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Nov 24, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2018-05-02
Power shortfall soars to 6,000MW as NTDC lines trip

Power shortfall soars to 6,000MW as NTDC lines trip

The country is facing shortfall of 6,000MW which implies generation was around 14MW against demand of 2,000MW due to which unscheduled load shedding was unleaded. Well-informed sources told Business Recorder that thousands of feeders across the cou
Published 02 May, 2018 12:00am
Foreign investors sell $17.415 million equities in April

Foreign investors sell $17.415 million equities in April

The outflows of Foreign Investors Portfolio Investment (FIPI) continued during the current calendar year due to offshore investor concerns over political and economic situation of the country. Foreign investors sold out equities worth over $17.415 million
Published 02 May, 2018 12:00am
Foreign investors sell $17.415 million equities in April

Foreign investors sell $17.415 million equities in April

The outflows of Foreign Investors Portfolio Investment (FIPI) continued during the current calendar year due to offshore investor concerns over political and economic situation of the country. Foreign investors sold out equities worth over $17.415 million
Published 02 May, 2018 12:00am
Foreign investors sell $17.415 million equities in April

Foreign investors sell $17.415 million equities in April

The outflows of Foreign Investors Portfolio Investment (FIPI) continued during the current calendar year due to offshore investor concerns over political and economic situation of the country. Foreign investors sold out equities worth over $17.415 million
Published 02 May, 2018 12:00am
PM inaugurates long-delayed Islamabad International Airport

PM inaugurates long-delayed Islamabad International Airport

Prime Minister Shahid Khaqan Abbasi on Tuesday inaugurated the long-delayed first ever greenfield Islamabad International Airport, replacing the tiny overcrowded Benazir Bhutto airport, ending the congestion which had frustrated air travel in the past. A
Published 02 May, 2018 12:00am
PM inaugurates long-delayed Islamabad International Airport

PM inaugurates long-delayed Islamabad International Airport

Prime Minister Shahid Khaqan Abbasi on Tuesday inaugurated the long-delayed first ever greenfield Islamabad International Airport, replacing the tiny overcrowded Benazir Bhutto airport, ending the congestion which had frustrated air travel in the past. A
Published 02 May, 2018 12:00am
PM inaugurates long-delayed Islamabad International Airport

PM inaugurates long-delayed Islamabad International Airport

Prime Minister Shahid Khaqan Abbasi on Tuesday inaugurated the long-delayed first ever greenfield Islamabad International Airport, replacing the tiny overcrowded Benazir Bhutto airport, ending the congestion which had frustrated air travel in the past. A
Published 02 May, 2018 12:00am
Britain demands overseas tax havens open up

Britain demands overseas tax havens open up

Britain''s overseas territories will be required to publicly reveal who ultimately owns the companies registered there after the government on Tuesday bowed to MPs'' demands to improve transparency in tax havens. Territories such as the Cayman Islands, th
Published 02 May, 2018 12:00am
Britain demands overseas tax havens open up

Britain demands overseas tax havens open up

Britain's overseas territories will be required to publicly reveal who ultimately owns the companies registered there after the government on Tuesday bowed to MPs' demands to improve transparency in tax havens. Territories such as the Cayman Islands, the
Published 02 May, 2018 12:00am
Britain demands overseas tax havens open up

Britain demands overseas tax havens open up

Britain's overseas territories will be required to publicly reveal who ultimately owns the companies registered there after the government on Tuesday bowed to MPs' demands to improve transparency in tax havens. Territories such as the Cayman Islands, the
Published 02 May, 2018 12:00am
Services trade posts $3.84 billion deficit in nine months
Exchange

Services trade posts $3.84 billion deficit in nine months

Services trade deficit rose sharply by 34 percent during the first nine months (July-March) of this fiscal year (FY18), mainly due to higher import bill and lower export proceeds. Economists said that rising service trade deficit will put further pressure
Published 02 May, 2018 12:00am
Services trade posts $3.84 billion deficit in nine months
Exchange

