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Print - 2017-03-04
PSL final Health department finalises arrangements

PSL final Health department finalises arrangements

The health department has finalised all necessary arrangements on the occasion of final of PSL being staged in Lahore on March 5. Sir Ganga Ram Hospital has set up a temporary six-bed hospital at a hotel where players and foreign guests are staying while
Published 04 Mar, 2017 12:00am
Ambassadors in India, Afghanistan may be changed

Ambassadors in India, Afghanistan may be changed

The government has decided to appoint and transfer certain ambassadors in different world capitals including India, Afghanistan, Turkey and Japan, it was learnt. According to sources, Asad Majeed Khan who is currently serving as Additional Secretary Ameri
Published 04 Mar, 2017 12:00am
CPEC discontents

CPEC discontents

Sardar Akhtar Jan Mengal, president of the Balochistan National Party-Mengal (BNP-M), while addressing a meeting in Quetta on February 28, dwelt once again on his province's discontents with the China Pakistan Economic Corridor (CPEC). Mengal accused Isla
Published 04 Mar, 2017 12:00am
Chambers' view on tax proposals

Chambers' view on tax proposals

The business community seems to have taken a totally different approach the question of tax proposals to the Federal Board of Revenue (FBR) for the FY18. At a convention organised by the Karachi Chamber of Commerce and Industry to seek resolution of their
Published 04 Mar, 2017 12:00am
Power sector still constitutes big challenge

Power sector still constitutes big challenge

The incumbent government, on taking over the reigns of power in May 2013, made commitments to fix the ailing power sector bleeding the economy and causing misery to people enduring hours of load shedding. Fixing the power sector was made top priority by t
Published 04 Mar, 2017 12:00am
Revisional jurisdiction under the Customs Act

Revisional jurisdiction under the Customs Act

The powers of revision of a matter by a competent authority are meant for a re-examination or a careful review for correcting the error or mistake for improvement. In the Customs Act, 1969 [hereinafter referred to as Act] the powers are contained in secti
Published 04 Mar, 2017 12:00am
For migrants, Canada is haven, not Trump's America

For migrants, Canada is haven, not Trump's America

A taxi stops in the small town of Champlain. Loaded down with belongings, a family with two children gets out and hurries to the road's end at a stream marking the US-Canada border. "We are coming all the way from Jersey City," says the father, Mohammed A
Published 04 Mar, 2017 12:00am
Unfair system

Unfair system

This is apropos a Business Recorder op-ed "All stand fully exposed" carried by the newspaper yesterday. The writers, Huzaima Bukhari and Dr Ikramul Haq, have argued that "The only losers are the poor and helpless of this Land of Pure, who are burde
Published 04 Mar, 2017 12:00am
US MIDDAY: gold falls, heads for weekly drop

US MIDDAY: gold falls, heads for weekly drop

Gold fell 1 percent on Friday and was on track for its biggest weekly loss in 2017 as speculation grew that the US Federal Reserve would press ahead with a rate increase this month. Fed Chair Janet Yellen said on Friday that the central bank is set to rai
Published 04 Mar, 2017 12:00am
US MIDDAY: soyabeans and corn ease

US MIDDAY: soyabeans and corn ease

US corn and soyabean futures eased on Friday on profit-taking as the ongoing harvest of big crops in South America continued to weigh on the market. Wheat futures also were lower, with concerns about additional supplies flooding the export market pressuri
Published 04 Mar, 2017 12:00am
Oil rebounds from recent weakness, still rangebound

Oil rebounds from recent weakness, still rangebound

Oil prices surged on Friday, as a weaker dollar encouraged buying but investors remained cautious after Russian production figures showed weak compliance with a global deal to cut output. Global benchmark Brent settled up 82 cents, or 1.5 percent, to $55.
Published 04 Mar, 2017 12:00am
India needs 1.5 million tonnes of sugar imports in 2017

