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Mar 16, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2018-02-19
Raise in private schools' tuition fee irks parents

Raise in private schools' tuition fee irks parents

The tuition fee hike by private educational institutions in federal capital is adding to the woes of parents of students of these schools, apparently due to lack of mechanism or check. Talking to APP, the parents have demanded the authorities concerned to
Published 19 Feb, 2018 12:00am
Five PSDP-funded projects worth Rs 688 million implemented

Five PSDP-funded projects worth Rs 688 million implemented

Small and Medium Enterprises Development Authority (SMEDA) during financial year 2016-17 implemented five (5) projects financed by the Public Sector Development Program (PSDP) at a cost of Rs 688.35 million, said annual report of the authority.
Published 19 Feb, 2018 12:00am
Number of cellphone subscribers touches 145 million mark

Number of cellphone subscribers touches 145 million mark

The cellular subscribers have been reached 145 million with teledensity of 71.42%, as a result of initiatives taken by ministry of Information Technology and Telecommunication. The 3G/4G subscribers have been reached 48 billion out of 145 million mobile u
Published 19 Feb, 2018 12:00am
Kasana Dam's land cost paid

Kasana Dam's land cost paid

The authorities concerned have paid cost of land measuring 667 acre to construct Kasana Dam which would be constructed during current financial year in order to meet water needs of new Islamabad Airport. The cost of land for the dam, having capacity of 8.
Published 19 Feb, 2018 12:00am
Dearth of female driving schools in Islamabad

Dearth of female driving schools in Islamabad

The females aspiring to learn driving in federal capital are facing problems as there is shortage of driving schools in the city and few of those providing training are charging high fees making it unaffordable for most of the women. The females wanting t
Published 19 Feb, 2018 12:00am
Prices of essential items witness mixed trend

Prices of essential items witness mixed trend

Prices of essential kitchen items witnessed a mixed trend during the past week as compared to the preceding week, according to a survey conducted by Business Recorder, here on Sunday. The retail market survey revealed tomato is being sold at Rs 30 per kil
Published 19 Feb, 2018 12:00am
Need to promote Kohistani language, culture stressed

Need to promote Kohistani language, culture stressed

A conference, arranged here by the Gandhara Hindko Board (GHB) at the Gandhara Hindko Academy (GHA), demanded of the Khyber Pakhtunkhwa government to take steps for promotion of the Kohistani language and culture. The demand was made through a number of r
Published 19 Feb, 2018 12:00am
Fisheries not on government's priority list, opines expert
Exchange

Fisheries not on government's priority list, opines expert

Omar Hayat, an expert on fisheries and environment, has said that fish production from capture fisheries is stagnant in the marine sector, rather in decline, affecting exports due to over fishing, depletion of coastal fish stocks and competition between s
Published 19 Feb, 2018 12:00am
2018 polls to bring a sea change in Sindh, claims GDA

2018 polls to bring a sea change in Sindh, claims GDA

The general elections of 2018 would bring a sea change in Sindh as the masses of this province are fed up with the corruption mafia, said leaders of Grand Democratic Alliance (GDA), addressing a big rally here on Sunday. They said their anti-PPP alliance
Published 19 Feb, 2018 12:00am
Six people killed as bridge caves in

Six people killed as bridge caves in

As many as six persons were killed and two other injured when a under construction bridge in Shin Dhand area of FR Kohat suddenly caved in, an official police control Kohat confirmed. According to details, laborer were busy in their work on newly under co
Published 19 Feb, 2018 12:00am
FC Balochistan arrests five suspected terrorists

FC Balochistan arrests five suspected terrorists

Frontier Corps (FC) Balochistan on Sunday conducted intelligence based operations (IBOs) in various areas and apprehended five suspected terrorists. The operations were carried out in Bostan, Dera Murad Jamali, Sibi, Pishin Lehri and Chathar areas of Balo
Published 19 Feb, 2018 12:00am
CoAS grieved

CoAS grieved

Chief of Army Staff (CoAS) General Qamar Javed Bajwa has expressed his condolences on the loss of lives in tragic Iranian plane crash, informed Pakistan Armed Forces spokesperson Major General Asif Ghafoor. All 66 passengers and crew aboard a plane that c
Published 19 Feb, 2018 12:00am
OUP Pakistan publishes book to pay tributes to Dr Adeeb Rizvi

