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Dec 22, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-05-15
Special funds: Telecom operators demand downward revision

Special funds: Telecom operators demand downward revision

Telecom operators have demanded downward revision of special funds (Universal Service Fund @ 1.5% and Research & Development Fund @ 0.5%) before the upcoming spectrum (3G/4G) auction. Official sources revealed to Business Recorder that telecom licensees h
Published 15 May, 2017 12:00am
Special funds: Telecom operators demand downward revision

Special funds: Telecom operators demand downward revision

Telecom operators have demanded downward revision of special funds (Universal Service Fund @ 1.5% and Research & Development Fund @ 0.5%) before the upcoming spectrum (3G/4G) auction. Official sources revealed to Business Recorder that telecom licensees h
Published 15 May, 2017 12:00am
Nisar orders strict action against anti-army elements

Nisar orders strict action against anti-army elements

Interior Minister Chaudhry Nisar Ali Khan has directed to take stern action against social media users posting negative content to malign the armed forces, according to Aaj News. He has directed the cyber wing of the ministry to take quick action against
Published 15 May, 2017 12:00am
Nisar orders strict action against anti-army elements

Nisar orders strict action against anti-army elements

Interior Minister Chaudhry Nisar Ali Khan has directed to take stern action against social media users posting negative content to malign the armed forces, according to Aaj News. He has directed the cyber wing of the ministry to take quick action against
Published 15 May, 2017 12:00am
Businesses brace for today as ransomware threat lingers

Businesses brace for today as ransomware threat lingers

Technical staff scrambled on Sunday to patch computers and restore infected ones, amid fears that the ransomware worm that stopped car factories, hospitals, shops and schools could wreak fresh havoc on Monday when employees log back on. Cybersecurity expe
Published 15 May, 2017 12:00am
Businesses brace for today as ransomware threat lingers

Businesses brace for today as ransomware threat lingers

Technical staff scrambled on Sunday to patch computers and restore infected ones, amid fears that the ransomware worm that stopped car factories, hospitals, shops and schools could wreak fresh havoc on Monday when employees log back on. Cybersecurity expe
Published 15 May, 2017 12:00am
Businesses brace for today as ransomware threat lingers

Businesses brace for today as ransomware threat lingers

Technical staff scrambled on Sunday to patch computers and restore infected ones, amid fears that the ransomware worm that stopped car factories, hospitals, shops and schools could wreak fresh havoc on Monday when employees log back on. Cybersecurity expe
Published 15 May, 2017 12:00am
Businesses brace for today as ransomware threat lingers

Businesses brace for today as ransomware threat lingers

Technical staff scrambled on Sunday to patch computers and restore infected ones, amid fears that the ransomware worm that stopped car factories, hospitals, shops and schools could wreak fresh havoc on Monday when employees log back on. Cybersecurity expe
Published 15 May, 2017 12:00am
NAC meeting deferred on data delay

NAC meeting deferred on data delay

The National Accounts Committee (NAC) meeting scheduled today (Monday) to review the budgetary growth target for the current fiscal year has been deferred by two days and delay in data was attributed to postponement. Sources in the Pakistan Bureau of Stat
Published 15 May, 2017 12:00am
NAC meeting deferred on data delay

NAC meeting deferred on data delay

The National Accounts Committee (NAC) meeting scheduled today (Monday) to review the budgetary growth target for the current fiscal year has been deferred by two days and delay in data was attributed to postponement. Sources in the Pakistan Bureau of Stat
Published 15 May, 2017 12:00am
NAC meeting deferred on data delay

NAC meeting deferred on data delay

The National Accounts Committee (NAC) meeting scheduled today (Monday) to review the budgetary growth target for the current fiscal year has been deferred by two days and delay in data was attributed to postponement. Sources in the Pakistan Bureau of Stat
Published 15 May, 2017 12:00am
Trade Policy: AIDC refuses to support proposed amendment

Trade Policy: AIDC refuses to support proposed amendment

The Auto Industry Development Committee (AIDC) has refused to support proposed amendment in the Trade Policy meant to name the pre-shipment inspection agencies, after strong opposition from the local OEMs, well informed sources told Business Recorder.
Published 15 May, 2017 12:00am
Trade Policy: AIDC refuses to support proposed amendment