India needs 1.5 million tonnes of sugar imports in 2017

India, the world's biggest consumer of sugar, will likely need to import around 1.5 million tonnes of the sweetener this 2016/2017 season, the chairman of one of the country's sugar trade associations told Reuters on Monday. "The timing of the imports wil
Published 04 Mar, 2017 12:00am
Gold falls in Europe

Gold falls in Europe

Gold fell half a percent on Friday and was on track for its biggest weekly loss in nearly four months as speculation grew that the US Federal Reserve would press ahead with a rate increase this month. The probability of a Fed move in March rose to nearly
Published 04 Mar, 2017 12:00am
Gold down in Asia

Gold down in Asia

Gold fell on Friday and was on track for its first weekly decline in five, its worst since November, on growing expectations of a US rate hike as early as this month. Spot gold dropped 0.3 percent to $1,231.31 per ounce at 0730 GMT, after hitting a low of
Published 04 Mar, 2017 12:00am
Gold plunges in New York

Gold plunges in New York

Gold prices were on track for their weakest session since December on Thursday, buoyed by a firm dollar and rising US rate hike expectations in March following buoyant US economic data and hawkish comments from Federal Reserve governors. Spot gold was dow
Published 04 Mar, 2017 12:00am
Robusta coffee slips on Vietnam selling, cocoa extends rebound

Robusta coffee slips on Vietnam selling, cocoa extends rebound

Robusta coffee futures on ICE fell on Friday, pressured by physical selling in top producer Vietnam, while cocoa rebounded further above multiyear lows on chart-based buying and sugar prices eased. May robusta settled down $21, or 0.95 percent, at $2,194
Published 04 Mar, 2017 12:00am
Palm oil charts fourth consecutive day of gains

Palm oil charts fourth consecutive day of gains

Malaysian palm oil futures rose slightly late on Friday, charting a fourth consecutive session of gains on forecasts that February inventory levels could remain flat. Flat or declining inventory levels usually lend support to palm oil prices. End-stocks i
Published 04 Mar, 2017 12:00am
Rubber down

Rubber down

Benchmark Tokyo rubber futures fell on Friday after two days of gains as worries about a supply shortage eased amid relatively high stockpiles in China, dealers said. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in S
Published 04 Mar, 2017 12:00am
Thailand to stop sugar subsidy

Thailand to stop sugar subsidy

Thailand will stop subsidising sugar production and drop domestic control of consumer prices for sugar by the end of the year, a Ministry of Agriculture official said on Tuesday. Brazil challenged Thailand at the World Trade Organisation (WTO) in March la
Published 04 Mar, 2017 12:00am
Kirkuk oil flows in jeopardy again

Kirkuk oil flows in jeopardy again

Iraq's Kurdistan is facing growing tensions between its government and the key opposition faction, which briefly disrupted oil flows from the semi-autonomous region this week and has threatened to take more action in coming days. At the centre of the disp
Published 04 Mar, 2017 12:00am
Copper ends week lower on US rate prospects

Copper ends week lower on US rate prospects

Copper prices ended slightly lower on Friday, finishing the week a little softer as the dollar largely retained recent gains on expectations that the US Federal Reserve would raise interest rates this month. Though the dollar eased on Friday, the previous
Published 04 Mar, 2017 12:00am
Shanghai copper down

Shanghai copper down

Shanghai Futures Exchange copper pared losses to close down 0.9 percent at 48,280 yuan ($6,999) a tonne on Friday as a stronger dollar overwhelmed ongoing supply disruptions and evidence of improving demand. Other SHFE metals also cut losses. Shanghai zin
Published 04 Mar, 2017 12:00am
Tunisia and Germany strike new immigration deal

Tunisia and Germany strike new immigration deal

German Chancellor Angela Merkel announced a new agreement with Tunisia on tackling illegal migration during a visit Friday, following tensions over the case of the Tunisian suspect in the Berlin market attack. Merkel, on a two-day trip to North Africa tha
Published 04 Mar, 2017 12:00am
China bus collision kills 10, injures 38

