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Print - 2018-09-20
US still ready to talk to Iran

US still ready to talk to Iran

US leaders remain ready to negotiate with their Iranian counterparts but Tehran is still refusing President Donald Trump's overture to do so, a senior US official said Wednesday. Trump and Secretary of State Mike Pompeo "have all made clear that we are re
Published 20 Sep, 2018 12:00am
UK warns British-Iranian dual nationals over travel to Iran

UK warns British-Iranian dual nationals over travel to Iran

Britain on Wednesday advised British-Iranian dual nationals against all but essential travel to Iran, tightening up its existing travel advice and warning it has only limited powers to support them if detained. "The Foreign Secretary (Jeremy Hunt) has tak
Published 20 Sep, 2018 12:00am
UK warns British-Iranian dual nationals over travel to Iran

UK warns British-Iranian dual nationals over travel to Iran

Britain on Wednesday advised British-Iranian dual nationals against all but essential travel to Iran, tightening up its existing travel advice and warning it has only limited powers to support them if detained. "The Foreign Secretary (Jeremy Hunt) has tak
Published 20 Sep, 2018 12:00am
Turkey cuts investment criteria for foreigners seeking citizenship

Turkey cuts investment criteria for foreigners seeking citizenship

Turkey on Wednesday made it easier for foreigners to become Turkish citizens by cutting the financial and investment criteria required for citizenship, according to a decree from President Recep Tayyip Erdogan. Foreigners now need only to have $500,000 de
Published 20 Sep, 2018 12:00am
Turkey cuts investment criteria for foreigners seeking citizenship

Turkey cuts investment criteria for foreigners seeking citizenship

Turkey on Wednesday made it easier for foreigners to become Turkish citizens by cutting the financial and investment criteria required for citizenship, according to a decree from President Recep Tayyip Erdogan. Foreigners now need only to have $500,000 de
Published 20 Sep, 2018 12:00am
Turkey cuts investment criteria for foreigners seeking citizenship

Turkey cuts investment criteria for foreigners seeking citizenship

Turkey on Wednesday made it easier for foreigners to become Turkish citizens by cutting the financial and investment criteria required for citizenship, according to a decree from President Recep Tayyip Erdogan. Foreigners now need only to have $500,000 de
Published 20 Sep, 2018 12:00am
MLA request made part of record

MLA request made part of record

An Accountability Court hearing corruption cases against Sharif family members on Wednesday made a mutual legal assistance (MLA) request, which had been sent by joint investigation team (JIT) that probed the Panama Papers case to Saudi authorities but rem
Published 20 Sep, 2018 12:00am
MLA request made part of record

MLA request made part of record

An Accountability Court hearing corruption cases against Sharif family members on Wednesday made a mutual legal assistance (MLA) request, which had been sent by joint investigation team (JIT) that probed the Panama Papers case to Saudi authorities but rem
Published 20 Sep, 2018 12:00am
Terror attacks down but global threat more 'complex': US report

Terror attacks down but global threat more 'complex': US report

The near-defeat of the Islamic State in Iraq and Syria has forced a dispersal of the group that has made the global threat of terror attacks much more complex, the US State Department said in a report Wednesday. Islamic State, Al-Qaeda and related jihadis
Published 20 Sep, 2018 12:00am
Terror attacks down but global threat more 'complex': US report

Terror attacks down but global threat more 'complex': US report

The near-defeat of the Islamic State in Iraq and Syria has forced a dispersal of the group that has made the global threat of terror attacks much more complex, the US State Department said in a report Wednesday. Islamic State, Al-Qaeda and related jihadis
Published 20 Sep, 2018 12:00am
Impact of electricity shortage on economy

Impact of electricity shortage on economy

Shortage of electricity in Pakistan over the last many years has adversely affected the economy of the country and welfare of its people. In a latest policy paper titled "Electrification and Household Welfare" prepared by the World Bank, lack of reliable
Published 20 Sep, 2018 12:00am
President's address

President's address

As is customary at the start of the parliamentary year, President Arif Alvi addressed a joint session of the newly-elected parliament on September 17, 2018. The government had approached the opposition before the session to ensure that the proceedings wou
Published 20 Sep, 2018 12:00am
Reform civil services, but for whom?

