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May 10, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-11-30
Nepra adding to consumers' woes

Nepra adding to consumers' woes

The Auditor General of Pakistan (AGP) has unearthed burdening of electricity consumers by National Electric Power Regulatory Authority (Nepra) by including Independent Power Producers (IPPs) capital cost of $5.481 billion in tariff as a special favour to
Published 30 Nov, 2015 12:00am
Nepra adding to consumers' woes

Nepra adding to consumers' woes

The Auditor General of Pakistan (AGP) has unearthed burdening of electricity consumers by National Electric Power Regulatory Authority (Nepra) by including Independent Power Producers (IPPs) capital cost of $5.481 billion in tariff as a special favour to
Published 30 Nov, 2015 12:00am
IMF poised to put Chinese yuan in SDR basket
Currency

IMF poised to put Chinese yuan in SDR basket

The International Monetary Fund is expected to approve inclusion of China''s yuan in its SDR basket of elite currencies on Monday, rewarding Beijing''s strong pursuit of the global status. The IMF executive board is scheduled to meet Monday to decide on t
Published 30 Nov, 2015 12:00am
IMF poised to put Chinese yuan in SDR basket
Currency

IMF poised to put Chinese yuan in SDR basket

The International Monetary Fund is expected to approve inclusion of China's yuan in its SDR basket of elite currencies on Monday, rewarding Beijing's strong pursuit of the global status. The IMF executive board is scheduled to meet Monday to decide on the
Published 30 Nov, 2015 12:00am
IMF poised to put Chinese yuan in SDR basket
Currency

IMF poised to put Chinese yuan in SDR basket

The International Monetary Fund is expected to approve inclusion of China's yuan in its SDR basket of elite currencies on Monday, rewarding Beijing's strong pursuit of the global status. The IMF executive board is scheduled to meet Monday to decide on the
Published 30 Nov, 2015 12:00am
THE RUPEE: falling trend
Currency

THE RUPEE: falling trend

The rupee drifted lower against the dollar on the money market during the week, ended on 29, 2015. In the open market, the rupee lost 50 paisas against the dollar for buying and selling at Rs 106.50 and Rs 106.70. The rupee showed no change versus the eur
Published 30 Nov, 2015 12:00am
THE RUPEE: falling trend
Currency

THE RUPEE: falling trend

The rupee drifted lower against the dollar on the money market during the week, ended on 29, 2015. In the open market, the rupee lost 50 paisas against the dollar for buying and selling at Rs 106.50 and Rs 106.70. The rupee showed no change versus the eur
Published 30 Nov, 2015 12:00am
First-ever LB polls in capital today

First-ever LB polls in capital today

The federal capital is all set for the first ever local bodies' elections today (Monday), as elaborate arrangements have been by the Election Commission of Pakistan (ECP) to ensure peaceful elections for 650 seats of 50 union councils. There are total 2,3
Published 30 Nov, 2015 12:00am
First-ever LB polls in capital today

First-ever LB polls in capital today

The federal capital is all set for the first ever local bodies' elections today (Monday), as elaborate arrangements have been by the Election Commission of Pakistan (ECP) to ensure peaceful elections for 650 seats of 50 union councils. There are total 2,3
Published 30 Nov, 2015 12:00am
The Weather

The Weather

The weather report on Sunday (November 29, 2015) and the forecast for Monday (November 30, 2015).

Published 30 Nov, 2015 12:00am
Your rupee last week
Currency

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (November 23 to 27, 2015).

Published 30 Nov, 2015 12:00am
Shahbaz in UK on five-day visit

Shahbaz in UK on five-day visit

Punjab Chief Minister Shahbaz Sharif, who is on a five-day visit to UK, will have a hectic schedule of meetings with the British officials. A handout issued here from DGPR said that the Chief Minister would hold meetings with British Secretary of State fo
Published 30 Nov, 2015 12:00am
PPP takes out rally to celebrate foundation day

PPP takes out rally to celebrate foundation day

Pakistan People's Party (PPP) on Sunday staged a rally to celebrate its foundation day here. A large number of party workers and supporters including women and children participated in the rally, which was taken out from Bilawal House and culminated at Sp
Published 30 Nov, 2015 12:00am
Panellists for efforts to preserve Kalash culture

