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Jan 31, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2018-12-24
Two killed in PSP office attack

Two killed in PSP office attack

Unidentified gunmen opened fire on an office of Pak Sarzameen Party here on Sunday evening, killing two persons and wounding two others, Aaj News reported. The gun attack took place in Gulbahar Usmania Society, Nazimabad. According to police sources, unkn
Published 24 Dec, 2018 12:00am
THE RUPEE: little changes
Currency

THE RUPEE: little changes

The rupee showed minor changes against the dollar on the money market during the week, ended on December 22, 2018. The rupee was almost unchanged in relation to the dollar for buying and selling at Rs 138.94 and Rs 138.95.
Published 24 Dec, 2018 12:00am
THE RUPEE: little changes
Currency

THE RUPEE: little changes

The rupee showed minor changes against the dollar on the money market during the week, ended on December 22, 2018. The rupee was almost unchanged in relation to the dollar for buying and selling at Rs 138.94 and Rs 138.95.
Published 24 Dec, 2018 12:00am
Tsunami kills at least 222 in Indonesia

Tsunami kills at least 222 in Indonesia

A tsunami killed at least 222 people and injured hundreds on the Indonesian islands of Java and Sumatra following an underwater landslide believed to have been caused by the erupting Anak Krakatau volcano, officials said on Sunday. Hundreds of homes and o
Published 24 Dec, 2018 12:00am
Tsunami kills at least 222 in Indonesia

Tsunami kills at least 222 in Indonesia

A tsunami killed at least 222 people and injured hundreds on the Indonesian islands of Java and Sumatra following an underwater landslide believed to have been caused by the erupting Anak Krakatau volcano, officials said on Sunday. Hundreds of homes and o
Published 24 Dec, 2018 12:00am
Fragile trading witnessed

Fragile trading witnessed

Pakistan Stock Exchange remained under pressure due to selling in various sectors during the outgoing week ended on December 21, 2018. BRIndex100 lost 61.7 points on week-on-week basis to close at 4,012.73 points. Average daily trading volumes stood at 96
Published 24 Dec, 2018 12:00am
Fragile trading witnessed

Fragile trading witnessed

Pakistan Stock Exchange remained under pressure due to selling in various sectors during the outgoing week ended on December 21, 2018. BRIndex100 lost 61.7 points on week-on-week basis to close at 4,012.73 points. Average daily trading volumes stood at 96
Published 24 Dec, 2018 12:00am
Fragile trading witnessed

Fragile trading witnessed

Pakistan Stock Exchange remained under pressure due to selling in various sectors during the outgoing week ended on December 21, 2018. BRIndex100 lost 61.7 points on week-on-week basis to close at 4,012.73 points. Average daily trading volumes stood at 96
Published 24 Dec, 2018 12:00am
Futures spread up by 110 basis points

Futures spread up by 110 basis points

The futures spread increased by 110bps to 14.65 percent on the last day of the outgoing week. Trading activities on the futures counter remained low as average daily volumes decreased by 16.5 percent to 35.04 million shares. The average daily trading valu
Published 24 Dec, 2018 12:00am
Futures spread up by 110 basis points

Futures spread up by 110 basis points

The futures spread increased by 110bps to 14.65 percent on the last day of the outgoing week. Trading activities on the futures counter remained low as average daily volumes decreased by 16.5 percent to 35.04 million shares. The average daily trading valu
Published 24 Dec, 2018 12:00am
Verdict on references against Nawaz today

Verdict on references against Nawaz today

Whatever the verdict of the accountability court on Flagship and Azizia Mills references against former Prime Minister Nawaz Sharif on Monday (today), it would add to the tense political environment as it would widen divisions within the already fractured
Published 24 Dec, 2018 12:00am
Verdict on references against Nawaz today

Verdict on references against Nawaz today

Whatever the verdict of the accountability court on Flagship and Azizia Mills references against former Prime Minister Nawaz Sharif on Monday (today), it would add to the tense political environment as it would widen divisions within the already fractured
Published 24 Dec, 2018 12:00am
Trump asked officials if he can legally fire Fed chair

