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Print - 2015-07-02
Pakistani students Bestway sets up fund at Oxford varsity

Pakistani students Bestway sets up fund at Oxford varsity

The Bestway Foundation, announced setting up of an exciting new £1.8 million endowment fund with the world renowned Oxford University to sponsor two Pakistani students at the university every year. The group has teamed up with the university to create a s
Published 02 Jul, 2015 12:00am
Aluminium, zinc rebound on hopes for demand, Greek deal

Aluminium, zinc rebound on hopes for demand, Greek deal

Most base metals rebounded on Wednesday on brighter prospects for a Greek bailout deal and after solid US economic data that spurred hopes for stronger demand. Many investors scrambled to close out short positions after profiting from sharp falls over the
Published 02 Jul, 2015 12:00am
Shanghai copper, nickel sink

Shanghai copper, nickel sink

Shanghai Futures Exchange (ShFE) copper sank 0.6 percent to 41,970 yuan ($6,767) a tonne on Wednesday while nickel was up 0.7 percent, while nickel slipped again, a day after it slid to six-year lows after China's June factory growth came in slightly slow
Published 02 Jul, 2015 12:00am
ICE cotton turns up after USDA slashes plantings estimate
Cotton

ICE cotton turns up after USDA slashes plantings estimate

ICE cotton turned higher on Tuesday after the US government slashed its estimate for cotton plantings to the lowest in over three decades, bucking pressure from news earlier from Beijing on a plan to offload huge inventories. The benchmark December cotton
Published 02 Jul, 2015 12:00am
Rise in forex reserves

Rise in forex reserves

The Federal Finance Minister Ishaq Dar has congratulated the Prime Minister and the nation for foreign exchange reserves in excess of 18 billion dollars. This is a positive development though economists would not have included the 5 billion dollars held b
Published 02 Jul, 2015 12:00am
Exposing Indian meddling

Exposing Indian meddling

At long last Pakistan has decided to raise the issue of India's meddling at the United Nations Security Council and upcoming UN General Assembly session. It should have been done much earlier, for there was always sufficient evidence at hand suggesting In
Published 02 Jul, 2015 12:00am
VIEW POINT: MQM's deepening distress

VIEW POINT: MQM's deepening distress

The MQM is in trouble yet again, this time more seriously since the source putting a question mark on the party leadership's loyalty to the country is not a local opponent but the BBC. The report makes a shocking purported revelation about the party's fun
Published 02 Jul, 2015 12:00am
Taxes on consumption

Taxes on consumption

Concepts of taxation are changing around the world. Many governments in developed and developing countries are facing record budget deficits and high levels of unemployment, taxes on consumption are thus increasingly becoming important as they are playing
Published 02 Jul, 2015 12:00am
Thai crackdown on rogue fishing as fears grow over EU ban

Thai crackdown on rogue fishing as fears grow over EU ban

A belated Thai clampdown on illegal fishing is forcing unlicensed vessels ashore, threatening to paralyse a key industry as the kingdom desperately tries to avoid a European Union ban on exports worth $1 billion a year. Barrels of fish packed in ice are u
Published 02 Jul, 2015 12:00am
Region in throes of violence

Region in throes of violence

This refers to a Business Recorder news item "Suicide blasts hit Afghanistan as Taliban wage bloody offensive". According to it, suicide attackers on Tuesday targeted Nato troops in Kabul and a police headquarters in restive southern Afghanistan, k
Published 02 Jul, 2015 12:00am
Afghan President's assertion found to be disappointing

Afghan President's assertion found to be disappointing

The latest assertion by Afghan President Ashraf Ghani that Pakistan had been waging an 'undeclared war' against his country for the last 14 years, was disappointing for relevant quarters dealing with Pakistan's policy on Afghanistan. They believe such sta
Published 02 Jul, 2015 12:00am
Regulating NGOs: SC expresses dissatisfaction over government reports

Regulating NGOs: SC expresses dissatisfaction over government reports

The Supreme Court on Wednesday expressed dissatisfaction over the reports of provincial and federal governments regarding funding sources and regularisation of Non-governmental Organisations (NGOs). On June 23, a three-member bench led by the Justice Jaww
Published 02 Jul, 2015 12:00am
Bilawal to meet Wattoo today

