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Print - 2018-04-28
Fire safety failings at hundreds of Russian sites

Fire safety failings at hundreds of Russian sites

Hundreds of commercial and cultural sites in Russia fall below fire safety standards, authorities said Thursday following checks after a fire in Siberia killed more than 60 people in March. Local prosecutors were ordered to check whether safety regulation
Published 28 Apr, 2018 12:00am
Illusions galore?

Illusions galore?

The budget for 2017-18 creates several positive illusions at first glance but a closer look reveals little may change in terms of policy or in terms of its thrust. Total net budgeted revenue (tax and non tax) estimated at 2926 billion rupees (after subtra
Published 28 Apr, 2018 12:00am
Amazon delivers hefty profits

Amazon delivers hefty profits

Internet colossus Amazon on Thursday reported that its quarterly profit more than doubled on soaring revenue from online commerce and cloud services. The earnings beat market expectations and came with an announcement that Amazon is raising the annual Pri
Published 28 Apr, 2018 12:00am
Illusions galore?

Illusions galore?

The budget for 2017-18 creates several positive illusions at first glance but a closer look reveals little may change in terms of policy or in terms of its thrust. Total net budgeted revenue (tax and non tax) estimated at 2926 billion rupees (after subtra
Published 28 Apr, 2018 12:00am
Royal Bank of Scotland profits treble

Royal Bank of Scotland profits treble

Britain's state-rescued Royal Bank of Scotland saw first-quarter net profits more than triple on lower restructuring costs and rising income, it said Friday. Earnings after taxation surged to £792 million ($1.1 billion, 911 million euros) in the first thr
Published 28 Apr, 2018 12:00am
No privatisation proceeds!

No privatisation proceeds!

No privatization proceeds form part of the revenue for next fiscal year, while Rs 50 billion was budgeted though not realized under this head in the current year. The government failed to privatize any public sector entity (PSE) during the current financi
Published 28 Apr, 2018 12:00am
Royal Bank of Scotland profits treble

Royal Bank of Scotland profits treble

Britain's state-rescued Royal Bank of Scotland saw first-quarter net profits more than triple on lower restructuring costs and rising income, it said Friday. Earnings after taxation surged to £792 million ($1.1 billion, 911 million euros) in the first thr
Published 28 Apr, 2018 12:00am
No privatisation proceeds!

No privatisation proceeds!

No privatization proceeds form part of the revenue for next fiscal year, while Rs 50 billion was budgeted though not realized under this head in the current year. The government failed to privatize any public sector entity (PSE) during the current financi
Published 28 Apr, 2018 12:00am
French growth slips

French growth slips

France's economic growth decelerated sharply in the first quarter according to government estimates published Friday, but economists believe the blip is temporary as President Emmanuel Macron pushes a business-friendly agenda. National statistics agency I
Published 28 Apr, 2018 12:00am
No privatisation proceeds!

No privatisation proceeds!

No privatization proceeds form part of the revenue for next fiscal year, while Rs 50 billion was budgeted though not realized under this head in the current year. The government failed to privatize any public sector entity (PSE) during the current financi
Published 28 Apr, 2018 12:00am
Microsoft gets earnings boost from 'cloud'

Microsoft gets earnings boost from 'cloud'

Microsoft said Thursday profits rose sharply in the past quarter, lifted by gains in its core cloud computing operations for business. The tech giant reported earnings were up 35 percent to $7.4 billion in the fiscal third quarter, with revenue rising 16
Published 28 Apr, 2018 12:00am
HIGHLIGHTS

HIGHLIGHTS

Additional customs duty raised by 1%
Published 28 Apr, 2018 12:00am
Airbus profits fall 30 percent, hit by delivery delays

Airbus profits fall 30 percent, hit by delivery delays

Airbus saw its profits plunge by 30 percent in the first quarter of 2018 due to delays in delivery of its A320neo engines but still plans to supply 800 aircraft this year, the company said Friday. Its net income dropped to 283 million euros ($342 million)
Published 28 Apr, 2018 12:00am
HIGHLIGHTS