Services trade posts $3.84 billion deficit in nine months

Services trade deficit rose sharply by 34 percent during the first nine months (July-March) of this fiscal year (FY18), mainly due to higher import bill and lower export proceeds. Economists said that rising service trade deficit will put further pressure
Published 02 May, 2018 12:00am
Services trade posts $3.84 billion deficit in nine months
Exchange

Services trade posts $3.84 billion deficit in nine months

Services trade deficit rose sharply by 34 percent during the first nine months (July-March) of this fiscal year (FY18), mainly due to higher import bill and lower export proceeds. Economists said that rising service trade deficit will put further pressure
Published 02 May, 2018 12:00am
Nawaz says doesn't want to engage in war of words with Zardari

Nawaz says doesn't want to engage in war of words with Zardari

In a rejoinder to the former president Asif Ali Zardari's recent statement, former prime minister Nawaz Sharif on Tuesday inquired whether the former president was so innocent that he had fallen prey to his propaganda. "Asif Zardari's recent statement doe
Published 02 May, 2018 12:00am
Nawaz says doesn't want to engage in war of words with Zardari

Nawaz says doesn't want to engage in war of words with Zardari

In a rejoinder to the former president Asif Ali Zardari's recent statement, former prime minister Nawaz Sharif on Tuesday inquired whether the former president was so innocent that he had fallen prey to his propaganda. "Asif Zardari's recent statement doe
Published 02 May, 2018 12:00am
Shahbaz irked by 'eagle eyes' of state institutions

Shahbaz irked by 'eagle eyes' of state institutions

Punjab Chief Minister Shahbaz Sharif on Tuesday said the NAB is proactively working in the province of Punjab, while the Supreme Court is also taking notice of everything with great attention and we welcome it. While addressing the ceremony of cheques dis
Published 02 May, 2018 12:00am
Shahbaz irked by 'eagle eyes' of state institutions

Shahbaz irked by 'eagle eyes' of state institutions

Punjab Chief Minister Shahbaz Sharif on Tuesday said the NAB is proactively working in the province of Punjab, while the Supreme Court is also taking notice of everything with great attention and we welcome it. While addressing the ceremony of cheques dis
Published 02 May, 2018 12:00am
Morocco cuts Iran ties over alleged Polisario arms delivery

Morocco cuts Iran ties over alleged Polisario arms delivery

Morocco has cut diplomatic ties with Iran over its alleged involvement in the delivery of weapons from its Lebanese ally Hezbollah to the Polisario Front, Foreign Minister Nasser Bourita said Tuesday. He told reporters that "a first shipment of weapons wa
Published 02 May, 2018 12:00am
Morocco cuts Iran ties over alleged Polisario arms delivery

Morocco cuts Iran ties over alleged Polisario arms delivery

Morocco has cut diplomatic ties with Iran over its alleged involvement in the delivery of weapons from its Lebanese ally Hezbollah to the Polisario Front, Foreign Minister Nasser Bourita said Tuesday. He told reporters that "a first shipment of weapons wa
Published 02 May, 2018 12:00am
Clashes mar May Day protests in Paris

Clashes mar May Day protests in Paris

Anti-capitalist protesters torched a McDonald's restaurant and clashed with police in Paris on the fringes of a May Day rally in Paris Tuesday. Shouting slogans such as "Rise up, Paris" and "Everyone hates the police", over 1,000 youths with black jackets
Published 02 May, 2018 12:00am
Clashes mar May Day protests in Paris

Clashes mar May Day protests in Paris

Anti-capitalist protesters torched a McDonald's restaurant and clashed with police in Paris on the fringes of a May Day rally in Paris Tuesday. Shouting slogans such as "Rise up, Paris" and "Everyone hates the police", over 1,000 youths with black jackets
Published 02 May, 2018 12:00am
The Weather

The Weather

The weather report on Tuesday (May 01, 2018) and the forecast for Wednesday (May 02, 2018).

