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Oct 31, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2013-06-19
US to import about 250,000 tonnes of soybeans: Oil World

US to import about 250,000 tonnes of soybeans: Oil World

The United States, traditionally a big soybean exporter, will import around 250,000 tonnes of soybeans in June and July this year because of tight domestic supplies, Hamburg-based oilseeds analysts Oil World said on Tuesday. "US soybean imports are set to
Published 19 Jun, 2013 12:00am
Russian wheat harvest begins early

Russian wheat harvest begins early

Russia, one of the world's largest wheat exporters, will start this year's wheat harvest on a large scale next week, two weeks earlier than usual, the state weather forecaster said on Tuesday. Last year, a drought slashed Russia's wheat harvest by one thi
Published 19 Jun, 2013 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 125,800 tonnes of cargo comprising 78,221 tonnes of import cargo and 47,579 tonnes of export cargo including 4,549 loaded and empty containers during the last 24 hours ended at 0700 hours on Tuesday.T he total import cargo of 78,2
Published 19 Jun, 2013 12:00am
Oil cake market rates

Oil cake market rates

Both the futures were unchanged on the forward cottonseeds oilcake market on Tuesday in the process of trading, dealers said. The July vaida closed at Rs 999.00 and it opened at the same rate, they said. The December contract ended at Rs 949.90 and it sho
Published 19 Jun, 2013 12:00am
Cotton market mildly bullish despite subdued business activity

Cotton market mildly bullish despite subdued business activity

An upward trend prevailed on the cotton market on Tuesday as official spot rate gained sharply amid modest trading, dealers said. The Karachi Cotton Association (KCA) raised official spot rate by Rs 100 to Rs 6,500, they said. In the ready business, nearl
Published 19 Jun, 2013 12:00am
Bangladesh tea prices rise

Bangladesh tea prices rise

Tea prices in Bangladesh ticked higher at a weekly auction on Tuesday on strong demand from local buyers and sales rose despite larger supplies, brokers said. The average price of Bangladeshi tea was 285.06 taka ($3.6) per kg against 282.80 taka in the pr
Published 19 Jun, 2013 12:00am
Upward trend persists on grain market

Upward trend persists on grain market

Wheat and rice prices were higher on the wholesale grain market on Tuesday in the process of modest trading, dealers said. On the cereals side, Masoor Canada gained Rs 300 to Rs 7600-7700, wheat old Bardan picked up Rs 50 to Rs 3300, Moong Peshawar, howev
Published 19 Jun, 2013 12:00am
Indian shares retreat

Indian shares retreat

Indian shares fell on Tuesday as bluechips such as HDFC Bank declined on anxiety over potential foreign outflows should the US Federal Reserve signal winding down of its bond-buying programme later this week. Banks were among the decliners given that an e
Published 19 Jun, 2013 12:00am
Nikkei average down

Nikkei average down

Japan's Nikkei average edged down in choppy trade but managed to end above 13,000 on Tuesday, with most players staying on the sidelines as they awaited the outcome of the US Federal Reserve's meeting for clues on when it may begin tapering back stimulus.
Published 19 Jun, 2013 12:00am
Tuesday's early afternoon trade: stocks climb on hopes of Fed status quo

Tuesday's early afternoon trade: stocks climb on hopes of Fed status quo

US stocks climbed on Tuesday, led by growth-oriented sectors, as investors took an optimistic view that the Federal Reserve will temper recent statements pointing to the future reduction of US monetary support. Shares of industrial, technology and consume
Published 19 Jun, 2013 12:00am
Wall Street rises

Wall Street rises

US stocks rose on Monday but ended well off their highs as investors speculated over the Federal Reserve's intentions about its massive stimulus program to aid the economy before a meeting of policymakers that begins on Tuesday. Major indexes climbed from
Published 19 Jun, 2013 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks ended higher for just the second session in five on Tuesday, with technology exporters supporting gains. The main TAIEX index closed up 0.2 percent at 8,011.02 points, beating most regional bourses and extending a 0.7 percent gain in the pre
Published 19 Jun, 2013 12:00am
Australian shares slip

