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News Desk
Economic Affairs Editor

News's Articles

New York’s latest luxury: a night under the stars

NEW YORK: In the concrete jungle of New York City, where open sky can be hard to find, the latest luxury offering is a night under the stars — or, under twinkling city lights, at least. From terraces and high-rise balconies atop Art Deco buildings or glass-walled modern structures, this new breed of hotel offers straight-up views, with nary a window pane or curtain to impede the breeze. And in a city where air pollution, bright lights and the dizzyingly tall skyscrapers of the Manhattan skyline can obscure the stars, hotel companies say they offer travelers a unique experience. “When we identified something we think will really delight people and give them a one-of-a-kind chance of living — something that they can’...

July 30, 2013 at 1:24 am | News Desk

Italy mourns 38 killed in coach crash

AVELLINO, Italy: Italy was preparing Monday to bury 38 people killed when a coach carrying pilgrims plunged off a flyover near Naples, the worst such accident in western Europe in the last decade. Local prosecutors have launched an investigation into possible manslaughter over Sunday evening’s accident near the town of Avellino on the busy highway between Naples and Bari in southern Italy. Relatives and friends gathered at a nearby school where the bodies of their loved ones were laid out in the gymnasium, ahead of funerals to be held Tuesday. Prime Minister Enrico Letta also announced a national day on mourning for Tuesday. Rescuers have cleared the last of the wreckage from a wooded area off the road, where a row of beige seats pa...

July 30, 2013 at 1:24 am | News Desk

KPK govt approves 10-storey emergency centre, helicopter for patients

PESHAWAR: Khyber Pakhtunkhwa (KPK) government has decided to establish a 10-storey emergency center and to purchase special helicopter for providing relief to the people in case of any natural disaster. KPK government has made a significant move in natural disaster management by initiating work on construction of modern style 10-storey emergency center and purchasing of rescue helicopter for rapid action force. Finance Minister in KPK government Siraj-ul-Haq has confirmed establishment of the project approved for natural disaster management. Siraj-ul-Haq added the details of the project that emergency center will be established in Khyber Teaching Hospital while helicopter will be handed over to the hospital administration in coming few m...

July 30, 2013 at 1:24 am | News Desk

Samsung Google Nexus 10 likely to debut with 10 inch screen

Washington: Search engine giant just after the few days of unveiling the second version of its flagship tablet Google Nexus 7 now gearing up to launch Samsung Google Nexus 10 soon. On July 24 at its media event in San Francisco, Google unveiled the Nexus 7 tablet along with the much-awaited Android 4.3 Jelly Bean, but there is more to come. Google’s Android chief Sundar Pichai had told the publication that consumers can expect a new 10-inch Samsung-built Nexus 10 tablet in the near term, according to the Wall Street Journal’s Amir Efrati. According to sources, Nexus 10 will be available in 10-inch screen. In 2012, Google launched the Nexus 7 in July, followed by the Nexus 10 and Nexus 4 in fall. It is likely that the company ...

July 30, 2013 at 1:24 am | News Desk

After BBC, Owen Bennett-Jones report on Altaf Hussain in The Guardian

LONDON: Following his report of BBC over Altaf Hussain and Muttahida Qaumi Movement, Owen Bennett-Jones has filed another report against Karachi based party in leading British Daily, The Guardian. (more…)

July 30, 2013 at 1:24 am | News Desk

Pakistan vs West Indies: Green shirts beat hosts by 11 runs to win T20 series 2-0

Kingston: Pakistan defeated West Indies by runs to win the two-match T20 series by 2-0 against West Indies here on Sunday. Earlier, Pakistan won the toss and chose to bat first. On a tired, used and slow pitch in St Vincent, West Indies denied Pakistan any pace and kept them down to 135 at Arnos Vale Ground. Reply to this, West Indies were not looking comfortable against Pakistan bowlers stifled and dismantled the hosts’ top order. The contest was over inside the first six overs of the chase. However, Kieron Pollard and Dwayne Bravo gave litter hopes to the windies team and supporters but they could not survive till the final over. The hosts scored 124 for nine in 20 overs. Pakistan’s Saeed Ajmal, Sohail Tanveer and Zufiqar B...

