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Apr 30, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-05-20
Malik in, Ajmal dropped for Zimbabwe Twenty20s

Malik in, Ajmal dropped for Zimbabwe Twenty20s

Pakistan on Tuesday announced surprise recalls for former captain Shoaib Malik and paceman Mohammad Sami but left out struggling spinner Saeed Ajmal for the two Twenty20s internationals against Zimbabwe.
Published 20 May, 2015 12:00am
AFC Champions League: Leandro double puts Kashiwa in driving seat

AFC Champions League: Leandro double puts Kashiwa in driving seat

Brazilian forward Leandro scored twice and set up another as Kashiwa Reysol came from behind to beat Suwon Samsung 3-2 away in the AFC Champions League last 16 on Tuesday. Another Korean side, K League Classic champions Jeonbuk Hyundai Motors, also had a
Published 20 May, 2015 12:00am
First HP Invitation Golf concludes

First HP Invitation Golf concludes

The first HP Invitation Golf Tournament 2015 Pakistan held at Karachi Golf Club, here on Tuesday. Despite hot weather, 123 amateur golfers participated in this 18-hole premier event comprising golfers from leading MNCs, banks and financial institutions, u
Published 20 May, 2015 12:00am
Chigumbura hopes to put good show

Chigumbura hopes to put good show

Zimbabwe cricket team skipper Elton Chigumbura Tuesday expressed optimism to put up a good show against host Pakistan in the upcoming series. Talking to media here at Gaddafi Stadium, Chigumbura said that Zimbabwe have a good mixture and we will give the
Published 20 May, 2015 12:00am
TomTom shares jump after Apple renews digital maps contract

TomTom shares jump after Apple renews digital maps contract

Dutch navigation systems company TomTom NV said Apple Inc would continue to buy its digital maps, giving a vote confidence that sent the Dutch company's shares more than 7 percent higher to a near six-year high. TomTom did not release details of the lates
Published 20 May, 2015 12:00am
TomTom shares jump after Apple renews digital maps contract

TomTom shares jump after Apple renews digital maps contract

Dutch navigation systems company TomTom NV said Apple Inc would continue to buy its digital maps, giving a vote confidence that sent the Dutch company's shares more than 7 percent higher to a near six-year high. TomTom did not release details of the lates
Published 20 May, 2015 12:00am
EU approves Spain's Sabadell takeover of Britain's TSB

EU approves Spain's Sabadell takeover of Britain's TSB

The EU approved on Monday Spanish lender Sabadell's £1.7-billion (2.3-billion-euro) takeover of TSB, a unit of Britain's bailed-out lender Lloyds. Competition Commissioner Margrethe Vestager said the deal announced in March would not breach the European U
Published 20 May, 2015 12:00am
EU approves Spain's Sabadell takeover of Britain's TSB

EU approves Spain's Sabadell takeover of Britain's TSB

The EU approved on Monday Spanish lender Sabadell's £1.7-billion (2.3-billion-euro) takeover of TSB, a unit of Britain's bailed-out lender Lloyds. Competition Commissioner Margrethe Vestager said the deal announced in March would not breach the European U
Published 20 May, 2015 12:00am
BoJ to maintain stimulus, debate consumption strength

BoJ to maintain stimulus, debate consumption strength

The Bank of Japan is set to maintain its massive stimulus programme on Friday and its optimism that a consumption-driven recovery will eventually take hold, helping achieve its ambitious inflation target around the middle of 2016.
Published 20 May, 2015 12:00am
Sanction-hit Russian bank VTB announces $372 million loss

Sanction-hit Russian bank VTB announces $372 million loss

Russia's second largest bank VTB said Tuesday it made a loss of 18.3 billion rubles ($371.8 million) in the first quarter, blaming a hike in interest rates and the economic slowdown. The majority state-owned bank which has been targeted by European Union
Published 20 May, 2015 12:00am
Rouble's strength attractive for state forex purchases: ministry

Rouble's strength attractive for state forex purchases: ministry

The Russian Finance Ministry believes that the rouble's current strength makes it attractive to buy foreign exchange for budgetary purposes, including paying off sovereign debt, RIA news agency cited a deputy minister as saying on Tuesday.
Published 20 May, 2015 12:00am
Kenya massacre mall to reopen in July

