AIRLINK 159.45 Increased By ▲ 4.49 (2.9%)
BOP 10.06 Increased By ▲ 0.15 (1.51%)
CNERGY 7.85 Increased By ▲ 0.48 (6.51%)
CPHL 83.56 Increased By ▲ 0.65 (0.78%)
FCCL 48.54 Increased By ▲ 0.68 (1.42%)
FFL 15.07 Increased By ▲ 0.39 (2.66%)
FLYNG 49.46 Increased By ▲ 4.50 (10.01%)
HUBC 141.41 Increased By ▲ 3.44 (2.49%)
HUMNL 12.74 Decreased By ▼ -0.13 (-1.01%)
KEL 4.45 Increased By ▲ 0.16 (3.73%)
KOSM 5.34 Increased By ▲ 0.18 (3.49%)
MLCF 76.36 Increased By ▲ 1.05 (1.39%)
OGDC 213.73 Increased By ▲ 1.06 (0.5%)
PACE 5.33 Increased By ▲ 0.18 (3.5%)
PAEL 46.96 Increased By ▲ 0.83 (1.8%)
PIAHCLA 17.24 Increased By ▲ 0.96 (5.9%)
PIBTL 8.85 Increased By ▲ 0.28 (3.27%)
POWER 15.09 Decreased By ▼ -0.09 (-0.59%)
PPL 173.25 Increased By ▲ 3.34 (1.97%)
PRL 33.82 Increased By ▲ 2.68 (8.61%)
PTC 22.06 Increased By ▲ 2.01 (10.02%)
SEARL 84.13 Increased By ▲ 0.36 (0.43%)
SSGC 36.98 Increased By ▲ 0.91 (2.52%)
SYM 15.51 Increased By ▲ 0.61 (4.09%)
TELE 7.56 Increased By ▲ 0.35 (4.85%)
TPLP 8.56 Increased By ▲ 0.14 (1.66%)
TRG 65.19 Decreased By ▼ -1.01 (-1.53%)
WAVESAPP 9.25 Increased By ▲ 0.30 (3.35%)
WTL 1.28 Increased By ▲ 0.03 (2.4%)
YOUW 3.68 Increased By ▲ 0.08 (2.22%)
AIRLINK 159.45 Increased By ▲ 4.49 (2.9%)
BOP 10.06 Increased By ▲ 0.15 (1.51%)
CNERGY 7.85 Increased By ▲ 0.48 (6.51%)
CPHL 83.56 Increased By ▲ 0.65 (0.78%)
FCCL 48.54 Increased By ▲ 0.68 (1.42%)
FFL 15.07 Increased By ▲ 0.39 (2.66%)
FLYNG 49.46 Increased By ▲ 4.50 (10.01%)
HUBC 141.41 Increased By ▲ 3.44 (2.49%)
HUMNL 12.74 Decreased By ▼ -0.13 (-1.01%)
KEL 4.45 Increased By ▲ 0.16 (3.73%)
KOSM 5.34 Increased By ▲ 0.18 (3.49%)
MLCF 76.36 Increased By ▲ 1.05 (1.39%)
OGDC 213.73 Increased By ▲ 1.06 (0.5%)
PACE 5.33 Increased By ▲ 0.18 (3.5%)
PAEL 46.96 Increased By ▲ 0.83 (1.8%)
PIAHCLA 17.24 Increased By ▲ 0.96 (5.9%)
PIBTL 8.85 Increased By ▲ 0.28 (3.27%)
POWER 15.09 Decreased By ▼ -0.09 (-0.59%)
PPL 173.25 Increased By ▲ 3.34 (1.97%)
PRL 33.82 Increased By ▲ 2.68 (8.61%)
PTC 22.06 Increased By ▲ 2.01 (10.02%)
SEARL 84.13 Increased By ▲ 0.36 (0.43%)
SSGC 36.98 Increased By ▲ 0.91 (2.52%)
SYM 15.51 Increased By ▲ 0.61 (4.09%)
TELE 7.56 Increased By ▲ 0.35 (4.85%)
TPLP 8.56 Increased By ▲ 0.14 (1.66%)
TRG 65.19 Decreased By ▼ -1.01 (-1.53%)
WAVESAPP 9.25 Increased By ▲ 0.30 (3.35%)
WTL 1.28 Increased By ▲ 0.03 (2.4%)
YOUW 3.68 Increased By ▲ 0.08 (2.22%)
BR100 12,888 Increased By 217.2 (1.71%)
BR30 38,116 Increased By 748.7 (2%)
KSE100 119,962 Increased By 1425.4 (1.2%)
KSE30 36,773 Increased By 479.3 (1.32%)
May 15, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-07-02
Twitter replaces chief financial officer