Trade Policy: AIDC refuses to support proposed amendment

The Auto Industry Development Committee (AIDC) has refused to support proposed amendment in the Trade Policy meant to name the pre-shipment inspection agencies, after strong opposition from the local OEMs, well informed sources told Business Recorder.
Published 15 May, 2017 12:00am
Trade Policy: AIDC refuses to support proposed amendment

Trade Policy: AIDC refuses to support proposed amendment

The Auto Industry Development Committee (AIDC) has refused to support proposed amendment in the Trade Policy meant to name the pre-shipment inspection agencies, after strong opposition from the local OEMs, well informed sources told Business Recorder.
Published 15 May, 2017 12:00am
'Million March': protesters dispersed as Kamal, PSP leaders arrested

'Million March': protesters dispersed as Kamal, PSP leaders arrested

Pak Sarzameen Party's (PSP) central leadership including its chairman Syed Mustafa Kamal, were taken into custody as police foiled their bid to take their rally to the CM House. The PSP's rally "Million March" was aimed at getting their 16 demands fulfill
Published 15 May, 2017 12:00am
'Million March': protesters dispersed as Kamal, PSP leaders arrested

'Million March': protesters dispersed as Kamal, PSP leaders arrested

Pak Sarzameen Party's (PSP) central leadership including its chairman Syed Mustafa Kamal, were taken into custody as police foiled their bid to take their rally to the CM House. The PSP's rally "Million March" was aimed at getting their 16 demands fulfill
Published 15 May, 2017 12:00am
2,200 evacuate rebel-held Damascus district

2,200 evacuate rebel-held Damascus district

More than 2,200 civilians and rebels evacuated an opposition district in Damascus on Sunday, state media said, bringing the government closer to cementing its control over the Syrian capital. The evacuations from the Qabun district in north-east Damascus
Published 15 May, 2017 12:00am
Xi''''''''s vision a harbinger of new era of connectivity: Shahbaz

Xi''''''''s vision a harbinger of new era of connectivity: Shahbaz

Punjab Chief Minister Shahbaz Sharif made a keynote address to Belt and Road Forum Sunday in Beijing. The Chief Minister addressed the forum verbally in a comprehensive manner instead of reading a written speech. The world leaders and heads of states of d
Published 15 May, 2017 12:00am
Xi''''s vision a harbinger of new era of connectivity: Shahbaz

Xi''''s vision a harbinger of new era of connectivity: Shahbaz

Punjab Chief Minister Shahbaz Sharif made a keynote address to Belt and Road Forum Sunday in Beijing. The Chief Minister addressed the forum verbally in a comprehensive manner instead of reading a written speech. The world leaders and heads of states of d
Published 15 May, 2017 12:00am
Xi''s vision a harbinger of new era of connectivity: Shahbaz

Xi''s vision a harbinger of new era of connectivity: Shahbaz

Punjab Chief Minister Shahbaz Sharif made a keynote address to Belt and Road Forum Sunday in Beijing. The Chief Minister addressed the forum verbally in a comprehensive manner instead of reading a written speech. The world leaders and heads of states of d
Published 15 May, 2017 12:00am
Xi's vision a harbinger of new era of connectivity: Shahbaz

Xi's vision a harbinger of new era of connectivity: Shahbaz

Punjab Chief Minister Shahbaz Sharif made a keynote address to Belt and Road Forum Sunday in Beijing. The Chief Minister addressed the forum verbally in a comprehensive manner instead of reading a written speech. The world leaders and heads of states of d
Published 15 May, 2017 12:00am
Xi's vision a harbinger of new era of connectivity: Shahbaz

Xi's vision a harbinger of new era of connectivity: Shahbaz

Punjab Chief Minister Shahbaz Sharif made a keynote address to Belt and Road Forum Sunday in Beijing. The Chief Minister addressed the forum verbally in a comprehensive manner instead of reading a written speech. The world leaders and heads of states of d
Published 15 May, 2017 12:00am
India skips summit

