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Print - 2017-05-07
Beijing housing loans fall 20 percent

Beijing housing loans fall 20 percent

Loans for home buyers in Beijing dropped 20 percent in the second to fourth weeks of April compared with the previous three weeks, state media said on Saturday, a sign that a flurry of tough curbs has helped calm the red-hot property market. Commercial ba
Published 07 May, 2017 12:00am
Germany proposed charging Britain for EU single market access

Germany proposed charging Britain for EU single market access

German government officials have proposed giving Britain access to the European Union's single market in return for a fee, Focus magazine said on Saturday citing a Finance Ministry report. The 35-page report on the potential costs of Brexit to Germany sai
Published 07 May, 2017 12:00am
Turkmenistan discovers potentially large gas field near Caspian

Turkmenistan discovers potentially large gas field near Caspian

Turkmenistan has discovered a potentially large natural gas field close to its Caspian coast, the Central Asian nation's state news agency reported on Saturday. Gas exports are the main source of hard currency for the former Soviet republic which is in ta
Published 07 May, 2017 12:00am
Indonesia sues Thailand's PTT, PTTEP for $2 billion over oil spill

Indonesia sues Thailand's PTT, PTTEP for $2 billion over oil spill

The Indonesian government is suing Thailand's state-owned PTT and PTT Exploration and Production for around $2 billion for alleged damage to the environment from an oil spill in the Timor Sea eight years ago. The Montara wellhead operated by subsidiary PT
Published 07 May, 2017 12:00am
Australian media shakeup could provide huge M&A opportunity

Australian media shakeup could provide huge M&A opportunity

Australia proposed scrapping media ownership restraints on Saturday which could raise huge interest among moguls looking for acquisitions, especially in its ailing, third-largest free-to-air television network, Ten Network Holdings. Federal Communications
Published 07 May, 2017 12:00am
Sri Lanka's airline sell off fails, seeks new partner

Sri Lanka's airline sell off fails, seeks new partner

A US equity firm that bid to buy a stake in Sri Lanka's loss-making national airline has pulled its offer, officials said Saturday as the carrier scrambled for a new partner. TPG, a San Francisco-based private equity firm, has withdrawn its bid for a 49 p
Published 07 May, 2017 12:00am
Fed should start trimming balance sheet in second half, says Bullard

Fed should start trimming balance sheet in second half, says Bullard

The Federal Reserve has interest rates right where they should be, but should start trimming its massive balance sheet in the second half of the year, St. Louis Federal Reserve Bank President James Bullard said on Friday. "We've delayed a little bit too l
Published 07 May, 2017 12:00am
Saudi Arabia, US in talks on billions in arms sales

Saudi Arabia, US in talks on billions in arms sales

Washington is working to push through contracts for tens of billions of dollars in arms sales to Saudi Arabia, some new, others in the pipeline, ahead of US President Donald Trump's trip to the kingdom this month, people familiar with the talks told Reute
Published 07 May, 2017 12:00am
China seeks up to 85 percent stake in strategic port in Myanmar

China seeks up to 85 percent stake in strategic port in Myanmar

China is looking to take a stake of up to 85 percent in a strategically important sea port in Myanmar, according to documents reviewed by Reuters, in a move that could heighten tensions over China's growing economic clout in the country. Beijing has been
Published 07 May, 2017 12:00am
Spain probes ex-HSBC executives

Spain probes ex-HSBC executives

A Spanish court is probing seven former executives of HSBC's private Swiss bank on suspicion of money laundering following an investigation of documents in the "Swissleaks" scandal on bank-supported tax evasion, legal sources told AFP Thursday.
Published 07 May, 2017 12:00am
Australia delays tapping seventh-largest sovereign fund for six years

Australia delays tapping seventh-largest sovereign fund for six years

Australia will delay tapping its $130 billion Future Fund, the world's seventh-largest sovereign fund, for at least six years to ensure it has sufficient assets to cover mounting public service pension liabilities, a newspaper said on Saturday. Federal Tr
Published 07 May, 2017 12:00am
Australia delays tapping seventh-largest sovereign fund for six years

