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Nov 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-07-24
US Midwest soya bids narrowly mixed

US Midwest soya bids narrowly mixed

Spot soyabean basis bids were steady to narrowly mixed at elevators and processors around the US Midwest in quiet trade on Tuesday as farmers sold light amounts of soyabeans, dealers said. Some farmers sold soyabeans in delayed pricing programs in the hop
Published 24 Jul, 2014 12:00am
Philippines to buy 500,000 tonnes of rice

Philippines to buy 500,000 tonnes of rice

The Philippines will import an extra 500,000 tonnes of rice to increase its thin stockpiles after a typhoon damaged crops last week, in a deal that could help boost export prices in key producers such as Vietnam. The fresh demand announced on Wednesday by
Published 24 Jul, 2014 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 131,886 tonnes of cargo comprising 118,551 tonnes of import cargo and 13,335 tonnes of export cargo including 4,236 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday. The total import cargo of
Published 24 Jul, 2014 12:00am
Cotton market: lower rates propel mills into making new deals

Cotton market: lower rates propel mills into making new deals

Continued fall in rates, propelled mills to make more deals ahead of Eid-ul-Fitr holidays, dealers said on the cotton market on Wednesday. The official spot rate was down by Rs 100 to Rs 5800, they added. The prices of seed cotton in Sindh and Punjab drop
Published 24 Jul, 2014 12:00am
Vietnam's five-percent broken rice exports up

Vietnam's five-percent broken rice exports up

Vietnam's 5-percent broken rice rose more than 6 percent in the past week to $445-$460 a tonne, the highest in 21 months, due to loading demand for shipments to the Philippines and Malaysia and strong sales to China, traders said on Wednesday. The 25-perc
Published 24 Jul, 2014 12:00am
Firm trend on grain market

Firm trend on grain market

Steadier trend was seen on the wholesale grain market on Wednesday in the process of slow trading, dealers said. On the seeds side, cottonseeds oilcake with bag Sindh New fell sharply by Rs 200 to Rs 2000 and Rs 2100 due to easy supply position, they said
Published 24 Jul, 2014 12:00am
Dubai lender Mashreq net profit jumps 45 percent

Dubai lender Mashreq net profit jumps 45 percent

Mashreq, Dubai''s third-biggest lender by assets, on Wednesday posted a 45 percent rise in second-quarter net profit, aided by higher lending and a strong local economy. The results continue the trend of positive earnings from banks in the United Arab Emi
Published 24 Jul, 2014 12:00am
Dubai lender Mashreq net profit jumps 45 percent

Dubai lender Mashreq net profit jumps 45 percent

Mashreq, Dubai's third-biggest lender by assets, on Wednesday posted a 45 percent rise in second-quarter net profit, aided by higher lending and a strong local economy. The results continue the trend of positive earnings from banks in the United Arab Emir
Published 24 Jul, 2014 12:00am
Dubai lender Mashreq net profit jumps 45 percent

Dubai lender Mashreq net profit jumps 45 percent

Mashreq, Dubai's third-biggest lender by assets, on Wednesday posted a 45 percent rise in second-quarter net profit, aided by higher lending and a strong local economy. The results continue the trend of positive earnings from banks in the United Arab Emir
Published 24 Jul, 2014 12:00am
Japan to cut discretionary spending 10 percent in next FY budget

Japan to cut discretionary spending 10 percent in next FY budget

Japan will cut discretionary spending such as public works by 10 percent in next fiscal year's budget, a draft document showed, as Prime Minister Shinzo Abe's government seeks to cut the government's enormous deficit even as it promotes growth. The saving
Published 24 Jul, 2014 12:00am
Daimler second-quarter profit boosted by new models

Daimler second-quarter profit boosted by new models

Germany's Daimler reported a 12 percent gain in underlying second-quarter operating profit, propelled by Mercedes as its new C-Class and E-Class models helped the luxury auto maker lift margins. The Stuttgart-based maker of trucks and cars said group earn
Published 24 Jul, 2014 12:00am
Daimler second-quarter profit boosted by new models

