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May 15, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-04-29
US and Mexico hunt corrupt, drug-pushing officials

US and Mexico hunt corrupt, drug-pushing officials

Crooked cops, greedy governors and pusher-prosecutors: corruption and drug crime reach to high places in Mexico, which is getting a jolt from US efforts to hunt down top suspects. Analysts say officials have been getting away for decades with corruption i
Published 29 Apr, 2017 12:00am
Baker Hughes expects North America revenue to rise in Q2

Baker Hughes expects North America revenue to rise in Q2

Baker Hughes Inc said on Tuesday it expects revenue from North America to rise in the current quarter from the first as oil producers drill more onshore wells, helping the oilfield service provider make up for a fall in demand in the Gulf of Mexico. Oil p
Published 29 Apr, 2017 12:00am
Baker Hughes expects North America revenue to rise in Q2

Baker Hughes expects North America revenue to rise in Q2

Baker Hughes Inc said on Tuesday it expects revenue from North America to rise in the current quarter from the first as oil producers drill more onshore wells, helping the oilfield service provider make up for a fall in demand in the Gulf of Mexico. Oil p
Published 29 Apr, 2017 12:00am
China conducts maiden flight of JF-17B jet

China conducts maiden flight of JF-17B jet

China has conducted the maiden flight of its dual-seat JF-17B trainer and fighter jet, aiming to seize a bigger share of the global military aircraft market. The event took place at an airport of Chengdu Aircraft Industry Group, the maker of the plane and
Published 29 Apr, 2017 12:00am
EBRD cuts financing for Polish renewables as regulations tighten

EBRD cuts financing for Polish renewables as regulations tighten

The European Bank for Reconstruction and Development has cut its financing of wind farms in Poland because there are fewer projects as government policies have made them unprofitable, a top EBRD official said. Private investors spent around 34 billion zlo
Published 29 Apr, 2017 12:00am
China conducts maiden flight of JF-17B jet

China conducts maiden flight of JF-17B jet

China has conducted the maiden flight of its dual-seat JF-17B trainer and fighter jet, aiming to seize a bigger share of the global military aircraft market. The event took place at an airport of Chengdu Aircraft Industry Group, the maker of the plane and
Published 29 Apr, 2017 12:00am
LG Display books record quarterly profit on demand for large TV panels

LG Display books record quarterly profit on demand for large TV panels

South Korea's LG Display Co Ltd on Wednesday posted record quarterly profit of 1.03 trillion won ($915.08 million) in the January-March period, beating market expectations on demand for large television panels. The world's largest liquid crystal display (
Published 29 Apr, 2017 12:00am
LG Display books record quarterly profit on demand for large TV panels

LG Display books record quarterly profit on demand for large TV panels

South Korea's LG Display Co Ltd on Wednesday posted record quarterly profit of 1.03 trillion won ($915.08 million) in the January-March period, beating market expectations on demand for large television panels. The world's largest liquid crystal display (
Published 29 Apr, 2017 12:00am
Japan's Dai-ichi Life eyes Cambodia, US in push for overseas growth

Japan's Dai-ichi Life eyes Cambodia, US in push for overseas growth

Japan's Dai-ichi Life Holdings Inc plans to start a life insurance business in Cambodia in 2018 and expand its US presence, its president said, in line with the firm's strategy to boost overseas growth as investment returns diminish at home. Life insurers
Published 29 Apr, 2017 12:00am
Japan's Dai-ichi Life eyes Cambodia, US in push for overseas growth

Japan's Dai-ichi Life eyes Cambodia, US in push for overseas growth

Japan's Dai-ichi Life Holdings Inc plans to start a life insurance business in Cambodia in 2018 and expand its US presence, its president said, in line with the firm's strategy to boost overseas growth as investment returns diminish at home. Life insurers
Published 29 Apr, 2017 12:00am
Iraq's anti-corruption czar: the job so tough they won't let you quit