Bilawal to meet Wattoo today

Chairman Bilawal Bhutto is to meet Pakistan Peoples' Party Punjab President Manzoor Wattoo in private at the Bilawal House in Karachi in the late Thursday afternoon. Party Chief Wattoo will brief the chairman on the party organisation in the Punjab of all
Published 02 Jul, 2015 12:00am
Fatemi condoles death of former Russian Prime Minister

Fatemi condoles death of former Russian Prime Minister

Special Assistant to the Prime Minister on Foreign Affairs Syed Tariq Fatemi visited the Russian Embassy on Wednesday to sign the condolence book on the passing away of former Prime Minister and Foreign Minister of the Russian Federation, Yevgeny M Primak
Published 02 Jul, 2015 12:00am
Hajj Directorate Refresher courses of master trainers

Hajj Directorate Refresher courses of master trainers

One day refresher courses of master Hajj trainers and resource persons would be held in Hajj Directorate Madinat-ul-Hujjaj on Friday. The master trainers from over 28 cities have already been intimated to attend the training. Joint Secretary (Hajj) Minist
Published 02 Jul, 2015 12:00am
Preservation of historical sites Formation of strategy ordered

Preservation of historical sites Formation of strategy ordered

Chief Secretary Punjab Khizar Hayyat Gondal has ordered formulating a strategy for preservation and rehabilitation of archaeological, historical and cultural sites in the province. He was talking to the members of Board of Governors of Punjab Heritage Fou
Published 02 Jul, 2015 12:00am
Artists look to counter violent extremism

Artists look to counter violent extremism

At a militant training camp, a new recruit asks his instructor why his comrades are attacking churches and mosques rather than enemy bases. "This world is full of sin. It needs to be bathed in blood," the instructor replies, nurturing seeds of doubt that
Published 02 Jul, 2015 12:00am
Three labourers killed in Quetta

Three labourers killed in Quetta

Unknown armed men gunned down three labourers at Sirki Road area of provincial capital on Wednesday. According to police sources, the victims were working in a welding shop when armed assailants riding a motorbike opened fire on them and fled from the sce
Published 02 Jul, 2015 12:00am
Multan Metro Bus project discussed

Multan Metro Bus project discussed

Punjab Chief Minister Muhammad Shahbaz Sharif presided over a high level meeting here Wednesday in which matters relating to metro bus project in Multan were discussed. MD Punjab Metro Bus Authority, Commissioner Multan Division, DCO Multan, DG LDA, Chief
Published 02 Jul, 2015 12:00am
Punjab PPP leaders, others join PTI

Punjab PPP leaders, others join PTI

Pakistan People's Party (PPP) faced a major setback on Wednesday after two of its senior politicians from central Punjab formally joined Imran Khan's Pakistan Tehreek-e-Insaf (PTI) after a meeting with the latter at his Bani Gala residence. All officer-be
Published 02 Jul, 2015 12:00am
Altaf should file case against BBC: Shujaat

Altaf should file case against BBC: Shujaat

Pakistan Muslim League-Q President Chaudhry Shujaat Hussain has called upon MQM leader Altaf Hussain to immediately file a case against BBC in the British court to prove his innocence. "We had won the case in 1991 against British newspaper "Guardian" agai
Published 02 Jul, 2015 12:00am
DG Rescue 1122 reviews emergency operations in 36 districts

DG Rescue 1122 reviews emergency operations in 36 districts

Director General Rescue Punjab Dr Rizwan Naseer while reviewing emergency operations in all the 36 districts of Punjab to ensure uniform standard of the service and smooth emergency services delivery without discrimination has said owing to prevailing con
Published 02 Jul, 2015 12:00am
Three foreign airlines to begin flights from Faisalabad

Three foreign airlines to begin flights from Faisalabad

Three foreign airline companies have given schedule to start international flights while another six companies are negotiating to start their operation from Faisalabad International AirPort, disclosed Engineer Rizwan Ashraf President Faisalabad Chamber of
Published 02 Jul, 2015 12:00am
Head of al Qaeda in Pakistan killed in operation: Shuja

Head of al Qaeda in Pakistan killed in operation: Shuja

Provincial Minister for Home Colonel Shuja Khanzada (Retd) has said that all terrorists who were killed or arrested in joint operation in Kala Shah Kaku belonged to al Qaeda and their target was headquarters of Intelligence Bureau on Mall Road on June 29.
Published 02 Jul, 2015 12:00am
Punjab government announces 'Token Tax Identification Stickers'

