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Print - 2014-12-08
Tension grips several parts of Faisalabad

Tension grips several parts of Faisalabad

Tension gripped several parts of the industrial city where workers of ruling PML-N also came face-to-face with PTI protestors, shouting angry slogans against each other's party leader. While traders' community and transporters had divided over the issue o
Published 08 Dec, 2014 12:00am
Tension grips several parts of Faisalabad

Tension grips several parts of Faisalabad

Tension gripped several parts of the industrial city where workers of ruling PML-N also came face-to-face with PTI protestors, shouting angry slogans against each other's party leader. While traders' community and transporters had divided over the issue o
Published 08 Dec, 2014 12:00am
Stalled dialogue process: postpone protest, Dar asks Imran

Stalled dialogue process: postpone protest, Dar asks Imran

Federal Finance Minister Ishaq Dar on Sunday linked resumption of stalled talks between government and Pakistan Tehreek-e-Insaf (PTI) with postponement of `Plan-C', through which the latter has warned to shut down the country on December 18. Dar, who is a
Published 08 Dec, 2014 12:00am
Stalled dialogue process: postpone protest, Dar asks Imran

Stalled dialogue process: postpone protest, Dar asks Imran

Federal Finance Minister Ishaq Dar on Sunday linked resumption of stalled talks between government and Pakistan Tehreek-e-Insaf (PTI) with postponement of `Plan-C', through which the latter has warned to shut down the country on December 18. Dar, who is a
Published 08 Dec, 2014 12:00am
Futures spread up by 317 basis points

Futures spread up by 317 basis points

The futures spread rose by 317 basis points to reach 8.60 per cent during the outgoing week ended on December 5, 2014. During the last week, however, trading activity on the futures counter witnessed a declined trend and average daily volume down by 13.6
Published 08 Dec, 2014 12:00am
Futures spread up by 317 basis points

Futures spread up by 317 basis points

The futures spread rose by 317 basis points to reach 8.60 per cent during the outgoing week ended on December 5, 2014. During the last week, however, trading activity on the futures counter witnessed a declined trend and average daily volume down by 13.6
Published 08 Dec, 2014 12:00am
Futures spread up by 317 basis points

Futures spread up by 317 basis points

The futures spread rose by 317 basis points to reach 8.60 per cent during the outgoing week ended on December 5, 2014. During the last week, however, trading activity on the futures counter witnessed a declined trend and average daily volume down by 13.6
Published 08 Dec, 2014 12:00am
Futures spread up by 317 basis points

Futures spread up by 317 basis points

The futures spread rose by 317 basis points to reach 8.60 per cent during the outgoing week ended on December 5, 2014. During the last week, however, trading activity on the futures counter witnessed a declined trend and average daily volume down by 13.6
Published 08 Dec, 2014 12:00am
Bulls rule the roost

Bulls rule the roost

Bullish sentiments prevailed at the Karachi Stock Exchange during the last week following a peaceful political gathering in Islamabad at the weekend and lower CPI inflation.
Published 08 Dec, 2014 12:00am
Bulls rule the roost

Bulls rule the roost

Bullish sentiments prevailed at the Karachi Stock Exchange during the last week following a peaceful political gathering in Islamabad at the weekend and lower CPI inflation.
Published 08 Dec, 2014 12:00am
Bulls rule the roost

Bulls rule the roost

Bullish sentiments prevailed at the Karachi Stock Exchange during the last week following a peaceful political gathering in Islamabad at the weekend and lower CPI inflation.
Published 08 Dec, 2014 12:00am
Iran unveils budget based on lower oil price

Iran unveils budget based on lower oil price

Iran unveiled a draft budget Sunday for next year based on oil prices remaining around $70 per barrel, with President Hassan Rouhani saying the country would become less dependent on crude. With international prices at five-year lows on the back of oversu
Published 08 Dec, 2014 12:00am
Iran unveils budget based on lower oil price

Iran unveils budget based on lower oil price

Iran unveiled a draft budget Sunday for next year based on oil prices remaining around $70 per barrel, with President Hassan Rouhani saying the country would become less dependent on crude. With international prices at five-year lows on the back of oversu
Published 08 Dec, 2014 12:00am
Iran unveils budget based on lower oil price