Panellists for efforts to preserve Kalash culture

IQRA University in collaboration with Foundation for Arts, Culture and Education (FACE) has organised a panel discussion to raise awareness among the youth on the importance of cultural diversity and preservation of cultures at the verge of extinction in
Published 30 Nov, 2015 12:00am
972nd Urs of Hazrat Daata Ganj Bakhsh

972nd Urs of Hazrat Daata Ganj Bakhsh

The Punjab government has completed all security and other arrangements for the 972nd annual Urs of Hazrat Daata Ganj Bakhsh Sayyad Ali Bin Usman Hujwiri beginning tomorrow.
Published 30 Nov, 2015 12:00am
'Israel to open first mission in Abu Dhabi'

'Israel to open first mission in Abu Dhabi'

This is apropos news item 'Israel to open first mission in Abu Dhabi' carried by Business Recorder on its front page on Saturday. How unfortunate and ironic it is that Israel is set to open a mission in Abu Dhabi as part of an international green e
Published 30 Nov, 2015 12:00am
It's time to blame the PM!

It's time to blame the PM!

I give up! In all fairness I can no longer blame the Federal Finance Minister Ishaq Dar for his flawed economic policies that have finally come home to roost two and a half years after the PML-N government took over the reins of administration. Blame must
Published 30 Nov, 2015 12:00am
Food security

Food security

Food security is emerging as one of the major issues which the nations will encounter in the days to come due to increasing population and squeezing land for food production. The world bodies under the United Nations such as FAO have already identified th
Published 30 Nov, 2015 12:00am
Deportations only under SOP

Deportations only under SOP

Having received some three quarters of a million migrants from Syria and Iraq this year, Europe seems to have run out of space which it plans to take back from the uninvited foreign guests from Pakistan. Pakistan being a stable, functioning democracy its
Published 30 Nov, 2015 12:00am
Virtual collapse in foreign investment

Virtual collapse in foreign investment

There is hardly a day when the Finance Minister or the Prime Minister do not claim credit for improving the investment climate in the country and the positive perception of foreign investors about the economy. The situation on the ground, however, appears
Published 30 Nov, 2015 12:00am
Somali pirates killed as hijacked boat freed

Somali pirates killed as hijacked boat freed

A boat held by Somali pirates has been freed after a gun battle, fishermen and witnesses said Sunday, claiming several of the pirates were killed. There was no precise information on the boat or the fate of its crew, whether international forces were invo
Published 30 Nov, 2015 12:00am
IS executes 3,500 in Syria since declaring 'caliphate'

IS executes 3,500 in Syria since declaring 'caliphate'

The Islamic State group has executed more than 3,500 people in Syria, including nearly 2,000 civilians, since declaring its "caliphate" in June last year, a monitor said Sunday. In the last month alone IS executed 53 people - including 35 civilians - in a
Published 30 Nov, 2015 12:00am
Fresh Jerusalem stabbings as Israel weighs next moves

Fresh Jerusalem stabbings as Israel weighs next moves

Stabbings at an entrance to Jerusalem's Old City and near a bus stop Sunday left two people wounded and an attacker killed, while Israel closed a third Palestinian radio station accused of incitement. The attacks and closure of the station came with Israe
Published 30 Nov, 2015 12:00am
Assad says his enemies increasing support for insurgents

Assad says his enemies increasing support for insurgents

Syrian President Bashar al Assad told a senior Iranian official on Sunday that his adversaries had increased weapon supplies and financial support to insurgents since the start of a major offensive aided by his allies to regain lost territory.
Published 30 Nov, 2015 12:00am
Burkina Faso votes to choose first new leader in decades
Cotton

Burkina Faso votes to choose first new leader in decades

Burkina Faso voted on Sunday in an election to choose the country's first new president in decades, a year after long-time leader Blaise Compaore was toppled in a popular uprising in which demonstrators faced down the security forces.
Published 30 Nov, 2015 12:00am
16 dead in fighting for south Yemen province

