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January 20, 2018 12:00 AM Stocks rise over one percent on foreign buying; auto leads

Stocks gained 1.3 percent on Friday, buoyed by auto and financial shares while offshore investors continued to be net buyers and added fuel to a rally that started towards the start of the week, dealers said. Analyst Ahsan Mehanti at Arif Habib Corp said bullish activity was witnessed in scrips across the board. “(Prime Minister) PM’s approval for amnesty

January 19, 2018 12:00 AM Toshiba reaches deal to help resolve Westinghouse bankruptcy

NEW YORK: Toshiba Corp said on Thursday it had clinched an agreement to sell its claims in bankrupt U.S. nuclear plant maker Westinghouse Electric Co LLC in a deal that would add $3.7 billion to the Japanese owner´s depleted capital base. The Japanese conglomerate has also agreed to transfer its Westinghouse-related shares to Canada´s Brookfield Business

January 19, 2018 12:00 AM Garcia shares lead after disrupted first day

SINGAPORE: Masters champion Sergio Garcia and American Kurt Kitayama both carded five-under-par 66 to share the lead after the first round of the Singapore Open on Thursday. The duo were joined by South African Louis Oosthuizen and Thailand’s Tirawat Kaewsiribandit at the top of the leaderboard at five-under after 16 holes before play was stopped because

January 15, 2018 2:13 AM Lahore stands to gain five more provincial assembly seats

ISLAMABAD: Lahore, the capital of the largest province in the country, will get five more provincial assembly seats after the fresh demarcation of constituencies, raising its rally from 20 to 25, an analysis of census data reveals. This is in addition to an extra National Assembly seat, which the provincial metropolis has earned by virtue of its 11.1-strong 2

January 14, 2018 12:00 AM Money-laundering probe opens into AC Milan sale

ROME: Italian prosecutors have opened an investigation into whether the deal to sell AC Milan to Chinese investors last year was inflated for money-laundering purposes, La Stampa reported on Saturday. Milan prosecutors want to know if the 740 million euros ($786 million) paid to Silvio Berlusconi to buy out the seven-time European champions was overvalued 2

January 14, 2018 12:00 AM MoneyGram partners with Ripple

NEW YORK: Shares of MoneyGram International Inc jumped 10.5 percent on Thursday, after the money-transfer company said it partnered with blockchain firm and bitcoin-rival Ripple. As part of the arrangement, MoneyGram will test the use of Ripple´s cryptocurrency, XRP, to move funds in a faster and cheaper way. Ripple, created by the founder of bitcoin 5

January 10, 2018 1:38 PM Bulls dominate PSX as benchmark index gains 816 points

Pakistan Stock Exchange (PSX) experienced a bullish session on Wednesday, with the benchmark KSE-100 Index gaining 816 points to close at 43,631 points. The index opened higher and continued on an upward streak, hitting the day's high of 43,660 points before the session's close. Volumes remained on the higher side, with 327.8 million shares worth Rs15.6 billion 1

January 9, 2018 12:00 AM Apple should address phone addiction!

NEW YORK: Apple Inc shareholders Jana Partners and the California State Teachers’ Retirement System are urging the smartphone maker to take steps to address what they say is a growing problem of young people getting addicted to Apple’s iPhones, Jana partner Charles Penner said. Jana, a leading activist shareholder, and CalSTRS, one of the nation’s largest 1

January 8, 2018 1:41 AM Islamabad, four provincial capitals to get more NA seats

ISLAMABAD: In what would reflect the growing trend of rural population’s migration to urban areas, particularly to big cities, the federal and all the four provincial capitals are set to have an increased share of National Assembly seats following the delimitation exercise in accordance with the provisional census results. Though Punjab’s share is to go down from 148 to 141 out of the total 9

December 30, 2017 12:00 AM Stocks end year with gains; cement, steel surge

Stocks edged higher on Friday, shrugging off weaknesses in economy, as rally in cement and steel buoyed expectations for a better year for the growth in 2018, dealer said. Maaz Mulla at JS Global Capital said the market maintained its upward trend as flows in cement, steel, and oil kept investor's sentiment intact. “On the news front, State Bank of Pakistan 8