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May 12, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-05-28
Asian naphtha crack mostly flat

Asian naphtha crack mostly flat

The Asian naphtha crack was mostly flat at $152.95 a tonne on Tuesday as some traders focussed on steady petrochemical demand rather than on the reduction of supply from Europe as shipments go to West Africa for making gasoline. Naphtha can be reformed in
Published 28 May, 2014 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Tuesday at Pakistan Mercantile Exchange (PMEX) the value traded was reported at PKR 1,839 million. Number of lots traded was registered at 7,551 and PMEX Commodity Index closed at 3,029. Major business was contributed by gold amounting to PKR 1,456 mil
Published 28 May, 2014 12:00am
UHS, HEC joint symposium tomorrow

UHS, HEC joint symposium tomorrow

The University of Health Sciences (UHS) in collaboration with Higher Education Commission (HEC), is organising an International Symposium on Molecular Forensic here on Thursday. The symposium, which is being organised by UHS Forensic Sciences Department,
Published 28 May, 2014 12:00am
Gold tumbles

Gold tumbles

Gold fell 2 percent early on Tuesday, the most in one day since December, as an intraday record high of the S&P 500 equities index and economic optimism triggered a heavy bout of technical selling. The S&P reached a record 1,911.61, boosted by merger acti
Published 28 May, 2014 12:00am
Grains fall

Grains fall

US grain futures fell more than 1 percent on Tuesday, with corn and wheat hitting roughly three-month lows, as favourable crop conditions and signs of easing tensions in major export hub Ukraine sparked investor long liquidation, traders said. Bull spread
Published 28 May, 2014 12:00am
Gold slips two percent in Europe

Gold slips two percent in Europe

Gold slipped 2 percent to a 3-1/2 month low on Tuesday, extending losses after strong US data lifted optimism about the economy, while platinum fell after South Africa's mining minister pledged to mediate in a long-running strike. US consumer confidence r
Published 28 May, 2014 12:00am
Gold down in Asia

Gold down in Asia

Gold slipped on Tuesday as investors nervously await US economic data for directional cues, while platinum group metals were supported as labour strikes dragged on in key producer South Africa. Bullion investors were also eyeing developments in Ukraine, a
Published 28 May, 2014 12:00am
Sugar at one-month low; cocoa off highs

Sugar at one-month low; cocoa off highs

ICE raw sugar futures slid more than 2 percent to a one-month low on Tuesday after data showed an acceleration of Brazil's cane harvest, while cocoa pared gains after hitting the highest levels since September 2011. Arabica coffee dipped in rangebound dea
Published 28 May, 2014 12:00am
Palm oil losses drag into third day

Palm oil losses drag into third day

Malaysian palm oil futures stretched losses into a third straight session on Tuesday, tracking weak vegetable oil markets overseas, with prices further pressured by concerns that export demand will not be strong enough to check rising stockpiles. The benc
Published 28 May, 2014 12:00am
Rubber down

Rubber down

Benchmark Tokyo rubber futures ended 1.1 percent lower from its open on Tuesday, hurt by a slight recovery in the yen against the dollar and the euro in late afternoon, brokers said. The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) fo
Published 28 May, 2014 12:00am
Nickel up on unrest at New Caledonia mine

Nickel up on unrest at New Caledonia mine

Nickel was underpinned on Tuesday after rioting at a Vale mine in New Caledonia intensified worries over supply shortages, while copper hit its highest level in nearly three months on demand recovery hopes. Three-month nickel on the London Metal Exchange
Published 28 May, 2014 12:00am
Shanghai copper down

Shanghai copper down

The most-traded August copper contract on the Shanghai Futures Exchange edged down 0.2 percent to 48,840 yuan ($7,800) a tonne on Tuesday. It hit its highest in three months at 49,210 yuan a tonne the day before. Prices have rebounded almost 10 percent fr
Published 28 May, 2014 12:00am
South African sugar workers to down tools over wages