China bus collision kills 10, injures 38

Ten people were killed and another 38 injured when a passenger bus collided with a cement truck in south-western China, state media reported on Friday. The collision late Thursday in Yunnan province, near the border with Myanmar, tossed the bus on its sid
Published 04 Mar, 2017 12:00am
Trump defiant as new Russia ties emerge

Trump defiant as new Russia ties emerge

An avalanche of new revelations about ties between Donald Trump's aides and Russia forced the White House back on the offensive Friday, overshadowing a presidential weekend trip to Florida and his well-received major speech. Before heading to his Mar-a-La
Published 04 Mar, 2017 12:00am
Fillon suffers new blow as Juppe waits in wings

Fillon suffers new blow as Juppe waits in wings

Embattled French presidential candidate Francois Fillon suffered a new setback Friday as his spokesman quit, while veteran conservative Alain Juppe stood ready to replace him in the race. Spokesman Thierry Solere posted on Twitter that he was leaving Fill
Published 04 Mar, 2017 12:00am
BBC reporters attacked in China, forced to 'confess'

BBC reporters attacked in China, forced to 'confess'

A crew of BBC reporters in China was attacked by a mob and later forced to sign a police confession for attempting an "illegal interview", the British broadcaster said Friday. The journalists were trying to reach a woman in Xinhua county in southern Hunan
Published 04 Mar, 2017 12:00am
McDonald's serves 'McLizard' to Indian woman

McDonald's serves 'McLizard' to Indian woman

Would you like some fries with that lizard? A pregnant woman in Kolkata in eastern India has complained of finding a lizard in the french fries she bought at her local McDonald's restaurant. McDonald's said Friday it was investigating the incident. A pict
Published 04 Mar, 2017 12:00am
McDonald's serves 'McLizard' to Indian woman

McDonald's serves 'McLizard' to Indian woman

Would you like some fries with that lizard? A pregnant woman in Kolkata in eastern India has complained of finding a lizard in the french fries she bought at her local McDonald's restaurant. McDonald's said Friday it was investigating the incident. A pict
Published 04 Mar, 2017 12:00am
New assembly takes shape after snap Northern Irish elections

New assembly takes shape after snap Northern Irish elections

The new Northern Ireland Assembly was taking shape Friday after snap elections that energised voters but ultimately could fail to resolve the deadlock that triggered them. Tensions boiled over in January between the two parties in the power-sharing execut
Published 04 Mar, 2017 12:00am
Syria peace talks inch forward under diplomatic pressure

Syria peace talks inch forward under diplomatic pressure

UN-sponsored Syria peace talks limped towards a close on Friday after more than a week in Geneva with little sign of progress beyond possible agreement on an agenda for more substantial negotiations. That may seem a low bar by which to judge diplomatic ac
Published 04 Mar, 2017 12:00am
Turkey claims Berlin working against Erdogan powers referendum

Turkey claims Berlin working against Erdogan powers referendum

Ankara and Berlin were locked in acrimony Friday after the cancellation of rallies in Germany ahead of a referendum on whether to expand President Recep Tayyip Erdogan's powers. German Chancellor Angela Merkel rejected Ankara's accusations that her govern
Published 04 Mar, 2017 12:00am
CPEC projects will start contributing in revenue generation: Haroon

CPEC projects will start contributing in revenue generation: Haroon

Special Assistant to the Prime Minister on Revenue, Haroon Akhtar Khan has conveyed to the collectors of customs that the China-Pakistan Economic Corridor (CPEC) projects will start contributing in revenue generation of the Federal Board of Revenue (FBR).
Published 04 Mar, 2017 12:00am
APBF for reducing tax ratio to keep oil rates stable

