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Print - 2015-05-17
Tax laws may be amended: FBR seeks to boost ST, WHT collection
Cotton

Tax laws may be amended: FBR seeks to boost ST, WHT collection

The Federal Board of Revenue (FBR) is likely to amend tax laws in budget (2015-16) for proper collection of sales tax and withholding tax at the import stage with accurate applicability of concessionary rate of sales tax on import of raw materials for tex
Published 17 May, 2015 12:00am
Reduced ST rates top agenda: EAC to hammer out key budget proposals

Reduced ST rates top agenda: EAC to hammer out key budget proposals

A key proposal of the Economic Advisory Council (EAC) for budget (2015-16) is to reduce sales tax rate from 17 to 16 percent and carve out a long-term roadmap to bring it down to 12.5 percent depending on the amount of revenue collection. Sources told
Published 17 May, 2015 12:00am
Reduced ST rates top agenda: EAC to hammer out key budget proposals

Reduced ST rates top agenda: EAC to hammer out key budget proposals

A key proposal of the Economic Advisory Council (EAC) for budget (2015-16) is to reduce sales tax rate from 17 to 16 percent and carve out a long-term roadmap to bring it down to 12.5 percent depending on the amount of revenue collection. Sources told
Published 17 May, 2015 12:00am
Reduced ST rates top agenda: EAC to hammer out key budget proposals

Reduced ST rates top agenda: EAC to hammer out key budget proposals

A key proposal of the Economic Advisory Council (EAC) for budget (2015-16) is to reduce sales tax rate from 17 to 16 percent and carve out a long-term roadmap to bring it down to 12.5 percent depending on the amount of revenue collection. Sources told
Published 17 May, 2015 12:00am
Reduced ST rates top agenda: EAC to hammer out key budget proposals

Reduced ST rates top agenda: EAC to hammer out key budget proposals

A key proposal of the Economic Advisory Council (EAC) for budget (2015-16) is to reduce sales tax rate from 17 to 16 percent and carve out a long-term roadmap to bring it down to 12.5 percent depending on the amount of revenue collection. Sources told
Published 17 May, 2015 12:00am
Morsi, 100 others sentenced to death

Morsi, 100 others sentenced to death

An Egyptian court on Saturday sentenced deposed Islamist president Mohamed Morsi and more than 100 other people to death for their role in a mass jailbreak during the 2011 uprising. Hours after the ruling, gunmen shot dead two judges, a prosecutor and the
Published 17 May, 2015 12:00am
Morsi, 100 others sentenced to death

Morsi, 100 others sentenced to death

An Egyptian court on Saturday sentenced deposed Islamist president Mohamed Morsi and more than 100 other people to death for their role in a mass jailbreak during the 2011 uprising. Hours after the ruling, gunmen shot dead two judges, a prosecutor and the
Published 17 May, 2015 12:00am
Four BLA insurgents killed in Karachi raid

Four BLA insurgents killed in Karachi raid

Paramilitary forces on Saturday killed at least four members of a Baloch insurgent group in Karachi, officials said. The incident happened in the impoverished neighbourhood of old Golimar where paramilitary Rangers had launched a targeted operation agains
Published 17 May, 2015 12:00am
Four BLA insurgents killed in Karachi raid

Four BLA insurgents killed in Karachi raid

Paramilitary forces on Saturday killed at least four members of a Baloch insurgent group in Karachi, officials said. The incident happened in the impoverished neighbourhood of old Golimar where paramilitary Rangers had launched a targeted operation agains
Published 17 May, 2015 12:00am
Nisar's absence from important meetings becomes a mystery

Nisar's absence from important meetings becomes a mystery

Interior Minister Chaudhry Nisar Ali Khan's absence from high-level security meetings held in Karachi following Wednesday's brutal killing of 45 members of the Ismaili community in an attack on their bus, has further strengthened the perception of his ser
Published 17 May, 2015 12:00am
Nisar's absence from important meetings becomes a mystery

Nisar's absence from important meetings becomes a mystery

Interior Minister Chaudhry Nisar Ali Khan's absence from high-level security meetings held in Karachi following Wednesday's brutal killing of 45 members of the Ismaili community in an attack on their bus, has further strengthened the perception of his ser
Published 17 May, 2015 12:00am
The Weather

The Weather

The weather report on Saturday (May 16, 2015) and the forecast for Sunday (May 17, 2015).