Daimler second-quarter profit boosted by new models

Germany's Daimler reported a 12 percent gain in underlying second-quarter operating profit, propelled by Mercedes as its new C-Class and E-Class models helped the luxury auto maker lift margins. The Stuttgart-based maker of trucks and cars said group earn
Published 24 Jul, 2014 12:00am
China pledges more financial aid for small firms

China pledges more financial aid for small firms

China will boost support for small companies and the farming sector by getting commercial banks and the central bank to disburse more loans to them, the cabinet said on Wednesday. Chinese authorities have steadily loosened monetary and fiscal policies thi
Published 24 Jul, 2014 12:00am
New Arctic disappointment for Norway's Statoil

New Arctic disappointment for Norway's Statoil

Norway's Statoil has not yet found a viable gas field in the world's northernmost drilling sites, the country's oil industry administrative body said Tuesday, in a new blow for Arctic exploration. The Atlantis well, at a latitude of 74 degrees North, only
Published 24 Jul, 2014 12:00am
EMC raises share buyback program, profit forecast

EMC raises share buyback program, profit forecast

Data storage products maker EMC Corp, under pressure from activist investor Elliott Management to boost shareholder returns, accelerated its share buyback plan and raised its current-year profit forecast. The company raised its share buyback plan to $3 bi
Published 24 Jul, 2014 12:00am
EMC raises share buyback program, profit forecast

EMC raises share buyback program, profit forecast

Data storage products maker EMC Corp, under pressure from activist investor Elliott Management to boost shareholder returns, accelerated its share buyback plan and raised its current-year profit forecast. The company raised its share buyback plan to $3 bi
Published 24 Jul, 2014 12:00am
Lithuania clears last hurdle to joining eurozone

Lithuania clears last hurdle to joining eurozone

Lithuania passed the last hurdle to becoming the 19th member of the eurozone on Wednesday after its EU peers gave their approval. A meeting of the 28 member states in Brussels gave the final go-ahead for Vilnius as it cements ties with Europe against the
Published 24 Jul, 2014 12:00am
EU to set new energy savings target at 30 percent

EU to set new energy savings target at 30 percent

After months of tough negotiations, the European Commission will recommend a new energy savings target of 30 percent on Wednesday as part of plans to combat global warming, an EU source said. The source, who asked not to be named, said the 2030 programme
Published 24 Jul, 2014 12:00am
Sisi's bold start on economic reforms buys Egypt some time

Sisi's bold start on economic reforms buys Egypt some time

Egypt's new president Abdel Fattah al-Sisi has made a head start on tackling the country's economic problems, managing to introduce long-awaited subsidy reform without stirring popular unrest. Sisi's government, formed in June, announced this month it was
Published 24 Jul, 2014 12:00am
Higher commercial jet deliveries boost Boeing's profit

Higher commercial jet deliveries boost Boeing's profit

Boeing Co reported a 52 percent increase in quarterly profit, helped by a rise in commercial aircraft deliveries, and raised its full-year earnings forecast. Still, that was not enough for the company to beat Wall Street's average revenue estimate.
Published 24 Jul, 2014 12:00am
Higher commercial jet deliveries boost Boeing's profit

Higher commercial jet deliveries boost Boeing's profit

Boeing Co reported a 52 percent increase in quarterly profit, helped by a rise in commercial aircraft deliveries, and raised its full-year earnings forecast. Still, that was not enough for the company to beat Wall Street's average revenue estimate.
Published 24 Jul, 2014 12:00am
Microsoft revenue rises, profit falls as Nokia absorbed

Microsoft revenue rises, profit falls as Nokia absorbed

Microsoft Corp reported a greater-then-expected 17 percent jump in revenue on Tuesday, beating Wall Street expectations, but its profit fell 7 percent, chiefly due to the costs of incorporating the struggling handset business of Nokia. Shares of the world
Published 24 Jul, 2014 12:00am
IMF cuts US economic growth forecast

IMF cuts US economic growth forecast

The International Monetary Fund on Wednesday lowered its US economic growth forecast for 2014 after severe winter weather in the first quarter delivered a sharp contraction. The IMF projected that the world's largest economy would grow a "disappointing" 1
Published 24 Jul, 2014 12:00am
Spain shows best growth for six years

