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May 14, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-08-12
Musharraf to leave for abroad this month: Wassan

Musharraf to leave for abroad this month: Wassan

Some old inmates would be released from prisons while some new would be arrested and jailed and hence the administration of Prisons in Sindh had been directed to make necessary preparations to deal with the in-and-out situation inside prisons soon. Former
Published 12 Aug, 2014 12:00am
Stalled revenues erode shine from Europe's profits

Stalled revenues erode shine from Europe's profits

Signs that European companies are failing to grow revenues in a frustratingly slow economic recovery are muting investors' relief that cost-cutting and cheap debt have at last delivered a rebound in profits. Although Europe's second-quarter results season
Published 12 Aug, 2014 12:00am
'The budget process in Pakistan'

'The budget process in Pakistan'

Apropos 'The budget process in Pakistan', carried by Business Recorder on Sunday, one needs to commend the efforts of the writer to analyse one of the most critical areas of public finance. The writer has argued that during the budget-making proces
Published 12 Aug, 2014 12:00am
US MIDDAY: gold flat

US MIDDAY: gold flat

Gold prices were little changed early on Monday as rising global equities, and an apparent easing of tensions over Ukraine and the Middle East, prompted bullion investors to lock in profits above $1,300 an ounce. Equity markets largely ignored news Russia
Published 12 Aug, 2014 12:00am
US MIDDAY: wheat lower

US MIDDAY: wheat lower

Wheat futures on the Chicago Board of Trade lower early on Monday after a seesaw session as traders adjusted positions one day ahead of the US Department of Agriculture's monthly supply/demand reports, traders said. Market were pressed by technical sellin
Published 12 Aug, 2014 12:00am
Gold down in Europe

Gold down in Europe

Gold edged lower on Monday, hovering below a three-week high as tensions between Ukraine and Russia eased and investors turned to rising global shares and some withdrew from exchange-traded gold funds. Late on Friday Russia's Defence Ministry said it had
Published 12 Aug, 2014 12:00am
Gold dips in Asia

Gold dips in Asia

Gold slipped further from a three-week high on Monday as investors eyed firmer equity markets and outflows from the world's top bullion fund, but held above $1,300 an ounce on concern over the Middle East and Ukraine. Spot gold fell 0.2 percent to $1,306.
Published 12 Aug, 2014 12:00am
ICE arabica coffee rallies, cocoa up

ICE arabica coffee rallies, cocoa up

ICE arabica coffee jumped over 4 percent on Monday in heavy, spread-related dealings and as worries over crop damage in top producer Brazil sparked buying and pushed sellers to the sidelines. Cocoa futures in New York touched a three-year high as strong d
Published 12 Aug, 2014 12:00am
Palm oil sinks to over one-year low

Palm oil sinks to over one-year low

Malaysian palm oil futures sank to a more-than-one-year low on Monday after an unexpected rise in palm end-stocks, with projections of a bumper crop of competing oilseeds sparking fears that supply would overwhelm global demand. Palm oil stocks in Malaysi
Published 12 Aug, 2014 12:00am
Rubber little changed

Rubber little changed

Tokyo rubber futures gave up early gains to settle little changed on Monday as a holiday in top producer Thailand, declines in the Shanghai market, and weaker oil prices curbed interest from speculators. The Tokyo futures, which set the tone for tyre grad
Published 12 Aug, 2014 12:00am
Copper steadies

Copper steadies

Copper steadied on Monday as the easing of tensions between Russia and Ukraine and optimism about the outlook for China's economy and metals demand offset expectations of rising copper supplies. Three-month copper on the London Metal Exchange (LME) closed
Published 12 Aug, 2014 12:00am
Shanghai copper up

Shanghai copper up

The most-traded October copper contract on the Shanghai Futures Exchange settled up 0.2 percent at 49,890 yuan ($8,107.45) a tonne on Monday as appetite for risk grew following a move by Russia that soothed tensions over the Ukraine, while optimism over t
Published 12 Aug, 2014 12:00am
Indonesia ban on nickel ore, bauxite exports to stay

Indonesia ban on nickel ore, bauxite exports to stay

Indonesia has no plans to wind back a seven-month old ban on exports of unprocessed nickel ore and bauxite that has led to billions of dollars in planned investments in smelters, top government officials said. Indonesia - previously the world's top export
Published 12 Aug, 2014 12:00am
Article 245: IHC to hear petition against promulgation today

