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Print - 2015-02-18
Rs 3.24 per unit refund approved by Nepra

Rs 3.24 per unit refund approved by Nepra

National Electric Power Regulatory Authority (Nepra) on Tuesday approved a refund of Rs 3.24 per unit to the consumers of Distribution Companies (Discos) overcharged in December 2014 in the name of Fuel Price Adjustment (FPA).
Published 18 Feb, 2015 12:00am
Acting Ogra chairman''s petition: notices issued

Acting Ogra chairman''s petition: notices issued

The Islamabad High Court on Tuesday issued notices to Federation through Cabinet Division, Secretary Establishment, Director General (DG) oil Ministry of Petroleum and Natural Resources, Federal Public Service Commission and acting chairman Oil and Gas Re
Published 18 Feb, 2015 12:00am
Acting Ogra chairman's petition: notices issued

Acting Ogra chairman's petition: notices issued

The Islamabad High Court on Tuesday issued notices to Federation through Cabinet Division, Secretary Establishment, Director General (DG) oil Ministry of Petroleum and Natural Resources, Federal Public Service Commission and acting chairman Oil and Gas Re
Published 18 Feb, 2015 12:00am
Acting Ogra chairman's petition: notices issued

Acting Ogra chairman's petition: notices issued

The Islamabad High Court on Tuesday issued notices to Federation through Cabinet Division, Secretary Establishment, Director General (DG) oil Ministry of Petroleum and Natural Resources, Federal Public Service Commission and acting chairman Oil and Gas Re
Published 18 Feb, 2015 12:00am
Businesspeople hold B2B meeting

Businesspeople hold B2B meeting

Prime Minister Nawaz Sharif said on Tuesday that there is special bond between Pakistan and Turkey, stating that both countries share a joint destiny. While addressing the Pakistan-Turkey Business Opportunity Forum 2015, Prime Minister said that words can
Published 18 Feb, 2015 12:00am
Businesspeople hold B2B meeting

Businesspeople hold B2B meeting

Prime Minister Nawaz Sharif said on Tuesday that there is special bond between Pakistan and Turkey, stating that both countries share a joint destiny. While addressing the Pakistan-Turkey Business Opportunity Forum 2015, Prime Minister said that words can
Published 18 Feb, 2015 12:00am
Businesspeople hold B2B meeting

Businesspeople hold B2B meeting

Prime Minister Nawaz Sharif said on Tuesday that there is special bond between Pakistan and Turkey, stating that both countries share a joint destiny. While addressing the Pakistan-Turkey Business Opportunity Forum 2015, Prime Minister said that words can
Published 18 Feb, 2015 12:00am
Joint declaration issued

Joint declaration issued

Pakistan and Turkey on Tuesday reiterated the commitment to continue to transform the cordial bilateral relationship into a robust strategic partnership. This was announced in a joint declaration "On Strengthening Pakistan-Turkey strategic relationship",
Published 18 Feb, 2015 12:00am
Joint declaration issued

Joint declaration issued

Pakistan and Turkey on Tuesday reiterated the commitment to continue to transform the cordial bilateral relationship into a robust strategic partnership. This was announced in a joint declaration "On Strengthening Pakistan-Turkey strategic relationship",
Published 18 Feb, 2015 12:00am
Joint declaration issued

Joint declaration issued

Pakistan and Turkey on Tuesday reiterated the commitment to continue to transform the cordial bilateral relationship into a robust strategic partnership. This was announced in a joint declaration "On Strengthening Pakistan-Turkey strategic relationship",
Published 18 Feb, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (February 16, 2015).

Published 18 Feb, 2015 12:00am
Pakistan and Turkey inch towards FTA

Pakistan and Turkey inch towards FTA

Pakistan and Turkey have agreed to conclude a Free Trade Agreement (FTA) at the earliest to exploit the true potential of economic co-operation and enhance bilateral trade up to $10 billion in due course. This was agreed between the visiting Turkish Prime
Published 18 Feb, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (February 16, 2015).