Published 02 May, 2018 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 02 May, 2018 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 02 May, 2018 12:00am
Australia's biggest company CBA slammed for 'complacent culture'

Australia's biggest company CBA slammed for 'complacent culture'

Australia's biggest company, the Commonwealth Bank, has a complacent culture and ineffective board, the country's financial services regulator said Tuesday in a scathing assessment after a series of scandals. The banking giant has been embroiled in claims
Published 02 May, 2018 12:00am
Australia keeps rates on hold ahead of national budget

Australia keeps rates on hold ahead of national budget

Australia's central bank kept interest rates at a record low Tuesday for a 19th consecutive meeting, unwilling to make any move ahead of the national budget next week. The Reserve Bank of Australia has not adjusted rates since August 2016, following a ser
Published 02 May, 2018 12:00am
BP logs soaring first-quarter profits

BP logs soaring first-quarter profits

British energy major BP said Tuesday that first-quarter net profits soared 70 percent on rising crude oil prices and increasing output. Earnings after taxation, or bottom-line net profit, jumped to $2.5 billion (2.1 billion euros) in the three months to t
Published 02 May, 2018 12:00am
Pfizer questioned on growth after sluggish Q1 sales

Pfizer questioned on growth after sluggish Q1 sales

Pfizer reported higher profits on Tuesday but minimal revenue growth, reviving questions about whether it will seek a large acquisition to spur growth. Pfizer, the world's biggest pharmaceutical company by revenue, reported a 14.1 percent rise in first-qu
Published 02 May, 2018 12:00am
Canada economy grows

Canada economy grows

The Canadian economy grew 0.4 percent in February, Statistics Canada said on Tuesday, a sign that first-quarter growth could outperform the Bank of Canada's relatively weak expectations. Analysts in a Reuters poll had forecast February gross domestic prod
Published 02 May, 2018 12:00am
US warns companies marketing candy-like nicotine fluid

US warns companies marketing candy-like nicotine fluid

US regulators on Tuesday sent 13 warning letters to companies marketing nicotine fluid for e-cigarettes in packages that look like cookies, juice boxes and whipped cream, saying they pose a danger to children.
Published 02 May, 2018 12:00am
India rejects US request on price caps on medical devices

India rejects US request on price caps on medical devices

India has told the United States it won't abstain from capping prices for more medical devices, regardless of pressure to rethink its stance after price controls on heart stents and knee implants spoilt the market for some US firms, sources familiar with
Published 02 May, 2018 12:00am
UK factory growth sinks to 17-month low

UK factory growth sinks to 17-month low

British manufacturing growth slid to a 17-month low in April, sending sterling sinking and further reducing the chances of an interest rate hike by the Bank of England next week. The pound fell below $1.37 for the first time in 3-1/2 months after Tuesday'
Published 02 May, 2018 12:00am
India infrastructure output growth slows

India infrastructure output growth slows

India's infrastructure growth slowed to a three-year low of 4.2 percent in the fiscal year ending in March, indicating Prime Minister Narendra Modi faces a tough challenge to boost investment ahead of general elections due early next year.
Published 02 May, 2018 12:00am
US factory activity slows further, tariff concerns grow

US factory activity slows further, tariff concerns grow

US factory activity slowed for a second straight month in April, with manufacturers complaining about rising commodity prices in the wake of the Trump administration's tariffs on steel and aluminium imports. The Institute for Supply Management (ISM) surve
Published 02 May, 2018 12:00am
Saudi index hit by valuation woes, Drake & Scull hurts Dubai
Exchange

Saudi index hit by valuation woes, Drake & Scull hurts Dubai

Saudi stocks slid 0.6 percent on Tuesday as concerns grew about rich valuations for blue-chip stocks after the region's biggest stock market hit a more than a two-year high last week. Most Gulf markets were lower with Dubai and Qatar both falling more tha
Published 02 May, 2018 12:00am
Wall Street slides as healthcare drags but manages monthly gain
Exchange

