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Archive - 2018-03-01
Canyon meets Colorado River
Featured Photos

Canyon meets Colorado River

The Colorado River runs through the west rim of the Grand Canyon in Arizona, US. Copyright Reuters, 2018
Published 01 Mar, 2018 11:03pm
Polishing Minar-e-Pakistan
Featured Photos

Polishing Minar-e-Pakistan

A man polishes a sculpture of Minar-e-Pakistan or Pakistan tower made of brass and copper at a workshop in Islamabad
Published 01 Mar, 2018 09:03pm
Frozen Jazz Band
Featured Photos

Frozen Jazz Band

The sculpture "Le Bandundu Water Jazz Band" by Belgian artist Tom Frantzen is seen covered with ice in Tervuren, nea
Published 01 Mar, 2018 07:03pm
Evergreen Lala turns 38
Cricket

Evergreen Lala turns 38

Pakistan’s superstar all-rounder turned 38 years old today (Thursday). Hailed as one of the most entertaining crick
Published 01 Mar, 2018 01:10pm
European stock markets slump
Financial

European stock markets slump

LONDON: European stock markets slid on Thursday and Asian counterparts kicked off March with broad losses to extend a gl
Published 01 Mar, 2018 12:54pm
SBP mops up Rs249.5bn from market  
Top News

SBP mops up Rs249.5bn from market  

KARACHI: State Bank of Pakistan on Thursday mopped up Rupees 249.5 billion from the money market for one day through Ope
Published 01 Mar, 2018 12:39pm
NCL’s gloomy 1HFY18
Textile

NCL’s gloomy 1HFY18

Nishat Chunian Limited, one of the country’s prominent textile composites, recently announced its 1HFY18 financial resul
Published 01 Mar, 2018 06:54am
SNGPL differential rises
Oil and Gas

SNGPL differential rises

Pakistan’s largest state-owned gas company SNGPL sold more gas and earned more profits in the 1HFY18 over the same perio
Published 01 Mar, 2018 06:55am
PPL upbeat on oil and Sui
Oil and Gas

PPL upbeat on oil and Sui

Pakistan Petroleum Limited (PSX: PPL) is among the optimistic ones; amid the looming uncertainty that the E&P sector
Published 01 Mar, 2018 06:56am
AJK government, Power Div to hold expert-level moot next week

AJK government, Power Div to hold expert-level moot next week

The Government of Azad Jammu and Kashmir (AJK) and Power Division have agreed to convene expert level meeting on Monday (March 5, 2018) in order to address electricity related matters of AJK. The AJK side will be led by Secretary Energy while the Power Di
Published 01 Mar, 2018 12:00am
Government accords priority to basic amenities: Jhagra

Government accords priority to basic amenities: Jhagra

KP Governor Iqbal Zafar Jhagra has said that the provision of clean drinking water and healthcare facilities, quality education and development of sports infrastructure for the tribesmen are top priorities of the government. He was talking to delegation o
Published 01 Mar, 2018 12:00am
SECP tells cos to appoint legal adviser on retainership
Exchange

SECP tells cos to appoint legal adviser on retainership

The Securities and Exchange Commission of Pakistan (SECP) has directed companies to appoint at least one legal adviser on retainership to advice such company regarding performance of its functions and the discharge of its duties in accordance with the law
Published 01 Mar, 2018 12:00am
CPEC commercial tower to be built in Peshawar: Nazim

CPEC commercial tower to be built in Peshawar: Nazim

District Nazim, Mohammad Asim Khan, said that a CPEC Commercial Tower will be constructed at Peshawar general bus stand. He added a sum of Rs 10 billion has been estimated for this mega development project. He was addressing at Meet the Press Programme or
Published 01 Mar, 2018 12:00am
Pakistan to organise single country exhibition in UAE

Pakistan to organise single country exhibition in UAE

Single country exhibition to showcase Pakistani products to be held in UAE in September this year. A delegation of Pakistani residents based in UAE and investors would also visit Pakistan under auspices of Pakistan Overseas Foundation (POF) so that trade
Published 01 Mar, 2018 12:00am
Ambulift incident Gerry's Dnata team arrives to conduct probe

