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Print - 2018-12-31
1,300 eateries sealed in KP for flouting food safety rules

1,300 eateries sealed in KP for flouting food safety rules

Khyber Pakhtunkhwa Food Safety and Halal Food Authority on Sunday claimed that it had closed down around 1300 premises and also imposed fines of Rs 80 million on eateries for violating food safety rules in different crackdown during year 2018. According t
Published 31 Dec, 2018 12:00am
WSSP directed to improve performance

WSSP directed to improve performance

Pakistan Tehreek-i-Insaf (PTI) MNA, Haji Shuakat Ali has expressed displeasure over poor cleanliness in different parts of provincial metropolis Peshawar and directed the Water and Sanitation Services Peshawar to improve performance in next three months.
Published 31 Dec, 2018 12:00am
PPP, PML-N's tactics to save looted money go down the drain: Aleem Khan

PPP, PML-N's tactics to save looted money go down the drain: Aleem Khan

Senior Minister Punjab Abdul Aleem Khan has said that all tactics to save looted money have gone to waste and real faces of PPP & Nawaz league have been revealed before masses. Those who were leveling allegation on others are now caught and especially Sha
Published 31 Dec, 2018 12:00am
Khursheed sees developments leading to civilian martial law

Khursheed sees developments leading to civilian martial law

Pakistan Peoples Party (PPP) leader Khursheed Shah on Sunday warned that any attempt to arrest party chairman Bilawal Bhutto-Zardari could plunge the country into chaos as people would take to the streets against his arrest. "A lot of courage is needed to
Published 31 Dec, 2018 12:00am
Commissioner's assurance to traders

Commissioner's assurance to traders

Commissioner Karachi Iftekhar Shalwani on Sunday said that traders' problem will be resolved on priority basis as they are the backbone of country's economy, development and prosperity. He said this while talking to a delegation of Hydari Market Traders A
Published 31 Dec, 2018 12:00am
Rs 25 million transaction found in blind man's account

Rs 25 million transaction found in blind man's account

Blind sesame seed cookie vendor has overnight turned out to be owner of a company and 25 million rupees. It was revealed to Liaquat, who sells sesame seed cookies in Saddar areas, only after a team of the Federal Board of Revenue (FBR) approached him at h
Published 31 Dec, 2018 12:00am
Accountability being used as tool to promote 'one-party rule': ANP

Accountability being used as tool to promote 'one-party rule': ANP

ANP's general secretary, Mian Iftikhar Hussain has said that accountability is being used as tool to promote 'one-party rule' in the country and stressed on all political leadership to unite for combating threats to democracy. He was addressing a grand-ni
Published 31 Dec, 2018 12:00am
AGP detects financial mismanagement in KP accounts Department

AGP detects financial mismanagement in KP accounts Department

The Auditor General of Pakistan (AGP) has detected three cases to the tone of Rs2.668 billion of unauthorized loaning and issuance of wheat to irrelevant flour mills by the Khyber Pakhtunkhwa Food Department during financial year 2014-15, said AGP Report
Published 31 Dec, 2018 12:00am
Sherpao for transparency in accountability

Sherpao for transparency in accountability

Qaumi Watan Party (QWP) Chairman Aftab Ahmad Khan Sherpao said on Sunday that the process of accountability should be carried out in a transparent manner. He was speaking at the condolence reference for deceased party leader Kifayat Ali Advocate in the No
Published 31 Dec, 2018 12:00am
Prices of essential kitchen items witness mixed trend

Prices of essential kitchen items witness mixed trend

Mixed trend in prices of important kitchen items, including vegetable, pulses, chicken meat, eggs, sugar, and others was witnessed in retail market, said in a survey carried out by Business Recorder here on Sunday. The survey noticed that the price
Published 31 Dec, 2018 12:00am
Ahsan terms Imran major national security threat

Ahsan terms Imran major national security threat

Pakistan Muslim League-Nawaz (PML-N) leader and former interior minister Ahsan Iqbal said Prime Minister Imran Khan is a major security threat. "No one can stop value of rupee for 4 years artificially. The rupee is receiving kicks like football today. And
Published 31 Dec, 2018 12:00am
TLP leader Qadri hospitalised

TLP leader Qadri hospitalised

Tehreek-e-Labbaik Pakistan (TLP) leader Pir Afzal Qadri on Sunday was admitted to a hospital after complaining of chest pain. Qadri was shifted to Armed Forces Institute of Cardiology (AFIC) in Rawalpindi from Gujrat jail, where he is confined over treaso
Published 31 Dec, 2018 12:00am
Zulfi demands chief minister Murad's Resignation

