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Print - 2014-10-21
IBM profit plunges on disposal of chip unit, poor sales

IBM profit plunges on disposal of chip unit, poor sales

Shares of IBM plummeted Monday after earnings collapsed on a $4.7 billion charge and weak sales raised questions about the technology giant''''s efforts to remake itself. Third-quarter earnings sank from $4.0 billion a year ago period to just $18 million,
Published 21 Oct, 2014 12:00am
IBM profit plunges on disposal of chip unit, poor sales

IBM profit plunges on disposal of chip unit, poor sales

Shares of IBM plummeted Monday after earnings collapsed on a $4.7 billion charge and weak sales raised questions about the technology giant''s efforts to remake itself. Third-quarter earnings sank from $4.0 billion a year ago period to just $18 million, m
Published 21 Oct, 2014 12:00am
IBM profit plunges on disposal of chip unit, poor sales

IBM profit plunges on disposal of chip unit, poor sales

Shares of IBM plummeted Monday after earnings collapsed on a $4.7 billion charge and weak sales raised questions about the technology giant's efforts to remake itself. Third-quarter earnings sank from $4.0 billion a year ago period to just $18 million, ma
Published 21 Oct, 2014 12:00am
IBM profit plunges on disposal of chip unit, poor sales

IBM profit plunges on disposal of chip unit, poor sales

Shares of IBM plummeted Monday after earnings collapsed on a $4.7 billion charge and weak sales raised questions about the technology giant's efforts to remake itself. Third-quarter earnings sank from $4.0 billion a year ago period to just $18 million, ma
Published 21 Oct, 2014 12:00am
CCP issues notices to PAMADA, its members

CCP issues notices to PAMADA, its members

In a major breakthrough, the Competition Commission of Pakistan (CCP) has issued show cause notices to Pakistan Automotive Manufacturers Authorised Dealers Association (PAMADA) and its 44 members for prima facie cartelization, collusion, price fixation an
Published 21 Oct, 2014 12:00am
CCP issues notices to PAMADA, its members

CCP issues notices to PAMADA, its members

In a major breakthrough, the Competition Commission of Pakistan (CCP) has issued show cause notices to Pakistan Automotive Manufacturers Authorised Dealers Association (PAMADA) and its 44 members for prima facie cartelization, collusion, price fixation an
Published 21 Oct, 2014 12:00am
CCP issues notices to PAMADA, its members

CCP issues notices to PAMADA, its members

In a major breakthrough, the Competition Commission of Pakistan (CCP) has issued show cause notices to Pakistan Automotive Manufacturers Authorised Dealers Association (PAMADA) and its 44 members for prima facie cartelization, collusion, price fixation an
Published 21 Oct, 2014 12:00am
MQM ministers, special assistants to Sindh chief minister resign

MQM ministers, special assistants to Sindh chief minister resign

Provincial ministers and special assistants to Chief Minister Sindh from Muttahida Qaumi Movement (MQM) on Monday resigned as per their party's decision to part ways with the PPP-led coalition government. Sindh Health Minister Dr Sagheer Ahmad and Commerc
Published 21 Oct, 2014 12:00am
MQM ministers, special assistants to Sindh chief minister resign

MQM ministers, special assistants to Sindh chief minister resign

Provincial ministers and special assistants to Chief Minister Sindh from Muttahida Qaumi Movement (MQM) on Monday resigned as per their party's decision to part ways with the PPP-led coalition government. Sindh Health Minister Dr Sagheer Ahmad and Commerc
Published 21 Oct, 2014 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Monday (October 20, 2014).

Published 21 Oct, 2014 12:00am
Forex reserves to improve by December: Dar

Forex reserves to improve by December: Dar

Federal Minister for Finance Ishaq Dar on Monday expressed the hope that the country''s foreign exchange reserves would improve after securing two tranches from the International Monetary Fund (IMF), sale of Sukuk and completion of OGDCL transaction. "We
Published 21 Oct, 2014 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Monday (October 20, 2014).

