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Nov 24, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-05-27
EU wheat prices flat ahead of long holiday

EU wheat prices flat ahead of long holiday

European wheat prices were flat on Wednesday in light trade ahead of a long holiday weekend in many European countries and nearly unchanged US markets. The price of May milling wheat on Paris-based Euronext was unchanged by 1453 GMT at 167 euros a tonne.
Published 27 May, 2017 12:00am
Supplies: GST withholding proposed to be withdrawn

Supplies: GST withholding proposed to be withdrawn

Taking a major step towards simplifying the procedures for registered taxpayers, the Federal Board of Revenue (FBR) has withdrawn provision of sales tax withholding on supplies from registered persons to other registered persons under the Finance Bill 201
Published 27 May, 2017 12:00am
Indian shares hit record highs

Indian shares hit record highs

Indian shares hit record highs on Friday, with Reliance Industries and Tata Steel Ltd leading the gains, as higher derivatives rollover led to strong follow-up buying in index heavyweights. The broader NSE index rose as much as 0.59 percent to a record hi
Published 27 May, 2017 12:00am
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Tokyo stocks hit by OPEC move, Nintendo at eight-year high

Tokyo stocks hit by OPEC move, Nintendo at eight-year high

Tokyo stocks fell Friday as energy firms were hit by an OPEC decision not to cut output more to buoy oil prices, but videogame giant Nintendo hit an eight-year high on rosy sales prospects. Investors were disappointed that the Organization of the Petroleu
Published 27 May, 2017 12:00am
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Friday's early afternoon trade: stocks little changed

Friday's early afternoon trade: stocks little changed

US stocks were little changed in early afternoon trading on Friday, taking a breather after six straight days of gains and ahead of a three-day holiday weekend. Another strong day for consumer stocks was offset by weakness in healthcare and real estate st
Published 27 May, 2017 12:00am
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Nasdaq, S&P hit record highs, helped by consumer stocks
Exchange

Nasdaq, S&P hit record highs, helped by consumer stocks

The S&P 500 and Nasdaq hit record closing highs on Thursday, with the market propped up by gains in the consumer discretionary sector after strong reports from Best Buy and other retailers. The discretionary index gained 0.9 percent, while the S&P 500 ret
Published 27 May, 2017 12:00am
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Sri Lankan shares lower

Sri Lankan shares lower

Sri Lankan shares ended lower on Friday, recording their first weekly decline in nine, as investors booked profits in shares of diversified companies such as John Keells Holdings Plc and Melstacorp Plc. The Colombo stock index ended 0.25 percent weaker at
Published 27 May, 2017 12:00am
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Treasury yields dip slightly

Treasury yields dip slightly

US Treasury yields fell slightly on Thursday on doubts whether the Federal Reserve would raise interest rates more than once by the end of 2017 as it signaled it is preparing to shrink its $4.5 trillion balance sheet later this year. Bond yields slipped i
Published 27 May, 2017 12:00am
Telecom sector: FED reduced to 17 percent
Exchange

Telecom sector: FED reduced to 17 percent

The government has announced major incentives for telecom sector by reducing Federal Excise Duty from 18.5% to 17% on telecommunication services, a reduction in the rate of withholding tax for mobile phone subscribers from 14% to 12.5% and custom duty red
Published 27 May, 2017 12:00am
Treasury yields dip slightly

Treasury yields dip slightly

US Treasury yields fell slightly on Thursday on doubts whether the Federal Reserve would raise interest rates more than once by the end of 2017 as it signaled it is preparing to shrink its $4.5 trillion balance sheet later this year. Bond yields slipped i
Published 27 May, 2017 12:00am
Over-optimism surrounds election-year budget
Mutual Funds

Over-optimism surrounds election-year budget

The federal government of Pakistan Muslim League (Nawaz) on Friday unveiled a Rs 4,753 billion deficit budget for the next fiscal year (2017-18), envisaging a huge spending in election year as well as an increase in pay and pension of military and civil g
Published 27 May, 2017 12:00am
Hong Kong stocks snap five day winning streak

