Finance Minister Ishaq Dar Monday chaired a meeting considering important matters for setting up of a mortgage refinance company. The company by the proposed name of "Pakistan Mortgage Refinance Company Limited" is envisaged to be formed with the objectiv
Finance Minister Ishaq Dar Monday chaired a meeting considering important matters for setting up of a mortgage refinance company. The company by the proposed name of "Pakistan Mortgage Refinance Company Limited" is envisaged to be formed with the objectiv
Co-hosts Australia and New Zealand may be the teams to beat, but the striking feature of this World Cup is Asia's four Test nations defying conventional wisdom to make the quarter-finals. The belief that Asian cricketers struggle on the hard, bouncy wicke
South Africa coach Russell Domingo insisted his side had faced up to their unwanted tag of cricket's serial "chokers" ahead of a World Cup quarter-final with Sri Lanka in Sydney on Wednesday. Despite boasting some of the world's most outstanding one-day p
Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Monday, while it strengthened on the black market. The bank said it had offered $40 million and sold $38.7 million at a cut-off price of 7.5301 pounds
Sterling pulled away from a five-year low against the dollar on Monday as investors turned cautious before a Federal Reserve meeting this week that will test bets on a mid-2015 US interest rate rise. The Fed's rate-setting Open Market Committee (FOMC) beg
Sri Lankan rupee forwards ended weaker on Monday on importer dollar demand, but moral suasion by the central bank prevented a sharper fall as the market waited for cues on interest rates, which have been rising since last month. Actively-traded two-week r
China's yuan weakened against the dollar on Monday after the central bank set a weaker midpoint, reflecting the greenback's global strength. The People's Bank of China (PBOC) set the midpoint rate at 6.1615 per dollar prior to market open, weaker than the
Most emerging Asian currencies extended their declines on Monday with investors expecting the US Federal Reserve to indicate this week that it would start to raise interest rates from the middle of the year. The Indonesian rupiah hit a fresh 17-year low,
Interbank buy/sell rates for the taka against the dollar on Monday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 07.00-8.00 percent (Previous 07.00-08.00 percent).
The euro found a foothold against the dollar on Monday, bolstered by concerns expressed by Italy's central bank governor about the pace of its fall to 12-year lows as the European Central Bank launched quantitative easing. Ignazio Visco, also a member of
The dollar fell across the board on Monday, as investors fretted that the greenback's rapid rise could prompt the Federal Reserve to be a little more cautious about raising interest rates this year. The US currency has risen about 24 percent against a bas
The euro sank to a fresh 12-year low on Monday after a recent bounce was met with fresh selling interest in a sign that investors were still very bearish on the common currency. The euro fell as far as $1.0457 early in Asia, its lowest since January 2003,
The New Zealand and Australian dollars scaled new heights against a soggy euro, but were more guarded versus their US counterpart ahead of the Federal Reserve's policy review later this week. The New Zealand dollar posted another lifetime high against the
Britain's top share index rebounded on Monday after its biggest weekly drop of 2015, with mining stocks boosting the market on expectations of steady economic growth in China, the world's biggest metals consumer. Tesco shares rose 3.7 percent on news that
Australian shares clawed back hefty early losses on Monday as investors looked past concerns about the impact of a higher US dollar and pondered the likely positive impact on exporters. Stocks fell nearly 1 percent in early trading after weak US inflation
Germany's DAX raced to record highs on Monday, part of an extended European stock market rally driven by investors' expectations that a weakened euro will boost the region's economy and lift exporter earnings. The European rally also pushed up Switzerland
China shares closed at their highest in five and a half years on Monday, fuelled by expectations of further government stimulus after Premier Li Keqiang said Beijing had plenty of scope to adjust policies in order to boost the world's second-largest econo
Tokyo stocks ended a three-day winning streak Monday as investors await developments from Bank of Japan and US Federal Reserve meetings this week. The benchmark Nikkei 225 at the Tokyo Stock Exchange, which on Friday ended above 19,000 points for the firs
Most Southeast Asian stock markets fell on Monday, with the Thai index closing at a more than two-month low amid sell-offs in index heavyweights but the Indonesian benchmark eked out small gains as banking shares rose ahead of the central bank's rate deci
Sri Lankan shares fell for the 11th straight session on Monday to a six-week closing low with some buying by foreign investors, but local investors awaited direction with worries over rising interest rates. The main stock index ended 0.57 percent, or 40.3
