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Oct 21, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2012-11-11
THE RUPEE: falling trend

THE RUPEE: falling trend

Easier trend was seen on the open market on Saturday as the rupee drifted lower marginally in terms of the greenback in process of trading, experts said. The rupee fell against the dollar, shedding 10 paisa for buying and selling at 96.30 and 96.50, they
Published 11 Nov, 2012 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (November 10, 2012).

Published 11 Nov, 2012 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (November 10, 2012).

Published 11 Nov, 2012 12:00am
Oil cake market rates

Oil cake market rates

Easier trend was seen on the forward cottonseeds oilcake market on Saturday in the process of trading, dealers said. The December vaida closed at Rs 444.10 and it opened with 10 paisa fall at 444.00, they said. The January contract ended at Rs 892.60 but
Published 11 Nov, 2012 12:00am
US Midwest corn, soya bids steady to mixed

US Midwest corn, soya bids steady to mixed

Corn and soyabean spot basis bids were steady to mixed around the US Midwest on Friday as a slow pace of farmer sales was offset by reduced demand from exporters and processors of the commodities, grain merchants said. Country offerings of both crops were
Published 11 Nov, 2012 12:00am
Wheat prices in western Europe higher

Wheat prices in western Europe higher

Wheat prices in western Europe were flat to higher on Friday, holding onto strong gains this week linked to export prospects despite key US government supply forecasts that were more bearish than expected. Benchmark futures in Paris rose slightly to stay
Published 11 Nov, 2012 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures fell on Friday after the US Department of Agriculture estimated the US soybean and corn crops at higher than expected levels. US soy crop 3 percent larger than trade expected. Canola market underpinned by limited farmer selling
Published 11 Nov, 2012 12:00am
Indian tea prices jump on thin supplies

Indian tea prices jump on thin supplies

Tea prices in India, the world's second biggest producer, jumped at this week's auction on a drop in supplies and robust demand from local and overseas buyers. The price of CTC (crush-tear-curl) tea jumped 3.6 percent to 148.27 rupees ($2.72) per kg, whil
Published 11 Nov, 2012 12:00am
Indian soyabean, soyaoil futures fall

Indian soyabean, soyaoil futures fall

Indian soyabean and soyaoil futures fell on Friday following a drop in overseas prices and on an estimated rise in oilseeds production, though a weak rupee limited the downside. Malaysian palm oil futures were down 0.64 percent at 2,321 ringgit per tonne
Published 11 Nov, 2012 12:00am
Indian sugar futures rise on delay in cane crushing

Indian sugar futures rise on delay in cane crushing

Indian sugar futures edged higher on Friday on a delay in cane crushing in key producing states, though weak demand in local spot markets and higher supplies restricted the gains. By 0919 GMT, the key December contract on India's National Commodity and De
Published 11 Nov, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 94,488 tonnes of cargo comprising 55,877 tonnes of import cargo and 38,611 tonnes of export cargo including 4,514 loaded & empty containers during the last 24 hours ended at 0700 hours on Saturday. The total import cargo of 55,877
Published 11 Nov, 2012 12:00am
HRW wheat bids steady

HRW wheat bids steady

Spot basis bids for hard red winter wheat in the US Plains held steady on Friday in routine dealings. Merchants said mill demand was thin with timely deliveries of contracted wheat. Country selling was light. Protein premiums for railcar wheat to and thro
Published 11 Nov, 2012 12:00am
Bajra prices fall sharply on grain market

Bajra prices fall sharply on grain market

Rates of Bajra fell sharply on the wholesale grain market on Saturday in the process of trading, dealers said. On the grams side, Bajra low type prices declined by Rs 550 to Rs 2600 and the best variety dropped by Rs 150 to Rs 3600, yellow peas Canada los
Published 11 Nov, 2012 12:00am
Corn export premiums higher at US Gulf Coast

