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Pakistani money in Swiss banks down by one-third to hit record low

Pakistani money in Swiss banks down by one-third to hit record low

The Pakistani money in Swiss banks had fallen by over 20 percent in 2017 (to CHF 1,115 million) and by 6 percent in 2016. Before that in 2015, these funds had risen 16 percent.

Jun 28, 2019, 10:44 AM IST
Pakistan rupee reaches record low, sliding more than 3% slide in a day

Pakistan rupee reaches record low, sliding more than 3% slide in a day

The rupee closed at 161.94 against the dollar in the interbank market, continuing a slide since Pakistan signed an agreement with the International Monetary Fund last month for a $6 billion loan.

Jun 27, 2019, 12:50 PM IST
Letting Google launch Android was his 'greatest mistake', admits Bill Gates

Letting Google launch Android was his 'greatest mistake', admits Bill Gates

Google had purchased the Android for $50 million in 2005 which today is one of the most popular mobile OS in the world.

Jun 24, 2019, 15:19 PM IST
Walmart to pay over $282 mn for violating US anti-corruption regulations in four countries

Walmart to pay over $282 mn for violating US anti-corruption regulations in four countries

According to the US Security and Exchange Commission (SEC), these violations were conducted by Walmart's third-party intermediaries who made payments to foreign government officials without

Jun 21, 2019, 12:31 PM IST
China's benchmark overnight repo rate falls to lowest in four years

China's benchmark overnight repo rate falls to lowest in four years

Traders attributed the decline in the interbank repo rate to ample cash conditions in the banking system following persistent central bank fund injections via open market operations in recent days to

Jun 21, 2019, 10:07 AM IST
US Fed holds rates steady, signals cuts possible later this year

US Fed holds rates steady, signals cuts possible later this year

While new economic projections showed policymakers` views of growth and unemployment largely unchanged, they saw headline inflation at just 1.5 percent for the year, down from the 1.8 percent

Jun 20, 2019, 11:28 AM IST
Facebook plans to launch cryptocurrency called Libra

Facebook plans to launch cryptocurrency called Libra

Facebook has linked with 28 partners in a Geneva-based entity called the Libra Association, which will govern its new digital coin set to launch in the first half of 2020, according to marketing

Jun 18, 2019, 16:04 PM IST
China's May industrial output growth cools to 17-year low as trade war bites

China's May industrial output growth cools to 17-year low as trade war bites

Industrial output grew 5.0 percent in May from a year earlier, data from the National Bureau of Statistics showed on Friday, missing analysts` expectations of 5.5% and well below April`s 5.4%. It was

Jun 14, 2019, 16:13 PM IST
Brent oil rises for second day after Middle East tanker attacks

Brent oil rises for second day after Middle East tanker attacks

The attacks near Iran and the Strait of Hormuz pushed oil prices up as much as 4.5% on Thursday, putting the brakes on a slide in prices in recent weeks over concerns about global demand. US crude. 

Jun 14, 2019, 14:53 PM IST
US blames Iran for tanker attacks in Gulf of Oman, Iran rejects assertion

US blames Iran for tanker attacks in Gulf of Oman, Iran rejects assertion

Crude oil prices spiked more than 4% after the attacks near the entrance to the Strait of Hormuz, a crucial shipping artery for Saudi Arabia and other Gulf energy producers.

Jun 14, 2019, 10:07 AM IST
China led AIIB could overtake ADB as major financier of infra projects:Experts

China led AIIB could overtake ADB as major financier of infra projects:Experts

With China continuing its financial assertiveness across the globe through its various infrastructure projects like the One Belt One Road (OBOR) strategic initiative, the AIIB funding is the logical

Jun 13, 2019, 18:06 PM IST
OPEC cuts 2019 oil demand growth forecast, sees more downside risk

OPEC cuts 2019 oil demand growth forecast, sees more downside risk

World oil demand will rise by 1.14 million barrels per day this year, 70,000 bpd less than previously expected, the Organization of the Petroleum Exporting Countries said in a monthly report.

Jun 13, 2019, 17:46 PM IST
China launches Nasdaq-style tech board in Shanghai

China launches Nasdaq-style tech board in Shanghai

China`s top securities regulator Yi Huiman announced the new market at a financial forum in the city.

Jun 13, 2019, 10:09 AM IST
Google earned $4.7 billion in revenue from news in 2018: Study

Google earned $4.7 billion in revenue from news in 2018: Study

Google made this revenue via search and Google News, the study found.

Jun 11, 2019, 13:54 PM IST
Donald Trump targets India for imposing 50% tariff on US motorcycles

Donald Trump targets India for imposing 50% tariff on US motorcycles

Donald Trump claims that his one phone call to PM Narendra Modi got India to reduce tariff from 100% to 50% on Harley Davidson motorcycles. "Even this is not enough."

Jun 11, 2019, 06:39 AM IST
Pakistan to miss all key economic targets: Report

Pakistan to miss all key economic targets: Report

Livestock is the only sector with a positive story. Every other major sector - industrial, manufacturing, agricultural and service - is faring far below the intended targets.

Jun 09, 2019, 13:59 PM IST
Jeff Bezos buying prime Manhattan properties for $80mn

Jeff Bezos buying prime Manhattan properties for $80mn

The recently-divorced 55-year-old multi-billionaire is purchasing the top floors of a NoMad apartment building, the New York Post reported on Tuesday.

Jun 05, 2019, 15:15 PM IST
Nirmala Sitharaman to attend G-20 Finance Ministers' meeting in Japan

Nirmala Sitharaman to attend G-20 Finance Ministers' meeting in Japan

Besides Sitharaman, RBI Governor Shaktikanta Das is also likely to attend the meeting at Fukuoka in Japan.

Jun 05, 2019, 11:41 AM IST
10% drop in H1B visa approvals in 2018: US authorities

10% drop in H1B visa approvals in 2018: US authorities

The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.

Jun 05, 2019, 11:28 AM IST
Oil drops 1%, set for biggest monthly fall since November as trade wars spreads

Oil drops 1%, set for biggest monthly fall since November as trade wars spreads

Front-month Brent crude futures, the international benchmark for oil prices, were at $65.97 at 0639 GMT, down by 90 cents, or 1.4%, from last session`s close.

May 31, 2019, 14:00 PM IST