News Archives for Print - 2018-04-30 - Business Recorder

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Print - 2018-04-30

Shire bid marks Takeda's latest - and biggest - push for global status

Shire bid marks Takeda's latest - and biggest - push for global status

Takeda Pharmaceutical Co Ltd's $64 billion bid for London-listed rare disease specialist Shire Plc bolsters its credentials as Japan's most outward facing drugs firm, a mould-breaking image that has been more than a decade in the making.

Published 30 Apr, 2018 12:00am

Minor changes

Exchange

Minor changes

As a result of corrective measures by the concerned authority, the rupee managed to halt sharp decline against the dollar during the week, ended on 28 April, 2018. In the open market, the rupee fell by 20 paisa in relation to the dollar for buying at Rs 1

Published 30 Apr, 2018 12:00am

US judge blocks Fujifilm, Xerox merger temporarily

US judge blocks Fujifilm, Xerox merger temporarily

Fujifilm Holdings Corp's merger with US firm Xerox Corp was temporarily blocked on Friday following a court ruling, handing its activist investors a win after they sued to stop the deal. The ruling reopened nominations to Xerox's board on Friday after inv

Published 30 Apr, 2018 12:00am

US judge blocks Fujifilm, Xerox merger temporarily

US judge blocks Fujifilm, Xerox merger temporarily

Fujifilm Holdings Corp's merger with US firm Xerox Corp was temporarily blocked on Friday following a court ruling, handing its activist investors a win after they sued to stop the deal. The ruling reopened nominations to Xerox's board on Friday after inv

Published 30 Apr, 2018 12:00am

Sanctions to limit room for Russia's rate cuts, economic growth

Exchange

Sanctions to limit room for Russia's rate cuts, economic growth

The latest round of US sanctions against Moscow will limit scope for rate cuts in Russia as well as room for economic recovery, a Reuters monthly poll of 23 analysts and economists suggested. The new round of sanctions imposed on Russia by the United Stat

Published 30 Apr, 2018 12:00am

Volatile rouble encourages McDonald's to cook up Russian fries

Volatile rouble encourages McDonald's to cook up Russian fries

French fries at McDonald's restaurants from Moscow to Murmansk will be Russian from now on, as the American fast-food chain turns to homegrown potatoes to deal with rouble volatility caused by fluctuating oil prices and Western sanctions.

Published 30 Apr, 2018 12:00am

Barbie helps Mattel revenue despite Toys 'R' Us exit

Barbie helps Mattel revenue despite Toys 'R' Us exit

American toymaker Mattel on Thursday announced better-than-expected first-quarter results - despite the bankruptcy of major retailer Toys "R" Us.

Published 30 Apr, 2018 12:00am

US considers tightening grip on China ties to Corporate America

Currency

US considers tightening grip on China ties to Corporate America

The US government may start scrutinizing informal partnerships between American and Chinese companies in the field of artificial intelligence, threatening practices that have long been considered garden variety development work for technology companies, s

Published 30 Apr, 2018 12:00am

Jilted Akorn sues Fresenius over deal termination

Jilted Akorn sues Fresenius over deal termination

US generic drugmaker Akorn is taking former suitor Fresenius to court after the German healthcare group cancelled their $4.75 billion takeover agreement. Akorn shares lost more than a third of their value on Monday, the day after Fresenius pulled out of a

Published 30 Apr, 2018 12:00am

Germany sees US imposing tariffs on EU from May 1

Germany sees US imposing tariffs on EU from May 1

Germany expects Washington to impose punitive tariffs on EU aluminium and steel imports from May 1, a government source said Thursday, hours before Chancellor Angela Merkel was to head for the United States. "From today's perspective, we must assume that

Published 30 Apr, 2018 12:00am

Germany sees US imposing tariffs on EU from May 1

Germany sees US imposing tariffs on EU from May 1

Germany expects Washington to impose punitive tariffs on EU aluminium and steel imports from May 1, a government source said Thursday, hours before Chancellor Angela Merkel was to head for the United States. "From today's perspective, we must assume that

Published 30 Apr, 2018 12:00am

Weak business morale from Germany, France, Italy points to slowdown

Currency

Weak business morale from Germany, France, Italy points to slowdown

Business morale in Germany, France and Italy - the euro zone's three biggest economies - deteriorated in April as a stronger currency and capacity constraints limited output, signalling that growth in the currency bloc has reached its peak.