Twitter replaces chief financial officer

Twitter replaced its chief financial officer Tuesday with a former Goldman Sachs banker as the popular one-to-many messaging service reshuffled amid concerns about its ability to grow and prosper. Anthony Noto, 46, will replace Mike Gupta, who will become
Published 02 Jul, 2014 12:00am
CIMA, IBA Karachi sign MoU

CIMA, IBA Karachi sign MoU

Chartered Institute of Management Accountants (CIMA) Pakistan office and IBA Karachi entered into a memorandum of understanding to combine resources and expertise to prepare students for a challenging career as qualified professional accountants.
Published 02 Jul, 2014 12:00am
KMC sets up 12 anti-encroachment camps

KMC sets up 12 anti-encroachment camps

In a bid to take prompt action against possible establishment of encroachments in the holy month Ramadan, Karachi Metropolitan Corporation (KMC) has set-up 12 camps to take timely action against encroachments and professional beggars. The camps have been
Published 02 Jul, 2014 12:00am
Shahzeb murder case: SHC asks trial court to probe compromise deal

Shahzeb murder case: SHC asks trial court to probe compromise deal

The Sindh High Court (SHC) on Tuesday directed an Anti-terrorism Court (ATC) to verify whether the compromise plea of parents and two sisters of Shahzeb Khan seeking acquittal of all four convicts in the Shahzeb murder case was genuine. A division bench h
Published 02 Jul, 2014 12:00am
Karachi police to be equipped with 100 bullet-proof vehicles

Karachi police to be equipped with 100 bullet-proof vehicles

Sindh government on Tuesday decided to equip Karachi police with a hundred bullet proof vehicles in order to make the targeted operation more effective. As per the decision, one hundred bullet proof vehicles will be provided to the police next month. Sour
Published 02 Jul, 2014 12:00am
July-May 2013-14: readymade garment exports witness 8 percent increase

July-May 2013-14: readymade garment exports witness 8 percent increase

Despite attaining a much-desired GSP plus status, the country could earn just $1.768 billion in July-May period of fiscal year 2013-14 through the export of readymade garments, exporters said on Tuesday. The country's total export of readymade garments du
Published 02 Jul, 2014 12:00am
HBL declares interim dividend for six funds

HBL declares interim dividend for six funds

The Board of Directors of HBL Asset Management Limited in its meeting held on June 27, 2014 declared interim dividends for six funds under management. HBL Money Market Fund: The Fund has declared interim dividend/bonus at Rs 0.60 per unit. Prior to this a
Published 02 Jul, 2014 12:00am
HBL declares interim dividend for six funds

HBL declares interim dividend for six funds

The Board of Directors of HBL Asset Management Limited in its meeting held on June 27, 2014 declared interim dividends for six funds under management. HBL Money Market Fund: The Fund has declared interim dividend/bonus at Rs 0.60 per unit. Prior to this a
Published 02 Jul, 2014 12:00am
P@SHA releases IT salary survey for 2014

P@SHA releases IT salary survey for 2014

The Pakistan Software Houses Association for IT and ITES (P@SHA) has released its 2014 IT Salary Survey report on Tuesday. The survey provides analysis of the average salaries, growth, promotions and benefits for the IT & IT Enabled Services sector employ
Published 02 Jul, 2014 12:00am
Missing persons' case: SHC asks LEAs to submit reports

Missing persons' case: SHC asks LEAs to submit reports

The Sindh High Court (SHC) on Tuesday directed the director general of Sindh Rangers and officials of other law-enforcement agencies (LEAs) to submit their reports in two separate petitions of missing men allegedly detained by the paramilitary force. Just
Published 02 Jul, 2014 12:00am
ICAP successfully completes 53 years of its existence

ICAP successfully completes 53 years of its existence

The Institute of Chartered Accountants of Pakistan (ICAP), renowned as the torchbearer of the accounting and auditing profession in Pakistan, has successfully completed 53 years of its existence and is jubilant to enter the 54th year of its life. CAs from
Published 02 Jul, 2014 12:00am
Names for CEC's post to be sent to Prime Minister: Khursheed

Names for CEC's post to be sent to Prime Minister: Khursheed

Leader of Opposition in the National Assembly Syed Khursheed Shah said that the names for Chief Election Commissioner (CEC) would be forwarded to Prime Minister Nawaz Shairf within a week after consultations with opposition parties. While talking to media
Published 02 Jul, 2014 12:00am
Fitrana fixed at Rs 100 per head

Fitrana fixed at Rs 100 per head

The minimum amount of Sadqa-e-fitr or Fitrana has been fixed at Rs 100 per head this year, which is paid to the poor and the needy before Eidul Fitr, said Central Ruet-e-Hilal Committee Chairman, Mufti Muneebur Rehman. Mufti Muneebur Rahman said that acco
Published 02 Jul, 2014 12:00am
PTCL bills payment till July 5