Trump asked officials if he can legally fire Fed chair

President Donald Trump has privately asked cabinet members if he has the authority to fire Federal Reserve Chairman Jerome Powell after interest rates were increased and the stock market plummeted, US media reported Saturday. CNN and Bloomberg, citing unn
Published 24 Dec, 2018 12:00am
Trump asked officials if he can legally fire Fed chair

Trump asked officials if he can legally fire Fed chair

President Donald Trump has privately asked cabinet members if he has the authority to fire Federal Reserve Chairman Jerome Powell after interest rates were increased and the stock market plummeted, US media reported Saturday. CNN and Bloomberg, citing unn
Published 24 Dec, 2018 12:00am
Trump asked officials if he can legally fire Fed chair

Trump asked officials if he can legally fire Fed chair

President Donald Trump has privately asked cabinet members if he has the authority to fire Federal Reserve Chairman Jerome Powell after interest rates were increased and the stock market plummeted, US media reported Saturday. CNN and Bloomberg, citing unn
Published 24 Dec, 2018 12:00am
CM foresees Sindh's two more projects in CPEC

CM foresees Sindh's two more projects in CPEC

Sindh Chef Minister Syed Murad Ali Shah has said that in the CPEC, two more projects of socioeconomic development and agriculture will be approved for Sindh by the Joint Working Group. He said this, talking to the media just after attending the convocatio
Published 24 Dec, 2018 12:00am
CM foresees Sindh's two more projects in CPEC

CM foresees Sindh's two more projects in CPEC

Sindh Chef Minister Syed Murad Ali Shah has said that in the CPEC, two more projects of socioeconomic development and agriculture will be approved for Sindh by the Joint Working Group. He said this, talking to the media just after attending the convocatio
Published 24 Dec, 2018 12:00am
Rashid inaugurates Rehman Baba Express train service

Rashid inaugurates Rehman Baba Express train service

Federal Minister for Railways Sheikh Rashid Ahmad on Sunday inaugurated high speed Rehman Baba Express train from Peshawar to Karachi with record lower fare of Rs 1350 for 26-hour journey instead of 34-hour earlier on. Addressing the inaugural ceremony, S
Published 24 Dec, 2018 12:00am
Afghan president appoints Pakistan critics to 2 top posts

Afghan president appoints Pakistan critics to 2 top posts

Afghan President Ashraf Ghani appointed hard-line opponents of neighbouring Pakistan to two top security posts on Sunday, potentially complicating US efforts to revive peace talks with the Taliban ahead of next summer's withdrawal of 7,000 American troops
Published 24 Dec, 2018 12:00am
Afghan president appoints Pakistan critics to 2 top posts

Afghan president appoints Pakistan critics to 2 top posts

Afghan President Ashraf Ghani appointed hard-line opponents of neighbouring Pakistan to two top security posts on Sunday, potentially complicating US efforts to revive peace talks with the Taliban ahead of next summer's withdrawal of 7,000 American troops
Published 24 Dec, 2018 12:00am
Another 'mini-budget'

Another 'mini-budget'

In a briefing to the Senate Standing Committee (SSC) on Finance, Asad Umer, Federal Minister of Finance, hinted at a number of initiatives likely to be taken by the present government to rehabilitate the economy. The government, he said, will present a "m
Published 24 Dec, 2018 12:00am
Trump's unending follies

Trump's unending follies

Donald Trump has proved to be the most erratic President in history of the US. A string of whimsical, knee-jerk decisions has roiled the domestic scene as well as the world's strategic landscape. His latest gaffe may prove the most asinine of all. In a su
Published 24 Dec, 2018 12:00am
More assistance as promised!
Currency

More assistance as promised!