Published 30 Apr, 2018 12:00am

Lufthansa cuts Q1 losses as it digests Air Berlin

Lufthansa cuts Q1 losses as it digests Air Berlin

German airline giant Lufthansa said Thursday it had pared back losses in the first quarter, but confirmed it expects a slightly leaner result over the full year than in 2017. The group booked a net loss of 57 million euros ($69 million) between January an

Published 30 Apr, 2018 12:00am

Lufthansa cuts Q1 losses as it digests Air Berlin

Lufthansa cuts Q1 losses as it digests Air Berlin

German airline giant Lufthansa said Thursday it had pared back losses in the first quarter, but confirmed it expects a slightly leaner result over the full year than in 2017. The group booked a net loss of 57 million euros ($69 million) between January an

Published 30 Apr, 2018 12:00am

Reliance says Jio telecom venture hikes profit

Reliance says Jio telecom venture hikes profit

India's oil-to-telecom conglomerate Reliance Industries on Friday said its telecoms venture Jio reported its second successive quarterly net profit since launching two years ago, as it added millions more subscribers. Reliance Industries, owned by Asia's

Published 30 Apr, 2018 12:00am

Profits at Japan's ANA soar as rival JAL sinks further

Profits at Japan's ANA soar as rival JAL sinks further

Japanese airline ANA on Friday posted record profits, while the bottom line worsened for rival JAL, and both carriers said they expected higher costs to eat into this year's earnings. ANA Holdings reported its largest-ever net profit of 143.9 billion yen

Published 30 Apr, 2018 12:00am

Profits at Japan's ANA soar as rival JAL sinks further

Profits at Japan's ANA soar as rival JAL sinks further

Japanese airline ANA on Friday posted record profits, while the bottom line worsened for rival JAL, and both carriers said they expected higher costs to eat into this year's earnings. ANA Holdings reported its largest-ever net profit of 143.9 billion yen

Published 30 Apr, 2018 12:00am

Sweden to top Scandinavia's growth table in 2018

Sweden to top Scandinavia's growth table in 2018

The Swedish economy will continue to outperform Scandinavian peers in 2018, but is set to slow next year as the region's growth converges around 2 percent, a Reuters poll of economists published on Thursday predicted. In 2017, all three countries grew mor

Published 30 Apr, 2018 12:00am

EOG seeking to pull out of British North Sea

EOG seeking to pull out of British North Sea

US oil and gas producer EOG Resources Inc is selling its British offshore business, a document seen by Reuters showed, as the company heightens its focus on its fast-growing US shale portfolio. A spokesman for Houston-based EOG confirmed the sale process

Published 30 Apr, 2018 12:00am

Exports propel Taiwan's Q1 GDP, but tech cycle peaking

Exports propel Taiwan's Q1 GDP, but tech cycle peaking

Taiwan's economic growth stayed resilient in the first quarter despite signs that global technology demand is softening, fuelling optimism the island's export strength can be sustained. First quarter gross domestic product expanded 3.04 percent from a yea

Published 30 Apr, 2018 12:00am

Linde confident for Praxair merger after strong Q1

Exchange

Linde confident for Praxair merger after strong Q1

German industrial gases group Linde confirmed its objectives for 2018 Wednesday after a strong first quarter, as it eyes a jumbo tie-up with US rival Praxair in the second half. Profit attributable to shareholders from continuing operations increased 23.5

Published 30 Apr, 2018 12:00am

Norsk Hydro earnings jump despite Brazil scandal

Norsk Hydro earnings jump despite Brazil scandal

A surge in aluminium prices helped Norwegian metals and energy giant Norsk Hydro to rising profits, figures released on Wednesday showed, though an environmental scandal in Brazil threatens to dull its shiny outlook.

Published 30 Apr, 2018 12:00am

Norsk Hydro earnings jump despite Brazil scandal

Norsk Hydro earnings jump despite Brazil scandal

A surge in aluminium prices helped Norwegian metals and energy giant Norsk Hydro to rising profits, figures released on Wednesday showed, though an environmental scandal in Brazil threatens to dull its shiny outlook.

Published 30 Apr, 2018 12:00am

World Bank fund for poorest countries issues $1.5 billion bond

World Bank fund for poorest countries issues $1.5 billion bond

The World Bank fund dedicated to helping the world's poorest countries on Tuesday announced it has raised $1.5 billion in its first-ever global bond issue, which enjoyed huge demand from investors. The International Development Association (IDA) issued a

Published 30 Apr, 2018 12:00am

World Bank fund for poorest countries issues $1.5 billion bond

World Bank fund for poorest countries issues $1.5 billion bond

The World Bank fund dedicated to helping the world's poorest countries on Tuesday announced it has raised $1.5 billion in its first-ever global bond issue, which enjoyed huge demand from investors. The International Development Association (IDA) issued a

Published 30 Apr, 2018 12:00am

Costa Coffee to go solo pressed by investors

Costa Coffee to go solo pressed by investors

Latte king Costa Coffee is to go it alone following pressure from activist shareholders on Whitbread, the global coffee chain's parent company, a statement said Wednesday. UK company Whitbread, which will hold onto hotel chain Premier Inn, said the spin-o

Published 30 Apr, 2018 12:00am

Banco Santander posts profit rise

Exchange

Banco Santander posts profit rise

Spain's banking giant Banco Santander on Tuesday posted a 10 percent rise in its first quarter net profit, with good results in the country offsetting a poor performance in the United Kingdom. The eurozone's largest bank by market capitalisation said its