Published 18 Feb, 2015 12:00am
Pakistan and Turkey inch towards FTA

Pakistan and Turkey inch towards FTA

Pakistan and Turkey have agreed to conclude a Free Trade Agreement (FTA) at the earliest to exploit the true potential of economic co-operation and enhance bilateral trade up to $10 billion in due course. This was agreed between the visiting Turkish Prime
Published 18 Feb, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (February 16, 2015).

Published 18 Feb, 2015 12:00am
Pakistan and Turkey inch towards FTA

Pakistan and Turkey inch towards FTA

Pakistan and Turkey have agreed to conclude a Free Trade Agreement (FTA) at the earliest to exploit the true potential of economic co-operation and enhance bilateral trade up to $10 billion in due course. This was agreed between the visiting Turkish Prime
Published 18 Feb, 2015 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (February 16, 2015).

Published 18 Feb, 2015 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (February 16, 2015).
Published 18 Feb, 2015 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 Tuesday (February 16, 2015).

Published 18 Feb, 2015 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 Tuesday (February 16, 2015).

Published 18 Feb, 2015 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 Tuesday (February 16, 2015).

Published 18 Feb, 2015 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 Tuesday (February 16, 2015).

Published 18 Feb, 2015 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 18 Feb, 2015 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 18 Feb, 2015 12:00am
Attock Cement

Attock Cement

Attock Cement Pakistan Limited (ACPL) is a public limited company that has been listed on the country's main bourse since 2002, although its presence in the country dates back considerably having been set up in 1981. As its name suggests, the company's pr
Published 18 Feb, 2015 12:00am
Attock Cement

Attock Cement

Attock Cement Pakistan Limited (ACPL) is a public limited company that has been listed on the country's main bourse since 2002, although its presence in the country dates back considerably having been set up in 1981. As its name suggests, the company's pr
Published 18 Feb, 2015 12:00am
Manipulating statistics: reply

Manipulating statistics: reply

The Ministry of Finance (MoF) has issued rejoinder on February 13 to my article titled "Manipulating statistics" carried by Business Recorder on February 4. I would like to point out that I have been an active user of statistics for over 35 years a
Published 18 Feb, 2015 12:00am
Foreign debt burden at heart of Russian economic worries

Foreign debt burden at heart of Russian economic worries

Looming debt repayments by Russian companies are now central to discussions of Russia's ability to weather the financial shocks caused by low oil prices and Western sanctions, but the picture is more complex than commonly believed.
Published 18 Feb, 2015 12:00am
The great treasure hunt this time leading to Chiniot

The great treasure hunt this time leading to Chiniot

Prime Minister Nawaz Sharif and Chief Minister Shahbaz Sharif announced at an impressive ceremony last week at Chiniot that abundance of gold and copper deposits have been found in search of iron, hoping that the same would go a long way in bringing prosp
Published 18 Feb, 2015 12:00am
Putting peace above politics

Putting peace above politics

By warmly welcoming Prime Minister Nawaz Sharif at his inauguration and treating him, first among the regional counterparts last year, Prime Minister Narendra Modi surprised quite a few in Pakistan and elsewhere. But that bonhomie didn't last very long; w
Published 18 Feb, 2015 12:00am
Facts on ground

Facts on ground

The monster of terrorism that stalks the streets of Karachi has many faces - he may be a target killer, hired assassin, street-mugger, life-threatening extortionist, sectarian fanatic or simply a foreign-funded saboteur. But whatever be the motive behind
Published 18 Feb, 2015 12:00am
Argentina corn harvest seen at 22.5 million tones

Argentina corn harvest seen at 22.5 million tones

Argentina will produce 22.5 million tonnes of commercial-use corn in the 2014/15 crop cycle, the Buenos Aires Grains Exchange forecast on Thursday. It was the exchange's first corn estimate of the season. Last week, the Rosario grains exchange raised its
Published 18 Feb, 2015 12:00am
Shanghai copper up

