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Print - 2017-02-26
Dubai Holding chairman resigns to focus on government role

Dubai Holding chairman resigns to focus on government role

The chairman of Dubai Holding, the investment vehicle of the emirate's ruler and a major force in developing the Dubai economy, has resigned to focus on his role in the national government, the conglomerate said on Saturday. As head of Dubai Holding since
Published 26 Feb, 2017 12:00am
Iran plans to issue $4.5 billion in bonds for energy projects
Currency

Iran plans to issue $4.5 billion in bonds for energy projects

Iran is looking to offer up to $4.5 billion in rial and foreign currency-denominated bonds by March 2018, the oil ministry's news website SHANA reported on Saturday. Iranian authorities have been keen to attract foreign investors after the end of sanction
Published 26 Feb, 2017 12:00am
Iran plans to issue $4.5 billion in bonds for energy projects
Currency

Iran plans to issue $4.5 billion in bonds for energy projects

Iran is looking to offer up to $4.5 billion in rial and foreign currency-denominated bonds by March 2018, the oil ministry's news website SHANA reported on Saturday. Iranian authorities have been keen to attract foreign investors after the end of sanction
Published 26 Feb, 2017 12:00am
China summons reformer to tackle banking woes

China summons reformer to tackle banking woes

Guo Shuqing, who is stepping down as governor of Shandong province to take control of China's banking regulator, returns to Beijing at a decisive moment for the country's financial system following years of breakneck economic growth.
Published 26 Feb, 2017 12:00am
British Airways-parent lifts profit despite weak pound
Currency

British Airways-parent lifts profit despite weak pound

IAG, parent group of British Airways and Spanish carrier Iberia, grew profits in 2016 as lower fuel costs helped to offset the impact of a weaker pound, results showed Friday. Net profit rose almost a third to 1.93 billion euros ($2.0 billion) compared wi
Published 26 Feb, 2017 12:00am
British Airways-parent lifts profit despite weak pound
Currency

British Airways-parent lifts profit despite weak pound

IAG, parent group of British Airways and Spanish carrier Iberia, grew profits in 2016 as lower fuel costs helped to offset the impact of a weaker pound, results showed Friday. Net profit rose almost a third to 1.93 billion euros ($2.0 billion) compared wi
Published 26 Feb, 2017 12:00am
Bangladesh releases arrested factory workers: union

Bangladesh releases arrested factory workers: union

Bangladesh garment workers arrested last year over wage strikes are being released, global union IndustriALL said Saturday, adding that international fashion brands have agreed not to boycott a key industry conference in capital Dhaka. A strike by tens of
Published 26 Feb, 2017 12:00am
Greek holds 5.26 billion euros of gold, half stored abroad

Greek holds 5.26 billion euros of gold, half stored abroad

Greece's central bank said on Saturday it held 149.1 tonnes of gold reserves at the end of December worth 5.26 billion euros ($5.55 billion), with about half kept in its vaults and the rest stored abroad. Responding to a Greek newspaper report that half o
Published 26 Feb, 2017 12:00am
Greek holds 5.26 billion euros of gold, half stored abroad

Greek holds 5.26 billion euros of gold, half stored abroad

Greece's central bank said on Saturday it held 149.1 tonnes of gold reserves at the end of December worth 5.26 billion euros ($5.55 billion), with about half kept in its vaults and the rest stored abroad. Responding to a Greek newspaper report that half o
Published 26 Feb, 2017 12:00am
US SEC's Stein cautions on capital formation rules

US SEC's Stein cautions on capital formation rules

As the US Securities and Exchange Commission gears up for an expected liberalization of the rules that govern how companies raise capital, the commission's lone Democrat on Saturday urged the agency to tread carefully and avoid unduly harming investors.
Published 26 Feb, 2017 12:00am
US SEC's Stein cautions on capital formation rules

US SEC's Stein cautions on capital formation rules

As the US Securities and Exchange Commission gears up for an expected liberalization of the rules that govern how companies raise capital, the commission's lone Democrat on Saturday urged the agency to tread carefully and avoid unduly harming investors.
Published 26 Feb, 2017 12:00am
Warren Buffett rails against fee-hungry Wall Street managers