Published 30 Apr, 2018 12:00am

Banco Santander posts profit rise

Exchange

Banco Santander posts profit rise

Spain's banking giant Banco Santander on Tuesday posted a 10 percent rise in its first quarter net profit, with good results in the country offsetting a poor performance in the United Kingdom. The eurozone's largest bank by market capitalisation said its

Published 30 Apr, 2018 12:00am

New electronic system to speed up Iraqi election results

New electronic system to speed up Iraqi election results

A new electronic system will deliver the results of Iraq's upcoming national election within hours of polls closing, the country's chief electoral officer said, a marked improvement from previous years when it took weeks to announce the outcome.

Published 30 Apr, 2018 12:00am

BoE's Woods downplays Brexit job losses at banks

BoE's Woods downplays Brexit job losses at banks

Job moves from Britain's financial sector to the European Union by Brexit Day on March 29, 2019, may not be as high as initially estimated, the Bank of England said on Thursday. Sam Woods, BoE deputy governor for banking supervision, had told British lawm

Published 30 Apr, 2018 12:00am

UK finance firms urged to work together to fight cyber crime

UK finance firms urged to work together to fight cyber crime

Britain's financial firms need to pull together to fight cyber crime, working with government and law enforcement to attack criminals' infrastructure and put them out of business, a report by KPMG and industry body UK Finance said on Monday.

Published 30 Apr, 2018 12:00am

Sulphur scrubbers 'no silver bullet' for shipping industry

Sulphur scrubbers 'no silver bullet' for shipping industry

Shipping industry hopes that so-called sulphur scrubbers are a quick-fix solution to compliance with drastic emissions reduction demanded by 2020 are somewhat misguided, one of the world's biggest manufacturers of the equipment told Reuters. The Internati

Published 30 Apr, 2018 12:00am

Unilever spreads the love from margarine sale

Exchange

Unilever spreads the love from margarine sale

Anglo-Dutch consumer giant Unilever Thursday announced a six billion euros ($7.4 billion) buy-back scheme ahead of the spin-off of its spreads division, as it braces for major company changes. Sales however in the first quarter were down 5.2 percent to 12

Published 30 Apr, 2018 12:00am

Venezuelan banks shrivel as inflation roars and credit dries up

Currency

Venezuelan banks shrivel as inflation roars and credit dries up

Venezuela's hyperinflation has turned the struggling Opec nation's once-powerful banks into warehouses of useless cash that are worth a total of only $40 million, according to a Reuters analysis of regulatory data.

Published 30 Apr, 2018 12:00am

India shows jobs growth as more than 3m join social security fund

India shows jobs growth as more than 3m join social security fund

More than three million workers joined India's state-run social security fund in six months through February, giving Prime Minister Narendra Modi some ammunition to defend his record on creating jobs ahead of a general election due next year.

Published 30 Apr, 2018 12:00am

S&P analyst says Poland's rating upgrade will hinge on deficit

S&P analyst says Poland's rating upgrade will hinge on deficit

Poland's credit rating might be raised if its fiscal deficit stays around 2 percent of gross domestic product for the next two years, an analyst for S&P Global Ratings said on Wednesday. The ratings agency changed its the outlook on Poland's rating to pos

Published 30 Apr, 2018 12:00am

S&P analyst says Poland's rating upgrade will hinge on deficit

S&P analyst says Poland's rating upgrade will hinge on deficit

Poland's credit rating might be raised if its fiscal deficit stays around 2 percent of gross domestic product for the next two years, an analyst for S&P Global Ratings said on Wednesday. The ratings agency changed its the outlook on Poland's rating to pos

Published 30 Apr, 2018 12:00am

Amazon era means tough profit road for P&G

Amazon era means tough profit road for P&G

Procter & Gamble vowed to accelerate efforts to compete on price and product innovation Thursday as it reported another round of lackluster results that underscored the challenges of the Amazon era. The consumer products giant, whose offerings include Cre

Published 30 Apr, 2018 12:00am

Amazon era means tough profit road for P&G

Amazon era means tough profit road for P&G

Procter & Gamble vowed to accelerate efforts to compete on price and product innovation Thursday as it reported another round of lackluster results that underscored the challenges of the Amazon era. The consumer products giant, whose offerings include Cre

Published 30 Apr, 2018 12:00am

Australian economy set for steady growth, barring trade shock

Australian economy set for steady growth, barring trade shock

Australia may extend its remarkable recession-free run out to 2020 as government and firms invest to cater for a rapidly-growing population, though trade tensions abroad have emerged as a new threat to the export-sensitive nation.