Kenya massacre mall to reopen in July

The Westgate shopping mall in Kenya's capital Nairobi, closed after a siege and massacre carried out by Somali Islamists in 2013, is to reopen in July, its management said Tuesday. The mall, once one of the Kenyan capital's most upmarket shopping centres,
Published 20 May, 2015 12:00am
Endo pushes further into generics with $8 billion Par Pharma buy

Endo pushes further into generics with $8 billion Par Pharma buy

Endo International Plc said it would buy Par Pharmaceutical Holdings Inc from private-equity firm TPG Capital for about $8 billion, including debt, to become a top-five global generic drugmaker. The deal will add about 100 approved generic drugs and about
Published 20 May, 2015 12:00am
Indonesia holds interest rates

Indonesia holds interest rates

Indonesia's central bank held its key interest rate steady on Tuesday for the third consecutive month despite slowing growth in Southeast Asia's biggest economy. Bank Indonesia's board of governors kept the rate at 7.50 percent, in line with most economis
Published 20 May, 2015 12:00am
Insurance Ordinance, 2000: CCP recommends amendment in Section 166

Insurance Ordinance, 2000: CCP recommends amendment in Section 166

The Competition Commission of Pakistan (CCP) has recommended amendment in section 166 of the Insurance Ordinance, 2000, which currently bars competition in the non-life insurance market by extending exclusive rights to the National Insurance Company Limit
Published 20 May, 2015 12:00am
Manhandling cops Cleric, students yet to be arrested

Manhandling cops Cleric, students yet to be arrested

The city police have yet to arrest Maulana Zahoor Ahmad Alvi, chief cleric of Jamia Muhammadia, and some seminary students who allegedly manhandled police personnel when they tried to arrest them for putting up banners against Minister for Information and
Published 20 May, 2015 12:00am
PAAPAM urges FBR to withdraw RD on raw material

PAAPAM urges FBR to withdraw RD on raw material

Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has approached Chairman Federal Board of Revenue (FBR) for immediate withdrawal of regulatory duty on imports of raw materials - CRC/HRC/Pipes/Tubes by auto parts manufacturers
Published 20 May, 2015 12:00am
PAAPAM urges FBR to withdraw RD on raw material

PAAPAM urges FBR to withdraw RD on raw material

Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has approached Chairman Federal Board of Revenue (FBR) for immediate withdrawal of regulatory duty on imports of raw materials - CRC/HRC/Pipes/Tubes by auto parts manufacturers
Published 20 May, 2015 12:00am
Lack of quorum disrupts KP PA proceeding

Lack of quorum disrupts KP PA proceeding

Lack of quorum once again disrupted the proceeding of the Khyber Pakhtunkhwa Assembly and the proceeding was adjourned for a period of two days. KP Assembly on Tuesday resumed proceeding after a break of six days with speaker, Asad Qaiser in the chair. Ho
Published 20 May, 2015 12:00am
Zardari visits Peshawar, tries to end party's internal differences

Zardari visits Peshawar, tries to end party's internal differences

Pakistan People's Party (PPP) Co-Chairman and former President Asif Ali Zardari visited Peshawar on Tuesday with the objective of ending internal differences within the provincial chapter of the party ahead of the local bodies' elections in the province.
Published 20 May, 2015 12:00am
Imran suspends political activities in KP till LB polls

Imran suspends political activities in KP till LB polls

The KP government on Tuesday announced that PTI Chief Imran Khan has suspended all political activities in the province till Local Bodies' polls. This was announced by Provincial Minister for Information Mushtaq Ahmad Ghani while addressing a press confer
Published 20 May, 2015 12:00am
Cannes denies high-heel rule for women on red carpet

Cannes denies high-heel rule for women on red carpet

Cannes Film Festival organisers denied a report Tuesday that they were enforcing a strict high-heel rule for women on the event's legendary red carpet after a storm of protest on social media. In what was meant to be a good year for women at cinema's top
Published 20 May, 2015 12:00am
Long clean-up, fading hope after Colombia landslide
Libor