Shanghai copper up

The most-traded April copper contract on the Shanghai Futures Exchange edged up 0.4 percent to 42,070 yuan ($6,727) a tonne on Tuesday with traders winding down positions on the last full trading day before the Lunar New Year.
Published 18 Feb, 2015 12:00am
Copper falls on China and Greece worries, tin shrugs off quota

Copper falls on China and Greece worries, tin shrugs off quota

Copper and other base metals fell on Tuesday on concerns about demand in China and following the breakdown in debt talks between Greece and its European partners. Investors were unnerved by data showing average new home prices in China's 70 major cities f
Published 18 Feb, 2015 12:00am
Oil up from early sell-off as Brent sets 2015 record high

Oil up from early sell-off as Brent sets 2015 record high

Oil closed up after a weak start on Tuesday, with Brent crude rising to a 2015 high of $63 a barrel as short-covering returned to a market depressed earlier by worries about euro zone stability. Threats to Middle East crude production and the falling US o
Published 18 Feb, 2015 12:00am
Rubber falls

Rubber falls

Benchmark Tokyo rubber futures snapped three days of gains to head lower on Tuesday, pulling back from a 10-month high, as investors took profit ahead of the week-long Lunar New Year holiday in China that starts on Wednesday. The Tokyo Commodity Exchange
Published 18 Feb, 2015 12:00am
Arctic blast hits US Midwest, some wheat at risk of winterkill

Arctic blast hits US Midwest, some wheat at risk of winterkill

An arctic blast hitting the heart of the US Midwest soft red winter wheat belt this week will put 10 to 15 percent of the dormant crop at risk of winterkill damage, agricultural meteorologists said on Tuesday. While most of the northern Midwest wheat crop
Published 18 Feb, 2015 12:00am
Palm oil eases on demand concerns, position squaring

Palm oil eases on demand concerns, position squaring

Malaysian palm oil slipped on Tuesday, giving up some of last session's gains and falling for a fifth day out of seven on demand worries and position squaring ahead of the long weekend. The market is also bracing for an increase in palm oil production in
Published 18 Feb, 2015 12:00am
Arabica futures slide to one-year low; premium falls

Arabica futures slide to one-year low; premium falls

Arabica coffee futures on ICE slid as much as 5.3 percent in heavy volume on Tuesday on speculative long liquidation that triggered chart-based selling, slashing the bean's premium over robusta to a one-year low. Robusta coffee futures turned lower after
Published 18 Feb, 2015 12:00am
Gold slips in Asia

Gold slips in Asia

Gold snapped a three-day rally on Tuesday as a stronger dollar offset gains from safe-haven bids prompted by a break down in talks between Greece and its creditors. Spot gold fell 0.5 percent to $1,224.75 an ounce by 0735 GMT. It gained about 1 percent in
Published 18 Feb, 2015 12:00am
Gold and silver drop in European trade

Gold and silver drop in European trade

Gold and silver fell to six-week lows on signs that Greek banks will continue to get emergency funding despite a breakdown in debt talks between their government and euro zone partners. A person familiar with the matter told Reuters the European Central B
Published 18 Feb, 2015 12:00am
US MIDDAY: soya hits one-month high

US MIDDAY: soya hits one-month high

US soyabeans climbed to a one-month peak early on Tuesday, lifted by a 2 percent spike in soyameal futures and data showing near-record domestic crushings of the beans in January, traders said. Wheat futures were mixed, with some contracts turning lower a
Published 18 Feb, 2015 12:00am
US MIDDAY: gold and silver down

US MIDDAY: gold and silver down

Gold and silver fell to six-week lows early on Tuesday, while platinum fell to the lowest since 2009, on signs that Greek banks will continue to get emergency funding despite a breakdown in debt talks between their government and euro zone partners.
Published 18 Feb, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Monday at Pakistan Mercantile Exchange (PMEX) value traded was PKR 503 million. The number of lots traded was 3,455 and PMEX Commodity Index closed at 2,597. Major business was contributed by crude oil amounting to PKR 375 million. This was followed by
Published 18 Feb, 2015 12:00am
Ivory Coast rain offers good prospect for cocoa mid-crop