OUP Pakistan publishes book to pay tributes to Dr Adeeb Rizvi

The Oxford University Press (OUP) Pakistan has published a book on life and successes of Director of the Sindh Institute of Urology and Transplantation (SIUT), Dr Syed Adeebul Hasan Rizvi to pay tributes to his services. The OUP Book describes different a
Published 19 Feb, 2018 12:00am
German envoy urges youth to acquire modern skills

German envoy urges youth to acquire modern skills

Pakistani youth must be equipped with most modern and latest vocational skills to make its products compatible with the international standard, said Dr Jens Jokisch, Deputy Head of Mission at the German Embassy.
Published 19 Feb, 2018 12:00am
Over 11.4 million cotton bales reach ginneries
Cotton

Over 11.4 million cotton bales reach ginneries

The seed cotton (Phutti) equivalent to 11.4 million bales have reached ginneries across the country till February 15, 2018, registering an increase by 7.49 per cent compared to corresponding period of last year. According to a fortnightly report of Pakist
Published 19 Feb, 2018 12:00am
Nestlé Purina launched for pet lovers

Nestlé Purina launched for pet lovers

In collaboration with Labrador Retriever Club of Pakistan, Nestlé launched one of its worlds renowned pet food brand by the name of Nestlé Purina. This is the first time ever that an internationally renowned premium pet food brand will be launched in Paki
Published 19 Feb, 2018 12:00am
JUI-F Punjab president passes away

JUI-F Punjab president passes away

Prominent religious scholar and President Jamiat Ulema-e-Islam (F) Punjab, Maulana Rasheed Ludhianvi passed away in Rahimyar Khan on Sunday at the age of 73 years. He left behind three sons and two daughters and a widow.
Published 19 Feb, 2018 12:00am
PSP's 90 percent workers willing to join MQM-P, claims Sabzwari

PSP's 90 percent workers willing to join MQM-P, claims Sabzwari

MQM-Pakistan leader Faisal Sabzwari made tall claims on Saturday when he said that ninety-percent of PSP workers and supporters were in contact with his party's leadership and were ready to jump ship. Speaking to media personnel, the veteran MQM-Pakistan
Published 19 Feb, 2018 12:00am
PICIIP important initiative for composite development: ADB official

PICIIP important initiative for composite development: ADB official

Punjab Intermediate Cities Improvement Investment Program (PICIIP) is an important initiative for composite development of Sialkot, Sahiwal, Rahim Yar Khan, Bahawalpur, Sargodha and Muzaffargarh districts. This was stated by Asian Development Bank's princ
Published 19 Feb, 2018 12:00am
PICIIP important initiative for composite development: ADB official

PICIIP important initiative for composite development: ADB official

Punjab Intermediate Cities Improvement Investment Program (PICIIP) is an important initiative for composite development of Sialkot, Sahiwal, Rahim Yar Khan, Bahawalpur, Sargodha and Muzaffargarh districts. This was stated by Asian Development Bank's princ
Published 19 Feb, 2018 12:00am
Karachi will present a new look in May: Murad

Karachi will present a new look in May: Murad

Sindh Chief Minister Syed Murad Ali Shah has said that terrorism was an international issue and still it is rife even in America but "We have successfully eliminated it through our political will and with the support of people of Pakistan, particularly of
Published 19 Feb, 2018 12:00am
Bilawal meets Senate candidates

Bilawal meets Senate candidates

Candidates nominated by the Pakistan Peoples Party for the Senate from Sindh called on the Chairman Bilawal Bhutto Zardari at Bilawal House Sunday. President PPP Ladies Wing MNA Faryal Talpur, Leader of the Opposition in the National Assembly Khursheed Ah
Published 19 Feb, 2018 12:00am
CJP appealed to consider Memon's case sympathetically

CJP appealed to consider Memon's case sympathetically

Sindh Minister for Information, Labour, Transport, Mass Transit & Human Resources Syed Nasir Hussain Shah has appealed the Chief Justice of Pakistan (CJP) Justice Mian Saqib Nisar to sympathetically consider the case of former information minister Sharjee
Published 19 Feb, 2018 12:00am
Lord Nazir warns of grave repercussions if FATF adopts US's motion