Iran unveils budget based on lower oil price

Iran unveiled a draft budget Sunday for next year based on oil prices remaining around $70 per barrel, with President Hassan Rouhani saying the country would become less dependent on crude. With international prices at five-year lows on the back of oversu
Published 08 Dec, 2014 12:00am
Privatisation proceeds: government likely to pay billions to IPPs

Privatisation proceeds: government likely to pay billions to IPPs

The government is likely to pay billions of rupees to the protesting Independent Power Producers (IPPs) from the privatisation proceeds, well informed sources told Business Recorder. This decision has been taken at a recent meeting on energy sector
Published 08 Dec, 2014 12:00am
Privatisation proceeds: government likely to pay billions to IPPs

Privatisation proceeds: government likely to pay billions to IPPs

The government is likely to pay billions of rupees to the protesting Independent Power Producers (IPPs) from the privatisation proceeds, well informed sources told Business Recorder. This decision has been taken at a recent meeting on energy sector
Published 08 Dec, 2014 12:00am
Privatisation proceeds: government likely to pay billions to IPPs

Privatisation proceeds: government likely to pay billions to IPPs

The government is likely to pay billions of rupees to the protesting Independent Power Producers (IPPs) from the privatisation proceeds, well informed sources told Business Recorder. This decision has been taken at a recent meeting on energy sector
Published 08 Dec, 2014 12:00am
Chinese minister calls on General Raheel

Chinese minister calls on General Raheel

State councillor and minister for public security of China Guo Shengkun called on Chief of Army Staff General Raheel Sharif in Rawalpindi on Sunday. During the meeting, issues of mutual interest, regional security and measures to enhance bilateral defence
Published 08 Dec, 2014 12:00am
Chinese minister calls on General Raheel

Chinese minister calls on General Raheel

State councillor and minister for public security of China Guo Shengkun called on Chief of Army Staff General Raheel Sharif in Rawalpindi on Sunday. During the meeting, issues of mutual interest, regional security and measures to enhance bilateral defence
Published 08 Dec, 2014 12:00am
Four killed in US drone strike

Four killed in US drone strike

A US drone strike killed at least four militants and wounded two others in Datta Khel district on Sunday, security officials said. The strike took place in the Khar Tangi area of Datta Khel district in the North Waziristan tribal region, where the Pakista
Published 08 Dec, 2014 12:00am
Four killed in US drone strike

Four killed in US drone strike

A US drone strike killed at least four militants and wounded two others in Datta Khel district on Sunday, security officials said. The strike took place in the Khar Tangi area of Datta Khel district in the North Waziristan tribal region, where the Pakista
Published 08 Dec, 2014 12:00am
US hands over senior militant to Pakistan

US hands over senior militant to Pakistan

US troops in Afghanistan said Sunday they had handed over three Pakistani detainees to Islamabad, while a security source said one of them was a senior Pakistani Taliban commander. "Acting on behalf of the United States government, we transferred custody
Published 08 Dec, 2014 12:00am
US hands over senior militant to Pakistan

US hands over senior militant to Pakistan

US troops in Afghanistan said Sunday they had handed over three Pakistani detainees to Islamabad, while a security source said one of them was a senior Pakistani Taliban commander. "Acting on behalf of the United States government, we transferred custody
Published 08 Dec, 2014 12:00am
THE RUPEE: solid gains

THE RUPEE: solid gains

The rupee, on the back of smooth supply of dollar, recovered sharply on the local currency market during the week, ended on November 6, 2014. In the interbank market, the rupee improved with strong gains of 73 paisa versus the dollar for buying and sellin
Published 08 Dec, 2014 12:00am
THE RUPEE: solid gains

THE RUPEE: solid gains

The rupee, on the back of smooth supply of dollar, recovered sharply on the local currency market during the week, ended on November 6, 2014. In the interbank market, the rupee improved with strong gains of 73 paisa versus the dollar for buying and sellin
Published 08 Dec, 2014 12:00am
The Weather

The Weather

The weather report on Sunday (December 07, 2014) and the forecast for Monday (December 08, 2014).
Published 08 Dec, 2014 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (December 1 to 5, 2014).
Published 08 Dec, 2014 12:00am
Purchase of sugar cane by mills at fixed rate to be ensured: minister

