News Archives for Print - 2015-02-02

The Weather

The weather report on Sunday (February 01, 2015) and the forecast for Monday (February 02, 2015).

Published 02 Feb, 2015 12:00am

Returns on Profit and Loss Sharing Investment Bank Accounts (January to June 2014)

Comparative table of returns being given banks on their Profit and Loss Sharing Investment Accounts and Term Deposits.

Published 02 Feb, 2015 12:00am

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (January 26 to 30, 2015).

Published 02 Feb, 2015 12:00am

Aaj TV - Monday's schedule

All timings are in PST (Pakistan Standard Time).

Published 02 Feb, 2015 12:00am

Accreditation councils, HEC agree to enhance coordination for ensuring quality

Chairman Higher Education Commission (HEC), Professor Dr Mukhtar Ahmed chaired the fifth meeting of country's Accreditation Councils and hoped that close coordination among these councils and HEC will ensure quality at all levels of the higher education s

Published 02 Feb, 2015 12:00am

Development through empowerment: the AKDN way

Following the National Dissemination Seminar on Aga Khan Development Network's (AKDN) Water and Sanitation Extension Programme (WASEP) in Gilgit-Baltistan and Chitral, BR Research sat down with Hafiz Sherali, the Chair of the Aga Khan Planning and Buildin

Published 02 Feb, 2015 12:00am

Development through empowerment: the AKDN way

Following the National Dissemination Seminar on Aga Khan Development Network's (AKDN) Water and Sanitation Extension Programme (WASEP) in Gilgit-Baltistan and Chitral, BR Research sat down with Hafiz Sherali, the Chair of the Aga Khan Planning and Buildin

Published 02 Feb, 2015 12:00am

POL products: raise in GST rate

Apropos 'POL products: Prices slashed but GST rate raised' carried by Business Recorder yesterday, how ironic it is that the government has raised the rate of General Sales Tax on petroleum products from existing 22 percent to 27 percent.

Published 02 Feb, 2015 12:00am

Hungary under pressure to pick sides in Russia-EU standoff

Hungary's maverick Prime Minister Viktor Orban has spent the past year straddling the divide between Russia and his European Union counterparts on the crisis in Ukraine. But he may soon be forced to pick sides.

Published 02 Feb, 2015 12:00am

Islamic finance looks to outgrow bad habits as it expands

After a year of landmark deals which are opening new markets for Islamic finance, the industry is under fresh pressure to address some of its shortcomings and prove that it is not just an imitation of conventional finance.

Published 02 Feb, 2015 12:00am

Zardari vs the Sharifs

The general public is increasingly being inconvenienced, which to many is a mild word compared to the actual state of affairs, as a direct offshoot of poor performance of nearly all key federal ministries. And analysts have begun to point out the fact tha

Published 02 Feb, 2015 12:00am

LG polls in Balochistan: A laudable achievement

Balochistan achieved the distinction on Wednesday of being the only province to have completed local government elections. Creditably for him, proving his commitment to the principle of empowering people at the gross roots level, Chief Minister Dr Abdul M

Published 02 Feb, 2015 12:00am

SBP's advice to commercial banks

Presiding over a meeting of the heads of all commercial banks and development finance institutions (DFIs) on 26th January, 2015, Governor, SBP, Ashraf Mahmood Wathra, took stock of the overall performance of the financial system and offered advice on impo

Published 02 Feb, 2015 12:00am

Some charities to refuse money from US financier accused in sex case

Some charities that have received money from US financier Jeffrey Epstein said they are reviewing their relationships with him or will decline to accept any future gifts from him in the wake of recent allegations he forced an underage girl to have sex wit

Published 02 Feb, 2015 12:00am

Boko Haram attacks north-east Nigeria's main city

Boko Haram insurgents attacked the outskirts of Maiduguri in north-east Nigeria on Sunday, their second assault in a week on a city they hope to make the capital of a breakaway Islamist state. At least eight people were killed as the insurgents fought gun

