Last update: Fri, 12 Feb 2016 02pm

Business & Finance

ThyssenKrupp in red in first quarter

2016-02-12 08:44:09

FRANKFURT: German heavy industrial giant ThyssenKrupp said Friday that it fell into the red in the first quarter of its current business year weighed down by "a sharp deterioration in the climate for the materials businesses." ThyssenKrupp, which run


India central bank chief says lenders need 'deep surgery'

2016-02-12 08:44:29

MUMBAI: The head of India's central bank has said the country's lenders may need to perform "deep surgery" to sort out bad loans and clean up their balance sheets.Reserve Bank of India governor Raghuram Rajan, who famously predicted the 2008


JGBs slip on profit taking, yields pull away from record lows

2016-02-12 05:48:34

TOKYO: Japanese government bond prices slipped on Friday as profit taking emerged after a volatile week that saw debt yields sink to record lows. The benchmark 10-year JGB yield was up 6 basis points at 0.065 percent. The 10-year yield had dropped to



NY cop found guilty in 2014 fatal shooting of unarmed black man

2016-02-12 04:54:54

NEW YORK: A jury on Thursday found a rookie New York police officer guilty of manslaughter in the 2014 fatal shooting of an unarmed black man -- an incident that fueled US protests against police tactics.Peter Liang now faces up to 15 years in prison


Venezuela high court sides with Maduro on economic decree

2016-02-12 06:35:06

CARACAS: Venezuela's Supreme Court on Thursday declared that President Nicolas Maduro's request for special powers to tackle the country's deep economic crisis was legal, dismissing the opposition-controlled legislature's vote against


Pope Francis heads to Cuba, Mexico

2016-02-12 08:49:06

ROME: Pope Francis left Rome on Friday bound for Cuba, where he is to hold a historic meeting Russian Patriarch Kirill before continuing on to Mexico for a five-day visit.Francis, 79, took off from Rome's Fiumicino airport shortly before 8:00am l



Steps being taken to attract foreign investment: Jatoi

2016-02-11 19:21:34

ISLAMABAD: Minister for Industries and Production, Ghulam Murtaza Khan Jatoi here on Thursday said government was taking appropriate steps to attract foreign investment in country.Talking to Ambassador of Japan to Pakistan, Hiroshi Inomata who met wi


PIA announces reduction in fares

2016-02-10 14:58:19

ISLAMABAD: Pakistan International Airlines (PIA) has reduced its fares on domestic and major international flights, including Umra fares, with immediate effect.Decision to this effect has been taken to stabilize unrealistic hike in fares and to facil


Pak forex figure US $ 20.196bn

2016-02-11 14:39:58

KARACHI: Total liquid foreign exchange reserves of the country stand at US $ 20.196 billion, said State Bank of Pakistan (SBP). An SBP's weekly statement here on Thursday stated the foreign reserves held by State Bank on Feb 5 were US $ 15,341 mi



Mohsin terms PSL as Dubai Super League

2016-02-12 09:33:40

ISLAMABAD: Former Coach Mohsin Hasan Khan while terming PSL as Dubai Super League said the Pakistan Cricket Board (PCB) should be shifted to Dubai as it is doing anything for the promotion of the game in the country.Criticizing on the Pakistan Super


Rooney, Martial set sights on fragile Sunderland

2016-02-12 05:28:55

SUNDERLAND: Manchester United will face the worst defence in the Premier League on Saturday, which should have their strike-force of Wayne Rooney and Anthony Martial licking their lips in anticipation.Sunderland have conceded 49 goals so far this sea


Reavie grabs Pebble Beach first-round lead

2016-02-12 05:31:01

LOS ANGELES: American Chez Reavie fired an eight-under-par 63 on Thursday to upstage major champions Jordan Spieth and Jason Day in the first round of the PGA Tour Pebble Beach Pro-Am.Reavie fired an eagle and seven birdies with one bogey on the par-



8 Celebrities Who Converted to Islam

2016-02-11 09:00:00

A.R. RAHMAN (ALLAH-RAKHA RAHMAN): Known for his remarkable music compositions, the legendary Indian music producer/singer/songwriter was born, in a Hindu household, as Dileep Kumar. While his mother, inspired by Sufism, belonged to an Islamic family


Why ‘Neerja’ banned in Pakistan?

2016-02-11 09:57:42

Sonam Kapoor’s ‘Neerja’, has been banned in Pakistan, based on real incidents during the hijacking of the Pan Am Flight 73 at the Karachi airport in 1986.According to Indian Express report, Mobasher Hasan, who heads the Central Board of Film Ce


'Harry Potter and the Cursed Child' to hit shelves this summer

2016-02-11 09:58:13

Great news for all the Potter fans out there! A new Harry Potter book is in the line and will be available to fans at midnight on July 31, coinciding with Harry Potter's birthday.The book titled Harry Potter and the Cursed Child Parts I & II



Tokyo stocks dive 5pc as strong yen hammers exporters

2016-02-12 06:32:42

TOKYO: Tokyo stocks plunged again Friday with the benchmark Nikkei index losing nearly five percent as a strong yen hammered exporters, ending a tumultuous week on Japanese markets.The Nikkei dropped 4.84 percent, or 760.78 points, to close at 14,952


Sri Lankan rupee forwards weaker on importer dollar demand

2016-02-12 07:40:06

COLOMBO: Sri Lankan rupee forwards edged down on Friday on importer dollar demand and dealers said they expected the currency to weaken further in the months to come due to rising imports and slowing dollar inflows. One-week rupee forwards, which act


German bond yields sink as Fed seen cautious on rates

2016-02-11 13:52:42

LONDON: Europe's benchmark German bond yields tumbled to the lowest in over nine months on Thursday after US Federal Reserve Chair Janet Yellen flagged market turmoil and a slowdown in China which could limit further rate rises in the world's