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Print - 2016-04-02
3-in-1 'wearable shelter' for refugees

3-in-1 'wearable shelter' for refugees

Design students from London's Royal College of Art have created a prototype coat that transforms into a tent or sleeping bag. They believe the garment could offer aid agencies a cheap and sustainable solution to help refugees arriving in Europe.
Published 02 Apr, 2016 12:00am
World's nations gather to rescue ocean life

World's nations gather to rescue ocean life

It took a decade to get to the negotiating table, and it could easily take another to finish the job, but UN talks in New York to safeguard life in the high seas finally begin in earnest Monday. The stakes could hardly be higher, experts and diplomats agr
Published 02 Apr, 2016 12:00am
Art for social change

Art for social change

The Arts Council of Pakistan, Karachi has given the opportunity to the youth of Karachi to prove their talent and abilities through 'I Am Karachi Youth Festival' each year held at its premises. This year the youth festival was organised in collaboration w
Published 02 Apr, 2016 12:00am
The bright side of living: neon is new trend in home décor

The bright side of living: neon is new trend in home décor

Several of the big-name ceramic design companies have decided to use very bright colours in their collections this year. Maker Rosenthal attended the recent Ambiente consumer goods fair in Frankfurt with a line of ceramic items in neon colours.
Published 02 Apr, 2016 12:00am
ART FACTS: Distinctive sensation

ART FACTS: Distinctive sensation

Maqbool Ahmed's paintings portrayed transparent figures merging and emerging in unusual ambiances creating a peculiar atmosphere in a simple manner. He has acquired a diverse mode of painting to distinguish himself among his contemporaries. His powerful b
Published 02 Apr, 2016 12:00am
Carbon emissions highest in 66 million years, since dinosaur age

Carbon emissions highest in 66 million years, since dinosaur age

The rate of carbon emissions is higher than at any time in fossil records stretching back 66 million years to the age of the dinosaurs, according to a study last Monday that sounds an alarm about risks to nature from man-made global warming.
Published 02 Apr, 2016 12:00am
KARACHI CHRONICLE: We want to know: Why?

KARACHI CHRONICLE: We want to know: Why?

All in the course of one day, the capital was ransacked allegedly by Mumtaz Qadri's supporters; 70 innocent souls enjoying Easter in Lahore's Gulshan-i-Iqbal Park were killed in a suicide blast carried out by a Taliban faction in Lahore; journalists and t
Published 02 Apr, 2016 12:00am
Muslim immigrants' ordeal
Exchange

Muslim immigrants' ordeal

For the Pakistani Muslim immigrants in the US though, especially the Urdu speaking among them, the aching nerve hurts more painfully than Donald Trump might ever realise. It is rather a deep cut wound that bleeds since long. His warning came as a cruel re
Published 02 Apr, 2016 12:00am
Daily trading report of PMEX
Exchange

Daily trading report of PMEX

On Thursday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 4,096 million. The number of lots traded was 15.69 million. PMEX Commodity Index closed at 2,708. Major business was contributed by gold amounting to PKR 3,266 million followed by c
Published 02 Apr, 2016 12:00am
EU wheat futures fall on better weather forecasts
Exchange

EU wheat futures fall on better weather forecasts

European wheat futures fell sharply on Wednesday as forecasts for rain relief for US crops triggered a drop in Chicago prices and put the focus back on large global supplies. "The drought in the US does not look as serious as people believed," one Euronex
Published 02 Apr, 2016 12:00am
Grain market closed

Grain market closed

According to the Karachi Grain and Seeds Merchant Group, commodity market was closed on Friday due to Death Anniversary of Hazrat Abu Bakr Siddique (R.A.).
Published 02 Apr, 2016 12:00am
US FOB Gulf soyabean premiums fall on low demand

US FOB Gulf soyabean premiums fall on low demand

Export premiums for soyabeans shipped from the US Gulf Coast fell on Wednesday in tandem with sinking CIF barge basis values, pressured by weak demand and plentiful supplies in the export pipeline, traders said. CIF basis bids for barges loaded with soyab
Published 02 Apr, 2016 12:00am
US natural gas futures jump near five percent
Exchange

