Italian vintage: Ferrari sells for a record $38 million

<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNRtIOK5XnEXIHRu9U7kt6W0BD-bdl-EfdQfXTfgTARerve-yk4xXVoF3Q6_sXywDxksa8-g9ebr-n8Rj_pwOZCYU7Sp4lneO6dPM5S9frrkysejlziZ4p169Gmdasd0VUs8Duoi0GWXM/s1600/749773-ferrariphotoafp-1408233463-206-640x480.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNRtIOK5XnEXIHRu9U7kt6W0BD-bdl-EfdQfXTfgTARerve-yk4xXVoF3Q6_sXywDxksa8-g9ebr-n8Rj_pwOZCYU7Sp4lneO6dPM5S9frrkysejlziZ4p169Gmdasd0VUs8Duoi0GWXM/s1600/749773-ferrariphotoafp-1408233463-206-640x480.jpg" width="640" /></a></div> <div> <strong class="location"> </strong></div> <div> <strong class="location">LOS ANGELES: </strong> <strong>A red 1962 Ferrari 250 GTO Berlinetta, which is said to be one of only a handful, has recently been sold for $38.1 million in California, becoming the most expensive car ever sold.</strong><br /> </div> The car, with the chassis number 3851 GT, belonged to the Maranello Rosso Collection. It was auctioned at Monterey Car Week near San Francisco. The auctioneers did not name the new buyer.<br /> The Ferrari sold has a checkered past. Its first owner was a French racer Jo Schlesser who drove the car in competition with his friend, the Olympian Alpine ski racer Henri Oreiller during the 1962 Tour de France Automobile.<br /> The second time the friends took the car out was during the Coupes du Salon race, where Oreiller crashed it and was killed.<br /> Bonhams said that the car was badly damaged after hitting a trackside building and a mourning Jo Schlesser returned it to the factory for repair to as-new condition and subsequent resale.<br /> The car was then purchased by Paolo Colombo from Italy the following year for competition, and was later sold to Ernesto Prinoth, who used it to embark upon an energetic programme of mixed hill climbing and circuit racing.<br /> In 1965, Italian enthusiast Fabrizio Violati bought the car and kept it until his death in 2010. Since then it has been retained by the Maranello Rosso Collezione.<br /> It’s the most expensive car to be sold ever, according to Bonhams. The previous record was held by a 1954 Mercedes-Benz W196R Formula 1 model that was sold in Britain last year for $30 million.<br /> Among the celebrities who own a Ferrari 250 GTO are the designer Ralph Lauren, Pink Floyd drummer Nick Mason and the heir to the Wal-Mart supermarket chain, Rob Walton, according to <i>The Los Angeles Times</i>.

Italian vintage: Ferrari sells for a record $38 million

  LOS ANGELES:  A red 1962 Ferrari 250 GTO Berlinetta, which is said to be one of only a handful, has recently been sold for $38.1 mi...

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Boeing, South African Airways to make jet fuel from tobacco

<span id="ctl00_ContentPlaceHolder1_lblNewsDetailMain"></span><br /> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjzF7apFycFbhyphenhyphenqLOmW92IczMVog7sWXJPr3kGV6ZBNJQJMq2WVkrKCUGZ8iohN4dBUJ1ENcvXrL4eEBFge8tJ4WxZUnZZs7YTEqBom-KFqiTEs76czeXavXbY4zmKzmJgNTGFVpsrIqvA/s1600/Boeing-Tobacco_8-7-2014_156139_l.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="352" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjzF7apFycFbhyphenhyphenqLOmW92IczMVog7sWXJPr3kGV6ZBNJQJMq2WVkrKCUGZ8iohN4dBUJ1ENcvXrL4eEBFge8tJ4WxZUnZZs7YTEqBom-KFqiTEs76czeXavXbY4zmKzmJgNTGFVpsrIqvA/s1600/Boeing-Tobacco_8-7-2014_156139_l.jpg" width="640" /></a></div> <br /> <b>JOHANNESBURG: US planemaker Boeing has teamed up with South African Airways to develop jet fuel from a tobacco plant as part of efforts to cut carbon emissions and promote green energy in Africa's most advanced economy.</b><br /> <br /> The jet fuel will be made from a hybrid tobacco plant known as Solaris, which will be produced by alternative jet fuel maker SkyNRG, both companies said in a joint statement on Wednesday.<br /> <br /> Test farming of the plants, which are nicotine-free, is ongoing in South Africa, with biofuel output expected in the "next few years", the companies said.<br /> <br /> "By using hybrid tobacco, we can leverage knowledge of tobacco growers in South Africa to grow a marketable biofuel crop without encouraging smoking," Ian Cruickshank, SAA's Group Environmental Affairs Specialist, said.<br /> <br /> This biofuel has potential in several regions where traditional tobacco is cultivated, including Africa, southern and central Europe, Asia, Oceania and Latin America, Boeing spokeswoman Jessica Kowal said.<br /> <br /> South Africa has set the beginning of October next year as the date when fuel producers will start blending diesel and petrol with biofuel to cut its reliance on imported fuel.<br /> <br /> The biofuels industry in South Africa, the continent's biggest agricultural producer, has been held back by an inadequate regulatory regime and concerns that biofuels would hurt food security and impact food prices.<br />

Boeing, South African Airways to make jet fuel from tobacco

JOHANNESBURG: US planemaker Boeing has teamed up with South African Airways to develop jet fuel from a tobacco plant as part of effort...

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Facebook buys cybersecurity startup PrivateCore

<span id="ctl00_ContentPlaceHolder1_lblNewsDetailMain"></span><br /> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMrWd7e2jYj2A-v123gh7xy66DTCF_75pnhNhMRUg7ELmWhkHCn6vl4iB10GlQ70XZamuY5cgoRgypbUonh-wNA6xvbYbA5Xl-TzdwHppf75-5q0JcfndbJaErRiGPSYj3J7Ovk8Uw-U0/s1600/world-facebook_8-8-2014_156191_l.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="352" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMrWd7e2jYj2A-v123gh7xy66DTCF_75pnhNhMRUg7ELmWhkHCn6vl4iB10GlQ70XZamuY5cgoRgypbUonh-wNA6xvbYbA5Xl-TzdwHppf75-5q0JcfndbJaErRiGPSYj3J7Ovk8Uw-U0/s1600/world-facebook_8-8-2014_156191_l.jpg" width="640" /></a></div> <b>NEW YORK: Facebook announced Thursday it was buying California-based cybersecurity startup PrivateCore, in a move to boost defenses of its vast server network.</b><br /> <br /> "I believe that PrivateCore´s technology and expertise will help support Facebook´s mission to help make the world more open and connected, in a secure and trusted way," Facebook´s Joe Sullivan said.<br /> <br /> "Over time, we plan to deploy PrivateCore´s technology directly into the Facebook server stack."<br /> <br /> PrivateCore was launched in 2012 in Palo Alto and specializes in protecting servers against malware and other kinds of intrusions.<br /> <br /> PrivateCore´s Oded Horovitz said in a blog post that the two firms "have an aligned mission."<br /> <br /> "Since the beginning, we have worked tirelessly on our technology to protect servers from malware threats, unauthorized physical access, and malicious hardware devices," he said.<br /> <br /> "Working together with Facebook, there is a huge opportunity to pursue our joint vision at scale with incredible impact."<br /> <br /> Terms of the deal were not announced. (AFP)<br />

Facebook buys cybersecurity startup PrivateCore

NEW YORK: Facebook announced Thursday it was buying California-based cybersecurity startup PrivateCore, in a move to boost defenses of ...

