Latest Asia Business News
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German envoy urged to increase investment
KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Haroon Agar has urged Pakistan's Ambassador to Germany Abdul Basit to facilitate German investment in Pakistan. Agar told Ambassador Abdul Basit during his visit to KCCI on Wednesday that within the EU, Germany has become Pakistan's largest trading partner. "There are many opportunities in the economic field and ...
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Standard Chartered Saadiq bags award
KARACHI: Standard Chartered Saadiq won the "Islamic Bank of the Year in Pakistan" award by The Banker, an affiliate of Financial Times. The award is in recognition of its structuring and distribution capabilities, and reinforces its leadership position in Islamic Banking. Some of the largest local players in the banking industry were also in the running for the award. The Islamic bank ...
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Moot on power sector reforms begins
KARACHI: The National Conference on Power Sector Reforms hosted by the Islamabad Electric Supply Company (IESCO) opens today at the Marriott Islamabad. National and international professionals from the power sector, policy makers, senior government officials, corporate governance experts, regulators, donor and multi-lateral stakeholders and others are attending the day-long moot to identify ...
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Health insurance plan launched
KARACHI: Bank Alfalah has announced the launch of Alfalah Care - Health Insurance Plan for Senior Citizens as the latest element of its Care account offering. Bank Alfalah's Care account was launched last year, with attractive rates of return especially customised for senior citizens. It aims to provide quality health care to individuals within the age bracket of 55 years to 75 years, in ...
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Gems jewellery exports touch $1.2bn
KARACHI: Pakistan's export of gems and jewellery has increased from approximately $47 million to $1.2 billion since inception of Pakistan Gems and Jewellery Development Company (PGJDC) and Pakistan International Gems and Jewellery Exhibition (PIGJE) - 2013 will help enhance exports and capture new markets, Bakhtiar Khan, chief executive officer of PGJDC, said. Khan said that the event will ...
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Australia-Pakistan trade body meets
ISLAMABAD: Senior trade officials from Australia and Pakistan met in Islamabad on Wednesday for the fourth joint trade committee trade talks. The Australian delegation, led by the Deputy Secretary of the Australian Department of Foreign Affairs and Trade Paul Grigson held substantive talks with officials led by Secretary of Pakistan's Ministry of Commerce Munir Qureshi. Grigson announced ...
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TVET sector in KP and Fata discussed
LAHORE: The Technology Upgradation and Skill Development Company (TUSDEC) has organised a stakeholders' meeting to discuss and nail down the findings of a baseline study reflecting the rundown of technical and vocational education in various districts of KP and Fata. According to a TUSDEC spokesperson, the baseline study was conducted to effectuate the four-year programme, sponsored by the ...
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Spanish recession may end soon
MADRID: Spain's biting recession may end soon but the outlook is tough and Madrid must do more to battle the country's unacceptably high unemployment rate, the IMF warned Wednesday. Spain's economy, still reeling from a 2008 property market crash, fell into a double-dip recession in 2011 and the unemployment rate has since soared to more than 27 percent. Prime Minister Mariano ...
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The case against telecommuting
LOS ANGELES: Some companies are monitoring employees' every keystroke no matter where they are working. That not only helps reveal who is stealing company secrets, it's also giving some employers a good idea of how their remote workers are performing. In some cases, companies are finding that remote workers can be just as productive, if not more so - especially once they find out that ...
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JS Bank goes Solar
Karachi: After saving your money for years, JS Bank is now saving energy for you. JS Bank has been at the forefront of innovative solutions that provide unparalleled convenience. Continuing in this pioneering spirit, JS Bank has initiated a Go Green drive converting the Dhoraji branch in Karachi to solar power. That means all computers, servers; ATM and teller stations are now powered by solar ...
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Karachi ports handle 242357 tons of cargo
The Karachi Port and Port Qasim handled a cargo volume of 242,357 tons during the last 24 hours that included 164,668 tons of imports and 77,689 tons of exports, the two ports reported on Wednesday. Accordingly, the Karachi Port handled imports, including containerised cargo (31,906 tons), bulk cargo (9,979 tons), DAP (5,750 tons) and oil / liquid cargo (1,000 tons). It handled exports, ...
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Two mills buy cotton
Karachi Trade turnover of cotton increased to 10,770 bales (155 kilograms each) as two leading spinning mills of Punjab acquired significant number of bales to maintain inventories, a dealer said on Wednesday. Khanpur witnessed the highest trade of 4,700 bales at Rs6,700 per maund. The same station traded another 4,100 bales at Rs6,950 per maund on credit. Other markets traded the minimum of 100 ...
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IMF talks help 100-index recover 216 points
The Karachi bourse recovered from its slump in previous sessions on Wednesday to cross the 22,000 barrier once again on hopes that week-long discussions with the IMF for a possible $5 billion bailout package would be successful, dealers said. The marked gained 216.09 points on institutional buying on Wednesday. Furqan Punjani, deputy head of research BMA Capital, said local institutions and ...
