BAS BOHUT HO GYA

BAGHDAD: Iraq put to death 12 people convicted of terrorism hours after Prime Minister Haider al-Abadi called for speedy executions in response to the kidnapping and killing of eight members of the security forces, the government said on Friday.Late on Thursday Abadi had ordered “just retribution” through faster executions of al those on death row for terrorism convictions who had exhausted their appeals. “Based on the orders of Prime Minister Haider al-Abadi, executions were carried out on Thursday of 12 convicted terrorists who have received final verdicts,” a government spokesman said in a statement. Security forces on Wednesday found the bodies of eight men mutilated and rigged with explosives, two days after a deadline set by their Islamic State kidnappers expired. The militants had kidnapped members of Iraq’s security forces and showed six of them in a video posted online on Saturday, threatening to kill them within three days if the government did not release female Sunni prison...

Yangon: Myanmar is not doing enough to tackle human trafficking, according to a US State Department report that downgraded its ranking to the worst tier.The annual Trafficking in Persons (TIP) report said Myanmar slipped backward on its trafficked person’s index to Tier 3 for failing to protect Rohingya Muslims fleeing a military crackdown in Rakhine state. More than 700,000 Rohingyas fled to escape military retaliation following attacks by militants on police posts in August 2017. The United Nations and the United States have said the violence amounts to “ethnic cleansing”. The vast majority of the fleeing Rohingya settled in sprawling refugee camps in neighbouring Bangladesh.Many were women and children who have become prey for traffickers, the report said. The TIP report ranks 187 countries using its three-tier index. A Tier 3 ranking could lead to non-trade related sanctions. Myanmar joined China, Russia, Laos, South Sudan and North Korea in the lowest Tier 3 ranking in this year’s...

New Delhi: Hundreds of protesters rallied in central India for the third straight day on Friday over the brutal rape of an eight-year-old girl now battling for her life in hospital.Crowds holding placards and chanting “death to the rapist” called for the man arrested over the assault to be hanged in several demonstrations across the Mandsaur district of Madhya Pradesh state.The case recalls the 2012 gang-rape and murder of a student on a Delhi bus which sparked revulsion and protests across India and put the country’s abysmal record on sexual violence in the global spotlight.In the latest incident, the suspect allegedly picked up the child outside her school on Tuesday as she waited for her father, promising to take her home, police said. Instead he allegedly took her to a secluded spot, where he brutally raped her and slashed her neck, leaving her to die. She was found by locals. from The News International - World https://ift.tt/2yW182o

Madrid: Former Barcelona president Sandro Rosell will stand trial for alleged money laundering related to television rights and sponsorship of the Brazilian national football team, a court said Friday. Spain’s National Court, which deals with major corruption cases, added that Rosell’s wife, an Andorran lawyer and three other people would also stand trial. The 54-year-old is suspected of having siphoned off 15 million euros ($17.5 million) in illegal commissions from a TV rights deal for the Brazilian national team along with Ricardo Teixeira, the former head of the Brazilian Football Confederation. Rosell had previously lived and worked in Brazil, where he forged many business links. The contract was signed in 2006 to hand over the rights to 24 Brazil friendly matches to a company based in the Cayman Islands but tied to a Saudi group. Altogether, Rosell and his wife received some 15 million euros in their accounts, of which 6.6 million went to them and the rest was destined for Teixei...

SEOUL: South Korean retail giant Lotte Group kept its jailed chairman in a key affiliate post Friday despite an effort by his brother to oust him, re-igniting a bitter family feud. The company has been assailed by scandal in recent years, with the founder’s two sons engaging in a vicious and public battle for control. The younger, Shin Dong-bin, ultimately prevailed, but was jailed for two and a half years in February in connection with the corruption scandal that brought down president Park Geun-hye. His brother Shin Dong-joo reopened hostilities Friday and tried to have his sibling ousted from the board of an important Japanese affiliate, only for shareholders to stick with the incarcerated executive. In a statement, Lotte said it was “relieved” at the decision that came despite what it called the “absence” of its chairman. “We hope to promptly overcome the current difficulties,” it added. South Korean business is dominated by the chaebol, sprawling but controversial family-run empir...

ANNAPOLIS, Md.: A Maryland man was charged with multiple counts of murder on Friday, a day after police say he rampaged through a newsroom in Annapolis with a shotgun and killed five people in one of the deadliest attacks on journalists in US history. Police identified the suspect as Jarrod Ramos, 38, from Laurel, about 25 miles (40 km) west of Annapolis. He faces five counts of first degree murder in Anne Arundel County criminal court where a bail hearing was expected at 10:30 a. m. EDT (1430 GMT) Friday, The Capital Gazette newspaper group reported. Ramos had a longstanding grudge against the newspaper and unsuccessfully sued it for defamation in 2012 over an article that reported how he harassed a former high school classmate, court records showed. from The News International - World https://ift.tt/2tGuOf1

MORONI, Comoros: The vice president of the Comoros, who recently denounced President Azali Assoumani’s plans for a constitutional referendum as “illegal”, has been stripped of most of his duties as part of a cabinet reshuffle. As vice president, Ahmed Said Jaffar had been in charge of eight ministries, including the agriculture, energy and industry portfolios. But following the shakeup, he was only left with one — the social cohesion ministry, according to an official decree published on Thursday. Earlier this month, Jaffar had very publicly criticised Assoumani’s plans for a July 29 referendum which could allow the president to remain in power beyond 2021 when his term would otherwise end. Under the current constitution, there is a rotation of power every five years between the three main islands that make up this Indian Ocean archipelago which lies between Mozambique and Madagascar. from The News International - World https://ift.tt/2tSxAwP