Australia delays tapping seventh-largest sovereign fund for six years

Australia will delay tapping its $130 billion Future Fund, the world's seventh-largest sovereign fund, for at least six years to ensure it has sufficient assets to cover mounting public service pension liabilities, a newspaper said on Saturday. Federal Tr
Published 07 May, 2017 12:00am
Cigna boosts Q1 profit

Cigna boosts Q1 profit

Health insurer Cigna Corp, which is trying to ditch a takeover bid by Anthem Inc, said on Friday that first-quarter profit rose and it added hundreds of thousands of new members in its Obamacare individual business. Anthem also said on Friday it would app
Published 07 May, 2017 12:00am
Cigna boosts Q1 profit

Cigna boosts Q1 profit

Health insurer Cigna Corp, which is trying to ditch a takeover bid by Anthem Inc, said on Friday that first-quarter profit rose and it added hundreds of thousands of new members in its Obamacare individual business. Anthem also said on Friday it would app
Published 07 May, 2017 12:00am
Bangladesh floods cut potential 700,000 tonnes from rice harvest

Bangladesh floods cut potential 700,000 tonnes from rice harvest

Flash floods have washed away crops in northeastern Bangladesh that would have yielded nearly 700,000 tonnes of rice, according to estimates from the agriculture ministry. The fields hit by the floods were about to be harvested, a major blow to the south
Published 07 May, 2017 12:00am
Tesla's revenue more than doubles, helped by record deliveries

Tesla's revenue more than doubles, helped by record deliveries

Electric-car maker Tesla Inc reported quarterly revenue that more than doubled and also trumped analysts' expectations, driven by record deliveries of its Model X sports utility vehicles and Model S sedans. Tesla, led by billionaire entrepreneur Elon Musk
Published 07 May, 2017 12:00am
Tesla's revenue more than doubles, helped by record deliveries

Tesla's revenue more than doubles, helped by record deliveries

Electric-car maker Tesla Inc reported quarterly revenue that more than doubled and also trumped analysts' expectations, driven by record deliveries of its Model X sports utility vehicles and Model S sedans. Tesla, led by billionaire entrepreneur Elon Musk
Published 07 May, 2017 12:00am
Hong Kong retail sales grow for first time in two years

Hong Kong retail sales grow for first time in two years

Hong Kong's retail sales in March rose for the first time in two years on improved domestic consumption and as visitors from the Chinese mainland returned to shop in the city. Retail sales rose 3.1 percent in value terms to HK$35.7 billion ($4.6 billion)
Published 07 May, 2017 12:00am
Kazakhstan offers to sell Brazil uranium

Kazakhstan offers to sell Brazil uranium

Kazakhstan is offering to sell uranium to Brazil to cover the shortage of fuel for its atomic energy program and help the South American nation explore its large reserves of uranium ore, a senior Kazak official said on Friday. "We proposed the participati
Published 07 May, 2017 12:00am
Shareholder advisors challenge SAP board in row over pay

Shareholder advisors challenge SAP board in row over pay

Leading shareholder advisors have called on SAP investors to oppose the supervisory board of Europe's largest technology company in a dispute over management pay. Institutional Shareholder Services (ISS) took issue with the supervisory board's unwillingne
Published 07 May, 2017 12:00am
Frankfurt lays claim to Wall Street banks after Brexit

Frankfurt lays claim to Wall Street banks after Brexit

The five largest US investment banks are set to move hundreds of key staff within two years from London to Frankfurt, the city's chief lobbyist told Reuters, in a move that could bolster Germany's role in global finance. Hubertus Vaeth, who has been promo
Published 07 May, 2017 12:00am
London tries to lure Aramco with new listing structure
Exchange

