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Print - 2015-07-04
Cotton market: spot rate falls modestly amid slow trading
Cotton

Cotton market: spot rate falls modestly amid slow trading

Official spot rate dropped modestly on the cotton market on Friday in the process of subdued business, dealers said. The official spot rate continued weakness, falling Rs 50 to Rs 4850, dealers said. Seed cotton prices in Sindh and Punjab were at Rs 2400-
Published 04 Jul, 2015 12:00am
No change on grain market

No change on grain market

According to the Daily Market Report by the Wholesale Grain Merchant Group, no change was seen on the local commodity market on Friday.
Published 04 Jul, 2015 12:00am
Kazakh grain exports drop to 6.444 million tonnes

Kazakh grain exports drop to 6.444 million tonnes

Kazakhstan's grain exports dropped by a quarter to 6.444 million tonnes in the 2014/15 marketing year, which ended on June 30, after harsh weather severely damaged the quality of the crop in late 2014, early Agriculture Ministry data showed on Thursday. I
Published 04 Jul, 2015 12:00am
Japan urges banks to reduce cross-shareholdings

Japan urges banks to reduce cross-shareholdings

Japan's financial regulator urged the country's biggest banks to reduce their cross-shareholdings, warning that their heavy exposure to the equity markets poses risks to their capital. The cross-shareholdings of Japan's three largest banks are equivalent
Published 04 Jul, 2015 12:00am
Japan urges banks to reduce cross-shareholdings

Japan urges banks to reduce cross-shareholdings

Japan's financial regulator urged the country's biggest banks to reduce their cross-shareholdings, warning that their heavy exposure to the equity markets poses risks to their capital. The cross-shareholdings of Japan's three largest banks are equivalent
Published 04 Jul, 2015 12:00am
RBS could face $13 billion bill in US mortgage bond case

RBS could face $13 billion bill in US mortgage bond case

State-backed Royal Bank of Scotland may need to pay $13 billion to settle claims it misled investors in mortgage-backed securities, according to documents filed in a US court. The size of the potential settlement could make it more difficult for Britain's
Published 04 Jul, 2015 12:00am
RBS could face $13 billion bill in US mortgage bond case

RBS could face $13 billion bill in US mortgage bond case

State-backed Royal Bank of Scotland may need to pay $13 billion to settle claims it misled investors in mortgage-backed securities, according to documents filed in a US court. The size of the potential settlement could make it more difficult for Britain's
Published 04 Jul, 2015 12:00am
Canadian economy heading for recession

Canadian economy heading for recession

The Canadian economy is likely headed for recession, two major banks said Thursday, predicting a successive contraction in the second quarter. Canada, the world's fifth-biggest oil producer, has been hard hit by tumbling global oil prices and its economy
Published 04 Jul, 2015 12:00am
M&A on the way as Italy's popolari pursue courtship

M&A on the way as Italy's popolari pursue courtship

Italy could have a new top three bank behind Unicredit and Intesa Sanpaolo by the end of next year as the country's co-operative lenders size each other up for take-over. After initially baulking at new governance rules that make it easier for them to be
Published 04 Jul, 2015 12:00am
Uber suspends controversial UberPOP service in France

Uber suspends controversial UberPOP service in France

After a spate of violent protests and the arrest of two bosses, Uber finally suspended its controversial low-cost UberPOP private driver service in France on Friday, six months after it was banned. "Uber has decided to immediately suspend UberPOP in Franc
Published 04 Jul, 2015 12:00am
UK to curb protection for savers, blames EU rules
Currency

UK to curb protection for savers, blames EU rules

British savers will have less of their money protected if a bank fails next year, the government said on Friday, blaming European Union rules which one senior lawmaker called "absurd". Relations between Britain and the EU are already tense. Prime Minister
Published 04 Jul, 2015 12:00am
China's Geely invests in Iceland methanol factory

China's Geely invests in Iceland methanol factory

Chinese group Geely, the owner of Swedish carmaker Volvo, said Friday it had become a major shareholder in an Icelandic company that operates the world's first renewable methanol fuel plant. Geely said it would invest $45.5 million (41 million euros) over
Published 04 Jul, 2015 12:00am
France, Angola sign business deals from oil to hotels

