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Pakistan and China extend currency swap agreement

Pakistan and China extend currency swap agreement

Pakistan and China have agreed to extend the currency swap agreement and double its size as both countries look to deepen trade and investment ties, while reducing reliance on the US dollar.
5/26/2018 1:52:55 AM
IMF holds talks with Pakistan on economic issues

IMF holds talks with Pakistan on economic issues

The International Monetary Fund (IMF) has invited a number of renowned economists, academicians and former senior government officials to Washington for consultations on a future roadmap on economic challenges of Pakistan and possibility for extending another bailout package in case Islamabad made a
5/26/2018 1:49:34 AM
Oil prices sink below $70 as Saudi signals increase in supply

Oil prices sink below $70 as Saudi signals increase in supply

Oil prices fell below $70 a barrel in New York for the first time in more than two weeks as Saudi Arabia said it expects Opec and its partners to boost supplies later this year, easing restraints intact since early 2017.
5/26/2018 1:43:12 AM
Oil prices drop as Saudi signals likely supply boost

Oil prices drop as Saudi signals likely supply boost

Global oil prices fell yesterday after top producer Saudi Arabia signalled a likely boost in supply as soon as the third quarter, and world stock markets were mixed over the sudden US move to cancel the summit with North Korea.
5/26/2018 1:40:15 AM
Foreign banks are flexing muscles in Australia again

Foreign banks are flexing muscles in Australia again

Foreign banks are circling Australia once more as they bet on resources and infrastructure investment gathering pace at a time when local banks are distracted by a government inquiry following a string of scandals.
5/26/2018 1:37:18 AM
‘Japan factory output seen rising in April’

‘Japan factory output seen rising in April’

Japan’s industrial production was expected to rise for a third straight month in April thanks to brisk export demand, a Reuters poll found yesterday, a positive sign after the economy contracted in the first quarter.
5/26/2018 1:26:48 AM
China to use cornerstones to help Alibaba, Xiaomi list in mainland

China to use cornerstones to help Alibaba, Xiaomi list in mainland

China plans to use cornerstone investors to help its overseas-listed tech giants such as Alibaba and Xiaomi to sell shares at home, on worries the size of the deals could overwhelm mainland markets, three sources said.
5/26/2018 1:22:51 AM
Dozens of Palestinians injured by Israeli gunfire

Dozens of Palestinians injured by Israeli gunfire

Dozens of Palestinians demonstrating at the Gaza border were injured by Israeli gunfire and tear gas yesterday, as the latest round of protests drew several thousand participants to the frontier.
5/26/2018 1:03:32 AM
Iran expects measures to save N-deal by May-end

Iran expects measures to save N-deal by May-end

European countries have until the end of May to propose ways to mitigate the effects of the US withdrawal from a landmark nuclear deal between world powers and Tehran, a senior Iranian official said yesterday.
5/26/2018 1:01:55 AM
Russia ‘responsible’ for downing of flight MH17

Russia ‘responsible’ for downing of flight MH17

The Netherlands and Australia took the first step yesterday towards dragging Russia to court over the shooting down of flight MH17, accusing Moscow of being responsible for the disaster over war-torn eastern Ukraine in 2014.
5/26/2018 12:51:42 AM
Silicon Valley wants to tax big tech just like Seattle did

Silicon Valley wants to tax big tech just like Seattle did

Seattle levied an annual tax of about $50mn on big companies last week to help solve the city’s homeless problem. The tax was watered down from the original proposal but it was controversial and pitted the city against its most powerful corporate resident, Amazon.com Inc.
5/26/2018 12:50:33 AM
Tax rate for ‘no permanent place’ firm

Tax rate for ‘no permanent place’ firm

Question: What’s the tax rate in Qatar and what tax adjustments are to be made with regard to establishments that have no permanent place of business or no tax card in Qatar? TR, Doha
5/26/2018 12:48:53 AM
German business morale steadies despite spectre of global trade war

German business morale steadies despite spectre of global trade war

Ifo: Downward trend stopped, economy holding ground; economist: German growth story on its last leg; US tariffs, US exit from Iran deal are risks; other recent data shows economic growth slowing
5/26/2018 12:46:18 AM
What sank the Kim-Trump summit?

What sank the Kim-Trump summit?

When US President Donald Trump abruptly cancelled his summit with North Korea’s leader Kim Jong-un, he blamed “tremendous anger and open hostility” from the North. In fact, the summit, scheduled for June 12 in Singapore, was doomed for three reasons.
5/26/2018 12:45:17 AM
How BoJ crushed trading in Japan’s $10tn bond market

How BoJ crushed trading in Japan’s $10tn bond market

When Tadashi Kikugawa arrived on the Japanese bond desk at Fuji Bank in 1988 after finishing a college degree in physics, he had to get to grips with a market with “huge” fluctuations. Trades worth $1bn in one shot weren’t unusual, he says, and they would often send yields seesawing.
5/26/2018 12:38:10 AM
One dead as Cyclone Mekunu hits south Oman