Iraq's anti-corruption czar: the job so tough they won't let you quit

Fighting corruption in Iraq is such a relentless and thankless job that Hassan al-Yasiri has been trying for nearly a year to quit. Yasiri, head of Iraq's independent anti-graft body the Commission of Integrity, submitted his resignation to Prime Minister
Published 29 Apr, 2017 12:00am
Syncrude outage limits ConocoPhillips oil sands production

Syncrude outage limits ConocoPhillips oil sands production

A shutdown at the Syncrude oil sands facility in northern Alberta has curbed output from ConocoPhillips' Surmont plant, the US company said on Tuesday, as the shortage helped push heavy Canadian crude prices to the narrowest discount in nearly two years.
Published 29 Apr, 2017 12:00am
LinkedIn membership reaches half a billion

LinkedIn membership reaches half a billion

The professional social network LinkedIn said Monday its membership had swelled to 500 million, as its user base showed steady growth following its acquisition last year by Microsoft. "We recently crossed an important and exciting milestone," LinkedIn vic
Published 29 Apr, 2017 12:00am
Austria investigates Airbus CEO over suspected fraud

Austria investigates Airbus CEO over suspected fraud

Airbus was plunged deeper into legal wrangling over past business dealings on Wednesday when Vienna prosecutors announced a fraud investigation into its chief executive in connection with a $2 billion fighter order over a decade ago. Airbus called the acc
Published 29 Apr, 2017 12:00am
New GlaxoSmithKline CEO wants fewer, bigger new drug launches

New GlaxoSmithKline CEO wants fewer, bigger new drug launches

GlaxoSmithKline's new chief executive aims to improve returns in drug development, and wants fewer but bigger new medicine launches. In her first comments since taking over on April 1, Emma Walmsley, 47, said on Wednesday that her priority was the pharmac
Published 29 Apr, 2017 12:00am
Mexico America Movil profit surges on forex gains

Mexico America Movil profit surges on forex gains

Mexican billionaire Carlos Slim's telecoms company America Movil posted a sevenfold increase in first-quarter net profit on Tuesday, beating analyst expectations as the peso appreciated against the dollar and euro. Quarterly net profit at Latin America's
Published 29 Apr, 2017 12:00am
Mexico America Movil profit surges on forex gains

Mexico America Movil profit surges on forex gains

Mexican billionaire Carlos Slim's telecoms company America Movil posted a sevenfold increase in first-quarter net profit on Tuesday, beating analyst expectations as the peso appreciated against the dollar and euro. Quarterly net profit at Latin America's
Published 29 Apr, 2017 12:00am
Syngenta sales slip as ChemChina take-over looms

Syngenta sales slip as ChemChina take-over looms

Swiss pesticide and seed giant Syngenta said Monday its sales slumped one percent in the first quarter, but said its planned takeover by ChemChina was on track for completion in May. During the first three months of the year, Syngenta rang up sales worth
Published 29 Apr, 2017 12:00am
Snapdeal looking to raise $100 million from SoftBank, other investors

Snapdeal looking to raise $100 million from SoftBank, other investors

Indian online retailer Snapdeal is looking to raise just over $100 million from existing shareholders including Japan's SoftBank and new investors, its chief financial officer said. The company, which last year lost its second place in India's fiercely co
Published 29 Apr, 2017 12:00am
London banks set to decide within weeks on Brexit moves

London banks set to decide within weeks on Brexit moves

As Britain prepares to negotiate its EU departure, a number of banks are likely to decide within two months where to set up new continental bases to make sure they can keep serving clients in the bloc after Brexit. The European Central Bank said it will h
Published 29 Apr, 2017 12:00am
United Tech profit rises 17.8 percent

United Tech profit rises 17.8 percent

United Technologies Corp, the maker of Otis elevators, Pratt & Whitney aircraft engines and Carrier air conditioners, beat analysts' expectations with a 17.8 percent rise in first-quarter profit, helped by higher sales in all four of its business units. T
Published 29 Apr, 2017 12:00am
United Tech profit rises 17.8 percent