Published 30 Apr, 2018 12:00am

Bank of England expects big Libor switch to start in earnest

Libor

Bank of England expects big Libor switch to start in earnest

Financial markets should start accelerating efforts to ditch Libor in favour of the Bank of England's revamped interest rate benchmark being launched next week, a senior BoE official said. Banks have been fined around $9 billion for trying to rig Libor, o

Published 30 Apr, 2018 12:00am

Russia remains China's top oil supplier for a 13th month in March

Russia remains China's top oil supplier for a 13th month in March

Russia was China's largest crude oil supplier in March, data showed on Tuesday, retaining the lead spot for a 13th consecutive month. Last month, Russia supplied 5.79 million tonnes, equal to 1.36 million barrels per day (bpd), up 23.6 percent from the sa

Published 30 Apr, 2018 12:00am

Papua New Guinea PM says country to launch first Eurobond

Papua New Guinea PM says country to launch first Eurobond

Papua New Guinea will launch its first Eurobond this year, as higher energy prices and a recovery in liquefied natural gas production to pre-earthquake levels ease strains on its public finances, Prime Minister Peter O'Neill said on Tuesday.

Published 30 Apr, 2018 12:00am

Papua New Guinea PM says country to launch first Eurobond

Papua New Guinea PM says country to launch first Eurobond

Papua New Guinea will launch its first Eurobond this year, as higher energy prices and a recovery in liquefied natural gas production to pre-earthquake levels ease strains on its public finances, Prime Minister Peter O'Neill said on Tuesday.

Published 30 Apr, 2018 12:00am

Swiss National Bank flummoxed by its soaring share price

Swiss National Bank flummoxed by its soaring share price

An extraordinary rise in the Swiss National Bank's stock this year has prompted its president to remind buyers that the central bank's are no ordinary shares. The price of the SNB's 100,000 shares rose from below 2,000 Swiss francs each a year ago to a pe

Published 30 Apr, 2018 12:00am

China issuers warm to Bond Connect

China issuers warm to Bond Connect

Chinese issuers are increasingly targeting global investors for domestic bond offerings, as they look to take advantage of growing demand for onshore renminbi securities to broaden their investor relationships. State-owned Central Huijin Investment last w

Published 30 Apr, 2018 12:00am

China issuers warm to Bond Connect

China issuers warm to Bond Connect

Chinese issuers are increasingly targeting global investors for domestic bond offerings, as they look to take advantage of growing demand for onshore renminbi securities to broaden their investor relationships. State-owned Central Huijin Investment last w

Published 30 Apr, 2018 12:00am

EU gives Nestle a thumbs down in Kit Kat finger row

EU gives Nestle a thumbs down in Kit Kat finger row

The European Union's top court should cancel Swiss food giant Nestle's trademark for the shape of the Kit Kat chocolate bar, the court's top adviser said Thursday. Nestle has been locked in a decade-long battle with US rival Mondelez, maker of Cadbury cho

Published 30 Apr, 2018 12:00am

EU gives Nestle a thumbs down in Kit Kat finger row

EU gives Nestle a thumbs down in Kit Kat finger row

The European Union's top court should cancel Swiss food giant Nestle's trademark for the shape of the Kit Kat chocolate bar, the court's top adviser said Thursday. Nestle has been locked in a decade-long battle with US rival Mondelez, maker of Cadbury cho

Published 30 Apr, 2018 12:00am

Nigeria's C&I Leasing eyes fresh capital for expansion

Exchange

Nigeria's C&I Leasing eyes fresh capital for expansion

Nigeria's biggest and oldest leasing firm, C&I Leasing, plans to raise funds to buy more vessels to lease to oil companies and expand its business in Ghana as Dubai-based private equity firm Abraaj exits, its chief executive said.

Published 30 Apr, 2018 12:00am

Foreign investment in Tunisia rises by a quarter at start of 2018

Foreign investment in Tunisia rises by a quarter at start of 2018

Foreign direct investment in Tunisia rose by 27 percent in the first quarter this year compared with a year earlier, official figures showed on Thursday, as the government seeks to cut red tape to attract new investment.

Published 30 Apr, 2018 12:00am

European utilities retrench as cross-border deals lose appeal

European utilities retrench as cross-border deals lose appeal

European utility companies are retrenching in their home markets and looking to unwind debt-financed cross-border merger deals as increasingly nationalist governments balk at foreign ownership of strategic power supplies.

