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Sunday 1, February 2015
 
 
 
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Economy


Russia’s economy to shrink by 3% in 2015: minister

By: Web Desk, Uploaded: 31st January 2015

Russia’s economy to shrink by 3% in 2015: minister MOSCOW: Russia’s economy minister on Saturday said GDP is expected to shrink by three percent in 2015 with oil prices at $50 a barrel, while capital flight is estimated to be $115 billion. The government previously predicted the contraction at 0.8 percent. Inflation predictions have also been revised for the current year from 7.5  percent...


Oil prices rocket by nearly $4 a barrel

By: Web Desk, Uploaded: 31st January 2015

Oil prices rocket by nearly $4 a barrel NEW YORK: Oil prices surged by nearly $4 a barrel in late trade Friday, rebounding from six year lows on month-end covering and signs the industry is quickly tightening exploration activities. After a day trading slightly higher, around the $45 level, the US benchmark West Texas Intermediate crude for March delivery suddenly rocketed to more...


US economic growth in 2014 fastest in four years

By: Web Desk, Uploaded: 31st January 2015

US economic growth in 2014 fastest in four years WASHINGTON: The US economy grew at its fastest pace in four years in 2014, outpacing all of the other major developed countries as consumers gained confidence helped by sinking oil prices. But a slowdown in the fourth quarter bared some of the persistent challenges like the strong dollar to locking the world’s largest economy into...


Philippines enjoys economic rebound to close 2014

By: Web Desk, Uploaded: 29th January 2015

Philippines enjoys economic rebound to close 2014 MANILA: The Philippines beat expectations Thursday after a surprising economic rebound saw growth accelerate in the last three months of 2014, with officials predicting further strong expansion in the year ahead. The country’s economy grew 6.9 percent in the last quarter of 2014, offsetting weak growth in the July September period to boost full year...


Korea blocks North bid for right of arrest in joint zone

By: Web Desk, Uploaded: 27th January 2015

Korea blocks North bid for right of arrest in joint zone SEOUL: South Korea said Tuesday it had blocked a North Korean bid for the right to detain South Korean businessmen working in the Kaesong joint industrial zone in the event of a dispute. The Kaesong complex, which lies about 10 kilometers (six miles) inside North Korea, hosts some 100 Seoul-owned factories where 53,000 North Korean...


Oil prices down in Asia

By: Web Desk, Uploaded: 26th January 2015

Oil prices down in Asia SINGAPORE: Oil fell in Asia Monday after the anti austerity party Syriza swept to victory in Greece’s general elections, dealing a further blow to the struggling euro, analysts said. US benchmark West Texas Intermediate (WTI) for March delivery plunged by as much as 2.7 percent to $44.35 a barrel in New York, and Brent crude...


Euro hits $1.11 in post ECB stimulus slide

By: Web Desk, Uploaded: 24th January 2015

Euro hits $1.11 in post ECB stimulus slide NEW YORK: The euro fell again against the dollar Friday, hitting a new 11 year low a day after the European Central Bank unveiled a vast bond-buying program to revive the euro zone. The currency market also nervously awaited the outcome of Greece’s general elections Sunday, with polls showing the leftist anti-austerity Syriza party would...


Wall Street rides higher in week helped by ECB

By: Web Desk, Uploaded: 24th January 2015

Wall Street rides higher in week helped by ECB NEW YORK: A tumble of blue chip stock shares on Friday failed to erase another week of gains for Wall Street. US stocks managed to claw back most of the losses from the beginning of 2015 buoyed by a larger-than-expected stimulus from the European Central Bank, generally higher corporate earnings and a burst of buying...


Country’s economy moving on right track:Report

By: Web Desk, Uploaded: 23rd January 2015

Country’s economy moving on right track:Report ISLAMABAD: The country’s economy is moving on right track because of prudent economic policies of the government despite challenges on different fronts. According to Radio Pakistan quoting a report of Pakistan Bureau of Statistics, major economic indicators have shown positive signs of sustainable growth owing to improved foreign exchange reserves, workers remittances and increased investment....