United Tech profit rises 17.8 percent

United Technologies Corp, the maker of Otis elevators, Pratt & Whitney aircraft engines and Carrier air conditioners, beat analysts' expectations with a 17.8 percent rise in first-quarter profit, helped by higher sales in all four of its business units. T
Published 29 Apr, 2017 12:00am
PSMA refuses to export sugar without subsidy
Exchange

PSMA refuses to export sugar without subsidy

Pakistan Sugar Mills Association (PSMA) has reportedly refused to export sugar without subsidy and held Commerce Ministry responsible for the current chaos which used delaying tactics for export permission. This was the crux of PSMA's all zone's emergent
Published 29 Apr, 2017 12:00am
PepsiCo profit beats but lower margins weigh on shares

PepsiCo profit beats but lower margins weigh on shares

PepsiCo Inc's quarterly revenue and profit beat estimates on demand for its healthier drinks and snacks and higher pricing in North America, but a contraction in the company's gross margins weighed on shares. Shares of the company, which also warned that
Published 29 Apr, 2017 12:00am
Withdrawal of zero-rated status of cotton likely
Cotton

Withdrawal of zero-rated status of cotton likely

In order to generate additional revenue in remaining months of 2016-17, the federal government is considering withdrawal of zero-rated status of cotton, recently given in the Prime Minister'' incentives package for exporters, it is learnt. Sources said th
Published 29 Apr, 2017 12:00am
Withdrawal of zero-rated status of cotton likely
Cotton

Withdrawal of zero-rated status of cotton likely

In order to generate additional revenue in remaining months of 2016-17, the federal government is considering withdrawal of zero-rated status of cotton, recently given in the Prime Minister' incentives package for exporters, it is learnt. Sources said tha
Published 29 Apr, 2017 12:00am
Monte Paschi CEO says EU demands radical restructuring plan

Monte Paschi CEO says EU demands radical restructuring plan

Monte dei Paschi di Siena is still negotiating with the European Commission how many jobs to cut in a radical restructuring plan that is a condition for a state rescue of the Italian bank, Chief Executive Marco Morelli said on Wednesday. The world's oldes
Published 29 Apr, 2017 12:00am
Withdrawal of zero-rated status of cotton likely
Cotton

Withdrawal of zero-rated status of cotton likely

In order to generate additional revenue in remaining months of 2016-17, the federal government is considering withdrawal of zero-rated status of cotton, recently given in the Prime Minister' incentives package for exporters, it is learnt. Sources said tha
Published 29 Apr, 2017 12:00am
EU lawmakers to fast-track accounting rule capital relief

EU lawmakers to fast-track accounting rule capital relief

European Union lawmakers will fast-track rules giving banks breathing space to comply with a new accounting standard that forces them to provision upfront for possible defaults on loans. The new "IFRS 9" accounting rule applies from next January, and is l
Published 29 Apr, 2017 12:00am
PSMA refuses to export sugar without subsidy
Exchange

PSMA refuses to export sugar without subsidy

Pakistan Sugar Mills Association (PSMA) has reportedly refused to export sugar without subsidy and held Commerce Ministry responsible for the current chaos which used delaying tactics for export permission. This was the crux of PSMA''s all zone''s emergen
Published 29 Apr, 2017 12:00am
Brazil makes biggest rate cut since 2009 to fire up economy

Brazil makes biggest rate cut since 2009 to fire up economy

Brazil's central bank made its deepest cut to interest in nearly eight years on Wednesday and signalled it might continue its aggressive easing to revive an economy still reeling from its deepest recession ever. In a unanimous vote, the central bank's 9-m
Published 29 Apr, 2017 12:00am
PSMA refuses to export sugar without subsidy
Exchange

