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Karachi ports handle 243762 tons of cargo
The Karachi Port and Port Qasim handled a cargo volume of 243,762 tons in the last 24 hours that included 179,473 tons of imports and 64,289 tons of exports, the two ports reported on Thursday. The Karachi Port handled imports, i.e. containerised cargo (41,944 tons), bulk cargo (604 tons) and oil/liquid cargo (51,420 tons). It handled exports, i.e. containerised cargo (22,007 tons), bulk cargo ...
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Air New Zealand forced to dump sharks fin cargo
The anti-shark's fin campaign is crusading on in Asia Pacific. Air New Zealand has become the latest airline to stop flying shipments of shark's fin to Hong Kong, the shark's fin capital of the world. The decision came about after the New Zealand Shark Alliance revealed the airline's shipments in local media. "Air New Zealand has taken the decision to suspend the ...
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UPDATE 1-U.S. audit regulator reaches deal with China on document access
Fri May 24, 2013 4:14pm EDT * U.S.-China deal reached after years of negotiations * Deal will pave way for auditor enforcement actions * U.S. had been blocked from probing Chinese audit failures By Dena Aubin and Sarah N. Lynch NEW YORK, May 24 (Reuters) - U.S. regulators will get access to Chinese companies' audit documents under a deal announced on Friday, opening the way to probes of ...
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Second round of IPO checks on the way
China's securities regulator said Friday that it would start accounting checks in June for the second batch of 10 companies which have filed for initial public offering (IPOs), a move that will would deepen the IPO reform. Checks on the first batch of 30 firms - randomly picked out from hundreds of IPO applicants in early April - is about to finish. Results showed that some brokerages lack ...
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State Council issues economic reform guidelines
The State Council released a policy document Friday to guide reforms of the economic system in 2013, vowing to formulate a development plan on urbanization and expand property tax pilot programs this year.Meanwhile, the National Development and Reform Commission (NDRC), China's top economic planner and the drafter of the policy document, denied a Reuters report that Premier Li Keqiang had ...
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Extending a hand to Switzerland
Chinese Premier Li Keqiang gives a speech at a luncheon with business and financial leaders in Zurich, Switzerland on Friday. In the speech, Li criticized the European Union's trade measures against China-made mobile telecommunications equipment and solar panels, saying they "harm others without benefiting oneself." The premier also said China and Switzerland will announce the ...
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Stimulus issue not to impact capital flows Montek
Montek Singh Ahluwalia said here on Friday. "I think if they (US) do that I don't think that the expected changes in quantitative easing (QE) will make a difference to the kind of inflows that we are talking about", he said, when asked about his comments on the recent statement ...
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Video Market View Is the Bank of Japans message to the markets getting lost
The Globe and Mail's Jacqueline Nelson takes a closer look at recent volatility in Asia and the Bank of Japan's efforts to assure investors over rising bond ...
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Asian Stocks End Mixed Nikkei Rises After Turbulent Trading
Asian stocks traded mixed on Friday, with extreme volatility in Japanese shares keeping investors nervous. Japan's Nikkei index swung over 1,000 points for a second day in a row before ending notably higher on optimism over earnings growth and ...
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List Toyota tops BMW as worlds top auto brand
Toyota has passed BMW in a ranking of the world's most valuable brands. The list was put together by a keeper of such scores called Brandz. But it's no time for celebration if you're in the auto industry. ...
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UPDATE 1-Turkey bans alcohol advertising and curbs sales
Fri May 24, 2013 9:45am EDT * PM says ban is to protect youth from bad habits * Critics say ban is sign of creeping Islamic influence * Turkish brewers see shares fall * Diageo "very saddened" by new legislation By Ozge Ozbilgin ANKARA, May 24 (Reuters) - Turkey banned alcohol advertising and tightened restrictions on its sale on Friday, drawing criticism from secular Turks as well as ...
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UPDATE 1-HSBC Chairman urges acceleration of bank reform
Fri May 24, 2013 9:04am EDT * Chairman says investor confidence could be undermined * Bank criticised for anti-money laundering failings * Bank also slammed for aiding tax avoidance * 89 percent of shareholders back 2012 pay plan By Steve Slater and Matt Scuffham LONDON, May 24 (Reuters) - HSBC's Chairman Douglas Flint called for an acceleration in the speed of reform within the industry ...