Three billion dollars will be deposited in the State Bank of Pakistan (SBP) in support of "the country's financial and monetary policy... and to enhance liquidity and monetary reserves of foreign currencies." This time around the information was released
Published 24 Dec, 2018 12:00am
The state of democracy

The state of democracy

Democracy is under dissent. That itself is a democratic principle. To disagree with what is democratic and what is not is part of being democratic. The world's democracies are themselves undergoing tremendous debate. Is the US a true established democracy
Published 24 Dec, 2018 12:00am
US share buybacks at records despite congressional griping
Mutual Funds

US share buybacks at records despite congressional griping

US corporate share repurchases keep setting new records, a trend some experts expect to persist despite bipartisan unease on Capitol Hill and a weaker economic outlook that could crimp profits. Fueled with windfalls from the 2017 tax cut and cheap debt, c
Published 24 Dec, 2018 12:00am
Ailing energy sector - II

Ailing energy sector - II

  1. Efficient (Green) Buildings: Though buildings use over 40 % of total energy the world over and we have required Building Code (developed by us for the Ministry first in 1987) for compliance, no one checks the building design before approval, resulting
Published 24 Dec, 2018 12:00am
Prices of essential kitchen items witness downward trend

Prices of essential kitchen items witness downward trend

The prices of essential food items, including vegetable, pulses, chicken meat, eggs, sugar and others, registered a declining trend, giving a sign of relief to the poverty-stricken masses. According to a survey conducted by Business Recorder here o
Published 24 Dec, 2018 12:00am
KP CM vows to boost tourism

KP CM vows to boost tourism

Chief Minister Khyber Pakhtunkhwa Mahmood Khan has said that tourism, natural advantages of the province, hydro electric undertakings, agriculture productivity and land computerization would be the key areas of his government in the next five-year plans.
Published 24 Dec, 2018 12:00am
KP CM vows to boost tourism

KP CM vows to boost tourism

Chief Minister Khyber Pakhtunkhwa Mahmood Khan has said that tourism, natural advantages of the province, hydro electric undertakings, agriculture productivity and land computerization would be the key areas of his government in the next five-year plans.
Published 24 Dec, 2018 12:00am
New LG system to bring revolution: Aleem

New LG system to bring revolution: Aleem

Senior Minister Punjab Abdul Aleem Khan has said that new era of progress and prosperity has been started while new local bodies system in Punjab would bring revolution in 25,000 villages simultaneously. He added that trust shown by international communit
Published 24 Dec, 2018 12:00am
JI demands task force for solving growers' problems

JI demands task force for solving growers' problems

Chief of Jamaat-e-Islami, Senator Sirajul Haq, has impressed upon the prime minister to arrange improved seed and subsidized fertilizer to the growers instead of talking of eggs and poultry. Addressing a Kissan Convention at Mansoora on Sunday, he said th
Published 24 Dec, 2018 12:00am
Government urged to make Azakhel dry port operational

Government urged to make Azakhel dry port operational

Businessmen have demanded of the federal government to make the Azakhel dry port operational and to provide facilities in dry port at Peshawar cantonment. They also urged to launch a special cargo train from Peshawar. The demands were made by Sarhad Chamb
Published 24 Dec, 2018 12:00am
TSML approaches PM's adviser to get feedstock gas at cheaper rates

TSML approaches PM's adviser to get feedstock gas at cheaper rates

M/s Tuwairqi Steel Mills Limited (TSML) has reportedly approached Prime Minister's Adviser Abdul Razak Dawood, to seek his help to get feedstock gas at cheaper rates to strike a deal with CEINA Group, well-informed sources in Ministry of Industries and Pr
Published 24 Dec, 2018 12:00am
General Bajwa helped end Pakistan's isolation: Elahi

General Bajwa helped end Pakistan's isolation: Elahi

Speaker Punjab Assembly Ch Parvez Elahi has said that silent diplomacy of Army Chief General Qamar Javed Bajwa has played very important and effective role in pulling Pakistan out of isolation at the international level. Talking to media here on Sunday, h
Published 24 Dec, 2018 12:00am
KP Food Department: AGP detects over Rs 1.188 billion losses

