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Apr 11, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-12-17
Bitcoin hits new record high as warnings grow louder
Currency

Bitcoin hits new record high as warnings grow louder

Bitcoin blasted to another all-time high of almost $18,000 on the Bitstamp exchange on Friday, up 9 percent on the day, as warnings grew over the risks of investing in the highly volatile and speculative instrument. The cryptocurrency's staggering recent
Published 17 Dec, 2017 12:00am
Information Technology University's first convocation today

Information Technology University's first convocation today

The Information Technology University (ITU) the Punjab, Pakistan's first focused Research University established in 2012 is holding its first convocation on Sunday December 17, 2017 at 10 am at Burki Road site of the new campus, for the graduation of its
Published 17 Dec, 2017 12:00am
Al-Quds march in Karachi will be historic: JI Chief

Al-Quds march in Karachi will be historic: JI Chief

Chief of Jamaat-e-Islami, Senator Sirajul Haq, has said that the drama going on in capital city was being staged on the direction of the government itself. In a statement here on Saturday, he said that a general attitude of despair in the government circl
Published 17 Dec, 2017 12:00am
Minister acknowledges reforms in Punjab's health sector

Minister acknowledges reforms in Punjab's health sector

Minister of State for National Health Services, Regulations and Coordination Saira Afzal Tarar Saturday acknowledged the reforms initiated by the Punjab government in health sector and said that other provinces should also focus on health sector by follow
Published 17 Dec, 2017 12:00am
Country's economy becoming fragile over time: Dr Pasha

Country's economy becoming fragile over time: Dr Pasha

The economy of Pakistan is going through a roller coaster ride which is becoming fragile over the time, said senior economist Dr Hafeez A Pasha. He was addressing a discussion on "The Economy of Tomorrow", arranged by Fredrick Ebert Stiftung (FES) and Sus
Published 17 Dec, 2017 12:00am
Punjab allows use of drone technology in agriculture sector

Punjab allows use of drone technology in agriculture sector

The Punjab government has allowed use of drone technology in agriculture sector with certain conditions for application of pesticides on crops, monitoring of weeds, pests and nutritional deficiencies. According to a spokesman of the provincial agriculture
Published 17 Dec, 2017 12:00am
International conference on 'Social Sciences and Humanities' concludes

International conference on 'Social Sciences and Humanities' concludes

Scholars of humanities and social science recommended various solutions to the existing problems of world on the third and last day of Three-day International Conference on "Social Sciences and Humanities in the new millennium: Challenges and Prospects",
Published 17 Dec, 2017 12:00am
Terrorism, other crimes considerably declined in KP: Report

Terrorism, other crimes considerably declined in KP: Report

During the outgoing calendar year 2017, the incidents of terrorism and other crimes registered visible decline and situation as compared to last ten years remained peaceful in Khyber Pakhtunkhwa, said annual police report.
Published 17 Dec, 2017 12:00am
Haroon urges maintaining 19 percent revenue growth

Haroon urges maintaining 19 percent revenue growth

Special Assistant to Prime Minister on Revenue Haroon Akhtar Khan has called on the field formations of FBR to maintain the ongoing momentum and ensure the 19 percent growth in the revenue collection. He was addressing a meeting of Chief Commissioners hel
Published 17 Dec, 2017 12:00am
Ufone's Super recharge ups data

Ufone's Super recharge ups data

Ufone has upgraded its 'Super Recharge' offer by increasing the internet volume from 30 MB to 100 MB. This upgrade aims to serve users' increased need of internet data along with enhancing customers' internet experience. Another advantage of the upgrade i
Published 17 Dec, 2017 12:00am
Third anniversary of APS martyrs observed

Third anniversary of APS martyrs observed

Third anniversary of the martyrs of Army Public School (APS) Warsak road, Peshawar was observed in Landi Kotal Khyber Agency with the pledge that every offense against citizens and the country would be foiled jointly. In this connection a gathering was or
Published 17 Dec, 2017 12:00am
PCBC organizes trade show in Montreal

PCBC organizes trade show in Montreal

"Pakistan has a strong industrial base of products, which are exported globally as well as in growing volume into Canada" said Tariq Azim Khan, High Commissioner of Pakistan, while visiting Trade Show and cultural event, organized by Pakistan Canada Busin
Published 17 Dec, 2017 12:00am
Sherpao rejects PTI's demand of snaps-polls