Ambulift incident Gerry's Dnata team arrives to conduct probe

A safety board team of Gerry's Dnata Wednesday arrived to probe into an ambulift incident that left four passengers and a ground staff injured and damaged Emirates Boeing 777-300 aircraft at Islamabad airport Tuesday morning. The flight EK-615 (Islamabad-
Published 01 Mar, 2018 12:00am
Nestlé Pakistan wins first prize for UNGC Award 2017

Nestlé Pakistan wins first prize for UNGC Award 2017

For second time in a row, Nestlé Pakistan was awarded with First Prize for "Living the UN Global Compact Business Sustainability Award 2017", in a multi-national category. In 2016, Nestlé Pakistan was awarded with the first prize as well in the category "
Published 01 Mar, 2018 12:00am
Lasbela Chamber slams hike in petroleum prices

Lasbela Chamber slams hike in petroleum prices

President Lasbela Chamber of Commerce and Industry (LCCI), Yakoob Karim has condemned the government's decision to increase petroleum prices once again in a short span of time. He said that the present government is constantly making cruel decisions to ra
Published 01 Mar, 2018 12:00am
Meezan Bank, IBA sign agreement for fee collection

Meezan Bank, IBA sign agreement for fee collection

Meezan Bank has signed a fee collection agreement with the Institute of Business Administration, Karachi (IBA). Under this agreement, the Bank will provide Payments & Cash Management services to IBA through the Bank's state-of-the-art web based electronic
Published 01 Mar, 2018 12:00am
Faysal Bank's PAT increases to Rs 4.514 billion
Exchange

Faysal Bank's PAT increases to Rs 4.514 billion

The profit after tax (PAT) of Faysal Bank has increased to Rs 4.514 billion in the year ended December 31, 2017 as compared to Rs 4.301 billion earned in the corresponding period in 2016. The bank's earning per share surged to Rs 3.42 in the period under
Published 01 Mar, 2018 12:00am
Faysal Bank's PAT increases to Rs 4.514 billion
Exchange

Faysal Bank's PAT increases to Rs 4.514 billion

The profit after tax (PAT) of Faysal Bank has increased to Rs 4.514 billion in the year ended December 31, 2017 as compared to Rs 4.301 billion earned in the corresponding period in 2016. The bank's earning per share surged to Rs 3.42 in the period under
Published 01 Mar, 2018 12:00am
Thin participation witnessed in MTBs auction

Thin participation witnessed in MTBs auction

A very thin participation was witnessed in the auction for Government of Pakistan Market Treasury Bills (MTBs), held Wednesday. The State Bank conducted the auction for the sale of 3-month, 6-month & 12-month short-term government papers on February 28, 2
Published 01 Mar, 2018 12:00am
Thin participation witnessed in MTBs auction

Thin participation witnessed in MTBs auction

A very thin participation was witnessed in the auction for Government of Pakistan Market Treasury Bills (MTBs), held Wednesday. The State Bank conducted the auction for the sale of 3-month, 6-month & 12-month short-term government papers on February 28, 2
Published 01 Mar, 2018 12:00am
Facebook introduces blood donations feature in Pakistan

Facebook introduces blood donations feature in Pakistan

Facebook launched a blood donations feature in Pakistan to make it easier for people to sign up to be blood donors, and to help connect donors with people and organizations in need. Pakistan, like many countries, has a shortage of safe blood.
Published 01 Mar, 2018 12:00am
Intezar's murder premeditated, claims eyewitness

Intezar's murder premeditated, claims eyewitness

In a new turn in the Intezar-murder case, eyewitness Madiha Kayani has claimed that the 19-year-old's killing was premeditated. Intezar Ahmed was killed after the police's Anti Car Lifting Cell (ACLC) officials opened fire on his vehicle on Khayaban-e-Itt
Published 01 Mar, 2018 12:00am
Charged parking City Council approves contract for 27 locations

Charged parking City Council approves contract for 27 locations

The City Council on Tuesday approved a contract pertaining to charged parking fee collection from 27 locations of Karachi Metropolitan Corporation (KMC). With the City Mayor Waseem Akhtar in chair, the Muttahida Qaumi Movement (MQM) dominated council appr
Published 01 Mar, 2018 12:00am
Education reforms showing progress in Balochistan: report