Warren Buffett rails against fee-hungry Wall Street managers

Billionaire Warren Buffett, whose stock picks over several decades have turned Berkshire Hathaway Inc into one of the most successful conglomerates, delivered another black eye to the investment industry on Saturday, saying investors should "stick with lo
Published 26 Feb, 2017 12:00am
Warren Buffett rails against fee-hungry Wall Street managers

Warren Buffett rails against fee-hungry Wall Street managers

Billionaire Warren Buffett, whose stock picks over several decades have turned Berkshire Hathaway Inc into one of the most successful conglomerates, delivered another black eye to the investment industry on Saturday, saying investors should "stick with lo
Published 26 Feb, 2017 12:00am
IPO of Snapchat company oversubscribed

IPO of Snapchat company oversubscribed

Next week's planned US$3.2bn IPO of Snap Inc, maker of the popular Snapchat app, is oversubscribed, market sources told IFR on Friday. The much-awaited deal is scheduled to price on Wednesday, with the company set to begin trading on the New York Stock Ex
Published 26 Feb, 2017 12:00am
Stars align for Russian Eurobond issues after three-year drought

Stars align for Russian Eurobond issues after three-year drought

Russian companies could issue three times as many Eurobonds this year as investor appetite returns after three torrid years linked to the Ukraine conflict, bankers and analysts say. Investors have snapped up more than $2 billion of Russian corporate Eurob
Published 26 Feb, 2017 12:00am
Stars align for Russian Eurobond issues after three-year drought

Stars align for Russian Eurobond issues after three-year drought

Russian companies could issue three times as many Eurobonds this year as investor appetite returns after three torrid years linked to the Ukraine conflict, bankers and analysts say. Investors have snapped up more than $2 billion of Russian corporate Eurob
Published 26 Feb, 2017 12:00am
TSX slumps most since September as energy, bank stocks weigh

TSX slumps most since September as energy, bank stocks weigh

Canada's benchmark stock index slumped on Friday, dropping by the most in over five months in a sharp pullback from a record high set earlier in the week, as heavily-weighted energy and financial stocks led a broad-based retreat. The Toronto Stock Exchang
Published 26 Feb, 2017 12:00am
Emerging market hedge fund assets hit record $200 billion

Emerging market hedge fund assets hit record $200 billion

The assets of hedge funds investing in emerging markets have surged above the $200 billion mark for the first time, rising by $9.3 billion in 2016, according to industry tracker Hedge Fund Research (HFR) said on Thursday. The Chicago-based group said the
Published 26 Feb, 2017 12:00am
Emerging market hedge fund assets hit record $200 billion

Emerging market hedge fund assets hit record $200 billion

The assets of hedge funds investing in emerging markets have surged above the $200 billion mark for the first time, rising by $9.3 billion in 2016, according to industry tracker Hedge Fund Research (HFR) said on Thursday. The Chicago-based group said the
Published 26 Feb, 2017 12:00am
Stoxx launches more granular corporate bond indices

Stoxx launches more granular corporate bond indices

Deutsche Boerse's index business Stoxx has set up a new series of indices to track the bond values of Europe's biggest companies, after launching its blue-chip corporate bond index last year. Stoxx is looking to build on its fixed-income index offering af
Published 26 Feb, 2017 12:00am
Stoxx launches more granular corporate bond indices

Stoxx launches more granular corporate bond indices

Deutsche Boerse's index business Stoxx has set up a new series of indices to track the bond values of Europe's biggest companies, after launching its blue-chip corporate bond index last year. Stoxx is looking to build on its fixed-income index offering af
Published 26 Feb, 2017 12:00am
Mongolia plans exchange of state-guaranteed bonds due in March

Mongolia plans exchange of state-guaranteed bonds due in March

The Government of Mongolia has hired banks for an exchange of the state-owned Development Bank of Mongolia's US dollar bonds due March 2017 for a proposed new issue. Credit Suisse and J.P. Morgan are joint dealer managers for the bond exchange. Investor m
Published 26 Feb, 2017 12:00am
Mongolia plans exchange of state-guaranteed bonds due in March

