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Oct 17, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-03-19
S&P upgrades Russia outlook to positive

S&P upgrades Russia outlook to positive

The Standard and Poor's agency raised its outlook for Russia's credit rating to "positive" from "stable" on Friday, citing improving growth prospects and a lower risk of large capital outflows. The agency said that after two years of recession, Russia was
Published 19 Mar, 2017 12:00am
S&P upgrades Russia outlook to positive

S&P upgrades Russia outlook to positive

The Standard and Poor's agency raised its outlook for Russia's credit rating to "positive" from "stable" on Friday, citing improving growth prospects and a lower risk of large capital outflows. The agency said that after two years of recession, Russia was
Published 19 Mar, 2017 12:00am
Hundreds quit last rebel-held district of Syria's Homs

Hundreds quit last rebel-held district of Syria's Homs

Nearly 1,500 people, mostly civilians, left the last opposition-held district of Homs on Saturday under a controversial Russian-supervised deal to bring Syria's third city under full government control. The evacuation of Waer, a north-western district of
Published 19 Mar, 2017 12:00am
Hundreds quit last rebel-held district of Syria's Homs

Hundreds quit last rebel-held district of Syria's Homs

Nearly 1,500 people, mostly civilians, left the last opposition-held district of Homs on Saturday under a controversial Russian-supervised deal to bring Syria's third city under full government control. The evacuation of Waer, a north-western district of
Published 19 Mar, 2017 12:00am
Athlete Nadia, son die in road crash

Athlete Nadia, son die in road crash

National athlete Nadia Nazir and her five-year-old son on Saturday died in a road mishap near Bahawalnagar. Pakistan Sports Board, Athletes Federation and Pakistan Olympics Association have expressed deep grief on the incident and prayed for the peace of
Published 19 Mar, 2017 12:00am
Athlete Nadia, son die in road crash

Athlete Nadia, son die in road crash

National athlete Nadia Nazir and her five-year-old son on Saturday died in a road mishap near Bahawalnagar. Pakistan Sports Board, Athletes Federation and Pakistan Olympics Association have expressed deep grief on the incident and prayed for the peace of
Published 19 Mar, 2017 12:00am
SBP''s Saeed next NBP President?

SBP''s Saeed next NBP President?

The government is likely to appoint Deputy Governor State Bank of Pakistan (SBP) Saeed Ahmed as next President of National Bank of Pakistan (NBP). An official said short that listed names were forwarded to Prime Minister Nawaz Sharif for his approval and
Published 19 Mar, 2017 12:00am
SBP's Saeed next NBP President?

SBP's Saeed next NBP President?

The government is likely to appoint Deputy Governor State Bank of Pakistan (SBP) Saeed Ahmed as next President of National Bank of Pakistan (NBP). An official said short that listed names were forwarded to Prime Minister Nawaz Sharif for his approval and
Published 19 Mar, 2017 12:00am
SBP's Saeed next NBP President?

SBP's Saeed next NBP President?

The government is likely to appoint Deputy Governor State Bank of Pakistan (SBP) Saeed Ahmed as next President of National Bank of Pakistan (NBP). An official said short that listed names were forwarded to Prime Minister Nawaz Sharif for his approval and
Published 19 Mar, 2017 12:00am
BJP picks Yogi to head UP

BJP picks Yogi to head UP

Prime Minister Narendra Modi's right-wing party Saturday picked a controversial firebrand leader to head India's most populous state, where it won a landslide victory last week. Modi's Hindu nationalist Bharatiya Janata Party won an absolute majority in t
Published 19 Mar, 2017 12:00am
BJP picks Yogi to head UP

BJP picks Yogi to head UP

Prime Minister Narendra Modi's right-wing party Saturday picked a controversial firebrand leader to head India's most populous state, where it won a landslide victory last week. Modi's Hindu nationalist Bharatiya Janata Party won an absolute majority in t
Published 19 Mar, 2017 12:00am
Erdogan sees Turkey parliament restoring capital punishment

Erdogan sees Turkey parliament restoring capital punishment

Turkish President Recep Tayyip Erdogan said Saturday he expected parliament to approve restoring capital punishment after next month's referendum in a move that could end Ankara's bid to join the EU. His remarks came as Ankara was locked in a bitter stand
Published 19 Mar, 2017 12:00am
Erdogan sees Turkey parliament restoring capital punishment