PTCL bills payment till July 5

The Pakistan Telecommunication Company Limited (PTCL) has announced that the last date for payment of the current month's telephone bills is July 5. The company said in a statement that subscribers can pay their bills at all the designated locations as we
Published 02 Jul, 2014 12:00am
Karachi mass transit project: KMC decides to initiate work on PPP basis

Karachi mass transit project: KMC decides to initiate work on PPP basis

Karachi Metropolitan Corporation (KMC) on Tuesday decided to initiate uplift work on mass transit project in city on public private partnership (PPP) basis. During a meeting of the committee set up by Sindh Government for mass transit project, it was info
Published 02 Jul, 2014 12:00am
Political parties urged to join hands to spur economy

Political parties urged to join hands to spur economy

Business community has urged all political parties of the country to end their petty differences and join hands for the national agenda of economic revival and growth, as political unrest and crisis is negatively impacting on economic growth of the countr
Published 02 Jul, 2014 12:00am
Energy loadshedding: textile industry irked by absence of minister

Energy loadshedding: textile industry irked by absence of minister

Textile industry circles have raised eyebrows over the absence of Minister of Textile Industry Abbas Khan Afridi from the scene when the Punjab-based textile industry is going through the mill on account of energy shortage. Talking to the Business Reco
Published 02 Jul, 2014 12:00am
One killed in Rakhni clash

One killed in Rakhni clash

One person was killed and two other sustained injuries in a clash between two groups over land dispute in Rakhni area of Loralai district. Levies force said on Tuesday that two sub-clans took position and used automatic weapons against each other after du
Published 02 Jul, 2014 12:00am
GSP Plus: PIAF chief lauds efforts of LCCI trade mission

GSP Plus: PIAF chief lauds efforts of LCCI trade mission

Pakistan Industrial and Traders Associations Front (PIAF) Chairman, Malik Tahir Javaid on Tuesday while lauding the efforts of LCCI Trade Mission to France, Germany, Belgium and Bosnia said it a step in right direction to avail the benefit of GSP Plus sta
Published 02 Jul, 2014 12:00am
Pakistan, India exchange prisoners' lists

Pakistan, India exchange prisoners' lists

Pakistan and India on Tuesday exchanged the lists of the prisoners in each others' jails under the Agreement on Consular Access signed between the two countries on May 2, 2008. Consistent with the provisions of this Agreement, the Ministry of Foreign Affa
Published 02 Jul, 2014 12:00am
Two suspects held for Khyber Agency blast

Two suspects held for Khyber Agency blast

Unknown miscreants blasted entrances of a residence of a tribal leader with explosives here in the wee hours of Tuesday. Two suspects were taken into custody during search operation. Political administration said that unidentified militants had planted ex
Published 02 Jul, 2014 12:00am
Argentinean envoy calls on KP Governor

Argentinean envoy calls on KP Governor

The Ambassador of Argentina in Pakistan, Rodolfo Martian Saravia called on the Khyber Pakhtunkhwa Governor, Sardar Mahtab Ahmad Khan at Governor House, Peshawar on Tuesday. The distinguished guest remained with the Governor for some time and discussed mat
Published 02 Jul, 2014 12:00am
Sindh government plans to deal with rain-related emergencies

Sindh government plans to deal with rain-related emergencies

The Sindh government has prepared a provincial disaster management plan to deal with rain and flood emergency and other calamities in the province, Business Recorder learnt on Tuesday. Sources said that plan has been made by the senior officials of
Published 02 Jul, 2014 12:00am
MCB, Telenor Pakistan sign agreement

MCB, Telenor Pakistan sign agreement

MCB Bank has signed an agreement with Telenor Pakistan for mobile communication needs of its employees at a ceremony held here on Tuesday, in the presence of senior management from both the organisations. As per agreement, Telenor Pakistan will be providi
Published 02 Jul, 2014 12:00am
Ufone back again with Ramazan offer

Ufone back again with Ramazan offer

Amir Pasha, Head of PR and CSR at Ufone said on Tuesday that Pakistan's favourite cellular service, Ufone, is back yet again with its popular Ramazan offer, whereby Ufone customers will be able to make unlimited calls between Sahar and Iftaar to all Ufone
Published 02 Jul, 2014 12:00am
Clashes in Helmand: FO rejects Afghanistan's allegations

Clashes in Helmand: FO rejects Afghanistan's allegations

Pakistan on Tuesday rejected the allegation by Afghan National Security Adviser Dr Rangin Spanta of its forces "direct link" with the deadliest clashes in Helmand province of Afghanistan. "We have seen with deep dismay the allegations by certain Afghan of
Published 02 Jul, 2014 12:00am
SUTA delegation meets SU vice chancellor