Mongolia plans exchange of state-guaranteed bonds due in March

The Government of Mongolia has hired banks for an exchange of the state-owned Development Bank of Mongolia's US dollar bonds due March 2017 for a proposed new issue. Credit Suisse and J.P. Morgan are joint dealer managers for the bond exchange. Investor m
Published 26 Feb, 2017 12:00am
South Korea plans to boost issuance of longer-dated bonds to 30 percent

South Korea plans to boost issuance of longer-dated bonds to 30 percent

South Korea's government plans to boost the issuance of longer-dated bonds to about 30 percent of the total this year from 25 percent in 2016, the head of the treasury bureau at the finance ministry said on Friday. In an interview with Reuters in Seoul, W
Published 26 Feb, 2017 12:00am
South Korea plans to boost issuance of longer-dated bonds to 30 percent

South Korea plans to boost issuance of longer-dated bonds to 30 percent

South Korea's government plans to boost the issuance of longer-dated bonds to about 30 percent of the total this year from 25 percent in 2016, the head of the treasury bureau at the finance ministry said on Friday. In an interview with Reuters in Seoul, W
Published 26 Feb, 2017 12:00am
India's Avenue Supermarts to launch $280 million

India's Avenue Supermarts to launch $280 million

India's Avenue Supermarts Ltd will take subscriptions for its initial public offering of up to 18.7 billion rupees ($280.42 million) on March 8-10 with the listing likely to take place on March 21, the supermarket operator said in a filing released on Fri
Published 26 Feb, 2017 12:00am
India's Avenue Supermarts to launch $280 million

India's Avenue Supermarts to launch $280 million

India's Avenue Supermarts Ltd will take subscriptions for its initial public offering of up to 18.7 billion rupees ($280.42 million) on March 8-10 with the listing likely to take place on March 21, the supermarket operator said in a filing released on Fri
Published 26 Feb, 2017 12:00am
US 10-year yields tumble to five-week lows

US 10-year yields tumble to five-week lows

US benchmark 10-year Treasury note yields dropped to five-week lows on Friday, pressured by declines in Europe amid persistent political uncertainty and a soft batch of US data that suggested a more mixed outlook for the world's largest economy. US 10-yea
Published 26 Feb, 2017 12:00am
US 10-year yields tumble to five-week lows

US 10-year yields tumble to five-week lows

US benchmark 10-year Treasury note yields dropped to five-week lows on Friday, pressured by declines in Europe amid persistent political uncertainty and a soft batch of US data that suggested a more mixed outlook for the world's largest economy. US 10-yea
Published 26 Feb, 2017 12:00am
Wall Street edges higher to give Dow 11th straight record

Wall Street edges higher to give Dow 11th straight record

Wall Street edged higher on Friday, with the Dow extending its streak of record-setting gains to 11 days, as increases in utilities and other safety plays outweighed declines in financials. Major Wall Street indexes have rallied to record levels since the
Published 26 Feb, 2017 12:00am
Canadian dollar posts one-week high
Currency

Canadian dollar posts one-week high

The Canadian dollar notched a one-week high against its US counterpart on Friday after data showed a spike in domestic inflation, but some gains were pared ahead of a Bank of Canada interest rate decision next week. Economists say the central bank will pu
Published 26 Feb, 2017 12:00am
Nigeria's new FX rules sow confusion for investors and traders
Currency

Nigeria's new FX rules sow confusion for investors and traders

Nigeria's latest efforts to tweak its exchange rate policy have baffled investors who say the moves fall short of the currency devaluation they had hoped for and will not lure money back into the economy. The central bank this week effectively devalued th
Published 26 Feb, 2017 12:00am
Dollar falls against yen on US policy doubts
Currency

