Last update: Thu, 11 Feb 2016 05pm

Business & Finance

Toyota to spend to 350mn euro to start producing hybrid engines in Turkey

2016-02-11 12:36:41

ISTANBUL: Toyota Motor Corp will begin production in Turkey by year-end of a new hybrid engine model with an investment of more than 350 million euros ($396 million), Toyota's chief executive of Europe, Johan van Zyl, said on Thursday. He told a


Serbian central bank cuts rates despite dinar losses

2016-02-11 12:33:38

BELGRADE: Serbia's central bank unexpectedly cut its benchmark interest rate for the first time in four months on Thursday, setting aside concerns over a weakening dinar to tackle doggedly low inflation. The 25 basis point cut to 4.25 percent was


Bond prices rise as stocks fall on global growth worries

2016-02-09 20:28:27

NEW YORK: US Treasuries prices rose on Tuesday as investors concerned about slowing global growth continued to shun stocks, adding interest in safe-haven U.S. government debt.Yields on U.S. Treasuries fell on investor caution about the likelihood of



Los Angeles passes $1.87 bn homeless plan

2016-02-10 08:37:23

LOS ANGELES: Los Angeles, sometimes called the homeless capital of America, adopted a $1.87 billion plan Tuesday to help its 44,000 down-and-out people without homes.The 10-year plan adopted by the city council, with the ambitious goal of ending LA&#


First Zika-linked deaths reported in Colombia

2016-02-06 08:45:28

BOGOTA: The mosquito-borne Zika virus sweeping through Latin America has claimed three lives in Colombia, as the United Nations urged increased access to abortion because of fears of severe birth defects.In the first direct statements from government


EU regulators to investigate Spanish aid for postal operator

2016-02-11 12:52:45

BRUSSELS: European Union regulators will investigate whether a series of Spanish measures granted to Correos since 2004 have given the state-owned postal operator an unfair advantage, following two complaints. The European Commission said the probe w



Services trade deficit dips 31.79pc in Jul-Dec

2016-02-11 12:06:06

ISLAMABAD: The services trade deficit during first six months (July-December) decreased by 31.79 percent as compared to the same period of last year.The services exports witnessed a decrease of 5.38 percent while the import fell by 14.30 percent duri


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


Workers' remittances rise by 6pc to $11.2bn in 7 months

2016-02-10 20:06:47

KARACHI: Overseas Pakistani workers remitted $ 11.2 billion in first seven months (July to January) of 2015-16; showing a growth of 6 percent compared to $ 10.566 billion received during the same period in the preceding year.During January 2016, the



Khurram ready for the big test!

2016-02-11 12:50:25

Opening batsman Khurram Manzoor named in the Pakistan squad for the next month’s ICC World Twenty20 in India, being amazed of surprise inclusion for mega event.Khurram Manzoor, who last represented Pakistan in a Test match in 2014, has returned to


Reus goals crucial as Dortmund hunt leaders Bayern

2016-02-11 12:18:11

BERLIN: Attacking midfielder Marco Reus's return to form after injury and illness has given Borussia Dortmund a boost in their campaign to chase down Bundesliga leaders Bayern Munich as they prepare to host struggling Hanover 96 on Saturday.The 2


Top seed Nishikori, qualifier Nishioka advance

2016-02-11 11:06:53

LOS ANGELES: Three-time defending champion Kei Nishikori and Japanese compatriot Yoshihito Nishioka, a 130th-ranked qualifier, advanced to the quarter-finals of the ATP Memphis Open on Wednesday with straight-sets triumphs.Top seed Nishikori defeated



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



European stock markets sink at open

2016-02-11 10:47:27

LONDON: European stocks dived in opening deals on Thursday, resuming heavy falls after Federal Reserve boss Janet Yellen warned over financial market turbulence and the health of the global economy.In initial trade, London's FTSE 100 benchmark in


Dollar sinks in Asia as Fed boss dampens chance of rate hike

2016-02-11 11:03:39

SINGAPORE: The dollar retreated across the board in Asia Thursday after comments from Federal Reserve boss Janet Yellen on the weak global economy suggested the central bank will not hike interest rates any time soon.The greenback also sank to late 2


Romania sells 500mn lei of Dec. 2022 T-Bonds

2016-02-11 12:18:30

BUCHAREST: Romania sold a planned 500 million lei ($126.28 million) of Dec. 2022 treasury bonds on Thursday, with the average accepted yield at 2.89 percent, central bank data showed.Debt managers last issued the paper in January, at an average yield