Business

China says will provide economic aid to Pakistan but more talks needed

China says will provide economic aid to Pakistan but more talks needed They also expressed confidence that the process of industrial development of Pakistan will accelerate with the launch of special economic zones and the industrial parks. Unfortunately, as happens in the life span of countries, we lost our way and what affected Pakistan and stopped it from achieving its potential was corruption, he said. [Full Article...]

USA workers see highest wage growth since 2008

USA workers see highest wage growth since 2008 Strong annual wage growth mirrors other data published this week showing wages and salaries rising in the third quarter by the most since mid-2008. The Labor Department's closely watched monthly employment report on Friday is also expected to show the unemployment rate steady at a 49-year low of 3.7 percent. [Full Article...]

U.S. official denies report of possible China trade deal

The decision was roundly lambasted in Congress. "Bilateral tensions over strategic issues such as Taiwan, the South China Sea and the arms race will continue and may be at risk of escalating", he said. Hong Kong's Hang Seng index jumped 4.2 per cent, the SSE Composite rose 2.7 per cent and Toyko's Nikei gained 2.56 per cent as traders interpreted the call as... [Full Article...]

Here come Facebook's Q3 earnings... (FB)

Here come Facebook's Q3 earnings... (FB) The earnings report followed a hard 18 months for the firm, which has been under scrutiny for spreading disinformation, hate speech and leaks of user data. Despite Facebook's mixed performance, some marketers say Facebook is more important than ever to their digital strategies. Importantly, Facebook grew revenue at a nice pace in the important United States and Canada markets. [Full Article...]

Iranian oil - 40 years of revolution, war, sanctions and bans

Iranian oil - 40 years of revolution, war, sanctions and bans USA light crude CLc1 was 25 cents down at $65.93. Indian Oil Corporation ( IOC ) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have reportedly placed order for 1.25 MT of crude oil from Iran. But we are prepared to work with countries that are reducing their imports on a case-by-case basis. Meanwhile, Russia's crude and condensate output averaged 11.412 million bpd in October, accordi... [Full Article...]

Starbucks' Holiday Cups Have 4 New Designs: Which One Is Your Fave?

Starbucks' Holiday Cups Have 4 New Designs: Which One Is Your Fave? The calendar has turned to November and Starbucks is ready to unveil its new seasonal cups, treats and a cool initiative to get people on the reusable cup train. A new cup: Starbucks will also release a plastic holiday cup, which can be reused, USA Today reports . The result is 'not only retro, but true to who we are, ' Brewer said. [Full Article...]

Trump asks officials to draft possible trade deal with China

Trump asks officials to draft possible trade deal with China The two leaders agreed to "strengthen economic exchanges", said a ministry spokesman, Lu Kang. "Those discussions are moving along nicely", Trump wrote on Twitter. But Kudlow cautioned that Trump would "aggressively" pursue his agenda against China, if no deals were reached on intellectual property theft , cybersecurity and tariffs on commodities, among other issues. [Full Article...]

Rouhani: Iran does not fear new USA sanctions on energy, banking sectors

Rouhani: Iran does not fear new USA sanctions on energy, banking sectors US sanctions on Iran's energy exports come into force on November 4 and it is still unclear how much the country's roughly 3.8 mln bpd. production will affected. Currently, Iran provides its tankers as well as insurance for oil cargoes to India. "They're gutting President Trump's maximum pressure campaign", one senior congressional staffer briefed by administration officials on Iran and SWIFT ... [Full Article...]

Google employees walk out over sexual harassment, inequality and racism claims

Google employees walk out over sexual harassment, inequality and racism claims The protest, billed the " Walkout For Real Change", comes comes a week after The New York Times revealed that Andy Rubin - creator of Google's Android software - received a $90m severance package despite being sacked over accusations of sexual misconduct. [Full Article...]

U.S. stock indexes jump following big gains in Europe

U.S. stock indexes jump following big gains in Europe The S&P 500 is down 32.36 points, or 1.2 percent. Hong Kong's Hang Seng bucked the trend, slipping 0.9 per cent to 24,585.53. The Dow Jones Industrial Average slumped 245.39 points, or 1 percent, to 24,442.92. It recovered to 6.9599 per dollar later in the day. ANALYST'S TAKE: The optimism may be misplaced, said Jingyi Pan of IG. "This is not including the externalities. [Full Article...]