Published 02 Feb, 2015 12:00am

Pro-democracy protesters back in Hong Kong, no violence

Thousands of pro-democracy protesters returned to the streets of Hong Kong on Sunday in the first large-scale rally since demonstrations rocked the global financial hub late last year. Some 2,000 police flanked an estimated 12,000 protesters marching on t

Published 02 Feb, 2015 12:00am

South Africa's nuclear power plant loses half its capacity

A technical fault at South Africa's only nuclear power plant has cut close to 1,000 MW of electricity from the already strained power grid and is potentially exposing Africa's most advanced economy to more rolling black-outs. "Unit 1 of the Koeberg power

Published 02 Feb, 2015 12:00am

International campaigners urge UK to allow 'three-parent' IVF babies

Campaigners urged British lawmakers on Sunday to seize a chance to become the first in the world to allow three-way fertility treatments to families who want to avoid passing on incurable diseases to their children.

Published 02 Feb, 2015 12:00am

Death toll mounts in Ukraine fighting

Thirteen government soldiers and at least as many civilians have been killed in the past 24 hours in eastern Ukraine's separatist conflict after the collapse of peace talks, Kiev authorities said. Hopes of easing the situation evaporated on Saturday with

Published 02 Feb, 2015 12:00am

Mali armed groups clash near Timbuktu

Malian rebels fought pro-government militia in the northern village of Kano overnight, three security sources said, firing rockets and briefly kidnapping at least 20 people in the latest spike of violence between armed groups. Two years after a French mil

Published 02 Feb, 2015 12:00am

Bombs at luxury mall rattle tense Bangkok

Two pipe bombs exploded outside a luxury shopping mall in Bangkok on Sunday in an attack which Thai police said was aimed at raising tension in a city living under martial law. The bombs caused little damage but were the first to shake the Thai capital si

Published 02 Feb, 2015 12:00am

'KP frames laws to promote, protect breastfeeding'

The provincial government of Khyber Pakhtunkhwa has given legal cover for promotion and protecting breastfeeding to ensure safe and adequate nutrition for infants and young children has framed laws for regulating of the marketing and promotion of designat

Published 02 Feb, 2015 12:00am

Rallies condemn Shikarpur blast

The Majlis Wahdatul Muslimeen (MWM), Jaffria Alliance and Shia Ulema Council (SUC), Imamia Students Organisation (ISO) and civil society organisation Muttahida Shehri Mahaz on Sunday organised three rallies to condemn the suicide attack on the worshippers

Published 02 Feb, 2015 12:00am

Sindhi Mushaira held at SU

A Sindhi Mushaira at the institute of Sindhology, University of Sindh, provided an entertaining evening to teachers and students. In-charge Director of Sindhology Professor Saeed Mangi on the occasion said that he was trying to provide some sort of entert

Published 02 Feb, 2015 12:00am

KP to hold LB polls in May: KP CM

KP Chief Minister Pervez Khattak has said that the provincial government is going to hold local bodies' polls in the month of May this year.

Published 02 Feb, 2015 12:00am

POA honours orthopaedic surgeon

Pakistan Orthopaedic Association (POA) has honoured consultant Orthopaedic Surgeon, Dr Shabir Awan of Maroof International Hospital Islamabad. The "Research & Publication Award" was conferred on Consultant Orthopaedic in 28th International Pak Orthicon Co

Published 02 Feb, 2015 12:00am

SU, IIU sign MoU to promote research, higher education

Sindh University (SU) on Sunday signed a memorandum of understanding (MoU) with International Islamic University (IIU) Islamabad, for the promotion of research and higher education, particularly in the field of education, law, science and technology. The

Published 02 Feb, 2015 12:00am

Two ASWJ activists among four dead in Karachi

At least four people, including the father and the son, were killed in separate incidents of violence in various parts of the Karachi city on Sunday. According to police and rescue sources, Akhtar Hussain, 50, and his son Athar Hussain, 30, were shot and