Sherpao rejects PTI's demand of snaps-polls

Chairman Qaumi Watan Party Aftab Ahmad Khan Sherpao has rejected the call for snap-polls, saying that the PTI untimely demand is illogical. He was addressing a public meeting at after an inauguration of the Sui Gas project at Kot Tarnab district Charsadda
Published 17 Dec, 2017 12:00am
Yao Jing appointed ambassador to Pakistan

Yao Jing appointed ambassador to Pakistan

President Xi Jinping has formally appointed a seasoned diplomat Yao Jing as Chinese ambassador to Pakistan. The appointment was made upon approval from the Standing Committee of the National People's Congress, according to a statement by the national legi
Published 17 Dec, 2017 12:00am
Prices of essential kitchen items remain on high side

Prices of essential kitchen items remain on high side

The prices of essential kitchen items remained on high side during this week against the preceding week, a survey conducted by Business Recorder revealed, here on Saturday. The survey observed that prices of most of the vegetables, chicken and frui
Published 17 Dec, 2017 12:00am
Macron criticised for celebrating 40th birthday in royal style

Macron criticised for celebrating 40th birthday in royal style

French President Emmanuel Macron on Saturday celebrated his birthday at the iconic chateau of King Francois I, a choice denounced by critics as an example of how he is "cut off from the people". Macron, who turns 40 on Thursday, is spending the weekend wi
Published 17 Dec, 2017 12:00am
Winds fuel California wildfire, state's third largest on record

Winds fuel California wildfire, state's third largest on record

A raging California wildfire on Saturday became the state's third largest blaze on record, with more devastation possible from a resurgence of the harsh winds that have fueled the deadly fire since the beginning of the month. The so-called Thomas Fire has
Published 17 Dec, 2017 12:00am
Luxottica CEO exits eyewear giant ahead of Essilor merger

Luxottica CEO exits eyewear giant ahead of Essilor merger

Italy's Luxottica has parted ways with its fourth chief executive in three years as Chairman Leonardo Del Vecchio prepares the eyewear group he founded for a planned merger with France's Essilor. Luxottica, the biggest maker of spectacles, agreed in Janua
Published 17 Dec, 2017 12:00am
Turkey court releases seven suspects in New Year attack trial

Turkey court releases seven suspects in New Year attack trial

A Turkish court on Saturday ordered the release of seven suspects in the trial over the deadly New Year attack on an Istanbul nightclub following an initial series of hearings. The court in Silivri outside Istanbul ruled that 44 suspects - including the s
Published 17 Dec, 2017 12:00am
South Africa's troubled ANC meets to elect new leader

South Africa's troubled ANC meets to elect new leader

Thousands of delegates from South Africa's ANC party gathered Saturday for a five-day meeting to elect their new leader in a divisive race seen as a pivotal moment in the country's post-apartheid history. The winner will be well placed to be the next pres
Published 17 Dec, 2017 12:00am
Rahul Gandhi: 'inevitable' heir to India's Congress dynasty

Rahul Gandhi: 'inevitable' heir to India's Congress dynasty

He has never held public office, once likened power to "poison", and saw his politician father and grandmother assassinated. Now Rahul Gandhi has taken over as leader of the party that has ruled India for much of its history. The 47-year-old's unopposed e
Published 17 Dec, 2017 12:00am
Divisive South African coming-of-age film eyes Oscars

Divisive South African coming-of-age film eyes Oscars

A coming-of-age film which explores the taboos around gay love and sex has won plaudits and awards abroad, and is now in the running for an Oscar. But back home in South Africa, the movie is under fire for lifting the veil on secret initiation rites pract
Published 17 Dec, 2017 12:00am
Fatah calls for protests against US VP Jerusalem visit

Fatah calls for protests against US VP Jerusalem visit

Palestinian president Mahmud Abbas's Fatah faction on Saturday called for a massive demonstration next week to protest against a visit to Jerusalem by US Vice President Mike Pence after Washington said it would recognise the holy city as Israel's capital.
Published 17 Dec, 2017 12:00am
WHO certifies Gabon as polio-free

WHO certifies Gabon as polio-free

The World Health Organization has declared Gabon a "polio-free country", given the lack of new reported or suspected cases in the central African country. According to a WHO statement obtained by AFP on Saturday, the UN health agency nonetheless recommend
Published 17 Dec, 2017 12:00am
Mattis emphasizes diplomacy in dealing with Iran