Corn export premiums higher at US Gulf Coast

Export premiums for corn at the US Gulf Coast were steady to higher on Friday, supported by tight supplies and signs that demand for US supplies could increase in the coming weeks, traders said. CIF corn barge basis jumped for a third straight day as slow
Published 11 Nov, 2012 12:00am
Coal India says on track to increase output this year

Coal India says on track to increase output this year

Coal India, the world's largest coal producer, posted a 19 percent rise in second-quarter profits on Friday and said it expects to step up production this year after years of sluggish output. The state-controlled miner, which produces about 80 percent of
Published 11 Nov, 2012 12:00am
Striking South African miners reject Amplats' offer to return

Striking South African miners reject Amplats' offer to return

More than 30,000 striking workers at Anglo American Platinum's Rustenburg mines in South Africa rejected the firm's new return-to-work offer on Saturday, a labour leader said. Amplats said on Friday it offered a 4,500 rand ($520) one-off payment and agree
Published 11 Nov, 2012 12:00am
Fed stress tests to let banks adjust capital plans once

Fed stress tests to let banks adjust capital plans once

The Federal Reserve released instructions on Friday for the next tests to determine how big banks would weather a market shock, with a tweak to the rules that allows banks to adjust proposed dividend payments or stock repurchases if their first plans are
Published 11 Nov, 2012 12:00am
Obama would veto extension of tax cuts for top earners

Obama would veto extension of tax cuts for top earners

President Barack Obama would not sign legislation that extends the current lower tax rates for the wealthiest Americans, the White House said on Friday. "The president would veto, as he has said ... any bill that extends the Bush-era tax cuts for the top
Published 11 Nov, 2012 12:00am
Greece gets Chinese, private equity interest for betting firm sale

Greece gets Chinese, private equity interest for betting firm sale

Eight potential investors, including a Chinese conglomerate and private equity funds, have expressed interest in buying a major stake in Greek gambling monopoly OPAP, the country's privatisation agency HRADF said on Saturday. Among the firms responding to
Published 11 Nov, 2012 12:00am
Greece gets Chinese, private equity interest for betting firm sale

Greece gets Chinese, private equity interest for betting firm sale

Eight potential investors, including a Chinese conglomerate and private equity funds, have expressed interest in buying a major stake in Greek gambling monopoly OPAP, the country's privatisation agency HRADF said on Saturday. Among the firms responding to
Published 11 Nov, 2012 12:00am
US judge insists Argentina must pay holdout creditors

US judge insists Argentina must pay holdout creditors

A US judge on Friday told Argentina it should not even consider evading a recent ruling requiring it to pay bondholders who did not participate in two major debt restructurings after the country's 2002 default. US District Judge Thomas Griesa in Manhattan
Published 11 Nov, 2012 12:00am
US judge insists Argentina must pay holdout creditors

US judge insists Argentina must pay holdout creditors

A US judge on Friday told Argentina it should not even consider evading a recent ruling requiring it to pay bondholders who did not participate in two major debt restructurings after the country's 2002 default. US District Judge Thomas Griesa in Manhattan
Published 11 Nov, 2012 12:00am
ECB's Weidmann urges honest troika report on Greece

ECB's Weidmann urges honest troika report on Greece

Europe's politicians seem to have already decided to continue funding Greece, European Central Bank policymaker Jens Weidmann was quoted as saying on Saturday. The ECB Governing Council member and Bundesbank chief said international lenders must still mak
Published 11 Nov, 2012 12:00am
BRICS eye forex reserves pool of up to $240 billion

BRICS eye forex reserves pool of up to $240 billion

Leading emerging market countries are discussing pooling up to $240 billion in foreign exchange reserves to protect themselves from short-term liquidity pressures, according to documents outlining plans by the five BRICS nations. BRICS countries China, Ru
Published 11 Nov, 2012 12:00am
Exxon shuts pipeline after oil leak offshore Nigeria

Exxon shuts pipeline after oil leak offshore Nigeria

Exxon has shut a pipeline off the coast of Nigeria's Akwa Ibom state after an oil leak started by an unknown cause, the company's local unit said on Saturday. The US major's outage will add to production problems in Africa's biggest crude exporter, after
Published 11 Nov, 2012 12:00am
China eyes 600 billion yuan rail backbone spend in 2013