HIGHLIGHTS

Additional customs duty raised by 1%
Published 28 Apr, 2018 12:00am
Eurozone sets June deadline for Greece debt deal

Eurozone sets June deadline for Greece debt deal

Eurozone finance ministers on Friday set a two-month countdown to agree Greece's high-wire exit from eight years of bailout programmes with divisions deep over how much debt relief Athens needs. Mario Centeno, the head of the Eurogroup, said reform effort
Published 28 Apr, 2018 12:00am
HIGHLIGHTS

HIGHLIGHTS

Additional customs duty raised by 1%
Published 28 Apr, 2018 12:00am
Biggest sovereign fund loses $21 billion in first quarter
Currency

Biggest sovereign fund loses $21 billion in first quarter

Norway's sovereign wealth fund, the world's biggest, posted a negative return of 171 billion kroner (17.7 billion euros, $21.3 billion) in the first quarter, impacted by volatile global stock markets, Norway's central bank said Friday.
Published 28 Apr, 2018 12:00am
HIGHLIGHTS

HIGHLIGHTS

Additional customs duty raised by 1%
Published 28 Apr, 2018 12:00am
Biggest sovereign fund loses $21 billion in first quarter
Currency

Biggest sovereign fund loses $21 billion in first quarter

Norway's sovereign wealth fund, the world's biggest, posted a negative return of 171 billion kroner (17.7 billion euros, $21.3 billion) in the first quarter, impacted by volatile global stock markets, Norway's central bank said Friday.
Published 28 Apr, 2018 12:00am
HIGHLIGHTS

HIGHLIGHTS

Additional customs duty raised by 1%
Published 28 Apr, 2018 12:00am
Profit slip in Q1 fails to brake Daimler's confidence

Profit slip in Q1 fails to brake Daimler's confidence

Mercedes-Benz maker Daimler said Friday it was confident of reaching its objectives in 2018 even as it reported a significant slide in profits in the first quarter. Net profits at the Stuttgart-based group shrank 11.1 percent year-on-year between January
Published 28 Apr, 2018 12:00am
HIGHLIGHTS

HIGHLIGHTS

Additional customs duty raised by 1%
Published 28 Apr, 2018 12:00am
Sony profits soar nearly seven-fold to $4.5 billion
Exchange

Sony profits soar nearly seven-fold to $4.5 billion

Sony on Friday reported profits worth $4.5 billion, extending a roaring recovery supported by better sales almost across the board, including with box office blockbusters like its Jumanji reboot. The results confirm the electronics and entertainment giant
Published 28 Apr, 2018 12:00am
BRIndex100 inches up
Exchange

BRIndex100 inches up

Pakistan Stock Exchange managed to close in positive territory on the last day of the week due to fresh buying in select stocks. BRIndex100 gained 7.1 points or 0.15 percent to close at 4,873.76 points Friday. BRIndex100 touched intraday high of 4,898.17
Published 28 Apr, 2018 12:00am
Sony profits soar nearly seven-fold to $4.5 billion
Exchange

Sony profits soar nearly seven-fold to $4.5 billion

Sony on Friday reported profits worth $4.5 billion, extending a roaring recovery supported by better sales almost across the board, including with box office blockbusters like its Jumanji reboot. The results confirm the electronics and entertainment giant
Published 28 Apr, 2018 12:00am
BRIndex100 inches up
Exchange

BRIndex100 inches up

Pakistan Stock Exchange managed to close in positive territory on the last day of the week due to fresh buying in select stocks. BRIndex100 gained 7.1 points or 0.15 percent to close at 4,873.76 points Friday. BRIndex100 touched intraday high of 4,898.17
Published 28 Apr, 2018 12:00am
Britain in severe slowdown one year before Brexit
Exchange

Britain in severe slowdown one year before Brexit

Britain's economy suffered a sharp slowdown in the first quarter with the weakest growth rate since 2012, official data showed Friday in a gloomy sign one year before Brexit. Gross domestic product expanded 0.1 percent in the three months to the end of Ma
Published 28 Apr, 2018 12:00am
BRIndex100 inches up
Exchange

