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Print - 2015-04-29
52 feared dead in Afghanistan landslide

52 feared dead in Afghanistan landslide

At least 52 people, mostly women and children, are feared dead after a landslide swept through a village in Afghanistan's remote mountainous north-east Tuesday, the latest natural disaster in the war-torn nation, officials said. The disaster, which buried
Published 29 Apr, 2015 12:00am
52 feared dead in Afghanistan landslide

52 feared dead in Afghanistan landslide

At least 52 people, mostly women and children, are feared dead after a landslide swept through a village in Afghanistan's remote mountainous north-east Tuesday, the latest natural disaster in the war-torn nation, officials said. The disaster, which buried
Published 29 Apr, 2015 12:00am
Constitutional Amendments: Supreme Court raises key question

Constitutional Amendments: Supreme Court raises key question

The Supreme Court on Tuesday adjourned the hearing of identical pleas filed against the 18th and 21st Constitutional Amendments, raising a question that on what grounds the basic structure of the Constitution could be made a reason to declare an Amendment
Published 29 Apr, 2015 12:00am
Constitutional Amendments: Supreme Court raises key question

Constitutional Amendments: Supreme Court raises key question

The Supreme Court on Tuesday adjourned the hearing of identical pleas filed against the 18th and 21st Constitutional Amendments, raising a question that on what grounds the basic structure of the Constitution could be made a reason to declare an Amendment
Published 29 Apr, 2015 12:00am
Afghan president reassures India over relationship

Afghan president reassures India over relationship

Afghan leader Ashraf Ghani on Tuesday sought to reassure his Indian counterpart Narendra Modi that Kabul was committed to its close relationship with New Delhi despite warming ties with Pakistan. Afghanistan's president arrived in India late Monday on a t
Published 29 Apr, 2015 12:00am
Afghan president reassures India over relationship

Afghan president reassures India over relationship

Afghan leader Ashraf Ghani on Tuesday sought to reassure his Indian counterpart Narendra Modi that Kabul was committed to its close relationship with New Delhi despite warming ties with Pakistan. Afghanistan's president arrived in India late Monday on a t
Published 29 Apr, 2015 12:00am
ISE index down by 31.25 points

ISE index down by 31.25 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) on Tuesday, where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 31.25 points as the ISE Ten Index moved from 3,690.52
Published 29 Apr, 2015 12:00am
ISE index down by 31.25 points

ISE index down by 31.25 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) on Tuesday, where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 31.25 points as the ISE Ten Index moved from 3,690.52
Published 29 Apr, 2015 12:00am
LSE index loses 24.93 points

LSE index loses 24.93 points

Equities on Tuesday faced losses amid an improved trading turnover on the Lahore Stock Exchange following selling pressure in blue chips. The LSE-25 index lost 24.93 points to 5658.45 against 5683.38 of Monday while the transaction volume increased to 1.7
Published 29 Apr, 2015 12:00am
LSE index loses 24.93 points

LSE index loses 24.93 points

Equities on Tuesday faced losses amid an improved trading turnover on the Lahore Stock Exchange following selling pressure in blue chips. The LSE-25 index lost 24.93 points to 5658.45 against 5683.38 of Monday while the transaction volume increased to 1.7
Published 29 Apr, 2015 12:00am
Attack on US embassy foiled: 93 jihadists arrested in Saudi Arabia

Attack on US embassy foiled: 93 jihadists arrested in Saudi Arabia

Saudi Arabia has arrested nearly 100 jihadists, mostly linked to the Islamic State group, and foiled several plots to carry out attacks including on the US embassy, authorities said Tuesday. The arrests have taken place since December and most of those de
Published 29 Apr, 2015 12:00am
Obama, Abe revitalise ties as China 'flexes muscles'

Obama, Abe revitalise ties as China 'flexes muscles'

The United States and Japan sought to reinvigorate their 70-year alliance in the face of China's growing clout Tuesday, with President Barack Obama welcoming Prime Minister Shinzo Abe to the White House. Voicing shared anxiety about China's activities in
Published 29 Apr, 2015 12:00am
Sri Lanka parliament votes to curb president's power

