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Archive - 2018-05-17
Vice Chairman CMC calls on COAS Gen. Bajwa
Pakistan Top News

Vice Chairman CMC calls on COAS Gen. Bajwa

RAWALPINDI: General Zhang Youxia, Vice Chairman of Chinese Central Military Commission (CMC) called on General Qamar
Published 17 May, 2018 07:03pm
Pak reserves stand at $ 17.067bn
Top News

Pak reserves stand at $ 17.067bn

KARACHI: Total liquid foreign reserves of the country stand at 17.067 billion dollars, said the State Bank of Pakistan.
Published 17 May, 2018 01:50pm
Poor FDI; poorer transparency
Banking

Poor FDI; poorer transparency

At less than one percent of the GDP, the 2.4 percent year-on-year increase in net foreign direct investments (FDI) in 10
Published 17 May, 2018 07:16am
No debt; no life!
Banking

No debt; no life!

The sharp increase in external debt is no surprise and it isn’t catching headlines as either the debt story is known to
Published 17 May, 2018 07:13am
Honda’s challenging growth
Automobile

Honda’s challenging growth

With strong demand for both of its car variants, Honda Atlas Cars (PSX: HCAR) wrapped up its year ending March 2018 with
Published 17 May, 2018 07:11am
Over 1.4 million criminal records digitalized: IG Sindh

Over 1.4 million criminal records digitalized: IG Sindh

Inspector General Police Sindh, A D Khawaja has said that with the help of Punjab IT board more than 1.4 million criminal records had been digitalized and Criminal Record Offices would be establish at every Jail of Sindh by the end of May 2018. Speaking a
Published 17 May, 2018 12:00am
'OPC Punjab pursuing vigorous policy to resolve issues'

'OPC Punjab pursuing vigorous policy to resolve issues'

"Overseas Pakistanis Commission (OPC) Punjab is pursuing a vigorous policy to resolve the issues faced by expatriate Pakistanis. A dedicated team consisting of eight senior officers of OPC is regularly monitoring the complaints forwarded to administrative
Published 17 May, 2018 12:00am
KE's BQP unit to be operational by May 20

KE's BQP unit to be operational by May 20

Supply of electricity from the affected part of K-Electric's Bin Qasim Power unit is likely to take three to four more days as the power utility on Wednesday imported the required part from Holland-two weeks after the plant developed fault resulting in su
Published 17 May, 2018 12:00am
NBP hands-over quingqui rickshaws to tribal youth

NBP hands-over quingqui rickshaws to tribal youth

The National Bank of Pakistan (NBP) Wednesday handed over ten quingqui rickshaws under its Rozgar scheme to the employed youth of Mohmand Agency. The Governor, Khyber Pakhtunkhwa, Iqbal Zafar Jhagra was the chief guest who handed over the keys of the quin
Published 17 May, 2018 12:00am
Opposition slams PPP for ignoring Karachi's development

Opposition slams PPP for ignoring Karachi's development

Opposition in the Sindh Assembly continued its criticism to the provincial fiscal budget 2018-19, saying that the country's largest city - Karachi suffers the worst portable water shortage. "Don't make Karachi as Paris, let Karachi as Karachi," Irum Azeem
Published 17 May, 2018 12:00am
'Waves going strong even after the fire'

'Waves going strong even after the fire'

As reported in the media, a tragic fire broke out on 11th May 2018 at the production facility of Waves factory Pakistan. By the grace of God Almighty and the timely protective measures taken by the administration, there were no casualties.
Published 17 May, 2018 12:00am
ITP, CADD launch anti-smoking drive

ITP, CADD launch anti-smoking drive

The Islamabad Traffic Police (ITP) in collaboration with Capital Administration and Development Division (CADD) has launched campaign to curb smoking practices from the city especially in public transport vehicles.
Published 17 May, 2018 12:00am
QICT's online payment system for banks in two months

QICT's online payment system for banks in two months

Qasim International Containers Terminal (QICT) is going to extend its online payment system to all banks in next couple of months. This was disclosed by Junaid Zameer, CEO M/s D P World during his electronic presentation at the first meeting of FPCCI Stan
Published 17 May, 2018 12:00am
Husain Lawai elected PSX Board chief

Husain Lawai elected PSX Board chief

The newly constituted Board of Directors (BoD) of Pakistan Stock Exchange Limited (PSX) held its first meeting, where Husain Lawai was unanimously elected as Chairman of the Board. Husain Lawai, along with other six persons, was recently appointed as Inde
Published 17 May, 2018 12:00am
Pakistan facing serious threats of climate change: Usama Qureshi

Pakistan facing serious threats of climate change: Usama Qureshi

Managing Director and CEO Hamdard Laboratories (Waqf) Pakistan Usama Qureshi has said that Pakistan faced serious threats of climate change and environmental pollution as Pakistan was among most vulnerable countries. While, addressing Hamdard Naunehal Ass
Published 17 May, 2018 12:00am
SBP timings for Ramazan

