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Print - 2015-05-05
Message from Chairman National Disaster Management Authority, Pakistan

Message from Chairman National Disaster Management Authority, Pakistan

Today as we commemorate the International Firefighters' Day. We also acknowledge the dedication, heroism and importance of firefighters of our own Country. This Day on one hand reminds us of the horrible effects of fire incidents and on the other highligh
Published 05 May, 2015 12:00am
Message from Chief Minister of Punjab

Message from Chief Minister of Punjab

On International Firefighters' Day I would like to congratulate the firefighters of Rescue 1122 for their achievements and dedication. Rescue 1122 has always been on the forefront in saving precious lives of their countrymen. Today, people of Pakistan tru
Published 05 May, 2015 12:00am
Message from Prime Minister of Pakistan

Message from Prime Minister of Pakistan

The world community today applauds the spirit to courage that the firefighters show while performing their call of duty. These firefighters dedicate their lives for protecting others. We recognise their commitment and appreciate the firefighters who conti
Published 05 May, 2015 12:00am
Heat saps Australian workers' productivity

Heat saps Australian workers' productivity

Worker productivity lost due to heat stress cost Australia some US $6.2 billion (5.6 billion euros) in 2013/14, said a study Monday that warned of worse to come as the planet warms. Three-quarters of respondents to a productivity questionnaire said they w
Published 05 May, 2015 12:00am
Bank of America plans vote on change allowing CEO to be chairman

Bank of America plans vote on change allowing CEO to be chairman

Bank of America Corp plans to hold a shareholder vote on the change the board made in October to company bylaws to allow Chief Executive Officer Brian Moynihan to also be chairman. The vote, to be held no later than 2016, is in response to comments from s
Published 05 May, 2015 12:00am
Comcast profit beats estimates

Comcast profit beats estimates

Comcast Corp, the largest US cable operator, posted better-than-expected first-quarter profit, driven by strong growth in its high-speed Internet and business services. Comcast''s shares were up about 2 percent in pre-market trading on Monday morning afte
Published 05 May, 2015 12:00am
Comcast profit beats estimates

Comcast profit beats estimates

Comcast Corp, the largest US cable operator, posted better-than-expected first-quarter profit, driven by strong growth in its high-speed Internet and business services. Comcast's shares were up about 2 percent in pre-market trading on Monday morning after
Published 05 May, 2015 12:00am
Comcast profit beats estimates

Comcast profit beats estimates

Comcast Corp, the largest US cable operator, posted better-than-expected first-quarter profit, driven by strong growth in its high-speed Internet and business services. Comcast's shares were up about 2 percent in pre-market trading on Monday morning after
Published 05 May, 2015 12:00am
Greece wants funds as talks progress

Greece wants funds as talks progress

Greece called Monday for its creditors to give it a bit of financial breathing room thanks to renewed progress in talks, warning there was no money left to keep paying off its debt and run the government. "The progress made should act as a passport for ea
Published 05 May, 2015 12:00am
US factory orders rebound solidly, but trend still soft

US factory orders rebound solidly, but trend still soft

New orders for US factory goods recorded their biggest increase in eight months in March, boosted by demand for transportation equipment, but the underlying trend remained weak against the backdrop of a strong dollar. The report on Monday from the Commerc
Published 05 May, 2015 12:00am
South Korea current account surplus widens

South Korea current account surplus widens

South Korea's current account surplus rose to $10.4 billion in March as slumping oil prices slashed the country's import bill, new data showed Monday. The current account - the broadest measure of foreign trade in goods and services - has been in the blac
Published 05 May, 2015 12:00am
India's Bharti, Future to combine retail operations

India's Bharti, Future to combine retail operations

Indian billionaire Sunil Mittal's Bharti Retail will merge with rival Future Retail to create one of India's biggest chains with more than 570 stores across the country, the companies said Monday. Two companies will be formed under the structure of the de
Published 05 May, 2015 12:00am
Dow Chemical to cut up to 1,750 jobs

