Provides the latest RSS feeds for Asia Business News. For more headlines on Breaking, National, Business, Finance, Sports and World News, visit our home page India Gazette.com http://www.indiagazette.com/index.php/cat/5e8a9e9456185a7e/ en-us Wed, 22 May 2013 11:21:55 -0400 Wed, 22 May 2013 11:21:55 -0400 30 KUALA LUMPUR: AirAsia, Asia's largest low-cost carrier by fleet size, said Wednesday that first-quarter net profit fell 39 per cent year-on-year due to ... http://www.indiagazette.com/index.php/sid/214688063/scat/5e8a9e9456185a7e Wed, 22 May 2013 09:01:53 -0400 http://www.indiagazette.com/index.php/sid/214688063/scat/5e8a9e9456185a7e Stock markets aren't straying too far from unchanged this morning, as traders await an important appearance from Federal Reserve Chairman Ben Bernanke later today. U.S. stock futures are just slightly in positive territory, though European markets are a little in the red. In Asia overnight, Japanese equities were again outperforming most other markets, with the Nikkei rising 1.6 per cent to ... http://www.indiagazette.com/index.php/sid/214686678/scat/5e8a9e9456185a7e Wed, 22 May 2013 08:06:44 -0400 http://www.indiagazette.com/index.php/sid/214686678/scat/5e8a9e9456185a7e Members are registered users on Timesofindia.com. Only they are qualified to earn badges and points for their activities. So register and get a badge right ... http://www.indiagazette.com/index.php/sid/214686679/scat/5e8a9e9456185a7e Wed, 22 May 2013 07:51:03 -0400 http://www.indiagazette.com/index.php/sid/214686679/scat/5e8a9e9456185a7e "I am mystified how Amartya Sen can attribute a precise number of child deaths to the absence of a policy that has not been in place for a single day," writes Swaminathan S Anklesaria ... http://www.indiagazette.com/index.php/sid/214686680/scat/5e8a9e9456185a7e Wed, 22 May 2013 07:51:02 -0400 http://www.indiagazette.com/index.php/sid/214686680/scat/5e8a9e9456185a7e CHENNAI: The entry of private banks with high efficiency operating models, deployment of integrated technology platforms, new risk paradigms and above all, the emergence of highly demanding customer segments have all contributed to transformation in the banking sphere, according to the recently released ICC-KPMG Banking report. "We believe that for India to achieve ... http://www.indiagazette.com/index.php/sid/214686681/scat/5e8a9e9456185a7e Wed, 22 May 2013 07:51:00 -0400 http://www.indiagazette.com/index.php/sid/214686681/scat/5e8a9e9456185a7e NEW DELHI: Around 86 per cent of Indian businesses want more tax guidance from tax authorities on the issue of acceptable and unacceptable tax planning, even if it means paying more, says a study. According to Grant ... http://www.indiagazette.com/index.php/sid/214686682/scat/5e8a9e9456185a7e Wed, 22 May 2013 07:51:00 -0400 http://www.indiagazette.com/index.php/sid/214686682/scat/5e8a9e9456185a7e There were no major surprises in connection with today's Bank of Japan (BoJ) meeting and the market impact should be neutral. The expansion of the monetary base (now the main policy instrument) was maintained at JPY60- 70trn. In addition BoJ as expected upgraded its view of the economy and now believes that the economy has started to ... http://www.indiagazette.com/index.php/sid/214686683/scat/5e8a9e9456185a7e Wed, 22 May 2013 07:37:42 -0400 http://www.indiagazette.com/index.php/sid/214686683/scat/5e8a9e9456185a7e Just Dial was over-subscribed by 1.94 times on the last of issue on Wednesday. The Rs 950-crore IPO, the biggest issue so far this year, received bids for over 2.63 crore shares, against 1.35 crore shares on offer, data available on the NSE till 1300 hrs showed. The qualified institutional buyers (QIBs) category has been subscribed 89%, while non-institutional investors portion saw one% ... http://www.indiagazette.com/index.php/sid/214684670/scat/5e8a9e9456185a7e Wed, 22 May 2013 05:34:33 -0400 http://www.indiagazette.com/index.php/sid/214684670/scat/5e8a9e9456185a7e P Chidambaram on Wednesday said there are regulatory gaps and efforts are being made to frame a new law to oversee financial sector. "The present arrangements have a number of gap areas, where no regulators are unambiguously in-charge, such as issue of regulatory oversight over diverse Ponzi schemes that we have discovered recently. These are cleverly designed to be out of the purview of ... http://www.indiagazette.com/index.php/sid/214684671/scat/5e8a9e9456185a7e Wed, 22 May 2013 05:34:32 -0400 http://www.indiagazette.com/index.php/sid/214684671/scat/5e8a9e9456185a7e Larsen and Toubro Ltd (L&T) posted a worse-than-expected 6.9 percent fall in quarterly profit as interest costs jumped for India's biggest engineering and construction company. Net profit fell to 17.88 billion rupees for its fiscal fourth quarter ending March, from 19.2 billion rupees it reported a year earlier, said the company, whose interests span shipbuilding to railways to real ... http://www.indiagazette.com/index.php/sid/214683631/scat/5e8a9e9456185a7e Wed, 22 May 2013 04:27:34 -0400 http://www.indiagazette.com/index.php/sid/214683631/scat/5e8a9e9456185a7e Tech Mahindra on Wednesday surged nearly 8% after the software exporter reported 24.7% jump in net profit for the fourth quarter ended March, 2013. After making a positive opening, shares of the company further jumped 7.70% to Rs 979.85 on the BSE. At NSE, the stock zoomed up by 7.64% to Rs ... http://www.indiagazette.com/index.php/sid/214683632/scat/5e8a9e9456185a7e Wed, 22 May 2013 04:27:33 -0400 http://www.indiagazette.com/index.php/sid/214683632/scat/5e8a9e9456185a7e Oil and Natural