India skips summit

India has not sent an official delegation to attend the "Belt and Road Forum" in Beijing and instead criticised China''s global initiative, warning of an "unsustainable debt burden" for countries involved. Government officials from New Delhi did not trave
Published 15 May, 2017 12:00am
India skips summit

India skips summit

India has not sent an official delegation to attend the "Belt and Road Forum" in Beijing and instead criticised China's global initiative, warning of an "unsustainable debt burden" for countries involved. Government officials from New Delhi did not travel
Published 15 May, 2017 12:00am
India skips summit

India skips summit

India has not sent an official delegation to attend the "Belt and Road Forum" in Beijing and instead criticised China's global initiative, warning of an "unsustainable debt burden" for countries involved. Government officials from New Delhi did not travel
Published 15 May, 2017 12:00am
CPEC must not be politicised: Nawaz
Exchange

CPEC must not be politicised: Nawaz

Prime Minister Muhammad Nawaz Sharif on Sunday said the China Pakistan Economic Corridor (CPEC) under the One Belt, One Road (OBOR) initiative, was open to all countries in the region and categorically said the project "must not be politicised." "Let me m
Published 15 May, 2017 12:00am
CPEC must not be politicised: Nawaz
Exchange

CPEC must not be politicised: Nawaz

Prime Minister Muhammad Nawaz Sharif on Sunday said the China Pakistan Economic Corridor (CPEC) under the One Belt, One Road (OBOR) initiative, was open to all countries in the region and categorically said the project "must not be politicised." "Let me m
Published 15 May, 2017 12:00am
CPEC must not be politicised: Nawaz
Exchange

CPEC must not be politicised: Nawaz

Prime Minister Muhammad Nawaz Sharif on Sunday said the China Pakistan Economic Corridor (CPEC) under the One Belt, One Road (OBOR) initiative, was open to all countries in the region and categorically said the project "must not be politicised." "Let me m
Published 15 May, 2017 12:00am
China hosts Silk Road summit

China hosts Silk Road summit

China on Sunday touted its new Silk Road as "a project of the century" at a summit highlighting its growing leadership on globalisation, but a North Korean missile test competed for attention. President Xi Jinping hosted leaders from 29 nations for the tw
Published 15 May, 2017 12:00am
China hosts Silk Road summit

China hosts Silk Road summit

China on Sunday touted its new Silk Road as "a project of the century" at a summit highlighting its growing leadership on globalisation, but a North Korean missile test competed for attention. President Xi Jinping hosted leaders from 29 nations for the tw
Published 15 May, 2017 12:00am
China hosts Silk Road summit

China hosts Silk Road summit

China on Sunday touted its new Silk Road as "a project of the century" at a summit highlighting its growing leadership on globalisation, but a North Korean missile test competed for attention. President Xi Jinping hosted leaders from 29 nations for the tw
Published 15 May, 2017 12:00am
Futures spread up by 4128 basis points

Futures spread up by 4128 basis points

The futures spread increased by 4128bps to 8.40 percent during the outgoing week ended on May 12, 2017. Trading activities on the futures counter however remained dull as average daily trading volumes decreased by 6.1 percent to 47.17 million shares. Aver
Published 15 May, 2017 12:00am
Futures spread up by 4128 basis points

Futures spread up by 4128 basis points

The futures spread increased by 4128bps to 8.40 percent during the outgoing week ended on May 12, 2017. Trading activities on the futures counter however remained dull as average daily trading volumes decreased by 6.1 percent to 47.17 million shares. Aver
Published 15 May, 2017 12:00am
Historic level achieved
Exchange

Historic level achieved

Pakistan Stock Exchange witnessed bullish trend during the outgoing week ended on May 12, 2017 on the back of local investors and institutional support and the benchmark KSE-100 index crossed 51000 points psychological level for the first time in its hist
Published 15 May, 2017 12:00am
Historic level achieved
Exchange