Published 30 Apr, 2018 12:00am

Saudi reforms should bring flood of foreign funds next year

Exchange

Saudi reforms should bring flood of foreign funds next year

Saudi Arabia's inclusion in global equity indexes and the planned privatisation of oil company Aramco are expected to bring big inflows of overseas money into the kingdom next year. This should help Riyadh rebuild its financial reserves and fund investmen

Published 30 Apr, 2018 12:00am

Saudi reforms should bring flood of foreign funds next year

Exchange

Saudi reforms should bring flood of foreign funds next year

Saudi Arabia's inclusion in global equity indexes and the planned privatisation of oil company Aramco are expected to bring big inflows of overseas money into the kingdom next year. This should help Riyadh rebuild its financial reserves and fund investmen

Published 30 Apr, 2018 12:00am

Royal Mail CEO to step down

Royal Mail CEO to step down

Britain's Royal Mail on Friday said chief executive Moya Greene would retire in September after eight years in the role, during which time she put her stamp on the postal service's massive privatisation drive. Under Greene, Royal Mail underwent the bigges

Published 30 Apr, 2018 12:00am

Global economy sprinting ahead but trade war could end the race

Exchange

Global economy sprinting ahead but trade war could end the race

The global economy will race further ahead this year, expanding at its fastest pace since 2010, but trade protectionism has the potential to quickly tire it out, the latest Reuters polls of over 500 economists worldwide suggest. The risk of a trade war be

Published 30 Apr, 2018 12:00am

China says can control Sino-US trade-row impact on capital flows

Exchange

China says can control Sino-US trade-row impact on capital flows

China's foreign exchange regulator said that any potential impact on the nation's cross border capital flows stemming from Sino-US trade frictions can be controlled, and vowed to continue with plans to further open up capital markets in the world's second

Published 30 Apr, 2018 12:00am

Australia employment soft in March, record run ruined by revisions

Australia employment soft in March, record run ruined by revisions

Australian employment barely rose in March while a sharp downward revision to February ruined a record-breaking run of gains, a disappointing outcome that hurt the local dollar and reinforced the case against a rate hike.

Published 30 Apr, 2018 12:00am

Battling passive funds, AllianzGI to launch UK performance fee option

Exchange

Battling passive funds, AllianzGI to launch UK performance fee option

Asset manager Allianz Global Investors is to offer British retail clients the chance to pay a lower yearly fee for some of its UK equity funds if they are prepared to give up a slice of any outperformance. The move is the latest attempt by an active fund

Published 30 Apr, 2018 12:00am

Battling passive funds, AllianzGI to launch UK performance fee option

Exchange

Battling passive funds, AllianzGI to launch UK performance fee option

Asset manager Allianz Global Investors is to offer British retail clients the chance to pay a lower yearly fee for some of its UK equity funds if they are prepared to give up a slice of any outperformance. The move is the latest attempt by an active fund

Published 30 Apr, 2018 12:00am

US signals support for increase in World Bank funding

Exchange

US signals support for increase in World Bank funding

US Treasury Secretary Steven Mnuchin signalled Washington would support the World Bank request for a sharp increase in lending capacity in exchange for reforms to curb loans to higher income countries like China.

Published 30 Apr, 2018 12:00am

China Fosun dials up tourism push with $1.74 billion Atlantis Sanya luxury resort

China Fosun dials up tourism push with $1.74 billion Atlantis Sanya luxury resort

China's Fosun International Ltd on Saturday launched its Atlantis Sanya luxury resort in a $1.74 billion bet that the sail-shaped development will become an icon in Hainan - China's Hawaii - and a beacon to both domestic and foreign tourists.

Published 30 Apr, 2018 12:00am

Chip wars: China closing in on second $19 billion semiconductor fund

Chip wars: China closing in on second $19 billion semiconductor fund

China's state-backed semiconductor fund is near to closing a 120 billion yuan ($18.98 billion) investment round for a second fund to support the domestic chip sector and help cut reliance on imports amid a bruising trade standoff with the United States.

Published 30 Apr, 2018 12:00am

Wanda opens doors to Chinese film metropolis but turns focus back home

Wanda opens doors to Chinese film metropolis but turns focus back home

Wang Jianlin, the billionaire boss of China's Dalian Wanda Group, said on Saturday he will turn the northern port city of Qingdao into a global film production hub as he launched a sprawling studio complex in a ceremony attended by hundreds.

Published 30 Apr, 2018 12:00am

Palestinian UN aid still $200 million short after Trump cuts

Palestinian UN aid still $200 million short after Trump cuts

Emergency food aid for around a million Palestinians in Gaza may run out from June if the UN agency for Palestinian refugees cannot raise another $200 million following a cut-off in US funding, the agency said on Tuesday.

Published 30 Apr, 2018 12:00am

Zimbabwe says will issue cannabis licences to growers

Zimbabwe says will issue cannabis licences to growers

Zimbabweans can now apply for licences to grow cannabis for medical and research purposes, the government has said in a legal notice, making the southern African nation the second country in Africa to legalise cultivation of the plant. Lesotho last year a

Published 30 Apr, 2018 12:00am

Lockheed lauds US arms sales push, sees foreign sales rising

Lockheed lauds US arms sales push, sees foreign sales rising

Top US weapons maker Lockheed Martin Corp welcomed a push by US President Donald Trump to speed up approvals of arms sales, saying it would reassure allies who had been frustrated by bureaucratic delays in the past. The Trump administration last week roll

Published 30 Apr, 2018 12:00am

Norwegian plastics recycler Tomra seeks to expand in China

Norwegian plastics recycler Tomra seeks to expand in China

Norway's Tomra, the world's top maker of machines that collect plastic bottles and repay a deposit, is seeking to expand in China as governments worldwide work to limit waste, Chief Executive Stefan Ranstrand said on Wednesday.