London tries to lure Aramco with new listing structure

The London Stock Exchange is working on a new type of listing structure that would make it more attractive for oil giant Saudi Aramco to join the bourse, sources familiar with the discussions said. Exchanges around the world are vying for a piece of Saudi
Published 07 May, 2017 12:00am
Portugal breaks ranks as star eurozone bond performer

Portugal breaks ranks as star eurozone bond performer

In a major turnaround, Portugal has emerged as the year's best performing eurozone bond market outside little-traded Greece, helped by its improving economy and shrinking budget deficit and by the fading threat of a break-up of the bloc. Benchmark 10-year
Published 07 May, 2017 12:00am
Portugal breaks ranks as star eurozone bond performer

Portugal breaks ranks as star eurozone bond performer

In a major turnaround, Portugal has emerged as the year's best performing eurozone bond market outside little-traded Greece, helped by its improving economy and shrinking budget deficit and by the fading threat of a break-up of the bloc. Benchmark 10-year
Published 07 May, 2017 12:00am
TSX notches biggest gain in two months
Exchange

TSX notches biggest gain in two months

Canada's benchmark stock index notched its biggest advance in more than two months on Friday as commodity prices, especially oil, rebounded from losses earlier this week, while better-than-expected US jobs growth boosted sentiment on Wall Street. The Toro
Published 07 May, 2017 12:00am
China opens bond connect scheme applications to market makers
Exchange

China opens bond connect scheme applications to market makers

China has started accepting applications from bond market makers seeking clearance to participate in a bond connect scheme with Hong Kong, three sources with direct knowledge of the matter said on Friday. The China Foreign Exchange Trade System (CFETS), w
Published 07 May, 2017 12:00am
China opens bond connect scheme applications to market makers
Exchange

China opens bond connect scheme applications to market makers

China has started accepting applications from bond market makers seeking clearance to participate in a bond connect scheme with Hong Kong, three sources with direct knowledge of the matter said on Friday. The China Foreign Exchange Trade System (CFETS), w
Published 07 May, 2017 12:00am
Russian shares to rise for rest of 2017

Russian shares to rise for rest of 2017

Russian shares are forecast to rise around 11 percent by the end of the year as investors turn more bullish around economic recovery and a modest increase in oil prices, a Reuters poll showed on Wednesday. The RTS share index enjoyed a bumper 2016, rising
Published 07 May, 2017 12:00am
ICE allots $10 million for regulatory probes; earnings rise
Exchange

ICE allots $10 million for regulatory probes; earnings rise

Intercontinental Exchange Inc, which owns the New York Stock Exchange, said on Wednesday it has earmarked a $10 million "accrual" related to a regulatory probe into a nearly four-hour trading halt on the NYSE in July 2015, as well as other ongoing investi
Published 07 May, 2017 12:00am
ICE allots $10 million for regulatory probes; earnings rise
Exchange

ICE allots $10 million for regulatory probes; earnings rise

Intercontinental Exchange Inc, which owns the New York Stock Exchange, said on Wednesday it has earmarked a $10 million "accrual" related to a regulatory probe into a nearly four-hour trading halt on the NYSE in July 2015, as well as other ongoing investi
Published 07 May, 2017 12:00am
S&P 500 hits record on rebound in US job growth, energy shares
Exchange

S&P 500 hits record on rebound in US job growth, energy shares

Major US stock indexes gained on Friday, with the S&P 500 ending at a record high close, as energy stocks bounced back along with oil prices and US job growth rebounded. US nonfarm payrolls surged by 211,000 jobs last month after a paltry gain of 79,000 i
Published 07 May, 2017 12:00am
Canadian dollar recovers from 14-month low

Canadian dollar recovers from 14-month low

The Canadian dollar recouped all of its losses this week against the US dollar on Friday, as US oil prices bounced back from some of the previous session's steep drop. At 4 pm EDT (2000 GMT), the Canadian dollar was trading C$1.3656 to the greenback, or 7
Published 07 May, 2017 12:00am
Nigerian central bank trying to make FX rates converge
Exchange