Sri Lanka parliament votes to curb president's power

Sri Lanka's parliament voted overwhelmingly Tuesday to curb the power of the presidency, restoring a two-term limit and reviving independent bodies to manage key institutions such as the police and the judiciary. A total of 215 out of the 225 lawmakers ap
Published 29 Apr, 2015 12:00am
Stability returning due to operation: CoAS

Stability returning due to operation: CoAS

Chief of Army Staff (CoAS) General Raheel Sharif said on Tuesday that peaceful environment in and around Pakistan was top priority. Addressing officers at Bahawalpur Cantt, General Raheel Sharif said that no challenge was insurmountable adding, "Let's tak
Published 29 Apr, 2015 12:00am
Stability returning due to operation: CoAS

Stability returning due to operation: CoAS

Chief of Army Staff (CoAS) General Raheel Sharif said on Tuesday that peaceful environment in and around Pakistan was top priority. Addressing officers at Bahawalpur Cantt, General Raheel Sharif said that no challenge was insurmountable adding, "Let's tak
Published 29 Apr, 2015 12:00am
BRIndex30 sheds 189.61 points

BRIndex30 sheds 189.61 points

On Tues-day, BRIndex30 opened at 20,354.89 points. It touched an intraday high of 20,461.07 points and an intraday low of 20,120.81 points and closed at 20,165.28 points which was -189.61 points or -0.93 percent lower than previous close. Total volume was
Published 29 Apr, 2015 12:00am
BRIndex30 sheds 189.61 points

BRIndex30 sheds 189.61 points

On Tues-day, BRIndex30 opened at 20,354.89 points. It touched an intraday high of 20,461.07 points and an intraday low of 20,120.81 points and closed at 20,165.28 points which was -189.61 points or -0.93 percent lower than previous close. Total volume was
Published 29 Apr, 2015 12:00am
Equities shed 268.36 points

Equities shed 268.36 points

Equities at the Karachi bourse lost 268.36 points or 0.79 percent to close at 33,575.94 compared to Monday''s 33,844.30. The day''s 330 million shares higher trades beat the previous session''s 263.4 million with traded value plunging to Rs 11.85 billion
Published 29 Apr, 2015 12:00am
Equities shed 268.36 points

Equities shed 268.36 points

Equities at the Karachi bourse lost 268.36 points or 0.79 percent to close at 33,575.94 compared to Monday's 33,844.30. The day's 330 million shares higher trades beat the previous session's 263.4 million with traded value plunging to Rs 11.85 billion fro
Published 29 Apr, 2015 12:00am
Equities shed 268.36 points

Equities shed 268.36 points

Equities at the Karachi bourse lost 268.36 points or 0.79 percent to close at 33,575.94 compared to Monday's 33,844.30. The day's 330 million shares higher trades beat the previous session's 263.4 million with traded value plunging to Rs 11.85 billion fro
Published 29 Apr, 2015 12:00am
Ordinance on the cards: FBR to be deprived of power to issue SROs

Ordinance on the cards: FBR to be deprived of power to issue SROs

The government is planning to promulgate a Presidential Taxes Amendment Ordinance before the FY16 budget to withdraw Federal Board of Revenue''s (FBR) powers of exempting duties/ taxes concessions through Statutory Regulatory Orders (SROs). Sources told <
Published 29 Apr, 2015 12:00am
Ordinance on the cards: FBR to be deprived of power to issue SROs

Ordinance on the cards: FBR to be deprived of power to issue SROs

The government is planning to promulgate a Presidential Taxes Amendment Ordinance before the FY16 budget to withdraw Federal Board of Revenue's (FBR) powers of exempting duties/ taxes concessions through Statutory Regulatory Orders (SROs). Sources told <i
Published 29 Apr, 2015 12:00am
Ordinance on the cards: FBR to be deprived of power to issue SROs

Ordinance on the cards: FBR to be deprived of power to issue SROs

The government is planning to promulgate a Presidential Taxes Amendment Ordinance before the FY16 budget to withdraw Federal Board of Revenue's (FBR) powers of exempting duties/ taxes concessions through Statutory Regulatory Orders (SROs). Sources told <i
Published 29 Apr, 2015 12:00am
Rs 225 billion fresh taxation measures likely