ANKARA: Turkey will not cut off trade ties with Iran at the behest of other countries, Turkish Foreign Minister Mevlut Cavusoglu said on Friday, after the United States told countries to cut all imports of Iranian oil.Washington has told its allies to cut imports of Iranian oil by November, a senior State Department official said this week, as President Donald Trump looks to cut off funding to Iran. Trump in May said his administration was withdrawing from the “defective” 2015 nuclear deal agreed by Iran and six world powers. “If the United States’ decisions are aimed at peace and stability, then we’ll support them, but we don’t have to follow every decision.Being allies doesn’t mean following every decision word for word,” Cavusoglu told broadcaster NTV in an interview. “Iran is a good neighbour and we have economic ties. We are not going to cut off our trade ties with Iran because other countries told us so. “Turkey, a NATO ally, is dependent on imports for almost all of its energy n...

BAMAKO: The Malian headquarters of an anti-terror task force, the G5 Sahel, came under attack on Friday, killing six people and leaving many injured, according to a provisional toll.A suicide bomber tried to penetrate the base at Sevare in central Mali, according to a security source, while a local orange seller, Haoussa Haidara, said “there was a huge blast” followed by exchanges of gunfire.Sounds of gunfire could still be heard an hour later.It is the first attack on the headquarters of the joint force, set up in 2017 to roll back jihadist insurgents and criminal groups in the vast, unstable Sahel region.It came three days before a meeting in the Mauritanian capital of Nouakchott between French President Emmanuel Macron and the heads of the G5 Sahel states to discuss progress made by the force.Six people were killed in the attack, according to a hospital and a military source, giving an interim toll. “We transported the bodies and the injured to the hospital, but we don’t know whethe...

BEIRUT/GENEVA: More than 120,000 civilians have been uprooted by a Syrian army offensive in the southwest since it began last week, a war monitor said on Friday, and a senior UN official warned of catastrophe as they risked being trapped between warring sides.Government forces and their allies appeared to be making significant gains in eastern Deraa province, where state media said they marched into several towns. A rebel official said opposition front lines had collapsed. The Russian-backed offensive has killed at least 98 civilians, including 19 children, since June 19, the Syrian Observatory for Human Rights said.It has also driven tens of thousands of people towards the border with Jordan and thousands more to the frontier with the Israeli-occupied Golan Heights, the UK-based monitor said. Israel and Jordan - which is already hosting 650,000 Syrians - say they will not let refugees in. “We left under bombardment, barrel bombs, (air strikes by) Russian and Syrian warplanes,” said Ab...

New Delhi: Authorities in northeastern India have cut internet access after crazed mobs beat three people to death in lynchings sparked by rumours spread on smartphones, officials said Friday.They were the latest in a string of more than 25 similar killings in recent months across India, according to press reports, that have been ignited by false information spread on messaging service WhatsApp. “The administration has decided to cut off the internet and mobile messaging services for next 48 hours... to stop rumour mongering,” said Smriti Ranjan Das, a police spokesman in the tribal-dominated state of Tripura.The latest victims, one of whom was tasked by authorities with warning people against hoaxes, perished in three separate incidents on Thursday in Tripura. Locals in Sabroom, some 130 kilometres (80 miles) from the state capital Agartala, attacked “rumour buster” Sukanta Chakraborty with sticks and bricks as he was warning people on a megaphone against erroneous rumours. Tripura po...

WASHINGTON: A US State Department report on human trafficking warned on Thursday that removing children from their families made them easy targets for traffickers, raising questions about the Trump administration’s policy of separating immigrant children and parents illegally crossing the U. S-Mexico border.The annual Trafficking in Persons report looked at 187 countries and territories and ranked them into four tiers. In a special section, the State Department said children should only be removed from their families as a “temporary, last resort.” John Sifton, an advocacy director for Human Rights Watch, said the report “is an indictment of the Trump administration’s own policies with respect to asylum seekers and others seeking entry into the United States.”Since April, more than 2,300 children have been separated from their parents as a result of US President Donald Trump’s “zero-tolerance” policy for illegal immigrants. Children were kept in shelters while their parents waited to ha...

BERLIN: German Chancellor Angela Merkel sealed key deals with EU partners on stemming migrant flows Friday, in a crucial breakthrough ahead of a weekend deadline to bridge a deep rift within her fragile ruling coalition.As she faced the biggest challenge to her leadership in 12 years in power, Merkel told reporters in Brussels that she thought the accords would suffice for now to placate the hardline rebels within her government.Overnight, the 28 EU countries agreed a raft of measures including the setting up of secure centres for migrants in the bloc, “disembarkation platforms” in North Africa and sharing out refugees among member states.Later Merkel announced bilateral accords with Greece and Spain to take back from Germany asylum-seekers who had already registered in their countries. Merkel’s government is hanging in the balance, as she faces a threat by her Interior Minister Horst Seehofer that unless she reaches EU deals allowing the return of many asylum-seekers, he will shutter ...