KP Food Department: AGP detects over Rs 1.188 billion losses

The Accountant General of Pakistan (AGP) has detected a huge losses of Rs 1188.09 million in fifteen cases due to supply of defective wheat, unnecessary payment, purchase of wheat at higher rate, auction of damaged wheat, non-deduction of income tax from
Published 24 Dec, 2018 12:00am
FM's four-nation tour begins today

FM's four-nation tour begins today

Foreign Minister Shah Mehmood Qureshi will embark on a four-nation tour on Monday (today) as a part of the government's policy of outreach in the neighbourhood for an enhanced bilateral ties and economic cooperation, Foreign Office said According to Forei
Published 24 Dec, 2018 12:00am
Nawaz, Shahbaz discuss possible AC verdict, future strategy

Nawaz, Shahbaz discuss possible AC verdict, future strategy

Former prime minister Nawaz Sharif and his younger brother Shehbaz Sharif on Sunday held a meeting at the Ministers' Enclave ahead of accountability court's verdict in the Al Azizia and Flagship Investment references to be announced today (Monday).
Published 24 Dec, 2018 12:00am
FFCL signs financing agreement for TEL power project

FFCL signs financing agreement for TEL power project

Pakistan's largest chemical fertilizer producer, Fauji Fertilizer Company Limited (FFCL), along with other equity partners, has signed financing agreement for its 330MW Thar Energy Limited (TEL) power project at the 8th Joint Coordination Committee (JCC)
Published 24 Dec, 2018 12:00am
Huge quantity of substandard spices seized in KP

Huge quantity of substandard spices seized in KP

Khyber Pakhtunkhwa Food Safety and Halal Food Authority, while taking action on public complaints on Sunday confiscated a huge quantity of substandard spices during ongoing crackdown at different business premises in Peshawar. Talking to media persons her
Published 24 Dec, 2018 12:00am
Naeem rules out possibility of mid-term polls

Naeem rules out possibility of mid-term polls

Special Assistant to Prime Minister for Political Affairs Naeemul Haq has said the government should confiscate Jati Umra farmhouse of former prime minister Nawaz Sharif and Bilawal House of former president Asif Ali Zardari on account of their corruption
Published 24 Dec, 2018 12:00am
APCEA denies reports about gemstone, mineral sectors

APCEA denies reports about gemstone, mineral sectors

All Pakistan Commercial Exporters Association (APCEA) chairman Engr Manzoor Elahi has taken strong exception over reports about gemstone, mineral and carpet sectors, called them as fabricated and unsubstantiated. According to a press statement issued here
Published 24 Dec, 2018 12:00am
Fugitives involved in corruption will be brought back: NAB chief

Fugitives involved in corruption will be brought back: NAB chief

Chairman National Accountability Bureau (NAB) former Justice Javed Iqbal has said that fugitives involved in corruption would be brought back to the country through Interpol to face the law. In a statement on Sunday, the chairman NAB said that money loote
Published 24 Dec, 2018 12:00am
Maryam vows to raise voice for justice

Maryam vows to raise voice for justice

As all eyes are on the accountability court's Monday's verdict, Maryam Nawaz Sharif has vowed to play role as a Pakistan Muslim League-Nawaz worker to raise voice for justice for party leader Nawaz Sharif, media close to Sharif family stated. They said th
Published 24 Dec, 2018 12:00am
Trade can be enhanced by developing B2B linkages: Russian envoy

Trade can be enhanced by developing B2B linkages: Russian envoy

Volume of bilateral trade between Russia and Pakistan has jumped from $ 400 million to 600 million during last three years; however it could be further enhanced manifold by developing B2B linkages, said Dr Sergei Baranov, Commercial Counselor, Embassy of
Published 24 Dec, 2018 12:00am
PFA removes 24,125 litres of unfit ice cream, desserts

