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Archive - 2018-03-30
French Ambassador meets Nasser Janjua
Pakistan Top News

French Ambassador meets Nasser Janjua

ISLAMABAD: French Ambassador to Pakistan, Marc Barety called on National Security Adviser Lt. Gen. (R) Nasser Khan J
Published 30 Mar, 2018 11:56pm
IED Blast kills three cops in D. I. Khan
Pakistan Top News

IED Blast kills three cops in D. I. Khan

PESHAWAR: At least three police personnel were killed and two injured as a police vehicle was targeted through a rem
Published 30 Mar, 2018 07:05pm
South Africa v Australia scores
Cricket

South Africa v Australia scores

JOHANNESBURG: Brief scores at tea on the first day of the fourth Test between South Africa and Australia at the Wanderer
Published 30 Mar, 2018 02:25pm
Bullion Prices on Friday
General News

Bullion Prices on Friday

KARACHI: Following were the Bullion Prices in Karachi on Friday. KARACHI: (per 10 gram) Gold Tezabi 24 CT Rs. 5
Published 30 Mar, 2018 01:43pm
SBP mops up Rs36bn from market     
Top News

SBP mops up Rs36bn from market     

KARACHI: State Bank of Pakistan on Friday mopped up Rs 36 billion from money market for seven days as repo sale under it
Published 30 Mar, 2018 12:02pm
Tokyo stocks close higher
Financial

Tokyo stocks close higher

TOKYO: Tokyo stocks jumped on Friday after Wall Street rallied and tensions over North Korea eased, with investors on th
Published 30 Mar, 2018 11:30am
A plan for Karachi
Miscellaneous

A plan for Karachi

The one-week deadline to clean Karachi given by the Chief Justice of Pakistan ended last week; and the city remains the
Published 30 Mar, 2018 05:49am
Jump in edible oil imports
Miscellaneous

Jump in edible oil imports

Short of asking the food loving nation to stop consuming food, Pakistan’s edible oil imports are not going to stop incre
Published 30 Mar, 2018 05:45am
Affectees of OLMT project paid Rs 730 million: minister

Affectees of OLMT project paid Rs 730 million: minister

Provincial Minister for Industries Sheikh Alauddin has said that the Punjab government has so far paid Rs 730 million to the affectees of the Orange Line Metro Train (OLMT) project and promised to approach the Punjab Chief Minister for appropriate compens
Published 30 Mar, 2018 12:00am
PTI to resist any NRO with Sharif family

PTI to resist any NRO with Sharif family

The Pakistan Tehreek-e-Insaf (PTI) on Thursday announced to stage a street demonstration to resist any move of giving the Sharif family an amnesty under the National Reconciliation Ordinance (NRO). While addressing a membership camp, Opposition Leader in
Published 30 Mar, 2018 12:00am
LHC to rehear Cheema's petition

LHC to rehear Cheema's petition

A division bench of the Lahore High Court on Thursday decided to rehear the petition of former DG LDA Ahad Cheema against his arrest in Asihiana-i-Iqbal Housing Scheme's scam and sought reply from the National Accountability Bureau (NAB) by April 02. The
Published 30 Mar, 2018 12:00am
Public parks project shelved

Public parks project shelved

The Punjab government has deferred a project for setting up of 10 new public parks in the city, said sources. They said the Parks and Horticulture Authority (PHA) have given up the idea of setting up parks ahead of general elections. Total budget allocate
Published 30 Mar, 2018 12:00am
Saad accuses Zardari, Imran for doing negative politics

Saad accuses Zardari, Imran for doing negative politics

Pakistan Muslim League-Nawaz (PML-N) senior leader Khawaja Saad Rafique Thursday criticised both Asif Ali Zardari and Imran Khan for practicing negative politics and warned that no one would emerge as winner if parties continued fighting against each othe
Published 30 Mar, 2018 12:00am
FBR initiates audit of Paragon City

FBR initiates audit of Paragon City

Following in the footsteps of National Accountability Bureau (NAB), the Federal Board of Revenue (FBR) has also put Kh Saad Rafique-famed Paragon City on its radar by initiating its audit and seeking bank accounts and other relevant record. Sources said t
Published 30 Mar, 2018 12:00am
Government's price control policy, its failure discussed
Exchange