Lord Nazir warns of grave repercussions if FATF adopts US's motion

Member British parliament Lord Nazir Ahmed on Saturday warned of serious repercussions if Pakistan is placed on global terror-financing watchlist of Financial Action Task Force (FATF). Nazir stated that flow of Foreign Direct Investment would suffer a maj
Published 19 Feb, 2018 12:00am
Filling stations: managers held for overcharging

Filling stations: managers held for overcharging

District administration arrested the managers of six filling stations for overcharging in the prices of petrol and diesel in Peshawar. The raids were conducted on public complaints received by the Deputy Commissioner (DC) Peshawar, Islamzeb, who directed
Published 19 Feb, 2018 12:00am
Trump says Russia succeeding in sowing US discord

Trump says Russia succeeding in sowing US discord

President Donald Trump acknowledged Sunday that Russia was succeeding beyond its "wildest dreams" in sowing discord within the US but once more refrained from directly challenging Moscow over its election meddling. In a mash of tweets, Trump blamed former
Published 19 Feb, 2018 12:00am
18 killed in massive explosion at Indian wedding

18 killed in massive explosion at Indian wedding

Rescuers discovered nine more bodies Sunday beneath the ruins of a Indian hotel, bringing the known death toll from an explosion which tore through a wedding party to 18, an official said. A gas cylinder exploded late Friday at the hotel in the city of Be
Published 19 Feb, 2018 12:00am
Brazil's Temer announces new security ministry

Brazil's Temer announces new security ministry

Brazilian President Michel Temer has announced the creation of a public security ministry after giving the military full control over security in crime-plagued Rio de Janeiro. Temer came to the city to meet Governor Luiz Fernando Pezao, several ministers
Published 19 Feb, 2018 12:00am
Canada's Trudeau begins India trip with Taj Mahal visit

Canada's Trudeau begins India trip with Taj Mahal visit

Canadian Prime Minister Justin Trudeau on Sunday toured the Taj Mahal with his wife and children as he began a week-long visit to promote trade and investment with India. Trudeau, his wife Sophie Gregoire and their three children posed for a family portra
Published 19 Feb, 2018 12:00am
Clashes leave 27 dead as Yemen troops target Al-Qaeda

Clashes leave 27 dead as Yemen troops target Al-Qaeda

Eight soldiers and 19 suspected members of Al-Qaeda were killed in Yemen on Sunday, as the army launched an offensive against key outposts of the extremists, a military official said. General Faraj al-Bahsani, governor of Hadramawt province, told AFP the
Published 19 Feb, 2018 12:00am
Iraqi court convicts 'duped' IS foreign widows

Iraqi court convicts 'duped' IS foreign widows

A court in the Iraqi capital on Sunday sentenced to death a Turkish woman and 11 other foreign widows to life in jail for belonging to the Islamic State group. The 12 women, 11 Turks and an Azeri, some of whom appeared in the dock nursing infants, were co
Published 19 Feb, 2018 12:00am
Burkina filmmaker Ouedraogo dies

Burkina filmmaker Ouedraogo dies

Burkinabe filmmaker Idrissa Ouedraogo, a towering figure in African cinema, died Sunday at the age of 64, the national film makers guild announced in a statement. Ouedraogo produced or directed some 40 films from the 1980s to the 2000s, set in Africa and
Published 19 Feb, 2018 12:00am
Alpine avalanche kills father, daughter

Alpine avalanche kills father, daughter

A father, 43, and his 11-year-old daughter died Sunday when an avalanche swept them away while they were skiing in the French Alps, rescue officials said. They said the pair hailing from the Paris region had been skiing on a slope in the Pisaillas glacier
Published 19 Feb, 2018 12:00am
Turkey denies allegation of chemical attack in Syria

Turkey denies allegation of chemical attack in Syria

Turkey never used chemical weapons in its operations in Syria, and takes the utmost care of civilians, its foreign minister said, after Syrian Kurdish forces and a monitoring group accused it of carrying out a gas attack in Syria's Afrin region.
Published 19 Feb, 2018 12:00am
Kurd militia says three foreign members killed in Syria

Kurd militia says three foreign members killed in Syria

The Kurdish People's Protection Units (YPG) said Sunday that three of its foreign members were killed in Syria, including two in the northern enclave of Afrin. The Kurdish militia, the backbone of a US-backed force that has fought the Islamic State group,
Published 19 Feb, 2018 12:00am
Syria forces ready for assault on rebel enclave