Published 30 Apr, 2018 12:00am

Gates backs gene technologies in fight to end malaria

Gates backs gene technologies in fight to end malaria

Gene-editing technologies that alter mosquitoes' DNA could prove critical in the fight against malaria, Bill Gates said on Wednesday, and ethical concerns should not block progress in such gene-modifying research. Speaking at the Malaria Forum conference

Published 30 Apr, 2018 12:00am

PSA Peugeot Citroen rides to higher sales, backed by Opel Vauxhall

PSA Peugeot Citroen rides to higher sales, backed by Opel Vauxhall

French carmarker PSA Peugeot Citroen said Tuesday its acquisition of the Opel and Vauxhall brands last year helped drive sales up more than 42 percent in the first quarter. The auto giant said it had seen a growth in sales volume around the world, "with a

Published 30 Apr, 2018 12:00am

Nuggets of contention: Chinese mine gold in Cameroon Focus

Nuggets of contention: Chinese mine gold in Cameroon Focus

Killings, land grabs, corruption... tensions and violence are rising in eastern Cameroon as Chinese firms take advantage of a regulatory twilight zone to mine gold. "There are constant conflicts between Cameroonians and the Chinese" over gold mining, said

Published 30 Apr, 2018 12:00am

India claims top spot for 2018 growth among major economies

Currency

India claims top spot for 2018 growth among major economies

India will claim the top spot among the world's fastest-growing major economies this year, but rising trade tensions between the United States and China may restrain that growth, a Reuters poll of economists showed. The recent tit-for-tat import tariffs i

Published 30 Apr, 2018 12:00am

AkzoNobel splashes out as Q1 profits paint rosy picture

AkzoNobel splashes out as Q1 profits paint rosy picture

Leading global paintmaker AkzoNobel Tuesday posted rising first quarter profits and after a turbulent year in 2017 hailed its transformation into a focused paints company. Last month the company announced it was selling its chemicals arm to US-based inves

Published 30 Apr, 2018 12:00am

AkzoNobel splashes out as Q1 profits paint rosy picture

AkzoNobel splashes out as Q1 profits paint rosy picture

Leading global paintmaker AkzoNobel Tuesday posted rising first quarter profits and after a turbulent year in 2017 hailed its transformation into a focused paints company. Last month the company announced it was selling its chemicals arm to US-based inves

Published 30 Apr, 2018 12:00am

India's Idea Cellular posts sixth straight quarterly loss

India's Idea Cellular posts sixth straight quarterly loss

Idea Cellular Ltd, India's third-biggest telecoms carrier, posted a sixth straight quarterly net loss that was narrower than expected but showed the firm continues to battle intense competition sparked by upstart rival Reliance Jio. The company said on Sa

Published 30 Apr, 2018 12:00am

India's Idea Cellular posts sixth straight quarterly loss

India's Idea Cellular posts sixth straight quarterly loss

Idea Cellular Ltd, India's third-biggest telecoms carrier, posted a sixth straight quarterly net loss that was narrower than expected but showed the firm continues to battle intense competition sparked by upstart rival Reliance Jio. The company said on Sa

Published 30 Apr, 2018 12:00am

Swiss bank UBS books strong first quarter

Swiss bank UBS books strong first quarter

Swiss banking giant UBS said Monday it delivered strong first-quarter results driven largely by its investment banking and wealth management activities. UBS, which is the world's largest Swiss banking institution, said in a statement that net profits for

Published 30 Apr, 2018 12:00am

Swiss bank UBS books strong first quarter

Swiss bank UBS books strong first quarter

Swiss banking giant UBS said Monday it delivered strong first-quarter results driven largely by its investment banking and wealth management activities. UBS, which is the world's largest Swiss banking institution, said in a statement that net profits for

Published 30 Apr, 2018 12:00am

China's top refiners plan Q2 maintenance, cast doubts on global oil optimism

China's top refiners plan Q2 maintenance, cast doubts on global oil optimism

Some of China's top refineries will shut in May and June for maintenance, cutting nationwide throughput by some 10 percent and dampening oil demand in the world's largest crude importer after record run levels in March, according to a Reuters survey.