US natural gas futures jump near five percent

US natural gas futures jumped almost 5 percent on Wednesday to their highest level since mid-February due to a front-month switch to the more expensive May contract from April as well as forecasts for more cool weather over the next two weeks. After risin
Published 02 Apr, 2016 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 185,762 tonnes of cargo comprising 144,208 tonnes of import cargo and 41,554 tonnes of export cargo including 6,008 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargo of 144
Published 02 Apr, 2016 12:00am
Spot rate falls further on short supply of fine quality cotton
Cotton

Spot rate falls further on short supply of fine quality cotton

Prices extended slide on the cotton market on Friday in the process of modest trading, dealers said. The official spot rate dropped further Rs 50 to Rs 5,200 dealers said. In the Punjab seed cotton prices were at Rs 2400 and Rs 3000, they said. In the rea
Published 02 Apr, 2016 12:00am
US Midwest soya bids slightly lower

US Midwest soya bids slightly lower

Soyabean spot basis bids were slightly lower along US Midwest river on Wednesday, pressured by recent farmer sales and declining in sympathy with bids in the CIF barge market, grain merchants said. Bids of 35 cents per bushel above futures for barges of s
Published 02 Apr, 2016 12:00am
ICE cotton hits two-week high on export sales data
Cotton

ICE cotton hits two-week high on export sales data

Cotton futures rose to a two-week high on Thursday, as expectations of unfavorable weather conditions and positive export sales data offset a slightly bearish US government planting intentions report. The front-month May contract recovered after falling 0
Published 02 Apr, 2016 12:00am
Indian soyoil at more than five-month high
Exchange

Indian soyoil at more than five-month high

India soyoil futures touched a more than five-month high on Friday on expectations of higher demand, while soybeans rose on hopes of buying by millers. April soyoil futures on the National Commodity & Derivatives Exchange were 2.06 percent higher at 647.8
Published 02 Apr, 2016 12:00am
Tokyo rubber marks one percent weekly gain
Exchange

Tokyo rubber marks one percent weekly gain

Benchmark Tokyo rubber futures inched higher on Friday to post a weekly gain of about one percent, shrugging off lower oil prices and plunging Tokyo stocks even as investors turned cautious ahead of US jobs data due later in the day. The Tokyo Commodity E
Published 02 Apr, 2016 12:00am
Corn tumbles four percent on USDA acreage forecast shock

Corn tumbles four percent on USDA acreage forecast shock

US corn futures plunged more than 4 percent on Thursday in the market's steepest drop since mid-August after the US Agriculture Department forecast 2016 planted acreage well above trade expectations. Soybeans firmed on the USDA's lower-than-expected soybe
Published 02 Apr, 2016 12:00am
Gold notches biggest quarterly rise in US trade

Gold notches biggest quarterly rise in US trade

Gold edged up on Thursday as the dollar and stock markets retreated, locking in the metal's biggest quarterly gain in nearly 30 years amid reduced expectations for US interest rate hikes. The metal is highly exposed to rising rates, which lift the opportu
Published 02 Apr, 2016 12:00am
Gold ticks up before US jobs data in Asian trade

Gold ticks up before US jobs data in Asian trade

Gold edged higher on Friday as Asian shares fell, adding to its biggest quarterly gain in nearly 30 years, though caution prevailed ahead of the US non-farm payrolls report. Bullion has climbed 1.4 percent so far this week, its best such rise in four week
Published 02 Apr, 2016 12:00am
Gold slides over one percent after US data beats forecasts

Gold slides over one percent after US data beats forecasts

Gold fell more than 1 percent on Friday after US payrolls data for March beat expectations, allaying some fears over the health of the US economy and stoking speculation that the Federal Reserve may press ahead with interest rate hikes this year. US emplo
Published 02 Apr, 2016 12:00am
Corn edges up

Corn edges up

Chicago Board of Trade corn futures were slightly higher on Friday, rebounding on light bargain buying from earlier life-of-contract lows following Thursday's bearish US Department of Agriculture plantings forecast, traders said. Corn on a continuous char
Published 02 Apr, 2016 12:00am
US MIDDAY: wheat firmer

