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Pakistan election bolsters bull market case for Mobius, Goldman

HONG KONG: After 18 years as a banker at firms such as Citigroup and Nomura, Shaheryar Chishty took a different direction in late 2011, starting an investment firm that, among other things, helped guide Chinese and South Korean money into Pakistan. While Pakistan is probably not the first place the average investor would choose to park cash, Chishty’s timing was ... Read More »

Dollar edges down but remains high vs yen

TOKYO: The dollar edged lower in early Asian trade on Wednesday but stayed close to its highest point against the yen in four and a half years on signs of an improving U.S. economy and rising Treasury yields. The dollar index was steady at 83.589, after retracing its overnight high of 83.687, which was its loftiest level since July 2012. ... Read More »

Stronger U.S. dollar hits oil, gold; stocks pause

NEW YORK: The dollar strengthened against the yen and other major currencies on Monday after the Group of Seven backed Japan’s efforts to spur growth through aggressive asset purchases, while oil and gold prices fell on the stronger greenback. A surprise rise in U.S. retail sales in April supported views that the U.S. economy, the world’s biggest, remains resilient. The ... Read More »

Asian shares mostly rise, dollar takes breather

  Tokyo: Asian shares snapped a two-day losing streak and rose on Tuesday as a suprising rise in US retail sales boosted sentiment, but the dollar took a breather after gaining broadly on growing optimism about the recovery in the world’s largest economy. A pause in the dollar’s rise helped commodities prices stabilise, with gold gaining 1 percent to recoup ... Read More »

Sharp to seek Samsung edge for survival as Apple sales lose steam

TOKYO: Japanese display maker Sharp Corp, a supplier to Apple Inc, will aim to boost sales to the iPhone maker’s chief rival Samsung Electronics Co under a three-year rehabilitation roadmap to secure its survival. The business plan, due for release on Tuesday, will lean further on banks that last year saved it from failure, as a 200 billion yen ($2 ... Read More »

Oil down in Asia as OPEC boosts supply

SINGAPORE: Crude prices were lower in Asian trade on Monday, after OPEC raised its oil output and maintained a flat forecast of global demand, analysts said. New York’s main contract, light sweet crude for delivery in June shed 81 cents to $95.23 a barrel and Brent North Sea crude for June delivery was down 81 cents to $103.10 in morning ... Read More »

Nikkei up after Japan gets nod from G7 on stimulus

BANGKOK  — Japan’s stock market jumped Monday afterglobal finance leaders gave a seal of approval to the country’sstimulus program and refrained from criticizing its weakening effect on the yen. Stocks were mixed elsewhere in Asia. The benchmark Nikkei 225 index in Tokyo shot up 1.6 percent to 14,838.08. The index has soared nearly 43 percent since the beginning of the year. Finance leaders ... Read More »

Oil drops below $95 a barrel as dollar rises

The price of oil dropped below $95 a barrel on Friday as a strengthening dollar made crude more expensive for traders using other currencies. By early afternoon in Europe, benchmark crude for June delivery was down $1.74 to $94.65 a barrel in electronic trading on the New York Mercantile Exchange. The contact lost 23 cents to finish at $96.39 a barrel on the Nymex on ... Read More »

Yen weakens past 100 to dollar, may fan talk of currency war

TOKYO  – The yen weakened past 100 per dollar, giving Japanese Prime Minister Shinzo Abe a symbolic victory for his easy money policies, with markets bracing for further declines in the currency that could raise tensions with trading partners. The yen broke through resistance to fall as low as 101.43 per dollar, down nearly three percent from Thursday’s high around 98.65, and ... Read More »

Oil down near $96 per barrel after supplies uptick

The price of oil fell closer to $96 a barrel on Thursday after reports showed supplies of U.S. crude rose last week and inflation accelerated in China. By early afternoon in Europe, benchmark oil for June delivery was down 49 cents to $96.13 a barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, the Nymex contract rose $1 to finish at $96.62 ... Read More »

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