Economy

Asian markets closed for holiday

HONG KONG: Financial markets in China, Hong Kong, South Korea, the Philippines, Malaysia, Thailand, Taiwan and Singapore are closed on Wednesday for public holidays. (AFP) ...

First Australian banknote set to fetch $3.6mn

SYDNEY: Australia's first banknote, printed 100 years ago and found in a letter in England in 1999, has gone on sale for Aus$3.5 million (US$3.6 million), auctioneers said Wednesday. The 10 shilling note, with the serial number M000001, was issued on...

Euro mixed in Asia

TOKYO: The euro was mixed in Asian trading on Tuesday morning after the weekend formation of a coalition government in Italy ended a political stalemate which had dragged on for months. In Tokyo the single currency was slightly weaker on the dollar a...

Oil down in Asia on weak US data

SINGAPORE: Oil was down in Asia on Monday as weak economic data from the United States sparked concerns over a softer demand for crude, analysts said. New York's main contract, light sweet crude for delivery in June dropped 48 cents to $92.52 a barre...

Asian shares mixed after US growth data

HONG KONG: Asian markets were mixed on Monday while the dollar slipped after US economic growth data came in below forecast owing to deep federal spending cuts. With Tokyo and Shanghai closed and the May Day bank holiday coming up on Wednesday, tradi...

Oil prices down in Asia on profit-taking

SINGAPORE: Oil prices eased in Asia on Friday as traders cashed in recent gains following signs of strengthening US energy demand and concerns over Syria, analysts said. New York's main contract, light sweet crude for delivery in June dropped 62 cent...

Dollar slips in Asia

TOKYO: The dollar sank against the yen in Asia on Friday after the Bank of Japan held off new easing measures at its first policy meeting since this month's huge stimulus. The dollar bought 98.73 yen in afternoon trade, from 99.29 yen in New York lat...

Oil down in Asia on weak US data

Euro up against dollar

SINGAPORE: The euro rose against the dollar in Asia Monday after data showed the US economy grew at a slower rate than forecast in January-March, while eyes are on a key Federal Reserve meeting, analysts said. The euro fetched $1.3052 in mid-morning ...

Oil down in Asian trade

SINGAPORE: Oil was down in Asia on Tuesday as traders took profits from recent gains and ahead of the May Day holiday, analysts said. New York's main contract, light sweet crude for delivery in June dropped 17 cents to $94.33 a barrel and Brent North...

POL prices slashed: petrol down Rs4.72, diesel 2.53/ltr

ISLAMABAD: The government has slashed prices of petroleum products, bringing down the price of petrol by Rs4.72 per litre and diesel by Rs2.53 with effect from May 1, media reported Tuesday. The Oil and Gas Regulatory Authority (OGRA) has issued a no...

3D printing could herald new industrial revolution

GENEVA: As potentially game-changing as the steam engine or telegraph were in their day, 3D printing could herald a new industrial revolution, experts say. For the uninitiated, the prospect of printers turning out any object you want at the click of ...

UAE to Support Afghanistan Beyond 2014

United Arab Emirates has pledged long-term aid to Afghanistan after 2014, Arab officials said on Thursday. United Arab Emirates' Embassy to Afghanistan said that as part of supporting development projects in Afghanistan the country's aid will be co...

Afghanistan Jails US Government Employee

A former contractor for a recently completed U.S. Agency for International Development (USAID) project in Afghanistan has been sentenced to two-and-a-half years in prison and a $9,500 fine. Noor Anwarzai, 36, was sentenced by Afghanistan’s Special ...

Shahbaz vows to end loadshedding

LAHORE: Pakistan Muslim League-Nawaz (PML-N) leader Shahbaz Sharif has reiterated to end loadshedding after being elected to power in centre, media reported. Addressing a public rally in Warburton area of Nankana Sahib, the former chief minister said...

Pakistan stocks close higher; rupee weakens

KARACHI: Pakistani stocks closed higher on Tuesday, following better results announcements from companies and renewed buying interest in Engro Corporation stocks. The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.22 percent, or 41....

Oil up in Asia ahead of US energy report

SINGAPORE: Oil prices rose slightly in Asia Wednesday on cautious hopes of a rise in energy demand in the United States, analysts said. New York's main contract, light sweet crude for delivery in June, added 21 cents to $89.39 a barrel and Brent Nort...

Oil prices up in Asia ahead of US energy report

Yen up in Asia but traders say slide to resume

TOKYO: The dollar retreated a touch against the yen in Asian trade Tuesday, but dealers said it remained on course to break the 100-yen mark after G20 nations gave the green light to aggressive stimulus by Japan. The dollar fetched 99.23 yen in Tokyo...

Dollar slips back after approaching 100 yen mark

TOKYO: The dollar weakened against the yen in Asian trade Wednesday after moving close to the 100 yen mark in the morning, while the euro softened on the back of poor economic data. The dollar bought 99.42 yen in Tokyo morning trade from 99.48 yen in...

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