Ivory Coast rain offers good prospect for cocoa mid-crop

Rain and hot weather last week in most of Ivory Coast's main cocoa growing regions should help the April-to-September mid-crop as the main crop tails off, farmers and analysts said on Monday. The world's top cocoa producer is in a dry season that runs fro
Published 18 Feb, 2015 12:00am
Vietnam's January coffee exports fall

Vietnam's January coffee exports fall

Vietnam, the world's largest robusta producer, exported 132,400 tonnes (2.2 million 60-kg bags) of coffee in January, a drop of 5.6 percent from a year earlier, the Vietnam Customs said on Thursday, below market expectations. The January volume brought Vi
Published 18 Feb, 2015 12:00am
Ukraine's 2015 maize area to fall

Ukraine's 2015 maize area to fall

The area Ukraine sows with maize is likely to decrease by up to 7 percent this year due to higher planting costs and a jump in prices of foreign seeds, analysts at UkrAgro Consult said on Tuesday. Ukraine, the world's third-largest maize grower, planted 4
Published 18 Feb, 2015 12:00am
India's January palm oil imports drop

India's January palm oil imports drop

India's palm oil imports in January dropped more than a fifth from a month earlier to 658,670 tonnes as refiners increased overseas purchases of sunflower and soyaoil, data from the Solvent Extractors' Association of India (SEA) showed on Friday. Soyaoil
Published 18 Feb, 2015 12:00am
EU wheat futures gain at one-week high

EU wheat futures gain at one-week high

Euronext wheat futures extended gains on Monday to a one-week high, spurred on by a pre-weekend rally on the US market and adjustments linked to the expiry of options in Paris. Volumes were light as a market closure in the Chicago for US Presidents Day de
Published 18 Feb, 2015 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 115,646 tonnes of cargo comprising 58,773 tonnes of import cargo and 56,873 tonnes of export cargo including 3,534 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.
Published 18 Feb, 2015 12:00am
Oil cake market rates

Oil cake market rates

The January vaida was lower on the forward cottonseed oilcake market on Tuesday in the process of trading, dealers said. The January contract closed at Rs 1566.50 on Monday, and it commenced the day with a decline of 10 paisa at Rs 1566.40, they said.
Published 18 Feb, 2015 12:00am
Cotton market: prices stabilise amid improved trade activity

Cotton market: prices stabilise amid improved trade activity

Prices stabilised on the cotton market on Tuesday on the back of fresh demand by mills and spinners, dealers said. The official spot rate was unchanged at Rs 4,900, dealers said. In the ready session, around 16,000 bales of cotton changed hands between Rs
Published 18 Feb, 2015 12:00am
Cameroon mid-February cocoa farmgate prices rise

Cameroon mid-February cocoa farmgate prices rise

Cocoa farmgate prices in Cameroon, Africa's fourth-largest grower, have risen as the main harvest ends with few crops on the market but farmers fear the long dry season may lead to capsid disease, according to field reports on Monday.
Published 18 Feb, 2015 12:00am
Lean business on grain market

Lean business on grain market

A kind of dullness prevailed on the wholesale grain market on Tuesday in the process of trading, dealers said. On the cereals side, Masoor Canada low type was unchanged at Rs 8800 while the best quality was lower by Rs 200 to Rs 9000, other commodities ma
Published 18 Feb, 2015 12:00am
United subdue Preston uprising to avoid Cup upset

United subdue Preston uprising to avoid Cup upset

Manchester United survived a scare against third tier Preston North End to reach the FA Cup quarter-finals with a hard-fought 3-1 win at Deepdale on Monday. Louis Van Gaal's star-studded side were in danger of an embarrassing fifth round exit when the unh
Published 18 Feb, 2015 12:00am
Dutch arrest five for illegal gambling racket