Published 02 Feb, 2015 12:00am

Protest sit-ins, rallies staged

Sit-ins and protest rallies were also held on Sunday against Shikarpur Incident where various parties and associations protested at different places in Hyderabad. Shia Ulema Council (SUC) staged a protest and mourning procession against Shikarpur incident

Published 02 Feb, 2015 12:00am

ISO stages demonstration in Peshawar

Condemning attack on Imambargah in Shikarpur, members of Imamia Students Organisation (ISO) staged a protest demonstration outside Peshawar Press Club here on Sunday. Led by ISO education secretary, Naveed Anjum, and Information Secretary Jan Ali Turi, a

Published 02 Feb, 2015 12:00am

Shikarpur Imambargah carnage: Mourning Day observed across country

On the call of the chief patron of Supreme Shia Ulema Board and chief of Tehreek Nifaz-e-Fiqah Jafariya (TNFJ), Agha Syed Hamid Ali Shah Moosavi, the day of mourning was observed across the country and protests held in all major cities of Pakistan to cond

Published 02 Feb, 2015 12:00am

Prehistoric skull a key 'piece of the puzzle' in story of humanity

A partial skull retrieved from a cave in northern Israel is shedding light on a pivotal juncture in early human history when our species was trekking out of Africa to populate other parts of the world and encountered our close cousins the Neanderthals. Sc

Published 02 Feb, 2015 12:00am

Australia's temp rising faster than rest of the world

Australia faced a rise in temperature of potentially more than 5 degrees Celsius (9 degrees Fahrenheit) by the end of the century, an increase that would outpace global warming world-wide, the country's national science agency said on January 27.

Published 02 Feb, 2015 12:00am

Planning may start in brain's amygdala: study

Thinking of a new career? Buying a home? Have you consulted your amygdala? These almond-shaped clusters of neurons deep in the brain may play a vital part in long-term planning, said a study published on January 26.

Published 02 Feb, 2015 12:00am

Urban heatwaves getting worse, study confirms

Urban heatwaves have become more frequent over the last 40 years, scientists reported on January 30. A weather database of cities around the world reveals "significant" increases in periods of extremely hot days and falls in the number of cold days, they

Published 02 Feb, 2015 12:00am

Storms like US blizzard may get stronger but less frequent

Large storms like the blizzard that battered New England last week may become more severe but less frequent as the Earth's climate changes, scientists said on January 29. The Canadian-led study noted that warmer air can hold more moisture, meaning more fu

Published 02 Feb, 2015 12:00am

'Ebola vaccine is safe'

Preliminary results from a clinical trial on an experimental Ebola vaccine developed by GlaxoSmithKline and the US National Institutes of Health suggest it is safe for use, researchers said on January 28. The vaccine also generates an immune response to E

Published 02 Feb, 2015 12:00am

Crossword puzzles won't help to prevent dementia

Doing crossword puzzles won't help to prevent the memory loss associated with dementia such as Alzheimer's disease, warns a German doctor. Dr Joerg Schulz, director of the Clinic for Neurology at Aachen University Hospital, said the puzzles didn't exercis

Published 02 Feb, 2015 12:00am

More weather tantrums predicted for 'La Nina'

Nina, a weather phenomenon that periodically causes devastating droughts and storms, will likely occur more frequently and more violently this century as a result of global warming, researchers said on January 26. An exceptionally harsh La Nina like the 1

Published 02 Feb, 2015 12:00am

Cubans look to US detente for better Web access

Alfredo Castellano travels half an hour to Havana twice a week to write emails in a computer centre with a Fidel Castro poster outside and aging machines inside. Like most Cubans, he lacks Internet access at home, but many hope this will change after the

Published 02 Feb, 2015 12:00am

Linux makers release patch to thwart new 'Ghost' cyber threat

Red Hat Inc and other makers of the widely used Linux operating system for business computers updated their software on Tuesday to thwart a serious new cyber threat they warned could allow hackers to gain remote control of their systems.