Hong Kong stocks snap five day winning streak

Hong Kong stocks broke a five-day winning streak on Friday, as gains in air carriers were offset by weakness in energy shares following a tumble in oil prices. Chinese investors failed to lend support to the market during the session because two cross-bor
Published 27 May, 2017 12:00am
Over-optimism surrounds election-year budget
Mutual Funds

Over-optimism surrounds election-year budget

The federal government of Pakistan Muslim League (Nawaz) on Friday unveiled a Rs 4,753 billion deficit budget for the next fiscal year (2017-18), envisaging a huge spending in election year as well as an increase in pay and pension of military and civil g
Published 27 May, 2017 12:00am
China stocks end week higher

China stocks end week higher

China stocks reversed earlier losses to end the week higher on Friday, led by the blue-chip CSI300 index posting its best week in six months as suspected state-directed buying offset concerns over a surprise move by Moody's to cut the country's credit rat
Published 27 May, 2017 12:00am
Over-optimism surrounds election-year budget
Mutual Funds

Over-optimism surrounds election-year budget

The federal government of Pakistan Muslim League (Nawaz) on Friday unveiled a Rs 4,753 billion deficit budget for the next fiscal year (2017-18), envisaging a huge spending in election year as well as an increase in pay and pension of military and civil g
Published 27 May, 2017 12:00am
Oil, banks trip up European shares

Oil, banks trip up European shares

European shares slid in thin trade on Friday as shares in energy firms and banks dropped, ending a lacklustre week relatively little changed. The pan-European STOXX 600 index closed 0.2 percent lower as did the euro zone blue chips. Banks were the biggest
Published 27 May, 2017 12:00am
Over-optimism surrounds election-year budget
Mutual Funds

Over-optimism surrounds election-year budget

The federal government of Pakistan Muslim League (Nawaz) on Friday unveiled a Rs 4,753 billion deficit budget for the next fiscal year (2017-18), envisaging a huge spending in election year as well as an increase in pay and pension of military and civil g
Published 27 May, 2017 12:00am
Australian stocks dive

Australian stocks dive

Australia stocks ended lower on Friday, battered by a downturn in commodity prices - especially oil - after OPEC's modest extension of output curbs disappointed investors who had hoped for more. The S&P/ASX 200 index slipped 37.9 points or 0.66 percent to
Published 27 May, 2017 12:00am
Southeast Asian stocks flat to lower

Southeast Asian stocks flat to lower

Southeast Asian shares ended flat to lower on Friday tracking weakness in Asian peers after an OPEC-led decision to extend output cut fell short of expectations, triggering a sell-off in energy stocks. At Thursday's meeting in Vienna, the Organization of
Published 27 May, 2017 12:00am
FTSE gets sterling boost as Europe dragged lower by banks

FTSE gets sterling boost as Europe dragged lower by banks

European shares slipped on Friday, dragged down by weaker banks, but British stocks managed to hit new records as sterling slid on a poll showing a narrower lead for the ruling party less than two weeks before a general election. Sterling dived more than
Published 27 May, 2017 12:00am
Pounds slips, commodity currencies shaky in Asia

Pounds slips, commodity currencies shaky in Asia

Sterling fell on Friday after a poll showed a narrowing lead for British Prime Minister Theresa May over her opposition ahead of elections next month, while weakness in oil prices dragged on commodity-linked currencies. In a sign that the June 8 election
Published 27 May, 2017 12:00am
Yen rises, sterling falters in Europe

Yen rises, sterling falters in Europe

The yen rose nearly 1 percent on Friday against the dollar after a dip in Treasury yields hit the US currency, while Britain's pound hit a three-week low after a poll showed a narrowing lead for the ruling Conservatives before elections next month. The do
Published 27 May, 2017 12:00am
Early trade in New York: Dollar rises to one-week high

