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Print - 2017-07-31
Economy's performance under Dar

Economy's performance under Dar

Over the past four years any criticism of the prevailing economic policies were dismissed as anti-government or anti-Pakistan by the Ishaq Dar-led Finance Ministry. And selected extracts from reports by multilaterals/rating agencies as well as the handful
Updated 31 Jul, 2017 09:13am
A ray of hope

A ray of hope

Thanks to the efforts of Afghan security forces, two Pakistani diplomats abducted in Afghanistan on June 16 were recovered on Wednesday and handed over to our embassy in Kabul. They were on their way back home from Jalalabad, capital of Afghanistan's east
Published 31 Jul, 2017 12:00am
Economy always matters to our politics
Cotton

Economy always matters to our politics

Political uncertainty impacts on several key macroeconomic indicators but particularly those sectors that relate to private sector activity, a premise that is backed by numerous global examples. Thus it came as no surprise that the immediate upshot of Naw
Published 31 Jul, 2017 12:00am
Four Arab countries say ready for Qatar dialogue with conditions

Four Arab countries say ready for Qatar dialogue with conditions

The four Arab countries which have cut ties with Qatar said on Sunday they were ready for talks to tackle the dispute if Doha showed willingness to deal with their demands The foreign ministers of Bahrain, Saudi Arabia, Egypt and the United Arab Emirates
Published 31 Jul, 2017 12:00am
Four Arab countries say ready for Qatar dialogue with conditions

Four Arab countries say ready for Qatar dialogue with conditions

The four Arab countries which have cut ties with Qatar said on Sunday they were ready for talks to tackle the dispute if Doha showed willingness to deal with their demands The foreign ministers of Bahrain, Saudi Arabia, Egypt and the United Arab Emirates
Published 31 Jul, 2017 12:00am
Indian coast guard makes record 1.5 tonne heroin bust

Indian coast guard makes record 1.5 tonne heroin bust

India's coast guard announced Sunday it had seized 1.5 tonnes of heroin worth almost $550 million from a merchant ship in what maritime authorities are calling their largest-ever drug bust. The ship was intercepted Saturday off the western state of Gujara
Published 31 Jul, 2017 12:00am
Indian coast guard makes record 1.5 tonne heroin bust

Indian coast guard makes record 1.5 tonne heroin bust

India's coast guard announced Sunday it had seized 1.5 tonnes of heroin worth almost $550 million from a merchant ship in what maritime authorities are calling their largest-ever drug bust. The ship was intercepted Saturday off the western state of Gujara
Published 31 Jul, 2017 12:00am
Venezuela vote triggers deadly 'war' in the streets

Venezuela vote triggers deadly 'war' in the streets

Deadly violence erupted around a controversial vote in Venezuela on Sunday, with a candidate in the election and a youth opposition leader gunned down, and troops and protesters attacking each other in Caracas and elsewhere. "I don't know where their hate
Published 31 Jul, 2017 12:00am
Venezuela vote triggers deadly 'war' in the streets

Venezuela vote triggers deadly 'war' in the streets

Deadly violence erupted around a controversial vote in Venezuela on Sunday, with a candidate in the election and a youth opposition leader gunned down, and troops and protesters attacking each other in Caracas and elsewhere. "I don't know where their hate
Published 31 Jul, 2017 12:00am
AJK premier says he stands by what he said

AJK premier says he stands by what he said

Azad Jammu and Kashmir (AJK) Prime Minister Raja Farooq Haider on Sunday clarified his statement that Kashmiris are uncertain about siding with Pakistan after Nawaz Sharif's disqualification, saying he said "so out of concern for the country's situation".
Published 31 Jul, 2017 12:00am
AJK premier says he stands by what he said

AJK premier says he stands by what he said

Azad Jammu and Kashmir (AJK) Prime Minister Raja Farooq Haider on Sunday clarified his statement that Kashmiris are uncertain about siding with Pakistan after Nawaz Sharif's disqualification, saying he said "so out of concern for the country's situation".
Published 31 Jul, 2017 12:00am
US flies bombers over Korean peninsula after North Korea missile test

US flies bombers over Korean peninsula after North Korea missile test

The United States flew two supersonic B-1B bombers over the Korean peninsula in a show of force on Sunday after Pyongyang's recent tests of intercontinental ballistic missiles (ICBM), the US and South Korean Air Forces said. North Korea said it conducted
Published 31 Jul, 2017 12:00am
US flies bombers over Korean peninsula after North Korea missile test

