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Print - 2019-05-23
Mayor for resolving businessmens's problems

Mayor for resolving businessmens's problems

Mayor Karachi Waseem Akhtar on Wednesday said that business community was in trouble therefore their problems should be resolved immediately. Karachi is hub of commercial activity but neglected and is suffering due to lot of problems. Karachi and Gwadar a
Published 23 May, 2019 12:00am
Sales tax rate may be raised from 17pc to 18pc in budget

Sales tax rate may be raised from 17pc to 18pc in budget

The Federal Board of Revenue (FBR) is considering increasing standard rate of Sales Tax from 17 to 18 percent, increase in rate of Federal Excise Duty (FED) on certain excisable commodities and imposition of FED on a few new items and withdrawal of income
Published 23 May, 2019 12:00am
Taxpayers: Chinese envoy hails FBR's measures

Taxpayers: Chinese envoy hails FBR's measures

Ambassador of China in Pakistan Yao Jing called on Chairman Federal Board of Revenue Syed Muhammad Shabbar Zaidi at FBR Headquarter. The Chinese Ambassador appreciated the steps taken by FBR to facilitate the taxpayers particularly the steps to redress th
Published 23 May, 2019 12:00am
Thar Foundation holds spelling competition

Thar Foundation holds spelling competition

Thar Foundation organised the first tri-lingual 'Spellathon' for the students of schools in Tharparkar managed by Thar Foundation. Seventy two school students among the ages of 4 to 14 from six campuses of Thar Foundation participated in competition to sh
Published 23 May, 2019 12:00am
Mufti Kaleem made Shari'ah Board chief for Pak-Qatar Takaful

Mufti Kaleem made Shari'ah Board chief for Pak-Qatar Takaful

Mufti Muhammad Hassaan Kaleem has been appointed new chairman of Shari'ah Advisory Board for Pak-Qatar Takaful group. Mufti Muhammad Hassaan Kaleem had already been serving as member of Shari'ah Pak-Qatar Takaful for more than a decade since the company's
Published 23 May, 2019 12:00am
Launching ceremony of MPV held at KS&EW

Launching ceremony of MPV held at KS&EW

Launching ceremony of 1500 tons state of the art Maritime Patrol Vessel (MPV) being built for Pakistan Maritime Security Agency (PMSA), was held at Karachi Shipyard and Engineering Works (KS&EW). Vice Chief of the Naval Staff, Vice Admiral Kaleem Shaukat
Published 23 May, 2019 12:00am
Hot & humid weather to persist in Karachi

Hot & humid weather to persist in Karachi

Karachi on Wednesday underwent a scorching weather with 36.8 degrees Celsius, as the Met Office has forecast hot and humid conditions for the city in the next 24 hours. It said that temperature may scale up to 38 degrees Celsius with 75 percent humidity o
Published 23 May, 2019 12:00am
Deputy mayor inspects Nishtar Park's roads

Deputy mayor inspects Nishtar Park's roads

Karachi Deputy Mayor Syed Arshad Hasan visited to inspect the road construction around Nishter Park with MNA Kishwer Zehra, DMC East chairman Moeed Anwer, works committee chairman Hasan Naqvi and other officers.
Published 23 May, 2019 12:00am
Murtaza slams arrest of Thar coal project's officials, investors

Murtaza slams arrest of Thar coal project's officials, investors

Adviser to Sindh Chief Minister for Information, Law and Anti-corruption Barrister Murtaza Wahab has said new era of conspiracy has been launched against Thar Coal Project as Khursheed Jamali chairman of a company associated with Thar Coal Project and two
Published 23 May, 2019 12:00am
Non-payment of Rs 34 million dues: KE severs power supply of KBA

Non-payment of Rs 34 million dues: KE severs power supply of KBA

The Karachi Bar Association's(KBA) outstanding power dues have ballooned to a massive Rs 34 million which have resulted in disconnection of power supply by K-Electric. Despite several notices by the power utility to the Karachi Bar Association, intimating
Published 23 May, 2019 12:00am
FCCI chief hails decision to enhance trade with Kyrgyzstan