South African sugar workers to down tools over wages

More than 5,000 workers in the South African sugar industry will embark on a wage strike on Tuesday, a labour union said, which could place further strain on an industry already struggling with high input costs and low prices. In their first strike in 17
Published 28 May, 2014 12:00am
Cotton futures sink to three-month low after Texas rains

Cotton futures sink to three-month low after Texas rains

Cotton futures tumbled to a three-month low on Tuesday, after well-timed rains in Texas over the last five days have boosted expectations that output in the United States, the world's top exporter, will be higher than forecast. The most-active July cotton
Published 28 May, 2014 12:00am
People across world go for branded products, says Canadian diplomat

People across world go for branded products, says Canadian diplomat

Canadian High Commissioner, Greg Giokas, on Tuesday, urged the local businessmen to tag Pakistan as brand to their products to attract global demand. Speaking at a ceremony held under the aegis of Marketing Association of Pakistan (MAP) on the topic of "C
Published 28 May, 2014 12:00am
Grade 17 and above: large number of tax officials are non-filers

Grade 17 and above: large number of tax officials are non-filers

A large number of tax officials (Grade 17 and above) are non-filers of income tax returns for Tax Year 2013. A senior FBR official confirmed to Business Recorder here on Tuesday that out of over 1,700 tax officials of Inland Revenue Service (IRS) a
Published 28 May, 2014 12:00am
Man commits suicide, four injured in attack

Man commits suicide, four injured in attack

One person was committed suicide while four others were injured here on Tuesday in city violence incidents. According to police and rescue sources, Noman, 22, son of Shoukat Ali allegedly shot and killed himself inside his house in Gulshan-e-Hadid, Phase
Published 28 May, 2014 12:00am
Imran urges CoAS to help revive Taliban talks

Imran urges CoAS to help revive Taliban talks

Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Tuesday urged the chief of army staff (CoAS), General Raheel Sharif, to help revive the talk process with Taliban. Speaking at a press conference along with Chief Minister Khyber Pakhtunkhwa, after the
Published 28 May, 2014 12:00am
Killer of stepdaughter arrested

Killer of stepdaughter arrested

Margallah police Islamabad has arrested a person for killing his stepdaughter after allegedly raping her. According to police spokesman, Sumera Bibi was residing with her husband Sabir Gill in quarter number 12/D, Sector E-8 to whom she was married after
Published 28 May, 2014 12:00am
Fresh terror threats: security put on high alert in Capital

Fresh terror threats: security put on high alert in Capital

Amidst fresh terror threats, the government has put the security on high alert in the federal capital and advised provinces to beef up security following threats communicated by the intelligence agencies in the wake of recent military crackdown against th
Published 28 May, 2014 12:00am
Militants' clash claims four lives in NWA

Militants' clash claims four lives in NWA

At least four people were killed and three others injured when two armed groups of militants clashed with each other in Shawal area of North Waziristan tribal region early on Tuesday morning. The mountainous terrain of Shawal is divided between North and
Published 28 May, 2014 12:00am
US hegemony over international banking

US hegemony over international banking

It is time for introspection for those who believe in the equality of nations and reject the principle of "might is right". Arguably, the US had played a leading role in the architecture of Bretton Woods institutions as far back as in 1944 and guiding the
Published 28 May, 2014 12:00am
The historic May 28

The historic May 28

On 28th May 1998, Pakistan detonated several nuclear weapons then widely believed as tit-for-tat response to India's a few weeks before. The occasion triggered nation-wide celebrations, but the world looked askance at a poor, underdeveloped Pakistan forci
Published 28 May, 2014 12:00am
Viva solar park Bahawalpur

Viva solar park Bahawalpur

Prime Minister Nawaz Sharif has recently done foundation laying for a solar park of 100 MW in the village of Lal-sohanra of Cholistan desert and district Bahawalpur. Government of Punjab is implementing this project. In fact, the present project is a part
Published 28 May, 2014 12:00am
Populist advances set to hobble EU integration