PSMA refuses to export sugar without subsidy

Pakistan Sugar Mills Association (PSMA) has reportedly refused to export sugar without subsidy and held Commerce Ministry responsible for the current chaos which used delaying tactics for export permission. This was the crux of PSMA's all zone's emergent
Published 29 Apr, 2017 12:00am
Hyundai Motor posts 21 percent drop in Q1 profit

Hyundai Motor posts 21 percent drop in Q1 profit

South Korea's biggest automaker Hyundai Motor posted a 21 percent drop in first-quarter profits on Wednesday, hammered by the fallout from a diplomatic spat between Seoul and Beijing over a US missile defence system. In a statement, Hyundai said it posted
Published 29 Apr, 2017 12:00am
Bank of Japan trims inflation view, stands pat on policy

Bank of Japan trims inflation view, stands pat on policy

Japan's central bank on Thursday trimmed its annual inflation forecast in an acknowledgement of the struggles it faces in jacking up consumer prices. The BoJ has already been forced to push back its two-percent inflation target to March 2019. That is four
Published 29 Apr, 2017 12:00am
Hyundai Motor posts 21 percent drop in Q1 profit

Hyundai Motor posts 21 percent drop in Q1 profit

South Korea's biggest automaker Hyundai Motor posted a 21 percent drop in first-quarter profits on Wednesday, hammered by the fallout from a diplomatic spat between Seoul and Beijing over a US missile defence system. In a statement, Hyundai said it posted
Published 29 Apr, 2017 12:00am
Imran identifies go-between as 'businessman in Dubai'

Imran identifies go-between as 'businessman in Dubai'

Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Friday said he would reveal the name of the businessman in Dubai through whom the Sharifs offered him a Rs 10 billion bribe for keeping mum about the Panama Leaks issue. Addressing the first public mee
Published 29 Apr, 2017 12:00am
Imran identifies go-between as 'businessman in Dubai'

Imran identifies go-between as 'businessman in Dubai'

Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Friday said he would reveal the name of the businessman in Dubai through whom the Sharifs offered him a Rs 10 billion bribe for keeping mum about the Panama Leaks issue. Addressing the first public mee
Published 29 Apr, 2017 12:00am
Novartis sets sights on return to growth in 2018

Novartis sets sights on return to growth in 2018

Novartis reported better-than-expected first-quarter profits on Tuesday with Chief Executive Joe Jimenez saying he remained confident the Swiss drugmaker would return to growth in 2018 as spending to promote new drugs pays off. First-quarter core net inco
Published 29 Apr, 2017 12:00am
Novartis sets sights on return to growth in 2018

Novartis sets sights on return to growth in 2018

Novartis reported better-than-expected first-quarter profits on Tuesday with Chief Executive Joe Jimenez saying he remained confident the Swiss drugmaker would return to growth in 2018 as spending to promote new drugs pays off. First-quarter core net inco
Published 29 Apr, 2017 12:00am
ECB says Brussels wants 'too tight' limit to its power over banks

ECB says Brussels wants 'too tight' limit to its power over banks

A European Commission proposal to limit the European Central Bank's power to supervise banks is "much too tight" and risks hampering ECB efforts to make the sector safer, Frankfurt's top supervisor said on Tuesday. Speaking at the European Parliament, Dan
Published 29 Apr, 2017 12:00am
Lufthansa positive despite net loss in first quarter

Lufthansa positive despite net loss in first quarter

German airline group Lufthansa on Thursday reported a much larger net loss in the first three months of the year, but sought to play up a return to positive operating results. The group reported a net loss of 68 million euros ($74 million) between January
Published 29 Apr, 2017 12:00am
RBS posts first quarterly profit since September 2015

RBS posts first quarterly profit since September 2015

Royal Bank of Scotland swung to a far better than expected first-quarter profit of 259 million pounds ($334.24 million), sending its shares up as much as 4 percent as the lender showed signs of progress in a decade-long turnaround. RBS's first quarterly p
Published 29 Apr, 2017 12:00am
RBS posts first quarterly profit since September 2015