Government's price control policy, its failure discussed

Speakers at a conference discussed the government's price policies and its failure to reform the regulatory framework for agricultural markets. Due to government policies, the profitability in this sub-sector is extremely low and farmers have neither the
Published 30 Mar, 2018 12:00am
LG Chem CEO expects stable 2018 petrochemical market

LG Chem CEO expects stable 2018 petrochemical market

LG Chem, South Korea's largest chemical company, sees the global petrochemical market being stable this year, and is diversifying its products to guard against falling plastic usage, the company's chief executive said. Asian petrochemical makers typically
Published 30 Mar, 2018 12:00am
APTMA team, Miftah discuss issues of textile industry
Exchange

APTMA team, Miftah discuss issues of textile industry

Textile industry representatives on Thursday met with Advisor to Prime Minister on Finance Miftah Ismail and requested him to solve the matters pertaining to tax refunds of sales tax and drawback of local taxes and levies (DLTL) as well as smooth supply o
Published 30 Mar, 2018 12:00am
PSO's dues soar to Rs 335 billion

PSO's dues soar to Rs 335 billion

Outstanding dues of Pakistan State Oil (PSO) have gone up to Rs 335 billion due to default of power sector in payments of Rs 283 billion. The government differential claims and PIA have also defaulted on Rs 26 billion respectively.
Published 30 Mar, 2018 12:00am
Surrendering vital assets to foreign hands

Surrendering vital assets to foreign hands

It has been learnt that the government is actively considering the establishment of a Pakistan Courier and Logistics Regulatory Authority, reportedly to regulate the country's courier and logistic sector. A Bill known as the Pakistan Courier and Logistics
Published 30 Mar, 2018 12:00am
KE attributes power outages due to reduced gas supply

KE attributes power outages due to reduced gas supply

While city's temperature has crossed 40 centigrade, various areas are being subjected to hours-long load-shedding by the K-Electric that has made worse the routine life of Karachiites. The power utility said the peak demand touched 2,600 MW now and the co
Published 30 Mar, 2018 12:00am
US MIDDAY: gold slips

US MIDDAY: gold slips

Gold prices slipped on Thursday as the US dollar held its strong gains from the previous session, but simmering tensions over Russia and a potential trade war offered underlying support. Gold posted its biggest one-day percentage fall in nearly nine month
Published 30 Mar, 2018 12:00am
US MIDDAY: corn, soya futures soar

US MIDDAY: corn, soya futures soar

US corn futures jumped more than 3 percent on Thursday and soyabeans surged 2 percent after the US Department of Agriculture stunned traders by projecting a year-on-year decline in plantings of both crops. Chicago Board of Trade wheat futures followed the
Published 30 Mar, 2018 12:00am
Gold dips in Europe

Gold dips in Europe

Gold prices dipped on Thursday as the dollar held its strong gains from the previous session, but simmering tensions over Russia and a potential trade war offered support. Gold posted its biggest one-day percentage fall in nearly nine months on Wednesday
Published 30 Mar, 2018 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold prices held largely steady on Thursday, a day after posting its biggest one-day percentage fall in nearly 9 months, as tensions over North Korea and global trade eased. Spot gold was nearly unchanged at $1,325.16 per ounce at 0736 GMT, after hitting
Published 30 Mar, 2018 12:00am
Palm oil falls
Vegetable Oil

Palm oil falls

Malaysian palm oil futures fell on Thursday in its third straight session of declines, tracking weakness in related oils on the US Chicago Board of Trade and China's Dalian Commodity Exchange. The benchmark palm oil contract for June delivery on the Bursa
Published 30 Mar, 2018 12:00am
Rotterdam vegetable oil prices
Vegetable Oil

Rotterdam vegetable oil prices

The following were Thursday's Rotterdam vegetable oil prices at 1600 GMT: (Please note - Markets will be closed for Good Friday and Easter Monday on March 30 and April 2. Will resume trading Tuesday, April 3).
Published 30 Mar, 2018 12:00am
Rotterdam vegetable oil prices
Vegetable Oil