FCCI chief hails decision to enhance trade with Kyrgyzstan

Decision to enhance bilateral trade relation between Pakistan and Kyrgyzstan to 10 million dollars is a positive sign to further enhance bilateral trade between the two countries, said Syed Zia Alumdar Hussain President Faisalabad Chamber of Commerce & In
Published 23 May, 2019 12:00am
WB Country Director meets FBR chief

WB Country Director meets FBR chief

The Country Director World Bank Pakistan Patchamuthu Illangovan (Illango) called on Chairman Federal Board of Revenue Syed Muhammad Shabbar Zaidi at FBR Headquarters.
Published 23 May, 2019 12:00am
LHC extends pre-arrest bail of Hamza till May 27

LHC extends pre-arrest bail of Hamza till May 27

The Lahore High Court on Wednesday extended pre-arrest bail of Leader of Opposition in Punjab Assembly Hamza Shahbaz till May 27 in multiple inquiries pending against him with the National Accountability Bureau (NAB). The court also reserved its decision
Published 23 May, 2019 12:00am
Next year budget to depict people's aspirations: CM

Next year budget to depict people's aspirations: CM

Punjab Chief Minister Sardar Usman Buzdar has said that next year budget will depict public aspirations and it will also show the concept of a new Pakistan. He expressed these views while presiding over a meeting held here on Wednesday to review the salie
Published 23 May, 2019 12:00am
'Ehsaas' programme created: Labour Expert Group to address labour issues

'Ehsaas' programme created: Labour Expert Group to address labour issues

Under the flagship 'Ehsaas' programme of the Prime Minister, headed by Chairperson Poverty Alleviation & Coordination Council PACC Dr Sania Nishtar Labour Expert Group has been created to address the loopholes in the existing laws, and bring the informal
Published 23 May, 2019 12:00am
Three shops sealed for selling adulterated milk in Kohat

Three shops sealed for selling adulterated milk in Kohat

The Khyber Pakhtunkhwa Food Safety (FSA) on Wednesday sealed three milk shops for selling water adulterated milk in Jungle Khel area of Kohat. Speaking to media persons, Deputy Director Operations FSA, Kamran Khan said milk samples of 22 shops were analys
Published 23 May, 2019 12:00am
Petroleum concession accord signed with Kuwaiti Company

Petroleum concession accord signed with Kuwaiti Company

The government of Pakistan on Wednesday executed Petroleum Concession Agreement (PCA) and Exploration Licence (EL) over Block 3371-19 (Makhad) to Kirthar Pakistan BV, subsidiary of Kuwait Foreign Petroleum Exploration Company (KUFPEC), on strategic partne
Published 23 May, 2019 12:00am
Q3 results: NBP's pre-tax profit up 15 percent YoY

Q3 results: NBP's pre-tax profit up 15 percent YoY

A meeting of the Board of Directors (BoD) of National Bank of Pakistan (Bank) was held on May 22 (Wednesday) at Bank's Head Office here in which the BoD approved the financial statements of the Bank for the quarter ended March 31, 2019.
Published 23 May, 2019 12:00am
'Ultra modern embroidery, printing machine installed at PSGMEA'

'Ultra modern embroidery, printing machine installed at PSGMEA'

Chairman Sports Goods Manufacturers and Exporters Association (PSGMEA) Ch. Muhammad Arshad has said that ultra modern "Embroidery and Printing" machine costing Rs 5.82 crore would be operational shortly. Talking to Business Recorder on Wednesday he
Published 23 May, 2019 12:00am
Shan supports 'boycott dollar' campaign
Exchange

Shan supports 'boycott dollar' campaign

Pakistani film star Shan has supported the 'boycott dollar' campaign initiated by Pakistanis to end the dollar crisis. Shan has urged the fellow countrymen to buy Pakistani products. He appealed to the masses to buy back Rupee and not deteriorate the situ
Published 23 May, 2019 12:00am
Steps under way to bring economic stability: Sarwar