RBS posts first quarterly profit since September 2015

Royal Bank of Scotland swung to a far better than expected first-quarter profit of 259 million pounds ($334.24 million), sending its shares up as much as 4 percent as the lender showed signs of progress in a decade-long turnaround. RBS's first quarterly p
Published 29 Apr, 2017 12:00am
Non-tariff barriers rising in Southeast Asia: Najib

Non-tariff barriers rising in Southeast Asia: Najib

Non-tariff measures in Southeast Asia have nearly quadrupled between 2000 and 2015, presenting a key challenge as the region moves toward further economic integration, Malaysian Prime Minister Najib Razak said Friday. Speaking at a business forum on the s
Published 29 Apr, 2017 12:00am
British economy slows sharply

British economy slows sharply

Britain's economy slowed sharply in the first three months of 2017 as households and high streets felt the pinch from higher inflation, which has risen sharply since last year's Brexit vote. With the country heading for an election on June 8, there were o
Published 29 Apr, 2017 12:00am
PayPal's profit, revenue beat on higher processing volumes

PayPal's profit, revenue beat on higher processing volumes

Payment processor PayPal Holdings Inc reported higher-than-expected quarterly profit and revenue on Wednesday, helped by an increase in payment processing volumes and customer additions. The company, which also raised its full-year profit forecast to $1.2
Published 29 Apr, 2017 12:00am
PayPal's profit, revenue beat on higher processing volumes

PayPal's profit, revenue beat on higher processing volumes

Payment processor PayPal Holdings Inc reported higher-than-expected quarterly profit and revenue on Wednesday, helped by an increase in payment processing volumes and customer additions. The company, which also raised its full-year profit forecast to $1.2
Published 29 Apr, 2017 12:00am
AT&T revenue misses estimates as customers keep phones longer

AT&T revenue misses estimates as customers keep phones longer

AT&T Inc's quarterly revenue missed estimates due to lower equipment sales as customers held onto phones longer and rival wireless carriers offered new promotions on unlimited data plans, the No 2 US wireless carrier said on Tuesday. It said it lost 191,0
Published 29 Apr, 2017 12:00am
AT&T revenue misses estimates as customers keep phones longer

AT&T revenue misses estimates as customers keep phones longer

AT&T Inc's quarterly revenue missed estimates due to lower equipment sales as customers held onto phones longer and rival wireless carriers offered new promotions on unlimited data plans, the No 2 US wireless carrier said on Tuesday. It said it lost 191,0
Published 29 Apr, 2017 12:00am
Australia inflation highest since 2014, but still underwhelms

Australia inflation highest since 2014, but still underwhelms

Australian consumer price inflation tiptoed atop 2 percent last quarter for the first time since 2014 as petrol, health care and education got more expensive, a hopeful sign that the danger of deflation had likely passed for this cycle. Yet, key measures
Published 29 Apr, 2017 12:00am
Lufthansa positive despite net loss in first quarter

Lufthansa positive despite net loss in first quarter

German airline group Lufthansa on Thursday reported a much larger net loss in the first three months of the year, but sought to play up a return to positive operating results. The group reported a net loss of 68 million euros ($74 million) between January
Published 29 Apr, 2017 12:00am
Boeing near decision to launch 737-10 jet

Boeing near decision to launch 737-10 jet

Boeing is nearing a decision to launch a larger version of its 737 workhorse jet within two months to counter strong sales of the Airbus A321neo, after a breakthrough on the design for one of its parts, industry sources said. The 737 MAX 10 would narrow t
Published 29 Apr, 2017 12:00am
Ghana to roll out free senior high school programme

Ghana to roll out free senior high school programme

Ghana is planning to make senior high school free for all teenagers, whatever their background, in a move experts say could transform the lives of millions of youngsters, particularly girls. President Nana Akufo-Addo has promised to introduce the measure
Published 29 Apr, 2017 12:00am
Fiat Chrysler profits beat expectations as SUV push pays off

