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  • Bank of England defers review of bank capital until global agreement

    December 3, 2013 9:56 AM 24

    LONDON: The Bank of England won't consider imposing tougher balance sheet curbs on banks until global regulators have agreed a common definition. A summary of discussions by the BoE's Financial Policy Committee, which is tasked with spotting risks to the broader financial system, said it "would return to these issues once an international agreement on the definition

  • Asian shares mostly lower after upbeat US data  

    December 3, 2013 4:55 AM 29

    HONG KONG: Asian markets mostly fell on Tuesday following losses on Wall Street after a better-than-expected US manufacturing report raised the possibility the Federal Reserve will begin winding down its stimulus this month. Japanese shares bucked the downward trend as the yen slipped against the dollar and moved closer to the four-and-a-half-year high touched

  • Dollar rises on strong ISM manufacturing report

    December 3, 2013 4:41 AM 25

    The dollar Monday rose against major currencies after a good manufacturing report boosted speculation that the US Federal Reserve could taper its bond-buying program more quickly. NEW YORK: The dollar Monday rose against major currencies after a good manufacturing report boosted speculation that the US Federal Reserve could taper its bond-buying program

  • False figures disguise size of inflation war

    December 3, 2013 2:53 AM 24

    I strive against cynicism, but I'm losing the fight over the official inflation figures because I don't know anybody who believes that inflation in the 12 months to the end of September was just 1.4 per cent. Rates, power, food, petrol, house prices, house building costs, house insurance, medical insurance ... all of it has been spiralling up faster

  • Spiral Hike: Inflation bounces back, in double digits again

    December 3, 2013 1:49 AM 26

    CPI rises 10.9% on excess­ive curren­cy printi­ng, rise in prices of commod­ities. Inflation in Pakistan bounced back to double digits after a gap of 16 months and hit 10.9% in November despite apprehensions about keeping the figure at a lower level, highlighting the impact of excessive currency note printing and rise in prices of commodities and utilities

  • Market watch: Stock market goes up despite high inflation rates

    December 3, 2013 12:05 AM 19

    Benchm­ark KSE-100 index increa­ses 99.38 points. KARACHI: The stock market opened on a positive note on the last month of the year as the upward trend continued despite the high inflation rates. The Karachi Stock Exchange’s (KSE) benchmark 100-share index rose 0.41 % or 99.38 points to end at 24,401.57. “Stocks opened positive and witnessed a short

  • APCNGA lauds PM package to revive drying investment

    December 2, 2013 9:17 PM 12

    ISLAMABAD - The All Pakistan CNG Association (APCNGA) on Monday lauded the Prime Minister Nawaz Sharif for announcing a comprehensive package to revive drying investments and boost confidence of the downhearted business community. All the problems being faced by Pakistan have something to do with the prevailing economic situation which cannot be addressed

  • Trading food: Food dept officials suspended for selling ‘official’ wheat

    December 2, 2013 9:06 PM 36

    Distri­ct food contro­ller, food inspec­tors caught sellin­g 13,000 wheat bags worth Rs50m. SUKKUR: Three officials from food department were suspended for selling wheat worth millions of rupees in the open market. At a routine checkup, more than 13,000 wheat bags worth Rs50 million were found missing from the warehouse of Garhi Khairo, Jacobabad. The authorities

  • Matter closed: Shangrila Private Ltd avoids CCP bullet

    December 2, 2013 8:17 PM 18

    Compan­y’s market­ing campai­gn discon­tinued to ensure compli­ance. ISLAMABAD: The Competition Commission of Pakistan has accepted commitments made by Shangrila Private Ltd and disposed of the matter, which saw the latter being issued a showcause notice for its first encounter violation of section 10 under the Competition Act that deals with deceptive

  • European stocks sluggish on manufacturing data

    December 2, 2013 7:18 PM 18

    LONDON: European stock markets mostly fell on Monday, making a downbeat start to the week as investors were put off by shrinking manufacturing activity in France and Spain. London's benchmark FTSE 100 index slid 0.70 percent to 6,604.21 points in afternoon deals, Frankfurt's DAX 30 edged up 0.05 percent to 9,409.74 points and in Paris the CAC 40 reversed