Prime Minister Nawaz Sharif Monday took both the two houses of Parliament into confidence on military operation 'Zarb-e-Azb' launched against militants in North Waziristan, saying "the crackdown will continue till the realisation of objectives." Reading o
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
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
Asia's naphtha crack eased for the third straight session to a near two-week low, as abundant regional supplies weighed, traders said on Monday. The naphtha crack against Brent crude stood at $128.85 a tonne, down $4.05 a tonne, Reuters data showed. "Naph
India's palm oil imports rose 22 percent to 654,255 tonnes in May from a month ago, data from the Solvent Extractors' Association of India showed, as buyers stocked up ahead of the Muslim holy month of Ramazan when demand typically peaks. Palm oil imports
European wheat's five weeks decline paused on Monday but pressure from ample supplies remained, notably in the United States where harvest has started. November milling wheat was down 0.25 euro or 0.1 percent at 187.00 euros a tonne by 1521 GMT after risi
The July vaida was lower while the December delivery was inert on the forward cottonseeds oilcake market on Monday in the process of trading, dealers said. The July contract closed at Rs 1851.80 and it opened with 20 paisa rise at Rs 1852.00 in the early
Mills and spinners were on the sideline on the cotton market on Monday as ginners were not ready to oblige them, dealers said. The official spot rate held the overnight level at Rs 6,800, they added. In the ready session, not a single deal was reported, d
Soyabean bids were steady to sharply lower at US Midwest processors and elevators on Monday, pressured by limited crusher demand and adequate supplies of the animal feed soyameal, dealers said. The soya basis was as much as 15 cents per bushel lower at an
Iran has bought around 55,000 tonnes of wheat from Russia, European traders said on Monday. The wheat was for shipment from the Russian port of Novorossiisk and was purchased by state grains buyer GTC, traders said. "Iran continued to buy right through th
Small business was seen on the wholesale grain market on Monday due to lack of interest among buyers, dealers said. On the cereals side, Moong Punjab was higher by Rs 100 to Rs 12000, Moong Peshawar maintained week-end levels, Gur low type was unchanged a
Chicago wheat rose more than 1 percent on Monday in a second day of gain on bargain buying after falling for the last five weeks, while soybeans recovered from last week's 2-1/2-month low, underpinned by tight old-crop supplies in the United States. Corn
On Monday at Pakistan Mercantile Exchange (PMEX) value traded was recorded at PKR 2,924 million. Number of lots traded was reported at 11,042 and PMEX Commodity Index closed at 3,030. Major business was contributed by crude oil amounting to PKR 1,617 mill
Spot cash basis bids for hard red winter wheat were steady to 15 cents firmer in the US Plains on Monday as harvest progress was expected to pick up this week. The basis at two Kansas locations rose 10-15 cents a bushel. Rains over the weekend in the top
ICE Canadian canola futures slipped on Monday along with soybean oil after posting a big gain to end the previous week. Canola is likely to trade sideways in the near term, as the new crop has ample moisture but commercial supplies are thin on limited far
Abundant rains combined with infrequent and short spells of sunshine in most of Ivory Coast's main cocoa-growing regions created wet growing conditions last week that could dent the size of the April-to-September crop, farmers said on Monday. The marketin
The Karachi Port handled 128,735 tonnes of cargo comprising 82,791 tonnes of import cargo and 45,944 tonnes of export cargo including 28 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargo of 82,791
Australia's unemployment rate is likely to remain relatively high well into 2015, a top central banker said on Monday, helping keep a lid on wages and inflation. Reserve Bank of Australia (RBA) Assistant Governor Christopher Kent said sluggish wages and r
When Bahrain announced plans last December to cut fuel subsidies, it was a rare step towards economic reform in a region where lavish cradle-to-grave welfare systems are the norm. The National Oil and Gas Authority said it would gradually raise the domest
Bank of America Corp has become the first big bank to agree to use a New York regulator's database to ensure it does not process illegal payments from payday lenders to state residents, Governor Andrew Cuomo said on Monday. New York outlaws payday lending