Published 17 May, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (May 16, 2015).

Published 17 May, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (May 16, 2015).

Published 17 May, 2015 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (May 16, 2015).

Published 17 May, 2015 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (May 16, 2015)

Published 17 May, 2015 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 16, 2015).

Published 17 May, 2015 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (May 16, 2015).

Published 17 May, 2015 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (May 16, 2015).

Published 17 May, 2015 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (May 16, 2015).

Published 17 May, 2015 12:00am
THE RUPEE: rates firm
Currency

THE RUPEE: rates firm

The rupee maintained overnight levels against the dollar on the currency market on Saturday in the process of trading, dealers said. The rupee did not move any side in terms of the dollar for buying and selling at Rs 102.60 and Rs 102.80 respectively, whi
Published 17 May, 2015 12:00am
THE RUPEE: rates firm
Currency

THE RUPEE: rates firm

The rupee maintained overnight levels against the dollar on the currency market on Saturday in the process of trading, dealers said. The rupee did not move any side in terms of the dollar for buying and selling at Rs 102.60 and Rs 102.80 respectively, whi
Published 17 May, 2015 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (May 16, 2015).

Published 17 May, 2015 12:00am
South Korean mills buy Australian wheat

South Korean mills buy Australian wheat

Two South Korean flour mills purchased 94,000 tonnes of Australian-origin milling wheat in tenders which closed on Thursday, European traders said on Friday. Daehan Flour Mill Co Ltd bought 45,000 tonnes and another unnamed mill bought 49,000 tonnes, trad
Published 17 May, 2015 12:00am
CBOT wheat futures lower

CBOT wheat futures lower

Wheat futures on the Chicago Board of Trade fell Friday in a light technical setback from Thursday's 7 percent short-covering rally, but still ended higher for the week, traders said. Additional pressure stemmed from news that Russia lifted its wheat expo
Published 17 May, 2015 12:00am
European vegetable oil prices mixed
Vegetable Oil

European vegetable oil prices mixed

European vegetable oil prices were mixed on Friday as the market adjusted to exchange rate movements and an easing in Malaysian palm oil futures after a rally this week. Activity was very light as many traders stayed away from their desks after Thursday's
Published 17 May, 2015 12:00am
Downward trend on grain market
Cotton

Downward trend on grain market

Most of commodities fell on the wholesale grain market on Saturday in the process of trading, dealers said. On the grams side, grams Australia No 1 lost Rs 500 to Rs 6700, grams Australia Dall No 2 shed Rs 200 to Rs 7400, grams 50x50 also dropped by Rs 35
Published 17 May, 2015 12:00am
Asian gasoline crack hit 22-month high

Asian gasoline crack hit 22-month high

Asia's gasoline crack hit a 22-month high of $16.16 a barrel on Friday as solid demand driven by refinery maintenance and the upcoming Muslim fasting month kept a bull-run going, traders said. Buyer Indian Oil Corp (IOC) returned to the market for at leas
Published 17 May, 2015 12:00am
Iron ore cuts weekly gain as Chinese buying stalls

Iron ore cuts weekly gain as Chinese buying stalls

Spot iron ore prices are set to pare weekly gains after the commodity came off a 10-week high hit on Monday as Chinese buying interest stalled following a recent restocking binge. Australian miner Atlas Iron said on Friday it would resume full mining oper
Published 17 May, 2015 12:00am
Thai rice prices at 11-month low on weak demand