Education reforms showing progress in Balochistan: report

The Government of Balochistan has invested time and resources in a number of structural and governance reforms since 2013. These reforms have largely been to address the challenges of providing improved infrastructure, devolving key responsibilities, and
Published 01 Mar, 2018 12:00am
University road's green belt turns into cattle's grazing field

University road's green belt turns into cattle's grazing field

A number of green patches on Main University Road from old Sabzi Mandi to NIPA have been reduced to almost nothing as cows are seen grazing on these green strips of land. The newly built green belts are under threat as there is no check on stray cattle.
Published 01 Mar, 2018 12:00am
Two cops martyred in attack on DSP's vehicle in Quetta

Two cops martyred in attack on DSP's vehicle in Quetta

Two police officials were martyred when assailants opened fire at the vehicle of Deputy Superintendent Police (DSP) Hameedullah Dasti on Quetta's Samungli Road Wednesday morning. The DSP narrowly escaped in the incident, Deputy Inspector General (DIG) Raz
Published 01 Mar, 2018 12:00am
Imran condemns Punjab Assembly resolution against NAB

Imran condemns Punjab Assembly resolution against NAB

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has said that the people of Pakistan condemn the resolution adopted by the Punjab Assembly against the National Accountability Bureau (NAB).
Published 01 Mar, 2018 12:00am
POL prices: LCCI urges PM to reject Ogra summary

POL prices: LCCI urges PM to reject Ogra summary

The Lahore Chamber of Commerce & Industry (LCCI) has severely criticized OGRA (Oil and Gas Regulatory Authority) for forwarding summary for another hike in POL price and urged Prime Minister Shahid Khaqan Abbasi to reject this proposal that is bound to hi
Published 01 Mar, 2018 12:00am
Business community to develop civilian airport: FCCI chief

Business community to develop civilian airport: FCCI chief

Business community of Faisalabad has taken a bold decision to develop a state of the art and fully dedicated civilian airport on the pattern of Sialkot model, said Faisalabad Chamber of Commerce & Industry's (FCCI) president Shabbir Hussain Chawla. During
Published 01 Mar, 2018 12:00am
Millat Tractors Limited
Mutual Funds

Millat Tractors Limited

Background Millat Tractors (PSX: MTL) is the largest tractor manufacturing company in the country with nearly 60 percent market share in the category. The company was founded in 1964 and started operations with imports of Completely Built Unit (CBU
Published 01 Mar, 2018 12:00am
Millat Tractors Limited
Mutual Funds

Millat Tractors Limited

Background Millat Tractors (PSX: MTL) is the largest tractor manufacturing company in the country with nearly 60 percent market share in the category. The company was founded in 1964 and started operations with imports of Completely Built Unit (CBU
Published 01 Mar, 2018 12:00am
Water dispute: Pakistan still awaiting World Bank's response

Water dispute: Pakistan still awaiting World Bank's response

Secretary Ministry of Water Resources Shamail Ahmad Khawaja said on Wednesday that Pakistan is waiting for final response from a "biased" World Bank on the mechanism to resolve dispute with New Delhi on two hydroelectric projects - Kishanganga 330 MW and
Published 01 Mar, 2018 12:00am
Clearing process remained suspended on third day at Torkham

Clearing process remained suspended on third day at Torkham

All export and import clearing process was remained suspended at Torkham border as strike of clearing agents continued on third consecutive day on Wednesday. In this connection a massive protest rally was organized in Landi Kotal Bazaar that was attended
Published 01 Mar, 2018 12:00am
US MIDDAY: gold flat

US MIDDAY: gold flat

Gold prices steadied on Wednesday after the previous session's more than 1 percent fall following comments by the Federal Reserve's new chairman that fuelled views the US central bank would raise rates four times this year rather than three. The dollar hi
Published 01 Mar, 2018 12:00am
US MIDDAY: wheat rallies

US MIDDAY: wheat rallies

Chicago Board of Trade soft red winter wheat futures jumped 3.9 percent on Wednesday to their highest in more than seven months, breaking through key technical barriers on support from concerns about crop development in the US Plains, traders said. The ga
Published 01 Mar, 2018 12:00am
Gold steadies in Europe
Currency