Reform civil services, but for whom?

That the civil services need to be reformed is stating the obvious. This has been an ongoing process, starting at birth (Turner 1947), followed by a galaxy of stalwarts, both foreign (Jeffries, Egger, Gladieux, Braibanti) and local (Munir, G. Ahmad, Shoai
Published 20 Sep, 2018 12:00am
National emergency on skills development

National emergency on skills development

Investment in skills development of youth is inextricably linked to Pakistan's economic aspirations. The case is unambiguously clear, and the political leadership cannot afford any ambivalence about it. Here are a few facts that will help grapple with the
Published 20 Sep, 2018 12:00am
Pakistan's packaged milk industry

Pakistan's packaged milk industry

Pakistan is one of the top five milk producing countries in the world with an annual production worth a mammoth Rs 1700 billion with most of its being consumed domestically. That makes milk, without a doubt, an integral part of everyday life of an average
Published 20 Sep, 2018 12:00am
It's a tall order

It's a tall order

Business Recorder op-ed writer M. Ziauddin has thrown ample light on what exactly constitutes corruption in Pakistan. In this regard, he argued, among other things, that one of the most debilitating of the side-effects of this state of affairs has
Published 20 Sep, 2018 12:00am
Arrangements finalised to observe Ashura in twin cities

Arrangements finalised to observe Ashura in twin cities

All arrangements are in final stages to commemorate 9th and 10th of Muharram-ul-Harram on Thursday and Friday in twin cities of Rawalpindi and Islamabad to remember the sacrifices rendered by Hazrat Imam Hussain (AS) and His companions for the cause of Is
Published 20 Sep, 2018 12:00am
Country's media is guarantor of human rights: Elahi

Country's media is guarantor of human rights: Elahi

Speaker Punjab Assembly Ch Parvez Elahi has said that Pakistani media is free and guarantor of human rights and prosperity of the country. He said this while speaking at the dinner hosted in honour of Council of Pakistan Newspapers Editors (CPNE).
Published 20 Sep, 2018 12:00am
It is great day for Sharif family: Hamza

It is great day for Sharif family: Hamza

Opposition Leader in Punjab Assembly and nephew of former Prime Minister Nawaz Sharif, Hamza Shahbaz while reacting to Islamabad High Court's suspension of Avenfield sentences, Wednesday said it was a great day today for us as the court ordered the releas
Published 20 Sep, 2018 12:00am
Prime Minister to chair CCI meeting on September 24

Prime Minister to chair CCI meeting on September 24

Prime Minister Imran Khan will preside over a meeting of the Council of Common Interests (CCI) on Sep 24. The CCI meeting scheduled to take place at PM Office and will be attended by the chief ministers of all the four provinces. The meeting will take up
Published 20 Sep, 2018 12:00am
Lesson of Karbala beacon of light for entire mankind: Alvi

Lesson of Karbala beacon of light for entire mankind: Alvi

President Arif Alvi has said that the martyrdom of Hazrat Imam Hussain (may Allah be pleased with him) is a lesson for everyone to never refrain from fighting against terrorism, extremism and intolerant ideology and emphasized on promoting affinity and br
Published 20 Sep, 2018 12:00am
SC removes Dar from chairmanship of UHS's BoG

SC removes Dar from chairmanship of UHS's BoG

The Supreme Court Wednesday removed former finance minister Ishaq Dar from the post of Chairman Board of Governors of University of Health Sciences (UHS), Lahore, and directed the authorities to appoint a new chairman within three days.
Published 20 Sep, 2018 12:00am
PHC moved to get Kabul River renamed as Chitral River

PHC moved to get Kabul River renamed as Chitral River

A resident of Chitral has moved the Peshawar High Court (PHC) seeking directives to authorities concerned to get the centuries-old misnomer as regard to Kabul River. In his application, addressed to the Chief Justice PHC, Sher Jahan Sahil said the river o
Published 20 Sep, 2018 12:00am
Arabic as compulsory subject: SC dismisses Shariah court's verdict

Arabic as compulsory subject: SC dismisses Shariah court's verdict

The Supreme Court of Pakistan Wednesday while approving the Punjab government s plea challenging the verdict regarding making Arabic language as compulsory subject, dismissed the judgement of the federal Shariah court. A two-member bench of the apex court
Published 20 Sep, 2018 12:00am
SC suspends sentence of three convicts

