on making sports cars, Chief Executive Officer Stefano Domenicali said Tuesday.
Published 30 Aug, 2016 12:00am
Colombia's inflation to end 2016 near seven percent

Colombia's inflation to end 2016 near seven percent

Colombia's inflation rate will end the year at around 7 percent, the upper limit of the central bank's estimate for 2016, despite recent price shocks being "transitory," central bank board member Ana Fernanda Maiguashca said.
Published 30 Aug, 2016 12:00am
Not so SWIFT: Bank messaging system slow to address weak points

Not so SWIFT: Bank messaging system slow to address weak points

More than a dozen current and former board directors and senior managers of SWIFT, the bank messaging system that helps transmit billions of dollars around the world every day, have told Reuters the organisation for years suspected there were weaknesses i
Published 30 Aug, 2016 12:00am
Tourism, infrastructure to support Thailand's economy this year
Currency

Tourism, infrastructure to support Thailand's economy this year

Thailand's record tourist arrivals and public works spending are expected to offset weak domestic demand and global economic drag, keeping Southeast Asia's second-largest economy on course for 3.1 percent growth this year, the central bank governor told R
Published 30 Aug, 2016 12:00am
Abbott sales beat on higher demand for medical devices

Abbott sales beat on higher demand for medical devices

Abbott Laboratories reported better-than-expected quarterly sales and profit as strong sales in its medical device business more than made up for the hit from an economic turmoil in Venezuela. Abbott is one of the major US companies to be affected by trou
Published 30 Aug, 2016 12:00am
StanChart sees further cuts to bad loan provisions in China, India

StanChart sees further cuts to bad loan provisions in China, India

Standard Chartered expects to further cut provisions for bad loans in its key markets of China and India, and is also looking to lower exposure to the heavy industry sector, the bank's Greater China and North Asia chief said on Thursday.
Published 30 Aug, 2016 12:00am
Aluminium giant Rusal profit plunges

Aluminium giant Rusal profit plunges

Russian aluminium giant Rusal said Thursday net profit fell 70 percent in the first half of 2016, as weaknesses in global commodities markets keeps prices depressed. The cost of aluminium sank to six-year lows below $1,500 a ton in 2015 as a growth slowdo
Published 30 Aug, 2016 12:00am
Broadcaster ITV axes bid for Peppa Pig owner

Broadcaster ITV axes bid for Peppa Pig owner

British television broadcaster ITV has axed its £1.0-billion ($1.3-billion, 1.2-billion-euro) bid for the London-listed company behind popular children's cartoon series Peppa Pig, it said Thursday. ITV said in a statement that it has decided to withdraw i
Published 30 Aug, 2016 12:00am
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