Dow Chemical to cut up to 1,750 jobs

Dow Chemical Co said it would cut 1,500 to 1,750 jobs, or as much as 3 percent of its global workforce, as part of a broader plan to reduce costs by $1 billion over three years. Dow said the job cuts were being made as a result of its decision to sell a c
Published 05 May, 2015 12:00am
Eurozone sentiment deteriorates slightly in May

Eurozone sentiment deteriorates slightly in May

Sentiment in the eurozone weakened slightly in May but analysts and investors were more upbeat about the current situation than at any point since mid-2011, a survey showed on Monday, suggesting they are generally brushing off the Greek crisis. Sentix res
Published 05 May, 2015 12:00am
China's manufacturing index at one-year low: HSBC

China's manufacturing index at one-year low: HSBC

China's manufacturing activity recorded its worst contraction in a year in April, a survey by HSBC showed Monday, as subdued domestic demand weighed on growth in the world's second-largest economy. The British bank's final purchasing managers' index (PMI)
Published 05 May, 2015 12:00am
Foreign workers keep Austrian jobless rate high

Foreign workers keep Austrian jobless rate high

An influx of foreign, European workers helped keep the Austrian jobless rate high in April despite record employment, the government said on Monday as it reported another year-on-year gain in people out of work. Labour Minister Rudolf Hundstorfer noted th
Published 05 May, 2015 12:00am
Saudi bourse issues rules ahead of foreign opening

Saudi bourse issues rules ahead of foreign opening

Small-time players need not apply when the Saudi Arabian stock market opens to foreign investment on June 15, according to regulations released on Monday. The Capital Market Authority (CMA) said institutional investors must have a minimum of 18.75 billion
Published 05 May, 2015 12:00am
Saudi bourse issues rules ahead of foreign opening

Saudi bourse issues rules ahead of foreign opening

Small-time players need not apply when the Saudi Arabian stock market opens to foreign investment on June 15, according to regulations released on Monday. The Capital Market Authority (CMA) said institutional investors must have a minimum of 18.75 billion
Published 05 May, 2015 12:00am
Singapore's April factory activity at 2-year low

Singapore's April factory activity at 2-year low

Activity in Singapore's manufacturers touched its lowest in more than two years in April, contracting for a fifth straight month, with the electronics sector hit and new orders declining, a survey showed on Monday.
Published 05 May, 2015 12:00am
HSBC's HQ rethink: taxes and China relationship hold key to decision

HSBC's HQ rethink: taxes and China relationship hold key to decision

In 1990, an assessment called Project Rainbow paved the way for HSBC to move from Hong Kong to Britain. As Europe's biggest bank now considers moving back, the same exercise offers clues to its final decision, say industry sources and analysts.
Published 05 May, 2015 12:00am
Asian naphtha crack fall as supplies rise

Asian naphtha crack fall as supplies rise

Asia's naphtha crack for second-half June at $90.25 a tonne on Monday was the lowest seen for a front-month value since April 22 as supplies rose while demand was seen slower due to upcoming cracker maintenance in North Asia.
Published 05 May, 2015 12:00am
Russian wheat price to rise

Russian wheat price to rise

Russian wheat prices may rise in the coming weeks when the government removes an export tax, set earlier this year to cool food inflation, SovEcon agriculture analysts said on Thursday. Russia will take a decision by mid-May on removing the tax ahead of s
Published 05 May, 2015 12:00am
Big China corn premiums may tempt buyers to step up imports

Big China corn premiums may tempt buyers to step up imports

Tumbling global corn prices have raised the prospect of a pickup in imports by China, the world's second-largest consumer, as a widening discount to high domestic prices makes full-duty imports more economic. An increase in imports by China would be a fil
Published 05 May, 2015 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was higher and the July contract was unchanged on the forward cottonseed oilcake market on Monday in the process of trading, dealers said. The May vaida closed at Rs 1750.80 on Saturday and it commenced with a 40 paisa rise in the morning se
Published 05 May, 2015 12:00am
Cotton market: Listless trade as ginners show not much interest