Fiat Chrysler profits beat expectations as SUV push pays off

Fiat Chrysler Automobiles (FCA) reported an 11 percent rise in first-quarter operating profit on Wednesday, helped by a surprisingly strong performance in North America where a shift to sales of higher margin SUVs has started to pay off. The world's seven
Published 29 Apr, 2017 12:00am
Fiat Chrysler profits beat expectations as SUV push pays off

Fiat Chrysler profits beat expectations as SUV push pays off

Fiat Chrysler Automobiles (FCA) reported an 11 percent rise in first-quarter operating profit on Wednesday, helped by a surprisingly strong performance in North America where a shift to sales of higher margin SUVs has started to pay off. The world's seven
Published 29 Apr, 2017 12:00am
Kia Motors announces $1 billion investment in India

Kia Motors announces $1 billion investment in India

South Korean car maker Kia Motors said Thursday it will build a new 1.1 billion plant in India, marking its entry into one of the world's fastest growing markets as sales in neighbouring China have sagged. Kia Motors said in a statement it would manufactu
Published 29 Apr, 2017 12:00am
Put a price on the costs of disasters, says UN risk chief

Put a price on the costs of disasters, says UN risk chief

Calculating the costs of natural disasters is a valuable way for governments to recognize and limit the potential for damage, especially as extreme weather linked to climate change occurs more often, the United Nations' disaster prevention chief says.
Published 29 Apr, 2017 12:00am
Puerto Rico seen sliding toward bankruptcy as deadline nears

Puerto Rico seen sliding toward bankruptcy as deadline nears

Bankruptcy for Puerto Rico is looking ever more likely as the clock ticks down toward a May 1 deadline to restructure $70 billion in debt, ramping up uncertainty for anyone betting on returns from the island's widely held US municipal bonds. When US Congr
Published 29 Apr, 2017 12:00am
Twitter posts strong user growth

Twitter posts strong user growth

Shares of Twitter Inc jumped on Wednesday after the microblogging service reported better-than-expected user growth in the first quarter, although its revenue fell for the first time. The surprising acceleration, which Twitter attributed to new features a
Published 29 Apr, 2017 12:00am
Twitter posts strong user growth

Twitter posts strong user growth

Shares of Twitter Inc jumped on Wednesday after the microblogging service reported better-than-expected user growth in the first quarter, although its revenue fell for the first time. The surprising acceleration, which Twitter attributed to new features a
Published 29 Apr, 2017 12:00am
LG Electronics Q1 net profit more than quadruples

LG Electronics Q1 net profit more than quadruples

South Korean appliance giant LG Electronics saw net profits more than quadruple in the first quarter of the year, it said Thursday, on the back of strong sales in Asia and Latin America. The firm's net profit in the January-March period reached 835.7 bill
Published 29 Apr, 2017 12:00am
Lloyds bank says quarterly net profit soar

Lloyds bank says quarterly net profit soar

Britain's state-rescued Lloyds Banking Group said Thursday that first quarter net profit jumped 72 percent as exceptional costs from a year earlier were not repeated. Lloyds, which has been returned almost fully to the private sector after a state bailout
Published 29 Apr, 2017 12:00am
UK state borrowing nears 10-year low but misses target

UK state borrowing nears 10-year low but misses target

Britain's deficit improved last year to its lowest annual level in almost a decade, as tax receipts swelled despite looming Brexit, official data showed Tuesday. Net borrowing excluding bank bailouts stood at £52 billion ($66 billion, 61 billion euros) in
Published 29 Apr, 2017 12:00am
Rate cuts to give modest boost to LatAm economies before elections

Rate cuts to give modest boost to LatAm economies before elections

The Latin American region is set to return to economic growth this year, bolstered by central bank interest rate cuts in several nations before a wave of elections clouds the prospects for sustained expansion, a Reuters poll showed on Thursday.
Published 29 Apr, 2017 12:00am
Analysts up EU carbon price forecasts on market reform hopes