Zulfi demands chief minister Murad's Resignation

Special Assistant to Prime Minister Imran Khan on Overseas Pakistanis and Human Resource Development, Zulfikar Abbas Bukhari on Sunday demanded the resignation of Sindh Chief Minister Sayed Murad Ali Shah. In a tweeter message Zulfi Bukhari wrote, "While
Published 31 Dec, 2018 12:00am
PHC approached for dismissal of ATIR chairman

PHC approached for dismissal of ATIR chairman

Peshawar High Court (PHC) has summoned Principal Secretary to Prime Minister, Chairman Federal Public Service Commission, National Accountability Bureau (NAB) official and Chairman Appellate Tribunal Inland Revenue (ATIR) for January 11, 2019 to hear the
Published 31 Dec, 2018 12:00am
Peshawar Press Club election held

Peshawar Press Club election held

Senior journalist, Syed Bukhar Shah of the Progressive Panel has been elected president of Peshawar Press Club (PPC) while Zafar Iqbal elected as general secretary. Aneela Shaheen made a record by electing as first woman elected as vice president of the c
Published 31 Dec, 2018 12:00am
SECP authorises OPF to maintain databank of independent directors

SECP authorises OPF to maintain databank of independent directors

Securities and Exchange Commission of Pakistan (SECP) has authorized Overseas Pakistani Foundation (OPF) to create and maintain databank of independent directors and post such data on its website for appointment of directors. In this regard, the SECP has
Published 31 Dec, 2018 12:00am
Gas crisis to be resolved soon: minister

Gas crisis to be resolved soon: minister

Minister for Petroleum Ghulam Sarwar Khan on Sunday said that the present government of Pakistan Tehreek-e-Insaf (PTI) would fulfil all the promises made with the masses and would come up to their expectations. Petroleum Minister was talking to delegation
Published 31 Dec, 2018 12:00am
Mini-budget on the cards

Mini-budget on the cards

The nation seems to have been facing the brunt of PML-N government's corruption and the incumbent PTI government's incompetence. That is why perhaps a mini-budget is on the cards to add to people's woes. It has been reported by media that the government i
Published 31 Dec, 2018 12:00am
Prolonged US shutdown threatens to unsettle economy

Prolonged US shutdown threatens to unsettle economy

The paralysis triggered by the US government shutdown could have unexpected consequences, such as muddying economic statistics just as the markets are extremely reactive to any whiff of uncertainty. More than a week into the game of chicken between Presid
Published 31 Dec, 2018 12:00am
To legalize the immoral

To legalize the immoral

Laws are made by lawmakers. Lawmakers can bend, twist, break and remake the rules and "privileges" that govern a country. The role of the lawmakers in a democracy is to make laws that create justice for those whom they represent. However, when lawmakers a
Published 31 Dec, 2018 12:00am
Bank deposits

Bank deposits

Pakistan's credit to Gross Domestic Product (GDP) ratio is one of the lowest in the region, peaking at 27 percent in 2008 and falling to less than 13 percent in fiscal year 2015 reflecting poorly on the country's drive towards reducing the informal econom
Published 31 Dec, 2018 12:00am
Whither PTI's reform agenda?

Whither PTI's reform agenda?

Some of the important reforms Imran Khan promised to undertake in his election manifesto have run into roadblocks erected not by the opposition but entrenched interests within his party. Soon after the PTI formed government in Punjab, in an attempt to dep
Published 31 Dec, 2018 12:00am
The Pakistan Banao Certificate
Currency

The Pakistan Banao Certificate

The government of Pakistan seems to be determined to try all the options to bridge the gap in the external sector accounts before finalising a bailout package with the IMF. According to a report in this newspaper on 27th December, 2018, the federal govern
Published 31 Dec, 2018 12:00am
Cyber-attack hits US newspaper deliveries

Cyber-attack hits US newspaper deliveries

A malware attack that appears to have originated outside the US delayed the hardcopy distribution of several major newspapers, according to a report. The LA Times said Saturday that the attack, which was first assumed to have been a server outage, hit a c
Published 31 Dec, 2018 12:00am
Cyber-attack hits US newspaper deliveries