Syria forces ready for assault on rebel enclave

Syrian forces readied Sunday for a ground offensive against the rebel-held enclave of Eastern Ghouta outside Damascus, a monitor said, as residents of the capital braced for retaliatory shelling. President Bashar al-Assad has in recent days been sending r
Published 19 Feb, 2018 12:00am
Thousands of Saakashvili supporters march in Kiev

Thousands of Saakashvili supporters march in Kiev

Thousands of supporters of deported former Georgian leader Mikheil Saakashvili marched through the streets of Kiev on Sunday, demanding the impeachment of the Ukrainian President. An AFP correspondent saw some 10,000 people taking part in the rally, thoug
Published 19 Feb, 2018 12:00am
For now, US wants Europeans just to commit to improve Iran deal

For now, US wants Europeans just to commit to improve Iran deal

The United States has sketched out a path under which three key European allies would simply commit to try to improve the Iran nuclear deal over time in return for US President Donald Trump keeping the pact alive by renewing US sanctions relief in May.
Published 19 Feb, 2018 12:00am
Hirscher rules slopes as Russian doping spectre returns

Hirscher rules slopes as Russian doping spectre returns

Marcel Hirscher claimed his second Pyeongchang Winter Olympics ski title on Sunday as a doping case involving a Russian curler threatened to cast a fresh shadow over the Games. While America's Mikaela Shiffrin and Lindsey Vonn licked their wounds, the Aus
Published 19 Feb, 2018 12:00am
Japan's Kodaira stuns Korean champ to win speed skate gold

Japan's Kodaira stuns Korean champ to win speed skate gold

World champion Nao Kodaira shook off the pressure of the biggest race of her life Sunday to become Japan's first female Olympic speed-skating gold medallist by capturing the 500m title. Coming off a silver-medal 1,000m effort, Kodaira dethroned two-time d
Published 19 Feb, 2018 12:00am
Fourcade makes French Olympic history

Fourcade makes French Olympic history

Martin Fourcade wrote himself into the French history books with a second biathlon gold at the Pyeongchang Olympics on Sunday, snatching victory by a whisker in a dramatic photo finish. The 29-year-old also won the pursuit title on Monday to add to his tw
Published 19 Feb, 2018 12:00am
Humam sets record in winning Snow Hiking and Trekking title

Humam sets record in winning Snow Hiking and Trekking title

Out of 300 participants, a promising 12-year-old Humam Ahmad of Khyber Pakhtunkhwa created a new national record by winning National Snow Hiking and Trekking Championship organized jointly by Directorate of Sports KP and the Alpine Club of Pakistan at hil
Published 19 Feb, 2018 12:00am
Kohli limps off as India beat South Africa

Kohli limps off as India beat South Africa

Virat Kohli limped off the field before India completed another dominant performance over South Africa in the first Twenty20 international at the Wanderers Stadium on Sunday. Shikhar Dhawan and Bhuvneshwar Kumar were mainly responsible for India's 28-run
Published 19 Feb, 2018 12:00am
New world No 1 Federer wins Rotterdam for 97th title

New world No 1 Federer wins Rotterdam for 97th title

Roger Federer celebrated his return to the top of the world rankings by winning the Rotterdam Open on Sunday, his 97th career title. The 36-year-old, the oldest No.1 in history, thrashed Bulgarian Grigor Dimitrov 6-2, 6-2 in a one-sided final.
Published 19 Feb, 2018 12:00am
Nadir Magsi wins Cholistan Jeep Rally again

Nadir Magsi wins Cholistan Jeep Rally again

Nadir Magsi has successfully defended winning trophy of 13th Cholistan Desert jeep Rally for second consecutive year. He finished the track in four hours 32 minutes and nine seconds. Sahibzada Sultan remained runner up with tie of four hours 37 minutes an
Published 19 Feb, 2018 12:00am
Rizvi's/Master Paints win Spring Polo Cup

Rizvi's/Master Paints win Spring Polo Cup

Juan Cruz Losada and Hamza Khan once again excelled in Rizvi's/Master Paints title win over Army Whites in the Spring Polo Cup 2018 main final played here at the Lahore Polo Club (LPC) ground on Sunday. Both Losada and Hamza amused the huge crowd with the
Published 19 Feb, 2018 12:00am
Arif Habib group hosts reception to honour Karachi Kings