Historic level achieved

Pakistan Stock Exchange witnessed bullish trend during the outgoing week ended on May 12, 2017 on the back of local investors and institutional support and the benchmark KSE-100 index crossed 51000 points psychological level for the first time in its hist
Published 15 May, 2017 12:00am
Historic level achieved
Exchange

Historic level achieved

Pakistan Stock Exchange witnessed bullish trend during the outgoing week ended on May 12, 2017 on the back of local investors and institutional support and the benchmark KSE-100 index crossed 51000 points psychological level for the first time in its hist
Published 15 May, 2017 12:00am
FBR mulling withdrawing fixed tax schemes

FBR mulling withdrawing fixed tax schemes

Federal Board of Revenue (FBR) is reviewing all fixed tax schemes for withdrawal of fixed regimes, which failed to achieve the desired results in coming budget (2017-18). It is learnt that the fixed tax schemes like scheme for developers and builders woul
Published 15 May, 2017 12:00am
FBR mulling withdrawing fixed tax schemes

FBR mulling withdrawing fixed tax schemes

Federal Board of Revenue (FBR) is reviewing all fixed tax schemes for withdrawal of fixed regimes, which failed to achieve the desired results in coming budget (2017-18). It is learnt that the fixed tax schemes like scheme for developers and builders woul
Published 15 May, 2017 12:00am
FBR mulling withdrawing fixed tax schemes

FBR mulling withdrawing fixed tax schemes

Federal Board of Revenue (FBR) is reviewing all fixed tax schemes for withdrawal of fixed regimes, which failed to achieve the desired results in coming budget (2017-18). It is learnt that the fixed tax schemes like scheme for developers and builders woul
Published 15 May, 2017 12:00am
THE RUPEE: modest decline
Exchange

THE RUPEE: modest decline

The rupee fell modestly in relation to the dollar on the money market during the week, ended on May 15, 2017 In the open market, the rupee lost 30 paisas in terms of the dollar for buying and selling at Rs 105.80 and Rs 106.00. The rupee shed 15 paisas ve
Published 15 May, 2017 12:00am
THE RUPEE: modest decline
Exchange

THE RUPEE: modest decline

The rupee fell modestly in relation to the dollar on the money market during the week, ended on May 15, 2017 In the open market, the rupee lost 30 paisas in terms of the dollar for buying and selling at Rs 105.80 and Rs 106.00. The rupee shed 15 paisas ve
Published 15 May, 2017 12:00am
OBOR to boost trade, market integration: Dar

OBOR to boost trade, market integration: Dar

Finance Minister Senator Ishaq Dar Sunday said the One Belt One Road (OBOR) initiative had the potential to create the world's largest platform for economic co-operation, financial integration, trade and the integration of markets. Speaking as a panellist
Published 15 May, 2017 12:00am
The Weather

The Weather

The weather report on Sunday (May 14, 2017) and the forecast for Monday (May 15, 2017).

Published 15 May, 2017 12:00am
Your rupee last week
Exchange

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (May 08 to 12, 2017).

Published 15 May, 2017 12:00am
DP World plays a significant role

DP World plays a significant role

DP World plays a significant role in the communities in which we operate. As a world class business integral to the supply chain of our customers, we act with integrity in the development of solutions for our customers and partners, leveraging the talent
Published 15 May, 2017 12:00am
Success story of SSGC

Success story of SSGC

SSGC's incredible success story began in 1954 when engineers and technicians of Sui Gas Transmission Company pioneered the construction of Asia's first 16 inch diameter, 558 km long pipeline. The pipeline was part of a grand vision to harness natural gas
Published 15 May, 2017 12:00am
McDonald's: commitment

McDonald's: commitment

Our mission is to consistently provide every customer with the best possible restaurant experience each and every time they visit us to fulfil this mission, we are committed to being a socially responsible company, as both an active member of the communit
Published 15 May, 2017 12:00am
'Faysal Bank strongly believes in giving back to the community'

'Faysal Bank strongly believes in giving back to the community'

An interview with Nauman Ansari, President & Chief Executive Officer of Faysal Bank Limited With Faysal Bank being the leading bank in Pakistan, what are the elements that have brought the Bank to this point of growth? At Faysal Bank we recognize t
Published 15 May, 2017 12:00am
NPB excelling in corporate social responsibility and sports