Erdogan sees Turkey parliament restoring capital punishment

Turkish President Recep Tayyip Erdogan said Saturday he expected parliament to approve restoring capital punishment after next month's referendum in a move that could end Ankara's bid to join the EU. His remarks came as Ankara was locked in a bitter stand
Published 19 Mar, 2017 12:00am
Eleven candidates confirmed in French presidential race

Eleven candidates confirmed in French presidential race

Eleven candidates have been approved to run for French president, the country's Constitutional Council announced Saturday, a month before the vote. The eleven received the 500-plus signatures from mayors needed to compete in the first round of the electio
Published 19 Mar, 2017 12:00am
Eleven candidates confirmed in French presidential race

Eleven candidates confirmed in French presidential race

Eleven candidates have been approved to run for French president, the country's Constitutional Council announced Saturday, a month before the vote. The eleven received the 500-plus signatures from mayors needed to compete in the first round of the electio
Published 19 Mar, 2017 12:00am
Germany owes Nato 'vast sums': Trump

Germany owes Nato 'vast sums': Trump

US President Donald Trump unleashed a diatribe against Germany on Saturday, saying Berlin owes Nato "vast sums of money" and must pay the United States more for security. His latest tweetstorm comes a day after he met German Chancellor Angela Merkel in Wa
Published 19 Mar, 2017 12:00am
Germany owes Nato 'vast sums': Trump

Germany owes Nato 'vast sums': Trump

US President Donald Trump unleashed a diatribe against Germany on Saturday, saying Berlin owes Nato "vast sums of money" and must pay the United States more for security. His latest tweetstorm comes a day after he met German Chancellor Angela Merkel in Wa
Published 19 Mar, 2017 12:00am
US issues trade challenge at fraught G20

US issues trade challenge at fraught G20

The United States on Saturday challenged long-standing global principles surrounding free trade, refusing to renew past anti-protectionist pledges and threatening to reopen negotiations on World Trade Organisation deals. In an early taste of what Donald T
Published 19 Mar, 2017 12:00am
US issues trade challenge at fraught G20

US issues trade challenge at fraught G20

The United States on Saturday challenged long-standing global principles surrounding free trade, refusing to renew past anti-protectionist pledges and threatening to reopen negotiations on World Trade Organisation deals. In an early taste of what Donald T
Published 19 Mar, 2017 12:00am
US issues trade challenge at fraught G20

US issues trade challenge at fraught G20

The United States on Saturday challenged long-standing global principles surrounding free trade, refusing to renew past anti-protectionist pledges and threatening to reopen negotiations on World Trade Organisation deals. In an early taste of what Donald T
Published 19 Mar, 2017 12:00am
G20 ministers fail to get US on board for trade

G20 ministers fail to get US on board for trade

Finance ministers from the world''s biggest economies on Saturday failed to get the US to renew an anti-protectionist pledge and a vow to fight climate change, in the face of Donald Trump''s "America First" push. After a two-day meeting, ministers from G2
Published 19 Mar, 2017 12:00am
G20 ministers fail to get US on board for trade

G20 ministers fail to get US on board for trade

Finance ministers from the world's biggest economies on Saturday failed to get the US to renew an anti-protectionist pledge and a vow to fight climate change, in the face of Donald Trump's "America First" push. After a two-day meeting, ministers from G20
Published 19 Mar, 2017 12:00am
G20 ministers fail to get US on board for trade

G20 ministers fail to get US on board for trade

Finance ministers from the world's biggest economies on Saturday failed to get the US to renew an anti-protectionist pledge and a vow to fight climate change, in the face of Donald Trump's "America First" push. After a two-day meeting, ministers from G20
Published 19 Mar, 2017 12:00am
US, China to cooperate on 'dangerous' North Korea situation

US, China to cooperate on 'dangerous' North Korea situation

The US and China pledged on Saturday to work together in addressing the threat posed by North Korea's nuclear programme, as US Secretary of State Rex Tillerson warned regional tensions had reached a "dangerous level." The language from Tillerson and his C
Published 19 Mar, 2017 12:00am
US, China to cooperate on 'dangerous' North Korea situation

