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Print - 2014-05-20
Punjab Assembly adopts pro-army resolution

Punjab Assembly adopts pro-army resolution

In absence of opposition benches, the Punjab Assembly on Monday passed a resolution to express solidarity with the armed forces. Punjab Law Minister Rana Sanaullah tabled a resolution that stated that this House expresses complete solidarity with the arme
Published 20 May, 2014 12:00am
Punjab Assembly adopts pro-army resolution

Punjab Assembly adopts pro-army resolution

In absence of opposition benches, the Punjab Assembly on Monday passed a resolution to express solidarity with the armed forces. Punjab Law Minister Rana Sanaullah tabled a resolution that stated that this House expresses complete solidarity with the arme
Published 20 May, 2014 12:00am
Congress rejects: Gandhis' resignation offers

Congress rejects: Gandhis' resignation offers

India's Sonia and Rahul Gandhi offered to resign Monday after leading the once-dominant Congress party to its worst-ever election defeat last week, only for colleagues to insist the dynasty stay in place. Congress won just 44 seats in the parliamentary el
Published 20 May, 2014 12:00am
Congress rejects: Gandhis' resignation offers

Congress rejects: Gandhis' resignation offers

India's Sonia and Rahul Gandhi offered to resign Monday after leading the once-dominant Congress party to its worst-ever election defeat last week, only for colleagues to insist the dynasty stay in place. Congress won just 44 seats in the parliamentary el
Published 20 May, 2014 12:00am
Modi win brightens MFN prospects

Modi win brightens MFN prospects

The election of Hindu nationalist Narendra Modi has sent shivers through many among India's 150-million strong Muslim community, but neighbouring Pakistan is cautiously hopeful for a thaw in long-fraught ties. Prime Minister Nawaz Sharif, who is himself a
Published 20 May, 2014 12:00am
Modi win brightens MFN prospects

Modi win brightens MFN prospects

The election of Hindu nationalist Narendra Modi has sent shivers through many among India's 150-million strong Muslim community, but neighbouring Pakistan is cautiously hopeful for a thaw in long-fraught ties. Prime Minister Nawaz Sharif, who is himself a
Published 20 May, 2014 12:00am
External debt servicing crosses $5 billion mark

External debt servicing crosses $5 billion mark

The country''s total external debt servicing crossed $5 billion mark, up by 30 percent, during the first nine months of current fiscal year 2013-14 (FY14), owing to massive repayments to the International Monetary Fund (IMF). Economists said the higher ex
Published 20 May, 2014 12:00am
External debt servicing crosses $5 billion mark

External debt servicing crosses $5 billion mark

The country's total external debt servicing crossed $5 billion mark, up by 30 percent, during the first nine months of current fiscal year 2013-14 (FY14), owing to massive repayments to the International Monetary Fund (IMF). Economists said the higher ext
Published 20 May, 2014 12:00am
External debt servicing crosses $5 billion mark

External debt servicing crosses $5 billion mark

The country's total external debt servicing crossed $5 billion mark, up by 30 percent, during the first nine months of current fiscal year 2013-14 (FY14), owing to massive repayments to the International Monetary Fund (IMF). Economists said the higher ext
Published 20 May, 2014 12:00am
Low uplift spending: fiscal deficit revised downward, Cabinet told

Low uplift spending: fiscal deficit revised downward, Cabinet told

The federal Cabinet was informed that fiscal deficit for the current fiscal year has been revised downward to 5.7 percent from the budgeted 6.3 percent, largely because of a significantly less than budgeted development spending by federal and provincial g
Published 20 May, 2014 12:00am
Low uplift spending: fiscal deficit revised downward, Cabinet told

Low uplift spending: fiscal deficit revised downward, Cabinet told

The federal Cabinet was informed that fiscal deficit for the current fiscal year has been revised downward to 5.7 percent from the budgeted 6.3 percent, largely because of a significantly less than budgeted development spending by federal and provincial g
Published 20 May, 2014 12:00am
Low uplift spending: fiscal deficit revised downward, Cabinet told

Low uplift spending: fiscal deficit revised downward, Cabinet told

The federal Cabinet was informed that fiscal deficit for the current fiscal year has been revised downward to 5.7 percent from the budgeted 6.3 percent, largely because of a significantly less than budgeted development spending by federal and provincial g
Published 20 May, 2014 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (May 19, 2014).
Published 20 May, 2014 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (May 19, 2014).