Early trade in New York: Dollar rises to one-week high

The dollar rose to a one-week high on Friday after upbeat US gross domestic product data while Britain's pound slipped after a poll showed a narrowing lead for the ruling Conservatives before elections next month. The dollar index, which tracks the greenb
Published 27 May, 2017 12:00am
Dollar steadies against basket of currencies in NY

Dollar steadies against basket of currencies in NY

The dollar steadied against a basket of major currencies on Thursday, a day after Federal Reserve minutes that dialed down some expectations of the central bank hiking interest rates soon. The dollar index, which tracks the greenback against six major riv
Published 27 May, 2017 12:00am
Canadian dollar rises

Canadian dollar rises

The Canadian dollar edged higher against its US counterpart on Friday as prices of oil, one of Canada's major exports, stabilized after a sharp drop the day before. US crude prices were up 0.22 percent at $49.01 a barrel. Gains for the loonie came even as
Published 27 May, 2017 12:00am
Sri Lankan rupee up

Sri Lankan rupee up

The Sri Lankan rupee ended slightly higher on Friday as dollar selling by banks surpassed importer demand for the US currency, traders said. Rupee forwards were active, with spot-next forwards ending at 152.85/95 per dollar, compared with Thursday's close
Published 27 May, 2017 12:00am
Asian forex: Yuan at over three month high, ringgit jumps

Asian forex: Yuan at over three month high, ringgit jumps

China's yuan rose to a three-month high on Friday, and the Malaysian ringgit firmed to its strongest in nearly two years after OPEC and other oil producers agreed to keep output reduced for a further nine months, but most Asian currencies were directionle
Published 27 May, 2017 12:00am
Sterling suffers biggest one-day fall since January

Sterling suffers biggest one-day fall since January

Sterling suffered its steepest fall since January on Friday after an opinion poll showed the governing Conservatives' lead over the Labour opposition down to just 5 percentage points less than two weeks before a parliamentary election. The pound sank agai
Published 27 May, 2017 12:00am
Aussie, kiwi down

Aussie, kiwi down

The Australian and New Zealand dollars nursed losses versus their US counterpart on Friday following a commodities rout, but were on track for hefty weekly gains against a soggy pound. The Australian dollar dropped to $0.7431, the weakest this week, havin
Published 27 May, 2017 12:00am
US loan growth slows but profits climb in Q1

US loan growth slows but profits climb in Q1

The pace of US bank lending slowed in the first three months of the year - the second consecutive quarter of such easing - but profits across the industry were higher, a leading bank regulator said on Wednesday. A decline in loan demand could signal weakn
Published 27 May, 2017 12:00am
Poland, Hungary keep loose rate policy, Czechs may tighten

Poland, Hungary keep loose rate policy, Czechs may tighten

Hungary and Poland will keep monetary policy loose through to 2018, shrugging off rising inflation, while the Czech central bank may be the region's first to tighten later this year, rate setters told the Reuters Central & Eastern Europe Investment Summit
Published 27 May, 2017 12:00am
Total stands by new production projects

Total stands by new production projects

French oil giant Total said Friday it plans to go ahead and invest in additional production capacity, even while crude prices are falling in the wake of OPEC's latest output decision. "In raw materials sectors such as ours, the right strategy is to invest
Published 27 May, 2017 12:00am
Kenya Airways says recovery on course as losses reduce
Exchange

Kenya Airways says recovery on course as losses reduce

Kenya Airways Ltd reported a reduction in pretax losses and a return to profit at the operating level on Thursday, after carrying a record number of passengers in the past year, and said it expected a financial restructuring would be completed shortly. Th
Published 27 May, 2017 12:00am
Italy rules out 'bail in' for investors in Veneto banks rescue

Italy rules out 'bail in' for investors in Veneto banks rescue

Italy's economy minister sought to reassure investors on Thursday that they will not be hit in a rescue of two ailing regional banks, Popolare di Vicenza and Veneto Banca, after fears of a full "bail-in" hit the lenders' debt. Italy has been seeking Europ
Published 27 May, 2017 12:00am
Maybank posts 19 percent profit rise on loans growth