Gold steadies in Europe

Gold prices steadied on Wednesday after falling more than 1 percent in the previous session, following comments by Federal Reserve Chairman Jerome Powell that suggested the Fed might raise interest rates four times this year, not three. The dollar hit a f
Published 01 Mar, 2018 12:00am
Gold flat in Asia

Gold flat in Asia

Gold prices were little changed on Wednesday after a more than 1 percent drop in the previous session as investors interpreted comments from Federal Reserve Chairman Jerome Powell to mean that the United States may raise interest rates more frequently tha
Published 01 Mar, 2018 12:00am
Gold slides in New York

Gold slides in New York

Gold prices were down 1 percent Tuesday after the new U.S central bank chairman pledged to stick with gradual interest rate increases. Spot gold was down 1.1 percent at $1,318.22 an ounce by 1:34 pm EST (1834 GMT). Its session low of $1,313.26 was a two-w
Published 01 Mar, 2018 12:00am
Raw sugar rallies, cocoa falls

Raw sugar rallies, cocoa falls

Raw sugar futures climbed off an eight-month low on Wednesday as the market focused on the expiry of the March contract later in the day, while New York cocoa retreated from the prior session's 13-month high. May raw sugar was up 0.36 cent, or 2.8 percent
Published 01 Mar, 2018 12:00am
Malaysian palm oil rises to seven-week top
Exchange

Malaysian palm oil rises to seven-week top

Malaysian palm oil futures rose to a seven-week high in trade on Wednesday evening, extending gains into a fourth session, on support from a weaker ringgit. Weakness in the ringgit, palm's currency of trade, usually makes the tropical oil cheaper for fore
Published 01 Mar, 2018 12:00am
Rubber ends flat
Exchange

Rubber ends flat

Benchmark Tokyo rubber futures ended flat on Wednesday as buying following gains in Shanghai futures were offset by selling due to weaker oil prices and a stronger yen, dealers said. The Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery
Published 01 Mar, 2018 12:00am
Oil drops on surprise US gasoline stock build

Oil drops on surprise US gasoline stock build

Oil prices pared losses on Wednesday, after data showing a build in US crude inventories was tempered somewhat by a drop in US crude production in December. US crude inventories rose by 3 million barrels for the week ending February 23, compared with anal
Published 01 Mar, 2018 12:00am
Copper slips after China data disappoints and dollar gains
Exchange

Copper slips after China data disappoints and dollar gains

Copper prices sank to their lowest in over two weeks on Wednesday as the dollar advanced on prospects of higher interest rates and growth in China's manufacturing sector slowed in February. Benchmark copper on the London Metal Exchange fell 1.3 percent to
Published 01 Mar, 2018 12:00am
Shanghai copper slips
Exchange

Shanghai copper slips

The most-traded April copper contract on the Shanghai Futures Exchange slipped 1.4 percent to close at 52,590 yuan ($8,311.34) a tonne on Wednesday, posting a 1 percent drop for the month. Shanghai zinc, nickel and lead ended down 1 percent, 0.4 percent a
Published 01 Mar, 2018 12:00am
Civilians stay put despite 'truce' in Syria's Ghouta

Civilians stay put despite 'truce' in Syria's Ghouta

Civilians in Syria's Eastern Ghouta enclave shunned Russia's offer of safe passage for a second day Wednesday, as rebels and Moscow blamed each other ffor the humanitarian deadlock The bombardment that killed 600 civilians in 10 days largely stopped but n
Published 01 Mar, 2018 12:00am
Trump son-in-law Kushner loses top security clearance

Trump son-in-law Kushner loses top security clearance

Donald Trump's son-in-law and senior aide Jared Kushner has lost his top-level security clearance, sources familiar with the matter said Tuesday, a decision with potentially profound implications for the US administration. Two sources, who could not speak
Published 01 Mar, 2018 12:00am
Four UN troops killed in central Mali mine blast

Four UN troops killed in central Mali mine blast

Four UN peacekeepers were killed on Wednesday when a mine exploded under their vehicle in central Mali in a deliberate attack, capping a bloody week for civilians and security forces in the West African nation. Jihadists have ramped up their activities in
Published 01 Mar, 2018 12:00am
Egypt train collision kills at least 12