Published 02 Feb, 2015 12:00am

Power adapter making odd noises? Flip it upside down

You expect a power adapter to plug in to a wall socket and operate silently forever, but some of them buzz, beep, click or make a variety of other irritating noises. There's often an easy, non-invasive fix: reversing the adapter's polarity, which sounds c

Published 02 Feb, 2015 12:00am

Google robot car fleet uses German technology

German technology plays a key part in a fleet of 150 pod-like robot cars which internet giant Google has ordered for extensive field trials. The autonomous runabouts will be built by the firm of Roush near Detroit in the heart of traditional US car-buildi

Published 02 Feb, 2015 12:00am

Google super-fast US Internet service spreads

Google's super-fast Internet service - up to 100 times quicker than basic broadband - is heading for four more US metropolitan areas as the technology titan ramps up pressure on cable service giants. A Google Fiber program launched nearly five years ago w

Published 02 Feb, 2015 12:00am

Apple ties with Samsung as world's top smartphone vendor

Apple caught up with Samsung as the world's biggest smartphone vendor in the fourth quarter of 2014, thanks to booming sales of its new iPhone 6, market researcher Strategy Analytics said Thursday. Apple reported a record net profit of $18 billion in the

Published 02 Feb, 2015 12:00am

Tech sector hot, but no bubble: analyst study

Dealmaking in the tech sector jumped last year to the highest levels since the dot-com boom, a consultancy report said Tuesday. But the Ernst and Young report said the sector is not in "bubble" territory and that the vast majority of the deals over the pa

Published 02 Feb, 2015 12:00am

Messaging app hides pictures in plain site on Facebook

Snoop-thwarting messaging application Wickr on Tuesday began letting Apple mobile gadget users hide pictures in plain site on their Facebook pages. Wickr Timed Feed (WTF) hosts pictures in a way that keeps them in the control of those doing the posting, a

Published 02 Feb, 2015 12:00am

Many SSD drives are longer-lived than advertised

Any solid state drive is going to lose some of its zip as it gets older, but just about any of them will last longer than the life-span advertised by the manufacturer, a test by technology portal Techreport.com indicates.

Published 02 Feb, 2015 12:00am

Facebook unveils 'lite' app for emerging markets

Facebook said Monday it is testing a lightweight version of its mobile app for mobile phones with poor-quality Internet connections in emerging markets. A spokesman told AFP in an email that the "Facebook Lite" Android app is designed "for people on 2G (s

Published 02 Feb, 2015 12:00am

Get satellite images to smarten up your smartphone

Whether you like deserts, harbours, coasts, mountains or endless ice, there's a satellite image out there that will look good as the background for your computer screen. But don't limit yourself. Such images can also jazz up any smartphone. At least that'

Published 02 Feb, 2015 12:00am

Shoot 360-degree panorama shots with a Photo Sphere

Most cameras can't record images the way you would see them with your own eyes. But, you can get closer to a lifelike image thanks to the panorama function on some smartphones. And then there's Google's Photo Sphere app, which goes a step further.

Published 02 Feb, 2015 12:00am

Siemens profit falls as price pressures hurt energy

Siemens missed first-quarter profit forecasts and announced management overhauls at its power and gas and healthcare divisions, putting pressure on chief executive Joe Kaeser ahead of a shareholder meeting on January 27. Kaeser, a former Siemens finance c

Published 02 Feb, 2015 12:00am

Siemens profit falls as price pressures hurt energy

Siemens missed first-quarter profit forecasts and announced management overhauls at its power and gas and healthcare divisions, putting pressure on chief executive Joe Kaeser ahead of a shareholder meeting on January 27. Kaeser, a former Siemens finance c

Published 02 Feb, 2015 12:00am

Qatar's Masraf Al Rayan fourth quarter net profit up

Masraf Al Rayan, Qatar's second-largest bank by market value, reported a 21.2 percent rise in fourth-quarter net profit on January 26, beating analyst expectations and helped by lending growth.