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Gold slips for third day
Gold fell for a third straight session on Wednesday, hovering near the lowest level in four weeks, as a rally in stocks and investor caution over the Federal Reserve curbing its stimulus programme sapped support for bullion. Fed Chairman Ben Bernanke said last month the bank could scale back its $85 billion monthly bond purchases if the US economy strengthens, but a lack of clarity on the timing ...
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Brent holds above $106
Brent crude futures edged up to hold above $106 a barrel on Wednesday as investors looked to a meeting of the US Federal Reserve for clues on the outlook for its stimulus programme that has underpinned commodity prices. Global investors have been on edge since Fed Chairman Ben Bernanke suggested the central bank could be looking to roll back monetary stimulus, and a statement at the end of the ...
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Hang Seng slumps 1.5pc
(34 mins ago) Stocks in Hong Kong tumbled 1.52 percent at the open after the US Federal Reserve signalled it would likely begin curbing its huge bond-buying programme later this year. The benchmark Hang Seng Index fell 318.09 points to 20,668.80 in the first few minutes of ...
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Nikkei falls on U.S. stimulus withdrawal fears GS Yuasa soars
* Nikkei down 0.7 pct, Topix off 0.6 pct * Real estate shares down * GS Yuasa soars on battery JV with Bosch By Ayai Tomisawa TOKYO, June 20 (Reuters) - Japan's Nikkei share average fell on Thursday after Federal Reserve Chairman Ben Bernanke confirmed market fears that the U.S. central bank could trim its bond buying programme later this year, but a weakening yen lifted some exporters and ...
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Claims union boss blocked Toyota wage productivity talk
There are claims that a union official taking part in a recent emergency car industry summit dismissed Toyota Australia’s attempt to discuss labour costs and weak ...
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Emirates Qantas named top world airlines
While Emirates was honoured as the world’s best airline, new alliance partner Qantas has made a return to the top ten in the annual World Airline Awards 2013. Qantas jumped five spots from ...
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Garuda Indonesia Named The Worlds Best Economy Class By SkyTrax At Paris Airshow
Garuda Indonesia, the airline of Indonesia, was named "The World’s Best Economy Class" at the SkyTrax 2013 World Airline Awards at the Paris Air show yesterday. In addition to being voted "The World's Best Economy Class", Garuda was also named "The World’s Best Economy Class Seats" by SkyTrax – a result of Garuda Indonesia’s ...
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Qantas crew sue Rolls Royce over trauma
engine explosion mid-flight in 2010 , are suing the aircraft’s engine markers over trauma suffered during the incident. In November 2010, the A380 was flying from Singapore to Sydney when its Rolls Royce engine malfunctioned as it flew over Batam Island, Indonesia, News.com.au reported. Now, 17 crew members from NSW on board flight QF32 have lodged a class action against engine ...
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Nikkei falls as Fed signals possible roll back of stimulus
Reset TOKYO (June 20): Japan's Nikkei share average fell on Thursday after Federal Reserve Chairman Ben Bernanke confirmed market fears that the U.S. central bank could trim its bond buying programme later this year. The Nikkei dropped 1.1 percent at 13,100.86, while the broader Topix shed 0.8 percent to 1,097.75. - ...
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Nikkei expected to edge down on Feds stimulus signals
TOKYO, June 20 (Reuters) - Japan's Nikkei share average is expected to lose ground on Thursday after U.S. Federal Reserve Chairman Ben Bernanke said the central bank could trim its bond buying programme later this year, but losses may be contained by a weakening yen. Market players said the Nikkei was likely to trade between 13,000 to 13,300 on Thursday after rising 1.8 percent at 13,245 in ...
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Diving Rupee—Heres How Bad It Can Get for India
, which is hovering near lifetime lows, poses a threat to the recovery in Asia's third largest economy that is already on fragile footing, economists say. "I think rupee weakness is going to be a big issue - given how central the rupee is in determining the current account deficit, inflation and macroeconomic stability," said Vishnu Varathan, market economist at Mizuho Corporate ...
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Nirma founder sells land to JP Iscon for Rs 500 crore
Karsanbhai Patel has sold his 68,000 sq yard plot, called Nirma Farm, near Science City to a city-based developer, JP Iscon, for Rs 500 crore. The deal size makes it one of the biggest ones in recent times in Ahmedabad. The deal is said to have been sealed at Rs 75,000 per square ...
Hong Kong Feature
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Electoral reform hot topic for Hong Kong
Hong Kong is going through more growing pains, perhaps even the most uncomfortable since the city was handed back to Beijing by Britain. Pro-democracy advocates want to be able to vote for the entire legislative council, a direct challenge to Beijing.
Hong Kong was handed back to China in 1997. At that time, Beijing made an agreement with Britain that under a law called the Basic Law, all the civil liberties which were existent in Hong Kong at the time of the hand over would remain in place for at least 50 years, by which time it is envisioned, by the pro-democracy camp at any rate, that the Special Administrative Region will be fully democratic at any rate. Read more
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