Punjab government announces 'Token Tax Identification Stickers'

Punjab government has announced the launch of "Token Tax Identification Stickers" with the collaboration of Excise and Taxation (E&T) department. These stickers form a part of SMU's "Transport Sahulat Program" (Transport Facilitation Program). Sr Member S
Published 02 Jul, 2015 12:00am
MCCI chief asks government to revive agriculture sector

MCCI chief asks government to revive agriculture sector

The government should not make Pakistan a consumer country or a trading showcase for the world instead it should revive the agriculture sector which has been adversely affected. This was stated by Mian Iqbal Hassan, President, Multan Chamber of Commerce &
Published 02 Jul, 2015 12:00am
Trade team discusses core issues with LCCI chief

Trade team discusses core issues with LCCI chief

A four-member Trade Related Technical Assistance II Programme team on Wednesday met Lahore Chamber of Commerce and Industry (LCCI) President Ijaz Mumtaz to talk about the business atmosphere in Pakistan. The team, made up of Chief Technical Advisor Bruno
Published 02 Jul, 2015 12:00am
Notices issued

Notices issued

The Lahore High Court has issued notices to the Attorney General of Pakistan and the Advocate General of the Punjab following a petition challenging taxing cars and vehicles for September 7. Petitioner Azhar Siddique Advocate argued in the court on Wednes
Published 02 Jul, 2015 12:00am
Notices under SRO 608 aimed at harassing traders: PIAF

Notices under SRO 608 aimed at harassing traders: PIAF

Pakistan Industrial and Traders Association Front Chairman Irfan Iqbal Sheikh has voiced his concern over the issuance of notices under SRO 608, claiming that the notices are harassing traders. In his speech to a delegation of thee garments and superstore
Published 02 Jul, 2015 12:00am
Contravention cases: lower limit raised to Rs 20,000, collectors told

Contravention cases: lower limit raised to Rs 20,000, collectors told

The Federal Board of Revenue (FBR) has conveyed to the Collectors of Customs that the lower limit for making contravention case has been raised to Rs 20,000 by amending sub-section 3 of section 32of the Customs Act, 1969. The FBR here on Wednesday issued
Published 02 Jul, 2015 12:00am
Islamabad LG polls bill Senate session summoned on 6th for legislation

Islamabad LG polls bill Senate session summoned on 6th for legislation

President of Pakistan has summoned the Senate session for legislation pertaining to Islamabad local government elections bill on July 6. The legislation on the bill has been initiated after the announcement of local government elections scheduled to be he
Published 02 Jul, 2015 12:00am
Government sets up first think-tank on climate change

Government sets up first think-tank on climate change

The Ministry of Climate Change has a hammered out a high-level think-tank of experts, which will support the ministry time to time in taking better and informed decisions in various areas of climate change and allied issues. The think-tank, called Consult
Published 02 Jul, 2015 12:00am
British HC lauds role of Zarb-e-Azb

British HC lauds role of Zarb-e-Azb

British High Commissioner, Philip Barton on Wednesday called on Federal Defence Minister Khawja Muhammad Asif and praised Pakistan Army for conducting a successful operation Zarb-e-Azb which had significantly contributed towards improving the security sit
Published 02 Jul, 2015 12:00am
Federal Capital: IHC dismisses PTI's plea seeking party-based polls

Federal Capital: IHC dismisses PTI's plea seeking party-based polls

Islamabad High Court (IHC) on Wednesday dismissed the petition of Tehrik-e-Insaf (PTI) seeking party-based elections in the federal capital. The petition was filed by local member national assembly (MNA) of PTI Asad Umar and others. However, the order was
Published 02 Jul, 2015 12:00am
PTCL introduces 'Eidee Offer' for customers

PTCL introduces 'Eidee Offer' for customers

Pakistan Telecommunication Company Limited (PTCL) has announced 'Ediee Offer' for its landline customers. Through this offer, the company is giving away two Honda City cars and 10 motorcycles to reward the loyalty and continued trust of PTCL customers in
Published 02 Jul, 2015 12:00am
FBR issues instructions for implementation of budgetary measures