Purchase of sugar cane by mills at fixed rate to be ensured: minister

Provincial Minister for Agriculture, Dr Farrukh Javed, has said the procurement of sugar cane by sugar mills from growers of Punjab at fixed rates will be ensured at any cost. He said that the process of purchase of sugar cane by sugar mills from farmers
Published 08 Dec, 2014 12:00am
Post-POL price cut situation

Post-POL price cut situation

Finance Minister Ishaq Dar has raised a very legitimate question: Why the prices of various items are not falling even after a highly significant reduction in the prices of POL products? Speaking at a seminar organised by Competition Commission of Pakista
Published 08 Dec, 2014 12:00am
Bank on 'Super Mario' to give Europe a monetary jolt

Bank on 'Super Mario' to give Europe a monetary jolt

From his office on the 41st floor of the gleaming new European Central Bank headquarters, Mario Draghi's view stretches far beyond Frankfurt's high-rise financial centre and he doesn't like what he sees. The darkening outlook for the euro zone's flat and
Published 08 Dec, 2014 12:00am
Divestment versus privatisation

Divestment versus privatisation

Government stalwarts are at great pains to distinguish between divestment and privatisation. The reason: Senator Raza Rabbani, Pakistan People's Party (PPP) parliamentarian, has repeatedly stated that his party will not support privatisation - a party who
Published 08 Dec, 2014 12:00am
A CEC at last

A CEC at last

A decision the parliamentary leadership should have made within 16 days took it as many as 16 months, the redeeming feature of the inordinate delay being that at long last the Election Commission of Pakistan finally has its permanent head. The parliamenta
Published 08 Dec, 2014 12:00am
Exchange companies and their franchises

Exchange companies and their franchises

The State Bank of Pakistan (SBP) has informed the exchange companies that the Central Bank will not be issuing permission to them in response to their applications for giving franchise to a third party. The central bank fears that exchange companies are f
Published 08 Dec, 2014 12:00am
Prison break frees 200 inmates in central Nigeria

Prison break frees 200 inmates in central Nigeria

Gunmen broke into a prison in the central Nigerian city of Minna, freeing around 200 inmates, a police spokesman and security sources said. The sources said the gunmen stormed the facility late on Saturday in Niger state, near to the capital Abuja. Islami
Published 08 Dec, 2014 12:00am
Egypt sentences four Brotherhood members to death

Egypt sentences four Brotherhood members to death

An Egyptian court on Sunday sentenced to death four members of the blacklisted Muslim Brotherhood over the killing of protesters who stormed the group's Cairo headquarters in June last year. A crowd of angry protesters stormed and torched the headquarters
Published 08 Dec, 2014 12:00am
Six Guantanamo detainees sent to Uruguay

Six Guantanamo detainees sent to Uruguay

Six men detained at Guantanamo for more than a decade were transferred Sunday to Uruguay, whose leftist leader made the "humanitarian" gesture to help President Barack Obama fulfil his long-delayed promise to close the US military prison. The Pentagon sai
Published 08 Dec, 2014 12:00am
Republican win in runoff US Senate vote boosts majority

Republican win in runoff US Senate vote boosts majority

US Senator Mary Landrieu, one of the last standing elected Deep South Democrats, lost her bid Saturday for re-election in Louisiana, further clinching Republicans' dominance in the Senate following mid-term elections last month. Her loss to Republican riv
Published 08 Dec, 2014 12:00am
Merkel blasts Russia as bloody Ukraine clashes rage

Merkel blasts Russia as bloody Ukraine clashes rage

Ukraine said Sunday that eight more civilians and two soldiers had been killed in fighting with pro-Russian insurgents as Germany accused the Kremlin of meddling in eastern European states' drive toward the EU. The latest casualties across the Russian-spe
Published 08 Dec, 2014 12:00am
US plane in emergency landing in Rome

US plane in emergency landing in Rome

A US Airways plane made an emergency landing in Rome on Saturday after two passengers and 11 members of the crew were taken ill. The plane, which set off from Tel Aviv in Israel for Philadelphia in the United States, landed at the Fiumicino airport in the
Published 08 Dec, 2014 12:00am
Tenth Sierra Leone doctor dies of Ebola

Tenth Sierra Leone doctor dies of Ebola

A tenth doctor has died after contracting Ebola in Sierra Leone, the government said on Sunday, increasing alarm over the safety of medics battling the deadly epidemic. Aiah Solomon Konoyima's death late on Saturday at an Ebola treatment unit in Hastings,
Published 08 Dec, 2014 12:00am
26 foreigners among 135 arrested for 'terrorism' in Saudi Arabia