Article 245: IHC to hear petition against promulgation today

A three-member larger bench of Islamabad High Court (IHC) will today (Tuesday) hear a petition filed against promulgation of Article 245 of the Constitution in federal capital for three-month. The bench was headed by Chief Justice IHC Justice Muhammad Anw
Published 12 Aug, 2014 12:00am
Nadra rejects PTI chief's claim

Nadra rejects PTI chief's claim

Nadra has taken notice of Chairman PTI, Imran Khan's press briefing in which he again reproached Nadra of manipulating election material in the basement of COMSATS building. The spokesman of Nadra rejecting PTI Chief's claim said Nadra has repeatedly clar
Published 12 Aug, 2014 12:00am
Monsoon season: CDA begins removal of wild bushes, grass

Monsoon season: CDA begins removal of wild bushes, grass

On the directions of Chairman Capital Development Authority (CDA), Maroof Afzal, Environment Wing of the authority has started removal of wild bushes and grass, grown as result of recent monsoon season. In this connection, special teams under supervision
Published 12 Aug, 2014 12:00am
Government urged to set up council for minority rights

Government urged to set up council for minority rights

Federal and provincial governments must constitute Council for minority rights, a special law enforcement (police) force to protect non-Muslim worship places, and form a think tank to combat religious intolerance as per the directives of the apex court ju
Published 12 Aug, 2014 12:00am
Media distorted my statement: Qadri

Media distorted my statement: Qadri

Pakistan Awami Tehreek (PAT) leader, Tahirul Qadri on Monday denied that he had asked his workers to "martyr anyone who retreats from his revolution march" and said "media distorted his Sunday's statement". He clarified that he had only said that if Tahir
Published 12 Aug, 2014 12:00am
Lawyers protest against Israeli cruelties

Lawyers protest against Israeli cruelties

Hundreds of lawyers have came out on the streets in Multan to deplore the ongoing Israeli offensive against Palestinians in the besieged Gaza Strip and killing more than 1,800 Palestinians including women and children. Member of High Court Multan on Monda
Published 12 Aug, 2014 12:00am
Imran arrives in Lahore to lead the march on August 14

Imran arrives in Lahore to lead the march on August 14

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has arrived in the provincial capital on Monday to lead the 'Azadi March' on August 14 to Islamabad with a determination to 'topple the monarchy of Sharif brothers and replace it with true democracy'. He
Published 12 Aug, 2014 12:00am
0.4 million people to participate in 'Azadi March': Minister

0.4 million people to participate in 'Azadi March': Minister

Khyber Pakhtunkhwa Minister for Mineral Development, Ziaullah Afridi and Advisor to CM Ishtiaq Umar said that more than 400,000 people will participate in 'Azadi March' on August 14, and warned the Punjab government for stopping them. "If Imran Khan is de
Published 12 Aug, 2014 12:00am
What type of revolution PAT Chief wants in country, asks minister

What type of revolution PAT Chief wants in country, asks minister

Minister for States and Frontier Region Lieutenant General Abdul Qadir Baloch (Retd) said that what type of revolution Pakistan Awami Tehreek (PAT) Chief Dr Tahirul Qadri wants in the country. While speaking on the floor of the National Assembly on Monday
Published 12 Aug, 2014 12:00am
Floods kill 45 in eastern India

Floods kill 45 in eastern India

Flooding in eastern India has killed 45 people and displaced more than 300,000 in the past week, a senior official said Monday, adding that water levels were now gradually receding. Residents have been sheltering in relief centres in Orissa since being ev
Published 12 Aug, 2014 12:00am
Typhoon Halong leaves 10 dead in Japan: reports

Typhoon Halong leaves 10 dead in Japan: reports

At least 10 people died and dozens were injured as Typhoon Halong hurtled across the Japanese archipelago at the weekend, reports said Monday, with heavy rain still lashing the country's north. The storm moved over the Sea of Japan (East Sea) and lurched
Published 12 Aug, 2014 12:00am
Beijing hits out at US South China Sea proposal