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Judge rejects $324.5 million settlement over Apple, Google hiring

<span id="ctl00_ContentPlaceHolder1_lblNewsDetailMain"></span><br /> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgU55xmQFB4LPolDIyrtdAocCcZ_FhKi-Bqat2f9ZYKJECz-uMMqhZazvJoMPumeTduqq3CDe7sex7SFkRiDp4jq4_S1DOiSOHDYo4VK1bTlDVkCSZinDUMkZ92uzDwZuguAuNz5jMUV4g/s1600/google-apple-judge-settlement-reject_8-9-2014_156369_l.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="352" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgU55xmQFB4LPolDIyrtdAocCcZ_FhKi-Bqat2f9ZYKJECz-uMMqhZazvJoMPumeTduqq3CDe7sex7SFkRiDp4jq4_S1DOiSOHDYo4VK1bTlDVkCSZinDUMkZ92uzDwZuguAuNz5jMUV4g/s1600/google-apple-judge-settlement-reject_8-9-2014_156369_l.jpg" width="640" /></a></div> <br /> <b>NEW YORK: Four Silicon Valley companies including Apple and Google failed to persuade a U.S. judge to sign off on a $324.5 million settlement to resolve a lawsuit by tech workers, who accused the firms of conspiring to avoid poaching each other's employees.</b><br /> <br /> In a ruling on Friday, U.S. District Judge Lucy Koh in San Jose, California, said the class action settlement was too low, given the strength of the case against the companies. Intel and Adobe were also part of the proposed deal.<br /> <br /> There is "substantial and compelling evidence" that late Apple Inc co-founder Steve Jobs "was a, if not the, central figure in the alleged conspiracy," Koh wrote. The judge provided details in evidence of anecdotes involving Jobs and other Valley executives to show why she thought the workers deserved more.<br /> <br /> Representatives for Apple and Google Inc declined to comment. Intel spokesman Chuck Mulloy said the company is disappointed Koh rejected an agreement "that was negotiated at arm's length over many months," but appreciates that Koh provided additional information on her views.<br /> <br /> Lawyers for the workers, along with an Adobe representative, were not immediately available to comment.<br /> <br /> In their 2011 lawsuit, the tech employees said the conspiracy had limited their job mobility and, as a result, kept a lid on salaries. The case has been closely watched because of the possibility of big damages being awarded and for the opportunity to peek into the world of some of America's elite tech firms.<br /> <br /> The case was based largely on emails in which Apple's Jobs, former Google Chief Executive Officer Eric Schmidt and some of their rivals hatched plans to avoid poaching each other's prized engineers.<br /> <br /> PARIS BLUES<br /> <br /> Koh referred to one email exchange which occurred after a Google recruiter solicited an Apple employee. Schmidt told Jobs that the recruiter would be fired. Jobs then forwarded Schmidt's note to a top Apple human resources executive with a smiley face.<br /> <br /> Koh also disclosed a 2006 exchange over Google's plans to open an engineering center in Paris. Google sought to hire three former Apple engineers for the project, but Jobs objected. Jobs wrote that his company would "strongly prefer that you not hire these guys." Google then told Jobs it had scrapped plans for the Paris center, "based on your strong preference."<br /> <br /> The four companies agreed to settle with the workers in April shortly before trial. The plaintiffs had planned to ask for about $3 billion in damages at trial, which could have tripled to $9 billion under antitrust law.<br /> <br /> Plaintiff attorneys argued Koh should approve the deal because the workers faced serious risks on appeal had the case gone forward. Some tech workers filed objections to the settlement, however, saying both sides should go back to the negotiating table in the hopes of obtaining a larger amount.<br /> <br /> Daniel Girard, a lawyer for one of the objectors, said he is "very pleased that the court agreed with his position." It is unclear whether objectors would be included in any future settlement negotiations.<br /> <br /> In her ruling, Koh repeatedly referred to a related settlement last year involving Disney and Intuit. Apple and Google workers got proportionally less in the latest deal compared to the one involving Disney, Koh wrote, even though plaintiff lawyers have "much more leverage" now than they did a year ago.<br /> <br /> To match the earlier settlement, the latest deal "would need to total at least $380 million," Koh wrote.<br /> <br /> The judge also said the plaintiffs had strong evidence to prove how the no-poaching deals impacted wages. In response to hiring pressure from Facebook, Google co-founder Sergey Brin announced a policy in 2007 of making counteroffers "within one hour" to any Google employee approached by the social networking company.<br /> <br /> Google then tried to entice Facebook into a no-poaching deal, Koh wrote, but Facebook refused. The Facebook threat eventually led Google to alter its salary structure and increase all salaries by 10 percent, Koh wrote.<br /> <br /> A further hearing in the case is scheduled for September 10.<br /> <br /> The case is In Re: High-Tech Employee Antitrust Litigation, U.S. District Court, Northern District of California 11-cv-2509.<br />

Judge rejects $324.5 million settlement over Apple, Google hiring

NEW YORK: Four Silicon Valley companies including Apple and Google failed to persuade a U.S. judge to sign off on a $324.5 million set...

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Bonanza of trade: ABAD expo brings $200m worth of agreements

<div class="separator" style="clear: both; text-align: center;"> <a href="http://i1.tribune.com.pk/wp-content/uploads/2014/08/748993-copy-1408051694-710-640x480.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="480" src="http://i1.tribune.com.pk/wp-content/uploads/2014/08/748993-copy-1408051694-710-640x480.jpg" width="640" /></a></div> <strong><strong class="location">KARACHI: </strong>Foreign companies participating in the ABAD International Expo 2014 have signed $200 million worth of trade and investment agreements during the three-day event, which is also expected to lead to further investment agreements valuing $800 million in the next few months, organisers say.</strong><br /> “The building and construction exhibition brought extraordinary results as besides domestic companies, 24 international firms also set up their stalls in the fair,” said Mohsin Sheikhani, Chairman of the Association of Builders and Developers Pakistan (ABAD), the organisers of the event that ended on Thursday.<br /> Speaking at a press conference, Sheikhani, flanked by Senior Vice Chairman Saleem Qasim Patel and Vice Chairman Hanif Gohar, said three Chinese building material companies producing switches, tiles and ceramics had expressed interest in setting up their units in Pakistan.<br /> During the exhibition, housing and trading projects worth Rs150 billion were designed and the construction industry planned to initiate more projects valuing Rs600 billion by the end of 2014.<br /> Stressing the need for developing a master plan for the whole country, particularly Karachi, Sheikhani warned that if it was delayed, it would increase problems for the coming generation with the mushrooming of slums.<br /> “Twenty years ago, slums constituted 17% of the area in Karachi, but now the ratio has jumped to 57%,” he said. “If the construction industry develops, it will boost the pace of economic growth and create thousands of new job opportunities.” In an effort to provide employment to young students, the association of builders has approached many universities for imparting training to fresh graduates in its ongoing projects.<br /> According to Sheikhani, investors from Germany, Malaysia and many other countries want to come to Pakistan, who could assist in reducing the housing shortage. Separately, the builders association has come up with suggestions of low-cost housing schemes for the poor and reconstruction of slums.<br /> “If the government helps execute the plan, a large number of people will get shelter for their families and a society based on equality will develop.” He also called for introducing one-window operations for addressing the problems besetting the construction industry.<br /> On the last day of the exhibition, Independence Day celebrations were a prominent feature during which star cricketer Shahid Afridi was also present.<br /> Pakistan Peoples Party Senator Saeed Ghani visited different stalls and said the expo would not only lead to development of the construction industry, but also boost the country’s image.

