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Dec 05, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-07-02
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
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
Ineos buys BASF out of plastics joint venture for $1.5 billion

Ineos buys BASF out of plastics joint venture for $1.5 billion

Switzerland-based petrochemical firm Ineos said on Monday it had bought out BASF, the world's biggest chemicals group, from their joint venture Styrolution, which produces the styrene used to make plastics, for about $1.5 billion. "Ineos will acquire BASF
Published 02 Jul, 2014 12:00am
Malware aims at US, Europe energy sector

Malware aims at US, Europe energy sector

Cyberattackers, probably state sponsored, have been targeting energy operations in the United States and Europe since 2011 and were capable of causing significant damage, security researchers said Monday. The US security firm Symantec said it identified m
Published 02 Jul, 2014 12:00am
June US auto sales for Big Three best expectations

June US auto sales for Big Three best expectations

US automakers General Motors and Chrysler Tuesday reported higher US sales in June from a year ago, while rival Ford Motor notched a six percent decline. All three companies reported slower sales gains than in May, when the industry overall saw sales rise
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Hong Kong markets closed

Hong Kong markets closed

Hong Kong financial, stocks and commodity markets were closed on Tuesday for a public holiday and will resume trading on Wednesday. The holiday marks the Hong Kong Special Administrative Region Establishment Day.
Published 02 Jul, 2014 12:00am
Australian shares slip

Australian shares slip

Australian shares fell 0.4 percent to end at a two-and-a-half month closing low on Tuesday with major banks weaker after the central bank kept its cash rate steady, outweighing positive data from top trading partner China. The S&P/ASX 200 index ended down
Published 02 Jul, 2014 12:00am
Southeast Asian markets: Indonesia turns higher

Southeast Asian markets: Indonesia turns higher

Stocks in Indonesia eked out slim gains on Tuesday as a set of positive economic data lifted select shares, including banks, while the Philippine index edged lower amid domestic-led selling in rallying stocks such as BDO Unibank. Indonesia's key index ros
Published 02 Jul, 2014 12:00am
Miners boost FTSE to biggest daily gain in two months

Miners boost FTSE to biggest daily gain in two months

Britain's top share index made a strong start to the second half of the year, recording its biggest daily gain in two months as mining stocks rallied, boosted by robust data from China, the world's biggest metals consumer. Poor sales figures, however, pum
Published 02 Jul, 2014 12:00am
Huge BNP Paribas fine is putting currency markets on edge

Huge BNP Paribas fine is putting currency markets on edge

The almost-$9 billion fine slapped on BNP Paribas this week has got foreign exchange markets buzzing about how and when the French bank will process the payment and whether it will lead to sharp price swings. So far, little direct impact has been felt, es
Published 02 Jul, 2014 12:00am
Australian dollar hits fresh 2014 peak

Australian dollar hits fresh 2014 peak

The Australian dollar jumped to its highest in nearly eight months on Tuesday after the country's central bank sounded less dovish than some had expected. The Aussie raced to $0.9464, a high not seen since early November, from around $0.9417 after the Res
Published 02 Jul, 2014 12:00am
Dollar wallows near lows in Asia

Dollar wallows near lows in Asia

The dollar wallowed close to seven-week lows against a basket of major currencies on Tuesday, with the greenback pressured by doubts about the strength of the US economic recovery. The Australian dollar, meanwhile, rose after a central bank policy stateme
Published 02 Jul, 2014 12:00am
Euro back around $1.37 in London

Euro back around $1.37 in London

The euro held near a six-week high against the dollar on Tuesday, threatening a break past $1.37 that could quickly see it back at levels expected to provoke a comment from the European Central Bank at the very least. Much of the morning's market talk con
Published 02 Jul, 2014 12:00am
Early trade in New York: euro dips ahead of ECB meeting

Early trade in New York: euro dips ahead of ECB meeting

The euro slipped from a six-week high against the dollar on Tuesday as worries about verbal intervention by the European Central Bank after recent strength in the euro zone common currency tempered buying. Investors were wary ahead of the ECB's monetary p
Published 02 Jul, 2014 12:00am
Dollar falls in New York

Dollar falls in New York

The dollar slid on Monday to an eight-week low against a basket of currencies, as investors grew cautious ahead of a slew of US economic data this week following dismal growth figures last Wednesday. The greenback dropped to a six-week trough versus the y
Published 02 Jul, 2014 12:00am
Indian rupee gains

