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Author Archives: CT Report

13,800-year-old engravings show 1st illustration of social group among our Paleolithic ancestors

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HONG KONG: A schist slab discovered in 2013 bore 13,800-year-old carvings depicting campsites of hunter-gatherers. Researchers Marcos García-Diez and Manuel Vaquero believe that the engravings show the first illustration of a social group among our Paleolithic ancestors. The slab was discovered at the Molí del Salt site in northeastern Spain. It bears seven semicircular carvings with internal lines organized in ... Read More »

HST spotted magnified image of faintest galaxy

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BRENT: NASA says its Spitzer and Hubble space telescopes, working in cosmos-observing tandem, have spotted the magnified image of the faintest galaxy ever from the very early universe. The object, from around 400 million years after the birth of the universe in the Big Bang, is an example of a small, faint class of newly-forming galaxies that have largely evaded ... Read More »

Appraisement-East collects Rs 26 billion in November

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Collector Tariq Huda’s Preventive collects Rs 44.831b in Nov

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South Korean won plunges most among Asian currencies

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SEOUL: The won declined the most among Asian currencies as global funds sold South Korean stocks after a jobs report supported bets the U.S. will increase interest rates next week for the first time in almost a decade. Overseas investors were net sellers of local shares for a fourth day following data on Friday that showed American employers added more ... Read More »

211 new development projects worth Rs1,675b added to PSDP

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ISLAMABAD: As many as 211 new development projects have been included in the current financial year’s federal Public Sector Development Programme (PSDP) to achieve the targeted GDP growth. According to the media reports, the sources in the Ministry of Planning and Development said that Rs241 billion have been allocated for these projects against the estimated cost of Rs1,675 billion. In ... Read More »

Scientists detect magnetic field Just Outside black hole at Milky Way center

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WASHINGTON: For the first time ever, scientists were able to detect a magnetic field just outside the event horizon of the black hole at the Milky Way center, known as Sgr A* (Sagittarius A-star). The majority of people believe that black holes are massive vacuum machine-like cosmic objects that engulf everything that comes close to them. The truth is that ... Read More »

U.S sees decrease in construction machine exports

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WASHINGTON: Exports of US construction equipment are still in decline according to the latest Association of Equipment Manufacturers (AEM) market update. The AEM report shows that exports of US-made construction equipment dropped 17.6% for the first three quarters of 2015 compared to January-September 2014, for a total $10.8 billion shipped worldwide. All world regions experienced declines, led by Africa and ... Read More »

Researchers unveil secrets of Aussie ‘resurrection’ grass

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LONDON: A native Australian grass that “plays dead” during droughts and selectively culls its own cells to survive could provide genetic keys to help world food crops like chickpea withstand global climate change. QUT researchers have been studying the native grass, Tripogon loliiformis, because of its amazing ability to survive extreme environmental stresses. Like other so-called ‘resurrection plants’, the grass ... Read More »

Study exposes new details on matters that make up the Universe

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HONG KONG: Matter as we know it – or that which composes everything known – is a mere 5 percent of the great and mighty universe, and about half of that is still undetected. Researchers from the University of Geneva and the Ecole polytechnique fédérale de Lausanne (EPFL) found that a major part of the ordinary matter unaccounted for is ... Read More »

Australian dollar jumps after US jobs data

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SYDNEY: The Australian dollar is higher after US data showed a stronger than expected rise in the number of people with jobs in the world’s largest economy. At 7.21am (AEDT), the currency was trading at US72.39 cents, up from US73.30 cents on Friday. Meanwhile, European Central Bank president Mario Draghi, speaking in New York, said there was no limit to ... Read More »

China’s yuan falls agianst USD

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  SHANGHAI: China’s yuan fell against the dollar on Monday after the central bank set a weaker midpoint to reflect dollar strength on rising expectations of a US interest rate hike this month. “Dollar demand in the market was higher than supply as investors expected the dollar to strengthen further,” said a trader at a Chinese commercial bank in Shanghai. ... Read More »

US dollar stables above 123yen in early trade

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LONDON: The U.S. dollar remained steady above the 123 yen line Monday morning in Tokyo after upbeat U.S. payrolls data bolstered the case for the Federal Reserve to raise interest rates this month. At noon, the dollar fetched 123.30-31 yen compared with 123.04-14 yen in New York and 122.77-78 yen in Tokyo at 5 p.m. Friday. Read More »

New Zealand dollar retreats against major currencies in Asian trade

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WELLINGTON: The New Zealand dollar weakened against the other major currencies in the Asian session on Monday. The NZ dollar fell to 0.6699 against the U.S. dollar and 82.57 against the yen, from Friday’s closing quotes of 0.6743 and 83.01, respectively. Against the euro and the Australian dollar, the kiwi dropped to 1.6208 and 1.0939 from last week’s closing quotes ... Read More »

Banking sector’s profit soars by 19% in Q3

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LAHORE: The country’s banking sector’s profit soared by 19 per cent to Rs46.6 billion in third quarter of current calendar year 2015, mainly due to 19 per cent growth in net interest income (NII). Amongst top banks, Bank Alfalah (BAFL), Habib Bank (HBL) and United Bank (UBL) enjoyed the highest profitability growth of 67 per cent, 38 per cent and ... Read More »

Indian rupee surges 7 paisa against US dollar

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MUMBAI: The Indian rupee was trading higher by 7 paise at 66.62 against the US dollar in early trade on fresh selling of the American currency by exporters and banks. Forex dealers said a strong opening in domestic equity markets too supported the rupee, but dollar’s strength against other currencies overseas on upbeat US jobs report capped gains. The rupee ... Read More »

KDS Accessories to import machinery of $1.6 mln

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WASHINGTON: KDS Accessories will import capital machinery worth $1.6 million (about Tk 12.50 crore) to set up a new packaging unit as part of its business expansion plan. The board of directors of the company took the decision at a meeting while approving the expansion project, it said in a posting on the Dhaka Stock Exchange’s website yesterday. KDS Accessories, ... Read More »

Zimbabwe sets up special committee to review of Insolvency law

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HARARE: Zimbabwe has set up a special committee to fast-track the review of the Insolvency Act as part of measures to stimulate investment in the country. The legal reform is part of the on-going “ease of doing business” programme, which is spearheaded by the Office of the President and Cabinet in conjunction with the World Bank. In an interview on ... Read More »

Hong Kong stocks surge at open, Hang Seng soars 0.51%

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HONG KONG: Hong Kong stocks kicked off the week on an upbeat note, tracking gains in US markets on Friday following the release of the November jobs report that showed continuing labour market improvement. In early trades, the Hang Seng Index was up 0.51 per cent or 112.36 points at 22,348.25. The Hang Seng China Enterprises Index rose 0.56 per ... Read More »

Australian stocks set to open lower, S&P 200 down 76.1pts

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SYDNEY: The Australian market looks set to open flat despite solid gains on Wall Street following a decent US jobs report. At 0645 AEDT on Monday, the December share price index futures contract was unchanged at 5,155. US non-farm payrolls increased 211,000 in November, the US Labor Department said, while September and October data were revised to show 35,000 more ... Read More »