Cotton market: Listless trade as ginners show not much interest

Not a single deal finalised on the cotton market on Monday as the ginners showed no interest in selling due to little stock of lint cotton with them, some dealers said. The official spot rate was unchanged at Rs 5350, dealers said. The prices of seed cott
Published 05 May, 2015 12:00am
Canadian canola futures higher

Canadian canola futures higher

ICE Canadian canola futures edged higher on Friday supported by weakness in the Canadian dollar. Most-active July canola added 70 cents at $447.20 per tonne in thin trading. The contract lost 1 percent for the week. The new-crop November canola rise $1.30
Published 05 May, 2015 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

Cash basis bids for hard red winter wheat held mostly steady in the southern US Plains on Monday as futures hovered near recent contract lows, keeping farmer and commercial offerings to a minimum, grain merchants said. Bids eased by 6 cents per bushel in
Published 05 May, 2015 12:00am
US Midwest corn, soya bids steady

US Midwest corn, soya bids steady

Spot basis bids for corn and soyabeans held mostly steady around the US Midwest on Monday, supported by a slow pace of sales as many farmers were busy with spring plantings, dealers said. Cash prices for soyabeans were approaching the target of $10 per bu
Published 05 May, 2015 12:00am
Grams prices up on grain market

Grams prices up on grain market

Grams prices were sharply higher on the local wholesale grain market on Monday in the process of trading, dealers said. On the cereals side, Urad Burma went up by Rs 1000 to Rs 13500 due to strong demand, other items maintained week-end levels, they said.
Published 05 May, 2015 12:00am
Canadian wheat, canola stocks fall

Canadian wheat, canola stocks fall

Canadian supplies of major crops, including wheat and canola, have dwindled year over year due to smaller harvests and smoother transport, but spring stocks still look relatively large, according to a Reuters survey of 12 traders and analysts.
Published 05 May, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Friday at Pakistan Mercantile Exchange (PMEX) value traded was PKR 1.526 billion. The number of lots traded was 7,541. PMEX Commodity Index closed at 2,638. Major business was contributed by crude oil amounting to PKR 904 million followed by gold (PKR
Published 05 May, 2015 12:00am
China to offer 3.4 million tonnes of corn at weekly sale

China to offer 3.4 million tonnes of corn at weekly sale

China will offer 3.4 million tonnes of corn from state reserves this week, up nine-fold from the previous week, with the excess of nearly 3 million tonnes coming from its four north-eastern provinces, according to an official website.(www.grainmarket.com.
Published 05 May, 2015 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 221,591 tonnes of cargo comprising 188,138 tonnes of import cargo and 33,453 tonnes of export cargo including 3,085 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargo of 188
Published 05 May, 2015 12:00am
Taiwanese importer buys 65,000 tonnes of corn

Taiwanese importer buys 65,000 tonnes of corn

Taiwanese buyer the Great Wall Group has issued a tender to purchase between 50,000 to 65,000 tonnes of corn to be sourced from the United States, Brazil or Argentina, European traders said on Monday. The tender closes on Tuesday, May 5, they said. The co
Published 05 May, 2015 12:00am
Kazakh grain exports fall

Kazakh grain exports fall

Kazakhstan's grain exports fell to 5.367 million tonnes from the start of the marketing year on July 1 to April 30, from 7.554 million in the same period of the previous crop season, agriculture ministry data showed on Monday. Central Asia's biggest grain
Published 05 May, 2015 12:00am
German Bund yields rise as deflation fears ease

German Bund yields rise as deflation fears ease

Benchmark German Bund yields rose above 0.40 percent on Monday to levels last seen before the European Central Bank began buying bonds, reflecting reduced concerns about deflation following improving economic data. A surprise pick-up in German inflation a
Published 05 May, 2015 12:00am
German Bund yields rise as deflation fears ease

German Bund yields rise as deflation fears ease

Benchmark German Bund yields rose above 0.40 percent on Monday to levels last seen before the European Central Bank began buying bonds, reflecting reduced concerns about deflation following improving economic data. A surprise pick-up in German inflation a
Published 05 May, 2015 12:00am
Hong Kong shares flat

