Provides the latest RSS feeds for Asia Business News. For more headlines on Breaking, National, Business, Finance, Sports and World News, visit our home page Pakistan Telegraph.com http://www.pakistantelegraph.com/index.php/cat/5e8a9e9456185a7e/ en-us Tue, 21 May 2013 09:07:49 -0400 Tue, 21 May 2013 09:07:49 -0400 30 Bullion traders say the refining of these impure gold bars will be a new line of business in India and jewellers may also look at setting up refineries to ensure a steady supply of the ... http://www.pakistantelegraph.com/index.php/sid/214659481/scat/5e8a9e9456185a7e Tue, 21 May 2013 07:23:35 -0400 http://www.pakistantelegraph.com/index.php/sid/214659481/scat/5e8a9e9456185a7e Coal is literally hot commodity, with most of the country's power and electricity dependent on what is also called 'black gold'. Around 66 per cent of India's power generation is coal ... http://www.pakistantelegraph.com/index.php/sid/214658444/scat/5e8a9e9456185a7e Tue, 21 May 2013 06:27:19 -0400 http://www.pakistantelegraph.com/index.php/sid/214658444/scat/5e8a9e9456185a7e Takahiko Takabayashi (left) presenting the items to Mawutowu Kwesi Brese (right) with health officials. TOYOTA Ghana Company Limited has donated assorted items worth GH6,000 to the Kaneshie Polyclinic in Accra to refurbish the Tuberculosis and Human Immune Deficiency Virus Unit (TB/HIV). The items included 20 bags of cements, 20 packs of floor tiles, 10 gallons of oil and emulsion paint, a 32 ... http://www.pakistantelegraph.com/index.php/sid/214658445/scat/5e8a9e9456185a7e Tue, 21 May 2013 06:19:43 -0400 http://www.pakistantelegraph.com/index.php/sid/214658445/scat/5e8a9e9456185a7e (35 mins ago) Hong Kong stocks closed 0.54 percent lower on Tuesday after a dip on Wall Street ahead of the Federal Reserve chairman's testimony about the US economic outlook. The benchmark Hang Seng Index fell 126.66 points to 23,366.37 on turnover of HK$71.30 billion, AFP reports. Chinese shares closed up 0.22 percent. The benchmark Shanghai Composite Index rose 5.12 points to 2,305.11 ... http://www.pakistantelegraph.com/index.php/sid/214657510/scat/5e8a9e9456185a7e Tue, 21 May 2013 05:01:11 -0400 http://www.pakistantelegraph.com/index.php/sid/214657510/scat/5e8a9e9456185a7e Australia's dollar has received its fair share of whacking lately and perhaps it's time to give the currency a bit of a break, currency strategists say. The Aussie dollar has shed almost 5 percent in the past two weeks against the U.S. dollar, hurt by signs of weakness in the Australian and Chinese economies, broad strength in the greenback and a continued fall in commodity prices. It ... http://www.pakistantelegraph.com/index.php/sid/214656588/scat/5e8a9e9456185a7e Tue, 21 May 2013 04:05:34 -0400 http://www.pakistantelegraph.com/index.php/sid/214656588/scat/5e8a9e9456185a7e I spent one day in Detroit last week moderating a panel for a large Chinese industrial zone as well as for automakers. In the audience were CEOs and others seeking to understand trends in the automotive industry as they relates to China. It was a fascinating discussion. Interestingly, while many consider China as the home of low-cost production, senior executives from companies and government ... http://www.pakistantelegraph.com/index.php/sid/214656587/scat/5e8a9e9456185a7e Tue, 21 May 2013 04:05:33 -0400 http://www.pakistantelegraph.com/index.php/sid/214656587/scat/5e8a9e9456185a7e Bullion traders say the refining of these impure gold bars will be a new line of business in India and jewellers may also look at setting up refineries to ensure a steady supply of the ... http://www.pakistantelegraph.com/index.php/sid/214656589/scat/5e8a9e9456185a7e Tue, 21 May 2013 04:01:51 -0400 http://www.pakistantelegraph.com/index.php/sid/214656589/scat/5e8a9e9456185a7e * Real estate and banks weak on sector rotation - analyst * Retail investors pick up underperformers such as Sharp, TEPCO * SoftBank slips, Sprint permitted discussions with Dish By Ayai Tomisawa TOKYO, May 21 (Reuters) - Japan's Nikkei share average edged up to a fresh 5-1/2-year high on Tuesday, reversing earlier losses, as retail investors scooped up underperforming stocks such as Sharp ... http://www.pakistantelegraph.com/index.php/sid/214656590/scat/5e8a9e9456185a7e Tue, 21 May 2013 03:07:04 -0400 http://www.pakistantelegraph.com/index.php/sid/214656590/scat/5e8a9e9456185a7e Sensex failed to maintain the early momentum on selling pressure mainly in Auto, realty, power and capital goods counters amidst bearish Asian cues. The BSE sensex opened slightly higher at 20,227.17 and advanced further to 20,288.76 before quoting at 20,200.15 at 1030hrs, showing a loss of 23.83 