Rs 225 billion fresh taxation measures likely

The government is expected to take new taxation measures ranging between Rs 220 billion and Rs 225 billion including administrative measures worth Rs 15 billion in 2015-16 for fixation of revenue collection target in the proximity of Rs 3,000 billion to R
Published 29 Apr, 2015 12:00am
Rs 225 billion fresh taxation measures likely

Rs 225 billion fresh taxation measures likely

The government is expected to take new taxation measures ranging between Rs 220 billion and Rs 225 billion including administrative measures worth Rs 15 billion in 2015-16 for fixation of revenue collection target in the proximity of Rs 3,000 billion to R
Published 29 Apr, 2015 12:00am
Rs 225 billion fresh taxation measures likely

Rs 225 billion fresh taxation measures likely

The government is expected to take new taxation measures ranging between Rs 220 billion and Rs 225 billion including administrative measures worth Rs 15 billion in 2015-16 for fixation of revenue collection target in the proximity of Rs 3,000 billion to R
Published 29 Apr, 2015 12:00am
CDWP approves 12 projects

CDWP approves 12 projects

The CDWP meeting Tuesday approved 12 projects worth about Rs 30 billion and recommended four projects worth Rs 14 billion to Ecnec. Federal Minister for Planning, Development and Reform Prof Ahsan Iqbal chaired the meeting. Sixteen projects were discussed
Published 29 Apr, 2015 12:00am
CDWP approves 12 projects

CDWP approves 12 projects

The CDWP meeting Tuesday approved 12 projects worth about Rs 30 billion and recommended four projects worth Rs 14 billion to Ecnec. Federal Minister for Planning, Development and Reform Prof Ahsan Iqbal chaired the meeting. Sixteen projects were discussed
Published 29 Apr, 2015 12:00am
CDWP approves 12 projects

CDWP approves 12 projects

The CDWP meeting Tuesday approved 12 projects worth about Rs 30 billion and recommended four projects worth Rs 14 billion to Ecnec. Federal Minister for Planning, Development and Reform Prof Ahsan Iqbal chaired the meeting. Sixteen projects were discussed
Published 29 Apr, 2015 12:00am
Energy sector: US, Pakistan to negotiate new framework

Energy sector: US, Pakistan to negotiate new framework

Pakistan and United States are to negotiate a new framework in energy sector on Wednesday (today) with main focus on implementation of market-based reforms to facilitate and accelerate private investment in financially sound clean energy projects, well-in
Published 29 Apr, 2015 12:00am
Energy sector: US, Pakistan to negotiate new framework

Energy sector: US, Pakistan to negotiate new framework

Pakistan and United States are to negotiate a new framework in energy sector on Wednesday (today) with main focus on implementation of market-based reforms to facilitate and accelerate private investment in financially sound clean energy projects, well-in
Published 29 Apr, 2015 12:00am
Energy sector: US, Pakistan to negotiate new framework

Energy sector: US, Pakistan to negotiate new framework

Pakistan and United States are to negotiate a new framework in energy sector on Wednesday (today) with main focus on implementation of market-based reforms to facilitate and accelerate private investment in financially sound clean energy projects, well-in
Published 29 Apr, 2015 12:00am
Panasonic sees 4th year of profit gains on auto electronics growth

Panasonic sees 4th year of profit gains on auto electronics growth

Japan's Panasonic Corp said it remains on track for a fourth straight year of operating profit growth, vindicating a restructuring that has seen the electronics firm pivot toward new goods like auto parts and away from former glories like TVs.
Published 29 Apr, 2015 12:00am
Panasonic sees 4th year of profit gains on auto electronics growth

Panasonic sees 4th year of profit gains on auto electronics growth

Japan's Panasonic Corp said it remains on track for a fourth straight year of operating profit growth, vindicating a restructuring that has seen the electronics firm pivot toward new goods like auto parts and away from former glories like TVs.
Published 29 Apr, 2015 12:00am
Ally Financial's profit more than doubles on one-time gain