Hong Kong shares flat

Hong Kong shares ended almost flat on Monday, as data shows that China's factories suffered their fastest drop in activity for a year as new orders fell. The China HSBC PMI index dropped to 48.9 in April - the lowest level since April 2014 - from 49.6 in
Published 05 May, 2015 12:00am
China shares end up

China shares end up

China stocks rose on Monday, with construction and utility stocks taking the lead, as poor Chinese factory activity reinforced expectations of fresh government stimulus. The China HSBC PMI index dropped to 48.9 in April, showing that the country's factori
Published 05 May, 2015 12:00am
Monday's midday trade: Wall Street soars as healthcare rebound continues

Monday's midday trade: Wall Street soars as healthcare rebound continues

Wall Street was up on Monday morning as healthcare stocks rose for a second straight session and new orders for US factory goods recorded their biggest increase in eight months in March. Eight of the 10 S&P sectors were higher, with the health index gaini
Published 05 May, 2015 12:00am
Oil buoys Saudi Arabia's bourse; Egypt up

Oil buoys Saudi Arabia's bourse; Egypt up

Saudi Arabia's bourse edged up on Monday after oil prices hit a new 2015 high, while profit-taking continued in the United Arab Emirates. Egypt's market rose after the central bank sold some foreign currency to address shortages faced by importers. Brent
Published 05 May, 2015 12:00am
UK, Japanese markets closed

UK, Japanese markets closed

The stocks, financial and commodity markets in London were closed on Monday for a bank holiday, while Tokyo was closed for a public holiday, along with financial markets in Thailand and Malaysia.
Published 05 May, 2015 12:00am
South African stocks creep up

South African stocks creep up

South African shares crept up on Monday, led by resources stocks as investors bet China would come up with measures to boost the world's largest consumer of commodities following weak manufacturing data. China's factories suffered their fastest drop in ac
Published 05 May, 2015 12:00am
South East Asian stocks mixed

South East Asian stocks mixed

Southeast Asian stock markets traded mixed on Monday with stocks in Indonesia and Philippines rebounding after a recent bout of weakness. The Indonesian stock index closed up 1.1 percent, rebounding from a 7 percent decline in seven sessions. The market w
Published 05 May, 2015 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks rose slightly on Monday but gains were capped by a weak reading in manufacturing activity at home. As of 0220 GMT, the main TAIEX index rose 0.2 percent to 9,834.80, after closing down 0.3 percent on Thursday. Taiwan's financial markets were
Published 05 May, 2015 12:00am
Australian shares rise

Australian shares rise

Australian shares sea-sawed before finishing higher on Monday as hopes of a rate cut on Tuesday eclipsed concerns about the bank sector earnings after the No.2 lender posted a disappointing interim result. Westpac Banking Corp missed forecasts with a flat
Published 05 May, 2015 12:00am
Indian shares rise nearly 2 percent

Indian shares rise nearly 2 percent

Indian shares closed nearly 2 percent higher on Monday, with the NSE index posting its biggest daily gain in more than two months, as investors snapped up beaten down bluechips after India's lower house of parliament approved the 2015/16 Finance Bill on T
Published 05 May, 2015 12:00am
Biotechs seek cross-over to public markets

Biotechs seek cross-over to public markets

Early-stage biotech companies continue to find a favourable bid in both the private and public markets. Continuing the trend of late-stage crossover rounds, Adaptimmune Therapeutics and aTyr Pharma are looking to follow up recent private institutional int
Published 05 May, 2015 12:00am
European shares buoyed by German data, M&A speculation

European shares buoyed by German data, M&A speculation

European shares advanced in thin trade on Monday, boosted by better-than-expected German manufacturing data and merger and acquisition speculation about chemicals companies. Trading volume was lighter than usual on most indexes because of a public holiday
Published 05 May, 2015 12:00am
Aussie and New Zealand dollar retreat