SC suspends sentence of three convicts

The Supreme Court on Wednesday suspended sentence of three convicts who were awarded death penalty by the military courts. A three-judge bench, headed by Justice Sheikh Azmat Saeed, heard the appeals against the Peshawar High Court decision. The bench iss
Published 20 Sep, 2018 12:00am
SHC dismayed at police's report about missing persons' recovery

SHC dismayed at police's report about missing persons' recovery

The Sindh High Court (SHC) on Wednesday expressed dissatisfaction over police reports regarding missing persons' recovery and directed Sindh Police to appoint, at least the official equivalent to DIG level for carrying out the investigation in missing per
Published 20 Sep, 2018 12:00am
Pest attack: farmers advised to protect crop
Cotton

Pest attack: farmers advised to protect crop

The Met Office on Wednesday warned the farmers of a pest attack on cotton, asking them to step up measures to protect the standing crop from damage. In a farmers' advisory, it informed that a pest attack on cotton crop has been witnessed in the lower part
Published 20 Sep, 2018 12:00am
Welfare-oriented projects priority of PPP government: adviser

Welfare-oriented projects priority of PPP government: adviser

Advisor to Chief Minister for Information, Law and Anticorruption Barrister Murtaza Wahab is continuing interaction with all segments of the society since his advisor-ship in the provincial cabinet as he held meetings with media organizations, media house
Published 20 Sep, 2018 12:00am
Pakistan to promote cooperation in education with Belarus: Shafqat

Pakistan to promote cooperation in education with Belarus: Shafqat

Federal Minister for Education and Professional Training, Shafqat Mahmood was called on Andrei Ermolovich, Ambassador of Belarus to Pakistan on Wednesday in Islamabad. The meeting was also attended by Federal Secretary Education, Arshad Mirza.
Published 20 Sep, 2018 12:00am
AML/CFT obligations: SECP's awareness sessions held in Lahore, Peshawar

AML/CFT obligations: SECP's awareness sessions held in Lahore, Peshawar

In order to sensitize the not-for-profit organizations (NPOs) about the regulatory framework on anti-money laundering and countering financing of terrorism (AML/CFT), the SECP has expanded its outreach efforts to other cities after holding the first aware
Published 20 Sep, 2018 12:00am
8th Muharram's main procession culminates peacefully

8th Muharram's main procession culminates peacefully

The Main Mourning procession of 8th Muharram to pay homage to the Imam Hussain (AS) and his loyal companions martyrs of Karbala culminated peacefully at Bara Imam Bargah, Kharadar area here on Wednesday under strict security measures that included ban on
Published 20 Sep, 2018 12:00am
Gul Ahmed Textile Mills' PAT increases to Rs 2074.973 million

Gul Ahmed Textile Mills' PAT increases to Rs 2074.973 million

The profit after tax of Gul Ahmed Textile Mills has increased to Rs 2,074.973 million in the financial year ended June 30, 2018 (FY18) as compared to Rs 818.422 million earned in the corresponding period in FY17. The company's earning per share has increa
Published 20 Sep, 2018 12:00am
Gul Ahmed Textile Mills' PAT increases to Rs 2074.973 million

Gul Ahmed Textile Mills' PAT increases to Rs 2074.973 million

The profit after tax of Gul Ahmed Textile Mills has increased to Rs 2,074.973 million in the financial year ended June 30, 2018 (FY18) as compared to Rs 818.422 million earned in the corresponding period in FY17. The company's earning per share has increa
Published 20 Sep, 2018 12:00am
Huge cache of drugs seized in North Arabian Sea

Huge cache of drugs seized in North Arabian Sea

Pakistan Navy and Pakistan Maritime Security Agency (PMSA) on Wednesday captured approximately three tons of hashish worth millions of dollars from a dhow in the North Arabian Sea. The intelligence based operation was conducted in coordination with Anti N
Published 20 Sep, 2018 12:00am
APCTMA criticises hike in gas price