Published 20 May, 2014 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (May 19, 2014).
Published 20 May, 2014 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (May 19, 2014).

Published 20 May, 2014 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (May 19, 2014).

Published 20 May, 2014 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (May 19, 2014).

Published 20 May, 2014 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (May 19, 2014).

Published 20 May, 2014 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

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
Published 20 May, 2014 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

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
Published 20 May, 2014 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

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
Published 20 May, 2014 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 20 May, 2014 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 20 May, 2014 12:00am
Bangladesh to sell naphtha at price with premium

Bangladesh to sell naphtha at price with premium

Bangladesh Petroleum Corp (BPC) will sell 170,000 barrels of naphtha to MRI Trading in May at a premium of $1.15 a barrel to Singapore quotes on a free-on-board (FOB) basis, the highest price in more than a year and sharply up from a previous sale. Five f
Published 20 May, 2014 12:00am
Thailand gold demand, imports plummet

Thailand gold demand, imports plummet

Thai gold imports look set to stay weak after plunging to a fifth of last year's levels, with investors shying away from the metal amid prolonged political upheaval in the country. Higher imports in 2013, when a sharp fall in gold prices prompted many con
Published 20 May, 2014 12:00am
Chicago wheat drops to five-week low

Chicago wheat drops to five-week low

Chicago wheat dropped to a five-week low on Monday with improving weather in the drought-hit US Plains and prospects of plentiful global supplies dragging on prices. Corn slid to its lowest since March 11 due to expectations for good progress on planting
Published 20 May, 2014 12:00am
Oil cake market rates

Oil cake market rates

An upward trend was seen on the forward cottonseeds oilcake market on Monday in process of trading, dealers said. The May contract closed at Rs 1751.80 and it commenced with 70 paisa rise at Rs 1752.50 in the morning session, the July vaida ended at Rs 18
Published 20 May, 2014 12:00am
Cotton market: sustained buying pushes rates up

Cotton market: sustained buying pushes rates up

Sustained buying from millers and exporters boosted the rates on the cotton market on Monday, dealers said. The official spot rate maintained week-end trend, showing further gain of Rs 50 to Rs 6,850, they added. In the ready session, 2,000 bales of cotto
Published 20 May, 2014 12:00am
HRW wheat bids steady

HRW wheat bids steady

Spot basis bids for hard red winter wheat were steady in the southern US Plains on Monday as harvest approached, dealers said. Protein premiums for railcar wheat to and through Kansas City rose 5 cents a bushel for 11.80- through 12.80 percent protein whe
Published 20 May, 2014 12:00am
Indonesia's rubber output seen down

Indonesia's rubber output seen down

Erratic weather triggered by the El Nino weather phenomenon could cut rubber output in Indonesia, the second-largest producer, by around 3 percent to 3 million tonnes this year, a senior industry official said. "Output may fall by 100,000 tonnes this year
Published 20 May, 2014 12:00am
Turkey tenders to import wheat, barley

Turkey tenders to import wheat, barley

Turkey's state grain board TMO has issued an import tender to buy up to 190,000 tonnes of milling wheat and up to 100,000 tonnes of feed barley, European traders said on Monday, as the country faces the risk of a drought-reduced local harvest. Turkey is a
Published 20 May, 2014 12:00am
Prices mixed on grain market

Prices mixed on grain market

Prices moved both ways on the wholesale grain market on Monday in process of modest trading, dealers said. On the cereals side, Guwar Sindh and Punjab were down by Rs 100 to Rs 5400 and Rs 5600, other commodity items were unchanged during the trading, the
Published 20 May, 2014 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Monday at Pakistan Mercantile Exchange (PMEX) the value traded was reported at PKR 2,987 million. Number of lots traded were registered at 13,809 and PMEX Commodity Index closed at 3,024. Major business was contributed by gold amounting to PKR 1,496 mi
Published 20 May, 2014 12:00am
France sees 5.5 percent fall in maize area this year