Aussie and New Zealand dollar retreat

The Australian and New Zealand dollars fell on Monday amid intense speculation the Reserve Bank of Australia (RBA) will resume cutting interest rates this week, while a survey of Chinese manufacturing showed more evidence of economic slowdown. The Austral
Published 05 May, 2015 12:00am
Dollar off lows; Aussie on defensive in Asia

Dollar off lows; Aussie on defensive in Asia

The Australian dollar slipped on Monday, dented by speculation the Reserve Bank of Australia may cut interest rates on Tuesday, while the US dollar held steady in a respite from its recent selloff. The Australian dollar briefly added to its losses after a
Published 05 May, 2015 12:00am
Early trade in New York: dollar rises, Swedish crown jumps

Early trade in New York: dollar rises, Swedish crown jumps

The dollar edged higher on Monday in thin trading after a two-week drop tied to data suggesting the US economy might be stabilising following a soft patch in the first quarter. The greenback moved in tight ranges against major currencies as trading was th
Published 05 May, 2015 12:00am
Dollar rebound continues; sterling hedging cost soars in Europe

Dollar rebound continues; sterling hedging cost soars in Europe

The dollar rose for a second day on Monday, building on a modest comeback from a two-week decline on the back of data suggesting that the US economy might be stabilising following a recent soft patch. Just three days before Britons vote in the closest-fou
Published 05 May, 2015 12:00am
Bangladesh's interbank forex and interest rates

Bangladesh's interbank forex and interest rates

Inter-bank buy/sell rates for the taka against the dollar on Monday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 06.50-8.00 percent (* Previous 06.50-08.00 percent). (* revised).
Published 05 May, 2015 12:00am
Booming Saudi fund sector offers foreigners access to IPOs

Booming Saudi fund sector offers foreigners access to IPOs

A regulatory drive to reduce the volatility around initial public offers of shares is bolstering the Saudi funds sector and also creating an opportunity for international investors to side-step the kingdom's foreign ownership restrictions. With Saudi Arab
Published 05 May, 2015 12:00am
Booming Saudi fund sector offers foreigners access to IPOs

Booming Saudi fund sector offers foreigners access to IPOs

A regulatory drive to reduce the volatility around initial public offers of shares is bolstering the Saudi funds sector and also creating an opportunity for international investors to side-step the kingdom's foreign ownership restrictions. With Saudi Arab
Published 05 May, 2015 12:00am
South Africa's rand flat

South Africa's rand flat

South Africa's rand was flat against the dollar on Monday, remaining in touching distance of its weakest level in a week as sentiment towards emerging markets ebbed. By 1520 GMT the rand inched 0.02 percent weaker to 12.0575 per dollar, as poor local econ
Published 05 May, 2015 12:00am
Asian forex Most emerging Asian currencies fall

Asian forex Most emerging Asian currencies fall

Most emerging Asian currencies fell on Monday hurt by a rebound in the dollar ahead of key US jobs data and as China's factory activity suffered their fastest drop in a year in April. More evidence of a slowdown in the world's second-largest economy will
Published 05 May, 2015 12:00am
Yuan falls after weak factory sector survey

Yuan falls after weak factory sector survey

China's yuan edged down against the dollar on Monday after a private survey showed activity at the country's factories shrank at the fastest rate in a year. The HSBC/Markit Purchasing Managers' Index (PMI) fell to 48.9 in April - the lowest level since Ap
Published 05 May, 2015 12:00am
Boycott warns against new England role for Strauss

Boycott warns against new England role for Strauss

England great Geoffrey Boycott said he feared "everything will stay the same" were Andrew Strauss put in charge of reviving the country's cricket fortunes, as speculation continued about a role in the national set-up for former Australia paceman Jason Gil
Published 05 May, 2015 12:00am
US and Jamaica show off strength at World Relays

US and Jamaica show off strength at World Relays

The United States and Jamaica showed off their amazing strength in track depth by dominating the second and final day of the IAAF World Relays on Sunday. Although in-form sprinter Justin Gatlin failed in his bid for a second gold, the Americans won four o
Published 05 May, 2015 12:00am
Wozniacki, Radwanska safely into Madrid third round