Analysts up EU carbon price forecasts on market reform hopes

Analysts have significantly increased their forecasts for European carbon prices in the bloc's Emission Trading System (ETS) for 2018 and 2019 to take into account the progress made in market reforms designed to curb oversupply. Analysts expect EU Allowan
Published 29 Apr, 2017 12:00am
Analysts up EU carbon price forecasts on market reform hopes

Analysts up EU carbon price forecasts on market reform hopes

Analysts have significantly increased their forecasts for European carbon prices in the bloc's Emission Trading System (ETS) for 2018 and 2019 to take into account the progress made in market reforms designed to curb oversupply. Analysts expect EU Allowan
Published 29 Apr, 2017 12:00am
Aero services lift Safran Q1 sales, talks with Zodiac continue

Aero services lift Safran Q1 sales, talks with Zodiac continue

French engine maker Safran reported higher-than-expected first-quarter revenue on Tuesday, buoyed by aerospace services, and told investors it was pushing ahead with plans to increase production of its LEAP civil jet engine. Safran confirmed its 2017 outl
Published 29 Apr, 2017 12:00am
Aero services lift Safran Q1 sales, talks with Zodiac continue

Aero services lift Safran Q1 sales, talks with Zodiac continue

French engine maker Safran reported higher-than-expected first-quarter revenue on Tuesday, buoyed by aerospace services, and told investors it was pushing ahead with plans to increase production of its LEAP civil jet engine. Safran confirmed its 2017 outl
Published 29 Apr, 2017 12:00am
Eurozone lending to grow but ECB weighs on profits: ECB survey

Eurozone lending to grow but ECB weighs on profits: ECB survey

Banks across the eurozone are set to expand lending further in the second quarter, even as the European Central Bank's ultra-easy monetary policy erodes profitability, an ECB survey showed on Tuesday. Banks may slightly tighten access to credit for compan
Published 29 Apr, 2017 12:00am
EU bankers say 'no' to more new bank rules ahead of Brexit

EU bankers say 'no' to more new bank rules ahead of Brexit

The European Union should hit the pause button on new bank rules ahead of Britain's departure from the bloc, senior bank executives said on Tuesday. The EU is fine-tuning a mass of rules introduced to make banks safer after the financial crisis that began
Published 29 Apr, 2017 12:00am
New US pipelines to drive natural gas boom as exports surge
Exchange

New US pipelines to drive natural gas boom as exports surge

US energy firms are scrambling to finish a slew of pipelines that will unleash rich reserves of shale gas in Pennsylvania, West Virginia and Ohio as the nation prepares to become one of the world's top natural gas exporters. The pipelines are expected to
Published 29 Apr, 2017 12:00am
Lloyds bank says quarterly net profit soar

Lloyds bank says quarterly net profit soar

Britain's state-rescued Lloyds Banking Group said Thursday that first quarter net profit jumped 72 percent as exceptional costs from a year earlier were not repeated. Lloyds, which has been returned almost fully to the private sector after a state bailout
Published 29 Apr, 2017 12:00am
LG Electronics Q1 net profit more than quadruples

LG Electronics Q1 net profit more than quadruples

South Korean appliance giant LG Electronics saw net profits more than quadruple in the first quarter of the year, it said Thursday, on the back of strong sales in Asia and Latin America. The firm's net profit in the January-March period reached 835.7 bill
Published 29 Apr, 2017 12:00am
Colombia forces struggle to root out coca

Colombia forces struggle to root out coca

Colombian forces sent to rip green coca plants from the earth to end a trade fuelling violence complain the crops are being replanted as fast as they can destroy them. Colombia is ranked by the United Nations as the world's biggest producer of coca - the
Published 29 Apr, 2017 12:00am
India's exports revival picks up speed in March