France sees 5.5 percent fall in maize area this year

The French farm ministry estimates the country's grain maize area will be 1.67 million hectares this year, down 5.5 percent on 2013, as good conditions for winter crops left less room for spring sowing. However, this year's grain maize area will still be
Published 20 May, 2014 12:00am
Indian coffee prices fall

Indian coffee prices fall

Coffee prices in India fell at a weekly auction on weak overseas leads, and lower export demand. Coffee prices, both in New York and London, were on a downward trend over the last one week. Arabica Coffee at New York spot May was lower by 17.65 cents per
Published 20 May, 2014 12:00am
Iron ore futures in China, Singapore slump to their lowest

Iron ore futures in China, Singapore slump to their lowest

Iron ore futures in China and Singapore slumped to their lowest ever on Monday, pressured by rising supply and a weaker Chinese steel market that have pulled down spot prices to their cheapest since September 2012. With prices down 25 percent this year, a
Published 20 May, 2014 12:00am
Ivory Coast's rains concerns mixed for cocoa crop

Ivory Coast's rains concerns mixed for cocoa crop

Abundant and regular rains last week in Ivory Coast's cocoa growing regions raised concerns of crop damage, although conditions were good for the development of the mid-crop elsewhere, farmers said on Monday. The marketing season for the April-to-Septembe
Published 20 May, 2014 12:00am
US Midwest corn, soya basis bids steady

US Midwest corn, soya basis bids steady

Corn spot basis bids were steady at elevators and processors in the US Midwest on Monday in quiet trade as farmers waited for drier field conditions, grain merchants said. Wet fields in the Eastern Corn Belt kept most farmers from resuming planting activi
Published 20 May, 2014 12:00am
US natural gas futures up nearly 2 percent on short covering

US natural gas futures up nearly 2 percent on short covering

US natural gas futures rose almost 2 percent on Monday despite moderate weather forecasts, as traders covered shorts after the market lost more than 5 percent over the past two weeks on stronger-than-normal storage builds and record production forecasts.
Published 20 May, 2014 12:00am
Russian new crop wheat prices down

Russian new crop wheat prices down

Russian new crop wheat prices fell $5 per tonne last week, with supplies from Ukraine unaffected by its crisis and on expectations the new harvest will be helped by good weather, the Institute for Agricultural Market Studies (IKAR) said. Russian wheat pri
Published 20 May, 2014 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 96,555 tonnes of cargo comprising 96,281 tonnes of import cargo and 274 tonnes of export cargo including 1,517 loaded and empty containers during the last 24 hours ending at 0700 hours on Monday. The total import cargo of 96,281 t
Published 20 May, 2014 12:00am
Asian naphtha price spreads near 2-month low

Asian naphtha price spreads near 2-month low

The Asian naphtha price spread between first-half July and first-half August cargoes narrowed to $14 a tonne, the lowest level since March 20, Thomson Reuters data showed. The H1 July/H1 August spread was down $2 a tonne from Friday. Demand for naphtha ma
Published 20 May, 2014 12:00am
Value of coffee sold at Kenyan auction jumps 24 percent

Value of coffee sold at Kenyan auction jumps 24 percent

The value of coffee sold at Kenya's auction jumped 24 percent to $83.5 million in the half-year to March, driven by improved global prices and better quality crop, a senior official said on Monday. The east Africa nation, whose high-quality beans are soug
Published 20 May, 2014 12:00am
UK's bank standards body gets support from BoE's Carney

UK's bank standards body gets support from BoE's Carney

Bank of England governor Mark Carney has backed a plan by Britain's biggest banks to set up a new body to improve standards in an industry rocked by a string of scandals. The Banking Standards Review Council (BSRC), funded by but independent from the bank
Published 20 May, 2014 12:00am
New round of Atlantic trade pact talks opens in Washington