Rotterdam vegetable oil prices

The following were Thursday's Rotterdam vegetable oil prices at 1600 GMT: (Please note - Markets will be closed for Good Friday and Easter Monday on March 30 and April 2. Will resume trading Tuesday, April 3).
Published 30 Mar, 2018 12:00am
Oil prices rise; US crude discount widens

Oil prices rise; US crude discount widens

Oil prices rose on Thursday as the equities markets rallied and as market participants weighed a rise in US crude inventories and production against continued Opec supply curbs. Prices for the more actively traded June Brent crude futures were up 58 cents
Published 30 Mar, 2018 12:00am
Iraq to reduce fees paid to foreign oil companies

Iraq to reduce fees paid to foreign oil companies

Iraq will exclude oil by-products from foreign oil companies' revenues in new contracts expected to be awarded in June, an oil ministry official said on Thursday, effectively reducing production fees they receive from the government. Oil producers in Iraq
Published 30 Mar, 2018 12:00am
Copper recovers, aluminium hits near eight-month low
Exchange

Copper recovers, aluminium hits near eight-month low

Copper rose on Thursday on receding fears about a trade war but ended the quarter down 7 percent, while aluminium hit a near 8 month low on rising stocks and disappointment over China's winter output curbs. Metals markets were shaken this month when US Pr
Published 30 Mar, 2018 12:00am
France accuses Iran of arming Yemen's Huthi rebels

France accuses Iran of arming Yemen's Huthi rebels

France on Thursday accused Iran of supplying weapons to Huthi rebels waging a three-year fight against a Saudi-led coalition in Yemen and rejected Tehran's denial. "There is a problem in Yemen: it is that the political process has not begun, that Saudi Ar
Published 30 Mar, 2018 12:00am
Saudi reforms 'fooling nobody': Amnesty

Saudi reforms 'fooling nobody': Amnesty

Saudi Arabia's widely-lauded reforms are no more than a public relations blitz aimed at masking Riyadh's rights record and are "fooling nobody", Amnesty International said on Thursday. Saudi Arabia, a key US ally and the world's largest oil exporter, bega
Published 30 Mar, 2018 12:00am
US judge rules 9/11 suits against Saudi Arabia can proceed

US judge rules 9/11 suits against Saudi Arabia can proceed

A US federal judge on Wednesday rejected Saudi Arabia's bid to drop lawsuits alleging it helped orchestrate the September 11, 2001 attacks. Manhattan-based Judge George Daniels said in his ruling the plaintiffs "narrowly articulate a reasonable basis" to
Published 30 Mar, 2018 12:00am
Two Koreas agree to hold summit on April 27

Two Koreas agree to hold summit on April 27

The two Koreas on Thursday set a date for a rare inter-Korean summit, following a high-level meeting that was held days after the nuclear-armed North's leader Kim Jong Un made his international debut with a surprise trip to China. "According to the will o
Published 30 Mar, 2018 12:00am
Millions of Indian students to resit exam after test leaked

Millions of Indian students to resit exam after test leaked

India on Thursday vowed to strengthen its online security after high school exam papers were leaked ahead of crucial tests, forcing millions of students to resit their finals. Education Minister Prakash Javadekar said an investigation was underway into ho
Published 30 Mar, 2018 12:00am
US gives boats to Vietnam amid South China Sea tensions

US gives boats to Vietnam amid South China Sea tensions

The US delivered six patrol boats and equipment worth a combined $20 million to Vietnam, the US embassy in Hanoi said Thursday, as the former foes boost ties amid continuing tensions in the South China Sea. Hanoi and Washington have improved defence links
Published 30 Mar, 2018 12:00am
Trump approval rating on the rise

Trump approval rating on the rise

President Donald Trump's approval rating has ticked up, according to two recent polls - an increase that could be due to rosier US economic data - but the Republican leader's popularity still remains below that of his predecessors. Trump's rating moved up
Published 30 Mar, 2018 12:00am
G7 nations agree on a 'common vision' for AI

G7 nations agree on a 'common vision' for AI

Group of Seven countries have agreed to a "common vision" for the development of artificial intelligence, a Canadian minister said Wednesday. Officials met in Montreal for a jobs and innovation forum ahead of Canada's hosting of the G7 industrialized nati
Published 30 Mar, 2018 12:00am
American DiCarlo becomes first female UN political chief