US MIDDAY: wheat firmer

Wheat futures on the Chicago Board of Trade were mostly firm on Friday on follow-through buying after gaining about 2 percent the previous day, supported by a government forecast for the smallest US wheat plantings in 46 years, traders said. The chance fo
Published 02 Apr, 2016 12:00am
US MIDDAY: gold slides on rate hike

US MIDDAY: gold slides on rate hike

Gold fell more than 1 percent on Friday after US March payrolls data beat expectations, allaying some fears about the US economy and stoking speculation about the timing of likely interest rate hikes by the Federal Reserve this year. US employers added 21
Published 02 Apr, 2016 12:00am
BlackBerry revenue drops

BlackBerry revenue drops

BlackBerry Ltd reported a larger-than-expected slide in fourth-quarter revenue on Friday, hurt by soft sales of its new Priv smartphone and other devices, sending its shares more than 8 percent in early trading. The smartphone industry pioneer, which lost
Published 02 Apr, 2016 12:00am
BlackBerry revenue drops

BlackBerry revenue drops

BlackBerry Ltd reported a larger-than-expected slide in fourth-quarter revenue on Friday, hurt by soft sales of its new Priv smartphone and other devices, sending its shares more than 8 percent in early trading. The smartphone industry pioneer, which lost
Published 02 Apr, 2016 12:00am
Brexit risks taking multi-trillion euro trading from London
Exchange

Brexit risks taking multi-trillion euro trading from London

If Britons vote to leave the EU, London's financial centre faces losing one of its top money spinners - the trade in trillions of euros in derivatives - and the European Central Bank will be pushing hard for the business to move onto its patch. According
Published 02 Apr, 2016 12:00am
Monaco raids Unaoil offices over global oil corruption probe

Monaco raids Unaoil offices over global oil corruption probe

Monaco authorities raided the offices of Unaoil, an energy services company, and the homes of its directors after Britain asked for help investigating alleged corruption in the global oil industry. Monaco's government said on its website that it acted aft
Published 02 Apr, 2016 12:00am
German engineering firms see sharp slowdown in exports
Exchange

German engineering firms see sharp slowdown in exports

German engineering exports to the United States, their top destination, are likely to slow sharply this year due to drastically lower fracking investments, a weaker global economy and a more stable exchange rate, an industry association said. The VDMA, wh
Published 02 Apr, 2016 12:00am
Strong US jobs report unlikely to sway cautious Fed

Strong US jobs report unlikely to sway cautious Fed

US employment increased solidly in March and wages rebounded, underscoring the economy's resilience, but the Federal Reserve is expected to remain cautious in raising interest rates this year due to slowing global growth. Nonfarm payrolls increased 215,00
Published 02 Apr, 2016 12:00am
Britain raises minimum wage

Britain raises minimum wage

Britain's Conservative government raised the minimum wage by 7.5 percent on Friday in a move denounced by critics as largely symbolic in an era of state austerity. Around 1.8 million employees will benefit from the National Living Wage (NLW). Workers aged
Published 02 Apr, 2016 12:00am
Japan big manufacturers' confidence drops to three-year low

Japan big manufacturers' confidence drops to three-year low

Confidence among Japan's biggest manufacturers dropped last quarter to its lowest level since Prime Minister Shinzo Abe kicked off his much-vaunted programme to boost growth three years ago, a survey showed Friday. The poor reading on the Bank of Japan's
Published 02 Apr, 2016 12:00am
UK government accused of prioritising China ties over steel jobs

UK government accused of prioritising China ties over steel jobs

Is a new special relationship threatening an old staple of British industry? Prime Minister David Cameron's government faced damaging claims Friday that its push for closer ties with China is holding back efforts to save 15,000 steel jobs. The row has spi
Published 02 Apr, 2016 12:00am
Shareholder in Kuwait's Jazeera Airways weighs stake sale

Shareholder in Kuwait's Jazeera Airways weighs stake sale

Boodai Corporation, Kuwait's investment holding conglomerate, has hired HSBC to advise it on a possible stake sale in low-cost carrier Jazeera Airways , say sources familiar with the matter. The family-owned investment company with business interests cove
Published 02 Apr, 2016 12:00am
Shareholder in Kuwait's Jazeera Airways weighs stake sale