India's exports revival picks up speed in March

A recovery in Indian exports gathered steam in March with a pick-up in demand for engineering and petroleum products, bolstering an economy still recovering from the government's cash clampdown. However, a surge in gold and crude oil imports widened the m
Published 29 Apr, 2017 12:00am
China banks miss out on US investment banking bonanza
Exchange

China banks miss out on US investment banking bonanza

As scores of investment bankers profit from the fee bonanza offered by Chinese companies hunting for deals in the United States, one group is conspicuously absent - Chinese banks. Despite their deep ties with Chinese firms, the country's largest state-own
Published 29 Apr, 2017 12:00am
Intel's revenue misses estimates

Intel's revenue misses estimates

Intel Corp reported lower-than-expected quarterly revenue due to an unexpected slowdown in growth at its data center business, on which the world's largest chipmaker is banking to reduce its reliance on the personal computer market. The company's shares f
Published 29 Apr, 2017 12:00am
El Salvador bans metal mining in world first

El Salvador bans metal mining in world first

El Salvador on Thursday became the first country in the world to ban the mining of metals in what campaigners called a landmark move for environmental protection. The law bans "prospection, exploration, exploitation, extraction or processing of metallic m
Published 29 Apr, 2017 12:00am
GM earnings jump on strong North America sales

GM earnings jump on strong North America sales

General Motors reported a jump in first-quarter earnings Friday, topping analysts' estimates following strong sales in North America. The auto giant clocked another quarter of strong returns in North America from its line of trucks and crossover vehicles
Published 29 Apr, 2017 12:00am
GM earnings jump on strong North America sales

GM earnings jump on strong North America sales

General Motors reported a jump in first-quarter earnings Friday, topping analysts' estimates following strong sales in North America. The auto giant clocked another quarter of strong returns in North America from its line of trucks and crossover vehicles
Published 29 Apr, 2017 12:00am
Microsoft's revenue falls short of estimates

Microsoft's revenue falls short of estimates

Microsoft Corp on Thursday reported quarterly revenue that slightly missed analysts' estimates, as robust demand for its cloud computing services failed to offset weak growth in its personal computing division. The company's shares fell 1.9 percent to $67
Published 29 Apr, 2017 12:00am
Microsoft's revenue falls short of estimates

Microsoft's revenue falls short of estimates

Microsoft Corp on Thursday reported quarterly revenue that slightly missed analysts' estimates, as robust demand for its cloud computing services failed to offset weak growth in its personal computing division. The company's shares fell 1.9 percent to $67
Published 29 Apr, 2017 12:00am
Time Inc opts to stay independent

Time Inc opts to stay independent

US magazine publisher Time Inc said Friday it plans to remain independent as it shifts to a "multi-platform media marketplace," dismissing speculation of a sale or merger. The announcement sent shares in Time Inc plunging. The company known for Time magaz
Published 29 Apr, 2017 12:00am
Cotton sowing target fixed at six million acres
Cotton

Cotton sowing target fixed at six million acres

The Punjab government has fixed cotton sowing target at 6 million acres of land with production target fixed at 10 million bales. A spokesman of the Punjab Agriculture Department said on Friday that all resources are being utilised to meet the sowing and
Published 29 Apr, 2017 12:00am
PCMA inducted as youngest ICCA member

PCMA inducted as youngest ICCA member

Pakistan Chemical Manufacturers' Association (PCMA) was unanimously inducted as the youngest member of the International Council of Chemicals Association (ICCA) by virtue of which Pakistan has appeared on the global chemical industry map for the first tim
Published 29 Apr, 2017 12:00am
Jatoi inaugurates Hyderabad Engineering Support Center

Jatoi inaugurates Hyderabad Engineering Support Center

The Federal Minister for Industries and Production Ghulam Murtaza Jatoi here Friday inaugurated the Hyderabad Engineering Support Center (HESC) at Small Industrial Estate Extension. Speaking on the occasion, the minister congratulated Technology Up-gradat
Published 29 Apr, 2017 12:00am
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