Long clean-up, fading hope after Colombia landslide

Residents of the Colombian town hit by a massive landslide began a difficult clean-up Tuesday, as rescuers resumed the increasingly hopeless search for those still missing after a disaster that claimed at least 64 lives. After spending the night in shelte
Published 20 May, 2015 12:00am
Red Cross appeals for restraint as Burundi unrest drags on

Red Cross appeals for restraint as Burundi unrest drags on

The Red Cross on Tuesday called for restraint in Burundi in the aftermath of a failed coup and expressed "serious concern" over the continuing violence. The appeal came as protesters opposed to President Pierre Nkurunziza's bid to secure a third term pres
Published 20 May, 2015 12:00am
Iran says can't afford Ahmadinejad cash handouts

Iran says can't afford Ahmadinejad cash handouts

Iran can no longer sustain the billions of dollars needed to pay cash handouts enacted by former president Mahmoud Ahmadinejad, a top official said Tuesday, signalling plans to halt them. Since coming to power in 2013, Hassan Rouhani, Ahmadinejad's succes
Published 20 May, 2015 12:00am
Bomb outside Afghan Justice Ministry kills five, wounds dozens

Bomb outside Afghan Justice Ministry kills five, wounds dozens

A car bomb exploded in the parking lot of Afghanistan's Ministry of Justice on Tuesday, killing at least five people and wounding dozens as civil servants in Kabul were leaving work for the day, officials said. The Taliban claimed responsibility for the t
Published 20 May, 2015 12:00am
Yemen meet backs 'resistance', plans political future

Yemen meet backs 'resistance', plans political future

A conference of Yemeni political factions on Tuesday vowed support for "resistance" forces battling anti-government rebels, while laying a political foundation for the country's future. "We support this resistance to go on fighting", exiled President Abed
Published 20 May, 2015 12:00am
China, Brazil unveil multibillion trade, investment deals

China, Brazil unveil multibillion trade, investment deals

Chinese Premier Li Keqiang lifted the wraps Tuesday on a multibillion series of trade and investment deals with Brazil, as Beijing looks to invest some $50 billion in South America's largest economy. The news unveiled on the Chinese official visit is a hu
Published 20 May, 2015 12:00am
Ukraine takes first step toward debt payment freeze

Ukraine takes first step toward debt payment freeze

Ukraine's cash-starved government took the first step Tuesday toward freezing the payment of billions of dollars in sovereign and state-backed debt owed to some of the world's most powerful creditors. The war-torn country is trying to reach an agreement b
Published 20 May, 2015 12:00am
Ukraine takes first step toward debt payment freeze

Ukraine takes first step toward debt payment freeze

Ukraine's cash-starved government took the first step Tuesday toward freezing the payment of billions of dollars in sovereign and state-backed debt owed to some of the world's most powerful creditors. The war-torn country is trying to reach an agreement b
Published 20 May, 2015 12:00am
Merkel and Hollande urge speedy Greece deal
Currency

Merkel and Hollande urge speedy Greece deal

The German and French leaders Tuesday joined growing calls for debt-wracked Greece to quickly reach a deal with its creditors and avoid default, as crisis talks continued "day and night".
Published 20 May, 2015 12:00am
Merkel and Hollande urge speedy Greece deal
Currency

Merkel and Hollande urge speedy Greece deal

The German and French leaders Tuesday joined growing calls for debt-wracked Greece to quickly reach a deal with its creditors and avoid default, as crisis talks continued "day and night".
Published 20 May, 2015 12:00am
Disappointing growth brings German investor sentiment down to earth

Disappointing growth brings German investor sentiment down to earth

Investor sentiment in Germany is at its lowest level in five months after weaker-than-expected growth in the first quarter begins to deflate exaggerated expectations for Europe's biggest economy, data showed on Tuesday. After already slipping last month,
Published 20 May, 2015 12:00am
Wal-Mart sales miss expectations as shoppers pocket savings

Wal-Mart sales miss expectations as shoppers pocket savings

Wal-Mart Stores Inc on Tuesday became the latest US retailer to report weaker-than-expected quarterly sales, saying consumers were pocketing tax refunds and savings from cheaper gasoline rather than buying unnecessary items.
Published 20 May, 2015 12:00am
Robust US housing data offers hope for second quarter growth