FBR issues instructions for implementation of budgetary measures

The Federal Board of Revenue (FBR) on Wednesday intimated Collectors of Customs that customs duty has been reduced from 30 percent to 20 percent on import of specialised vehicles by the construction companies registered with Securities and Exchange Commis
Published 02 Jul, 2015 12:00am
Erasing NARC: PARC opposes CDA's move

Erasing NARC: PARC opposes CDA's move

While opposing the proposal to convert land of National Agriculture Research Council (NARC) earmarked for research purpose into housing colony, members of board of governors (BoG) of the council termed the move similar to that of Tailiban who have track r
Published 02 Jul, 2015 12:00am
Missing lawyer's case: IHC issues notices

Missing lawyer's case: IHC issues notices

Islamabad High Court (IHC) on Wednesday issued notices to the Director General of Inter Services Intelligence (ISI) and Secretary Defence in the missing lawyer case. Justice Shaukat Aziz Siddiqui of the IHC directed DG ISI to depute an officer not below t
Published 02 Jul, 2015 12:00am
Senate body rejects Bill seeking to revoke presidential immunity

Senate body rejects Bill seeking to revoke presidential immunity

Senate's Standing Committee on Law, Justice and Human Rights on Wednesday rejected "The Constitution (Amendment) Bill, 2015" seeking to revoke immunity given to the President or a Governor regarding criminal proceeding against them in any court during the
Published 02 Jul, 2015 12:00am
Government securities 12 primary dealers for fiscal year 2016 appointed

Government securities 12 primary dealers for fiscal year 2016 appointed

State Bank of Pakistan (SBP) appointed twelve (12) Primary Dealers of Government Securities (PIB & MTB) for FY 2015-16 Applications were invited for the selection of Primary Dealers for the Financial Year (FY) 2015-16 vide DMMD Circular No 8 dated May 15,
Published 02 Jul, 2015 12:00am
Hubco to get Rs 1.912 million refund

Hubco to get Rs 1.912 million refund

The Hub Power Company (Hubco) is all set to receive a refund of Rs 1.912 million it had paid to the Federal Board of Revenue (FBR). The power producer was entitled to the tax refund by the Supreme Court which Hubco, in a stock filing said, dismissed the c
Published 02 Jul, 2015 12:00am
SBP launches official twitter account

SBP launches official twitter account

State Bank of Pakistan (SBP) has developed its official twitter account to post all relevant updated information. Governor SBP Ashraf Mahmood Wathra inaugurated the account by sending the first ever message as "SBP is pleased to join the social media on i
Published 02 Jul, 2015 12:00am
SSIC employees protest non-release of salaries

SSIC employees protest non-release of salaries

Protest of Sindh Small Industries Corporation's (SSIC) employee entered 59th day on Wednesday against non-payment of their salaries and other benefits. The demo is being staged outside Hyderabad Press Club (HPC) where around 20 employees of corporation pa
Published 02 Jul, 2015 12:00am
Newly-elected officer-bearers of HPC felicitated

Newly-elected officer-bearers of HPC felicitated

The Divisional Director Information, Government of Sindh, Hyderabad Khurshid Ali Shaikh and officers of Information Hyderabad has extend their heartiest felicitation over overwhelming victory in the recent election of Press Club Hyderabad to newly-elected
Published 02 Jul, 2015 12:00am
Five OGDCL employees: held in fake degree case

Five OGDCL employees: held in fake degree case

The Federal Investigation Agency (FIA) arrested five employees of Oil and Gas Development Company Limited (OGDCL) in fake degree case on Wednesday. Sources said that five OGDCL employees were detained by FIA after their degrees were proved fake, after ver
Published 02 Jul, 2015 12:00am
Clarification

Clarification

This is with reference to a news item 'Minister places moratorium on recruitment' carried by Business Recorder on July 01, 2015. The Ministry of Commerce clarifies that the process of selection of Permanent Representatives to WTO was undertaken tra
Published 02 Jul, 2015 12:00am
SU extends date for registration

SU extends date for registration

The Deputy Registrar Admissions has announced that the date for registration in current 1st Term of 2nd, 3rd, 4th and final year classes of all Faculties/ITC/Institute of Food Sciences & Technology and SZABAC Dokri, for academic session 2014-15, has been
Published 02 Jul, 2015 12:00am
IGP reviews arrangements for KP re-poll