16 dead in fighting for south Yemen province

Yemeni loyalists supported by a Saudi-led coalition battled Sunday to oust Iran-backed rebels from a southern province where they have made gains in recent weeks, with at least 16 reported dead. Ground fighting and air strikes by a Saudi-led coalition kil
Published 30 Nov, 2015 12:00am
Nepal arrests 38 in strike against 'Indian border blockade'

Nepal arrests 38 in strike against 'Indian border blockade'

Police in Nepal arrested 38 protesters Sunday for trying to enforce a strike against neighbouring India, which is accused of orchestrating a weeks-long border blockade that has caused crippling fuel shortages. Many shops were closed in the capital Kathman
Published 30 Nov, 2015 12:00am
IESCO fails to recover Rs35.47bn from defaulters

IESCO fails to recover Rs35.47bn from defaulters

National exchequer has to face losses of billions of rupees due to slackness and poor performance of Islamabad Electric Supply Company (IESCO) during last one decade. According to sources of Federal Ministry of Water and Power, IESCO had to recover pendin
Published 30 Nov, 2015 12:00am
CSS delegation visits AFI

CSS delegation visits AFI

A 60-member delegation of CSS students from private institutions paid a visit to Anjuman Faizul Islam (AFI) on Sunday and distributed gifts among the inmates of orphanage. A simple welcome ceremony was arranged by the administration of AFI to make the stu
Published 30 Nov, 2015 12:00am
Three Thar independent councillors join PPP

Three Thar independent councillors join PPP

Three independent elected councillors of Tharparkar Sunday visited Bilawal House and joined the Pakistan Peoples Party (PPP) after meeting Surendar Valasai, Minority Affairs Adviser to Chairman Bilawal Bhutto Zardari. A Bilawal House Media Cell statement
Published 30 Nov, 2015 12:00am
PPP promoting Shah Latif Bhittai's message of peace and love: Qaim

PPP promoting Shah Latif Bhittai's message of peace and love: Qaim

Chief Minister Sindh Syed Qaim Ali Shah has said that Shah Abdul Latif Bhittai is not only poet but also a great saint of Sindh. He said this while speaking to media on the occasion of concluding ceremony of 3-day 272-Urs of Shah Abdul Latif Bhittai held
Published 30 Nov, 2015 12:00am
General elections: KP chapter of JI highly optimistic about prospects

General elections: KP chapter of JI highly optimistic about prospects

Jamaat-e-Islami (JI) Khyber Pakhtunkhwa, provincial Ameer, Mushtaq Ahmad Khan has vowed to continue struggle for rights of KP, and claimed that the party will emerge as leading 'religio-political' force in the next general elections in the province, due t
Published 30 Nov, 2015 12:00am
KP BOIT bill introduced in PA

KP BOIT bill introduced in PA

The provincial government of Khyber Pakhtunkhwa has introduced the KP Board of Investment and Trade Bill, 2015 in the provincial assembly to establish a body to promote, encourage, assist and facilitate investors in the province and co-ordinate with all d
Published 30 Nov, 2015 12:00am
Transport facilities: 'government coming up with comprehensive policy'

Transport facilities: 'government coming up with comprehensive policy'

The government is coming up with comprehensive planning for the provision of better transport facilities in Karachi through bus rapid transit system. This was stated by Commissioner Karachi, Shoaib Ahmed Siddiqui, while speaking at a workshop, says a stat
Published 30 Nov, 2015 12:00am
IGP Sindh directs strict security on Chehlum

IGP Sindh directs strict security on Chehlum

Inspector General of Police, Sindh, Ghulam Hyder Jamali has directed for foolproof security arrangements on the occasion of Chehlum of Hazrat Imam Hussain (AS), at ranges, zones and districts level. He also called for ensuring steps for maintaining strict
Published 30 Nov, 2015 12:00am
Seven alleged terrorists arrested in Karachi

Seven alleged terrorists arrested in Karachi

The police and Rangers claimed to have arrested seven alleged terrorists of the banned outfit and two target killers during separate actions besides confiscating huge of weapons and other valuables from their possession here on Sunday.
Published 30 Nov, 2015 12:00am
80 billion dollars of agri lost from natural disasters