US flies bombers over Korean peninsula after North Korea missile test

The United States flew two supersonic B-1B bombers over the Korean peninsula in a show of force on Sunday after Pyongyang's recent tests of intercontinental ballistic missiles (ICBM), the US and South Korean Air Forces said. North Korea said it conducted
Published 31 Jul, 2017 12:00am
Chinese president inspects troops on military's 90th anniversary

Chinese president inspects troops on military's 90th anniversary

With flybys of advanced new jets and a mass rally of troops, Chinese President Xi Jinping oversaw a large-scale military parade at a remote northern China base on Sunday to mark 90 years since the founding of the People's Liberation Army. China's armed fo
Published 31 Jul, 2017 12:00am
Chinese president inspects troops on military's 90th anniversary

Chinese president inspects troops on military's 90th anniversary

With flybys of advanced new jets and a mass rally of troops, Chinese President Xi Jinping oversaw a large-scale military parade at a remote northern China base on Sunday to mark 90 years since the founding of the People's Liberation Army. China's armed fo
Published 31 Jul, 2017 12:00am
Pollution clouds Gambia's efforts to woo China

Pollution clouds Gambia's efforts to woo China

The Gambia is courting Beijing's attention after re-establishing diplomatic relations last year, but villagers and activists say Chinese investment is a double-edged sword as they fight a firm accused of dumping waste. Chinese firms in Africa are frequent
Published 31 Jul, 2017 12:00am
Trump urges Republican senators not to give up on healthcare
Exchange

Trump urges Republican senators not to give up on healthcare

US President Donald Trump on Sunday urged Republican senators not to give up trying to pass a healthcare bill, after they failed last week to muster enough votes to repeal and replace parts of Obamacare. For the second day running Trump tweeted his impati
Published 31 Jul, 2017 12:00am
Dubai developer Nakheel targets growth in recurring revenue

Dubai developer Nakheel targets growth in recurring revenue

Property developer Nakheel wants recurring income to increase to more than 50 percent of all revenue by 2021 as it opens more shopping malls in Dubai, its chairman told Reuters. Nakheel, the developer of the palm shaped islands in the emirate, expects lea
Published 31 Jul, 2017 12:00am
Sanctions slashed Qatar imports in June, non-gas exports affected

Sanctions slashed Qatar imports in June, non-gas exports affected

Sanctions imposed by three other Gulf states and Egypt slashed Qatar's imports by more than a third in June while exports excluding its vital shipments of liquefied natural gas (LNG) were also disrupted, official data showed on Sunday. Imports shrank 40.0
Published 31 Jul, 2017 12:00am
Bilawal chairs meeting to discuss political situation

Bilawal chairs meeting to discuss political situation

A meeting of Pakistan Peoples Party was held at Zardari House Islamabad chaired by chairman PPP Bilawal Bhutto Zardari on Sunday evening. Prevailing political situation in the country was discussed in the meeting. Bilawal directed opposition leader in Nat
Published 31 Jul, 2017 12:00am
Nawaz given no guard of honour

Nawaz given no guard of honour

Former Prime Minister Nawaz Sharif along with his family left Prime Minister House without receiving any farewell guard of honour, here on Sunday. Instead of going to his Raiwind house, Sharif opted to go to Himalayan foothills Murree - known as Malika-e-
Published 31 Jul, 2017 12:00am
Nawaz given no guard of honour

Nawaz given no guard of honour

Former Prime Minister Nawaz Sharif along with his family left Prime Minister House without receiving any farewell guard of honour, here on Sunday. Instead of going to his Raiwind house, Sharif opted to go to Himalayan foothills Murree - known as Malika-e-
Published 31 Jul, 2017 12:00am
'We've won Naya Pakistan match,' says Imran

'We've won Naya Pakistan match,' says Imran

Paying rich tributes to the apex court judges and six members of the JIT, Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Sunday said that through their verdict and investigation in Panama leaks case, the five-judge bench laid the foundation of 'New
Published 31 Jul, 2017 12:00am
'We've won Naya Pakistan match,' says Imran