Wall Street slides as healthcare drags but manages monthly gain

Wall Street fell on Monday as healthcare stocks slid and investors worried about rising costs for companies as oil prices rose, although the major indexes eked out a gain in April to snap a two-month losing streak. The healthcare sector, which dropped 1.6
Published 02 May, 2018 12:00am
Treasury yield curve flattens

Treasury yield curve flattens

The US Treasury yield curve flattened on Monday for a third straight session, as a slew of data that missed expectations rekindled concerns about signs of slowing growth in the world's largest economy. Investors look at the US yield curve for clues about
Published 02 May, 2018 12:00am
Treasury yield curve flattens

Treasury yield curve flattens

The US Treasury yield curve flattened on Monday for a third straight session, as a slew of data that missed expectations rekindled concerns about signs of slowing growth in the world's largest economy. Investors look at the US yield curve for clues about
Published 02 May, 2018 12:00am
Australian shares rise as financials outperform; New Zealand flat

Australian shares rise as financials outperform; New Zealand flat

Australian shares closed at a more than two-month high on Tuesday, supported by financials and real estate stocks. The S&P/ASX 200 index firmed 0.5 percent or 32.5 points to 6015.2 at the close of trade. The benchmark added 0.5 percent on Monday.
Published 02 May, 2018 12:00am
Canada stock market back in business after rare shutdown
Exchange

Canada stock market back in business after rare shutdown

Canada's stock exchange, the world's sixth largest, was back in business on Monday after a hardware glitch abruptly ended trading on Friday and the exchange operator TMX Group said it was working to ensure there will be no repeat of the embarrassing marke
Published 02 May, 2018 12:00am
Tokyo stocks mixed

Tokyo stocks mixed

Tokyo stocks closed mixed on Tuesday in quiet trade during Japan's Golden Week holiday period, as investors took to the sidelines ahead of key earnings and economic data in the US. The benchmark Nikkei 225 index rose 0.18 percent, or 40.16 points, to end
Published 02 May, 2018 12:00am
Sri Lankan stocks steady

Sri Lankan stocks steady

Sri Lankan shares ended steady on Tuesday as a weak rupee, which is trading near all-time lows, kept risk appetite muted, stockbrokers said. Sri Lanka's president reshuffled his cabinet on Tuesday after the defection of several ministers from his party, b
Published 02 May, 2018 12:00am
US, Germany bond yield gap near 29-year highs

US, Germany bond yield gap near 29-year highs

The gap between US and German 10-year benchmark bond yields was a shade off its widest level in nearly three decades on Tuesday as the economic and monetary policy outlooks of the United States and euro zone start to take different paths. In thin trading
Published 02 May, 2018 12:00am
US, Germany bond yield gap near 29-year highs

US, Germany bond yield gap near 29-year highs

The gap between US and German 10-year benchmark bond yields was a shade off its widest level in nearly three decades on Tuesday as the economic and monetary policy outlooks of the United States and euro zone start to take different paths. In thin trading
Published 02 May, 2018 12:00am
FTSE 100 rises, led by Just Eat, BP, while sterling sinks
Exchange

FTSE 100 rises, led by Just Eat, BP, while sterling sinks

British shares rose on Tuesday as data showed manufacturing growth slowed to a 17-month low, sending the pound lower and boosting dollar-earning companies. The data was the latest in a run of weak economic indicators, making it less likely the Bank of Eng
Published 02 May, 2018 12:00am
Dollar steadies near four-month highs in Asia
Currency

Dollar steadies near four-month highs in Asia

The dollar held steady near four-month highs on Tuesday, awaiting the Federal Reserve's policy decision and US employment data due later in the week for fresh cues. The Fed concludes its two-day meeting on Wednesday. The central bank is widely expected to
Published 02 May, 2018 12:00am
Dollar roars into positive territory in Europe
Currency