Tokyo stocks open down 0.33%

By: Web Desk, Uploaded: 21st January 2015

Tokyo stocks open down 0.33% TOKYO, Jan  21, 2015 (AFP) – Tokyo stocks opened 0.33 percent lower on Wednesday after soaring more than two percent the previous day. The Nikkei 225 index at the Tokyo Stock Exchange slipped 57.58 points to 17,308.72 at the start. The lower opening came after the benchmark index closed up 2.07 percent on Tuesday as...


China’s GDP growth slows to 7.4% in 2014: govt

By: Web Desk, Uploaded: 20th January 2015

China’s GDP growth slows to 7.4% in 2014: govt BEIJING, Jan  20, 2015 (AFP) – China’s gross domestic product (GDP) rose 7.4 percent in 2014, official data showed Tuesday, slumping to a 24-year low as authorities describe slowing expansion as the “new normal” for the world’s second-largest economy. The 2014 figure announced by the National Bureau of Statistics (NBS) was below growth of 7.7...


Asia markets rise, eyes on China data

By: Web Desk, Uploaded: 20th January 2015

Asia markets rise, eyes on China data HONG KONG: Asia markets were mostly on the front foot Tuesday as speculation swirled that the European Central Bank will embark on a huge stimulus programme, while China prepared to unveil economic growth data for 2014. The euro retreated after a minor rally on Monday as traders also nervously awaited an election in Greece that...


Annuity: The way to kick the retirement ‘s headache away

By: Humair Rana, Uploaded: 13th January 2015

Annuity: The way to kick  the retirement ‘s headache  away The best way to counter vexing circumstance after retirement is to get that kind of financial instrument by which someone can receive steady income or lump sum amount that is where annuity serve our purpose. Therefore, excellent way to earn steady income without any worry of market risk is through annuity. Annuity:Annuity is a financial...


Dollar gives up US GDP data gains in Asia

By: Web Desk, Uploaded: 25th December 2014

Dollar gives up US GDP data gains in Asia TOKYO- The dollar lost more ground in thin Asian trade Thursday, after a rally powered by decade-high US economic growth figures. In Tokyo afternoon trade, the US unit bought 120.14 yen, weakening from 120.44 yen in New York, although the greenback was still up from the 119-yen level earlier this week. “With a lack of...


Tokyo stocks close 0.25% down

By: Web Desk, Uploaded: 25th December 2014

Tokyo stocks close 0.25% down TOKYO- Tokyo stocks closed 0.25 percent lower on Thursday, snapping a five day winning streak, as profit-taking and a stronger yen dragged the market down in thin holiday trade. The Nikkei 225 index at the Tokyo Stock Exchange ended down 45.48 points at 17,808.75, while the Topix index of all first-section issues slipped 0.33 percent,...


Japan PM set for re-election after ‘Abenomics’ poll win

By: Web Desk, Uploaded: 24th December 2014

Japan PM set for re-election after ‘Abenomics’ poll win by Shingo ITO TOKYO: – Japanese Prime Minister Shinzo Abe is set to resume office on Wednesday with a broadly similar cabinet tasked with re-igniting the world’s number three economy following his mid-December election triumph. Abe’s incumbent cabinet resigned en masse Wednesday morning with parliament set to elect the 60-year-old premier with an overwhelming majority...


Asian markets dip despite Wall Street record

By: Web Desk, Uploaded: 23rd December 2014

Asian markets dip despite Wall Street record HONG KONG: – Asian markets dipped on Tuesday in thin trade despite a positive lead from Wall Street where indices reached fresh records ahead of the release of key US economic data. Sydney fell 0.79 percent, Shanghai dropped 0.73 percent, and Seoul slipped 0.11 percent in morning trade. Hong Kong rose 0.15 percent while Tokyo...