SBP timings for Ramazan

The State Bank of Pakistan (SBP) Wednesday announced business hours for the month of Ramazan. According to SBP, during Ramazan, office and business hours will be 8:00am to 2:15pm without break from Monday to Thursday, while on Friday it will be 8:00 am to
Published 17 May, 2018 12:00am
SBP chief highlights role of financial sector in national development

SBP chief highlights role of financial sector in national development

The State Bank of Pakistan (SBP) Governor Tariq Bajwa Wednesday said that the financial sector is instrumental in the national development of a country and the role of the institutions contributing to this sector in various forms needs to be not only high
Published 17 May, 2018 12:00am
Bills and sanctions: Sindh government sets June 11 cut off date

Bills and sanctions: Sindh government sets June 11 cut off date

For financial close of year 2017-18, Sindh government has fixed June 11, 2018 cut-off date for receipt of fresh bills and sanctions by directing the accounting officers across the province to follow the guidelines. Provincial government formulated the pol
Published 17 May, 2018 12:00am
Petition against NAB chairman rejected

Petition against NAB chairman rejected

The Supreme Court Wednesday returned the petition seeking removal of NAB chairman for issuance of a press release regarding alleged involvement of Mian Muhammad Nawaz Sharif in money laundering. President Pakistan Muslim League-Nawaz, Japan chapter, Noor
Published 17 May, 2018 12:00am
Fata-KP merger bill not in the offing, says minister

Fata-KP merger bill not in the offing, says minister

Minister for States and Frontier Regions Lieutenant-General Abdul Qadir Baloch (retd) Wednesday said the government is not bringing any bill regarding merger of Federally Administered Tribal Areas (FATA) with Khyber Pakhtunkhwa; instead, it has plan to ma
Published 17 May, 2018 12:00am
Mumbai attacks case: ATC summons prosecution's Pakistani witnesses

Mumbai attacks case: ATC summons prosecution's Pakistani witnesses

The anti-terrorism court, hearing the 2008 Mumbai attacks trial case on Wednesday, issued summons to two Pakistan-based prosecution witnesses to record their statements. The witnesses, Federal Investigation Agency's additional directors Wajid Zia and Zahi
Published 17 May, 2018 12:00am
Maleeha for independent probe into Israel's 'state terrorism' in Gaza

Maleeha for independent probe into Israel's 'state terrorism' in Gaza

Pakistan's Ambassador to the United Nations Maleeha Lodhi on Wednesday called for an independent inquiry into Israeli "state terrorism" in Gaza. "I raised the issue of the massacre of Palestinians due to Israeli state terrorism in Gaza," Lodhi said while
Published 17 May, 2018 12:00am
Ufone to compensate Rs 1 million to each family of deceased labourers

Ufone to compensate Rs 1 million to each family of deceased labourers

A local cellular company Wednesday assured the top court that it will provide one million rupees to each family of six labourers killed in district Kharan of Balochistan. Six labourers of Pak Telecom Mobile Limited (Ufone) were killed while installing the
Published 17 May, 2018 12:00am
Government urged to expedite process of Fata's mainstreaming

Government urged to expedite process of Fata's mainstreaming

Speakers at consultative dialogue urged the government to expedite the process of mainstreaming of Federally Administered Tribal Areas (Fata) and its merger with Khyber Pakhtunkhwa so that the tribal region will bring at par to other parts of the country.
Published 17 May, 2018 12:00am
Efforts afoot to enforce drug regulations: minister

Efforts afoot to enforce drug regulations: minister

Federal Minister for National Health Services, Regulations and Coordination Saira Afzal Tarar has said that efforts are being made to enforce drug regulations and improving the standard of medical education in the country. Addressing the inaugural ceremon
Published 17 May, 2018 12:00am
NBP, Serving Hands & PHRP&J set up medical camps in Goths

NBP, Serving Hands & PHRP&J set up medical camps in Goths

National Bank of Pakistan, in collaboration with Serving Hands International and Pakistan Human Rights for Peace and Justice, Tando Adam, set-up medical camps at Goth Photo-Bangoro and Rasheed Khyber Goth.
Published 17 May, 2018 12:00am
Seminar on 'Promoting Quality Culture in HEIs' held at Wah university

Seminar on 'Promoting Quality Culture in HEIs' held at Wah university

University of Wah organized its 2nd National Seminar on "Promoting Quality Culture in Higher Educational Institutions. Quality Assurance representatives from over 40 Universities across Pakistan including GIKI, Lahore College for Women University, Khyber
Published 17 May, 2018 12:00am
FCCI delegation to visit GB after Ramazan

FCCI delegation to visit GB after Ramazan

A delegation of the Faisalabad Chamber of Commerce & Industry (FCCI) will visit Gilgit Baltistan (GB) immediately after Ramazan to review the investment opportunities in this Province, said Shabbir Hussain Chawla FCCI president.
Published 17 May, 2018 12:00am
Female fitness centre opens at PU