Wozniacki, Radwanska safely into Madrid third round

Caroline Wozniacki set up a third round meeting with Agnieszka Radwanska at the Madrid Open on Monday as her promising start to the clay court season continued with a 7-5, 6-0 win over American qualifier Christina McHale. The world number five reached the
Published 05 May, 2015 12:00am
Algerian clubs create CAF League history

Algerian clubs create CAF League history

Algeria became the first country to have three clubs in the CAF Champions League group stage when Entente Setif, USM Alger and Mouloudia El Eulma won last-16 ties. Title-holders Setif and Eulma won penalty shootouts against Moroccans Raja Casablanca and T
Published 05 May, 2015 12:00am
Battling West Indies win third Test to level series

Battling West Indies win third Test to level series

West Indies defied the odds and a wearing pitch to complete a series-levelling five-wicket victory over England on the third day of the third and final Test on Sunday. Set a daunting target of 192 after the tourists were dismissed for 123 in their second
Published 05 May, 2015 12:00am
Ibrahimovic sparks Paris title thrust

Ibrahimovic sparks Paris title thrust

Zlatan Ibrahimovic, fresh from a three-match ban, sparked Paris Saint Germain's 2-0 win at Nantes in Ligue 1 on Sunday, moving them a step closer to third straight French title. The Swede had a hand in both goals, notably playing the ball between Nantes'
Published 05 May, 2015 12:00am
India to tour Bangladesh in June

India to tour Bangladesh in June

India will undertake a short tour of Bangladesh next month to play one Test match and three one-day internationals, the Bangladesh Cricket Board said on Monday. The one-off Test will be played in Fatullah from June 10 to 14, followed by the one-dayers in
Published 05 May, 2015 12:00am
Murray wins first clay title

Murray wins first clay title

Andy Murray won the first clay-court title of his career when he saw off Germany's Philipp Kohlschreiber in a tough three-setter during Monday's rain-delayed final of Munich's ATP tournament. The world number three and top seed in Munich needed just over
Published 05 May, 2015 12:00am
Suicide blast strikes north Damascus

Suicide blast strikes north Damascus

Al Qaeda's Syrian affiliate Al-Nusra Front claimed responsibility on Monday for a suicide attack hours earlier on a regime-controlled neighbourhood in Damascus, the group said via Twitter. A monitor said three regime forces were killed in the blast, along
Published 05 May, 2015 12:00am
Kerry in Kenya calls for unity to defeat terrorism

Kerry in Kenya calls for unity to defeat terrorism

US Secretary of State John Kerry vowed support to Kenya on Monday in the battle against Somalia's al Qaeda-affiliated Shebab, after calling for unity in the face of terror attacks. "The US continues to stand resolutely with the government and people of Ke
Published 05 May, 2015 12:00am
Uber driver found guilty in Belgium crackdown

Uber driver found guilty in Belgium crackdown

An Uber driver in Belgium was found guilty of breaking taxi laws on Monday, in the first case to land in a Brussels court after dozens of drivers were caught by police posing as clients of the banned service. The driver was shown leniency with an unspecif
Published 05 May, 2015 12:00am
Merkel defends German intelligence co-operation with NSA

Merkel defends German intelligence co-operation with NSA

Chancellor Angela Merkel defended Germany's BND intelligence agency on Monday against accusations it illegally helped the United States spy on officials and firms in Europe. In her first public comments on a scandal that has gripped Germany for weeks, Mer
Published 05 May, 2015 12:00am
Italy approves electoral law to end revolving door governments

Italy approves electoral law to end revolving door governments

Italy's parliament on Monday approved a radical new electoral law designed to ensure the country's elections always produce governments with working majorities. The reform, aimed at ending decades of political instability associated with Italy's post-war
Published 05 May, 2015 12:00am
Powerful New York lawmaker arrested after FBI probe

Powerful New York lawmaker arrested after FBI probe

The powerful leader of New York's state Senate was arrested on Monday, along with his son, in a widening federal corruption probe. Senate Majority Leader Dean Skelos, 67, and his son Adam, 32, surrendered at FBI offices in lower Manhattan, after being hit
Published 05 May, 2015 12:00am
Only 60 Europeans now missing in Nepal quake