Ally Financial's profit more than doubles on one-time gain

Ally Financial Inc, the largest US auto lender, reported a quarterly profit that more than doubled, helped by a one-time after-tax gain of about $400 million, related to a stake sale in its joint venture with a Chinese auto lender.
Published 29 Apr, 2015 12:00am
China oil executive probed for graft

China oil executive probed for graft

China is investigating a top executive at its largest oil refiner, the anti-corruption watchdog said Monday, as a prolonged graft crackdown targets more state-owned companies. Wang Tianpu, general manager of Sinopec, is being probed for "serious law and d
Published 29 Apr, 2015 12:00am
Santander lending drive lifts first-quarter profits

Santander lending drive lifts first-quarter profits

Santander on Tuesday showed the benefits of a drive to boost lending across its main markets, which helped the bank to produce a 32 percent jump in first-quarter profits. Under new boss Ana Botin, the euro zone's biggest bank by market value is trying to
Published 29 Apr, 2015 12:00am
BP unwinding oil storage play as contango narrows

BP unwinding oil storage play as contango narrows

Oil major BP said it will gradually sell throughout 2015 more than $1.25 billion of oil it had stored earlier this year to seize on a futures market structure to boost profit. Traders including BP bought and stored oil throughout late 2014 and early 2015
Published 29 Apr, 2015 12:00am
Apple profit soars on iPhone, China sales

Apple profit soars on iPhone, China sales

Apple on Monday reported a sharp rise in its quarterly profit, lifted by robust sales of its iPhones and a jump in revenue from China. The California tech giant said profit rose 33 percent from a year ago to $13.6 billion, lifted by sales of 61 million iP
Published 29 Apr, 2015 12:00am
Apple profit soars on iPhone, China sales

Apple profit soars on iPhone, China sales

Apple on Monday reported a sharp rise in its quarterly profit, lifted by robust sales of its iPhones and a jump in revenue from China. The California tech giant said profit rose 33 percent from a year ago to $13.6 billion, lifted by sales of 61 million iP
Published 29 Apr, 2015 12:00am
'Flash crash' accused trader due back in court

'Flash crash' accused trader due back in court

Navinder Sarao, the British trader accused of helping provoke the 2010 Wall Street "flash crash", is due to appear in a London court on Wednesday after failing to raise the bail needed to secure his release from custody, a court official said.
Published 29 Apr, 2015 12:00am
Pfizer cuts full-year forecast on stronger dollar

Pfizer cuts full-year forecast on stronger dollar

US drugmaker Pfizer Inc cut its full-year revenue and profit forecast, blaming a stronger dollar. However, the drugmaker reported a better-than-expected first-quarter profit, helped by demand for its vaccines and cancer drugs.
Published 29 Apr, 2015 12:00am
Pfizer cuts full-year forecast on stronger dollar

Pfizer cuts full-year forecast on stronger dollar

US drugmaker Pfizer Inc cut its full-year revenue and profit forecast, blaming a stronger dollar. However, the drugmaker reported a better-than-expected first-quarter profit, helped by demand for its vaccines and cancer drugs.
Published 29 Apr, 2015 12:00am
BP profit bests forecasts

BP profit bests forecasts

BP reported higher than expected profit on Tuesday thanks to a jump in earnings from refining while the oil company's cash flow slumped after crude oil prices halved. The British oil giant responded to the sharp drop in oil prices in recent months with a
Published 29 Apr, 2015 12:00am
Putin says Russian economy not in crisis

Putin says Russian economy not in crisis

Russian President Vladimir Putin said Tuesday the country's economy was not in crisis and that the worst was over, as the central bank is set to meet this week to decide whether to lower the interest rate following the ruble's rebound. "We have passed thr
Published 29 Apr, 2015 12:00am
Japan's retail sales fall most in 17 years, keep BoJ pressured

Japan's retail sales fall most in 17 years, keep BoJ pressured

Japanese retail sales in March declined at their fastest annual pace in 17 years as consumer spending struggled to pick up a year after a sales-tax increase, keeping alive speculation the Bank of Japan will expand stimulus again later this year. Retail sa
Published 29 Apr, 2015 12:00am
Barclays closes out pro-dollar FX bet