Australian shares slip

Australian shares fell 0.2 percent in volatile trade on Tuesday, as investors awaited the outcome of the US Federal Reserve's monetary meeting and turned tentative before an options expiry date. "On Thursday we have the index options expiry, a big expiry
Published 19 Jun, 2013 12:00am
US longer-dated debt prices fall

US longer-dated debt prices fall

US longer-dated government debt prices fell on Monday a day before the Federal Reserve meets for a two-day policy meeting on concerns the central bank might be moving closer to announcing it will trim bond purchases, though trade was volatile and volume w
Published 19 Jun, 2013 12:00am
Saudi real estate extends rally to lift index; markets mixed

Saudi real estate extends rally to lift index; markets mixed

A real estate stock rally extended in Saudi Arabia on Tuesday, helping lift the bourse for a third consecutive session, while foreign investors bought Egyptian bluechips battered by recent political turbulence. The Saudi index rose 0.8 percent. Saturday's
Published 19 Jun, 2013 12:00am
Hong Kong shares flat, cash shortage caps China gains

Hong Kong shares flat, cash shortage caps China gains

Hong Kong shares ended little changed after two days of gains with investors selling recent outperformers and turnover low as markets braced for the US Federal Reserve policymaking meeting beginning later on Tuesday. Mainland China markets eked slim gains
Published 19 Jun, 2013 12:00am
European shares steady

European shares steady

European equities steadied on Tuesday, with investors unwilling to make large bets until there is clarity on the strength of the domestic economy and on how soon the US Federal Reserve may begin to scale back stimulus. The FTSEurofirst 300 closed down 0.1
Published 19 Jun, 2013 12:00am
Seoul shares up

Seoul shares up

Seoul shares advanced on Tuesday as battered auto and technology heavyweights including Hyundai Motor and Samsung Electronics rebounded sharply. The Korea Composite Stock Price Index (KOSPI) finished up 0.93 percent at 1,900.62 points, but the South Korea
Published 19 Jun, 2013 12:00am
Southeast Asian stocks mostly up

Southeast Asian stocks mostly up

Most Southeast Asian stocks rose for a third session on Tuesday as recently oversold shares continued to rebound, but volume slid as investors waited for more clarity on the US Federal Reserve's stimulus programme. The Philippine composite index, which me
Published 19 Jun, 2013 12:00am
Britain's FTSE rises as traders buy beaten-down banks

Britain's FTSE rises as traders buy beaten-down banks

Britain's bluechip share index rose on Tuesday, as traders bought up beaten-down financial heavyweights in a cautious session ahead of a policy meeting of the US Federal Reserve. The FTSE 100 closed 43.72 points higher, or 0.7 percent, at 6,374.21, with f
Published 19 Jun, 2013 12:00am
Indian rupee at record low

Indian rupee at record low

The Indian rupee fell 1.5 percent to a record closing low on Tuesday as traders worried that the country's current account deficit made the currency especially vulnerable to any scaling back of the US Federal Reserve's monetary stimulus. The rupee is expe
Published 19 Jun, 2013 12:00am
Dollar hovers above two-month low in Asia

Dollar hovers above two-month low in Asia

The US dollar hovered above a two-month low against the yen on Tuesday but struggled to extend gains on worries the US Federal Reserve could hint at withdrawing stimulus and unsettle financial markets. The Australian dollar slipped after the minutes of th
Published 19 Jun, 2013 12:00am
Dollar rises in London

Dollar rises in London

The dollar rose on Tuesday, moving away from recent two-month lows against the yen, with further gains dependent on US Federal Reserve guidance on its monetary policy. Speculation Fed chief Ben Bernanke may indicate he could start winding down stimulus ha
Published 19 Jun, 2013 12:00am
Early trade in New York: dollar, euro move higher

Early trade in New York: dollar, euro move higher

The US dollar rose for a second day against the yen on Tuesday as some traders bet the Federal Reserve may signal it is almost ready to reduce its bond buying program aimed at propping up the economy. The euro hit a four-month high against the dollar afte
Published 19 Jun, 2013 12:00am
Dollar climbs versus yen

Dollar climbs versus yen

The US dollar climbed against the yen for the first time in five sessions on Monday, as stock markets rallied on expectations the Federal Reserve's policy announcement this week will reassure investors that monetary stimulus will remain in place. The yen
Published 19 Jun, 2013 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 77.75-77.76 (77.75-77.76). Call Money Rates: 05.25-07.50 percent (previous 05.25-07.50 percent).
Published 19 Jun, 2013 12:00am
Yuan falls