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Protect small investors Chidambaram tells Sebi
Sebi to regulate the market fearlessly to protect their interests, and not to "bow" or "bend" before anyone. "Win confidence of small investors. Its when a small investor says my money is safe in the financial market because I have Sebi watching over my money, that is the day when Sebi would have achieved its objective," he said. In his message to Securities and ...
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Sensex up 30 points as Tata Steel surges 5
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China to issue 26b yuan in two-year T-bonds
The Ministry of Finance (MOF) said Friday that it will sell 26 billion yuan (4.2 billion US dollars) in two-year book-entry treasury bonds. The issuance marks the ministry's 12th issuance of book-entry treasury bonds this year, the ministry said in a statement on its website. ( The bonds carry a fixed annual interest rate of 2.98 percent. The interest will be paid every year on May 27, ...
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Sensex ends four-day losing streak
Tata Steel surged after its March-quarter operating profit beat analyst estimates and as recently beaten-down blue chips such as Larsen & Toubro recovered. Tata Steel Ltd rose 4.49 percent, while Larsen & Toubro Ltd ended 2.72 percent higher as a sell-off in the previous two sessions on earnings disappointment was seen as overdone. The BSE Sensex gained 0.15 percent, while the ...
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Mitsubishi Motors manoeuvres to end 15-year dividend drought
By Yoko Kubota TOKYO (Reuters) - Mitsubishi Motors Corp (7211.T), the Japanese maker of Triton pickups, the Outlander Sport SUV and i-MiEV electric car, wants shareholders to approve a capital reorganisation to clear more than $9 billion (5.9 ...
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China vows to liberalise interest rates
yuan currency more responsive to market forces and more convertible this year, the government said on Friday. China will draft plans on a deposit insurance system and quicken the development of private financial institutions, according to guidelines on reforms for 2013 drafted by the National and Development and Reform Commission ...
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European shares edge lower led by banks autos
LONDON | Fri May 24, 2013 5:44am EDT LONDON May 24 (Reuters) - European shares edged lower on Friday, led by auto and banking shares as investor sentiment remained shaky on concerns about a possible rolling back of U.S. monetary stimulus. The pan-European FTSEurofirst 300 index was down 0.4 percent at 1,225.26 points at 0941 GMT, with selling momentum accelerating as the index ...
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Global stock markets fall after 7 percent collapse in Japan’s Nikkei index
Stock markets posted significant losses worldwide, led by a one-day 7.3 percent drop in Japan's Nikkei stock index, amid signs of a growing global slump and demands for increasing attacks on the working class in Japan.The Nikkei fell 1,143 points to 14,483.98, after which major indices across Europe and Asia all fell two percent or more. The Sydney stock market fell two percent to 5062, and ...
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My Car One UAE Toyota Land Cruiser thats able to turn heads
Growing up in Yemen and spending most of his childhood seeing the 1979 Toyota Land Cruiser FJ40, Max Stanton admits he always wanted one. "The first time I ever went into one of these cars, I went to an island called Socotra, in Yemen. I must have been about 10 at the time. We flew there and there was no proper airplane. We were there for the first time ever and we needed a car to drive us ...
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Holden and Toyota dismiss speculation that they will exit Australia
Holden and Toyota have recommitted to manufacturing cars in Australia, with Holden suggesting that more government support could be necessary. Holden ...
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This Could Devastate India’s Prized IT Sector
India's prized $108 billion information technology (IT) services sector is on a "knife edge" in the face of a looming vote on the U.S. immigration reform bill, which threatens the very business model the industry thrives on, says Nomura. "We believe the U.S. immigration bill, if passed, would disrupt the current Indian IT business model, place it at a competitive disadvantage ...
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NIITs Q4 net profit falls 91 to Rs 3.83 crore
NIIT Ltd on Thursday reported a steep 91 per cent decline in standalone net profit to Rs 3.83 crore for the quarter ended March 31, 2013, hit by drop in enrolments due to a weak market sentiment. The Gurgaon-headquartered firm had posted a profit of Rs 43.27 crore in the year-ago period, it said in ...
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Etihad deal to improve profits Naresh Goyal
Naresh Goyal on Friday said this strategic alliance would improve the Indian carrier's profitability and lower the costs. "Etihad investment will help us to deleverage and grow in a sustainable manner," Goyal said here while addressing Jet Airway's shareholders at an Extra Ordinary General Meeting (EGM) convened to seek their approval for ...
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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