BRIndex100 inches up

Pakistan Stock Exchange managed to close in positive territory on the last day of the week due to fresh buying in select stocks. BRIndex100 gained 7.1 points or 0.15 percent to close at 4,873.76 points Friday. BRIndex100 touched intraday high of 4,898.17
Published 28 Apr, 2018 12:00am
US rejects plan to break trade court deadlock

US rejects plan to break trade court deadlock

The United States on Friday rejected a proposal by 66 World Trade Organization members aimed at breaking a deadlock within the body's court, a trade official in Geneva said. The deeping crisis at the WTO's Dispute Settlement Body (DSB) has been triggered
Published 28 Apr, 2018 12:00am
Subsidy volume increased by 25.86 percent

Subsidy volume increased by 25.86 percent

The federal government has increased subsidy volume 25.86 percent to Rs 174.746 billion for the fiscal year 2018-19 from budgetary allocation of Rs 138.846 billion in 2017-18. However, the volume of subsidy has been increased by 18.38 percent for 2018-19
Published 28 Apr, 2018 12:00am
US economy slows in Q1, but wage growth accelerates

US economy slows in Q1, but wage growth accelerates

The US economy slowed in the first quarter as consumer spending grew at its weakest pace in nearly five years, but a surge in wages amid tightening labour market conditions and lower tax rates suggested the setback is likely temporary. Gross domestic prod
Published 28 Apr, 2018 12:00am
Subsidy volume increased by 25.86 percent

Subsidy volume increased by 25.86 percent

The federal government has increased subsidy volume 25.86 percent to Rs 174.746 billion for the fiscal year 2018-19 from budgetary allocation of Rs 138.846 billion in 2017-18. However, the volume of subsidy has been increased by 18.38 percent for 2018-19
Published 28 Apr, 2018 12:00am
PMEX daily trading report
Exchange

PMEX daily trading report

On Thursday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,459. The traded value of Metals, Energy and COTS/FX was recorded at 7.306 billion and the number of lots traded was 9,046. Major business was contributed by currencies t
Published 28 Apr, 2018 12:00am
Subsidy volume increased by 25.86 percent

Subsidy volume increased by 25.86 percent

The federal government has increased subsidy volume 25.86 percent to Rs 174.746 billion for the fiscal year 2018-19 from budgetary allocation of Rs 138.846 billion in 2017-18. However, the volume of subsidy has been increased by 18.38 percent for 2018-19
Published 28 Apr, 2018 12:00am
CBOT soyabean futures rise

CBOT soyabean futures rise

Chicago Board of Trade soyabean futures rose on Wednesday on an easing of rhetoric in a trade spat between the United States and China, the world's top buyerr of the oilseed, trader said The collision of a cargo ship with a dock on the Parana River in Arg
Published 28 Apr, 2018 12:00am
Rs 93 billion new taxation measures taken

Rs 93 billion new taxation measures taken

The government has taken new taxation measures of Rs 93 billion including an increase in additional customs duty from 1 to 2 percent on imports across the board, review of regulatory duties on 731 customs tariff lines, raise in further sales tax from 2 to
Published 28 Apr, 2018 12:00am
EU wheat jumps in the wake of rally in Chicago

EU wheat jumps in the wake of rally in Chicago

European wheat prices rose sharply on Wednesday in the wake of a rally in Chicago where wheat reached its highest in more than five weeks, supported by short-covering amid persistent concerns about adverse weather curtailing harvest expectations. A fall o
Published 28 Apr, 2018 12:00am
Rs 93 billion new taxation measures taken

Rs 93 billion new taxation measures taken

The government has taken new taxation measures of Rs 93 billion including an increase in additional customs duty from 1 to 2 percent on imports across the board, review of regulatory duties on 731 customs tariff lines, raise in further sales tax from 2 to
Published 28 Apr, 2018 12:00am
Taiwan seeks to buy US wheat

Taiwan seeks to buy US wheat

The Taiwan Flour Millers' Association purchased 92,975 tonnes of milling wheat to be sourced from the United States in an international tender which closed on April 18, European traders said on Wednesday. The wheat was bought in two consignments for shipm
Published 28 Apr, 2018 12:00am
Rs 93 billion new taxation measures taken