Mattis emphasizes diplomacy in dealing with Iran

US Defense Secretary Jim Mattis said Friday he does not see the need for a stepped-up military posture against Iran, the day after a top diplomat said evidence shows Tehran is supporting Huthi rebels in Yemen. US ambassador to the United Nations Nikki Hal
Published 17 Dec, 2017 12:00am
At 86, Murdoch returns to his roots in news

At 86, Murdoch returns to his roots in news

Rupert Murdoch has always been a newspaperman at heart. And in the twilight of his life, in what The New York Times called his "King Lear moment," the ageing patriarch is carving up his empire and returning to what he knows best.
Published 17 Dec, 2017 12:00am
Cyril Ramaphosa: tycoon, negotiator and South Africa's next leader?

Cyril Ramaphosa: tycoon, negotiator and South Africa's next leader?

Deputy President Cyril Ramaphosa, who is within touching distance of South Africa's top job, previously had his presidential hopes dashed and opted for life in business that brought him spectacular wealth. After failing to clinch the ANC nomination to suc
Published 17 Dec, 2017 12:00am
New Yorkers plead guilty to 'movie-like' bank heists

New Yorkers plead guilty to 'movie-like' bank heists

Four New Yorkers have pleaded guilty to blow-torching their way into bank vaults and making off with more than $5 million in burglaries likened to a Hollywood movie, US officials said Friday. Michael Mazzara, 45, Charles Kerrigan, 42, and Anthony Mascuzzi
Published 17 Dec, 2017 12:00am
US says identified target for sanctions over Myanmar crackdown

US says identified target for sanctions over Myanmar crackdown

The United States has identified one person it might impose sanctions on over the brutal crackdown in Myanmar against minority Rohingya Muslims and is examining others, US Secretary of State Rex Tillerson said on Friday. Tillerson, who last month declared
Published 17 Dec, 2017 12:00am
IS: What happened to all the foreign fighters?

IS: What happened to all the foreign fighters?

An estimated 40,000 people traveled from around the world to take up arms for the Islamic State group as it occupied territory in Syria and Iraq and declared a caliphate in 2014. A few hundred are believed to still be fighting as IS struggles to survive,
Published 17 Dec, 2017 12:00am
England Ashes hopes fade as Smith, Marsh put attack to sword

England Ashes hopes fade as Smith, Marsh put attack to sword

Australian batsmen Steve Smith and Mitchell Marsh put England's attack to the sword on the third day of the third Test in Perth Saturday, leaving the tourists praying for rain to salvage their hopes of retaining the Ashes. The home side took total control
Published 17 Dec, 2017 12:00am
England admit bowling attack flaws as Australia seize control

England admit bowling attack flaws as Australia seize control

England conceded their bowling flaws were savagely exposed as Steve Smith and Mitchell Marsh's relentless batting on day three of the third Test in Perth Saturday left the tourists praying for rain to salvage their Ashes hopes. Australia were 549 for four
Published 17 Dec, 2017 12:00am
'Special' Smith leaves Ashes rivals and teammates in awe

'Special' Smith leaves Ashes rivals and teammates in awe

Rivals and team-mates alike were left in awe of Steve Smith after the world's top-ranked Test batsman hit new heights in the third Ashes match against England at the WACA Ground on Saturday. The Australian captain reached his highest Test score yet with h
Published 17 Dec, 2017 12:00am
Football Asia: South Korea win East Asia title as North restore pride

Football Asia: South Korea win East Asia title as North restore pride

Beanpole striker Kim Shin-Wook fired a quick-fire double as South Korea thrashed fierce rivals Japan 4-1 to capture a fourth East Asian championship title in Tokyo on Saturday. Earlier, forward Jong Il-Gwan scored with a delicious free kick as North Korea
Published 17 Dec, 2017 12:00am
ZTBL to face Master Paints in 'BoP Polo Tournament 2017' final

ZTBL to face Master Paints in 'BoP Polo Tournament 2017' final

Zarai Taraqiati Bank Limited (ZTBL) set main final clash against Master Paints after trouncing Guard Group by 7-1 in the Bank of Punjab (BoP) Polo Tournament 2017 match played here at the Lahore Polo Club (LPC) ground on Saturday.
Published 17 Dec, 2017 12:00am
FIFA threatens to boot Spain out of World Cup