NPB excelling in corporate social responsibility and sports

Corporate Social Responsibility is an integral part of NBP's Corporate Policy. As a leading financial Institution in the country. NBP has taken various initiatives that demonstrate its resolve towards the community at large. The Bank is running a full-fle
Published 15 May, 2017 12:00am
Type of prostate cancer surgery tied to later quality of life

Type of prostate cancer surgery tied to later quality of life

The quality of life men have after prostate cancer is influenced by the type of treatment they choose, a recent study confirms. Researchers found that two years out, patients do better in areas like sexual function and urinary incontinence after having ce
Published 15 May, 2017 12:00am
Hepatitis C nearly triples in US in five years

Hepatitis C nearly triples in US in five years

The number of hepatitis C infection cases have nearly tripled in the United States in the last five years, particularly among people in their 20s, researchers said on Thursday. The bloodborne virus is transmitted by injection drug use, dirty needles, bloo
Published 15 May, 2017 12:00am
Satellites find 'hidden forests' helping fight against global warming

Satellites find 'hidden forests' helping fight against global warming

Vast tracts of land previously considered barren are actually covered by forests "hiding in plain sight", scientists said on Friday, a discovery that could help the fight against climate change and desertification. An international team of researchers led
Published 15 May, 2017 12:00am
Laws to curb climate change exceed 1,200 worldwide

Laws to curb climate change exceed 1,200 worldwide

Nations around the world have adopted more than 1,200 laws to curb climate change, up from about 60 two decades ago, which is a sign of widening efforts to limit rising temperatures, a study showed on Tuesday. "Most countries have a legal basis on which f
Published 15 May, 2017 12:00am
Greater total pollution exposure tied to higher cancer risk

Greater total pollution exposure tied to higher cancer risk

Living in areas with higher total exposures to harmful pollutants in the air, water and land is associated with greater odds of developing cancer, a US study suggests. While plenty of previous research has linked individual pollutants to increased risks o
Published 15 May, 2017 12:00am
Can herbal remedies help kids with gastrointestinal issues?

Can herbal remedies help kids with gastrointestinal issues?

Many parents of children with debilitating gastrointestinal disorders may be frustrated by the lack of good treatment options and tempted to try herbal remedies at home, but a new study suggests they should proceed with caution.
Published 15 May, 2017 12:00am
Alaska's tundra releasing more CO2 than it takes in

Alaska's tundra releasing more CO2 than it takes in

The Alaskan tundra appears to be emitting more carbon dioxide than it captures, a dynamic that could accelerate climate warming as vast stores of CO2 trapped in Arctic soils are unlocked by rising temperatures. A question scientists have had is whether a
Published 15 May, 2017 12:00am
German cyber agency chides Yahoo for not helping in hacking probes

German cyber agency chides Yahoo for not helping in hacking probes

Germany's federal cyber agency said on May 11 that Yahoo Inc had not cooperated with its investigation into a series of hacks that compromised more than one billion of the US company's email users between 2013 and 2016. Yahoo's Dublin-based Europe, Middle
Published 15 May, 2017 12:00am
Facebook takes aim at 'low quality' websites

Facebook takes aim at 'low quality' websites

Facebook said Wednesday it was making changes designed to keep its users from linking to "low-quality" websites, part of an effort to fight spam and misinformation. The world's biggest social network said it is updating its ranking algorithm with the help
Published 15 May, 2017 12:00am
Amazon leads surging connected speakers market: survey

Amazon leads surging connected speakers market: survey

Amazon has grabbed more than two-thirds of the fast-growing market in the US for connected speakers with its family of Alexa-powered Echo devices, a survey showed Monday. The survey by research firm eMarketer found Amazon's Echo speakers held 70.6 percent
Published 15 May, 2017 12:00am
BRB system test conducted at NED university

BRB system test conducted at NED university

The Department of Earthquake Engineering, NED University on Saturday performed shaking table test of buckling resistant bracing (BRB) system here at department's lab. The BRB system test was conducted for the first time in Pakistan under the supervision o
Published 15 May, 2017 12:00am
Microsoft aims at 'mixed reality' with new devices