Steps under way to bring economic stability: Sarwar

Punjab Governor Ch Muhammad Sarwar has said the government is taking crucial and reformative steps to bring economic stability coupled with economic certainty. "The efforts of PM Imran Khan and his team will succeed soon," he said while talking to Group L
Published 23 May, 2019 12:00am
EPD decides to increase polythene bags' thickness

EPD decides to increase polythene bags' thickness

The Environment Protection Department Punjab has decided to increase the thickness of polythene bags from 15 micron to 50 micron in order to discourage the use of light weighted polythene bags.
Published 23 May, 2019 12:00am
Cut in FED cost kitty Rs 85 billion in two years: SPDC

Cut in FED cost kitty Rs 85 billion in two years: SPDC

The third-tier tax structure resulted in reduction of average Federal Excise Duty (FED) of around 12 percent that caused loss of around Rs 85 billion to the national exchequer in last two financial years, a study revealed Wednesday.
Published 23 May, 2019 12:00am
Seminar on role of NAB held at HCBF

Seminar on role of NAB held at HCBF

Punjab University Hailey College of Banking & Finance's Character Building Society in collaboration with National Accountability Bureau (NAB) has organized seminar to create awareness amongst the students against corruption and the role of NAB in encounte
Published 23 May, 2019 12:00am
WB-funded Rs 3.73 billion Punjab Green Development Programme launched

WB-funded Rs 3.73 billion Punjab Green Development Programme launched

The energy department of the government of Punjab has decided to launch World Bank-funded Rs 3.73 billion Punjab Green Development Programme in the province. Under the programme, the poor tube lights and fans with high consumption of electricity would be
Published 23 May, 2019 12:00am
Gadoon Textiles Mills Limited
Mutual Funds

Gadoon Textiles Mills Limited

Gadoon Textiles Mills Limited (PSX: GADT) is part of the renowned Yunus Brothers Group (YBG) and is one of the largest spinning units of Pakistan. The group is one of the largest conglomerates in Pakistan with its presence spanning across textiles, buildi
Published 23 May, 2019 12:00am
Gadoon Textiles Mills Limited
Exchange

Gadoon Textiles Mills Limited

Gadoon Textiles Mills Limited (PSX: GADT) is part of the renowned Yunus Brothers Group (YBG) and is one of the largest spinning units of Pakistan. The group is one of the largest conglomerates in Pakistan with its presence spanning across textiles, buildi
Updated 24 May, 2019 10:08am
Miftah accuses PTI government of mishandling economy

Miftah accuses PTI government of mishandling economy

The Pakistan Tehreek-e-Insaf-led government has grossly mishandled the economy during the last nine months of its tenure and the current fiscal year is expected to close with 7.5 percent deficit. This was stated by former Finance Minister Miftah Ismail wh
Published 23 May, 2019 12:00am
Major currencies to be uploaded into WeBOC
Exchange

Major currencies to be uploaded into WeBOC

The FBR has decided to electronically link customs automated system WeBOC with the Treasury and Capital Markets Group of the National Bank of Pakistan so that the daily exchange rate of major currencies are uploaded into WeBOC directly as soon as the same
Published 23 May, 2019 12:00am
Urdu version of 'Assets Declaration Ordinance' launched

Urdu version of 'Assets Declaration Ordinance' launched

The Federal Board of Revenue (FBR) has issued Urdu version of the Assets Declaration Ordinance 2019 to facilitate taxpayers. The Urdu version of the Ordinance has been placed on the FBR's official website for convenience of the general public here on Wedn
Published 23 May, 2019 12:00am
May stares at defeat in final Brexit gambit