Female fitness centre opens at PU

Punjab University Vice Chancellor Professor Dr Nasira Jabeen has inaugurated first-ever power lifting centre, ladies fitness centre and ladies swimming pool at Women's Sports Complex, Old Campus here on Wednesday.
Published 17 May, 2018 12:00am
LUMS students get an insight on Zong 4G's evolution

LUMS students get an insight on Zong 4G's evolution

Zong 4G continues to embark on its journey to create awareness pertinent 4G and evolution towards 5G. Thus, it conducted an awareness session in one of the most prestigious educational institution Lahore University of Management Sciences (LUMS).
Published 17 May, 2018 12:00am
Pakistan calls for debate on causes of extremist ideologies

Pakistan calls for debate on causes of extremist ideologies

Pakistan has called for addressing internal and external factors that drive extremist ideologies in different countries and regions as the UN General Assembly began its sixth review of the Global Counter-Terrorism Strategy, the wide-ranging framework adop
Published 17 May, 2018 12:00am
Cardiovascular diseases affect 50 percent of adults: experts

Cardiovascular diseases affect 50 percent of adults: experts

Cardiovascular diseases (CVDs) are the number one cause of deaths worldwide while in Pakistan, 50-percent of adults are affected by this disease. Ischemic heart disease (IHD) is responsible for 46 percent of CVD deaths in males and 38 percent in females.
Published 17 May, 2018 12:00am
SBP okays local lending to edotco PK

SBP okays local lending to edotco PK

The edotco Pakistan Private Limited (edotco PK) has successfully obtained approval from the State Bank of Pakistan (SBP), allowing local lenders to fund the acquisition by edotco PK of Jazz's portfolio of 13,000 tower assets currently under Deodar Private
Published 17 May, 2018 12:00am
Shahbaz inaugurates OLMT's test run

Shahbaz inaugurates OLMT's test run

Punjab Chief Minister Shahbaz Sharif inaugurated the test run of the Lahore Orange Line Metro Train on Wednesday. Shahbaz boarded the metro train from Islam Park station which completed its test run from Islam Park to Chowk Laxami successfully. The Chines
Published 17 May, 2018 12:00am
Ramazan traffic arrangements for Lahore finalized

Ramazan traffic arrangements for Lahore finalized

The City Traffic Police (CTP) Lahore has made it mandatory for all traffic wardens up to the rank of Superintendent of Police (SP) to break their fast while performing their duties on roads to maintain a smooth flow of traffic during Ramazan-ul-Mubarak.
Published 17 May, 2018 12:00am
LCCI's awareness session on SMEs

LCCI's awareness session on SMEs

Small and medium enterprises (SMEs) are backbone of the economy and their role is crucial for economic development of the country. A good workable policy should be evolved for the SMEs in consultation with the stakeholders.
Published 17 May, 2018 12:00am
GPCC chief for promotion of Pak-Greek trade
Cotton

GPCC chief for promotion of Pak-Greek trade

Greek-Pakistani Chamber of Commerce (GPCC) president Maria Rubina Markopoulou Wednesday visited the regional office of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and discussed the matters related to promote the bilateral trade be
Published 17 May, 2018 12:00am
Punjab Assembly passes 12 bills

Punjab Assembly passes 12 bills

The Punjab Assembly passed 12 bills on Wednesday while The Punjab Fertilizers Bill 2018 was introduced in the House. The bills which were passed include The Drugs (Punjab Amendment) Bill 2018, The Punjab Agricultural Marketing Regulatory Authority Bill 20
Published 17 May, 2018 12:00am
Death of Moiz's father condoled

Death of Moiz's father condoled

Father of Abdul Moiz IT (Information Technology) Assistant of the Faisalabad Chamber of Commerce & Industry (FCCI) breathed his last here yesterday. President Shabbir Hussain Chawla and Secretary General (SG) FCCI Abid Masood have condoled over the sad de
Published 17 May, 2018 12:00am
Subsidized flour bags to be supplied to Ramazan Bazaars from today

Subsidized flour bags to be supplied to Ramazan Bazaars from today

The Punjab Food Department (PFD) under "Ramazan Package 2018" has announced to start providing subsidized flour bags in special Ramazan Bazaars and open market from Thursday (today) at the rate of Rs 250 per 10 kilogram bag and Rs 500 per 20 kilograms bag
Published 17 May, 2018 12:00am
Hoodbhoy decries state of science & teaching in Pakistan

Hoodbhoy decries state of science & teaching in Pakistan

Ibne Khaldun was the last great Muslim scientist 700 years ago and after him the Muslims never engaged with science as with the beginning of fourteenth century the Islamic world came under the sway of religious scholars who disregard and disparage science
Published 17 May, 2018 12:00am
Textile exhibition held at UAF