New round of Atlantic trade pact talks opens in Washington

US and European negotiators opened a new round of talks on creating a transatlantic free trade zone Monday amid rising political and public resistance to the deal on both sides. The fifth round of negotiations on the Transatlantic Trade and Investment Par
Published 20 May, 2014 12:00am
Deutsche Bank turns to Qatar in massive capital hike

Deutsche Bank turns to Qatar in massive capital hike

Deutsche Bank is turning to the Qatari royal family in a bid to raise 8.0 billion euros ($11 billion) in fresh funding and assuage fears over its capital strength. Germany's biggest lender unveiled late Sunday plans to implement the second-biggest capital
Published 20 May, 2014 12:00am
Deutsche Bank turns to Qatar in massive capital hike

Deutsche Bank turns to Qatar in massive capital hike

Deutsche Bank is turning to the Qatari royal family in a bid to raise 8.0 billion euros ($11 billion) in fresh funding and assuage fears over its capital strength. Germany's biggest lender unveiled late Sunday plans to implement the second-biggest capital
Published 20 May, 2014 12:00am
AstraZeneca rejects Pfizer's offer

AstraZeneca rejects Pfizer's offer

Britain's AstraZeneca on Monday rejected a sweetened and "final" offer from Pfizer , undermining the US drugmaker's plan for a merger to create the world's biggest pharmaceuticals group. The rebuff came nine hours after Pfizer said on Sunday it had raised
Published 20 May, 2014 12:00am
AstraZeneca rejects Pfizer's offer

AstraZeneca rejects Pfizer's offer

Britain's AstraZeneca on Monday rejected a sweetened and "final" offer from Pfizer , undermining the US drugmaker's plan for a merger to create the world's biggest pharmaceuticals group. The rebuff came nine hours after Pfizer said on Sunday it had raised
Published 20 May, 2014 12:00am
Record Japan machinery orders suggest economy may jump tax hurdle

Record Japan machinery orders suggest economy may jump tax hurdle

Japanese businesses raised orders for machinery by the most ever in March and expect to book more orders this quarter, another sign that capital investment may buffer the economy from the pain of last month's sales tax hike. Haunted by a stumble in the ec
Published 20 May, 2014 12:00am
Major banks' commodities revenue up first time since 2011

Major banks' commodities revenue up first time since 2011

Commodities revenue at the top 10 investment banks climbed 26 percent in the January-March period, the first gain in first-quarter turnover since 2011, due to higher US power and gas turnover plus stronger investor interest, a consultancy said. Revenue fr
Published 20 May, 2014 12:00am
Major banks' commodities revenue up first time since 2011

Major banks' commodities revenue up first time since 2011

Commodities revenue at the top 10 investment banks climbed 26 percent in the January-March period, the first gain in first-quarter turnover since 2011, due to higher US power and gas turnover plus stronger investor interest, a consultancy said. Revenue fr
Published 20 May, 2014 12:00am
EU well short of 2015 aid target, needs another 41 billion euros

EU well short of 2015 aid target, needs another 41 billion euros

European Union member states are only slowly increasing overseas aid and need to nearly double their efforts if they are to hit their 2015 target, a report said on Monday. A report on 2013 Official Development Assistance (ODA) prepared for the 28 member n
Published 20 May, 2014 12:00am
EU well short of 2015 aid target, needs another 41 billion euros

EU well short of 2015 aid target, needs another 41 billion euros

European Union member states are only slowly increasing overseas aid and need to nearly double their efforts if they are to hit their 2015 target, a report said on Monday. A report on 2013 Official Development Assistance (ODA) prepared for the 28 member n
Published 20 May, 2014 12:00am
World luxury market to grow 2 percent in 2014

World luxury market to grow 2 percent in 2014

The world luxury market has reached a "maturity and stabilisation" phase with growth of around 2 percent expected this year - around the same level as in 2013. The study by the US consultancy Bain&Company and the Fondazione Altagamma, which said in a stat
Published 20 May, 2014 12:00am
ECB fuels speculation of imminent rate cut

ECB fuels speculation of imminent rate cut

The European Central Bank issued another signal Monday that it is preparing further moves to avert the risk of deflation in the 18 countries that share the euro. A leading member of the ECB's executive board, Yves Mersch, said that the likelihood of furth
Published 20 May, 2014 12:00am
Western banks may steer clear of Russian loans for a year