Yuan falls

China's yuan fell on Tuesday after the People's Bank of China set a lower-than-expected midpoint, generating talk that authorities may intend to guide the currency weaker in the near term, dealers said. The People's Bank of China (PBOC) fixed its midpoint
Published 19 Jun, 2013 12:00am
Worry on capital outflows hits Asian forex

Worry on capital outflows hits Asian forex

Emerging Asian currencies fell on Tuesday with investors anxious about capital outflows if the Federal Reserve cuts its stimulus, while fear of accelerating inflation due to a planned fuel hike contributed to a slide by the Indonesian rupiah. The rupiah f
Published 19 Jun, 2013 12:00am
Swiss franc weakens

Swiss franc weakens

The Swiss franc was weaker against the dollar and euro on Tuesday, but hovered near last week's highs against both currencies, as dealers awaited furthers hints on the US Federal Reserve's stimulus programme. The franc fell 0.3 percent against the dollar
Published 19 Jun, 2013 12:00am
Pound drops versus dollar, euro

Pound drops versus dollar, euro

Sterling slipped on Tuesday from a four-month peak hit in the previous session as upbeat US data and prospects that the Federal Reserve could signal a reduction in its stimulus programme supported the dollar. Any hint from Fed chairman Ben Bernanke on Wed
Published 19 Jun, 2013 12:00am
Tomic posts season's first grass win

Tomic posts season's first grass win

Australian Bernard Tomic has recharged his form on grass, shaking off last week's hamstring concern to post a 6-3, 6-4 first round win over Briton James Ward at the ATP-WTA Eastbourne International on Tuesday. The victory came one week after Tomic lost in
Published 19 Jun, 2013 12:00am
Ten years on, Federer faces historic Wimbledon bid

Ten years on, Federer faces historic Wimbledon bid

Ten years after Roger Federer made his Grand Slam breakthrough at Wimbledon, the 17-time major winner returns to the All England Club next week as defending champion, but with the clock ticking. The Swiss put his growing army of critics firmly in their pl
Published 19 Jun, 2013 12:00am
Tension, anger as Asian giants reach World Cup

Tension, anger as Asian giants reach World Cup

Asian giants Iran, South Korea and Australia scrambled into next year's World Cup on Tuesday after scenes of crowd anger and high tension on the final night of group qualifying. Irate South Korean fans hurled water bottles and other debris after Iran book
Published 19 Jun, 2013 12:00am
Ethiopia, Togo fielded suspended stars

Ethiopia, Togo fielded suspended stars

Ethiopia and Togo fielded suspended stars in 2014 World Cup qualifiers during June, according to FIFA match records of the competition. Midfielder Manyahile Beyene played for Ethiopia in Botswana instead of serving a one-match ban having been cautioned in
Published 19 Jun, 2013 12:00am
Inverarity warns against writing off Aussies

Inverarity warns against writing off Aussies

Australia's chairman of selectors has told England now is not the time to dismiss his side's chances of regaining the Ashes, despite the controversy currently engulfing the tourists. Title-holders Australia's early exit from the Champions Trophy tournamen
Published 19 Jun, 2013 12:00am
Sri Lanka oust Aussies to qualify for semi-finals

Sri Lanka oust Aussies to qualify for semi-finals

Sri Lanka reached the Champions Trophy semi-finals with a 20-run victory over holders Australia in the last league match at the Oval in London on Monday. The Sri Lankans, who needed a win to stay in the competition, relied on aggressive half-centuries fro
Published 19 Jun, 2013 12:00am
First semi-final today: England, South Africa look to ride their luck

First semi-final today: England, South Africa look to ride their luck

England and South Africa will hope lady luck does not desert them when they clash in the Champions Trophy semi-final at the Oval in London on Wednesday. Both sides, aiming to end a frustrating wait for a major one-day title, are fortunate to make the last
Published 19 Jun, 2013 12:00am
Lewandowski at Bayern for 2014-15