APCTMA criticises hike in gas price

All Pakistan Ceramic Tiles Manufacturers Association (APCTMA) on Wednesday expressed concern over the increase in gas price. According to APCTMA, the surge in gas price will make locally produced tiles uncompetitive in local and global markets besides it
Published 20 Sep, 2018 12:00am
BMP leader for rationalising agriculture sector

BMP leader for rationalising agriculture sector

Secretary General (Federal) of Businessmen Panel (BMP) Ahmad Jawad has said that the government should rationalise the country's agriculture sector and diversify the cropping pattern immediately to save water till the completion of big and small reservoir
Published 20 Sep, 2018 12:00am
Soneri Bank and MCB-AH sign agreement
Mutual Funds

Soneri Bank and MCB-AH sign agreement

Soneri Bank Limited and MCB Arif Habib Savings & Investments Limited (MCB-AH) have signed a landmark agreement for distributing investment products through Soneri Bank's branch network.
Published 20 Sep, 2018 12:00am
DGKC PAT surges to Rs 8.837 billion

DGKC PAT surges to Rs 8.837 billion

The profit after tax of DG Khan Cement Company (DGKC) has increased to Rs 8.837 billion in the financial year ended June 30, 2018 (FY18) as compared to Rs 7.975 billion earned in the corresponding period in FY17. The company's earning per share has increa
Published 20 Sep, 2018 12:00am
DGKC PAT surges to Rs 8.837 billion

DGKC PAT surges to Rs 8.837 billion

The profit after tax of DG Khan Cement Company (DGKC) has increased to Rs 8.837 billion in the financial year ended June 30, 2018 (FY18) as compared to Rs 7.975 billion earned in the corresponding period in FY17. The company's earning per share has increa
Published 20 Sep, 2018 12:00am
Security assistance not primary consideration for Pakistan: CNS

Security assistance not primary consideration for Pakistan: CNS

Emphas-izing on maintaining good relations with the United States, Pakistan Navy Chief Admiral Zafar Mahmood Abbasi has, however, said security assistance is not the primary consideration for Pakistan. "We want good relations with or without security assi
Published 20 Sep, 2018 12:00am
PRM body discusses ways to overcome budget deficit

PRM body discusses ways to overcome budget deficit

Punjab Resource Mobilization Committee held its third meeting here on Wednesday to find ways and means to meet the worrisome budget deficit for the current financial year. The meeting was also attended by the Health Minister Dr Yasmin Rashid, Senior Minis
Published 20 Sep, 2018 12:00am
Corps Commander lauds sacrifice of Havaldar Lalak Jan Shaheed

Corps Commander lauds sacrifice of Havaldar Lalak Jan Shaheed

Corps Commander Rawalpindi Lieutenant General Bilal Akbar Wednesday visited Gilgit Baltistan and laid floral wreath on the grave of recipient of Nishan-e-Haider Halavdar Lalak Jan Shaheed and offered fateha. He was accompanied by Force Commander Northern
Published 20 Sep, 2018 12:00am
Lodhi urges officers to improve working of food department

Lodhi urges officers to improve working of food department

Khyber Pakhtunkhwa Minister for Food, Qalandar Khan Lodhi has directed the officers of Food Department for bringing further improvement in their performance and fulfilling responsibility with honesty. Otherwise, stern action would be against the negligent
Published 20 Sep, 2018 12:00am
KPT, Inros Lackner to reconstruct oil pier at Keamari

KPT, Inros Lackner to reconstruct oil pier at Keamari

Karachi Port Trust has signed a designed engineering consultancy agreement for the reconstruction of Oil Pier-1 (OP-1) with M/s Inros Lackner (Germany) and Techno Consult (JV). KPT statement issued on Wednesday said, this will upgrade the existing OP-1 fa
Published 20 Sep, 2018 12:00am
Job fair held at UIT

Job fair held at UIT

Students of Usman Institute of Technology (UIT) exhibited their talent through their final year projects at an exhibition and job fair 2018 organized at the institute on Saturday. The exhibition provided a platform to students of engineering and informati
Published 20 Sep, 2018 12:00am
HF, GB-DMA sign MoU