Only 60 Europeans now missing in Nepal quake

The number of EU citizens missing in the massive Nepal earthquake has fallen dramatically to around 60 from about 1,000 last week, European sources said Monday. "The number of EU citizens who are still unaccounted for has gone down to around 60. These are
Published 05 May, 2015 12:00am
Republicans Carson, Fiorina enter White House race

Republicans Carson, Fiorina enter White House race

The Republican presidential field expanded by two Monday with the addition of former Hewlett Packard boss Carly Fiorina and conservative neurosurgeon Ben Carson, second-tier candidates aiming to dramatically upset the White House race. They join three con
Published 05 May, 2015 12:00am
Saudi Arabia considering bombing pauses for Yemen aid delivery

Saudi Arabia considering bombing pauses for Yemen aid delivery

Saudi Arabia is considering temporary halts in coalition air strikes against rebels in Yemen to allow for aid deliveries, Foreign Minister Adel al-Jubeir said Monday. The announcement came as clashes raged in southern Yemen between rebels and fighters all
Published 05 May, 2015 12:00am
Puerto Rico authorises medical marijuana

Puerto Rico authorises medical marijuana

Puerto Rico's Governor Alejandro Garcia Padilla has authorised the use of marijuana for medicinal use, in a surprise move after the US possession's legislature failed to act on the issue. Garcia Padilla signed the decree late Sunday, instructing his healt
Published 05 May, 2015 12:00am
Two Mexico soldiers found dead after helicopter downed

Two Mexico soldiers found dead after helicopter downed

Mexican authorities have found the bodies of two soldiers who disappeared after a drug cartel brought down a military helicopter with a rocket-propelled grenade launcher, officials said Monday. Federal police chief Enrique Galindo said authorities believe
Published 05 May, 2015 12:00am
Qatar hopes to end 'kafala' system in 2015: minister

Qatar hopes to end 'kafala' system in 2015: minister

Qatar's labour minister said Monday he hopes the country's controversial "kafala" system, which critics have likened to modern-day slavery, will be abolished before the end of this year. Dr Abdullah bin Saleh al-Khulaifi, the minister of labour and social
Published 05 May, 2015 12:00am
Cotton inches up in late-session buying amid planting progress

Cotton inches up in late-session buying amid planting progress

ICE cotton settled up slightly on Monday after spending most of the session in negative territory, pressured by expectations that a report set to be released later on Monday would show US farmers had made significant progress in planting their crops.
Published 05 May, 2015 12:00am
New Zealand commodity prices fall in April

New Zealand commodity prices fall in April

Prices for New Zealand's main commodities fell for the first time in three months in April, driven by a renewed slide in dairy prices, ANZ Bank's commodity price index showed on Monday. The index fell 7.4 percent for the month, to be 15.3 percent lower th
Published 05 May, 2015 12:00am
Shanghai copper up 4 percent, plays catch up after holiday

Shanghai copper up 4 percent, plays catch up after holiday

Shanghai copper rallied nearly four percent on Monday after China's factory activity shrank in April, boosting bets Beijing would take further easing steps, and as markets reopened after a long weekend. China's factories last month suffered their fastest
Published 05 May, 2015 12:00am
Asia-Pacific crude market steady

Asia-Pacific crude market steady

The Asia-Pacific crude market held steady with most June-loading cargoes committed, while a tender by Thailand's PTT could offer support. Indonesia's Pertamina bought 600,000 barrels of Malaysian Kikeh crude from Shell and 950,000 barrels of Nigerian Escr
Published 05 May, 2015 12:00am
EU wheat at seven-month low on hefty supplies outlook

EU wheat at seven-month low on hefty supplies outlook

European wheat futures for the coming harvest tumbled to seven-month lows on Monday under pressure from large global supplies and a slowdown in export demand. Prices also came under pressure from a relatively firm euro and from prospects that Russia could
Published 05 May, 2015 12:00am
Threat of Argentine port strike looms ahead of record soya harvest