Barclays closes out pro-dollar FX bet

Barclays was the latest major bank to soften its stance on the dollar on Tuesday, forced to close out its rolling recommendation to buy the greenback against the euro after the past month's improvement for the single currency.
Published 29 Apr, 2015 12:00am
French consumer confidence at highest in five years

French consumer confidence at highest in five years

French consumer confidence rose for the third consecutive month in April to reach its highest in over five years, data showed on Tuesday, although nagging concerns about unemployment meant it was still below the long-term average. The index released by th
Published 29 Apr, 2015 12:00am
US homeownership dips, but household formation rises

US homeownership dips, but household formation rises

US homeownership slipped to a 25-year low in the first quarter, but sustained strong gains in the pace at which Americans are setting up homes supported the view that the housing sector will boost economic growth this year.
Published 29 Apr, 2015 12:00am
Qatar opens $1 billion environmental gas project

Qatar opens $1 billion environmental gas project

Qatar officially unveiled on Tuesday what it said is the world's biggest environmental project, a $1 billion plant to capture wasted gas. The Jetty Boil-Off Gas Recovery Project (JBOG) would capture enough gas to power 175,000 cars per year or 300,000 hom
Published 29 Apr, 2015 12:00am
UAE telecoms operator du misses profit expectations

UAE telecoms operator du misses profit expectations

Du, the United Arab Emirates' No.2 telecom operator, reported a 0.6 percent fall in first-quarter profit on Tuesday, missing analysts' estimates as its mobile subscriber base shrunk slightly and it paid a higher tax rate than a year earlier. The company,
Published 29 Apr, 2015 12:00am
UAE telecoms operator du misses profit expectations

UAE telecoms operator du misses profit expectations

Du, the United Arab Emirates' No.2 telecom operator, reported a 0.6 percent fall in first-quarter profit on Tuesday, missing analysts' estimates as its mobile subscriber base shrunk slightly and it paid a higher tax rate than a year earlier. The company,
Published 29 Apr, 2015 12:00am
Sweden's Assa Abloy posts first quarter profit rise led by US demand

Sweden's Assa Abloy posts first quarter profit rise led by US demand

Sweden's Assa Abloy, the world's biggest lockmaker, reported a 25 percent rise in operating profit for the first quarter helped by strong sales growth in the United States and an expanding portfolio of high-tech products. America showed positive economic
Published 29 Apr, 2015 12:00am
Singapore bank says core inflation to moderate in Q2-Q3 before rising

Singapore bank says core inflation to moderate in Q2-Q3 before rising

Singapore's core inflation may moderate in the second and third quarters and headline inflation could be negative for "some consecutive months", the central bank said on Tuesday. Inflation was expected to return next year as oil prices pick up, it said.
Published 29 Apr, 2015 12:00am
Paper maker UPM misses first-quarter profit expectations

Paper maker UPM misses first-quarter profit expectations

Finland's UPM-Kymmene, the world's largest maker of graphic papers such as magazine paper and newsprint, missed quarterly core profit expectations due to weakk paper deliveries and prices The company said on Tuesday its profit was boosted by cost cuts and
Published 29 Apr, 2015 12:00am
Paper maker UPM misses first-quarter profit expectations

Paper maker UPM misses first-quarter profit expectations

Finland's UPM-Kymmene, the world's largest maker of graphic papers such as magazine paper and newsprint, missed quarterly core profit expectations due to weakk paper deliveries and prices The company said on Tuesday its profit was boosted by cost cuts and
Published 29 Apr, 2015 12:00am
EU solar producers launch new action against Chinese rivals

EU solar producers launch new action against Chinese rivals

A group of European solar panel producers has lodged a new complaint with EU regulators, accusing Chinese rivals of trying to evade import tariffs by shipping their products via third countries. The European Commission set in place in 2013 an arrangement
Published 29 Apr, 2015 12:00am
Czech central bank chief says wages lagging but no drama in economy

Czech central bank chief says wages lagging but no drama in economy

The Czech central bank sees anti-inflationary pressure from wages but there is no need for urgent debate on altering the set of policy instruments it uses as the economic recovery is well underway, central bank Governor Miroslav Singer said. Singer told R
Published 29 Apr, 2015 12:00am
Philips results weighed down by profit drop in healthcare equipment