IGP reviews arrangements for KP re-poll

In order to ensure maintenance of law and order, avert any mismanagement and violence on the eve of re-polling on the 358 polling stations in connection with local bodies election of the province, a high level meeting with IGP Nasir Khan Durrani in the ch
Published 02 Jul, 2015 12:00am
Manufacturers FBR to issue temporary ST registrations within 72 hours

Manufacturers FBR to issue temporary ST registrations within 72 hours

The Federal Board of Revenue (FBR) will issue temporary sales tax registrations to the manufacturers within 72 hours of filing of the complete application from July 1, 2015. According to the amended Sales Tax Rules, 2006 issued here on Wednesday, where a
Published 02 Jul, 2015 12:00am
Dar meets Saudi counterpart, Omanese delegate

Dar meets Saudi counterpart, Omanese delegate

Finance Minister Senator Mohammad Ishaq Dar had separate meetings with Finance Minister of Saudi Arabia and Head of Omanese delegation attending the Asian Infrastructure Investment Bank (AIIB) signing ceremony. According to statement received here on Wedn
Published 02 Jul, 2015 12:00am
Ombudsman vows to resolve issues of overseas Pakistanis

Ombudsman vows to resolve issues of overseas Pakistanis

Federal Ombudsman M Salman Faruqui has expressed the resolve that all out efforts would be made to resolve the issues of Overseas Pakistanis at priority basis as they were backbone of Pakistan economy and represent true face of Pakistan abroad. He express
Published 02 Jul, 2015 12:00am
Taxable activities: restaurants, cafes required to provide access to FBR

Taxable activities: restaurants, cafes required to provide access to FBR

Restaurants, cafes, coffee shops, eateries, snack bars and hotels would provide continuous and full remote as well as on-site access to their computerised systems to the FBR for monitoring or tracking of taxable activities by electronic or other means. Th
Published 02 Jul, 2015 12:00am
Transfers, postings in FBR

Transfers, postings in FBR

The Federal Board of Revenue (FBR) has transferred and posted 16 officers of Inland Revenue Service (BS-18-19) with immediate effect.
Published 02 Jul, 2015 12:00am
Monsoon season: CAA BBIAP takes precautionary measures

Monsoon season: CAA BBIAP takes precautionary measures

The management of CAA BBIAP has taken precautionary measures during monsoon season at the airports to keep smooth flight operation. In this regard a meeting was held at the airport which was chaired by Muhammad Ayaz Jadoon, Airport Manager to finalize the
Published 02 Jul, 2015 12:00am
Standard Chartered Pakistan gets two IFA Awards 2015

Standard Chartered Pakistan gets two IFA Awards 2015

Islamic Finance Award (IFA) 2015 recognised Standard Chartered Saadiq for the Best Islamic Consumer Banker of the year 2015 and Islamic Corporate Relationship Manager of the year 2015. Ali Allawala, Head of Islamic Banking, Retail Clients won the award fo
Published 02 Jul, 2015 12:00am
Partly cloudy weather forecast for Karachi

Partly cloudy weather forecast for Karachi

The city's temperature is gradually losing heat as the met office on Wednesday forecast a partly cloudy weather for the next 24 hours with winds to tear at a speed of 20 nautical miles an hour. The metropolis, which temperature touched a decade high of 45
Published 02 Jul, 2015 12:00am
Euro dips in Europe as officials strive to head off Greek exit
Currency

Euro dips in Europe as officials strive to head off Greek exit

The euro dipped on Wednesday, buffetted by a flurry of reports on new concessions made by Greece to its European creditors and the chances those might lead to a deal that prevents it becoming the first country to crash out of the single currency. In a fev
Published 02 Jul, 2015 12:00am
Liberia announces two more confirmed Ebola cases

Liberia announces two more confirmed Ebola cases

Liberia said Wednesday a teenager who died of Ebola fever had spread the virus to at least two more people, confirming the first outbreak of the tropical disease for months. Health officials told AFP the infected pair had been in physical contact with the
Published 02 Jul, 2015 12:00am
USA beat Germany, reach final

USA beat Germany, reach final

Carli Lloyd and Kelley O'Hara both scored in the second half Tuesday to put the United States into the Women's World Cup final with a 2-0 victory over top-ranked Germany. Wearing the captain's armband, Lloyd got the first on 69 minutes from a penalty kick
Published 02 Jul, 2015 12:00am
Adil Rashid and Finn in England squad for Ashes opener