HF, GB-DMA sign MoU

Hashoo Foundation (HF) and Gilgit-Baltistan Disaster Management Authority (GB-DMA) signed a memorandum of understanding (MoU), says a press release issued here on Tuesday. Hashoo Foundation will facilitate in the capacity building of the GB-DMA in differe
Published 20 Sep, 2018 12:00am
PTI's government custodian of indiscriminate accountability: Sarwar

PTI's government custodian of indiscriminate accountability: Sarwar

Punjab Governor Chaudhry Muhammad Sarwar has said that Pakistan Tehreek-e-Insaf (PTI)'s government was custodian of indiscriminate accountability in the country. Talking to a delegation of the Council of Pakistan Newspapers Editors (CPNE) and the senior c
Published 20 Sep, 2018 12:00am
Dr Atta-ur-Rahman highlights significance of knowledge economy

Dr Atta-ur-Rahman highlights significance of knowledge economy

A high-level meeting was co-chaired by Yasir Humayun Sarfraz, Minister for Higher Education, Punjab and Dr Atta-ur-Rahman, former Federal Minister, Science and Technology and former Chairman HEC, Pakistan. The meeting was held at the office of LKPC (Lahor
Published 20 Sep, 2018 12:00am
UVAS vows to revamp livestock sector

UVAS vows to revamp livestock sector

The University of Veterinary and Animal Sciences (UVAS) Lahore organized a meeting of the Livestock Emergency Subgroup under the theme of Prime Minister's 100 days agenda to develop concrete plan to revamp livestock sector, here at the City Campus Lahore
Published 20 Sep, 2018 12:00am
Gas tariff hike will hurt exports: FPCCI

Gas tariff hike will hurt exports: FPCCI

The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Regional Chairman and Vice President Ch Arfan Yousaf Wednesday said the government should have increased/imposed taxes and duties on luxury items instead of raw materials and the capital
Published 20 Sep, 2018 12:00am
Muharram 9 and 10: LWMC completes cleanliness arrangements

Muharram 9 and 10: LWMC completes cleanliness arrangements

Lahore Waste Management Company (LWMC) has completed special cleanliness arrangements for Muharram 9 and 10. Special cleanliness operation was started from Muharram 1 and in this regard nearly more than 110 Imam Barghas are mechanically washed, disclosed
Published 20 Sep, 2018 12:00am
Flour fortification programme need of the hour: PFA

Flour fortification programme need of the hour: PFA

The Punjab Food Authority (PFA) has once again rolled up sleeves against flour mills in order to ensure the implementing of flour fortification program. This was revealed in a meeting with the officials of Food Fortification Programme, held at PFA Headqua
Published 20 Sep, 2018 12:00am
EU parliamentarians visit LCCI

EU parliamentarians visit LCCI

A six-member delegation of the European Conservative and Reformists Group of Parliamentarians on Wednesday visited the Lahore Chamber of Commerce & Industry and had an interactive session with the LCCI office bearers. Head of the delegation Hasns-Olaf HEN
Published 20 Sep, 2018 12:00am
Pakistan to chair 10th South Asia Sichuan Business Conference

Pakistan to chair 10th South Asia Sichuan Business Conference

The 9th South Asia Sichuan Business Promotion Roundtable Conference held on 18th and 19th September in Chengdu, China handed over the chair of the 10th Roundtable Conference to Pakistan after the concluding session of the conference which was attended by
Published 20 Sep, 2018 12:00am
KCCA annual election on September 27

KCCA annual election on September 27

The managing committee of Karachi Customs Agents Association (KCAA) has announced the date of its annual general election 2018-2019. According to details, the elections will be held on September 27 2018 at KCAA's Auditorium (Head Office), Karachi.
Published 20 Sep, 2018 12:00am
PHC suspends Aptma polls, EC's operation

PHC suspends Aptma polls, EC's operation

A division bench of Peshawar High Court (PHC) comprising Justice Ikramullah and Justice Musarrat Hilali suspended the election and operation of the executive committee of All Pakistan Textile Mills Association (Aptma). The order was given on the two ident
Published 20 Sep, 2018 12:00am
PHC suspends Aptma polls, EC's operation

PHC suspends Aptma polls, EC's operation

A division bench of Peshawar High Court (PHC) comprising Justice Ikramullah and Justice Musarrat Hilali suspended the election and operation of the executive committee of All Pakistan Textile Mills Association (Aptma). The order was given on the two ident
Published 20 Sep, 2018 12:00am
APCNGA demands withdrawal of hike in gas prices