Published 02 Feb, 2015 12:00am

Qatar's Masraf Al Rayan fourth quarter net profit up

Masraf Al Rayan, Qatar's second-largest bank by market value, reported a 21.2 percent rise in fourth-quarter net profit on January 26, beating analyst expectations and helped by lending growth.

Published 02 Feb, 2015 12:00am

IKEA net profit unchanged

IKEA Group, the world's biggest furniture retailer, posted on January 28 a fiscal full-year net profit that was unchanged from the year before and said the European market continued to improve. Net profit at the Swedish flat-packed budget furniture compan

Published 02 Feb, 2015 12:00am

IKEA net profit unchanged

IKEA Group, the world's biggest furniture retailer, posted on January 28 a fiscal full-year net profit that was unchanged from the year before and said the European market continued to improve. Net profit at the Swedish flat-packed budget furniture compan

Published 02 Feb, 2015 12:00am

LG Electronics fourth quarter profit below forecast on weak TV income

South Korea's LG Electronics Inc reported a weaker-than-expected profit for the fourth quarter, weighed by weak television earnings stemming from higher price competition and adverse exchange rate effects in markets like Brazil and Russia.

Published 02 Feb, 2015 12:00am

LG Electronics fourth quarter profit below forecast on weak TV income

South Korea's LG Electronics Inc reported a weaker-than-expected profit for the fourth quarter, weighed by weak television earnings stemming from higher price competition and adverse exchange rate effects in markets like Brazil and Russia.

Published 02 Feb, 2015 12:00am

Philips sees more costs in 2015, cuts earnings targets

Philips, the Dutch healthcare and lighting company, on January 27 said it expects up to 400 million euros ($449 million) in restructuring costs this year as it prepares to spin off its lighting division. Philips reported fourth-quarter earnings in line wi

Published 02 Feb, 2015 12:00am

Philips sees more costs in 2015, cuts earnings targets

Philips, the Dutch healthcare and lighting company, on January 27 said it expects up to 400 million euros ($449 million) in restructuring costs this year as it prepares to spin off its lighting division. Philips reported fourth-quarter earnings in line wi

Published 02 Feb, 2015 12:00am

Kuwaiti telecom group Zain may sell transmitter towers

Kuwaiti telecom operator Zain has appointed advisors to study the potential sale of its transmitter towers in some of the eight markets in which it operates, the company said on January 28.

Published 02 Feb, 2015 12:00am

Global oil downturn hits Caterpillar fourth quarter earnings

US heavy equipment maker Caterpillar said January 27 that the plunge in oil prices took a hit on the company's earnings in the fourth quarter of 2014. It also said it did not expect much of an upturn this year, with mining commodities still in a slump as

Published 02 Feb, 2015 12:00am

Global oil downturn hits Caterpillar fourth quarter earnings

US heavy equipment maker Caterpillar said January 27 that the plunge in oil prices took a hit on the company's earnings in the fourth quarter of 2014. It also said it did not expect much of an upturn this year, with mining commodities still in a slump as

Published 02 Feb, 2015 12:00am

NEC swings back to profit after smartphone overhaul

Japanese information technology firm NEC said on January 29 it swung back to profit in the nine months to December, after exiting the smartphone market as part of a broader restructuring. The company said it earned 22.8 billion yen ($193 million) in the A

Published 02 Feb, 2015 12:00am

NEC swings back to profit after smartphone overhaul

Japanese information technology firm NEC said on January 29 it swung back to profit in the nine months to December, after exiting the smartphone market as part of a broader restructuring. The company said it earned 22.8 billion yen ($193 million) in the A

Published 02 Feb, 2015 12:00am

Toshiba eyes global overhaul

Toshiba Corp said it will stop making and selling TVs in North America and is considering similar exits from other countries, the latest Japanese electronics maker to give up competing in the global TV market amid a fierce price war. Toshiba said on Janua

Published 02 Feb, 2015 12:00am

Audi could hit 2 million car sales goal ahead of 2020

US demand to keep growing, Europe stable: CEO INGOLSTADT, (Germany): German luxury carmaker Audi could reach its goal of 2 million sales a year before its 2020 target, helped by revamped models and new sport-utility vehicles, its chief executive told Reut

Published 02 Feb, 2015 12:00am

Inter's troubles continue with Sassuolo debacle

Inter Milan suffered another setback with a 3-1 defeat at Sassuolo in a bad-tempered Serie A match which was marred by skirmishes, red cards and a clash between two players and their own fans on Sunday.