United States firms banned from supplying Chinese smartphone chip maker

United States firms banned from supplying Chinese smartphone chip maker The announcement follows increasing tensions between the USA and China. Derek Scissors, a China expert at the American Enterprise Institute, said the company was one of the country's potential national champions and is in a dispute with its main competitor, USA chipmaker Micron Technology Inc. [Full Article...]

Crude oil futures decline Monday as investors keep reducing oil exposure

Crude oil futures decline Monday as investors keep reducing oil exposure United States drillers added two oil rigs in the week to October 26, bringing the total count to 875, the highest level since March 2015, Baker Hughes energy services firm said on Friday . That's an increase of 10 million bpd since the start of the decade and means that these three producers alone now meet a third of global crude demand. [Full Article...]

Hyundai and Kia will outfit their cars with solar panels

Hyundai and Kia will outfit their cars with solar panels The transparent solar panels can be built into the roof of the vehicles and even provide additional electrical energy for fuel-driven cars. Hyundai and Kia will be the next brands to incorporate solar charging into their vehicles. [Full Article...]

United Kingdom to levy 2pc digital services tax against tech giants from 2020

United Kingdom to levy 2pc digital services tax against tech giants from 2020 The tax would come into effect in April 2020 following a consultation, Philip Hammond stated in his 2018 Autumn Budget yesterday (29 October). "Any idea that there is a serious desire to eliminate the deficit by the mid 2020s is surely for the birds", IFS director Paul Johnson said . [Full Article...]

Pakistan improves its ranking in World Bank's Doing Business Report 2019

Pakistan improves its ranking in World Bank's Doing Business Report 2019 On the other hand, it is still ranked low for enforcing contracts and paying taxes (90th in both categories). Addressing the media on the back of India's rise in Ease of Doing Business , Finance Minister Arun Jaitley lauded Department of Industrial Policy and Promotion (DIPP) for cracking the code by which countries are ranked. [Full Article...]

Urjit Patel may resign as Jaitley’s remarks widen RBI-govt rift

Urjit Patel may resign as Jaitley’s remarks widen RBI-govt rift Or in other words, the court pointed out that it could be used to force central bank to dilute its stricter bad loan rules for the power sector. Asked why all four Deputy Governors had come for the FSDC meeting, which is normally attended by one DG, a senior government official said that since the meeting had a long agenda covering various aspects, "it was proper for all four to come". [Full Article...]

Angela Merkel on the spot after painful regional vote

Angela Merkel on the spot after painful regional vote She later told press that she was stepping down as party leader was the first step towards a leadership transition. According to "multiple media reports", Merkel announced her intention to retire as the chief of the CDU. Sunday's voting followed a state election in Bavaria two weeks ago, in which the SPD and CSU also suffered major setbacks . Merkel's favoured successor is CDU party secretary... [Full Article...]

US economy grows faster than expected in Q3

US economy grows faster than expected in Q3 The US' GDP expanded by 2.5 per cent in the first quarter and by 4.2 per cent between April and June. The widening trade gap chopped off 1.78 percentage points from GDP growth in the third quarter. "The latest health check-up revealed an ageing but still robust United States economy", Oxford Economics said in an analytical note. Third quarter data marks the strongest back-to-back growth since ... [Full Article...]

Oil prices fall as Saudis warn of looming oversupply, global markets slump

Oil prices fall as Saudis warn of looming oversupply, global markets slump If U.S. production fails to grow at recent rates, it is far from clear that the world's two other oil superpowers, Russian Federation and Saudi Arabia , can pick up the slack. OPEC signaled Thursday it could cut output next year due to concerns about rising oil inventories and economic uncertainty, changing its position from just a few days ago of pumping flat out. [Full Article...]

IBM buys software company Red Hat for US$34b

IBM buys software company Red Hat for US$34b It also expects to use Red Hat's open source roots to its advantage - in theory, this encourages companies to move to the cloud when they'd otherwise be wary of being locked in. Red Hat has been in business since 1993 and has expanded its offerings from Linux to a number of open source middleware products. International Business Machines Corp. [Full Article...]


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