26 foreigners among 135 arrested for 'terrorism' in Saudi Arabia

Saudi Arabia said Sunday it has arrested 135 suspects for 'terrorism' offences, after the kingdom's participation in air strikes against Islamic State group extremists raised concerns about possible retaliation. The suspects include 26 foreign nationals,
Published 08 Dec, 2014 12:00am
US protests turn violent after New York man killed by police buried

US protests turn violent after New York man killed by police buried

Police clashed with protesters in California on the fourth night of demonstrations across the United States against recent killings of African American suspects by white police in the United States. Protesters in Berkeley, California, threw bricks, rocks
Published 08 Dec, 2014 12:00am
China's Long March puts satellite in orbit on 200th launch

China's Long March puts satellite in orbit on 200th launch

China Sunday put into orbit a satellite jointly developed with Brazil after the 200th launch of its Long March rocket family, state media reported. The Long March-4B rocket blasted off from the Taiyuan satellite launch centre in the northern province of S
Published 08 Dec, 2014 12:00am
Paris mayor wants limits on cars, end to diesel

Paris mayor wants limits on cars, end to diesel

The mayor of Paris on Sunday laid out a plan to limit cars in the city's historic centre and said she wanted to ban diesel vehicles by 2020. "In the four central districts, apart from bikes, buses and taxis, the only vehicles allowed will be residents' ca
Published 08 Dec, 2014 12:00am
Record-breaking Ronaldo leads Real to new high

Record-breaking Ronaldo leads Real to new high

Cristiano Ronaldo netted a record 23rd hat-trick in La Liga and his 200th goal in the Spanish top flight as Real Madrid equalled a Spanish record of 18 consecutive wins in all competitions with a 3-0 win over Celta Vigo on Saturday. Ronaldo passes Telmo Z
Published 08 Dec, 2014 12:00am
Sangakkara stars in Sri Lanka's win

Sangakkara stars in Sri Lanka's win

Kumar Sangakkara hit 86 as Sri Lanka squeezed past England with six wickets and two balls to spare in the fourth one-day international Sunday to take a 3-1 lead in the seven-match series. James Taylor missed a maiden one-day century by 10 runs as England,
Published 08 Dec, 2014 12:00am
Carroll double fires West Ham up to third

Carroll double fires West Ham up to third

Andy Carroll scored his first goals since March as West Ham United came from behind to beat Swansea City 3-1 on Sunday and claim third place in the Premier League. Wilfried Bony put Swansea ahead against the run of play, but Carroll, who missed the first
Published 08 Dec, 2014 12:00am
Federer hails new IPTL as 'crazy but fun'

Federer hails new IPTL as 'crazy but fun'

World number two Roger Federer hailed the new International Premier Tennis League as "crazy but fun" after sauntering through his debut matches in the Indian capital on Sunday. A laughing and joking Federer downed Czech world number seven Tomas Berdych in
Published 08 Dec, 2014 12:00am
Younis Khan happy to be back in one-day fold

Younis Khan happy to be back in one-day fold

Veteran Pakistan batsman Younis Khan on Sunday expressed his delight at being recalled to the one-day team which raised hopes of a final campaign in next year's World Cup being co-hosted by Australia and New Zealand. The 37-year-old was recalled to the on
Published 08 Dec, 2014 12:00am
AFC bans North Korean coach

AFC bans North Korean coach

North Korea coach Yun Jong-Su has been banned for a year for a furious rant at the Asian Games in October, severely denting the team's preparations for next month's Asian Cup. The Asian Football Confederation (AFC) threw the book at Yun after he launched
Published 08 Dec, 2014 12:00am
Pakistan win Handball Trophy

Pakistan win Handball Trophy

Pakistan has won the crown of men's International Handball Trophy by defeating Yemen at the University of Agriculture Faisalabad. Pakistan carved out 39-22 victory against Yemen. In the women section, Bangladesh defeated Pakistan by 33-23 goals.
Published 08 Dec, 2014 12:00am
Samsung to slash number of smartphone models

Samsung to slash number of smartphone models

Samsung Electronics has announced plans to slash the number of smartphone models it issues next year by up to one-third as it tries to cut prices in the face of intense Chinese competition. The strategy, confirmed by a company spokesman Tuesday, was unvei
Published 08 Dec, 2014 12:00am
Teens turn to text messages for AIDS advice in Zambia