Threat of Argentine port strike looms ahead of record soya harvest

Workers in Argentina's grains hub Rosario threatened to launch an open-ended strike on Monday that would put upward pressure on global food prices by interrupting supply from the top exporter of soyameal livestock feed. The Rosario work stoppage would sta
Published 05 May, 2015 12:00am
Raw sugar down, coffee at seven-week low

Raw sugar down, coffee at seven-week low

Raw sugar futures on ICE tumbled 3 percent on Monday, pressured by the weak currency in Brazil, the world's biggest sugar producer, while arabica coffee fell to a seven-week low after an influential trade house raised a key crop forecast. New York cocoa f
Published 05 May, 2015 12:00am
Gold springs back in Asia

Gold springs back in Asia

Gold edged up on Monday after three days of losses, but the metal wasn't too far from a six-week low as investors continued to speculate on when the Federal Reserve might raise US interest rates. Spot gold ticked up 0.4 percent to $1,183.08 an ounce by 07
Published 05 May, 2015 12:00am
Gold climbs in Europe

Gold climbs in Europe

Gold climbed 1 percent on Monday as a dip in the dollar sparked a rally from the previous session's six-week low, though caution over the timing of a US interest rate hike kept prices hemmed within a narrow range. Silver also jumped, to its highest level
Published 05 May, 2015 12:00am
US MIDDAY: soyabeans gain

US MIDDAY: soyabeans gain

US soyabean futures rose more than 1 percent on Monday, following a sharp rally in soyaoil that stemmed from talk of rising demand on the export market. "I've heard some talk that China has an increased appetite for (soya) oil, said Bill Gentry, broker at
Published 05 May, 2015 12:00am
US MIDDAY: gold rebounds

US MIDDAY: gold rebounds

Gold climbed 1 percent early on Monday, buoyed by weak Chinese factory data and earlier dollar weakness, lifting prices above the prior session's six-week low, though caution over the timing of a US interest rate hike kept prices hemmed within a narrow ra
Published 05 May, 2015 12:00am
Lakhvi seeks exemption from attending trial proceedings

Lakhvi seeks exemption from attending trial proceedings

The alleged mastermind of Mumbai attack case has submitted an application before the anti-terrorism court (ATC) to seek exemption from attending trial proceedings due to security threats. ATC is scheduled to resume Zakiur Rehman Lakhvi's trial in the Mumb
Published 05 May, 2015 12:00am
Dar meets heads of Japanese, Chinese delegations

Dar meets heads of Japanese, Chinese delegations

Finance Minister, Senator Mohammad Ishaq Dar met with the Chinese head of delegation, Jiwei Lou and Japanese Head of Delegation Taro Aso on the sidelines of the 48th Annual Meeting of ADB Board of Governors here on Monday. They exchanged views on the bila
Published 05 May, 2015 12:00am
Disqualification of Saad Rafiq: PML-N likely to move SC

Disqualification of Saad Rafiq: PML-N likely to move SC

The ruling Pakistan Muslim League-Nawaz (PML-N) is most likely to challenge the election tribunal's decision ordering re-election on NA-125 Lahore, the constituency of Railways Minister Khawaja Saad Rafiq, in the Supreme Court. Party sources said that sen
Published 05 May, 2015 12:00am
'Defamatory' programmes PPP seeks Pemra's intervention

'Defamatory' programmes PPP seeks Pemra's intervention

Pakistan Peoples' Party has asked Pakistan Media Regulatory Authority (Pemra) to stop live telecast of systematic, one-sided defamatory programmes against its leader former President Asif Ali Zardari being aired in violation of the regulatory body's rules
Published 05 May, 2015 12:00am
KP Assembly demands action against MQM chief

KP Assembly demands action against MQM chief

Khyber Pakhtunkhwa Assembly on Monday adopted a resolution unanimously demanding of the federal government to take immediate action against the self-imposed exile MQM chief Altaf Hussain for his provocative statement regarding national institutions and se
Published 05 May, 2015 12:00am