Siemens and Mitsubishi Heavy Industries unveiled Monday the terms of their joint bid for the energy assets of French industrial jewel Alstom, also coveted by General Electric in the US. Siemens said in a statement that it "intends to acquire 100 percent o
Foreigners sold US long-term securities, including Treasuries and corporate bonds, in April versus buying in March, data from the US Treasury showed on Monday. The net sales of long-term US assets notched $24.2 billion in April following a net inflow of $
Foreigners sold US long-term securities, including Treasuries and corporate bonds, in April versus buying in March, data from the US Treasury showed on Monday. The net sales of long-term US assets notched $24.2 billion in April following a net inflow of $
The International Monetary Fund on Monday slashed its forecast for the United States and urged policymakers to keep interest rates low and raise the minimum wage to strengthen growth. The global crisis lender said in its annual report card on the US econo
The International Monetary Fund on Monday slashed its forecast for the United States and urged policymakers to keep interest rates low and raise the minimum wage to strengthen growth. The global crisis lender said in its annual report card on the US econo
Denmark has escaped a feared EU ban on its much-loved cinnamon rolls by reclassifying them as a "traditional" food. The hugely popular pastries have been threatened with an EU ban since regulators discovered in November that they typically exceed the EU l
China is confident it will hit its growth target of 7.5 percent this year, Chinese Premier Li Keqiang said on Monday, adding the government was ready to adjust policy to make sure it does. Writing in Britain's The Times newspaper on the eve of his visit t
India's inflation accelerated to a five-month high in May, in a worrying sign for Prime Minister Narendra Modi's new government which has made fighting price rises a priority. The Wholesale Price Index, the most closely watched cost of living monitor, ros
A summit of G77 leaders plus China wrapped up Sunday with a call for an end to poverty by 2030, after a demand by Bolivia's President Evo Morales to eliminate the UN Security Council. The accord, largely ironed out in advance in New York by the 133 member
New cotton season 2014-15 started in Pakistan with some 4,000 maund phutti reaching ginning factories of Punjab. According to ginners, phutti (equal to 300 bales) arrived at two ginning factories of Haroonabad, Punjab. Ginners are expecting that two facto
Election tribunals set up by the Election Commission of Pakistan (ECP) have failed to redress post-election disputes within the legally-stipulated deadline, as 27 percent (109 out of 410) petitions are yet to be decided a year after the general elections
Pakistan Telecommunication Company Limited (PTCL) held its day-long annual sales conference 2014 at a local hotel here in Islamabad. Comprising of various interactive and creative sessions, the conference gave an opportunity to the participants for knowle
The Federal Tax Ombudsman (FTO) ruled that the Commissioner Inland Revenue has committed error by selecting himself a case for audit and not by Federal Board of Revenue (FBR), as his selection contradicts findings of Lahore High Court (LHC) judgement and
The Supreme Court on Monday directed the Federal Investigation Agency (FIA) to submit a fresh detailed report regarding steps taken to arrest accused Ahmed Faiz in Hajj corruption case and adjourned the hearing of the case till June 18 (Wednesday). The tw
Incorporated as a public limited company is 1934, Atlas Insurance Limited is listed on Karachi and Lahore stock exchanges. The company was taken over by the Atlas Group in 1980 and has reinsurance arrangements with leading re-insurers of the world includ
Incorporated as a public limited company is 1934, Atlas Insurance Limited is listed on Karachi and Lahore stock exchanges. The company was taken over by the Atlas Group in 1980 and has reinsurance arrangements with leading re-insurers of the world includ
Pakistan People's Party (PPP) Co-Chairman and former President Asif Ali Zardari has welcomed the speech of Prime Minister Nawaz Sharif in the National Assembly, extending PPP's full support to the government in carrying out the operation against the milit