80 billion dollars of agri lost from natural disasters

Natural disasters that struck developing countries over the past decade have caused at least 80 billion dollars' worth of damage to agriculture, the United Nations Food and Agriculture Organisation (FAO) said on November 26. The estimate comes from a 53-p
Published 30 Nov, 2015 12:00am
El Nino floods may displace 100,000 in Ethiopia: UN

El Nino floods may displace 100,000 in Ethiopia: UN

Floods caused by El Nino could displace more than 100,000 people in Ethiopia, where more than 8 million people are facing a food crisis because of the worst drought since a devastating 1984 famine, the United Nations said on November 23. Failed rains duri
Published 30 Nov, 2015 12:00am
'690 million children at risk from climate change'

'690 million children at risk from climate change'

Nearly 690 million of the world's 2.3 billion children live in areas most exposed to climate change, facing higher rates of death, poverty and disease from global warming, the UN children's agency said on November 24. Almost 530 million children live in c
Published 30 Nov, 2015 12:00am
US scientists work to breed malaria-free mosquitos

US scientists work to breed malaria-free mosquitos

US researchers have carried out genetic tweaks to malaria-carrying mosquitos so their offspring feature genes that block the parasite which causes the disease, opening the way to eradicating it. Previous studies in recent years had already shown it was po
Published 30 Nov, 2015 12:00am
Almost 16m on HIV treatment as AIDS pandemic tide turns

Almost 16m on HIV treatment as AIDS pandemic tide turns

Some 15.8 million people world-wide are now on HIV treatment and a fast-track strategy to end the AIDS pandemic is starting to show results, the United Nations AIDS program said on November 24. In a report ahead of December 1, World Aids Day, UNAIDS said
Published 30 Nov, 2015 12:00am
Health risk of loneliness has physiological basis

Health risk of loneliness has physiological basis

Loneliness can increase the risk of premature death by 14 percent in older adults, according to a study published on November 23 that posits a physiological basis for the phenomenon.
Published 30 Nov, 2015 12:00am
Poor nations face soaring costs if warming limit exceeded: Oxfam

Poor nations face soaring costs if warming limit exceeded: Oxfam

Developing nations could suffer economic losses of $1.7 trillion per year by 2050 unless a new UN deal paves the way for stronger action to curb global warming and more aid for coping with climate change impacts, anti-poverty charity Oxfam said.
Published 30 Nov, 2015 12:00am
Flash and Java: both software packages may be security risks

Flash and Java: both software packages may be security risks

They're programmes found on almost every computer, but recent global security warnings about them have left many people wondering if they can be de-installed or whether it's wise to do so. Adobe's Flash Player and Oracle's Java are what experts call utili
Published 30 Nov, 2015 12:00am
LG Display plans multi-billion OLED plant

LG Display plans multi-billion OLED plant

South Korea's LG Display said Friday it planned to invest close to $9.0 billion in a new plant to produce organic light-emitting diode (OLED) displays, anticipating a surge in demand for the ultra high-definition technology. Total investment in the plant,
Published 30 Nov, 2015 12:00am
Retailers give shoppers new reasons to use mobile phones in stores

Retailers give shoppers new reasons to use mobile phones in stores

At some Macy's outlets this holiday season, shoppers who download the retailer's app will be able to use their smart phones to guide them through the store to products they're seeking. At JCPenney, customers will be able to take a snapshot of, for example
Published 30 Nov, 2015 12:00am
Google gets 348,085 'forget' requests in Europe

Google gets 348,085 'forget' requests in Europe

Internet giant Google said Wednesday it has received 348,085 requests for select search results to be "forgotten" in Europe, with users in France and Germany leading the way.
Published 30 Nov, 2015 12:00am
Single memory module means missed computing opportunity

Single memory module means missed computing opportunity

Using just a single memory module in a computer will sacrifice performance, because most computers need a pair of them to go into dual-channel mode. Sticking to a single RAM module means staying in the single channel mode, which cuts data transfer rates i
Published 30 Nov, 2015 12:00am
Facebook Login Comes To The Apple TV