Thai rice prices at 11-month low on weak demand

Thai rice prices were mired at their weakest level in 11 months this week as demand remained low, but rates for the grain from Vietnam rose slightly on hopes key buyer Philippines would soon issue an import tender, traders said on Wednesday. Thailand's 5
Published 17 May, 2015 12:00am
Oil cake market rates
Cotton

Oil cake market rates

Both the futures were down on the forward cottonseed oilcake market on Saturday in the process of trading, dealers said. The May vaida closed at Rs 1751.80 on Thursday and it commenced with a fall of 70 paisa at Rs 1751.10 in the morning session, they sai
Published 17 May, 2015 12:00am
Cotton market: Ginners prefer to wait on sidelines
Cotton

Cotton market: Ginners prefer to wait on sidelines

Volume of business dropped on the cotton market on Saturday as ginners preferred to be sidelined due to depleted stock with them and likely delay in new crop, dealers said. The official spot rate was unchanged at Rs 5450, dealers said. In the ready sessio
Published 17 May, 2015 12:00am
US Midwest corn bids mostly steady in thin trade

US Midwest corn bids mostly steady in thin trade

Corn spot basis bids held mostly steady in thin trade around the US Midwest region on Friday, dealers said. Grain merchants noted some light farmer crop sales early on Friday but said the pace tapered off into the afternoon. Some farmers sold light amount
Published 17 May, 2015 12:00am
Coffee trade in Vietnam remains slow this week

Coffee trade in Vietnam remains slow this week

Coffee trading in Vietnam, the biggest robusta producer, slowed this week due to higher offers and thin demand, while the harvest in rival Indonesia picked up, traders said on Thursday. Vietnamese robusta grade 2, 5 percent black and broken beans were tra
Published 17 May, 2015 12:00am
Philippines cuts H1 rice output estimate

Philippines cuts H1 rice output estimate

The Philippines' unmilled rice output in the first half is now forecast to hit 8.27 million tonnes, lower than the government's initial estimate of 8.55 million tonnes after a weaker-than-expected harvest in the first quarter, the statistics office said o
Published 17 May, 2015 12:00am
Indian soyabeans futures rise on output concerns

Indian soyabeans futures rise on output concerns

Indian soyabeans futures rose on Friday on thin supplies in spot markets and on concerns below-normal monsoon rains may adversely affect the oilseed's output, while rapeseed eased on a drop in Malaysian palm oil prices. Malaysian palm oil futures eased fu
Published 17 May, 2015 12:00am
US FOB Gulf grain basis offers steady

US FOB Gulf grain basis offers steady

US FOB Gulf corn, soyabean and wheat basis offers at the US Gulf were steady late Friday amid lower futures and slow country movement, traders said. FOB Gulf June corn was unchanged at 75 cents over CBOT July, which closed 2-1/2 cents lower at $3.65-1/2.
Published 17 May, 2015 12:00am
US natural gas futures edge up

US natural gas futures edge up

US natural gas futures ended up a bit on Friday, maintaining gains from earlier this week to the highest level since January, as some traders covered short positions. Front-month gas futures on the New York Mercantile Exchange closed up 0.8 cents at $3.01
Published 17 May, 2015 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures eased on Friday in thin trading volume and posted a small weekly loss. Canola was pressured by weakness in Chicago soybeans, which dipped on expectations for favorable weather across the US Midwest. Western Canada farmers are m
Published 17 May, 2015 12:00am
European wheat futures rise to three-week high

European wheat futures rise to three-week high

European wheat futures rose to a three-week high on Friday before falling back to little changed when a rally in Chicago ran out of steam. Dealers said prices in Chicago had initially been supported by short covering fuelled partly by forecasts of storms
Published 17 May, 2015 12:00am
Chicago wheat prices rise to one-month high

