Voting starts in US polls expected to deal rebuke to Obama

WASHINGTON: Americans began voting Tuesday in key legislative elections expected to deal a stinging defeat to President Barack Obama, with Republicans poised to take full control of Congress by wresting the Senate from his Democrats.

The party of an incumbent US president historically fares badly in elections in the middle of his second term, and this time is expected to be no different for Obama.

Many Republicans have essentially based their campaigns on attacks against the president and his policies, particularly his health care plan. Many Democrats even avoided including the president in their campaign rallies and photo ops.

Read More

Sale of 10pc OGDCL shares from Wednesday

ISLAMABAD: The sale of 10 percent shares of Oil and Gas Development Company Limited (OGDCL) will begin from Wednesday.

The government is expected to generate Rs750 million from the partial privatization of OGDCL, which it intends to use in paying off the loan to

the International Monetary Fund

Read More

Hong Kong shares climb 0.92 percent at open

HONG KONG: Hong Kong shares rallied 0.92 percent in the opening exchanges Wednesday following a third straight day of hefty gains on Wall Street.

Read More

Dollar eases in Asia after weak China data

TOKYO: The dollar slipped in Asia on Tuesday as weak Chinese growth data rekindled concerns about the global economy.

In Tokyo afternoon trading, the greenback slipped to 106.40 yen from 106.92 yen in New York.

The euro rose to $1.2820 from $1.2800, while it weakened to 136.54 yen from 136.86 yen.

The yen, seen as a safe bet in times of uncertainty, after China said its economy expanded 7.3 percent year-on-year in July-September, its slowest since 2008 at the depths of the global financial crisis..

Read More

Oil prices mixed as caution returns

SINGAPORE: Oil prices were mixed in Asian trade Tuesday as caution returned after a weak rally spurred by upbeat industrial production data from China, the world´s top energy consuming nation, analysts said.

US benchmark West Texas Intermediate for November delivery advanced 30 cents to $83.01 a barrel in afternoon trade, but Brent crude for December reversed earlier gains and fell three cents to $85.37.

Daniel Ang, investment analyst with Phillip Futures in Singapore, said investors were cheered after China said industrial production, which measures output at factories, workshops and mines, rose 8.0 percent year-on-year in September. That was a rebound from a more than five year low of 6.9 percent in August.

Read More