US, China to cooperate on 'dangerous' North Korea situation

The US and China pledged on Saturday to work together in addressing the threat posed by North Korea's nuclear programme, as US Secretary of State Rex Tillerson warned regional tensions had reached a "dangerous level." The language from Tillerson and his C
Published 19 Mar, 2017 12:00am
Rs 300 billion stuck in appeals: FBR to revise ADR system in budget

Rs 300 billion stuck in appeals: FBR to revise ADR system in budget

The Federal Board of Revenue (FBR) has decided to revise the whole system of Alternative Dispute Resolution (ADR) committees in budget (2017-18) under the plan to reduce litigation of Rs 300 billion stuck up in appeals. Sources told Business Recorder here
Published 19 Mar, 2017 12:00am
Rs 300 billion stuck in appeals: FBR to revise ADR system in budget

Rs 300 billion stuck in appeals: FBR to revise ADR system in budget

The Federal Board of Revenue (FBR) has decided to revise the whole system of Alternative Dispute Resolution (ADR) committees in budget (2017-18) under the plan to reduce litigation of Rs 300 billion stuck up in appeals. Sources told Business Recorder here
Published 19 Mar, 2017 12:00am
Rs 300 billion stuck in appeals: FBR to revise ADR system in budget

Rs 300 billion stuck in appeals: FBR to revise ADR system in budget

The Federal Board of Revenue (FBR) has decided to revise the whole system of Alternative Dispute Resolution (ADR) committees in budget (2017-18) under the plan to reduce litigation of Rs 300 billion stuck up in appeals. Sources told Business Recorder here
Published 19 Mar, 2017 12:00am
Missing Indian clerics surface in Karachi

Missing Indian clerics surface in Karachi

Two Indian Sufi clerics, who had gone missing in Pakistan for the past three days, surfaced in Karachi on Saturday. The clerics identified as Asif Nizami and his friend Nazim Nizami, belong to Delhi's Hazrat Nizamuddin Dargah. The duo had travelled to Pak
Published 19 Mar, 2017 12:00am
Missing Indian clerics surface in Karachi

Missing Indian clerics surface in Karachi

Two Indian Sufi clerics, who had gone missing in Pakistan for the past three days, surfaced in Karachi on Saturday. The clerics identified as Asif Nizami and his friend Nazim Nizami, belong to Delhi's Hazrat Nizamuddin Dargah. The duo had travelled to Pak
Published 19 Mar, 2017 12:00am
Petition challenges sell-off of three airports: IHC issues notices

Petition challenges sell-off of three airports: IHC issues notices

The Islamabad High Court (IHC) on Saturday issued notices to secretary aviation division, DG Civil Aviation Authority (CAA), advisor to prime minister on aviation and chairman Privatisation Commission in connection with a petition challenging privatisatio
Published 19 Mar, 2017 12:00am
Petition challenges sell-off of three airports: IHC issues notices

Petition challenges sell-off of three airports: IHC issues notices

The Islamabad High Court (IHC) on Saturday issued notices to secretary aviation division, DG Civil Aviation Authority (CAA), advisor to prime minister on aviation and chairman Privatisation Commission in connection with a petition challenging privatisatio
Published 19 Mar, 2017 12:00am
Petition challenges sell-off of three airports: IHC issues notices

Petition challenges sell-off of three airports: IHC issues notices

The Islamabad High Court (IHC) on Saturday issued notices to secretary aviation division, DG Civil Aviation Authority (CAA), advisor to prime minister on aviation and chairman Privatisation Commission in connection with a petition challenging privatisatio
Published 19 Mar, 2017 12:00am
Radd-ul-Fasaad: 46 suspects apprehended, over 30 terrorists killed: ISPR

Radd-ul-Fasaad: 46 suspects apprehended, over 30 terrorists killed: ISPR

The launch of Radd-ul-Fasaad on February 22, 2017 accounts for 46 suspects apprehended, including 11 Afghans, more than 30 terrorists killed, and the recovery of weapons and ammunition, in different raids, according to ISPR. Ten officers of Army, Frontier
Published 19 Mar, 2017 12:00am
Radd-ul-Fasaad: 46 suspects apprehended, over 30 terrorists killed: ISPR

Radd-ul-Fasaad: 46 suspects apprehended, over 30 terrorists killed: ISPR

The launch of Radd-ul-Fasaad on February 22, 2017 accounts for 46 suspects apprehended, including 11 Afghans, more than 30 terrorists killed, and the recovery of weapons and ammunition, in different raids, according to ISPR. Ten officers of Army, Frontier
Published 19 Mar, 2017 12:00am
MQM Pakistan celebrates first Foundation Day