Shareholder in Kuwait's Jazeera Airways weighs stake sale

Boodai Corporation, Kuwait's investment holding conglomerate, has hired HSBC to advise it on a possible stake sale in low-cost carrier Jazeera Airways , say sources familiar with the matter. The family-owned investment company with business interests cove
Published 02 Apr, 2016 12:00am
Kenya's National Bank warns of profit decline

Kenya's National Bank warns of profit decline

Kenya's National Bank has warned its 2015 earnings would fall by at least a quarter due to bad loans, a day after saying its chief executive and five top managers had been placed on compulsory leave pending an internal audit. In a statement on Wednesday,
Published 02 Apr, 2016 12:00am
Kenya's National Bank warns of profit decline

Kenya's National Bank warns of profit decline

Kenya's National Bank has warned its 2015 earnings would fall by at least a quarter due to bad loans, a day after saying its chief executive and five top managers had been placed on compulsory leave pending an internal audit. In a statement on Wednesday,
Published 02 Apr, 2016 12:00am
Irish central bank raises 2016 growth forecasts

Irish central bank raises 2016 growth forecasts

Ireland's central bank raised its forecast on Friday for economic growth this year to 5.1 percent from 4.8 percent three months ago but warned risks were tilted to the downside, particularly from the upcoming "Brexit" referendum in Britain. The upgrade su
Published 02 Apr, 2016 12:00am
Irish central bank raises 2016 growth forecasts

Irish central bank raises 2016 growth forecasts

Ireland's central bank raised its forecast on Friday for economic growth this year to 5.1 percent from 4.8 percent three months ago but warned risks were tilted to the downside, particularly from the upcoming "Brexit" referendum in Britain. The upgrade su
Published 02 Apr, 2016 12:00am
Ford March US auto sales rise eight percent

Ford March US auto sales rise eight percent

Ford Motor Co said its US auto sales rose 8 percent in March, narrowly topping analysts' expectations, as the company benefited from a strong performance by its pickup trucks and SUVs. Earlier on Friday, Nissan Motor Co reported a 13 percent gain in March
Published 02 Apr, 2016 12:00am
China's Hanergy posts $1.6 billion loss after troubled year
Exchange

China's Hanergy posts $1.6 billion loss after troubled year

Chinese solar panel maker Hanergy Thin Film Power Group Ltd posted a HK$12.23 billion ($1.58 billion) loss in 2015, after a tumultuous year in which the Hong Kong securities regulator launched a probe into the firm. Full-year revenue for 2015 fell more th
Published 02 Apr, 2016 12:00am
China's Hanergy posts $1.6 billion loss after troubled year
Exchange

China's Hanergy posts $1.6 billion loss after troubled year

Chinese solar panel maker Hanergy Thin Film Power Group Ltd posted a HK$12.23 billion ($1.58 billion) loss in 2015, after a tumultuous year in which the Hong Kong securities regulator launched a probe into the firm. Full-year revenue for 2015 fell more th
Published 02 Apr, 2016 12:00am
Canada manufacturing sector grows in March

Canada manufacturing sector grows in March

The pace of growth in the Canadian manufacturing sector grew for the first time in eight months in March as the weaker Canadian dollar gave exports a boost, data showed on Friday. The RBC Canadian Manufacturing Purchasing Managers' index (PMI), a measure
Published 02 Apr, 2016 12:00am
Spain overshot 2015 deficit goal by wide margin

Spain overshot 2015 deficit goal by wide margin

Spain missed its 2015 public deficit target by a wide margin, with its final figure around 5 percent of economic output, Spanish news agency Europa Press reported on Wednesday, citing unnamed government sources. Spain has been under scrutiny for months ov
Published 02 Apr, 2016 12:00am
IMF cuts Nigeria growth forecast again amid oil slump
Exchange

IMF cuts Nigeria growth forecast again amid oil slump

The International Monetary Fund said that it has again cut its growth forecast for Nigeria as the oil exporter faces "substantial challenges" from low crude prices. In its annual review of Nigeria's economic situation, the IMF said that gross domestic pro
Published 02 Apr, 2016 12:00am
IMF cuts Nigeria growth forecast again amid oil slump
Exchange