Egypt train collision kills at least 12

Two trains collided Wednesday in northern Egypt killing at least 12 people and injuring dozens of others, the health ministry said, the latest in a string of deadly rail accidents in the country. Twelve people died and 39 were injured in the crash between
Published 01 Mar, 2018 12:00am
Trump mounts new attack on attorney general

Trump mounts new attack on attorney general

President Donald Trump blasted Attorney General Jeff Sessions via Twitter Wednesday, labelling the country's top law enforcement official "disgraceful" over his handling of White House allegations of illegal wiretapping.
Published 01 Mar, 2018 12:00am
James Bond director Lewis Gilbert dies

James Bond director Lewis Gilbert dies

British filmmaker Lewis Gilbert has died at the age of 97, James Bond producers said of the director famed for his work on three 007 movies. "It is with great sadness that we learn of the passing of our dear friend Lewis Gilbert," producers Michael G. Wil
Published 01 Mar, 2018 12:00am
US training Europeans to use nukes against Russia: Lavrov

US training Europeans to use nukes against Russia: Lavrov

Russian Foreign Minister Sergei Lavrov on Wednesday accused Washington of training Europeans in the use of nuclear weapons, with the aim of using them against his country. "Nuclear disarmament is hampered by the US non-strategic nuclear weapons in Europe,
Published 01 Mar, 2018 12:00am
North Korean leaders used Brazilian passports to apply for Western visas

North Korean leaders used Brazilian passports to apply for Western visas

North Korean leader Kim Jong Un and his late father Kim Jong Il used fraudulently obtained Brazilian passports to apply for visas to visit Western countries in the 1990s, five senior Western European security sources told Reuters. While North Korea's ruli
Published 01 Mar, 2018 12:00am
Britain sets out dividing lines on EU citizens' rights

Britain sets out dividing lines on EU citizens' rights

European Union citizens arriving in Britain during a post-Brexit transition period will be able to apply for indefinite leave to stay in the country but will not automatically be able to bring their families with them, the government said on Wednesday. La
Published 01 Mar, 2018 12:00am
Hariri meets Saudi king

Hariri meets Saudi king

Lebanese Prime Minister Saad Hariri met Saudi King Salman on Wednesday, in his first visit back to the country since his resignation in the kingdom sparked a crisis between the longtime allies. Hariri announced on November 4 that he was stepping down in a
Published 01 Mar, 2018 12:00am
Astronomers detect signal of Universe's first stars

Astronomers detect signal of Universe's first stars

A signal from the Universe's first stars, born a cosmic heartbeat after the Big Bang, has been detected for the first time, astronomers said Wednesday, setting the science world aflutter. The observation came after a decade-long quest, years earlier than
Published 01 Mar, 2018 12:00am
EU Brexit treaty says Northern.Ireland could stay in customs union

EU Brexit treaty says Northern.Ireland could stay in customs union

The EU said on Wednesday that British-ruled Northern Ireland could stay part of a customs union with the bloc after Brexit if a better solution is not found. The "backstop" proposal in a draft Brexit withdrawal agreement unveiled by EU negotiator Michel B
Published 01 Mar, 2018 12:00am
'Beast from the East' keeps Europe in deep freeze

'Beast from the East' keeps Europe in deep freeze

Countries across Europe shut schools and rushed to shelter homeless people on Wednesday as a deadly blast of Siberian weather dubbed the "Beast from the East" kept the mercury far below zero. The death toll rose to at least 46 since Friday as a 75-year-ol
Published 01 Mar, 2018 12:00am
IOC lifts doping ban on Russia

IOC lifts doping ban on Russia

The International Olympic Committee has lifted a ban against Russia, Moscow officials said on Wednesday, after the country had been barred from the Pyeongchang games over state-sponsored doping. The news, confirmed later by the IOC, was announced as Olymp
Published 01 Mar, 2018 12:00am
Neymar faces 'at least six weeks out', set to miss Real clash

Neymar faces 'at least six weeks out', set to miss Real clash

Paris Saint-Germain's hopes of getting Neymar back for their crunch Champions League clash against Real Madrid next week look to be over after the Brazilian's father claimed the player would be out for "at least six weeks".
Published 01 Mar, 2018 12:00am
Rutherford pulls out of world indoor championships