Bonanza of trade: ABAD expo brings $200m worth of agreements

KARACHI:  Foreign companies participating in the ABAD International Expo 2014 have signed $200 million worth of trade and investment agr...

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Tokyo stocks down 0.13pc by break

<br /> <div class="separator" style="clear: both; text-align: center;"> <a href="http://www.brecorder.com/images/2014/08/tokyo-stock1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="460" src="http://www.brecorder.com/images/2014/08/tokyo-stock1.jpg" width="640" /></a></div> TOKYO: Tokyo stocks fell 0.13 percent Friday morning as investors locked in profits after four days of gains.<br /> The Nikkei 225 index slipped 20.66 points to 15,293.91 by the break, while the Topix index of all first-section issues was down 0.13 percent, or 1.67 points, at 1,268.83.<br /> Trading was muted with many investors away for Japan's traditional mid-summer holiday.<br /> "With volume so light and incentives so few, the selling we're seeing today is nothing more than rudimentary after a stretch of strong gains," said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management. <br /> "It's entirely possible, however, that even following the resumption of 'normal' trading next week, overall market movements will remain somewhat subdued," he told Dow Jones Newswires.<br /> In share trading, Skymark rose 1.19 percent to 169.0 yen after the airline said it was terminating some domestic services and raising fares as it faces potentially huge penalties in the wake of a cancelled jet order with European plan manufacturer Airbus.<br /> Sony climbed 1.88 percent to 1,869.5 yen after the Nikkei business daily reported the firm plans to sell image sensors for cameras used in vehicles.<br /> The consumer electronics and entertainment giant is looking to tap new growth markets on the back of a move toward driverless cars and other "smart" vehicles that depend on image sensor technology, the newspaper said.<br /> In currency markets, the dollar fetched 102.48 yen in midday Tokyo trade, compared with 102.45 yen in New York.<br /> On Wall Street, the Dow Jones Industrial Average added 0.37 percent, extending the prior day's gains after jobs data continued to suggest the US labour market was improving.

Tokyo stocks down 0.13pc by break

TOKYO: Tokyo stocks fell 0.13 percent Friday morning as investors locked in profits after four days of gains. The Nikkei 225 index slip...

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Apple to launch “iphone 6″ on september 9th!

<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEoJKWfmc5RZowIT6SN7ZM7YQTnu85I1w1-Zi8gSm0VlEan-Eoi-szuw-yLUY4FSG0ZPoTYRZ0CXeM8SQRbvqxEuTDHYy738JOK5Yf64aCBfwB-gfn6DjuzfkHxBF6GyCgKV60PmavRpY/s1600/iphone_5S_iphone_5C_mockups_0.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="494" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEoJKWfmc5RZowIT6SN7ZM7YQTnu85I1w1-Zi8gSm0VlEan-Eoi-szuw-yLUY4FSG0ZPoTYRZ0CXeM8SQRbvqxEuTDHYy738JOK5Yf64aCBfwB-gfn6DjuzfkHxBF6GyCgKV60PmavRpY/s1600/iphone_5S_iphone_5C_mockups_0.png" width="640" /></a></div> <strong>US: Apple Inc has scheduled a big media event related to the iPhone for September 9.</strong><br /> According to the media reports, the analysts claim that Apple may launch two iPhone models with 4.7 and 5.5 inch screens this year.<br /> It is reported that the Apple is to unveil the iphone 6 on september 9th. Sources claim that<br /> Apple’s current iPhone models, the 5S and 5C, have a 4-inch display panel.<br /> The company has asked suppliers to manufacture 70-80 million units of the new large-screen iPhones by the end of the year, the Wall Street Journal reported in July.<br /> Apple usually launches the newest version of its iPhone in September. The company did not immediately return emails seeking comment.Apple’s shares were down 0.8 per cent at $94.81 in late afternoon trading.

Apple to launch “iphone 6″ on september 9th!

US: Apple Inc has scheduled a big media event related to the iPhone for September 9. According to the media reports, the analysts claim ...

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BELGIAN ACADEMY TRAINS BUTLERS FOR THE SUPER-RICH

<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhfbRj8ShJ_7sTn6b_qSx9WLKodRef-ZMlS5OcZsPBUCpkK1TSdZssXHU0uriaIs-MPaaKjj24Brr_yAGPVrCp3ntVjSDVZ2rM9u9NuzD7JL3dZpYJrvRDPJ5laXOTfKHnJHl76SpUjeq4/s1600/9a177d5e5c72868dec32a4330b3a10f1_ls.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhfbRj8ShJ_7sTn6b_qSx9WLKodRef-ZMlS5OcZsPBUCpkK1TSdZssXHU0uriaIs-MPaaKjj24Brr_yAGPVrCp3ntVjSDVZ2rM9u9NuzD7JL3dZpYJrvRDPJ5laXOTfKHnJHl76SpUjeq4/s1600/9a177d5e5c72868dec32a4330b3a10f1_ls.jpg" /></a></div> <span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;"><br /></span> <span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;">The exclusive School for Butlers and Hospitality in Brussels has found a niche training people to cater to the needs of the world's wealthy, with the Belgian academy drawing applicants from around the globe.</span><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;">"The most important thing for a good butler is to have a good personal attitude and know how to provide maximum service with minimum intrusiveness," School for Butlers and Hospitality director Vincent Vermuelen told EFE.</span><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;">The academy will offer its first four-week course in September at the Plaza Hotel in Brussels for 6,980 euros ($9,380). About 100 candidates from around the world applied for the 12 slots in the class. Butlers are in demand in the wake of the financial crisis even though the public has the idea that they only exist on television series and in novels about Victorian England.</span><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;">Five-star hotels, embassies, yachts and mansions are among the employers of white-gloved butlers. The luxury market's strength throughout the economic crisis has led more people to seek employment as butlers, who can earn from 50,000 euros ($67,195) to 180,000 euros ($241,901) annually, based on experience and the type of employer.</span><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;">The School for Butlers and Hospitality is able to charge high tuition because of the quality of its instructors and courses, as well as the opportunities that its certificates open up, Vermuelen said. The Middle East, Russia and China are the markets with the greatest demand for butlers, with academies opening to train people in these areas.</span>

BELGIAN ACADEMY TRAINS BUTLERS FOR THE SUPER-RICH

The exclusive School for Butlers and Hospitality in Brussels has found a niche training people to cater to the needs of the world's w...