American DiCarlo becomes first female UN political chief

Long-serving American diplomat Rosemary DiCarlo was on Wednesday appointed to become the first woman to head UN political affairs, one of the most high-profile positions at the world body. DiCarlo will replace Jeffrey Feltman, another American who held th
Published 30 Mar, 2018 12:00am
US consumer spending up slightly; jobless claims at 45-year low

US consumer spending up slightly; jobless claims at 45-year low

US consumer spending rose marginally for a second straight month in February as households boosted savings, the latest indication that the economy lost momentum in the first quarter. But the economy's fundamentals remain strong, with other data on Thursda
Published 30 Mar, 2018 12:00am
UK economy grows more than expected in 2017

UK economy grows more than expected in 2017

Britain's economy expanded last year by more than previously thought according to official data published on Thursday, one year before the nation exits the European Union. Gross domestic product growth stood at 1.8 percent in 2017, the Office for National
Published 30 Mar, 2018 12:00am
Barclays to pay $2 billion fine for crisis-era fraud
Exchange

Barclays to pay $2 billion fine for crisis-era fraud

British banking giant Barclays has agreed to pay a $2 billion fine to resolve a fraud case involving mortgage derivatives sold in the run-up to the 2008 global financial crisis, the US Justice Department said Thursday. Authorities said the loans underlyin
Published 30 Mar, 2018 12:00am
Microsoft shakes up ranks to shoot for the cloud

Microsoft shakes up ranks to shoot for the cloud

Microsoft on Thursday announced a big managerial shakeup including the departure of the head of its Windows group as the technology pushes deeper into a future in the cloud. Restructuring moves laid out in a memo from chief executive Satya Nadella include
Published 30 Mar, 2018 12:00am
Brazil's unemployment rises to 12.6 percent

Brazil's unemployment rises to 12.6 percent

Brazil's jobless rate rose in the quarter through February, hitting a higher than expected 12.6 percent, the government statistics office said Thursday. The 0.4 percentage point increase on the previous quarter was the second consecutive rise. Analysts po
Published 30 Mar, 2018 12:00am
German unemployment falls to new historic low

German unemployment falls to new historic low

Joblessness in Germany fell in March to a new record low since reunification in 1990, official data showed Thursday, as good times for Europe's largest economy continue into the new year. Some 5.3 percent of the workforce was out of a job this month, acco
Published 30 Mar, 2018 12:00am
Turkey beats growth forecasts, but inflation a worry

Turkey beats growth forecasts, but inflation a worry

Turkey posted surprisingly strong growth last year, official statistics showed Thursday, delighting the government but also raising the spectre of an overheating economy. Gross domestic product (GDP) expanded by 7.4 percent in 2017 compared to the previou
Published 30 Mar, 2018 12:00am
Estonia, Finland ink deal on new gas pipeline

Estonia, Finland ink deal on new gas pipeline

A sub-sea gas pipeline linking Finland and Estonia moved closer to reality on Thursday as the two EU members signed a construction deal on the project intended to ease the region's dependence on Russian gas. Estonia's electricity and gas system operator E
Published 30 Mar, 2018 12:00am
FTSE posts worst quarter since 2011

FTSE posts worst quarter since 2011

Melrose's successful bid for GKN helped the UK's top share index finish the month on a positive note on Thursday and gave a mildly upbeat end to the FTSE 100's worst quarter since 2011. The blue-chip FTSE 100 was up 0.17 percent on the day at 7,056.61 poi
Published 30 Mar, 2018 12:00am
Dollar slips in Asia
Currency

Dollar slips in Asia

The dollar eased against the yen on Thursday, losing some momentum after hopes of detente in East Asia provided the spark for its largest daily gain in six months the previous session. The dollar fell 0.3 percent to 106.52 yen, giving back some gains afte
Published 30 Mar, 2018 12:00am
Drive against tax-evading restaurants launched

Drive against tax-evading restaurants launched

The Punjab Revenue Authority (PRA) has launched a crackdown against restaurants which are involved in tax evasion. As per details, the PRA enforcement officers raided and sealed six restaurants located in different areas of the city due to tax evasion and
Published 30 Mar, 2018 12:00am
Solar seeks its place under Spanish sun