'We've won Naya Pakistan match,' says Imran

Paying rich tributes to the apex court judges and six members of the JIT, Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Sunday said that through their verdict and investigation in Panama leaks case, the five-judge bench laid the foundation of 'New
Published 31 Jul, 2017 12:00am
Khaqan puts his best foot forward

Khaqan puts his best foot forward

Pakistan Muslim League-Nawaz's (PML-N) nominee for the post of prime minister Shahid Khaqan Abbasi on Sunday challenged his opponents to prove irregularities in his finances, saying "whoever wants to file a reference against me, he is free to do so".
Published 31 Jul, 2017 12:00am
Khaqan puts his best foot forward

Khaqan puts his best foot forward

Pakistan Muslim League-Nawaz's (PML-N) nominee for the post of prime minister Shahid Khaqan Abbasi on Sunday challenged his opponents to prove irregularities in his finances, saying "whoever wants to file a reference against me, he is free to do so".
Published 31 Jul, 2017 12:00am
''Double taxation'': SHC admits petitions for hearing

''Double taxation'': SHC admits petitions for hearing

Sindh High Court (SHC) on Saturday accepted petitions for hearing. These petitions challenge a newly inserted provision under Section 5-A of Income Tax Ordinance through the Finance Act 2017. The petitioners moved the SHC through their counsel Dr Farogh N
Published 31 Jul, 2017 12:00am
'Double taxation': SHC admits petitions for hearing

'Double taxation': SHC admits petitions for hearing

Sindh High Court (SHC) on Saturday accepted petitions for hearing. These petitions challenge a newly inserted provision under Section 5-A of Income Tax Ordinance through the Finance Act 2017. The petitioners moved the SHC through their counsel Dr Farogh N
Published 31 Jul, 2017 12:00am
'Double taxation': SHC admits petitions for hearing

'Double taxation': SHC admits petitions for hearing

Sindh High Court (SHC) on Saturday accepted petitions for hearing. These petitions challenge a newly inserted provision under Section 5-A of Income Tax Ordinance through the Finance Act 2017. The petitioners moved the SHC through their counsel Dr Farogh N
Published 31 Jul, 2017 12:00am
IDB seeks proposals for dollar Sukuk

IDB seeks proposals for dollar Sukuk

Saudi Arabia''''s Islamic Development Bank (IDB) has asked banks for proposals to arrange a US dollar-denominated sukuk, banking sources said on Sunday. The Jeddah-based multilateral development bank is a regular issuer of international Islamic bonds, whi
Published 31 Jul, 2017 12:00am
IDB seeks proposals for dollar Sukuk

IDB seeks proposals for dollar Sukuk

Saudi Arabia''s Islamic Development Bank (IDB) has asked banks for proposals to arrange a US dollar-denominated sukuk, banking sources said on Sunday. The Jeddah-based multilateral development bank is a regular issuer of international Islamic bonds, which
Published 31 Jul, 2017 12:00am
IDB seeks proposals for dollar Sukuk

IDB seeks proposals for dollar Sukuk

Saudi Arabia's Islamic Development Bank (IDB) has asked banks for proposals to arrange a US dollar-denominated sukuk, banking sources said on Sunday. The Jeddah-based multilateral development bank is a regular issuer of international Islamic bonds, which
Published 31 Jul, 2017 12:00am
IDB seeks proposals for dollar Sukuk

IDB seeks proposals for dollar Sukuk

Saudi Arabia's Islamic Development Bank (IDB) has asked banks for proposals to arrange a US dollar-denominated sukuk, banking sources said on Sunday. The Jeddah-based multilateral development bank is a regular issuer of international Islamic bonds, which
Published 31 Jul, 2017 12:00am
Futures spread up by 1706 basis points

Futures spread up by 1706 basis points

The futures spread increased by 1706bps to 9.01 percent during the week ended on 28th July, 2017. Trading activities on futures counter increased significantly as average daily volumes increased by 201.4 percent to 105.75 million shares. Average daily tra
Published 31 Jul, 2017 12:00am
Futures spread up by 1706 basis points

Futures spread up by 1706 basis points

The futures spread increased by 1706bps to 9.01 percent during the week ended on 28th July, 2017. Trading activities on futures counter increased significantly as average daily volumes increased by 201.4 percent to 105.75 million shares. Average daily tra
Published 31 Jul, 2017 12:00am
Equities recoup losses