Teens turn to text messages for AIDS advice in Zambia

The questions teenagers ask about HIV are brutally honest, anonymous - and sent in 160 characters or less over mobile phone text messages. At U-Report, a Zambian HIV advice organisation, thousands of bite-sized questions come through every day. One asks,
Published 08 Dec, 2014 12:00am
Intel, Luxottica team up for smart eyewear

Intel, Luxottica team up for smart eyewear

US tech giant Intel said Wednesday it was joining forces with Italy's Luxottica to develop connected eyewear, with the first products due in 2015. "The ultimate goal is to help pioneer that change and deliver smart, fashion-forward products that are meani
Published 08 Dec, 2014 12:00am
New York police to wear body cameras

New York police to wear body cameras

About three dozen police officers will be fitted with body cameras in New York by this weekend, as part of a three-month pilot program. The tiny, flat cameras that look like pagers can be clipped on a vest, similar to a tie-clip microphone, and film event
Published 08 Dec, 2014 12:00am
Top China official urges stronger Internet management

Top China official urges stronger Internet management

A top Beijing official called for stronger management of the Internet Wednesday at a government-organised conference condemned by rights campaigners as a Chinese attempt to promote its online controls globally. China, which censors online content it deems
Published 08 Dec, 2014 12:00am
WiFi hubs to replace New York pay phones

WiFi hubs to replace New York pay phones

Thousands of high-tech terminals offering free WiFi and other services will soon replace New York's remaining fleet of seldom-used pay phones, the city mayor said Monday. Mayor Bill de Blasio called the "LinkNYC" system "the fastest and largest municipal
Published 08 Dec, 2014 12:00am
Archive brings hundreds of arcade classics to your computer

Archive brings hundreds of arcade classics to your computer

Missing those days you whiled away as a youth playing Pac-Man or Street Fighter 2 at the arcade? A collection of old games online can now let you relive those moments, all from your own computer. The Internet Arcade has 901 titles from the 1970s through t
Published 08 Dec, 2014 12:00am
Android 5.0 woes: Memory encryption can slow smartphone

Android 5.0 woes: Memory encryption can slow smartphone

Users of the newest Android version 5.0 (Lollipop) might have to make a choice between security and speed. Anyone who opts for Full Disk Encryption (FDE) is going to have to tolerate a phone that is significantly slower reading and storing data, according
Published 08 Dec, 2014 12:00am
Twitter cracks down on harassment & abuse

Twitter cracks down on harassment & abuse

Twitter is boosting safeguards to prevent its network being used for harassment and abuse, it said on Tuesday. The online messaging service said it was improving its process for reporting such behaviour so as to make it more mobile friendly and require le
Published 08 Dec, 2014 12:00am
iPhone allows quick switch to classic website look

iPhone allows quick switch to classic website look

Websites redesigned for smartphones can be clunky or leave out vital information you need, while some users just prefer the desktop version to which they've grown accustomed over the years. Apple is catering to that impulse. Since the release of Version 8
Published 08 Dec, 2014 12:00am
Google Sky Map brings the night sky to your handheld

Google Sky Map brings the night sky to your handheld

It's no easy business, trying to pick out a single star from the night sky. Which is why astronomy apps do the work for you, with your smartphone held over your head. One example is Google Sky Map, a free Android app. It combines information about your lo
Published 08 Dec, 2014 12:00am
Remote support eases senior smartphone worries from afar

Remote support eases senior smartphone worries from afar

A new smartphone can be daunting for a senior citizen, which is why so many are grateful for services that let a friend or relative access the device remotely to install apps or get settings right. It's best to only allow a limited number of people access
Published 08 Dec, 2014 12:00am
Mirwaiz dares Modi to speak on rights violations in IHK

Mirwaiz dares Modi to speak on rights violations in IHK

Chairman of Hurriyat Conference (M) Mirwaiz Umar Farooq has accused New Delhi of camouflaging ground realities in held Kashmir by creating hype of election and dared Prime Minister Narendra Modi to speak on human rights abuses committed allegedly by secur
Published 08 Dec, 2014 12:00am
Pakistan aiming for jet boost to defence exports