APCNGA demands withdrawal of hike in gas prices

While rejecting the recent hike in gas tariff, the All Pakistan CNG Association (APCNGA) has demanded of the federal government to immediately withdraw its decision to protect the CNG industry from devastation. Speaking a news conference at Peshawar Press
Published 20 Sep, 2018 12:00am
Minister dissatisfied over slow pace of industrial schemes

Minister dissatisfied over slow pace of industrial schemes

Provincial Minister for Industries & Trade Mian Aslam Iqbal has expressed dissatisfaction over slow implementation of industrial schemes in the province. He was presiding over an important meeting to discuss ongoing and proposed schemes of industrial sect
Published 20 Sep, 2018 12:00am
PEC Bill tabled in Senate

PEC Bill tabled in Senate

The Prevention of Electronic Crimes (Amendment) Bill 2018 was introduced in the Senate on Wednesday. State Minister for Revenue Hammad Azhar introduced the bill on behalf of Minister for Information Technology and Telecommunication Khalid Maqbool Siddiqui
Published 20 Sep, 2018 12:00am
Usman Ahmed elected PSMA chairman

Usman Ahmed elected PSMA chairman

Usman Ahmed, Shahzad Mushtaq Paracha and Waseem Akhter have been elected unopposed as Chairman, Senior Vice Chairman and Vice Chairman of Pakistan Soap Manufacturers Association (PSMA) for the year 2018-2019. Six elected unopposed members of managing comm
Published 20 Sep, 2018 12:00am
Minister orders third party audit of 34 delayed road projects

Minister orders third party audit of 34 delayed road projects

Minister of State for Communications Murad Saeed Wednesday directed for third party forensic audit of 34 delayed road projects escalating cost by around 40 percent, incurred billions of rupees losses to the national exchequer. Talking to the media here, S
Published 20 Sep, 2018 12:00am
BISP may apprise PM about its proposed programmes

BISP may apprise PM about its proposed programmes

Benazir Income Support Programme (BISP) is expected to make a presentation to the Prime Minister on its various existing and proposed programmes, with a focus on Waseela Sehat Programme in order to bring it in line with the manifesto of Pakistan Tehrik-i-
Published 20 Sep, 2018 12:00am
SheMeansBusiness to impart knowledge and skills to women: Deevy

SheMeansBusiness to impart knowledge and skills to women: Deevy

APAC Facebook Director of Community Affairs Clair Deevy has said the SheMeansBusiness programme would equip Pakistani women, particularly women entrepreneurs with the knowledge, connections, skills and technology required to build and grow their businesse
Published 20 Sep, 2018 12:00am
Britain, EU clash over who should give ground on Brexit

Britain, EU clash over who should give ground on Brexit

British Prime Minister Theresa May clashed with EU leaders on Wednesday over who should make the next move to break the Brexit logjam, as the clock ticks down to get a deal. EU Council President Donald Tusk opened a crucial summit in the Austrian city of
Published 20 Sep, 2018 12:00am
Trump again blasts US Attorney General Sessions

Trump again blasts US Attorney General Sessions

President Donald Trump attacked his Attorney General Jeff Sessions anew in an interview published Wednesday, deriding the official who is the key obstacle to the White House halting the increasingly menacing Russia collusion probe. "I don't have an attorn
Published 20 Sep, 2018 12:00am
Two killed as storm hits Britain and Ireland

Two killed as storm hits Britain and Ireland

A Swiss woman died after being blown off a cliff and a man was killed by a falling tree Wednesday as record winds lashed Britain and Ireland. Storm Ali brought gusts of more than 90 miles (145 kilometres) an hour and intense rainstorms. Officials said the
Published 20 Sep, 2018 12:00am
Poland offering $2 billion to host US military base: Trump

Poland offering $2 billion to host US military base: Trump

US President Donald Trump said Tuesday he is seriously considering a request from Poland for US troops to be permanently based in the strategically important country on Europe's flank with an "aggressive" Russia. At a joint press conference with Polish Pr
Published 20 Sep, 2018 12:00am
Philippines typhoon toll hits 81, expected to rise