Maybank posts 19 percent profit rise on loans growth

Malaysia's largest lender by assets Maybank posted a better-than-expected 19 percent jump in first-quarter net profit as it made more loans in Southeast Asia and as a restructuring of troubled loans last year helped cut its impairment losses. Malaysian ba
Published 27 May, 2017 12:00am
Maybank posts 19 percent profit rise on loans growth

Maybank posts 19 percent profit rise on loans growth

Malaysia's largest lender by assets Maybank posted a better-than-expected 19 percent jump in first-quarter net profit as it made more loans in Southeast Asia and as a restructuring of troubled loans last year helped cut its impairment losses. Malaysian ba
Published 27 May, 2017 12:00am
Harley-Davidson to build assembly plant in Thailand

Harley-Davidson to build assembly plant in Thailand

Harley-Davidson, the iconic motorcycle brand hailed by US President Donald Trump for keeping jobs in America, is building a plant in Thailand, the company confirmed Thursday, as it seeks new buyers in Asia and lower tariffs. The factory - only the third H
Published 27 May, 2017 12:00am
Greek property prices slide again as bailout jitters weigh

Greek property prices slide again as bailout jitters weigh

A downturn in Greece's property market deepened in the first quarter, as uncertainty over its bailout programme and chronic weakness in its banking sector further eroded a traditional pillar of the country's ailing economy. Property accounts for a large c
Published 27 May, 2017 12:00am
Jayawardene named coach of Bangladesh league team

Jayawardene named coach of Bangladesh league team

Former Sri Lanka captain Mahela Jayawardene was Friday named as the head coach of the Bangladesh Premier League (BPL) side Khulna Titans for the next two seasons of the Twenty20 tournament. Jayawardene, who has plied his trade across the globe after takin
Published 27 May, 2017 12:00am
Stokes passed fit for 2nd South Africa ODI

Stokes passed fit for 2nd South Africa ODI

England's Ben Stokes has been passed fit to play in the second one-day international against South Africa, a team spokesman said Friday. The star all-rounder had scans on his left knee after briefly leaving the field during England's 72-run win over the P
Published 27 May, 2017 12:00am
Du Plessis hopes Proteas have 'blown away England cobwebs'

Du Plessis hopes Proteas have 'blown away England cobwebs'

South Africa hope to live up to their reputation as the world's top-ranked one-day international side at Southampton on Saturday after blowing away "cobwebs" in their series-opening defeat by England. Victory put England 1-0 up with two to play and was a
Published 27 May, 2017 12:00am
FIFA admits North Koreans helped build World Cup venue

FIFA admits North Koreans helped build World Cup venue

Football's world governing body FIFA said Friday it had evidence that North Korean workers had been employed on 2018 World Cup venue construction in Russia. A FIFA inspection tour to Saint Petersburg in November uncovered information that workers from the
Published 27 May, 2017 12:00am
Junior Squash Championship: Humam, Ammad, Asad Ullah, Laiba win titles

Junior Squash Championship: Humam, Ammad, Asad Ullah, Laiba win titles

Humam Ahmad, Muhammad Ammad, Asad Ullah and Laiba Ijaz clinched the titles of the KP Junior Age Group Under-11, Under-13 and Under-15 Squash Championship here at PAF Hashim Khan Squash Complex on Friday. Air Marshal Shahid Alvi, Senior Vice President of P
Published 27 May, 2017 12:00am
Rossi on the mend after crash

Rossi on the mend after crash

MotoGP star Valentino Rossi is making "positive progress" from chest and stomach injuries he suffered in a motocross crash, his Yamaha team said on Friday. The 38-year-old Italian is recovering in hospital after a training accident at Mondavio in Pesaro U
Published 27 May, 2017 12:00am
PCB chief for developing new cricket academies