Arif Habib group hosts reception to honour Karachi Kings

Arif Habib group hosted a reception in honour of the Karachi Kings' players on Sunday before the team left for Dubai to play the season 3 of Pakistan Super League (PSL) under the captaincy of young all-rounder Imad Waseem. Sindh Chief Minister Syed Murad
Published 19 Feb, 2018 12:00am
Mendis drives Sri Lanka to T20 series sweep

Mendis drives Sri Lanka to T20 series sweep

Opener Kusal Mendis hit a blazing half-century as Sri Lanka thrashed Bangladesh by 75 runs in the second Twenty20 international to complete a 2-0 series sweep on Sunday. Sri Lanka rode on Mendis' 70 off 42 deliveries to post 210-4 and then bowled out the
Published 19 Feb, 2018 12:00am
New Zealand in T20 tri-series final despite defeat to England

New Zealand in T20 tri-series final despite defeat to England

An aggressive Colin Munro belted New Zealand into the Twenty20 tri-series final against Australia despite England claiming their final round-robin match by two runs in Hamilton on Sunday. Munro plundered the England attack at the top of the New Zealand in
Published 19 Feb, 2018 12:00am
In boost to reform, Saudi Arabia's cabinet approves bankruptcy law

In boost to reform, Saudi Arabia's cabinet approves bankruptcy law

Saudi Arabia's cabinet has approved a bankruptcy law, sources familiar with the matter said on Sunday, giving a boost to efforts to make the kingdom more enticing to investors. Modern bankruptcy legislation does not currently exist in Saudi Arabia, creati
Published 19 Feb, 2018 12:00am
US sets largest offshore oil, gas lease auction for March

US sets largest offshore oil, gas lease auction for March

The Trump administration on Friday said it would offer the largest oil and gas offshore auction in US history on March 21 for areas in federal waters off the Gulf Coast, less than a year after a similar sale yielded little corporate interest. The Interior
Published 19 Feb, 2018 12:00am
Saudi women to start own business without male permission

Saudi women to start own business without male permission

Women in Saudi Arabia can now open their own businesses without the consent of a husband or male relative, as the kingdom pushes to expand a fast-growing private sector. The policy change, announced by the Saudi government on Thursday, also marks a major
Published 19 Feb, 2018 12:00am
Daimler, Volkswagen face more recalls over emissions cheating
Exchange

Daimler, Volkswagen face more recalls over emissions cheating

German transport authorities will next week recall thousands more Daimler and Volkswagen vehicles, Der Spiegel magazine reported Friday, as the massive emissions cheating scandal that has engulfed the sector for more than two years shows no sign of going
Published 19 Feb, 2018 12:00am
Abu Dhabi awards Spanish firm stake in offshore oil concession

Abu Dhabi awards Spanish firm stake in offshore oil concession

Abu Dhabi National Oil Co. (ADNOC) said Sunday it has awarded Spanish Cepsa firm a 20 percent share in a concession of two offshore oil fields in a deal worth $1.5 billion. The 40-year deal aims to double production at the emirate's offshore fields of SAR
Published 19 Feb, 2018 12:00am
Reliance, global tech firms to invest $9.3 billion in industrial area

Reliance, global tech firms to invest $9.3 billion in industrial area

India's Reliance Industries Ltd and global technology companies will invest 600 billion rupees ($9.34 billion) over 10 years to set up an integrated industrial area in the western state of Maharashtra, the company's chairman Mukesh Ambani said. More than
Published 19 Feb, 2018 12:00am
Abuse or jobless: stark choice for many Philippine domestics

Abuse or jobless: stark choice for many Philippine domestics

After the murder of a Philippine maid in Kuwait, domestic helpers are streaming back to Manila with tales of abusive employers - but many are still prepared to take their chances overseas again. For them, the sometimes brutal conditions and the hide-and-s
Published 19 Feb, 2018 12:00am
Israeli, US officials meet over gas row with Lebanon

Israeli, US officials meet over gas row with Lebanon

Israeli Energy Minister Yuval Steinitz met Sunday with a senior United States official seeking to defuse an escalating oil and gas dispute with Lebanon, his office said. A statement from his spokesman said Steinitz held talks with Acting Assistant Secreta
Published 19 Feb, 2018 12:00am
Spanish cheesemakers defend Manchego from Mexican 'copy'

Spanish cheesemakers defend Manchego from Mexican 'copy'