One dead as Cyclone Mekunu hits south Oman

Cyclone Mekunu gathered strength yesterday as it lashed southern Oman with high winds and rain, killing at least one person a day after wreaking havoc on the Yemeni island of Socotra.
5/26/2018 12:36:43 AM
Toshiba has more work to do to regain access to bonds

Toshiba has more work to do to regain access to bonds

Toshiba Corp may need to do more to regain investors’ confidence if it wants to reestablish itself as a regular issuer in Japan’s bond market.
5/26/2018 12:33:39 AM
Qatar condemns blast in Libya’s Benghazi

Qatar condemns blast in Libya’s Benghazi

Qatar expressed yesterday its strong condemnation of a car bomb explosion in a busy street in the centre of Benghazi in eastern Libya, resulting in many deaths and injuries.
5/26/2018 12:30:57 AM
Investors in dark as NSE, SGX fight over futures

Investors in dark as NSE, SGX fight over futures

What started as a business disagreement between two Asian exchanges has become a source of growing concern for international investors.
5/26/2018 12:30:04 AM
Amir congratulates King of Jordan

Amir congratulates King of Jordan

His Highness the Amir Sheikh Tamim bin Hamad al-Thani and His Highness the Deputy Amir Sheikh Abdullah bin Hamad al-Thani yesterday sent cables of congratulations to King Abdullah of Jordan on his country’s Independence Day.
5/26/2018 12:30:02 AM
Biopharma deploying Trump windfall to buy back billions in stock

Biopharma deploying Trump windfall to buy back billions in stock

Drugmakers, whose industry pricing faced renewed scorn this month from President Donald Trump, have been taking advantage of the US tax overhaul he signed last year to buy back shares of their own underperforming stocks.
5/26/2018 12:24:34 AM
A bilateral foil for US multilateral dilemma

A bilateral foil for US multilateral dilemma

The good news is that the United States and China appear to have backed away from the precipice of a trade war. While vague in detail, a May 19 agreement defuses tension and commits to further negotiation.
5/26/2018 12:24:32 AM
New Italian govt has little chance of staying the course

New Italian govt has little chance of staying the course

A new government is expected to take office in Italy next week after one of the longest periods of post-election flux in its history, but the fraught gestation might prove child’s play by comparison with what comes next.
5/26/2018 12:23:11 AM
Manhunt in Canada over eatery bombing

Manhunt in Canada over eatery bombing

Canadian police were hunting two men yesterday after a blast at an Indian restaurant near Toronto injured 15 people, including three dual Indian-Canadian nationals, but police said there were no initial signs of terrorism.
5/26/2018 12:21:32 AM
Protectionism risks economic crisis: Putin

Protectionism risks economic crisis: Putin

Russian President Vladimir Putin warned yesterday that the world could be heading for an unprecedented economic crisis due to the confrontational trade policy and protectionism being pursued by the United States.
5/26/2018 12:21:07 AM
Weinstein charged with rape

Weinstein charged with rape

Former Hollywood producer Harvey Weinstein was led away in handcuffs yesterday after being arrested and charged in New York City with rape and other sexual assault crimes, accusations his lawyer said he will vigorously fight in court.
5/26/2018 12:19:48 AM
Cheap rides at risk in drive to clean up streets

Cheap rides at risk in drive to clean up streets

From Manila’s iconic jeepneys to Kuala Lumpur’s motorbike taxis, Southeast Asian capitals are on a drive to clean their streets of vehicles that cause pollution and traffic jams, while experts defend the vital role they play in cities without adequate public transit.
5/26/2018 12:19:25 AM
Australian nun in last-minute  appeal against deportation

Australian nun in last-minute appeal against deportation

An elderly Australian nun facing deportation after angering Philippine President Rodrigo Duterte launched a last-minute appeal against the order yesterday, the deadline for her to leave the country.
5/26/2018 12:16:24 AM
Fiat Chrysler recalls 4.8mn US vehicles for cruise control defect

Fiat Chrysler recalls 4.8mn US vehicles for cruise control defect

Fiat Chrysler Automobiles NV said yesterday it is recalling 4.8mn US vehicles over a defect that could prevent drivers from deactivating cruise control and warned owners not to use the function until they get software upgrades.
5/26/2018 12:15:21 AM
US business spending on equipment improving

US business spending on equipment improving

New orders for key US-made capital goods increased more than expected in April and shipments rebounded, pointing to a moderate pickup in business spending on equipment after slowing down at the end of the first quarter.
5/26/2018 12:11:51 AM
Temer orders army to clear truckers’ blockades

Temer orders army to clear truckers’ blockades

Brazilian President Michel Temer yesterday ordered security forces to clear road blockades set up by truckers who pressed on with a strike that has left the vast country virtually paralysed.
5/26/2018 12:11:10 AM
Qatar calls for protecting civilians in armed conflicts

Qatar calls for protecting civilians in armed conflicts

This came on Friday in the statement delivered by HE Permanent Representative of Qatar to the United Nations Ambassador Sheikha Alya Ahmed bin Saif al-Thani at the official meeting of the UN Security Council.
5/26/2018 12:03:17 AM