May stares at defeat in final Brexit gambit

British Prime Minister Theresa May stared at the prospect Wednesday of her political career coming to an inglorious end after her final attempt to save her hated Brexit deal was almost universally condemned by parliament. The beleaguered premier is in the
Published 23 May, 2019 12:00am
Omani writer wins Man Booker literature prize

Omani writer wins Man Booker literature prize

Jokha Alharthi on Tuesday became the first Arabic author to win the Man Booker International prize for her novel "Celestial Bodies" which reveals her Omani homeland's post-colonial transformation. "I am thrilled that a window has been opened to the rich A
Published 23 May, 2019 12:00am
EU court rejects historic citizen's climate case

EU court rejects historic citizen's climate case

The European Court of Justice has thrown out a landmark case brought by 10 families who sued the European Union over the threats climate change poses to their homes and livelihoods, lawyers said Wednesday.
Published 23 May, 2019 12:00am
Renowned Kenyan writer dies

Renowned Kenyan writer dies

Internationally-renowned Kenyan writer Binyavanga Wainaina, whose high-profile coming out in a country that criminalises homosexuality made him a revered figure for gay rights in Africa, has died aged 48, his publishing house said Wednesday. The celebrate
Published 23 May, 2019 12:00am
US author Siri Hustvedt wins top Spanish award

US author Siri Hustvedt wins top Spanish award

US writer Siri Hustvedt on Wednesday was awarded Spain's prestigious Princess of Asturias prize for literature for her work which the jury said was among "the most ambitious on today's literary scene". "Employing a feminist perspective, she addresses a va
Published 23 May, 2019 12:00am
Facebook shuts dozens of fake-news pages ahead of EU vote: NGO

Facebook shuts dozens of fake-news pages ahead of EU vote: NGO

Facebook has taken down nearly 80 pages spreading fake news or using tactics that appeared aimed at unfairly influencing the European Parliament vote this weekend, an NGO reported Wednesday. The US-based Avaaz online activist group said it had alerted Fac
Published 23 May, 2019 12:00am
Armed group kills 26 in Central African Republic: UN

Armed group kills 26 in Central African Republic: UN

More than 26 people were killed and many more wounded when an armed group attacked two villages in northwestern Central African Republic on Tuesday, the UN's peacekeeping mission (MINUSCA) said.
Published 23 May, 2019 12:00am
India claims new first for world's fastest cruise missile

India claims new first for world's fastest cruise missile

India said the world's fastest cruise missile passed another key test Wednesday when it successfully hit a land target after being fired from a fighter jet. India is developing the supersonic BrahMos missile - which has a top speed of 3,450 kilometres (2,
Published 23 May, 2019 12:00am
US calls for dismantling UN Palestinian refugee agency

US calls for dismantling UN Palestinian refugee agency

The United States called Wednesday for dismantling the United Nations Palestinian refugee agency UNRWA, weeks before unveiling the economic aspects of its long-awaited Middle East peace plan. Addressing the UN Security Council, US adviser Jason Greenblatt
Published 23 May, 2019 12:00am
Six dead after election riots in Jakarta

Six dead after election riots in Jakarta

At least six people were killed as Indonesia's capital erupted in violence when police clashed with protesters opposed to the re-election of President Joko Widodo. Police sirens blared as fresh skirmishes broke out Wednesday evening with thousands of prot
Published 23 May, 2019 12:00am
US official acknowledges consumers will pay some tariff costs
Currency

US official acknowledges consumers will pay some tariff costs

US Treasury Secretary Steven Mnuchin on Wednesday acknowledged that consumers may pay higher prices as a result of the steep tariffs imposed on Chinese goods. Mnuchin's remarks were at odds with the message hammered by President Donald Trump, who claims C
Published 23 May, 2019 12:00am
CBOT corn hits one year peak

CBOT corn hits one year peak

Chicago Board of Trade (CBOT) corn futures rose for a seventh straight session and hit the highest point in a year on Tuesday on worries about reduced US yields and fewer planted acres due to rainy weather in the Midwest. Short-covering and technical buyi
Published 23 May, 2019 12:00am
Ethiopia buys 600,000 tonnes of wheat