Textile exhibition held at UAF

The University of Agriculture Faisalabad on Wednesday opened one-day textile exhibition, depicting the colors of eastern dresses, designing and home decoration at the gallery of Iqbal Auditorium, UAF.
Published 17 May, 2018 12:00am
Housing scam: LHC grants bail to two LDA officials

Housing scam: LHC grants bail to two LDA officials

The Lahore High Court Wednesday granted bail to LDA Chief Engineer Israr Saeed and Punjab Land Development Company Chief Engineer Colonel Arif Majeed (retd), co-accused of former LDA Director General Ahad Khan Cheema in Ashiyana Housing Scheme scam, and b
Published 17 May, 2018 12:00am
Emirates introduces special Ramazan service

Emirates introduces special Ramazan service

Emirates will commence its signature Ramadan service for customers during the holy month in Pakistan. Emirates' Ramadan service consists of specially crafted Iftar meals on board, relevant programming on its ice in-flight entertainment system, and the dis
Published 17 May, 2018 12:00am
Sitara Chemical Industries Limited
Vegetable Oil

Sitara Chemical Industries Limited

Sitara Chemicals Industries Limited (PSX: SITC) was incorporated in 1981. It began producing caustic soda in 1985, initially at the rate of 30 metric tons a day, which has since then increased to over 600 MT a day.
Published 17 May, 2018 12:00am
Sitara Chemical Industries Limited
Vegetable Oil

Sitara Chemical Industries Limited

Sitara Chemicals Industries Limited (PSX: SITC) was incorporated in 1981. It began producing caustic soda in 1985, initially at the rate of 30 metric tons a day, which has since then increased to over 600 MT a day.
Published 17 May, 2018 12:00am
Drowned in debt

Drowned in debt

Manipulating data to give a false sense of prosperity to the people of Pakistan has been the hallmark of the outgoing regime. Whenever manipulation of data became difficult, the finance minister of the regime mysteriously changed the definitions of the va
Published 17 May, 2018 12:00am
Details of Dar's cheques produced before court

Details of Dar's cheques produced before court

A prosecution witness on Wednesday produced details of four cheques of former Finance Minister Ishaq Dar, which he had issued in favor of Hajveri Foundation, before the Accountability Court hearing corruption cases against him.
Published 17 May, 2018 12:00am
Marriyum felicitates nation on Ramazan

Marriyum felicitates nation on Ramazan

Federal Minister for Information and Broadcasting Marriyum Aurangzeb Wednesday felicitated the nation on the start of holy month of Ramazan filled with bounty of blessings, benevolence and prayers.
Published 17 May, 2018 12:00am
SSP Asmatullah Junejo torture case: IHC moved against ATC verdict

SSP Asmatullah Junejo torture case: IHC moved against ATC verdict

The federal government on Wednesday moved the Islamabad High Court against the Special Anti-Terrorism Court (ATC) verdict which exonerated Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan from Senior Superintendent of Police (SSP) Asmatullah Junejo tort
Published 17 May, 2018 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

Gold prices rebounded from a 4-1/2-month low on Wednesday on short-covering as the US dollar came off its 2018 highs and US bond yields sat near multi-year peaks. Spot gold was 0.2 percent higher at $1,292.19 by 1:39 p.m. ET (1739 GMT), having gone as low
Published 17 May, 2018 12:00am
US MIDDAY: soyabeans fall

US MIDDAY: soyabeans fall

US soyabean futures fell 1.4 percent on Wednesday on renewed fears about a trade dispute chilling demand from China, the world's top buyer of the oilseed. Wheat futures ticked higher on short-covering, recovering from a three-week low hit on Tuesday, whil
Published 17 May, 2018 12:00am
Gold steadies in Europe

Gold steadies in Europe

Gold prices steadied on Wednesday after falling to their lowest since December as the dollar rallied to 2018 highs and US bond yields sat near multi-year peaks. The metal had suffered its biggest single-day loss since November 2016 when it fell 1.7 percen
Published 17 May, 2018 12:00am
Gold recovers in Asia

Gold recovers in Asia

Gold prices recovered some lost ground on Wednesday on short-covering after prices fell to the lowest level this year in the previous session on surging US bond yields and a stronger dollar. Spot gold rose 0.3 percent to $1,294.30 per ounce at 0639 GMT, a
Published 17 May, 2018 12:00am
Gold tumbles in NY
Currency

Gold tumbles in NY

Gold slid more than 1 percent on Tuesday, falling for a third day to hit its lowest this year as a rise in US borrowing costs pushed up the dollar and overshadowed the impact of strife in Gaza. Downward momentum in gold picked up after the metal broke bel
Published 17 May, 2018 12:00am
New York cocoa rebounds; arabica coffee rises
Currency

New York cocoa rebounds; arabica coffee rises

Cocoa futures on ICE turned higher on Wednesday after tapping multi-week lows, erasing most of the prior session's steep losses as fund buying returned to the markets. Arabica coffee also inched higher. July New York cocoa settled up $56, or 2.1 percent,
Published 17 May, 2018 12:00am
Malaysian palm oil falls
Vegetable Oil