FIFA threatens to boot Spain out of World Cup

The governing body of world football (FIFA) confirmed on Friday that it has written to the Spanish federation (RFEF) warning they could be suspended form the 2018 World Cup because of political interference. Earlier in the day Prime Minister Mariano Rajoy
Published 17 Dec, 2017 12:00am
PU wins 11 gold, four silver medals in 'National Youth Carnival'

PU wins 11 gold, four silver medals in 'National Youth Carnival'

The students of Punjab University have shown outstanding performance in the National Youth Carnival (NYC) 2017 as they clinched 11 gold, 4 silver medals, team trophy and Rs 300, 000 cash award as "National Championship Team".
Published 17 Dec, 2017 12:00am
Rose stays on top

Rose stays on top

England's Justin Rose overcame stormy conditions to retain his clubhouse lead at the Indonesian Masters Saturday before torrential rain and lightning forced play to be abandoned. Tough weather plagued the season-ending Asian Tour event for a second consec
Published 17 Dec, 2017 12:00am
Crescent School wins 'Himont cup inter-school hockey tournament'

Crescent School wins 'Himont cup inter-school hockey tournament'

Crescent School defeated Aitchison College 2-0 in the final of the 'Himont cup inter-school hockey tournament', here at the National Hockey Stadium on Saturday. The well contested final was enjoyed by the spectators including Head Master Aitchison College
Published 17 Dec, 2017 12:00am
Sixth Nazim Peshawar All-KP Badminton Championship begins

Sixth Nazim Peshawar All-KP Badminton Championship begins

The sixth edition of the All Khyber Pakhtunkhwa Men and Women Badminton Championship got under way here at Tariq Wadood Hall Qayyum Sports Complex on Saturday. Chairman, District Govt Sports and Culture Committee Mian Khan was the chief guest on this occa
Published 17 Dec, 2017 12:00am
Kvitova looks on positive side after 'rollercoaster year'

Kvitova looks on positive side after 'rollercoaster year'

Czech tennis star Petra Kvitova says a year on from being the victim of a horrific knife attack she can look to the future positively having successfully returned to the WTA circuit. The 27-year-old two-time Wimbledon champion defied expectations in retur
Published 17 Dec, 2017 12:00am
Alpine skiing: Confident Vonn fires Olympic warning shot

Alpine skiing: Confident Vonn fires Olympic warning shot

Lindsey Vonn put a stuttering start to the season and a backlash over her anti-Trump remarks aside as she stormed to a first World Cup victory in 11 months on Saturday, in a warning shot to Olympic rivals. As one of world sport's most recognisable athlete
Published 17 Dec, 2017 12:00am
C$ slides vs firmer greenback after factory data disappoints
Currency

C$ slides vs firmer greenback after factory data disappoints

The Canadian dollar weakened against its US counterpart on Friday after domestic data showed a surprise drop in factory sales, while the greenback climbed broadly on prospects of a US tax overhaul. Manufacturing sales fell 0.4 percent in October, pulled d
Published 17 Dec, 2017 12:00am
Speculators raise net-short dollar bets to $7.81 billion
Currency

Speculators raise net-short dollar bets to $7.81 billion

Speculators raised their net-short bets on the US dollar to $7.81 billion in the latest week, the 22nd straight week of bearish bets against the US currency, according to data from the Commodity Futures Trading Commision calculated by Reuters. It was the
Published 17 Dec, 2017 12:00am
South Korea bans its banks from dealing in Bitcoin
Currency

South Korea bans its banks from dealing in Bitcoin

South Korea banned its financial institutions from dealing in virtual currencies such as Bitcoin, as the cryptocurrency soars in a bubble fuelled by retail speculators, many of them from the country. The hyper-wired country has emerged as a hotbed for cry
Published 17 Dec, 2017 12:00am
Dollar index firmer as volumes thin ahead of holidays
Currency

Dollar index firmer as volumes thin ahead of holidays

The US dollar rose on Friday as Republican negotiators in the US Congress put the finishing touches on a sweeping tax overhaul, raising expectations that the bill would be passed by year-end. Representative Kevin Brady, chairman of the tax-writing House W
Published 17 Dec, 2017 12:00am
Dollar dips against yen; bitcoin surges again
Currency

Dollar dips against yen; bitcoin surges again

The dollar slipped to a nine-day low against the yen on Friday, after wrangling in the United States Congress over a bill to change the tax code dented confidence that the reforms would be pushed through in their current state. Web-based cryptocurrency bi
Published 17 Dec, 2017 12:00am
Italy's NTV plans to list before national elections