The opposition political parties in Senate on Monday endorsed the government decision of launching a military operation 'Zarb-E-Azb' against the militants besides demanding similar crackdown on all militant outfits in the rest of the country especially in
The Pakistan Muslim League-Q has announced its support to the armed forces and said the entire nation was standing behind the military waging a war against terrorists in tribal areas and praying for its success. In a press statement issued here on Monday,
Hailing the government's decision of deploying army in Islamabad and some sensitive areas of Karachi, President of Karachi Chamber of Commerce and Industry (KCCI) and representatives of different trade bodies on Monday called upon the government to deploy
US computer storage company SanDisk said Monday it was buying flash memory firm Fusion-io for $1.6 billion. The deal will help SanDisk, a maker of memory cards used for computers, smartphones and other devices, to boost its flash memory capacity with the
Investors dumped Argentine debt on Monday after the US Supreme Court on Monday declined to hear the South American nation's appeal to overturn a lower court decision ordering that it pay holdout sovereign creditors $1.33 billion. Argentina has said it wou
US manufacturing output rose in May and factory activity in New York state accelerated sharply this month, buoying hopes of a strong rebound in economic growth this quarter. The brightening growth outlook was further boosted by news on Monday that confide
Most markets in the Gulf continued to decline on Monday because of the conflict in Iraq, while volatile Dubai led losses as construction firm Arabtec remained in freefall. Another city in northern Iraq, Tal Afar, fell on Sunday to insurgents from the Isla
Canada's main stock index advanced to its highest in almost six years on Monday after violence in Iraq pushed up the price of oil, driving gains in the heavyweight energy sector. Investors followed news of Sunni insurgents seizing a mainly ethnic Turkmen
Hong Kong shares ended flat Monday as a positive lead from Wall Street was offset by fears about the growing crisis in Iraq. The benchmark Hang Seng Index dipped 18.50 points to 23,300.67 on turnover of HK$47.83 billion (US $6.17 billion). With few cataly
US stocks edged higher on Monday afternoon, reversing a midday dip, supported by a flurry of merger news, but the advance was limited as investors kept a close watch on rising oil prices caused by turmoil in Iraq. Seven out of the 10 S&P sector indexes ro
Sri Lankan shares rose for the second straight session on Tuesday to a one-year closing high, led by gains in banking stocks on hopes of a further 50 basis points rate cut in this week's central bank policy rates announcement, stockbrokers said. The main
Thai shares touched near eight-month highs on Monday as strong crude prices boosted stocks of energy explorer PTT Exploration and Production , while Indonesian shares fell to their lowest in one week due to foreign-led selling in large caps. Bangkok's SET
Tokyo shares slipped 1.09 percent Monday as the yen strengthened on worries over the escalating crisis in Iraq. The benchmark Nikkei 225 index lost 164.55 points to finish at 14,933.29, while the Topix index of all first-section shares fell 0.75 percent,
Indian shares fell for a second straight session on Monday to their lowest close in 1-1/2 weeks on risk aversion among investors due to tensions in Iraq and Ukraine, with domestic-oriented stocks such as Larsen & Toubro Ltd taking a hit. Brent crude rose
European stocks edged lower on Monday, adding to last week's retreat, as mounting violence from Iraq to Kenya weighed on travel shares and prompted investors to cash in on recent outperformers. Airline easyJet and cruise operators Carnival both fell more
Taiwan stocks were trading flat on Monday morning after the six-year closing highs seen recently, but memory chip makers were the bright spots amid investor optimism of improving prospects. The main TAIEX index edged down 0.09 percent at 9,188.56 as of 02
Australian shares added 0.1 percent on Monday, nudging away from 3-1/2 week lows as the mining sector reversed earlier losses to edge higher, although investors were still cautious as the unrest in Iraq continued. The S&P/ASX 200 index added 7.3 percent t
Britain's top share index slipped on Monday as concerns about a large increase in its pension deficit hit BT Group, while housebuilders extended their recent sell-off on prospects of a UK rate hike. BT fell 2.4 percent, one of the biggest drags on the FTS