Malaysian palm oil falls

Malaysian palm oil futures edged down on Wednesday, their first decline in three days, tracking weaker related oils and due to slowing export demand. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was down 0
Published 17 May, 2018 12:00am
Rubber surges

Rubber surges

Benchmark Tokyo rubber futures closed slightly higher on Wednesday, snapping two consecutive sessions of decline. "Rubber futures prices are relatively stable right now. On one hand, there is pressure from high inventories. On the other hand, prices are a
Published 17 May, 2018 12:00am
Oil slips as dollar gains, demand shows signs of weakening

Oil slips as dollar gains, demand shows signs of weakening

Oil prices slipped on Wednesday, as a strengthening dollar overshadowed a US crude inventory report that showed domestic crude stocks falling more than expected. Brent crude futures were down 31 cents at $77.43 a barrel by 11:17 a.m. EDT (1517 GMT), while
Published 17 May, 2018 12:00am
Small Swiss trader Lord Energy enters Russian oil market

Small Swiss trader Lord Energy enters Russian oil market

While major traders expect consolidation in the crowded oil trading sphere, small Lugano-based firm Lord Energy is finding new niches and taking a bet by entering into Russian oil. Hazim Nada set up the Swiss trading firm, now called Lord Energy, a decade
Published 17 May, 2018 12:00am
Copper rises on upbeat Chinese data
Currency

Copper rises on upbeat Chinese data

Copper ended marginally higher on Wednesday after two losing sessions, with the uplift from encouraging Chinese home sales data capped by a stronger dollar. Benchmark copper on the London Metal Exchange finished 0.2 percent up at $6,826 a tonne after fall
Published 17 May, 2018 12:00am
Shanghai copper slips

Shanghai copper slips

The most-traded July copper contract on the Shanghai Futures Exchange slipped 0.5 percent to 51,020 yuan ($8,010.17) a tonne on Wednesday as the US dollar hovered near a five-month high versus a basket of major currencies following a surge in Treasury yie
Published 17 May, 2018 12:00am
New confirmation of chlorine use in Syria

New confirmation of chlorine use in Syria

Global arms experts Wednesday confirmed chlorine was used in a Syrian town in February leaving residents fighting for breath, as the world awaits the results of a probe into last month's alleged poison gas attack on Douma. A fact-finding mission by the Or
Published 17 May, 2018 12:00am
Regime retakes full control of central Syria as rebels evacuate

Regime retakes full control of central Syria as rebels evacuate

The Syrian government retook full control of central Syria on Wednesday as rebels and their relatives were evacuated from final pockets of territory still outside the regime's grasp, an AFP correspondent reported. The evacuations from areas straddling the
Published 17 May, 2018 12:00am
Scientists uncover likely cheating on ozone treaty

Scientists uncover likely cheating on ozone treaty

The decline in the atmosphere of an ozone-depleting chemical banned by the Montreal Protocol has recently slowed by half, suggesting a serious violation of the 196-nation treaty, researchers revealed Wednesday. Measurements at remote sites - including the
Published 17 May, 2018 12:00am
Tens of thousands protest Belgian pension reform

Tens of thousands protest Belgian pension reform

Tens of thousands of people marched through the Belgian capital Brussels on Wednesday to protest the centre-right government's plans to reform pensions. Police said 55,000 people took part in the demonstration against a points-based retirement system and
Published 17 May, 2018 12:00am
Cambridge Analytica shared data with Russia: whistleblower

Cambridge Analytica shared data with Russia: whistleblower

Political consulting group Cambridge Analytica used Russian researchers and shared data with companies linked to Russian intelligence, a whistleblower told a congressional hearing on interference in the 2016 US election Wednesday.
Published 17 May, 2018 12:00am
Indonesia hit by new IS-claimed attack

Indonesia hit by new IS-claimed attack

Four men who attacked an Indonesian police headquarters with samurai swords were shot dead Wednesday and one officer also died, authorities said, days after a wave of deadly suicide bombings claimed by the Islamic State (IS) group rocked the country. The
Published 17 May, 2018 12:00am
Japan passes law to get more women into politics

Japan passes law to get more women into politics

Japan's parliament on Wednesday passed a law to encourage female candidates to stand for elections in a country where women are vastly underrepresented in politics. Under the new law, political parties are urged to make the number of male and female candi
Published 17 May, 2018 12:00am
Eight dead as suicide blast hits Baghdad mourners

Eight dead as suicide blast hits Baghdad mourners

Eight people were killed and about 30 others wounded Wednesday when a suicide bomber blew himself up in a tent filled with mourners in Baghdad, police and medical sources said. The attack hit the Taji district in the north of the Iraqi capital at around 1
Published 17 May, 2018 12:00am
Two dead in Nepal plane crash

