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Posts tagged "cuts"

PM calls US aid ‘insignificant’ as Trump threatens to cut it off

NEWS DESK: Prime Minister Shahid Khaqan Abbasi has declared himself mystified by US threats to cut off funding, saying that US financial assistance was “very, very insignificant” and that Pakistan was “on the forefront of the war on terror”, reported The Guardian. In an interview with the Guardian, Abbasi said that reports that the US…

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January 7, 2018


Twitter to cut 8% of workforce, refocus under Dorsey

SAN FRANCISCO: Twitter said Tuesday it was slashing eight percent of its workforce as newly returned chief executive Jack Dorsey outlined his “roadmap” to boost users and revenues at the money-losing messaging platform. The cuts — which amount to 336 jobs — come less than a week after Dorsey, one of the founders of Twitter,…

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October 14, 2015


SBP cuts key policy rate to 7 pct to spur growth

KARACHI: State Bank of Pakistan on Saturday cut its policy rate by 100 basis points to 7 percent from 8 percent effective from May 25 to spur economic growth. The central bank its bi-monthly monetary policy statement said that macroeconomic conditions towards the end of FY15 have further improved compared to the beginning of the…

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May 23, 2015


BlackBerry cuts jobs worldwide as it consolidates businesses

TORONTO: Canadian smartphone maker BlackBerry Ltd is cutting jobs across the world, the company said on Friday, as it consolidates its software, hardware and applications business. The company did not specify how many employees would be affected. BlackBerry, which reported a 16.8 percent fall in quarterly revenue in March, had about 6,225 full-time employees as…

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May 23, 2015


SBP cuts monetary policy rate to 8pc

KARACHI: State Bank of Pakistan (SBP) has reduced its policy rate by 50 basis points; from 8.5 percent to 8 percent. The new policy (interest) rate will be effective from March 24, 2015, SBP  announced in its bi-monthly monetary policy statement here on Saturday. The statement said the increasing number of economic indicators in the…

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March 21, 2015


Asian shares rise as South Korea cuts rates

TOKYO: A surprise interest rate cut by South Korea's central bank on Thursday helped lift an index of Asian stocks away from the previous session's seven-week trough, while the euro plumbed a new 12-year low as the European Central Bank's easing pressured eurozone bond yields. Financial spreadbetters predicted some of Asia's luster would rub off…

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March 12, 2015


Bangladesh cuts power to opposition leader's home

DHAKA: Bangladesh authorities on Saturday cut the power to opposition leader Khaleda Zia's home in an apparent bid to force her to call off a crippling anti-government transport blockade. Local television showed footage of a technician from a state-run power utility climbing a ladder and cutting the line outside Zia's house, where she also has…

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January 31, 2015


SBP cuts discount rate by 50 basis points

KARACHI: State Bank of Pakistan (SBP) Saturday reduced its key discount rate to 9.5 percent from 10.0 percent, Samaa reported. According to a statement issued, the decision was taken by the Central Board of Directors of SBP at its meeting held under the chairmanship of Governor Ashraf Mahmood Wathra here on Saturday.  The complete text of the monetary policy…

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November 15, 2014


Oil prices slump on Saudi price cuts

LONDON: Oil prices plunged on Tuesday, with Brent hitting a four-year low after Saudi Arabia slashed its export prices for the US market to counter demand for shale fuels. Brent North Sea crude for delivery in December slumped $2.38 to stand at $82.40 a barrel in London midday deals. It had earlier hit a four-year…

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November 4, 2014


Saudi price cuts send oil prices to 2-year low

NEW YORK: Price cuts by key exporter Saudi Arabia helped send global crude prices to their lowest point in more than two years Thursday before they recovered in late trade. Analysts said Riyadh had announced lower prices for the fourth straight month to hold onto market share, which it had been losing against a broader…