Chicago wheat prices rise to one-month high

Chicago wheat prices rose to a one-month high on Friday as forecasts of storms over US hard red winter crop areas heightened crop concerns and prompted further short covering. Corn rose for a fourth consecutive session, supported by the rally in wheat, wh
Published 17 May, 2015 12:00am
Russia lifts wheat export duty, exports seen rising

Russia lifts wheat export duty, exports seen rising

Russia lifted the duty on wheat exports on Friday to help domestic producers and the government said the move would boost overseas sales by one million tonnes. One of the world's major wheat exporters, Russia initially imposed the tax from February 1 unti
Published 17 May, 2015 12:00am
New trading dynamics encourage big FX lurches
Currency

New trading dynamics encourage big FX lurches

The currency markets are behaving like a train with faulty brakes: a little momentum can take exchange rates on a long journey. Examples include the euro's swoon in the first half of March, the dollar's biggest one-day drop in six years on March 18, and t
Published 17 May, 2015 12:00am
Sell euros? This year's dead cert becomes frustrating trade
Currency

Sell euros? This year's dead cert becomes frustrating trade

Revised expectations of when the Federal Reserve will raise interest rates and a sell-off in German bonds have catapulted the euro from 12-year lows, frustrating all those who bet the single currency was heading for parity against the dollar. In the deriv
Published 17 May, 2015 12:00am
Canadian dollar slips
Currency

Canadian dollar slips

The Canadian dollar was a touch weaker against its US counterpart on Friday, as US crude prices fell and traders speculated whether the oil rally over the last several weeks was petering out. US crude futures have jumped nearly 30 percent since late March
Published 17 May, 2015 12:00am
Dollar drops to three-month low versus euro on soft US data

Dollar drops to three-month low versus euro on soft US data

The dollar fell to a three-month low against the euro on Friday, as disappointing data on US domestic factory activity and consumer sentiment spurred doubts about the recovery in the world's largest economy. Against a basket of six major currencies, the d
Published 17 May, 2015 12:00am
Net US dollar longs fall to lowest in nine months
Currency

Net US dollar longs fall to lowest in nine months

Speculators further pared back positive bets on the US dollar in the latest period, pushing the currency's net long position to the lowest in nine months, according to Reuters calculations and data from the Commodity Futures Trading Commission released on
Published 17 May, 2015 12:00am
Ghana rate hike should bolster cedi
Currency

Ghana rate hike should bolster cedi

A surprise 100 basis point interest rate rise in Ghana to 22 percent should help slow the decline of the cedi currency towards stability and boost the credibility of the central bank governor said on Thursday. The decline of the cedi by 17 percent this ye
Published 17 May, 2015 12:00am
US SEC a stumbling block in banks' forex guilty pleas
Libor

US SEC a stumbling block in banks' forex guilty pleas

Banks want assurances from US regulators that they will not be barred from certain businesses before agreeing to plead guilty to criminal charges over the manipulation of foreign exchange rates, causing a delay in multibillion-dollar settlements, people f
Published 17 May, 2015 12:00am
Money talks, IPO reform walks as China stocks rally

Money talks, IPO reform walks as China stocks rally

With China's main stock market more than doubling in the past year, authorities are looking to cash in by accelerating flotations, but the state-controlled listing system is riddled with institutional shortcomings, analysts say. In a legacy of China's dec
Published 17 May, 2015 12:00am
Barclays approaches tolerable end to FX limbo
Libor

Barclays approaches tolerable end to FX limbo

Barclays' largest regulatory overhang looks to be entering its endgame. The UK bank is close to a deal with regulators for manipulating foreign exchange rates, Reuters reported on May 11. If forecasts of a 2 billion pound fine are accurate, investors' mai
Published 17 May, 2015 12:00am
Bank proposes ETF-style trusts to boost liquidity

Bank proposes ETF-style trusts to boost liquidity

A bank proposal to pool corporate bonds of a single borrower into an ETF-style "trust" to help solve the credit markets' chronic illiquidity problem is being circulated among issuers and investors, and finding some support. Though still conceptual, the id
Published 17 May, 2015 12:00am
Bank proposes ETF-style trusts to boost liquidity