France, Angola sign business deals from oil to hotels

France and Angola on Friday signed business agreements covering a wide range of economic sectors from oil to hotels, which are potentially worth several hundred million dollars, French officials said. At the head of a delegation of about 50 French company
Published 04 Jul, 2015 12:00am
China's sovereign wealth fund expands by $93 billion

China's sovereign wealth fund expands by $93 billion

Sovereign wealth fund China Investment Corp (CIC) saw its total assets soar by $93 billion to nearly $750 billion last year, it said Friday, although subdued global growth slowed returns on its overseas portfolio. CIC was created in 2007 with $200 billion
Published 04 Jul, 2015 12:00am
US health insurance giant Aetna to buy Humana for $37 billion

US health insurance giant Aetna to buy Humana for $37 billion

US health insurance giant Aetna will buy rival Humana for $37 billion (33.3 billion euros), a statement issued Friday by both companies said, creating a group with estimated annual sales of $115 billion. Aetna, the second-largest US health insurance playe
Published 04 Jul, 2015 12:00am
Spain raises growth forecast, unemployment falls in June
Currency

Spain raises growth forecast, unemployment falls in June

Spain's conservative government raised its growth forecast on Thursday for both this year and next, as official data showed registered unemployment fell for the fifth straight month in June. Prime Minister Mariano Rajoy said his government, which is facin
Published 04 Jul, 2015 12:00am
Sri Lanka likely to keep rates steady until polls

Sri Lanka likely to keep rates steady until polls

Sri Lanka's central bank is likely to keep key monetary policy rates steady until August 17 parliamentary polls, but there could be a significant cut later if a stable government is elected, Governor Arjuna Mahendran told Reuters on Friday. President Mait
Published 04 Jul, 2015 12:00am
Thai crackdown on illegal fishing threatens industry

Thai crackdown on illegal fishing threatens industry

Around 5,000 Thai fishing boats have stopped operating out of fear they will be prosecuted over new rules, a fisheries body said Thursday, as authorities crackdown to avoid a European Union ban on fish products. The belated clampdown on illegal fishing, w
Published 04 Jul, 2015 12:00am
Britain to cut bank deposit protection by 10,000 pounds
Currency

Britain to cut bank deposit protection by 10,000 pounds

Britain is reducing the maximum bank deposit it will protect if a lender fails by 10,000 pounds to 75,000 pounds ($117,255) from the end of this year, the Bank of England said on Friday. European Union law requires member states to protect no more and no
Published 04 Jul, 2015 12:00am
Economists see deeper New Zealand central bank rate cuts

Economists see deeper New Zealand central bank rate cuts

New Zealand's central bank is expected to unwind all of last year's rate rises by the end of the year as sliding dairy prices, slowing activity and plunging confidence prompt economists to lower their forecasts, and even talk recession. Four local analyst
Published 04 Jul, 2015 12:00am
Samsung Group companies' merger deal runs into fresh opposition

Samsung Group companies' merger deal runs into fresh opposition

The proposed $8 billion merger of two Samsung Group companies came under attack from two directions on Friday, as an activist hedge fund filed a court action against the deal and a shareholder advisory group recommended shareholders oppose it. In a rare c
Published 04 Jul, 2015 12:00am
Danish companies turn to taxman to avoid negative interest rates

Danish companies turn to taxman to avoid negative interest rates

Cash rich Danish companies in an era of negative interest rates may be paying more tax than they owe to take advantage of the better rates paid by the taxman on overpayments. Danish companies paid 21.6 billion Danish crowns ($3.2 billion) in corporate tax
Published 04 Jul, 2015 12:00am
South Africa's private-sector activity falls in June

South Africa's private-sector activity falls in June

Output and new orders in South Africa's private sector declined at their sharpest rates in nearly a year as the economy weakened and demand subsided, a survey showed on Friday. South Africa's Standard Bank Purchasing Managers' Index (PMI) fell to 49.2 in
Published 04 Jul, 2015 12:00am
Only one in 10 rural India homes has fridge