PCB chief for developing new cricket academies

Pakistan Cricket Board (PCB) Chairman Shaharyar M. Khan has emphasized the need of developing new cricket academies around the country. While addressing the annual general meeting (AGM) of the PCB in Lahore, Shaharyar said that efforts were made in bringi
Published 27 May, 2017 12:00am
Sharapova's Wimbledon qualifying bid to be broadcast

Sharapova's Wimbledon qualifying bid to be broadcast

Fans around the world will be able to watch Maria Sharapova's bid to reach Wimbledon with qualifying for the Grand Slam to be broadcast for the first time, it was announced Friday. However, a spokeswoman for the All England Lawn Tennis Club, the tournamen
Published 27 May, 2017 12:00am
WBA suspend judges after disputed N'Dam win

WBA suspend judges after disputed N'Dam win

The World Boxing Association (WBA) has suspended two judges for six months after Frenchman Hassan N'Dam won the middleweight title on a split decision over Japan's Ryota Murata last weekend. N'Dam controversially took the vacant world title in Tokyo on Sa
Published 27 May, 2017 12:00am
Stab-victim Kvitova to play French Open: WTA

Stab-victim Kvitova to play French Open: WTA

Petra Kvitova will play the French Open in what will be her first tournament since being attacked by a knife-wielding burglar in December, the WTA said Friday. "Confirmed: Petra Kvitova will play @rolandgarros. Looking forward to hearing from her in an ho
Published 27 May, 2017 12:00am
Djokovic, Nadal on French Open semi-final collision course
Kerb

Djokovic, Nadal on French Open semi-final collision course

Defending champion Novak Djokovic and Rafael Nadal were drawn to face each other in a blockbuster French Open semi-final on Friday. Nadal is chasing a 10th title at Roland Garros while second seed Djokovic, working with new coach Andre Agassi, is looking
Published 27 May, 2017 12:00am
91 prisoners escape Brazilian jail

91 prisoners escape Brazilian jail

A group of 91 prisoners escaped a jail in northeastern Brazil on Thursday by fleeing through a 30-meter (100-foot) tunnel, Brazilian media said. Nine of the inmates have been found, while police are attempting to catch the remaining 82 who disappeared fro
Published 27 May, 2017 12:00am
US delivers latest vessel to Vietnam

US delivers latest vessel to Vietnam

The US transferred its seventh security vessel this week to Vietnam, the embassy said Friday, boosting defence ties amid a spike in tensions in the South China Sea. The US coast guard gave its Vietnamese counterpart a high endurance cutter in a ceremony i
Published 27 May, 2017 12:00am
Bangladesh removes 'un-Islamic' statue after protests

Bangladesh removes 'un-Islamic' statue after protests

Violent protests broke out Friday in Bangladesh over the removal of a controversial justice statue deemed "un-Islamic" by religious hardliners from outside the Supreme Court, a move its creator said marked a victory for Islamists. Police fired tear gas an
Published 27 May, 2017 12:00am
US-led Syria strike kills scores of relatives of IS fighters

US-led Syria strike kills scores of relatives of IS fighters

Dozens of relatives of Islamic State fighters were killed on Friday in new US-led strikes on Syria, just hours after the UN urged nations striking the jihadists to protect civilians. Bombing raids by the US-led coalition have pounded IS positions across I
Published 27 May, 2017 12:00am
Syria army takes control of Damascus-Palmyra road

Syria army takes control of Damascus-Palmyra road

The Syrian army is in full control of the highway from Damascus to ancient Palmyra for the first time since 2014 after driving out jihadists, a monitor said on Friday. Since troops recaptured Palmyra from the Islamic State group in March, the UNESCO World
Published 27 May, 2017 12:00am
Briton jailed for 15 years for bomb on train

Briton jailed for 15 years for bomb on train

A 20-year-old British man was sentenced to 15 years in prison on Friday for planting a bomb on a busy London Underground train last year in what he claimed was a Halloween prank. Student Damon Smith, who has a form of autism and an obsession with weapons,
Published 27 May, 2017 12:00am
Floods, landslides kill at least 91 in Sri Lanka