Populist advances set to hobble EU integration

Stunning gains by anti-EU and populist parties in the European Parliament elections will prevent any new treaty on deeper euro zone integration for the foreseeable future and may tilt Europe's economic policy mix more towards expansion. With the 28 Europe
Published 28 May, 2014 12:00am
Sri Lanka SEC watchful of stock bubble amid low interest rates

Sri Lanka SEC watchful of stock bubble amid low interest rates

Sri Lanka's stock market regulator is monitoring the risk of a potential bubble forming with a surge in trading activities and amid low interest rates, the head of the island nation's Securities and Exchange Commission said on Tuesday. Average daily turno
Published 28 May, 2014 12:00am
Social deprivation causes crime

Social deprivation causes crime

Social evolution has taught man the principles of peaceful co-existence, the very reason for the transformation from man, to human. The recognition of fundamental human rights and unanimous efforts towards the establishment of societal stability in the wo
Published 28 May, 2014 12:00am
Indian lawyers visit SCBA

Indian lawyers visit SCBA

A delegation of Indian lawyers headed by Professor Bhim Singh visited Supreme Court Bar Association (SCBA) here on Tuesday and exchanged views with the Bar's members. During the meeting, Professor Singh said that Pakistan judiciary is protecting fundament
Published 28 May, 2014 12:00am
Textile industry needs stimulus plan for revival: APTMA

Textile industry needs stimulus plan for revival: APTMA

Chairman APTMA Punjab S M Tanveer has said that the strong fundamentals of textile industry need a stimulus plan for revival in order to ensure employment, export and investment in the country. He said the energy-relating projects under the vision of Chie
Published 28 May, 2014 12:00am
MasterCard, BoP bring financial inclusion to Pakistan

MasterCard, BoP bring financial inclusion to Pakistan

MasterCard and the Bank of Punjab announced on Tuesday the launch of the Social Security Program to automate and streamline government disbursement, subsidy and assistance programs. This first-of-its-kind initiative is aimed at driving financial inclusion
Published 28 May, 2014 12:00am
Traders hail Prime Minister visit to India

Traders hail Prime Minister visit to India

Business community of Southern Punjab hailed the Prime Minister Nawaz Sharif's visit to India terming it historic one and hoped that bilateral meeting of the two neighbours would have their common focus on economic diplomacy. President of Multan Chamber o
Published 28 May, 2014 12:00am
'Government making efforts to foster economic growth'

'Government making efforts to foster economic growth'

"The economic indicators are positive and the growth scale is moving on the right direction. The country's trade stature will be enhanced under the present government," said PML-N Traders' Wing Vice President Arjumand Maqsood. In a statement issued here o
Published 28 May, 2014 12:00am
'Wagha border expansion plan is need of the hour'

'Wagha border expansion plan is need of the hour'

Wagha border expansion plan is need of the hour and an early execution of this project would not only extend tourism facilities to both the local and foreign tourists but would also enable it to serve as a major trade corridor in South Asia. This was stat
Published 28 May, 2014 12:00am
Prime Minister visits Delhi's Jamia mosque

Prime Minister visits Delhi's Jamia mosque

Prime Minister Nawaz Sharif paid a visit to the historic Jamia Masjid of Delhi here on Tuesday. The Prime Minister was accompanied by members of his delegation and Pakistan High Commissioner to India, Abdul Basit. Imam of the Mosque, Syed Ahmed Bukhari re
Published 28 May, 2014 12:00am
Salman made chief of FPCCI body on marketing

Salman made chief of FPCCI body on marketing

President Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has appointed, Chief Operating Officer, Khyber International Pak Pvt Ltd, General Sales Agent (GSA) for Korean Air, Salman Javed as Chairman FPCCI's standing committee on marketing.
Published 28 May, 2014 12:00am
KE apologises for more loadshedding

KE apologises for more loadshedding

K-Electric (KE) has clarified regarding the outage that took place Monday night saying that humidity levels along with the rising thermometer led to tripping that affected its 220 KV extra-high tension line. Due to this tripping, out of a total 62 grid st
Published 28 May, 2014 12:00am
PML-N to restore peace, normalcy in country: Mahtab