Only one in 10 rural India homes has fridge

The main breadwinner in three-quarters of households in rural India makes less than $80 a month while barely one in 10 homes has a refrigerator, a survey showed Friday. While living standards have grown rapidly in India's towns and cities in the last two
Published 04 Jul, 2015 12:00am
Tokyo stocks soar

Tokyo stocks soar

Tokyo stocks ended slightly higher Friday, clawing back early losses after a mixed US jobs report, while investors look ahead to Greece's weekend bailout referendum, which could decide its future in the eurozone. The benchmark Nikkei 225 index at the Toky
Published 04 Jul, 2015 12:00am
Sri Lankan shares up

Sri Lankan shares up

Sri Lankan shares recovered on Friday from a 11-week low hit in the previous session led by market heavyweight John Keells Holdings while turnover hit a more-than-seven-week high due to a block deal in Textured Jersey Lanka. Local investors were mostly on
Published 04 Jul, 2015 12:00am
Indian shares hit 2-1/2-month highs

Indian shares hit 2-1/2-month highs

Indian shares hit their highest in 2-1/2 months on Friday and posted their third consecutive weekly gain given a Greece default is seen as factored in, while better-than-expected progress of the monsoon also helped sentiment. Among gainers, HDFC Bank Ltd
Published 04 Jul, 2015 12:00am
Wall Street edged down on Greece worries, tepid US data

Wall Street edged down on Greece worries, tepid US data

US stocks closed down slightly on Thursday after the International Monetary Fund warned Greece ahead of its Sunday referendum that it faces a huge financial hole, and mixed jobs data dampened the US economic outlook. While the IMF was warning that Greece
Published 04 Jul, 2015 12:00am
US markets closed

US markets closed

The stocks, financial and commodity markets in US were closed on Friday to observe the Fourth of July holiday/US Independence Day. The markets will resume normally on Monday.
Published 04 Jul, 2015 12:00am
Hong Kong shares down

Hong Kong shares down

Hong Kong stocks fell on Friday, with sentiment soured by slumping shares in China and the Greek debt crisis. The Hang Seng index fell 0.8 percent to 26,064.11, while the China Enterprises Index lost 1.4 percent to 12,608.98. Chinese stocks plunged again
Published 04 Jul, 2015 12:00am
Treasuries move up
Currency

Treasuries move up

US Treasuries prices rose on Thursday, rebounding from the prior day's selloff, as data showed an improving labour market cooled in June, raising doubts whether the Federal Reserve would end its near-zero interest rate policy later this year. The governme
Published 04 Jul, 2015 12:00am
Treasuries move up
Currency

Treasuries move up

US Treasuries prices rose on Thursday, rebounding from the prior day's selloff, as data showed an improving labour market cooled in June, raising doubts whether the Federal Reserve would end its near-zero interest rate policy later this year. The governme
Published 04 Jul, 2015 12:00am
Australian shares lower

Australian shares lower

Australian shares ended the week with a whimper as investors took some risk off the table ahead of a referendum in Greece that could decide the country's future in the euro zone. The S&P/ASX 200 index fell 1.1 percent on Friday to 5,538.3, finishing the w
Published 04 Jul, 2015 12:00am
Foreign investors dump Philippine shares at record speed

Foreign investors dump Philippine shares at record speed

Philippine shares, a favourite among emerging-market investors not too long ago, were under siege in April-to-June, with net foreign selling rising to the highest since the 1998 Asian crisis and exceeding outflows from some major stock markets in the regi
Published 04 Jul, 2015 12:00am
Southeast Asian stocks mostly higher

Southeast Asian stocks mostly higher

Most Southeast Asian stock markets rose on Friday as inflows into large-caps and financials helped the Indonesian benchmark to a two-week high while Vietnam outperformed in the region amid active buying in banking and energy shares. The Jakarta composite
Published 04 Jul, 2015 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks fell 0.7 percent in early trade on Friday, led by declines in heavyweights such as TSMC, as investors stayed cautious ahead of Greece's weekend referendum which may decide its future in Europe. About 15 minutes into trade, the main TAIEX ind
Published 04 Jul, 2015 12:00am
Eurozone yields fall before uncertain Greek vote