IMF cuts Nigeria growth forecast again amid oil slump

The International Monetary Fund said that it has again cut its growth forecast for Nigeria as the oil exporter faces "substantial challenges" from low crude prices. In its annual review of Nigeria's economic situation, the IMF said that gross domestic pro
Published 02 Apr, 2016 12:00am
Poland's Alior Bank buys GE's BPH for $329 million

Poland's Alior Bank buys GE's BPH for $329 million

Poland's Alior Bank has agreed to buy Bank BPH from General Electric for 1.225 billion zloty ($329 million) and said it will look to make another acquisition this year after moving into the country's top 10. Alior said on Friday it plans to finalise the p
Published 02 Apr, 2016 12:00am
Mideast funds positive on bonds, lukewarm on stocks: survey

Mideast funds positive on bonds, lukewarm on stocks: survey

Middle East fund managers have turned bullish towards fixed income and less positive on equities as they prepare for an economic slowdown in the Gulf this year, a monthly Reuters survey shows. The most recent survey of 14 leading fund managers, conducted
Published 02 Apr, 2016 12:00am
Mideast funds positive on bonds, lukewarm on stocks: survey

Mideast funds positive on bonds, lukewarm on stocks: survey

Middle East fund managers have turned bullish towards fixed income and less positive on equities as they prepare for an economic slowdown in the Gulf this year, a monthly Reuters survey shows. The most recent survey of 14 leading fund managers, conducted
Published 02 Apr, 2016 12:00am
Indian stocks fall

Indian stocks fall

Indian shares fell on Friday, posting their first weekly loss in five, as investors braced for yet another weak quarter of earnings and after a torrid session in Asia following tepid Japan business sentiment data. The broader NSE index fell 0.33 percent t
Published 02 Apr, 2016 12:00am
Russian shares to build on gains in 2016 as oil finds feet

Russian shares to build on gains in 2016 as oil finds feet

Russian shares are expected to rise more than 8 percent by the end of the year, a Reuters poll showed on Friday, lifted by a gradual recovery in the price of oil. Analysts said possible stimulus measures by Chinese policymakers could provide a further boo
Published 02 Apr, 2016 12:00am
Friday's early trade: Wall Street up slightly

Friday's early trade: Wall Street up slightly

Wall Street recouped early losses on Friday, helped by healthcare stocks, as investors assessed data pointing to a strong recovery in the US economy. Gains were limited by a nearly 4 percent fall in crude prices amid increasing skepticism around a deal to
Published 02 Apr, 2016 12:00am
Feeble finish to a tempestuous quarter on Wall Street
Exchange

Feeble finish to a tempestuous quarter on Wall Street

Wall Street ended the first quarter with a whimper on Thursday after a seven-week rally that rescued the S&P 500 from its worst start to a year since 2009. Angst about a troubled global economy drove a steep selloff in stocks in January, before a rebound
Published 02 Apr, 2016 12:00am
Sri Lanka shares edge up

Sri Lanka shares edge up

Sri Lankan shares rose for a third straight session to hit a one-week high on Friday led by large caps amid high turnover, but posted their first weekly decline in three as rising interest rates and economic woes dented sentiment, dealers said. Turnover h
Published 02 Apr, 2016 12:00am
US Treasuries post best quarter since 2011

US Treasuries post best quarter since 2011

US Treasuries closed out their best quarter in 4-1/2 years on Thursday, with prices rising on the day as fund managers added longer-dated debt maturities to match expected month-end changes of benchmark indexes tracked by their portfolios. Shorter-dated U
Published 02 Apr, 2016 12:00am
US Treasuries post best quarter since 2011

US Treasuries post best quarter since 2011

US Treasuries closed out their best quarter in 4-1/2 years on Thursday, with prices rising on the day as fund managers added longer-dated debt maturities to match expected month-end changes of benchmark indexes tracked by their portfolios. Shorter-dated U
Published 02 Apr, 2016 12:00am
China looking at ways to issue SDR bonds: Central bank head
Currency