PML-N to restore peace, normalcy in country: Mahtab

Khyber Pakhtunkhwa Governor, Sardar Mahtab Ahmad Khan has said that restoration of peace and normalcy in entire country; this province and FATA in particular in true sense is beyond doubt a most challenging task and we have taken over this responsibility
Published 28 May, 2014 12:00am
LeT not behind attack on Indian consulate in Herat

LeT not behind attack on Indian consulate in Herat

Lashkar-e-Taiba (LeT) denied Monday that it was behind an attack last week by gunmen on an Indian diplomatic mission in Afghanistan, in a call to AFP. Afghan President Hamid Karzai said Monday that he had been informed by a Western intelligence agency tha
Published 28 May, 2014 12:00am
Levies' men murder: tribal leader Mengal booked

Levies' men murder: tribal leader Mengal booked

The Balochistan government on Tuesday registered a case against tribal leader Mir Shafiq Mengal in connection with the murder of eight Levies personnel in Khuzdar district last week. According to Home and Tribal Affairs Department sources, the FIR was lod
Published 28 May, 2014 12:00am
High-handedness of police: handicapped cloth suppliers launch protest

High-handedness of police: handicapped cloth suppliers launch protest

Handicapped cloth suppliers Tuesday held a protest demonstration against police personnel allegedly torturing them on refusal to pay extortion. The protesting handicapped persons led by Shakoor and Stana Gul were holding placards inscribed with slogans in
Published 28 May, 2014 12:00am
UK RCDS Commandant calls on CoAS

UK RCDS Commandant calls on CoAS

Lieutenant General Sir David Robert Bill, Commandant Royal College of Defence Studies (RCDS) United Kingdom, called on Chief of Army Staff (CoAS) General Raheel Sharif at the General Headquarters on Tuesday. He was leading the RCDS delegation on a three-d
Published 28 May, 2014 12:00am
Capacity tax to go: new tax structure for beverages to be introduced

Capacity tax to go: new tax structure for beverages to be introduced

The government is planning to abolish capacity tax on beverages in budget (2014-15) and introduce revised rates of Federal Excise Duty (FED) and sales tax on beverage sector from next fiscal year. Sources told Business Recorder here on Tuesday that
Published 28 May, 2014 12:00am
Broadening tax base: over 91,000 notices issued during 2013-14

Broadening tax base: over 91,000 notices issued during 2013-14

The Federal Board of Revenue (FBR) has issued over 91,000 notices to unregistered persons and potential taxpayers during 2013-14 under the drive to expand the tax base. Sources told Business Recorder here on Tuesday that only 8,600 persons voluntar
Published 28 May, 2014 12:00am
Conventional insurance firms allowed to offer Takaful products

Conventional insurance firms allowed to offer Takaful products

The insurance products have long been criticised as not being compatible with the Shariah and their perception of not being non-Shariah-compliant has led to under-utilisation by the Muslim masses in various countries. Takaful, the Islamic alternative to i
Published 28 May, 2014 12:00am
First dual SIM Lumia 630 launched

First dual SIM Lumia 630 launched

The Nokia Lumia 630 Dual SIM with Windows Phone 8.1 in now available in Pakistan. The first Dual SIM Lumia smartphone delivers an unrivalled affordable smartphone experience, with quad-core processing and a ClearBlack 4.5" LCD screen.
Published 28 May, 2014 12:00am
Imran Farooq murder: London police release pictures of two suspects

Imran Farooq murder: London police release pictures of two suspects

The London Metropolitan Police have released picture of two suspects involved in murder of the MQM leader Imran Farooq. London police released pictures of suspects Mohsin Ali and Kashif Khan, who had reportedly arrived on student visa in London. The polic
Published 28 May, 2014 12:00am
PTA chief seeks government help to boost leather products' export