PARIS: Ferran Adria — “the most influential chef in the world” — is a man on a mission. Just not one that involves him having to run a restaurant. The Catalan — whose elBulli restaurant was named the best on the planet a record five times — is out to prove that the wildly experimental dishes he pioneered there still cut the mustard.In the seven years since he unexpectedly shut the legendary Costa Brava restaurant, with 3,000 people still on the waiting list for a table, simpler more earthy cooking has come into vogue.But the father of molecular cuisine, who brought the world the idea of “mandarin air”, eating smoke, caramelised quails, trout egg tempura and any number of foams and emulsions, told AFP that he has not stood still.“I have not stopped working” nor experimenting, he said, since he shuttered elBulli, which held the maximum three Michelin stars. Back then Adria admitted that he was feeling a little jaded.But as he explains in a new 15-part documentary series about his incredi...

Tampa: A ball-shaped artificial intelligence robot nicknamed the “flying brain” because it is trained to follow and interact with a German astronaut, blasted off Friday toward the International Space Station (ISS) aboard SpaceX’s Dragon cargo ship.A new, spare hand for the station’s robotic arm, an experiment to measure plant stress in space and a study of a new cancer treatment were also on board as the Falcon 9 rocket lifted off from Cape Canaveral, Florida at 5:42 am (0942 GMT). “We have ignition and liftoff! The Falcon 9 rocket powers the Dragon spacecraft toward the International Space Station,” said a NASA commentator as the white rocket fired its engines and lit up the skies on a dark, Florida morning. The unmanned Dragon capsule carried 5,900 pounds (2,700 kilograms) on its 15th supply mission to the orbiting lab, as part of a $1.6 billion contract with NASA.Both the capsule and the rocket have flown before. The Dragon sent cargo to space in 2016 and the Falcon blasted off a NA...

THE HAGUE: The United Arab Emirates has spread a “climate of fear” among Qataris living there, splitting families and causing “substantial pain” during a year-long blockade, the UN’s top court heard Friday. As the bitter Gulf crisis moves to the world tribunals, Doha is appealing to the International Court of Justice (ICJ) in The Hague to order emergency measures to lift restrictions imposed on Qataris in June 2017 by Abu Dhabi. from The News International - World https://ift.tt/2NbRZWp

GAZA CITY: Israeli troops shot dead two Palestinians, one in his early teens, in border clashes Friday in the southern Gaza Strip, the Hamas-ruled territory’s health ministry said.Ministry spokesman Ashraf al-Qudra told AFP a Palestinian youth aged about 13 was shot in the head near the town of Khan Yunis in the Gaza Strip, without giving his name or exact age. He added that 24-year-old Mohammed al-Hamayda had died after being hit in the stomach by Israeli fire in a separate incident east of Rafah.The Israeli army gave no immediate comment.Since protests broke out along the Gaza border on March 30, at least 137 Palestinians have been killed by Israeli fire.The majority were involved in protests but others were seeking to breach or damage the border fence.No Israelis have been killed. On Thursday, Abdel Fattah Abu Azoum, 17, was hit in the head by fire from an Israeli tank near Rafah in southern Gaza.The Israeli army said he and a companion were trying to break through the border fence....

KARACHI: A much-touted tax amnesty scheme, likely to conclude today, mostly attracted existing taxpayers who so far declared around two trillion rupees of their previously-hidden local and foreign assets, officials said on Friday.The officials said the compliant taxpayers form majority of the people who availed the tax amnesty for undisclosed foreign and domestic assets.“New taxpayers are very few in the total declarations filed so far under the amnesty scheme,” an official of the Federal Board of Revenue (FBR) said.“Most of existing taxpayers are availing the amnesty. And, it is surprising that industrialists and manufacturers, who are already on the tax net, are availing the scheme.”Paltry 1.3 million income tax returns were filed for the tax year of 2017.In April, the last government announced tax amnesty scheme for three months to give residents one-off tax benefits for repatriating undeclared local liquid assets with a five percent penalty, undeclared foreign liquid assets with a ...

ISLAMABAD: A senate body on Friday proposed the government to restore the tax exemptions given to industries in federally- and provincially-administered tribal areas before their merger into Khyber Pakhtunkhwa.The Senate Standing Committee on Finance and Revenue unanimously recommended restoration of the tax exemptions, which were being availed by FATA, PATA and Malakanddivision prior to 25th constitutional amendment that led to merger of the areas into Khyber Pakhtunkhwa, for five years.The committee, however, recommended that the exemption should be given only to the industries which are operational.On provision of tax exemption to the new industries to be established during the next five years, the committee decided that it would visit the areas in the first week of August and hold meetings with all the stakeholders, including local chambers of commerce and industries to determine criteria in the regard.Senator Farooq Naik presided over the meeting that was attended by senators Mohs...

KARACHI: Pakistan’s depleting foreign reserves brought the country’s import cover down to 1.8 months and the country may soon need to seek $10 to 15 billion of bailout package from the International Monetary Fund (IMF), analysts said on Friday.“Looking at history, it looks like Pakistan usually rushes to IMF when the forex reserves fall below 2 months of goods imports,” Executive Director - Research at Insight Securities Zeeshan Afzal said in an economic outlook. “Currently, the country has 1.8 months of import cover, and the finance managers have started hinting at possible negotiation with the IMF.”The country’s foreign exchange reserves fell 3.3 percent to $16.243 billion during the week ended June 22.Afzal expected the country to back to its usual lender of last resort for up to $15 billion bailout package, “which would also bring more loans flows from other lenders”.“However, the bailout would be contingent upon very strong commitment to reforms as under normal course IMF lends up...