Floods, landslides kill at least 91 in Sri Lanka

Flooding and landslides killed at least 91 people and left another 110 missing in Sri Lanka as the monsoon set in Friday, dumping record rainfalls in many parts of the island, authorities said. About 20,000 people were also driven out of their homes in th
Published 27 May, 2017 12:00am
New Taliban attack on Afghan base kills at least 15 soldiers

New Taliban attack on Afghan base kills at least 15 soldiers

At least 15 Afghan soldiers were killed when Taliban fighters attacked their base in Kandahar, officials said Friday, in the third major insurgent assault this week on the military in the southern province. The assault in Shah Wali Kot district late Thurs
Published 27 May, 2017 12:00am
Somali police get first drones to combat Islamist bombings

Somali police get first drones to combat Islamist bombings

A former US intelligence specialist has donated surveillance drones to police in Somalia, aiming to help combat a jump in deadly bombings by al Qaeda-linked Islamist insurgents. The gift comes as US President Donald Trump is increasing military engagement
Published 27 May, 2017 12:00am
Tunisia opens trial over 2015 beach massacre

Tunisia opens trial over 2015 beach massacre

A Tunisian court held its first public hearing Friday in the trial of 26 people in connection with a 2015 jihadist beach massacre that killed dozens of foreign tourists. A student armed with a Kalashnikov assault rifle and grenades went on a rampage in th
Published 27 May, 2017 12:00am
New attack on Egypt Christians kills 28

New attack on Egypt Christians kills 28

Masked gunmen attacked a bus carrying Coptic Christians on a visit to a monastery south of the Egyptian capital on Friday, killing at least 28 people including children, officials said. The assailants in three pick-up trucks attacked the bus as it was hea
Published 27 May, 2017 12:00am
Saudi Telecom to form $500 million venture capital fund

Saudi Telecom to form $500 million venture capital fund

Saudi Arabia''s largest telecommunications firm said Thursday it will set up a $500-million venture capital fund to invest in start-up companies. As part of a wideranging economic diversification plan launched last year, Saudi Arabia is trying to promote
Published 27 May, 2017 12:00am
Saudi Telecom to form $500 million venture capital fund

Saudi Telecom to form $500 million venture capital fund

Saudi Arabia's largest telecommunications firm said Thursday it will set up a $500-million venture capital fund to invest in start-up companies. As part of a wideranging economic diversification plan launched last year, Saudi Arabia is trying to promote s
Published 27 May, 2017 12:00am
Saudi Telecom to form $500 million venture capital fund

Saudi Telecom to form $500 million venture capital fund

Saudi Arabia's largest telecommunications firm said Thursday it will set up a $500-million venture capital fund to invest in start-up companies. As part of a wideranging economic diversification plan launched last year, Saudi Arabia is trying to promote s
Published 27 May, 2017 12:00am
ArcelorMittal tipped to take over Italy's Ilva

ArcelorMittal tipped to take over Italy's Ilva

A consortium led by global steel giant ArcelorMittal is tipped to take over Italy's troubled Ilva steelworks, one of the most polluting industrial sites in Europe, a source told AFP Friday. The choice made by the administrators in charge of Ilva must stil
Published 27 May, 2017 12:00am
Global regulators expect deal soon on finalising capital rules

Global regulators expect deal soon on finalising capital rules

Global regulators will soon finalise a suite of rules to ensure banks across the world hold enough capital to withstand rocky markets without taxpayer aid, one of their top officials said on Thursday. The Basel Committee had hoped for a deal in January, b
Published 27 May, 2017 12:00am
UK consumers downbeat on finances as inflation bites

UK consumers downbeat on finances as inflation bites

The rise in inflation in Britain after the Brexit vote has made households the most downbeat about their finances in more than two years, and the giant services sector is also feeling the impact, surveys showed on Friday. Consumers - whose spending is cru
Published 27 May, 2017 12:00am
Macron snubs May on post-Brexit trade deal talks