PFA removes 24,125 litres of unfit ice cream, desserts

In the light of laboratory report, the crackdown of Punjab Food Authority (PFA) is being continued against hazardous ice cream and frozen desserts across the city here on Sunday. On the directions of PFA director general Captain Muhammad Usman (retd), foo
Published 24 Dec, 2018 12:00am
PM convenes meeting of senior PTI leaders today

PM convenes meeting of senior PTI leaders today

Prime Minister Imran Khan has convened a consultative meeting of senior Pakistan Tehreek-e-Insaf (PTI) leaders to meet today to discuss the situation in the wake of accountability court decision on Al Azizia and Flagship references against former Prime Mi
Published 24 Dec, 2018 12:00am
Germany backs Canada over citizens held in China

Germany backs Canada over citizens held in China

Germany expressed serious concern Sunday about the detention of Canadian nationals in China, a day after Ottawa called on allies for support in securing their release. The German foreign ministry said it was closely following the cases of former diplomat
Published 24 Dec, 2018 12:00am
British ex-Lib Dem leader Paddy Ashdown dies

British ex-Lib Dem leader Paddy Ashdown dies

Paddy Ashdown, the former leader of Britain's Liberal Democrats who served as the international high representative for Bosnia and Herzegovina, died Saturday at the age of 77, his party announced. He made an "immeasurable contribution to furthering the ca
Published 24 Dec, 2018 12:00am
Turkey, Israel in new war of words

Turkey, Israel in new war of words

Turkish President Recep Tayyip Erdogan on Sunday lambasted Israeli Prime Minister Benjamin Netanyahu as an "oppressor" after he accused Turkey of "massacres" against Kurds in a new war of words. Netanyahu hit back in a speech later Sunday, calling Erdogan
Published 24 Dec, 2018 12:00am
Pair freed without charge in drones probe

Pair freed without charge in drones probe

A man and a woman arrested over the drone disruption that brought Christmas getaway flights to a standstill at London's Gatwick Airport were released without charge on Sunday, police said. A 47-year-old man and a 54-year-old woman from the town of Crawley
Published 24 Dec, 2018 12:00am
SpaceX blasts off powerful GPS satellite for US military

SpaceX blasts off powerful GPS satellite for US military

A SpaceX rocket on Sunday blasted off a powerful GPS satellite for the US Air Force, marking its 21st and final launch for the year 2018. "Three, two, one, zero. Ignition and liftoff," said a SpaceX mission control operator as the white Falcon 9 rocket to
Published 24 Dec, 2018 12:00am
Syria security chief makes rare visit to Egypt

Syria security chief makes rare visit to Egypt

Syrian security services chief Ali Mamluk held talks with Egyptian officials in Cairo over the weekend on a rare visit to the country, Syrian state media said Sunday. His Saturday visit came "at the invitation of" Egyptian intelligence chief Abbas Kamel,
Published 24 Dec, 2018 12:00am
Bangladesh says foreign election observers welcome, rejects US criticism

Bangladesh says foreign election observers welcome, rejects US criticism

Bangladesh said on Sunday it had approved 175 foreign observers for next weekend's national election, dismissing US criticism for failing to secure accreditation for a US funded monitor. Past elections have been chaotic and sometimes violent. Internationa
Published 24 Dec, 2018 12:00am
Hamas rejects Abbas plan to dissolve Palestinian parliament

Hamas rejects Abbas plan to dissolve Palestinian parliament

Hamas on Sunday denounced Palestinian president Mahmud Abbas's plan to dissolve the largely defunct Palestinian parliament that it controls, calling it a move to "serve his partisan interests". Abbas said Saturday he intended to dissolve the Palestinian L
Published 24 Dec, 2018 12:00am
Head of UN ceasefire monitors arrives in Yemen's Hodeida

Head of UN ceasefire monitors arrives in Yemen's Hodeida

The head of the United Nations team tasked with monitoring a fragile ceasefire arrived in Yemen's embattled port city of Hodeida on Sunday, a UN source said. Retired Dutch general Patrick Cammaert is heading a joint committee including members of the gove
Published 24 Dec, 2018 12:00am
Macron calls for order after 'yellow vest' attack on police