Dollar roars into positive territory in Europe

The US dollar surged on Tuesday into positive territory for 2018 and broke past key levels against several currencies as a divergence between growth and the interest rate outlook versus other countries spurred investors to chase the greenback higher. Trad
Published 02 May, 2018 12:00am
Dollar near three-month highs against euro in New York
Exchange

Dollar near three-month highs against euro in New York

Weaker-than-expected German data hurt the euro against the US dollar on Monday, with investors further unwinding short positions on the greenback that were based on assumptions that the European Central Bank was nearer to unwinding its stimulus. German mo
Published 02 May, 2018 12:00am
Sri Lankan rupee recovers from all-time low
Currency

Sri Lankan rupee recovers from all-time low

The Sri Lankan rupee gained for the first time in seven sessions on Tuesday, edging up from a record closing low hit in the previous session, dealers said. The currency hit a record low for the past five straight sessions as dollar demand from importers a
Published 02 May, 2018 12:00am
Dollar net shorts fall to lowest since mid-March

Dollar net shorts fall to lowest since mid-March

Speculators' net short dollar position declined to its lowest level since mid-March, according to calculations by Reuters and Commodity Futures Trading Commission data released last Friday, in line with the surge in US Treasury yields. The value of the ne
Published 02 May, 2018 12:00am
Goldman Sachs agrees to pay $110 million to settle forex claims
Exchange

Goldman Sachs agrees to pay $110 million to settle forex claims

Goldman Sachs Group Inc agreed on Tuesday to pay $110 million to resolve allegations by two US regulators that its foreign exchange traders shared information about investment positions. Half the $110 million fine will be paid to the Federal Reserve and t
Published 02 May, 2018 12:00am
US tech fund Andra raises $500 million for new digital coin
Currency

US tech fund Andra raises $500 million for new digital coin

Andra Capital, a US technology fund, has raised $500 million in funding for a new digital currency that investors can use to back a group of late-stage venture capital (VC) firms, the firm's managing partner Haydar Haba told Reuters. The new token is call
Published 02 May, 2018 12:00am
Aussie, kiwi near multi-month lows
Currency

Aussie, kiwi near multi-month lows

The Australian dollar held near a five-month trough on Tuesday as the central bank held cash rates at record lows as expected and reiterated the need for policy to remain steady for a while yet. The Aussie dollar was last buying at $0.7539, within spittin
Published 02 May, 2018 12:00am
Sterling falls through $1.36 as model funds cut bets
Currency

Sterling falls through $1.36 as model funds cut bets

Sterling fell through the $1.36 line on Tuesday to near its lowest levels this year as model funds cut positions in a thin market after survey data showed British manufacturing growth sliding to a 17-month low. It was the latest in a run of mediocre econo
Published 02 May, 2018 12:00am
Australian cricket cheating plot sparks ethics review

Australian cricket cheating plot sparks ethics review

Cricket Australia on Tuesday appointed an ethics guru to review the sport's culture in the wake of the cheating scandal that has rocked "the gentleman's game". The governing body said it wanted to ensure there was never a repeat of the conduct during the
Published 02 May, 2018 12:00am
Monfils loses on injury return after racket breakage

Monfils loses on injury return after racket breakage

Frenchman Gael Monfils slumped to a surprise first-round defeat by Mirza Basic in Munich as he made his return from injury on Tuesday, after seeing his rackets broken in transit. The former world number six, now ranked 40, was playing for the first time s
Published 02 May, 2018 12:00am
Mancini to become new Italy coach

Mancini to become new Italy coach

Roberto Mancini has reached an agreement to become the next Italy coach, according to multiiple media reports on Tuesday The Zenit St Petersburg manager met with the Italian FA sub-commissioner Alessandro Costacurta and team manager Gabriele Oriali for ov
Published 02 May, 2018 12:00am
Wimbledon backs plan to clamp down on tennis corruption