Equities recoup losses

The benchmark KSE-100 index increased by 617.64 points to close at 45,912.03 points during the outgoing week ended on July 28, 2017. Trading activities improved as daily trading volumes on ready counter increased by 48.1 percent to 198.35 million shares a
Published 31 Jul, 2017 12:00am
Equities recoup losses

Equities recoup losses

The benchmark KSE-100 index increased by 617.64 points to close at 45,912.03 points during the outgoing week ended on July 28, 2017. Trading activities improved as daily trading volumes on ready counter increased by 48.1 percent to 198.35 million shares a
Published 31 Jul, 2017 12:00am
Equities recoup losses

Equities recoup losses

The benchmark KSE-100 index increased by 617.64 points to close at 45,912.03 points during the outgoing week ended on July 28, 2017. Trading activities improved as daily trading volumes on ready counter increased by 48.1 percent to 198.35 million shares a
Published 31 Jul, 2017 12:00am
THE RUPEE: modest slide

THE RUPEE: modest slide

The rupee somehow managed to resist sharp losses against the dollar during the week when Nawaz Sharif was disqualified by the Supreme Court. In the meantime, other experts said that supply of dollars was good but a kind of panic buying seen following the
Published 31 Jul, 2017 12:00am
THE RUPEE: modest slide

THE RUPEE: modest slide

The rupee somehow managed to resist sharp losses against the dollar during the week when Nawaz Sharif was disqualified by the Supreme Court. In the meantime, other experts said that supply of dollars was good but a kind of panic buying seen following the
Published 31 Jul, 2017 12:00am
Iranian pilgrims return to Hajj after boycott last year

Iranian pilgrims return to Hajj after boycott last year

Nearly 90,000 Iranians are expected to attend the Hajj this year, and were due to start arriving on Sunday, after Tehran boycotted the pilgrimage last year amid tensions with Saudi Arabia. Around 800 pilgrims were due to leave Iran on three flights to Med
Published 31 Jul, 2017 12:00am
Iranian pilgrims return to Hajj after boycott last year

Iranian pilgrims return to Hajj after boycott last year

Nearly 90,000 Iranians are expected to attend the Hajj this year, and were due to start arriving on Sunday, after Tehran boycotted the pilgrimage last year amid tensions with Saudi Arabia. Around 800 pilgrims were due to leave Iran on three flights to Med
Published 31 Jul, 2017 12:00am
PML-N equates Articles 62, 63 with defunct 58 2(b)

PML-N equates Articles 62, 63 with defunct 58 2(b)

Pakistan Muslim League-Nawaz (PML-N) leader Khawaja Saad Rafique on Sunday described the use of words 'godfather' and 'mafia' by the judges of the top court through the course of the Panama case as "humiliation of party". The former railways minister said
Published 31 Jul, 2017 12:00am
PML-N equates Articles 62, 63 with defunct 58 2(b)

PML-N equates Articles 62, 63 with defunct 58 2(b)

Pakistan Muslim League-Nawaz (PML-N) leader Khawaja Saad Rafique on Sunday described the use of words 'godfather' and 'mafia' by the judges of the top court through the course of the Panama case as "humiliation of party". The former railways minister said
Published 31 Jul, 2017 12:00am
The Weather

The Weather

The weather report on Sunday (July 30, 2017) and the forecast for Monday (July 31, 2017).

Published 31 Jul, 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. (July 24 to 28 2017).

Published 31 Jul, 2017 12:00am
Could a green sponge hold cancer-fighting secrets?

Could a green sponge hold cancer-fighting secrets?

A small green sponge discovered in dark, icy waters of the Pacific off Alaska could be the first effective weapon against pancreatic cancer, researchers said on Wednesday. Pancreatic cancer, with particularly aggressive tumors, is notoriously difficult to
Published 31 Jul, 2017 12:00am
Scientists dim sunlight, suck up carbon dioxide to cool planet

Scientists dim sunlight, suck up carbon dioxide to cool planet

Scientists are sucking carbon dioxide from the air with giant fans and preparing to release chemicals from a balloon to dim the sun's rays as part of a climate engineering push to cool the planet. Backers say the risky, often expensive projects are urgent
Published 31 Jul, 2017 12:00am
Even stroke survivors still face risks