Two dead in Nepal plane crash

Two people died after a cargo plane crashed in Nepal during bad weather Wednesday, the latest aviation accident in the impoverished Himalayan nation. The Makalu Air flight lost contact moments after takeoff and crashed into a hillside not far from its des
Published 17 May, 2018 12:00am
Trump says 'we'll see' as North Korea threatens to cancel summit

Trump says 'we'll see' as North Korea threatens to cancel summit

US President Donald Trump sounded a note of caution Wednesday about his much-vaunted summit with Kim Jong Un, saying "we'll see" after Pyongyang threatened to cancel. Trump said the US government had not received any official word of a change in plans for
Published 17 May, 2018 12:00am
Israeli ambassador exits Turkey as Gaza row mounts

Israeli ambassador exits Turkey as Gaza row mounts

Israel's ambassador to Turkey on Wednesday left the country after being ordered out by Ankara in a growing crisis over the killing by Israeli fire of dozens of Palestinians on the Gaza border that threatens a reconciliation deal.
Published 17 May, 2018 12:00am
Senate panel approves CIA nominee Haspel despite torture background

Senate panel approves CIA nominee Haspel despite torture background

A key US Senate panel on Wednesday greenlighted the nomination of veteran covert operative Gina Haspel to become director of the Central Intelligence Agency, despite her involvement in the torture of Al-Qaeda detainees in the early 2000s.
Published 17 May, 2018 12:00am
US industrial production rises strongly; homebuilding tumbles

US industrial production rises strongly; homebuilding tumbles

US industrial production increased solidly in April amid an acceleration in manufacturing and mining output, the latest indication that the economy was gathering momentum early in the second quarter. The upbeat report from the Federal Reserve on Wednesday
Published 17 May, 2018 12:00am
Russian growth beats government forecast

Russian growth beats government forecast

The Russian economy expanded by 1.3 percent in the first quarter of the year compared to the same period in 2017, the national statistic agency Rosstat said on Wednesday. The growth rate exceeded the government's forecast of 1.1 percent growth. While Russ
Published 17 May, 2018 12:00am
Japan economy shrinks after two years of growth

Japan economy shrinks after two years of growth

Japan's economy slid into reverse for the first time in two years at the beginning of the year, hit by sluggish consumption and a winter cold snap, but analysts predicted the world's third-largest economy would quickly rebound. The economy contracted by 0
Published 17 May, 2018 12:00am
BoE official apologises for 'menopausal' gaffe

BoE official apologises for 'menopausal' gaffe

A high-ranking official at the Bank of England on Wednesday apologised for describing the British economy as "menopausal", after online comments accused him of "sexism" and "misogyny". Ben Broadbent, deputy governor for monetary policy at the central bank
Published 17 May, 2018 12:00am
Trump denies 'folding' over ZTE in China trade talks

Trump denies 'folding' over ZTE in China trade talks

President Donald Trump on Wednesday denied caving to China over US sanctions on the telecoms equipment maker ZTE. The comments followed Trump's surprise announcement on Sunday that the administration was exploring ways to soften the blow from a ban on exp
Published 17 May, 2018 12:00am
Fraud-hit lender posts largest ever Indian bank loss

Fraud-hit lender posts largest ever Indian bank loss

Shares in fraud-hit Punjab National Bank plunged more than 12 percent on Wednesday after it posted the largest ever quarterly loss for an Indian lender. PNB, the country's second-biggest state-run bank, has been reeling since announcing in February that i
Published 17 May, 2018 12:00am
Philippines lifts ban for Kuwait-bound workers

Philippines lifts ban for Kuwait-bound workers

The Philippines on Wednesday lifted its ban on migrant workers heading to jobs in Kuwait, capping a diplomatic row sparked when a murdered Filipina maid was found in her employer's freezer. The news comes days after Kuwait and the Philippines inked a deal
Published 17 May, 2018 12:00am
Thousands of chemicals unregistered ahead of EU deadline

Thousands of chemicals unregistered ahead of EU deadline

An EU agency on Wednesday warned that the chemicals industry has yet to register thousands of substances two weeks before the bloc's deadline which aims to boost safety regulations. The Helsinki-based European Chemicals Agency (ECHA) said it had so far re
Published 17 May, 2018 12:00am
China's home prices pick up

China's home prices pick up

China's new home prices rose in April with an increasing number of smaller cities driving broader growth, helped by state measures that allowed buyers to get around existing restrictions and economic development prospects in those centres. New home prices
Published 17 May, 2018 12:00am
FTSE 100 nears record high as miners and Micro Focus drive gains

FTSE 100 nears record high as miners and Micro Focus drive gains

Strong results from leading software company Micro Focus and a rally among mining stocks drove Britain's FTSE 100 higher on Wednesday, while Crest Nicholson and mid-cap pub companies suffered sharp losses. The FTSE 100 was up 0.2 percent at at 7,734.20 po
Published 17 May, 2018 12:00am
Most Southeast Asian stocks down