Cyber-attack hits US newspaper deliveries

A malware attack that appears to have originated outside the US delayed the hardcopy distribution of several major newspapers, according to a report. The LA Times said Saturday that the attack, which was first assumed to have been a server outage, hit a c
Published 31 Dec, 2018 12:00am
FBR examining proposals to clear refund backlog

FBR examining proposals to clear refund backlog

The Federal Board of Revenue (FBR) is examining different proposals in consultation with State Bank of Pakistan (SBP) for clearance of pending refunds, including issuance of bonds worth Rs 100 billion in a phase-wise manner. Sources said that various prop
Published 31 Dec, 2018 12:00am
FBR examining proposals to clear refund backlog

FBR examining proposals to clear refund backlog

The Federal Board of Revenue (FBR) is examining different proposals in consultation with State Bank of Pakistan (SBP) for clearance of pending refunds, including issuance of bonds worth Rs 100 billion in a phase-wise manner. Sources said that various prop
Published 31 Dec, 2018 12:00am
FBR examining proposals to clear refund backlog

FBR examining proposals to clear refund backlog

The Federal Board of Revenue (FBR) is examining different proposals in consultation with State Bank of Pakistan (SBP) for clearance of pending refunds, including issuance of bonds worth Rs 100 billion in a phase-wise manner. Sources said that various prop
Published 31 Dec, 2018 12:00am
SC orders registration of cases against water thieves

SC orders registration of cases against water thieves

The Supreme Court has ordered Punjab Irrigation department to launch an operation against water thieves with the help of police and register cases against them. A two-member bench headed by Chief Justice Saqib Nisar while hearing a complaint about water t
Published 31 Dec, 2018 12:00am
SC orders registration of cases against water thieves

SC orders registration of cases against water thieves

The Supreme Court has ordered Punjab Irrigation department to launch an operation against water thieves with the help of police and register cases against them. A two-member bench headed by Chief Justice Saqib Nisar while hearing a complaint about water t
Published 31 Dec, 2018 12:00am
SC orders registration of cases against water thieves

SC orders registration of cases against water thieves

The Supreme Court has ordered Punjab Irrigation department to launch an operation against water thieves with the help of police and register cases against them. A two-member bench headed by Chief Justice Saqib Nisar while hearing a complaint about water t
Published 31 Dec, 2018 12:00am
Nearly 100 'delinquent' KW&SB officers relieved

Nearly 100 'delinquent' KW&SB officers relieved

Karachi Water and Sewerage Board (KW&SB) has relieved with immediate effect as many as 96 'delinquent' officers (BS 17 & 18) of their present places of posting, asking them to report to the office of Director Personal Human Resource Department & Administr
Published 31 Dec, 2018 12:00am
Nearly 100 'delinquent' KW&SB officers relieved

Nearly 100 'delinquent' KW&SB officers relieved

Karachi Water and Sewerage Board (KW&SB) has relieved with immediate effect as many as 96 'delinquent' officers (BS 17 & 18) of their present places of posting, asking them to report to the office of Director Personal Human Resource Department & Administr
Published 31 Dec, 2018 12:00am
Hasina set for landslide win as opposition demands new vote

Hasina set for landslide win as opposition demands new vote

Bangladesh Prime Minister Sheikh Hasina was heading for a landslide win in a general election Sunday that was marred by opposition claims of vote-rigging and violence between rival supporters that killed at least 17 people.
Published 31 Dec, 2018 12:00am
Hasina set for landslide win as opposition demands new vote

Hasina set for landslide win as opposition demands new vote

Bangladesh Prime Minister Sheikh Hasina was heading for a landslide win in a general election Sunday that was marred by opposition claims of vote-rigging and violence between rival supporters that killed at least 17 people.
Published 31 Dec, 2018 12:00am
Removal of names from ECL: NAB's plea turned down by SC

Removal of names from ECL: NAB's plea turned down by SC

The Supreme Court turned down National Accountability Bureau (NAB) request to keep the names of KASB Bank and BankIslami Ltd and A F Ferguson & Co. on exit control list (ECL). A three-member bench headed by Chief Justice Mian Saqib Nisar on December 27 ha
Published 31 Dec, 2018 12:00am
Removal of names from ECL: NAB's plea turned down by SC

Removal of names from ECL: NAB's plea turned down by SC

The Supreme Court turned down National Accountability Bureau (NAB) request to keep the names of KASB Bank and BankIslami Ltd and A F Ferguson & Co. on exit control list (ECL). A three-member bench headed by Chief Justice Mian Saqib Nisar on December 27 ha
Published 31 Dec, 2018 12:00am
India university official urges students to kill instead of complaining