SUTA delegation meets SU vice chancellor

Sindh University Vice-Chancellor Professor Dr Abida Taherani has said that the foremost function of faculty members is only to teach and conduct research, therefore they should pay attention towards teaching. She said that the vacancies of faculty will be
Published 02 Jul, 2014 12:00am
Unfair means: Candidates to be heard on July 3

Unfair means: Candidates to be heard on July 3

The Board of Intermediate & Secondary Education, Hyderabad has notified that the candidates who were found involved in the unfair means / copying cases during the HSC Part-II (Class-XII) Annual Examination 2014 (Humanities, Commerce and Home Economics Gro
Published 02 Jul, 2014 12:00am
Rs 3.21 billion released after Ombudsman's intervention

Rs 3.21 billion released after Ombudsman's intervention

District Accounts Office (DAO), Dera Ghazi Khan, released payments of worth Rs 3.21 billion on the last day of financial year after intervention of the Punjab Ombudsman. These funds were illegally stopped by the former Accountant General of Punjab. DAO, D
Published 02 Jul, 2014 12:00am
Chief of Air Staff meets Nawaz

Chief of Air Staff meets Nawaz

Air Chief Marshal Tahir Rafique Butt, Chief of Air Staff called on the Prime Minister Muhammad Nawaz Sharif on Tuesday at PM House. Air chief exchanged professional views with the Prime Minister. Prime Minister commended the role played by Pakistan Air fo
Published 02 Jul, 2014 12:00am
DHR to challenge 'black' law

DHR to challenge 'black' law

Chairperson of Defence of Human Rights (DHR) organisation Amna Masood Janjua has termed the Protection of Pakistan Bill a black law and announced to challenge it in the Supreme Court. Addressing a press conference at the National Press Club here on Tuesda
Published 02 Jul, 2014 12:00am
Ziarat judicial magistrate kidnapped

Ziarat judicial magistrate kidnapped

The district management Ziarat confirmed on Tuesday that Judicial Magistrate Ziarat was kidnapped by unknown armed kidnappers on Monday. Deputy Commissioner Ziarat, Yasir Khan said that they were making hectic efforts to trace out the whereabouts of the a
Published 02 Jul, 2014 12:00am
Soya meal, oil cake: 5 percent ST applicable from June 26, 2014

Soya meal, oil cake: 5 percent ST applicable from June 26, 2014

Finance Act 2014 has imposed reduced rate of 5 percent sales tax on soyabean meal, oil cake and other solid residues as well as plant/machinery not manufactured locally and having no compatible local substitutes from June 26, 2014. According to the Financ
Published 02 Jul, 2014 12:00am
Election tribunals: PTI hits out at ECP for extending terms

Election tribunals: PTI hits out at ECP for extending terms

The Pakistan Tehreek-e-Insaf (PTI) on Tuesday severely criticised the Election Commission of Pakistan (ECP) for extending the terms of election tribunals for another six months after they miserably failed to accomplish the gigantic task of addressing the
Published 02 Jul, 2014 12:00am
Man shot dead

Man shot dead

A man was killed here on Tuesday. According to police and rescue sources, Adnan, son of Mehmood, was shot dead by unidentified people near the Abdullah College, located in Banaras Colony. The body was shifted to the Abbasi Shaheed Hospital for medico-lega
Published 02 Jul, 2014 12:00am
Punjab Chief Secretary visits Ramazan Bazaar

Punjab Chief Secretary visits Ramazan Bazaar

Punjab Chief Secretary Naveed Akram Cheema visited Gulshan-e-Ravi Ramazan Bazaar to inspect arrangement carried out by City District Government Lahore on Tuesday. Commissioner Lahore Division Rashid Mehmood, DCO Lahore Cap. Muhammad Usman (Retd), ADC Irfa
Published 02 Jul, 2014 12:00am
SHC dismisses contempt plea against Prime Minister

SHC dismisses contempt plea against Prime Minister

Sindh High Court (SHC) on Tuesday dismissed a contempt application calling for initiation of contempt proceedings against Prime Minister Nawaz Sharif. Justice Ahmed Ali M Sheikh, who headed a single bench of SHC, announced his verdict on an application of
Published 02 Jul, 2014 12:00am
New Secretary National Assembly assumes charge

New Secretary National Assembly assumes charge

Muhammad Riaz an officer of Custom Group has assumed the charge of Secretary National Assembly w.e.f July 1, 2014. He has become the Secretary National Assembly after the retirement of Karamat Hussain Niazi, former Secretary National Assembly on 30th June
Published 02 Jul, 2014 12:00am
JI chief for increasing financial aid to IDPs

JI chief for increasing financial aid to IDPs

Amir Jamaat-i-Islami (JI) Sirajul Haq while urging the federal government to increase financial assistance for Internally Displaced Persons (IDPs) to Rs 50,000 per family during the month of Ramazan from current Rs 40,000. He has warned that anti-Pakistan
Published 02 Jul, 2014 12:00am
PkMAP demands increase in relief package