Western banks may steer clear of Russian loans for a year

Most Western banks are shunning Russia's syndicated loan market as a result of the Ukraine crisis and could stay away for a year or more, despite the potential loss of more than $45 billion in business. Fears over the impact of current and threatened futu
Published 20 May, 2014 12:00am
Dubai's index in biggest drop in 8 months, most Gulf markets fall

Dubai's index in biggest drop in 8 months, most Gulf markets fall

Dubai's index makes its one-day decline in eight months on Monday and technical indicators suggest it will fall further, while most other Middle East markets also retreated. Dubai fell 5.5 percent to 4,856 points, its lowest close in a month and biggest o
Published 20 May, 2014 12:00am
Australian shares tumble

Australian shares tumble

Australian shares fell 1.3 percent on Monday, pulled down by blue-chip banking and mining stocks in muted trade as iron ore and Chinese steel futures slumped, while UGL dropped after receiving only one bid for its real estate arm. The S&P/ASX 200 index lo
Published 20 May, 2014 12:00am
Indian shares rise to record high on Modi hopes

Indian shares rise to record high on Modi hopes

Indian shares hit a record closing high on Monday as investors continued to switch to stocks with a domestic focus, such as NTPC, on hopes the new government to be led by Narendra Modi would spur major economic reforms. However, broader gains were capped
Published 20 May, 2014 12:00am
Monday's midday trade: S&P and Nasdaq gain, but investors cautious

Monday's midday trade: S&P and Nasdaq gain, but investors cautious

US stocks mostly advanced on Monday as investors exercised caution over valuations after a run of mixed economic data, but another drop in bond yields helped support equities. US-listed shares of AstraZeneca tumbled 11.1 percent to $71.39. The British dru
Published 20 May, 2014 12:00am
Taiwan stocks flat

Taiwan stocks flat

Taiwan stocks were flat in early morning trade on Monday, largely in line with other regional bourses as investors await word from global central banks on future economic policy. As of 0150 GMT, the main TAIEX index rose 2.03 points to 8,886.42, after clo
Published 20 May, 2014 12:00am
Southeast Asian markets: Malaysia hits record high; Indonesia down

Southeast Asian markets: Malaysia hits record high; Indonesia down

Malaysian shares hit a record high on Monday, helped by foreign inflows after the country's economic growth came in above expectations in the first quarter, but Indonesia retreated due to a surprise political move by the country's second largest party. Ma
Published 20 May, 2014 12:00am
Tokyo stocks down

Tokyo stocks down

Tokyo stocks fell 0.64 percent Monday as the stronger yen held back exporter shares, after the market initially rose on a Wall Street rally and upbeat Japanese machinery orders. The benchmark Nikkei 225 index lost 90.15 points to finish at 14,006.44, whil
Published 20 May, 2014 12:00am
Hong Kong stocks flat; Shanghai sinks on IPO glut fears

Hong Kong stocks flat; Shanghai sinks on IPO glut fears

Hong Kong shares ended marginally lower on Monday despite a positive lead from Wall Street, as investors followed a sell-off in China while awaiting key manufacturing data later in the week. The benchmark Hang Seng Index slipped 0.04 percent, or 8.41 poin
Published 20 May, 2014 12:00am
AstraZeneca, Deutsche Bank drag down European shares

AstraZeneca, Deutsche Bank drag down European shares

European equities slipped on Monday, pulled down by pharmaceuticals group AstraZeneca , which slumped after rejecting a bid from Pfizer , and by Deutsche Bank's capital increase. The pan-European FTSEurofirst 300 index, which last week hit a 6-year high o
Published 20 May, 2014 12:00am
Sri Lankan stocks steady

Sri Lankan stocks steady

Sri Lanka stocks edged up on Monday to their highest close in more than 11 months ahead of the central bank's monetary policy announcement, led by telecoms and financials, while foreign buying boosted sentiment. The main stock index edged up 0.06 percent,
Published 20 May, 2014 12:00am