APBF for reducing tax ratio to keep oil rates stable

The All Pakistan Business Forum (APBF) has criticised the government for increasing fuel prices as it will lead to increase in cost of production. APBF President Ibrahim Qureshi said that though the prices of oil in global market is going up yet the autho
Published 04 Mar, 2017 12:00am
CADD, CDA officials grilled over alleged corrupt practices

CADD, CDA officials grilled over alleged corrupt practices

The Ministry of Capital Administration and Development Division (CADD) and Capital Development Authority (CDA) were grilled on Friday by a parliamentary committee over their failure to take timely steps to stop corrupt practices and irregularities worth m
Published 04 Mar, 2017 12:00am
PSL final: PCB invites dignitaries, former cricketers

PSL final: PCB invites dignitaries, former cricketers

In a bid to attract more crowds at Ghaddafi Stadium where Pakistan Super League (PSL) final is going to be played on March 5, Pakistan Cricket Board (PCB) sent invitation cards to senior government ministers, officials and former cricketers on Friday. Cha
Published 04 Mar, 2017 12:00am
FIA director probing high profile cases removed

FIA director probing high profile cases removed

The government on Friday removed director Federal Investigation Agency (FIA) Islamabad, from his post who was heading some high profile corruption inquires against some top government officials. An official source said that Director FIA Islamabad Dr Mazha
Published 04 Mar, 2017 12:00am
IPMU to check corruption within FBR

IPMU to check corruption within FBR

Board-in-Council of the Federal Board of Revenue (FBR) Friday decided to operationalise Integrity & Performance Management Unit (IPMU) to check corruption within the tax machinery. When contacted, sources said that the FBR had created Integrity & Performa
Published 04 Mar, 2017 12:00am
SSGC installs under water pipeline in Indus for RLNG

SSGC installs under water pipeline in Indus for RLNG

Sui Southern Gas Company's (SSGC's) diligent team of engineers and technicians along with the contractor (M/s. China Petroleum Pipeline Bureau, China) on Friday completed a challenging task by successfully installing 2.1 km of 42 inches diameter gas pipel
Published 04 Mar, 2017 12:00am
'Local Eye' launched

'Local Eye' launched

The Punjab police in collaboration with the Strategic Reform Unit (SRU) of the Chief Minister's office on Friday launched a 'Local Eye' android-based mobile application with an aim to curb crimes in the provincial capital. "We have launched this applicati
Published 04 Mar, 2017 12:00am
Electrocardiogram facility inaugurated at UVAS

Electrocardiogram facility inaugurated at UVAS

The University of Veterinary and Animal Sciences Lahore Vice-Chancellor Professor Dr Talat Naseer Pasha inaugurated ECG electrocardiogram facility provided by UVAS Department of Physiology at Pet Centre city Campus (UVAS) Lahore. ECG service is provided f
Published 04 Mar, 2017 12:00am
SECP reports defaulting broker to global securities regulators

SECP reports defaulting broker to global securities regulators

The Securities and Exchange Commission of Pakistan (SECP) has reported MR Securities, the Lahore-based stockbroker involved in financial fraud, to international securities regulators through the International Organisation of Securities Commissions (IOSCO)
Published 04 Mar, 2017 12:00am
Shahbaz stresses unity

Shahbaz stresses unity

Punjab Chief Minister Shahbaz Sharif has said that Pakistan is for all of us and we should jointly work for the progress and prosperity of the country. He said the country is more in need of unity and harmony today than before. He expressed these views wh
Published 04 Mar, 2017 12:00am
Jatoi says government to support local auto manufacturing

Jatoi says government to support local auto manufacturing

The Federal Minister for Industries and Production, Ghulam Murtaza Khan Jatoi, said that the government will support local manufacturers to increase export and help them capture international markets. Inaugurating Pakistan Auto Show (PAPS), which was held
Published 04 Mar, 2017 12:00am
Elahi raises questions over Punjab government's responsibility

