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Archive - 2018-04-16
PM Abbasi meets Saudi king in Dammam
Pakistan Top News

PM Abbasi meets Saudi king in Dammam

DAMMAM: Prime Minister Shahid Khaqan Abbasi on Monday met with the Saudi Arabia’s King Salman bin Abdulaziz Al Saud
Published 16 Apr, 2018 08:35pm
PM Abbasi due Tuesday to attend CHOGM 2018
Pakistan Top News

PM Abbasi due Tuesday to attend CHOGM 2018

LONDON: Prime Minister Shahid Khaqan Abbasi will arrive Tuesday to lead the Pakistani delegation to the 25th Commonw
Published 16 Apr, 2018 07:34pm
Hong Kong shares open lower
Financial

Hong Kong shares open lower

HONG KONG: Hong Kong shares dipped in the first few minutes of trade Monday as investors keep an eye on the Middle East
Published 16 Apr, 2018 11:46am
Where are the buses?
Automobile

Where are the buses?

With the exception of 2007, when the Pakistani automotive industry manufactured more than 1700 buses, the sector has not
Published 16 Apr, 2018 07:28am
PTCL: on the mend
Telecommunication

PTCL: on the mend

After years of decline, a telecom giant is on its way back to restore order at the top line. Latest financials released
Published 16 Apr, 2018 07:25am
An update on renewables
Power Generation

An update on renewables

The only major source of renewable energy that has been making it to the country’s energy mix is hydro power. Other sour
Published 16 Apr, 2018 07:25am
UAE interbank rates rise as central bank introduces new system

UAE interbank rates rise as central bank introduces new system

Most United Arab Emirates inter-bank offered rates (EIBOR) rose on Sunday as the central bank introduced a new way of calculating them, seeking to make the system more transparent and reflect market conditions more accurately. The one-month rate edged up
Published 16 Apr, 2018 12:00am
Enel actively eying M&A in regulated sphere: CEO

Enel actively eying M&A in regulated sphere: CEO

Europe's biggest utility Enel is actively looking for mid-size acquisitions of mainly regulated assets outside Europe, with Latin America a focus, its chief executive told Reuters. "We're looking at bolt-on deals below 5 billion euros ... several opportun
Published 16 Apr, 2018 12:00am
Trudeau defends controversial pipeline project

Trudeau defends controversial pipeline project

Canadian Prime Minister Justin Trudeau on Sunday defended his government's backing of a controversial pipeline project, saying the world could not afford to choose between the environment and the economy. In an interview with French business daily Les Ech
Published 16 Apr, 2018 12:00am
'No appetite' for major TPP changes to accommodate US: Australia

'No appetite' for major TPP changes to accommodate US: Australia

There is "no appetite" among the Trans-Pacific Partnership signatories for major renegotiations to accommodate the US, Australia said Sunday after President Donald Trump indicated he was considering rejoining the pact. Trump said Thursday the US could re-
Published 16 Apr, 2018 12:00am
Panama studies building train to Costa Rica with China

Panama studies building train to Costa Rica with China

Panama is considering building a passenger train to Costa Rica with China, a project that would require an initial investment of $5 billion, Panama's President told Reuters in an interview, a sign of the Asian country's growing interest in Latin America.
Published 16 Apr, 2018 12:00am
Zambia says IMF has not asked for independent debt audit

Zambia says IMF has not asked for independent debt audit

The International Monetary Fund (IMF) has not requested Zambia undertake an independent debt audit following market speculation that its foreign debt may be higher than stated, the country's finance minister said on Friday. Zambia, Africa's second-biggest
Published 16 Apr, 2018 12:00am
South Korea's Iranian crude oil imports down in March

South Korea's Iranian crude oil imports down in March

South Korea's March crude oil imports from Iran dropped 39.3 percent from a year earlier on slowing demand for Iranian oil, the country's customs data showed on Sunday. In March, the world's fifth-biggest crude oil importer, imported 1.37 million tonnes o
Published 16 Apr, 2018 12:00am
Banking overhaul seeks to shut Latvian money Laundromat

Banking overhaul seeks to shut Latvian money Laundromat

Eurozone member Latvia is scrambling to reform its banking sector after US authorities accused its third largest lender of large-scale money laundering with connections to North Korea's nuclear weapons development programme.
Published 16 Apr, 2018 12:00am
Rivers worldwide threatened by pharma waste: studies

Rivers worldwide threatened by pharma waste: studies

River systems around world are coursing with over-the-counter and prescription drug waste harmful to the environment, researchers said on Tuesday. On current trends, the amount of pharmaceutical effluence leaching into waterways could increase by two-thir
Published 16 Apr, 2018 12:00am
Researchers warn 'Ebola for plants' hitting Africa's cassava crop