Gas Corp , on Wednesday reported an over 44 per cent jump in net profit for 2012-13 fiscal on the back of higher gas production. Net profit in 2012-13 at Rs 3,929 crore was 44.4 per cent higher than Rs 2,721 crore in the previous fiscal, the company said in a ... http://www.indiagazette.com/index.php/sid/214683633/scat/5e8a9e9456185a7e Wed, 22 May 2013 04:27:32 -0400 http://www.indiagazette.com/index.php/sid/214683633/scat/5e8a9e9456185a7e (1 min ago) Stocks in Hong Kong closed down 0.45 percent despite a strong lead from Wall Street, as dealers awaited testimony by US Federal Reserve chairman Ben Bernanke on the economic outlook. The benchmark Hang Seng Index lost 105.29 points to 23,261 on turnover of HK$52.41 billion. Trading began in the city todat at 1pm after a delay over a severe rainstorm warning. Stocks in Shanghai ... http://www.indiagazette.com/index.php/sid/214683634/scat/5e8a9e9456185a7e Wed, 22 May 2013 04:20:07 -0400 http://www.indiagazette.com/index.php/sid/214683634/scat/5e8a9e9456185a7e Mark Templin, Executive Vice President at Lexus said the luxury carmaker doesn't run its global business based on fluctuations in exchange ... http://www.indiagazette.com/index.php/sid/214682699/scat/5e8a9e9456185a7e Wed, 22 May 2013 03:24:05 -0400 http://www.indiagazette.com/index.php/sid/214682699/scat/5e8a9e9456185a7e On top of a slowdown in Australia's lucrative mining sector, consumer sentiment in the country appears to have deteriorated sharply, posing a challenge to the central bank which cut interest rates to a record low earlier this month. ... http://www.indiagazette.com/index.php/sid/214682700/scat/5e8a9e9456185a7e Wed, 22 May 2013 03:24:04 -0400 http://www.indiagazette.com/index.php/sid/214682700/scat/5e8a9e9456185a7e Sony lowered its sales target for digital cameras to 1.3 trillion yen ($12.7 billion) for the fiscal year to end-March 2015, from a previous estimate of 1.5 trillion yen. Sony also cut its sales target for smartphones and tablets to 1.5 trillion yen in its 2014 fiscal year from an earlier outlook of 1.8 trillion yen. ... http://www.indiagazette.com/index.php/sid/214682701/scat/5e8a9e9456185a7e Wed, 22 May 2013 03:24:03 -0400 http://www.indiagazette.com/index.php/sid/214682701/scat/5e8a9e9456185a7e Reset TOKYO (May 22): The Nikkei average climbed 1.6 percent to a fresh 5-1/2-year high on Wednesday, spurred on by the Bank of Japan's optimism about the economic outlook, while Sony Corp surged on reports it may consider a proposal to spin off its entertainment assets. Earlier in the day, the Bank of Japan kept policy steady as widely expected, and upgraded its assessment of the ... http://www.indiagazette.com/index.php/sid/214682702/scat/5e8a9e9456185a7e Wed, 22 May 2013 03:20:58 -0400 http://www.indiagazette.com/index.php/sid/214682702/scat/5e8a9e9456185a7e Louis Vuitton is losing ground as the world’s most valuable luxury brand as competitors including Gucci and Prada gain, a new research report ... http://www.indiagazette.com/index.php/sid/214682703/scat/5e8a9e9456185a7e Wed, 22 May 2013 03:20:10 -0400 http://www.indiagazette.com/index.php/sid/214682703/scat/5e8a9e9456185a7e (37 mins ago) Stocks in Tokyo climbed 1.60 percent to close at their highest level in more than five years with investor appetite unabated on a weak yen and record-setting levels on Wall Street. The benchmark Nikkei 225 index gained 246.24 points to 15,627.26, the best finish since late December 2007, while the Topix index of all first-section issues was up 0.44 percent, or 5.64 points, at ... http://www.indiagazette.com/index.php/sid/214682704/scat/5e8a9e9456185a7e Wed, 22 May 2013 03:12:58 -0400 http://www.indiagazette.com/index.php/sid/214682704/scat/5e8a9e9456185a7e (29 mins ago) Stocks in Hong Kong opened up 0.18 percent after the start of trading was delayed by a severe rainstorm warning, and following a strong lead from the US and Europe. The benchmark Hang Seng Index rose 41.03 points to 23,407.4 in the first minutes of trade, with the market awaiting testimony to Congress from US Federal Reserve chief Ben Bernanke later in the ... http://www.indiagazette.com/index.php/sid/214681738/scat/5e8a9e9456185a7e Wed, 22 May 2013 02:06:07 -0400 http://www.indiagazette.com/index.php/sid/214681738/scat/5e8a9e9456185a7e QANTAS is underpaying flight staff and importing human rights violations, the Transport Workers' Union (TWU) says. Shouting slogans that included "What's outrageous? Unsafe wages" and "Human rights on every flight", about 60 TWU members converged on Darwin International Airport on Wednesday. The union is holding its annual council meeting in Darwin this week and the ... http://www.indiagazette.com/index.php/sid/214681739/scat/5e8a9e9456185a7e Wed, 22 May 2013 01:47:19 -0400 http://www.indiagazette.com/index.php/sid/214681739/scat/5e8a9e9456185a7e If you’re the type of person who wants to get off the beaten tourist path without sacrificing luxury and comfort in the process, Shangri-La Haikou is for you. The capital of Hainan Island, China's smallest province, Haikou is a new tourist destination that few Western travellers have discovered. As a result, there is little infrastructure for English speaking visitors… but if ... http://www.indiagazette.com/index.php/sid/214680733/scat/5e8a9e9456185a7e Wed, 22 May 2013 01:22:56 -0400 http://www.indiagazette.com/index.php/sid/214680733/scat/5e8a9e9456185a7e was conducted in the week the Labor government delayed a long-promised return to a budget surplus. The government blamed a stubbornly high Australian dollar and lower commodity prices for a dramatic fall in