Elahi raises questions over Punjab government's responsibility

Pakistan Muslim League-Q (PML-Q) senior leader and former deputy prime minister Chaudhry Pervez Elahi has criticised the PML-N led Punjab government for calling army to hold PSL final match in Lahore. "If the Punjab government cannot arrange six-hour matc
Published 04 Mar, 2017 12:00am
Balochistan lawmakers demand raise in Hajj quota

Balochistan lawmakers demand raise in Hajj quota

The Provincial Assembly of Balochistan transacted most of Private Members agenda including adoption of a resolution demanding raise in Hajj quota for Balochistan, while lack of quorum led to early adjournment of sitting on Thursday, observed Free and Fair
Published 04 Mar, 2017 12:00am
Lucky Cement clinches MAP excellence award 2016

Lucky Cement clinches MAP excellence award 2016

Lucky Cement Limited has won the Management Association of Pakistan's Top "Amir S. Chinoy Corporate Excellence Award 2016" in the Industrial category amongst all corporate sector organisations in Pakistan. The company was competing for the award amongst 1
Published 04 Mar, 2017 12:00am
IHC rejects Hotel Grand Hyatt's plea

IHC rejects Hotel Grand Hyatt's plea

Islamabad High Court on Friday rejected the plea of Hotel Grand Hyatt seeking remedy against Capital Development Authority's cancellation of lease deed of 13.5 acres of land allotted to BNP, a company, for construction of the five-star hotel. The court al
Published 04 Mar, 2017 12:00am
Pesco officers directed to reduce line losses

Pesco officers directed to reduce line losses

The new Chief Executive Officer (CEO), Peshawar Electricity Supply Company (PESCO), Engineer Shabir Ahmad has given targets to all Superintending Engineers (SEs) for reduction in line losses, enhancement of recovery, 100 percent photo meter reading and ER
Published 04 Mar, 2017 12:00am
OPF housing scheme: NA body summons DCO, CDA chief

OPF housing scheme: NA body summons DCO, CDA chief

National Assembly Committee on Overseas Pakistanis and Human Resource Development summoned DCO Islamabad, revenue officers Islamabad, chairman CDA and FWO high-ups to resolve the issues of OPF Housing Scheme Zone-V Islamabad, for its timely completion. Th
Published 04 Mar, 2017 12:00am
Partly Facetious: Man who shall remain nameless
Cotton

Partly Facetious: Man who shall remain nameless

"The capital is not abuzz with Mian sahib's prime ministerial handling of the Economic Co-ordination Organisation summit where member countries dignitaries got to see a Saville Row clad Prime Minister..."
Published 04 Mar, 2017 12:00am
Chinese firm's chief calls on PM

Chinese firm's chief calls on PM

Xu Ziqiu, Chairman China Shipbuilding Company called on the Prime Minister Nawaz Sharif at PM House Islamabad, here on Friday. The Prime Minister stated that government has seriously focused on improvement in agriculture, industrial and services sectors.
Published 04 Mar, 2017 12:00am
Ministry seeks state protection, support price for cotton crop
Cotton

Ministry seeks state protection, support price for cotton crop

Ministry of Textile Industry has sought state protection and support price for cotton crop to arrest its continuing fall, as crop production came down from 14 million bales to 10 million bales during the last two years. The country is spending huge foreig
Published 04 Mar, 2017 12:00am
Absence of officials irks NA body

Absence of officials irks NA body

The sub-committee of National Assembly Standing Committee on Interior and Narcotics Control on Friday expressed serious displeasure over non-serious attitude of Ministry of Interior as well as absence of its senior officials from the meeting.
Published 04 Mar, 2017 12:00am
SECP registers 854 companies in February

SECP registers 854 companies in February

The SECP registered 854 companies in February 2017. The corporate growth that witnessed a good momentum during 2016 is continuing during 2017. The number of companies registered with SECP during February 2017 has exhibited a remarkable growth of 71 percen
Published 04 Mar, 2017 12:00am
Doaba Canal inaugurated in Charsada