KARACHI: Pakistan has vowed to address the strategic deficiencies identified by the global financial system watchdog in the country’s compliance with the standards of anti-money laundering (AML) and combating the financing of terrorism (CFT).The Financial Action Task Force (FATF) on Friday said Pakistan provided “a written high-level political commitment to address the identified deficiencies”.“The FATF calls on [Pakistan] to complete the implementation of action plan expeditiously and within the proposed timeframe,” said the taskforce that works to identify the risks to the international financial system.A Pakistani delegation attended the FATF six-day plenary meeting, which concluded on Friday, to submit its action plan to curb money laundering and terror financing. In February, the FATF decided to place the country on its grey list, but Pakistan managed to avert being placed on the black list.The country was previously part of high risk jurisdictions (blacklist) in 2008 and 2012, wh...

KARACHI: Chinese automakers are set to kick-start their $100 million car assembling plant with annual production capacity of 30,000 units by the year-end, officials said on Friday.“We are excited to see the market potential in Pakistan as well as the export opportunities we can tap,” Wang Huanran, assistant president and general manager of Overseas Business Development at Changan Automobile told media.Changan Automobile signed an agreement with Master Motor Limited, an authorised assembler of Chinese auto brand in Pakistan and that is already assembling buses and trucks in Pakistan.The companies entered into a joint venture to contribute to the indigenisation of the local automobile industry.They would pool their resources and expertise to achieve the common goal of becoming Pakistan’s leading automobile company by 2025, Huanran said.Changan has selected Pakistan as the base country for making of right hand drive vehicles.Huanran said Changan is the largest selling Chinese auto brand i...

ISLAMABAD: The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on June 28 for the combined income groups witnessed increase of 0.07 percent as compared to the previous week.The SPI for the week under review in the above mentioned group was recorded at 230.25 points against 230.09 points last week, according todata released by the Pakistan Bureau of Statistics (PBS) on Friday.As compared to the corresponding week of last year, the SPI for the combined group in the week under review witnessed increase of 4.02 percent. The weekly SPI has been computed with base 2007, 2008=100, covering 17 urban centres and 53 essential items for all income groups.Meanwhile, the SPI for the lowest income group up to Rs8,000 also increased by 0.24 percent as it went up from 216.31 points in the previous week to 216.83 points in the week under review.As compared to the last week, the SPI for the income groups from Rs8001 to Rs12,000, Rs12,001 to Rs18,000, and Rs18,001 to Rs35,000 in...

LAHORE: Guard Group introduced auto brands to fight off foreign competition in the local market. It is also into production of lubricants and hybrid seeds. Here are the excerpts of an interview with the group’s Chairman Iftikhar Ali Malik.Q: What is the secret of Guard’s success?A: Our family remained focused on manufacturing. We never indulged into any speculative business. We have never invested in real estate or gold. We never accumulated dollars or ventured into stock market operations. Our business also suffers when there is a slump in the market, but we put in more efforts to keep up our growth even in the testing times.Today we are the exclusive supplier of oil and air filters to the original equipment manufacturers as well as auto aftermarket. We are also the largest supplier of hybrid rice seed in Pakistan and recently ventured into exports.Q: How did the company manage to compete with internationally-reputed auto brands?A: We produced better quality filters at very competitiv...

Stocks closed flat on Friday as investors remained on the sidelines due to poor economic indicators, including external account vulnerability and rising circular debt, dealers said.Analyst Ahsan Mehanti from Arif Habib Corporation said stocks closed lower amid pressure in scrips across the board after Moody’s statement on external account vulnerability due to surging foreign debt.Investors showed concerns for hike in domestic gas prices and foreign outflows, whereas the pending energy sector circular debt also played a catalytic role in the bearish close, Mehanti added.Pakistan Stock Exchange (PSX) benchmark KSE-100 shares index shed 0.21 percent or 86.95 points to close at 41,910.90 points, whereas KSE-30 shares index lost 0.49 percent or 100.93 points to finish at 20,568.57 points.Of 341 active scrips, 170 advanced, 160 declined, and 11 remained unchanged. The ready market volumes stood at 166.083 billion shares compared to a turnover of 159.817 billion shares in the previous session...

The increased uncertainty and risks will weigh on business confidence and investment, especially cross-border investment. There will be an impact on growth, in China, the US and elsewhereLouis Kuijs—Head of Asia economics at Oxford Economics from The News International - Business https://ift.tt/2tQrcWP

TOKYO: Japan´s Sharp Corp scrapped a plan to issue up to $2 billion in new shares, changing its mind in a matter of weeks after the initial announcement prompted investors to dump its shares on fears of earnings per share dilution.In a statement on Friday, Sharp cited worries about trade frictions between the United States and China."Due to increasing market uncertainties, the company decided that carrying on with the plan to issue new shares would not yield maximum benefit for shareholders," it said.Sharp shares rose 17 percent by early afternoon as investors cheered the about-face.The plans to issue new shares, announced on June 5, had sparked a sell-off on the market as they would have eroded Sharp´s earnings per share by about 20 percent."The shares fell after the announcement, so they decided to quit. It´s that simple," said Masayuki Otani, chief market analyst at Securities Japan."To announce a new share issue, and then say ´we changed our mind´ because t...