Microsoft aims at 'mixed reality' with new devices

Microsoft on Thursday debuted hardware for reaching into virtual worlds powered by its technology as it looked to "mixed reality" as the next big computing platform. An update coming to Windows 10 operating system later this year will "see the magic of mi
Published 15 May, 2017 12:00am
Microsoft making mobile connection with Windows update

Microsoft making mobile connection with Windows update

Microsoft on Thursday unveiled a forthcoming Windows update aimed at keeping its desktop and laptop computers at the heart of lifestyles increasing reliant on smartphones. Enhancements to the widely used operating system to roll out later this year are de
Published 15 May, 2017 12:00am
Researcher finds 'kill switch' to prevent WannaCry ransomware

Researcher finds 'kill switch' to prevent WannaCry ransomware

A cybersecurity researcher appears to have discovered a "kill switch" that can prevent the spread of the WannaCry ransomware - for now - that has caused the cyberattacks wreaking havoc globally, they told AFP Saturday. The researcher, tweeting as @Malware
Published 15 May, 2017 12:00am
SoftBank logs second-best annual profit
Exchange

SoftBank logs second-best annual profit

Japan's SoftBank Group Corp said it had notched up its second-best annual profit on cost cuts and a rise in subscribers at Sprint Corp, adding that it was eager to discuss potential M&A for the loss-making US wireless unit. Chief Executive Masayoshi Son a
Published 15 May, 2017 12:00am
SoftBank logs second-best annual profit
Exchange

SoftBank logs second-best annual profit

Japan's SoftBank Group Corp said it had notched up its second-best annual profit on cost cuts and a rise in subscribers at Sprint Corp, adding that it was eager to discuss potential M&A for the loss-making US wireless unit. Chief Executive Masayoshi Son a
Published 15 May, 2017 12:00am
ING Q1 underlying pretax profit up 39 percent

ING Q1 underlying pretax profit up 39 percent

ING Groep, the largest Dutch financial services company, reported on Wednesday a better than expected first-quarter underlying pretax profit of 1.65 billion euros, up 39 percent from a year ago. Analysts polled for Reuters had seen underlying pretax profi
Published 15 May, 2017 12:00am
ING Q1 underlying pretax profit up 39 percent

ING Q1 underlying pretax profit up 39 percent

ING Groep, the largest Dutch financial services company, reported on Wednesday a better than expected first-quarter underlying pretax profit of 1.65 billion euros, up 39 percent from a year ago. Analysts polled for Reuters had seen underlying pretax profi
Published 15 May, 2017 12:00am
Emirates airline posts 82.5 percent drop in 2016-17 profit

Emirates airline posts 82.5 percent drop in 2016-17 profit

Leading Middle East airline Emirates said on Thursday its profits had plunged by 82.5 percent in its last fiscal year, blaming fierce competition, currency devaluations and US travel restrictions. Emirates, which has emerged as a major global carrier oper
Published 15 May, 2017 12:00am
Emirates airline posts 82.5 percent drop in 2016-17 profit

Emirates airline posts 82.5 percent drop in 2016-17 profit

Leading Middle East airline Emirates said on Thursday its profits had plunged by 82.5 percent in its last fiscal year, blaming fierce competition, currency devaluations and US travel restrictions. Emirates, which has emerged as a major global carrier oper
Published 15 May, 2017 12:00am
Deutsche Telekom Q1 core profit beats expectations
Exchange

Deutsche Telekom Q1 core profit beats expectations

Deutsche Telekom reported better than expected first-quarter core profit and sales on Thursday, helped by growth in Germany and the United States, though a writedown on its stake in BT weighed on its net profit. Adjusted earnings before interest, tax, dep
Published 15 May, 2017 12:00am
Deutsche Telekom Q1 core profit beats expectations
Exchange