Beijing hits out at US South China Sea proposal

Beijing accused the US of deliberately stoking tensions in the South China Sea as it rejected Washington's proposal for a freeze on provocative actions in the region, the foreign ministry said Monday. The remarks by Foreign Minister Wang Yi came at an ASE
Published 12 Aug, 2014 12:00am
Sri Lanka slams US over travel warning

Sri Lanka slams US over travel warning

Sri Lanka accused the United States Monday of creating a "false and alarmist view" after Washington warned of possible violence on the island and said anti-Western sentiment was rising. The travel warning was issued after an opposition party staged a peac
Published 12 Aug, 2014 12:00am
Syrian family among 10 killed in Aleppo air raid: NGO

Syrian family among 10 killed in Aleppo air raid: NGO

Syrian regime forces dumped barrel bombs Monday on a rebel-held area of Aleppo killing 10 civilians, including a family of four, a monitoring group said. An AFP correspondent who later toured the area said the raids also caused heavy destruction in Bab al
Published 12 Aug, 2014 12:00am
Foreign media protest Hamas harassment in Gaza

Foreign media protest Hamas harassment in Gaza

The Foreign Press Association on Monday lodged a strong protest accusing the Palestinian Islamist group Hamas of harassment and of threatening foreign reporters working in Gaza. The association for journalists working in Israel and the Palestinian territo
Published 12 Aug, 2014 12:00am
American with suspected jihadist allegiance arrested in New York

American with suspected jihadist allegiance arrested in New York

An American who tweeted his allegiance to the leader of Islamic State jihadists was arrested at New York's JFK airport last week, officials said Monday. Donald Ray Morgan was taken into custody on August 2 upon his arrival from Frankfurt, according to doc
Published 12 Aug, 2014 12:00am
US shipping arms to Iraqi Kurds

US shipping arms to Iraqi Kurds

The United States has begun urgently shipping weapons to the Iraqi Kurdish forces battling an advance by extremist Islamic State militants, a State Department spokeswoman said Monday. "We're working with the government of Iraq to increasingly and very qui
Published 12 Aug, 2014 12:00am
Britain aborts second Iraq aid drop over safety fears

Britain aborts second Iraq aid drop over safety fears

Britain was forced to abort a second airdrop of humanitarian aid to refugees in northern Iraq on Monday because of fears of injuring people on the ground, a military spokesman said. A fresh attempt will be made within 24 hours to deliver desperately neede
Published 12 Aug, 2014 12:00am
Russia says sending non-military aid convoy to east Ukraine

Russia says sending non-military aid convoy to east Ukraine

Russia said Monday it was sending a civilian aid convoy to eastern Ukraine in co-operation with the Red Cross, despite Western fears the mission might be used as cover for intervention. Kiev said an aid mission was planned but that Western nations would b
Published 12 Aug, 2014 12:00am
Prisoners escape shelled jail in east Ukraine

Prisoners escape shelled jail in east Ukraine

Scores of panicked inmates escaped when shells rained down on a high-security prison in eastern Ukraine during heavy fighting between government forces and pro-Moscow rebels, authorities said Monday. Ukraine's military meanwhile reported six soldiers kill
Published 12 Aug, 2014 12:00am
Three dead, 17 injured in Thai building collapse

Three dead, 17 injured in Thai building collapse

At least three workers died and 17 others were injured when a six-storey building under construction collapsed just outside Bangkok, police said Monday, as rescuers searched for an unknown number of missing people. The planned student accommodation block
Published 12 Aug, 2014 12:00am
Kerry in Australia with deeper military cooperation on agenda

Kerry in Australia with deeper military cooperation on agenda

US Secretary of State John Kerry arrived in Sydney on Monday for annual talks expected to deepen military engagement with close ally Australia, but the focus will also be on hotspots abroad including Iraq and Ukraine. Kerry and Defence Secretary Chuck Hag
Published 12 Aug, 2014 12:00am
Spain rescues 267 migrants from small boats

Spain rescues 267 migrants from small boats

Spain's coastguard said it had rescued 267 sub-Saharan African migrants on Monday, including 39 women and three children who were among those trying to reach Spanish soil on a flotilla of small boats. The migrants were picked up in the Strait of Gibraltar
Published 12 Aug, 2014 12:00am
Mamnoon greets Erdogan