The rupee closed higher against the dollar on Friday on the back of soft dollar demand from importers, dealers said.The rupee closed at 121.49 to the dollar as compared to 121.54 in the interbank market. However, the currency lost ground in the open market due to fresh surge in the dollar demand. In the open market, the rupee ended at 124/124.50 against the dollar. It traded at 123.40/123.80 in the previous session.Pakistan’s foreign exchange reserves fell 3.30 percent to $16.243 billion during the week ended June 22, according to the data released by the central bank on Thursday.The reserves held by the State Bank of Pakistan (SBP) decreased $602 million on weekly basis. The SBP’s reserves were $9.662 billion. The forex reserves of commercial banks rose to $6.581 billion as compared to $6.533 billion in the preceding week. from The News International - Business https://ift.tt/2tLlLZk

TOKYO: The dollar held firm versus the yen on Friday, supported by quarter-end buying as well as an absence of any fresh escalation in trade-related tensions between the United States and its major trading partners.Still, trade worries look set to dominate the market with traders increasingly worried about the impact of Sino-U.S. trade disputes on China´s economy.The dollar firmed to 110.49 yen, having made gains for the last three sessions and nearing this month´s high of 110.905, helped by seasonal buying at the end of quarter and half-year.The yen, which tends to be bought on signs of economic stress because of expectations of Japanese asset repatriation, also lost some support after U.S. President Donald Trump indicated he would take a softer approach on Chinese investments in U.S. technology companies.The dollar is also broadly supported thanks to the prospects of rising U.S. interest rates on the back of solid expansion in the U.S. economy.The dollar´s index against a basket of s...

Bengaluru : Gold rose early Friday after slipping to a more than six-month low in the previous session, as the dollar retreated from recent highs amid a rising euro, but the yellow metal was on track for its worst month since November 2016. Spot gold was 0.2 percent higher at $1,250.90 an ounce, as of 0502 GMT.On Thursday, it touched $1,245.32, its lowest since December 13, 2017. "We´ve seen a pop up in euro which put a bit of pressure on dollar, so gold is being bought. I don´t think it is going to be long lived.Europe will come in and sell and dollar is probably still firm," a Hong Kong-based trader said.The yellow metal was on track for its third straight weekly decline, having slipped 1.4 percent so far this week. Spot gold was down about 3.6 percent for the month, heading towards its worst monthly loss since November. from The News International - Business https://ift.tt/2tLlIg6

Singapore : Oil prices dipped on Friday amid escalating trade friction between the United States and other major economies, although crude markets remain tight due to supply disruptions and generally high demand.U.S. West Texas Intermediate (WTI) crude futures were at $73.19 a barrel at 0421 GMT, down 26 cents, or 0.4 percent, from their last settlement.West Texas Intermediate on Thursday hit its highest since November 2014 at $74.03 per barrel.Brent crude futures were at $77.74 per barrel, down 11 cents, or 0.1 percent.Friday´s falls came as Asian stock markets were near nine-month lows, despite a small rebound, amid an escalation of trade disputes between the United States on one side and economies including China, India and the European Union on theother. from The News International - Business https://ift.tt/2lKZCXz

Kuala Lumpur : Malaysian palm oil futures fell in the first half of trade on Friday, easing from a two-week high hit in the previous session, on pressure from a stronger ringgit.The ringgit, palm´s currency of trade, strengthened 0.12 percent to 4.0350 against the dollar on Friday noon.A stronger local currency typically makes palm oil more expensive for holders of foreign currencies.The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was down 0.5 percent at 2,332 ringgit ($577.94) a tonne at the midday break, in line to snap two days of gains and is up 2.1 percent so far this week.Palm, however, is down 4 percent on-month, and has shed 6.8 percent since the start of the year. Trading volumes stood at 14,304 lots of 25 tonnes each at noon. from The News International - Business https://ift.tt/2yWe08I

Beijing : Three-month copper on the LME rose 0.8 percent to $6,676 a tonne and is on track for a 0.5 percent dip this quarter.ShFE copper closed down 0.2 percent but still posted a 1.8 percent gain over the three months.Zinc shrugged off early losses to trade higher for a third day on Friday on the prospect of Chinese smelters cutting output by 10 percent in response to low prices and treatment charges.Helen Lau, an analyst at Argonaut Securities in Hong Kong, said a 10 percent cut implied that 400,000 tonnes of the metal would come out of the market in China, the world´s biggest zinc producer, on an annualised basis.There is "a need for smelters to constrain their production because demand is weak, especially the demand from galvanising," she added. Zinc is used to galvanise steel. from The News International - Business https://ift.tt/2lKxEem

Geneva: Swiss pharmaceutical giant Novartis said Friday it planned to cut loose its Alcon eye care division, and aimed to buy back $5.0 billion of its own shares by the end of 2019.Novartis said that by spinning off Alcon, it would be able to better focus on its pharmaceutical business.At the same time, Alcon "would become a publicly traded global medtech leader based here in Switzerland," Novartis chairman Joerg Reinhardt said in a statement."Our strategic review examined all options for Alcon ranging from retention, sale, IPO to spinoff," he explained."The review concluded that a spinoff would be in the best interests of Novartis shareholders," he said, adding that the Novartis board planned to seek shareholder approval at its 2019 general assembly. The deal will also need the approval of competition authorities.When Novartis snapped up Alcon in 2011, the eye care firm comprised of three divisions: surgery, vision care and ophthalmic pharmaceuticals.But ...