Bank proposes ETF-style trusts to boost liquidity

A bank proposal to pool corporate bonds of a single borrower into an ETF-style "trust" to help solve the credit markets' chronic illiquidity problem is being circulated among issuers and investors, and finding some support. Though still conceptual, the id
Published 17 May, 2015 12:00am
Resource stocks help TSX gain; financials weigh

Resource stocks help TSX gain; financials weigh

Canada's main stock index gained on Friday as a broad rally led by oil and gas, mining, and industrial stocks offset weakness among large-cap banks and insurers. The Toronto Stock Exchange's S&P/TSX composite index added 80 points, or 0.53 percent, to 15,
Published 17 May, 2015 12:00am
Treasury yields drop as economic growth slows

Treasury yields drop as economic growth slows

US Treasury yields fell on Friday on data pointing to slowing economic growth, raising expectations that the Federal Reserve will need to wait longer to raise interest rates. US consumer sentiment fell more than expected in May and economists also cut the
Published 17 May, 2015 12:00am
Treasury yields drop as economic growth slows

Treasury yields drop as economic growth slows

US Treasury yields fell on Friday on data pointing to slowing economic growth, raising expectations that the Federal Reserve will need to wait longer to raise interest rates. US consumer sentiment fell more than expected in May and economists also cut the
Published 17 May, 2015 12:00am
Gateley to be first British law firm to list in London

Gateley to be first British law firm to list in London

Gateley is set to be the first British law firm to list in London after it announced its stock market flotation on Tuesday in a move that will give it access to funds for expansion. The commercial law firm, with six offices in England and one in Dubai, sa
Published 17 May, 2015 12:00am
Gateley to be first British law firm to list in London

Gateley to be first British law firm to list in London

Gateley is set to be the first British law firm to list in London after it announced its stock market flotation on Tuesday in a move that will give it access to funds for expansion. The commercial law firm, with six offices in England and one in Dubai, sa
Published 17 May, 2015 12:00am
Puerto Rico bonds rally in high volume after tax accord

Puerto Rico bonds rally in high volume after tax accord

Puerto Rico bonds rallied in high volume on Friday, pushing yields lower after lawmakers agreed to a series of tax measures late on Thursday that could help stabilize the island''s finances and pave the way for a new financing deal. Yields fell on the isl
Published 17 May, 2015 12:00am
Puerto Rico bonds rally in high volume after tax accord

Puerto Rico bonds rally in high volume after tax accord

Puerto Rico bonds rallied in high volume on Friday, pushing yields lower after lawmakers agreed to a series of tax measures late on Thursday that could help stabilize the island's finances and pave the way for a new financing deal. Yields fell on the isla
Published 17 May, 2015 12:00am
Puerto Rico bonds rally in high volume after tax accord

Puerto Rico bonds rally in high volume after tax accord

Puerto Rico bonds rallied in high volume on Friday, pushing yields lower after lawmakers agreed to a series of tax measures late on Thursday that could help stabilize the island's finances and pave the way for a new financing deal. Yields fell on the isla
Published 17 May, 2015 12:00am
Eurozone bonds rebound as market searches for stable ground
Currency

Eurozone bonds rebound as market searches for stable ground

Eurozone bond yields fell on Friday, tracking an overnight move in US Treasury yields, but strategists remained cautious about the market's prospects following weeks of violent price swings. German 10-year yields dropped 7 basis points to 0.64 percent, bu
Published 17 May, 2015 12:00am
Eurozone bonds rebound as market searches for stable ground
Currency

Eurozone bonds rebound as market searches for stable ground

Eurozone bond yields fell on Friday, tracking an overnight move in US Treasury yields, but strategists remained cautious about the market's prospects following weeks of violent price swings. German 10-year yields dropped 7 basis points to 0.64 percent, bu
Published 17 May, 2015 12:00am
Ireland eyes full recovery of PTSB rescue funds after bumper IPO