points or 0.12% from its last close. The NSE ... http://www.pakistantelegraph.com/index.php/sid/214655703/scat/5e8a9e9456185a7e Tue, 21 May 2013 02:57:30 -0400 http://www.pakistantelegraph.com/index.php/sid/214655703/scat/5e8a9e9456185a7e dollar in late morning deals owing to exporters selling, despite higher dollar overseas. The rupee opened higher at 54.97 per dollar as against the previous closing level of 55.11 at the Interbank Foreign Exchange (Forex) market. It gained further to 54.95 in early deals, before quoting 55.06 per dollar at 1100 hrs, still up by 5 paise over its last ... http://www.pakistantelegraph.com/index.php/sid/214655705/scat/5e8a9e9456185a7e Tue, 21 May 2013 02:57:29 -0400 http://www.pakistantelegraph.com/index.php/sid/214655705/scat/5e8a9e9456185a7e NEW DELHI: Gold prices recovered by Rs 70, or 0.27% to Rs 26,274 per 10 grams in futures trade as speculators created fresh positions taking positive cues from the global market. At the Multi Commodity Exchange, gold for delivery in far-month August by Rs 70, or 0.27%, to Rs 26,274 per 10 gram in business turnover of 98 lots. The metal for delivery in the June moved up by Rs 69, or 0.26%, to Rs ... http://www.pakistantelegraph.com/index.php/sid/214655704/scat/5e8a9e9456185a7e Tue, 21 May 2013 02:57:28 -0400 http://www.pakistantelegraph.com/index.php/sid/214655704/scat/5e8a9e9456185a7e Vodafone posted its largest ever quarterly fall in key organic service revenue on Tuesday, prompting it to keep hold of a dividend from its US arm and reinvest it into the business and not return it to shareholders. The world's second largest mobile operator, at the centre of intense speculation as to whether it will sell its US arm in one of the world's largest deals, posted a 4.2% ... http://www.pakistantelegraph.com/index.php/sid/214655706/scat/5e8a9e9456185a7e Tue, 21 May 2013 02:57:28 -0400 http://www.pakistantelegraph.com/index.php/sid/214655706/scat/5e8a9e9456185a7e (20 mins ago) Tokyo stocks rose 0.13 percent on Tuesday, recouping early losses as the dollar turned higher against the yen. The benchmark Nikkei 225 index closed up 20.21 points to 15,381.02, its best close since December 2007, while the Topix index of all first-section issues gained 0.07 percent or 0.88 points to 1,270.39, AFP ... http://www.pakistantelegraph.com/index.php/sid/214655707/scat/5e8a9e9456185a7e Tue, 21 May 2013 02:50:56 -0400 http://www.pakistantelegraph.com/index.php/sid/214655707/scat/5e8a9e9456185a7e Although inflation-indexed bonds prove beneficial during times of high inflation, they underperform when the economy goes through a deflationary ... http://www.pakistantelegraph.com/index.php/sid/214655708/scat/5e8a9e9456185a7e Tue, 21 May 2013 02:41:53 -0400 http://www.pakistantelegraph.com/index.php/sid/214655708/scat/5e8a9e9456185a7e Honda Amaze diesel vs Maruti DZire diesel: Comparison Honda has finally gone the diesel way and the Amaze is the big H's first ever oil burning ... http://www.pakistantelegraph.com/index.php/sid/214655487/scat/5e8a9e9456185a7e Tue, 21 May 2013 01:38:53 -0400 http://www.pakistantelegraph.com/index.php/sid/214655487/scat/5e8a9e9456185a7e Australia's central bank felt it needed to cut interest rates at its May meeting because the economy was still growing at a below-potential pace and inflation was not a threat. Yet minutes of the Reserve Bank of Australia's (RBA) May 7 meeting revealed that board members were keenly aware that past rate cuts are still working through the economy. ... http://www.pakistantelegraph.com/index.php/sid/214653976/scat/5e8a9e9456185a7e Tue, 21 May 2013 00:54:28 -0400 http://www.pakistantelegraph.com/index.php/sid/214653976/scat/5e8a9e9456185a7e Members are registered users on Timesofindia.com. Only they are qualified to earn badges and points for their activities. So register and get a badge right ... http://www.pakistantelegraph.com/index.php/sid/214653977/scat/5e8a9e9456185a7e Tue, 21 May 2013 00:50:35 -0400 http://www.pakistantelegraph.com/index.php/sid/214653977/scat/5e8a9e9456185a7e (26 mins ago) Stocks in Hong Kong were down 0.50 percent by the break after a dip on Wall Street ahead of the Federal Reserve chairman's testimony on the US economic outlook. The benchmark Hang Seng Index fell 117.49 points to 23,375.54 by the noon break on turnover of HK$40.36 billion. Fed chairman Ben Bernanke is due to give testimony to Congress on Wednesday. ... http://www.pakistantelegraph.com/index.php/sid/214653979/scat/5e8a9e9456185a7e Tue, 21 May 2013 00:44:13 -0400 http://www.pakistantelegraph.com/index.php/sid/214653979/scat/5e8a9e9456185a7e (1 hr 2 mins ago) Stocks in Tokyo were flat by the midday break, recouping early