Solar seeks its place under Spanish sun

Sun-drenched Spain should be a natural for solar energy, and it is here that the technology is making an effort to stand on its feet financially without subsidies. Investors are now betting again on solar power generation in Spain, which for a decade was
Published 30 Mar, 2018 12:00am
UK employers become slightly more confident about hiring

UK employers become slightly more confident about hiring

British employers turned slightly more confident about hiring staff between December and February, according to a survey conducted before Britain struck a Brexit transition deal between the European Union. The Recruitment and Employment Confederation (REC
Published 30 Mar, 2018 12:00am
Abraaj may sell part of investment management business

Abraaj may sell part of investment management business

Private equity firm Abraaj Group is considering selling part of its investment management business as it seeks to stem the fallout from a dispute with investors in one of its funds, three sources familiar with the matter said. Dubai-based Abraaj is in ear
Published 30 Mar, 2018 12:00am
Abraaj may sell part of investment management business

Abraaj may sell part of investment management business

Private equity firm Abraaj Group is considering selling part of its investment management business as it seeks to stem the fallout from a dispute with investors in one of its funds, three sources familiar with the matter said. Dubai-based Abraaj is in ear
Published 30 Mar, 2018 12:00am
China's big banks escape profit Doldrums
Exchange

China's big banks escape profit Doldrums

Two of China's big state-owned banks said Tuesday their profits rebounded in 2017 after a pair of moribund years thanks to an accelerating domestic economy, and analysts expect further gains as a government credit clampdown favours big lenders. The Indust
Published 30 Mar, 2018 12:00am
Internet tycoon challenges D. Telekom to team up on German broadband

Internet tycoon challenges D. Telekom to team up on German broadband

The billionaire founder of United Internet has urged internet providers to found a joint company to build out Germany's high-speed broadband network, challenging market leader Deutsche Telekom to back the venture. Ralph Dommermuth said industry should tak
Published 30 Mar, 2018 12:00am
Dovish ECB persuades money markets to tame rate hike bets

Dovish ECB persuades money markets to tame rate hike bets

Investors have moved to pricing in a March 2019 rate rise by the European Central Bank, whose dovish, go-slow message has persuaded markets to wipe out bets on an earlier move. The ECB boosted markets' rate-hike expectations at the turn of the year with h
Published 30 Mar, 2018 12:00am
Qatar plans for spending restraint, small fiscal surpluses in 2018-2022

Qatar plans for spending restraint, small fiscal surpluses in 2018-2022

Qatar's government will restrain current spending to achieve small budget surpluses and transfer less money to its sovereign wealth fund in coming years if oil and gas prices do not rise, according to the country's new five-year development plan. The Nati
Published 30 Mar, 2018 12:00am
Reboot at Vice Media as co-founder Shane Smith steps down

Reboot at Vice Media as co-founder Shane Smith steps down

Vice Media announced Tuesday that co-founder Shane Smith was giving up his position as chief executive, as the youth-oriented digital group sought to move past recent turbulence. Vice, whose image has been battered by recent reports of workplace harassmen
Published 30 Mar, 2018 12:00am
Massmart to open 20 stores in pan-African expansion

Massmart to open 20 stores in pan-African expansion

South African retailer Massmart is continuing its pan-African expansion with plans to open about 20 new stores outside its home market over the next three years, the company's chairman said on Monday. Massmart, majority-owned by US retail giant Wal-Mart,
Published 30 Mar, 2018 12:00am
Hyundai union head fears GM-like crisis; says electric cars destroy jobs

Hyundai union head fears GM-like crisis; says electric cars destroy jobs

Hyundai Motor's union chief warned its workers may face a similar crisis to the one hitting General Motors' South Korean unit as sales in key markets slide, adding that electric cars were 'evil' and will destroy jobs. South Korea's auto industry, known fo
Published 30 Mar, 2018 12:00am
Australia's ANZ lent to customers without due diligence, inquiry hears

Australia's ANZ lent to customers without due diligence, inquiry hears

Australia and New Zealand Banking Group did not assess whether customers referred through brokers could service their home loans before approval, an inquiry into Australia's financial sector heard on Monday. Home loans are big drivers of growth at Austral
Published 30 Mar, 2018 12:00am
Toshiba awaits regulator approval for key chip unit sale