Robust US housing data offers hope for second quarter growth

US housing starts jumped to their highest level in nearly 7-1/2 years in April and building permits soared, hopeful signs for an economy that is struggling to regain strong momentum after a dismal first quarter. The strength in housing is in stark contras
Published 20 May, 2015 12:00am
Teachers strike in France to protest school reforms

Teachers strike in France to protest school reforms

Teachers in France went on strike Tuesday to protest against a proposed reform of secondary education that has become a bitter battleground for one of the country's rising political stars. Education Minister Najat Vallaud-Belkacem, 37, has come under fire
Published 20 May, 2015 12:00am
Mongolia and Rio Tinto sign Oyu Tolgoi deal

Mongolia and Rio Tinto sign Oyu Tolgoi deal

Anglo-Australian mining giant Rio Tinto and Mongolia agreed a multi-billion-dollar expansion of a vast copper and gold mine, officials said Tuesday, ending a two-year dispute as Ulan Bator seeks to restore its foreign investor appeal. The deal on the unde
Published 20 May, 2015 12:00am
Faster ECB money-printing excites investors
Currency

Faster ECB money-printing excites investors

The European Central Bank will accelerate the pace of money printing to buy government bonds over the next two months, one of its top officials said, while voicing concern about recent swings on bond markets. The comments from Benoit Coeure, initially mad
Published 20 May, 2015 12:00am
Sri Lankan shares at 11-week high

Sri Lankan shares at 11-week high

Sri Lankan shares closed at their highest level in 11 weeks on Tuesday, led by banking and diversified stocks on the back of strong earnings, brokers said. The main stock index rose 0.15 percent, or 11.18 points, to close at 7,266.20, its highest close si
Published 20 May, 2015 12:00am
Nikkei index back above 20,000 mark

Nikkei index back above 20,000 mark

Tokyo stocks rose 0.68 percent Tuesday, with the benchmark index back above 20,000 thanks to a weaker yen and record-setting advances on Wall Street. The Nikkei 225 at the Tokyo Stock Exchange climbed 136.11 points to 20,026.38, ending above the psycholog
Published 20 May, 2015 12:00am
Dow, S&P close at record highs as rate-hike angst abates

Dow, S&P close at record highs as rate-hike angst abates

The Dow Jones industrial average and S&P 500 ended at record highs on Monday, helped by a rally in Apple as well as tepid economic data suggesting the Federal Reserve may wait to raise interest rates. The S&P 500 racked up its third straight all-time high
Published 20 May, 2015 12:00am
Hong Kong shares track mainland market higher

Hong Kong shares track mainland market higher

Hong Kong stocks rose on Tuesday, led by Chinese companies, as excitement in mainland markets over accelerated economic reform and financial deregulation rippled across the border. The Hang Seng index ended up 0.4 percent at 27,693.54 points, while the Ch
Published 20 May, 2015 12:00am
US bond prices skid on profit-taking

US bond prices skid on profit-taking

US Treasuries prices fell on Monday as traders booked profits on last week's gains tied to disappointing data that supported expectations the Federal Reserve might postpone raising interest rates until 2016. Weakness in European government debt markets ad
Published 20 May, 2015 12:00am
US bond prices skid on profit-taking

US bond prices skid on profit-taking

US Treasuries prices fell on Monday as traders booked profits on last week's gains tied to disappointing data that supported expectations the Federal Reserve might postpone raising interest rates until 2016. Weakness in European government debt markets ad
Published 20 May, 2015 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.7 percent in early trade on Tuesday, joining other regional bourses in gains, with Apple Inc supplier Hon Hai Precision trading higher on a media report the company is set to pay a record cash dividend to investors. About 15 minutes i
Published 20 May, 2015 12:00am
Indian stocks slightly lower

Indian stocks slightly lower

Indian shares closed slightly lower on Tuesday as investors booked profits on blue chips such as Tata Motors Ltd and Oil and Natural Gas Corp after two sessions of gains. Overall, traders said sentiment was improving after a volatile April, given rising e
Published 20 May, 2015 12:00am
China stocks rise the most in four months