In central Spain, the arid plains of La Mancha are famous for their windmills and Manchego, a cheese made out of ewe's milk that is one of the best-known representatives of the country's gastronomy. But local producers there are furious with Mexico which
Published 19 Feb, 2018 12:00am
S&P will post negative return in 2018: DoubleLine's Gundlach

S&P will post negative return in 2018: DoubleLine's Gundlach

While US stocks are now in an "accelerating phase," billionaire investor Jeffrey Gundlach is predicting that the S&P 500 will post a negative rate of return in 2018. One of the best investments for 2018 will be commodities, Gundlach, chief executive of Do
Published 19 Feb, 2018 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. 82.94-82.94 (Previous 82.94-82.94).
Published 19 Feb, 2018 12:00am
Japan policymakers step up warnings over 'one-sided' yen gains
Currency

Japan policymakers step up warnings over 'one-sided' yen gains

Japanese policymakers stepped up warnings against a rising yen on Friday, saying recent moves were one-sided and they would respond appropriately, as worries grow that the buoyant currency could damage the export-reliant economy. Finance Minister Taro Aso
Published 19 Feb, 2018 12:00am
JTC eyes 320 million pound London IPO

JTC eyes 320 million pound London IPO

Financial services business JTC Group is gearing up for a London stock market float that could value the private-equity backed firm at more than 300 million pounds ($414.33 million), according to two sources with knowledge of the matter. Jersey-based JTC,
Published 19 Feb, 2018 12:00am
JTC eyes 320 million pound London IPO

JTC eyes 320 million pound London IPO

Financial services business JTC Group is gearing up for a London stock market float that could value the private-equity backed firm at more than 300 million pounds ($414.33 million), according to two sources with knowledge of the matter. Jersey-based JTC,
Published 19 Feb, 2018 12:00am
Turkey's Actera plans IPO for auto firm Actera

Turkey's Actera plans IPO for auto firm Actera

Turkish private equity fund Actera is planning an initial public offering for auto parts maker Standard Profil and has mandated JP Morgan for a listing that may take place in London, according to people familiar with the matter. Actera is considering a fl
Published 19 Feb, 2018 12:00am
Turkey's Actera plans IPO for auto firm Actera

Turkey's Actera plans IPO for auto firm Actera

Turkish private equity fund Actera is planning an initial public offering for auto parts maker Standard Profil and has mandated JP Morgan for a listing that may take place in London, according to people familiar with the matter. Actera is considering a fl
Published 19 Feb, 2018 12:00am
Dubai underperforms in sluggish region, rate cut boosts Egypt
Exchange

Dubai underperforms in sluggish region, rate cut boosts Egypt

Dubai's stock market again underperformed in a sluggish Gulf on Sunday while local institutional investors boosted Qatar and Egypt rose after an interest rate cut at the end of last week. Slumping real estate prices have weighed on Dubai's bourse in recen
Published 19 Feb, 2018 12:00am
Russia's En+ invites banks to pitch for $1 billion share sale

Russia's En+ invites banks to pitch for $1 billion share sale

Russia's En+ Group has invited international banks to pitch for the sale of $1 billion of shares in the company that manages the aluminium and hydropower businesses of Russian businessmen Oleg Deripaska, three sources said. The inclusion of Deripaska on a
Published 19 Feb, 2018 12:00am
Russia's En+ invites banks to pitch for $1 billion share sale

Russia's En+ invites banks to pitch for $1 billion share sale

Russia's En+ Group has invited international banks to pitch for the sale of $1 billion of shares in the company that manages the aluminium and hydropower businesses of Russian businessmen Oleg Deripaska, three sources said. The inclusion of Deripaska on a
Published 19 Feb, 2018 12:00am
China central bank buys net 4.5 billion yuan in FX in January
Exchange

China central bank buys net 4.5 billion yuan in FX in January

China's central bank purchased a net 4.5 billion yuan ($710.08 million) worth of foreign exchange in January, the most since October 2015, according to Reuters calculations based on central bank data released on Wednesday. Investors look to the data to es
Published 19 Feb, 2018 12:00am
Number of crypto hedge funds surges amid bitcoin volatility
Exchange