Rutherford pulls out of world indoor championships

Britain's former Olympic long jump champion Greg Rutherford on Wednesday withdrew from the world indoor championships in Birmingham as he battles to regain full fitness following injury. Rutherford, who has also won world, European and Commonwealth golds,
Published 01 Mar, 2018 12:00am
Stokes steers England home in second New Zealand ODI

Stokes steers England home in second New Zealand ODI

All-rounder Ben Stokes set aside his off-field troubles to steer England to a six-wicket win in the second one-day international against New Zealand on Wednesday. The 26-year-old produced a man-of-the-match performance in just his second appearance for En
Published 01 Mar, 2018 12:00am
World Cup coaches brace for 'modern life' of VAR

World Cup coaches brace for 'modern life' of VAR

World Cup coaches expressed a quiet confidence on Wednesday about Video Assistant Referee technology ahead of its likely adoption for this year's showpiece event in Russia. Representatives from the 32 teams to have qualified for the World Cup gathered in
Published 01 Mar, 2018 12:00am
Pouille takes Dubai Championships

Pouille takes Dubai Championships

Lucas Pouille found his fitness as he won a re-run of the weekend Marseille final, beating Karen Khachanov 6-4, 3-6, 6-3 on Wednesday at the Dubai Championships. The Frenchman was the only player from his nation to win on the day from three on court. Beno
Published 01 Mar, 2018 12:00am
Putin says safe World Cup crucial to country's image

Putin says safe World Cup crucial to country's image

Russian President Vladimir Putin on Wednesday said a safe World Cup this summer would be essential for the country's image, as the violence from Russian fans at Euro 2016 shadows preparations. In a speech to police, Putin said that Russia, which is to hos
Published 01 Mar, 2018 12:00am
Three more matches decided in Hamdan Holdings Punjab Polo Cup

Three more matches decided in Hamdan Holdings Punjab Polo Cup

Master Paints/Rizvi's, Barry's and Diamond Paints/Guard Rice won their respective matches played on the second day of the ongoing Hamdan Holdings Punjab Polo Cup 2018 here at the Lahore Polo Club ground on Wednesday.
Published 01 Mar, 2018 12:00am
Shahzaib gets one-year ban for spot-fixing case

Shahzaib gets one-year ban for spot-fixing case

Pakistan Wednesday hit former opener Shahzaib Hasan with a one-year ban and a million rupee ($9,050) fine for a spot-fixing incident that rocked the country's Twenty20 League last year. Hasan, 28, was a member of Pakistan's World Twenty20 winning team in
Published 01 Mar, 2018 12:00am
PSL eliminator tickets available at TCS Express Centres

PSL eliminator tickets available at TCS Express Centres

Tickets for the two eliminator matches of Pakistan Super League (PSL) 2018 to be played in Lahore will be available exclusively at TCS Express Centres from Thursday (today). The tickets will be available at 78 TCS express centres in Karachi, Lahore, Sheik
Published 01 Mar, 2018 12:00am
All Pakistan Inter-University Volleyball Championship begins

All Pakistan Inter-University Volleyball Championship begins

Strong University of Central Punjab Lahore recorded opening day victory against Agha Khan University Karachi in the All Pakistan Inter-University Men Volleyball Championship which got under way here at PSB Coaching Center on Wednesday.
Published 01 Mar, 2018 12:00am
Australia skipper Smith eager for South Africa revenge

Australia skipper Smith eager for South Africa revenge

Australia captain Steve Smith is looking for revenge in the upcoming Tests against South Africa to continue the trend which has seen the tourists dominate in recent series between the sides. "Certainly it's a big series for us. We've had a lot of great co
Published 01 Mar, 2018 12:00am
Surge in imports helps curb US growth in fourth quarter

Surge in imports helps curb US growth in fourth quarter

US economic growth slowed slightly more than initially thought in the fourth quarter after the strongest pace of consumer spending in three years depleted inventories and drew in imports as businesses struggled to produce enough goods and services. Gross
Published 01 Mar, 2018 12:00am
Google still under fire over EU anti-trust violations