PTA chief seeks government help to boost leather products' export

Pakistan Tanners Association's (PTA) Chairman Fawad Jawed said here on Tuesday that a small support from the Ministry of Commerce could help boost leather products' export to $3 billion in the next three years, making the industry second biggest after tex
Published 28 May, 2014 12:00am
Torturing of old prisoner: IHC seeks report from IG Punjab Prisons

Torturing of old prisoner: IHC seeks report from IG Punjab Prisons

The Islamabad High Court Tuesday sought comprehensive report from Inspector General (IG) Punjab Prisons pertaining to the torturing of 68-year-old prisoner in Adiala Jail. Ghulam Mustafa Gilani, who is undergone life imprisonment at Adiala Jail, was bruta
Published 28 May, 2014 12:00am
10 kids among 16 killed in bus accident

10 kids among 16 killed in bus accident

A bus accident on Tuesday in Swat left 16 people dead, including 10 children, officials said. The bus, carrying passengers home from the central Punjab province to the Kalam hill station in Swat district, crashed on the roadside close to a river in the ea
Published 28 May, 2014 12:00am
Proposed rise in GST on exports widely opposed

Proposed rise in GST on exports widely opposed

Industrialists, manufacturers, exporters and traders have expressed their concern over proposed increase in sales tax on exports from two to five percent, mentioning that it would greatly hamper exports to play havoc with the value-added export sector of
Published 28 May, 2014 12:00am
PU holds seminar: lecture on social, political history of Urdu language

PU holds seminar: lecture on social, political history of Urdu language

Punjab University Oriental College Department of Urdu has organised a seminar in which Pakistan's renowned linguistic expert Dr Tariq Rehman delivered a comprehensive lecture on social and political history of Urdu language. He denied all false assumption
Published 28 May, 2014 12:00am
Youm-e-Takbeer important day in defence history: Shahbaz

Youm-e-Takbeer important day in defence history: Shahbaz

Punjab Chief Minister Muhammad Shahbaz Sharif has said that May 28 is a very important day in the political and defence history of Pakistan as on this day, this great country of Islamic world wrote a new history by conducting nuclear tests despite great p
Published 28 May, 2014 12:00am
PTI Punjab slams PML-N's MPA for slapping doctor

PTI Punjab slams PML-N's MPA for slapping doctor

Pakistan Tehrik-e-Insaf (PTI) Punjab on Tuesday condemned the shameful behaviour shown by the PML-N MPA Rao Kashif Raheem who slapped a doctor working at Samundri Tehsil Head Quarter Hospital, Faisalabad. PTI provincial leaders Ejaz Ahmed Chaudhary, Dr Ya
Published 28 May, 2014 12:00am
Friendly ties with Afghanistan vital for economy: Khattak

Friendly ties with Afghanistan vital for economy: Khattak

Senator Afrasiab Khattak has underscored the need for friendly ties with the neighbouring Afghanistan which is vital for boosting bilateral trade and peace in the region. Speaking at a forum on "Afghanistan Presidential Elections 2014" organised by Pakist
Published 28 May, 2014 12:00am
Steel sector, ship breakers: FBR proposes increase in sales tax rates

Steel sector, ship breakers: FBR proposes increase in sales tax rates

The Federal Board of Revenue (FBR) has proposed increase in sales tax rates for steel melters, re-rolling mills and ship breakers in coming budget (2014-15) to generate additional revenue of Rs 6-8 billion from these sectors. Sources told Business Reco
Published 28 May, 2014 12:00am
Pemra member's appointment challenged

Pemra member's appointment challenged

A writ petition challenging the appointment of Pervaiz Rathore as member Pakistan Electronic Media Regulatory Authority (Pemra) was filed in the Islamabad High Court on Tuesday by Sohail Bhatti through his counsel Advocate Hafiz Irfan Ahmed Chaudhry. The
Published 28 May, 2014 12:00am
Non-payment of dues: KWSB serves notices on Malir Cantt, PR