Pakistan aiming for jet boost to defence exports

A revamped version of Pakistan's JF-17 jet fighter took centre stage at a defence exhibition in Karachi this week as the restive nuclear-armed state looks to boost its role as a military exporter on the world stage. Pakistan's large, well-funded military
Published 08 Dec, 2014 12:00am
LUMHS to hold four-day medical camp at Tharparkar

LUMHS to hold four-day medical camp at Tharparkar

On the directives of the Governor Sindh and Chief Minister Sindh, the Vice Chancellor Liaqat University of Medical & Health Sciences Jamshoro Professor Noshad A. Shaikh has announced to arrange a four day Medical Camp to serve the ailing community of Thar
Published 08 Dec, 2014 12:00am
SMEDA distributes cheques for Rs 19.86 million among FATA SMEs

SMEDA distributes cheques for Rs 19.86 million among FATA SMEs

Small and Medium Enterprise Development Authority (SMEDA) distributed grants' cheques of Rs 19.863 million in 60 crisis-hit SMEs of the Kurram Agency under Economic Revitalisation of Khyber Pakhtunkhwa and FATA (ERKF).
Published 08 Dec, 2014 12:00am
PEW demands national debate on KBD

PEW demands national debate on KBD

The Pakistan Economy Watch (PEW) on Sunday said the Kalabagh dam (KBD) is one of the most unfortunate mega projects in the history of Pakistan. It has suffered setbacks owing to political interference, especially by the politicians of two provinces who co
Published 08 Dec, 2014 12:00am
Nine injured in clash

Nine injured in clash

As many as nine people were injured as two groups clashed over property dispute here on Sunday. Police said that armed accused belonging to two groups hailing from Awan Goth near Daharki in district Ghotki which were in rivalry over ownership of a plot ex
Published 08 Dec, 2014 12:00am
Balochistan government: efforts on to end differences among allies: Saad

Balochistan government: efforts on to end differences among allies: Saad

Federal Minister for Railways Khawaja Saad Rafique has said that the PML (N) handed over power to the nationalists in Balochistan despite having majority in Balochistan Assembly. Talking to newsmen here last night, he said they have arrived Quetta on the
Published 08 Dec, 2014 12:00am
Building new dams: PML-N senator vows to get Article 161 amended

Building new dams: PML-N senator vows to get Article 161 amended

Pakistan Muslim League-N Senator Syed Zafar Ali Shah on Sunday said he will try his best to get Article 161 of the Constitution amended so that dams could be built settling energy crisis and water shortages. He said this while talking to veteran social an
Published 08 Dec, 2014 12:00am
Seminar on 'Engaging Youth in De-Radicalisation of FATA & KP' held

Seminar on 'Engaging Youth in De-Radicalisation of FATA & KP' held

The Institute of Peace and Conflict Studies (IPCS), University of Peshawar, in collaboration with Department of Home and Tribal Affairs organized a day-long seminar on "Engaging Youth in De-Radicalization of FATA and Khyber Pakhtunkhwa" at Teaching Commun
Published 08 Dec, 2014 12:00am
Call for extension of KP RTI Act 2013 to PATA

Call for extension of KP RTI Act 2013 to PATA

Centre for Governance and Public Accountability (CGPA) has demanded extension of Khyber Pakhtunkhwa Right to Information (RTI) Act 2013 to Provincially Administered Tribal Areas (PATA). The law has been enacted in October 2013. After more than one year of
Published 08 Dec, 2014 12:00am
Sindhi Ajrak, Topi Day celebrated in Houston

Sindhi Ajrak, Topi Day celebrated in Houston

Cultural Institute Houston, Texas celebrated Sindi Topi Ajrak Day with enthusiasm. People of all ages from Sindh and other provinces attended the event. The Sindhi families wore Ajraks and Sindhi caps (Topi). They also presented gifts of Sindhi Topi and A
Published 08 Dec, 2014 12:00am
African insurers in vogue as incomes rise

African insurers in vogue as incomes rise

A growing middle class in sub-Saharan Africa is enticing European and South African insurers to buy local firms focusing mainly on life insurance and pensions, in the face of mature markets and strong competition at home. Rapid economic growth in countrie
Published 08 Dec, 2014 12:00am
BP to wield jobs axe as oil price slump takes toll