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Apple sued by employees over labor issues

<div class="separator" style="clear: both; text-align: center;"> <img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgKANQRIB0ji6JK8O9UzgN7RlpNSWc77mKV4-jCLU_oGSpHw-yUGkMzChlXrKoLG4y_QkboF4XfO79VIKt81QdKtrj7JR1-zGHeaLOpvwMqTDfMYUHgKQj4BB_EVkLLstm9jq3jwH3Mjyg/s1600/140723101919-apple-employees-620xa.png" /></div> <h2>  Apple has another employee lawsuit to contend with.</h2> The company is facing a lawsuit certified as a class action this week from employees who say they were denied meal breaks and rest periods in violation of California labor law. <br /> <div id="ie_column"> </div> Attorneys for the plaintiffs estimate that more than 20,000 current or former Apple employees from the retail to corporate level have been affected by the alleged violations. <br /> Among other things, the lawsuit claims Apple employees were forced to work for stretches of five hours or more without meals, and didn't get breaks on shorter shifts. There are also more nitpicky complaints about alleged failures to provide timely wage statements and final checks that arrived a few days late.<br /> <br /> <div class="cnnVidFooter"> <div class="js-vid-hed-cvp_story_0 cnnHeadline"> Apple & Microsoft: Both kicking butt</div> </div> The lawsuit contends that Apple's employment rules restrict employees from talking about the company's labor conditions with one another, allowing the company to "invoke fear into the class members that if they so much as discuss the various labor policies, they run the risk of being fired, sued or disciplined." <br /> Apple (<span class="inlink_chart"><a class="inlink" href="https://www.blogger.com/null">AAPL</a></span>, Tech30) declined to comment.<br /> This isn't the first time Apple has found itself in hot water for labor-related issues. The company also faces a class-action lawsuit from Apple Store employees who said they were not paid wages for time spent waiting for managers to check their personal bags before they left work. <br /> <script src="http://i.cdn.turner.com/money/.element/script/7.0/players/embed.js?videoid=/video/investing/2014/07/23/investing-the-buzz-apple-microsoft.cnnmoney"></script> Apple and other tech companies have previously faced a series of lawsuits alleging that they engaged in anti-competitive hiring practices by agreeing not to poach employees from one another. Earlier this year, Apple, Google (<span class="inlink_chart"><a class="inlink" href="https://www.blogger.com/null">GOOGL</a></span>, Tech30), Adobe (<span class="inlink_chart"><a class="inlink" href="https://www.blogger.com/null">ADBE</a></span>) and Intel (<span class="inlink_chart"><a class="inlink" href="https://www.blogger.com/null">INTC</a></span>, Tech30) reached a tentative $324 million settlement in a class-action lawsuit involving some 64,000 tech workers who say their wages were lower as a result of the no-poaching deal. <br /> Apple has also faced scrutiny in recent years following revelations of wage and overtime violations at Foxconn, its main manufacturing partner in China.

Apple sued by employees over labor issues

 Apple has another employee lawsuit to contend with. The company is facing a lawsuit certified as a class action this week from employ...

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Scotland eager to cooperate in Pakistan’s power sector

<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVyE_NHVtZH3Al6lGg34lv80265O9OJX01jluXmT6NXF7nLjEi9sar8EeIW-JLb1FPX-FZ_rAyMf8xllLgAtQEZ6igTTHPoPYKMLnKJmsroP2qzGr4SPrfRbZX9DVN9dcEx-5xVOjnMYY/s1600/Flag-Pins-Pakistan-Scotland.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVyE_NHVtZH3Al6lGg34lv80265O9OJX01jluXmT6NXF7nLjEi9sar8EeIW-JLb1FPX-FZ_rAyMf8xllLgAtQEZ6igTTHPoPYKMLnKJmsroP2qzGr4SPrfRbZX9DVN9dcEx-5xVOjnMYY/s1600/Flag-Pins-Pakistan-Scotland.jpg" /></a></div> <strong>ISLAMABAD: Scottish Minister for External Affairs and International Development Hamza Yousaf has said that his country is keen to cooperate in Pakistan’s power sector.</strong><br /> According to the sources, Minister for Inter Provincial Coordination Mian Riaz Hussain Pirzada met Scottish Minister for External Affairs and International Development, Hamza Yousaf in Glasgow, where both the leaders discussed ways and means to further promote bilateral cooperation in the areas of trade, investment, renewable energy, education and culture.<br /> Riaz Hussain Pirzada briefed the Scottish Minister about the government’s incentives to attract foreign investment in education and energy sectors.<br /> The Scottish Minister praised the progressive outlook of the Pakistan’s economy and expressed keen interest in cooperation in renewable sources of energy.

Scotland eager to cooperate in Pakistan’s power sector

ISLAMABAD: Scottish Minister for External Affairs and International Development Hamza Yousaf has said that his country is keen to cooper...

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Microsoft announces the low-cost Nokia Lumia 530

<div class="separator" style="clear: both; text-align: center;"> <span style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgn7wEzMVj80sxRjyRYkAk6Pnll0nVMLeXwD_KPY8kea7UB_m0lqT6q16GBUjNl4YdkenSMajm8lBKTsrHkQTYw5BALwdXkCKatyZrM_snqsb5LtQJjMhqBt0tEIsSxDlS_OgmszGZrZz0/s1600/nokia-lumia-530-hero-jpg-100361144-gallery.jpg" /></span></div> <div class="separator" style="clear: both; text-align: center;"> <br /></div> <div style="background-color: white; box-sizing: border-box; color: #222222; font-family: 'Helvetica Neue', Arial, sans-serif; font-size: 15px; line-height: 1.7em; margin-bottom: 0.7em;"> After it was first <span style="color: #25a7d7;"><span style="box-sizing: border-box;">tipped in early March</span></span> by Evleaks, Microsoft-owned Nokia announced the<span style="color: #25a7d7;"><span style="box-sizing: border-box;">Lumia 530</span></span> on Wednesday. The budget-grade 3G smartphone is a follow-up to the Lumia 520 and <span style="color: #25a7d7;"><span style="box-sizing: border-box;">525</span></span> and the first Lumia launch since <span style="color: #25a7d7;"><span style="box-sizing: border-box;">Microsoft finalized its Nokia acquisition</span></span> in late April. The Lumia 630 and <span style="color: #25a7d7;"><span style="box-sizing: border-box;">635</span></span> were announced just weeks before the deal officially closed during <span style="color: #25a7d7;"><span style="box-sizing: border-box;">Build 2014</span></span>.</div> <div style="background-color: white; box-sizing: border-box; color: #222222; font-family: 'Helvetica Neue', Arial, sans-serif; font-size: 15px; line-height: 1.7em; margin-bottom: 0.7em;"> The 530 will start rolling out globally to select markets in August and will sell for less than €100 at its release (under $135). An official U.S. release date and pricing was not announced, but in June, <span style="color: #25a7d7;"><span style="box-sizing: border-box;">Evleaks</span></span> said the 530 would hit T-Mobile mid-summer and come to Cricket in the fall.</div> <figure class="medium right" style="background-color: white; box-sizing: border-box; color: #222222; float: right; font-family: 'Helvetica Neue', Arial, sans-serif; font-size: 15px; line-height: 21px; margin: 0px 0px 5px 10px; max-width: 300px; overflow: hidden;"><span style="color: #999999; font-family: facitweb, sans-serif; font-size: 12px; line-height: 1.7em; text-align: center;">.</span></figure><div style="background-color: white; box-sizing: border-box; color: #222222; font-family: 'Helvetica Neue', Arial, sans-serif; font-size: 15px; line-height: 1.7em; margin-bottom: 0.7em;"> The 530 features a 4-inch display with 854-by-480 resolution at 246 pixels per inch, a slight upgrade from the 800-by-480 display on the 520/525. Under the hood the 530 comes with a 1.2GHz quad-core Qualcomm Snapdragon 200 processor and 4GB onboard storage. That's not much in terms of memory, but the handset also has a microSD slot that can hold another 128GB, and you'll get an extra 15GB free OneDrive storage as well.</div> <div style="background-color: white; box-sizing: border-box; color: #222222; font-family: 'Helvetica Neue', Arial, sans-serif; font-size: 15px; line-height: 1.7em; margin-bottom: 0.7em;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRbZV0TInQh42GsDEns-fJWp_sS8GQM-TFnTcIEW_PCRHTIZmltNP0ZcGEGgeA3_kqM1YwZUd26Di7I8-hL1dRAFwNWs7TZ1nog2h4b9qCK94xZeDbBRKGtZmgoKq1IEzIC675AbdyA2Q/s1600/lumia630.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRbZV0TInQh42GsDEns-fJWp_sS8GQM-TFnTcIEW_PCRHTIZmltNP0ZcGEGgeA3_kqM1YwZUd26Di7I8-hL1dRAFwNWs7TZ1nog2h4b9qCK94xZeDbBRKGtZmgoKq1IEzIC675AbdyA2Q/s1600/lumia630.jpg" width="320" /></a>The biggest differentiator between the 520-era budget phones and the 530 is that the phone will come in single and dual SIM versions. Just like its predecessors, the 530 lacks a front-facing camera and has a 5 megapixel rear camera; however, the 530's camera has a longer minimum focus range of 60cm, compared to 10cm on the 520/525.</div> <div style="background-color: white; box-sizing: border-box; color: #222222; font-family: 'Helvetica Neue', Arial, sans-serif; font-size: 15px; line-height: 1.7em; margin-bottom: 0.7em;"> The rest of the 530's feature set is about what you'd expect: Bluetooth 4.0, 802.11b/g/n Wi-Fi, and <span style="color: #25a7d7;"><span style="box-sizing: border-box;">Windows Phone 8.1</span></span>. There's also a 1430 mAh battery with a claim of 8.5 hours of Wi-Fi network browsing time (max).</div> <div style="background-color: white; box-sizing: border-box; color: #222222; font-family: 'Helvetica Neue', Arial, sans-serif; font-size: 15px; line-height: 1.7em; margin-bottom: 0.7em;"> Along with the 530, Nokia also announced a new smartphone accessory called the Bang mini speaker. Designed by Coloud, the Bang mini speaker is battery-powered, rechargeable, and claims a maximum 8 hours of playing time. You can also daisy chain multiple speakers for more sound. The Bang mini speaker will debut in the coming weeks with an asking price of €19 (about $25).</div> <br />