revenues. It also came after the Reserve Bank of ... http://www.indiagazette.com/index.php/sid/214680749/scat/5e8a9e9456185a7e Wed, 22 May 2013 01:08:42 -0400 http://www.indiagazette.com/index.php/sid/214680749/scat/5e8a9e9456185a7e Alan Bowman, Regional VP for Interactive Entertainment Business at Microsoft Asia Pacific, explains why the company thinks its new game console product can take a bigger space in consumers' living ... http://www.indiagazette.com/index.php/sid/214680728/scat/5e8a9e9456185a7e Wed, 22 May 2013 01:08:40 -0400 http://www.indiagazette.com/index.php/sid/214680728/scat/5e8a9e9456185a7e exchange rate policy remains Singapore's most potent tool against inflation, its government is relying more on special policy tools to nip bubbles in the bud before they form. The use of such macroprudential policies, including the recent property cooling measures, is becoming increasingly important in an era of cheap money, said Monetary Authority of Singapore (MAS) managing director Ravi ... http://www.indiagazette.com/index.php/sid/214680750/scat/5e8a9e9456185a7e Wed, 22 May 2013 01:07:17 -0400 http://www.indiagazette.com/index.php/sid/214680750/scat/5e8a9e9456185a7e Japan's central bank pledged Wednesday to maintain its ambitious quantitative easing program, saying that economic conditions in the country are ... http://www.indiagazette.com/index.php/sid/214680751/scat/5e8a9e9456185a7e Wed, 22 May 2013 01:01:55 -0400 http://www.indiagazette.com/index.php/sid/214680751/scat/5e8a9e9456185a7e (21 mins ago) Tokyo stocks maintained early gains and were up 1.12 percent in early afternoon trade after the Bank of Japan made its widely-expected announcement of no new easing measures. The benchmark Nikkei 225 index was up 171.79 points at 15,552.81 soon after the afternoon session started while the Topix index of all first-section issues was up 0.72 percent, or 9.12 points, at 1,279.51, ... http://www.indiagazette.com/index.php/sid/214680752/scat/5e8a9e9456185a7e Wed, 22 May 2013 00:57:57 -0400 http://www.indiagazette.com/index.php/sid/214680752/scat/5e8a9e9456185a7e (1 hr 4 mins ago) Japan's central bank says the world's third-biggest economy is "picking up'' as demand recovers in other countries and remains resilient at home. The Bank of Japan ended a policy meeting on Wednesday with no change to its strategy of doubling the monetary base for the sake of reaching a 2 percent inflation target and jolting the economy out of two ... http://www.indiagazette.com/index.php/sid/214680744/scat/5e8a9e9456185a7e Wed, 22 May 2013 00:57:36 -0400 http://www.indiagazette.com/index.php/sid/214680744/scat/5e8a9e9456185a7e LOS ANGELES (MarketWatch) -- The Bank of Japan raised its economic assessment at the end of its two-day meeting on Wednesday, while holding its policy ... http://www.indiagazette.com/index.php/sid/214680753/scat/5e8a9e9456185a7e Wed, 22 May 2013 00:53:19 -0400 http://www.indiagazette.com/index.php/sid/214680753/scat/5e8a9e9456185a7e Tech Mahindra said its March-quarter consolidated net profit rose 24.4 per cent to Rs 377 crore. The results came out after the close of markets on ... http://www.indiagazette.com/index.php/sid/214679708/scat/5e8a9e9456185a7e Wed, 22 May 2013 00:06:44 -0400 http://www.indiagazette.com/index.php/sid/214679708/scat/5e8a9e9456185a7e The Bank of Japan (BoJ) on Wednesday held off fresh easing measures, saying after a two-day policy meeting that its continuation of steps introduced last month would help Japan overcome ... http://www.indiagazette.com/index.php/sid/214679709/scat/5e8a9e9456185a7e Tue, 21 May 2013 23:58:54 -0400 http://www.indiagazette.com/index.php/sid/214679709/scat/5e8a9e9456185a7e Tue May 21, 2013 11:00pm EDT Singapore banks' shares may be near the end of their rally as their first-quarter results represent a short-term top and business activity is expected to cool off in the coming quarters, said Macquarie Equities Research. "We believe the rally in Singapore bank stocks is looking tired and we would look to pare down holdings at current levels," Macquarie ... http://www.indiagazette.com/index.php/sid/214679711/scat/5e8a9e9456185a7e Tue, 21 May 2013 23:00:38 -0400 http://www.indiagazette.com/index.php/sid/214679711/scat/5e8a9e9456185a7e Kyle Bass hopes he is wrong, and so may everyone else, as the danger predicted by the founder of Dallas-based Hayman Capital is nothing less than a full blown financial crisis in the world's third-largest economy, Japan. While the hedge-fund trade of the year has been to short the yen and buy Japanese stocks placed for an export boom, Mr. Bass sees in "Abenomics" - stimulus from ... http://www.indiagazette.com/index.php/sid/214678650/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:50:00 -0400 http://www.indiagazette.com/index.php/sid/214678650/scat/5e8a9e9456185a7e At the end of March, China's newly installed premier Li Keqiang publicly reiterated the government's determination to rein in rising property prices and a resurgent investment binge in the country's real estate market. But by every measure the market continued to boom in April, with prices, sales and investment in new buildings all accelerating from March. New house prices in 70 ... http://www.indiagazette.com/index.php/sid/214678649/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:49:59 -0400 http://www.indiagazette.com/index.php/sid/214678649/scat/5e8a9e9456185a7e ISLAMABAD: Imports and exports of goods in Pakistan have fallen, according to the Pakistan Bureau of Statistics (PBS), which reflect a contracting economy in FY13. Imports of petroleum and its products