Lewandowski at Bayern for 2014-15

Robert Lewandowski will see out his Borussia Dortmund contract then join Champions League winners Bayern Munich for the 2014/15 season, turning down offers from England's Premier League, according to reports on Monday. "Robert will definitely play for Bor
Published 19 Jun, 2013 12:00am
90-year-old Spanish club wound up

90-year-old Spanish club wound up

Spanish side UD Salamanca have been placed into liquidation after a agreement between creditors could not be reached at a meeting on Tuesday. "Unfortunately, it can now be officially said that UD Salamanca has ceased to be," administrator Maximo Mayoral t
Published 19 Jun, 2013 12:00am
ICC confirm umpires for Champions Trophy semi-finals

ICC confirm umpires for Champions Trophy semi-finals

The International Cricket Council (ICC) announced Tuesday the umpires and match officials for the Champions Trophy semi-finals. For hosts England's match against South Africa at The Oval in London on Wednesday, the on-field umpires will be Sri Lanka's Kum
Published 19 Jun, 2013 12:00am
Whatmore eyes World Cup after Pakistan flop

Whatmore eyes World Cup after Pakistan flop

Pakistan coach Dav Whatmore said Tuesday the team would be reviewed with an eye on building for the 2015 World Cup after their dismal showing at the Champions Trophy in England. Abysmal batting led to Pakistan's defeat in all three matches as they failed
Published 19 Jun, 2013 12:00am
Swiss parliament stalls progress of US tax deal

Swiss parliament stalls progress of US tax deal

Switzerland's lower house of parliament has stalled the government's bid to protect the country's banks from criminal charges in the United States for helping wealthy Americans to evade tax. The lawmakers refused to address a bill aimed at allowing banks
Published 19 Jun, 2013 12:00am
World advertising growth revised lower: Publicis

World advertising growth revised lower: Publicis

The global advertising market will grow by a less than expected 3.5 percent this year, French ad giant Publicis said on Tuesday, marking down last December's forecast of 4.1 percent growth for the second time. ZenithOptimedia, the media buying unit of Pub
Published 19 Jun, 2013 12:00am
Boeing's new Dreamliner steps up big jet battle

Boeing's new Dreamliner steps up big jet battle

Boeing launched a larger version of its flagship Dreamliner aircraft at the Paris Airshow on Tuesday, intensifying the battle with rival Airbus in the booming market for fuel-efficient, long-haul jets. The hotly anticipated announcement of the 787-10 Drea
Published 19 Jun, 2013 12:00am
G8 leaders strike deal to fight tax evasion 'scourge'

G8 leaders strike deal to fight tax evasion 'scourge'

The world's leading industrialised nations struck a deal Tuesday to crack down on the "scourge" of tax evasion and share more cross-border financial information. Gathered in Northern Ireland for a summit, G8 leaders vowed concrete steps to target not only
Published 19 Jun, 2013 12:00am
Bangladesh approves power, textile investments

Bangladesh approves power, textile investments

Bangladesh's central bank approved $154 million worth of investment on Tuesday to boost electricity supply and enable a number of textile investments. The move was made by the Investment Scrutiny Committee dealing with approvals of private sector foreign
Published 19 Jun, 2013 12:00am
Commerzbank to shed more than 5,000 jobs

Commerzbank to shed more than 5,000 jobs

German lender Commerzbank will shed more than 5,000 jobs, 10 percent of its workforce, under a preliminary deal with staff representatives to cut costs, a person close to the company told Reuters on Tuesday. While two people familiar with the negotiations
Published 19 Jun, 2013 12:00am
Commerzbank to shed more than 5,000 jobs

Commerzbank to shed more than 5,000 jobs

German lender Commerzbank will shed more than 5,000 jobs, 10 percent of its workforce, under a preliminary deal with staff representatives to cut costs, a person close to the company told Reuters on Tuesday. While two people familiar with the negotiations
Published 19 Jun, 2013 12:00am
Taiwan's EVA Air joins world's biggest air alliance

Taiwan's EVA Air joins world's biggest air alliance

Taiwan's EVA Airways on Tuesday joined Star Alliance, the world's biggest airline grouping, in a move that could give it an edge over regional rivals like China Airlines. "EVA Air has successfully completed all joining requirements and I can confirm that
Published 19 Jun, 2013 12:00am
ECB rates becoming more effective again, says Draghi