Nigerian central bank trying to make FX rates converge

Nigeria's central bank is working to make exchange rates for its currency converge on the official and black markets, its spokesman said, and plans to offer $100 million on the forward market on Tuesday to boost liquidity. Nigeria runs a system of multipl
Published 07 May, 2017 12:00am
Yield appeal seen supporting Aussie, kiwi

Yield appeal seen supporting Aussie, kiwi

Analysts trimmed their bearish outlook on the Australian and New Zealand dollars, with expectations of stable domestic interest rates seen to support their yield appeal and limit the currencies' downside. A Reuters poll of 53 analysts saw the Aussie at $0
Published 07 May, 2017 12:00am
Yield appeal seen supporting Aussie, kiwi

Yield appeal seen supporting Aussie, kiwi

Analysts trimmed their bearish outlook on the Australian and New Zealand dollars, with expectations of stable domestic interest rates seen to support their yield appeal and limit the currencies' downside. A Reuters poll of 53 analysts saw the Aussie at $0
Published 07 May, 2017 12:00am
Dollar dips against euro as French politics offset US jobs data
Exchange

Dollar dips against euro as French politics offset US jobs data

The US dollar hit its lowest level against the euro in roughly six months on Friday after a sharp rebound in US jobs growth in April was not enough to offset investors' bullishness toward the euro ahead of the second round of France's presidential electio
Published 07 May, 2017 12:00am
Gundlach says dollar will stay on gentle weakening pattern

Gundlach says dollar will stay on gentle weakening pattern

The US dollar has been and will continue to be on a gentle weakening pattern, Jeffrey Gundlach, chief executive at DoubleLine Capital, said on an investor webcast late Tuesday. Gundlach, who oversees more than $100 billion at Los Angeles-based DoubleLine,
Published 07 May, 2017 12:00am
Dollar net longs fall to lowest in seven months

Dollar net longs fall to lowest in seven months

Net long positions on the US dollar fell sharply in the latest week to their lowest level since early October, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday. The dollar was a casualty of the euro's s
Published 07 May, 2017 12:00am
China's money rates hover at high levels for the week

China's money rates hover at high levels for the week

China's primary money rates hovered at elevated levels for the week and fell on Friday, although a small cash injection from the central bank reassured the market that the authorities' switch to a tightening of policy will be gradual. Cash conditions fail
Published 07 May, 2017 12:00am
China to step up crackdown on illegal forex deals in 2017
Exchange

China to step up crackdown on illegal forex deals in 2017

China will step up its crackdown on illegal foreign exchange deals this year as authorities boost authenticity and compliance checks on trade and investment, its forex regulator said on Wednesday. Beijing has announced a series of measures since November
Published 07 May, 2017 12:00am
Asia FX sentiment improves as worries over French elections ebb

Asia FX sentiment improves as worries over French elections ebb

Sentiment toward Asian currencies has improved from two weeks ago, as worries about the risk of an anti-establishment shock from the French presidential elections subsided, a Reuters poll showed on Thursday. Bullish bets on the Taiwan dollar nearly double
Published 07 May, 2017 12:00am
Shakhtar win 10th Ukrainian title

Shakhtar win 10th Ukrainian title

Shakhtar Donetsk won the Ukrainian title for the 10th time on Saturday with a 3-2 victory over Zorya Lugansk. Facundo Ferreyra, Brazilian defender Ismaily and Ivan Ordets got the goals for Shakhtar who then held on after Igor Kharatin and Dennis Bonaventu
Published 07 May, 2017 12:00am
Nastase to be denied accreditation for French Open

Nastase to be denied accreditation for French Open

Former Romanian tennis player Ilie Nastase will not be given accreditation for this year's French Open, organisers said on Saturday. The 70-year-old is provisionally banned from all International Tennis Federation (ITF) events after making allegedly racis
Published 07 May, 2017 12:00am
K-Electric win HinoPak Cricket title