Rs 93 billion new taxation measures taken

The government has taken new taxation measures of Rs 93 billion including an increase in additional customs duty from 1 to 2 percent on imports across the board, review of regulatory duties on 731 customs tariff lines, raise in further sales tax from 2 to
Published 28 Apr, 2018 12:00am
Asian naphtha crack rises

Asian naphtha crack rises

Asia's naphtha crack rose for the fourth straight session on Wednesday to $78.40 a tonne, the highest since April 13, as recent demand for June cargoes gave the market support. Asia's gasoline crack, in contrast, fell to $6.27 a barrel, erasing gains from
Published 28 Apr, 2018 12:00am
Its quite enigmatic
Exchange

Its quite enigmatic

The government has unveiled its sixth budget, promising relief measures in taxes, higher spending on subsides and increase in salaries for government employees as it heads into general election amid protest, uproar and walkout by the members of opposition
Published 28 Apr, 2018 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 123,858 tonnes of cargo comprising 81,607 tonnes of import cargo and 42,251 tonnes of export cargo including NA loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargo of 81,607
Published 28 Apr, 2018 12:00am
Its quite enigmatic
Exchange

Its quite enigmatic

The government has unveiled its sixth budget, promising relief measures in taxes, higher spending on subsides and increase in salaries for government employees as it heads into general election amid protest, uproar and walkout by the members of opposition
Published 28 Apr, 2018 12:00am
Subdued trade activity seen on cotton market
Cotton

Subdued trade activity seen on cotton market

Subdued trading activity was again witnessed on the cotton market on Friday amid announcement of Budget 2018-19, dealers said. The official spot rate was lower by Rs 100 to Rs 7400, they added. In both Sindh and Punjab, seed cotton prices were at Rs 2800-
Published 28 Apr, 2018 12:00am
Its quite enigmatic
Exchange

Its quite enigmatic

The government has unveiled its sixth budget, promising relief measures in taxes, higher spending on subsides and increase in salaries for government employees as it heads into general election amid protest, uproar and walkout by the members of opposition
Published 28 Apr, 2018 12:00am
CBOT corn futures rise

CBOT corn futures rise

Chicago Board of Trade corn futures rose 1.3 percent on Wednesday as a rally in the wheat market lent strength to the corn, causing a round of short-covering, traders said. The most-active corn contract hit its highest since July 24. It has risen for thre
Published 28 Apr, 2018 12:00am
Its quite enigmatic
Exchange

Its quite enigmatic

The government has unveiled its sixth budget, promising relief measures in taxes, higher spending on subsides and increase in salaries for government employees as it heads into general election amid protest, uproar and walkout by the members of opposition
Published 28 Apr, 2018 12:00am
Chinese steel futures climb to seven weeks high
Exchange

Chinese steel futures climb to seven weeks high

Chinese steel futures climbed to their highest in nearly seven weeks on Wednesday, supported by a sustained drop in inventories of the building material as seasonal demand gained steam. Steel consumption in China, the world's top buyer, is usually stronge
Published 28 Apr, 2018 12:00am
Its quite enigmatic
Exchange

Its quite enigmatic

The government has unveiled its sixth budget, promising relief measures in taxes, higher spending on subsides and increase in salaries for government employees as it heads into general election amid protest, uproar and walkout by the members of opposition
Published 28 Apr, 2018 12:00am
Thousands take part in anti-government protests in Armenia's second city

Thousands take part in anti-government protests in Armenia's second city

Thousands took part in a protest against Armenia's ruling party in Gyumri, the country's second city, on Friday, demanding that protest leader Nikol Pashinyan be made prime minister. Pashinyan led the rally as Armenia's political crisis deepened, with act
Published 28 Apr, 2018 12:00am
Its quite enigmatic
Exchange

Its quite enigmatic

The government has unveiled its sixth budget, promising relief measures in taxes, higher spending on subsides and increase in salaries for government employees as it heads into general election amid protest, uproar and walkout by the members of opposition
Published 28 Apr, 2018 12:00am
Taiwan president says willing to meet China's Xi 'for peace'