ECB rates becoming more effective again, says Draghi

The European Central Bank is ready to act to aid the eurozone economy if needed, while signs of market stabilisation mean interest rates are becoming a more effective tool again, ECB chief Mario Draghi said on Tuesday. Speaking in occupied Jerusalem at a
Published 19 Jun, 2013 12:00am
European car sales hit 20-year low

European car sales hit 20-year low

European car sales plunged last month to their lowest May level in two decades, eroding manufacturers' hopes for a recovery this year after a rebound the month before. Figures on Tuesday from the Association of European Carmakers showed Germany, France an
Published 19 Jun, 2013 12:00am
Austrian central bank deputy suspended after charges

Austrian central bank deputy suspended after charges

Austria's central bank said Tuesday it has suspended deputy chairman Wolfgang Duchatczek after prosecutors charged him and eight others last week with alleged bribery, money-laundering and breach of trust. "The board will decide on what further steps to t
Published 19 Jun, 2013 12:00am
UK charges former UBS trader Hayes in Libor investigation

UK charges former UBS trader Hayes in Libor investigation

Britain's fraud prosecutor on Tuesday charged former UBS and Citigroup trader Tom Hayes with eight counts of conspiracy to defraud as it laid the groundwork for what could be the first Libor trial. Hayes, 33, was arrested by London police and the Serious
Published 19 Jun, 2013 12:00am
US inflation data points to stabilising economy

US inflation data points to stabilising economy

US inflation showed signs of stabilising in May after a long decline, a potential comfort to Federal Reserve policymakers who want to avoid any chance of a debilitating bout of deflation. The Labour Department said on Tuesday the consumer price index edge
Published 19 Jun, 2013 12:00am
Shaken Brazil government braces for more social unrest

Shaken Brazil government braces for more social unrest

Thousands of Brazilians threatened fresh protests Tuesday over the huge costs of preparations for the World Cup, after the biggest demos 20 years shook Dilma Rousseff's government. On Monday more than 250,000 people marched in major cities, railing agains
Published 19 Jun, 2013 12:00am
Singapore, Indonesia tussle over haze problem

Singapore, Indonesia tussle over haze problem

Singapore on Tuesday stepped up the pressure on Indonesia to fight forest fires as smog from Sumatra island continued to shroud the densely populated city-state. Prime Minister Lee Hsien Loong said on his Facebook page that Singapore's foreign and environ
Published 19 Jun, 2013 12:00am
Britain lays off 4,400 soldiers

Britain lays off 4,400 soldiers

Britain laid off more 4,400 soldiers on Tuesday in a third wave of military job cuts intended to help tackle a budget deficit, the Ministry of Defence said. The soldiers, 84 percent of whom had applied for voluntary redundancy, were informed in person by
Published 19 Jun, 2013 12:00am
Twin suicide bombings kill 31 in Baghdad

Twin suicide bombings kill 31 in Baghdad

Twin suicide bombings killed 31 people after midday prayers at a Shia religious centre in Baghdad on Tuesday, the latest in violence sparking fears of a revival of full-blown sectarian bloodshed. Several students from an adjacent university were among the
Published 19 Jun, 2013 12:00am
UN leader calls for 'maximum restraint' by Turkey

UN leader calls for 'maximum restraint' by Turkey

UN leader Ban Ki-moon on Tuesday called on Turkey to show "maximum restraint" in its showdown with opposition demonstrators and expressed concern about the widespread clashes. Ban "remains concerned about ongoing clashes between protesters and security pe
Published 19 Jun, 2013 12:00am
Turkish Prime Minister claims victory after protest crackdown

Turkish Prime Minister claims victory after protest crackdown

Turkish Prime Minister Recep Tayyip Erdogan on Tuesday claimed victory over anti-government protesters after a heavy crackdown, as police raided homes and arrested dozens of demonstrators in a bid to stamp out nearly three weeks of unrest. After a weekend
Published 19 Jun, 2013 12:00am
Mali reaches deal with Tuareg rebels

Mali reaches deal with Tuareg rebels

Mali is ready to sign a deal with Tuareg separatist rebels on Tuesday, paving the way for Malian government troops to return to the rebel-held northern town of Kidal ahead of an election next month, Mali's chief negotiator said. Bamako has made clear that
Published 19 Jun, 2013 12:00am
Kidnapped French sailor freed in Nigeria