Italy's NTV plans to list before national elections

Italian high-speed rail firm NTV plans an initial public offering (IPO) of its shares before national elections, due early next year, one source close to the matter said on Thursday. Italy's national election is expected to be held on March 4. A second so
Published 17 Dec, 2017 12:00am
Speculators hike bearish bet in arabica coffee to record
Cotton

Speculators hike bearish bet in arabica coffee to record

Speculators hiked bearish bets in arabica coffee on ICE Futures US to a record in the week to Dec. 12, as they switched to a sugar net short position and boosted a bearish stance in cocoa, weekly US government data showed on Friday. The dealers increase a
Published 17 Dec, 2017 12:00am
Gold heads to first weekly gain in four weeks after Fed rate hike

Gold heads to first weekly gain in four weeks after Fed rate hike

Gold prices clung to earlier gains and were poised for their first weekly gain in four weeks on Friday, withstanding pressure from strong equities markets on continued support from this week's interest rate rise by the Federal Reserve.
Published 17 Dec, 2017 12:00am
European gasoline margins fall

European gasoline margins fall

Gasoline refining margins in northwest Europe fell further on Thursday on limited US demand, due to high stocks, but west African demand stopped further losses. After a few relatively low-volume months, west African demand, particularly Nigerian, was pick
Published 17 Dec, 2017 12:00am
Asian naphtha margin rises on firm demand

Asian naphtha margin rises on firm demand

The Asian naphtha margin rose on Thursday on firm demand from Japanese and South Korean petrochemical makers, trade sources said. Indonesia's state-owned Pertamina is seeking 680,000 barrels of 88-octane gasoline for January, a tender document showed.
Published 17 Dec, 2017 12:00am
CBOT corn weakens on ample supplies

CBOT corn weakens on ample supplies

Chicago Board of Trade corn futures closed slightly lower on Thursday. Traders said plentiful supplies following a bumper harvest in the US Midwest limited follow-through buying from Wednesday's gains. But the market felt oversold after hitting contract l
Published 17 Dec, 2017 12:00am
US FOB Gulf corn bids weaker

US FOB Gulf corn bids weaker

Basis bids for corn shipped by barge to the US Gulf weakened on Thursday, with dealers expecting heavy deliveries of previously contracted grain to arrive at river elevators in the coming days. Weak demand on the export market also weighed on corn bids, a
Published 17 Dec, 2017 12:00am
Chinese steel prices fall on slow demand
Exchange

Chinese steel prices fall on slow demand

China's steel futures fell nearly 2 percent on Thursday as demand in the world's top consumer slows over winter along with construction activity, although multi-year low stockpiles capped losses. Prices fell even as fresh data showed China's steel output
Published 17 Dec, 2017 12:00am
Indian rice prices climb; Thailand, Vietnam markets quiet

Indian rice prices climb; Thailand, Vietnam markets quiet

Rice prices in India jumped this week, helped by strengthening demand from Bangladesh, while markets in Thailand and Vietnam remained relatively quiet with lacklustre demand ahead of upcoming year-end holidays. India's 5 percent broken parboiled rice pric
Published 17 Dec, 2017 12:00am
Prices keep rising trend on cotton market
Cotton

Prices keep rising trend on cotton market

Rates maintained rising trend on the cotton market on Saturday owing to persistent uncertainty about the availability of lint cotton, dealers said. The official spot rate gained further momentum by picking up Rs 50 to Rs 7000, they said. Thus, the rate ha
Published 17 Dec, 2017 12:00am
US Plains HRW wheat bids mainly unchanged

US Plains HRW wheat bids mainly unchanged

Hard red winter (HRW) wheat spot basis bids were mainly unchanged on Thursday in the southern US Plains, but edged lower at the Texas Gulf track, said merchants. Bids at the Gulf pulled back, partly because protein premiums came down from where they were
Published 17 Dec, 2017 12:00am
Freight rates to remain firm on port congestion, strong demand
Exchange

Freight rates to remain firm on port congestion, strong demand

Freight rates for large dry cargo ships on key Asian routes could slip next week, although they are expected to remain close to three-year highs amid port congestion and a strong demand for iron ore and coal, brokers said. "We might see rates take a breat
Published 17 Dec, 2017 12:00am
Poor rains in Ivory Coast main cocoa regions