July 29, 2013 at 2:36 am | News Desk

Johnny Manziel gets thrown out of UT Frat Party

Texas A&M’s Johnny Manziel just can’t seem to stay out of the limelight. The Heisman Trophy-winning quarterback apparently stopped by a frat party at the University of Texas last night and was not-so-politely asked to leave by a few of the party-goers, who threw beer and insults at him. Watch video According to one Twitter user, Manziel was enjoying a Keystone Light in his pink polo shirt some time before the beer-throwing and kicking-out began.   A keystone light?! C’mon! You’re Johnmy Freaking Football! Step up your game. pic.twitter.com/QQ2i92eNsJ — Curry Shoff (@CurryShoff) July 27, 2013   The News Tribe – UK-based bilingual news website covering politics, technology, sports, healt...

July 29, 2013 at 1:28 am | News Desk

Pakistan win toss and chose to bat first against West Indies

Kingston: Pakistan on Sunday won the toss and chose to bat first 2nd and final Twenty20 International (T20) match against West Indies played at Arnos Vale Ground. Pakistan have beaten West Indies in the first T20 by 2 wickets taking 1-0 lead thanks to Shahid Afridi’s 46 runs with Umer Amin’s 47 runs on his debut. On the other hand West Indies will be eyeing to level the series. Pakistan made three changes in the previous playing eleven as Nasir Jamshed, Junaid Khan and Mohammad Irfan out for Sohail Tanvir, Asad Ali and Haris Sohail. According to T20 stats, Pakistan is one of the best T20 teams, since the debut in 2006. Green Shirts have played 68 matches so far and have won 41 of them. On the other hand West Indies have playe...

July 29, 2013 at 1:28 am | News Desk

Sri Lanka beat South Africa by 8 wickets in 4th ODI

Kandy: Dilshan and Sangakkra shine to guide Sri Lanka a comfortable victory by 8 wickets in fourth One Day International (ODI) against South Africa played at Pallekele. Sri Lanka achieved in 239 runs target in 44 overs. Tillakaratne Dilshan scored an unbeaten century along with Sangakkara’s brilliant 91 runs to guide Sri Lanka a comfortable victory over South Africa. Lonwabo Tsotsobe and Morne Morkel took one wicket each for South Africa. Earlier South Africa won the toss and elected to bat first. South Africa lose an early wicket in shape of Quinton de Kock while Hashim Amla and Jean Paul Duminy set a brilliant partnership which allows South Africa to pass 100 runs without losing another wicket. Hashim Amla made 77 runs at the top...

July 29, 2013 at 1:28 am | News Desk

South Africa sets 239 runs target against Sri Lanka in 4th ODI

Kandy: South Africa all out on 238 runs against Sri Lanka in forth One Day International ODI played at Pallekele. South Africa won the toss and elected to bat first. South Africa lose an early wicket in shape of Quinton de Kock while Hashim Amla and Jean Paul Duminy set a brilliant partnership which allows South Africa to pass 100 runs without losing another wicket. Hashim Amla made 77 runs at the top of the inning while Duminy stay till the end of the innings; he made brilliant 97 to guide South Africa a descant total of 238 runs. Ajantha Mendis took 4 wickets while Lasith Malinga finishes of with 3 wickets for Sri Lanka. The News Tribe – UK-based bilingual news website covering politics, technology, sports, health and lifestyle ...

July 29, 2013 at 1:28 am | News Desk

China ‘orders audit of government debt

BEIJING: China has called for an audit of all government debt, the national auditor announced Sunday, as concerns grow over official liabilities in the world’s second-largest economy. “In line with a demand by the State Council in recent days, the National Audit Office will organise auditing agencies nationwide to carry out an audit of government debt,” the office said in a one-sentence statement on its website. The powerful State Council, China’s Cabinet, is headed by Premier Li Keqiang. The demand for the audit was “urgently” issued Friday afternoon, the People’s Daily, newspaper of the ruling Communist Party, said on its website citing a source. It said the audit office suspended all other pro...

July 29, 2013 at 1:28 am | News Desk

How to Cut the Airport Line

The TSA will launch a new enrollment process for PreCheck, its expedited security service Click here for more information Businessweek.com -- Most Popular

July 28, 2013 at 3:06 am | News Desk

N. Korea in mass display of military might

PYONGYANG, North Korea: North Korea staged an intimidating parade of military muscle and patriotic fervour Saturday, aimed at rallying support around leader Kim Jong-Un on the 60th anniversary of the armistice that ended the Korean War. For two hours, wave after wave of goose-stepping soldiers, followed by batteries of tanks and longer-range missiles on giant mobile launchers, marched through Kim Il-Sung square in a highly orchestrated display of national solidarity and defiance. Kim Jong-Un, flanked by top military officials and Chinese Vice President Li Yuanchao, took the salute from the review podium overlooking Pyongyang’s giant Kim Il-Sung square, which was turned into a sea of colour by hundreds of thousands of men and women w...