Researchers warn 'Ebola for plants' hitting Africa's cassava crop

A new disease infecting cassava - dubbed "Ebola for plants" - could spell a looming food crisis for Africa, researchers have warned, fearful that the emerging blight could decimate one of the continent's most vital food crops.
Published 16 Apr, 2018 12:00am
Fish oil supplements don't help dry eye disease: study

Fish oil supplements don't help dry eye disease: study

Fish oil supplements have long been recommended to people suffering from dry eye disease, a common ailment that affects millions worldwide - but a study out on Friday says they don't work. "Omega-3 supplements are no more effective than placebo at allevia
Published 16 Apr, 2018 12:00am
New weapon in malaria fight: a better bed net

New weapon in malaria fight: a better bed net

A new kind of bed net that blocks mosquitoes' resistance to a common insecticide provides substantially improved protection against malaria, a major study has found. Malaria-carrying mosquitoes are rapidly evolving the ability to resist insecticides and t
Published 16 Apr, 2018 12:00am
'Devastating' ocean heat waves on the rise

'Devastating' ocean heat waves on the rise

Ocean heat waves which can have "devastating and long-term impacts" on ecosystems have become longer and more frequent over the past century, according to an international study published on Tuesday. From 1925 to 2016, the number of annual marine heat wav
Published 16 Apr, 2018 12:00am
Aeon's annual profit surges by 14 percent

Aeon's annual profit surges by 14 percent

Aeon Co Ltd, Japan's largest retailer by sales, posted a record annual operating profit after a 14 percent jump from the previous year on the back of restructuring efforts, and forecast a further gain this year.
Published 16 Apr, 2018 12:00am
Axis Bank CEO to step down by end-year

Axis Bank CEO to step down by end-year

Axis Bank Ltd said on Monday that its long-time Chief Executive Shikha Sharma will step down at the end of 2018, days after India's central bank was reported to have expressed concerns about the lender giving her a three-year extension.
Published 16 Apr, 2018 12:00am
Volkswagen labour chief backs new CEO Diess to steer overhaul

Volkswagen labour chief backs new CEO Diess to steer overhaul

Volkswagen's top labour representative has backed the company's management shake-up, signalling that new CEO Herbert Diess could face less resistance in his efforts to revamp Europe's biggest carmaker than in his previous role.
Published 16 Apr, 2018 12:00am
BNP Paribas expands in Poland with $1 billion Raiffeisen deal
Currency

BNP Paribas expands in Poland with $1 billion Raiffeisen deal

BNP Paribas is increasing its presence in Poland with the 775 million euro ($954 million) purchase of Raiffeisen Bank International's (RBI) main business in the European Union's largest eastern economy. The French bank said on Tuesday it will merge Raiffe
Published 16 Apr, 2018 12:00am
Qatar Airways signs LoI for 5 Boeing 777 freighters worth $1.7 billion

Qatar Airways signs LoI for 5 Boeing 777 freighters worth $1.7 billion

Qatar Airways signed a preliminary agreement on Tuesday to buy 5 Boeing 777 Freighters worth $1.7 billion, the airline said. The letter of intent was signed at a ceremony attended by Qatar's Minister of Finance Ali Sharif al-Emadi, who is also the airline
Published 16 Apr, 2018 12:00am
BlackRock snags more assets in market rout, boosts profit
Exchange

BlackRock snags more assets in market rout, boosts profit

BlackRock Inc, the world's largest asset manager, generated higher profit during the first quarter by luring more money from investors even as stock and bond markets fell. Fund manager profits typically decline during market routs because their fees are b
Published 16 Apr, 2018 12:00am
BlackRock snags more assets in market rout, boosts profit
Exchange

BlackRock snags more assets in market rout, boosts profit

BlackRock Inc, the world's largest asset manager, generated higher profit during the first quarter by luring more money from investors even as stock and bond markets fell. Fund manager profits typically decline during market routs because their fees are b
Published 16 Apr, 2018 12:00am
Nestle pledges to make all its packaging recyclable by 2025

Nestle pledges to make all its packaging recyclable by 2025

Nestle wants to make all of its packaging recyclable or reusable by 2025, the Swiss food giant said on Tuesday, becoming the latest food company to vow to reduce plastic waste. Environmentalists criticised the plan as lacking substance.
Published 16 Apr, 2018 12:00am
'Ideas' conference to grapple with dark side of tech

'Ideas' conference to grapple with dark side of tech

At a conference where thinkers and luminaries gather to discuss world-changing ideas and innovations, the talk is shifting to the dark side. This year's theme of the annual Technology, Entertainment and Design (TED) conference starting Tuesday in Vancouve
Published 16 Apr, 2018 12:00am
'Poker face' stripped away by new-age tech

'Poker face' stripped away by new-age tech

Dolby Laboratories chief scientist Poppy Crum tells of a fast-coming time when technology will see right through people no matter how hard they try to hide their feelings. Sensors combined with artificial intelligence can reveal whether someone is lying,
Published 16 Apr, 2018 12:00am
Lying eyes: Google engineer develops tool to spot fake video