Macron snubs May on post-Brexit trade deal talks

France's new President Emmanuel Macron on Friday brushed off Theresa May's request for early talks on a trade deal with the EU after Brexit. As the two held their first official talks on the sidelines of the G7 summit, British Prime Minister May repeated
Published 27 May, 2017 12:00am
Trump rows shadow 'toughest G7 in years'

Trump rows shadow 'toughest G7 in years'

US President Donald Trump, fresh from scolding Europe over military spending, slammed "bad" behaviour in trade by Germany as acrimony dogged the start of annual G7 summit talks on Friday. The controversy threatened to undermine a show of unity by the worl
Published 27 May, 2017 12:00am
Japan consumer prices rise in April

Japan consumer prices rise in April

Japan's consumer prices rose again in April due largely to higher energy bills, data showed Friday, underpinning a mixed picture for policy makers' efforts to boost growth amid on-and-off deflation. The country's prospects have been improving on the back
Published 27 May, 2017 12:00am
IMF sets tough new Ukraine loan demands

IMF sets tough new Ukraine loan demands

The International Monetary Fund said on Friday it will only release a new tranche payment to Ukraine once parliament approves a long-stalled pension system overhaul and land privatisation legislation. The IMF said after completing its latest mission to th
Published 27 May, 2017 12:00am
US economy slowed less than expected in Q1; outlook cloudier

US economy slowed less than expected in Q1; outlook cloudier

The US economy slowed less than initially thought in the first quarter, but softening business investment and moderate consumer spending are clouding expectations of a sharp acceleration in the second quarter. Gross domestic product increased at a 1.2 per
Published 27 May, 2017 12:00am
Cotton down on strong dollar ahead of long weekend
Cotton

Cotton down on strong dollar ahead of long weekend

ICE cotton futures fell in muted trading on Friday, pressured by a stronger dollar and ahead of the US Memorial Day holiday weekend. "The cotton crop in the US is off to an average start on the whole and there are expectations of increased average. A lot
Published 27 May, 2017 12:00am
Shanghai copper up
Exchange

Shanghai copper up

Shanghai Futures Exchange edged up 0.2 percent to 46,000 yuan ($6,708) a tonne on Friday as traders closed out positions ahead of a long weekend. Freeport McMoRan Inc said on Thursday that mining and milling rates at its Grasberg mine in Papua, Indonesia
Published 27 May, 2017 12:00am
Copper retreats from three week high
Exchange

Copper retreats from three week high

Copper pulled back from the previous session's three-week high on Friday as momentum sparked by a strike at one of the world's biggest copper mines, Indonesia's Grasberg, eased ahead of the long weekend break in China, the US and Britain. Freeport McMoRan
Published 27 May, 2017 12:00am
Oil rebounds but ends week lower amid OPEC cuts disappointment

Oil rebounds but ends week lower amid OPEC cuts disappointment

Oil prices rebounded to rise more than 1 percent on Friday, but ended the week nearly 3 percent lower after an OPEC-led decision to extend production curbs did not go as far as many investors had hoped. Trading, however, was light after Thursday's heavy s
Published 27 May, 2017 12:00am
Rubber down
Exchange

Rubber down

Benchmark Tokyo rubber futures touched a two-week low on Friday as oil prices tumbled after an agreement by OPEC and some non-member states to extend existing supply curbs. The Tokyo Commodity Exchange rubber contract for new November delivery debuted at
Published 27 May, 2017 12:00am
'Star Wars' at 40: The Force is still strong

'Star Wars' at 40: The Force is still strong

The date was 1977, and no one had yet worn a copper bikini to bed, made "whooshing" lightsaber noises with a broomstick or yelled "May the Fourth be with you" at strangers.
Published 27 May, 2017 12:00am
Bridge Notes: By that extra care

Bridge Notes: By that extra care

Dummy play in Bridge is never easy if the declarer is unaware of the possible threats to his contract that can come unexpectedly and cause him to lose control. For visualizing the possible distribution of the opponents Cards is the key to a successful dum
Published 27 May, 2017 12:00am
Cannes queen Kidman steers career 'like I'm 21'