Published 02 Feb, 2015 12:00am

Ko becomes youngest world number one

Seventeen year old Lydia Ko of New Zealand became the youngest golfer to become number one in world rankings by tying for second place at the LPGA season-opening Coates Golf Championship in Ocala, Florida, on Saturday. The Korean-born Ko, led by as many a

Published 02 Feb, 2015 12:00am

Arsenal climb to fifth after thumping Aston Villa 5-0

Arsenal climbed above rivals Tottenham Hotspur into fifth in the Premier League and inflicted more misery on a goal-shy Aston Villa with an emphatic 5-0 victory on Sunday that fuelled their top-four hopes. France forward Olivier Giroud opened the scoring

Published 02 Feb, 2015 12:00am

McIlroy hits record-equalling score to win second Dubai title

World number one Rory McIlroy coasted home to capture a second Dubai Desert Classic title on Sunday, winning by three shots and finishing on a tournament record equalling 22-under-par. The four-time major winner shot a final round 70 to claim his 10th Eur

Published 02 Feb, 2015 12:00am

Hingis wins mixed doubles title with Paes

Five times grand slam singles winner Martina Hingis won her second Australian Open mixed doubles title on Sunday as she teamed with India's Leander Paes to beat last year's winners France's Kristina Mladenovic and Canada's Daniel Nestor 6-4 6-3. Hingis, a

Published 02 Feb, 2015 12:00am

Whistles again for Bale who fails to convince Real crowd

Gareth Bale showed some exquisite touches for Real Madrid in their 4-1 victory over Real Sociedad on Saturday but was, once again, subjected to whistling from a section of the Bernabeu crowd. The stage was set for the Welshman to be the talisman of the te

Published 02 Feb, 2015 12:00am

Double for Mbokani puts him back at centre of DRC hopes

Democratic Republic of Congo striker Dieumerci Mbokani has re-emerged as a key figure during the African Nations Cup and was in explosive form with two goals as they beat rivals Congo 4-2 on Saturday to book a semi-final place. "It was emotional for me to

Published 02 Feb, 2015 12:00am

Wanchope appointed Costa Rica coach on long-term basis

Paulo Wanchope has been named coach of Costa Rica on a permanent basis, the World Cup quarter-finalists said on Sunday. The Costa Rican federation (Fedefutbol) confirmed the appointment on its Twitter account and said the 38-year-old would be officially p

Published 02 Feb, 2015 12:00am

Maxwell, Johnson star as Australia win tri-series

Glenn Maxwell produced a stellar all-round performance and Mitchell Johnson returned to terrorise England as Australia clinched the one-day tri-series with an emphatic 112-run victory over their Ashes rivals on Sunday.

Published 02 Feb, 2015 12:00am

Djokovic reigns supreme at Australian Open

Novak Djokovic may have garnered a reputation as the crown prince of pranksters in tennis but on Sunday he firmly established him as the king of Melbourne's blue hardcourts with his fifth Australian Open title. The 27-year-old Serb, limping from two slips

Published 02 Feb, 2015 12:00am

Germany's Otto says currencies weigh on earnings

Germany's Otto, Europe's second-biggest e-commerce company, expects a "painful drop" in earnings for the 2014/15 fiscal year as the weak Russian rouble and euro weigh, its chief executive told the newspaper Handelsblatt. The Otto Group, a mail order firm