Even stroke survivors still face risks

Even stroke survivors who don't experience any immediate complications are still more likely to die or have a heart attack than people who never had a stroke, a recent Canadian study suggests. For the study, researchers examined data on 26,366 adults in t
Published 31 Jul, 2017 12:00am
Sugar not so sweet for mental health

Sugar not so sweet for mental health

Sugar may be bad not only for your teeth and your waistline, but also your mental health, claimed a study on Thursday that was met with scepticism by other experts. Researchers at University College London (UCL) compared the reported sugar intake of more
Published 31 Jul, 2017 12:00am
Injectable AIDS drug may be as effective as pills: study

Injectable AIDS drug may be as effective as pills: study

A two-drug cocktail injected every month or two may be just as effective as a daily pill at keeping the AIDS virus under control, said a study on Monday that promised relief for millions. At present people have no option but to take lifelong, daily doses
Published 31 Jul, 2017 12:00am
Researchers use gene editing on human embryo for first time in US

Researchers use gene editing on human embryo for first time in US

US researchers have successfully carried out gene editing on human embryos using the revolutionary technique known as CRISPR, the first time the procedure has been performed in the US, a report said Thursday. "The effort, led by Shoukhrat Mitalipov of Ore
Published 31 Jul, 2017 12:00am
Samsung facing growing threats despite record profits

Samsung facing growing threats despite record profits

Sprawling South Korean conglomerate Samsung Electronics has recovered from a humiliating recall fiasco and the arrest of its de facto leader with remarkable speed, analysts said, after the tech giant stunned investors with record-breaking profits.
Published 31 Jul, 2017 12:00am
Samsung facing growing threats despite record profits

Samsung facing growing threats despite record profits

Sprawling South Korean conglomerate Samsung Electronics has recovered from a humiliating recall fiasco and the arrest of its de facto leader with remarkable speed, analysts said, after the tech giant stunned investors with record-breaking profits.
Published 31 Jul, 2017 12:00am
Saudi's SABIC reports 25 percent fall in Q2 net profit
Exchange

Saudi's SABIC reports 25 percent fall in Q2 net profit

Saudi Basic Industries Corp (SABIC) missed estimates with a 25 percent fall in second-quarter net profit on Sunday as the world's fourth-largest petrochemicals maker reported higher selling costs and lower sales. Net profit fell to 3.71 billion riyals ($9
Published 31 Jul, 2017 12:00am
Saudi's SABIC reports 25 percent fall in Q2 net profit
Exchange

Saudi's SABIC reports 25 percent fall in Q2 net profit

Saudi Basic Industries Corp (SABIC) missed estimates with a 25 percent fall in second-quarter net profit on Sunday as the world's fourth-largest petrochemicals maker reported higher selling costs and lower sales. Net profit fell to 3.71 billion riyals ($9
Published 31 Jul, 2017 12:00am
Japan to impose emergency tariffs on US frozen beef

Japan to impose emergency tariffs on US frozen beef

Japan will raise tariffs on frozen beef from the United States and other countries from next month as an emergency measure due to increasing shipments, the government said Friday. Tariffs will be raised to 50 percent from the current 38.5 percent on froze
Published 31 Jul, 2017 12:00am
Dubai visitor numbers rise over 10 percent

Dubai visitor numbers rise over 10 percent

The number of foreign tourists visiting Dubai in the first half of 2017 rose by 10.6 percent to 8.06 million, Dubai's tourism department said on Sunday, with the emirate proving particular popular with Indians. Tourism is a key industry for the glitzy Mid
Published 31 Jul, 2017 12:00am
China says construction of PPP projects has entered the 'fast lane'

China says construction of PPP projects has entered the 'fast lane'

China's public-private partnership (PPP) project construction has entered the "fast lane" and will become a unified, standardised, transparent market, a government research office said. As of the end of June, there were 13,554 projects nationwide with inv
Published 31 Jul, 2017 12:00am
Dubai Investments Real Estate signs 1.1 billion dirhams loan deal

Dubai Investments Real Estate signs 1.1 billion dirhams loan deal

Dubai Investments Real Estate Company, a subsidiary of Dubai Investments, has signed a deal for a 1.1 billion dirhams ($299.50 million) loan to develop a residential project in Dubai's Mirdif neighbourhood, the company said on Sunday.
Published 31 Jul, 2017 12:00am
Iran, Iraq moving closer to construction of Kirkuk pipeline