Taiwan president says willing to meet China's Xi 'for peace'

Taiwan's President Tsai Ing-wen said Friday she would be willing to meet her Chinese counterpart Xi Jinping "for peace and stability" in the wake of a landmark summit between the leaders of the two Koreas. Relations between Taiwan and China have deteriora
Published 28 Apr, 2018 12:00am
New teacher protests erupt in Arizona, Colorado

New teacher protests erupt in Arizona, Colorado

Scores of teachers in the western US states of Arizona and Colorado turned out Thursday to demand salary and budget increases, in the latest in a wave of similar efforts across the country. US media reported class was cancelled for 1.4 million schoolchild
Published 28 Apr, 2018 12:00am
Four killed in Boko Haram attacks in Nigeria

Four killed in Boko Haram attacks in Nigeria

At least four people were killed when Boko Haram suicide bombers attacked northeast Nigeria's biggest city, the emergency services said on Friday, as residents returned home. Violence broke out on the outskirts of Maiduguri on Thursday night, with indicat
Published 28 Apr, 2018 12:00am
UN Security Council backs Western Sahara talks

UN Security Council backs Western Sahara talks

The UN Security Council on Friday backed a US-drafted resolution that urges Morocco and the Polisario Front to prepare for talks on settling their decades-old dispute over Western Sahara. The council renewed for six months the mandate of a UN mission that
Published 28 Apr, 2018 12:00am
Weak sterling boosts FTSE 100 after sharp slowdown in UK GDP

Weak sterling boosts FTSE 100 after sharp slowdown in UK GDP

British shares climbed on Friday after weaker than expected GDP data triggered a slide in sterling, while Royal Bank of Scotland shares fell after its first-quarter results. UK growth slowed much more sharply than expected in the first quarter, sending th
Published 28 Apr, 2018 12:00am
Southeast Asian stocks climb on Korean peace hopes
Currency

Southeast Asian stocks climb on Korean peace hopes

Southeast Asian stock markets rose on Friday after US treasury yields receded from recent highs, while the Korean leaders' pledge to pursue a peace deal eased geopolitical tensions, boosting investor confidence. The two Koreas announced they would work wi
Published 28 Apr, 2018 12:00am
Australian, New Zealand shares jump

Australian, New Zealand shares jump

Australian shares closed near a six-week high on Friday, led by health care stocks, after Wall Street climbed on strong earnings and a drop in US Treasury yields. The S&P/ASX 200 index rose 0.7 percent or 42.8 points to 5,953.6 to end at its highest since
Published 28 Apr, 2018 12:00am
European shares post fifth week of gains as earnings gather pace

European shares post fifth week of gains as earnings gather pace

Well-received results from Spanish banks and a recovery among tech stocks lifted European shares to a fifth straight week of gains on Friday, its longest winning streak since September. The pan-European STOXX 600 index closed up 0.2 percent, a gain of 0.7
Published 28 Apr, 2018 12:00am
China stocks soar

China stocks soar

China stocks recovered from earlier losses to end higher on Friday, as gains in healthcare shares offset losses in consumer stocks, and as market participants continued to watch the developments of China-US trade spat. The blue-chip CSI300 index ended fla
Published 28 Apr, 2018 12:00am
Indian shares surge

Indian shares surge

Indian shares ended higher on Friday and posted their fifth consecutive weekly gain on renewed hopes for March-quarter corporate results driven by Reliance Industries Ltd and Axis Bank Ltd. The benchmark BSE index closed up 0.74 percent at 34,969.70, endi
Published 28 Apr, 2018 12:00am
Eurozone bond yields fall

Eurozone bond yields fall

Eurozone bonds yields fell on Friday as a cautious European Central Bank helped markets regain their footing after a US-led sell off earlier in the week. ECB chief Mario Draghi played down concerns over softness in the euro zone economy on Thursday as the
Published 28 Apr, 2018 12:00am
Eurozone bond yields fall