K-Electric win HinoPak Cricket title

A prize distribution ceremony for the 21st HinoPak Cricket Tournament was held where the winning team K-Electric along with other notables was present. K-Electric became victorious after beating Pakistan Navy in the final by 81 runs and after beating Omar
Published 07 May, 2017 12:00am
Saul fires Atletico to top-four finish

Saul fires Atletico to top-four finish

Atletico Madrid secured Champions League football for a fifth straight season as Saul Niguez's solitary strike earned a 1-0 home win over Eibar on Saturday. Diego Simeone's men still harbour outside hopes of returning to the Champions League final for the
Published 07 May, 2017 12:00am
Britain down Australia to win Sultan Azlan Shah Cup

Britain down Australia to win Sultan Azlan Shah Cup

Great Britain won the Sultan Azlan Shah Cup for the first time ever on Saturday by defeating defending champions Australia 4-3 in Malaysia. With the victory, Britain became the first European team to win the cup since the Netherlands in 2006. Alan Forsyth
Published 07 May, 2017 12:00am
Bernat nets as Bayern relegate Darmstadt

Bernat nets as Bayern relegate Darmstadt

Spain defender Juan Bernat netted the only goal of the game as champions Bayern Munich beat Darmstadt 1-0 on Saturday, a result that confirmed their opponents' relegation. Bayern, Bundesliga champions for the fifth year in a row, were made to work for vic
Published 07 May, 2017 12:00am
Oldest US gold medallist Kiefer dies

Oldest US gold medallist Kiefer dies

Swimming legend Adolph Kiefer, who had been the oldest living US Olympic gold medalist in any sport, died on Friday at his home in Illinois at age 98, the International Swimming Hall of Fame said. Kiefer won the 100-meter backstroke at the 1936 Berlin Oly
Published 07 May, 2017 12:00am
Shahid Afridi rues awful state of sports in Sindh

Shahid Afridi rues awful state of sports in Sindh

Star all-rounder Shahid Afridi on Saturday deplored the awful state of sports in Sindh province of Pakistan. "Had Benazir Bhutto (two-time prime minister from Sindh) been alive, she would have taken notice of the state of sports in the province," said Afr
Published 07 May, 2017 12:00am
Controversial Verratti goal helps PSG keep pressure on Monaco

Controversial Verratti goal helps PSG keep pressure on Monaco

A hotly contested goal by Marco Verratti helped Paris Saint-Germain to a comfortable 5-0 win over bottom club Bastia on Saturday as the reigning champions kept the pressure on Ligue 1 leaders Monaco. Edinson Cavani scored twice and also had a late penalty
Published 07 May, 2017 12:00am
Kipchoge runs fastest marathon, fails to break two hours

Kipchoge runs fastest marathon, fails to break two hours

Eliud Kipchoge ran the quickest recorded marathon on Saturday, crossing the line at the Monza Formula One track in two hours and 25 seconds but missing out on an ambitious attempt to break the two-hour barrier. The 32-year-old's time smashed the official
Published 07 May, 2017 12:00am
Annual Sports Day prize distribution held

Annual Sports Day prize distribution held

A well organised and well-rehearsed Annual Sports Day prize distribution ceremony was held at the Town Boys Branch of The City School, Peshawar. Former Minister for Sports Syed Aqil Shah was the chief guest on the occasion. Senior sports journalist Ijaz A
Published 07 May, 2017 12:00am
City boost top four bid, Hull remain in trouble

City boost top four bid, Hull remain in trouble

Manchester City improved their prospects of qualifying for the Champions League with a 5-0 demolition of Crystal Palace, while relegation-threatened Hull suffered a damaging 2-0 defeat against Sunderland on Saturday. Frustrated by damaging draws in their
Published 07 May, 2017 12:00am
Indonesian security forces hunt inmates after mass breakout

Indonesian security forces hunt inmates after mass breakout

Indonesian security forces were Saturday hunting for more than 200 inmates still on the loose after a mass breakout from an overcrowded prison on Sumatra island, police said. More than 440 inmates fled the jail in Pekanbaru city Friday after prison guards
Published 07 May, 2017 12:00am
Workers seal contract deal at Collahuasi copper mine in Chile