China eyes 600 billion yuan rail backbone spend in 2013

China plans to spend 600 billion yuan ($96 billion) building railway infrastructure next year, with 60 percent of the investment going to high-speed projects, a senior executive from China's leading rail and highway builder said. Li Changjin, chairman of
Published 11 Nov, 2012 12:00am
Morgan Stanley should not boost bond-trading business

Morgan Stanley should not boost bond-trading business

Morgan Stanley is aiming to win market share in bond trading, but it is not big enough to compete against rivals like Goldman Sachs Group Inc, and should instead focus on shrinking that business, J.P. Morgan analyst Kian Abouhossein analyst said.
Published 11 Nov, 2012 12:00am
Morgan Stanley should not boost bond-trading business

Morgan Stanley should not boost bond-trading business

Morgan Stanley is aiming to win market share in bond trading, but it is not big enough to compete against rivals like Goldman Sachs Group Inc, and should instead focus on shrinking that business, J.P. Morgan analyst Kian Abouhossein analyst said.
Published 11 Nov, 2012 12:00am
Sri Lankan stocks at three-week high

Sri Lankan stocks at three-week high

Sri Lankan stocks edged up to a three-week high on Friday, a day after President Mahinda Rajapaksa announced plans to boost the capital market by encouraging new listings of shares and debentures through tax exemptions, brokers said. Under the budget, pre
Published 11 Nov, 2012 12:00am
ADR Report: European shares fall on Greece concerns

ADR Report: European shares fall on Greece concerns

US-listed shares of European companies fell on Friday, on fresh concerns that Greece may not immediately secure a deal to unlock access to urgently needed international aid. Euro zone finance ministers are unlikely to release a new tranche of loans to Gre
Published 11 Nov, 2012 12:00am
India's bonds yields rise; gains for week

India's bonds yields rise; gains for week

India's federal bond yields ended higher on Friday as traders lightened their positions after the supply of long-end bonds at the government auction ahead of a truncated week. Supply of 130 billion rupees ($2.4 billion) of bonds on Friday saw good demand,
Published 11 Nov, 2012 12:00am
India's bonds yields rise; gains for week

India's bonds yields rise; gains for week

India's federal bond yields ended higher on Friday as traders lightened their positions after the supply of long-end bonds at the government auction ahead of a truncated week. Supply of 130 billion rupees ($2.4 billion) of bonds on Friday saw good demand,
Published 11 Nov, 2012 12:00am
TSX inches up as worries on US budget deal loom

TSX inches up as worries on US budget deal loom

Canada's main stock index rose slightly in thin trade on Friday as investors remained worried about the looming "fiscal cliff" in the United States, but insurance and energy shares rose. Stocks pared gains after US President Barack Obama said any deal wit
Published 11 Nov, 2012 12:00am
Treasuries outlook: prices rise as fiscal cliff uncertainty prevails

Treasuries outlook: prices rise as fiscal cliff uncertainty prevails

US Treasuries rose on Friday as investors worried that Congress and President Barack Obama could again find themselves at loggerheads over the budget as the deadline on the "fiscal cliff" of automatic spending cuts and tax rises draws closer.
Published 11 Nov, 2012 12:00am
Treasuries outlook: prices rise as fiscal cliff uncertainty prevails

Treasuries outlook: prices rise as fiscal cliff uncertainty prevails

US Treasuries rose on Friday as investors worried that Congress and President Barack Obama could again find themselves at loggerheads over the budget as the deadline on the "fiscal cliff" of automatic spending cuts and tax rises draws closer.
Published 11 Nov, 2012 12:00am
JGBs rise as US fiscal fears fuel demand for bonds

JGBs rise as US fiscal fears fuel demand for bonds

Japanese government bonds rose on Friday, pushing down benchmark yields to one basis point shy o f a 9-year low, as fears about a looming US fiscal deadlock underpinned fixed-income assets. The US economy faces a so-called "fiscal cliff" of about $600 bil
Published 11 Nov, 2012 12:00am
JGBs rise as US fiscal fears fuel demand for bonds