Indian rupee gains

The Indian rupee rose on Tuesday tracking stronger domestic shares after foreign investors made their biggest single-day purchase of local stocks in nearly three weeks, while the absence of any central bank intervention also helped. The Reserve Bank of In
Published 02 Jul, 2014 12:00am
Rupiah eases, Asia FX broadly up

Rupiah eases, Asia FX broadly up

The Indonesian rupiah softened on Tuesday as the country posted a smaller-than-expected trade surplus and on concerns over the outcome of the presidential election next week, while most emerging Asian currencies rose on the dollar's broad weakness. The ru
Published 02 Jul, 2014 12:00am
China's yuan near three-month high

China's yuan near three-month high

China's yuan firmed against the dollar on Tuesday after hitting a nearly three-month high in intraday trade, buoyed by increased corporate dollar sales, a sign that China's export performance continued to recover in June. "Dollar supply has overwhelmed de
Published 02 Jul, 2014 12:00am
Sterling hits near six-year high

Sterling hits near six-year high

Sterling hit its highest level since the 2008 financial crisis on Tuesday after a survey showed British manufacturing growing at its fastest in seven months, adding to the case for a rise in interest rates this year. The PMI index of sentiment among manuf
Published 02 Jul, 2014 12:00am
Suarez apologises for World Cup bite

Suarez apologises for World Cup bite

Disgraced Uruguay striker Luis Suarez apologised Monday to Italian defender Giorgio Chiellini for the bite that saw him banned for four months and expelled from the World Cup. Suarez acknowledged for the first time that the Italian was bitten. "I deeply r
Published 02 Jul, 2014 12:00am
New Zealand beat West Indies for series win

New Zealand beat West Indies for series win

New Zealand's perseverance with their frontline bowlers paid off eventually as the visitors completed a 53-run victory over the West Indies in the last hour of the third and final Test match at Kensington Oval in Barbados on Monday. Despite being held up
Published 02 Jul, 2014 12:00am
JS Bank customer wins trip to FIFA World Cup final

JS Bank customer wins trip to FIFA World Cup final

In-line with the ongoing FIFA World Cup 2014, JS Bank customer was announced to be the lucky winner for the Win a Trip to the Final Game of 2014 FIFA World Cup promotion. VISA, one of the chief sponsors of FIFA - 2014 ran a spent campaign in Pakistan. As
Published 02 Jul, 2014 12:00am
We're fully focused on upcoming series: Waqar

We're fully focused on upcoming series: Waqar

Pakistan cricket coach Waqar Younis insisted Tuesday that next year's World Cup would not distract his side as they prepare for tough series against Sri Lanka and Australia. The 42-year-old fast bowling legend took over for a second spell as coach in May
Published 02 Jul, 2014 12:00am
New Zealand's Vincent gets life ban

New Zealand's Vincent gets life ban

Disgraced former New Zealand batsman Lou Vincent on Tuesday was banned for life from cricket for match-fixing, admitting he was a cheat who had shamed the sport and his country. "My name is Lou Vincent and I am a cheat. I have abused my position as a prof
Published 02 Jul, 2014 12:00am
Federer, Wawrinka set up all-Swiss duel

Federer, Wawrinka set up all-Swiss duel

Seven-time champion Roger Federer will take on close friend Stan Wawrinka in the Wimbledon quarter-finals after both men hurried to victory just in time to watch their native Switzerland tackle mighty Argentina in the World Cup. Federer eased into his 12t
Published 02 Jul, 2014 12:00am
Rafael Nadal knocked out

Rafael Nadal knocked out

Australia's world number 144 Nick Kyrgios caused one of the greatest Wimbledon sensations on Tuesday when he sent world number one and 14-time Grand Slam title winner Rafael Nadal crashing to a shock defeat. The 19-year-old Kyrgios, making his Wimbledon d
Published 02 Jul, 2014 12:00am
Sharapova crashes out; Safarova into semis

Sharapova crashes out; Safarova into semis

Maria Sharapova suffered more Wimbledon heartache as the French Open champion crashed to a shock 7-6 (7/4), 4-6, 6-4 defeat against Germany's Angelique Kerber in the fourth round, while Lucie Safarova stormed into her first Grand Slam semi-final on Tuesda
Published 02 Jul, 2014 12:00am
Keshi blasts referee as Nigeria fall to France