Spain shows best growth for six years

The Spanish economy grew at its strongest rate for six years in the second quarter of the year, expanding by 0.5 percent from the previous three months, the central bank said on Wednesday. The bank also raised its forecasts for output for this year and ne
Published 24 Jul, 2014 12:00am
Australia's core inflation high

Australia's core inflation high

Australian consumer prices rose only modestly last quarter but a surprisingly high reading for a key gauge of underlying inflation was enough to dent market speculation of future rate cuts and lift the local dollar. The main offender was the trimmed mean
Published 24 Jul, 2014 12:00am
EU says Ryanair must repay 9.6 million euros in illegal state aid

EU says Ryanair must repay 9.6 million euros in illegal state aid

The European Commission said on Wednesday that low-fare airline Ryanair must repay about 9.6 million euros in illegal state aid it received for its operations in several French regional airports. The Commission, the European Union's executive arm, said Ry
Published 24 Jul, 2014 12:00am
EU says Ryanair must repay 9.6 million euros in illegal state aid

EU says Ryanair must repay 9.6 million euros in illegal state aid

The European Commission said on Wednesday that low-fare airline Ryanair must repay about 9.6 million euros in illegal state aid it received for its operations in several French regional airports. The Commission, the European Union's executive arm, said Ry
Published 24 Jul, 2014 12:00am
With sales sputtering, Apple's iPad looks to IBM alliance

With sales sputtering, Apple's iPad looks to IBM alliance

Apple Inc's iPad is losing steam just four years after its release, but an alliance with International Business Machines Corp could rejuvenate a flagging product by entering into a largely untapped corporate market. Apple shipped 13.2 million iPads in the
Published 24 Jul, 2014 12:00am
Broadcom cuts 2,500 jobs

Broadcom cuts 2,500 jobs

Broadcom Corp said on Tuesday it is winding down its money-losing cellular baseband chip business and cutting one-fifth of its total workforce, instead of selling the unit. Chief Executive Scott McGregor told analysts on a conference call that after Broad
Published 24 Jul, 2014 12:00am
Broadcom cuts 2,500 jobs

Broadcom cuts 2,500 jobs

Broadcom Corp said on Tuesday it is winding down its money-losing cellular baseband chip business and cutting one-fifth of its total workforce, instead of selling the unit. Chief Executive Scott McGregor told analysts on a conference call that after Broad
Published 24 Jul, 2014 12:00am
PepsiCo raises profit forecast

PepsiCo raises profit forecast

PepsiCo Inc reported a higher-than-expected quarterly profit and raised its full-year adjusted earnings forecast, helped by strong sales of snacks such as Lays and Doritos chips in North America. Shares of the maker of Pepsi-Cola, Frito-Lay snacks and Tro
Published 24 Jul, 2014 12:00am
PepsiCo raises profit forecast

PepsiCo raises profit forecast

PepsiCo Inc reported a higher-than-expected quarterly profit and raised its full-year adjusted earnings forecast, helped by strong sales of snacks such as Lays and Doritos chips in North America. Shares of the maker of Pepsi-Cola, Frito-Lay snacks and Tro
Published 24 Jul, 2014 12:00am
EBRD bank to stop new investments in Russia

EBRD bank to stop new investments in Russia

The EBRD bank on Wednesday said it will freeze funding for new projects in Russia in response to sanctions announced by Brussels last week over the Ukraine crisis. The European Bank for Reconstruction and Development confirmed the move as the European Uni
Published 24 Jul, 2014 12:00am
Eurozone confidence falls, bodes ill for recovery

Eurozone confidence falls, bodes ill for recovery

Consumer confidence in the euro zone deteriorated much more than expected in July, adding to worries about the health of the bloc's economic recovery, European Commission preliminary data showed on Wednesday. The 18 countries using the euro saw consumer c
Published 24 Jul, 2014 12:00am
Saudi Arabia's bourse rally slows; UAE, Qatar pull back

Saudi Arabia's bourse rally slows; UAE, Qatar pull back

Saudi Arabia's stock market gained on Wednesday on the back of the bluechips which are expected to be bought when the market opens to direct foreign investment. But rises slowed after Tuesday's leap. The main Saudi index climbed 1.4 percent to a fresh six
Published 24 Jul, 2014 12:00am
Tokyo stocks down