Published 02 Feb, 2015 12:00am

Germany's Otto says currencies weigh on earnings

Germany's Otto, Europe's second-biggest e-commerce company, expects a "painful drop" in earnings for the 2014/15 fiscal year as the weak Russian rouble and euro weigh, its chief executive told the newspaper Handelsblatt. The Otto Group, a mail order firm

Published 02 Feb, 2015 12:00am

France's Sapin says Greece has no future outside the euro

Greece has no future outside the euro but it is legitimate for the country to want to discuss ways to reduce the weight of its debt, French Finance Minister Michel Sapin said ahead of a meeting with his Greek counterpart Yanis Varoufakis on Sunday. "If a

Published 02 Feb, 2015 12:00am

Firms prepare for new tax rules as China vows crackdown

The Chinese government's vow to increase tax scrutiny of foreign companies has sent firms rushing to tax advisors ahead of the implementation on Sunday of new rules designed to rein in cross-border tax avoidance. Tax professionals and business lobbies ali

Published 02 Feb, 2015 12:00am

Ford CFO says sees ongoing problems in Russia

The finance chief of Ford Motor Co expects ongoing problems in Russia where the decline of the rouble and the struggling economy was weighing on its market share, according to German newspaper Handelsblatt.

Published 02 Feb, 2015 12:00am

Bangladesh aims to boost tech exports to $1 billion by 2019

Bangladesh aims to quadruple its earnings from information, communication and technology (ICT) exports to $1 billion by 2019, Zunaid Ahmed Palak, the country's junior minister for ICT, said on Sunday. "Our export earnings from this sector was only $20 mil

Published 02 Feb, 2015 12:00am

Sugar surplus shrinking but industry's outlook remains tough

Large global sugar stocks built up during years of oversupply are finally beginning to shrink as low prices curb production and consumption edges higher but the industry's outlook remains challenging, participants at a major conference said on Sunday.

Published 02 Feb, 2015 12:00am

Saudi Aramco stops Red Sea deepwater exploration work

State oil giant Saudi Aramco has put on hold its deepwater oil and gas exploration and drilling activities in the Red Sea because of high costs as it economises in an environment of low crude prices, industry sources said on Sunday. The cost of operations

Published 02 Feb, 2015 12:00am

Egypt's Global Telecom to sell Djezzy majority stake for $2.6 billion

Egypt's Global Telecom (GTH) will sell a 51 percent stake in Djezzy for $2.6 billion while keeping operational control of the Algerian mobile operator, Global said in a statement on Sunday.

Published 02 Feb, 2015 12:00am

New Saudi regulator says market-opening plan on track

The new head of Saudi Arabia's securities regulator said the kingdom remained on track to open its $510 billion stock market to direct foreign investment in the first half of this year. Mohammed Al-Jadaan, founding partner at law firm Al-Jadaan & Partners

Published 02 Feb, 2015 12:00am

New Saudi regulator says market-opening plan on track

The new head of Saudi Arabia's securities regulator said the kingdom remained on track to open its $510 billion stock market to direct foreign investment in the first half of this year. Mohammed Al-Jadaan, founding partner at law firm Al-Jadaan & Partners

Published 02 Feb, 2015 12:00am

China eyes food safety, modern farms in 2015 rural policy

China has listed food safety and modernising farms as among key priorities this year, its 2015 rural policy outline showed, as it tackles falling agricultural productivity that has raised concerns about its future food supply.

Published 02 Feb, 2015 12:00am

Abu Dhabi's Waha Capital to invest $870 million cash bounty: CEO

Abu Dhabi investment firm Waha Capital plans to invest 3.2 billion dirhams ($872 million) in the short-term to grow its energy, healthcare and infrastructure portfolio, its chief executive said on Sunday.

Published 02 Feb, 2015 12:00am

Abu Dhabi's Waha Capital to invest $870 million cash bounty: CEO

Abu Dhabi investment firm Waha Capital plans to invest 3.2 billion dirhams ($872 million) in the short-term to grow its energy, healthcare and infrastructure portfolio, its chief executive said on Sunday.