Eurozone yields fall before uncertain Greek vote

Eurozone yields fell on Friday as investors bet that even if Greeks vote `No' on Sunday in a referendum on their country's bailout terms, Greece would not automatically be forced out of the euro. A poll before Sunday's plebiscite showed a slim lead for op
Published 04 Jul, 2015 12:00am
Eurozone yields fall before uncertain Greek vote

Eurozone yields fall before uncertain Greek vote

Eurozone yields fell on Friday as investors bet that even if Greeks vote `No' on Sunday in a referendum on their country's bailout terms, Greece would not automatically be forced out of the euro. A poll before Sunday's plebiscite showed a slim lead for op
Published 04 Jul, 2015 12:00am
FTSE marks biggest weekly drop in a month
Currency

FTSE marks biggest weekly drop in a month

Britain's bluechip share index marked its biggest weekly drop in a month on Friday, with miners slipping on a slowdown in China and banks falling after Brazil said it was investigating some global lenders' currency market activity. The index fell broadly
Published 04 Jul, 2015 12:00am
China's yuan eases
Currency

China's yuan eases

China's yuan weakened on Friday as corporate dollar demand helped offset a stronger official guidance rate set by the central bank, traders said. The People's Bank of China (PBOC) set the midpoint rate at 6.1160 per dollar prior to market open, 0.02 perce
Published 04 Jul, 2015 12:00am
Dollar flat, euro up in Asia
Currency

Dollar flat, euro up in Asia

The dollar stuck around the previous session's levels in Asian trading on Friday, as disappointing US employment data and caution ahead of Greece's referendum on bailout conditions kept the market mood subdued. Against its Japanese counterpart, the dollar
Published 04 Jul, 2015 12:00am
Dollar broadly slips in New York
Currency

Dollar broadly slips in New York

The US dollar slipped against a basket of major currencies on Thursday after disappointing US jobs data pushed out bets for a Federal Reserve rate hike to 2016, while caution ahead of this weekend's Greek referendum limited losses. Nonfarm payrolls increa
Published 04 Jul, 2015 12:00am
Sri Lankan spot rupee steady
Currency

Sri Lankan spot rupee steady

The Sri Lankan rupee ended steady on Friday as remittances offset importer dollar demand, while a state-run bank, through which the central bank usually directs the market, sold dollars at 133.60, dealers said. On Thursday, the state bank lowered the doll
Published 04 Jul, 2015 12:00am
Weak US jobs support Asia FX
Currency

Weak US jobs support Asia FX

Most emerging Asian currencies rose on Friday after disappointing US job data but their outlook stayed bearish on expectations of interest rate hikes by the Federal Reserve later this year and concern about Greece's debt crisis. However, Malaysia's ringgi
Published 04 Jul, 2015 12:00am
South Africa's rand wilts

South Africa's rand wilts

The rand slipped against the dollar on Friday as domestic data continued to disappoint in a week where the frailties of South Africa's economy showed. By 1515 GMT the rand had weakened 0.49 percent to 12.3100 against a greenback struggling on the back of
Published 04 Jul, 2015 12:00am
Sterling dips, seen at risk from Greek referendum

Sterling dips, seen at risk from Greek referendum

Sterling fell on Friday with activity thinned by a US holiday and by nervousness ahead of Greece's referendum on accepting or rejecting international creditors' conditions for aid. The pound, which has gained in six of the eight weeks since Britain's May
Published 04 Jul, 2015 12:00am
Aussie falls, New Zealand dollar steadies

Aussie falls, New Zealand dollar steadies

The Australian dollar fell to its lowest in nearly three months on Friday as disappointing retail sales data weighed on a market already on the defensive ahead of the Greek referendum this weekend. A holiday in the United States on Friday meant that inves
Published 04 Jul, 2015 12:00am
ICE cotton hits 11-month high but falls on profit-taking
Cotton

ICE cotton hits 11-month high but falls on profit-taking

ICE cotton futures hit their highest levels in 11 months after the release of US export sales figures on Thursday but ended the day lower as speculator buying cooled after sharp gains in recent days, and investors took profits ahead of the long weekend. "
Published 04 Jul, 2015 12:00am
Shanghai copper up