amounted to $12.36 billion between July 2012 and April 2013 as compared to the same period in the preceding fiscal year. The data released by the PBS also shows import of petroleum products rose by ... http://www.indiagazette.com/index.php/sid/214678658/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:31 -0400 http://www.indiagazette.com/index.php/sid/214678658/scat/5e8a9e9456185a7e LAHORE: Johnson & Johnson Pakistan (Pvt) Limited has decided to wrap up its operations in Pakistan, according to industry sources. However, the company has refused to comment on the issue as yet. The American pharmaceutical giant listed on the New York Stock Exchange is the fifth pharmaceutical multinational to decide to end the operations of its subsidiary in Pakistan in the past few years. ... http://www.indiagazette.com/index.php/sid/214678657/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:31 -0400 http://www.indiagazette.com/index.php/sid/214678657/scat/5e8a9e9456185a7e KARACHI: Khalid Mansoor has joined Hub Power Company Limited (Hubco) as Chief Executive. In a meeting held on May 20 in Karachi, the company's board of directors appointed him Chief Executive with immediate effect. Previously, Mansoor served as the Chief Executive Officer of Algeria Oman Fertilizer Company. Before that, he served as President and Chief Executive Officer of Engro Fertilizers ... http://www.indiagazette.com/index.php/sid/214678660/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:30 -0400 http://www.indiagazette.com/index.php/sid/214678660/scat/5e8a9e9456185a7e KARACHI: The Federal Board of Revenue (FBR) has suggested that the government should impose tax on the inflows of foreign exchange through remittances, as exemptions allowed have been grossly misused, official sources said on Tuesday. The tax managers have reiterated their demand to bring these transactions into the tax net as huge amount was returned to Pakistan that was sent aboard through ... http://www.indiagazette.com/index.php/sid/214678659/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:30 -0400 http://www.indiagazette.com/index.php/sid/214678659/scat/5e8a9e9456185a7e KARACHI: The Pak-US Chamber of Commerce announced to host the first Pakistan business, trade, and investment exhibition and conference in San Francisco, California in collaboration with the state of California and Events Unlimited in November 2013. "The state of California is officially supporting the two-day event," Mian Shahbaz, president of the chamber, told media from the US via a ... http://www.indiagazette.com/index.php/sid/214678655/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:29 -0400 http://www.indiagazette.com/index.php/sid/214678655/scat/5e8a9e9456185a7e LAHORE: Fake clearance certificates are being used to import potentially hazardous plastic scrap, reveal official documents available with The News. Customs authorities have unearthed the involvement of their own employees in securing the illegal release of a plastic scrap consignment of 19 tonnes. The consignment was imported by a local businessman from the UAE in April. Sources said fake ... http://www.indiagazette.com/index.php/sid/214678656/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:29 -0400 http://www.indiagazette.com/index.php/sid/214678656/scat/5e8a9e9456185a7e KARACHI: Basmati exports have declined by around 40 percent to 497,000 tons in the first 11 months of the ongoing fiscal year as compared to 834,000 tons achieved in the previous year, Rice Exporters Association of Pakistan (REAP) reported on Tuesday. "The signification increase in the cost of production has declined the exports," Jawed Ali Ghori, chairman of the association, said. He ... http://www.indiagazette.com/index.php/sid/214678653/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:28 -0400 http://www.indiagazette.com/index.php/sid/214678653/scat/5e8a9e9456185a7e I had the opportunity to lead an 80-member high-level business delegation of the Confederation of Indian Industry (CII) to Pakistan in May 2012 for the 2nd India-Pakistan Economic Conference, held as part of the Aman ki Asha peace campaign, jointly initiated by the Jang Group and the Times of India. We received a very warm welcome in Pakistan and were overwhelmed by the hospitality, generosity ... http://www.indiagazette.com/index.php/sid/214678654/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:28 -0400 http://www.indiagazette.com/index.php/sid/214678654/scat/5e8a9e9456185a7e LAHORE: Pakistan Business Council (PBC) Chairman Sikandar Mustafa Khan has said the transparent privatisation of public sector enterprises, such as the Pakistan Steel Mills (PSM), Pakistan Railways (PR) and Pakistan International Airlines (PIA), is necessary to ensure the path to economic recovery. The PBC chairman said there is a need to encourage local and foreign investments in Pakistan and ... http://www.indiagazette.com/index.php/sid/214678652/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:27 -0400 http://www.indiagazette.com/index.php/sid/214678652/scat/5e8a9e9456185a7e KARACHI: Agricultural credit disbursement by commercial banks surged by 15.74 percent on year-on-year basis to Rs259.1 billion in the first 10 months of the current fiscal year, the central bank revealed on Tuesday. Banks disbursed Rs223.8 billion to farmers during the same period last year, it said. Overall credit disbursement by five major commercial banks, including Allied Bank Limited, Habib ... http://www.indiagazette.com/index.php/sid/214678651/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:26 -0400 