Tokyo stocks down

Tokyo stocks closed down 0.10 percent on Wednesday as early buying following a positive lead from Wall Street ran out of steam. The benchmark Nikkei 225 index slipped 14.72 points to 15,328.56, while the Topix index of all first-section issues edged down
Published 24 Jul, 2014 12:00am
Wednesday's early trade: S&P hits record high

Wednesday's early trade: S&P hits record high

The S&P 500 hit a record high on Wednesday, lifted by bullish earnings from companies like Apple and Microsoft, though technical resistance and conflicts in Ukraine and the Gaza Strip kept gains in check. The S&P touched a record above 1,989 but the 1,985
Published 24 Jul, 2014 12:00am
Wall Street gains on earnings, data

Wall Street gains on earnings, data

US stocks rose on Tuesday as some positive earnings and economic data pointed to a market that still had room to rise despite the S&P 500 hitting an intraday record. Investors continued to pay close attention to unstable regions abroad, and while violence
Published 24 Jul, 2014 12:00am
Sri Lankan stocks slip

Sri Lankan stocks slip

Sri Lankan stocks slipped on Wednesday from their 34-month closing high hit the previous day as investors booked profits in diversified and banking shares, brokers said. The main stock index ended 0.18 percent, or 12.39 points weaker at 6,783.98, slipping
Published 24 Jul, 2014 12:00am
Treasury debt yields fall

Treasury debt yields fall

US Treasury debt yields fell on Tuesday as benign US inflation data suggested less pressure for the Federal Reserve to raise interest rates sooner than expected. There was also some safe-haven buying in the afternoon, boosting bond prices, in connection w
Published 24 Jul, 2014 12:00am
Treasury debt yields fall

Treasury debt yields fall

US Treasury debt yields fell on Tuesday as benign US inflation data suggested less pressure for the Federal Reserve to raise interest rates sooner than expected. There was also some safe-haven buying in the afternoon, boosting bond prices, in connection w
Published 24 Jul, 2014 12:00am
India's NSE hits record high

India's NSE hits record high

India's NSE index rose to a record high on Wednesday, gaining for a seventh straight session, led by technology stocks on continued buying by foreign-investors on a positive earnings outlook, while firm Asian markets also helped sentiment. The broader ind
Published 24 Jul, 2014 12:00am
Hong Kong, China shares soar

Hong Kong, China shares soar

Hong Kong stocks ended 0.80 percent higher Wednesday, adding to the previous day's healthy rally following a positive lead from Wall Street. The benchmark Hang Seng Index rose 189.76 points to 23,971.87 on turnover of HK$79.82 billion (US $10.30 billion).
Published 24 Jul, 2014 12:00am
Lisbon rallies as European shares edge higher

Lisbon rallies as European shares edge higher

Portugal's stock market outperformed other European bourses on Wednesday, rallying after investors bought stakes in the country's troubled lender Banco Espirito Santo. Lisbon's benchmark PSI-20 equity index rose 1.7 percent, beating the 0.2 percent gains
Published 24 Jul, 2014 12:00am
Australian shares climb

Australian shares climb

Australian shares added 0.6 percent on Wednesday to close at six-year highs with gains across all major sectors after Wall Street rose on solid earnings, but tensions in Gaza and Ukraine kept gains in check. The S&P/ASX 200 index climbed 33.4 points to 5,
Published 24 Jul, 2014 12:00am
Southeast Asian markets: Thai shares rebound; Indonesia up

Southeast Asian markets: Thai shares rebound; Indonesia up

Thai shares rose on Wednesday as investors built positions in bluechip stocks amid a clearer political outlook while Indonesia edged up after Joko "Jokowi" Widodo was declared the winner of presidential election. The Thai SET index ended up 1.4 percent af
Published 24 Jul, 2014 12:00am
GSK clips wings of FTSE after warning

GSK clips wings of FTSE after warning

A profit warning by heavyweight drugs firm GlaxoSmithKline took the shine of Britain's top equity index on Wednesday, offsetting gains in outsourcing group Capita and miner BHP Billiton. Shares in GSK fell 4.7 percent, their worst drop since 2008, after t
Published 24 Jul, 2014 12:00am
Dollar stays up in Asia