BP to wield jobs axe as oil price slump takes toll

BP is to axe middle managers and could freeze projects as it grapples with the plummeting oil price, The Sunday Times reported, citing finance director Brian Gilvary. "What you'll see with this simplification plan is that headcounts are starting to come d
Published 08 Dec, 2014 12:00am
Latam countries launch plan to store carbon, fight global warming

Latam countries launch plan to store carbon, fight global warming

Eight Latin American countries on Sunday announced an initiative to restore 20 million hectares of degraded forest and farmland, seeking to use this land to store carbon in natural vegetation and cut emissions that cause global warming.
Published 08 Dec, 2014 12:00am
Lufthansa board blocks plan for convertible bond

Lufthansa board blocks plan for convertible bond

Lufthansa's supervisory board has blocked management plans to issue a convertible bond to fund the purchase of more planes, German magazine Der Spiegel reported on Sunday, without citing sources.
Published 08 Dec, 2014 12:00am
Yemen October foreign reserves lowest since June

Yemen October foreign reserves lowest since June

Yemen's gross foreign currency reserves slipped to $4.9 billion in October, the lowest level since June, as oil exports fell, exposing the country's fragile public finances, central bank data showed on Sunday. A plunge in oil prices and frequent attacks o
Published 08 Dec, 2014 12:00am
US oil output growth to slow as global prices sink: Obama adviser

US oil output growth to slow as global prices sink: Obama adviser

The United States will continue to boost oil production but falling global prices will slow down the pace, President Barack Obama's chief economic adviser said on Sunday. "Even at a lower price of oil we are going to continue to see an increase in the pro
Published 08 Dec, 2014 12:00am
International lending to China soars in 2014: BIS

International lending to China soars in 2014: BIS

China has become the largest emerging market destination for international bank lending, accounting for more than a quarter of cross-border claims on all emerging market economies, a central banking report shows. Cross-border claims on China increased by
Published 08 Dec, 2014 12:00am
BIS warns of market fragility despite bullish mood

BIS warns of market fragility despite bullish mood

The Bank for International Settlements warned Sunday that global financial markets appeared to be increasingly fragile despite bullish sentiment. The Basel-based institution, considered the central bank for central banks, also voiced concern in its quarte
Published 08 Dec, 2014 12:00am
Germany to end credit guarantees for exports to Greece

Germany to end credit guarantees for exports to Greece

The German government will stop issuing credit guarantees for exports to Greece at the end of the year because private insurers have signalled they are ready to cover the risks of non-payment themselves. Germany began offering so-called Hermes guarantees
Published 08 Dec, 2014 12:00am
Italy hits back at Merkel over reform dig

Italy hits back at Merkel over reform dig

Italy reacted angrily on Sunday to demands from Chancellor Angela Merkel that it enact more reforms to bring its 2015 budget in line with EU fiscal rules, saying the German leader's time would be better spent resolving economic problems at home. In an int
Published 08 Dec, 2014 12:00am
EU investment plan to boost digital technology

EU investment plan to boost digital technology

The European Commission's investment drive to boost the region's economy will include a double-digit billion euros of spending on digital technology, EU Digital Economy Commissioner Guenther Oettinger told a German magazine. He said talks with telecom gro
Published 08 Dec, 2014 12:00am
France chided ahead of controversial reform unveiling

France chided ahead of controversial reform unveiling

Crisis-hit France was urged Sunday by Germany and its own Nobel prize-winning economist to reform, days before Paris prepares to unveil a controversial set of measures to unblock its stagnating economy.
Published 08 Dec, 2014 12:00am
Moscow metro's Wi-Fi revolution as city gets wired

Moscow metro's Wi-Fi revolution as city gets wired

Soviet dictator Joseph Stalin built Moscow's spectacularly beautiful metro as an example to the world, a symbol of "radiant Communist future". Now under strongman Vladimir Putin there are plans to make it the most connected in the world, with free, fast W
Published 08 Dec, 2014 12:00am
Bangladesh to buy 60,000 tonnes of gasoil from Turkey

Bangladesh to buy 60,000 tonnes of gasoil from Turkey

Turkish Petroleum International Company is to supply Bangladesh with 60,000 tonnes of gasoil in 2015 for the first time to meet growing demand for fuel, the chairman of the state Bangladesh Petroleum Corp (BPC) said on Sunday. Last month, BPC concluded ne
Published 08 Dec, 2014 12:00am
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