Fitch raises Egypt’s credit rating to ‘B’

By: Web Desk, Uploaded: 20th December 2014

Fitch raises Egypt’s credit rating to ‘B’ WASHINGTON: – Fitch Ratings upgraded Egypt’s credit rating one rank to “B” with a “stable” outlook Friday, saying the authorities seemed committed to major reforms. “Fuel subsidy cuts and tax hikes have been implemented as part of a clear five-year fiscal consolidation strategy,” Fitch said in upgrading Egypt from a “B-” rating. “Power shortages are...


China total GDP revised up 3.4% in 2013: govt

By: Web Desk, Uploaded: 19th December 2014

China total GDP revised up 3.4% in 2013: govt Beijing: China’s gross domestic product (GDP) turned out to be 3.4 percent larger last year than originally announced, the government said on Friday after a national survey — a revision equal to about the size of Malaysia’s economy. The world’s second biggest economy was valued at 58.80 trillion yuan ($9.5 trillion currently) in 2013, the...


German consumer confidence grows at year-end: survey

By: Web Desk, Uploaded: 19th December 2014

German consumer confidence grows at year-end: survey BERLIN: – Consumer confidence in Germany saw a boost in December as shoppers hit the stores for Christmas and looked ahead to the new year with optimism, a poll found on Friday. After stabilising in November following several months of decline, “consumer sentiment showed solid development in December,” market research company GfK said in a...


China total GDP revised up 3.4% in 2013: govt

By: Web Desk, Uploaded: 19th December 2014

China total GDP revised up 3.4% in 2013: govt BEIJING: – China’s gross domestic product (GDP) turned out to be 3.4 percent larger last year than originally announced, the government said Friday after a national survey — a revision equal to about the size of Malaysia’s economy. The world’s second biggest economy was valued at 58.80 trillion yuan ($9.5 trillion currently) in 2013, the...


BoJ strikes more upbeat view on economy, holds off fresh measures

By: Web Desk, Uploaded: 19th December 2014

BoJ strikes more upbeat view on economy, holds off fresh measures TOKYO: – The Bank of Japan on Friday struck a slightly more upbeat view of the world’s number three economy, saying exports were showing signs of picking up while factory output has started to “bottom out”. The comments came after policymakers wrapped up a two-day meeting where they decided to hold off fresh easing measures,...


Currency crisis poses Putin his biggest challenge

By: Web Desk, Uploaded: 18th December 2014

Currency crisis poses Putin his biggest challenge by Karim TALBI MOSCOW: – He crushed Chechnya’s rebellion, pushed back Russia’s frontiers and restored the pride of a nation humiliated by the demise of the Soviet Union. But 15 years after he came to power Vladimir Putin’s faces his biggest challenge yet: how to manage the worst monetary crisis of his era. Both as...


Spain’s family-run shops face last Christmas as rent controls end

By: Web Desk, Uploaded: 18th December 2014

Spain’s family-run shops face last Christmas as rent controls end by Daniel SILVA MADRID: – On Madrid’s main shopping street, the Gran Via, a toy store that has sold handmade dolls since it opened in 1942 just after Spain’s Civil War, is preparing to close after the Christmas rush. Dolls decked out in classical clothes overflow in the large window of the shop, which is...


Japan trade deficit shrinks again November, but exports weak

By: Web Desk, Uploaded: 17th December 2014

Japan trade deficit shrinks again November, but exports weak TOKYO: – Japan’s trade deficit in November shrank by nearly a third from a year ago, helped by higher exports and falling oil bills, although the volume of shipments to foreign markets remained weak, official data showed Wednesday. The figures come after Japanese Prime Minister Shinzo Abe swept weekend elections he had billed as a...


US Congress extends dozens of tax breaks

By: Hassaan Ali, Uploaded: 17th December 2014

US Congress extends dozens of tax breaks WASHINGTON: – The US Senate approved a sweeping package of tax breaks Tuesday, sending to President Barack Obama a bill that allows individuals and corporations to save billions of dollars on their 2014 taxes. On the Senate’s final day of the year, lawmakers passed some 55 so-called tax extenders, deductions that expired at the end...


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