Mamnoon greets Erdogan

President Mamnoon Hussain on Monday extended his warm and sincere felicitations to Recep Tayyip Erdogan on his victory in the presidential elections held on August 10. The President, in his message to Erdogan, said the transformation in Turkey in the last
Published 12 Aug, 2014 12:00am
5kg heroin recovered: ANF seizes three consignments

5kg heroin recovered: ANF seizes three consignments

ANF seized three consignments in three different operations launched at courier service companies at Rawalpindi and Lahore, while recovering 5-kg heroin destined for abroad. According to details, ANF Rawalpindi intercepted a parcel at APX Courier Service,
Published 12 Aug, 2014 12:00am
Two TTP terrorists, two dacoits gunned down

Two TTP terrorists, two dacoits gunned down

At least three people were killed in separate incidents of violence while police claimed to have gunned down two suspected terrorists of banned Tehreek-e-Taliban Pakistan (TTP) and two dacoits here. According to police sources, two suspected terrorists of
Published 12 Aug, 2014 12:00am
Prices of potatoes likely to fall soon

Prices of potatoes likely to fall soon

Prices of potatoes might decline considerably shortly when its supply from Quetta, Kohat and Balakot would start reaching the local markets, sources told Business Recorder. Though the government had allowed duty-free import of potatoes, the price o
Published 12 Aug, 2014 12:00am
PN Command, Staff Conference held

PN Command, Staff Conference held

The third Command and Staff Conference of Pakistan Navy for the year 2014 was held at Naval Headquarters Islamabad with Chief of the Naval Staff, Admiral Mohammad Asif Sandila in the chair here on Monday aimed at reviewing operational preparedness and dev
Published 12 Aug, 2014 12:00am
Girls outshine boys again in HSSC Part-II exams

Girls outshine boys again in HSSC Part-II exams

Maintaining the previous record, girls have outshone the boys by bagging more top positions in the Higher Secondary School Certificate (HSSC) Part-II exams, according to the result announced in a ceremony held here on Monday. Federal Minister for Educatio
Published 12 Aug, 2014 12:00am
PTI, PAT marches plan: goods carriers reluctant to go to Punjab, KP

PTI, PAT marches plan: goods carriers reluctant to go to Punjab, KP

Following the announcement of independence (Azadi) and revolution (Inqelab) marches by Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehrik (PAT), respectively, cargo movement to Punjab and KP has been halted, raising chances of scarcity of food and i
Published 12 Aug, 2014 12:00am
KP Police awards honest officer

KP Police awards honest officer

Inspector General of Police (IGP) Khyber Pakhtunkhwa Nasir Khan Durrani has said that Khyber Pakhtunkhwa police force has no parallel in bravery and honesty. This he said while addressing an award distribution ceremony held at CPO Peshawar on Monday, whic
Published 12 Aug, 2014 12:00am
Placing MVIs under STA: SHC seeks explanation from Sindh government

Placing MVIs under STA: SHC seeks explanation from Sindh government

Sindh High Court (SHC) had sought submission of explanation about amendments made to the Motor Vehicle Act-2014 within 3 weeks. The amendments and the notification for placing the Motor Vehicle Inspector under Sindh Transport Authority(STA) were challenge
Published 12 Aug, 2014 12:00am
Sindh universities: PAC to hire third party auditors for accountability

Sindh universities: PAC to hire third party auditors for accountability

Sindh Public Accounts Committee will hire third party auditors for better accountability of the universities while a committee of provincial assembly members would also visit finance departments of the varsities to keep a check on their financial issues.
Published 12 Aug, 2014 12:00am
'PTI's march a conspiracy against democracy'

'PTI's march a conspiracy against democracy'

President Balochistan National Party Dr Abdul Hai Baloch has termed the Pakistan Tehreek-e-Insaf's long march a conspiracy against democracy. Talking to Radio Pakistan, he said the long march is not in the interest of the country as it will weaken democra
Published 12 Aug, 2014 12:00am
Six-kg bomb defused in Kurram Agency

Six-kg bomb defused in Kurram Agency

The security forces on Monday foiled a major terror plot by defusing six kilogram bomb and arresting several terrorists in Sadda town of Kurram tribal region. According to the local administration, the explosives were hidden in a thermos. The Bomb Disposa
Published 12 Aug, 2014 12:00am
Takht Bhai railway flyover design changed