Wimbledon backs plan to clamp down on tennis corruption

Wimbledon bosses have backed plans to restructure the lower levels of tennis in a bid to clamp down on match-fixing involving players struggling to make a living from the sport. A recent 'Independent Review of Integrity in Tennis' report said the lower re
Published 02 May, 2018 12:00am
Wimbledon warns players over injury withdrawals

Wimbledon warns players over injury withdrawals

Wimbledon officials warned players on Tuesday they face losing prize money if they withdraw after competing with an existing injury and are not perceived to have given maximum effort. The All England Club will introduce the "50:50" rule at this year's Wim
Published 02 May, 2018 12:00am
F1 hopes new rules will help overtaking

F1 hopes new rules will help overtaking

Formula One's rulers announced new measures Tuesday designed to enable cars to race closer together and help overtaking next season. Among the changes confirmed by the FIA after consultation with the 10 teams are a simplified larger front wing and a deepe
Published 02 May, 2018 12:00am
Rain-marred tour opener: Denly and Dickson keep Pakistan at bay

Rain-marred tour opener: Denly and Dickson keep Pakistan at bay

Kent captain Joe Denly and Sean Dickson both made fifties as Pakistan's bowlers got some overs under their belts on the final day of their rain-marred tour opener at Canterbury on Tuesday. At tea, Kent were 128 for one in reply to Pakistan's first innings
Published 02 May, 2018 12:00am
Bajaur Zalmi shines in Bajaur Super League

Bajaur Zalmi shines in Bajaur Super League

Bajaur Zalmi on Tuesday crushed Bajaur Levies, by three wickets in their second match in the ongoing Bajaur Super League (BSL) cricket tournament being played here at Bajaur Sports Complex. Bajaur Zalmi batsman Maz Khan who helped the Zalmi to win the imp
Published 02 May, 2018 12:00am
Hockey musical chairs as Marijne returns to Indian women

Hockey musical chairs as Marijne returns to Indian women

Dutchman Sjoerd Marijne on Tuesday returned as coach of India's women's hockey team after seven months in charge of the men's side. Marijne did a swap with Harendra Singh, who switched from the women's team to the men's after India failed to win a medal a
Published 02 May, 2018 12:00am
National Road Cycling Championship from fourth
Exchange

National Road Cycling Championship from fourth

The third edition of the newly introduced National Men and Women Road Cycling Championship under the aegis of Pakistan Cycling Federation and with the strong collaboration of the Directorate of Sports Khyber Pakhtunkhwa and Khyber Pakhtunkhwa Cycling Asso
Published 02 May, 2018 12:00am
Salah wins writers' footballer of the year award

Salah wins writers' footballer of the year award

Mohamed Salah was named as the football writers' footballer of the year on Tuesday, completing a personal double after winning the players' award for his incredible goal-scoring feats for Liverpool.
Published 02 May, 2018 12:00am
Main rounds of SNGPL Tennis Championship begins

Main rounds of SNGPL Tennis Championship begins

The main rounds of the second SNGPL All Pakistan Tennis Championship 2018 will get underway from Wednesday (today). Managing Director SNGPL Amjad Latif chief will be chief guest of opening ceremony. In this tournament Men`s Single, Ladies Single, Men's Do
Published 02 May, 2018 12:00am
Liverpool great McDermott to sell European Cup medals

Liverpool great McDermott to sell European Cup medals

Liverpool great Terry McDermott is selling his three European Cup winners' medals just days before his former club look set to appear in the Champions League final. The 66-year-old former England midfielder will also put up for sale five league winners me
Published 02 May, 2018 12:00am
Hafeez cleared to bowl after remodelling action

Hafeez cleared to bowl after remodelling action

The International Cricket Council (ICC) on Tuesday cleared Pakistan all-rounder Mohammad Hafeez to return to bowling at international level after remodelling his action. The 37-year-old was reported for a suspect bowling action during a one-day internatio
Published 02 May, 2018 12:00am
Ashley Judd sues disgraced Weinstein over 'smear'