China looking at ways to issue SDR bonds: Central bank head

China's central bank governor Zhou Xiaochuan says the country is "actively" looking at ways to issue bonds denominated in Special Drawing Rights (SDR), the currency basket unit used by the International Monetary Fund. Speaking at a meeting on Thursday in
Published 02 Apr, 2016 12:00am
China looking at ways to issue SDR bonds: Central bank head
Currency

China looking at ways to issue SDR bonds: Central bank head

China's central bank governor Zhou Xiaochuan says the country is "actively" looking at ways to issue bonds denominated in Special Drawing Rights (SDR), the currency basket unit used by the International Monetary Fund. Speaking at a meeting on Thursday in
Published 02 Apr, 2016 12:00am
China stocks shed losses, encouraged by factory surveys

China stocks shed losses, encouraged by factory surveys

China stocks recovered from early losses and ended Friday roughly flat, as investors weighed the impact from Standard & Poor's downgrade of China's credit outlook and a surprise pick-up in March manufacturing activity. China's bluechip CSI300 index rose 0
Published 02 Apr, 2016 12:00am
Tokyo shares plunge after weak BoJ survey
Currency

Tokyo shares plunge after weak BoJ survey

Tokyo stocks tumbled more than three percent Friday as a key Bank of Japan (BoJ) survey showed confidence among major manufacturers dropped to its lowest level since 2013, while Panasonic plunged on a disappointing profit forecast. Shortly before the mark
Published 02 Apr, 2016 12:00am
European shares slump to one-month low after oil price slips
Currency

European shares slump to one-month low after oil price slips

European equities tumbled to a one-month low on the first trading day of the quarter on Friday, with energy stocks hit by weaker oil prices while Osram retreated after it was dropped from Apple's top supplier list. The pan-European FTSEurofirst 300 index
Published 02 Apr, 2016 12:00am
Hong Kong main index falls

Hong Kong main index falls

Hong Kong's benchmark index suffered its biggest one-day loss in five weeks on Friday, after rating agency Standard & Poor's downgraded its outlook for China and Hong Kong. The Hang Seng index fell 1.3 percent, to 20,498.92, its biggest one-day percentage
Published 02 Apr, 2016 12:00am
Taiwan shares fall, tracking overseas markets

Taiwan shares fall, tracking overseas markets

Taiwan stocks fell on Friday, in line with other regional bourses, weighed down by tech heavyweights such as Taiwan Semiconductor Manufacturing Co (TSMC). As of 0136 GMT, the main TAIEX index was down 0.7 percent at 8,682.61, after ending at 8,744.83 in t
Published 02 Apr, 2016 12:00am
Southeast Asia stocks fall on gloomy economic outlook

Southeast Asia stocks fall on gloomy economic outlook

Southeast Asian stock markets fell on Friday as concerns over global economic outlook dented sentiment after S&P cut its credit outlook for China, and on a gloomy survey of Japanese manufacturing. Singapore's Straits Times Index ended 0.8 percent down at
Published 02 Apr, 2016 12:00am
Britain's FTSE loses ground as Q2 begins

Britain's FTSE loses ground as Q2 begins

Britain's top equity index fell on Friday, dipping at the start of the second quarter of 2016 as weak oil prices weighed on the shares of major energy companies. The bluechip FTSE 100 index closed down 0.5 percent at 6,146.05 points. The FTSE and other Eu
Published 02 Apr, 2016 12:00am
Dollar nurses quarterly losses as US jobs data awaited
Exchange

Dollar nurses quarterly losses as US jobs data awaited

The dollar found some respite on Friday after steep quarterly losses against major rivals, as investors awaited a US nonfarm payrolls report that could give clues to the monetary policy outlook. Against the yen, the dollar slipped about 0.3 percent to 112
Published 02 Apr, 2016 12:00am
Dollar doldrums before US payrolls report
Currency

Dollar doldrums before US payrolls report

The dollar slipped again on Friday after recording its weakest quarter in 5 1/2 years, with investors doubtful that monthly US jobs data will convince them to bring forward their bets on when the Federal Reserve will raise interest rates. The greenback sh
Published 02 Apr, 2016 12:00am
Friday's early trade-gains after strong US jobs