PkMAP demands increase in relief package

Leaders of Pakhtuns Mili Awami Party (PkMAP) urged the Federal and provincial governments to increase into the announced relief package for internally displaced people from North Waziristan Agency and demanding to set-up additional registration and food d
Published 02 Jul, 2014 12:00am
Cigarettes SRO on increase in FED rescinded

Cigarettes SRO on increase in FED rescinded

The Federal Board of Revenue (FBR) has rescinded a budgetary Statutory Regulatory Order (SRO) related to the increase in the federal excise duty (FED) on cigarettes, as new FED rates has been made part of the Federal Excise Act through Finance Act, 2014 a
Published 02 Jul, 2014 12:00am
KP government urged to allow NGOs to lend a hand

KP government urged to allow NGOs to lend a hand

Tribal NGOs consortium has urged the KP government to allow local and international NGOs and donor agencies to extend assistance to IDPs in general and children of the displaced persons in particular. According to a report prepared by the NGOs, the total
Published 02 Jul, 2014 12:00am
Exemption granted

Exemption granted

An Additional District and Sessions Judge in Islamabad on Tuesday granted exemption to former president General Pervez Musharraf (Retd) from making appearance in the Abdul Rasheed Ghazi murder case and summoned him on July 23.
Published 02 Jul, 2014 12:00am
CPI inflation for June up 8.22 percent

CPI inflation for June up 8.22 percent

The Consumer Price Index (CPI) inflation increased by 8.22 percent during June 2014, as compared to the same period of last year, Pakistan Bureau of Statistics (PBS) revealed. Chief Statistician, PBS, Asif Bajwa addressing a press conference on Tuesday sa
Published 02 Jul, 2014 12:00am
PEDO decides to construct 356 micro hydel stations

PEDO decides to construct 356 micro hydel stations

The Board of Directors of Pakhtunkhwa Energy Development Organisation (PEDO) during its second meeting on Tuesday decided to construct 356 micro hydel stations having power generation capacity of 35MW through NGOs in various parts of the province to be ut
Published 02 Jul, 2014 12:00am
Import of CNG cylinders & kits: ECC may mull removing ban

Import of CNG cylinders & kits: ECC may mull removing ban

A meeting of the Economic Co-ordination Committee (ECC) of the Cabinet scheduled for Saturday is likely to consider a Petroleum Ministry proposal on the removal of ban on import of CNG cylinders and conversion kit, it was learnt. The Ministry of Petroleum
Published 02 Jul, 2014 12:00am
JCR-VIS reaffirms A/A-1 rating of BoK

JCR-VIS reaffirms A/A-1 rating of BoK

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the entity ratings of Bank of Khyber (BoK) at 'A/A-1' (Single A/A One) with 'Stable' outlook. The ratings take into account more than two third holding of a sub-sovereign-government of Khyber
Published 02 Jul, 2014 12:00am
JCR-VIS reaffirms A/A-1 rating of BoK

JCR-VIS reaffirms A/A-1 rating of BoK

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the entity ratings of Bank of Khyber (BoK) at 'A/A-1' (Single A/A One) with 'Stable' outlook. The ratings take into account more than two third holding of a sub-sovereign-government of Khyber
Published 02 Jul, 2014 12:00am
Oil dips on easing supply concerns

Oil dips on easing supply concerns

Crude oil prices dipped slightly on Tuesday on easing concerns of supply disruptions due to the conflicts in Iraq and Ukraine, whilst gaining some support from upbeat manufacturing data in China, the world's second-biggest oil consumer. "The market has be
Published 02 Jul, 2014 12:00am
Cotton sinks to late 2012 lows

Cotton sinks to late 2012 lows

Cotton futures fell for a second straight session on Tuesday, dropping to November 2012 lows after a US government plantings report raised expectations that domestic supplies will be higher than previously forecast. The most-active December cotton contrac
Published 02 Jul, 2014 12:00am
US MIDDAY: platinum at 10-month high

US MIDDAY: platinum at 10-month high

Platinum rose to a 10-month high above $1,500 an ounce early on Tuesday, extending its rally to a fourth consecutive session, boosted by long-term supply worries, despite the end of South Africa's mining strike. Gold reversed gains as investors took profi
Published 02 Jul, 2014 12:00am
US MIDDAY: grains extend losses

US MIDDAY: grains extend losses

US grain futures extended losses on Tuesday, with corn hitting a near six-month low a day after the US Department of Agriculture surpassed market expectations with projections for ample supplies. At the Chicago Board of Trade as of 11:42 am CDT (1642 GMT)
Published 02 Jul, 2014 12:00am
Gold rises, platinum at strongest since September