Microsoft announces the low-cost Nokia Lumia 530

After it was first  tipped in early March  by Evleaks, Microsoft-owned Nokia announced the Lumia 530  on Wednesday. The budget-grade 3G...

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Owner demands Rs. 80mn for Dilip Kumar’s Pakistan home

<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtdl3r0_TNpQb_dPzl9zS6Jk1l15fEzkDJng2-uW0_BlpMIM4szEQuZBFrfLPVi6tgj7TQoCVS0VQBLOvwp9hVPmX1RaU2m5y0Uk409o9l0PPGqL-fo7J9AX8xRxOivdr8GmVLqdOkq8k/s1600/09149ec8-f34f-41d5-a91a-c3dc33f04544wallpaper1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtdl3r0_TNpQb_dPzl9zS6Jk1l15fEzkDJng2-uW0_BlpMIM4szEQuZBFrfLPVi6tgj7TQoCVS0VQBLOvwp9hVPmX1RaU2m5y0Uk409o9l0PPGqL-fo7J9AX8xRxOivdr8GmVLqdOkq8k/s1600/09149ec8-f34f-41d5-a91a-c3dc33f04544wallpaper1.jpg" /></a></div> <span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">The current owner of Dilip Kumar’s family house in Peshawar, Akram Ullah, has demanded for </span><span class="WebRupee" style="background-color: white; font-family: MyFont, MyFont_IE; font-size: 12px;">Rs. </span><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">80 million, post the four-marla house was announced as a </span><span style="color: #0066b3; font-family: Arial, Tahoma, Verdana;"><span style="background-color: white; font-size: 12px;">national ­heritage</span></span><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;"> by Pakistan’s Prime Minister Nawaz Sharif, ­recently. </span><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">An official of the KP Culture Department had informed that the provincial government wanted to buy and reconstruct the house, even before the Prime Minister’s declaration. </span><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">The official added that Ullah had initially demanded </span><span class="WebRupee" style="background-color: white; font-family: MyFont, MyFont_IE; font-size: 12px;">Rs. </span><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">35 million, but after the ­declaration, he went for an unreasonable </span><span class="WebRupee" style="background-color: white; font-family: MyFont, MyFont_IE; font-size: 12px;">Rs. </span><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">80 million, at which the provincial ­government, that had offered only </span><span class="WebRupee" style="background-color: white; font-family: MyFont, MyFont_IE; font-size: 12px;">Rs. </span><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">20 million, warned him that they could just take the ­property by law as it was already declared to be a ­national heritage.  </span><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">As per Shakeel Waheed Ullah, ­secretary ­general, Cultural Heritage Council, though Akram is the legal owner of the house, after the 18th Amendment, acquiring the house was the ­responsibility of the ­provincial government and should be taken at the earliest since the residence was in a deplorable condition and could collapse any time.</span><br /> <span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;"><br /></span>

Owner demands Rs. 80mn for Dilip Kumar’s Pakistan home

The current owner of Dilip Kumar’s family house in Peshawar, Akram Ullah, has demanded for  Rs.  80 million, post the four-marla house was...

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Apple iPhone 6 models with bigger screens on the way, reports say

<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvPt8UEN6H4jr4C6tgioE4-qAmg9VPNU20QzFR95nkyu-1mUDkoh9LDeEGgN3NGEIivEbNDvhacBfdMlL3HsRkm0WTNRzSenNgzYFCDlUHGCs_u8DYoclPZCIjRWWJ1iSIn2jjLlhf5Pk/s1600/samsung-galaxy-5-iphone-5.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvPt8UEN6H4jr4C6tgioE4-qAmg9VPNU20QzFR95nkyu-1mUDkoh9LDeEGgN3NGEIivEbNDvhacBfdMlL3HsRkm0WTNRzSenNgzYFCDlUHGCs_u8DYoclPZCIjRWWJ1iSIn2jjLlhf5Pk/s1600/samsung-galaxy-5-iphone-5.jpg" /></a></div> <div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;"> <br /></div> <div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;"> Apple is expected to release the next generation of its smartphone, the iPhone 6, which is rumoured to have a larger screen size.</div> <div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;"> <span style="color: #115278;"><b>The Wall Street Journal</b></span> reported Tuesday that Apple has asked its suppliers to produce "between 70 million and 80 million units combined" of the devices, with 4.7-inch and 5.5-inch screens, by Dec. 30. The paper cited "people familiar with the matter."</div> <div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;"> The report is consistent with images and videos of the "iPhone 6" leaked in recent months on technology websites that suggested Apple is making new models with bigger screens than the<span style="color: #115278;"><b> </b></span>4-inch iPhone 5, which was released in 2012. That model was replaced with the <span style="color: #115278;"><b>iPhone 5C and iPhone 5S</b></span> in 2013.</div> <ul style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem; margin-top: 0px; padding-left: 3em;"> <li style="list-style: none outside none; margin-bottom: 0.5em; margin-left: -1em; padding-left: 0.75em; position: relative;"><span style="color: #115278;"><b>Apple launches bigger, lighter iPhone 5</b></span></li> <li style="list-style: none outside none; margin-bottom: 0.5em; margin-left: -1em; padding-left: 0.75em; position: relative;"><span style="color: #115278;"><b>Apple unveils 2 new iPhones, including cheaper model</b></span></li> </ul> <div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;"> Sites such as <span style="color: #115278;"><b>MacRumours</b></span>, <span style="color: #115278;"><b>TechRadar</b></span> and <span style="color: #115278;"><b>AppleInsider</b></span> say they expect the new smartphones to be released in September, although there are some who suggest the larger, "phablet" model may be released later.</div> <ul style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem; margin-top: 0px; padding-left: 3em;"> <li style="list-style: none outside none; margin-bottom: 0.5em; margin-left: -1em; padding-left: 0.75em; position: relative;"><span style="color: #115278;"><b>Are phablets really here to stay?</b></span></li> </ul> <div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;"> Some of Apple's competitors already make larger screen models.</div> <div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;"> One of them, Samsung, released a new ad this week, poking fun at Apple's rumoured larger-screen iPhones.</div> <div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;"> <span style="color: #115278;"><b>The ad for the Galaxy S5</b></span>, which has a 5.1-inch screen, is titled "screen envy," and features a man with an iPhone asking a friend with a Galaxy S5 if he's heard a rumour that iPhone might be getting a bigger screen.</div> <div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;"> A voiceover goes on to suggest that iPhone users have been waiting "for like two years," and that, in fact, the Galaxy S5 is "everything you've been waiting for."</div>

