KCCI demands restoration of six-day working week

The News - Friday 17th May, 2013

KARACHI: Haroon Agar, president of the Karachi Chamber of Commerce and Industry (KCCI), has demanded the government to restore six-day working week in banks, customs and ports for larger interest of commerce and industry. In a statement issued on Friday, he expressed concern over two weekly holidays for all government departments and its affiliated institutions in the name of energy ...

Mango exports reflect soft countrys image

The News - Friday 17th May, 2013

ISLAMABAD: "Mango exports reflect Pakistan's soft image across the world that can help us overcome unnecessary criticism," Ahmad Jawad, CEO of Harvest Trading, said in a statement released on Friday. He said that the Ministry of commerce and Pakistan Horticulture Development and Export Company should lay down a comprehensive plan and overcome obstacles. He suggested that from the ...

ITC posts first profit in non-tobacco FMCG business

Times Of India - Friday 17th May, 2013

non-tobacco FMCG business of the diversified conglomerate posted first profit since its inception 10 years back - registering a profit of Rs 11.87 crore in Q4 from a loss of Rs 16.68 crore in the year-ago period. This, along with tobacco and agri business, fuelled the company's profit after tax to Rs 1,927 crore from Rs 1,614 crore in the quarter ended March 31, 2012. The net profit for ...

Toyota FT86 On Display At The Mall

Bru Direct - Friday 17th May, 2013

Bandar Seri Begawan - Toyota sports car FT86 is currently on display at The Mall, Gadong for this weekend. Organised by NBT Sdn Bhd, the main distributor of Toyota in the country, there are sales personnel to information regarding FT86. The Toyota 86, a new breed of sports car from Toyota, reflects the name ofAE86, a model well-known and loved by customers globally. The raw power of the ...

Shangri-La opens at the Bosphorus.

4Hoteliers - Friday 17th May, 2013

Istanbul welcomes its newest luxury hotel this week with the opening of the Shangri-La Bosphorus, Istanbul on 11 May; the opulent 186-room hotel is the second in Europe for Shangri-La Hotels and Resorts, which hails from the other city where East famously meets West, Hong ...

Bill Gates reclaims ‘world’s richest’ title from Slim

Times of India - Friday 17th May, 2013

Slim’s America Movil, the largest mobile-phone operator in the Americas, has dropped 14% this year after Mexico’s Congress passed a bill that could quash the billionaire’s market ...

Japan FTA widening trade deficit government says

Times Of India - Friday 17th May, 2013

IPL is not a quiet & sober brand. It is loud and sensational. Controversies like these only add to the excitement, IPL will get louder with more gossip, says Koshy, IIM ...

Skoda to phase out Fabia exit small car segment

Times Of India - Friday 17th May, 2013

Skoda is all set to phase out the struggling compact car Fabia after five years of launch as it looks to cut loss arising out of poor sales and intense competition. Skoda's only model in the hatchback category never managed to catch the fancy of buyers despite the company slashing Fabia's price in October 2010. Skoda reduced price of the Fabia's diesel variant by over Rs 1 lakh ...

Companies cant exit road projects Finance ministry

Times Of India - Friday 17th May, 2013

finance ministry has shot down two crucial proposals from the highway ministry, allowing exit of developers from completed projects and replacing developers with new ones where projects have not taken off months after they were awarded. ...

Government attacks SPs rating outlook

Times Of India - Friday 17th May, 2013

NEW DELHI: The government on Friday shot back at Standard & Poor's reiteration of a possible downgrade of India's sovereign rating, going to the extent of questioning the agency's ...

Sanyo may cease to exist under Panasonic reorganization Nikkei

West Australian - Friday 17th May, 2013

(Reuters) - Sanyo Electric Co may cease to exist under a reorganization by Panasonic Corp that includes global jobs cuts, Nikkei reported on Friday.Panasonic will cut 90 percent of Sanyo's global workforce of about 2,500 in around three years, the daily reported.About 1,000 workers at Sanyo's headquarters will be reduced to around 100 this fiscal year, leaving just a skeleton crew for ...

Sony to name Chugai Pharmas CEO as chairman Nikkei

The West Australian - Friday 17th May, 2013

Chief Executive Osamu Nagayama as chairman, the Nikkei reported.Nagayama's appointment will be finalized on June 20 at a board meeting to be held immediately after a shareholders' meeting, the business daily said.Outgoing chairman Howard Stringer, who served as Sony's CEO between 2005 and 2012, will retire in June, the Japanese paper said. (Reporting by Aditi Shrivastava in ...

Yamaha aims double digit market share in current fiscal

NDTV - Friday 17th May, 2013

Last month, the government had pitched for a rating upgrade at a meeting with S&P citing steps taken by it to control a high fiscal deficit and revive ...

Forex reserves down $616.4m to $293.69bn

Times Of India - Friday 17th May, 2013

MUMBAI: The country's forex reserves slipped for the second consecutive week, dipping by USD 616.4 million to USD 293.69 billion on a fall in currency assets, the Reserve Bank said today. The total reserves had slumped by USD 2.06 billion to USD 294.31 billion in the previous reporting week. Foreign currency assets, a major component of the forex reserves, were down by USD 568.1 million to ...

Re edges down tracking broad dollar gains

Times Of India - Friday 17th May, 2013

rupee weakened on Friday on the back of a broad rally in the dollar versus major currencies, but gains in domestic shares limited a sharp sell-off. The dollar rose against a basket of currencies on Friday, hovering near a 10-month high as debate over whether the Federal Reserve would wind down its asset buying programme later this year gathered pace. Traders said there was good dollar demand ...

Gold slips below Rs 26k per 10 gm in futures trade

Times Of India - Friday 17th May, 2013

NEW DELHI: Continuing its slide, gold slipped below Rs 26,000 per 10 gm in the futures market today as speculators engaged in reducing positions, tracking a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in June fell by Rs 156, or 0.60 per cent, to Rs 25,975 per 10 gm in business turnover of 21,223 lots. Similarly, the yellow metal for delivery in the August contract ...

Bank of Japans policy easing – it works

FXstreet - Friday 17th May, 2013

Japanese kick-start of the economy has succeeded - GDP growth jumped in Q1 and the outlook for coming quarters remains strong. FOMC member is once again putting QE exit on the agenda, we expect tapering to start this year. Swedish inflation data raise the risk of a rate cut in July. Chinese recovery remains fragile and has lost momentum but so far no severe deceleration in growth. We have lifted ...