Most Southeast Asian stocks down

Most Southeast Asian stock markets declined on Wednesday, tracking Asian peers, after Pyongyang called off talks with Seoul, throwing a major US-North Korean summit into question. Investor sentiment was also subdued as surging 10-year US Treasury yields s
Published 17 May, 2018 12:00am
Australian shares up, New Zealand index falls

Australian shares up, New Zealand index falls

Australian shares posted modest gains on Wednesday supported by bank stocks and miners, while New Zealand shares fell to their lowest in over a week as a2 Milk shares weighed. The S&P/ASX 200 index rose 0.2 percent, or 9.2 points, to 6,107, adding to gain
Published 17 May, 2018 12:00am
Political risk hits Milan bourse, weak euro backs European shares

Political risk hits Milan bourse, weak euro backs European shares

Italy's two anti-system parties' progress to form a coalition and free up billions of euros for tax cuts and welfare scared off investors and hit the Milan bourse on Wednesday while a weak euro provided support to the broader European market.
Published 17 May, 2018 12:00am
China stocks fall

China stocks fall

China stocks edged lower on Wednesday, as renewed worries over North Korea and surging US bond yields dampened sentiment in Asian markets, while investors await news from a second round of US-China trade talks in Washington this week. The blue-chip CSI300
Published 17 May, 2018 12:00am
Indian shares fall

Indian shares fall

Indian shares fell on Wednesday as doubts over the composition of the next government in the southern state of Karnataka dampened investor risk appetite.
Published 17 May, 2018 12:00am
Retail sales gain add fuel to US bond selloff

Retail sales gain add fuel to US bond selloff

A solid rise in US retail sales in April rocked a teetering US Treasuries market on Tuesday as a wave of selling propelled the benchmark 10-year note's yield through a key technical support, sending it to a near seven-year high.
Published 17 May, 2018 12:00am
Retail sales gain add fuel to US bond selloff

Retail sales gain add fuel to US bond selloff

A solid rise in US retail sales in April rocked a teetering US Treasuries market on Tuesday as a wave of selling propelled the benchmark 10-year note's yield through a key technical support, sending it to a near seven-year high.
Published 17 May, 2018 12:00am
Wall Street drops as Treasury yields surge

Wall Street drops as Treasury yields surge

A surge in US government bond yields to their highest level in almost seven years sent Wall Street shares sliding on Tuesday after strong retail sales data stoked inflation concerns and investors fretted about looming trade talks between the United States
Published 17 May, 2018 12:00am
Sri Lankan shares extend gain

Sri Lankan shares extend gain

Sri Lankan shares rose for a second straight session on Wednesday and closed at a one-week high, with Ceylon Tobacco Co Plc leading the gains.
Published 17 May, 2018 12:00am
Aussie, kiwi ease
Currency

Aussie, kiwi ease

The Australian dollar briefly fell on Wednesday after slower-than-expected wages growth bolstered views that interest rates in the country will stay lower for longer, while its New Zealand cousin stayed near a recent five-month trough. The Australian doll
Published 17 May, 2018 12:00am
Sri Lankan rupee hits new low
Currency

Sri Lankan rupee hits new low

The Sri Lankan rupee hit a record low for a third straight session on Wednesday after the central bank chief said on Friday that the currency would depreciate gradually as dollar outflows surpass inflows. Dollar selling by exporters in late trade helped t
Published 17 May, 2018 12:00am
Sterling slips back towards 2018 lows as dollar surges
Currency

Sterling slips back towards 2018 lows as dollar surges

Sterling fell on Wednesday back towards its weakest level of the year amid fresh worries about Britain's Brexit negotiations, a new leg higher in the dollar's rally and after relatively modest UK wage growth earlier in the week. Sterling fell 0.2 percent
Published 17 May, 2018 12:00am
Yuan recovers against dollar
Currency

Yuan recovers against dollar

China's yuan erased early losses against the dollar and edged up on Wednesday, as traders doubted that the greenback's rally which took the Chinese currency to a one-week low will continue. The dollar hovered near a five-month high, as a surge in the benc
Published 17 May, 2018 12:00am
Asian forex Baht, rupiah suffer biggest losses

Asian forex Baht, rupiah suffer biggest losses

A surge in US bond yields supported the dollar on Wednesday and knocked most Asian currencies, with the Thai baht and the Indonesian rupiah suffering the biggest losses. A solid rise in US consumer spending numbers sent long term Treasury yields surging t
Published 17 May, 2018 12:00am
Argentine peso recovers
Currency

Argentine peso recovers

Argentina's stock market and peso currency climbed on Wednesday after the central bank held a successful auction of its Lebac notes a day earlier, indicating the country had calmed investor jitters at least temporarily. Late on Tuesday, Argentina's centra
Published 17 May, 2018 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Inter-bank buy/sell rates for the taka against the dollar on Wednesday. 83.60-83.60. (Previous 83.60-83.60).
Published 17 May, 2018 12:00am
Dollar at 2018 peak in New York