Non-payment of dues: KWSB serves notices on Malir Cantt, PR

Karachi Water 8 Sewerage Board (KWSB) has served final disconnection notices on Malir Cantonment Board and Pakistan Railways for non-payment of outstanding dues of Rs 100 million and Rs 80 million, respectively. According to KWSB spokesman, the water util
Published 28 May, 2014 12:00am
Budget 2014-15: specific excise tax proposed to curb use of tobacco

Budget 2014-15: specific excise tax proposed to curb use of tobacco

In a bid to discourage the use of tobacco in Pakistan, having one of the largest populations of tobacco users in the world, leading economists, foreign experts and tax officials proposed a high uniform specific cigarette excise tax in the forthcoming budg
Published 28 May, 2014 12:00am
Budget 2014-15: specific excise tax proposed to curb use of tobacco

Budget 2014-15: specific excise tax proposed to curb use of tobacco

In a bid to discourage the use of tobacco in Pakistan, having one of the largest populations of tobacco users in the world, leading economists, foreign experts and tax officials proposed a high uniform specific cigarette excise tax in the forthcoming budg
Published 28 May, 2014 12:00am
Lagarde warns on slow pace of financial sector reform
Libor

Lagarde warns on slow pace of financial sector reform

Progress to overhaul the global banking sector and prevent another financial crisis has been "too slow", International Monetary Fund chief Christine Lagarde warned here on Tuesday. "The good news is that the international community has made progress on th
Published 28 May, 2014 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. 77.63-77.6325 (77.63-77.63). Call Money Rates: 05.75-07.25 percent (previous 05.75-07.25 percent).
Published 28 May, 2014 12:00am
Indian rupee sees worst fall in over two months

Indian rupee sees worst fall in over two months

The Indian rupee posted its biggest single-day fall in more than two months on Tuesday, dropping for a third straight session, weighed down by continued profit-taking in domestic shares and month-end dollar demand from importers. After Narendra Modi was s
Published 28 May, 2014 12:00am
Rupee leads Asian FX slide

Rupee leads Asian FX slide

The Indian rupee led losses among emerging Asian currencies on Tuesday as investors took profits amid weaker regional stocks even though the European Central Bank chief Mario Draghi increased expectations of more monetary policy easing. "Such a stance is
Published 28 May, 2014 12:00am
UK mortgage lending data halts sterling in its tracks

UK mortgage lending data halts sterling in its tracks

Sterling weakened against the dollar on Tuesday after a fall in British mortgage lending gave investors an excuse to cash in on the pound's recent gains a day after US drug company Pfizer abandoned its attempt to buy Britain's AstraZeneca. Data from the B
Published 28 May, 2014 12:00am
UK mortgage lending data halts sterling in its tracks

UK mortgage lending data halts sterling in its tracks

Sterling weakened against the dollar on Tuesday after a fall in British mortgage lending gave investors an excuse to cash in on the pound's recent gains a day after US drug company Pfizer abandoned its attempt to buy Britain's AstraZeneca. Data from the B
Published 28 May, 2014 12:00am
FTSE lifted by gains in ARM and hotel group IHG

FTSE lifted by gains in ARM and hotel group IHG

Britain's main equity index climbed on Tuesday, lifted by gains in chip designer ARM and InterContinental Hotels Group (IHG), which pushed the market back to within reach of its record high. The blue-chip FTSE 100 index closed up 29.19 points, or 0.4 perc
Published 28 May, 2014 12:00am
Australian shares flat

Australian shares flat

Australian shares finished a choppy session flat on Tuesday with the broader market bolstered by a modest recovery among resource stocks, though Suncorp Group weighed on the index after a A$500 million writedown caused its shares to fall sharply. Suncorp
Published 28 May, 2014 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.18 percent in early trade on Tuesday, led by local wireless operator Asia Pacific Telecom Co Ltd, which announced it would sell a stake and eventually merge with a unit of Apple Inc supplier Hon Hai Precision Industry Co Ltd. As of 02
Published 28 May, 2014 12:00am
European equities set new highs; leisure shares help