Doaba Canal inaugurated in Charsada

Qaumi Watan Party (QWP) Chairman, Aftab Ahmad Khan Sherpao along with Khyber Pakhtunkhwa Senior Minister for Irrigation, Sikandar Khan Sherpao formally inaugurated the Doaba Canal on Friday to irrigate 33,977 acres of agriculture land, benefiting resident
Published 04 Mar, 2017 12:00am
Sial assumes charge as 13th SG of Saarc

Sial assumes charge as 13th SG of Saarc

Senior Pakistani diplomat Amjad Hussain B Sial has assumed the charge as the 13th Secretary General of South Asian Association for Regional Co-operation (SAARC) from March 01, 2017, Foreign Office said. The development came following India withdrew its "r
Published 04 Mar, 2017 12:00am
CM KP approves flyover to link Motorway with GT Road

CM KP approves flyover to link Motorway with GT Road

Chief Minister Khyber Pakhtunkhwa Pervez Khattak in principle approved Zakori Flyover-II connecting Motorway to G.T Road at Peshawar entrance, Warsak, Nasir Bagh and Pajaggi Flyover, Budhni Pull in Peshawar and Jawar Chowk Flyover and Katlang flyover in M
Published 04 Mar, 2017 12:00am
SBP, CBI to sign agreement: Wathra

SBP, CBI to sign agreement: Wathra

The State Bank of Pakistan (SBP) and the Central Bank of Iran (CBI) are going to sign an agreement that would allow the exporters to settle claims through their respective central banks. The State Bank's Governor Ashraf Mahmood Wathra disclosed this while
Published 04 Mar, 2017 12:00am
Allied Hospital to conduct kidney transplantations

Allied Hospital to conduct kidney transplantations

Punjab Human Organ Transplant Authority (PHOTA) has recognised and registered Allied Hospital for conducting the procedure of Kidney Transplantation after complete medical and technical evaluation. The kidney transplantation operations would be started ve
Published 04 Mar, 2017 12:00am
Power sector's outstanding amount jumps to Rs 414 billion

Power sector's outstanding amount jumps to Rs 414 billion

On February 15, 2017, the total overdue amounts to the Power sector, including GENCOs stood at Rs 414 billion, said the sources. They said approximately Rs 160 billion out of this relates to overdue payments from CPPA-G owed to GENCOs and NTDC while the b
Published 04 Mar, 2017 12:00am
Tevta Punjab stands second in fifth IHKOG

Tevta Punjab stands second in fifth IHKOG

Technical Education and Vocational Training Authority (Tevta) Punjab stood second at fifth International House Keeping Olympic Games (IHKOG) held at Antalya-Turkey. A group of five TEVTA teachers won the said position in a competition amongst 17 countries
Published 04 Mar, 2017 12:00am
Miftah proposes SEZ to promote forestry investment

Miftah proposes SEZ to promote forestry investment

Board of Investment (BOI) Chairman and Special Assistant to the Prime Minister Dr Miftah Ismail has proposed setting up of a Special Economic Zone (SEZ) to promote forestry investment which will lead to creating new job opportunities in the region.
Published 04 Mar, 2017 12:00am
ACCA, SECP sign MoU for 'investors' education

ACCA, SECP sign MoU for 'investors' education

ACCA (the Association of Chartered Certified Accountants) recently signed a Memo of Understanding (MoU) with Securities and Exchange Commission Pakistan (SECP) as both ACCA and SECP share a common vision of advancing public interest and are committed towa
Published 04 Mar, 2017 12:00am
Taiwan exports to jump