Ashley Judd sues disgraced Weinstein over 'smear'

Actress Ashley Judd, one of the first women to publicly accuse Harvey Weinstein of sexual misconduct, sued the disgraced mogul Monday, alleging he defamed her after she rejected him. The complaint filed in Los Angeles Superior Court in Santa Monica, accus
Published 02 May, 2018 12:00am
Sao Paulo tower used by squatters collapses in fire

Sao Paulo tower used by squatters collapses in fire

A 24-storey building used by squatters in the center of Sao Paulo, Brazil's biggest city, collapsed early Tuesday after a blaze that tore through the structure, leaving at least three missing. Survivors described waking in the night to find themselves sur
Published 02 May, 2018 12:00am
Armenian opposition leader fails in bid to become prime minister

Armenian opposition leader fails in bid to become prime minister

Armenia's protest leader Nikol Pashinyan on Tuesday failed to get elected prime minister after the ruling party withheld its support in a crucial vote, raising fears of worsening political turmoil. Lawmakers voted 45 in favour to 55 against Pashinyan, wit
Published 02 May, 2018 12:00am
Netanyahu's Iran nuke claims fail to convince deal proponents

Netanyahu's Iran nuke claims fail to convince deal proponents

Israeli Prime Minister Benjamin Netanyahu's televised unveiling of an intelligence trove on Iran's alleged nuclear ambitions led to scepticism Tuesday from backers of a landmark 2015 accord, with European nations saying it showed the deal's importance.
Published 02 May, 2018 12:00am
Sri Lanka reinstates sacked minister

Sri Lanka reinstates sacked minister

Sri Lanka's President Maithripala Sirisena on Tuesday reinstated his justice minister, who was sacked nine months ago for publicly criticising a billion-dollar deal to lease a loss-making harbour to China. Former justice minister Wijeyadasa Rajapakshe was
Published 02 May, 2018 12:00am
WhatsApp co-founder leaving Facebook
Kerb

WhatsApp co-founder leaving Facebook

WhatsApp co-founder Jan Koum on Monday put out word that he is leaving Facebook, which bought the smartphone messaging service four years ago for $19 billion. Koum said in a post on his Facebook page that he is taking time off to pursue interests such as
Published 02 May, 2018 12:00am
Pacific, China on agenda as Macron arrives in Australia

Pacific, China on agenda as Macron arrives in Australia

Emmanuel Macron arrived in Australia Tuesday on a rare visit by a French president, with the two sides expected to agree on greater cooperation in the Pacific to counter a rising China. Fresh from meeting President Donald Trump in Washington, Macron touch
Published 02 May, 2018 12:00am
South Korea, Japan, China to hold summit next week
Exchange

South Korea, Japan, China to hold summit next week

South Korea, China and Japan will hold a trilateral summit in Tokyo next week, Seoul announced Tuesday, the latest move in a diplomatic whirlwind centred around North Korea. The gathering on May 9 will bring together the South's President Moon Jae-in, Jap
Published 02 May, 2018 12:00am
Australia watchdog expands action against Rio Tinto
Exchange

Australia watchdog expands action against Rio Tinto

Australia's market watchdog on Tuesday expanded legal action against Rio Tinto and former senior executives of the mining giant related to a troubled 2011 investment in Mozambique coal assets. The Australian Securities and Investment Commission (ASIC) sai
Published 02 May, 2018 12:00am
Six arrested on May Day in Tehran

Six arrested on May Day in Tehran

Iranian security forces arrested six people in Tehran on Tuesday during an unauthorised demonstration by workers to mark May Day, the ILNA news agency reported. It said a "large number of workers" including teachers had gathered in central Tehran to prote
Published 02 May, 2018 12:00am
Over 80 held in security crackdown as Istanbul marks May 1