Philips results weighed down by profit drop in healthcare equipment

Philips has reported first-quarter earnings showing continued weakness in the healthcare equipment operations that are increasingly vital for the Dutch group as it prepares to spin off its lighting operations. The maker of consumer goods like shavers, too
Published 29 Apr, 2015 12:00am
Philips results weighed down by profit drop in healthcare equipment

Philips results weighed down by profit drop in healthcare equipment

Philips has reported first-quarter earnings showing continued weakness in the healthcare equipment operations that are increasingly vital for the Dutch group as it prepares to spin off its lighting operations. The maker of consumer goods like shavers, too
Published 29 Apr, 2015 12:00am
Boston Scientific cuts full-year forecast as legal costs weigh

Boston Scientific cuts full-year forecast as legal costs weigh

Medical device maker Boston Scientific Corp cut its full-year revenue and profit forecasts as it continues to bear the brunt of charges from a number of lawsuits. Shares of the company, which also reported a quarterly net loss due to litigation costs, fel
Published 29 Apr, 2015 12:00am
Costa Coffee owner ramps up expansion plans as CEO departs

Costa Coffee owner ramps up expansion plans as CEO departs

The boss of Costa Coffee and Premier Inn hotels operator Whitbread on Tuesday announced plans to leave by February next year, as the company posted another surge in profits and stepped up its expansion targets. Whitbread's stock market value has grown fro
Published 29 Apr, 2015 12:00am
JetBlue 1st-quarter profit tops forecasts

JetBlue 1st-quarter profit tops forecasts

JetBlue Airways Corp's first-quarter profit soared as strong US domestic demand, lower fuel prices and cost controls helped its bottom line, the company reported Tuesday. The low-cost carrier earned $137 million, or 40 cents per share, versus $4 million,
Published 29 Apr, 2015 12:00am
JetBlue 1st-quarter profit tops forecasts

JetBlue 1st-quarter profit tops forecasts

JetBlue Airways Corp's first-quarter profit soared as strong US domestic demand, lower fuel prices and cost controls helped its bottom line, the company reported Tuesday. The low-cost carrier earned $137 million, or 40 cents per share, versus $4 million,
Published 29 Apr, 2015 12:00am
Coach faces tough turnaround as North America sales worsen

Coach faces tough turnaround as North America sales worsen

Coach Inc reported its worst decline in sales in seven quarters in North America, raising concerns that the handbag and accessories maker's turnaround efforts were failing to gain traction in a highly competitive market. Shares of the company, which also
Published 29 Apr, 2015 12:00am
Coach faces tough turnaround as North America sales worsen

Coach faces tough turnaround as North America sales worsen

Coach Inc reported its worst decline in sales in seven quarters in North America, raising concerns that the handbag and accessories maker's turnaround efforts were failing to gain traction in a highly competitive market. Shares of the company, which also
Published 29 Apr, 2015 12:00am
Orange confirms 2015 targets despite weak first-quarter profit

Orange confirms 2015 targets despite weak first-quarter profit

France's largest telecom company, Orange SA, posted slightly lower than expected first quarter core profits after growth in mobile and Internet subscribers and cost cuts failed to offset price declines and higher spending on networks. Orange said sales ca
Published 29 Apr, 2015 12:00am
Orange confirms 2015 targets despite weak first-quarter profit

Orange confirms 2015 targets despite weak first-quarter profit

France's largest telecom company, Orange SA, posted slightly lower than expected first quarter core profits after growth in mobile and Internet subscribers and cost cuts failed to offset price declines and higher spending on networks. Orange said sales ca
Published 29 Apr, 2015 12:00am
Hedge fund Elliott not seeking board seat at DMG Mori Seiki AG

Hedge fund Elliott not seeking board seat at DMG Mori Seiki AG

Hedge fund Elliott, which holds a 15 percent stake in German machine-tool maker DMG Mori Seiki AG, is not seeking a seat on the supervisory board, DMG said on Tuesday, contrasting with the activist fund's strategy for some of its other investments. Howeve
Published 29 Apr, 2015 12:00am
Hedge fund Elliott not seeking board seat at DMG Mori Seiki AG