European equities set new highs; leisure shares help

European shares rose to multi-year highs on Tuesday, bolstered by US economic data, mergers and acquisitions talk and expectations of more policy easing by the European Central Bank. New economic numbers showed orders for long-lasting US manufactured good
Published 28 May, 2014 12:00am
China, Hong Kong shares down

China, Hong Kong shares down

China shares slipped on Tuesday, as there was a lack of catalysts to spur buying and recent signals from Beijing on policy fine-tuning to support economic growth failed to improve appetites for risk. The Shanghai Composite Index was off 0.3 percent at 2,0
Published 28 May, 2014 12:00am
Southeast Asian markets: Thai shares snap losing streak

Southeast Asian markets: Thai shares snap losing streak

Thai shares rose on Tuesday as new military rulers have started to tackle economic problems, boosting consumer and construction stocks such as CP All and Italian Thai Development, while others in Southeast Asia were little changed. Thailand's key SET inde
Published 28 May, 2014 12:00am
South Africa stocks slip as gloomy GDP data weighs

South Africa stocks slip as gloomy GDP data weighs

South African stocks snapped six straight sessions of gains on Tuesday, declining 0.33 percent after data showed a massive platinum strike had tipped the economy to the verge of a recession. Packaging firm Nampak shed 3.6 percent to 35.80 rand after it ca
Published 28 May, 2014 12:00am
Tokyo stocks soar

Tokyo stocks soar

Tokyo stocks rose 0.23 percent on Tuesday to their highest close in nearly two months, as the weaker yen boosted exporters in thin trading. The benchmark Nikkei 225 index added 34.00 points to finish at 14,636.52, the highest finish since April 7, while t
Published 28 May, 2014 12:00am
Indian shares falter; investors wait for Modi to deliver

Indian shares falter; investors wait for Modi to deliver

India's NSE index fell for a second consecutive session as investors continued to book profits in recent outperformers such as State Bank of India while they wait for actual policies from Prime Minister Narendra Modi and his new cabinet. Arun Jaitley, who
Published 28 May, 2014 12:00am
UAE, Qatar bourses outperform again as MSCI upgrade approaches

UAE, Qatar bourses outperform again as MSCI upgrade approaches

Stock markets in the United Arab Emirates and Qatar outperformed the region once again on Tuesday because of the approach of MSCI's upgrade of those markets, even though many institutions believe many shares are now richly valued. Dubai's main index climb
Published 28 May, 2014 12:00am
US factory, confidence data boost growth prospects

US factory, confidence data boost growth prospects

Orders for long-lasting US manufactured goods unexpectedly rose in April and consumer confidence perked up in May, supporting views of a rebound in economic growth. Other data on Tuesday showed home prices moving higher in March and services industries, w
Published 28 May, 2014 12:00am
India's new finance minister Jaitley targets growth revival

India's new finance minister Jaitley targets growth revival

India's new finance minister Arun Jaitley said restoring growth and containing inflation are the key challenges facing the country's government, shortly after being handed the critical portfolio on Tuesday. Jaitley, a top corporate lawyer, said the govern
Published 28 May, 2014 12:00am
Vietnamese farmers hold coffee beans as prices fall

Vietnamese farmers hold coffee beans as prices fall

Vietnamese coffee farmers are slowing down sales as prices fall amid slow demand, in hopes that prices recover back above the 40,000 dong per kg level, traders said on Tuesday. Farmers in the world's largest robusta producer are holding onto stocks from t
Published 28 May, 2014 12:00am
Ginners reluctant to make deals on hopes of further price increase

Ginners reluctant to make deals on hopes of further price increase

Ginners with depleted stock not in a hurry to part their ways with their cotton stock in anticipation of getting higher prices, dealers said on the cotton market on Tuesday. The official spot rate held the overnight level at Rs 6,950, they added. In the r
Published 28 May, 2014 12:00am
Grain market closed for local holiday

Grain market closed for local holiday

According to the press release of the Karachi Grain and Seeds Merchant Group, rates showed no change on the wholesale commodity and oilseeds market as markets were closed on Tuesday on account of Shab-e-Meraj.
Published 28 May, 2014 12:00am
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