MQM Pakistan celebrates first Foundation Day

MQM Pakistan celebrated its 33rd Foundation Day on Saturday with preparations in the Jinnah Ground of PIB Colony. The stage is set for arrival of supporters and workers alike as flags of Muttahida Quami Movement (MQM) Pakistan can be seen waving everywher
Published 19 Mar, 2017 12:00am
Indian delegation due today

Indian delegation due today

An Indian delegation will reach Pakistan via Wagha border (Lahore) on Sunday (today). Pakistan and India will discuss water related issues at a meeting, which will be held in Islamabad on Monday (tomorrow).
Published 19 Mar, 2017 12:00am
Indian delegation due today

Indian delegation due today

An Indian delegation will reach Pakistan via Wagha border (Lahore) on Sunday (today). Pakistan and India will discuss water related issues at a meeting, which will be held in Islamabad on Monday (tomorrow).
Published 19 Mar, 2017 12:00am
Zardari seeks new US policy on Pakistan

Zardari seeks new US policy on Pakistan

Former President Asif Ali Zardari has claimed that his Pakistan People's Party is the only entity in Pakistan that stands unambiguously in fight against terrorism and extremism - offering a comprehensive strategy that encompasses co-ordinated civilian lea
Published 19 Mar, 2017 12:00am
Zardari seeks new US policy on Pakistan

Zardari seeks new US policy on Pakistan

Former President Asif Ali Zardari has claimed that his Pakistan People's Party is the only entity in Pakistan that stands unambiguously in fight against terrorism and extremism - offering a comprehensive strategy that encompasses co-ordinated civilian lea
Published 19 Mar, 2017 12:00am
The Weather

The Weather

The weather report on Saturday (March 18, 2017) and the forecast for Sunday (March 19, 2017).

Published 19 Mar, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (March 18, 2017).

Published 19 Mar, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (March 18, 2017).

Published 19 Mar, 2017 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (March 18, 2017).

Published 19 Mar, 2017 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (March 18, 2017)

Published 19 Mar, 2017 12:00am
Hides and skins rates

Hides and skins rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (March 18, 2017).

Published 19 Mar, 2017 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (March 18, 2017).

Published 19 Mar, 2017 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (March 18, 2017).

Published 19 Mar, 2017 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (March 18, 2017).

Published 19 Mar, 2017 12:00am
THE RUPEE: steady trend
Currency

THE RUPEE: steady trend

No major changes were seen on the money market on Saturday as the rupee managed to hold overnight levels against the dollar in process of trading, dealers said. The rupee was unchanged in relation to the dollar for buying and selling at Rs 106.50 and Rs 1
Published 19 Mar, 2017 12:00am
THE RUPEE: steady trend
Currency

THE RUPEE: steady trend

No major changes were seen on the money market on Saturday as the rupee managed to hold overnight levels against the dollar in process of trading, dealers said. The rupee was unchanged in relation to the dollar for buying and selling at Rs 106.50 and Rs 1
Published 19 Mar, 2017 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (March 18, 2017).

Published 19 Mar, 2017 12:00am
European vegoils: palm oil rises on El Nino worries
Currency

European vegoils: palm oil rises on El Nino worries

Palm oil on the European vegetable oils market rose on Thursday on concerns that an El Nino weather pattern could return this year, which would cause dryness and cut palm fruit yields. A stronger ringgit also underpinned prices. Asking prices for palm oil
Published 19 Mar, 2017 12:00am
Freight rates for VLCC to remain under pressure on excess tonnage

Freight rates for VLCC to remain under pressure on excess tonnage

Freight rates for very large crude carriers (VLCCs) are likely to remain under pressure with hire rates from the Middle East to Asia tracking lower in the face of excess tonnage in the market, brokers said. Cuts in the output from Iraq and West Africa thi
Published 19 Mar, 2017 12:00am
Vietnam's coffee discounts tighten on low supply

Vietnam's coffee discounts tighten on low supply

Discounts for Vietnamese coffee tightened this week on lower stockpile while the market is expected to be more robust in Indonesia as supplies rise when an upcoming harvest season starts, traders said on Thursday. Prices in Daklak, Vietnam's largest coffe
Published 19 Mar, 2017 12:00am
German wheat and rapeseed harvests seen up