Shanghai copper up

Shanghai Futures Exchange copper ended up half a percent at 42,380 yuan ($6,832) a tonne on Friday. A trader said funds had been closing short copper positions to fund margin calls in equities. Traders said concerns over Greece and slowing growth in China
Published 04 Jul, 2015 12:00am
Copper tracks equity markets lower, for now
Currency

Copper tracks equity markets lower, for now

Copper slipped on Friday alongside other markets on worries about the fallout from Greece, but losses are likely to be capped by a weaker dollar and expectations that further price falls could lead to production cuts. Greece will vote on Sunday in a bailo
Published 04 Jul, 2015 12:00am
Oil slides in thin trade on rising US rig count

Oil slides in thin trade on rising US rig count

Oil prices dropped on Friday as a rising US rig count stoked more concern about global oversupply while the opening of an investigation by Chinese regulators into suspected stock market manipulation further unsettled the market. A sharp move lower in late
Published 04 Jul, 2015 12:00am
Rubber slips

Rubber slips

Benchmark Tokyo rubber futures skidded on Friday, hit by profit-taking after a slide in Shanghai futures and ahead of Greece's referendum on Sunday, and the contract marked a fifth straight weekly loss amid nagging worries about a supply glut. The Tokyo C
Published 04 Jul, 2015 12:00am
Palm oil surges
Vegetable Oil

Palm oil surges

Malaysian palm oil hit a one-week peak on Friday, tracking rival vegetable oils higher with support from a weak ringgit, but eased in light afternoon trade to levels nearer Thursday's close to end the week down slightly. The September palm oil contract on
Published 04 Jul, 2015 12:00am
Robusta coffee ends mostly higher

Robusta coffee ends mostly higher

Robusta coffee futures were mostly higher on Friday, though the closely watched front-month premium weakened in thin volumes with US markets shut. White sugar also rose and cocoa ended marginally lower. Robusta traders focused on the July/September spread
Published 04 Jul, 2015 12:00am
Gold slips in New York

Gold slips in New York

Gold on Thursday rebounded slightly from an earlier 3-1/2 month low after data showed the US labour market was weaker in June than expected, indicating that the Federal Reserve may hold off from raising interest rates in September. US job growth slowed in
Published 04 Jul, 2015 12:00am
Gold up in Asia

Gold up in Asia

Gold ticked up above a 3-1/2 month low on Friday, as sluggish US jobs data tempered expectations for a September rate hike by the Federal Reserve and hurt the dollar. Spot gold gained 0.2 percent to $1,168.26 an ounce by 0243 GMT. The metal fell to $1,156
Published 04 Jul, 2015 12:00am
Crop weather uncertainty lifts corn

Crop weather uncertainty lifts corn

US corn futures rose to a six-month peak on Thursday, adding to strong gains earlier in the week as adverse weather in parts of the US Midwest and Western Europe threatened crops. Prices for soyabeans and wheat were mixed as investors squared positions ah
Published 04 Jul, 2015 12:00am
Gold springs back in European trade

Gold springs back in European trade

Gold prices firmed on Friday, rebounding from a 3-1/2 month low as the dollar softened, while investors remained cautious ahead of Greece's referendum on an international bailout deal. Liquidity was thinner, with US markets closed for the Independence Day
Published 04 Jul, 2015 12:00am
South Africa lowers maize output forecast

South Africa lowers maize output forecast

South Africa lowered its 2015 maize output by almost one percent to 9.755 million tonnes on Tuesday, citing the slow pace of deliveries from the field to silos, the government's Crop Estimates Committee (CEC) said. The maize crop in the continent's bigges
Published 04 Jul, 2015 12:00am
Metals investors look for miners to cut supplies to lift prices

Metals investors look for miners to cut supplies to lift prices

Investors in industrial metals will keep a close watch on miners' results in coming weeks for possible announcements of production cutbacks that could bolster weak prices. "What will be very important over the next few weeks is whether we start to see som
Published 04 Jul, 2015 12:00am
Djokovic, Sharapova cruise into Wimbledon last 16