China stocks rise the most in four months

China stocks jumped over 3 percent on Tuesday, their biggest one-day gain in four months, with financial shares leading the charge after Beijing published guidelines for economic reform that prioritise further opening of the country's capital market and t
Published 20 May, 2015 12:00am
European shares return to near multi-year highs

European shares return to near multi-year highs

European shares rose back to near multi-year highs on Tuesday after a European Central Bank policymaker said it would front-load an asset purchase scheme aimed at boosting the euro economy.
Published 20 May, 2015 12:00am
Australian shares drop

Australian shares drop

Australian shares dropped for a second consecutive session on Tuesday as renewed weakness in iron ore weighed on sentiment, while New Zealand stocks edged lower. The S&P/ASX 200 index closed down 0.8 percent at 5,615.2 points, a whisker away from a three-
Published 20 May, 2015 12:00am
SE Asian markets: Indonesia at three-week high

SE Asian markets: Indonesia at three-week high

Indonesian shares hit a three-week closing high on Tuesday after the central bank held policy interest rate steady as expected, with lending rules eased to boost economy, while the Thai key index ended near a three-week, led by large caps. Jakarta composi
Published 20 May, 2015 12:00am
Britain's FTSE gains, Land Securities up after dividend hike

Britain's FTSE gains, Land Securities up after dividend hike

Britain's top share index rose on Tuesday, led by Land Securities which raised its dividend payout and helped offset a drop in heavily weighted miners and telecoms firm Vodafone. The blue chip FTSE 100 index was up 26.23 points, or 0.4 percent at 6,995.10
Published 20 May, 2015 12:00am
KP chief minister suspends MS, DMS of Mian Rashid Shaheed Hospital

KP chief minister suspends MS, DMS of Mian Rashid Shaheed Hospital

Chief Minister Khyber Pakhtunkhwa Pervez Khattak paid a surprise visit to Mian Rashid Shaheed Hospital, Pabbi District Nowshera on Tuesday afternoon and suspended Medical Superintendent (MS) and Deputy Medical Superintendent (DMS) for their absence from d
Published 20 May, 2015 12:00am
KP RTA launches crackdown against illegal bus stands

KP RTA launches crackdown against illegal bus stands

KP Regional Transport Authority (RTA) has launched crackdown against illegal bus stands here on Tuesday. According to details on the directives of the provincial government, Director RTA Manzoor Ahmad and Secretary RTA Niamatullah Khan along with traffic
Published 20 May, 2015 12:00am
Pakistan concerned over death sentence to Morsi

Pakistan concerned over death sentence to Morsi

Pakistan on Tuesday expressed concern over award of death sentence to former elected President of Egypt Mohamad Morsi along with 100 others by the country's court and called for steps to meet the requirements of justice under law.
Published 20 May, 2015 12:00am
Pak-US cooperation heading in right direction: Aziz

Pak-US cooperation heading in right direction: Aziz

Adviser to the Prime Minister on National Security and Foreign Affairs Sartaj Aziz on Tuesday noted that Pakistan-US co-operation is heading in the right direction especially in defence, economy and energy sectors.
Published 20 May, 2015 12:00am
Maulana Tariq Jameel delivers motivational lecture to FBR officers

Maulana Tariq Jameel delivers motivational lecture to FBR officers

Renowned Islamic scholar Maulana Tariq Jameel talked on "Morality, ethics and public service delivery" to the FBR officers in Karachi. His talk highlighted the values of honesty, integrity, truthfulness and strength of character as being the hallmark of p
Published 20 May, 2015 12:00am
Operation Burq: KE takes action against defaulters, thieves

Operation Burq: KE takes action against defaulters, thieves

K-Electric officials along with Federal Investigation Agency (FIA), Sindh police and Rangers have taken strict action against defaulters and electricity thieves in various areas of Karachi in KE's ongoing campaign 'Operation Burq'.
Published 20 May, 2015 12:00am
First Shaban today

First Shaban today

Shaban moon has been sighted and the first of Shaban will fall on Wednesday. This was announced by Chairman of the Central Ruet-e-Hilal committee Mufti Munib-ur-Rehman here on Tuesday. Earlier the central committee met at the Met Complex under the chairma
Published 20 May, 2015 12:00am
Mirza allowed to go home as police end ATC's siege