Published 21 Oct, 2014 12:00am
Forex reserves to improve by December: Dar

Forex reserves to improve by December: Dar

Federal Minister for Finance Ishaq Dar on Monday expressed the hope that the country's foreign exchange reserves would improve after securing two tranches from the International Monetary Fund (IMF), sale of Sukuk and completion of OGDCL transaction. "We a
Published 21 Oct, 2014 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Monday (October 20, 2014).

Published 21 Oct, 2014 12:00am
Forex reserves to improve by December: Dar

Forex reserves to improve by December: Dar

Federal Minister for Finance Ishaq Dar on Monday expressed the hope that the country's foreign exchange reserves would improve after securing two tranches from the International Monetary Fund (IMF), sale of Sukuk and completion of OGDCL transaction. "We a
Published 21 Oct, 2014 12:00am
Government allowed to sell off 10 percent OGDCL shares

Government allowed to sell off 10 percent OGDCL shares

The Supreme Court on Monday granted permission to the federal government to sell off 10 percent shares of Oil and Gas Development Company Limited (OGDCL) of its 85 percent holding in the company on a condition that privatisation proceeds would not be spen
Published 21 Oct, 2014 12:00am
Government allowed to sell off 10 percent OGDCL shares

Government allowed to sell off 10 percent OGDCL shares

The Supreme Court on Monday granted permission to the federal government to sell off 10 percent shares of Oil and Gas Development Company Limited (OGDCL) of its 85 percent holding in the company on a condition that privatisation proceeds would not be spen
Published 21 Oct, 2014 12:00am
Government allowed to sell off 10 percent OGDCL shares

Government allowed to sell off 10 percent OGDCL shares

The Supreme Court on Monday granted permission to the federal government to sell off 10 percent shares of Oil and Gas Development Company Limited (OGDCL) of its 85 percent holding in the company on a condition that privatisation proceeds would not be spen
Published 21 Oct, 2014 12:00am
Government allowed to sell off 10 percent OGDCL shares

Government allowed to sell off 10 percent OGDCL shares

The Supreme Court on Monday granted permission to the federal government to sell off 10 percent shares of Oil and Gas Development Company Limited (OGDCL) of its 85 percent holding in the company on a condition that privatisation proceeds would not be spen
Published 21 Oct, 2014 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (October 20, 2014).
Published 21 Oct, 2014 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (October 20, 2014).

Published 21 Oct, 2014 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (October 20, 2014).
Published 21 Oct, 2014 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (October 20, 2014).

Published 21 Oct, 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 (October 20, 2014).

Published 21 Oct, 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 (October 20, 2014).

Published 21 Oct, 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 (October 20, 2014).

Published 21 Oct, 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 21 Oct, 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 21 Oct, 2014 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 21 Oct, 2014 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 21 Oct, 2014 12:00am
Asian naphtha crack climb on South Korean demand

Asian naphtha crack climb on South Korean demand

The Asian naphtha crack climbed by about 2 percent to a three-session high of $68.85 a tonne on Monday, thanks to more demand although supplies were still healthy. South Korea's Lotte Chemical returned to the market on Monday to buy a first-half December
Published 21 Oct, 2014 12:00am
European thermal coal futures fall

European thermal coal futures fall

European thermal coal futures fell on Monday to $71 a tonne, their lowest since March 2009, as weak oil prices and oversupply in the coal market weighed on prices. API2 2015 coal futures traded at $71.25 a tonne on Monday afternoon, down 40 cents on Frida
Published 21 Oct, 2014 12:00am
Weather aids most of Ivory Coast's cocoa crop

Weather aids most of Ivory Coast's cocoa crop

Rainfall mixed with sun across most of Ivory Coast's cocoa regions last week promised an abundant main crop, though excess humidity damaged pods and weighed on prospects in some parts of the country, farmers said on Monday. The 2014/15 main crop in the wo
Published 21 Oct, 2014 12:00am
Oil cake market rates

