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Chinas mobile users at 1.16bn
HONG KONG: China, the world's largest mobile phone market by subscribers, posted a 0.9 percent monthly increase in the number of mobile subscribers to 1.16 billion in April, data from the country's three telecommunications operators ...
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KSE index shoots up by 277 points on foreign buying
The Karachi Stock Exchange continued the jubilation of democratic process even after one week of general elections and the benchmark 100-share index increased by 277.11 points on Monday to a new all time high of 20,814.14 points on foreign buying, dealers said. Zafar Moti, an analyst and senior member of the KSE, said the market stayed positive despite the concerns of the traders about ...
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Little sign Abe can shake up Japans inbound FDI
TOKYO: Japan risks missing, yet again, an opportunity to use foreign investment to help fuel sustained economic growth that has eluded it for the last two decades. Prime Minister Shinzo Abe pledged to make Japan "the world's easiest country for companies to do business in" as part of his economic revival plan, which so far has been largely met with approval. The stock market has ...
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Karachi ports handle 355044 tons of cargo
Karachi Port and Port Qasim handled a cargo volume of 355,044 tons during the last 24 hours that included 302,091 tons of imports and 52,953 tons of exports, the two ports reported on Monday. Accordingly, Karachi Port handled imports, including containerised cargo (89,922 tons), bulk cargo (18,594 tons), coal (26,909 tons), sulphur (1,996 tons), and oil / liquid cargo (10,630 tons). It handled ...
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Rupee stable against dollar
Karachi The rupee-dollar parity closed nearly firm on Monday due to slow trading activity at the foreign exchange market, dealers said. In the interbank market, the rupee closed at 98.43 against the dollar from the previous closing of 98.42. The local currency was being traded for 98.42 for buying and 98.44 for selling. The interbank forex market initiated the day in the range of 98.46 and 98.50 ...
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Cotton markets trade 400 bales
Karachi Cotton markets in Pakistan remained virtually closed as traders exchanged 400 bales (155 kilograms) in the country during the last 24 hours, the Karachi Cotton Exchange (KCE) reported on Monday. "The worsening electricity crisis has resulted in almost no trade in cotton," Naseem Usman, a broker at the KCE, said, adding that the week is expected to maintain dull trading. Trading ...
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Gold falls for eighth session
Gold fell for an eighth straight session on Monday to its weakest level in over a month, as fears that the US Federal Reserve may wind back its economic stimulus programme hurt the metal's appeal as a hedge against inflation. Investors have been dumping gold, which is down 20 percent so far this year, as stocks and the dollar continue to outperform. If gold closes in the red on Monday, it ...
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Negative starts for Hang Seng Shanghai
(9 mins ago) Stocks in Hong Kong opened down 0.37 percent after Wall Street closed slightly lower in cautious trade ahead of the Federal Reserve chairman's testimony to Congress on the US economic outlook. The benchmark Hang Seng Index fell 87.80 points to 23,405.23 in the first minutes of trade. Fed chairman Ben Bernanke is due to give testimony to Congress on Wednesday. In Shanghai, ...
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Nikkei slips from 5-12-year high as yen weakness put on hold
* Sony Financial falls after earnings guidance disappoints * SoftBank slips, Sprint permitted discussions with Dish By Dominic Lau TOKYO, May 21 (Reuters) - Japan's Nikkei average eased from a 5-1/2-year high on Tuesday after Wall Street gave up earlier gains to end flat and the dollar slipped against the yen on caution before U.S. Federal Reserve Chairman Ben Bernanke fronts a Congressional ...
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Virgin recruits former Flight Centre Qantas manager
Virgin Australia has appointed the Flight Centre and Qantas senior sales and general manager, Judith Crompton, to the newly created role of chief commercial officer. Announced this week, Ms Crompton will be responsible for the carrier’s alliances, network, revenue management and sales covering its domestic and international network. Virgin Australia chief executive John Borghetti ...
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Cathay Pacifics Airbus A350 to get new first business class seats
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Finance minister bats for merger of PSBs
stating that some among the 26 state-owned lenders may be better off merging. "Some banks, including among 26 public sector banks that we have, may be better off merging," Chidambaram said in his inaugural lecture on the occasion of Annual Day of Competition Commission of India. "The need for two or three world-sized banks in an economy that is poised to become one among the five ...
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Ministries at war over price formula
Oil minister Veerappa Moily has ordered the setting up of a committee headed by Kirit Parikh to examine the export parity pricing formula that is being pushed by North Block to lower the Centre's subsidy ...
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RBI links inflation bonds to WPI may look at CPI later
Although inflation-indexed bonds prove beneficial during times of high inflation, they underperform when the economy goes through a deflationary ...
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White House says Obama to meet with Chinas Xi in California June 7-8
U.S. President Barack Obama listens while meeting with Myanmar's President Thein Sein in the Oval Office at the White House in Washington May 20, ...
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Softbank planning 400 billion yen bond sale - Nikkei
Mon May 20, 2013 2:50pm EDT (Reuters) - Softbank Corp (9984.T) is seeking to raise about 400 billion yen ($3.90 billion) through a sale of retail bonds to finance its bid for No.3 U.S. mobile phone carrier Sprint Nextel Corp (S.N), the Nikkei reported. The proceeds from the offering, which is expected to be launched as early as next month, will also be used for redeeming existing bonds, the ...
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Toyota to increase lithium-ion battery production for hybrids
Toyota Motor Corp. is planning to increase production of lithium-ion batteries by six times, as the automaker prepares to eventually use them in its flagship Prius gasoline-electric hybrid cars, the Nikkei business daily reported on Sunday. Currently, most of Toyota's hybrid vehicles use nickel-metal hydride batteries but the automaker is planning to make more cars with lithium-ion ...
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After Government Raid Jittery Future for Bitcoin
bitcoin exchange, traders and other people interested in the digital currency are looking nervously at the future. Bitcoins have always operated outside of the established financial system, so does the action by ...
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Gold hits 21-month low silver weakest in over 2 yrs
While gold dropped by Rs 330 to Rs 26,370 per 10 grams, matching its price on August 10, 2011, silver prices plunged by Rs 1,530 to Rs 42,170 per kg, a level last seen on November 26, ...
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Nissan Mitsubishi kick off joint minicar production
';I was stopped by two men in a government-registered vehicle, blindfolded and dragged off the street. They took me away to a house in a place I did not know. I was forced into a room with blood all over the walls and floor, ...
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Foreign investors may buy inflation-linked bonds RBI
Although inflation-indexed bonds prove beneficial during times of high inflation, they underperform when the economy goes through a deflationary ...
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Domestic pharma market may recover
pharma retail market has shown signs of recovery with a 9.7% growth in April this year, as against 5.6% in March 2013, according to data from AIOCD ...
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Oil ministry recommends gas price hike to $6.7
ONGC and OIL as well as private firms like Reliance Industries to $6.7, less than $8-8.5 hike previously expected. In a note for the Cabinet Committee on Economic Affairs (CCEA), the ministry has proposed ...
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Sensex snaps four-day winning streak
The BSE Sensex snapped a four-day winning streak on Monday, retreating from two-and-a-half-year highs as investors booked profits on rate-sensitive stocks such as ICICI ...
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UPI Thoroughbred Racing Roundup
There will be no Triple Crown winner again this year, but Orb's defeat in the Preakness Stakes does tee up an interesting summer of racing. Meanwhile, some other potential stars, including Last Gunfighter and Fiftyshadesofhay, emerged from the weekend of racing at Pimlico. Hong Kong horses ran off with both of Singapore's International Group 1 races, Farhh provided a bright spot 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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