Number of crypto hedge funds surges amid bitcoin volatility

Hedge funds focused on trading cryptocurrencies have struggled to eke out returns this year amid a sharp sell-off in the highly volatile market, in spite of a flood of new funds setting up to deploy investor cash. The number of crypto hedge funds more tha
Published 19 Feb, 2018 12:00am
Number of crypto hedge funds surges amid bitcoin volatility
Exchange

Number of crypto hedge funds surges amid bitcoin volatility

Hedge funds focused on trading cryptocurrencies have struggled to eke out returns this year amid a sharp sell-off in the highly volatile market, in spite of a flood of new funds setting up to deploy investor cash. The number of crypto hedge funds more tha
Published 19 Feb, 2018 12:00am
Lloyds and RBS set ethnic targets for top roles

Lloyds and RBS set ethnic targets for top roles

Britain's two biggest banks have set targets for ethnic minority representation in top roles after criticism of some of the country's largest companies for being opaque about diversity. Lloyds Banking Group said its targets marked the first time a FTSE 10
Published 19 Feb, 2018 12:00am
Singapore Airlines posts 62 percent surge in Q3 net profit

Singapore Airlines posts 62 percent surge in Q3 net profit

Singapore Airlines posted a 62 percent jump in quarterly profit, its best third-quarter earnings in seven years, but forecast challenging market conditions due to rising fuel prices and aggressive competition from rivals. The carrier, a benchmark for Asia
Published 19 Feb, 2018 12:00am
Singapore Airlines posts 62 percent surge in Q3 net profit

Singapore Airlines posts 62 percent surge in Q3 net profit

Singapore Airlines posted a 62 percent jump in quarterly profit, its best third-quarter earnings in seven years, but forecast challenging market conditions due to rising fuel prices and aggressive competition from rivals. The carrier, a benchmark for Asia
Published 19 Feb, 2018 12:00am
Amazon cutting hundreds of Seattle jobs in consumer business

Amazon cutting hundreds of Seattle jobs in consumer business

Amazon.com Inc is cutting hundreds of jobs in its consumer business in Seattle, a person familiar with the matter said on Monday, as the company shifts resources into fast-growing areas like its work on voice assistant Alexa.
Published 19 Feb, 2018 12:00am
Allianz considers group's stance on coal insurance

Allianz considers group's stance on coal insurance

Germany's Allianz is considering whether to stop insuring new coal power plants but told environmental campaigners it would stay in the business for now. The 22 percent slide in fourth-quarter earnings reported by the insurer on Friday brought into sharp
Published 19 Feb, 2018 12:00am
Etisalat fourth quarter profit falls 12 percent
Exchange

Etisalat fourth quarter profit falls 12 percent

UAE telecoms company Etisalat on Wednesday reported a 12 percent fall in fourth-quarter profit, according to Reuters calculations. Etisalat, which directly and indirectly operates in countries across the Middle East, Africa and Asia, made a net profit of
Published 19 Feb, 2018 12:00am
Etisalat fourth quarter profit falls 12 percent
Exchange

Etisalat fourth quarter profit falls 12 percent

UAE telecoms company Etisalat on Wednesday reported a 12 percent fall in fourth-quarter profit, according to Reuters calculations. Etisalat, which directly and indirectly operates in countries across the Middle East, Africa and Asia, made a net profit of
Published 19 Feb, 2018 12:00am
Saudi Riyad Bank's fourth quarter profit up

Saudi Riyad Bank's fourth quarter profit up

Riyad Bank, Saudi Arabia's fourth-largest lender by assets, posted a huge rise in fourth-quarter net profit on Tuesday, beating analysts' forecasts, boosted by an easing of impairment charges for credit losses. The bank made 974 million riyals ($259.7 mil
Published 19 Feb, 2018 12:00am
Saudi Riyad Bank's fourth quarter profit up

Saudi Riyad Bank's fourth quarter profit up

Riyad Bank, Saudi Arabia's fourth-largest lender by assets, posted a huge rise in fourth-quarter net profit on Tuesday, beating analysts' forecasts, boosted by an easing of impairment charges for credit losses. The bank made 974 million riyals ($259.7 mil
Published 19 Feb, 2018 12:00am
UAE banks eye end to $22 billion Saudi debt saga

UAE banks eye end to $22 billion Saudi debt saga

Banks in the United Arab Emirates are hopeful of recovering some funds in 2018 from the multibillion-dollar collapse of Saudi Arabia's Saad Group and Ahmad Hamad al-Gosaibi & Bros Co (AHAB) nearly a decade ago, a senior banking official told Reuters.
Published 19 Feb, 2018 12:00am
Eni holds out promise of richer returns as profits soar