Friday's early trade-gains after strong US jobs

The US dollar rebounded on Friday against a basket of currencies from Thursday's more than five-month lows after stronger-than-expected US jobs and factory data boosted expectations for a less dovish Federal Reserve. Nonfarm payrolls increased by 215,000
Published 02 Apr, 2016 12:00am
US dollar set for worst quarter since 2010
Currency

US dollar set for worst quarter since 2010

The dollar hit its lowest level in more than five months against a basket of currencies on Thursday and was set to post its biggest quarterly percentage loss in more than five years after traders continued to digest dovish comments from Federal Reserve Ch
Published 02 Apr, 2016 12:00am
Sri Lankan five-day rupee forwards steady
Currency

Sri Lankan five-day rupee forwards steady

Sri Lankan five-day rupee forwards ended steady on Friday as dollar selling by a state bank helped offset demand for the greenback from importers, dealers said. The forwards, which act as a proxy for the spot currency and are called spot next, ended flat
Published 02 Apr, 2016 12:00am
Profit-taking hurts Asia forex
Exchange

Profit-taking hurts Asia forex

Most emerging Asian currencies eased on Friday as investors booked profits from weekly gains ahead of key US jobs data, although regional units are unlikely to lose their near-term momentum given the Federal Reserve chair's dovish turn. The Chinese yuan w
Published 02 Apr, 2016 12:00am
China's yuan weakens

China's yuan weakens

China's yuan weakened on Friday as a cut in the country's credit rating by S&P offset stronger-than-expected growth in China's March manufacturing activity. The offshore yuan also slid more sharply, but signs of short-term liquidity stress in the offshore
Published 02 Apr, 2016 12:00am
Sterling index weakens to hit lowest since December' 2013
Currency

Sterling index weakens to hit lowest since December' 2013

Sterling fell to a more than two-year low against a trade-weighted basket on Friday, hurt by a survey that showed growth in the manufacturing sector missing expectations amid persistent concerns over a possible British exit from the European Union. An onl
Published 02 Apr, 2016 12:00am
Nigerian interbank rate falls
Exchange

Nigerian interbank rate falls

Nigerian overnight interbank lending rates fell more than half on Friday to around 5 percent from last week's 13 percent after the central bank injected fresh liquidity into the system, traders said. The central bank retired about 179 billion naira ($900.
Published 02 Apr, 2016 12:00am
Australia, New Zealand dollars near nine-month peaks
Currency

Australia, New Zealand dollars near nine-month peaks

The Australian and New Zealand dollars hovered close to nine-month peaks on Friday following solid manufacturing data from China with investors awaiting the latest reading on US jobs. The Australian dollar held at $0.7661, not far from a summit of $0.7723
Published 02 Apr, 2016 12:00am
Brands seek Rio gold in new advertising playing field

Brands seek Rio gold in new advertising playing field

Dozens of major companies and specialty brands that are not official Olympics sponsors have applied to run advertising campaigns featuring athletes ahead of the Rio 2016 Olympic Games, taking advantage of new rules that are shaking up the business of mark
Published 02 Apr, 2016 12:00am
Nishikori faces Kyrgios in semi after narrow escape
Kerb

Nishikori faces Kyrgios in semi after narrow escape

Japan's Kei Nishikori saved five match points to down Gael Monfils on Thursday and advance into a semi-final showdown with Australian Nick Kyrgios at the ATP and WTA Miami Open. Two-time Grand Slam champions Victoria Azarenka and Svetlana Kuznetsova reach
Published 02 Apr, 2016 12:00am
Wasim blames first-class system for exit from T20 World Cup

Wasim blames first-class system for exit from T20 World Cup

Legendary fast bowler Wasim Akram believes Pakistan's exit from the ICC World T20 is a reflection of an outdated first-class system. Wasim, who is in India commentating with Star Sports, said he was not surprised by Pakistan's poor performance which he be
Published 02 Apr, 2016 12:00am
PCB special committee submits its report

PCB special committee submits its report

The Special Committee formed to review and analyse the factors that contributed to the poor performance of Pakistan team in the Asia Cup and ICC World T20 Cup has submitted its report to Chairman, Pakistan Cricket Board, Shaharyar M Khan. In its last sess
Published 02 Apr, 2016 12:00am
Kenya in 'danger' of missing Olympics