Apple iPhone 6 models with bigger screens on the way, reports say

Apple is expected to release the next generation of its smartphone, the iPhone 6, which is rumoured to have a larger screen size. The...

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Monetary policy of Pakistan: SBP keeps interest rate constant at 10% again

<div> <strong class="location"> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLgBKGS-dH0ExrKLFIHVgoc9mBoyxLVBUqSb3vBH_ypDOkzqKe-LtgYbPGg2p45Ej1MmdPPhLuPBGFHmxL4b7-qoCDdAVsFgW7yxcUVDF72QLqMi0Cox-0Vndj-PmQUaVlxXb5ZshPWxI/s1600/738032-Rupees-1405790529-622-640x480.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLgBKGS-dH0ExrKLFIHVgoc9mBoyxLVBUqSb3vBH_ypDOkzqKe-LtgYbPGg2p45Ej1MmdPPhLuPBGFHmxL4b7-qoCDdAVsFgW7yxcUVDF72QLqMi0Cox-0Vndj-PmQUaVlxXb5ZshPWxI/s1600/738032-Rupees-1405790529-622-640x480.JPG" /></a></div> </strong></div> <div> <strong class="location">KARACHI: </strong> <strong>In line with market expectations, the State Bank of Pakistan (SBP) decided on Saturday to keep the monetary policy rate unchanged at 10%.</strong><br /> </div> Addressing a press conference at the central bank’s head office, SBP Governor Ashraf Mahmood Wathra painted a rosy picture of the economy by saying that conditions at the beginning of 2014-15 are ‘certainly better’ than a year ago.<br /> The monetary policy rate, which is announced every two months, is the interest rate at which commercial banks are allowed to borrow from the central bank’s discount window. The central bank uses this tool to control inflation by changing the level of money supply in the economy.<br /> The SBP has its reasons to be optimistic about the economy. Stability is finally returning to the foreign exchange market, with the SBP-held foreign exchange reserves amounting to $9.4 billion on July 11.<br /> Similarly, the average Consumer Price Index (CPI) inflation in 2013-14 remained in single digits (8.6%) for the second consecutive year, with the SBP expecting the CPI to clock up at 7.5%-8.5% in 2014-15.<br /> Compared to 15.9% in 2012-13, the year-on-year growth in broad money decelerated to 12.5% in 2013-14, which is the lowest monetary expansion during the last three years.<br /> Higher external inflows starting in February also substituted part of government borrowings from the banking system. Government borrowings for budgetary support from the banking system clocked up at Rs303 billion in 2013-14, which is only 21% of Rs1,446 billion borrowed in 2012-13.<br /> Yet the SBP’s central board of directors chose to keep the rate flat for the next two months, saying ‘challenges and vulnerabilities remain’.<br /> No wonder many observers have raised questions about the autonomy of the SBP when it comes to bi-monthly discount rate revisions.<br /> <strong>A question mark over independence</strong><br /> Speaking to <em>The Express Tribune,</em> Topline Securities CEO Mohammad Sohail said it was difficult to understand the SBP’s rationale to maintain the discount rate at 10%. “All fundamentals are in favour of a reduction in the interest rate,” he said referring to the CPI, foreign exchange reserves and government borrowings. “It looks like some other force is stopping the SBP board from taking the rate cut decision.”<br /> Replying to a question about the perceived lack of autonomy, the SBP governor said the central bank functioned free from any external pressure. “The SBP central board of directors is fairly independent. We believe we have autonomy in deciding the monetary policy and have no issues there.”<br /> <img alt="" src="http://i1.tribune.com.pk/wp-content/uploads/2014/07/monetary-policy-e1405783064638.jpg" />

Monetary policy of Pakistan: SBP keeps interest rate constant at 10% again

  KARACHI:  In line with market expectations, the State Bank of Pakistan (SBP) decided on Saturday to keep the monetary policy rate un...

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Man sues makers of “Call Of Duty” for portraying him in negative role

<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEimi3Cw3bclLTA5_OIOKTRb3O6E7WNYsCF49Lp_Lv1hHeHIT7QtfYSYfcVZ0HsbKzjAWbFOET5URitZoX5A8dpEQDofWs3Z9-LvNLjCix5X7yy_utEqD5_-lVjpOeoalcqVnBI7uHSjrHQ/s1600/lead_large.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEimi3Cw3bclLTA5_OIOKTRb3O6E7WNYsCF49Lp_Lv1hHeHIT7QtfYSYfcVZ0HsbKzjAWbFOET5URitZoX5A8dpEQDofWs3Z9-LvNLjCix5X7yy_utEqD5_-lVjpOeoalcqVnBI7uHSjrHQ/s1600/lead_large.jpg" /></a></div> <br /> <strong>US: Former dictator and drug lord sues makers of the Call Of Duty (video game) for portraying him a negative light.</strong> <br /> According to the media reports, the makers of the most popular game  franchise are being sued by the incarcerated criminal for portraying him as a ‘kidnapper, murderer and enemy of the state’ in Call Of Duty: Black Ops II.<br /> It is reported that the game features a nefarious character named Manuel Noriega who double crosses the CIA in Panama while murdering plenty of his own forces and others along the way.<br /> It is reported that the drug is sentenced 30-years in prison for money laundering and drug trafficking but he sued company for portraying him a negative role in the video game.<br /> In his lawsuit, brought before the Los Angeles Superior Court, Noriega states that the game publisher Activation Blizzard should be forced to pay him royalties because the ‘heighten[ed] realism’ of using real people ‘translates directly into heightened sales for the defendants.<br /> It appears that despite his negative portrayal he is in fact suing the publisher for unjust enrichment, unfair business practices, and violation of common-law publicity rights.

Man sues makers of “Call Of Duty” for portraying him in negative role

US: Former dictator and drug lord sues makers of the Call Of Duty (video game) for portraying him a negative light. According to the me...