losses as the dollar turned higher against the yen. The benchmark Nikkei 225 index, which closed yesterday at its best level since December 2007, was up 0.05 percent, or 8.32 points, at 15,369.13 by the break. The Topix index of all first-section issues gained 0.25 percent or 3.15 points to ... http://www.pakistantelegraph.com/index.php/sid/214653978/scat/5e8a9e9456185a7e Tue, 21 May 2013 00:44:11 -0400 http://www.pakistantelegraph.com/index.php/sid/214653978/scat/5e8a9e9456185a7e Reports that China may step up the diversification of its huge foreign exchange reserves is not great news for U.S. Treasurys, already under pressure from talk about an easing in the Federal Reserve's bond-buying program. But, the fall-out from such a move is likely to be limited, analysts say. The body that manages China's currency reserves has set up an operation in New York to invest ... http://www.pakistantelegraph.com/index.php/sid/214653094/scat/5e8a9e9456185a7e Mon, 20 May 2013 23:51:09 -0400 http://www.pakistantelegraph.com/index.php/sid/214653094/scat/5e8a9e9456185a7e David McAlvany, CEO of McAlvany Financial Group says the divergence in trade between the S&P 500 and copper means one market is getting it wrong and he expects copper to bounce ... http://www.pakistantelegraph.com/index.php/sid/214653109/scat/5e8a9e9456185a7e Mon, 20 May 2013 23:51:09 -0400 http://www.pakistantelegraph.com/index.php/sid/214653109/scat/5e8a9e9456185a7e pilot s have been told that until Sept 30, those who quit may have their bonds waived. The usual payback for leaving before serving the seven-year work bond can be more than S$250,000 ... http://www.pakistantelegraph.com/index.php/sid/214653110/scat/5e8a9e9456185a7e Mon, 20 May 2013 23:50:41 -0400 http://www.pakistantelegraph.com/index.php/sid/214653110/scat/5e8a9e9456185a7e " alt="Why wait until you fly to choose your meal?" style="position: absolute; top: 50%; left: 50%; margin-left: -233.5px; margin-top: -130px;" title="Why wait until you fly to choose your meal?" ... http://www.pakistantelegraph.com/index.php/sid/214653111/scat/5e8a9e9456185a7e Mon, 20 May 2013 23:48:36 -0400 http://www.pakistantelegraph.com/index.php/sid/214653111/scat/5e8a9e9456185a7e KARACHI: Five sectors of the economy presently enjoy over 81 percent of duty and tax exemptions at the import stage, sources in Pakistan Customs said on Monday. They said this regime - sanctioned by the Federal Board of Revenue (FBR) - demonstrated inequality in the system and had hampered the growth of other sectors, A study conducted by Pakistan Customs revealed that 81.4 percent of allowed ... http://www.pakistantelegraph.com/index.php/sid/214652176/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:05 -0400 http://www.pakistantelegraph.com/index.php/sid/214652176/scat/5e8a9e9456185a7e KARACHI: Gillette Pakistan has shot down rumours regarding its impending delisting from the Karachi Stock Exchange (KSE). Sources in the stock market told The News on Monday that the company is planning a buyback of its ordinary shares and subsequent delisting from the KSE . However, deputy CFO Asif Khan at Gillette Pakistan denies plans to buyback all shares and subsequently delist from the ... http://www.pakistantelegraph.com/index.php/sid/214652177/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:05 -0400 http://www.pakistantelegraph.com/index.php/sid/214652177/scat/5e8a9e9456185a7e LAHORE: The Ministry of Water Resources (Iraq) has awarded an irrigation project known as East Gharaf to National Engineering Services Pakistan (Pvt) Limited (Nespak), said a Nespak spokesperson. The spokesperson said that Dr Mansoor Ahmad Hashmi, vice president of Water Resources Division at Nespak, will proceed to Iraq by the end of this month to sign the agreement with the Ministry of Water ... http://www.pakistantelegraph.com/index.php/sid/214652185/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:04 -0400 http://www.pakistantelegraph.com/index.php/sid/214652185/scat/5e8a9e9456185a7e ISLAMABAD: The Federal Board of Revenue (FBR) is unlikely to achieve the revised tax collection target of Rs2,050 billion till June 30 due to the infighting within the tax collection machinery, official sources said on Monday. The tax target for the current fiscal year was fixed at Rs2,381 billion, which was revised downward to Rs2,193 billion and again revised down to Rs2,050 billion but ... http://www.pakistantelegraph.com/index.php/sid/214652184/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:04 -0400 http://www.pakistantelegraph.com/index.php/sid/214652184/scat/5e8a9e9456185a7e KARACHI: The number of individual or retail investors has declined by more than 30 percent