Kenya in 'danger' of missing Olympics

Kenya's Olympic chief warned Friday the east African track giants were in danger of missing Rio after politicians failed to pass a law criminalising sports doping ahead of a key deadline. The World Anti-Doping Agency (WADA) gave Kenya until April 5 to tig
Published 02 Apr, 2016 12:00am
New Zealand's Elliott calls time on one-day cricket

New Zealand's Elliott calls time on one-day cricket

A year after he created what has been considered New Zealand's most memorable cricketing moment, all-rounder Grant Elliott has retired from one-day international cricket. The 37-year-old Elliott hit a six from the penultimate ball off South Africa's Dale
Published 02 Apr, 2016 12:00am
Messi out of this world, says Barca coach Enrique

Messi out of this world, says Barca coach Enrique

Lionel Messi's strike rate "is from another galaxy" Barcelona coach Luis Enrique said on Friday as the Argentine maestro bids to score his 500th career goal in this weekend's 'Clasico'. Messi's penalty against Bolivia in Tuesday's World Cup qualifier took
Published 02 Apr, 2016 12:00am
Dhoni laughs off retirement talk after T20 exit
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Dhoni laughs off retirement talk after T20 exit

India captain Mahendra Singh Dhoni laughed off talk of retirement as he put a brave face on the devastating World Twenty20 semi-final loss to the West Indies. The hosts came into the tournament with sky-high confidence but also widespread speculation that
Published 02 Apr, 2016 12:00am
Di Maria blames van Gaal for United flop

Di Maria blames van Gaal for United flop

Angel di Maria has blamed Louis van Gaal for his miserable spell at Manchester United and claimed he left Old Trafford because it would give him a better chance to win trophies. Di Maria was one of van Gaal's marquee signings when he joined United from Re
Published 02 Apr, 2016 12:00am
Khawaja, Voges, Burns earn Australia contracts

Khawaja, Voges, Burns earn Australia contracts

Usman Khawaja, Adam Voges and Joe Burns were among seven new players to be handed central contracts on Friday as Australia rebuild after a series of retirements. The new players were not on the initial list for the 2016/2017 season announced a year ago bu
Published 02 Apr, 2016 12:00am
We're not a one-man band: Simmons

We're not a one-man band: Simmons

Aggressive opening batsman Chris Gayle usually hogs the headlines but West Indies' advance to the World Twenty20 final against England has shown they are by no means a one-man band, according to batsman Lendl Simmons. Gayle scored an unbeaten century in t
Published 02 Apr, 2016 12:00am
Outrage at UN court's 'rewriting' of Balkans wars

Outrage at UN court's 'rewriting' of Balkans wars

Legal experts and historians have reacted with outrage to the controversial war crimes acquittal of firebrand Serb Vojislav Seselj, saying it overturns international law and rewrites the history of the Balkans conflict. "The decision of the majority (judg
Published 02 Apr, 2016 12:00am
Election clock ticking for France's fumbling Hollande

Election clock ticking for France's fumbling Hollande

After a blistering week in which French President Francois Hollande made a humiliating U-turn on anti-terror measures and faced massive protests over labour reforms, his prospects for re-election next year look increasingly bleak. The 61-year-old Socialis
Published 02 Apr, 2016 12:00am
Indian police file homicide case after flyover collapse kills 23

Indian police file homicide case after flyover collapse kills 23

Indian police on Friday opened a case of culpable homicide against the company that had been building a flyover which collapsed in Kolkata, killing at least 23 people and injuring dozens. Rescuers with cranes and jackhammers struggled on Friday to clear s
Published 02 Apr, 2016 12:00am
North Korea to pursue nuclear and missile programmes: envoy

North Korea to pursue nuclear and missile programmes: envoy

North Korea will pursue its nuclear and ballistic missile programme in defiance of the United States and its allies, a top Pyongyang envoy said on Friday, adding that a state of "semi-war" now existed on the divided Korean peninsula. So Se Pyong, North Ko
Published 02 Apr, 2016 12:00am
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