02142016Sun
Last update: Sun, 14 Feb 2016 10am

Top News

Top News - Front Top News

Yen surge sparks central bank intervention talk TOKYO: Japanese government officials on Friday pledged to take "appropriate measures" as the surging yen fuels speculation that the central bank will intervene in currency markets to arrest its ascent.The unit has soared to levels last seen when the Bank of Japan unleashed a second wave of stimulus in late 2014, as part of Tokyo's attempts to stimulate the laggard economy.But plunging equity markets fuelled by fears about the world economy have sent the yen skyward as traders buy investments seen as a safe bet -- pushing the unit towards its biggest two-week advance since the 1998 Asian financial crisis, according to Bloomberg News.On Friday, Japanese officials declined to say if the BoJ had intervened in currency markets for the first time since 2011.But "there have been some rough price movements so we are watching the market closely and will take appropriate measures if necessary", finance minister Taro Aso said.Government ...

Top News - Pakistan Top News

US oil tumbles close to 12-year lows amid brimming stockpiles NEW YORK: US oil prices fell for a six straight day on Thursday, approaching 12-year lows hit last month, weighed by brimming crude inventories and a Goldman Sachs forecast that prices would remain low and volatile until the second half of the year.Market intelligence firm Genscape reported the Cushing, Oklahoma delivery hub for U.S, crude futures saw a build of almost 425,000 barrels in the week to Feb. 9.Crude inventories in Cushing hit all-time highs ...

Top News - Front Top News

IMF chief Lagarde goes unchallenged in bid for second term WASHINGTON: Christine Lagarde was virtually assured a second term leading the International Monetary Fund on Thursday when nominations for the job closed with no challengers.The IMF said Lagarde, the first woman to lead the IMF, was the only person nominated for the position. It added that the board will now hold meetings with Lagarde and aims "to complete the selection process, as soon as possible."The U.S. Treasury Department supported her re-appointment, adding to earlier endorsements ...

Top News - Front Top News

Pakistan operation pushing militants into Afghanistan, terrorists know no boundaries: US  WASHINGTON: A top US military official in Afghanistan said on Thursday that a military operation in Pakistan has pushed Taliban militants into Afghanistan and described terrorists' sanctuaries along the border as a regional problem. Brig Gen Wilson A. Shoffner, Resolute Support Mission spokesman, while addressing a press briefing via video-conference said that over the past couple of years, Pakistan is putting "increasing pressure on Taliban, both on Pakistani as well as Afghan Taliban operating there." ...

Top News - Pakistan Top News

Russia PM warns foreign offensive in Syria could spark 'world war' MUNICH: Russian Prime Minister Dmitry Medvedev warned Thursday that if Arab forces entered the Syrian war they could spark a "new world war" and urged ceasefire talks instead.Asked about proposals by some Arab countries to enter the conflict under a US command, Medvedev said, "that would be bad because ground offensives usually lead to wars becoming permanent"."The Americans and our Arabic partners must think hard about this: do they want a permanent war?" he was ...