Djokovic, Sharapova cruise into Wimbledon last 16

Defending champion Novak Djokovic and 2004 winner Maria Sharapova swept into the Wimbledon fourth round Friday as controversial Australian Nick Kyrgios bolstered his reputation as the next generation's brightest star. Top seed Djokovic made the last 16 fo
Published 04 Jul, 2015 12:00am
Pacer Irfan recalled for Sri Lanka ODI series

Pacer Irfan recalled for Sri Lanka ODI series

Pacer Mohammad Irfan was recalled while batsman Umar Akmal, spinner Saeed Ajmal and paceman Junaid Khan were out, as a 16-member Pakistani squad for the five-match one-day international (ODI) series against Sri Lanka was announced on Friday. The five-matc
Published 04 Jul, 2015 12:00am
Faulkner facing drink-driving charge

Faulkner facing drink-driving charge

Australia all-rounder James Faulkner accepted Friday he had made an "error of judgement" after being charged with drink-driving by Greater Manchester Police while playing for English county side Lancashire. The 25-year-old has been released on bail and no
Published 04 Jul, 2015 12:00am
Slumping Nadal facing career endgame

Slumping Nadal facing career endgame

Rafael Nadal insists his career which has yielded 14 Grand Slam titles and $73 million is not finished, but evidence was mounting Friday that the Spaniard has reached the end of the road. The 29-year-old Nadal suffered a fourth successive Wimbledon exit a
Published 04 Jul, 2015 12:00am
Anelka takes on manager role of India club

Anelka takes on manager role of India club

Controversial former French striker Nicolas Anelka will return to Mumbai City FC to manage as well as play in the Indian Super League's second season, the player and club owner said Friday. The 36-year-old, who scored two goals in the first season, has al
Published 04 Jul, 2015 12:00am
Fraser-Pryce opts not to defend world 200m title in Beijing

Fraser-Pryce opts not to defend world 200m title in Beijing

Jamaican sprint star Shelly-Ann Fraser-Pryce said Friday she will not defend her world 200 metres title in Beijing next month and will just race the 100m. But the 28-year-old track star insisted that she will defend both gold medals at the Rio Olympics ne
Published 04 Jul, 2015 12:00am
UEFA eases restrictions on Manchester City, PSG

UEFA eases restrictions on Manchester City, PSG

UEFA has eased restrictions placed last year on big-spending Manchester City and Paris St Germain as part of its break-even financial fair play (FFP) rules, European soccer's governing body said on Friday. UEFA said it had also lifted "a number of restric
Published 04 Jul, 2015 12:00am
Karunaratne hits ton as Yasir takes four wickets

Karunaratne hits ton as Yasir takes four wickets

Sri Lanka's Dimuth Karunaratne hit a century amid another rich haul by Pakistani leg-spinner Yasir Shah as the decisive third and final Test began on a rousing note in Pallekele on Friday. The hosts, sent in to bat after Pakistan captain Misbah-ul Haq won
Published 04 Jul, 2015 12:00am
Tunisia Prime Minister admits police took too long to react to attack

Tunisia Prime Minister admits police took too long to react to attack

Tunisian Prime Minister Habib Essid told the BBC on Friday that police took too long to react to last week's jihadist attack that killed 38 people, mostly Britons. "The time of the reaction - this is the problem," Essid told the British broadcaster. Polic
Published 04 Jul, 2015 12:00am
1,400 India school teachers resign in fake degree probe

1,400 India school teachers resign in fake degree probe

Some 1,400 primary school teachers have quit in an eastern Indian state in recent months amid an ongoing investigation into fake qualifications, an education official said Friday. More resignations are likely before the end of an amnesty period that allow
Published 04 Jul, 2015 12:00am
Obama to host head of Vietnam communist party

Obama to host head of Vietnam communist party

The head of Vietnam's Communist Party will make a first-ever visit to the White House next week, meeting President Barack Obama on the 40th anniversary of the end of the war between the two nations. The landmark trip underscores strengthening ties between
Published 04 Jul, 2015 12:00am
Russian ISS cargo ship successfully launched