Cannes queen Kidman steers career 'like I'm 21'

Nicole Kidman said Monday that she still tackles roles like a 21-year-old after the premiere of her shocking new horror movie at the Cannes film festival.
Published 27 May, 2017 12:00am
'RIP Mr Bond': 007 actor Roger Moore dead at 89

'RIP Mr Bond': 007 actor Roger Moore dead at 89

Actor Roger Moore, who earned international fame playing British secret agent James Bond in seven movies, died of cancer on Tuesday at the age of 89, his family said.
Published 27 May, 2017 12:00am
Indonesian 'Rainbow Village'

Indonesian 'Rainbow Village'

A slum area on Indonesia's Java Island has become an unlikely tourist attraction, as well as a social media hit, after its homes were painted vivid colours to transform the district into what is now being called "Kampung Pelangi" ("Rainbow Village").
Published 27 May, 2017 12:00am
Fashion's feather master tickles up a storm

Fashion's feather master tickles up a storm

Serkan Cura was first tickled by the possibility of feathers when he was just 13. "I found a bird of paradise feather in a street market in Brussels," he said. "It was love at first sight." The thrill has never quite left him.
Published 27 May, 2017 12:00am
Syrian refugee kids in Lebanon act, direct, 'escape'

Syrian refugee kids in Lebanon act, direct, 'escape'

"Three, two, one, action!" shouts Syrian refugee Mostafa Abdallah, 11, energetically directing his fellow child actors in a musical being filmed in a Palestinian camp in the Lebanese capital.
Published 27 May, 2017 12:00am
Synchronizing cultures and people

Synchronizing cultures and people

The people and cultures of Pakistan and Turkey meet at solo photography exhibition of Erkut Onart titled "Turkey and Pakistan - two nations bonded by faith, culture and brotherhood" at Alliance Française de Karachi. Karachiites took the opportunity to dis
Published 27 May, 2017 12:00am
Art Facts: Pay attention

Art Facts: Pay attention

A group exhibition of young artists titled "Unwritten Thoughts" disclosed the imaginations and expectations of our youth at Artchowk Gallery, Karachi. As the title explained that the unregistered and unrecorded ideas and reflections of our young minds wer
Published 27 May, 2017 12:00am
Celebrate healthy Ramazan

Celebrate healthy Ramazan

This year Ramazan is taking place during the long days of summer. The long hours of fasting requires extra preparation of healthy meal plan for sehri and iftar to remain well throughout the holy month.
Published 27 May, 2017 12:00am
Karachi Chronicle: Bank heists

Karachi Chronicle: Bank heists

Within a week there were two bank robberies. On Wednesday 10 May 7.2 million was taken at gunpoint from Soneri Bank branch near do-minute Chowk in the jurisdiction of Khwaja Ajmer Nagri police station, around 10 O'clock the morning. A few days later, the
Published 27 May, 2017 12:00am
Gold eases in NY

Gold eases in NY

Gold eased on Thursday as the dollar came off its lows and world stock markets scaled fresh highs, giving back some gains from the prior session when US Federal Reserve minutes suggested it could be more cautious with interest rate increases. Fed policyma
Published 27 May, 2017 12:00am
Gold rises in Asia

Gold rises in Asia

Gold hit a more than one-week high on Friday, as the dollar retreated and Asian stocks slipped with investors shying away from riskier assets following a tumble in oil prices. Spot gold was up 0.6 percent at $1,262.89 per ounce by 0832 GMT after touching
Published 27 May, 2017 12:00am
Gold climbs in Europe

Gold climbs in Europe

Gold hit its highest in nearly four weeks on Friday as political uncertainty led investors to shun riskier assets in favour of bullion. "We have had the political noise coming from Trump and the US administration and there is a certain element of uncertai
Published 27 May, 2017 12:00am
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