Dollar stays up in Asia

The dollar held close to a six-week peak against a basket of currencies in Asian trade on Wednesday, as the euro edged down to touch a fresh 2014 low on the diverging interest rate outlook for the US and eurozone. The dollar index, which tracks the greenb
Published 24 Jul, 2014 12:00am
Euro drops versus dollar, pound in London

Euro drops versus dollar, pound in London

The euro hit an eight-month low against the dollar on Wednesday as worries over tougher sanctions on Russia and their potential impact on fragile euro zone growth drove investors away from the single currency. Harsher steps could be a particular hit to eu
Published 24 Jul, 2014 12:00am
Dollar rises in New York

Dollar rises in New York

The dollar rose on Tuesday as US bond yields stood firm on the view that the world's biggest economy is expanding enough for the Federal Reserve to raise interest rates next year despite data showing a mild rise in domestic prices in June. The euro fell t
Published 24 Jul, 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 Wednesday. 77.54-77.55 (previous 77.54-77.54). Call Money Rates: 05.75-07.25 percent (* previous 05.50-07.25 percent). (* revised).
Published 24 Jul, 2014 12:00am
Indian rupee strengthens

Indian rupee strengthens

The Indian rupee strengthened to its strongest level in a week and half on Wednesday as continued foreign fund inflows into the domestic share and debt markets aided while gains in other Asian units also helped. Traders expect the rupee to remain wedged b
Published 24 Jul, 2014 12:00am
Asian forex: Rupiah scales two-month high

Asian forex: Rupiah scales two-month high

The Indonesian rupiah set a two-month high on Wednesday, rallying after Joko "Jokowi" Widodo was declared the winner of Indonesia's presidential election. The rupiah rose more than 0.9 percent at one point and touched a high of around 11,485 versus the do
Published 24 Jul, 2014 12:00am
Australian dollar rises

Australian dollar rises

The Australian dollar rose to a two-week high on Wednesday after a key measure of underlying inflation surprised on the upside, prompting markets to pare chances of an interest rate cut this year. The Aussie rose as high as $0.9439, up from $0.9387 and a
Published 24 Jul, 2014 12:00am
Sterling weakens

Sterling weakens

Sterling fell from near two-year highs against the euro on Wednesday and struck a three-week low versus the dollar after minutes from this month's Bank of England policy meeting were less hawkish than some in the market had anticipated. The minutes showed
Published 24 Jul, 2014 12:00am
Man City, Croatian club in 'racism' war of words

Man City, Croatian club in 'racism' war of words

Manchester City's under-21 team walked off the pitch during a friendly against Croatian side HNK Rijeka after one of their players was racially abused, the club has claimed. But officials of the Croatian club denied any racist slur took place and accused
Published 24 Jul, 2014 12:00am
Monaco moves into Gstaad quarter-finals

Monaco moves into Gstaad quarter-finals

Juan Monaco held his nerve in a tight final set to upset third seed Guillermo Garcia-Lopez 6-2, 2-6, 6-4 on Wednesday for a second consecutive place in a quarter-final at the Swiss Open. The Argentine, whose ranking has dropped to 105, won his sixth of ei
Published 24 Jul, 2014 12:00am
CommonWealth opening ceremony tribute to MH17 victims

CommonWealth opening ceremony tribute to MH17 victims

The 2014 Commonwealth Games opening ceremony in Glasgow on Wednesday will include a tribute to victims of the Malaysia Airlines MH17 flight disaster, organisers said. Prince Imran from Malaysia, president of the Commonwealth Games Federation, said all the
Published 24 Jul, 2014 12:00am
Feed probe after Queen's Gold Cup winner fails drug test

Feed probe after Queen's Gold Cup winner fails drug test

A horse-feed firm launched an investigation on Wednesday into the failed drugs test of Estimate, the Gold Cup winner owned by Britain's Queen Elizabeth II. The winner of the prestigious Royal Ascot stayers' crown in 2013 was one of five horses that tested
Published 24 Jul, 2014 12:00am
Trott claims first century since illness break