US stocks rose on Monday, with utilities leading a rebound on the S&P after three weeks of losses, as a decline in the US dollar against the euro eased some worries over how a robust greenback might erode the earnings of multinationals. The dollar fell
Indian shares fell on Monday, marking their lowest close in more than one month on profit-taking in stocks heavily owned by foreign investors, ahead of the US Federal Reserve's two-day policy meet starting on Tuesday. The BSE index ended 0.23 percent lowe
Hong Kong shares rose on Monday in step with strong gains in mainland markets on expectation that China will loosen policy to bolster its slowing economy, but analysts say the strengthening US dollar is having a negative effect on Hong Kong stocks. Premie
South African stocks ended higher on Monday as traders chased after bargains after the main indices suffered their biggest weekly drop of the year in the previous week. The bluechip JSE Top-40 index was up 0.72 percent to 46,202 and the broader All-share
Taiwan stocks were flat on Monday as investors stayed cautious ahead of the US Federal Reserve's two-day meeting this week, while heavyweights such as Taiwan Semiconductor Manufacturing Co (TSMC) fell. As of 0140 GMT, the main TAIEX index was down 0.1 per
Gulf stock markets, including the previously resilient Saudi Arabia, extended losses alongside oil on Monday, while Egypt dropped on profit-taking after a strong run and ahead of a fresh public offer of shares. Brent crude fell to around $54 a barrel, its
International Monetary Fund chief Christine Lagarde hailed India as a bright spot in the otherwise gloom-ridden global economy Monday, saying the recovery from the 2008-2009 financial crisis was still fragile. Speaking at the start of a two-day visit, Lag
International Monetary Fund chief Christine Lagarde hailed India as a bright spot in the otherwise gloom-ridden global economy Monday, saying the recovery from the 2008-2009 financial crisis was still fragile. Speaking at the start of a two-day visit, Lag
General Motors said Monday that at least 67 people had died as a result of defective ignition switches in its vehicles, raising the death toll in its delayed-recall scandal. The GM independent compensation fund said that 133 death claims remained under re
Kuwait has sought help from the International Monetary Fund to introduce corporate taxes in a bid to diversify revenue in the face of falling oil prices, a minister said Monday. "The IMF will prepare a preliminary report on how to impose taxes on companie
Kuwait has sought help from the International Monetary Fund to introduce corporate taxes in a bid to diversify revenue in the face of falling oil prices, a minister said Monday. "The IMF will prepare a preliminary report on how to impose taxes on companie
US manufacturing output fell in February for the third straight month as the production of automobiles and a range of goods tumbled, the latest indication of slower economic growth in the first quarter. Activity has softened in recent months, constrained
A recovery in oil prices which began last month is not justified by fundamentals as there remains a supply glut in the market, oil cartel Opec said Monday in its monthly report. Crude prices rallied about 20 percent in February, ending a losing streak las
US real estate investor Blackstone Group said Monday it is buying the iconic 110-storey Willis Tower in Chicago, the second-tallest building in the United States. Blackstone gave no price for the purchase from the current owners, 233 South Wacker LLC, but
The chief of Qatar Airways on Monday denied his company receives subsidies and accused rivals Delta Air Lines of flying "crap" older planes, escalating hostilities between Gulf and American carriers. Speaking at an arts conference in Doha, Akbar al-Baker
Indonesia posted a trade surplus for a third straight month in February, official data showed Monday, but the good news was tempered by figures showing a huge fall in both exports and imports. Southeast Asia's top economy saw a higher-than-expected surplu
Moldova's economy grew 4.6 percent in 2014, the state statistics service said on Monday, after increased exports to the European Union helped to offset trade bans imposed by Russia on some Moldovan products. Europe's poorest economy had expanded by 8.9 pe
China's Internet tycoon Jack Ma, founder of giant online merchant Alibaba, gave a glimpse of the future when he demonstrated a new e-payment system using facial recognition at the CeBIT IT fair in Germany. Criss-crossing the stage in the style of a Silico
The Karachi Port handled 196,878 tonnes of cargo comprising 134,794 tonnes of import cargo and 62,084 tonnes of export cargo including 5,270 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargo of 134
The Asian gasoil crack was flat at $14.49 a barrel, with no gasoil deals seen in the Singapore cash market for the first time in about a week. Outside the cash market, Malaysia's Petronas was heard to have sold 300,000 barrels of 10ppm gasoil for March 31
Ukraine grain stocks totalled 19.3 million tonnes as of March 1, up 22 percent from a year earlier, the State Statistics Service said on Monday. Stocks at large and medium-sized agriculture companies included 6.2 million tonnes of wheat, 1.6 million tonne