Eurozone bond yields fall

Eurozone bonds yields fell on Friday as a cautious European Central Bank helped markets regain their footing after a US-led sell off earlier in the week. ECB chief Mario Draghi played down concerns over softness in the euro zone economy on Thursday as the
Published 28 Apr, 2018 12:00am
US 10-year yield dips below three percent

US 10-year yield dips below three percent

US Treasury yields fell on Thursday, with the 10-year yield dipping below 3 percent as buyers emerged following a week-long selloff spurred by concerns about rising inflation and growing borrowing by the US government.
Published 28 Apr, 2018 12:00am
US 10-year yield dips below three percent

US 10-year yield dips below three percent

US Treasury yields fell on Thursday, with the 10-year yield dipping below 3 percent as buyers emerged following a week-long selloff spurred by concerns about rising inflation and growing borrowing by the US government.
Published 28 Apr, 2018 12:00am
Hong Kong stocks up

Hong Kong stocks up

Hong Kong shares ended higher on Friday, led by IT and energy stocks, tracking gains in Asian markets following an overnight rebound in US technology shares. The Hang Seng index ended 0.9 percent higher at 30,280.67, while the China Enterprises Index clos
Published 28 Apr, 2018 12:00am
Wall Street gains on strong earnings, tech resurgence
Exchange

Wall Street gains on strong earnings, tech resurgence

US stocks advanced on Thursday with each of Wall Street's major indexes ending the session up 1 percent or higher, boosted by solid earnings results and a rebound in technology stocks as US bond yields pulled back. The tech-heavy Nasdaq snapped a five-day
Published 28 Apr, 2018 12:00am
Tokyo stocks rise

Tokyo stocks rise

Tokyo stocks closed higher on Friday, underpinned by gains on Wall Street and investor confidence in corporate earnings, as well as expectations of a positive tone at a landmark inter-Korean summit. The benchmark Nikkei 225 index rose 0.66 percent or 148.
Published 28 Apr, 2018 12:00am
Sri Lankan stocks edge up

Sri Lankan stocks edge up

Sri Lankan shares ended slightly firmer on Friday with block deals in blue chips pushing up the day's turnover to a more than three-week high, although political uncertainty dampened investor appetite for risk assets, stockbrokers said.
Published 28 Apr, 2018 12:00am
Aussie, kiwi near multi-month lows
Currency

Aussie, kiwi near multi-month lows

The Australian dollar slipped again on Friday to a near five-month trough while its New Zealand cousin paused after eight straight sessions of losses as the greenback looked set to continue climbing. The Australian dollar eased to $0.7548, a level not see
Published 28 Apr, 2018 12:00am
Sterling slides against dollar

Sterling slides against dollar

Sterling tumbled to a two-month low against the dollar on Friday after Britain's economy slowed far more than expected in the first quarter of 2018, slashing expectations the Bank of England will raise interest rates in May. The pound fell as low as $1.37
Published 28 Apr, 2018 12:00am
Sri Lankan rupee hits all-time low

Sri Lankan rupee hits all-time low

The Sri Lankan rupee hit a record closing low on Friday, weakening for five out of six sessions, as dollar demand from importers and banks surpassed selling of the greenback by exporters early in the day, dealers said.
Published 28 Apr, 2018 12:00am
Asian currencies steady
Currency

Asian currencies steady

The South Korean won was firmer on Friday, supported by hopes of a deeper thawing of relations after leaders of the two Koreas held a historic meeting, while most other emerging Asian currencies trod water ahead of key US economic data.
Published 28 Apr, 2018 12:00am
Yuan set for worst month since November 2016
Currency

Yuan set for worst month since November 2016

China's yuan weakened against the dollar on Friday as a softer midpoint and a broadly stronger greenback put the local currency on track for its worst monthly performance in 1-1/2 years. The dollar held near a 3-1/2-month high against a basket of currenci
Published 28 Apr, 2018 12:00am
Euro dips in New York
Currency