Kidnapped French sailor freed in Nigeria

A French sailor who was kidnapped from a tanker in Togo has been freed in the oil-producing Niger Delta region of Nigeria after an army rescue, the military said on Tuesday. "The man is a Frenchman and he was abducted from a vessel, MT Adour, which was an
Published 19 Jun, 2013 12:00am
Ban calls for end to Saddam-era sanctions against Iraq

Ban calls for end to Saddam-era sanctions against Iraq

UN leader Ban Ki-moon on Tuesday called for the end of the threat of sanctions against Iraq for its 1990 invasion of Kuwait amid a significant thaw between the neighbours. Ban said both governments have shown "statesmanship and respect" in healing the sca
Published 19 Jun, 2013 12:00am
American tourist dies in Arctic cruise mishap

American tourist dies in Arctic cruise mishap

An American tourist in her 60s died during a cruise of the Arctic when a dinghy she boarded to visit a fjord in Norway's Svalbard archipelago capsized, local officials said Tuesday. The woman, whose identity was not disclosed, was holidaying on the Sea Sp
Published 19 Jun, 2013 12:00am
Russia moves to ban adoption for foreign gay couples

Russia moves to ban adoption for foreign gay couples

Russian lawmakers on Tuesday backed a bill which would place tough restrictions on adoption to countries where same-sex marriages are legal, following France's vote last month allowing such unions. The bill could ban people in over a dozen countries from
Published 19 Jun, 2013 12:00am
Egyptian court ends Mubarak detention

Egyptian court ends Mubarak detention

An Egyptian court on Tuesday ended the detention of Hosni Mubarak in one corruption case, judicial sources told AFP, but the ousted president will remain in custody on other charges. The North Cairo misdemeanour court ordered Mubarak's release but said it
Published 19 Jun, 2013 12:00am
G8 leaders agree to stamp out terror ransom payments

G8 leaders agree to stamp out terror ransom payments

G8 leaders agreed on Tuesday to eradicate the payment of ransoms for hostages kidnapped by "terrorists" in an attempt to remove one of the key incentives for extremists. The world's most industrialised nations also called on companies to follow their lead
Published 19 Jun, 2013 12:00am
Sufi Tabbasum remembered

Sufi Tabbasum remembered

Iranian Consul General Bani Asadi has said that Pakistan and Iran can collaborate in numerous academic areas such as technology, literature, art and research. Both countries have common literary and cultural heritage. Sheikh Saadi and Allama Muhammad Iqba
Published 19 Jun, 2013 12:00am
Sarabjit Singh case: commission testifies jail officials

Sarabjit Singh case: commission testifies jail officials

A one-member judicial commission, comprising Justice Syed Mazhar Ali Akbar Naqvi of the Lahore High Court, has recorded so far statements of 38 witnesses with regard to murder of Indian condemned prisoner Sarabjit Singh. Punjab inspector general of prison
Published 19 Jun, 2013 12:00am
LG introduces energy-efficient smart home appliances

LG introduces energy-efficient smart home appliances

LG Electronics (LG), a global leader and technology innovator, has continued to push the barrier in consumer electronics with the launch of its flagship 2013 Smart models in Home Entertainment and Appliances here the other day. At the heart of LG's innova
Published 19 Jun, 2013 12:00am
Consultative workshop on Tuberculosis control held in Khyber Pakhtunkhwa

Consultative workshop on Tuberculosis control held in Khyber Pakhtunkhwa

The TB Control Programme, Khyber Pakhtunkhwa organised a consultative workshop to develop a comprehensive strategy to create awareness on TB across the province in order to make people aware of diagnostic and treatment services that are available free of
Published 19 Jun, 2013 12:00am
Faysal Bank Limited

Faysal Bank Limited

Brief Introduction: Faysal Bank Limited (FABL) was incorporated in Pakistan in 1994 as a public limited company under the Companies Ordinance, 1984. With its roots in corporate, commercial, retail and Islamic banking activities, FABL now has its pr
Published 19 Jun, 2013 12:00am
Faysal Bank Limited