Dollar falls against yen on US policy doubts

The US dollar fell to a more than two-week low against the Japanese yen on Friday as investors doubted the likelihood of swift tax reform and a quick spending boost from US President Donald Trump's administration. On Thursday, US Treasury Secretary Steven
Published 26 Feb, 2017 12:00am
FXCM changes company name; appoints interim CEO
Currency

FXCM changes company name; appoints interim CEO

Embattled US currency broker FXCM Inc said on Tuesday it has changed its company name to Global Brokerage Inc, two weeks after it had been ordered by the Commodities Futures Trading Commission to cease operations in the United States for fraud. In a state
Published 26 Feb, 2017 12:00am
Speculators lift long US dollar bets
Currency

Speculators lift long US dollar bets

Speculators increased bullish bets on the US dollar for the first time in seven weeks, according to Commodity Futures Trading Commission data released on Friday and calculations by Reuters. The value of the dollar's net long position totalled $15.02 billi
Published 26 Feb, 2017 12:00am
Euro recovery eases Le Pen push on Danish crown

Euro recovery eases Le Pen push on Danish crown

A recovery for the euro eased pressure on Scandinavian central banks worried about another round of deflationary gains in their local currencies on Thursday, with the Danish crown trading just below 8-month highs hit a day earlier. Denmark, Norway and Swe
Published 26 Feb, 2017 12:00am
Asia FX sentiment weakens, Philippine peso bearish bets rise
Currency

Asia FX sentiment weakens, Philippine peso bearish bets rise

Sentiment toward most emerging Asian currencies worsened from two weeks ago, with bearish positions in the Philippine peso increasing to the most in two months, a Reuters poll showed. The rise in short positions in the Philippine peso came after the peso
Published 26 Feb, 2017 12:00am
Sacked Ranieri says goodbye to Leicester stars

Sacked Ranieri says goodbye to Leicester stars

Claudio Ranieri visited Leicester City's training ground on Saturday to say farewell to his former players and staff after his shock sacking. Ranieri had visited the club's Belvoir Drive headquarters to clean out his office on Friday following his dismiss
Published 26 Feb, 2017 12:00am
Raonic, del Potro set up Delray Beach clash

Raonic, del Potro set up Delray Beach clash

Former US Open winner Juan Martin del Potro defeated defending champ Sam Querrey in straight sets to reach his second straight Delray Beach Open semi-final on Friday. The victory sets up a mouth-watering battle with top seed Canadian Milos Raonic on Satur
Published 26 Feb, 2017 12:00am
De Villiers record knock sets up win over New Zealand

De Villiers record knock sets up win over New Zealand

A record-setting innings by AB de Villiers set South Africa up for a resounding 159-run win in the third one-day international against New Zealand in Wellington on Saturday to go 2-1 up in the series. It was an emphatic response by the world's top-ranked
Published 26 Feb, 2017 12:00am
Alpine skiing: Stuhec takes World Cup Super-G

Alpine skiing: Stuhec takes World Cup Super-G

Ilka Stuhec of Slovenia, crowned downhill world champion just two weeks ago, won the women's Super-G at Crans-Montana on Saturday for her sixth World Cup win of the season. Stuhec clocked 1min 21.78sec to edge Italian Elena Curtoni by 0.50sec with Austria
Published 26 Feb, 2017 12:00am
Junior Squash Championship enters into quarter-final stage

Junior Squash Championship enters into quarter-final stage

All Pakistan National Junior Squash Championship 2017 entered into quarter-final stage on Saturday. In Under-19 boys event, Abbas Zeb (KPK) beat Saifullah (KPK) by 11/6,11/9,9/11,11/8 (35m), Nasir Khan (KPK) beat Haris Iqbal (KPK) by 11/8,10/12,11/7,11/6,
Published 26 Feb, 2017 12:00am
Pele's son turns self in for Brazil prison sentence

Pele's son turns self in for Brazil prison sentence

The son of football legend Pele turned himself in late Friday after being ordered by a Brazilian court to begin serving a nearly 13-year prison sentence for money laundering and drug trafficking. Edson "Edinho" Cholbi do Nascimento, who briefly played for
Published 26 Feb, 2017 12:00am
Czech playmaker Dockal signs up in China