Trott claims first century since illness break

England batsman Jonathan Trott scored his first century since returning to top-level cricket after a stress-related illness during Warwickshire's County Championship game against Sussex on Wednesday. The 33-year-old right-hander, who scored 138 in a reser
Published 24 Jul, 2014 12:00am
Lithuanian biathlete banned for doping

Lithuanian biathlete banned for doping

Lithuanian biathlete Karolis Zlatkauskas has been banned for two years for doping, the International Biathlon Union (IBU) announced on Wednesday. Zlatkauskas tested positive for the banned blood booster Erythropoietin (EPO) out-of-competition in December
Published 24 Jul, 2014 12:00am
Williamson action deemed illegal

Williamson action deemed illegal

New Zealand part-time spinner Kane Williamson has been banned from bowling after biomechanical tests confirmed his action is illegal, New Zealand Cricket (NZC) said Wednesday. Williamson was reported following New Zealand's 10-wicket defeat in the second
Published 24 Jul, 2014 12:00am
Loew to stay on as Germany coach

Loew to stay on as Germany coach

Germany coach Joachim Loew said on Wednesday that he never considered leaving his post after winning the World Cup title and insisted he would see out his contract which runs until Euro 2016. "I didn't think of stopping for one second," said Loew, 54, in
Published 24 Jul, 2014 12:00am
Afghan chief promises World Cup upsets

Afghan chief promises World Cup upsets

Afghanistan's triumph over Zimbabwe on Tuesday was far from a surprise to the man who runs the game in the war-torn nation and he has warned cricket's establishment to brace itself for more shocks at the World Cup next year. The Asian greenhorns beat Zimb
Published 24 Jul, 2014 12:00am
Amla heaps praise on struggling Tahir

Amla heaps praise on struggling Tahir

South African skipper Hashim Amla on Wednesday backed struggling leg-spinner Imran Tahir to come good, saying he had the qualities to be a match-winning bowler. The 35-year-old Pakistan-born spinner took just one wicket off 45 overs in the first Test at G
Published 24 Jul, 2014 12:00am
Rafal Majka wins Tour de France 17th stage

Rafal Majka wins Tour de France 17th stage

Young Pole Rafal Majka climbed to his second mountain stage victory of the Tour de France on Wednesday. Having already triumphed in the Alps, the Tinkoff-Saxo rider added a Pyrenean stage to his ledger with victory on the 124.5km 17th stage from Saint-Gau
Published 24 Jul, 2014 12:00am
CCBPL announces Football League in August

CCBPL announces Football League in August

In line with its commitment to promoting active and healthy lifestyle and youth development, Coca-Cola Beverages Pakistan Limited (CCBPL), is organizing the Coca-Cola Football League in Multan. The league will run from 1st to 14th August 2014 at the Sport
Published 24 Jul, 2014 12:00am
PCB unveils new domestic league

PCB unveils new domestic league

Pakistan's cricket administration on Wednesday unveiled a new domestic league revamp, though demands to remove commercial and government department teams from the competition were ignored. Pakistan has long suffered from a below-par domestic structure. Ma
Published 24 Jul, 2014 12:00am
British singer Adele wins damages over photos of son

British singer Adele wins damages over photos of son

British singer Adele has accepted a five-figure sum in damages on behalf of her two-year-old son from a paparazzi agency that took photos of his "milestone moments", her lawyers said on Wednesday. Adele, 26, and her partner Simon Konecki had brought legal
Published 24 Jul, 2014 12:00am
Shebab militants shoot dead famed Somali singer, MP

Shebab militants shoot dead famed Somali singer, MP

Somali lawmaker and prominent singer-songwriter Saado Ali Warsame was shot dead Wednesday in the capital Mogadishu in the latest attack by Shebab insurgents against the government, police and witnesses said. The shooting, with gunmen spraying her car with
Published 24 Jul, 2014 12:00am
First MH17 bodies arrive in Netherlands as nation mourns

First MH17 bodies arrive in Netherlands as nation mourns

The first bodies from flight MH17 arrived in the Netherlands on Wednesday almost a week after it was shot down over Ukraine, with grieving relatives and the king and queen solemnly receiving the as yet unidentified victims. Church bells rang out throughou
Published 24 Jul, 2014 12:00am
Heatstroke kills three in Japan