Gold rises, platinum at strongest since September

Gold hit its highest since late March on Tuesday as bets that record-low interest rates will persist buoyed stocks and on fresh signs of interest from investors in futures and bullion-backed funds. Platinum prices hit ten-month highs. Spot gold hit a thre
Published 02 Jul, 2014 12:00am
Gold climbs in Asia

Gold climbs in Asia

Gold climbed to a three-month high on Tuesday as a softer dollar and escalating violence in Iraq increased the metal's appeal, boosting inflows into the top bullion-backed fund. Spot gold climbed to $1,332.10 an ounce, its highest since March 24, and was
Published 02 Jul, 2014 12:00am
Gold up in New York

Gold up in New York

Gold rose on Monday as the dollar fell, with bullion on track for its second consecutive quarterly gain as heightened geopolitical tensions boosted its safe-haven appeal. For the quarter, gold is on track to rise about 2.5 percent after a nearly seven per
Published 02 Jul, 2014 12:00am
Sugar eases, cocoa dips

Sugar eases, cocoa dips

ICE raw sugar futures eased on Tuesday as the small delivery against the July contract expiry signalled weak near-term demand for the sweetener, while cocoa fell from the prior session's near-three-year high. Arabica coffee on ICE Futures US edged lower w
Published 02 Jul, 2014 12:00am
Palm oil down

Palm oil down

Malaysian palm oil futures slid to a near three-week low on Tuesday, stretching its losing streak into a fourth session following heavy losses in overseas soyoil markets, and as investors fretted about rising stocks of the tropical oil. Soybean prices fel
Published 02 Jul, 2014 12:00am
Corn, wheat and soya tumble

Corn, wheat and soya tumble

US grain and soyabean futures tumbled on Monday after the Agriculture Department reported higher-than-expected figures for US soya plantings and June 1 corn and soya stocks. The government reported 2014 soyabean seedings at a record-high 84.8 million acre
Published 02 Jul, 2014 12:00am
Tokyo rubber up

Tokyo rubber up

Tokyo rubber futures ended higher on Tuesday on firm oil prices and upbeat manufacturing data from China, but the upside was still capped amid thin trading, dealers said. The Tokyo Commodity Exchange rubber contract for December delivery rose 0.4 yen to f
Published 02 Jul, 2014 12:00am
Zinc retreats from 16-1/2-month high, tin bounces

Zinc retreats from 16-1/2-month high, tin bounces

Zinc retreated from 16-1/2 month highs on Tuesday as investors liquidated long positions after healthy gains and producers sold material at attractive prices. Tin prices bounced after Indonesia's biggest miner said it halted exports for two weeks due to l
Published 02 Jul, 2014 12:00am
Shanghai copper soars

Shanghai copper soars

The most-traded September copper contract on the Shanghai Futures Exchange rallied 1.7 percent to 50,380 yuan ($8,100) a tonne on Tuesday, having earlier hit a five-month top. Manufacturing activity in Asia's industrial powerhouses China and Japan gained
Published 02 Jul, 2014 12:00am
USDA pegs 2014 US cotton plantings up nine percent from prior year

USDA pegs 2014 US cotton plantings up nine percent from prior year

The US government on Monday pegged 2014 US cotton plantings at 11.37 million acres (4.6 million hectares), up 9 percent from the prior year, pressuring benchmark cotton futures to December 2012 lows on expectations of higher supplies in the world's top ex
Published 02 Jul, 2014 12:00am
Europe rights court upholds French burqa ban

Europe rights court upholds French burqa ban

The European Court of Human Rights on Tuesday upheld France's controversial burqa ban, rejecting arguments that outlawing full-face veils breaches religious freedom. In a case brought by a 24-year-old French woman with the support of a British legal team,
Published 02 Jul, 2014 12:00am
Eurozone unemployment falls

Eurozone unemployment falls

Unemployment in the eurozone continued to fall in May, but at a slower pace, raising fears that a fragile economic recovery in the single currency bloc could be stalling. The eurozone jobless rate stood at 11.6 percent in May, the Eurostat statistics agen
Published 02 Jul, 2014 12:00am
European shares start month with aplomb; BNP Paribas buoyant

European shares start month with aplomb; BNP Paribas buoyant

European shares began the month with a gain, as BNP Paribas rose on relief it had settled a US sanctions case and mining companies rallied after encouraging economic data came out of China, the world's top metals consumer. The pan-European FTSEurofirst 30
Published 02 Jul, 2014 12:00am
India's NSE index marks highest close in three weeks

India's NSE index marks highest close in three weeks

India's NSE index rose on Tuesday to mark its highest close in nearly three weeks, approaching a record high hit last month, as auto makers such as Maruti Suzuki India surged after stronger monthly sales, while overseas buying also helped. Foreign institu
Published 02 Jul, 2014 12:00am
Tokyo stocks rise