JGBs rise as US fiscal fears fuel demand for bonds

Japanese government bonds rose on Friday, pushing down benchmark yields to one basis point shy o f a 9-year low, as fears about a looming US fiscal deadlock underpinned fixed-income assets. The US economy faces a so-called "fiscal cliff" of about $600 bil
Published 11 Nov, 2012 12:00am
Kcell plans London listing

Kcell plans London listing

Kcell, Kazakhstan's biggest mobile operator, plans to list in Kazakhstan and London by the end of the year and has appointed banks to run the process, sources close to the deal said. Nordic telecoms group TeliaSonera agreed last year to buy a 49 percent s
Published 11 Nov, 2012 12:00am
Kcell plans London listing

Kcell plans London listing

Kcell, Kazakhstan's biggest mobile operator, plans to list in Kazakhstan and London by the end of the year and has appointed banks to run the process, sources close to the deal said. Nordic telecoms group TeliaSonera agreed last year to buy a 49 percent s
Published 11 Nov, 2012 12:00am
Latam stocks fall to two-month low; worst week since May

Latam stocks fall to two-month low; worst week since May

Latin American stocks fell to their lowest point in more than two months on Friday, capping a weak of losses that left the region's main indexes just above key support levels. Solid Chinese and US economic data on Friday failed to offset fears about fisca
Published 11 Nov, 2012 12:00am
Wall Street ends higher, but investors still weary

Wall Street ends higher, but investors still weary

US stocks advanced on Friday but failed to make up for what turned out to be the worst week for markets since June, as investors turned their attention from the presidential election to the coming negotiations over the "fiscal cliff." The market gave up s
Published 11 Nov, 2012 12:00am
CEE currencies rebound

CEE currencies rebound

Hungary's forint led Central European currencies in a rebound from falls seen after a series of central bank interest rate cuts in the region in the past two weeks. Central banks ease policy to help their economy recover from recession or, in the case of
Published 11 Nov, 2012 12:00am
Speculators go long on US dollar, first time since September

Speculators go long on US dollar, first time since September

Currency speculators favoured the US dollar in the latest week for the first time since early September, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position totalled $1.296 billio
Published 11 Nov, 2012 12:00am
LatAm currencies lower

LatAm currencies lower

The Brazilian real led Latin American currencies lower on Friday, hitting its weakest level in over four months, as concerns about the euro zone crisis and the looming US "fiscal cliff" drove investors to the perceived safety of the dollar. The real lost
Published 11 Nov, 2012 12:00am
Long won positions at two-year high; more bullish on Philippine peso

Long won positions at two-year high; more bullish on Philippine peso

Investors piled up bullish bets on the South Korean won to the highest level in more than two years and increased long positions in the Philippine peso to their largest in two months during the past two weeks, a Reuters poll showed. Long positions in the
Published 11 Nov, 2012 12:00am
Euro at two-month low against dollar on European growth concerns

Euro at two-month low against dollar on European growth concerns

The euro dropped to a two-month low against the US dollar on Friday and could extend losses further as fears mount that the euro zone's debt crisis and deteriorating economic conditions could drag down global economic growth. The US dollar and the yen adv
Published 11 Nov, 2012 12:00am
Australian dollar to hold above parity

Australian dollar to hold above parity

The Australian dollar is unlikely to fall much in the months ahead mainly because of a lack of high yielding alternatives, a Reuters poll of analysts showed, even as financial markets expect the central bank to further cut interest rates.
Published 11 Nov, 2012 12:00am
Canadian dollar slightly weaker

Canadian dollar slightly weaker

The Canadian dollar rebounded from a three-month low against its US counterpart in volatile trade on Friday, ending only slightly weaker as it tracked a modest bounce in equity and commodity markets following encouraging US economic data.
Published 11 Nov, 2012 12:00am
Euribor rates dip