Heatstroke kills three in Japan

Sweltering temperatures across Japan have left at least three people dead and 3,000 others taken to hospital with heatstroke in the course of a week, officials said Wednesday. The state weather agency said temperatures topped 35 degrees Celsius (95 degree
Published 24 Jul, 2014 12:00am
British MP sorry over Gaza 'fire a rocket' tweet

British MP sorry over Gaza 'fire a rocket' tweet

A British lawmaker apologised Wednesday after tweeting that he would likely fire rockets into Israel if he lived in the Gaza Strip. "The big question is - if I lived in Gaza would I fire a rocket? - probably yes," Liberal Democrat member of parliament Dav
Published 24 Jul, 2014 12:00am
British reporter for Russian TV 'captured' by Ukraine

British reporter for Russian TV 'captured' by Ukraine

A British journalist reporting for a Russian television channel from conflict-torn eastern Ukraine went missing on Wednesday, with Moscow alleging he and another journalist were captured by Kiev's troops. Graham Phillips, a British national who works as a
Published 24 Jul, 2014 12:00am
French court approves Brussels shooter's extradition to Belgium

French court approves Brussels shooter's extradition to Belgium

France's final appeals court Wednesday cleared the extradition to Belgium of a French-Algerian man suspected of carrying out a deadly shooting at the Jewish Museum in Brussels. The decision by the Cour de Cassation was no surprise as Mehdi Nemmouche, 29,
Published 24 Jul, 2014 12:00am
Beijing shuts large coal power plant to curb smog

Beijing shuts large coal power plant to curb smog

Beijing on Wednesday closed the first of four large coal-fired power plants that are set to be shut down as part of efforts to curb its choking air pollution, media reported. The 50-year-old Gaojing Thermal Power Plant is to be replaced with a gas-fired p
Published 24 Jul, 2014 12:00am
Gaza church opens doors to war refugees

Gaza church opens doors to war refugees

For the first time in years, Gaza City's Greek Orthodox church is packed to overflowing, having offered refuge to hundreds of Palestinians who fled their homes under Israeli bombardment. Around 600 people, mostly women and children, are sheltering in the
Published 24 Jul, 2014 12:00am
Libya power handover agreed as airport battle rages on

Libya power handover agreed as airport battle rages on

The General National Congress, which has governed violence-wracked Libya in the wake of the overthrow of dictator Muammar Qadhafi, said Wednesday it will hand over legislative power to a newly-elected parliament on August 4. But hopes that the announcemen
Published 24 Jul, 2014 12:00am
Iraq MPs stall presidential vote as violence rages

Iraq MPs stall presidential vote as violence rages

Iraqi lawmakers on Wednesday postponed choosing a new president for their ailing country while air strikes, suicide car bombs and summary executions yielded their daily grim crop of bodies. Parliament adjourned without even broaching the issue and agreed
Published 24 Jul, 2014 12:00am
ICE cotton ekes out gains as mills continue to nibble

ICE cotton ekes out gains as mills continue to nibble

Cotton futures rose slightly on Tuesday as mills continued to buy small parcels of fibre, even as technical selling pushed prices off their intraday highs after the market pierced a key short-term resistance earlier in the day. Holding in recent ranges, t
Published 24 Jul, 2014 12:00am
Zinc near three-year peak as stocks fall

Zinc near three-year peak as stocks fall

Zinc held near a three-year peak on Wednesday with supply set to tighten while aluminium dipped from multi-month highs but could turn higher again as inventories fall and demand rises. Still, some investors question whether zinc can maintain its strength,
Published 24 Jul, 2014 12:00am
US crude gains on drop in domestic oil inventories

US crude gains on drop in domestic oil inventories

Oil futures rose on Wednesday, with US crude outpacing Brent, after oil stockpiles in the United States fell more than expected. The US Energy Information Administration said US crude stocks fell by 4 million barrels last week, while gasoline and distilla
Published 24 Jul, 2014 12:00am
Rubber slips