Dollar at 2018 peak in New York

The US dollar rose against a basket of major currencies on Tuesday to its highest since December, as data showing a pickup in US consumer spending exerted fresh selling pressure on US government bonds and sent the yield on the 10-year Treasury note to its
Published 17 May, 2018 12:00am
Early trade in New York: dollar extends rally to five-month high
Currency

Early trade in New York: dollar extends rally to five-month high

The dollar extended its rally against a basket of currencies on Wednesday to touch a five-month high, supported by relatively strong US economic data in recent days, while the euro was hit by reports that a likely future Italian government would seek debt
Published 17 May, 2018 12:00am
Euro slides below $1.18 in Europe
Currency

Euro slides below $1.18 in Europe

The euro slumped to a five-month low on Wednesday after reports that a likely future Italian government would seek debt forgiveness from European creditors and as the dollar resumed its powerful, month-long rally. The reversal in fortunes for the dollar,
Published 17 May, 2018 12:00am
Dollar hovers near five-month peak in Asia

Dollar hovers near five-month peak in Asia

The dollar hovered near a five-month high against a group of major currencies on Wednesday, as a surge in the benchmark 10-year Treasury yield above 3 percent reignited a rally that had lost steam last week. The dollar index versus a basket of six major p
Published 17 May, 2018 12:00am
Thiem crashes in Rome, Halep demolishes Osaka

Thiem crashes in Rome, Halep demolishes Osaka

Austrian Dominic Thiem, last week's Madrid finalist, crashed at the first hurdle at the ATP and WTA Italian Open Tuesday as top women's seed Simona Halep demolished Japan's Naomi Osaka. Sixth seed Thiem - who inflicted the first clay-court defeat in almos
Published 17 May, 2018 12:00am
Nadal powers into third round

Nadal powers into third round

Rafael Nadal powered his way into the third round of the ATP Italian Open on Wednesday with a straight sets win over Bosnian Damir Dzumhur. The Spaniard won through 6-1, 6-0 in an hour as he targets an eighth title at the Foro Italico and first since 2013
Published 17 May, 2018 12:00am
Pliskova smashes umpire's chair after losing Rome match

Pliskova smashes umpire's chair after losing Rome match

Former world number one Karolina Pliskova smashed the umpire's chair in frustration after she lost to Greece's Maria Sakkari in the second round of the WTA Italian Open on Wednesday. In the third set with the sixth seeded Czech serving 6-3, 3-6, 5-5 (30/3
Published 17 May, 2018 12:00am
Two Sherpas break Everest summit records

Two Sherpas break Everest summit records

Two Nepali Sherpas broke their own world records for the most Everest summits by a man and a woman Wednesday, reaching the world's highest peak for a 22nd and ninth time respectively. Kami Rita Sherpa, a professional guide, and Lhakpa Sherpa, who works in
Published 17 May, 2018 12:00am
Ireland open to Pakistan tour if 'stars align'

Ireland open to Pakistan tour if 'stars align'

Ireland are open to touring Pakistan if "all the stars align," the chief executive of men's Test cricket's newest nation has said. The Irish made their Test debut with a highly creditable five-wicket loss to Pakistan at Malahide Cricket Club, Dublin concl
Published 17 May, 2018 12:00am
Saudi Football Federation suspends referee over bribery

Saudi Football Federation suspends referee over bribery

The Saudi Football Federation have banned referee Fahad al-Mirdasi for life over bribery and urged FIFA to remove him from the pool of referees for the 2018 World Cup in Russia. Mirdasi was suspended after admitting offering to take a bribe to influence t
Published 17 May, 2018 12:00am
Sri Lanka cricket reaps record profits despite shocker year

Sri Lanka cricket reaps record profits despite shocker year

Sri Lanka's cricket board Wednesday announced a profit of $14 million last year, far above all previous records despite one of the worst on-field performances by the islanders in years. The board said it made a net profit of 2.12 billion rupees ($14 milli
Published 17 May, 2018 12:00am
Sarfraz proud of Imam and Babar

Sarfraz proud of Imam and Babar

Pakistan captain Sarfraz Ahmed praised the character of young batsmen Imam-ul-Haq and Babar Azam after they ensured his decision to enforce the follow-on in Ireland's inaugural Test did not backfire. Only three times in the 141-year history of Test cricke
Published 17 May, 2018 12:00am
Alexander-Arnold gets England World Cup call as Hart, Wilshere axed

Alexander-Arnold gets England World Cup call as Hart, Wilshere axed

Trent Alexander-Arnold has been included in England's squad for the World Cup as Joe Hart and Jack Wilshere were the big-name casualties of Gareth Southgate's youth revolution. The England manager confirmed on Wednesday that, as widely anticipated, he had
Published 17 May, 2018 12:00am
England fans warned over flag-waving at World Cup

England fans warned over flag-waving at World Cup

Police chiefs have urged England fans attending the World Cup not to display the flag of St George over fears it will be seen as antagonistic to their Russian hosts.
Published 17 May, 2018 12:00am
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