Facebook Login Comes To The Apple TV

The biggest shortcoming in Apple's newly launched Apple TV is the lack of a Remote app for the iPhone. In particular, when you first set it up, you'll have to manually enter your Netflix password, Hulu password and more using your Apple TV remote. But Fac
Published 30 Nov, 2015 12:00am
China dreams of electric sheep at robot conference

China dreams of electric sheep at robot conference

In a martial artist's white silk pyjamas, a man practised tai-chi in harmony with a motorised arm at a Beijing exhibition showcasing a vision of robots with Chinese characteristics. Vehicles with automated gun turrets sat alongside drink-serving karaoke m
Published 30 Nov, 2015 12:00am
New browser - Vivaldi - aims at providing more flexibility

New browser - Vivaldi - aims at providing more flexibility

A new internet browser named Vivaldi wants to shake up the internet surfing experience by offering new and easier ways to organise research, take notes and grab screenshots while wandering around online. So far, Vivaldi remains in its beta phase. However,
Published 30 Nov, 2015 12:00am
Deutsche Telekom to start using integrated SIM cards next year

Deutsche Telekom to start using integrated SIM cards next year

Germany's principal telecommunications company, Deutsche Telekom, has announced it will start using integrated SIM cards (eSIM) starting in 2016. That means mobile phones will no longer need to be outfitted with a chip that can be swapped out. Rather they
Published 30 Nov, 2015 12:00am
Zurich to exit UAE general insurance business

Zurich to exit UAE general insurance business

Zurich Insurance Group will exit its general insurance business in the United Arab Emirates by the end of 2016, after a review concluded the investment needed in the market was not justified by its limited growth potential. Zurich, which will continue to
Published 30 Nov, 2015 12:00am
AirAsia profit hit by weak currencies

AirAsia profit hit by weak currencies

AirAsia Bhd swung to a third-quarter loss due to foreign exchange losses and a writedown at its lossmaking Indonesian associate as Asia's biggest budget airline seeks to address market concerns over high debt and dues owed by its affiliates.
Published 30 Nov, 2015 12:00am
Toyota exports Venezuelan-made parts to keep ops afloat
Currency

Toyota exports Venezuelan-made parts to keep ops afloat

Toyota's Venezuela unit has started exporting locally made car parts to generate hard currency income and help it withstand the OPEC country's economic crisis. What was once South America's third-largest automotive industry has taken a hit as stagnation i
Published 30 Nov, 2015 12:00am
China's Sun Paper to build $1.36 billion facility in US

China's Sun Paper to build $1.36 billion facility in US

China's Shan Dong Sun Paper Industry Joint Stock Co said on November 23 that it would spend about $1.36 billion to build a pulp mill in the United States in its first investment outside the country. The facility is expected to break ground in 2016 and sta
Published 30 Nov, 2015 12:00am
Rosneft beats expectations, crude prices to boost profits

Rosneft beats expectations, crude prices to boost profits

Cost cutting helped Russian oil company Rosneft beat both low crude prices and analyst expectations to post sharply higher third quarter earnings on November 25. Adjusted net profit of the government-controlled company rose to 113 billion rubles ($1.8 bil
Published 30 Nov, 2015 12:00am
Maybank's third quarter profit up 18 percent

Maybank's third quarter profit up 18 percent

Malayan Banking Bhd (Maybank) reported an 18 percent rise in quarterly net profit as Malaysia's largest lender by assets benefited from the sale of its Papua New Guinea operations. Profit for July-September rose to 1.90 billion ringgit ($449 million) from
Published 30 Nov, 2015 12:00am
Gulf banks rush to loan market to cope with liquidity squeeze
Libor

Gulf banks rush to loan market to cope with liquidity squeeze

Gulf banks are rushing to raise money via the loan market by the end of the year in a flurry of activity attributed to a liquidity squeeze caused by lower oil prices, banking sources aware of the matter said on November 23. At least nine institutions, inc
Published 30 Nov, 2015 12:00am
GSK China head expects return to sales growth in 2016

GSK China head expects return to sales growth in 2016

GlaxoSmithKline Plc has cut 40 percent of its sales reps in China and axed some units as it eyes a return to growth in 2016, after sales plunged during a bribery scandal that landed it with a record $490 million fine in 2014. The British firm is gambling
Published 30 Nov, 2015 12:00am
Russia's Lovchev breaks world records