Oil cake market rates

Futures moved both ways on the forward cottonseeds oilcake market on Monday in the process of trading, dealers said. The December contract closed at Rs 1498.60, but opened with a fall of 30 paisa at Rs 1498.30, they said. The January vaida ended at Rs 169
Published 21 Oct, 2014 12:00am
Cotton market: rates fall amid moderate trading activity

Cotton market: rates fall amid moderate trading activity

Prices showed further decline on the cotton market on Monday in the process of moderate trading activity, dealers said. The official spot rate was unchanged at Rs 5,200, they added. In the ready session, approximately, 21,000 bales of cotton changed hands
Published 21 Oct, 2014 12:00am
EU clears 945,000 tonnes of wheat for exports

EU clears 945,000 tonnes of wheat for exports

The European Union this week granted export licences for 945,000 tonnes of soft wheat, taking the total since the beginning of the 2014/2015 (July-June) season to 8.4 million tonnes, official data showed on Thursday. The total so far this season compared
Published 21 Oct, 2014 12:00am
Brazil's soya planting slowest in six years

Brazil's soya planting slowest in six years

Brazil's soya planting is 10 percent complete for the 2014-15 crop, the slowest for this time of year since the 2008-09 season, local consultancy AgRural said on Monday. Planting advanced just three percentage points from the previous week after a long dr
Published 21 Oct, 2014 12:00am
Rising trend seen on grain market

Rising trend seen on grain market

An upward trend was seen on the wholesale grain market on Monday in the process of modest trading, dealers said. On the cereals side, only Gur prices showed rising trend, gaining Rs 200 to Rs 6800 and 7500 due to rise in demand at the beginning of winter,
Published 21 Oct, 2014 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Friday at Pakistan Mercantile Exchange (PMEX) value traded was recorded at PKR 2.160 billion. The number of lots traded was 11,740 and PMEX Commodity Index closed at 2,872. Major business was contributed by crude oil amounting to PKR 1.593 billion, fol
Published 21 Oct, 2014 12:00am
Tunisia buys 151,000 tonnes of durum

Tunisia buys 151,000 tonnes of durum

Tunisia's state grains agency bought 151,000 tonnes of optional-origin durum wheat in a tender on Friday, European traders said. It paid prices ranging from $524.00 to $547.00 a tonne, cost and freight. The volume purchased consisted of four 25,000-tonne
Published 21 Oct, 2014 12:00am
Russian wheat prices slightly up

Russian wheat prices slightly up

Russian wheat export prices were slightly up last week as a weaker rouble limited supply, analysts said on Monday. Russia, a major global wheat exporter, has seen its currency drop against the dollar and the euro this year due to falling oil prices and We
Published 21 Oct, 2014 12:00am
Indian soyabean futures fall as arrivals pick up

Indian soyabean futures fall as arrivals pick up

Indian soyabean futures fell on Monday as arrival of new harvests started picking up, while settlement of the current month contract also dented buying interest. Soyaoil futures tracked weaker trade in rival palm oil on the Bursa Malaysia Derivatives Exch
Published 21 Oct, 2014 12:00am
US natural gas futures remain lower

US natural gas futures remain lower

US natural gas futures settled a few cents lower on Friday after dropping to their lowest for the year in earlier trading on forecasts for weak heating demand over the next two weeks and continued big storage builds. After falling 3 percent over the prior
Published 21 Oct, 2014 12:00am
Iran buys up to 120,000 tonnes of corn

Iran buys up to 120,000 tonnes of corn

Private importers in Iran bought 95,000 to 120,000 tonnes of corn in the past few weeks, adding to other recent large grain purchases as the country builds up strategic stocks, trade sources said on Friday. The sources said the corn, to be sourced from th
Published 21 Oct, 2014 12:00am
Activity at Karachi & Qasim ports