http://www.indiagazette.com/index.php/sid/214678651/scat/5e8a9e9456185a7e LAHORE: The Federal Board of Revenue (FBR) has moved a proposal to the ministry of finance through which withholding taxes rates may be enhanced in the coming budget. It has proposed an increase in withholding tax (WHT) of commercial imports from five percent to six percent; for the export sector from one percent to 1.5 percent; non-corporate exporters from one percent to two percent; on ... http://www.indiagazette.com/index.php/sid/214678663/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:26 -0400 http://www.indiagazette.com/index.php/sid/214678663/scat/5e8a9e9456185a7e KARACHI: Pakistan is expected to strengthen its position as a destination for foreign direct investment (FDI) in the years to come as analysts foresee the PML-N government carrying out a comprehensive reform agenda to create an environment conducive for investment. Pakistan witnessed a significant fall in foreign direct investment in the past five years with FDI inflows dropping from $5.4 billion ... http://www.indiagazette.com/index.php/sid/214678665/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:25 -0400 http://www.indiagazette.com/index.php/sid/214678665/scat/5e8a9e9456185a7e KARACHI: Perpetual power outages have caused Pakistan's economy to underperform in the last few years. According to Pakistan Energy Yearbook released by the Ministry of Petroleum and Natural Resources, the country's installed generation capacity stood at 22,797 MW by the end of FY12, up by 1.4 percent from last fiscal and 17 percent against FY08. However, several factors, including ... http://www.indiagazette.com/index.php/sid/214678664/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:25 -0400 http://www.indiagazette.com/index.php/sid/214678664/scat/5e8a9e9456185a7e LAHORE: Pakistan Tanners Association-central (PTA) has expressed concern over expected rise in withholding taxes. In a release Tuesday, the Federal Bureau of Revenue (FBR) has once again moved a proposal to the ministry of finance that withholding tax rates (WHT) may be enhanced in coming budget. FBR has proposed increase in WHT of commercial imports from five percent to six percent, for export ... http://www.indiagazette.com/index.php/sid/214678662/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:24 -0400 http://www.indiagazette.com/index.php/sid/214678662/scat/5e8a9e9456185a7e LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) expressed concerns over the performance of Lahore Electric Supply Company's (Lesco) board of directors and called for its reconstitution through a transparent mechanism. In a statement issued on Tuesday, LCCI President Farooq Iftikhar said that it was unfortunate that the Ministry of Water and Power, Lesco officials and political ... http://www.indiagazette.com/index.php/sid/214678661/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:24 -0400 http://www.indiagazette.com/index.php/sid/214678661/scat/5e8a9e9456185a7e Karachi: Faysal Bank Limited recently launched the first ever Shariah-compliant Barkat UnionPay Debit Card in Pakistan. This launch furthers the Bank's aggressive growth strategy for its Barkat Islamic Banking, and makes it the only Islamic Banking platform globally, offering both VISA and UnionPay debit cards under Shariah principles. UnionPay is one of the fastest growing payment ... http://www.indiagazette.com/index.php/sid/214678672/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:23 -0400 http://www.indiagazette.com/index.php/sid/214678672/scat/5e8a9e9456185a7e State Life Insurance Corporation (SLIC) and First Women Bank Limited (FWBL) signed an agreement to sell insurance products under Bancassurance. This will include a unique gender specific product focusing on women. SLIC is the leading insurance corporation of Pakistan with the highest market share in its industry, as well as the largest network of outlets. FWBL is the only Bank in Pakistan setup ... http://www.indiagazette.com/index.php/sid/214678671/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:22 -0400 http://www.indiagazette.com/index.php/sid/214678671/scat/5e8a9e9456185a7e The Karachi Stock Exchange's (KSE) benchmark 100-share index increased by 353.86 points on Tuesday to reach a new all-time high of 21,168.00, reacting positively to the heavy mandate of the PML-N government. "Investors are hopeful that the Pakistan Muslim League-Nawaz-led government will pursue privatisation aggressively," said Arif Habib, CEO and chairman of Arif Habib ... http://www.indiagazette.com/index.php/sid/214678669/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:22 -0400 http://www.indiagazette.com/index.php/sid/214678669/scat/5e8a9e9456185a7e WASHINGTON: Apple denied Tuesday using "gimmicks" to dodge taxes as the tech giant came under attack from US lawmakers for using "sham" subsidiaries and "convoluted" strategies to shift profits offshore. In a statement issued ahead of a Senate hearing on corporate strategies to minimize taxes, Apple said it "carefully manages its foreign cash holdings to support ... http://www.indiagazette.com/index.php/sid/214678670/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:22 -0400 http://www.indiagazette.com/index.php/sid/214678670/scat/5e8a9e9456185a7e The Karachi Port and Port Qasim handled a cargo volume of 239,618 tons during the last 24 hours that included 170,490 tons of imports and 69,128 tons of exports, the two ports reported on Tuesday. Accordingly, the Karachi Port handled imports, including containerised cargo (44,829 tons), bulk cargo (9,275 tons), coal (17,971 tons), sulphur (50 tons), and oil / liquid cargo (34,729 tons). It also ... http://www.indiagazette.com/index.php/sid/214678668/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:21 -0400 http://www.indiagazette.com/index.php/sid/214678668/scat/5e8a9e9456185a7e Karachi The rupee slightly edged down against the dollar on Tuesday in the wake of fresh demand for the greenback in the currency market, dealers said. In the interbank market, the rupee closed at 98.45 against the dollar, down by two paisas as compared to Monday's closing of 98.43. The local currency was being traded at 98.44 for buying and 98.46 for selling. The interbank forex market ... http://www.indiagazette.com/index.php/sid/214678667/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:21 -0400 http://www.indiagazette.com/index.php/sid/214678667/scat/5e8a9e9456185a7e Singapore Gold climbed off session lows on Tuesday as Chinese buyers picked up the metal, easing some pressure on bullion which has been hit by persistent outflows from exchange-traded funds and has lost nearly a fifth of its value this year. But the selling pressure on silver appeared mostly intact with prices still near 2-1/2-year lows reached during the intraday sell-off on Monday. Gold has ... http://www.indiagazette.com/index.php/sid/214678666/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:20 -0400 http://www.indiagazette.com/index.php/sid/214678666/scat/5e8a9e9456185a7e Karachi Though not significant, however, the trade turnover of cotton surprisingly surged to 5,900 bales (155 kilograms each) during the last 24 hours as compared to no or little trade in the last 15 days, a dealer said on Tuesday. "Spinning mill-owners and exporters have reentered into the cotton markets after they received fresh order for export of cotton and cotton yarn," Taqi Abbas, ... http://www.indiagazette.com/index.php/sid/214678673/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:20 -0400 http://www.indiagazette.com/index.php/sid/214678673/scat/5e8a9e9456185a7e Chennai Brent crude futures steadied near a two-week high on Tuesday, holding around $105 per barrel as rising Middle East tensions offset concerns about moderating demand growth to keep prices in a tight range. Reports that Lebanese Hezbollah guerrillas were involved in fierce fighting for Syria's embattled president prompted alarm the civil war might spread to neighbouring oil producers, ... http://www.indiagazette.com/index.php/sid/214678674/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:41:19 -0400 http://www.indiagazette.com/index.php/sid/214678674/scat/5e8a9e9456185a7e HONG KONG (MarketWatch) -- Japanese stocks rallied toward fresh multiyear highs to lead broad gains for Asian markets Wednesday, as indications that the Federal Reserve Bank wasn't close to slowing its asset purchases lifted investor ... http://www.indiagazette.com/index.php/sid/214678675/scat/5e8a9e9456185a7e Tue, 21 May 2013 22:33:54 -0400 http://www.indiagazette.com/index.php/sid/214678675/scat/5e8a9e9456185a7e The International Air Services Commission (IASC) has issued a range of determinations allowing and re-allocating capacity on a variety of routes. Qantas has been allocated 35 tonnes of freight capacity on the Papua New Guinea route and was re-allocated one dedicated cargo service per week on the Vietnam route. Qantas was also permitted a re-allocation of 2,301 seats on the China route. ... http://www.indiagazette.com/index.php/sid/214677713/scat/5e8a9e9456185a7e Tue, 21 May 2013 21:40:56 -0400 http://www.indiagazette.com/index.php/sid/214677713/scat/5e8a9e9456185a7e Few foreign activist investors have made much headway in forcing change in Japan, where a conservative corporate culture favors long-standing ties with banks, business partners and workers rather than shareholders seeking value. Struggling electronics ... http://www.indiagazette.com/index.php/sid/214677714/scat/5e8a9e9456185a7e Tue, 21 May 2013 21:39:33 -0400 http://www.indiagazette.com/index.php/sid/214677714/scat/5e8a9e9456185a7e TOKYO (Reuters) - Japan's exports rose less than expected in April from a year earlier due to weak demand from Europe and China, highlighting the challenges confronting the world's third-biggest economy as policymakers try to engineer a sustained ... http://www.indiagazette.com/index.php/sid/214677695/scat/5e8a9e9456185a7e Tue, 21 May 2013 21:26:48 -0400 http://www.indiagazette.com/index.php/sid/214677695/scat/5e8a9e9456185a7e HONG KONG (MarketWatch) -- Japanese stocks extended gains early Wednesday, with exporters spurred after two Federal Reserve members suggested the central bank wasn't close to slowing monetary stimulus in the U.S. The Nikkei Stock ... http://www.indiagazette.com/index.php/sid/214677716/scat/5e8a9e9456185a7e Tue, 21 May 2013 21:24:46 -0400 http://www.indiagazette.com/index.php/sid/214677716/scat/5e8a9e9456185a7e Toyota Motor Manufacturing Texas is supporting the San Antonio Hispanic Chamber's CORE4 STEM project to the tune of $100,000, it was announced this week. Patricia Salas Pineda, group vice president, National Philanthropy and Toyota Motor Manufacturing North America Inc. made the presentation to Hispanic Chamber CEO Ramiro Cavazos and the chamber's chairman of the board, Alexander ... http://www.indiagazette.com/index.php/sid/214676591/scat/5e8a9e9456185a7e Tue, 21 May 2013 20:34:11 -0400 http://www.indiagazette.com/index.php/sid/214676591/scat/5e8a9e9456185a7e To celebrate the opening of Shangri-La Hotels and Resorts’ new landmark hotel in the city of Istanbul, 2,000 lanterns were launched on the Bosphorus Strait. Located on the