India university official urges students to kill instead of complaining

A top official at a Indian state-run university urged his students to "murder" fellow students if confronted instead of complaining to him, amid a wave of violence being reported from across the state where the school is based. "If you're a student of thi
Published 31 Dec, 2018 12:00am
India university official urges students to kill instead of complaining

India university official urges students to kill instead of complaining

A top official at a Indian state-run university urged his students to "murder" fellow students if confronted instead of complaining to him, amid a wave of violence being reported from across the state where the school is based. "If you're a student of thi
Published 31 Dec, 2018 12:00am
PM to visit Turkey on January 3

PM to visit Turkey on January 3

Prime Minister Imran Khan will embark upon a two-day official visit to Turkey on January 3, 2019 at the invitation of Turkish President Recep Tayyip Erdogan. This will be the prime minister's first official visit to Turkey. He will be accompanied by a hig
Published 31 Dec, 2018 12:00am
PM to visit Turkey on January 3

PM to visit Turkey on January 3

Prime Minister Imran Khan will embark upon a two-day official visit to Turkey on January 3, 2019 at the invitation of Turkish President Recep Tayyip Erdogan. This will be the prime minister's first official visit to Turkey. He will be accompanied by a hig
Published 31 Dec, 2018 12:00am
Afghanistan to delay presidential election to July

Afghanistan to delay presidential election to July

Afghanistan's presidential election will be postponed by three months to July 20 to give authorities more time to organise the ballot, election authorities announced on Sunday, following mounting speculation of a delay. The announcement follows heavy crit
Published 31 Dec, 2018 12:00am
Afghanistan to delay presidential election to July

Afghanistan to delay presidential election to July

Afghanistan's presidential election will be postponed by three months to July 20 to give authorities more time to organise the ballot, election authorities announced on Sunday, following mounting speculation of a delay. The announcement follows heavy crit
Published 31 Dec, 2018 12:00am
Taliban dismiss Afghanistan's peace talks offer

Taliban dismiss Afghanistan's peace talks offer

The Taliban have rejected Kabul's offer of talks next month in Saudi Arabia where the militants, fighting to restore strict Islamic law in Afghanistan, will meet US officials to further peace efforts, a Taliban leader said on Sunday. Representatives from
Published 31 Dec, 2018 12:00am
Taliban dismiss Afghanistan's peace talks offer

Taliban dismiss Afghanistan's peace talks offer

The Taliban have rejected Kabul's offer of talks next month in Saudi Arabia where the militants, fighting to restore strict Islamic law in Afghanistan, will meet US officials to further peace efforts, a Taliban leader said on Sunday. Representatives from
Published 31 Dec, 2018 12:00am
Pakistan, Qatar discuss Afghan situation

Pakistan, Qatar discuss Afghan situation

Pakistan and Qatar have agreed to boost bilateral trade between the two countries. This understanding came after a meeting between Foreign Minister Shah Mahmood Qureshi and his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al-Thani in Doha on Sunday.
Published 31 Dec, 2018 12:00am
Pakistan, Qatar discuss Afghan situation

Pakistan, Qatar discuss Afghan situation

Pakistan and Qatar have agreed to boost bilateral trade between the two countries. This understanding came after a meeting between Foreign Minister Shah Mahmood Qureshi and his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al-Thani in Doha on Sunday.
Published 31 Dec, 2018 12:00am
Pakistan, Qatar discuss Afghan situation

Pakistan, Qatar discuss Afghan situation

Pakistan and Qatar have agreed to boost bilateral trade between the two countries. This understanding came after a meeting between Foreign Minister Shah Mahmood Qureshi and his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al-Thani in Doha on Sunday.
Published 31 Dec, 2018 12:00am
Pakistan, Qatar discuss Afghan situation

Pakistan, Qatar discuss Afghan situation

Pakistan and Qatar have agreed to boost bilateral trade between the two countries. This understanding came after a meeting between Foreign Minister Shah Mahmood Qureshi and his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al-Thani in Doha on Sunday.
Published 31 Dec, 2018 12:00am
Refineries asked to ensure minimum production of FO

Refineries asked to ensure minimum production of FO

The Cabinet Committee on Energy (CCoE) has directed oil refineries to ensure minimum production of furnace oil (FO) as by-product of crude oil processing and constituted a Task Force to prepare Standard Operating Procedures (SOPs) for re-gasification at b
Published 31 Dec, 2018 12:00am
Refineries asked to ensure minimum production of FO