Dutch arrest five for illegal gambling racket

Dutch tax officials have arrested five men suspected of running an illegal large-scale football betting and money laundering racket, prosecutors said on Tuesday. A six-country investigation led to the arrest of the men, two from The Hague aged 58 and 34,
Published 18 Feb, 2015 12:00am
Tendulkar wary of South Africa threat

Tendulkar wary of South Africa threat

Cricket icon Sachin Tendulkar has issued a warning to triumphant India about their upcoming World Cup match against South Africa, saying the Proteas were "far, far superior" to arch-rivals Pakistan. Batting superstar Tendulkar helped India win the World C
Published 18 Feb, 2015 12:00am
Wasim Akram keen to help revive Pakistan's World Cup campaign

Wasim Akram keen to help revive Pakistan's World Cup campaign

Former captain Wasim Akram is eager to help the Pakistan players salvage their World Cup campaign in Australia and New Zealand, he said on Tuesday. Pakistan lost their opening match of the tournament by 76 runs to arch-rivals India.
Published 18 Feb, 2015 12:00am
Premier League stars face tax probe

Premier League stars face tax probe

Belgian tax authorities are investigating Luxembourg bank accounts held by English Premier League stars Eden Hazard, Thibaut Courtois and Kevin Mirallas, De Morgen newspaper reported Tuesday. The Flemish daily said the Belgian internationals have Luxembou
Published 18 Feb, 2015 12:00am
Holding slams 'pathetic' West Indies

Holding slams 'pathetic' West Indies

West Indies great Michael Holding has slammed the side's four-wicket loss to Ireland in their World Cup opener as a "little bit pathetic". The Caribbean team collapsed to 87 for five in Nelson on Monday before Lendl Simmons (102) and Darren Sammy (89) gui
Published 18 Feb, 2015 12:00am
Clarke debate no problem for Johnson

Clarke debate no problem for Johnson

Australia's Mitchell Johnson said Tuesday the ongoing speculation about captain Michael Clarke's fitness was not proving a distraction for the World Cup favourites.
Published 18 Feb, 2015 12:00am
Afghanistan look to extend World Cup fairytale

Afghanistan look to extend World Cup fairytale

Afghanistan offer the World Cup a fairytale story if they can upset Bangladesh and launch their debut tournament with a victory at Canberra's Manuka Oval on Wednesday.
Published 18 Feb, 2015 12:00am
Shaky New Zealand down brave Scotland

Shaky New Zealand down brave Scotland

New Zealand limped to a three-wicket win over Scotland on Tuesday, maintaining World Cup momentum only after the minnows gave the co-hosts' much-vaunted batting line-up a bloody nose.
Published 18 Feb, 2015 12:00am
Shaky New Zealand down brave Scotland

Shaky New Zealand down brave Scotland

New Zealand limped to a three-wicket win over Scotland on Tuesday, maintaining World Cup momentum only after the minnows gave the co-hosts' much-vaunted batting line-up a bloody nose.
Published 18 Feb, 2015 12:00am
Anglo American takes $3.9 billion charge on sliding iron ore

Anglo American takes $3.9 billion charge on sliding iron ore

Anglo American on Friday announced a write-down of $3.9 billion caused by the sliding price of iron ore which has slashed the value of its Minas-Rio mining project in Brazil. In an annual earnings update, mining giant Anglo American announced "commodity p
Published 18 Feb, 2015 12:00am
Barra, other top GM executives awarded shares as incentive pay

Barra, other top GM executives awarded shares as incentive pay

General Motors Co awarded its top executives with shares in the company as part of a long-term incentive plan, according to company filings with US regulators. The award of the shares disclosed on Friday offered the first glimpse of 2015 compensation for
Published 18 Feb, 2015 12:00am
Bank of Korea holds rates, cautious tone lifts bonds

Bank of Korea holds rates, cautious tone lifts bonds

South Korea's central bank held interest rates steady on Tuesday, as expected, but cautious remarks by its governor about the economic outlook kept hopes alive for a rate cut soon, lifting bond futures. The Bank of Korea's policy board left the policy int
Published 18 Feb, 2015 12:00am