The rupee slipped against dollar, it, however, gained in terms of euro on the currency market on Saturday, money experts said. The rupee dropped by 13 paisa in relation to dollar for buying and selling at 84.33 and 84.38, they said. In the final Asian ses
The rupee slipped against dollar, it, however, gained in terms of euro on the currency market on Saturday, money experts said. The rupee dropped by 13 paisa in relation to dollar for buying and selling at 84.33 and 84.38, they said. In the final Asian ses
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Sluggish activity was seen on the wholesale grain and seed market on Saturday as most of the buyers were sidelined due to little buying interest, dealers said.
The May vaida was lower and July contract was inert on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The May vaida that had closed at Rs 1329.30 opened with 20 paisa loss at Rs 1329.10. The July contract which clos
Lean business was again witnessed on the cotton market on Saturday ginners did not lower the asking prices due to short crop, dealers said. Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 12,000, they said.
French analyst Strategie Grains on Thursday sharply raised its forecast for this year's maize crop in the European Union after farmers in central Europe opted to sow maize rather than barley whose crop forecast was lowered.
Palm oil producer Sampoerna Agro sees output climbing as much as 8 percent this year from 289,000 tonnes in 2010, while planting will jump by at least 10 percent, an official from the Indonesian firm said on Friday. A combination of maturing plantations a
The Karachi Port handled 58,268 tonnes of cargo including 31,672 tonnes of import cargo, 26,596 tonnes of export cargo and 1,824 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 31,672 tonnes compri
Argentine farmers made brisk progress on the 2010/11 soya harvest this week, thanks to dry weather, but yields are uneven due to excessive dryness earlier in the season, the Agriculture Ministry said on Friday. The ministry estimates this season's crop at
Cocoa grindings in Malaysia, Asia's largest grinder, rose 10.8 percent in the first quarter of 2011 from a year before, the Malaysian Cocoa Board said on Friday, similar to gains in North America and Germany. Fears that unrest in Ivory Coast could disrupt
Mexico's central bank warned that growth could begin to pressure inflation around mid-year even as it kept its benchmark interest rate low to help the economy. The central bank on Friday held its target rate for overnight lending between banks at 4.5 perc
Traffic at Abu Dhabi International Airport grew 9.4 percent in the first quarter of 2011 compared with the same period last year, the operating company said on Saturday. The United Arab Emirates capital's airport handled more than 2.8 million passengers i
China's monetary policy tightening will continue for some time as inflation remains higher than the government is comfortable with, and the yuan will be one of the tools used to fight it, the central bank governor said on Saturday.
China plans to support its integrated circuit sector as a strategically important industry over the next five years, aiming for over a fourth of microchips used in the country by 2015 to be made in China, Xinhua news agency said on Saturday.
Greek and Irish bond yields rose on Friday and were set to climb further on growing speculation Athens will eventually need to restructure its debt and after Moody's downgraded Ireland to just above junk status. Spanish bonds also underperformed at the 10
Greek and Irish bond yields rose on Friday and were set to climb further on growing speculation Athens will eventually need to restructure its debt and after Moody's downgraded Ireland to just above junk status. Spanish bonds also underperformed at the 10
Latin American stocks tracked their worst week in a month on Friday on continued uncertainty, though a major fund manager said Brazilian stocks had strong prospects beyond the short term. "I am bullish (on Brazil) in the medium to long term," said money m
Toronto's main stock index ended lower on Friday as concerns over US bank earnings hit financial stocks and rising global inflation rates hit miners. Toronto-Dominion Bank was down 0.85 percent at C$82.09, Canadian Imperial Bank of Commerce fell 1.4 perce
American International Group Inc says no one is willing to pay what its aircraft leasing business, ILFC, is worth, but a successful IPO by a new competitor created by ILFC co-founder Steven Udvar-Hazy could change all of that.
Turkish markets rose on Friday after Erdem Basci was named as the new central bank governor, an appointment analysts saw bringing continuity to monetary policy, and credit agency S&P affirmed Turkey's rating. By 1430 GMT the lira was firmer at 1.5146 agai
Nasdaq OMX Group Inc told investors it could sell NYSE Euronext's American Stock Exchange and offer a break-up fee to overcome antitrust concerns in its $11.3 billion bid for the Big Board parent, a source familiar with the situation said on Friday. Nasda
Indian federal bond yields and swap rates spiked on Friday as a surge in March headline inflation spooked investors and raised expectations of aggressive rate increases by the central bank. The wholesale price index surged to nearly 9 percent in March, fa
Indian federal bond yields and swap rates spiked on Friday as a surge in March headline inflation spooked investors and raised expectations of aggressive rate increases by the central bank. The wholesale price index surged to nearly 9 percent in March, fa
Investors are turning increasingly bullish on the near term outlook for US Treasuries, saying slowing economic growth and still benign inflation may help the debt markets bloom this spring. US government bonds were boosted on Friday after data showed unde
Investors are turning increasingly bullish on the near term outlook for US Treasuries, saying slowing economic growth and still benign inflation may help the debt markets bloom this spring. US government bonds were boosted on Friday after data showed unde
Chevrolet Europe hopes seven new model launches this year, will help it equal or beat the 2.5 percent market share it won in Europe last year, the chief executive of the General Motors unit told Reuters. The company's 2.2 percent share in the first quarte
Chevrolet Europe hopes seven new model launches this year, will help it equal or beat the 2.5 percent market share it won in Europe last year, the chief executive of the General Motors unit told Reuters. The company's 2.2 percent share in the first quarte
Indian shares traded in the United States came under pressure on Wednesday after Infosys Technologies forecast lower than expected sales, casting doubt over the local software services industry. Kicking off results for India's nearly $60 billion IT sector
Encouraging economic indicators sent US stocks higher on Friday, but the market's recent struggles are set to continue into next week when more than one-fifth of S&P 500 companies report results. The S&P 500 fell for a second straight week, and some in th
The Canadian dollar weakened marginally against the US dollar on Friday, but remained within a narrow range as the spotlight was directed on sovereign debt fears in Europe. Euro-zone debt concerns warred with expectations of a rate hike by a hawkish Europ
Speculators increased their bets against the yen this week, shorting the Japanese currency by the biggest margin in nearly a year, but reduced their long position in the Australian dollar, data showed on Friday. The Commodity and Futures Trading Commissio
The Nigerian naira is seen firming in the next week to Wednesday if the country's elections are credible and peaceful, while Kenya's shilling could weaken due to dollar demand from the oil sector, traders said.