Iran, Iraq moving closer to construction of Kirkuk pipeline

Iran and Iraq are moving closer to building a pipeline that would export crude oil from the northern Iraqi fields of Kirkuk via Iran, Iranian Oil Minister Bijan Zanganeh said on Sunday after meeting his Iraqi counterpart Jabar al-Luaibi, according to the
Published 31 Jul, 2017 12:00am
Shell shuts down Europe's largest refinery after fire

Shell shuts down Europe's largest refinery after fire

The British-Dutch oil giant Shell said it was shutting down Europe's biggest refinery after a pre-dawn fire broke out at a power station on the vast site on Sunday. Flames billowed into the sky over the port of Rotterdam after the blaze erupted at a high-
Published 31 Jul, 2017 12:00am
VW sale of Ducati, Renk units lacks board support

VW sale of Ducati, Renk units lacks board support

Volkswagen's planned sale of motorcycle brand Ducati and transmissions maker Renk has currently no majority backing on the carmaker's supervisory board, with opponents to asset sales feeling invigorated by the group's strong results. Europe's largest auto
Published 31 Jul, 2017 12:00am
Beleaguered Rome faces transport meltdown, puts 5-Star in difficulty

Beleaguered Rome faces transport meltdown, puts 5-Star in difficulty

Rome's transport system is suffocating under debts and should declare bankruptcy, the outgoing head of the public company said at the weekend, piling pressure on the 5-Star Movement which runs city hall. Bruno Rota quit Atac on Friday, just three months a
Published 31 Jul, 2017 12:00am
Gulf ratings diverge as Bahrain, Oman sink, others stabilize

Gulf ratings diverge as Bahrain, Oman sink, others stabilize

Fresh cuts in the debt ratings of Bahrain and Oman underline a growing gap between the weakest Gulf Arab economies and the others - a gap which may not yet be fully reflected in market prices. Moody's downgraded Bahrain by two notches on Friday to B1, fou
Published 31 Jul, 2017 12:00am
Gulf ratings diverge as Bahrain, Oman sink, others stabilize

Gulf ratings diverge as Bahrain, Oman sink, others stabilize

Fresh cuts in the debt ratings of Bahrain and Oman underline a growing gap between the weakest Gulf Arab economies and the others - a gap which may not yet be fully reflected in market prices. Moody's downgraded Bahrain by two notches on Friday to B1, fou
Published 31 Jul, 2017 12:00am
DENSO deploying Visconti 4, latest image-recognition processor

DENSO deploying Visconti 4, latest image-recognition processor

Toshiba Electronic Devices & Storage Corporation on July 26 announced that DENSO Corporation (DENSO) is deploying Visconti 4, its latest image-recognition processor dedicated to automotive applications, in next generation, front-camera-based active safety
Published 31 Jul, 2017 12:00am
Adobe to pull plug on Flash, ending an era

Adobe to pull plug on Flash, ending an era

Adobe Systems Inc's Flash, a once-ubiquitous technology used to power most of the media content found online, will be retired at the end of 2020, the software company announced July 25. Adobe, along with partners Apple Inc, Microsoft Corp, Alphabet Inc's
Published 31 Jul, 2017 12:00am
Smiley faces to rolling eyes: where do all those emojis come from?

Smiley faces to rolling eyes: where do all those emojis come from?

Cheery Hi-5, a snobbish Poop and a conflicted Meh have starring roles in the animated "The Emoji Movie," which imagines a world inside cellphones where emojis rebel against portraying just one emotion all their lives. Yet the dozen or so people who select
Published 31 Jul, 2017 12:00am
Zong 4G, LePhone launch most affordable line of 4G handsets

Zong 4G, LePhone launch most affordable line of 4G handsets

Zong 4G, Pakistan's No 1 4G network, has collaborated with LePhone to launch affordable 4G handsets in Pakistan. Under this partnership, 3 variants of LePhone's 4G handsets W7+, W11 and W12 have been launched in an elegant event hosted at Zong 4G's flagsh
Published 31 Jul, 2017 12:00am
Microsoft keeps Paint in its software palette