Macron calls for order after 'yellow vest' attack on police

French President Emmanuel Macron called for "order" on Sunday after a sixth weekend of "yellow vest" anti-government protests marked by dwindling participation and a violent attack on police in Paris. Speaking during a visit to the central African state o
Published 24 Dec, 2018 12:00am
With budget talks stalled, US girds for lengthy government shutdown

With budget talks stalled, US girds for lengthy government shutdown

The United States on Sunday entered day two of a government shutdown gridlocking Washington that the White House budget director said could persist into the new year and the next Congress. A budget deal to end the partial shutdown - which forced several k
Published 24 Dec, 2018 12:00am
With budget talks stalled, US girds for lengthy government shutdown

With budget talks stalled, US girds for lengthy government shutdown

The United States on Sunday entered day two of a government shutdown gridlocking Washington that the White House budget director said could persist into the new year and the next Congress. A budget deal to end the partial shutdown - which forced several k
Published 24 Dec, 2018 12:00am
Saudi index recovers after banks decline on tax payments

Saudi index recovers after banks decline on tax payments

Saudi shares recovered some ground on Sunday after a sell-off in the banking sector when lenders said they had reached a deal with Islamic tax authorities to resolve a dispute over increased liabilities that would still result in big one-off payments.
Published 24 Dec, 2018 12:00am
Bucharest stocks turn top CEE losers from top gainers

Bucharest stocks turn top CEE losers from top gainers

Romanian stocks headed towards their worst weekly performance in more than seven years as the government was expected to approve tax measures later on Friday that will hit various business sectors. The Bucharest bourse's index fell 3.5 percent to its lowe
Published 24 Dec, 2018 12:00am
China keeps short-term borrowing rates steady after Fed hike

China keeps short-term borrowing rates steady after Fed hike

China's central bank left its short-term borrowing rates unchanged on Thursday, choosing not to follow its US counterpart, which raised its benchmark rate just hours earlier. The decision follows the bank's announcement Wednesday of a new lending tool, th
Published 24 Dec, 2018 12:00am
China money rates fall

China money rates fall

China's primary money rates fell this week after the central bank resumed liquidity injections through its regular open market operations, following a long hiatus, and as it introduced a tool for targeted lending with lower interest. On Monday, the People
Published 24 Dec, 2018 12:00am
Bankers take first step towards replacing scandal-hit Euribor rate
Libor

Bankers take first step towards replacing scandal-hit Euribor rate

Eurozone bankers took a first, tentative step on Thursday towards ditching their scandal-hit Euribor interest rate and finding a new benchmark for trillions of euros worth of mortgages and derivatives. The industry has been at an impasse since it emerged
Published 24 Dec, 2018 12:00am
Bankers take first step towards replacing scandal-hit Euribor rate
Libor

Bankers take first step towards replacing scandal-hit Euribor rate

Eurozone bankers took a first, tentative step on Thursday towards ditching their scandal-hit Euribor interest rate and finding a new benchmark for trillions of euros worth of mortgages and derivatives. The industry has been at an impasse since it emerged
Published 24 Dec, 2018 12:00am
Nasdaq goes bear as momentum plays run out of gas

Nasdaq goes bear as momentum plays run out of gas

Investors are finding out that it is not all puppies and unicorns when it comes to momentum plays, in a painful lesson as the Nasdaq tumbles to the edge of a bear market. Investors reaped fat gains through the final stages of the long-running bull market
Published 24 Dec, 2018 12:00am
Cryptocurrency industry faces insurance hurdle
Currency

Cryptocurrency industry faces insurance hurdle

Cryptocurrency exchanges and traders in Asia are struggling to insure themselves against the risk of hacks and theft, a factor they claim is deterring large fund managers from investing in a nascent market yet to be embraced by regulators. Getting the buy
Published 24 Dec, 2018 12:00am
After dire 2018, chastened funds tout emerging FX again
Currency