KARACHI: The declining trend of exports has been reversed and exports are expected to increase by 14 to 15 percent, rising up to around $23.4 billion by year-end, Secretary Commerce Younus Dagha said while talking to local industrialists on Friday.Speaking at SITE Association of Industry, Dagha informed that several initiatives were being taken, including three-year extension of export package on the ratio of 50 percent on regular exports and 50 percent on condition of incremental exports, while duty had been revised down on raw materials.“For the first time Pakistan’s National Tariff Policy has been drafted which will be tabled before the upcoming government. Suggestions from industrialists are required on National Tariff Policy 2018-23 which is available on the Ministry’s website,” he added.The secretary commerce said under the emerging Pakistan initiative, several image building measures had been taken to improve the country’s image worldwide and boost confidence of the local indust...

KARACHI: The State Bank of Pakistan (SBP) on Friday injected Rs1,460.050 billion in the money market for seven days as reverse repo purchase through its open market operation, a statement said. The rate of return accepted is 6.53 percent/annum, it added. from The News International - Business https://ift.tt/2z6tebx

KARACHI: Pakistan’s trade mission in Hong Kong has advised the Trade Development Authority of Pakistan (TDAP) to ensure exporters’ active participation in trade fairs in Hong Kong, and underlined the substantial export potential of sports goods and apparels.The mission in its report to TDAP said events like Hong Kong Toys and Games Fair and Hong Kong Fashion Week offered substantial opportunities, which Pakistan’s exporters should exploit to grab share in the unconventional markets, it added. “If we compare our export performance for some major export items for the last two years, we do not get an optimistic picture where we have witnessed declining trends in most items except some growth in rice and seafood,” the report added. During July-December 2017, the global imports of Hong Kong have been around $301.19 billion, while Hong Kong’s overall trade crossed $569.68 billion during the period, marking an increase of 7.78 percent. During the the same period, Hong Kong’s exports to Pakist...

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has signed memorandums of understanding (MOU) with Government College University Lahore (GCU), Kinnaird College for Women (KC), and Beaconhouse National University (BNU) to collaboratively disseminate financial education to students.The MoUs fall under the banner of Jamapunji, SECP’s ongoing financial literacy and investor awareness campaign, a statement said on Friday. Multiple activities such as research projects, development of academic research and case studies, seminars, webinars, and panel discussions for student and Faculty Development Programs (FDPs) would be organised.SECP Commissioner Shauzab Ali stressed upon the dire need to develop keen realisation in students for personal financial planning and early savings and investment, and said this was critical for increasing the capital market investor base in Pakistan. KC Principal Prof Dr Rukhsana David emphasised the role of encouraging female students to devel...

BENGALURU: Oil prices look set to stay strong for the rest of this year and in 2019 thanks to supply disruptions and as extra oil from OPEC fails to meet rising demand, a Reuters poll showed on Friday.A survey of 35 economists and analysts forecasts Brent crude will average $72.58 a barrel in 2018, 90 cents higher than the $71.68 forecast in last month´s poll and compared with the $71.15 average so far this year.The monthly survey sees U.S. crude futures averaging $66.79 a barrel in 2018, compared with $66.47 forecast last month. "Supply deficit in the oil market is here to stay," Frank Schallenberger, head of commodity research at LBBW, said."I expect OPEC to increase production by some 600,000-800,000 barrels per day till the end of the year.This won´t be enough to compensate for rising demand and declining output in countries like Iran or Venezuela. "Last week, the Organization of the Petroleum Exporting Countries led by Saudi Arabia and its allies including Russ...

Brussels: The European Union warned on Friday that Britain was running out of time to get a deal on Brexit, as leaders agreed to step up preparations for the possibility that talks collapse.Meeting without Prime Minister Theresa May on the second day of a Brussels summit, the other 27 EU leaders requested "further clarity" from her divided government on what it wants.Britain is hoping to agree a withdrawal deal and the outline terms of a future trading and security partnership by October, ahead of Brexit in March 2019.Chief negotiator Michel Barnier said progress had been made but there remained "serious divergence" on the question of how to avoid checks on the Irish border after Brexit.He said he hoped a forthcoming policy paper from London would "contain workable and realistic proposals" for the negotiations."But let me mention once again that time is very short. We want a deal and are working for a deal, but time is short," he said. He invited...

Beijing: China has announced sectors of the economy where it will ease foreign investment rules, with leaders stepping up efforts to portray the country as opening up as they prepare for a possible trade war with the United States.The new "negative list" outlines key reforms in the financial sector while dropping restrictions in areas including the car industry, agriculture, infrastructure and mining.The list released Thursday by the National Development and Reform Commission (NDRC), which will come into effect on July 28, will reduce the number of fields with limits from to 48, from 63 last year.But it also notes some sensitive areas such as culture and national security will continue to be protected.The announcement comes after the government unveiled changes earlier this year, which were seen as a nod to the United States and other western nations that have complained about lack of access to the world´s number two economy for years.Among them are the cancellation of foreig...

