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December 16, 2017 12:00 AM Adobe profit beats estimates

NEW YORK: Photoshop maker Adobe Systems Inc on Thursday reported a better-than-expected quarterly revenue and profit, driven by strength in its digital media business, which houses its flagship product Creative Cloud. Shares of the company, which also forecast first-quarter profit above estimates, were up 1.7 percent at $178 in extended trading. The shift

December 15, 2017 12:00 AM Rakuten plots to become Japan’s No. 4 wireless carrier

TOKYO: Japanese e-commerce firm Rakuten Inc said it would apply for a 4G mobile licence, aiming to become the country's fourth major wireless carrier in a strategic shift that had analysts warning of an uphill battle to gain customers. Rakuten, which operates one of Japan's most popular shopping websites, said it hoped to gain a new engine of growth

December 15, 2017 12:00 AM Forex reserves fall to $20.686bln

KARACHI: Foreign exchange reserves dropped 1.42 percent to $20.686 billion as on December 8 due to external debt payments, the central bank said on Thursday. Foreign currency reserves held by the State Bank of Pakistan (SBP) fell to $14.666 billion from $14.883 billion. Reserves of commercial banks fell to $6.020 billion from $6.084 billion a week ago. The SBP’s

December 14, 2017 12:00 AM Afghan women officers train at Indian military academy

NEW DELHI: From shooting an AK-47 to dealing with computer-simulated sieges, 20 Afghan women officers are being put through their paces at a military training academy in India. They are the first Afghan women to attend the academy in the south Indian city of Chennai, which has been training men from the country’s military for several years. The women 1

December 13, 2017 12:00 AM KMC sports complex projects to be completed in Feb

KARACHI: Around 95 percent of the work on projects at KMC sports complex has been done but completion has been delayed because of the death of its contractor, sources told ‘The News’. He died about a year and a half ago, but KMC authorities have failed to get the work resumed so far. A high official of KMC told ‘The News’ that they were striving to complete 2

December 13, 2017 12:00 AM US Fed to open policy meeting

Washington: The US central bank is set to open its final two-day policy meeting of the year on Tuesday, and is likely to raise the benchmark interest rate despite the absence of inflation. It would be the third rate hike this year, and possibly the final time Federal Reserve Chair Janet Yellen presides over a policy move since President Donald Trump 1

December 12, 2017 12:00 AM Aptma berates suspension of gas supply to industry

ISLAMABAD: The All Pakistan Textile Mills Association (Aptma) Punjab Chairman Ali Pervaiz has expressed serious concern over suspension of the supply of system gas quota of 2-days per week to Punjab industries from 7th of December 2017. He added the government had extended this quota last year in order to reduce the cost of doing business and it somewhat

December 12, 2017 12:00 AM Goal of expanding tax base remains elusive

ISLAMABAD: As Federal Board of Revenue (FBR) makes concerted efforts to increase the number of tax filers by repeatedly extending the deadline but it has emerged that the goal of expanding the tax base and finding new taxpayers will remain elusive. The documents available with The News show that FBR increased the number of taxpayers to an impressive

December 12, 2017 12:00 AM Dubai foresees $15.5bln expenditures

Dubai: Dubai on Sunday adopted its 2018 budget foreseing expenditure of 56.6 million dirhams (around $15.5 billion), a 19.5 percent increase over last year, as it prepares to host Expo 2020. But the 2018 budget of Dubai, one of seven emirates in the United Arab Emirates, also forecasts a deficit of $1.7 billion -- the highest since the 2009 financial 2

December 12, 2017 12:00 AM ECO urges members to boost regional trade volume, connectivity

ISLAMABAD: Economic Coordination Organisation (ECO) Secretary General Halil Ibrahim Akca on Monday called upon the ECO member states to increase their joint efforts for increasing the intra-regional trade by twofold. “ECO Vision 2025 has stipulated to double the intra-regional trade for which we need to at least re-double the efforts,” he said, while 3