Poor rains in Ivory Coast main cocoa regions

Rains last week in Ivory Coast's main cocoa growing regions were mainly below average but good levels of soil moisture could support the crop if the Harmattan winds remain mild, farmers said on Monday. Ivory Coast, the world's top cocoa producer, is in th
Published 17 Dec, 2017 12:00am
India's November palm oil imports fall to eight-month low
Vegetable Oil

India's November palm oil imports fall to eight-month low

India's palm oil imports dropped nearly 11 percent in November from a year ago to the lowest level in eight months, a trade body said on Thursday, as refiners curtailed purchases due to a hike in import tax. The world's biggest importer of edible oils bou
Published 17 Dec, 2017 12:00am
China's gas output rises to eight-month high

China's gas output rises to eight-month high

China's domestic natural gas output rose 3 percent in November from a year ago to its highest monthly level since March, data on Thursday showed, as producers rushed to boost supplies to meet surging winter heating demand due to Beijing's war on smog. Pro
Published 17 Dec, 2017 12:00am
Vietnam's coffee supply steady; Indonesia subdued

Vietnam's coffee supply steady; Indonesia subdued

Vietnam's coffee supply was steady as good weather supported harvesting but trading was thin, while Indonesian markets were also subdued due to low stocks, traders said on Thursday. Farmers in Vietnam's main coffee-growing province Daklak sold coffee bean
Published 17 Dec, 2017 12:00am
US natural gas futures fall on less heating demand

US natural gas futures fall on less heating demand

US natural gas futures fell on Thursday on forecasts for less heating demand later in December than previously expected and a smaller-than-usual storage draw. The US Energy Information Administration said US utilities pulled just 69 billion cubic feet of
Published 17 Dec, 2017 12:00am
EU wheat prices lower on bearish export outlook
Exchange

EU wheat prices lower on bearish export outlook

European wheat prices were lower on Thursday as abundant global supplies ensured competition in export markets remained tough and the pace of sales lagged last season. March milling wheat, the most active contract on the Paris-based Euronext exchange, was
Published 17 Dec, 2017 12:00am
Airbnb, Spotify among unicorns likely to list in 2018

Airbnb, Spotify among unicorns likely to list in 2018

The 2018 US IPO market is expected to see the debut of some of the most anticipated unicorns - companies that have reached $1 billion in valuation without tapping the stock markets. With stock markets touching new highs every other day, investors are clam
Published 17 Dec, 2017 12:00am
Airbnb, Spotify among unicorns likely to list in 2018

Airbnb, Spotify among unicorns likely to list in 2018

The 2018 US IPO market is expected to see the debut of some of the most anticipated unicorns - companies that have reached $1 billion in valuation without tapping the stock markets. With stock markets touching new highs every other day, investors are clam
Published 17 Dec, 2017 12:00am
Trump's much-touted tax cut on track for passage in US Congress

Trump's much-touted tax cut on track for passage in US Congress

A major tax cut promised by US President Donald Trump was on track for final passage next week, after two previous holdouts in his Republican party said Friday they would vote yes on the legislation. Republicans in both houses of the US Congress, where th
Published 17 Dec, 2017 12:00am
Lexinfintech slashes US IPO size as China reins in micro-lenders

Lexinfintech slashes US IPO size as China reins in micro-lenders

Chinese consumer lending firm Lexinfintech has slashed the size of its US initial public offering by two-thirds to a maximum possible $151.8 million, following a recent crackdown by Beijing on fast-growing online micro-lenders. Lexinfintech, which focuses
Published 17 Dec, 2017 12:00am
Euro zone bond yields may be in for New Year shock as ECB cuts buying

Euro zone bond yields may be in for New Year shock as ECB cuts buying

Euro zone government bond yields are close to multi-month lows just as the European Central Bank is on the verge of cutting its bond-buying scheme by half, leaving some investors worried that a sharp correction may be due in 2018. While bond markets are a
Published 17 Dec, 2017 12:00am
Euro zone bond yields may be in for New Year shock as ECB cuts buying

Euro zone bond yields may be in for New Year shock as ECB cuts buying

Euro zone government bond yields are close to multi-month lows just as the European Central Bank is on the verge of cutting its bond-buying scheme by half, leaving some investors worried that a sharp correction may be due in 2018. While bond markets are a
Published 17 Dec, 2017 12:00am
China stocks regulator approves three IPOs to raise around $560 million