Hedge fund Elliott not seeking board seat at DMG Mori Seiki AG

Hedge fund Elliott, which holds a 15 percent stake in German machine-tool maker DMG Mori Seiki AG, is not seeking a seat on the supervisory board, DMG said on Tuesday, contrasting with the activist fund's strategy for some of its other investments. Howeve
Published 29 Apr, 2015 12:00am
Mexico central bank passes $2 billion in reserve gains to government

Mexico central bank passes $2 billion in reserve gains to government

Mexico's finance ministry said on Tuesday it will use a financial gain from the central bank's record reserves to fund infrastructure spending in 2016, compensating for a hit to public finances from a sharp drop in oil prices. The central bank gave the fi
Published 29 Apr, 2015 12:00am
Malaysia's flagship economic programme records rise in investments

Malaysia's flagship economic programme records rise in investments

Malaysia said on Tuesday private investments in its flagship economic development programme rose at a steady 11 percent in 2014, with the country half way to becoming a high-income nation by 2020. Investment commitments in the private sector rose to 146.1
Published 29 Apr, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Monday at Pakistan Mercantile Exchange (PMEX) value traded was PKR 3.56 billion as compared to PKR 1.96 billion reported on Friday, an increase of 81 percent. The number of lots traded also increased by 69 percent to 20,184 from 11,976. PMEX Commodity
Published 29 Apr, 2015 12:00am
Canadian canola futures mixed

Canadian canola futures mixed

ICE Canadian canola futures ended mixed on Monday, with the most-active month slipping under pressure from a strong Canadian dollar. Nearby May contract ended higher, and a trader said that was an odd development given large commercial stocks. The contrac
Published 29 Apr, 2015 12:00am
Guwar prices rise on grain market

Guwar prices rise on grain market

Guwar prices were sharply higher on the wholesale grain market on Tuesday in the process of moderate trading, dealers said. On the cereals side, Guwar Sindh gained Rs 400 to Rs 6100-6200, Guwar Punjab low type gained Rs 500 to Rs 5700 and the superior qua
Published 29 Apr, 2015 12:00am
Karachi Port's activities

Karachi Port's activities

The Karachi Port handled 111,221 tonnes of cargo comprising 92,458 tonnes of import cargo and 18,763 tonnes of export cargo including 4,310 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargo of 92,
Published 29 Apr, 2015 12:00am
CBOT wheat futures fall to 6-1/2-month lows

CBOT wheat futures fall to 6-1/2-month lows

Wheat futures on the Chicago Board of Trade fell to 6-1/2-month lows Monday on strong global export competition, improving crop conditions in the Northern Hemisphere and technical selling, traders said. Technical selling accelerated as spot CBOT wheat dro
Published 29 Apr, 2015 12:00am
Russian wheat prices fall as buyers bet on export tax removal

Russian wheat prices fall as buyers bet on export tax removal

Russian wheat prices continued to decline last week on expectations that Moscow will remove its wheat export tax from July 1 and on high supplies as farmers sold from stocks to free up storage ahead of the new season, analysts said. The government plans t
Published 29 Apr, 2015 12:00am
Indian oilseeds, soyaoil futures fall on profit taking

Indian oilseeds, soyaoil futures fall on profit taking

Indian oilseeds and soyaoil futures fell on Tuesday on profit taking, while weak cues from Malaysian palm oil futures also weighed on sentiment. Malaysian palm oil futures slid to an eight-month low as the ringgit continued to gain traction, stoking worri
Published 29 Apr, 2015 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was lower and the July vaida was unchanged on the forward cottonseed oilcake market on Tuesday in the process of trading, dealers said. The May vaida closed at Rs 1751.30 on Monday and it commenced with 30 paisa decline at Rs 1751.00 in the
Published 29 Apr, 2015 12:00am
Cotton market: prices soar on strong demand

Cotton market: prices soar on strong demand

An upward trend prevailed on the cotton market on Tuesday as mills and spinners showed interest in forward buying to cover their need, dealers said. The official spot rate was higher by Rs 50 to Rs 5350, dealers said. Over, 5,000 bales of cotton sold betw
Published 29 Apr, 2015 12:00am
Egypt's bourse hits four-month low on tax woes