Philippines typhoon toll hits 81, expected to rise

The death toll in the Philippines from Typhoon Mangkhut has climbed to 81 and could hit triple digits as searchers dig through a landslide where dozens are presumed dead, authorities said Wednesday. Mangkhut swamped farm fields in the nation's agricultura
Published 20 Sep, 2018 12:00am
Indian shares plunge
Mutual Funds

Indian shares plunge

Indian shares gave up early gains to close lower on Wednesday, declining for a third straight session to their lowest close since late July, dragged by financials such as HDFC Bank Ltd and Housing Development Finance Corp as the rupee hovering near its re
Published 20 Sep, 2018 12:00am
Sterling retreats
Currency

Sterling retreats

Sterling erased earlier gains on Wednesday after The Times reported that Britain's Prime Minister Theresa May had rejected an improved offer from the European Union to solve the Irish border issue. The British currency sank to the day's low after the repo
Published 20 Sep, 2018 12:00am
Asian forex: most Asian currencies up; peso and rupiah weaken
Currency

Asian forex: most Asian currencies up; peso and rupiah weaken

Most Asian currencies edged higher on Wednesday, shrugging off another round of tit-for-tat exchanges in the US-China trade war, while suspected central bank intervention supported the rupee. The Chinese yuan allayed initial weakness at the open to streng
Published 20 Sep, 2018 12:00am
Aussie, kiwi up
Currency

Aussie, kiwi up

The Australian dollar rallied for a third straight session on Wednesday as investors wagered China would take steps to support domestic growth in its trade dispute with the United States, so underpinning demand for commodities. Risk appetite was also help
Published 20 Sep, 2018 12:00am
Dollar climbs against yen, euro in New York
Currency

Dollar climbs against yen, euro in New York

The dollar rose to a two-month high against the safe-haven Japanese yen and advanced modestly against the euro on Tuesday as investors appeared to discount rising trade-related tensions between the United States and China.
Published 20 Sep, 2018 12:00am
Early trade in New York: Dollar slips against euro, Aussie
Currency

Early trade in New York: Dollar slips against euro, Aussie

The US dollar edged lower against the euro and fell to the lowest in nearly three weeks against the risk-sensitive Aussie on Wednesday, as investors did not rush to buy the greenback on the latest round of tariffs by China and the United States. The euro
Published 20 Sep, 2018 12:00am
Dollar falls to seven-week low in Europe
Currency

Dollar falls to seven-week low in Europe

The dollar neared a seven-week low against a basket of other currencies on Wednesday, while commodity currencies advanced on relief that the latest round of tariffs announced by China and the United States were not as harsh as the market expected.
Published 20 Sep, 2018 12:00am
Yen tumbles in Asian trade
Currency

Yen tumbles in Asian trade

The Japanese yen stood near-two-month lows as financial markets took fresh US tariffs on Chinese goods in their stride and as US bond yields shot up to four-month highs on fears of higher inflation. The British pound held firm, briefly hitting its highest
Published 20 Sep, 2018 12:00am
Kenya's finance minister cuts spending, money transfer taxes to rise

Kenya's finance minister cuts spending, money transfer taxes to rise

Kenya's Finance Minister Henry Rotich has cut the government's spending budget by 55.1 billion shillings ($546.90 million), or 1.8 percent, for the fiscal year from July this year, a Treasury document showed on Wednesday. The government is facing a tough
Published 20 Sep, 2018 12:00am
US firm snaps up German caravan maker to create global giant

US firm snaps up German caravan maker to create global giant

US group Thor Industries on Tuesday said it had bought German motorhome maker Erwin Hymer Group in a 2.1-billion-euro deal that will create "the world's largest" manufacturer of recreational vehicles. Thor, maker of the iconic silver Airstream motorhomes,
Published 20 Sep, 2018 12:00am
SeaWorld to pay $4 million fine for downplaying 'Blackfish' damage

SeaWorld to pay $4 million fine for downplaying 'Blackfish' damage

SeaWorld Entertainment and its former chief executive will pay $5 million in fines for misleading investors about damage from a documentary film about its treatment of killer whales, US regulators announced Tuesday. Former CEO James Atchison and the firm
Published 20 Sep, 2018 12:00am
Turkey to cut growth forecasts for this year and next
Currency