Google still under fire over EU anti-trust violations

Rivals to Google urged the EU on Wednesday to keep up its fight against the search engine giant, saying proposals by the firm to avoid more EU mega-fines fell short. EU Competition Commissioner Margarethe Vestager in June slapped Google with a record 2.4-
Published 01 Mar, 2018 12:00am
Bayer to win EU approval for $62.5 billion Monsanto deal

Bayer to win EU approval for $62.5 billion Monsanto deal

German drug and crop chemicals maker Bayer is set to win conditional European Union antitrust approval for its $62.5 billion bid for world No. 1 seed company Monsanto, two people familiar with the matter said on Wednesday. The takeover, one of a trio of m
Published 01 Mar, 2018 12:00am
Alibaba sets up AI research centre in Singapore

Alibaba sets up AI research centre in Singapore

Chinese e-commerce giant Alibaba on Wednesday opened an artificial intelligence research institute in Singapore in partnership with a local university, as the battle to develop AI technology heats up. The institute, a tie-up with Nanyang Technological Uni
Published 01 Mar, 2018 12:00am
US, China clash on tariffs on Chinese aluminum foil

US, China clash on tariffs on Chinese aluminum foil

The United States on Tuesday upheld tariffs imposed last year on imports of Chinese aluminum foil valued at nearly $400 million a year, angering Beijing which vowed to hit back. The decision intensified the mounting trade confrontation between Beijing and
Published 01 Mar, 2018 12:00am
China factory expansion slows to 19-month low in February

China factory expansion slows to 19-month low in February

China's factory expansion slowed again in February as output and export orders dropped due to the Lunar New Year holidays, hitting a 19-month low, official data showed Wednesday. The manufacturing purchasing managers index (PMI), a gauge of factory condit
Published 01 Mar, 2018 12:00am
Investment surge pushed French growth to two percent in 2017

Investment surge pushed French growth to two percent in 2017

The French economy grew by a stronger than expected 2 percent in 2017, its best performance since 2011, in a year marked by a surprise acceleration in investment from companies and households, official data showed on Wednesday. Buoyed by rock-bottom inter
Published 01 Mar, 2018 12:00am
German joblessness holds steady at record low

German joblessness holds steady at record low

Unemployment in Germany held steady at historic lows in February, official data showed Wednesday, as booming demand in Europe's top economy fuels an ongoing hiring spree. The jobless rate was unchanged this month at 5.4 percent, the federal labour agency
Published 01 Mar, 2018 12:00am
Eurozone inflation slows, underlining ECB caution
Currency

Eurozone inflation slows, underlining ECB caution

Eurozone inflation slowed to a 14-month low in February, underlining the European Central Bank's caution in removing stimulus despite growth exceeding expectations and the bloc's economy seeming to be on its best footing in a decade. Inflation in the 19 c
Published 01 Mar, 2018 12:00am
Japan's industrial output tumbles
Currency

Japan's industrial output tumbles

Slowing production of cars and electronics in January tipped Japan's industrial output into its biggest tumble since a devastating earthquake in March 2011, highlighting a weakening in demand and a build up of inventory. Separate data showed retail sales
Published 01 Mar, 2018 12:00am
Australia recalls 2.3 million vehicles over airbag problems

Australia recalls 2.3 million vehicles over airbag problems

Australia announced the compulsory recall of 2.3 million vehicles Wednesday due to problems with faulty Takata airbags that have caused at least 23 deaths worldwide. The government intervention - one of the country's biggest ever consumer recalls - follow
Published 01 Mar, 2018 12:00am
Miners knock FTSE 100 after soft China data

Miners knock FTSE 100 after soft China data

British shares fell on Wednesday, dragged down by mining companies after weak factory data from China, while comments from US Federal Reserve Chairman Jerome Powell reignited expectations of more interest rate hikes in the United States. The FTSE 100 was
Published 01 Mar, 2018 12:00am
Southeast Asian stocks fall

Southeast Asian stocks fall

Most South East Asian stock markets fell on Wednesday as the US Federal Reserve chairman's comments brought back fears of faster interest rate hikes in the United States, and weak manufacturing data from China and Japan revived worries about global growth
Published 01 Mar, 2018 12:00am
Australian shares down; New Zealand up