Takht Bhai railway flyover design changed

On the recommendations of Senate Standing Committee, National Highway Authority (NHA) changed the design of the Takht Bhai railway flyover. An official source informed APP Monday that in view of social issue rose at the site due to protests of the locals
Published 12 Aug, 2014 12:00am
Body found in Panjgur

Body found in Panjgur

Police recovered a body of man from Panjgur town area of Balochistan on Monday. According to police, on a tip off, a police party reached the site and took the body into custody which was dumped an open area after killing by unknown men. The body was shif
Published 12 Aug, 2014 12:00am
Country may miss cotton production target

Country may miss cotton production target

The country is likely to miss cotton production target of 15.1 million bales set for the current season 2014-15 after failing to meet the sowing target by 6 per cent and attacks of sucking insects on the crop, official sources reveal. Sources in the Minis
Published 12 Aug, 2014 12:00am
Vision 2025: Pakistan Post issues two postage stamps

Vision 2025: Pakistan Post issues two postage stamps

Pakistan Post issued two Commemorative Postage stamps of Rs 8/- and Rs 10/- denomination each, on Monday on launching of the long-run road map of a progressive Pakistan in the shape of Pakistan Vision 2025. Vision 2025 divides its challenges and goals int
Published 12 Aug, 2014 12:00am
KP chief minister asks Sharifs to avoid arresting PTI workers

KP chief minister asks Sharifs to avoid arresting PTI workers

KP Chief Minister Pervez Khattak has asked the federal and provincial governments of Sharif brothers to avoid arresting and using force against workers of rival political parties and dragging the state institutions into politics.
Published 12 Aug, 2014 12:00am
DSP Bannu sacked for complicity with criminals

DSP Bannu sacked for complicity with criminals

The Inspector General of Police (IGP) Khyber-Pakhtunkhwa Nasir Khan Durrani suspended DSP Bannu Sardad Khan; closed him to Central Police Office Peshawar and ordered departmental inquiry against him. As per details, the IGP received various complaints aga
Published 12 Aug, 2014 12:00am
Ahsan Iqbal to inaugurate 8th Pakistan SME Forum on August 19

Ahsan Iqbal to inaugurate 8th Pakistan SME Forum on August 19

Professor Ahsan Iqbal, Federal Minister for Planning, Development and Reform will inaugurate the 8TH Pakistan SME Forum 2014 organized annually by SHAMROCK Conferences International to be held on August 19 at local hotel. This year's theme is "Bringing SM
Published 12 Aug, 2014 12:00am
Filing of returns consistently decreasing: Rehmatullah

Filing of returns consistently decreasing: Rehmatullah

Rehmatullah Khan Wazir, Director General Broadening Tax Base, Federal Board of Revenue, Islamabad held meeting with Chief Commissioners and Commissioners of all Regional Tax Office, Karachi on Monday. The meeting was attended by Hafiz Muhammad Ali Indhar,
Published 12 Aug, 2014 12:00am
No one should try to derail democracy: chief minister Balochistan

No one should try to derail democracy: chief minister Balochistan

Balochistan Chief Minister Dr Abdul Malik Baloch on Monday said that all political parties have right to hold demonstration and rallies, adding however that no one should try to derail the democracy. He urged all political leaders to play their due role f
Published 12 Aug, 2014 12:00am
Political scenario taking a dangerous turn: JI Ameer

Political scenario taking a dangerous turn: JI Ameer

JI Ameer Sirajul Haq has said that political scenario in the country is taking a dangerous turn but the ray of hope is still there, and he would try till the last moment to pull the country out of the present crisis. While talking to reporters before a me
Published 12 Aug, 2014 12:00am
LHCBA denounces PTI's march

LHCBA denounces PTI's march

The Lahore High Court Bar Association (LHCBA) has announced to resist every extra constitutional move in country and denounced "Azadi march" to be held by PTI and other parties. A general house meeting of the bar here on Monday through a resolution carrie
Published 12 Aug, 2014 12:00am
'Traffic blockades to adversely affect poultry supply'

'Traffic blockades to adversely affect poultry supply'