Tokyo stocks rise

Tokyo stocks closed 1.08 percent higher on Tuesday, helped by a weaker yen and a central bank survey that indicated Japanese firms plan a healthy increase in capital spending. The benchmark Nikkei 225 index added 164.10 points to finish at 15,326.20 while
Published 02 Jul, 2014 12:00am
US bond prices rise

US bond prices rise

US Treasuries prices rose modestly on Monday on month-end buying and reluctance to sell ahead of quarter-end and US jobs data on Thursday, putting bond prices on track for gains in the first half of the year. Analysts said traders avoided bets against bon
Published 02 Jul, 2014 12:00am
US bond prices rise

US bond prices rise

US Treasuries prices rose modestly on Monday on month-end buying and reluctance to sell ahead of quarter-end and US jobs data on Thursday, putting bond prices on track for gains in the first half of the year. Analysts said traders avoided bets against bon
Published 02 Jul, 2014 12:00am
Taiwan stocks retreat

Taiwan stocks retreat

Taiwan stocks were little changed as investors took a pause after a more than six-year closing high on Monday though Hon Hai Precision rose for a second day after news the iPhone supplier had bought a stake in South Korean IT services firm SK C&C. About 2
Published 02 Jul, 2014 12:00am
S&P, Nasdaq score sixth straight quarter of gains

S&P, Nasdaq score sixth straight quarter of gains

The S&P 500 and the Nasdaq Composite indexes wrapped up a sixth straight quarter of gains on Monday, a streak not seen in more than 14 years. The three major US stock indexes, however, closed little changed for the day, following a set of mixed economic d
Published 02 Jul, 2014 12:00am
Tuesday's early trade: S&P hits new record high

Tuesday's early trade: S&P hits new record high

The S&P 500 hit a record high on Tuesday after data showing US manufacturing accelerated even if at a slightly slower rate, and as China's factory sector expanded in June for the first time in six months. The pace of growth in the US manufacturing sector
Published 02 Jul, 2014 12:00am
China shares soar

China shares soar

Chinese stocks closed 0.10 percent higher on Tuesday after data indicated that the rate of growth in China's manufacturing activity hit its fastest pace this year in June. The benchmark Shanghai Composite Index edged up 0.10 percent, or 2.05 points, to 2,
Published 02 Jul, 2014 12:00am
UAE, Qatar bourses rebound as valuations become more attractive

UAE, Qatar bourses rebound as valuations become more attractive

Stock markets in the United Arab Emirates and Qatar bounced back on Tuesday after a steep slide over the past month made some valuations attractive again. Fund managers said it was not clear that any extended uptrend in the markets was starting; after the
Published 02 Jul, 2014 12:00am
Manufacturing expands in US, Asia; eurozone still lags

Manufacturing expands in US, Asia; eurozone still lags

Manufacturing activity in the United States and in Asia's industrial powerhouses China and Japan expanded further in June but eurozone growth faltered as main motor Germany slowed. The US manufacturing sector gained more momentum in June, driven by the fa
Published 02 Jul, 2014 12:00am
Miner Newmont moves against Indonesia in ore export row

Miner Newmont moves against Indonesia in ore export row

US mining giant Newmont said Tuesday it has filed for international arbitration against Jakarta over a controversial mineral ore export ban that has forced it to halt production at its Indonesian mine. The company's Indonesian unit said it was seeking a r
Published 02 Jul, 2014 12:00am
Indonesia ekes out trade surplus

Indonesia ekes out trade surplus

Indonesia posted a small trade surplus in May as imports fell more than expected, helping to take some pressure off the fragile rupiah ahead of a presidential vote next week. Southeast Asia's largest economy has been trying to curb strong consumption amid
Published 02 Jul, 2014 12:00am
Jaitley says 'mindless populism' needs to be checked

Jaitley says 'mindless populism' needs to be checked

A high fiscal deficit and inflation are major challenges for India, Finance Minister Arun Jaitley said on Tuesday, adding that "mindless populism" in policymaking needed to be checked. His comments will add to expectations that Jaitley could unveil tough
Published 02 Jul, 2014 12:00am
Brazil posts trade surplus of $2.365 billion in June

Brazil posts trade surplus of $2.365 billion in June

Brazil posted a trade surplus of $2.365 billion in June, the highest result this year, government data showed on Tuesday. Still the hefty surplus was not enough to revert an accumulated trade deficit of $2.490 billion this year. The median forecast of 14
Published 02 Jul, 2014 12:00am
China opens tea, yachts to foreigners in free trade zone

China opens tea, yachts to foreigners in free trade zone

Shanghai has trimmed the list of what is banned in China's first free trade zone, opening a few more areas to foreign participation, it said Tuesday, following disappointment over the new FTZ. The Shanghai government released a new "negative list" of what
Published 02 Jul, 2014 12:00am
BoE reveals Britain warned over eurozone crisis in 2011