Faysal Bank Limited

Brief Introduction: Faysal Bank Limited (FABL) was incorporated in Pakistan in 1994 as a public limited company under the Companies Ordinance, 1984. With its roots in corporate, commercial, retail and Islamic banking activities, FABL now has its pr
Published 19 Jun, 2013 12:00am
ICE cotton futures sink on long liquidation, profit-taking

ICE cotton futures sink on long liquidation, profit-taking

ICE cotton futures tumbled on Monday, as investors took profits after last week's steep gains when prices climbed almost to a one-year high touched in mid-March. The most-active December cotton contract on ICE Futures US closed down 0.45 cent, or 0.5 perc
Published 19 Jun, 2013 12:00am
Shanghai copper drops

Shanghai copper drops

The most-traded October copper contract on the Shanghai Futures Exchange fell 1.3 percent to 51,030 yuan a tonne on Tuesday as investors cautious as they wait for more clues on US stimulus policy from a two-day Federal Reserve meeting starting later in th
Published 19 Jun, 2013 12:00am
Copper declines to 1-1/2 months low

Copper declines to 1-1/2 months low

Copper fell to a 1-1/2 month low on Tuesday as investors waited for clarification from Federal Reserve Chairman Ben Bernanke on the central bank's plans for its monetary stimulus programme when a two-day policy meeting ends on Wednesday. Also weighing on
Published 19 Jun, 2013 12:00am
Oil gains moderately

Oil gains moderately

Oil prices ended slightly higher on Tuesday in sluggish trading as the market awaited the Federal Reserve's policy statement on Wednesday that is expected to show whether it will reduce its monetary stimulus. The program has been largely supportive of oil
Published 19 Jun, 2013 12:00am
Tokyo rubber futures down

Tokyo rubber futures down

Tokyo rubber futures fell about 1 percent on Tuesday after the Nikkei slipped in volatile trade and investors stayed on the sidelines, watching for clues to see if the US Federal Reserve would scale back its stimulus. The most active November contract on
Published 19 Jun, 2013 12:00am
Corn jumps two percent

Corn jumps two percent

Chicago Board of Trade (CBOT) corn futures leaped over 2 percent on Monday, posting the biggest one-day advance in nearly a month on soaring cash corn markets and tight stocks of corn. "July (old-crop) is definitely benefiting from the firm cash basis and
Published 19 Jun, 2013 12:00am
Palm oil soars

Palm oil soars

Malaysian palm oil futures rose to near three-month highs on Tuesday as demand for the tropical oil spiked ahead of Ramazan, raising investors' expectations that stocks in the No 2 producer will ease. Exports of Malaysian palm oil in the first half of Jun
Published 19 Jun, 2013 12:00am
Coffee inches up; sugar, cocoa fall

Coffee inches up; sugar, cocoa fall

Arabica coffee futures on ICE inched up on technical trade after hitting the weakest level in nearly four years, although they remained under pressure from a weak Brazilian real and expectations of hefty supplies. ICE raw sugar futures fell during heavy t
Published 19 Jun, 2013 12:00am
Gold slips in New York

Gold slips in New York

Gold fell around 0.5 percent in quiet trade on Monday as a Wall Street rally reduced the need for safe-haven buying and investors awaited this week's US Federal Reserve meeting for signals on the central bank's monetary stimulus plan. Better-than-expected
Published 19 Jun, 2013 12:00am
Gold down in Asia

Gold down in Asia

Gold fell on Tuesday for a second session as muted physical demand weighed on prices, along with fears the US Federal Reserve may pare back its $85 billion monthly bond purchases. Spot gold fell 0.5 percent to $1,378.1 an ounce by 0635 GMT after losing ab
Published 19 Jun, 2013 12:00am
Gold falls in Europe

Gold falls in Europe

Gold fell on Tuesday as the dollar rose and traders took to the sidelines ahead of a Federal Reserve policy meeting they hope will give greater clarity on the outlook for US monetary policy. The dollar rose against a basket of currencies, and equity marke
Published 19 Jun, 2013 12:00am
US MIDDAY: soya rises

US MIDDAY: soya rises

US soyabean futures rose early on Tuesday on dwindling old-crop stocks and continued strength in the cash market as domestic processors scrambled for supplies, traders said. Corn pared gains on profit-taking after the July contract rose to fill a longstan
Published 19 Jun, 2013 12:00am
US MIDDAY: gold tumbles