China stocks regulator approves three IPOs to raise around $560 million

China's securities regulator has approved three initial public offerings (IPOs) that aim to raise a combined total of up to 3.7 billion yuan ($559.86 million). One of the approved IPOs is on the Shanghai bourse, one is on the Shenzhen Small & Medium Enter
Published 17 Dec, 2017 12:00am
Brazil's Petrobras raises $1.5 billion with fuel distribution unit

Brazil's Petrobras raises $1.5 billion with fuel distribution unit

State-controlled oil company Petrobras' fuel distribution unit priced its shares at the bottom of the pre-established range for its IPO but still raised 5.02 billion reais ($1.5 billion) in one of Brazil's biggest stock flotations of the year.
Published 17 Dec, 2017 12:00am
Mammoth skeleton sells for nearly 550,000 euros at French auction

Mammoth skeleton sells for nearly 550,000 euros at French auction

The nearly intact skeleton of a woolly mammoth that lived at least 10,000 years ago was sold at auction for more than a half million euros Saturday in the southeastern French city of Lyon. The giant skeleton - mounted in a forward walking position with it
Published 17 Dec, 2017 12:00am
Emerging currencies digest central bank decisions

Emerging currencies digest central bank decisions

Emerging currencies strengthened on Friday but some eyed weekly losses as investors digested a deluge of central bank decisions. The US Federal Reserve's much-anticipated rate hike on Wednesday sounded the starting gun for emerging market central banks to
Published 17 Dec, 2017 12:00am
Big British local authority pensions step up hedge fund bets

Big British local authority pensions step up hedge fund bets

From Essex binmen to Liverpool councillors, government pension schemes in England and Wales are investing more in hedge funds whose bets, sometimes dictated by algorithms, have included exotic holdings such as Puerto Rican debt. Those running local author
Published 17 Dec, 2017 12:00am
Metlife says it failed to pay some pensions

Metlife says it failed to pay some pensions

Metlife Inc failed to pay pensions to potentially tens of thousands of people and will have to strengthen its reserves because of the costs of finding and repaying them, the New York insurer said. Metlife said in a filing on Friday that it believed the gr
Published 17 Dec, 2017 12:00am
Japan firm says it will pay part of salaries in Bitcoin
Currency

Japan firm says it will pay part of salaries in Bitcoin

A Japanese company will start paying part of its employees' salaries in Bitcoin, as it aims to get better understanding of the virtual currency, a spokeswoman said on Friday. GMO Internet, which operates a range of web-related businesses including finance
Published 17 Dec, 2017 12:00am
New Austrian government rules out EU referendum

New Austrian government rules out EU referendum

Austria's new coalition government will not hold a referendum on membership of the European Union, incoming vice-chancellor Heinz-Christian Strache of the far-right Freedom Party (FPOe) said Saturday. The new government wants more Swiss-style "direct demo
Published 17 Dec, 2017 12:00am
Continental has at least 3 billion euros for acquisitions: CFO

Continental has at least 3 billion euros for acquisitions: CFO

Germany's Continental has at least 3 billion euros ($3.53 billion) ready for acquisitions to expand into growing automotive markets led by Asia, Chief Finance Officer Wolfgang Schaefer said in an interview published on Saturday. "The financial scale for a
Published 17 Dec, 2017 12:00am
Turner wins broadcast rights to Chilean soccer

Turner wins broadcast rights to Chilean soccer

US media company Turner Broadcasting has won exclusive rights to broadcast Chilean soccer matches, edging out competitor Fox Sports for the 15-year contract, the local soccer association said late on Friday. Fox had been the favorite to win the contract,
Published 17 Dec, 2017 12:00am
IMF urges Tanzania to reform and spend to stem economic slowdown

IMF urges Tanzania to reform and spend to stem economic slowdown

The International Monetary Fund (IMF) called on Tanzania to speed up reforms and spend more to prevent a slowdown in one of the world's fastest growing economies. President John Magufuli pledged to reform an economy hobbled by red tape and corruption and
Published 17 Dec, 2017 12:00am
Saudi hopes purge will help push to join anti-illicit funding body

Saudi hopes purge will help push to join anti-illicit funding body

Saudi Arabia has high hopes that a campaign of arrests to crack down on corruption will improve its chances of joining the Financial Action Task Force, a global body dedicated to combatting illicit money flows. The kingdom, one of only two G20 nations alo
Published 17 Dec, 2017 12:00am
Japan eyes $46 billion defence budget to counter North Korea