Taiwan exports to jump

Taiwan's February exports likely rose at its strongest pace in four years on solid tech demand, but the expected surge may be largely due to a holiday distortion, a Reuters poll showed. Exports were forecast to have expanded 16.8 percent from a year earli
Published 04 Mar, 2017 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan stocks fell on Friday, tracking broader Asia, as investors booked profits ahead of the weekend. The main TAIEX index fell 0.3 percent to 9,658.61 points as of 0127 GMT, after closing up 0.2 percent in the previous session. The electronics subindex
Published 04 Mar, 2017 12:00am
European shares enjoy best weekly gains of 2017, French banks up

European shares enjoy best weekly gains of 2017, French banks up

European shares posted their best weekly gains of 2017 of Friday, although they were down on the day following disappointing company updates. French stocks performed better after a poll eased anxieties over the impact on markets of the presidential electi
Published 04 Mar, 2017 12:00am
China stocks fall

China stocks fall

China stocks fell on Friday and saw a streak of weekly gains end at three as investors awaited an annual parliament meeting that's likely to send more signals of painful reform than market-friendly stimulus. The blue-chip CSI300 index fell 0.2 percent, to
Published 04 Mar, 2017 12:00am
Australian, New Zealand shares decline

Australian, New Zealand shares decline

Australian shares ended lower on Friday, shadowing Wall Street which took a breather from a strong run, with materials and financials leading the broad-based selloff. The S&P/ASX 200 index ended 0.8 percent, or 46.588 points, down at 5,730.00, posting its
Published 04 Mar, 2017 12:00am
Indian shares little changed

Indian shares little changed

Indian shares ended little changed on Friday, but posted their first weekly fall in six, as investors booked profits after a rally that lifted the benchmark indexes to near two-year highs in the previous session. The broader NSE index closed down 0.02 per
Published 04 Mar, 2017 12:00am
Two-year Treasury yields hit highest since 2009

Two-year Treasury yields hit highest since 2009

US two-year Treasury yields hit their highest in more than 7-1/2 years on Thursday, while other US yields hit multi-week or multi-month highs on increasing expectations that the Federal Reserve will raise interest rates at its March meeting.
Published 04 Mar, 2017 12:00am
Two-year Treasury yields hit highest since 2009

Two-year Treasury yields hit highest since 2009

US two-year Treasury yields hit their highest in more than 7-1/2 years on Thursday, while other US yields hit multi-week or multi-month highs on increasing expectations that the Federal Reserve will raise interest rates at its March meeting.
Published 04 Mar, 2017 12:00am
Hong Kong stocks tumble

Hong Kong stocks tumble

Hong Kong's benchmark share index closed at a one-month low on Friday, pulled down by profit-taking pressure as investors fretted that anticipated higher US interest rates will raise borrowing costs. Investors also kept in view China's annual parliament m
Published 04 Mar, 2017 12:00am
Wall Street retreats; Caterpillar, financials fall

Wall Street retreats; Caterpillar, financials fall

US stocks retreated on Thursday, led by financial stocks, while Caterpillar shares dropped following news that federal officials searched its Illinois facilities. Caterpillar, down 4.3 percent at $94.36, was the biggest drag on the Dow and among the bigge
Published 04 Mar, 2017 12:00am
Friday's early trade: stocks slip ahead of Yellen's speech

Friday's early trade: stocks slip ahead of Yellen's speech

The S&P 500 and the Dow were set for their first back-to-back losses since late-January on Friday, as investors preferred to wait and watch Federal Reserve Chair Janet Yellen's speech for a steer on the chances of an interest rate hike this month.
Published 04 Mar, 2017 12:00am
Tokyo stocks fall, Nintendo up on new console

Tokyo stocks fall, Nintendo up on new console

Tokyo shares finished lower on Friday after three days of gains, but Nintendo jumped as the videogame giant launched its newest console. A rally in the dollar against the yen Thursday boosted exporters and led to an initial advance but Tokyo's main indexe
Published 04 Mar, 2017 12:00am
Sri Lankan shares at over three-week low