Toshiba awaits regulator approval for key chip unit sale

Embattled Japanese conglomerate Toshiba said Monday it was still waiting for regulators to approve the key sale of its chip unit, a delay that could stymie plans to complete the deal this month. The firm agreed in September to sell its memory chip busines
Published 30 Mar, 2018 12:00am
Berkshire says median employee makes over half Buffett's pay

Berkshire says median employee makes over half Buffett's pay

Berkshire Hathaway Inc on Friday said its median employee last year made a little over half the $100,000 salary that Chairman Warren Buffett was awarded for running the conglomerate that made him the world's third-richest person.
Published 30 Mar, 2018 12:00am
Goldman Sachs no longer one of top three commodities banks

Goldman Sachs no longer one of top three commodities banks

Goldman Sachs lost its place among the top three earners of commodities-related revenue in 2017, falling below rivals JPMorgan, Morgan Stanley and Citibank for the first time, data from analytics firm Coalition showed.
Published 30 Mar, 2018 12:00am
Goldman Sachs no longer one of top three commodities banks

Goldman Sachs no longer one of top three commodities banks

Goldman Sachs lost its place among the top three earners of commodities-related revenue in 2017, falling below rivals JPMorgan, Morgan Stanley and Citibank for the first time, data from analytics firm Coalition showed.
Published 30 Mar, 2018 12:00am
Saudi's NADEC agrees to acquire dairy competitor
Exchange

Saudi's NADEC agrees to acquire dairy competitor

Saudi Arabia's National Agricultural Development Co (NADEC) has agreed to buy Al Safi Danone Company (ASD) in a deal that will help boost its business in the dairy industry in the kingdom and extend its geographic reach, it said on Sunday.
Published 30 Mar, 2018 12:00am
Crypto assets don't pose risk - yet: FSB study

Crypto assets don't pose risk - yet: FSB study

Virtual currencies and so-called crypto assets do not, yet, pose a systemic risk, the body which makes recommendations about the financial system said in a study released Sunday. "The FSB's initial assessment is that crypto-assets do not pose risks to glo
Published 30 Mar, 2018 12:00am
Ackman exits Nike stake with $100 million in profit

Ackman exits Nike stake with $100 million in profit

Investor William Ackman has stepped out of his Nike sneakers, at least in a financial sense. The billionaire investor's hedge fund Pershing Square Capital Management earned roughly $100 million in profit when it cashed out of its 0.71 percent stake in the
Published 30 Mar, 2018 12:00am
Hong Kong stocks up

Hong Kong stocks up

Hong Kong stocks ended higher amid perceived progress on North Korea issues, though caution lingered as investors continued to watch the development of China-US trade spat. At close of trade, the Hang Seng index closed 0.2 percent up at 30,093.38, while t
Published 30 Mar, 2018 12:00am
US yield curve flattens

US yield curve flattens

The margin between short- and long-dated US Treasury yields shrank on Wednesday as quarter-end buying for portfolio rebalancing and safe-haven demand due to growing stock market losses pushed the benchmark 10-year yield to seven-week lows. On the other ha
Published 30 Mar, 2018 12:00am
US yield curve flattens

US yield curve flattens

The margin between short- and long-dated US Treasury yields shrank on Wednesday as quarter-end buying for portfolio rebalancing and safe-haven demand due to growing stock market losses pushed the benchmark 10-year yield to seven-week lows. On the other ha
Published 30 Mar, 2018 12:00am
Eurozone bonds end March on strong note

Eurozone bonds end March on strong note

Borrowing costs in the euro area crept up on Thursday but were set to end March with big monthly falls on confidence that the ECB will go slow when winding up stimulus and signs the euro zonne economy is losing momentum. German 10-year bond yields, the be
Published 30 Mar, 2018 12:00am
Wall Street ends lower in rocky session on Amazon losses
Exchange

Wall Street ends lower in rocky session on Amazon losses

Wall Street closed lower after a rocky session on Wednesday as gains in consumer staples and healthcare were offset by a sharp drop in Amazon shares and a continuing slide in technology stocks. All three major US indexes ended the day in negative territor
Published 30 Mar, 2018 12:00am
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