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European stocks steady after day-earlier losses

LONDON: European stock markets steadied Thursday following the previous day’s losses while the euro clambered up from four-year lows. Sentiment remained subdued by ongoing concerns over Europe’s government debt crisis and the political response to it.  Read More →

Dubai World reaches agreement over debt

DUBAI: Dubai’s embattled group Dubai World, whose default fears had rocked global markets, Thursday said it reached agreement “in principle” with most of its bank lenders to restructure some 23.5 billion dollars in debt.  Read More →

Asian stock markets tumble amid Europe fears

TOKYO: Asian markets dived Friday, following a brutal day on Wall Street where stocks took their deepest tumble in more than a year. The wave of selling came amid growing fears that Europe’s debt crisis could spread around the world. An unexpected increase in U.S. jobless claims added to the pessimism.  Read More →

Govt for introducing long-term savings schemes

ISLAMABAD: A report of the Ministry of Finance has recommended that a scheme of compulsory saving or pension plan be introduced for enhancing long-term savings while mobile banking be promoted for reducing the money in circulation. The economic report issued by the Ministry of Finance expressed concerns on the diminishing rate of savings and recommended increase in the rate of returns on savings in... 

Decreasing Jobless Claims May Boost Pound

The Great Britain pound advanced today against the other major currencies and may continue its rise further as the report showed that the number of the jobless benefits claimed is dwindling. The number of the unemployment claims decreased in March by 10,000 from the previous month, when it fell by 32,300. The pound was bolstered by the government report that the inflation grows with greater than predicted...