European side of the Bosphorus, the crossing point between two continents for centuries, Shangri-La Bosphorus, Istanbul is the second hotel in Europe for the Asian luxury hotel brand. More than 200 guests witnessed the ... http://www.indiagazette.com/index.php/sid/214676592/scat/5e8a9e9456185a7e Tue, 21 May 2013 20:34:04 -0400 http://www.indiagazette.com/index.php/sid/214676592/scat/5e8a9e9456185a7e Vinod Rai achieved his goal of focusing on corruption - but by making wild exaggerations, killing the institutional integrity of the CAG and triggering policy ... http://www.indiagazette.com/index.php/sid/214676593/scat/5e8a9e9456185a7e Tue, 21 May 2013 20:26:50 -0400 http://www.indiagazette.com/index.php/sid/214676593/scat/5e8a9e9456185a7e Vinod Rai achieved his goal of focusing on corruption - but by making wild exaggerations, killing the institutional integrity of the CAG and triggering policy ... http://www.indiagazette.com/index.php/sid/214676594/scat/5e8a9e9456185a7e Tue, 21 May 2013 20:26:49 -0400 http://www.indiagazette.com/index.php/sid/214676594/scat/5e8a9e9456185a7e Li Keqiang on Tuesday said that China was willing to launch talks for a regional trading arrangement with India, a statement seen as a fresh push for Beijing's attempt for a trade pact. Addressing business leaders at a conference organized by Ficci here, the premier said that ... http://www.indiagazette.com/index.php/sid/214676595/scat/5e8a9e9456185a7e Tue, 21 May 2013 20:26:48 -0400 http://www.indiagazette.com/index.php/sid/214676595/scat/5e8a9e9456185a7e NASDAQ traded symbols and their current financial status. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is at least 60-minutes delayed. All quotes are in local exchange ... http://www.indiagazette.com/index.php/sid/214676598/scat/5e8a9e9456185a7e Tue, 21 May 2013 20:15:59 -0400 http://www.indiagazette.com/index.php/sid/214676598/scat/5e8a9e9456185a7e TOKYO, May 22 (Reuters) - Japan's Nikkei average climbed to a 5-1/2-year high on Wednesday, ahead of the outcome of the Bank of Japan meeting, buoyed by the U.S. Dow Jones and S&P 500 indexes closing at record highs. The Nikkei rose 0.5 percent to 15,455.37, its highest since December 2007, while the broader Topix gained 0.5 percent to ... http://www.indiagazette.com/index.php/sid/214676597/scat/5e8a9e9456185a7e Tue, 21 May 2013 20:03:44 -0400 http://www.indiagazette.com/index.php/sid/214676597/scat/5e8a9e9456185a7e TOKYO, May 22 (Reuters) - Japan's Nikkei average is likely to open higher on Wednesday, ahead of the outcome of the Bank of Japan meeting, buoyed by the U.S. Dow Jones and S&P 500 indexes closing at record highs on Federal Reserve officials' reassurance on the central bank's stimulus programme. The Nikkei is likely to trade between 15,350 and 15,550, strategists said, while Nikkei ... http://www.indiagazette.com/index.php/sid/214676596/scat/5e8a9e9456185a7e Tue, 21 May 2013 19:13:36 -0400 http://www.indiagazette.com/index.php/sid/214676596/scat/5e8a9e9456185a7e After rising to its highest level since 2008, the Nikkei traded sideways on Tuesday ahead oif the BOJ meeting tomorrow. The BOJ is not expected to alter policy after its enormous injection of stimulus at the April meeting. This makes BOJ Governor Kuroda's comments after the meeting at 0730 BST/ 0230 ET, even more important. Traders will be trying to gauge from Kuroda 1, the BOJ's view ... http://www.indiagazette.com/index.php/sid/214675374/scat/5e8a9e9456185a7e Tue, 21 May 2013 19:07:03 -0400 http://www.indiagazette.com/index.php/sid/214675374/scat/5e8a9e9456185a7e Federal Reserve presidents and sent the Dow Jones industrial average to its 22nd high of the year Tuesday. Regional Fed Presidents James Bullard ... http://www.indiagazette.com/index.php/sid/214676307/scat/5e8a9e9456185a7e Tue, 21 May 2013 18:57:14 -0400 http://www.indiagazette.com/index.php/sid/214676307/scat/5e8a9e9456185a7e Reuters © Bank of Japan Governor Haruhiko Kuroda arrives at the G7 Finance Ministers meeting in Aylesbury, southern England May 10, 2013. REUTERS/Alastair ... http://www.indiagazette.com/index.php/sid/214673948/scat/5e8a9e9456185a7e Tue, 21 May 2013 18:23:13 -0400 http://www.indiagazette.com/index.php/sid/214673948/scat/5e8a9e9456185a7e (Reuters) - Sony Corp is considering evaluating a proposal from top shareholder Third Point LLC to spin off part of its movie and music business, Japanese daily Nikkei ... http://www.indiagazette.com/index.php/sid/214671022/scat/5e8a9e9456185a7e Tue, 21 May 2013 16:45:11 -0400 http://www.indiagazette.com/index.php/sid/214671022/scat/5e8a9e9456185a7e China on Tuesday rejected allegations that its military hackers had resumed attacks on US companies and government agencies, branding such media reports as "irresponsible."It is neither professional nor responsible to make such reports, Chinese foreign ministry spokesman Hong Lei said on Tuesday, adding that cyber security is a global problem also threatening China.Although cyber ... http://www.indiagazette.com/index.php/sid/214669307/scat/5e8a9e9456185a7e Tue, 21 May 2013 15:48:21 -0400 http://www.indiagazette.com/index.php/sid/214669307/scat/5e8a9e9456185a7e LONDON: Britain has launched a campaign to attract more investment fund money to the country, with plans for tax breaks, cutting red tape and marketing campaigns in Asia and the Americas. In speeches to fund management executives on Tuesday afternoon, Treasury ministers Sajid Javid and Greg Clark said they aim to reverse a weakening of the UK's dominance as a centre for the funds industry. ... http://www.indiagazette.com/index.php/sid/214667638/scat/5e8a9e9456185a7e