Workers seal contract deal at Collahuasi copper mine in Chile

Workers at the Collahuasi copper mine in Chile, owned by Anglo American and Glencore, have sealed a new contract with management that runs until 2020, the two parties said in a statement released on Friday. Under the terms of the agreement, workers in Col
Published 07 May, 2017 12:00am
Islamic Jihad rejects Palestine state within 1967 borders

Islamic Jihad rejects Palestine state within 1967 borders

The radical Palestinian group Islamic Jihad has rejected Hamas's new policy of easing its stand on Israel and accepting the establishment of a Palestinian state limited to the 1967 borders. "As partners with our Hamas brothers in the struggle for liberati
Published 07 May, 2017 12:00am
Several thousand Poles protest against right-wing ruling party

Several thousand Poles protest against right-wing ruling party

Several thousand people demonstrated in Warsaw on Saturday against Poland's conservative, eurosceptic ruling party in an attempt by the opposition to build momentum ahead of next year's municipal elections. The crowd, variously estimated at between 10,000
Published 07 May, 2017 12:00am
German FM rebukes Switzerland over tax scandal

German FM rebukes Switzerland over tax scandal

German Foreign Minister Sigmar Gabriel on Saturday upbraided Switzerland for allegedly monitoring German finance inspectors who hunt cross-border tax cheats. In a further sign of Germany's anger over the affair, Gabriel said the episode was "incredible" b
Published 07 May, 2017 12:00am
Nine Chadian soldiers killed in Boko Haram

Nine Chadian soldiers killed in Boko Haram

Boko Haram militants killed nine Chadian soldiers in an attack on a military camp on Friday in the north of the Central African country close to the Nigerian border, an army spokesman said on Saturday. "On our side, there are nine dead and 28 wounded," Co
Published 07 May, 2017 12:00am
Twin blasts in Manila kill at least two

Twin blasts in Manila kill at least two

Two explosions in the Philippine capital on Saturday night killed two people and injured six others, police said, just over a week after another blast in the same area. An initial blast occurred around 6:00pm (1000 GMT) on Saturday near a mosque in Quiapo
Published 07 May, 2017 12:00am
World Bank resumes aid to impoverished Malawi

World Bank resumes aid to impoverished Malawi

The World Bank has resumed direct budget support to impoverished Malawi with an $80-million injection three years after donors pulled out due to a "cashgate" corruption scandal, officials said Saturday. Donors, which provide about 40 percent of Malawi's b
Published 07 May, 2017 12:00am
India gas tanker leak sends 200 students to hospital

India gas tanker leak sends 200 students to hospital

Nearly 200 school students were hospitalised Saturday after complaining of irritation in their eyes and throat following a gas leak in New Delhi, police said. Classes were underway when gas leaked from a container parked at a depot close to the school and
Published 07 May, 2017 12:00am
Italian FM in Libya for talks on peace and migrants

Italian FM in Libya for talks on peace and migrants

Italian Foreign Minister Angelino Alfano on Saturday held talks in Tripoli with top Libyan officials on peace efforts for the war-wracked country and ways to curb illegal migration to Europe. Alfano met Government of National Accord head Fayez al-Sarraj a
Published 07 May, 2017 12:00am
Iran army criticises Rouhani's missile comments
Exchange

Iran army criticises Rouhani's missile comments

Iran's armed forces warned President Hassan Rouhani against discussing the country's defence programme after he criticised the anti-Israel slogans written on the side of ballistic missiles, local media reported on Saturday. During an election debate on Fr
Published 07 May, 2017 12:00am
Guatemala volcano eruption subsides after hasty evacuations

Guatemala volcano eruption subsides after hasty evacuations

Activity at a volcano near Guatemala's capital went back to normal on Saturday, officials said, a day after 300 people were evacuated as it spat hot ash high into the air. The so-called Volcano of Fire lies 35 kilometers (22 miles) from Guatemala City. Au
Published 07 May, 2017 12:00am
Russia blocks Chinese social media app WeChat