Activity at Karachi & Qasim ports

The Karachi Port handled 270,959 tonnes of cargo comprising 236,401 tonnes of import cargo and 34,558 tonnes of export cargo including 5,458 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargo of 236
Published 21 Oct, 2014 12:00am
Fire destroys sugar warehouse at Brazil's Santos Port

Fire destroys sugar warehouse at Brazil's Santos Port

A blaze destroyed a sugar warehouse operated by Cargill Inc and Biosev at Brazil's Santos port, the largest in Latin America, early on Monday, the third major fire at a sugar export terminal there over the last year. Firefighters had the blaze under contr
Published 21 Oct, 2014 12:00am
India moves closer to selling a stake in ONGC

India moves closer to selling a stake in ONGC

India moved a step closer to selling a stake in state-run oil company ONGC on Monday, keeping up Prime Minister Narendra Modi's momentum on economic reform after bringing prices of diesel and natural gas closer in line with the market. A barn-storming per
Published 21 Oct, 2014 12:00am
Morocco sees 2015 external borrowing needs reaching $2.8 billion

Morocco sees 2015 external borrowing needs reaching $2.8 billion

Morocco needs external borrowing of 24 billion dirhams ($2.8 billion) in 2015 to plug a budget deficit estimated at 4.3 percent of gross domestic product, Finance Minister Mohamed Boussaid said on Monday. The government is likely to hit a 4.9 percent budg
Published 21 Oct, 2014 12:00am
Areva CEO steps down

Areva CEO steps down

Areva chief executive Luc Oursel announced Monday he had stepped down for health reasons, more than three years after he was appointed to head up the French nuclear giant. "Under these very difficult personal circumstances, and despite my very strong comm
Published 21 Oct, 2014 12:00am
Amnesty slams 'abuse' of migrant workers in South Korea

Amnesty slams 'abuse' of migrant workers in South Korea

Migrant farm workers in South Korea face rampant abuse under a "shameful" government work permit system that encourages exploitation, Amnesty International said in a report published Monday. The report, which the South Korean Labour Ministry suggested was
Published 21 Oct, 2014 12:00am
Amnesty slams 'abuse' of migrant workers in South Korea

Amnesty slams 'abuse' of migrant workers in South Korea

Migrant farm workers in South Korea face rampant abuse under a "shameful" government work permit system that encourages exploitation, Amnesty International said in a report published Monday. The report, which the South Korean Labour Ministry suggested was
Published 21 Oct, 2014 12:00am
Modi steps up economic reforms, eyes privatisation

Modi steps up economic reforms, eyes privatisation

India promised on Monday to open up the coal industry to private players and moved closer to selling a stake in a state-run oil company, as Prime Minister Narendra Modi picked up the pace on economic reform days after relaxing fuel price controls. Using a
Published 21 Oct, 2014 12:00am
Russia bans animal fats, offal from EU

Russia bans animal fats, offal from EU

Russia said on Monday it will ban European Union meat products including pork, chicken and beef fats and offal, widening a ban on European food imports in a tit-for-tat trade spat. The government agriculture watchdog, Rosselkhoznadzor, is imposing the ban
Published 21 Oct, 2014 12:00am
Banks to get instruction manual for submitting Libor quotes
Libor

Banks to get instruction manual for submitting Libor quotes

Banks who submit quotes for compiling Libor interest rates will have to follow a manual of instructions to avoid a repeat of the rigging seen in the past, the benchmark's new administrator said on Monday. Ten banks and brokerages have paid more than $6 bi
Published 21 Oct, 2014 12:00am
EU and China end telecoms row as EU drops threats against Huawei

EU and China end telecoms row as EU drops threats against Huawei

The European Union has ended a long-running telecoms row with China, the EU's trade chief said on Monday, dropping a threat to levy punitive tariffs on Chinese telecoms exports and easing tensions between two of the world's top trading powers. As Reuters
Published 21 Oct, 2014 12:00am
German pilots strike after weekend rail chaos