Published 02 Feb, 2015 12:00am

Irish Prime Minister wants "cast iron" guarantees on Aer Lingus sale

The owner of British Airways must provide some sort of "cast iron permanent guarantee" on flights to Ireland if the government is to even consider its bid for Aer Lingus, Prime Minister Enda Kenny said on Sunday.

Published 02 Feb, 2015 12:00am

Almarai chief executive resigns, new CEO appointed

Almarai, the Gulf's largest dairy company, has appointed a new chief executive after the previous one resigned to become Saudi Arabia's agriculture minister, it said on Sunday. Georges Schorderet, previously the company's chief operating officer, is takin

Published 02 Feb, 2015 12:00am

Bangladesh's interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Sunday. 77.80-77.80 (previous 77.80-77.80).

Published 02 Feb, 2015 12:00am

Sri Lanka seen tightening by removing lower repo penalty rate

Sri Lanka's central bank is expected to hold key interest rates steady at record lows on Tuesday for a 12th straight month, but tighten policy by scrapping the lower repo rate paid to banks that use the standing deposit facility more than three times a mo

Published 02 Feb, 2015 12:00am

Tokyo investors eye US jobs, await demand clues

Tokyo investors will watch closely a set of demand-linked data in Japan next week for clues on the health of the economy after it tipped into recession last year, while US data will also be in focus.

Published 02 Feb, 2015 12:00am

Gulf markets surge on stronger oil, big Saudi payout

Saudi Arabia's stock market rose sharply on Sunday after King Salman ordered a lavish payout to state employees and oil prices jumped on reports of declining US drilling activity. Most other Gulf markets also climbed in sympathy. The Saudi index jumped 3.

Published 02 Feb, 2015 12:00am

LSE to put Russell Investments up for sale for $1.4 billion

The London Stock Exchange Group Plc plans to put Russell Investments up for sale in mid-February and hopes to fetch around $1.4 billion for the unit, two sources told Reuters Wednesday. The exchange operator has tapped Barclays to sell the business, accor

Published 02 Feb, 2015 12:00am

SNB unofficially targeting 1.05-1.10 francs per euro

The Swiss National Bank, which last month scrapped the cap it had imposed on the value of the franc, is unofficially targeting an exchange rate of 1.05-1.10 francs per euro, a Swiss newspaper reported on Sunday, citing sources close to the bank. A spokesm

Published 02 Feb, 2015 12:00am

Currency	Rate
USD PKR Interbank Selling / Jun 14	278.71
USD PKR Interbank Buying / Jun 14	278.51
USD to Japanese Yen / Jun 14	157.40
USD to Swiss Franc / Jun 14	0.89
Pound Sterling to USD / Jun 14	1.28
Euro to USD / Jun 14	1.07

Stock	Volume
S&P 500 / Jun 14	5,431.60
India Sensex / Jun 14	76,992.77
Tokyo Nikkei / Jun 14	38,814.56
Nasdaq / Jun 14	17,688.88
Hang Seng / Jun 14	17,941.78
FTSE 100 / Jun 14	8,146.86
Dow Jones / Jun 14	38,589.16
Germany DAX 30 / Jun 14	18,002.02

Item	Value
Crude Oil USD/Barrel / Jun 14	78.45
Karachi Cotton PKR/37.32 KG / Jun 14	19,935
Gold 10 Grams PKR / Jun 14	207,047
Gold Spot USD/Ounce / Jun 14	2,333.04
Cotton US¢/pound / Jun 14	72.14
Petrol/Litre / Jun 17	258.16

Stock	Price
786 Invest Ltd / Jun 17 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jun 17 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jun 17 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jun 17 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jun 17 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jun 17 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jun 17 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jun 17 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jun 17 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jun 17 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jun 17 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jun 17 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jun 17 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jun 17 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jun 17 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jun 17 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jun 17 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jun 17 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jun 17 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jun 17 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jun 17 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jun 17 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jun 17 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jun 17 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jun 17 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jun 17 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jun 17 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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