Ethiopia buys 600,000 tonnes of wheat

An Ethiopian state purchasing agency has bought about 600,000 tonnes of wheat to be sourced from optional origins in an international tender which closed on April 30, European traders said on Tuesday. Some 500,000 tonnes was purchased from the company Gem
Published 23 May, 2019 12:00am
Activities at Karachi and Qasim Ports

Activities at Karachi and Qasim Ports

The Karachi Port handled 165,176 tonnes of cargo comprising 105,650 tonnes of import cargo and 59,526 tonnes of export cargo including 9,284 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday. The total import cargos of
Published 23 May, 2019 12:00am
China's steel futures rise to highest since 2011

China's steel futures rise to highest since 2011

China's steel futures rose nearly 4% on Tuesday despite concerns over the escalating trade dispute with the United States, as investors expect stronger steel demand from the property market. "Downstream steel demand (manufacturing and construction) remain
Published 23 May, 2019 12:00am
Ivory Coast dry spell worries cocoa farmers

Ivory Coast dry spell worries cocoa farmers

Below average rainfall last week in most of Ivory Coast's cocoa growing regions, has raised concerns for the April-to-September mid-crop, farmers said on Monday. The rainy season in the world's top cocoa producer has been slow to start, and farmers fear t
Published 23 May, 2019 12:00am
European wheat futures little changed
Exchange

European wheat futures little changed

European wheat futures in Paris were little changed in late trade on Tuesday as good crop prospects in the European Union weighed, erasing earlier gains. Front month September milling wheat on the Paris-based Euronext exchange was up 0.25 euro or 0.1% at
Published 23 May, 2019 12:00am
Asia's naphtha crack sinks to four-month low

Asia's naphtha crack sinks to four-month low

Asia's naphtha crack slumped by 20% to $27.60 a tonne on Tuesday, hitting its lowest since Jan. 24, on abundant supply. Spot demand was mostly absent, though South Korea's YNCC and Lotte Chemical had separately bought naphtha last week for a 12-month cont
Published 23 May, 2019 12:00am
PMEX daily trading report
Exchange

PMEX daily trading report

On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,921. The traded value of Metals, Energy and COTS/FX was recorded at PKR 7.446 billion and the number of lots traded 9,121.
Published 23 May, 2019 12:00am
Sterling holds near four-month low as May's exit eyed
Currency

Sterling holds near four-month low as May's exit eyed

Sterling fell on Wednesday and was on track for its longest ever losing streak against the euro though it recouped some of its earlier falls in reaction to a Sky News report that Prime Minister Theresa May was about to resign. The currency had earlier plu
Published 23 May, 2019 12:00am
Asian forex: Thai baht at weakest in over two weeks
Currency

Asian forex: Thai baht at weakest in over two weeks

The Thai baht lost 0.3 percent against the dollar, falling to its weakest level in more than two weeks, as sentiment toward Asia's export driven emerging economies weakened after the latest salvoes in the Sino-US trade war. The New York Times reported on
Published 23 May, 2019 12:00am
Aussie shackled

Aussie shackled

The Australian dollar huddled near five-month lows on Wednesday as investors piled into wagers for two cuts in interest rates this year, and even the chance of a third in 2020.
Published 23 May, 2019 12:00am
Dollar surges against euro, yen in NY
Exchange

Dollar surges against euro, yen in NY

The US dollar was higher against the euro and the yen on Tuesday in a day of risk-on trades after US President Donald Trump temporarily eased curbs on China's Huawei Technologies Co Ltd.
Published 23 May, 2019 12:00am
Early trade in New York: Dollar holds near one-month high
Exchange

Early trade in New York: Dollar holds near one-month high

The US dollar held near a one-month high on Wednesday amid heightened trade tensions between the United States and China and ahead of the release of Federal Reserve meeting minutes which may provide more clues on why the central bank stood pat on interest
Published 23 May, 2019 12:00am
Yen, franc up in Europe as trade tensions fester
Exchange