Published 30 Apr, 2018 12:00am

South Korean economy rebounds in Q1 on exports, government spending

South Korean economy rebounds in Q1 on exports, government spending

South Korea's economy bounced back last quarter, buoyed by booming exports of data memory chips and a boost from government spending, although private consumption was sluggish. Thursday's Bank of Korea GDP report showed the economy expanded 1.1 percent in

Published 30 Apr, 2018 12:00am

Peak or pause? Global economy's hesitation unnerves markets

Peak or pause? Global economy's hesitation unnerves markets

World markets entered 2018 speculating that the most synchronised global economic expansion in a decade was about to overheat but growth has since proved underwhelming. While missile strikes and threats of a global trade war have hogged the headlines, it'

Published 30 Apr, 2018 12:00am

Embraer posts $12.3m first quarter loss

Embraer posts $12.3m first quarter loss

Brazil's Embraer, the third biggest aircraft manufacturer in the world, posted a first quarter loss of $12.3 million Friday, also saying that a much-anticipated tie-up with Boeing is still up in the air. The losses compared to profits of $53 million in th

Published 30 Apr, 2018 12:00am

Embraer posts $12.3m first quarter loss

Embraer posts $12.3m first quarter loss

Brazil's Embraer, the third biggest aircraft manufacturer in the world, posted a first quarter loss of $12.3 million Friday, also saying that a much-anticipated tie-up with Boeing is still up in the air. The losses compared to profits of $53 million in th

Published 30 Apr, 2018 12:00am

Weapons stolen from UAE training facility in Somalia, sold on open market

Weapons stolen from UAE training facility in Somalia, sold on open market

At least 600 weapons were stolen in the past week from a former United Arab Emirates-run training centre in Somalia's capital Mogadishu and are for sale in the city, weapons dealers said on Wednesday. The weapons, including new Kalashnikov assault rifles

Published 30 Apr, 2018 12:00am

KP XI beat Chinese Embassy XI team in football friendly match

KP XI beat Chinese Embassy XI team in football friendly match

Center striker and skipper of Director General Sports KP XI Ijaz Ahmad's two quick goals rallies guided his team to a 5-3 thrilling victory against strong Chinese Embassy XI team in a football friendly match played at Army Burn-Hall School and College Abb

Published 30 Apr, 2018 12:00am

AC Milan back winning in Bologna to keep Europa League push alive

AC Milan back winning in Bologna to keep Europa League push alive

AC Milan returned to winning ways with a 2-1 success at Bologna keeping Gennaro Gattuso's side in the chase for European football next season. Milan had dropped out of the Europa League places into seventh after a six-game winless streak including last we

Published 30 Apr, 2018 12:00am

Slick City equal Premier League win record

Slick City equal Premier League win record

Manchester City equalled the Premier League record for most wins in a season as the imperious champions powered to a 4-1 victory at West Ham on Sunday. Pep Guardiola's side now have 30 wins this term, matching the record set by Chelsea last season, and wi

Published 30 Apr, 2018 12:00am

Japan ace stuns Chen for Asian badminton title

Japan ace stuns Chen for Asian badminton title

Japan's Kento Momota shocked Olympic gold-medallist Chen Long to be crowned badminton's Asian champion in a stunning upset on Sunday. The world number 17 had never previously won a game against Chen, but he floored the strong Chinese favourite 21-17, 21-1

Published 30 Apr, 2018 12:00am

No play on second day of Kent against Pakistan

No play on second day of Kent against Pakistan

Persistent drizzle and bad light meant play on the second day of Pakistan's tour opener against Kent at Canterbury was abandoned without a ball bowled on Sunday. When the players should have been taking the field at 11:00am local time (1000 GMT) for the s

Published 30 Apr, 2018 12:00am

Ancelotti turns down Italy coaching job

Ancelotti turns down Italy coaching job

Carlo Ancelotti has turned down the offer to take over as Italy coach, according to press reports on Sunday. Italy have been without a permanent coach since Gian Piero Ventura was sacked after the four-time champions failed to qualify for the World Cup fo

Published 30 Apr, 2018 12:00am

Celtic secure another Scottish title

Celtic secure another Scottish title

Celtic hammered arch Glasgow rivals Rangers 5-0 to secure a seventh successive Scottish title with an emphatic Old Firm victory on Sunday. This win, achieved in front of their own fans at Celtic Park, gave Brendan Rodgers' side an unassailable 10-point le

Published 30 Apr, 2018 12:00am

Pliskova wins Stuttgart title

Pliskova wins Stuttgart title

Karolina Pliskova recovered from a slow start to beat CoCo Vandeweghe 7-6 (7/2), 6-4 and claim the Stuttgart Grand Prix title on Sunday. The Czech fifth seed earned the second clay trophy of her career after Prague three years ago. She was the first from

Published 30 Apr, 2018 12:00am

PSG say Neymar will return to Paris before World Cup

PSG say Neymar will return to Paris before World Cup

Paris Saint-Germain responded to reports from Brazil on Neymar's fitness by suggesting on Sunday that his recovery from injury would continue in France. Neymar has been in Brazil since undergoing surgery on a broken foot and is aiming to be fit for the Wo