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SBP to announce monetary policy today

<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiJk3NZlJp_CmU8UieQYDlXPHW9rFixWBD2BZxwructhLABHd0Kr_LvemRHk25MA2-tjqsB1SAhm-8yBPvWiqncMTJvPauqYVfl940gW4tnA-I3Y9zCAK1tCvI9cpLgGbW-VbC2DIUsq0k/s1600/pakistan-statebank-monetrypolicy_7-19-2014_154306_l.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiJk3NZlJp_CmU8UieQYDlXPHW9rFixWBD2BZxwructhLABHd0Kr_LvemRHk25MA2-tjqsB1SAhm-8yBPvWiqncMTJvPauqYVfl940gW4tnA-I3Y9zCAK1tCvI9cpLgGbW-VbC2DIUsq0k/s1600/pakistan-statebank-monetrypolicy_7-19-2014_154306_l.jpg" /></a></div> <span id="ctl00_ContentPlaceHolder1_lblNewsDetailMain"></span><br /> <b>KARACHI: The State Bank of Pakistan (SBP) to announce its first bi-monthly monetary policy of the new fiscal year on Saturday here, Geo News reported. </b><br /> <br /> The central bank is expected to keep the current discount rate at 10 percent unchanged, the analysts predict.<br /> <br /> Analysts said that the indicators like over $14 billion foreign exchange reserves, appreciation of rupees against dollar by 8 percent from the beginning of the current year and 71 percent reduction in local borrowings of the government during previous fiscal year suggest a cut in current discount rate, but IMF string to keep inflation in control forcing SBP to keep it unchanged at 10 percent.<br /> <br /> Besides, some analysts suggest that the central bank in determining the discount rate should adopt a careful attitude in the backdrop of price-hikes of essential commodities during the month of Ramazan <br /> <br /> On the other hand, some analysts are of the opinion that since the private sector during previous fiscal year availed Rs348 billion of loans—a positive indicator and if the central bank slashes the discount rate by ½ percent it would help promote the private sector development efforts. <br />

SBP to announce monetary policy today

KARACHI: The State Bank of Pakistan (SBP) to announce its first bi-monthly monetary policy of the new fiscal year on Saturday here, Geo...

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McDonald’s Restaurants Becoming Popular Wedding Venues in Hong Kong

<div dir="ltr" style="background-color: white; color: #5b6265; font-family: arial; font-size: 12px; line-height: 20px;"> More and more young couples in Hong Kong are turning to McDonald’s fast-food restaurants to fit their shoestring wedding budgets. With prices starting as low as $350 per wedding, the place is pretty much a steal – the deal includes the venue, decorations, audio equipment, food, gifts and invitations. The dream wedding has only one drawback – years later, couples will have to tell their kids that they got married at McDonald’s.</div> <div dir="ltr" style="background-color: white; color: #5b6265; font-family: arial; font-size: 12px; line-height: 20px;"> Surprisingly, not many couples are bothered by this. The demand for McDonald’s weddings is growing in Hong Kong – the wedding party program that was started in three locations in 2011, has now been extended to 15 branches. And, believe it or not, it’s not just about the money, there’s a sentimental value associated with getting hitched at McDonald’s.</div> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGVyz7l9-5a7rRymEet3Pdo0CETymXnMbrdFCPM3wqKZ0icUp19Os9fKTts48Zq6pxW2-yzLhv-Nt1vjOJR3VLnQ7a2mPkIaWeol2ei3b4O3FpDtEa6hxfwKs62GaJ7pHNiE-3J7-RlNA/s1600/Mcdonalds-wedding2-550x365.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGVyz7l9-5a7rRymEet3Pdo0CETymXnMbrdFCPM3wqKZ0icUp19Os9fKTts48Zq6pxW2-yzLhv-Nt1vjOJR3VLnQ7a2mPkIaWeol2ei3b4O3FpDtEa6hxfwKs62GaJ7pHNiE-3J7-RlNA/s1600/Mcdonalds-wedding2-550x365.jpg" /></a></div> <div class="separator" style="clear: both; text-align: center;"> <span style="background-color: white; color: #5b6265; font-family: arial; font-size: 12px; line-height: 20px; text-align: left;">“We started the program because many customers tell us that McDonald’s is where they first started dating,” a company spokesperson explained. “McDonald’s is where their love stories grew. This connection is exactly why they want to hold their wedding parties and even anniversary parties at McDonald’s – to relive sweet beginnings and bring their romantic story full circle.” Apart from weddings, engagement parties and bridal showers are also often held at these 15 branches.</span></div> <br /> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXpuWqLEI_2UCNZxnhClXITB7hEjF4vEf9QoqxxRmgec_HTz4PNKtffv24rt_bLnCbzNTE_x63CtwIJ8GELPBOXCiJq8pZS0yMbN9P5E8yDEfkro7wtMYUpoam7_sGj2fWVyVkRNRbPcw/s1600/Mcdonalds-wedding-550x422.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXpuWqLEI_2UCNZxnhClXITB7hEjF4vEf9QoqxxRmgec_HTz4PNKtffv24rt_bLnCbzNTE_x63CtwIJ8GELPBOXCiJq8pZS0yMbN9P5E8yDEfkro7wtMYUpoam7_sGj2fWVyVkRNRbPcw/s1600/Mcdonalds-wedding-550x422.jpg" /></a></div> <div class="separator" style="clear: both; text-align: center;"> <span style="background-color: white; color: #5b6265; font-family: arial; font-size: 12px; line-height: 20px; text-align: left;">“Our Wedding Party packages have just everything you need, including venue decoration, customized games and special gifts for bride & groom and your guests,” McDonald’s Hong Kong write on their website. “Everything will be taken care of by McDonald’s. All you need to do is be there and enjoy the moment of your lifetime.”</span></div> <br /> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjft3W5vyCci6_2O36nIXTG1kl7f_fVZ_Ln-IlPnIqpS_ve4xiOiKvAWxlcmEyb_6ozE4BX1Vj2WvEZcTOvug8YGivpDsrj0SzA08Bu9wydWTpi3PY0hKt1Jf2qM-xU1KhdObZleixtGL8/s1600/Mcdonalds-wedding3-550x416.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjft3W5vyCci6_2O36nIXTG1kl7f_fVZ_Ln-IlPnIqpS_ve4xiOiKvAWxlcmEyb_6ozE4BX1Vj2WvEZcTOvug8YGivpDsrj0SzA08Bu9wydWTpi3PY0hKt1Jf2qM-xU1KhdObZleixtGL8/s1600/Mcdonalds-wedding3-550x416.jpg" /></a></div> <div class="separator" style="clear: both; text-align: left;"> <br /></div> <div class="separator" style="clear: both; text-align: center;"> <span style="background-color: white; color: #5b6265; font-family: arial; font-size: 12px; line-height: 20px; text-align: left;">The wedding program includes four packages to suit every budget – the most expensive one – the ‘Love Forever Party’ – costs HK$9,999 (US$1,290) and the cheapest one – the ‘Happiness Party’ – is HK$2,888 (US$372). The Love Forever package includes a decorated venue rental for two hours, wedding presents, a pair of McDonald’s balloon wedding rings, a bridal bouquet, an apple pie cake display, a Crystal McDonald’s house, an MC, invites, food worth HK $3,000 and seating for 50 guests.</span></div> <div dir="ltr" style="background-color: white; color: #5b6265; font-family: arial; font-size: 12px; line-height: 20px;"> <br /></div>

McDonald’s Restaurants Becoming Popular Wedding Venues in Hong Kong

More and more young couples in Hong Kong are turning to McDonald’s fast-food restaurants to fit their shoestring wedding budgets. With pric...