Yen, franc up in Europe as trade tensions fester

The Japanese yen and the Swiss franc firmed on Wednesday as risk appetite remained weak in the backdrop of festering trade tensions between the United States and China. While risky assets heaved a sigh of relief overnight after the United States eased tra
Published 23 May, 2019 12:00am
Dollar steadies in Asian trade
Exchange

Dollar steadies in Asian trade

The dollar largely kept to familiar trading ranges on Wednesday, as it found support near a 3-1/2-week high on higher US yields after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies. The move ca
Published 23 May, 2019 12:00am
Yousaf off to flying start in Peshawar Floodlight Tennis

Yousaf off to flying start in Peshawar Floodlight Tennis

Top seed and Pakistan No. 5 young Yousaf got a flying start after defeating his strong and rival Rashid Khan in the opening match of the first Nazim Peshawar Floodlight Open Tennis Championship, which got under way here at Synthetic Tennis Courts of the Q
Published 23 May, 2019 12:00am
Pakistan's players upbeat to do well in World Cup

Pakistan's players upbeat to do well in World Cup

Players of the Pakistan cricket team have expressed determination for showing good performance in the ICC Cricket World Cup 2019 which is set to begin from May 31, according to a message received here on Wednesday.
Published 23 May, 2019 12:00am
Ghana captain Gyan backtracks on retirement ahead of African Cup

Ghana captain Gyan backtracks on retirement ahead of African Cup

Ghana national team captain Asamoah Gyan on Wednesday reversed his decision to retire from international football, just weeks before the Africa Cup of Nations. The striker said Monday he was quitting the national team after he was angered by coach Kwasi A
Published 23 May, 2019 12:00am
South Africa confront World Cup demons

South Africa confront World Cup demons

For South Africans, there is no escape from the reality of the country's bitter history of painful failure in World Cup knockout games. "People will highlight the baggage - it's like a big mirror that is always in front of you," said South African captain
Published 23 May, 2019 12:00am
Messi and Aguero in Argentina Copa America squad

Messi and Aguero in Argentina Copa America squad

Barcelona superstar Lionel Messi and the returning Sergio Aguero headed the 23-man Copa America squad announced by Argentina coach Lionel Scaloni on Tuesday. Paris Saint Germain winger Angel Di Maria was also included but there was no place for striker Go
Published 23 May, 2019 12:00am
Gender diversity good for businesses, economies: UN

Gender diversity good for businesses, economies: UN

Companies that improve gender diversity - especially at the top - perform better and rake in higher profits, while countries that increase women employment see better economic growth, the UN said Wednesday.
Published 23 May, 2019 12:00am
World nations failing the poorest on energy goals

World nations failing the poorest on energy goals

More than 150 million people are gaining access to electricity every year, reducing the ranks of those who live without power, but this is not enough to meet global development goals, according to a report released Wednesday.
Published 23 May, 2019 12:00am
Germany orders new anti-money-laundering steps at online bank N26

Germany orders new anti-money-laundering steps at online bank N26

German financial markets watchdog Bafin said Wednesday it had ordered online bank N26 to tackle gaps in its measures against financial crime, including in its systems for verifying clients' identities. Bafin told AFP last October it was concerned by a rep
Published 23 May, 2019 12:00am
Japan's trade surplus plummets

Japan's trade surplus plummets

Japan's trade surplus dropped by around 90 percent in April, official data showed Wednesday, with exports affected by a slowdown in China's economy as it wages a trade war with Washington.
Published 23 May, 2019 12:00am
Chinese ambassador blames US for sinking trade deal

Chinese ambassador blames US for sinking trade deal

China's ambassador to the United States said in a Tuesday interview with Fox News that Washington repeatedly "changed its mind overnight" and sunk deals that could have ended the two countries' trade war. Ambassador Cui Tiankai also slammed as "politicall
Published 23 May, 2019 12:00am
Bulgaria and Greece break ground on long-delayed gas pipeline