Microsoft keeps Paint in its software palette

Microsoft put out word that it would not abandon Paint after reports of its pending demise triggered a deluge of lament from fans of the pioneering drawing application. "We've seen an incredible outpouring of support and nostalgia around MS Paint," Window
Published 31 Jul, 2017 12:00am
SK Hynix posts 'best-ever' quarterly profit

SK Hynix posts 'best-ever' quarterly profit

South Korean chipmaker SK Hynix posted record profits in the second quarter of the year, the company said on Tuesday, as strong demand for its memory chips used in PCs and computer servers drove up prices. The Apple supplier's best-ever quarterly figures
Published 31 Jul, 2017 12:00am
SK Hynix posts 'best-ever' quarterly profit

SK Hynix posts 'best-ever' quarterly profit

South Korean chipmaker SK Hynix posted record profits in the second quarter of the year, the company said on Tuesday, as strong demand for its memory chips used in PCs and computer servers drove up prices. The Apple supplier's best-ever quarterly figures
Published 31 Jul, 2017 12:00am
Alphabet profit hit by EU fine on Google

Alphabet profit hit by EU fine on Google

Google parent Alphabet on Monday saw shares slide as the market reacted to a massive fine by the European Commission and word that success in mobile, cloud and YouTube is coming with higher costs. Alphabet reported a quarterly profit of $3.5 billion, in a
Published 31 Jul, 2017 12:00am
Alphabet profit hit by EU fine on Google

Alphabet profit hit by EU fine on Google

Google parent Alphabet on Monday saw shares slide as the market reacted to a massive fine by the European Commission and word that success in mobile, cloud and YouTube is coming with higher costs. Alphabet reported a quarterly profit of $3.5 billion, in a
Published 31 Jul, 2017 12:00am
India's Maruti misses estimates

India's Maruti misses estimates

India's top-selling car maker Maruti Suzuki India on Thursday missed its quarterly earnings estimate owing to a jump in expenses caused by a new nationwide tax rolled out earlier this month. Net profit for the three months to June 30 rose to 15.56 billion
Published 31 Jul, 2017 12:00am
India's Maruti misses estimates

India's Maruti misses estimates

India's top-selling car maker Maruti Suzuki India on Thursday missed its quarterly earnings estimate owing to a jump in expenses caused by a new nationwide tax rolled out earlier this month. Net profit for the three months to June 30 rose to 15.56 billion
Published 31 Jul, 2017 12:00am
Hyundai Motor posts smallest quarterly net profit in five years

Hyundai Motor posts smallest quarterly net profit in five years

Hyundai Motor posted its smallest quarterly net profit in five years, falling dismally short of estimates, and warned the second half of 2017 would be challenging as political headwinds hit sales in China and slow US demand continues. The South Korean fir
Published 31 Jul, 2017 12:00am
Hyundai Motor posts smallest quarterly net profit in five years

Hyundai Motor posts smallest quarterly net profit in five years

Hyundai Motor posted its smallest quarterly net profit in five years, falling dismally short of estimates, and warned the second half of 2017 would be challenging as political headwinds hit sales in China and slow US demand continues. The South Korean fir
Published 31 Jul, 2017 12:00am
Caterpillar smashes Wall Street's profit estimates

Caterpillar smashes Wall Street's profit estimates

Caterpillar Inc smashed Wall Street's profit estimates and raised its full-year forecast for the second time, driven by improving demand in China and a recovery in mining activity. Shares of the world's largest construction and mining equipment maker rose
Published 31 Jul, 2017 12:00am
Caterpillar smashes Wall Street's profit estimates

Caterpillar smashes Wall Street's profit estimates

Caterpillar Inc smashed Wall Street's profit estimates and raised its full-year forecast for the second time, driven by improving demand in China and a recovery in mining activity. Shares of the world's largest construction and mining equipment maker rose
Published 31 Jul, 2017 12:00am
Petronas drops massive natural gas project in Canada

Petronas drops massive natural gas project in Canada

Petronas said on Tuesday it was pulling out of its Can$36 billion ($28.8 billion US) liquefied natural gas exporting project on Canada's west coast long opposed by environmentalists and native rights activists. The Pacific NorthWest LNG project was greenl
Published 31 Jul, 2017 12:00am
Nakheel reports 22 percent decline in Q2 net profit