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China industrial output up 9.2 percent on-year in June: govt

<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4TTNeSx7OkxU4PkKcwuDx-UisJDkGPTC-DiZu1uKWCnjkM1xmtNzwBB48-5gZKwx4vA-h95R0xaMPM3szcsCPk8eJ6HLMS3nbHyp3qXrIyTSH_rxUJPbcycIeA13_fAY0yQOBvtFCF8w/s1600/china-business_7-16-2014_153971_l.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4TTNeSx7OkxU4PkKcwuDx-UisJDkGPTC-DiZu1uKWCnjkM1xmtNzwBB48-5gZKwx4vA-h95R0xaMPM3szcsCPk8eJ6HLMS3nbHyp3qXrIyTSH_rxUJPbcycIeA13_fAY0yQOBvtFCF8w/s1600/china-business_7-16-2014_153971_l.jpg" /></a></div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> <b style="background: transparent; border: 0px; font-size: 15px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">BEIJING: China´s industrial production, which measures output at factories, workshops and mines in the world´s second-largest economy, rose 9.2 percent year-on-year in June, the government announced Wednesday.</b></div> <div class="separator" style="clear: both; text-align: left;"> <em style="background: rgb(255, 255, 255); border: 0px; color: #5e6066; font-family: 'open sans', Helvetica, Arial, sans-serif; font-size: 12px; line-height: 20px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><span id="ContentPlaceHolder1_lblDetail" style="background: transparent; border: 0px; font-style: normal; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"></span></em></div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> Retail sales, a key indicator of consumer spending, increased 12.4 percent in the same month, the National Bureau of Statistics said, while fixed asset investment, a measure of government spending on infrastructure, rose 17.3 percent on-year in the first six months of the year.</div> <br />

China industrial output up 9.2 percent on-year in June: govt

BEIJING: China´s industrial production, which measures output at factories, workshops and mines in the world´s second-largest economy, ro...

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Dollar rises in Asia

<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLYvN8jLJwApGDkTgE30PIHbSNnlX5slkOwRIU0sO3RaW4D4nO6nfOyxqSCRyQO7y7jgB9sXSNT7cW-GT1fPzLpkDijcstIunSb9ZBPBL_cqhPYISoA4PzmZFBdPJBIy_8EG6ihyphenhyphenRrzIk/s1600/Dollar_7-16-2014_153990_l.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLYvN8jLJwApGDkTgE30PIHbSNnlX5slkOwRIU0sO3RaW4D4nO6nfOyxqSCRyQO7y7jgB9sXSNT7cW-GT1fPzLpkDijcstIunSb9ZBPBL_cqhPYISoA4PzmZFBdPJBIy_8EG6ihyphenhyphenRrzIk/s1600/Dollar_7-16-2014_153990_l.jpg" /></a></div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> <b style="background: transparent; border: 0px; font-size: 15px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><br /></b></div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> <b style="background: transparent; border: 0px; font-size: 15px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">TOKYO: The dollar rose in Asia on Wednesday as the head of the US Federal Reserve indicated that interest rates could rise earlier than expected if the world´s biggest economy continues to pick up pace.</b></div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> In Tokyo afternoon trade, the dollar bought 101.73, up a tad from 101.67 yen late in New York and 101.50 yen in Tokyo earlier Tuesday.</div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> The euro bought $1.3561 and 137.97 yen, little changed from $1.3570 and 137.97 yen in US trade.</div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> Fed chief Yellen told lawmakers in Capitol Hill Tuesday that the bank would keep its ultra-low rates in place but could implement increases "sooner and be more rapid than currently envisioned" if the jobs market strengthens further.</div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> The latest data from the Labor Department showed the world´s number one economy added far more jobs than expected in June, while the unemployment rate dipped.</div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> But she added that the direction of rates "likely would be more accommodative than currently anticipated" if economic performance is disappointing.</div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> Markets expect the first rate hike to come in the middle of next year, and Yellen said it would be "sometime in 2015".Capital Economics said in a note that "the Fed appears to be in no rush to begin normalising interest rates, even though the pace of jobs growth has accelerated and the unemployment rate has fallen to 6.1 percent".</div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> But it added that it expected hikes to start by March.The dollar was mostly higher against other Asia-Pacific currencies.</div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> It firmed to Sg$1.2436 from Sg$1.2431 on Tuesday, to 60.21 Indian rupees from 60.17 rupees, and to 1,032.70 South Korean won from 1,026.26 won.</div> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> It also rose to 43.61 Philippine pesos from 43.59 pesos, and to Tw$30.01 from Tw$30.00, while it was flat at 11,758.80 Indonesian rupiah and it slipped to 32.17 Thai baht from 32.18 baht.</div> <em style="background: rgb(255, 255, 255); border: 0px; color: #5e6066; font-family: 'open sans', Helvetica, Arial, sans-serif; font-size: 12px; line-height: 20px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><span id="ContentPlaceHolder1_lblDetail" style="background: transparent; border: 0px; font-style: normal; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"></span></em><br /> <div style="background: transparent; border: 0px; color: #333333; font-family: Georgia, Century, Times, serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 21px; margin: 0px 0px 15px; outline: 0px; padding: 0px; vertical-align: baseline;"> The Australian dollar edged down to 93.38 US cents from 93.90 cents, while the Chinese yuan fetched 16.38 yen against 16.33 yen.</div>

Dollar rises in Asia

TOKYO: The dollar rose in Asia on Wednesday as the head of the US Federal Reserve indicated that interest rates could rise earlier than...

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Oil prices mixed

<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjhb7iAKUeOM7-q-ArNWNeQZ34A2JeFuSgYK3-cohKWT-gN-18xbGqik29HA6wlKHPqwvqwvvcEEJ0yqI0F3D8DVni4c6EuuWPDKVBOcTGmPVlSR9wJowiHjJFyM0LDYbvUxX3ZRqDz4u4/s1600/oil-prices_7-15-2014_153856_l.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjhb7iAKUeOM7-q-ArNWNeQZ34A2JeFuSgYK3-cohKWT-gN-18xbGqik29HA6wlKHPqwvqwvvcEEJ0yqI0F3D8DVni4c6EuuWPDKVBOcTGmPVlSR9wJowiHjJFyM0LDYbvUxX3ZRqDz4u4/s1600/oil-prices_7-15-2014_153856_l.jpg" /></a></div> <div style="background-color: white; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; padding: 0px;"> <b><br /></b></div> <div style="background-color: white; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; padding: 0px;"> <b>SINGAPORE: Oil prices were mixed in Asia Tuesday as investors await congressional testimony by the US central bank chief for fresh clues about the state of the world´s biggest economy, analysts said.</b></div> <div style="background-color: white; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; padding: 0px;"> <br /></div> <div style="background-color: white; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; padding: 0px;"> US benchmark West Texas Intermediate for August delivery rose one cent to $100.92 while Brent crude for August eased 18 cents to $106.80 in late-morning trade.</div>

Oil prices mixed

SINGAPORE: Oil prices were mixed in Asia Tuesday as investors await congressional testimony by the US central bank chief for fresh clue...

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