Deutsche Telekom Q1 core profit beats expectations

Deutsche Telekom reported better than expected first-quarter core profit and sales on Thursday, helped by growth in Germany and the United States, though a writedown on its stake in BT weighed on its net profit. Adjusted earnings before interest, tax, dep
Published 15 May, 2017 12:00am
Panasonic net profit down on solar systems, yen rise
Exchange

Panasonic net profit down on solar systems, yen rise

Japan's Panasonic said on Thursday that annual net profit and revenue slumped because of slowing demand for household solar energy products and the impact of a stronger yen, but predicted a rebound this year. Net profit fell nearly 10 percent to 149.36 bi
Published 15 May, 2017 12:00am
UniCredit doubles Q1 profit as overhaul reaps rewards
Exchange

UniCredit doubles Q1 profit as overhaul reaps rewards

Italian bank UniCredit said Thursday that its net profit more than doubled in the first quarter as the massive overhaul embarked upon by its new chief executive begins to pay off. UniCredit said in a statement that net profit soared to 907 million euros (
Published 15 May, 2017 12:00am
Swiss Life marks 'good start' to 2017

Swiss Life marks 'good start' to 2017

Swiss Life said it was making progress on its 2018 strategic goals thanks to growth in its fee business and third-party asset management despite lower first-quarter premiums. Gross premiums fell 1 percent in local currency to 6.54 billion Swiss francs ($6
Published 15 May, 2017 12:00am
Credit Agricole's Q1 profits surge higher

Credit Agricole's Q1 profits surge higher

French bank Credit Agricole reported a near fourfold increase in first-quarter profit, as it moved on from a complex revamp of shareholding ties with its parent group and benefited from a surge in trading activity. Credit Agricole, whose asset management
Published 15 May, 2017 12:00am
Credit Agricole's Q1 profits surge higher

Credit Agricole's Q1 profits surge higher

French bank Credit Agricole reported a near fourfold increase in first-quarter profit, as it moved on from a complex revamp of shareholding ties with its parent group and benefited from a surge in trading activity. Credit Agricole, whose asset management
Published 15 May, 2017 12:00am
Mitsubishi Motors sees profit surge on higher Asia sales

Mitsubishi Motors sees profit surge on higher Asia sales

Japan's Mitsubishi Motors Corp on Tuesday forecast a near 14-fold rise in operating profit this year, as higher sales and cost savings from its alliance with Nissan Motor Co helps it draw a line under last year's mileage cheating scandal. Mitsubishi Motor
Published 15 May, 2017 12:00am
Mitsubishi Motors sees profit surge on higher Asia sales

Mitsubishi Motors sees profit surge on higher Asia sales

Japan's Mitsubishi Motors Corp on Tuesday forecast a near 14-fold rise in operating profit this year, as higher sales and cost savings from its alliance with Nissan Motor Co helps it draw a line under last year's mileage cheating scandal. Mitsubishi Motor
Published 15 May, 2017 12:00am
ECB warns of bubble risk from banks' 'unconstrained' credit creation

ECB warns of bubble risk from banks' 'unconstrained' credit creation

Banks' "unconstrained" ability to generate credit by pledging the same assets as collateral multiple times needs to be curbed or risks creating a new financial bubble, the vice president of the European Central Bank said on Thursday. Vitor Constancio's re
Published 15 May, 2017 12:00am
Gulf markets slip; IMF agreement fails to lift Egypt

Gulf markets slip; IMF agreement fails to lift Egypt

Most Gulf stock markets edged down on Sunday with Saudi Arabia dampened by a much wider first-quarter loss at PetroRabigh, while agreement between the International Monetary Fund and Cairo did little to help Egypt's bourse. The Saudi stock index slipped 0
Published 15 May, 2017 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Sunday. 80.50-80.50 (previous 80.50-80.50).
Published 15 May, 2017 12:00am
Japanese investors dump record amount of foreign bonds

Japanese investors dump record amount of foreign bonds

Japanese investors sold a record 4.256 trillion yen ($37.24 billion) of foreign bonds in April, the first month of their 2017/18 financial year, data from the Ministry of Finance showed on Thursday. The Japanese investors' foray into global bonds had stop
Published 15 May, 2017 12:00am
Japanese investors dump record amount of foreign bonds