Chairman Pakistan Poultry Association (NZ), Raza Mehmood Khursand has warned of a possible short supply of poultry in the province in coming days and high poultry meat prices because of blockade of traffic by the government to restrict the movement of Tah
Published 12 Aug, 2014 12:00am
PML-N government pushing country towards civil war: Elahi

PML-N government pushing country towards civil war: Elahi

Labelling Prime Minister Nawaz Sharif and Chief Minister Shahbaz Sharif "civilian dictators," Pakistan Muslim League-Quaid (PML-Q) leader Chaudhry Pervez Elahi has said the ruling Pakistan Muslim League-Nawaz (PML-N) government is pushing the country towa
Published 12 Aug, 2014 12:00am
Public meeting: Qadri advised to seek permission from DM ICT

Public meeting: Qadri advised to seek permission from DM ICT

Chief Commissioner Islamabad has written a letter to chairman Pakistan Awami Tehrik (PAT) Allama Tahirul Qadri to seek permission from the District Magistrate Islamabad Capital Territory to hold any public event in ICT. In his letter the Chief Commissione
Published 12 Aug, 2014 12:00am
Government is ready to talk to Imran: Nawaz

Government is ready to talk to Imran: Nawaz

Prime Minister Nawaz Sharif has said that the PML-N government is ready to talk to Imran Khan and find a better way to defuse the political tension. He was chairing a meeting on Monday to discuss the administrative steps taken for controlling the mob on Y
Published 12 Aug, 2014 12:00am
LCCI urges political parties to show maturity

LCCI urges political parties to show maturity

Lahore Chamber of Commerce and Industry (LCCI) on Monday demanded of all the political parties to show maturity and try to resolve issues through talks as politics of agitation is pushing national economy to the wall. "Due to political unrest trade and ec
Published 12 Aug, 2014 12:00am
Present situation to be handled politically, administratively: CM Punjab

Present situation to be handled politically, administratively: CM Punjab

Punjab Chief Minister Muhammad Shahbaz Sharif on Monday said people have given us a mandate and we will overcome the present situation administratively and politically. In an interview to a private TV channel, Shahbaz Sharif said that he has offered dialo
Published 12 Aug, 2014 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Monday at Pakistan Mercantile Exchange (PMEX) value traded was recorded at PKR 1,421 million. Number of lots traded was 7,203 and PMEX Commodity Index closed at 3,006. Major business was contributed by gold amounting to PKR 738 million, followed by cru
Published 12 Aug, 2014 12:00am
Hong Kong and China stocks up

Hong Kong and China stocks up

Hong Kong stocks closed 1.29 percent higher on Monday following a late rally last week on Wall Street, where investors shrugged off concerns over ongoing instability in Iraq and Ukraine. The benchmark Hang Seng Index reversed three straight days of losses
Published 12 Aug, 2014 12:00am
Dubai bourse extends gains

Dubai bourse extends gains

Dubai's stock index rose for a third session in a row on Monday to lead Gulf market gains, while Industries Qatar shrugged off a fifth straight decline in quarterly profit as investors bet the firm's performance would improve in the second half of 2014. D
Published 12 Aug, 2014 12:00am
EU officials seek to limit impact of Russia's food import ban

EU officials seek to limit impact of Russia's food import ban

European Union regulators on Monday began analysing product-by-product the impact of a Russian ban on EU food imports and agreed emergency measures to support peach and nectarine growers in what they described as a "signal of intent". The Russian ban, ann
Published 12 Aug, 2014 12:00am
Polish exports to Russia, Ukraine fall

Polish exports to Russia, Ukraine fall

Polish exports to Russia and Ukraine fell sharply in the first half of this year, illustrating the impact of a crisis which a minister in Warsaw has said will eat into domestic economic growth this year. Exports to Russia fell 10.7 percent year on year an
Published 12 Aug, 2014 12:00am
Audi says will 'accept penalty' in China anti-monopoly probe

Audi says will 'accept penalty' in China anti-monopoly probe

German luxury car brand Audi will accept punishment from Chinese authorities for breaching anti-monopoly laws in the world's largest auto market, it said Monday. An investigation by Chinese authorities found that an Audi dealer network had "violated natio
Published 12 Aug, 2014 12:00am
Deutsche Bank sues former China executive for $3.9 million