India's rapeseed output could fall 12 percent from a year ago to 5.74 million tonnes in 2014/15, the latest update from Solvent Extractors' Association of India (SEA), an industry body, showed on Monday. A lower output of the highest oil-producing crop ma
On Friday at Pakistan Mercantile Exchange (PMEX) value traded was PKR 2.268 billion as compared to PKR 1.824 billion reported on Thursday, an increase of 24 percent. The number of lots traded was 15,224. PMEX Commodity Index closed at 2,464. Major busines
Sluggish trade was witnessed on the wholesale grain market on Monday due to thin attendance of buyers, dealers said. On the seed side, Til regular small lost Rs 400 to Rs 4400, cottonseeds oilcake with bag Sindh new low type maintained week-end level at R
Britain's wheat exports slowed during January but are now running marginally above imports for the 2014/15 season (July/June), customs data showed on Friday. Exports totalled 137,378 tonnes in January, including 51,250 tonnes to Algeria, down from 224,881
The Asian naphtha crack for May on Monday was at $98.10 a tonne, the lowest in three sessions as vibrant demand for April cargoes since mid-February came to a temporary halt. "Most buyers are fully-covered for April by now. They should be looking to reple
Sustained demand for quality lint, boosted the rates on the cotton market on Monday in the process of modest trading, dealers said. The official spot rate was unchanged at Rs 5000, dealers said. In the ready session, over 4,000 bales of cotton changed han
Bearish sentiments prevailed on the forward cottonseed oilcake market on Monday in the process of trading, dealers said. The March vaida closed at Rs 1424.10 on Saturday and it commenced with 30 paisa fall at Rs 1423.80 in the morning session, they said.
Indian sugar futures dropped on Monday to their lowest level in 5-1/2 years on rising supplies, weak local demand and as mills were struggling to export raw sugar due to falling global prices. A sharp drop in the Brazilian real has thwarted India's effort
Russia's export and domestic prices for wheat fell last week on increased offers from farmers who needed funds for spring sowing after the rouble's slump, analysts said on Monday. Russia has exported 26.2 million tonnes of grain, including supplies to nei
Hot, dry weather in Ivory Coast's main cocoa-growing regions last week could delay the April to September mid-crop, though rainfall was sufficient elsewhere, farmers said on Monday. Ivory Coast, the world's top cocoa producer, is approaching the end of th
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
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
The government on Monday deployed paramilitary troops in Lahore after thousands of Christians protesting against the deadly bombing of churches clashed with police, officials said. Over a dozen people were hurt when police in riot gear fired warning shots
Independent Power Producers (IPPs) and the government have reportedly reached an agreement on Liquefied Natural Gas (LNG) deal on a firm basis, on a price to be announced by the Oil and Gas Regulatory Authority (Ogra), well informed sources told Busine
Pakistan has signed an agreement with Qatar on the import of Liquefied Natural Gas (LNG) and the first shipment of 200mmcfd is expected to reach by the end of March 2015; however, the terms of the agreement have not yet been made public. Minister of Petro
Pakistan has signed an agreement with Qatar on the import of Liquefied Natural Gas (LNG) and the first shipment of 200mmcfd is expected to reach by the end of March 2015; however, the terms of the agreement have not yet been made public. Minister of Petro
Pakistan has signed an agreement with Qatar on the import of Liquefied Natural Gas (LNG) and the first shipment of 200mmcfd is expected to reach by the end of March 2015; however, the terms of the agreement have not yet been made public. Minister of Petro
China has surpassed Germany to become the world's third largest arms exporter, a Stockholm-based think tank said in a report on Monday. Exports of major arms from the world's second largest economy grew 143 percent over the years 2010 to 2014, versus the
China has surpassed Germany to become the world's third largest arms exporter, a Stockholm-based think tank said in a report on Monday. Exports of major arms from the world's second largest economy grew 143 percent over the years 2010 to 2014, versus the
Interior Minister Chaudhry Nisar Ali Khan on Monday said that terrorists are trying to divide the nation, and those who took the law into own hands in Lahore are facilitating terrorist agenda. Speaking before the National Standing Committee on Interior an
Interior Minister Chaudhry Nisar Ali Khan on Monday said that terrorists are trying to divide the nation, and those who took the law into own hands in Lahore are facilitating terrorist agenda. Speaking before the National Standing Committee on Interior an
The government on Monday deployed paramilitary troops in Lahore after thousands of Christians protesting against the deadly bombing of churches clashed with police, officials said. Over a dozen people were hurt when police in riot gear fired warning shots