German wheat and rapeseed harvests seen up

Germany's 2017 wheat crop is expected to increase 2.2 percent on the year to 25.13 million tonnes, the country's association of farm cooperatives said on Wednesday. The association forecast Germany's 2017 winter rapeseed crop at 4.86 million tonnes, up 5.
Published 19 Mar, 2017 12:00am
Asian naphtha margins ease but North Asian demand firm

Asian naphtha margins ease but North Asian demand firm

The Asian naphtha margins eased on Thursday but demand from North Asian buyers remained firm, traders said. South Korea's LG Chem entered the market seeking 22,500 to 27,500 tonnes of open-specification naphtha for delivery into Daesan or Yeosu over first
Published 19 Mar, 2017 12:00am
Brazil's new terminal to boost shipping capacity for soyabean, sugar

Brazil's new terminal to boost shipping capacity for soyabean, sugar

A new terminal near completion in Latin America's largest port in Santos, Brazil, is expected to add an extra 20 percent to its grains and sugar capacity, boosting shipping services just as the country produces bumper crops. The 2.2 billion reais ($694 mi
Published 19 Mar, 2017 12:00am
Favourable weather boosts hopes for Russia, Ukraine grain crops

Favourable weather boosts hopes for Russia, Ukraine grain crops

Favourable weather ahead of spring sowing in Black Sea grain producers Russia and Ukraine is boosting hopes of a large harvest, analysts, officials and traders said, although it will likely fall short of last year's record. Spring grain sowing in Russia,
Published 19 Mar, 2017 12:00am
Gold premiums rise in China on limited supply
Currency

Gold premiums rise in China on limited supply

Gold premiums rose in China this week as traders said supply of the precious metal was limited due to tightening import restrictions to stem currency outflows. Premiums climbed to over $20 an ounce against the international benchmark from $15-$17 last wee
Published 19 Mar, 2017 12:00am
Weak El Nino to have small impact on Asian crops this year

Weak El Nino to have small impact on Asian crops this year

A weak El Nino weather pattern forecast to develop across Asia this year will have only slight impact on production of crops such as wheat, palm oil, rice and oilseeds, a meteorologist said on Tuesday. "The forecast is for a weak El Nino, which means slig
Published 19 Mar, 2017 12:00am
CBOT wheat futures flat

CBOT wheat futures flat

Front-month wheat futures on the Chicago Board of Trade settled flat on Thursday, trailing advances in Kansas City hard red winter and MGEX hard red spring wheat futures tied to improving export demand, traders said. CBOT May wheat ended unchanged at $4.3
Published 19 Mar, 2017 12:00am
CBOT soyabeans futures higher

CBOT soyabeans futures higher

Chicago Board of Trade soyabean futures closed higher Thursday in a light technical rebound following an eight-session sell-off, traders said. The CBOT May soyabean contract settled up 3-1/2 cents at $10.01-1/2 per bushel, after dipping to $9.92, a four-m
Published 19 Mar, 2017 12:00am
Argentine soya, corn benefiting from good weather

Argentine soya, corn benefiting from good weather

Argentine corn and soya should benefit this season from high yields brought by good weather, the Buenos Aires Grains Exchange said on Thursday, adding that it may increase its harvest estimate above the current 54.8 million tonnes. The South American grai
Published 19 Mar, 2017 12:00am
Chinese iron ore extends gains as steel holds near 3-year high

Chinese iron ore extends gains as steel holds near 3-year high

Shanghai rebar steel futures cut early losses to end near a three-year high on Thursday, helping raw material iron ore extend gains to a fifth session in a row. Hopes of stronger infrastructure spending and property sales in China helped steel prices surg
Published 19 Mar, 2017 12:00am
EU wheat futures mostly lower on stronger euro
Currency

EU wheat futures mostly lower on stronger euro

European wheat futures were mostly lower on Thursday as a stronger euro increased concerns about the growing competitiveness of the United States in major export markets. May milling wheat on Paris-based Euronext ended unchanged at 172.50 euros a tonne bu
Published 19 Mar, 2017 12:00am
Rice prices advance in India, Vietnam while fall in Thailand