Nakheel reports 22 percent decline in Q2 net profit

Dubai developer Nakheel reported on Wednesday a 22 percent decline in second quarter net profit, according to Reuters calculations. Nakheel made a profit of 1.16 billion dirhams ($315.8 million) in the three months to June 30, compared to 1.48 billion dir
Published 31 Jul, 2017 12:00am
Nakheel reports 22 percent decline in Q2 net profit

Nakheel reports 22 percent decline in Q2 net profit

Dubai developer Nakheel reported on Wednesday a 22 percent decline in second quarter net profit, according to Reuters calculations. Nakheel made a profit of 1.16 billion dirhams ($315.8 million) in the three months to June 30, compared to 1.48 billion dir
Published 31 Jul, 2017 12:00am
Al Rajhi Bank's profits rise 6.3 percent

Al Rajhi Bank's profits rise 6.3 percent

Al Rajhi Bank, Saudi Arabia's second-largest bank by assets, on Monday reported a 6.3 percent rise in second-quarter net profit, meeting analysts' forecasts. The bank made 2.18 billion riyals ($581.3 million) in the three months to June 30, up from 2.05 b
Published 31 Jul, 2017 12:00am
Al Rajhi Bank's profits rise 6.3 percent

Al Rajhi Bank's profits rise 6.3 percent

Al Rajhi Bank, Saudi Arabia's second-largest bank by assets, on Monday reported a 6.3 percent rise in second-quarter net profit, meeting analysts' forecasts. The bank made 2.18 billion riyals ($581.3 million) in the three months to June 30, up from 2.05 b
Published 31 Jul, 2017 12:00am
UAE banks profit to grow about five percent in second-half

UAE banks profit to grow about five percent in second-half

Banks in the United Arab Emirates will post profit growth of around 5 percent in the second half of 2017, similar to the first six months as bad loans ease and lenders weather the Qatar crisis, the head of a local industry group said. Of the five major ba
Published 31 Jul, 2017 12:00am
Foreign rupee limit poses new threat to Indian high-yield bonds
Libor

Foreign rupee limit poses new threat to Indian high-yield bonds

Three years after stirring controversy, an offshore financing structure pioneered by Indian renewable energy producer Greenko Energy Holdings is now under threat as foreign investors near their quota limits on rupee bonds. Greenko last Monday sold $1 bill
Published 31 Jul, 2017 12:00am
Foreign rupee limit poses new threat to Indian high-yield bonds
Libor

Foreign rupee limit poses new threat to Indian high-yield bonds

Three years after stirring controversy, an offshore financing structure pioneered by Indian renewable energy producer Greenko Energy Holdings is now under threat as foreign investors near their quota limits on rupee bonds. Greenko last Monday sold $1 bill
Published 31 Jul, 2017 12:00am
With Czech central bank signaling hike, money market hesitates
Exchange

With Czech central bank signaling hike, money market hesitates

The Czech central bank is flagging the first interest rate hike in more than nine years in August or September, but large sections of the market don't believe it. The view has been that a firmer crown and loose European Central Bank policy will stay Pragu
Published 31 Jul, 2017 12:00am
Poor Q2 earnings dent Saudi Arabia index in weak region

Poor Q2 earnings dent Saudi Arabia index in weak region

Disappointing second-quarter results from large cap Saudi Arabian companies were the main drag on the local index on Sunday, while neighbouring bourses were mostly weak. The Riyadh index fell 0.8 percent as the largest petrochemical maker Saudi Basic Indu
Published 31 Jul, 2017 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Inter-bank buy/sell rates for the taka against the dollar on Sunday. 80.66-80.66 (previous 80.65-80.66).
Published 31 Jul, 2017 12:00am
China's money rates rise on month-end seasonal factors

China's money rates rise on month-end seasonal factors

China's primary money market rates were up slightly for the week driven by seasonal factors, despite the central bank's net injection of funds. The volume-weighted average rate of the benchmark seven-day repo traded in the interbank market, considered the
Published 31 Jul, 2017 12:00am
Investment focus: high-flying euro may run into rough weather

Investment focus: high-flying euro may run into rough weather

The euro is the year's best-performing major currency against the dollar, but a shrinking interest-rate advantage and the weight of the bets on the single currency are making a retreat ever more likely. The euro reached its highest point since January 201
Published 31 Jul, 2017 12:00am
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