After dire 2018, chastened funds tout emerging FX again

Emerging market currencies have had one of their worst years in a decade, but bruised investors tempted by what they see as cheap valuations are hoping the US dollar's eight-month resurgence will end and the world won't tip into recession.
Published 24 Dec, 2018 12:00am
After dire 2018, chastened funds tout emerging FX again
Currency

After dire 2018, chastened funds tout emerging FX again

Emerging market currencies have had one of their worst years in a decade, but bruised investors tempted by what they see as cheap valuations are hoping the US dollar's eight-month resurgence will end and the world won't tip into recession.
Published 24 Dec, 2018 12:00am
Oil market likely to rebalance early 2019

Oil market likely to rebalance early 2019

Oil ministers from leading Opec nations said on Sunday they expect prices will arrest their recent slide and rebalance early next year, when a deal on new production cuts takes effect. Oil prices have shed more than 36 percent since early October to trade
Published 24 Dec, 2018 12:00am
Tesla cuts Model three prices in China

Tesla cuts Model three prices in China

Tesla Inc has slashed prices on its Model 3 electric car in China. According to the California-based electric carmaker's Chinese website, prices of certain Model 3 cars were cut by up to 7.6 percent. The starting price for a Model 3 in China now is 499,00
Published 24 Dec, 2018 12:00am
Venezuela navy intercepts Exxon oil ship

Venezuela navy intercepts Exxon oil ship

Venezuela's navy on Saturday "intercepted" a ship exploring for oil on behalf of Exxon Mobil Corp in Guyanese waters, neighboring Guyana's foreign ministry said in a statement, in the latest incident in a century-old border dispute. A series of offshore o
Published 24 Dec, 2018 12:00am
China and US 'make progress' after trade call

China and US 'make progress' after trade call

China and the US "made new progress" on the issues of trade balance and intellectual property during a phone call between officials from the two countries, China's commerce ministry said Sunday. Both sides are engaged in a bruising trade war but relations
Published 24 Dec, 2018 12:00am
China mulls new foreign investment law

China mulls new foreign investment law

China's legislature is considering a new law governing foreign investment that will streamline existing rules and prevent the forced transfer of technology, state media reported Sunday. The new "unified law" will replace three existing laws on Chinese and
Published 24 Dec, 2018 12:00am
Fresh bread price protests hit Sudan
Currency

Fresh bread price protests hit Sudan

Fresh protests against bread price hikes in Sudan hit two cities Sunday, as riot police ensured an uneasy calm in the capital Khartoum five days into demonstrations that have claimed at least eight lives. Residents in Um Rawaba, 200 kilometres southwest o
Published 24 Dec, 2018 12:00am
Italy Senate passes revised budget after EU standoff

Italy Senate passes revised budget after EU standoff

The Italian Senate on Sunday passed a revised 2019 budget agreed after a tense standoff with Brussels which saw the populist government water down key measures. Senators passed the budget put forward by the governing coalition of the anti-establishment Fi
Published 24 Dec, 2018 12:00am
Dubai to launch taxi venture with Careem

Dubai to launch taxi venture with Careem

Dubai's transport regulator is to launch a new taxi service with Careem, a ride-hailing rival to Uber in the Middle East. The emirate's Roads and Transport Authority (RTA) said the deal was the first in the world between a state transport authority and a
Published 24 Dec, 2018 12:00am
Ghosn detention extended over Christmas and New Year

Ghosn detention extended over Christmas and New Year

Former Nissan boss Carlos Ghosn will be spending Christmas and the beginning of 2019 behind bars after a Tokyo court on Sunday extended his detention through to January 1. The court's decision is the latest twist in a rollercoaster saga that has gripped J
Published 24 Dec, 2018 12:00am
Britain's 'Big Four' accounting firms face major overhaul

Britain's 'Big Four' accounting firms face major overhaul

Britain's "Big Four" accounting firms face a radical shake-up from proposals to reduce their hold on the market for auditing companies' books, which would also force them to separate their audit and advisory businesses. The plans, published on Tuesday in
Published 24 Dec, 2018 12:00am
Renault-Nissan: only merging makes financial sense