The rouble rebounded on Friday after four days of declines driven by risk aversion, inching up as local demand for dollars faded while tax payments kicked in to add to support from high oil prices.
Key euro-priced bank-to-bank lending rates remained at the previous day's levels on Friday on unchanged expectations that another European Central Bank interest rate increase will come before the end of summer. The ECB raised euro zone interest rates by a
The euro slipped on Friday but its uptrend of the past three months still looks intact, with the prospect of more interest rate rises from the European central bank seen offsetting concerns about the ability of some poorer euro zone countries to pay their
The German finance ministry on Saturday denied it was drawing up contingency plans for a Greek debt restructuring after the Financial Times reported the ministry was studying various options if Athens fails to meet its fiscal targets.
Saudi's Kingdom Holding said on Saturday it had not given up contested land in southern Egypt and had spoken to Egypt's public prosecutor about a settlement. "Kingdom Holding did not give up the land in the Toshka project and still owns it... and it has n
The number of unemployed in Spain, which has the highest jobless rate among developed countries, could reach a record of more than five million, the labour minister warned in an interview published Saturday. "Whether or not we exceed five million unemploy
Europe is likely to be hit the hardest among major economies by a potential global slowdown in 2012, but China's $300 billion sovereign wealth fund is still looking for investment opportunities there, its head said on Saturday.
Europe is likely to be hit the hardest among major economies by a potential global slowdown in 2012, but China's $300 billion sovereign wealth fund is still looking for investment opportunities there, its head said on Saturday.
Mexican telecom giant America Movil says its cellphone subsidiary has been slapped with a 12 billion peso ($1 billion) fine by Mexico's Federal Competition Commission. The company owned by billionaire Carlos Slim says its Telcel subsidiary was informed th
US authorities closed six banks on Friday, bringing the total number of foreclosures in 2011 to 34. The largest of the shuttered banks was Superior Bank of Birmingham, Alabama with about $3.0 billion in assets and $2.7 billion in deposits, the Federal Dep
US Secretary of State Hillary Clinton flew to South Korea on Saturday to consult Seoul about progress made in sealing a long-delayed trade deal and to co-ordinate strategy over the nuclear standoff with North Korea.
Around 10,000 Hungarian police, fire-fighters, soldiers and customs officers protested on Saturday against the centre-right government's austerity measures at a union rally in Budapest Hungary's Fidesz government, which swept to power in 2010 with a two-t
India acquired 25 percent of the Satpayev oil block in Kazakhstan on Saturday, in a deal aimed at boosting its energy security and helping fuel fast economic growth. India, which strongly depends on oil imports, has been less successful than its energy-hu
Iran has oil reserves to last for the next 150 years but faces declining output as fields mature, the head of its state oil company said on Saturday. Iran has played down the impact of sanctions - which have discouraged many western companies from investi
The Kuwait Investment Authority (KIA), the Gulf Arab state's sovereign fund, has launched a company with 1 billion Egyptian pounds ($167.8 million) to invest in Egypt's economy, an official said on Saturday. "A 1 billion Egyptian pounds company was launch
World finance leaders on Saturday chastised the United States for not doing enough to shrink its massive budget deficit and warned that fiscal strains in rich nations threaten the global recovery. Although global tensions over the possibility of currency
US soybean futures ended barely higher on Friday, but down about 4.4 percent on the week, with late-action on Friday led by soymeal's gain following new-crop corn and firm bids in cash. Soyoil also was up along with crude oil, traders said. May soybeans w
Copper fell for a fifth straight day on Friday, posting its biggest weekly loss since mid-March, as mounting inflationary pressure in China cast a shadow over the near-term demand outlook. Copper again shunned rallies in the precious metals complex, with
Gold rose 1 percent to a record and silver soared on Friday, as inflation worries amid a crude oil rally and a downgrade of Ireland's sovereign debt powered bullion to its fifth consecutive weekly gain. Silver rose to its highest in 31 years on speculativ
Australia could harvest another bumper cotton crop next year, possibly matching this year's estimated harvest of a record 4 million bales, an industry official said on Thursday, noting that growing conditions remained ideal.
Thai exporters plan to invest in Cambodia's fledgling rice sector, lured by low production costs and tariff-free exports to the European Union, an industry official said on Tuesday.