Over 80 held in security crackdown as Istanbul marks May 1

Istanbul police on Tuesday detained more than 80 people and placed a security lockdown on the city as the Turkish metropolis marked a tense May Day. The annual workers' holiday has traditionally been a place for confrontation between protesters and police
Published 02 May, 2018 12:00am
Sexual assault reports on rise in US military: Pentagon

Sexual assault reports on rise in US military: Pentagon

The number of sexual assaults reported in the US military increased last year by 10 percent, Pentagon officials said Monday, attributing the spike to the fact that victims feel freer to come forward. The number of sexual assaults brought to the attention
Published 02 May, 2018 12:00am
Japanese PM Abe meets Palestinian president in Ramallah

Japanese PM Abe meets Palestinian president in Ramallah

Palestinian president Mahmud Abbas met Shinzo Abe Tuesday as part of the Japanese Prime Minister's Middle East tour. Abbas welcomed Abe at his presidential headquarters in the West Bank city of Ramallah before heading into a bilateral meeting without addr
Published 02 May, 2018 12:00am
Disney to collaborate with Twitter on content

Disney to collaborate with Twitter on content

Twitter announced a deal Monday to collaborate with Disney on content, particularly live events from the entertainment giant's sports arm ESPN. Details about which sporting events would be streamed live on Twitter were to be revealed later this week. The
Published 02 May, 2018 12:00am
No smokes, many drinks for North's Kim at summit
Exchange

No smokes, many drinks for North's Kim at summit

North Korean leader and known heavy smoker Kim Jong Un refrained from lighting up during a summit with the South's President Moon Jae-in, but enthusiastically accepted every offer of a drink. Kim has often been seen with a cigarette dangling from his fing
Published 02 May, 2018 12:00am
Sanctions force Russia to cut defence spending: study

Sanctions force Russia to cut defence spending: study

Russia's military spending fell sharply in 2017 for the first time since 1998 as a slew of Western economic sanctions hit government coffers hard, a closely followed review said Wednesday. Despite soaring tensions between Moscow and the West, Russia's mil
Published 02 May, 2018 12:00am
Maverick McCain knocks Trump, urges civility in new book

Maverick McCain knocks Trump, urges civility in new book

Ailing US Senator John McCain in his new memoir decried the "scarcity of humility" in today's politics and criticized Donald Trump's aggressive bluster, warning that the president is concerned more with faking toughness than promoting American values. "Th
Published 02 May, 2018 12:00am
Mueller questions for Trump probe possible obstruction

Mueller questions for Trump probe possible obstruction

Donald Trump lashed out Tuesday at the "disgraceful" disclosure of questions Special Counsel Robert Mueller has sought to ask the US president about potential obstruction and other matters as part of his probe into Russian election interference. Compiled
Published 02 May, 2018 12:00am
Boom in West Texas oil patch lifts wages, prices

Boom in West Texas oil patch lifts wages, prices

In West Texas, rising oil prices are fuelling a sharp economic upswing, lifting employment and pay to records, driving up spending at hotels, restaurants, and car dealerships, and raising the cost of housing and other essentials.
Published 02 May, 2018 12:00am
Oil falls on firmer dollar but Iran sanction fears limit losses
Currency

Oil falls on firmer dollar but Iran sanction fears limit losses

Oil prices slid more than 1 percent on Tuesday as the dollar remained near a four-month high, but worries that US President Donald Trump will pull out of the Iran nuclear deal underpinned the market. The US dollar surged into positive territory for 2018 a
Published 02 May, 2018 12:00am
KPMG urges spot sale system to address I Coast cocoa defaults

KPMG urges spot sale system to address I Coast cocoa defaults

  • Global audit firm KPMG has urged Ivory Coast to introduce a spot sales system for local cocoa exporters who were responsible for defaults on 148,000 tonnes of contracts in the last growing season. The world's top producer sells forward the bulk of its a
Published 02 May, 2018 12:00am
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