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October 2, 2014


US stocks slip after ECB rate cuts

NEW YORK: US stocks closed lower Thursday despite an early boost from the European Central Bank's move to further cut interest rates and launch an asset-purchase plan to beat back deflation pressures. At the close, the Dow Jones Industrial Average was down 8.70 points (0.05 percent) to 17,069.58. The broad-based S&P 500 slipped 3.07 (0.15…

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September 4, 2014


IMF cuts global growth outlook

WASHINGTON/MEXICO CITY: The International Monetary Fund has chopped its 2014 forecast for global economic growth to take into account weakness early in the year in the United States and China, the world's two biggest economies. The IMF warned that only some of the factors leading to the reduction were temporary, and richer nations in particular…

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July 25, 2014


Landlord cuts boy’s arms for walking cattle into field

GUJRAT: In a harrowing act of barbarism, a landlord chopped off a 10-year old boy’s arms on committing a ‘gravest sin’ of walking his cattle into the former’s field of crops, Samaa reported Thursday. The landlord, identified as Ghulam Mustafa, completely lost his temper on finding the boy’s cattle in his field of crops and…

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July 24, 2014


Rape-prevention program cuts sexual assaults in Kenya

NAIROBI: Self-defense and empowerment classes designed to arm girls with tools to prevent rape reduced sexual assaults among Kenyan students, a new study shows. The number of rapes dropped 38 percent among adolescents living in high-crime Nairobi settlements 10 months after the classes began, the study found. In addition, half of the nearly 2,000 girls…

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April 16, 2014


India unveils indirect tax cuts in pre-election budget

NEW DELHI: The Indian government announced a package of indirect tax cuts on Monday to breathe life into spending and investment, and trumpeted its record of growth and reform over the past decade in an interim budget before an election it looks set to lose.Amid uproar in parliament as lawmakers shouted him down, Finance Minister…

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February 17, 2014


U.S. eyes options for Afghanistan after Congress cuts aid

WASHINGTON: The Obama administration is considering ways to ensure future financial assistance for Afghanistan after U.S. lawmakers halved development aid to the country.In a massive spending bill signed into law on Friday by President Barack Obama, lawmakers provided $1.12 billion to Afghanistan for fiscal 2014 for overall civilian assistance, a 50 percent reduction from the…

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January 22, 2014


Gas cuts cause trouble to domestic consumers in Lahore

Muhammad Luqman shares with us miseries of domestic gas consumers, caused by regular cuts in winter, in Lahore.

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December 27, 2013


Disney cuts CEO pay, adds Twitter co-founder to board

LOS ANGELES: Walt Disney Co has slashed Chief Executive Bob Iger's fiscal 2013 compensation by 15 percent with a bonus cut, and named Twitter Inc co-founder Jack Dorsey an independent board director.Dorsey, widely credited with creating Twitter alongside fellow co-founders like Ev Williams, Biz Stone and Noah Glass, will stand for election at Disney's March…

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December 24, 2013


KESC starts cuts at water pumping stations over non-payment

KARACHI: Karachi Electric Supply Company (KESC) started to carry out 4-hours a day load shedding at all water pumping stations of KW&SB from Nov 20th and announced that if KWSB continues to default on payments of outstanding dues, the power supply would be disconnected too. In a press release today, Karachi electricity firm said that…

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November 20, 2013


Senate cuts deal to raise U.S. debt ceiling, reopen government

WASHINGTON: The U.S. Senate announced a last-minute deal on Wednesday to avert a historic lapse in the government's borrowing ability and a potentially damaging debt default, and to reopen the government after a two-week shutdown. But even if the Senate and House of Representatives manage to overcome procedural hurdles to seal the deal before Thursday…

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October 16, 2013


Apple cuts fourth-quarter orders for iPhone 5C: source

TAIPEI/BEIJING: Apple Inc has told manufacturers of its new iPhone 5C that it will cut orders of the smartphone for the final three months of the year, a source familiar with the supply chain situation said.Pegatron Corp, a major manufacturer of Apple's new phone, had iPhone 5C orders reduced by less than 20 percent, the…

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October 16, 2013

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