in the last five years, a KSE official said on Monday. That is despite the fact that the Karachi Stock Exchange (KSE) benchmark 100-index has crossed the 20,000-mark. As the regulators have stopped supporting small traders, banks are no longer financing them, the official added. "Small investors are ... http://www.pakistantelegraph.com/index.php/sid/214652182/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:03 -0400 http://www.pakistantelegraph.com/index.php/sid/214652182/scat/5e8a9e9456185a7e DOHA: Three Qatari state-backed entities, including the Gulf Arab nation's acquisitive sovereign wealth fund, are setting up a $1 billion fund to invest in overseas energy infrastructure assets. The new fund will be run by Qatar Holding, Qatar Petroleum International and Qatar Electricity and Water Company (QEWC), a bourse filing from QEWC said on Monday. A country with one of the highest ... http://www.pakistantelegraph.com/index.php/sid/214652181/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:03 -0400 http://www.pakistantelegraph.com/index.php/sid/214652181/scat/5e8a9e9456185a7e KARACHI: Pakistan is likely to hit a macroeconomic crisis if much-needed fiscal reforms are not implemented, according to a State Bank of Pakistan (SBP) report. Early warning indicators specific to the fiscal and debt sustainability of the country present a gloomy picture, the SBP report said, citing a survey conducted on advanced and emerging countries. The survey, which said domestic debt ... http://www.pakistantelegraph.com/index.php/sid/214652183/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:03 -0400 http://www.pakistantelegraph.com/index.php/sid/214652183/scat/5e8a9e9456185a7e LAHORE: Increasing tax revenues may remain a pipedream until policymakers' ensure the elimination of incompetent administration and human resources, experts said on Monday They also stressed the use technology to promote transparency and plug loopholes that encourage under-invoicing and smuggling. "Increasing the tax base will not be possible if the leakages within revenue collection ... http://www.pakistantelegraph.com/index.php/sid/214652180/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:02 -0400 http://www.pakistantelegraph.com/index.php/sid/214652180/scat/5e8a9e9456185a7e LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the Federal Board of Revenue (FBR) to immediately announce a reduction in taxes on the import of hybrid electric cars. LCCI President Farooq Iftikhar said a switch to hybrid technology would help reduce the current load on CNG and help bring the galloping oil import bill for Pakistan under control. He requested the FBR to ... http://www.pakistantelegraph.com/index.php/sid/214652179/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:01 -0400 http://www.pakistantelegraph.com/index.php/sid/214652179/scat/5e8a9e9456185a7e SAN FRANCISCO: Yahoo Inc said it is buying blogging service Tumblr for $1.1 billion cash, giving the struggling internet pioneer a much-needed platform in social media to reach a younger generation of users. The deal, announced on Monday, is a bold bet by Yahoo Chief Executive Marissa Mayer to revitalise the company by co-opting a web property with strong visitor traffic but little revenue. The ... http://www.pakistantelegraph.com/index.php/sid/214652178/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:01 -0400 http://www.pakistantelegraph.com/index.php/sid/214652178/scat/5e8a9e9456185a7e KARACHI: Pakistan Airline Pilots' Association (PALPA) has suggested a two-phase PIA fleet renewal plan, considering the national airline's current liabilities and financial health. In a statement Monday, PALPA suggested measures to overcome the problems being faced by the new management under the chairmanship of Lt Gen (R) Asif Yasin Malik. "Phase one will help maintain schedule ... http://www.pakistantelegraph.com/index.php/sid/214652186/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:01 -0400 http://www.pakistantelegraph.com/index.php/sid/214652186/scat/5e8a9e9456185a7e KARACHI: The second international building and construction technology, materials exhibition would be organised from May 24, a statement said. The inaugural ceremony of the three-day event will be held at the Expo Centre Lahore in collaboration with STONECA - the stone expo, it said. According to the organisers, the construction industry is the backbone of the economic growth of any region across ... http://www.pakistantelegraph.com/index.php/sid/214652188/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:00 -0400 http://www.pakistantelegraph.com/index.php/sid/214652188/scat/5e8a9e9456185a7e LAHORE: All Pakistan Textile