Bulgaria and Greece break ground on long-delayed gas pipeline

Bulgaria and Greece on Wednesday launched construction of a long-delayed pipeline to link their gas networks, considered key for weaning Sofia off its heavy energy dependence on Russia. "This interconnector will lead to real diversification of gas deliver
Published 23 May, 2019 12:00am
Japanese, UK carriers delay release of Huawei phones

Japanese, UK carriers delay release of Huawei phones

Four major Japanese and British mobile carriers said Wednesday they will delay releasing new 5G handsets made by Huawei amid a US-led crackdown on the Chinese tech firm over security concerns. Meanwhile, the British firm ARM, which designs processors used
Published 23 May, 2019 12:00am
UK inflation climbs on rising energy costs

UK inflation climbs on rising energy costs

British annual inflation climbed to 2.1 percent in April, in part owing to higher energy prices, official data showed on Wednesday. "The Consumer Prices Index (CPI) 12-month rate was... up from 1.9 percent in March," the Office for National Statistics (ON
Published 23 May, 2019 12:00am
MTN pays off bulk of $1.5 billion Nigeria fine

MTN pays off bulk of $1.5 billion Nigeria fine

South African telecoms giant MTN has paid more than three-quarters of a record $1.5 billion dollar fine levelled by Nigeria for failing to disconnect unregistered subscribers, the government said late Tuesday. Africa's biggest wireless operator was initia
Published 23 May, 2019 12:00am
Senegal payments service Wari now on WhatsApp

Senegal payments service Wari now on WhatsApp

Users of the messaging platform WhatsApp will now have access to the services of Wari, the Senegalese payments firm said Wednesday. "The availability of Wari's financial services on WhatsApp will allow millions of consumers to easily initiate financial tr
Published 23 May, 2019 12:00am
BHP says coal outlook 'challenged'

BHP says coal outlook 'challenged'

BHP, the world's biggest miner, said Wednesday the outlook for coal was "challenged" and there was "no appetite for growth" as it sought to capitalise on opportunities in electric transport and renewables.
Published 23 May, 2019 12:00am
Brexit worries hit domestic stocks but sterling slide lifts FTSE

Brexit worries hit domestic stocks but sterling slide lifts FTSE

Brexit sensitive housebuilders and airlines slid on Wednesday as rumours circulated that ministers could oust Theresa May after her latest EU exit plan failed to win support, while exporters lifted the FTSE 100 as the pound weakened.
Published 23 May, 2019 12:00am
China stocks down

China stocks down

China's major stock indexes fell on Wednesday, as trade worries intensified following a report that the United States could blacklist another Chinese tech firm after banning Huawei Technologies last week.
Published 23 May, 2019 12:00am
Indian shares up

Indian shares up

Indian shares ended higher on Wednesday, helped by a gain in financials, as investor sentiment remained buoyant a day before the counting of votes in the general election which began on April 11. The benchmark BSE index closed up 0.36% at 39,110.21. The b
Published 23 May, 2019 12:00am
Australian, New Zealand shares move higher

Australian, New Zealand shares move higher

Australian shares eked out slight gains on Wednesday, as the country's post-election optimism was dampened by worries over the risk of a protracted US-China trade war. The S&P/ASX 200 index recovered from earlier losses to tick up 10.6 points or 0.2% to 6
Published 23 May, 2019 12:00am
Treasury yields climb

Treasury yields climb

US Treasury yields edged higher on Tuesday, lifted by gains on Wall Street and higher overall risk appetite after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies. The move helped calm fears of e
Published 23 May, 2019 12:00am
Treasury yields climb

Treasury yields climb

US Treasury yields edged higher on Tuesday, lifted by gains on Wall Street and higher overall risk appetite after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies. The move helped calm fears of e
Published 23 May, 2019 12:00am
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