Tue, 21 May 2013 14:27:36 -0400 http://www.indiagazette.com/index.php/sid/214667638/scat/5e8a9e9456185a7e Tue May 21, 2013 12:44pm EDT WASHINGTON May 21 (Reuters) - Two executives at Japan's Denso Corp have agreed to plead guilty to conspiring to fix prices of electronic auto parts sold to Toyota and will cooperate with an ongoing criminal investigation, the U.S. Justice Department said on Tuesday. The settlement is the latest in a wide-ranging investigation into price fixing for a variety of car ... http://www.indiagazette.com/index.php/sid/214667656/scat/5e8a9e9456185a7e Tue, 21 May 2013 12:44:50 -0400 http://www.indiagazette.com/index.php/sid/214667656/scat/5e8a9e9456185a7e Tech Mahindra on Tuesday reported a 25 per cent increase in its consolidated net profit at Rs 377.24 crore for the quarter ended March 31, 2013. The company, part of the 15.9 billion ... http://www.indiagazette.com/index.php/sid/214662018/scat/5e8a9e9456185a7e Tue, 21 May 2013 09:44:17 -0400 http://www.indiagazette.com/index.php/sid/214662018/scat/5e8a9e9456185a7e on Tuesday slid by over 112 points to close at one-week low of 20,111.61, mainly due to profit booking in interest rate sensitive sectors including realty, auto and banking. ... http://www.indiagazette.com/index.php/sid/214660674/scat/5e8a9e9456185a7e Tue, 21 May 2013 08:32:58 -0400 http://www.indiagazette.com/index.php/sid/214660674/scat/5e8a9e9456185a7e THE TOYOTA Fleet of new models on display at the Clark Motor Speedway The streak continues for the country's No. 1 automotive firm. Toyota Motor Philippines (TMP) has recently posted a 33-percent increase in sales for the first four months of the year, compared to the same period last year. According to the latest Campi (Chamber of Automotive Manufacturer of the Philippines Inc.) report, ... http://www.indiagazette.com/index.php/sid/214660675/scat/5e8a9e9456185a7e Tue, 21 May 2013 08:13:45 -0400 http://www.indiagazette.com/index.php/sid/214660675/scat/5e8a9e9456185a7e Bullion traders say the refining of these impure gold bars will be a new line of business in India and jewellers may also look at setting up refineries to ensure a steady supply of the ... http://www.indiagazette.com/index.php/sid/214659481/scat/5e8a9e9456185a7e Tue, 21 May 2013 07:23:35 -0400 http://www.indiagazette.com/index.php/sid/214659481/scat/5e8a9e9456185a7e Qatar National Bank, one of the most acquisitive Gulf Arab lenders, will start operations in India in the third quarter of this year, the bank said on Tuesday, expanding its reach to Asia's third-largest economy. The state-owned bank, which has a presence in nearly 25 countries, said it had received all regulatory approvals to establish a fully-owned subsidiary under the name of QNB India ... http://www.indiagazette.com/index.php/sid/214658680/scat/5e8a9e9456185a7e Tue, 21 May 2013 06:32:47 -0400 http://www.indiagazette.com/index.php/sid/214658680/scat/5e8a9e9456185a7e Coal is literally hot commodity, with most of the country's power and electricity dependent on what is also called 'black gold'. Around 66 per cent of India's power generation is coal ... http://www.indiagazette.com/index.php/sid/214658444/scat/5e8a9e9456185a7e Tue, 21 May 2013 06:27:19 -0400 http://www.indiagazette.com/index.php/sid/214658444/scat/5e8a9e9456185a7e Takahiko Takabayashi (left) presenting the items to Mawutowu Kwesi Brese (right) with health officials. TOYOTA Ghana Company Limited has donated assorted items worth GH6,000 to the Kaneshie Polyclinic in Accra to refurbish the Tuberculosis and Human Immune Deficiency Virus Unit (TB/HIV). The items included 20 bags of cements, 20 packs of floor tiles, 10 gallons of oil and emulsion paint, a 32 ... http://www.indiagazette.com/index.php/sid/214658445/scat/5e8a9e9456185a7e Tue, 21 May 2013 06:19:43 -0400 http://www.indiagazette.com/index.php/sid/214658445/scat/5e8a9e9456185a7e (35 mins ago) Hong Kong stocks closed 0.54 percent lower on Tuesday after a dip on Wall Street ahead of the Federal Reserve chairman's testimony about the US economic outlook. The benchmark Hang Seng Index fell 126.66 points to 23,366.37 on turnover of HK$71.30 billion, AFP reports. Chinese shares closed up 0.22 percent. The benchmark Shanghai Composite Index rose 5.12 points to 2,305.11 ... http://www.indiagazette.com/index.php/sid/214657510/scat/5e8a9e9456185a7e Tue, 21 May 2013 05:01:11 -0400 http://www.indiagazette.com/index.php/sid/214657510/scat/5e8a9e9456185a7e Australia's dollar has received its fair share of whacking lately and perhaps it's time to give the currency a bit of a break, currency strategists say. The Aussie dollar has shed almost 5 percent in the past two weeks against the U.S. dollar, hurt by signs of weakness in the Australian and Chinese economies, broad strength in the greenback and a continued fall in commodity prices. It ... http://www.indiagazette.com/index.php/sid/214656588/scat/5e8a9e9456185a7e Tue, 21 May 2013 04:05:34 -0400 http://www.indiagazette.com/index.php/sid/214656588/scat/5e8a9e9456185a7e I spent one day in Detroit last week moderating a panel for a large Chinese industrial zone as well as for automakers. In the audience were CEOs and others seeking to understand trends in the automotive industry as they relates to China. It was a fascinating discussion. Interestingly, while many consider China as the home of low-cost production, senior executives from companies and government ... http://www.indiagazette.com/index.php/sid/214656587/scat/5e8a9e9456185a7e Tue, 21 May 2013 04:05:33 -0400 http://www.indiagazette.com/index.php/sid/214656587/scat/5e8a9e9456185a7e