Russia's Lovchev breaks world records

Russia's Alexsey Lovchev shattered his personal best to set a world record in the clean & jerk and win the 105 kilo world title at the IWF World Weightlifting Championships on Saturday. Lovchev, who also set a world record in the weight class with a 475kg
Published 30 Nov, 2015 12:00am
Bale, Ronaldo hand Real Madrid relief at Eibar

Bale, Ronaldo hand Real Madrid relief at Eibar

Real Madrid got their La Liga title challenge back on course despite an underwhelming performance as goals from Gareth Bale and Cristiano Ronaldo handed them a 2-0 win at Eibar on Sunday.
Published 30 Nov, 2015 12:00am
Sanchez injured in Arsenal draw, Liverpool climb

Sanchez injured in Arsenal draw, Liverpool climb

Arsenal lost Alexis Sanchez and Laurent Koscielny to injury in a 1-1 draw at Norwich City on Sunday that prevented them drawing level with Premier League leaders Manchester City.
Published 30 Nov, 2015 12:00am
Britain win Davis Cup, first time in 79 years

Britain win Davis Cup, first time in 79 years

Andy Murray sealed Britain's first Davis Cup title for 79 years with a brilliant 6-3 7-5 6-3 defeat of Belgium's David Goffin in a fever-pitch atmosphere at Ghent's Flanders Expo on Sunday.
Published 30 Nov, 2015 12:00am
Briton Fury crowned world champion

Briton Fury crowned world champion

Underdog Tyson Fury caused a huge boxing upset on Saturday, stunning Wladimir Klitschko with a points victory to snatch the champion's four titles and become the first Briton to hold a world heavyweight crown since 2011.
Published 30 Nov, 2015 12:00am
Narine suspended for illegal action

Narine suspended for illegal action

The West Indian spinner Sunil Narine, the world's top-ranked bowler in both forms of limited-overs cricket, has been suspended from bowling in internationals after his action was ruled to be illegal.
Published 30 Nov, 2015 12:00am
Khalil bags Asian player of the year

Khalil bags Asian player of the year

UAE sharpshooter Ahmed Khalil stunned compatriot Omar Abdulrahman and China's Zheng Zhi on Sunday as he was named Asian player of the year at a glittering ceremony in India. The 24-year-old former youth player of the year could hardly believe his good for
Published 30 Nov, 2015 12:00am
Third and final twenty20 today: England aiming for T20 whitewash: Vince

Third and final twenty20 today: England aiming for T20 whitewash: Vince

England newcomer James Vince is hoping his team will go for a clean sweep of the Twenty20 series against Pakistan when they play the third and final match in Sharjah on Monday. The 24-year-old batsman batted with confidence to score 41 on his debut and th
Published 30 Nov, 2015 12:00am
Australia win historic day-night Test in tense finish

Australia win historic day-night Test in tense finish

Australia on Sunday claimed a thrilling three-wicket victory over New Zealand inside three days at the Adelaide Oval in the first-ever day-night Test match. Shaun Marsh anchored Australia to the cusp of victory before losing his wicket on 49, and the batt
Published 30 Nov, 2015 12:00am
Better in or out? England's former fishing hub faces EU dilemma

Better in or out? England's former fishing hub faces EU dilemma

The European Union is not an abstract concept in Grimsby, an English port where many blame EU fishing quotas for destroying livelihoods, but views on whether Britain should quit the club are more nuanced than the decaying fish docks suggest.
Published 30 Nov, 2015 12:00am
Africa to focus on China debt at Jo'burg summit

Africa to focus on China debt at Jo'burg summit

Some African countries may seek to renegotiate repayment of existing debts to China as a way of helping their economies hit by lower crude and commodity prices, but will not turn down offers of new loans by the Asian giant at a summit this week.
Published 30 Nov, 2015 12:00am
Kuwait names new acting oil minister

Kuwait names new acting oil minister

Kuwait on Sunday appointed Anas al-Saleh as acting oil minister in addition to his roles as finance minister and deputy prime minister, state news agency KUNA reported. KUNA did not say why Ali al-Omair was leaving the oil minister post. Sources familiar
Published 30 Nov, 2015 12:00am
Weak currency encourages Australia's gold miners to dig deeper
Currency