BoE reveals Britain warned over eurozone crisis in 2011

The Bank of England revealed on Tuesday that it had warned the British government in late 2011 to prepare for more banking bailouts at the height of the eurozone sovereign debt crisis. The central bank's Financial Policy Committee also urged the Treasury
Published 02 Jul, 2014 12:00am
Taiwan's Foxconn invests in unit of South Korea's SK Group

Taiwan's Foxconn invests in unit of South Korea's SK Group

Taiwan technology giant Foxconn, the world's biggest components maker, said Monday it has invested around $365 million in a South Korean information technology service provider as it looks to diversify its business. The firm, also known by its Taipei-head
Published 02 Jul, 2014 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 93,867 tonnes of cargo comprising 79,549 tonnes of import cargo and 14,318 tonnes of export cargo including 5,969 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargo of 79,5
Published 02 Jul, 2014 12:00am
Oil cake market rates

Oil cake market rates

Both the deliveries were higher on the forward cottonseeds oilcake market on Tuesday in the process of trading, dealers said. The July contract closed at Rs 1849.20 and it opened with 60 paisa rise at Rs 1849.80 in the early session, they said. The July v
Published 02 Jul, 2014 12:00am
Cotton market: seed cotton arrivals still slow

Cotton market: seed cotton arrivals still slow

Main participants were sidelined on the cotton market on Tuesday as phutti arrivals are slow as a result of stuck up in picking operation, dealers said. The official spot rate was down by Rs 300 to Rs 6,300, they added. While, the prices of seed cotton fr
Published 02 Jul, 2014 12:00am
Bangladesh tea prices up

Bangladesh tea prices up

Tea prices in Bangladesh rose at the weekly auction on Tuesday due to strong demand from local buyers amid lower supplies, although poor quality left a huge volume unsold. Bangladeshi tea fetched an average of 183.20 taka ($2.33) per kg at the auction aga
Published 02 Jul, 2014 12:00am
Thin business seen on grain market

Thin business seen on grain market

Thin business was seen on the wholesale grain market on Tuesday in the process of trading, dealers said. On the cereals side, Urad Burma gained Rs 125 to Rs 9625, other items maintained overnight levels, they said. On the seeds side, Til Regugar lost Rs 3
Published 02 Jul, 2014 12:00am
Germany to push for economic reforms in G7

Germany to push for economic reforms in G7

Germany wants to promote structural economic, financial market and tax reform when it takes over the presidency of the G7 club of rich nations next week, German media reported on Sunday. Member states must "join forces to support an even stronger economic
Published 02 Jul, 2014 12:00am
PPG buys Mexico's Comex for $2.3 billion

PPG buys Mexico's Comex for $2.3 billion

US industrial coatings company PPG Monday announced that it was acquiring Mexican coatings maker Comex for $2.3 billion as it seeks to expand in Mexico and Central America. PPG, which produces house paints, as well as coatings that protect components in a
Published 02 Jul, 2014 12:00am
Dutch Philips announces new car lighting, LED company

Dutch Philips announces new car lighting, LED company

Dutch electrical appliance maker Philips on Monday announced it was creating a multi-million euro standalone company by combining its LED and car lighting businesses. Philips chief executive Frans van Houten said the Amsterdam-based group will set up the
Published 02 Jul, 2014 12:00am
AirAsia announces Japan comeback

AirAsia announces Japan comeback

AirAsia's feisty chief executive on Tuesday declared the low-cost airline back in Japan after its bitter split with ANA, but this time in an alliance with e-commerce giant Rakuten. "This is AirAsia Japan part two, and I am very excited. I hope there is no
Published 02 Jul, 2014 12:00am
Sanctions bring Russian economic growth to standstill: IMF

Sanctions bring Russian economic growth to standstill: IMF

Sanctions imposed on Russia over Ukraine have brought growth to a standstill, had a "chilling effect" on investment and could force Moscow into economic isolation, the International Monetary Fund said on Tuesday. The international lender's report chimed w
Published 02 Jul, 2014 12:00am
Sanctions bring Russian economic growth to standstill: IMF

Sanctions bring Russian economic growth to standstill: IMF

Sanctions imposed on Russia over Ukraine have brought growth to a standstill, had a "chilling effect" on investment and could force Moscow into economic isolation, the International Monetary Fund said on Tuesday. The international lender's report chimed w
Published 02 Jul, 2014 12:00am
Lew says China's currency still undervalued

Lew says China's currency still undervalued

US Treasury Secretary Jacob Lew on Tuesday said China's yuan currency remains undervalued, a longstanding sore point that will be raised at next week's high-level bilateral negotiations in Beijing. Lew said that the yuan, or renminbi, has appreciated 14 p
Published 02 Jul, 2014 12:00am
Previous Day
⇧