Russia blocks Chinese social media app WeChat

Russia has blocked access to Chinese social media app WeChat, developed by Tencent Holdings , for failing to give its contact details to the Russian communications watchdog. Access to China's most popular social media platform has been restricted since Ma
Published 07 May, 2017 12:00am
Seven held in Russian anti-government rally

Seven held in Russian anti-government rally

Russian police arrested seven protesters at an opposition demonstration on Saturday held to commemorate violent rallies five years earlier against President Vladimir Putin. The seven were arrested for "public disorder" but four were quickly released witho
Published 07 May, 2017 12:00am
Germans in far north vote in test for Merkel rivals

Germans in far north vote in test for Merkel rivals

Germans in the far northern state of Schleswig-Holstein vote on Sunday in the first of two regional polls that the Social Democrats must win if they are to pose a serious challenge to Chancellor Angela Merkel in September's national election. The Social D
Published 07 May, 2017 12:00am
Libya rescues 129 migrants stranded at sea

Libya rescues 129 migrants stranded at sea

Gunmen mugged 129 migrants on a rubber dinghy headed for Europe and also stole the craft's engine, abandoning them off the Libyan coast, Libya's navy said on Saturday. Navy spokesman General Ayoub Qassem said the gunmen in a speedboat chased the dinghy on
Published 07 May, 2017 12:00am
Algeria Islamists allege fraud in parliamentary polls

Algeria Islamists allege fraud in parliamentary polls

Algeria's main Islamist coalition, which came third in this week's legislative elections, on Saturday accused the ruling coalition of ballot box stuffing, threatening and committing violence against its supporters. Abderrazak Makri, who heads the Movement
Published 07 May, 2017 12:00am
German president visits Israel in wake of diplomatic spat

German president visits Israel in wake of diplomatic spat

German President Frank-Walter Steinmeier arrived in Israel on Saturday at the start of a three-day trip just days after a row between Germany's foreign minister and Israeli premier Benjamin Netanyahu. Steinmeier's office said he would meet Netanyahu on Su
Published 07 May, 2017 12:00am
Nepali climber dies

Nepali climber dies

An 85-year-old Nepali man attempting to become the oldest to climb Mount Everest died at the base camp on Saturday, a hiking official said, the second climber to die in a week while preparing to climb the world's highest mountain. Min Bahadur Sherchan was
Published 07 May, 2017 12:00am
Argentina roiled by cut to sentences of dictatorship-era criminals

Argentina roiled by cut to sentences of dictatorship-era criminals

Argentina's government on Saturday publicly rejected a Supreme Court ruling that trims the sentences of those convicted for crimes committed during the country's 1976-1983 military dictatorship. "We reject the '2-for-1' concept and we reject that it be ap
Published 07 May, 2017 12:00am
20 sentenced to prison for deadly 2015 China landslide

20 sentenced to prison for deadly 2015 China landslide

Chinese courts have sentenced 19 government officials and one business leader to prison for up to 20 years for their roles in a landslide which killed more than 70 people. The disaster occurred in Shenzhen, a southern boom town bordering Hong Kong, at the
Published 07 May, 2017 12:00am
Egypt reopens crossing with Gaza in humanitarian move

Egypt reopens crossing with Gaza in humanitarian move

Egypt reopened the Rafah border crossing with the Gaza Strip for three days starting on Saturday to allow hundreds of stranded Palestinians to return home, officials said. The move, described by Palestinian border officials as a "humanitarian" gesture, wi
Published 07 May, 2017 12:00am
Trump counterterrorism strategy urges allies to do more

Trump counterterrorism strategy urges allies to do more

A draft of President Donald Trump's new counterterrorism strategy demands that US allies shoulder more of the burden in combating Islamist militants, while acknowledging that the scourge will never be totally eliminated. The 11-page draft, seen on Friday
Published 07 May, 2017 12:00am
Swiss trader ECOM wins German OK to buy cocoa grinder Euromar
Cotton