Keshi blasts referee as Nigeria fall to France

Nigeria coach Stephen Keshi hit out at American referee Mark Geiger after his side lost 2-0 to France in the World Cup last 16 in Brasilia on Monday. "The referee is a human being and is bound to make mistakes, but a lot of mistakes is questionable," Kesh
Published 02 Jul, 2014 12:00am
Schuerrle, Ozil strike late as Germany sink Algeria

Schuerrle, Ozil strike late as Germany sink Algeria

Extra-time goals by Andre Schuerrle and Mesut Ozil sealed Germany's 2-1 win over Algeria in Monday's last 16 clash to put the three-time winners into the World Cup quarter-finals. The victory at Porto Alegre's Beira-Rio Stadium was Germany's first over Al
Published 02 Jul, 2014 12:00am
Mugabe neighbour fined over roaming dogs

Mugabe neighbour fined over roaming dogs

A neighbour of Zimbabwe President Robert Mugabe has been fined for allowing his dogs to hunt on the 90-year-old leader's land, state media reported Tuesday. "President Mugabe's neighbour, Michael Pazarangu, who set dogs to hunt buck at the president's pri
Published 02 Jul, 2014 12:00am
Russia bans swear words in art, films

Russia bans swear words in art, films

A hugely controversial Russian law banning curse words in films, theatre, the media and arts came into force on Tuesday, part of a Kremlin-backed drive to play up traditional values and root out swearing. The legislation, which was signed off by President
Published 02 Jul, 2014 12:00am
Clock ticking on Iran nuclear talks: Kerry

Clock ticking on Iran nuclear talks: Kerry

Time is running short to reach a nuclear deal between world powers and Iran, and negotiations will not be extended merely as a foot-dragging ploy, top US diplomat John Kerry warned Tuesday. On the eve of the most intensive round of talks yet, Kerry called
Published 02 Jul, 2014 12:00am
Afghan election result delayed as fraud dispute deepens

Afghan election result delayed as fraud dispute deepens

Afghanistan's presidential election result has been delayed for several days, officials said Tuesday, as a dispute over alleged fraud threatens to derail the country's first democratic transfer of power. The preliminary result of the June 14 run-off vote
Published 02 Jul, 2014 12:00am
Putin slams US, says Europe 'natural partner'

Putin slams US, says Europe 'natural partner'

President Vladimir Putin on Tuesday described the conflict in Ukraine as the culmination of Western efforts to contain Russia and sought to play Moscow's "natural partner" Europe against the United States. In a keynote speech laying out his foreign policy
Published 02 Jul, 2014 12:00am
Food rations slashed for 800,000 African refugees: UN

Food rations slashed for 800,000 African refugees: UN

Nearly 800,000 refugees in Africa have had their food rations slashed due to a lack of global aid funding, threatening to push many to the brink of starvation, the UN warned on Tuesday. The cuts of up to 60 percent are "threatening to worsen already unacc
Published 02 Jul, 2014 12:00am
Hundreds of thousands march for democracy in Hong Kong

Hundreds of thousands march for democracy in Hong Kong

Waving colonial-era flags and chanting anti-Beijing slogans, half a million protesters staged a pro-democracy marched in rain-soaked Hong Kong Tuesday, organisers said, claiming the largest turnout since the city was handed back to China. The scale of the
Published 02 Jul, 2014 12:00am
Erdogan launches presidential bid

Erdogan launches presidential bid

Turkish Prime Minister Recep Tayyip Erdogan declared Tuesday his candidacy for the August presidential election which is expected to make him Turkey's longest-serving and most dominant leader since Ataturk. Erdogan - tipped to win the poll despite a turbu
Published 02 Jul, 2014 12:00am
Amnesty slams Lebanon ban on Palestinians fleeing Syria

Amnesty slams Lebanon ban on Palestinians fleeing Syria

Lebanon is acting in a "blatantly discriminatory" manner by denying access to Palestinians fleeing the conflict in neighbouring Syria, Amnesty International said in a report on Tuesday. The watchdog said Lebanon has imposed increasingly onerous entry requ
Published 02 Jul, 2014 12:00am
NASA to try carbon satellite launch

NASA to try carbon satellite launch

The US space agency will try again on Wednesday to launch a satellite designed to track carbon dioxide, a leading greenhouse gas that is responsible for global warming. The first bid to send the Orbiting Carbon Observatory-2 to space was aborted at the la
Published 02 Jul, 2014 12:00am
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
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
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
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
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
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
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
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
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
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
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 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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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