Weak currency encourages Australia's gold miners to dig deeper

Gold miners in Australia, emboldened by a weakening currency, have been increasing production in the face of a global rout in the precious metal, figures released on Sunday showed. Output by the world's no. 2 producer behind China climbed to 72 tonnes in
Published 30 Nov, 2015 12:00am
UAE's Dana Gas says wins $1.98 billion Kurdistan judgement

UAE's Dana Gas says wins $1.98 billion Kurdistan judgement

An international arbitration tribunal in London, ruling in a dispute that has lasted six years, ordered the Kurdistan Regional Government (KRG) in Iraq to pay $1.98 billion to a consortium including Dana Gas, the company said on Sunday.
Published 30 Nov, 2015 12:00am
Commission approves Greek government aid to Piraeus Bank

Commission approves Greek government aid to Piraeus Bank

The European Commission approved on Sunday additional Greek government aid to the country's biggest lender Piraeus Bank on the basis of an amended restructuring plan after European Central Bank stress tests showed the bank needed extra capital.
Published 30 Nov, 2015 12:00am
Bad Saudi PR fuels riyal devaluation talk
Currency

Bad Saudi PR fuels riyal devaluation talk

Speculation that Saudi Arabia could devalue its currency may owe more to a poor public relations effort by Saudi authorities than to the economic pressures on the kingdom. Riyadh has the tools available to protect itself as low oil prices push the current
Published 30 Nov, 2015 12:00am
Swedish funds pick banks to lead IPO of Norrporten

Swedish funds pick banks to lead IPO of Norrporten

The two Swedish pension funds that own commercial real estate firm Norrporten have picked Goldman Sachs and Nordea to lead a stock market listing of the firm in the first half of 2016, three sources familiar with the matter said. Sources told Reuters last
Published 30 Nov, 2015 12:00am
Swedish funds pick banks to lead IPO of Norrporten

Swedish funds pick banks to lead IPO of Norrporten

The two Swedish pension funds that own commercial real estate firm Norrporten have picked Goldman Sachs and Nordea to lead a stock market listing of the firm in the first half of 2016, three sources familiar with the matter said. Sources told Reuters last
Published 30 Nov, 2015 12:00am
Tokyo investors focus on US job data, ECB meeting

Tokyo investors focus on US job data, ECB meeting

Key US job figures and a European Central Bank policy meeting will be among the key trading cues for Tokyo investors next week, analysts said. A solid reading for the employment data would likely boost expectations that the Federal Reserve will pull the t
Published 30 Nov, 2015 12:00am
Gulf markets mostly sluggish, Egypt's index rises
Currency

Gulf markets mostly sluggish, Egypt's index rises

Egypt's stock market rose on Sunday as a new central bank governor took office, increasing hopes that the country's foreign exchange crisis can be resolved, while bourses in the Gulf were mostly sluggish. Tarek Amer, a well-regarded former commercial bank
Published 30 Nov, 2015 12:00am
BlackRock fund sells long-dated US bonds as rate hike looms

BlackRock fund sells long-dated US bonds as rate hike looms

BlackRock's flagship retail fund sold long-dated Treasuries earlier this month, its lead portfolio manager said, on the view financial markets may be too complacent about potentially higher yields as US interest rates are set to rise. Michael Fredericks,
Published 30 Nov, 2015 12:00am
BlackRock fund sells long-dated US bonds as rate hike looms

BlackRock fund sells long-dated US bonds as rate hike looms

BlackRock's flagship retail fund sold long-dated Treasuries earlier this month, its lead portfolio manager said, on the view financial markets may be too complacent about potentially higher yields as US interest rates are set to rise. Michael Fredericks,
Published 30 Nov, 2015 12:00am
Egyptian pound steady at first forex auction
Currency

Egyptian pound steady at first forex auction

Egypt's central bank held the pound steady at 7.7301 pounds to the dollar on Sunday at the first official foreign currency auction since new central bank governor Tarek Amer took office on November 27. The pound strengthened on the black market, with trad
Published 30 Nov, 2015 12:00am
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