Published 30 Apr, 2018 12:00am

Hamilton wins chaotic Baku battle to lead title race

Hamilton wins chaotic Baku battle to lead title race

Defending world champion Lewis Hamilton claimed his first win of 2018 on Sunday and took over as leader of the title race when he triumphed in a dramatic, crash and incident-strewn Azerbaijan Grand Prix. The 33-year-old Briton managed to steer his Mercede

Published 30 Apr, 2018 12:00am

Nadal cruises to 11th Barcelona title

Nadal cruises to 11th Barcelona title

Rafael Nadal won his 11th Barcelona title on Sunday when he breezed past Greek teenager Stefanos Tsitsipas 6-2, 6-1 in the final. It was world number one Nadal's 55th career clay-court title while he also extended his winning streak on the surface to 46 c

Published 30 Apr, 2018 12:00am

Progress toward 'infinitely recyclable' plastic

Progress toward 'infinitely recyclable' plastic

US scientists said on Thursday they have made progress toward a kind of plastic that can be recycled "infinitely," and that it appears durable enough to compete with regular plastics. Unlike plastics made from petroleum products, the new kind can be conve

Published 30 Apr, 2018 12:00am

Enzyme that affects ageing, cancer decoded: study

Enzyme that affects ageing, cancer decoded: study

Elated scientists announced on Wednesday the completion of a 20-year quest to map the complex enzyme thought to forestall ageing by repairing the tips of chromosomes in plants and animals, including humans. Decoding the architecture of the enzyme, called

Published 30 Apr, 2018 12:00am

Exercise, not vitamins, urged to prevent falls in seniors

Exercise, not vitamins, urged to prevent falls in seniors

Falling is the leading cause of injury-related death among people over age 65, and seniors who want to avoid falls should exercise, not rely on supplements like vitamin D, US guidelines said on Tuesday. The new recommendations from the US Preventive Servi

Published 30 Apr, 2018 12:00am

EU warns about green tea supplements

EU warns about green tea supplements

Taking high doses of supplements containing green tea extracts may be associated with liver damage, according to new research from the European Food Safety Authority (EFSA). Tea infusions, as used for brewed tea, are still considered safe. Instant tea dri

Published 30 Apr, 2018 12:00am

EU wants coordinated vaccine push against measles, other diseases

EU wants coordinated vaccine push against measles, other diseases

The European Commission urged EU member states on Thursday to cooperate more closely in fighting diseases such as measles and flu, saying vaccines against them were among the most powerful and cost-effective public health measures. Setting out the Commiss

Published 30 Apr, 2018 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Sep 20	277.90
USD PKR Interbank Buying / Sep 20	277.70
USD to Japanese Yen / Sep 20	143.85
USD to Swiss Franc / Sep 20	0.85
Pound Sterling to USD / Sep 20	1.33
Euro to USD / Sep 20	1.12

Stock	Volume
S&P 500 / Sep 20	5,702.55
India Sensex / Sep 20	83,184.80
Tokyo Nikkei / Sep 20	37,723.91
Nasdaq / Sep 20	17,948.32
Hang Seng / Sep 20	18,258.57
FTSE 100 / Sep 20	8,229.99
Dow Jones / Sep 20	42,063.36
Germany DAX 30 / Sep 20	18,720.01

Item	Value
Crude Oil USD/Barrel / Sep 20	71.92
Gold Spot USD/Ounce / Sep 20	2,621.88
Cotton US¢/pound / Sep 20	73.52
Petrol/Litre / Sep 21	249.10
Karachi Cotton PKR/37.32 KG / Sep 21	18,935
Gold 10 Grams PKR / Sep 21	233,625

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Sep 21 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Sep 21 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Sep 21 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Sep 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Sep 21 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Sep 21 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Sep 21 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Sep 21 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Sep 21 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Sep 21 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Sep 21 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Sep 21 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Sep 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Sep 21 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Sep 21 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Sep 21 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Sep 21 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Sep 21 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Sep 21 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Sep 21 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Sep 21 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Sep 21 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Sep 21 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Sep 21 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Sep 21 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Sep 21 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Sep 21 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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Basmati price: Pakistan’s rice export boom ends after India’s move

Basmati price: Pakistan’s rice export boom ends after India’s move

Two Pakistani female peacekeepers honoured

Two Pakistani female peacekeepers honoured

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Good news on revised IPP deals in a few weeks: power minister Awais

Good news on revised IPP deals in a few weeks: power minister Awais

Chinese investment company to set up textile parks

Chinese investment company to set up textile parks

Pakistan’s power generation falls sharply amid rising costs, solarisation

Pakistan’s power generation falls sharply amid rising costs, solarisation

PM approves FBR’s home-grown makeover

PM approves FBR’s home-grown makeover

Bidding for PIACL to be held on Oct 1

Bidding for PIACL to be held on Oct 1

FFBL board approves merger with Fauji Fertilizer

FFBL board approves merger with Fauji Fertilizer