Swiss trader ECOM wins German OK to buy cocoa grinder Euromar

Swiss commodities trading group ECOM has received approval from German cartel authorities to purchase German cocoa grinder Euromar Commodities GmbH which declared insolvency in December, Euromar's insolvency administrator said on Tuesday. Production at Eu
Published 07 May, 2017 12:00am
Nickel falls from grace as bull narrative unravels
Exchange

Nickel falls from grace as bull narrative unravels

Nickel has gone from bull hero to zero in the space of just a couple of months. In early March, when London nickel was trading above $11,000 per tonne, it was the best performer among the major base metals traded on the London Metal Exchange (LME). At a c
Published 07 May, 2017 12:00am
US corn planting seen 31 percent complete, slowed by rain

US corn planting seen 31 percent complete, slowed by rain

US corn planting likely remained well behind last year's pace as heavy rain across the Midwest and snow in the US Plains during the weekend hindered farmers' attempts to seed, analysts said on Monday.
Published 07 May, 2017 12:00am
Firm euro cools EU wheat export hopes for end of season

Firm euro cools EU wheat export hopes for end of season

A rally in the euro has dented prospects for EU wheat exports for the end the 2016/17 season, potentially taking the shine off unexpectedly brisk shipments earlier to destinations from Vietnam to Turkey. Despite a reduced harvest surplus, EU shipments kep
Published 07 May, 2017 12:00am
Extension of Opec-led cuts could end oil glut by end-2017

Extension of Opec-led cuts could end oil glut by end-2017

Supply and demand in the oil market could fall into balance by the end of this year if Opec and its partners extend their deal to reduce crude output, a Reuters survey forecast on Friday. However, the prospect of rising output from outside Opec, led by US
Published 07 May, 2017 12:00am
New Zealand commodity prices down in April

New Zealand commodity prices down in April

Prices for New Zealand's main commodities were largely flat in April as falls in dairy offset gains in other commodities, ANZ Bank's commodity price index showed on Thursday. The index eased 0.2 percent for the month, compared with a 0.4 percent rise in t
Published 07 May, 2017 12:00am
US flour millers scramble for high-protein wheat on quality fears

US flour millers scramble for high-protein wheat on quality fears

US flour millers were scrambling to find high-protein wheat supplies remaining from last year's harvest amid fears the developing crop, some of which was hit by snow in Kansas this week, could yield lower-quality grain, buyers said on Friday. Wheat plants
Published 07 May, 2017 12:00am
Canadian canola stocks seen dwindling to four-year low

Canadian canola stocks seen dwindling to four-year low

Canadian stockpiles of canola dwindled to a four-year low ahead of planting season after brisk demand from crushers and exporters, but wheat supplies swelled, according to a Reuters survey of 12 traders and analysts. On Friday, Statistics Canada will esti
Published 07 May, 2017 12:00am
Ivory Coast and Ghana to work together to improve cocoa sectors

Ivory Coast and Ghana to work together to improve cocoa sectors

Ivory Coast and Ghana will work together to improve the organisation and sale of their cocoa, Presidents Alassane Ouattara and Nana Akufo-Addo said on Friday at the end of a summit. The West African neighbours, the world's two biggest cocoa producers, wil
Published 07 May, 2017 12:00am
Huge crops, record storage signal more woes for grain merchants

Huge crops, record storage signal more woes for grain merchants

In the face of a global grain glut that is crushing profits and raising questions about long-term prospects for the world's big grain merchants, the companies maintain they need only a drought or other supply shock to return to the riches of the past.
Published 07 May, 2017 12:00am
Prices of essential kitchen items witness increase: BR survey

Prices of essential kitchen items witness increase: BR survey

The prices of the essential kitchen items witnessed an increase during the past week as compared to the preceding week, a survey carried out by Business Recorder revealed here on Saturday. The survey observed that tomato price went up from Rs 225 t
Published 07 May, 2017 12:00am
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