Euro dips in New York

The euro dropped to session lows on Thursday after ECB President Mario Draghi hailed "solid" euro zone growth but kept rates unchanged, as dollar short positions unwound on strong US economic data. The euro fell to its lowest since mid-January at $1.211 a
Published 28 Apr, 2018 12:00am
Palm oil hits over one-week low
Vegetable Oil

Palm oil hits over one-week low

Malaysian palm oil futures slipped for a fourth session in five on Friday evening after earlier trading in a range, as traders awaited upcoming industry data and forecasts from leading analysts. The benchmark palm oil contract for July delivery on the Bur
Published 28 Apr, 2018 12:00am
Shanghai aluminium rises
Exchange

Shanghai aluminium rises

The most-traded June aluminium contract on the Shanghai Futures Exchange ended 0.5 percent higher at 14,480 yuan ($2,283.91) a tonne on Friday. It has dropped 3.7 percent this week, but gained 4.8 percent in April as traders continued to grapple with the
Published 28 Apr, 2018 12:00am
Saudi Arabia downs Yemeni rebel missile

Saudi Arabia downs Yemeni rebel missile

Saudi Arabia said its air defences on Friday intercepted a missile fired by Yemeni rebels, days after the insurgents' second-in-command was killed in an air raid by Riyadh and its allies. The ballistic missile, the latest in a series of similar attacks, w
Published 28 Apr, 2018 12:00am
Aluminium falls as supply fears abate, copper down
Exchange

Aluminium falls as supply fears abate, copper down

Aluminium fell on Friday after sources said sanctions-hit Russian producer Rusal will overhaul its management structure to restore shipments, further dampening fears of a supply shortfall. The metal was set for its biggest weekly drop in seven years as in
Published 28 Apr, 2018 12:00am
ABBA reunite with two new songs after 35 years

ABBA reunite with two new songs after 35 years

Sweden's legendary disco group ABBA announced on Friday that they have reunited to record two new songs, 35 years after their last single. "We all four felt that, after some 35 years, it could be fun to join forces again and go into the recording studio.
Published 28 Apr, 2018 12:00am
Uruguay's first oil auction in seven years draws zero bids

Uruguay's first oil auction in seven years draws zero bids

There were no bids on any of the 17 offshore blocks that Uruguay offered up in its first oil auction in seven years on Thursday, but the government might sweeten terms next year, a source with state-run oil company Ancap said. The auction was held as risi
Published 28 Apr, 2018 12:00am
Venezuela, Panama agree to restore envoys, air links

Venezuela, Panama agree to restore envoys, air links

Venezuela and Panama on Thursday agreed to restore their respective ambassadors and reestablish air links as they sought to patch up a bitter diplomatic row, Venezuelan President Nicolas Maduro said Thursday. "We have agreed to return ambassadors to Panam
Published 28 Apr, 2018 12:00am
Oil prices steady but supported by Iran concerns

Oil prices steady but supported by Iran concerns

Oil prices were little changed on Friday, with Brent on track for its third week of gains amid supply concerns should the United States reimpose sanctions on Iran. Brent crude futures rose 6 cents to $74.80 a barrel, a 0.1 percent gain, by 1:11 p.m. EDT (
Published 28 Apr, 2018 12:00am
Dos Santos stands down as head of Angola ruling party

Dos Santos stands down as head of Angola ruling party

Angola's former long-time president Jose Eduardo dos Santos is to stand down as head of the ruling MPLA party, officials said Friday, underlining the country's historic transfer of power. Joao Lourenco, who succeeded dos Santos as president last year, wil
Published 28 Apr, 2018 12:00am
Tokyo rubber falls
Exchange

Tokyo rubber falls

Benchmark Tokyo rubber futures fell on Friday, tracking losses in Shanghai futures, as traders hiked short positions, and amid lingering worries over oversupply and weak demand. The Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery fin
Published 28 Apr, 2018 12:00am
Kabul News journalist shot dead on way to work

Kabul News journalist shot dead on way to work

The Committee to Protect Journalists on April 26, 2018 called on Afghan authorities to thoroughly investigate the killing of journalist Abdul Manan Arghand and to ensure that those responsible for his death are brought to justice. Two unknown gunmen on mo
Published 28 Apr, 2018 12:00am
IGC cuts Argentina soyabean crop forecast