July 28, 2013 at 2:16 am | News Desk

Pope Francis in Rio mass urges priests to visit slums

RIO DE JANEIRO: Pope Francis on Saturday challenged priests to bring the message of the Gospel to the world’s slums as he pressed his drive in Brazil to revive a struggling Catholic faith. “It is in the favelas …that we must go to seek and serve Christ,” he told thousands of bishops, priests and seminarians from around the world gathered for a mass at Rio’s St. Sebastian Cathedral. “We cannot keep ourselves shut up in parishes, in our communities, when so many people are waiting for the Gospel,” Francis said. “In many places, the culture of exclusion, of rejection is spreading. There is no place for the elderly or for the unwanted child. There is no time for the poor person on the edge of t...

July 28, 2013 at 2:16 am | News Desk

Syria peace hopes fade after rebels’ talks with West

NEW YORK: Syria’s main opposition group wanted to talk about their “desperate” need for weapons, but Western leaders they met this week preferred to discuss floundering hopes for a peace conference. (more…)

July 28, 2013 at 1:37 am | News Desk

Lewis Hamilton pips Vettel to surprise Hungary pole

BUDAPEST: Lewis Hamilton scorched to a surprise pole for the Hungarian Grand Prix in searing heat on Saturday, the Mercedes driver edging out defending champion and season leader Sebastian Vettel. (more…)

July 28, 2013 at 1:37 am | News Desk

EU, China settle solar panel dispute

BRUSSELS: The European Commission said Saturday it has reached an “amicable solution” with Beijing over imports of Chinese solar panels, a dispute that had threatened a full-blown trade war between two of the world’s largest trading powers. “We found an amicable solution in the EU-China solar panels case that will lead to a new market equilibrium at sustainable prices,” EU Trade Commissioner Karel De Gucht said in a statement. The breakthrough comes as Brussels and Beijing remain locked in a series of tit-for-tat disputes on other products ranging from steel pipes and telecoms equipment to wine and chemicals. The two sides are major trading powers, rivals and partners. Total trade last year came to nearly $55...

July 28, 2013 at 1:37 am | News Desk

Italy banks cut credit, leaving small businesses gasping

ROME, Latium: Loans to businesses in recession-hit Italy dropped by 4.2 percent over the past year, with small companies in particular suffering from difficulties in obtaining credit and unpaid state bills, a new report warned Saturday. Between May 2012 and May 2013, total bank loans dropped by 41.5 billion euros ($55 billion), or 4.2 percent, small business association Confartigianato said. The situation is aggravated by the amount the state owes the private sector, which the report said amounted to 91 billion euros in 2012. Other sources say the figure is higher: banking lobby ABI said in May that arrears may have topped 100 billion euros in 2012, while big business lobby Confindustria said the debt owed to businesses may now be as much...

July 28, 2013 at 1:37 am | News Desk

China’s He wins women’s 3m springboard gold

championships on Saturday when she claimed the 3m springboard crown with compatriot Wang Han taking silver and Pamela Ware of Canada finishing with bronze. He had already built up a huge 20-point lead after only her second dive and she extended the margin further through the five rounds for a winning tally of 383.40, next to Wang’s 356.25 and Ware’s 350.25. This was 22-year-old He’s second gold of these world aquatic championships having won the 1m springboard title on Tuesday. Even with reigning world and Olympic Wu Minxia sitting out the individual event having claimed a record sixth gold medal in the 3m synchronised event last Saturday, China still dominated. Having finished with silver in this event at both the 2012 ...

July 28, 2013 at 1:36 am | News Desk

Correction: Spanish energy

In our article on Spanish energy last week ("Cost del sol") we should have said that subsidies for solar energy (not for all renewable energy) rose from 193m Euro in 2007 to 3.5 billion Euro in 2012. Apologies. Business Click here for more information The Economist: Business

July 27, 2013 at 5:32 am | News Desk