WASHINGTON: JS Global Capital (JSGCL), Pakistan’s leading brokerage and investment banking firm, organized the third of its kind Pakistan Investment Conference 2018 from 25-27 June 2018 in the United States.The high-powered delegation included Kamran Nasir -CEO JS Global Capital Ltd, Khalid Mansoor- Member Overseas Investors Chamber of Commerce (OICC), Ehsan Malik - CEO Pakistan Business Council, Richard Morin - CEO Pakistan Stock Exchange and Sulaiman Mehdi – Director Pakistan Stock Exchange.Comprised of representatives from business advocacy platforms such as Overseas Investors Chamber of Commerce and Industry (OICCI) and Pakistan Business Council (PBC), the delegation included corporate entity heads and senior management from many leading Pakistani companies including Engro Corporation (ENGRO), Hub Power Company (HUBC), United Bank Limited (UBL), MCB Bank Limited (MCB), Meezan Bank (MEBL), JS Bank (JSBL), DG Khan Cement (DGKC), Fauji Fertilizer Bin Qasim (FFBL), Fauji Foods, (FFL) a...

WASHINGTON: U.S. consumer prices accelerated in the year to May, with a measure of underlying inflation hitting the Federal Reserve´s 2 percent target for the first time in six years.The rise in price pressures reported by the Commerce Department on Friday will probably not shift the Fed from its stated path of gradual interest rate increases as policymakers have indicated they would not be too concerned with inflation overshooting its target.The U.S. central bank raised interest rates early this month for a second time this year and forecast two rate more hikes by the end of 2018. Inflation is pushing higher in part because of a tightening labor market, which is characterized by a 3.8 percent unemployment rate.Consumer prices as measured by the personal consumption expenditures (PCE) price index rose 0.2 percent after a similar gain in April.In the 12 months through May, the PCE price index surged 2.3 percent.That was the largest rise since March 2012 and followed a 2.0 percent increa...

London: After establishing its strong presence within the real estate industry of Pakistan, and extending its foothold in Dubai, Eighteen has now announced its arrival in northwest Europe with a grand launch event in London, at The Dorchester. The event attracted several overseas Pakistanis along with the who’s and who of the localites of UK.Speaking at the auspicious occasion of Eighteen’s launch in London, Mr. Tarek Hamdy, CEO, Eighteen said, “Eighteen has completely revolutionized the real estate projects in Pakistan by adding the modern state of the art feel to all our projects, thus redefining the way people want to live.Next in line is our network expansion, which aims to provide accessibility and convenience to our consumers across the globe, and today I am extremely honored to announce our arrival in the United Kingdom.” Mr. Hamdy further emphasized on how Overseas Pakistanis have not been let go of their roots in Pakistan and always long for a home back home.He further added, ...

The suspect in the shooting at the Capital Gazette newsroom in Maryland on from Yahoo News - Latest News & Headlines https://ift.tt/2yWtKbQ via IFTTT

Trump’s opponents see little likelihood of blocking the president’s eventual nominee. But liberal groups are huddling to draw up battle plans anyway. from Yahoo News - Latest News & Headlines https://ift.tt/2lI2XGT via IFTTT

Mass shootings have become alarmingly common in American life, from the shooting at Marjory Stoneman Douglas to the tragedy on Thursday at the Capital Gazette newspaper. The motivation for this most recent attack is still unclear, authorities say. from Yahoo News - Latest News & Headlines https://ift.tt/2tDFTgK via IFTTT

A photograph of a humpback whale calf’s tail has earned Reiko Takahashi of Japan the prestigious grand prize in the 2018 National Geographic Travel Photographer of the Year contest. Takahashi took the photo, titled “Mermaid,” off the coast of Japan’s Kumejima Island. The longtime photographer left her office job to pursue her passion for underwater photography and traveled to Kumejima Island on a mission to photograph humpback whales with their young calves. from Yahoo News - Latest News & Headlines https://ift.tt/2tCcN1c via IFTTT

The short list contains all appeals court judges, including Amy Coney Barrett of Indiana, Brett Kavanaugh of Maryland, and Thomas Hardiman of Pennsylvania. from Yahoo News - Latest News & Headlines https://ift.tt/2tADXpl via IFTTT

Just six weeks ago, when Alexandria Ocasio-Cortez was still campaigning in from Yahoo News - Latest News & Headlines https://ift.tt/2IxCaWx via IFTTT

The Customs and Border Patrol agency (CPD) said that it was the only drink he had and carried no food. Mrs Trump was shown pictures of the boy during a visit to a CPD facility in Tucson, Arizona. In a call to CPD, a spokesperson for the border patrol confirmed to The Independent that the child was no longer in their custody, but would not release where he had been transferred, citing personal protection. from Yahoo News - Latest News & Headlines https://ift.tt/2IC4TK2 via IFTTT

In one remarkably tense exchange, Rosenstein sparred with Rep. Jim Jordan, R-Ohio, who accused the deputy attorney general of “hiding” information from Congress. from Yahoo News - Latest News & Headlines https://ift.tt/2IAGzZ1 via IFTTT