Mirza allowed to go home as police end ATC's siege

Karachi police have finally ended Anti-Terror Court's (ATC) siege and allowed former Home Minister of Sindh Zulfiqar Mirza to go home. Mirza has now reached home. Sindh High Court has issued show cause notice to IG Sindh and DIG South for besieging the AT
Published 20 May, 2015 12:00am
US drone attack condemned

US drone attack condemned

A US drone strike in the Spinkai Raghzai area of North Waziristan Agency on 18 May 2015 resulted in casualties. We condemn such strikes which are in disregard of our territorial sovereignty and international law.
Published 20 May, 2015 12:00am
PAF chief visits Masroor Base

PAF chief visits Masroor Base

Chief of the Air Staff (CAS), Pakistan Air Force (PAF), Air Chief Marshal Sohail Aman visited PAF Base Masroor (Karachi) on Tuesday. Upon his arrival at the Base, the Air Chief was presented with Guard of Honour by a smartly turned out contingent.
Published 20 May, 2015 12:00am
PBIF seeks special incentives package for SME sector

PBIF seeks special incentives package for SME sector

Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain has asked the government to announce special incentives package for the Small and Medium Enterprises (SMEs) sector in the next budget. He said that the sector having 40 perce
Published 20 May, 2015 12:00am
PTCL introduces EVO Double-Volume Double Fun Offer

PTCL introduces EVO Double-Volume Double Fun Offer

Pakistan Telecommunication Company Limited (PTCL) has introduced EVO Double-Volume Double Fun Offer for its valued customers. The new offer by the company enables both existing and new subscribers of 3G EVO Wingle 9.3 and CharJi EVO LTE to enjoy twice the
Published 20 May, 2015 12:00am
Need for reforms to increase tax ratio emphasised

Need for reforms to increase tax ratio emphasised

Parliamentary Secretary of Ministry of Finance, Rana Muhammad Afzal Tuesday emphasised the need for tax reforms to raise abysmally low increase in the tax ratio of Pakistan in the region.
Published 20 May, 2015 12:00am
Disconnection ordered

Disconnection ordered

Managing Director SNGPL, M. Arif Hameed in continuity of the strict policy of disconnecting gas bill defaulters ordered to disconnect govt/special domestic defaulting consumers. In order to recover outstanding dues from Govt. defaulting / special domestic
Published 20 May, 2015 12:00am
IOT workshop starts at SU

IOT workshop starts at SU

The second five-day workshop as part of a series of a five-week-long different indigenous on campus training (IOT) workshops for Management Cadre (BPS-16 and above) started at University of Sindh (SU), Jamshoro, here on Tuesday amidst rounds of applauses
Published 20 May, 2015 12:00am
SU prepares vaccination to save life from snake-biting

SU prepares vaccination to save life from snake-biting

University of Sindh has prepared the vaccination to save life from snake-biting through its serology laboratory established at Institute of Bio-Chemistry. The production has been named as Anti Snake Venom (ASV). Acquiring adequate experience in producing
Published 20 May, 2015 12:00am
Sindh government gives top priority to health, education: Qaim

Sindh government gives top priority to health, education: Qaim

Chief Minister Sindh, Syed Qaim Ali Shah has said that the PPP-led provincial government has given top priority to health and education in the province as it established nine universities including four medical universities and besides Lyari Medical Colle
Published 20 May, 2015 12:00am
Naval Chief meets Prime Minister

Naval Chief meets Prime Minister

Chief of Naval Staff, Admiral Muhammad Zakaullah called on Prime Minister Nawaz Sharif at the PM House, here on Tuesday. Professional matters related to Pakistan Navy were discussed during the meeting, said a press release issued from PM House.
Published 20 May, 2015 12:00am
Microsoft brings exciting consumer promotion for its customers

Microsoft brings exciting consumer promotion for its customers

Microsoft Mobile Devices & Services (MMDS) is launching a massive campaign to enhance the Lumia portfolio in Pakistan. With "LumiaJeetKaKhazana", every customer buying a Microsoft Lumia 535 dual SIM, Microsoft Lumia 430 and Microsoft Lumia 640XL smartphon
Published 20 May, 2015 12:00am
Business community condoles Indonesian envoy's death