Lying eyes: Google engineer develops tool to spot fake video

In an era replete with fake news stories, you might expect video evidence to provide a clearer picture of the truth. You'd be wrong, according to Google engineer Supasorn Suwajanakorn - who has developed a tool which, fed with the right input, can create
Published 16 Apr, 2018 12:00am
Bovines online: farmers using AI to help monitor cows
Cotton

Bovines online: farmers using AI to help monitor cows

Is the world ready for cows armed with artificial intelligence? No time to ruminate on that because the moment has arrived, thanks to a Dutch company that has married two technologies - motion sensors and AI - with the aim of bringing the barnyard into th
Published 16 Apr, 2018 12:00am
Instagram to allow users to download data
Kerb

Instagram to allow users to download data

Facebook Inc's Instagram will soon allow its users to download a copy of all the content they have uploaded on the photo-sharing platform, a spokesman said on Wednesday. The disclosure comes amid global concerns about the privacy of users' information on
Published 16 Apr, 2018 12:00am
Facebook to offer 'bounty' for reporting data abuse
Kerb

Facebook to offer 'bounty' for reporting data abuse

Facebook said Tuesday it would begin offering rewards to people who report misuse of private information from the social network, as part of an effort to step up data protection in the wake of a firestorm.
Published 16 Apr, 2018 12:00am
Spotify puts bank IPO paydays under fund manager scrutiny
Exchange

Spotify puts bank IPO paydays under fund manager scrutiny

After shaking up the music industry, Spotify is now prompting investors to question the value they get from investment banks underwriting new listings with its low-cost IPO. The music streaming firm effectively deprived banks of hundreds of millions of do
Published 16 Apr, 2018 12:00am
Spotify puts bank IPO paydays under fund manager scrutiny
Exchange

Spotify puts bank IPO paydays under fund manager scrutiny

After shaking up the music industry, Spotify is now prompting investors to question the value they get from investment banks underwriting new listings with its low-cost IPO. The music streaming firm effectively deprived banks of hundreds of millions of do
Published 16 Apr, 2018 12:00am
Australian, New Zealand dollars seen resilient
Currency

Australian, New Zealand dollars seen resilient

The Australian and New Zealand dollars are likely to stay resilient this year, a Reuters poll showed, even as fears of a global trade war spark wild gyrations in currency markets. The survey of 33-47 analysts plotted an uneventful future for the Australia
Published 16 Apr, 2018 12:00am
China's money rates stable

China's money rates stable

China's primary money rates remained stable this week thanks in part to weaker demand for cash prompted by China's official deleveraging campaign, and despite the central bank conducting a net drain of liquidity from the banking system for a fourth consec
Published 16 Apr, 2018 12:00am
J.P Morgan sued over fees for cryptocurrency purchases
Currency

J.P Morgan sued over fees for cryptocurrency purchases

J.P. Morgan Chase & Co has been hit with a lawsuit in Manhattan federal court accusing it of charging surprise fees when it stopped letting customers buy cryptocurrency with credit cards in late January and began treating the purchases as cash advances.
Published 16 Apr, 2018 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Sunday. 82.98-82.98 (Previous 82.98-82.98).
Published 16 Apr, 2018 12:00am
No retaliation after Syria boosts Gulf markets

No retaliation after Syria boosts Gulf markets

Most Gulf stock markets rose on Sunday due to firm oil prices and relief that the weekend's military attack on Syria was relatively limited in scope and there was no immediate retaliation.
Published 16 Apr, 2018 12:00am
Rouble rises, EM stocks set for first weekly gain in a month
Exchange

Rouble rises, EM stocks set for first weekly gain in a month

Russia's rouble continued to gain ground on Friday but was still set for its worst week since August 2015 after a sharp sell off fuelled by sanctions and Syria tensions, while emerging stocks were on course for their first weekly gain in a month.
Published 16 Apr, 2018 12:00am
Rouble rises, EM stocks set for first weekly gain in a month
Exchange

Rouble rises, EM stocks set for first weekly gain in a month

Russia's rouble continued to gain ground on Friday but was still set for its worst week since August 2015 after a sharp sell off fuelled by sanctions and Syria tensions, while emerging stocks were on course for their first weekly gain in a month.
Published 16 Apr, 2018 12:00am
Investor immunity to cryptocurrency 'disease' growing: Barclays
Currency

Investor immunity to cryptocurrency 'disease' growing: Barclays

The investment mania for cryptocurrencies is like an infectious disease whose transmission rate may be declining, Barclays said on Tuesday, concluding their combined market capitalisation has probably already peaked. Cryptocurrencies hit a collective valu
Published 16 Apr, 2018 12:00am
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