Egypt's bourse hits four-month low on tax woes

Egypt's bourse fell to a four-month low on Tuesday because of the introduction of taxes on capital gains and dividends this month, while most Gulf stock markets barely moved, awaiting news on US oil inventories and interest rates. The Cairo index slid 1.9
Published 29 Apr, 2015 12:00am
Tokyo stocks up

Tokyo stocks up

Tokyo stocks ended 0.38 percent higher Tuesday, boosted by a surge in factory robotics giant Fanuc, while investors await earnings by major Japanese firms and a US Federal Reserve policy meeting. The Nikkei 225 index at the Tokyo Stock Exchange added 75.6
Published 29 Apr, 2015 12:00am
Tuesday's early afternoon trade: stocks move higher

Tuesday's early afternoon trade: stocks move higher

US stocks held on to their gains in early afternoon trading on Tuesday, reversing earlier declines, on strong earnings from Merck, better-than-expected housing data and a dividend hike from IBM. The markets swung between gains and losses in early trading,
Published 29 Apr, 2015 12:00am
Wall Street ends down; Apple up late

Wall Street ends down; Apple up late

US stocks ended down on Monday, led by losses in biotech shares after disappointing news from several companies including Amgen. The Nasdaq Biotech Index sank 4.1 percent, its biggest daily percentage loss since March 25, while the S&P Healthcare index, d
Published 29 Apr, 2015 12:00am
US bonds prices flat

US bonds prices flat

US Treasuries prices were little changed on Monday as news suggesting progress for Greece to strike a deal with its lenders was offset by expectations the Federal Reserve will signal its intention to keep interest rates near zero. The US bond market has b
Published 29 Apr, 2015 12:00am
US bonds prices flat

US bonds prices flat

US Treasuries prices were little changed on Monday as news suggesting progress for Greece to strike a deal with its lenders was offset by expectations the Federal Reserve will signal its intention to keep interest rates near zero. The US bond market has b
Published 29 Apr, 2015 12:00am
Australian shares fall

Australian shares fall

Australian shares fell on Tuesday as investors shrugged off a rebound in iron ore prices and booked gains after a recent winning streak. The S&P/ASX 200 index fell 0.6 percent or 34.2 points to 5948.5 by the close of trade. The benchmark hit a seven-year
Published 29 Apr, 2015 12:00am
Hong Kong shares flat

Hong Kong shares flat

Hong Kong stocks ended flat on Tuesday as strength in financial shares was offset by a slump in oil giants PetroChina and Sinopec Corp. Shares of the oil companies had surged in the previous session on speculation they would merge, but PetroChina slumped
Published 29 Apr, 2015 12:00am
China stocks ease off seven-year highs

China stocks ease off seven-year highs

China stocks ended lower on Tuesday, easing off a new seven-year high, as a tumble in start-up board ChiNext soured investor sentiment despite strength in banking stocks. ChiNext, which trade at nearly 100 times companies' earnings, slumped 3 percent, the
Published 29 Apr, 2015 12:00am
European shares slide as Atlas Copco and Commerzbank fall

European shares slide as Atlas Copco and Commerzbank fall

European stock markets dropped on Tuesday after some weaker-than-expected corporate updates, with mining equipment group Atlas Copco and Commerzbank among the hardest hit. European equities were also impacted by weak US consumer confidence data while Iran
Published 29 Apr, 2015 12:00am
Sri Lankan shares at seven-week high

Sri Lankan shares at seven-week high

Sri Lankan shares edged up to their highest close in seven weeks on Tuesday led by diversified shares, but volume was light as investors awaited cues from the political front ahead of a parliamentary vote on proposed constitutional reforms. The main stock
Published 29 Apr, 2015 12:00am
Southeast Asian stocks fall amid outflows

Southeast Asian stocks fall amid outflows

Southeast Asian stock markets pulled lower on Tuesday amid foreign outflows ahead of the Federal Reserve's policy meeting, with the Thai benchmark hitting its lowest in more than four weeks as investors awaited an interest rate decision. Bangkok's SET ind
Published 29 Apr, 2015 12:00am
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