Rice prices advance in India, Vietnam while fall in Thailand

Rice prices in India and Vietnam advanced while Thai prices dropped due to a weaker baht, traders said on Thursday. India's 5 percent broken parboiled rice prices fell by $3 per tonne to $372 to $377 per tonne on weak demand, even as rupee appreciation wa
Published 19 Mar, 2017 12:00am
Cotton prices firm on improved trade activity
Cotton

Cotton prices firm on improved trade activity

Firmness prevailed on the cotton market on Saturday as needy mills did purchasing of quality lint to replenish their stock, dealers said. The official spot rate was unchanged at RS 6750, they said. In Punjab prices of phutti were unchanged at Rs 3750-3800
Published 19 Mar, 2017 12:00am
McDonald's shareholders to weigh giving franchisees board seat

McDonald's shareholders to weigh giving franchisees board seat

McDonald's Corp investors will vote soon on whether to give the franchisees who operate most of the fast-food chain's restaurants the opportunity to elect a board member, the proponent of a shareholder proposal said on Friday. The proposal, which faces lo
Published 19 Mar, 2017 12:00am
Last RBS investor group held settlement talks over 2008 cash call

Last RBS investor group held settlement talks over 2008 cash call

Lawyers representing tens of thousands of Royal Bank of Scotland (RBS) shareholders have held tentative talks to settle a 1.2 billion pound ($1.5 billion) damages claim over the lender's 2008 rights issue that was launched shortly before a state bailout,
Published 19 Mar, 2017 12:00am
Australian deputy PM flags lifting gas drilling bans

Australian deputy PM flags lifting gas drilling bans

Australia's deputy prime minister said he would support lifting bans on coal seam gas (CSG) drilling if landowners were given a bigger slice of royalties, a significant policy shift as the country scrambles to avoid a looming energy crisis. Australia, wit
Published 19 Mar, 2017 12:00am
Global growth strengthens but 'wrong' policies may halt it: Lagarde

Global growth strengthens but 'wrong' policies may halt it: Lagarde

International Monetary Fund Managing Director Christine Lagarde said on Saturday that global growth was gaining strength, but cautioned that the "wrong" policies "could stop the new momentum in its tracks." In a statement issued at the end of a Group of 2
Published 19 Mar, 2017 12:00am
Global growth strengthens but 'wrong' policies may halt it: Lagarde

Global growth strengthens but 'wrong' policies may halt it: Lagarde

International Monetary Fund Managing Director Christine Lagarde said on Saturday that global growth was gaining strength, but cautioned that the "wrong" policies "could stop the new momentum in its tracks." In a statement issued at the end of a Group of 2
Published 19 Mar, 2017 12:00am
Juncker warns against EU-US trade war

Juncker warns against EU-US trade war

European Commission President Jean-Claude Juncker warned in a newspaper interview that a trade war between the United States and Europe would not be good for either. Asked by Bild am Sonntag newspaper whether Europe could withstand a trade war with the Un
Published 19 Mar, 2017 12:00am
Beijing, Saudi Arabia agree to more oil cooperation, exports to China

Beijing, Saudi Arabia agree to more oil cooperation, exports to China

China and Saudi Arabia will increase their cooperation in the oil sector, including in Saudi oil exports to China, the two countries said in a joint communique issued on Saturday at the end of Saudi Arabian King Salman's visit to Beijing. The world's larg
Published 19 Mar, 2017 12:00am
US consumer agency unconstitutional: Justice Department

US consumer agency unconstitutional: Justice Department

The US Justice Department on Friday took the unusual step of siding against another government agency in a high-stakes court case, another signal of the Trump administration's move away from regulation. The court case hinges on whether President Donald Tr
Published 19 Mar, 2017 12:00am
Moody's cuts Turkey's outlook to 'negative' as politics weigh

Moody's cuts Turkey's outlook to 'negative' as politics weigh

Ratings agency Moody's on Friday cut its outlook for Turkey to "negative" from "stable", citing continuing erosion of its institutional strength - the latest hit for an emerging market struggling to win back investor favour. Once seen as one of the world'
Published 19 Mar, 2017 12:00am
Moody's cuts Turkey's outlook to 'negative' as politics weigh