Euribor rates dip

Key Euribor bank-to-bank lending rates dipped on Friday after European Central Bank President Mario Draghi left open the possibility a day earlier of an interest rate cut in the months ahead. Bank-to-bank lending rates have fallen sharply since last Novem
Published 11 Nov, 2012 12:00am
Arsenal waste two-goal lead to draw with Fulham

Arsenal waste two-goal lead to draw with Fulham

Arsenal's topsy-turvy season took another turn for the worse when they let slip a two-goal lead and missed a late penalty to draw 3-3 at home to a Dimitar Berbatov-inspired Fulham on Saturday. Olivier Giroud's double - his first home Premier League goals
Published 11 Nov, 2012 12:00am
Paes and Stepanek defeat Bryan brothers

Paes and Stepanek defeat Bryan brothers

India's Leander Paes and his Czech partner Radek Stepanek enjoyed a surprise 6-4, 6-7 (6/8), 10/7 win over the top seeded Bryan brothers to clinch first place in Group A at the ATP Tour Finals on Saturday. Paes and Stepanek had already booked their place
Published 11 Nov, 2012 12:00am
Del Potro shocks Federer to seal semi-final spot

Del Potro shocks Federer to seal semi-final spot

Argentina's Juan Martin del Potro claimed a surprise 7-6 (7/3), 4-6, 6-3 victory over defending champion Roger Federer on Saturday to book his place in the semi-finals of the ATP Tour Finals. Del Potro's victory ended Federer's 12-match winning run at the
Published 11 Nov, 2012 12:00am
Ulsan Hyundai cruise to Champions League title

Ulsan Hyundai cruise to Champions League title

South Koreans Ulsan Hyundai cruised to their first Asian Champions League title as they outclassed Al Ahli of Saudi Arabia 3-0 in the final on Saturday to qualify for the FIFA Club World Cup. Captain Kwak Tae-hwi opened the scoring in the 13th minute with
Published 11 Nov, 2012 12:00am
Second day washout in Brisbane Test

Second day washout in Brisbane Test

The entire second day's play in the first cricket Test between Australia and South Africa was washed out in Brisbane on Saturday. Match officials called the day's play off at 4:00 pm (0600 GMT) after the pitch remained under covers throughout the day. The
Published 11 Nov, 2012 12:00am
Sri Lanka clinch New Zealand ODI series

Sri Lanka clinch New Zealand ODI series

Sri Lanka defeated New Zealand by seven wickets in the fourth one-day international in Hambantota on Saturday to take an unassailable 3-0 lead and secure the five-match series. Dinesh Chandimal (43), Kumar Sangakkara (42 not out) and Upul Tharanga (27) we
Published 11 Nov, 2012 12:00am
Yousuf, Afridi seek permission to play in President's Trophy

Yousuf, Afridi seek permission to play in President's Trophy

Pakistan Cricket Board (PCB) has not so far taken any decision on the applications of Mohammad Yousuf and Shahid Afridi seeking permission to take part in the on-going President's Trophy tournament. Reacting to media reports giving an impression that the
Published 11 Nov, 2012 12:00am
Calls for probe into India, Pakistan World Cup semi

Calls for probe into India, Pakistan World Cup semi

The former head of Pakistan's cricket board on Saturday called for an investigation into his country's 2011 World Cup semi-final against India after a new book raised the possibility the game was fixed. Britain's Daily Mail newspaper published extracts of
Published 11 Nov, 2012 12:00am
Turkish army kills 42 Kurdish militants

Turkish army kills 42 Kurdish militants

Turkish air force jets and attack helicopters pounded Kurdish militants along the border with Iraq and Iran for three days, killing 42 militants, the local governor's office said on Friday. The operation, which began on Wednesday, was launched after word
Published 11 Nov, 2012 12:00am
Greeks protest as lawmakers debate budget

Greeks protest as lawmakers debate budget

Several hundred Greek civil servants staged a protest in front of parliament in Athens on Saturday as lawmakers inside debated a draft 2013 budget ahead of a key vote. "No to salary cuts!" read one banner held up by the protestors, civil servants from acr
Published 11 Nov, 2012 12:00am
Tempers fray as many in US Northeast still without power