A Palestinian teenager died on Thursday after being hit by Israeli tank fire on the Gaza border, the territory's Hamas-run health ministry said. Abdel Fattah Abu Azoum, 17, was hit in the head earlier on Thursday near Rafah in southern Gaza, the ministry said. The Israeli army said he and a companion were seeking to breach the border. from Yahoo News - Latest News & Headlines https://ift.tt/2tDpGIp via IFTTT

After a violent attack left a man unconscious in the middle of a Bronx crosswalk, people started stealing from the victim's pockets, police said. from Yahoo News - Latest News & Headlines https://ift.tt/2MxiBQA via IFTTT

Robyn Rodgers, of New York, took to Instagram to discuss the incident. from Yahoo News - Latest News & Headlines https://ift.tt/2KzcHOg via IFTTT

Republicans are planning to hold a confirmation vote before the midterm elections, refusing Democrats’ demands for a delay. from Yahoo News - Latest News & Headlines https://ift.tt/2tS0wFh via IFTTT

Protesters shut down a portion of the Tri-Boro Expressway outside Pittsburgh from Yahoo News - Latest News & Headlines https://ift.tt/2KvYlhS via IFTTT

Bruce Turkel, a Miami advertising executive who had been a frequent guest on from Yahoo News - Latest News & Headlines https://ift.tt/2KfMNDc via IFTTT

The Indonesian tourist island of Bali closed its international airport on Friday, stranding thousands of travellers, as the Mount Agung volcano gushed an 8,200-feet column of ash and smoke. The National Disaster Mitigation Agency said nearly 450 flights were cancelled, affecting some 75,000 people. The regional Volcanic Ash Advisory Centre in Darwin, Australia, said winds would carry the ash southwest toward Java, Indonesia’s most densely populated island. Volcanic ash is a potentially deadly threat to aircraft that can cause engines to "flame out." The volcano began belching ash and smoke on Thursday and several airlines cancelled inbound and outbound flights scheduled for the evening. "We hadn’t a place to stay for the night so we had to find something else, just took a taxi and stayed at a random hostel," said a stranded German backpacker who identified herself as Louisa. "We hoped we could leave this morning, but the airport is closed," she said. Mount...

PORTLAND, Ore. (AP) — Authorities detained nine people Thursday while trying to reopen a U.S. Immigration and Customs Enforcement building in Portland, Oregon, that had been closed because of a round-the-clock demonstration. from Yahoo News - Latest News & Headlines https://ift.tt/2KvlvF5 via IFTTT

"There’s every reason to believe that Roe v. Wade is on the chopping block" from Yahoo News - Latest News & Headlines https://ift.tt/2lG7Q36 via IFTTT

Ann Brenoff's "On The Fly" is a column about navigating growing older ― and a from Yahoo News - Latest News & Headlines https://ift.tt/2NbiNWN via IFTTT

Police respond to a shooting on Thursday at the Capital Gazette in Annapolis, Maryland, where five people were shot and killed. Jarrod Ramos, the suspect charged in the killing of five people at the Capital Gazette in Maryland, had a long-term hatred of the paper. Ramos’s vendetta against the Capital Gazette began when the publication accurately reported, in 2011, that he had stalked and harassed a woman for more than a year. from Yahoo News - Latest News & Headlines https://ift.tt/2KBSWJv via IFTTT

Since 1970, more than 90 perfect of all U.S. dairy farms have closed due to low milk prices and industry restructuring. Recently, a corporate decision by Walmart led to the shutdown of a three-generation family-run dairy farm in Kentucky. from Yahoo News - Latest News & Headlines https://ift.tt/2yVwy9j via IFTTT

Deputy Attorney General Rod Rosenstein deflected heated attacks from from Yahoo News - Latest News & Headlines https://ift.tt/2lEJsid via IFTTT

A kind samaritan made the closure of Toys 'R' Us a little easier for the children of North Carolina who don't wanna grow up.  The future youth of America will never know the overwhelming feeling of joy while running through the aisles of the giant toy chain. After filing for bankruptcy in September, more than 700 Toys 'R' Us stores will be closing for good on Friday. SEE ALSO: Please enjoy this wonderful dog frolicking through a homemade ball pit An anonymous person purchased $1 million worth of toys from a Toys 'R' Us in Raleigh, North Carolina, local outlet CBS 17 reports. The toys will reportedly be donated to local children, according to employees who work at the store.  Instead of opening the store one last time on Friday, employees spent the day packing up boxes and putting them on a truck for the generous person.  Customers looking to get some last minute deals were greeted with locked doors, though some didn't seem to mind upon hearing the news. ...

The seven nations under the Trump administration's travel ban — upheld by the U.S. Supreme Court — include five majority Muslim countries, prompting dissenting Justice Sonia Sotomayor to assert that the entry restrictions were motivated by "animus toward the Muslim faith." The administration cites security concerns. from Yahoo News - Latest News & Headlines https://ift.tt/2Kekq8x via IFTTT

Los Angeles Dodgers utility player Enrique Hernandez on Friday said money he raised to help Puerto Rico recover from last year's deadly Hurricane Maria will be spent in the coming weeks to build more than 100 homes, but more aid is needed. Hernandez and his fiance raised more than $120,000 for aid group Habitat for Humanity in the aftermath of the storm and the Dodgers and team owner Mark Walter donated an additional $2 million in March. from Yahoo News - Latest News & Headlines https://ift.tt/2KzrkRV via IFTTT