Australian shares down; New Zealand up

Australian shares broke a five-session run of gains on Wednesday, tracking a fall in US equities, while materials stocks fell in line with a dip in commodity prices. Wall Street closed lower overnight after comments from Federal Reserve Chairman Jerome Po
Published 01 Mar, 2018 12:00am
European shares dip as earnings fail to dispel US rate worries

European shares dip as earnings fail to dispel US rate worries

European shares fell on Wednesday as a batch of corporate results failed to offset concerns that US interest rates could rise faster than expected. The pan-European STOXX 600 index fell 0.7 percent, with most bourses and sectors losing ground. Federal Res
Published 01 Mar, 2018 12:00am
Shanghai shares see worst month since early 2016
Exchange

Shanghai shares see worst month since early 2016

China stocks extended losses on Wednesday, with the benchmark Shanghai index recording its worst month since early 2016, as weak factory data rekindled worries about the country's economic health amid fears of faster rate hikes in the United States. For t
Published 01 Mar, 2018 12:00am
Powell's view flattens US yield curve

Powell's view flattens US yield curve

The margin between US shorter- and longer-dated yields narrowed on Tuesday after Federal Reserve Chairman Jerome Powell said data since December pointed to a strengthening economy and his confidence had increased that inflation will rise. His outlook spoo
Published 01 Mar, 2018 12:00am
Powell's view flattens US yield curve

Powell's view flattens US yield curve

The margin between US shorter- and longer-dated yields narrowed on Tuesday after Federal Reserve Chairman Jerome Powell said data since December pointed to a strengthening economy and his confidence had increased that inflation will rise. His outlook spoo
Published 01 Mar, 2018 12:00am
Hong Kong stocks down

Hong Kong stocks down

Hong Kong stocks fell to a two-week low on Wednesday, posting their biggest monthly fall in two years, amid fears of a faster pace of US rate rises. The Hang Seng index fell 1.4 percent, to 30,844.72, while the China Enterprises Index lost 2.1 percent, to
Published 01 Mar, 2018 12:00am
Wall Street sinks as Powell's comments fuel rate worries
Exchange

Wall Street sinks as Powell's comments fuel rate worries

US stocks suffered on Tuesday their biggest daily drops since the selloff three weeks ago after comments from Federal Reserve Chairman Jerome Powell revived fears about more interest-rate increases than expected this year. Powell gave an upbeat view on th
Published 01 Mar, 2018 12:00am
Tokyo stocks down

Tokyo stocks down

Tokyo stocks sagged on Wednesday, as worries about higher interest rates continued to dog the market following testimony in the US Congress from new Federal Reserve chief Jerome Powell. The benchmark Nikkei 225 index lost 1.44 percent or 321.62 points to
Published 01 Mar, 2018 12:00am
Indian shares fall

Indian shares fall

Indian shares fell for a second straight session on Wednesday with financials leading the decline, as fears of faster interest rate hikes in the United States hurt investor risk appetite. The broader NSE index closed below 10,500 for the seventh time in n
Published 01 Mar, 2018 12:00am
Major ME markets slip, Qatar hit hardest as shares go ex-dividend

Major ME markets slip, Qatar hit hardest as shares go ex-dividend

Major Middle Eastern stock markets fell on Wednesday in response to weak global equity and oil prices, with Qatar particularly hard hit by several shares going ex-dividend and a brokerage's decision not to pay an annual dividend. The Qatari index plunged
Published 01 Mar, 2018 12:00am
Aussie, kiwi down
Currency

Aussie, kiwi down

The Australian and New Zealand dollars were stuck at two-week lows on Wednesday after markets priced in the risk of faster rate hikes in the United States, sending Treasury yields and the US currency higher. The Aussie dollar was steady for the moment at
Published 01 Mar, 2018 12:00am
Sterling skids to three-week low
Currency

Sterling skids to three-week low

Sterling skidded below $1.38 to its lowest in almost three weeks on Wednesday, after the EU's chief Brexit negotiator said a transition deal was not guaranteed and the prime minister said the EU's draft legal text would undermine Britain. The British curr
Published 01 Mar, 2018 12:00am
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