US MIDDAY: gold tumbles

Gold fell more than 1 percent early on Tuesday as US equities rallied and bullion buyers took to the sidelines before the conclusion of a two-day Federal Reserve policy meeting they hope will give greater clarity on the outlook for US monetary policy. The
Published 19 Jun, 2013 12:00am
KESC condemns forceful possession of its offices

KESC condemns forceful possession of its offices

Karachi Electric Supply Company (KESC) has strongly condemned the forceful possession of its Shah Faisal and Malir offices by violent attackers. Some ruffians at Shah Faisal area also held the utility's employees as hostages for the whole day on Tuesday a
Published 19 Jun, 2013 12:00am
70 companies to participate in '2nd Chem and Dye Tech Expo'

70 companies to participate in '2nd Chem and Dye Tech Expo'

More then 70 companies including some foreign companies from India, Taiwan and China will participate in 2nd Chem and Dye Tech Expo scheduled to be held from June 20 to 22, 2013 at Expo Center. President Karachi Chamber of Commerce and Industry (KCCI), Mo
Published 19 Jun, 2013 12:00am
Revamping of PSEs: undue haste could prove counter-productive

Revamping of PSEs: undue haste could prove counter-productive

Will it ever be possible to revive the loss making, cash starved, burden on economy and half dead Public Sector Enterprises (PSEs), and nepotism and non-transparent procedures eliminated, is the question upper most in the minds of dedicated employees who
Published 19 Jun, 2013 12:00am
Second round of USAID's WIT Management Training programme concludes

Second round of USAID's WIT Management Training programme concludes

US Agency for International Development (USAID), 15 national and multi-national trade firms, and a group of recent university graduating females marked the successful completion of second round of 'Women in Trade Management Training and Mentorship Program
Published 19 Jun, 2013 12:00am
Ending energy crisis, restoring peace top priorities: Murad

Ending energy crisis, restoring peace top priorities: Murad

Sindh government has placed ending energy crisis, restoring peace in the province and creation of new jobs on top of its priorities' list it set for the next fiscal year. At a post-budget press conference, held at CM Sindh House on Tuesday, Advisor to Chi
Published 19 Jun, 2013 12:00am
Arrangements for Urs of Lal Shahbaz Qalander (RA) reviewed

Arrangements for Urs of Lal Shahbaz Qalander (RA) reviewed

The Divisional Commissioner Hyderabad Jamal Mustafa Syed has directed the Sindh Police and District Administration Jamshoro to undertake their joint efforts and to ensure foolproof security plan, safe and smooth traffic flow on the eve of 3-day Annual Urs
Published 19 Jun, 2013 12:00am
Pakistan, Ukraine need to share experience in agriculture

Pakistan, Ukraine need to share experience in agriculture

Pakistan could make tremendous progress in agriculture by sharing and engaging in public-private sector dialogue on the subject with Ukraine. This was stated by Engr M A Jabbar, Honorary Consul of Ukranie in Karachi on his return on Monday night after par
Published 19 Jun, 2013 12:00am
International Day against drug abuse on June 26

International Day against drug abuse on June 26

International Day against drug abuse and illicit trafficking will be marked on June 26 to promote the cause of fight against drug abuse and to forge a coherent approach by all relevant agencies. This annual event was set up by the United Nations General A
Published 19 Jun, 2013 12:00am
Normal monsoon rains forecast

Normal monsoon rains forecast

The met office has forecast normal monsoon rains during July-September 2013 period, saying that the season is likely to begin in last week of June with below normal rainfall. The office in its monsoon outlook said that rainfall during the season would gra
Published 19 Jun, 2013 12:00am
Partly Facetious: Two economic altruisms

Partly Facetious: Two economic altruisms

"Dar told the finance committee that he would waive the one percent rise in sales tax if the committee helps the government generate 60 billion rupees."
Published 19 Jun, 2013 12:00am
The missed opportunities

The missed opportunities

No Capital Gains Tax on stock market trading. Result; index up by 500 points. No Capital Gains Tax on property transactions. Result; urban properties shot up in one week. No Asset Tax on high value properties (read 2 kanals and above houses in Karachi, La
Published 19 Jun, 2013 12:00am
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