Russian ISS cargo ship successfully launched

An unmanned Russian cargo ship bound for the International Space Station (ISS) was successfully launched from Kazakhstan's Baikonur Cosmodrome Friday, following a string of failed resupply missions. Russian television broadcast the launch of the Progress
Published 04 Jul, 2015 12:00am
Britain falls silent for Tunisia attack victims

Britain falls silent for Tunisia attack victims

Britain's Queen Elizabeth II and Prime Minister David Cameron led a nation-wide minute's silence on Friday, a week after a jihadist gun massacre in Tunisia in which 30 out of the 38 victims were Britons. Flags flew at half-mast as schools, government offi
Published 04 Jul, 2015 12:00am
France rejects asylum request from WikiLeaks' Assange

France rejects asylum request from WikiLeaks' Assange

The French government rejected an asylum request from WikiLeaks founder Julian Assange on Friday, saying he did not face "immediate danger". "France cannot act on his request," said the office of President Francois Hollande in a statement, after Assange w
Published 04 Jul, 2015 12:00am
Six killed in South Korea storage tank explosion

Six killed in South Korea storage tank explosion

Six South Korean workers were killed Friday when a waste water storage tank exploded at a chemical plant in the industrial city of Ulsan, a fire official said. The blast occurred when the workers were carrying out welding work on the tank at the Hanwha Ch
Published 04 Jul, 2015 12:00am
Top Tunisian jihadist killed by US strike in Libya

Top Tunisian jihadist killed by US strike in Libya

A top Tunisian jihadist and associate of late al Qaeda leader Osama bin Laden was killed by a US airstrike in Libya last month, The New York Times reported Friday. Seifallah Ben Hassine, listed as a "global terrorist" by the US, was killed in mid-June in
Published 04 Jul, 2015 12:00am
Tunisia Prime Minister admits police took too long to react to attack

Tunisia Prime Minister admits police took too long to react to attack

Tunisian Prime Minister Habib Essid told the BBC on Friday that police took too long to react to last week's jihadist attack that killed 38 people, mostly Britons. "The time of the reaction - this is the problem," Essid told the British broadcaster. Polic
Published 04 Jul, 2015 12:00am
Drone kills 4 Qaeda suspects in Yemen

Drone kills 4 Qaeda suspects in Yemen

A Saudi and a Kuwaiti are among four suspected al Qaeda members killed by an American drone strike in south-eastern Yemen, a local official said on Friday. The dawn strike targeted their car as it left the base of the 27th Mechanised Brigade in the Hadram
Published 04 Jul, 2015 12:00am
Islamist alliance in battle for Syria's Aleppo

Islamist alliance in battle for Syria's Aleppo

A new Islamist rebel alliance, including al Qaeda's Syrian affiliate, was locked in a fierce battle Friday to seize government-held areas of Aleppo, the divided former economic capital. Once a powerhouse of industry, Aleppo has been devastated by years of
Published 04 Jul, 2015 12:00am
EU leaders 'unlikely' to attend China military parade: ambassador

EU leaders 'unlikely' to attend China military parade: ambassador

China's huge military parade to mark the World War II victory over Japan risks stirring resentment, the European Union's ambassador to Beijing said Friday, adding it was "unlikely" top EU institution leaders would attend. The September display will commem
Published 04 Jul, 2015 12:00am
Boko Haram kills nearly 200 in 48 hours of Nigeria slaughter

Boko Haram kills nearly 200 in 48 hours of Nigeria slaughter

Boko Haram carried out a fresh wave of massacres in north-eastern Nigeria on Friday, locals said, killing nearly 200 people in 48 hours of violence President Muhammadu Buhari blasted as "inhuman and barbaric". The militants have staged multiple attacks ac
Published 04 Jul, 2015 12:00am
6.4 magnitude quake kills three in China's Xinjiang

6.4 magnitude quake kills three in China's Xinjiang

A shallow 6.4-magnitude earthquake struck China's far western region of Xinjiang on Friday, the US Geological Survey said, with three people killed according to Chinese officials. The epicentre was in Pishan county, 164 kilometres (102 miles) north-west o
Published 04 Jul, 2015 12:00am
BCCI - why and how it was shutdown
Currency