Renault-Nissan: only merging makes financial sense

If it didn't already exist, nobody of sound mind would invent the current Renault-Nissan Motor alliance. The only sensible financial arrangement between the French and Japanese carmakers is a full-blown merger. That looks unlikely for now.
Published 24 Dec, 2018 12:00am
Guess fined $45 million for blocking EU cross-border sales

Guess fined $45 million for blocking EU cross-border sales

European Union antitrust regulators fined US clothing company Guess 40 million euros ($45.3 million) on Monday for illegally blocking cross-border sales in Europe, part of a crackdown against illegal practices blocking e-commerce in the EU.
Published 24 Dec, 2018 12:00am
GSK, Pfizer to merge consumer healthcare units

GSK, Pfizer to merge consumer healthcare units

Pharmaceutical giants GlaxoSmithKline and Pfizer on Wednesday announced a merger of their consumer healthcare units that produce over-the-counter medicines. GSK said it would have a 68-percent controlling equity interest in the GSK Consumer Healthcare joi
Published 24 Dec, 2018 12:00am
General Mills posts quarterly profit above estimates

General Mills posts quarterly profit above estimates

General Mills Inc reported quarterly profit above Wall Street estimates on Wednesday, as the Cheerios cereal maker raised prices and eked out higher margins from cost savings. General Mills shares, which have fallen about 38 percent since the start of the
Published 24 Dec, 2018 12:00am
Accenture quarterly revenue beats on digital, cloud

Accenture quarterly revenue beats on digital, cloud

Accenture Plc beat Wall Street estimates for first-quarter revenue on Thursday, as the consulting and outsourcing services provider reaped rewards from investments in digital and cloud services. Much of Accenture's recent growth has been driven by digital
Published 24 Dec, 2018 12:00am
Accenture quarterly revenue beats on digital, cloud

Accenture quarterly revenue beats on digital, cloud

Accenture Plc beat Wall Street estimates for first-quarter revenue on Thursday, as the consulting and outsourcing services provider reaped rewards from investments in digital and cloud services. Much of Accenture's recent growth has been driven by digital
Published 24 Dec, 2018 12:00am
Volkswagen buys Volvo's connected car unit for $122 million

Volkswagen buys Volvo's connected car unit for $122 million

Volkswagen (VW) is buying a controlling stake in Volvo's WirelessCar, a digital service developer specialising in connected driving, for 1.1 billion Swedish crowns ($122 million), the companies said on Wednesday. VW said WirelessCar technology would furth
Published 24 Dec, 2018 12:00am
5G: a revolution not without risks

5G: a revolution not without risks

The recent diplomatic dust-up over Chinese telecoms company Huawei, one of the leaders in developing equipment for fifth-generation mobile networks, has demonstrated that this technology which promises to enable an internet of things and self-driving vehi
Published 24 Dec, 2018 12:00am
EU electricity reform calls end to coal subsidies

EU electricity reform calls end to coal subsidies

European Union member states and the European Parliament agreed Wednesday to reform the bloc's electricity market, including a call to end coal subsidies by 2025. The reform, clinched after marathon talks, broadly aims to develop a more transparent and co
Published 24 Dec, 2018 12:00am
Untapped workforce for Israel's growing high-tech sector

Untapped workforce for Israel's growing high-tech sector

The growth of Israel's powerful high-tech sector is not being matched by adequate increases in employee numbers, a report said Sunday, with recruitment of more women, and Arabs and ultra-Orthodox Jewish men needed. Israel's high-tech sector - an industry
Published 24 Dec, 2018 12:00am
'Smart' uniforms track Chinese students in truancy fight

'Smart' uniforms track Chinese students in truancy fight

Schools in southern China are using chip-powered "smart" school uniforms to track their students in a bid to tackle truancy and boost attendance, according to state media. The uniforms use chips to monitor the location of students and can record their exi
Published 24 Dec, 2018 12:00am
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