German pilots strike after weekend rail chaos

Lufthansa pilots launched a strike Monday, deepening Germany's travel chaos after train drivers stopped work at the weekend just as school holidays began in much of the country. The top-selling Bild daily complained that "ping-pong strikes are crippling o
Published 21 Oct, 2014 12:00am
Germany risks recession, in Bundesbank's bleak outlook

Germany risks recession, in Bundesbank's bleak outlook

Germany risks coming dangerously close to recession, the central bank said on Monday in a forecast that predicted little or no economic growth in the second half of the year. In the Bundesbank's gloomy assessment, the euro zone's biggest economy will stay
Published 21 Oct, 2014 12:00am
British economic growth to slow, says leading forecaster

British economic growth to slow, says leading forecaster

The British economy will slow down sharply next year due to political uncertainty and a potential referendum on membership of the EU, a leading forecaster said on Monday. In an autumn forecast released after a turbulent week on world markets, EY ITEM Club
Published 21 Oct, 2014 12:00am
Germany's Metro reports four percent fall in sales

Germany's Metro reports four percent fall in sales

German retail giant Metro AG on Monday reported a four-percent decline in its yearly sales to 63 billion euros ($80 billion), largely because of a strong euro and divestments. However the group said it would still meet its pre-tax operating profit of 1.75
Published 21 Oct, 2014 12:00am
Germany's Metro reports four percent fall in sales

Germany's Metro reports four percent fall in sales

German retail giant Metro AG on Monday reported a four-percent decline in its yearly sales to 63 billion euros ($80 billion), largely because of a strong euro and divestments. However the group said it would still meet its pre-tax operating profit of 1.75
Published 21 Oct, 2014 12:00am
France, Germany pledge action to boost investment, growth

France, Germany pledge action to boost investment, growth

France and Germany, the eurozone's two biggest economies, promised Monday to do what was needed to boost investment in the single currency area at a time when the region's economy is flagging badly. "We agreed to draw up a joint paper by the time of the n
Published 21 Oct, 2014 12:00am
Most Middle East markets fall; Saudi Arabia resilient

Most Middle East markets fall; Saudi Arabia resilient

Most Middle Eastern stock markets fell on Monday as a rebound by global equities turned out to be short-lived, but Saudi Arabia's bourse rose after a string of strong quarterly earnings. Stock indexes in the United Arab Emirates and Qatar rose in early tr
Published 21 Oct, 2014 12:00am
Tokyo shares jump

Tokyo shares jump

Tokyo stocks jumped 3.98 percent on Monday, notching up their biggest one-day points gain in over a year following a sharp rise on Wall Street and as a weaker yen boosted exporters. The Nikkei 225 index at the Tokyo Stock Exchange, which had closed at a f
Published 21 Oct, 2014 12:00am
Monday's midday trade: S&P, Nasdaq climb but IBM results drag Dow lower

Monday's midday trade: S&P, Nasdaq climb but IBM results drag Dow lower

US stocks were mixed on Monday as the S&P 500 and Nasdaq advanced but the Dow fell as quarterly results from IBM disappointed. IBM shares slumped 7.5 percent to $168.46 as the biggest drag on both the Dow and S&P 500 after third-quarter earnings fell well
Published 21 Oct, 2014 12:00am
South African stocks mark time ahead of budget speech

South African stocks mark time ahead of budget speech

South African stocks treaded water on Monday ahead of a budget speech later in the week, even as investors continued to hammer Johannesburg-listed bullion producers such as AngloGold Ashanti. South African Finance Minister Nhlanhla Nene will deliver his m
Published 21 Oct, 2014 12:00am
Southeast Asian markets: Indonesia near three-week high

Southeast Asian markets: Indonesia near three-week high

Indonesian share index hit a near three-week closing high on Monday amid inflows and a rise in the rupiah on expectations of economic reforms by the new president, while most other markets in Southeast Asia gained along with strength in global stocks. Jak
Published 21 Oct, 2014 12:00am