Japan eyes $46 billion defence budget to counter North Korea

Japan plans a record $46 billion defence budget for the next fiscal year to strengthen its missile defence against the threat posed by North Korea, a report said Saturday. The government is expected to set aside 5.19 trillion yen for defence in the countr
Published 17 Dec, 2017 12:00am
Irish economy EU's top performer in third quarter

Irish economy EU's top performer in third quarter

Ireland's economy grew by 4.3 percent in the third quarter of 2017 compared to the previous quarter, making it Europe's top performer, official data showed on Friday. The growth rate was 10.5 percent on a 12-month comparison, the Central Statistics Office
Published 17 Dec, 2017 12:00am
Billionaire founder of Canada drug firm in 'suspicious' death

Billionaire founder of Canada drug firm in 'suspicious' death

Canada's global pharmaceutical giant Apotex has confirmed the death of its billionaire founder Barry Sherman, after police reported two "suspicious" deaths at the couple's upscale Toronto home. Police did not identify the victims, who were found on Friday
Published 17 Dec, 2017 12:00am
Onex-backed Canadian renewables firm Pinnacle set to list

Onex-backed Canadian renewables firm Pinnacle set to list

Wood pellets producer Pinnacle Renewable Energy Inc, owned by Canadian private equity firm Onex Corp, wants to raise about C$175 million ($136 million) through a Toronto initial public offering (IPO), people familiar with the matter told Reuters this week
Published 17 Dec, 2017 12:00am
India's Reliance considers listing telecoms unit Jio by early 2019

India's Reliance considers listing telecoms unit Jio by early 2019

India's Reliance Industries Ltd is holding internal talks about listing its telecoms unit Jio by late 2018 or early 2019, Bloomberg reported on Tuesday, citing people it did not identify. A Reliance spokesman said the article was "speculative", and said t
Published 17 Dec, 2017 12:00am
Dollar rally sets the stage for big IPO year in 2018
Exchange

Dollar rally sets the stage for big IPO year in 2018

A relentless bull-run in US stock indexes this year has set the stage for a strong IPO market in 2018, with several multi-billion dollar firms including Airbnb and Spotify widely expected to grab headlines with their offerings. The S&P 500, the Dow Jones
Published 17 Dec, 2017 12:00am
Wall Street closes at records with tax overhaul in sight

Wall Street closes at records with tax overhaul in sight

Wall Street's three major indexes climbed to record closing highs on Friday with broad-based gains as a long-awaited bill to cut corporate tax rates looked like it would win enough support from lawmakers to pass. US congressional Republicans were expected
Published 17 Dec, 2017 12:00am
What's in the US Republicans' final tax legislation

What's in the US Republicans' final tax legislation

Republicans in the US Congress released a final version of their tax bill on Friday, clearing the way for Senate and House of Representatives votes on the legislation next week. President Donald Trump wants to sign tax legislation before the end of the ye
Published 17 Dec, 2017 12:00am
Fitch lifts Portugal's debt out of junk status

Fitch lifts Portugal's debt out of junk status

Portugal's sovereign debt rating has emerged from junk status as the country moves to bring its fiscal deficit under control, the ratings agency Fitch said Friday. In a statement, Fitch said it was raising the former bailout country's long-term sovereign
Published 17 Dec, 2017 12:00am
Finisar deal helps Apple block rivals' path to AR features

Finisar deal helps Apple block rivals' path to AR features

Apple Inc's $390 million deal with chip supplier Finisar Corp announced on Wednesday helps lock in the supply of a component that Apple believes will play a big role in its future products by bolstering augmented reality features. And because the parts Fi
Published 17 Dec, 2017 12:00am
Qatari dairy company battling Arab boycott to go public next year

Qatari dairy company battling Arab boycott to go public next year

Qatari company Baladna, which is creating a dairy industry in the desert to help the country to cope with a boycott by other Arab states, is planning an initial public offer of its shares (IPO) to raise funds and bring in strategic investors, sources fami
Published 17 Dec, 2017 12:00am
Declining Halal meat exports: APMEA demands incentive package

Declining Halal meat exports: APMEA demands incentive package

The All Pakistan Meat Processors & Exporters Association (APMEA) has urged the government to take notice of reasons behind declining halal meat exports and announce an incentive package for this industry which, if supported, can help national exports taki
Published 17 Dec, 2017 12:00am
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