Mills Association (APTMA) Chairman Ahsan Bashir has expressed concern over the prevailing energy crisis and its adverse effect on the textile industry. Bashir said various textile mills are being exposed to 16-18 hours of power disruptions on a daily basis despite an exemption in place around the same time last year to curtail outages to the textile industry on ... http://www.pakistantelegraph.com/index.php/sid/214652187/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:39:00 -0400 http://www.pakistantelegraph.com/index.php/sid/214652187/scat/5e8a9e9456185a7e LAHORE: The Lahore Chamber of Commerce and Industry on Monday took a strong exception to Pakistan Telecommunication Authority (PTA) for creating undue hurdles in the way of genuine importers. In a statement issued here, the LCCI President Farooq Iftikhar said that the PTA is meant to supplement government's efforts aimed at promotion of documented economy but it seems that the PTA's ... http://www.pakistantelegraph.com/index.php/sid/214652197/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:38:59 -0400 http://www.pakistantelegraph.com/index.php/sid/214652197/scat/5e8a9e9456185a7e NEW YORK: Hope is fading for a global deal to regulate the airline industry's greenhouse gas emissions ahead of a fall deadline, even though failure could push the industry back to the brink of a trade war over the European Union's emissions trading system. Last November the EU suspended its controversial scheme to force all airlines to buy carbon credits for any flight arriving in or ... http://www.pakistantelegraph.com/index.php/sid/214652198/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:38:59 -0400 http://www.pakistantelegraph.com/index.php/sid/214652198/scat/5e8a9e9456185a7e KARACHI: Korangi Association of Trade and Industry (KATI) has praised the road map developed by a taskforce formed by PML-N chief Mian Nawaz Sharif for resolving the energy crisis. In a statement issued on Monday, KATI parton-in-chief S. M. Muneer and chairman Mohammad Zubair Chhaya hoped that the taskforce would chalk out sustainable policies to overcome gas and electricity shortages. The plan, ... http://www.pakistantelegraph.com/index.php/sid/214652196/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:38:58 -0400 http://www.pakistantelegraph.com/index.php/sid/214652196/scat/5e8a9e9456185a7e HONG KONG: China, the world's largest mobile phone market by subscribers, posted a 0.9 percent monthly increase in the number of mobile subscribers to 1.16 billion in April, data from the country's three telecommunications operators ... http://www.pakistantelegraph.com/index.php/sid/214652195/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:38:58 -0400 http://www.pakistantelegraph.com/index.php/sid/214652195/scat/5e8a9e9456185a7e The Karachi Stock Exchange continued the jubilation of democratic process even after one week of general elections and the benchmark 100-share index increased by 277.11 points on Monday to a new all time high of 20,814.14 points on foreign buying, dealers said. Zafar Moti, an analyst and senior member of the KSE, said the market stayed positive despite the concerns of the traders about consistent ... http://www.pakistantelegraph.com/index.php/sid/214652193/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:38:57 -0400 http://www.pakistantelegraph.com/index.php/sid/214652193/scat/5e8a9e9456185a7e TOKYO: Japan risks missing, yet again, an opportunity to use foreign investment to help fuel sustained economic growth that has eluded it for the last two decades. Prime Minister Shinzo Abe pledged to make Japan "the world's easiest country for companies to do business in" as part of his economic revival plan, which so far has been largely met with approval. The stock market has ... http://www.pakistantelegraph.com/index.php/sid/214652194/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:38:57 -0400 http://www.pakistantelegraph.com/index.php/sid/214652194/scat/5e8a9e9456185a7e Karachi Port and Port Qasim handled a cargo volume of 355,044 tons during the last 24 hours that included 302,091 tons of imports and 52,953 tons of exports, the two ports reported on Monday. Accordingly, Karachi Port handled imports, including containerised cargo (89,922 tons), bulk cargo (18,594 tons), coal (26,909 tons), sulphur (1,996 tons), and oil / liquid cargo (10,630 tons). It handled ... http://www.pakistantelegraph.com/index.php/sid/214652192/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:38:56 -0400 http://www.pakistantelegraph.com/index.php/sid/214652192/scat/5e8a9e9456185a7e Karachi The rupee-dollar parity closed nearly firm on Monday due to slow trading activity at