Ireland eyes full recovery of PTSB rescue funds after bumper IPO

Permanent tsb (PTSB) has raised 400 million euros ($436 million) in a share offer priced at the top of the range, prompting Ireland's finance minister to promise taxpayers a recovery of all the rescue funds invested in the bank. The smallest of Ireland's
Published 17 May, 2015 12:00am
Ireland eyes full recovery of PTSB rescue funds after bumper IPO

Ireland eyes full recovery of PTSB rescue funds after bumper IPO

Permanent tsb (PTSB) has raised 400 million euros ($436 million) in a share offer priced at the top of the range, prompting Ireland's finance minister to promise taxpayers a recovery of all the rescue funds invested in the bank. The smallest of Ireland's
Published 17 May, 2015 12:00am
S&P ekes out second record close after lacklustre data

S&P ekes out second record close after lacklustre data

US shares ended little changed on Friday, with the S&P 500 edging up to a record high for a second straight session after a ream of weak economic data. The S&P 500 gained 1.63 points, or 0.08 percent, to end at 2,122.73. That followed a more substantial 1
Published 17 May, 2015 12:00am
Russia helps block export restriction on asbestos

Russia helps block export restriction on asbestos

Four countries including Russia have blocked a bid to add chrysotile asbestos to a list of dangerous substances subject to export restrictions, participants at a UN meeting in Geneva said Saturday. Russia, Kazakhstan, Kyrgyzstan and Zimbawe opposed listin
Published 17 May, 2015 12:00am
Fiat Chrysler''s US unit redeems bonds due 2019

Fiat Chrysler''s US unit redeems bonds due 2019

The US unit of carmaker Fiat Chrysler Automobiles (FCA) has redeemed senior secured notes that mature in 2019 with a total face value of $2.875 billion, a filing with US market regulator SEC showed. The notes, which carry a coupon of 8 percent, were redee
Published 17 May, 2015 12:00am
Fiat Chrysler's US unit redeems bonds due 2019

Fiat Chrysler's US unit redeems bonds due 2019

The US unit of carmaker Fiat Chrysler Automobiles (FCA) has redeemed senior secured notes that mature in 2019 with a total face value of $2.875 billion, a filing with US market regulator SEC showed. The notes, which carry a coupon of 8 percent, were redee
Published 17 May, 2015 12:00am
Fiat Chrysler's US unit redeems bonds due 2019

Fiat Chrysler's US unit redeems bonds due 2019

The US unit of carmaker Fiat Chrysler Automobiles (FCA) has redeemed senior secured notes that mature in 2019 with a total face value of $2.875 billion, a filing with US market regulator SEC showed. The notes, which carry a coupon of 8 percent, were redee
Published 17 May, 2015 12:00am
Deutsche Bank co-CEOs say they will stay on

Deutsche Bank co-CEOs say they will stay on

The co-chief executives of Deutsche Bank ruled out stepping down despite criticism from investors over a series of fines and legal problems that have hit the bank, in an interview published in a German newspaper. The bank, fined a record $2.5 billion for
Published 17 May, 2015 12:00am
Air Berlin has last shot at turnaround: CEO

Air Berlin has last shot at turnaround: CEO

Air Berlin has one last shot at turning itself around, its chief executive told a German newspaper, underlining the scale of the challenge facing Germany's second largest airline. The budget airline, 29 percent owned by Abu Dhabi-based Etihad, has made op
Published 17 May, 2015 12:00am
Top US hedge funds adjust energy bets on sliding oil prices

Top US hedge funds adjust energy bets on sliding oil prices

Top US hedge fund managers made contrasting bets on energy companies in the first quarter, with Greenlight Capital's David Einhorn sticking with names pummeled by falling oil prices, while Hayman Capital's Kyle Bass bet on frackers, regulatory filings sho
Published 17 May, 2015 12:00am
Malaysian dam project opposed by tribes gets green light