Refineries asked to ensure minimum production of FO

The Cabinet Committee on Energy (CCoE) has directed oil refineries to ensure minimum production of furnace oil (FO) as by-product of crude oil processing and constituted a Task Force to prepare Standard Operating Procedures (SOPs) for re-gasification at b
Published 31 Dec, 2018 12:00am
Refineries asked to ensure minimum production of FO

Refineries asked to ensure minimum production of FO

The Cabinet Committee on Energy (CCoE) has directed oil refineries to ensure minimum production of furnace oil (FO) as by-product of crude oil processing and constituted a Task Force to prepare Standard Operating Procedures (SOPs) for re-gasification at b
Published 31 Dec, 2018 12:00am
Futures spread up by 97 basis points

Futures spread up by 97 basis points

The futures spread increased by 97bps to 15.62 percent on the last day of the outgoing week. Trading activities on the futures counter improved significantly as average daily volumes increased by 250.5 percent to 122.82 million shares. Average daily tradi
Published 31 Dec, 2018 12:00am
Futures spread up by 97 basis points

Futures spread up by 97 basis points

The futures spread increased by 97bps to 15.62 percent on the last day of the outgoing week. Trading activities on the futures counter improved significantly as average daily volumes increased by 250.5 percent to 122.82 million shares. Average daily tradi
Published 31 Dec, 2018 12:00am
PPP disregards possibility of forward bloc

PPP disregards possibility of forward bloc

Adviser to the Sindh Chief Minister on Information and Archives, Law and Anti-Corruption Establishment, Barrister Murtaza Wahab, on Sunday said that Prime Minister Imran Khan should also be named in Exit Control List on the basis of an initial inquiry rep
Published 31 Dec, 2018 12:00am
PPP disregards possibility of forward bloc

PPP disregards possibility of forward bloc

Adviser to the Sindh Chief Minister on Information and Archives, Law and Anti-Corruption Establishment, Barrister Murtaza Wahab, on Sunday said that Prime Minister Imran Khan should also be named in Exit Control List on the basis of an initial inquiry rep
Published 31 Dec, 2018 12:00am
Fawad to visit Badin, Sukkur and Larkana

Fawad to visit Badin, Sukkur and Larkana

In the wake of damning Joint Investigation (JIT) report in fake accounts case, involving top leaders of Pakistan People's Party (PPP) leaders, the ruling Pakistan Tehreek-e-Insaf (PTI) has geared up efforts for a regime change in Sindh.
Published 31 Dec, 2018 12:00am
Fawad to visit Badin, Sukkur and Larkana

Fawad to visit Badin, Sukkur and Larkana

In the wake of damning Joint Investigation (JIT) report in fake accounts case, involving top leaders of Pakistan People's Party (PPP) leaders, the ruling Pakistan Tehreek-e-Insaf (PTI) has geared up efforts for a regime change in Sindh.
Published 31 Dec, 2018 12:00am
THE RUPEE: steady trend
Currency

THE RUPEE: steady trend

The rupee was firm against the dollar on the money market during the week, ended on Dec 29, 2018. The rupee was almost unchanged in terms of the dollar for buying and selling at Rs 138.70 and Rs 139.20. The rupee shed 25 paisas versus the euro for buying
Published 31 Dec, 2018 12:00am
THE RUPEE: steady trend
Currency

THE RUPEE: steady trend

The rupee was firm against the dollar on the money market during the week, ended on Dec 29, 2018. The rupee was almost unchanged in terms of the dollar for buying and selling at Rs 138.70 and Rs 139.20. The rupee shed 25 paisas versus the euro for buying
Published 31 Dec, 2018 12:00am
Equities remain under pressure
Mutual Funds

Equities remain under pressure

Pakistan Stock Exchange remained under pressure during the outgoing week ended on December 28, 2018 due to selling in various sectors. BRIndex100 lost 161.25 points on week-on-week basis to close at 3,851.48 points. Average daily trading volumes stood at
Published 31 Dec, 2018 12:00am
Equities remain under pressure
Mutual Funds

Equities remain under pressure

Pakistan Stock Exchange remained under pressure during the outgoing week ended on December 28, 2018 due to selling in various sectors. BRIndex100 lost 161.25 points on week-on-week basis to close at 3,851.48 points. Average daily trading volumes stood at
Published 31 Dec, 2018 12:00am
Equities remain under pressure
Mutual Funds

