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Last update: Thu, 05 May 2016 01pm

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Germany, Japan call for stable FX rates ahead of G7 meeting MESEBERG: Japanese Prime Minister Shinzo Abe and German Chancellor Angela Merkel said on Wednesday they wanted to avoid turbulence on foreign exchange markets and Abe said Tokyo would act if necessary.The yen surged to an 18-month high against the dollar after the Bank of Japan held off expanding monetary stimulus last week, defying market expectations for action even as soft global demand, an unwelcome rise in the yen and weak consumption threatened to derail a fragile economic recovery."We are observing the currency market and if necessary we will then have to act," said Abe, who was in Germany to prepare with Merkel for an end-May meeting of the Group of Seven (G7) economic powers."I note that we are seeing very speculative, fast movements (on the currency markets)," he told reporters, adding that the Group of 20 leading world economies had already agreed that targeted political measures to influence currency rates ...

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Opposition's ToRs showing negative intentions: Nisar ISLAMABAD: Minister for Interior, Chaudhry Nisar Ali Khan on Wednesday said Term of References (ToRs) of opposition parties on probe into Panama papers were showing their negative intentions and it seemed their focus was only the Prime Minister."One person is being targeted. The opposition did not want to solve this matter and want to continue it only in the media and probe into Panama Papers revelations is being politicized, Ch. Nisar flanked by Law Minister, ...

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CPEC project to be game-changer for KP, Balochistan: Sanaulla Zehri ISLAMABAD: Chief Minister Balochistan, Nawab Sanaullah Zehri on Wednesday said that China-Pakistan Economic Corridor (CPEC) would be proved as a game-changer for Khyber Pakhtunkhwa and Balochistan provinces.He said under the CPEC project six economic zones would be established in Balochistan and work on Southern Rout of the country was successfully continued.He was speaking in a meeting of Special Committee on CPEC here which was held here under the chairmanship of Senator Mushahid Hussain Syed.The Balochistan ...

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CPEC enjoys across-the-board support in Pakistan: Dar ISLAMABAD: Minister for Finance, Senator Muhammad Ishaq Dar on Wednesday said that the China Pakistan Economic Corridor (CPEC) enjoyed across-the-board political and institutional support in Pakistan.The minister was talking to a Chinese delegation on the sidelines of the Asian Development Bank (ADB)'s Annual Board of Governors Meeting in Frankfurt, Germany.According to a message received here, the Finance Minister appreciated leadership and hard work of the Chinese Finance Minister and his team for establishment of Asian ...

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Opposition's ToRs show malafide intentions: Zahid Hamid ISLAMABAD: Minister for Law and Justice Zahid Hamid Wednesday said opposition's Terms of Reference (ToRs) on Panama Papers showed its malafide intention of only targeting the Prime Minister.Addressing a press conference alongwith Interior Minister Chaudhry Nisar Ali Khan and Prime Minister's Special Assistant on Law Barrister Zafarullah Khan, he said the government was expecting positive suggestions from opposition on government's ToRs to probe Panama Papers."But unfortunately the opposition was not serious in presenting facts before ...