Czech playmaker Dockal signs up in China

Czech Republic international playmaker Borek Dockal is moving from Sparta Prague to the Chinese Super League side Henan Jianye, the Czech club said on Saturday. The 28-year-old midfielder has signed a three-year deal which Czech media said was worth up to
Published 26 Feb, 2017 12:00am
Sri Lanka drops Mathews from Bangladesh Tests

Sri Lanka drops Mathews from Bangladesh Tests

Sri Lanka skipper Angelo Mathews was Saturday ruled out of next month's two-Test home series against Bangladesh as selectors prepared to field a "formidable team". The 29-year-old all rounder, however, was "likely to be available" for the three one-day in
Published 26 Feb, 2017 12:00am
National U-23 Men Volleyball Championship from February 27

National U-23 Men Volleyball Championship from February 27

Chief Minister Khyber Pakhtunkhwa National U-23 Men Volleyball Championship will be played from February 27 to March 3, 2017 here at PSB Coaching Center Hall. Talking to media Secretary Khyber Pakhtunkhwa Volleyball Association Khalid Waqar here on Saturd
Published 26 Feb, 2017 12:00am
Costa wins Abu Dhabi mountain stage

Costa wins Abu Dhabi mountain stage

Portugal's Rui Costa dropped all comers up the 12km Jebel Hafeet mountain Saturday to claim the third stage of the Tour of Abu Dhabi and take a firm grip on the overall lead. The former world champion stands a great chance of overall victory as Sunday's f
Published 26 Feb, 2017 12:00am
Australia seal 333-run win over India

Australia seal 333-run win over India

Australia beat India by 333 runs on Saturday in an outstanding victory that ended the hosts' unbeaten streak of 19 Tests in the opening match of the series in Pune. Chasing a daunting 441, the world's top side crashed to 107 all out early in the final ses
Published 26 Feb, 2017 12:00am
Kuwait could pay up to $60,000 for party at Trump Hotel in Washington

Kuwait could pay up to $60,000 for party at Trump Hotel in Washington

The Kuwaiti government could pay up to $60,000 to President Donald Trump's hotel in Washington for a party on Saturday that will be an early test of Trump's promise to turn over profits from such events to the US Treasury. The Kuwait Embassy is hosting an
Published 26 Feb, 2017 12:00am
NASA mulls putting astronauts on deep space test flight

NASA mulls putting astronauts on deep space test flight

The US space agency said Friday it is considering putting astronauts on an upcoming test flight of the deep space capsule Orion as it aims to orbit the Moon. Orion is being built with an eye to one day ferrying astronauts to Earth's neighboring planet, Ma
Published 26 Feb, 2017 12:00am
Russian writer sparks war of words by joining Ukraine rebels

Russian writer sparks war of words by joining Ukraine rebels

One of Russia's best known novelists, Zakhar Prilepin, has sparked a bitter row among top writers by revealing he is now fighting with pro-Russian separatists in Ukraine. Prilepin is acclaimed for novels drawing on his experiences of serving with Russian
Published 26 Feb, 2017 12:00am
Four killed in Nigerian pipeline blast

Four killed in Nigerian pipeline blast

At least four people were killed following a gas pipeline explosion in Nigeria's oil-producing south, a local official said Saturday. "We have lost three people" to the explosion in Rivers state on Wednesday afternoon said Chris Idika, a clergy and commun
Published 26 Feb, 2017 12:00am
China photography provocateur, Ren Hang, dies

China photography provocateur, Ren Hang, dies

One of China's most promising and provocative young photographers, Ren Hang, has died aged 29, his gallery confirmed Saturday. The artist was known for racy nude shots of his friends in which genders blur and limbs intertwine. His gallery, Hong Kong-based
Published 26 Feb, 2017 12:00am
China hotel fire kills at least 10

China hotel fire kills at least 10

At least 10 people were killed in a huge fire at a hotel in eastern China, the official Xinhua news agency said Saturday. The blaze broke out at the four-storey HNA Platinum Mix Hotel Saturday morning in Nanchang, the capital of Jiangxi province, and took
Published 26 Feb, 2017 12:00am
Iraqi Kurdish TV reporter killed