Turkey to cut growth forecasts for this year and next

Turkey will on Thursday cut its growth forecasts for this year and next amid a deep currency crisis, although the extent of next year's revision is still being debated by top government officials, sources said. The discussion over the growth targets under
Published 20 Sep, 2018 12:00am
Trade war hopes buoy FTSE, still slave to sterling swings
Currency

Trade war hopes buoy FTSE, still slave to sterling swings

Britain's top share index extended its rally on Wednesday to hit a near two-week high as investors focused on hopes a US-China trade war was losing intensity. Brexit developments also kept the FTSE 100 in the thrall of currency moves on Wednesday, with in
Published 20 Sep, 2018 12:00am
Most Southeast Asian stocks rise

Most Southeast Asian stocks rise

Most Southeast Asian stock markets rose on Wednesday, tracking gains in broader Asia, as investors shrugged off the latest round of tariff war between Washington and Beijing. China will levy tariffs on about $60 billion worth of US goods in retaliation fo
Published 20 Sep, 2018 12:00am
Trade talk hopes drive European shares up
Currency

Trade talk hopes drive European shares up

A rally in European shares extended for a second day on Wednesday thanks to gains in trade-sensitive mining and autos stocks as investors saw a China-US trade war approaching its endgame. The STOXX 600 and leading euro zone stocks both rose 0.3 percent to
Published 20 Sep, 2018 12:00am
China stocks rebound

China stocks rebound

China stocks rebounded strongly for the second straight day on Wednesday as investors piled into property and consumer stocks, betting Beijing will intensify stimulus measures to cushion the impact of an escalation in the Sino-US trade war. The blue-chip
Published 20 Sep, 2018 12:00am
Egypt index plunges as liquidity tightens, Saudi bourse climbs
Currency

Egypt index plunges as liquidity tightens, Saudi bourse climbs

Egypt's stock market plunged to its lowest close this year on Wednesday as liquidity tightened, while most Gulf markets were little changed and Saudi Arabia continued to rebound from six-month lows. The Egyptian stock index tumbled 3.8 percent, its bigges
Published 20 Sep, 2018 12:00am
Treasury yields move up

Treasury yields move up

US Treasury yields rose on Tuesday, as investors continued to price in more interest rate increases by the Federal Reserve this year and next and amid a heavy corporate bond schedule this week. News of a tit-for-tat on trade tariffs between the United Sta
Published 20 Sep, 2018 12:00am
Treasury yields move up

Treasury yields move up

US Treasury yields rose on Tuesday, as investors continued to price in more interest rate increases by the Federal Reserve this year and next and amid a heavy corporate bond schedule this week. News of a tit-for-tat on trade tariffs between the United Sta
Published 20 Sep, 2018 12:00am
US housing starts rise

US housing starts rise

US homebuilding increased more than expected in August, a positive sign for the housing market which has underperformed the broader economy amid rising interest rates for home loans. Housing starts rose 9.2 percent to a seasonally adjusted annual rate of
Published 20 Sep, 2018 12:00am
'More work' to get a continental trade deal: Trudeau

'More work' to get a continental trade deal: Trudeau

There is still a way to go to reach a new North American Free Trade Agreement, Canada's prime minister said Wednesday, brushing off US pressure for a quick deal as high-level talks resumed in Washington. "Our team is in Washington this morning to continue
Published 20 Sep, 2018 12:00am
Russian retail sales beat forecast but other indicators worrisome

Russian retail sales beat forecast but other indicators worrisome

Retail sales in Russia rose more than expected in August, suggesting a tepid economic recovery is underway, but real wage growth was slightly lower than forecast and agricultural output tumblled, data showed on Wednesday Russia's economy is recovering fro
Published 20 Sep, 2018 12:00am
Cyprus, Egypt sign accord for Mediterranean gas pipeline

Cyprus, Egypt sign accord for Mediterranean gas pipeline

Cyprus and Egypt on Wednesday signed an agreement paving the way for the Mediterranean's first subsea pipeline to carry Cypriot natural gas to the Arab country for re-export to Europe. "Today's signing is an important milestone, not only for Cyprus but al
Published 20 Sep, 2018 12:00am
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