Equities remain under pressure

Pakistan Stock Exchange remained under pressure during the outgoing week ended on December 28, 2018 due to selling in various sectors. BRIndex100 lost 161.25 points on week-on-week basis to close at 3,851.48 points. Average daily trading volumes stood at
Published 31 Dec, 2018 12:00am
Prime Minister makes surprise visit to Polyclinic Hospital

Prime Minister makes surprise visit to Polyclinic Hospital

Prime Minister Imran Khan on Sunday made a surprise visit to Polyclinic Hospital of the federal capital and inquired about the facilities for the patients. He asked the hospital administration regarding the provision of medicines to the patients and other
Published 31 Dec, 2018 12:00am
Philippine cyclone leaves at least 22 dead

Philippine cyclone leaves at least 22 dead

At least 22 people have died due to landslides and flooding triggered by a tropical cyclone that brought heavy rains to central Philippines, a disaster agency official said on Sunday. The people, including a three-year-old boy, were reported dead as of Su
Published 31 Dec, 2018 12:00am
Philippine cyclone leaves at least 22 dead

Philippine cyclone leaves at least 22 dead

At least 22 people have died due to landslides and flooding triggered by a tropical cyclone that brought heavy rains to central Philippines, a disaster agency official said on Sunday. The people, including a three-year-old boy, were reported dead as of Su
Published 31 Dec, 2018 12:00am
The Weather

The Weather

The weather report on Sunday (December 30, 2018) and the forecast for Monday (December 31, 2018).

Published 31 Dec, 2018 12:00am
Your rupee last week
Currency

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (December 24 to 28, 2018).

Published 31 Dec, 2018 12:00am
2018 hottest year for a century in France

2018 hottest year for a century in France

2018 was the hottest year in France since modern records began in 1900, the French meteorological service said on Friday. "This year was the hottest France has known since modern meteorological measures came into use in 1900," Meteo-France said. The avera
Published 31 Dec, 2018 12:00am
Indonesia hikes danger level for deadly tsunami volcano

Indonesia hikes danger level for deadly tsunami volcano

Indonesia on Thursday raised the danger alert level for an erupting volcano that sparked a killer tsunami at the weekend, after previously warning that fresh activity at the crater threatened to trigger another deadly wave. Authorities also widened a no-g
Published 31 Dec, 2018 12:00am
Huawei expects 21 percent revenue rise despite 'unfair' treatment

Huawei expects 21 percent revenue rise despite 'unfair' treatment

Chinese telecoms giant Huawei expects to see a 21 percent rise in revenue for 2018, its chairman said despite a year of "unfair treatment" which saw its products banned in several countries over security concerns. Huawei would report sales revenue of $108
Published 31 Dec, 2018 12:00am
Britain voices 'grave' concerns over China's Huawei

Britain voices 'grave' concerns over China's Huawei

British Defence Secretary Gavin Williamson has warned of his "very deep concerns" about Chinese technology giant Huawei being involved in the use of 5G on Britain's mobile network, The Times reported Thursday. "I have grave, very deep concerns about Huawe
Published 31 Dec, 2018 12:00am
Goodbye Stalin: Moscow metro sheds Soviet look in bold new stations

Goodbye Stalin: Moscow metro sheds Soviet look in bold new stations

Moscow's metro system is famed for its Stalin-era stations with glittering chandeliers and mosaics, but architects are taking a radical new approach as the network undergoes a massive expansion. While the original stations were conceived as "palaces for t
Published 31 Dec, 2018 12:00am
Isolated Turkmenistan launches first messaging app

Isolated Turkmenistan launches first messaging app

The repressive central Asian nation of Turkmenistan, where the likes of Facebook and Whatsapp are banned, on Monday launched its first messaging app. The privately developed BizBarde app will "allow the exchange of messagers, files, photos and videos," th
Published 31 Dec, 2018 12:00am
UK retail sector axed 150,000 jobs in 2018

UK retail sector axed 150,000 jobs in 2018

Troubled UK high-street retailers shed almost 150,000 jobs this year, hit by high business property taxation, flagging growth and rising online sales, a study showed Monday. Some 148,132 jobs were axed as 20,000 shops and restaurants closed, according to
Published 31 Dec, 2018 12:00am
Wells Fargo to pay $575 million in settlement with US states
Currency