Iraqi Kurdish TV reporter killed

A female reporter working for Iraqi Kurdish channel Rudaw was killed Saturday covering the fighting between government forces and the Islamic State group in Mosul, her channel said. "Prominent Rudaw war reporter and journalist Shifa Gardi has been killed
Published 26 Feb, 2017 12:00am
Iraqi forces push deeper into west Mosul

Iraqi forces push deeper into west Mosul

Iraqi forces backed by jets and helicopters battled jihadists inside west Mosul Saturday but still faced a tough and potentially protracted battle to retake the Islamic State group's bastion. Almost a week into a major push on the city's west bank, they w
Published 26 Feb, 2017 12:00am
Syria talks challenged as suicide blasts kill dozens

Syria talks challenged as suicide blasts kill dozens

UN efforts to launch a new round of Syria peace talks sputtered Saturday as suicide attacks killed dozens of people, with the death toll from two days of violence nearing 100. The blasts targeting two security service bases in Homs, Syria's third city, ki
Published 26 Feb, 2017 12:00am
Boosting Erdogan powers will make 'strong Turkey': PM

Boosting Erdogan powers will make 'strong Turkey': PM

Prime Minister Binali Yildirim urged Turks to approve constitutional changes to boost President Recep Tayyip Erdogan's powers on Saturday, saying it would make Turkey stronger. Yildirim spoke at the ruling party's first rally ahead of a key April 16 refer
Published 26 Feb, 2017 12:00am
Confidant of France's Le Pen charged over loan

Confidant of France's Le Pen charged over loan

A confidant of French presidential candidate Marine Le Pen has been charged with making an illegal loan to her far-right National Front party, judicial sources said Saturday. It is the second fraud case in recent weeks to be filed against someone close to
Published 26 Feb, 2017 12:00am
Kim killing suspect was paid $90 to take part in 'TV prank'

Kim killing suspect was paid $90 to take part in 'TV prank'

An Indonesian woman being held over the assassination of Kim Jong-Nam said Saturday she had been paid just RM400 ($90) for taking part in what she thought was a TV prank show, a senior diplomat reportedly told media. Siti Aisyah, who was arrested soon aft
Published 26 Feb, 2017 12:00am
Teams seal off scene of Kim killing, sweep terminal

Teams seal off scene of Kim killing, sweep terminal

Civil defence personnel in hazmat suits sealed off the scene of the airport assassination of Kim Jong-Nam early Sunday to sweep the site for toxins - almost two weeks after he was killed with a lethal nerve agent. Teams equipped with gas masks and special
Published 26 Feb, 2017 12:00am
Duterte fans, foes in mass Manila rallies

Duterte fans, foes in mass Manila rallies

Thousands of supporters and foes of President Rodrigo Duterte joined large rallies in Manila on Saturday, highlighting how his brutal drug war has polarised the Philippines. A prayer rally for Duterte's eight months-long anti-narcotics crackdown drew the
Published 26 Feb, 2017 12:00am
Hollande hit backs at Trump over Paris criticism

Hollande hit backs at Trump over Paris criticism

French President Francois Hollande on Saturday hit back at Donald Trump after the US president criticised France in a veiled attack on its immigration policies and those of its European allies. "It is never good to show the slightest mistrust towards a fr
Published 26 Feb, 2017 12:00am
California requests $440 million for flood control after dam crisis

California requests $440 million for flood control after dam crisis

California's governor announced Friday a $437 million plan for flood control and emergency response following a recent crisis in which part of the tallest dam in the United States nearly failed, causing massive evacuations. Almost 200,000 people fled thei
Published 26 Feb, 2017 12:00am
Mugabe talks of own death at 93rd birthday party

Mugabe talks of own death at 93rd birthday party

Zimbabwean President Robert Mugabe celebrated his 93rd birthday with a lavish party on Saturday, addressing his own mortality in a speech, but showing no signs of stepping down. Wearing a black cowboy hat, Mugabe, who is increasingly frail, paused for len
Published 26 Feb, 2017 12:00am
Libya government secures ceasefire after Tripoli clashes