IGC cuts Argentina soyabean crop forecast

Argentina's soyabean crop is expected to decline to 38 million tonnes following hot and dry weather this year, International Grains Council senior economist Darren Cooper said on Wednesday. "We've had to downgrade the crop forecast by 18 million tonnes, f
Published 28 Apr, 2018 12:00am
Nato calls time on historic 'Room 1'

Nato calls time on historic 'Room 1'

It was the venue for some of the most important and dramatic moments in Nato's history but on Friday the alliance bid farewell to its historic "Room 1" conference chamber. For 50 years Nato leaders, ministers and ambassadors have held their most important
Published 28 Apr, 2018 12:00am
Gold steadies in Asia
Currency

Gold steadies in Asia

Gold prices languished near a five-week low on Friday, set for a decline of more than 1 percent this week, weighed down by a strong dollar, high US Treasury yields and easing geo-political concerns. Spot gold was steady at $1,316.34 per ounce at 0700 GMT,
Published 28 Apr, 2018 12:00am
US MIDDAY: gold moves higher

US MIDDAY: gold moves higher

Gold edged higher on Friday after the dollar and US Treasury yields backed off highs, but the prospect of a Korean denuclearisation deal eroded bullion's safe-haven appeal. Spot gold gained 0.4 percent at $1,321.81 per ounce by 1:37 p.m. EDT (1737 GMT). U
Published 28 Apr, 2018 12:00am
Dollar extends gains in Europe, sees biggest weekly rise
Currency

Dollar extends gains in Europe, sees biggest weekly rise

The dollar extended gains on Friday and is set to post its biggest weekly rise in more than 1-1/2 years as a rise in US Treasury yields above key psychological levels this week prompted currency bears to unwind some of their short bets. Sterling was the b
Published 28 Apr, 2018 12:00am
US MIDDAY: soyabeans jump

US MIDDAY: soyabeans jump

Chicago Board of Trade soyabean futures jumped 1.7 percent on Friday, their fourth straight day of gains, on expectations that the United States will boost its share of the soyameal export market due to harvest shortfalls in Argentina, traders said. Corn
Published 28 Apr, 2018 12:00am
Dollar at 3-1/2-month high in Asia
Currency

Dollar at 3-1/2-month high in Asia

The dollar held near a 3-1/2-month high against a basket of currencies on Friday as higher US yields prompted an unwinding of short positions in the currency while the euro was hampered by a dovish tone from the European Central Bank.
Published 28 Apr, 2018 12:00am
Gold rises in Europe
Currency

Gold rises in Europe

Gold edged higher on Friday but is likely to revisit five-week lows after the prospect of a Korean denuclearisation deal eroded bullion's safe-haven appeal. The leaders of South and North Korea embraced after pledging on Friday to work for the "complete d
Published 28 Apr, 2018 12:00am
Trump hosts 'extraordinary woman' Merkel for White House talks
Exchange

Trump hosts 'extraordinary woman' Merkel for White House talks

Donald Trump warmly welcomed German Chancellor Angela Merkel at the White House Friday for talks the US president said would focus on Iran, international trade and military ties. Merkel arrives facing an uphill struggle to save the Iran nuclear deal, avoi
Published 28 Apr, 2018 12:00am
New US envoy Pompeo targets Germany over Nato spending

New US envoy Pompeo targets Germany over Nato spending

New US Secretary of State Mike Pompeo took aim at Germany over its defence spending Friday, using his first Nato meeting to push President Donald Trump's call for allies to shoulder a bigger burden. As a meeting of alliance foreign ministers put on a unit
Published 28 Apr, 2018 12:00am
Trump says Nato helps Europe 'more' than US

Trump says Nato helps Europe 'more' than US

President Donald Trump said Friday he is considering traveling to Israel next month to open the new US embassy, which he controversially ordered moved to Jerusalem from Tel Aviv. "I may go. I'm very proud of it," he said at a White House press conference
Published 28 Apr, 2018 12:00am
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