Wells Fargo to pay $575 million in settlement with US states

Wells Fargo & Co will pay $575 million to settle claims made by US states that the bank created phony accounts and committed other customer abuses, according to a statement by the Iowa attorney general's office. Two years ago, Wells Fargo agreed to pay $1
Published 31 Dec, 2018 12:00am
Spain extends Bankia stake sale period until end 2021

Spain extends Bankia stake sale period until end 2021

Spain's government said on Friday it had extended the sale period of its stake in Bankia until the end of 2021 from the original date of before the end of 2019. The Spanish state is gradually selling off its 61.4 percent stake in the lender after pumping
Published 31 Dec, 2018 12:00am
Starbucks' expansion runs out of steam in South Africa

Starbucks' expansion runs out of steam in South Africa

High operating costs and tight customer budgets have left US coffee giant Starbucks needing a caffeine hit after it abandoned ambitious expansion plans in South Africa - seen as a foothold for the continent. Starbucks looked set to take the country by sto
Published 31 Dec, 2018 12:00am
Hong Kong's NWS Holdings to buy FTLife Insurance for $2.75 billion

Hong Kong's NWS Holdings to buy FTLife Insurance for $2.75 billion

Hong Kong's NWS Holdings Ltd has agreed to acquire FTLife Insurance Co Ltd for HK$21.5 billion ($2.75 billion) from Beijing-based financial holding firm JD Group, aiming to diversify its business from infrastructure and services. NWS, the logistics and tr
Published 31 Dec, 2018 12:00am
Lab-grown diamond prices slide as De Beers fights back

Lab-grown diamond prices slide as De Beers fights back

Since De Beers abandoned its decades-old policy of refusing to sell lab-grown diamonds as jewellery, the price gap between man-made stones and natural gems has widened - and the difference is set to get even bigger. When De Beers shocked the industry with
Published 31 Dec, 2018 12:00am
Clean energy leader Costa Rica turns attention to electric cars

Clean energy leader Costa Rica turns attention to electric cars

Costa Rica likes to advertise itself as an ecological paradise, where more than 98 percent of its electricity needs are met by clean energy. But in the automotive industry, it is lagging behind with just 600 out of 1.4 million private vehicles running on
Published 31 Dec, 2018 12:00am
Volatile DR Congo votes after two-year delay

Volatile DR Congo votes after two-year delay

Presidential elections that will shape the future of one of Africa's biggest and most unstable countries were underway in the Democratic Republic of Congo on Sunday after a two-year delay. But observers reported worrying problems, from long queues to hitc
Published 31 Dec, 2018 12:00am
Italian MPs approve revised budget after EU standoff

Italian MPs approve revised budget after EU standoff

Italian lawmakers passed Saturday the populist government's revised 2019 budget before a year-end deadline, despite complaints from the opposition that it was dictated by Brussels and had been rammed through without debate. The coalition of the anti-estab
Published 31 Dec, 2018 12:00am
Deutsche Bank is strong, has no need for state aid, merger

Deutsche Bank is strong, has no need for state aid, merger

Deutsche Bank is strong and its turnaround strategy is bearing fruit, Chairman Paul Achleitner said, ruling out the need for state aid and playing down speculation that the lossmaking German bank should merge. In an interview with the Frankfurter Allgemei
Published 31 Dec, 2018 12:00am
Putin tells Trump that Moscow is open for dialogue

Putin tells Trump that Moscow is open for dialogue

Russian President Vladimir Putin told his US counterpart Donald Trump in a New Year letter on Sunday that Moscow was ready for dialogue on a "wide-ranging agenda", the Kremlin said following a series of failed attempts to hold a new summit.
Published 31 Dec, 2018 12:00am
French government scrutinising company executives' tax affairs

French government scrutinising company executives' tax affairs

The French government is cracking down on business chiefs of companies listed in France to make sure they are paying their taxes in France, Budget Minister Gerald Darmanin said in a newspaper interview on Sunday. President Emmanuel Macron had already sign
Published 31 Dec, 2018 12:00am
Italy's city of shame Matera becomes Europe's pride

Italy's city of shame Matera becomes Europe's pride

Fifty years after Italy's Matera was a national embarrassment because of its extreme poverty, the city is rescuing its dignity, baroque palaces and cave churches to become a European Capital of Culture. "Yes, it's true, we went from shame to glory," Mater
Published 31 Dec, 2018 12:00am
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