Libya government secures ceasefire after Tripoli clashes

A ceasefire went into force early Saturday in the Libyan capital after two days of fighting between rival gunmen injured nine people and forced residents to cower indoors, the government said. The fighting between two rival armed groups in eastern Tripoli
Published 26 Feb, 2017 12:00am
Mexican sex trafficker gets 15 years in US prison

Mexican sex trafficker gets 15 years in US prison

A US federal court Friday sentenced a leading member of a Mexican sex trafficking ring to more than 15 years in prison for forcing women and underage girls into prostitution in the United States. Paulino Ramirez Granados, a 39-year-old whose family ran a
Published 26 Feb, 2017 12:00am
Rival rallies in Seoul over Park impeachment

Rival rallies in Seoul over Park impeachment

Hundreds of thousands of South Koreans held rival protests in Seoul Saturday over the impeachment of President Park Geun-Hye on the fourth anniversary of her swearing into office. Park was impeached by parliament in December over a corruption scandal that
Published 26 Feb, 2017 12:00am
India's wheat imports to slow after March on fumigation rule change

India's wheat imports to slow after March on fumigation rule change

India's wheat imports from Russia, France and Ukraine could come to a halt after March, as New Delhi has asked exporters to fumigate their cargoes with methyl bromide, an insect control gas banned in Europe and the Black Sea region. Currently, food shipme
Published 26 Feb, 2017 12:00am
LME cuts deal with banks to propel gold futures

LME cuts deal with banks to propel gold futures

The London Metal Exchange has reached a 50:50 revenue-sharing deal with a company founded by a group of banks to promote trade in its new gold futures contracts, sources said, aiming to overcome market scepticism surrounding their launch in June. Usually,
Published 26 Feb, 2017 12:00am
Iran makes first raw sugar purchases in months to boost stocks

Iran makes first raw sugar purchases in months to boost stocks

Importers in Iran have bought up to 250,000 tonnes of Brazilian raw sugar in the first purchases in months as the country looks to bolster strategic stocks, trade sources said on Tuesday. The sources said the cargoes were for February shipment, adding tha
Published 26 Feb, 2017 12:00am
Ethanol imports sink after tax hike

Ethanol imports sink after tax hike

China imported 2,415 cubic metres of ethanol last month, its second smallest volume in the past year, data showed on Friday, as a big hike in taxes curbed demand from the world''s fastest-growing biofuel market. Nearly all of the imports came from Vietnam
Published 26 Feb, 2017 12:00am
Ethanol imports sink after tax hike

Ethanol imports sink after tax hike

China imported 2,415 cubic metres of ethanol last month, its second smallest volume in the past year, data showed on Friday, as a big hike in taxes curbed demand from the world's fastest-growing biofuel market. Nearly all of the imports came from Vietnam,
Published 26 Feb, 2017 12:00am
Global nickel market moves to a surplus

Global nickel market moves to a surplus

The worldwide nickel market moved to a surplus of 9,700 tonnes in December from a deficit of 1,700 tonnes the previous month, the International Nickel Study Group said on Tuesday. Last year the global nickel market registered a deficit of 49,700 tonnes wh
Published 26 Feb, 2017 12:00am
Russian wheat prices stable on favourable weather

Russian wheat prices stable on favourable weather

Russian wheat prices were stable as a cold spell last week did not damage winter grain sowings and the weather was expected to be favourable for the crop in coming days, an analyst said on Monday. Black Sea prices for Russian wheat with 12.5 percent prote
Published 26 Feb, 2017 12:00am
Unleash the entrepreneur in every small farmer: new UN agency chief

Unleash the entrepreneur in every small farmer: new UN agency chief

Training young farmers to turn agriculture into a business is key to eradicating poverty and curbing economic migration, the new president of the UN agricultural development agency said on Wednesday. Three quarters of the world's poorest people live in ru
Published 26 Feb, 2017 12:00am
Japan feedmakers to tap corn stocks