the foreign exchange market, dealers said. In the interbank market, the rupee closed at 98.43 against the dollar from the previous closing of 98.42. The local currency was being traded for 98.42 for buying and 98.44 for selling. The interbank forex market initiated the day in the range of 98.46 and 98.50 ... http://www.pakistantelegraph.com/index.php/sid/214652191/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:38:56 -0400 http://www.pakistantelegraph.com/index.php/sid/214652191/scat/5e8a9e9456185a7e Karachi Cotton markets in Pakistan remained virtually closed as traders exchanged 400 bales (155 kilograms) in the country during the last 24 hours, the Karachi Cotton Exchange (KCE) reported on Monday. "The worsening electricity crisis has resulted in almost no trade in cotton," Naseem Usman, a broker at the KCE, said, adding that the week is expected to maintain dull trading. Trading ... http://www.pakistantelegraph.com/index.php/sid/214652189/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:38:54 -0400 http://www.pakistantelegraph.com/index.php/sid/214652189/scat/5e8a9e9456185a7e Gold fell for an eighth straight session on Monday to its weakest level in over a month, as fears that the US Federal Reserve may wind back its economic stimulus programme hurt the metal's appeal as a hedge against inflation. Investors have been dumping gold, which is down 20 percent so far this year, as stocks and the dollar continue to outperform. If gold closes in the red on Monday, it ... http://www.pakistantelegraph.com/index.php/sid/214652190/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:38:54 -0400 http://www.pakistantelegraph.com/index.php/sid/214652190/scat/5e8a9e9456185a7e (9 mins ago) Stocks in Hong Kong opened down 0.37 percent after Wall Street closed slightly lower in cautious trade ahead of the Federal Reserve chairman's testimony to Congress on the US economic outlook. The benchmark Hang Seng Index fell 87.80 points to 23,405.23 in the first minutes of trade. Fed chairman Ben Bernanke is due to give testimony to Congress on Wednesday. In Shanghai, ... http://www.pakistantelegraph.com/index.php/sid/214652199/scat/5e8a9e9456185a7e Mon, 20 May 2013 22:38:40 -0400 http://www.pakistantelegraph.com/index.php/sid/214652199/scat/5e8a9e9456185a7e * Sony Financial falls after earnings guidance disappoints * SoftBank slips, Sprint permitted discussions with Dish By Dominic Lau TOKYO, May 21 (Reuters) - Japan's Nikkei average eased from a 5-1/2-year high on Tuesday after Wall Street gave up earlier gains to end flat and the dollar slipped against the yen on caution before U.S. Federal Reserve Chairman Ben Bernanke fronts a Congressional ... http://www.pakistantelegraph.com/index.php/sid/214652200/scat/5e8a9e9456185a7e Mon, 20 May 2013 21:17:57 -0400 http://www.pakistantelegraph.com/index.php/sid/214652200/scat/5e8a9e9456185a7e Virgin Australia has appointed the Flight Centre and Qantas senior sales and general manager, Judith Crompton, to the newly created role of chief commercial officer. Announced this week, Ms Crompton will be responsible for the carrier’s alliances, network, revenue management and sales covering its domestic and international network. Virgin Australia chief executive John Borghetti said ... http://www.pakistantelegraph.com/index.php/sid/214650096/scat/5e8a9e9456185a7e Mon, 20 May 2013 20:36:26 -0400 http://www.pakistantelegraph.com/index.php/sid/214650096/scat/5e8a9e9456185a7e " alt="Cathay is already making plans for its first Airbus A350, due in early 2016" style="position: absolute; top: 50%; left: 50%; margin-left: -233.5px; margin-top: -130px;" title="Cathay is already making plans for its first Airbus A350, due in early 2016" ... http://www.pakistantelegraph.com/index.php/sid/214650088/scat/5e8a9e9456185a7e Mon, 20 May 2013 20:33:13 -0400 http://www.pakistantelegraph.com/index.php/sid/214650088/scat/5e8a9e9456185a7e stating that some among the 26 state-owned lenders may be better off merging. "Some banks, including among 26 public sector banks that we have, may be better off merging," Chidambaram said in his inaugural lecture on the occasion of Annual Day of Competition Commission of India. "The need for two or three world-sized banks in an economy that is poised to become one among the five ... http://www.pakistantelegraph.com/index.php/sid/214650097/scat/5e8a9e9456185a7e Mon, 20 May 2013 20:31:29 -0400 http://www.pakistantelegraph.com/index.php/sid/214650097/scat/5e8a9e9456185a7e Oil minister Veerappa Moily has ordered the setting up of a committee headed by Kirit Parikh to examine the export parity pricing formula that is being pushed by North Block to lower the Centre's subsidy ... http://www.pakistantelegraph.com/index.php/sid/214650098/scat/5e8a9e9456185a7e Mon, 20 May 2013 20:31:28 -0400 http://www.pakistantelegraph.com/index.php/sid/214650098/scat/5e8a9e9456185a7e Although inflation-indexed bonds prove beneficial during times of high inflation, they underperform when the economy goes through a deflationary ... http://www.pakistantelegraph.com/index.php/sid/214650099/scat/5e8a9e9456185a7e Mon, 20 May 2013 20:31:27 -0400 http://www.pakistantelegraph.com/index.php/sid/214650099/scat/5e8a9e9456185a7e U.S. President Barack Obama listens while meeting with Myanmar's President Thein Sein in the Oval Office at the White House in Washington May 20, ... http://www.pakistantelegraph.com/index.php/sid/214644019/scat/5e8a9e9456185a7e Mon, 20 May 2013 18:00:02 -0400 http://www.pakistantelegraph.com/index.php/sid/214644019/scat/5e8a9e9456185a7e Mon May 20, 2013 2:50pm EDT (Reuters) - Softbank Corp (9984.T) is seeking to raise about 400 billion yen ($3.90 billion) through a sale of retail bonds to finance its bid for No.3 U.S. mobile phone carrier Sprint Nextel Corp (S.N), the Nikkei reported. The proceeds from the offering, which is expected to be launched as early as next month, will also be used for redeeming existing bonds, the ... http://www.pakistantelegraph.com/index.php/sid/214641315/scat/5e8a9e9456185a7e Mon, 20 May 2013 14:50:00 -0400 http://www.pakistantelegraph.com/index.php/sid/214641315/scat/5e8a9e9456185a7e Toyota Motor Corp. is planning to increase production of lithium-ion batteries by six times, as the automaker prepares to eventually use them in its flagship Prius gasoline-electric hybrid cars, the Nikkei business daily reported on Sunday. Currently, most of Toyota's hybrid vehicles use nickel-metal hydride batteries but the automaker is planning to make more cars with lithium-ion ... http://www.pakistantelegraph.com/index.php/sid/214639894/scat/5e8a9e9456185a7e Mon, 20 May 2013 14:34:18 -0400 http://www.pakistantelegraph.com/index.php/sid/214639894/scat/5e8a9e9456185a7e bitcoin exchange, traders and other people interested in the digital currency are looking nervously at the future. Bitcoins have always operated outside of the established financial system, so does the action by ... http://www.pakistantelegraph.com/index.php/sid/214638515/scat/5e8a9e9456185a7e Mon, 20 May 2013 13:47:35 -0400 http://www.pakistantelegraph.com/index.php/sid/214638515/scat/5e8a9e9456185a7e ';I was stopped by two men in a government-registered vehicle, blindfolded and dragged off the street. They took me away to a house in a place I did not know. I was forced into a room with blood all over the walls and floor, ... http://www.pakistantelegraph.com/index.php/sid/214637146/scat/5e8a9e9456185a7e Mon, 20 May 2013 12:25:28 -0400 http://www.pakistantelegraph.com/index.php/sid/214637146/scat/5e8a9e9456185a7e Although inflation-indexed bonds prove beneficial during times of high inflation, they underperform when the economy goes through a deflationary ... http://www.pakistantelegraph.com/index.php/sid/214634319/scat/5e8a9e9456185a7e Mon, 20 May 2013 10:14:18 -0400 http://www.pakistantelegraph.com/index.php/sid/214634319/scat/5e8a9e9456185a7e pharma retail market has shown signs of recovery with a 9.7% growth in April this year, as against 5.6% in March 2013, according to data from AIOCD ... http://www.pakistantelegraph.com/index.php/sid/214633115/scat/5e8a9e9456185a7e Mon, 20 May 2013 09:27:21 -0400 http://www.pakistantelegraph.com/index.php/sid/214633115/scat/5e8a9e9456185a7e ONGC and OIL as well as private firms like Reliance Industries to $6.7, less than $8-8.5 hike previously expected. In a note for the Cabinet Committee on Economic Affairs (CCEA), the ministry has proposed ... http://www.pakistantelegraph.com/index.php/sid/214631942/scat/5e8a9e9456185a7e Mon, 20 May 2013 08:28:23 -0400 http://www.pakistantelegraph.com/index.php/sid/214631942/scat/5e8a9e9456185a7e The BSE Sensex snapped a four-day winning streak on Monday, retreating from two-and-a-half-year highs as investors booked profits on rate-sensitive stocks such as ICICI ... http://www.pakistantelegraph.com/index.php/sid/214630881/scat/5e8a9e9456185a7e Mon, 20 May 2013 07:29:05 -0400 http://www.pakistantelegraph.com/index.php/sid/214630881/scat/5e8a9e9456185a7e There will be no Triple Crown winner again this year, but Orb's defeat in the Preakness Stakes does tee up an interesting summer of racing. Meanwhile, some other potential stars, including Last Gunfighter and Fiftyshadesofhay, emerged from the weekend of racing at Pimlico. Hong Kong horses ran off with both of Singapore's International Group 1 races, Farhh provided a bright