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July 17, 2018 12:00 AM ShFE launches new fuel oil contract

BEIJING: The Shanghai Futures Exchange (ShFE) launched 380-centistoke bonded fuel oil contract on Monday, the exchange said in a press release. Trading volume of the futures by market close reached 59,658 lots, at 1.8 billion yuan ($269.80 million), according to the exchange. Sinopec and China National Petroleum Corp (CNPC) among other oil and chemical

July 15, 2018 12:00 AM Liverpool sign Swiss winger Shaqiri

LONDON: Liverpool have signed Switzerland international Xherdan Shaqiri from Stoke City, the English Premier League giants announced Friday. The Reds said he had signed “a long-term contract”, with British media reports saying Shaqiri had arrived at Anfield in a five-year deal for £13 million ($17 million, 15 million euros). The 26-year-old winger’s

July 13, 2018 12:00 AM Poland names former captain Brzeczek as new coach

WARSAW: Jerzy Brzeczek, a former captain of Poland’s national team, has been chosen as the team’s new coach after Adam Nawalka’s contract was not extended following Poland’s World Cup exit, the Polish Football Association said in a statement on Thursday. Midfielder Brzeczek was part of the team which won a silver medal at the 1992 Olympics in Barcelona 3

July 12, 2018 12:00 AM Benitez keen on staying, but squad needs to improve

LONDON: Newcastle United manager Rafa Benitez was keen to stay at the Premier League side for “five or 10 years” provided he and the team’s ownership can work in unison to improve their squad. Benitez arrived at St James’ Park in 2016 and led the team back to the Premier League and then ensured their top-flight survival last season.The 58-year-old is in discussions 2

July 11, 2018 12:00 AM Torres joins Japan relegation battlers Sagan Tosu

TOKYO: Former Spain World Cup winner Fernando Torres has signed for Japan’s Sagan Tosu, the J-League club said on Tuesday. The former Liverpool, Chelsea and Spain striker left Atletico Madrid this summer after returning to his boyhood club in 2015.Details of the move were not disclosed but the 34-year-old Torres has reportedly joined the relegation-threatened 1

July 6, 2018 12:00 AM Costa Rica splits with coach Ramirez

SAN JOSE: Costa Rica’s football federation has parted ways with coach Oscar Ramirez after a disappointing World Cup showing by the Central American nation. “Oscar Ramirez will not continue as coach, his contract has expired,” the federation’s president Rodolfo Villalobos told a press conference. Costa Rica went out of the competition in the group stage 5

July 6, 2018 12:00 AM Pak Navy to acquire four Turkish ships

ISLAMABAD: The Pakistan Navy has signed a contract for acquisition of 4x MILGEM Class Ships with M/s ASFAT AS, Turkey, which is a military factory and shipyard company under the Ministry of National Defence, Turkey, here at the Ministry of Defence Production on Thursday. The contract also includes complete transfer of technology and the transfer of intellectual 1

July 5, 2018 6:02 PM Pak Navy signs contract for acquisition of 4 warships from Turkey

ISLAMABAD: Pakistan Navy has signed a contract for acquisition of four MILGEM Class Ships with M/s ASFAT A.S, Turkey which is a Military Factory and Shipyard Company under the Ministry of National Defence, Turkey. The agreement was signed at Ministry of Defence Production (MoDP), in Islamabad. The contract also includes complete transfer of technology' 10

July 5, 2018 1:32 PM Indian envoy hopes bilateral ties will improve after elections in Pakistan

India's High Commissioner Ajay Bisaria, while addressing a seminar in Islamabad, hoped that the relations between India and Pakistan will improve after the 2018 general elections. "We hope that Pak-India relations will improve following the general elections in Pakistan," Bisaria said, adding that the two countries started facing strained relations since

July 5, 2018 12:00 AM Saudi plans first change in Asia crude oil price formula

SINGAPORE: Saudi Aramco plans to change the formula used to price its long-term crude oil sales to Asia starting from October, marking the first change in benchmarks for its official selling prices (OSP) since the mid-1980s, multiple trade sources said on Wednesday. The new formula will be based on the average monthly prices of Oman crude futures traded 1