Eni holds out promise of richer returns as profits soar

Italian oil company Eni on Friday held out the promise of stronger returns for shareholders after its profits more than doubled in the fourth quarter and production hit a record high. Like rivals in the oil industry, state-controlled Eni cut spending and
Published 19 Feb, 2018 12:00am
Eni holds out promise of richer returns as profits soar

Eni holds out promise of richer returns as profits soar

Italian oil company Eni on Friday held out the promise of stronger returns for shareholders after its profits more than doubled in the fourth quarter and production hit a record high. Like rivals in the oil industry, state-controlled Eni cut spending and
Published 19 Feb, 2018 12:00am
Cisco reports first rise in quarterly revenue in over two years

Cisco reports first rise in quarterly revenue in over two years

Cisco Systems Inc reported its first rise in quarterly revenue in more than two years and forecast upbeat current-quarter profit, as the network gear maker's years-long efforts to transform into a software-focused company begins to pay off.
Published 19 Feb, 2018 12:00am
Cisco reports first rise in quarterly revenue in over two years

Cisco reports first rise in quarterly revenue in over two years

Cisco Systems Inc reported its first rise in quarterly revenue in more than two years and forecast upbeat current-quarter profit, as the network gear maker's years-long efforts to transform into a software-focused company begins to pay off.
Published 19 Feb, 2018 12:00am
Apple's new speaker makes an unwelcome mark in some homes

Apple's new speaker makes an unwelcome mark in some homes

Apple's new internet-connected speaker is proving to be more appealing to the ears than to the eyes, depending on where the device is placed. Some people who bought the just-released $349 speaker, dubbed the HomePod, are reporting that it leaves a white r
Published 19 Feb, 2018 12:00am
French start-up Sigfox faces 5G juggernaut in Internet of Things

French start-up Sigfox faces 5G juggernaut in Internet of Things

French start-up Sigfox, which builds networks to connect washing machines and other objects to the internet, says it is struggling to meet its growth targets due to high expectations for alternative, forthcoming 5G services. The company, whose shareholder
Published 19 Feb, 2018 12:00am
Toshiba tips return to black after chip, nuclear unit sales

Toshiba tips return to black after chip, nuclear unit sales

Troubled Japanese conglomerate Toshiba said on Wednesday it would swing into the black for the full fiscal year as it completes the multi-billion-dollar sale of its chip business to restore its balance sheet. The Tokyo-based firm said it now expects a net
Published 19 Feb, 2018 12:00am
Google takes on Snapchat with its own 'Stories' format

Google takes on Snapchat with its own 'Stories' format

Google launched its own "stories" format Tuesday to compete with Snapchat and Instagram with image-driven news articles aimed at mobile phone and tablet users. Content for its "AMP stories" initially comes from outlets like CNN, The Washington Post, Conde
Published 19 Feb, 2018 12:00am
Google begins blocking annoying ads on its browser

Google begins blocking annoying ads on its browser

Google has begun a new effort to block annoying ads on its Chrome browser, as part of an initiative aimed at improving the online advertising ecosystem that provides the bulk of its revenues. The new ad filtering system rolled out this week aims to elimin
Published 19 Feb, 2018 12:00am
Google to debut emails that automatically update

Google to debut emails that automatically update

Gmail is about to get dynamic. Alphabet Inc's Google on Tuesday plans to demonstrate a software programming system that would enable emails to feature continuously updating information and greater interactivity. Users could see automatically updated fligh
Published 19 Feb, 2018 12:00am
Volkswagen looks at Apple for electric-car design guidance

Volkswagen looks at Apple for electric-car design guidance

Volkswagen is looking at Apple products for guidance on how to style its new generation of electric cars, its top designer said, as the automaker aims to turn profits on battery-powered vehicles when they launch in 2020. The US tech giant has brought abou
Published 19 Feb, 2018 12:00am
For global water crisis, climate may be the last straw

For global water crisis, climate may be the last straw

Before man-made climate change kicked in and well before "Day Zero" in Cape Town, where taps may run dry in early May the global water crisis was upon us. Freshwater resources around the world were already badly stressed before heat-trapping carbon emissi
Published 19 Feb, 2018 12:00am
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