Japan feedmakers to tap corn stocks

Japan's feedmakers are expected to tap the country's emergency stockpiles of corn as inventories decline to critically low levels due to a delay in shipments from the United States. Japan's Ministry of Agriculture, Forestry and Fisheries plans to approve
Published 26 Feb, 2017 12:00am
ISO lowers global sugar deficit forecast

ISO lowers global sugar deficit forecast

The International Sugar Organization on Tuesday scaled back its global sugar deficit forecast for the 2016/17 season to 5.869 million tonnes, from a previous estimate of 6.19 million tonnes. The inter-governmental body also projected there would be a 5.35
Published 26 Feb, 2017 12:00am
South Africa expected to harvest 68 percent more maize

South Africa expected to harvest 68 percent more maize

South Africa farmers are expected to harvest 68 percent more maize this season as increased rainfall has boosted plantings, a Reuters poll of six traders and market analysts showed on Friday. The government's Crop Estimates Committee (CEC), which will pro
Published 26 Feb, 2017 12:00am
Brazil publishes rules for robusta coffee imports

Brazil publishes rules for robusta coffee imports

Brazil's Agriculture Ministry published the rules companies should follow to bring into the country robusta coffee from Vietnam in its official gazette on Monday, marking the first time the world's largest producer will buy coffee abroad. The publication
Published 26 Feb, 2017 12:00am
Syria strikes big new Russian wheat deal via local firms

Syria strikes big new Russian wheat deal via local firms

Syria's state grain buyer has signed contracts with local traders for 1.2 million tonnes of Russian wheat, a government source said, the country's second attempt at a huge wheat deal since October as it tries to secure supplies of the food staple. "We hav
Published 26 Feb, 2017 12:00am
Efforts under way to counter challenges: CCPO

Efforts under way to counter challenges: CCPO

Police is putting all possible efforts to deal with complex set of challenges on account of current internal security situation, said Capital City Police Officer (CCPO) Captain (Retd) Muhammad Amin. He was speaking here at the Federation of Pakistan Chamb
Published 26 Feb, 2017 12:00am
PIAF supports 'Raddul Fasaad' to weed out terrorism

PIAF supports 'Raddul Fasaad' to weed out terrorism

Pakistan Industrial and Traders Associations Front (PIAF) termed ongoing operation "Raddul Fasaad" against terrorists and subversive elements in the country as important step, saying the new operation along with deployment of rangers in Punjab would stren
Published 26 Feb, 2017 12:00am
Swiss firm's official meets CEO PBIT

Swiss firm's official meets CEO PBIT

Dr Kai Henning Viehweger, Executive Vice President of a reputed Swiss company Metrohm International that specializes in the production of chemical and laboratory equipment, met Muhammad Mudassir Tipu, Acting CEO of Punjab Board of Investment of Trade (PBI
Published 26 Feb, 2017 12:00am
LPGAP voices concern over Ogra notification

LPGAP voices concern over Ogra notification

LPG Association of Pakistan (LPGAP) has expressed its concern over the notification issued by Oil and Gas Regulatory Authority (OGRA) for setting Rs 910 consumer price of LPG inclusive of all taxes and charges. The association's spokesman on Saturday said
Published 26 Feb, 2017 12:00am
Punjab to launch hepatitis control programme

Punjab to launch hepatitis control programme

A vigorous campaign would be launched for prevention, control and registration of hepatitis patients in Punjab and treatment facilities would be provided to all registered patients. For this purpose, Punjab Hepatitis Control Programme would be strengthene
Published 26 Feb, 2017 12:00am
Fesco okays shifting of LT/HT lines

Fesco okays shifting of LT/HT lines

A meeting of Faisalabad Electric Supply Company (FESCO) Board of Directors (BOD) held here at FESCO Headquarters unanimously approved the shifting of LT & HT electricity lines passing through roofs of 25 localities in area of NA-85 of MNA Haji Akram Ansar
Published 26 Feb, 2017 12:00am
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