Deutsche Bank sues former China executive for $3.9 million

Deutsche Bank is suing a former top executive of its China operations for $3.9 million, according to reports, accusing him of transferring the sum to an account held by another company at a Chinese bank. Lee Zhang was previously chairman of Deutsche Bank
Published 12 Aug, 2014 12:00am
Growth strong in UK, slips in Japan, eurozone on track: OECD

Growth strong in UK, slips in Japan, eurozone on track: OECD

Leading economies are showing a steady growth trend overall, although Britain is doing particularly well and Japan and Germany are showing signs of losing pace, the OECD said on Monday. The eurozone as a whole, and France, are on a stable growth path, the
Published 12 Aug, 2014 12:00am
Russia's economy expands in second quarter

Russia's economy expands in second quarter

Russia's economy grew by 0.8 percent from April to June compared with output during the same period last year, a preliminary estimate by Russia's statistics committee showed on Monday. The figure is lower than a 1.2-percent growth forecast reported by Rus
Published 12 Aug, 2014 12:00am
Moody's cuts Italy GDP forecast

Moody's cuts Italy GDP forecast

Moody's has cut its 2014 growth forecast for Italy and now expects the economy to contract by 0.1 percent this year, adding to pressure on Prime Minister Matteo Renzi to deliver on promised far-reaching reforms. The US rating agency, which had previously
Published 12 Aug, 2014 12:00am
US to force swaps overhaul to improve wind-downs

US to force swaps overhaul to improve wind-downs

The way the world's largest banks use derivatives is set for drastic change after the US Federal Reserve and Federal Deposit Insurance Corp moved to strip financial counterparties of early termination rights on new derivatives contacts in the event of som
Published 12 Aug, 2014 12:00am
RBS confirms it's considering sale of Coutts arm

RBS confirms it's considering sale of Coutts arm

Royal Bank of Scotland confirmed it was considering selling the international arm of its private bank, a deal one source said could net it as much as $1 billion, as the British government leans on it to focus more on domestic lending. The move means that
Published 12 Aug, 2014 12:00am
Rains slow Argentina's 2014-15 wheat planting

Rains slow Argentina's 2014-15 wheat planting

Light-to-moderate rains on Argentina's Pampas grains belt slowed wheat sowing over the previous seven days, with 94.2 percent of projected sowing area already planted, the Buenos Aires Grains Exchange said in its weekly crop report on Thursday. The exchan
Published 12 Aug, 2014 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 229,153 tonnes of cargo comprising 205,716 tonnes of import cargo and 23,437 tonnes of export cargo including 1,133 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargo of 205
Published 12 Aug, 2014 12:00am
Rising interest rates may revive appetite for Islamic commodity deals

Rising interest rates may revive appetite for Islamic commodity deals

A return to an era of higher interest rates could derail attempts by Islamic finance to create alternatives to a short-term funding instrument that has dominated the industry, but which some scholars and regulators want to see replaced. Islamic finance ha
Published 12 Aug, 2014 12:00am
US moves to enhance safety of oil-by-rail shipments

US moves to enhance safety of oil-by-rail shipments

The US Department of Transportation last Wednesday proposed new safety rules for hauling crude oil by rail after a string of explosive accidents, in a move that could impact railroads, drillers, refiners and railcar makers amid an energy boom. The draft r
Published 12 Aug, 2014 12:00am
Russia's wheat prices flat

Russia's wheat prices flat

Russian wheat prices were flat last week in dollar terms, supported by a weakening of the rouble and record exports in the middle of the harvesting campaign, analysts said on Monday. Russia, one of the main wheat suppliers via the Black Sea, exported 2.8
Published 12 Aug, 2014 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (August 11, 2014).

Published 12 Aug, 2014 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (August 11, 2014).

Published 12 Aug, 2014 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (August 11, 2014).

Published 12 Aug, 2014 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 12 Aug, 2014 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 12 Aug, 2014 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 12 Aug, 2014 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 12 Aug, 2014 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 12 Aug, 2014 12:00am
Lean business on grain market

Lean business on grain market

Lean business was business seen on the wholesale grain market on Monday due to lack of fresh buying interest among buyers, dealers said. On the rise side, Irri-9 Sindh shed Rs 100 to Rs 5400-5500 and Irri-6 Sindh old managed to gain Rs 20 to Rs 3650, othe
Published 12 Aug, 2014 12:00am
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