Rubber slips

Tokyo rubber futures slipped on Wednesday as the yen moved higher against the US dollar and as investors were reluctant to lock in fresh positions ahead of HSBC's PMI data for China, dealers said. The Tokyo Commodity Exchange rubber contract for December
Published 24 Jul, 2014 12:00am
Corn slides to four-year lows

Corn slides to four-year lows

US corn futures drifted to fresh four-year lows on Tuesday, erasing early gains as favourable weather forecasts bolstered expectations for a bumper harvest, traders said. Wheat followed corn down. Soyabeans closed mostly lower, led by new-crop months, but
Published 24 Jul, 2014 12:00am
Palm oil plunges

Palm oil plunges

Malaysian palm oil futures slid to their lowest in more than 11 months on Wednesday, dragged by fears of abundant global oilseed supplies, and as estimates for an uptick in palm oil output this month turned investors wary. The benchmark October contract o
Published 24 Jul, 2014 12:00am
ICE cocoa at three-year high

ICE cocoa at three-year high

Cocoa futures on ICE rallied to a three-year high in exceptionally heavy volume on Wednesday as physical cocoa prices exceeded futures and holders of short positions in the nearby contract scrambled to close them, traders said. Arabica coffee on ICE Futur
Published 24 Jul, 2014 12:00am
Gold slips in New York

Gold slips in New York

Gold fell on Tuesday as tensions eased in Ukraine after pro-Russian rebels handed the flight recorder and victims' remains from a downed Malaysian passenger jet to international authorities. The spot price of gold was down 0.4 percent at $1,306.35 an ounc
Published 24 Jul, 2014 12:00am
Gold little changed in Asia

Gold little changed in Asia

Gold held steady on Wednesday in Asia after dipping overnight, and looked likely to hold above $1,300 an ounce in the near term as geopolitical tensions from crises in Ukraine and the Gaza strip brought safe-haven bids. But sluggish physical demand in Asi
Published 24 Jul, 2014 12:00am
Gold steadies in Europe

Gold steadies in Europe

Gold steadied on Wednesday after the previous day's drop, supported by simmering conflict in Ukraine and the Middle East, but under pressure from buoyancy in stock markets after positive US data and corporate earnings. Sluggish physical demand in Asia in
Published 24 Jul, 2014 12:00am
US approves plan to open Atlantic to oil reserve surveys

US approves plan to open Atlantic to oil reserve surveys

The Obama administration on Friday approved a plan that would allow companies to assess oil resources off the Atlantic Coast, angering environmental groups that worried the plan will harm marine life and open the door to offshore drilling. First outlined
Published 24 Jul, 2014 12:00am
US MIDDAY: soyabeans rise

US MIDDAY: soyabeans rise

Front-month soyabean futures rose to their highest level in more than a week on Wednesday, supported by firming US cash markets as supplies of old-crop soyabeans dwindle with the autumn harvest still about two months away, traders said. Corn futures fell
Published 24 Jul, 2014 12:00am
Filling vehicles with LPG: OGRA urged to withdraw ban

Filling vehicles with LPG: OGRA urged to withdraw ban

Chairman LPG Distributors Association (DA) Irfan Khokhar and President of Rickshaw Union (RU) Mujeed Ghori on Wednesday demanded of Oil and Gas Authority (OGRA) to take back its decision to ban filling of public service vehicles with Liquefied Petroleum G
Published 24 Jul, 2014 12:00am
Lawyer among four killed in various acts of violence

Lawyer among four killed in various acts of violence

At least four people including a lawyer were killed while five others injured in different incidents of violence in the city, here on Wednesday. According to police and rescue sources, lawyer Mubarak Raza Kazmi was gunned down by unidentified armed men ne
Published 24 Jul, 2014 12:00am
Old-age homes: Mobilink Foundation holds Iftar-cum-dinner

Old-age homes: Mobilink Foundation holds Iftar-cum-dinner

Mobilink Foundation organised Iftar and dinners for senior citizens residing at old-age homes across Pakistan. The country wide activity was organised for over 200 senior citizens by 50 Mobilink Foundation Torchbearers. Mobilink Foundation also distribute
Published 24 Jul, 2014 12:00am
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