Malaysian dam project opposed by tribes gets green light

Construction of a Malaysian dam that will flood a rainforested area half the size of Singapore and displace 20,000 tribespeople was given the green light Saturday by the state government, local media reported. "The construction will commence as soon as po
Published 17 May, 2015 12:00am
Bangladesh working towards credit upgrade
Currency

Bangladesh working towards credit upgrade

Bangladesh's central bank governor said on Saturday the economy remained stable despite months of political unrest that has killed 120 people and slashed domestic output, and it was working towards a credit upgrade from Standard & Poor's. Talking to Reute
Published 17 May, 2015 12:00am
FAO Schwarz to close flagship New York City store

FAO Schwarz to close flagship New York City store

FAO Schwarz, the oldest toy store in the United States and a retailer once considered accessible only to the rich, is closing its much-loved Fifth Avenue flagship store in Manhattan, citing rising rent prices. The three-level, 45,000 square foot space is
Published 17 May, 2015 12:00am
US finds dumping of welded line pipe from Turkey, South Korea

US finds dumping of welded line pipe from Turkey, South Korea

The US Commerce Department has found dumping of imports of welded line pipe from South Korea and Turkey, according to a preliminary finding released on Friday. The dumping finding means a foreign company is selling a product in the United States at less t
Published 17 May, 2015 12:00am
Factory fire puts spotlight on working conditions in Philippines

Factory fire puts spotlight on working conditions in Philippines

A fire that killed 72 people in a rubber slipper factory in the Philippines on Wednesday has shone a spotlight on what trade unions say are the often unsafe working conditions in Southeast Asia's fastest-growing country. The fire, which gutted the two-sto
Published 17 May, 2015 12:00am
US Air Force says may seek rocket data rights from ULA

US Air Force says may seek rocket data rights from ULA

The US Air Force on Friday said it is assessing what data rights it has to the Atlas 5 rocket built by United Launch Alliance (ULA) after some companies expressed interest in swapping the rocket's Russian-built engine with a homegrown one. Assistant Air F
Published 17 May, 2015 12:00am
British government announces 'unusual' extra budget

British government announces 'unusual' extra budget

Britain's finance minister announced plans for a second 2015 government budget on Saturday to quickly implement his Conservative Party's campaign promises of spending cuts and savings following a surprise election win. "On the eighth of July I am going to
Published 17 May, 2015 12:00am
Dutch government talks with trade unions break down

Dutch government talks with trade unions break down

Hundreds of thousands of Dutch workers will begin several weeks of protests and work disruptions after talks with the government about pay and conditions broke down, the largest trade union federation said on Saturday. The FNV said negotiations on behalf
Published 17 May, 2015 12:00am
Alibaba sued in US by luxury brands over counterfeit goods

Alibaba sued in US by luxury brands over counterfeit goods

A group of luxury goods makers sued Alibaba Group Holding Ltd on Friday, contending the Chinese online shopping giant had knowingly made it possible for counterfeiters to sell their products throughout the world. The lawsuit was filed in Manhattan federal
Published 17 May, 2015 12:00am
China infrastructure bank will uphold standards: minister

China infrastructure bank will uphold standards: minister

China's foreign minister worked on Saturday to allay concerns that Beijing's new regional infrastructure bank would not meet international standards as he met with US Secretary of State John Kerry. The US declined to become a founding member of the Asian
Published 17 May, 2015 12:00am
Barclays leveraged finance banker leaves for Nomura

Barclays leveraged finance banker leaves for Nomura

Christina Park, a banker in leveraged finance at Barclays is leaving for Nomura Holdings Inc in the United States, according to people familiar with the matter. Park, a managing director, worked on the Americas leveraged finance team at Barclays for the p
Published 17 May, 2015 12:00am