BCCI - why and how it was shutdown

July 5 will mark the beginning of the twenty fifth anniversary of the forced winding-up of the Bank of Credit & Commerce International (BCCI). Created in September 1972, in a short span of 19 years, this bank expanded into 64 countries, bulk of them being
Published 04 Jul, 2015 12:00am
Cabinet to discuss right to information bill, Senate body told

Cabinet to discuss right to information bill, Senate body told

Prime Minister Nawaz Sharif has directed the ministry of information and broadcasting to place summary of the right to information bill at the next meeting of cabinet for its approval. Federal Secretary Information and Broadcasting Mohammad Azam on Friday
Published 04 Jul, 2015 12:00am
Karachi Traffic Management Board constituted

Karachi Traffic Management Board constituted

As per directives of Sindh Chief Minister, a Karachi Division Traffic Management Board has been constituted, with Commissioner of Karachi, Shoaib Ahmad Siddiqui as its Chairman to prevent traffic gridlock in the metropolis. The board is authorised to ensu
Published 04 Jul, 2015 12:00am
Power shortfall reaches 4400 megawatts

Power shortfall reaches 4400 megawatts

Electricity shortfall on Friday has reported to have reached at least 4,400 Mega Watt (MW) leading to increased hours of outages countrywide. At least 12-hour long outages are being carried out in rural while eight-hour long in urban areas. Sources report
Published 04 Jul, 2015 12:00am
64 percent drop in incidents of terrorism in KP

64 percent drop in incidents of terrorism in KP

Terrorist incidents in Pakistan's north-west Khyber Pakhtunkhwa (KPK) province have dropped by 64 percent during the first quarter of the year compared to the same period of last year, official report said Friday. According to data compiled by the Strateg
Published 04 Jul, 2015 12:00am
Langlands School's controversy simmers

Langlands School's controversy simmers

Parents, teachers, traders, lawyers, doctors and all the 84 staff of the Langlands School and College Chitral on Friday asked the federal government to immediately renew the visa of Principal Carey Schofield - a British educationist - so that she can come
Published 04 Jul, 2015 12:00am
Three dacoits killed

Three dacoits killed

At least three dacoits were killed in an alleged police encounter here on Friday. According to police sources, three dacoits were looting citizens by putting blockades in Qila Sattar Shah area of Sheikhura when police were informed about their criminal ac
Published 04 Jul, 2015 12:00am
TMA Sajjawal: NAB arrests 5 officials for embezzlement

TMA Sajjawal: NAB arrests 5 officials for embezzlement

National Accountability Bureau (NAB) Karachi on Friday arrested five employees of Tehsil Municipal Administration (TMA) Sajjawal for involvement in embezzlement of Rs 101 million in TMA Sajjawal. Those arrested were included Iqbal Qasim Junejo and Muhamma
Published 04 Jul, 2015 12:00am
Overcoming terrorism, electricity shortage top priority: Prime Minister

Overcoming terrorism, electricity shortage top priority: Prime Minister

Prime Minister Nawaz Sharif has said overcoming terrorism and electricity shortage is the top priority of the government. He was talking to German Ambassador to Pakistan Dr Cyrill Nunn who called on him in Islamabad on Friday. The Prime Minister lauded Ge
Published 04 Jul, 2015 12:00am
Overcoming terrorism, electricity shortage top priority: Prime Minister

Overcoming terrorism, electricity shortage top priority: Prime Minister

Prime Minister Nawaz Sharif has said overcoming terrorism and electricity shortage is the top priority of the government. He was talking to German Ambassador to Pakistan Dr Cyrill Nunn who called on him in Islamabad on Friday. The Prime Minister lauded Ge
Published 04 Jul, 2015 12:00am
Appointment of retired official as GHPL MD challenged in IHC

Appointment of retired official as GHPL MD challenged in IHC

A stakeholder of Government Holdings (Private) Limited (GHPL) challenged the appointment of 68 years old retired official as managing director and his demand for a salary of Rs 4.5 million per month in Islamabad High Court (IHC) on Thursday.
Published 04 Jul, 2015 12:00am
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