Pakistan plans to sell 40pc of stock exchange

PAKISTAN plans to sell a 40 percent stake in its stock exchange in coming months, and Turkey's Borsa Istanbul has expressed some initial intent, the head of the bourse said on Monday.
23 May 2016, 18:00 PM

Oil approaches $50

Crude prices approached $50 Wednesday as escalating wildfires in Canada's oil sands region helped to reduce a global supply glut, while traders awaited key US energy inventory data.
18 May 2016, 18:00 PM

Microsoft to sell feature phone business to Foxconn subsidiary, HMD Global

Microsoft Corp said it is selling its entry-level feature phone assets to FIH Mobile Ltd and HMD Global Oy for $350 million.
18 May 2016, 18:00 PM

Nigerian union faction orders strike over petrol price rises

Nigeria's government on Wednesday warned against "illegal strike action" after some union members vowed to press ahead with a national strike over petrol price rises despite a court injunction.
18 May 2016, 18:00 PM

Currency wars, fiscal stimulus rift in focus at G7 meeting

Finance ministers and central bankers from the G7 meet in Japan this week for talks likely to highlight a sharp divide over currency policy and how to breathe life into the wheezing global economy.
18 May 2016, 18:00 PM

Suzuki denies cheating on fuel, emissions testing

Suzuki on Wednesday admitted to finding "discrepancies" in its fuel-economy and emissions testing, but the firm denied deliberately manipulating data to make cars seem more efficient.
18 May 2016, 18:00 PM

US banks scrutinise SWIFT security after hacks: reports

Major US banks are scrutinising security of the SWIFT messaging network following cyber attacks in Bangladesh and Vietnam involving fraudulent transfer requests, according to media reports on Tuesday.
18 May 2016, 18:00 PM

Japan economy returns to growth in Q1, avoids recession

Japan sidestepped a recession after its economy grew in the first quarter, preliminary data showed Wednesday, but efforts to cement recovery in the world's number three economy were gaining little traction.
18 May 2016, 18:00 PM

Crisis for S Korea shipbuilders as golden age fades

After more than a decade of global dominance, South Korea's shipbuilders face an unprecedented crisis that threatens the very survival of one of the flagship industries of Asia's fourth largest economy.
18 May 2016, 18:00 PM

Ex-JPMorgan, Citi FX sales employees sue banks

A former London-based JPMorgan foreign exchange sales person is suing the Wall Street bank for unfair dismissal, according to a court filing released on Wednesday.
18 May 2016, 18:00 PM

Obama expands overtime pay coverage to 4.2m workers

The White House announced Wednesday the extension of overtime pay benefits to 4.2 million American workers forced to work long hours for relatively low wages.
18 May 2016, 18:00 PM

Nokia to make mobile, tablets comeback

Nokia, once the world's top mobile phone maker, on Wednesday announced its return to the fiercely competitive handsets and tablets market years after being crushed there by Samsung and Apple.
18 May 2016, 18:00 PM

Russian economy shrank 1.2pc in first quarter

Russia's economy contracted by 1.2 percent in the first quarter of this year compared with the same quarter last year, in a tentative sign of stabilisation, the state statistics service said on Monday.
16 May 2016, 18:00 PM

HSBC axes 840 IT jobs in Britain in first big wave of planned cuts

HSBC, Europe's largest bank, started laying off 840 information technology workers in Britain on Monday, the first big tranche of redundancies under a restructuring plan that will eliminate 8,000 British jobs by the end of next year.
16 May 2016, 18:00 PM

Chinese executive 'confesses' to $800m fraud

The alleged mastermind of a scam which cost Chinese investors hundreds of millions of dollars lived in a penthouse flat featuring peacocks and fountains, reports said Monday after he was paraded on television confessing.
16 May 2016, 18:00 PM

China car-hailing app eyes going public

Chinese ride-hailing app Didi Chuxing is mulling an initial public offering, a report said Monday, after US technology giant Apple invested $1 billion in the rival to Uber.
16 May 2016, 18:00 PM

Germany puts refugees to work ... for one euro

With a spoon and spatula in hand, Zaid, a 23-year-old Iraqi refugee, lifts the lid on a large pot filled with goulash and potatoes as he begins his shift.
16 May 2016, 18:00 PM

Nissan to be fined for emissions cheating in South Korea

South Korea said Monday it will fine Nissan for manipulating emissions data on a popular diesel sports utility vehicle, bringing the Japanese car giant into a widening global scandal that has already ensnared Volkswagen and Mitsubishi.
16 May 2016, 18:00 PM

Pfizer to buy Anacor Pharma in $5.2b deal

PFIZER Inc will buy Anacor Pharmaceuticals Inc in a deal valued at $5.2 billion, net of cash, to gain access to Anacor's experimental gel for treating eczema.
16 May 2016, 18:00 PM

DHL Global Forwarding banks on Bangladesh's potential

DHL Global Forwarding has great business potential with its capabilities, existing product portfolios and new business opportunities in Bangladesh, said Nooruddin Chowdhury, the company's country manager.
16 May 2016, 18:00 PM