Japanese investors dump record amount of foreign bonds

Japanese investors sold a record 4.256 trillion yen ($37.24 billion) of foreign bonds in April, the first month of their 2017/18 financial year, data from the Ministry of Finance showed on Thursday. The Japanese investors' foray into global bonds had stop
Published 15 May, 2017 12:00am
Iceland's last capital controls may be gone by year-end
Exchange

Iceland's last capital controls may be gone by year-end

Iceland's remaining capital controls should be ended by the end of the year, a top finance official said, dovetailing with a potentially radical overhaul of monetary policy that may include a peg. The country's recovery from its crippling 2008 banking cri
Published 15 May, 2017 12:00am
Nigeria bond auction raises less than hoped

Nigeria bond auction raises less than hoped

Nigeria sold fewer bonds at auction than expected as the yields on offer failed to attract foreign investors worried about currency risk, traders said. The Debt Management Office (DMO) raised 110 billion naira ($318 million) of the 140 billion naira it ha
Published 15 May, 2017 12:00am
Nigeria bond auction raises less than hoped

Nigeria bond auction raises less than hoped

Nigeria sold fewer bonds at auction than expected as the yields on offer failed to attract foreign investors worried about currency risk, traders said. The Debt Management Office (DMO) raised 110 billion naira ($318 million) of the 140 billion naira it ha
Published 15 May, 2017 12:00am
Chinese yuan, Indian rupee forecast to fall over coming year
Exchange

Chinese yuan, Indian rupee forecast to fall over coming year

The Chinese yuan and Indian rupee are expected to weaken against the dollar over the coming year, a Reuters poll found, with the greenback supported by US interest rate hikes, though analysts have trimmed their bearish bets on Asian currencies from the pr
Published 15 May, 2017 12:00am
As index reach grows, FTSE Russell chief downplays fears
Exchange

As index reach grows, FTSE Russell chief downplays fears

Don't fear the indexes, learn from them. That is the message from Mark Makepeace, the chief executive of FTSE Russell, the index provider whose products are now used to track roughly $12.5 trillion as clients pour money into so-called passive products. So
Published 15 May, 2017 12:00am
Wall Street week ahead: Technicals stand out amid a quiet market

Wall Street week ahead: Technicals stand out amid a quiet market

As the strongest earnings season since 2011 draws to a close, and with the S&P 500 and Nasdaq Composite hovering near record highs, the biggest concern for some market analysts is, well, the lack of concern. The largest daily move on the S&P 500 in almost
Published 15 May, 2017 12:00am
WTA slams Nastase presence as Halep retains Madrid title
Exchange

WTA slams Nastase presence as Halep retains Madrid title

Simona Halep thanked much-criticised Fed Cup coach Ilie Nastase after defending her Madrid Open title on Saturday, but the 70-year-old's role in the trophy presentation was labelled "irresponsible and unacceptable" by the WTA. Halep, who edged out Kristin
Published 15 May, 2017 12:00am
Players' mediation call after CA pay threat 'aggression'

Players' mediation call after CA pay threat 'aggression'

The players' union called on Cricket Australia Sunday to mediate over intractable wage negotiations instead of threatening not to pay their stars. The governing body late last week threatened not to pay contracted players beyond June 30 unless the propose
Published 15 May, 2017 12:00am
Coutinho masterclass lifts Reds back to third

Coutinho masterclass lifts Reds back to third

Philippe Coutinho fired Liverpool within touching distance of the Champions League as the Brazilian's masterclass inspired a 4-0 demolition of West Ham on Sunday. Jurgen Klopp's side took the lead when Coutinho's sublime pass was converted by Daniel Sturr
Published 15 May, 2017 12:00am
Hamilton wins thrilling Spanish Grand Prix

Hamilton wins thrilling Spanish Grand Prix

Lewis Hamilton roared back into serious contention for a fourth drivers' world title on Sunday when he drove to a well-judged victory for Mercedes in a dramatic Spanish Grand Prix. The three-time champion recovered after losing the lead from his 64th pole
Published 15 May, 2017 12:00am
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