Sri Lankan shares at over three-week low

Sri Lankan shares on Friday hit their lowest close in more than three weeks, as investors sold telecom shares and on concerns over rising interest rates. The Colombo stock index ended down 0.42 percent at 6,101.51, its lowest close since February 9. The b
Published 04 Mar, 2017 12:00am
Qatar population booms on back of 2022 World Cup

Qatar population booms on back of 2022 World Cup

Qatar's population has swollen by almost 40 per cent since the emirate was chosen to the host the 2022 World Cup, official government figures have revealed. The country's population stands at a record 2.67 million, figures just published from the Ministry
Published 04 Mar, 2017 12:00am
Malaysia holds key rate, says economy recovering
Currency

Malaysia holds key rate, says economy recovering

Malaysia's central bank kept its key rate unchanged on Thursday as expected, and expressed optimism that the better growth momentum seen in late 2016 can be sustained through this year. Most economists predicted the key rate will remain at 3.0 percent the
Published 04 Mar, 2017 12:00am
Toronto home prices jump 24 percent

Toronto home prices jump 24 percent

Toronto home prices surged 23.8 percent in February from a year earlier due in part to fewer listings, according to a report that is likely to add to concerns that a bubble is developing in the Canadian city's housing market. The Toronto Real Estate Board
Published 04 Mar, 2017 12:00am
Basel regulators say determined to finalise bank rules

Basel regulators say determined to finalise bank rules

Global banking regulators said they had narrowed their differences over a suite of new capital rules for banks and remain determined to finish the work, but did not give a date when it would be completed. The Basel Committee of banking supervisors from th
Published 04 Mar, 2017 12:00am
Italy's ENI narrows losses in 2016

Italy's ENI narrows losses in 2016

Italian energy giant ENI said Wednesday that it narrowed its losses in 2016, but its bottom-line was still hit by the slump in crude oil prices and the year-end net loss came in wider than expected. ENI said in a statement it booked a net loss of 1.46 bil
Published 04 Mar, 2017 12:00am
Italy's ENI narrows losses in 2016

Italy's ENI narrows losses in 2016

Italian energy giant ENI said Wednesday that it narrowed its losses in 2016, but its bottom-line was still hit by the slump in crude oil prices and the year-end net loss came in wider than expected. ENI said in a statement it booked a net loss of 1.46 bil
Published 04 Mar, 2017 12:00am
CBOT corn futures up on speculative buying

CBOT corn futures up on speculative buying

Corn futures on the Chicago Board of Trade ended higher on Wednesday for a second straight session on speculative buying at the start of a new month and prospects for increased use of corn for ethanol, traders said. CBOT May corn settled up 8-1/4 cents at
Published 04 Mar, 2017 12:00am
Cotton prices touch season's high
Cotton

Cotton prices touch season's high

Prices touched seasonal high level on renewed buying by mills and spinners, dealers said on the cotton market on Friday. The official spot rate was unchanged at Rs 6700, they said. In Punjab, Phutti prices were unchanged at Rs 3500-3750, as per 40 kg, the
Published 04 Mar, 2017 12:00am
Ukraine's February grain exports fall

Ukraine's February grain exports fall

Ukraine's grain exports dropped to 2.864 million tonnes in February from 2.92 million tonnes in January, the agriculture ministry said on Wednesday. The data provided by the ministry shows that the volume included 1.8 million tonnes of maize and 842,000 t
Published 04 Mar, 2017 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 111,108 tonnes of cargo comprising 98,138 tonnes of import cargo and 12,970 tonnes of export cargo including 3,227 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargo of 98,1
Published 04 Mar, 2017 12:00am
LSE logs solid earnings

LSE logs solid earnings

The London Stock Exchange logged solid results and ramped up its shareholder dividend Friday amid worries over the likely collapse of its merger with Deutsche Boerse. The results were published just days after it emerged that LSE's blockbuster tie-up with
Published 04 Mar, 2017 12:00am