Business community condoles Indonesian envoy's death

Businessmen Group Chairman and former President KCCI, Siraj Kassam Teli, along with BMG Vice-Chairman Anjum Nisar, KCCI President Iftikhar Ahmed Vohra, KCCI Senior Vice-President Muhammad Ibrahim Kasumbi and former KCCI VP Muhammad Idrees visited the Cons
Published 20 May, 2015 12:00am
Safoora bus attack: four prime suspects arrested from Nawabshah: Qaim

Safoora bus attack: four prime suspects arrested from Nawabshah: Qaim

Four prime suspects involved in an attack on a bus of Ismaili Community in Safoora Chowrangi of Karachi were arrested here on Tuesday. Talking to media persons Chief Minister, Sindh, Syed Qaim Ali Shah said that the police continued raids and operation ag
Published 20 May, 2015 12:00am
Sri Lanka central bank allows rupee to fall
Currency

Sri Lanka central bank allows rupee to fall

Sri Lanka's central bank allowed the rupee to fall by 0.15 percent on Tuesday by guiding a daily trading band lower, the fourth downward adjustment since April 30, a move dealers said reflected lower domestic interest rates and a broadly strong dollar. De
Published 20 May, 2015 12:00am
Dollar stays up in Asia
Currency

Dollar stays up in Asia

The dollar held firm on Tuesday in the wake of a rise in US bond yields and as the euro came under renewed pressure on persistent worries that Greece may miss debt repayments next month. The dollar last traded at 94.205 versus a basket of six major curren
Published 20 May, 2015 12:00am
Euro dives under $1.12 in Europe
Currency

Euro dives under $1.12 in Europe

The euro dived back below $1.12 on Tuesday after European Central Bank officials said the bank could take further action to lower euro zone bond yields and boost inflation, potentially flooding the market with yet more euros. Sterling also skidded, sheddi
Published 20 May, 2015 12:00am
Dollar recoups lost ground in New York
Currency

Dollar recoups lost ground in New York

The US dollar made broad-based gains on Monday, recovering ground after several weeks of selling that had brought the greenback down to more attractive levels after prolonged strength. The euro, which rose nearly 9 percent in value against the US dollar i
Published 20 May, 2015 12:00am
Most emerging Asian currencies slip
Currency

Most emerging Asian currencies slip

Most emerging Asian currencies slid on Tuesday as persistent anxiety over Greece's debt problems and further volatility in global debt markets dented risk sentiment. The Indonesian rupiah fell as some analysts warned of risk that the central bank could cu
Published 20 May, 2015 12:00am
Yuan drops
Currency

Yuan drops

China's yuan weakened against the dollar on Tuesday after the central bank set its daily guidance rate weaker following a string of fixes making 15-month highs. The People's Bank of China (PBOC) set the midpoint rate at 6.1098 per dollar prior to the mark
Published 20 May, 2015 12:00am
Sterling falls back after consumer prices drop
Currency

Sterling falls back after consumer prices drop

Sterling sank below $1.56 on Tuesday, hitting a one-week low as the dollar rebounded and data showed UK consumer prices fell last month from a year ago, the first annual decline since 1960. Two days of gains for the dollar, on its worst run in four years
Published 20 May, 2015 12:00am
New Zealand dollar rallies, Aussie up

New Zealand dollar rallies, Aussie up

The New Zealand dollar rallied on Tuesday after a closely watched survey of inflation expectations showed an unexpected rise, tempering speculation about a near-term cut in interest rates there. The bounce helped the Australian dollar recoup losses suffer
Published 20 May, 2015 12:00am
Iraq deploys tanks as Islamic State tightens grip on Ramadi

Iraq deploys tanks as Islamic State tightens grip on Ramadi

Iraqi security forces on Tuesday deployed tanks and artillery around Ramadi to confront Islamic State fighters who have captured the city in a major defeat for the Baghdad government and its Western backers. After Ramadi fell on Sunday, Shia militiamen al
Published 20 May, 2015 12:00am
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