Tempers fray as many in US Northeast still without power

Frustration with continuing power outages, travel chaos, and long lines for gasoline grew on Saturday as residents of Long Island, hit hard by Superstorm Sandy, planned to a protest outside the headquarters of the local utility company. Residents said the
Published 11 Nov, 2012 12:00am
Pentagon clears possible sale of Lockheed planes to Saudi Arabia

Pentagon clears possible sale of Lockheed planes to Saudi Arabia

The Pentagon on Friday said it had approved the potential sale of 25 C-130J transport and refuelling planes built by Lockheed Martin Corp to Saudi Arabia for up to $6.7 billion. The Defence Security Co-operation Agency notified Congress about the possible
Published 11 Nov, 2012 12:00am
Israeli tank fire kills four Palestinians

Israeli tank fire kills four Palestinians

Israeli tank fire killed four Palestinians and wounded 25 in the Gaza Strip on Saturday after an anti-tank missile hit an Israeli army jeep wounding four soldiers, and Palestinian fighters fired rockets into southern Israel in a new flare-up of fighting.
Published 11 Nov, 2012 12:00am
SNC under pressure over opposition plan

SNC under pressure over opposition plan

The Syrian National Council came under increasing pressure on Saturday to accept an opposition unity plan after saying it will put forward its own proposals amid growing frustration among other dissident groups. Once regarded as the leading opposition rep
Published 11 Nov, 2012 12:00am
Twin suicide bombs kill 20 soldiers in southern Syria

Twin suicide bombs kill 20 soldiers in southern Syria

Twin suicide bombings at a military officers' club in the southern Syrian city of Daraa killed at least 20 soldiers on Saturday and possibly many more, the Syrian Observatory for Human Rights said. The attacks targeted the back garden of the club, the Bri
Published 11 Nov, 2012 12:00am
Sri Lanka deploys troops as prison riot kills 27

Sri Lanka deploys troops as prison riot kills 27

Heavily-armed troops guarded Sri Lanka's lone maximum security prison Saturday after helping to crush the country's worst jail riot in three decades, which left 27 people dead and 43 wounded. Army spokesman Brigadier Ruwan Wanigasooriya said the soldiers
Published 11 Nov, 2012 12:00am
Vatican computer expert convicted in leaks case

Vatican computer expert convicted in leaks case

A Vatican court on Saturday found a Holy See computer expert guilty of obstruction of justice in the investigation of leaks of sensitive papal documents to the media by Pope Benedict's former butler. The same court which last month convicted Paolo Gabriel
Published 11 Nov, 2012 12:00am
BBC under fire again after false child sex abuse report

BBC under fire again after false child sex abuse report

Britain's public broadcaster, reeling from revelations that one of its former stars was a paedophile, was struggling to contain damage on Saturday after a flagship news programme aired a mistaken allegation that an ex-politician sexually abused children.
Published 11 Nov, 2012 12:00am
China to launch new manned spaceship in 2013

China to launch new manned spaceship in 2013

China plans to launch its Shenzhou 10 spacecraft in early June 2013, one of the senior officials in charge of the manned space programme said on Saturday, the official Xinhua news agency reported. The launch marks another step forward in Beijing's ambitio
Published 11 Nov, 2012 12:00am
Canada, Philippines ink defence procurement deal

Canada, Philippines ink defence procurement deal

Canada and the Philippines signed a deal Saturday to help Manila buy military equipment to defend its territory, Canadian Prime Minister Stephen Harper and Filipino President Benigno Aquino said. The Philippine defence department and state-run Canadian Co
Published 11 Nov, 2012 12:00am
Thailand lifts paddy rice output

Thailand lifts paddy rice output

Thailand, the world's biggest rice exporter, has raised its forecast for paddy rice output from the main 2012/13 crop to 26 million tonnes from 25 million, a senior Agriculture Ministry official said on Friday. "Production rose because our high interventi
Published 11 Nov, 2012 12:00am
Cotton stocks above 80 million bales for first time: USDA

