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Standard Chartered CEO predicts looming revenue challenge

LONDON: Standard Chartered Plc Chief Executive Officer Bill Winters expects erratic swings in global markets to continue for at least the rest of this year, complicating his efforts to reinvigorate earnings and restore the Asiafocused lender’s dividend. Reviving “depressed” revenue in the face of a sluggish economy and a slump [...]

Turkey’s central bank chief focuses on inflation

ANKARA: Turkey’s new central bank Governor Murat Cetinkaya emphasized in his first public appearance that curbing inflation remains the bank’s top priority, signaling continuity in monetary policy. The lira gained. At a press conference on Tuesday presenting the quarterly inflation report, Cetinkaya said the bank would do more to raise [...]

Brexit issue

Britain’s proposed exit from the European Union – has become a subject of heated debate in the Western world. During his recent visit, US President Barack Obama appealed to British voters to remain in the European Union, arguing that its membership has amplified Britain’s place in the world and made [...]

Malaysia names new central bank governor

KUALA LUMPUR: Malaysia named central bank Deputy Governor Muhammad Ibrahim as successor to Governor Zeti Akhtar Aziz when she steps down at the end of the month after 16 years at the helm. The ringgit gained and stocks pared losses. Muhammad has been appointed for a five-year term that starts [...]

Sharif’s summer of discontent

It is quite evident that Nawaz Sharif is not willing to give in to the opposition pressure. He has already addressed the nation twice since the Panama Papers leak. To many, it is reminiscent of his embattled days in the twilight of his first term in office in 1993. The [...]

Time for debt reduction in Greece

Once again, Greece is at an inflection point. With its cash balances severely stressed, it seems unlikely to be able to meet the cascading debt payments falling due over the next few months. So yet another round of contentious and protracted discussions with its creditors is underway – one that [...]

Wimbledon: Men, women’s champs to receive $3m

LONDON: This year’s men and women’s singles champions at Wimbledon will each receive nearly $ 3 million, as the Grand Slam tournament increases overall prize money by 5 per cent. The All England Club announced on Tuesday that the total prize fund is going up to 28.1 million pounds ( [...]

KP govt denies offering citizenship to Sammy

PESHAWAR: The Khyber Pakhtunkhwa Chief Minister’s Information Adviser, Mushtaq Ghani, issued a denial after reports circulated on local media that West Indies cricketer Darren Sammy had been offered an honourary Pakistani citizenship by Pervez Khattak. “This power resides with the federal government and the chief minister cannot offer an honourary [...]

Bonds’ auction yields Rs136 billion

LAHORE: The government raised Rs135.958 billion from the auction of Pakistan Investment Bonds of various tenors held last Thursday. It received bids of Rs198.945 billion. No bids were received for 20-year bonds. It generated Rs60.956 billion from five-year bonds at a cut-off yield of 6.9997pc, Rs45.761 billion from three-year at [...]