spot for ... http://www.pakistantelegraph.com/index.php/sid/214631740/scat/5e8a9e9456185a7e Mon, 20 May 2013 07:11:38 -0400 http://www.pakistantelegraph.com/index.php/sid/214631740/scat/5e8a9e9456185a7e WestnEast, a traditional Korean pancake house in the hip shopping area of Garosugil in Seoul, used to be big hit with Japanese tourists when it first opened four years ago, being featured in a famous Japanese travel magazine. But now the caf is feeling the pinch from dwindling Japanese customers. "Nearly 40 percent of our revenue used to come from Japanese customers, but that's dropped ... http://www.pakistantelegraph.com/index.php/sid/214629271/scat/5e8a9e9456185a7e Mon, 20 May 2013 06:35:43 -0400 http://www.pakistantelegraph.com/index.php/sid/214629271/scat/5e8a9e9456185a7e North Korea fired another short-rangemissileinto the Sea of Japan on Monday, the latest in a series ofmissiledrills that have been condemned by South Korea and UN chief Ban ... http://www.pakistantelegraph.com/index.php/sid/214627292/scat/5e8a9e9456185a7e Mon, 20 May 2013 04:43:27 -0400 http://www.pakistantelegraph.com/index.php/sid/214627292/scat/5e8a9e9456185a7e (11 mins ago) Hong Kong shares finished 1.78 percent higher on Monday following a three-day weekend, reflecting a bullish mood on Wall Street which ended last week at another all-time high. The benchmark Hang Seng Index added 410.35 points to end at 23,493.03 on turnover of HK$69.06 billion, AFP reports. Chinese shares closed up 0.75 percent on Monday as investors hunted for bargains in ... http://www.pakistantelegraph.com/index.php/sid/214626871/scat/5e8a9e9456185a7e Mon, 20 May 2013 04:35:07 -0400 http://www.pakistantelegraph.com/index.php/sid/214626871/scat/5e8a9e9456185a7e Jonathan Garner, MD & Chief Asia and Emerging Market Equity Strategist, Morgan Stanley explains his bullish stance on the Hong Kong benchmark ... http://www.pakistantelegraph.com/index.php/sid/214625093/scat/5e8a9e9456185a7e Mon, 20 May 2013 02:57:16 -0400 http://www.pakistantelegraph.com/index.php/sid/214625093/scat/5e8a9e9456185a7e Silver futures on Monday tumbled 4 per cent to hit the lower circuit at Rs 40,912 per kg, the lowest level in 31 months, largely in tandem with a weakening trend overseas. At ... http://www.pakistantelegraph.com/index.php/sid/214625094/scat/5e8a9e9456185a7e Mon, 20 May 2013 02:54:31 -0400 http://www.pakistantelegraph.com/index.php/sid/214625094/scat/5e8a9e9456185a7e At a certain level, there can be no bigger act of cheating than of players who deliberately underperform for material gain for sport works entirely on ... http://www.pakistantelegraph.com/index.php/sid/214625095/scat/5e8a9e9456185a7e Mon, 20 May 2013 02:54:30 -0400 http://www.pakistantelegraph.com/index.php/sid/214625095/scat/5e8a9e9456185a7e (27 mins ago) Stocks in Tokyo gained 1.47 percent as investors renewed their hopes for Tokyo's growth policy while strong US data and the weaker yen continued to encourage investors. The benchmark Nikkei 225 index soared 222.69 points to 15,360.81, the best close since December 2007. The Topix index of all first-section issues climbed 1.30 percent or 16.27 points to 1,269.51. ... http://www.pakistantelegraph.com/index.php/sid/214625097/scat/5e8a9e9456185a7e Mon, 20 May 2013 02:48:17 -0400 http://www.pakistantelegraph.com/index.php/sid/214625097/scat/5e8a9e9456185a7e futures trade in line with weak overseas trends. Gold prices, which had been plummeting since last week, fell by another Rs 399, or 1.54%, to trade at a Rs 25,556 per 10 grams for delivery in August at the Multi Commodity Exchange. The June contract of gold dropped by Rs 380, or 1.47%, to Rs 25,455 per 10 gm in 2,432 ... http://www.pakistantelegraph.com/index.php/sid/214624506/scat/5e8a9e9456185a7e Mon, 20 May 2013 02:02:41 -0400 http://www.pakistantelegraph.com/index.php/sid/214624506/scat/5e8a9e9456185a7e There is no case for downgrading India's sovereign credit rating, economic affairs secretary Arvind Mayaram told the news channel ET Now on Monday, after Standard & Poor's reiterated its negative outlook on the country's credit ... http://www.pakistantelegraph.com/index.php/sid/214624507/scat/5e8a9e9456185a7e Mon, 20 May 2013 02:02:40 -0400 http://www.pakistantelegraph.com/index.php/sid/214624507/scat/5e8a9e9456185a7e Toyota is planning a giant increase in production of lithium ion batteries as prepares to use them in its flagship Prius sedan, Reuters reports. Toyota plans a six-fold boost in it use of the batteries, ... http://www.pakistantelegraph.com/index.php/sid/214624508/scat/5e8a9e9456185a7e Mon, 20 May 2013 02:01:26 -0400 http://www.pakistantelegraph.com/index.php/sid/214624508/scat/5e8a9e9456185a7e