Cotton stocks above 80 million bales for first time: USDA

The US government has raised its 2012/13 forecast for global cotton inventory to above 80 million 480-pound bales for the first time due to growing output in the United States, the world's third largest producer, and falling demand from China, the world's
Published 11 Nov, 2012 12:00am
Indonesian demand fails to lift Asian rice prices

Indonesian demand fails to lift Asian rice prices

Fresh Indonesian purchases failed to lift Asian rice prices this week as overall demand remained thin and supply plentiful, traders said on Wednesday. "The recent 300,000 tonne Indonesian order seemed too small to help support Vietnamese prices as offers
Published 11 Nov, 2012 12:00am
China oil, iron ore import growth quickens; copper slumps

China oil, iron ore import growth quickens; copper slumps

China's copper import growth slowed sharply to hit a 17-month low in October, but iron ore and crude oil quickened pace in a sign that domestic demand for those two raw materials was stabilising after months of slowdown. Other economic data released also
Published 11 Nov, 2012 12:00am
New York cotton ekes out gains even after weak USDA crop report

New York cotton ekes out gains even after weak USDA crop report

US cotton futures closed higher on Friday, as a solid domestic Chinese price helped cushion the blow of another bearish monthly crop report, but the bounce still left the market down 1 percent on the week. The US government raised its 2012/13 forecast for
Published 11 Nov, 2012 12:00am
India to unload more excess wheat stocks

India to unload more excess wheat stocks

India's government said Saturday it will sell 6.5 million tonnes of wheat to bulk consumers such as flour millers to keep a check on rising prices and overflowing stocks. India, one of the world's largest wheat producers as well as one of its biggest user
Published 11 Nov, 2012 12:00am
Vietnam's Coffee King plans next prestige global brand

Vietnam's Coffee King plans next prestige global brand

Vietnam's "Coffee King" sips tea as he appraises the crowded tables at a Swiss branch of Starbucks. Dang Le Nguyen Vu may not rate the coffee, preferring the brand from Vietnam's top processor which he heads, earning him the regal epithet. But the US chai
Published 11 Nov, 2012 12:00am
Australia's wheat output seen lower, exports to hit three-year low

Australia's wheat output seen lower, exports to hit three-year low

Analysts and traders cut their estimate for Australia's 2012/13 wheat output to 20.47 million tonnes and said exports might shrink to a three-year low, a Reuters poll shows, as unfriendly crop weather dents yields. Both forecasts fall significantly short
Published 11 Nov, 2012 12:00am
Gold posts weekly gain on US fiscal crisis concern

Gold posts weekly gain on US fiscal crisis concern

Gold traded flat on Friday, but notched its largest weekly gain since late August as a looming US fiscal crisis led to purchases of the metal as a hedge against economic uncertainty. The metal has gained over 3 percent this week as investors turned their
Published 11 Nov, 2012 12:00am
Commodity prices mostly drop after Obama re-election

Commodity prices mostly drop after Obama re-election

Commodities mostly fell in volatile trade this week as investors eyed demand fears, presidential elections in the United States and a looming leadership change in China. Investors' focus was firmly fixed on US President Barack Obama's victory over Republi
Published 11 Nov, 2012 12:00am
Rare public statement

Rare public statement

This refers to the two reports, carried by the electronic as well as print media of November 07, one pertaining to the address of Chief of Army Staff (CoAS), General Parvez Ashfaq Kayani, given to a group of army officers and the second, relative to the s
Published 11 Nov, 2012 12:00am
A year on, Berlusconi not missed, but weariness with Monti

A year on, Berlusconi not missed, but weariness with Monti

One year after his resignation, former premier Silvio Berlusconi is not missed by the average Italians, but they are growing increasingly weary of the bitter austerity medicine that his successor, Mario Monti, has forced upon them. "Monti has restored our
Published 11 Nov, 2012 12:00am
Arrival of spring