Moody's cuts Turkey's outlook to 'negative' as politics weigh

Ratings agency Moody's on Friday cut its outlook for Turkey to "negative" from "stable", citing continuing erosion of its institutional strength - the latest hit for an emerging market struggling to win back investor favour. Once seen as one of the world'
Published 19 Mar, 2017 12:00am
China home price gains spread in February

China home price gains spread in February

China's red-hot property market picked up pace in February after price gains had slowed in the previous four months, with average new home prices in 70 major cities edging up in spite of a raft of new government curbs aimed at tempering speculative demand
Published 19 Mar, 2017 12:00am
Chairman of China's Anbang bullish on Europe's 'cheap assets'

Chairman of China's Anbang bullish on Europe's 'cheap assets'

The chairman of China's privately-held Anbang Insurance Group said at the China Development Forum on Saturday he is bullish on investing in Europe despite great uncertainty over issues including refugees, economic challenges and rising populism. Europe ha
Published 19 Mar, 2017 12:00am
Chairman of China's Anbang bullish on Europe's 'cheap assets'

Chairman of China's Anbang bullish on Europe's 'cheap assets'

The chairman of China's privately-held Anbang Insurance Group said at the China Development Forum on Saturday he is bullish on investing in Europe despite great uncertainty over issues including refugees, economic challenges and rising populism. Europe ha
Published 19 Mar, 2017 12:00am
Venezuela has a 'let them eat cake' moment

Venezuela has a 'let them eat cake' moment

After living through shortages of water, electricity, medicine, banknotes and beer, Venezuelans are now struggling to find one of the most basic foodstuffs of all, unleashing what President Nicolas Maduro has dubbed the "Bread War." Bread has become all b
Published 19 Mar, 2017 12:00am
EBRD to resume lending in Uzbekistan

EBRD to resume lending in Uzbekistan

The European Bank for Reconstruction and Development (EBRD) said Friday it was set to resume lending in ex-Soviet Uzbekistan Friday after a rights row wrecked their ties more than a decade ago. The EBRD said in a statement that it was looking at "increasi
Published 19 Mar, 2017 12:00am
Italy proposes Profumo as new Leonardo CEO, confirms Eni, Enel chiefs

Italy proposes Profumo as new Leonardo CEO, confirms Eni, Enel chiefs

The Italian Treasury on Saturday proposed that veteran banker Alessandro Profumo be named the new chief executive of defence and aerospace company Leonardo , in a round of new appointments at state-controlled firms. Profumo, who stepped down as chairman o
Published 19 Mar, 2017 12:00am
Buffett's pay rises; Berkshire urges rejection of shareholder proposals

Buffett's pay rises; Berkshire urges rejection of shareholder proposals

Warren Buffett's compensation for running Berkshire Hathaway Inc edged up 4.0 percent last year to $487,881 reflecting the higher cost of keeping the world's second-richest person safe Buffett's pay was disclosed in a Friday regulatory filing, in which Be
Published 19 Mar, 2017 12:00am
China's Ant confident of closing MoneyGram deal

China's Ant confident of closing MoneyGram deal

Ant Financial Services Group, the world's largest financial technology company, is confident of closing a deal for US money-transfer firm MoneyGram International Inc, a top executive told Reuters, despite a higher bid from a US rival. The proposed $880 mi
Published 19 Mar, 2017 12:00am
Siemens says failure to publish company history not a cover-up

Siemens says failure to publish company history not a cover-up

Germany industrial and engineering giant Siemens said a decision not to publish a manuscript about the company's recent history, including some findings about a corruption scandal, did not amount to a cover-up. German weekly Der Spiegel said Siemens had f
Published 19 Mar, 2017 12:00am
POSCO offers to surrender land for planned India steel project

POSCO offers to surrender land for planned India steel project

South Korean steelmaker POSCO has asked the eastern state of Odisha in India to take back land it acquired for a $12 billion steel project as it has not been able to start work, two senior state officials said on Saturday. The move could be a sign that th
Published 19 Mar, 2017 12:00am
IMF cuts Colombia 2017 economic growth estimate to 2.3 percent
Currency

IMF cuts Colombia 2017 economic growth estimate to 2.3 percent

The International Monetary Fund on Friday cut its 2017 forecast for Colombian economic growth to 2.3 percent from 2.6 percent, citing political uncertainty and financial market volatility. The IMF's projection is below the government's GDP target of 2.5 p
Published 19 Mar, 2017 12:00am
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