Arrival of spring

It is hard to fix the bungled up things. When extra-constitutional arrangements are made they create such convolutions which are difficult to untangle through legal discourses. They can best be resolved through a combination of the vision of the elected r
Published 11 Nov, 2012 12:00am
Ambassador Oslon's musings

Ambassador Oslon's musings

It's in the nature of their job that ambassadors open their accounts with the host governments and public on a positive note. So the enthusiasm underlining the United States' newly-appointed ambassador Richard Oslon's speech at a function in Islamabad on
Published 11 Nov, 2012 12:00am
Prime Minister's vision for Saarc

Prime Minister's vision for Saarc

Prime Minister Raja Pervez Ashraf, while addressing a luncheon he hosted for the participants of the sixth conference of the Association of Saarc Speakers, stated that "we are committed to going the extra mile to make Saarc an effective and productive org
Published 11 Nov, 2012 12:00am
Inadequate gas supply: government accused of destroying exports

Inadequate gas supply: government accused of destroying exports

It seems that the Government after causing a disastrous situation in the exports of Punjab is now out to destroy our exports. Karachi is the economic hub of Pakistan and the contribution of exports of Karachi Industries is 50% of total exports while it is
Published 11 Nov, 2012 12:00am
MQM postpones referendum

MQM postpones referendum

The Co-ordination Committee of Muttahida Quami Movement (MQM) on Saturday announced that it had postponed the public referendum scheduled to be held on 14th November in deference to the month of Muharram. The decision to put off the referendum has been ta
Published 11 Nov, 2012 12:00am
PIA to begin weekly direct flight from Madinah to Lahore

PIA to begin weekly direct flight from Madinah to Lahore

With 32 percent growth in passengers from Madinah, Pakistan International Airline (PIA) is planning to commence a direct flight in a week from Madinah to Lahore from the next Umrah season likely to start in January 2013. While talking to Pakistani journal
Published 11 Nov, 2012 12:00am
Sindh Education department to rehabilitate schools damaged in flood

Sindh Education department to rehabilitate schools damaged in flood

Despite allocation of Rs 131 billion in 2011-12 and Rs 231 billion in 2012-13 as Annual Development Programme (ADP), Sindh government could not rehabilitate the flood affected schools of the province which were destroyed during the super floods of 2010.
Published 11 Nov, 2012 12:00am
KCCI concerned at Karachi's situation

KCCI concerned at Karachi's situation

President, Karachi Chamber of Commerce and Industry (KCCI), Muhammad Haroon Agar has expressed deep concern over recent bloodshed and target killing of three brothers. They were senior members of Karachi Electronics Dealers Association. He lamented that d
Published 11 Nov, 2012 12:00am
Bihar chief minister visits Quaid-e-Azam mausoleum

Bihar chief minister visits Quaid-e-Azam mausoleum

Chief Minister of the Indian state of Bihar‚ Natesh Kumar visited mausoleum of Quaid-e-Azam Muhammad Ali Jinnah on Saturday morning and laid floral wreath and stood silent for a while to pay homage to the founder of Pakistan.
Published 11 Nov, 2012 12:00am
Political parties say proper security key to her return

Political parties say proper security key to her return

Major political parties on Saturday agreed that Malala Yousafzai should return to Pakistan only after the government ensures foolproof security to her. Malala, respected at home and abroad for speaking out against Taliban atrocities and for advocating gir
Published 11 Nov, 2012 12:00am
Ceremony today

Ceremony today

Deputy Speaker Punjab Assembly Rana Mashud would be chief guest of a function of Zoha Foundation here on Sunday. The function would be held with reference to promotion of creativity oriented activities of children.
Published 11 Nov, 2012 12:00am
PTI lauds UN

PTI lauds UN

Pakistan Tahreek-e-Insaf (PTI) Central Secretary Information Shafqat Mahmood has on Saturday lauded the announcement of Malala Day by the United Nations (UN). He said the UN has announced to observe 'Malala Day' on November 10 under its supervision across
Published 11 Nov, 2012 12:00am
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