Adil Rashid and Finn in England squad for Ashes opener

Uncapped Yorkshire leg-spinner Adil Rashid and Middlesex fast bowler Steven Finn were both called into a 13-man England squad announced Wednesday for next week's first Ashes Test against Australia in Cardiff. Rashid, 27, who has played both one-day intern
Published 02 Jul, 2015 12:00am
Harris suffers Ashes setback

Harris suffers Ashes setback

Australia fast bowler Ryan Harris's hopes of being fit for next week's first Ashes Test suffered a blow on Wednesday with a recurrence of the knee trouble that has blighted his career. The setback ruled him out of the team's final warm-up match against Es
Published 02 Jul, 2015 12:00am
Messi sparkles as Argentina thrash Paraguay

Messi sparkles as Argentina thrash Paraguay

Lionel Messi produced a scintillating individual performance as Argentina destroyed Paraguay 6-1 to reach the final of the Copa America here Tuesday. The Barcelona superstar tormented Paraguay mercilessly as the favourites produced their best display of t
Published 02 Jul, 2015 12:00am
I'm not corrupt, insists Blatter

I'm not corrupt, insists Blatter

FIFA president Sepp Blatter has insisted he is not guilty of corruption despite the ongoing investigations into world football's governing body. Blatter passionately denied any wrongdoing to German magazine Bunte despite two separate on-going Swiss and Am
Published 02 Jul, 2015 12:00am
South Africa eye fresh start in Bangladesh

South Africa eye fresh start in Bangladesh

A new-look South Africa vowed to put their World Cup heartache behind them Wednesday as they began their tour of Bangladesh, promising not to underestimate their in-form hosts. "It is our first series after the World Cup so our players are coming nice and
Published 02 Jul, 2015 12:00am
Faisal Hayat re-elected PFF president despite court order

Faisal Hayat re-elected PFF president despite court order

Pakistan's football federation Wednesday announced the re-election of its president Faisal Saleh Hayat despite orders from a court not to hold a vote until the objection of a rival faction had been resolved. The move is set to plunge the sport into furthe
Published 02 Jul, 2015 12:00am
Djokovic, Sharapova breeze as Wimbledon endures record heat

Djokovic, Sharapova breeze as Wimbledon endures record heat

Novak Djokovic and Maria Sharapova breezed through at a sweltering Wimbledon on Wednesday where temperatures soared to a record 35.7 degrees while injury-plagued Japanese star Kei Nishikori was forced to withdraw. Defending champion and top seed Djokovic
Published 02 Jul, 2015 12:00am
Kyrgios courts Wimbledon trouble again

Kyrgios courts Wimbledon trouble again

Nick Kyrgios fired another verbal volley at Wimbledon officials during a heated 7-6 (7/5), 6-3, 6-4 second round win over Argentina's Juan Monaco on Wednesday. Kyrgios has a reputation as one of the most volatile players on the men's tour and the Australi
Published 02 Jul, 2015 12:00am
Ball boy collapses, fans roast in record Wimbledon heat

Ball boy collapses, fans roast in record Wimbledon heat

A ball boy collapsed and fans took cover as Wimbledon sweltered Wednesday on the hottest day ever recorded at the championships. The suncream was slapped on and fans formed long queues at the water fountains as they tried to beat the heat in sweaty south-
Published 02 Jul, 2015 12:00am
Sterling slips to two-week low versus rallying dollar
Currency

Sterling slips to two-week low versus rallying dollar

Sterling slipped on Wednesday to a two-week low as the dollar rallied on strong US jobs figures and after data showed British manufacturing growth slowed unexpectedly in June. Numbers showed US private employers ramped up hiring to a six-month high in Jun
Published 02 Jul, 2015 12:00am
New Zealand dollar struggles off five-year trough
Currency

New Zealand dollar struggles off five-year trough

The New Zealand dollar drifted up from a five-year low on Thursday, taking heart from gains in Asian stocks as investors took the news of Greece's default on an IMF loan in stride. As expected, Athens was unable to make a scheduled 1.6 billion euro loan r
Published 02 Jul, 2015 12:00am
Ringgit leads gains in Asia FX
Currency

Ringgit leads gains in Asia FX

The Malaysian ringgit led gains among emerging Asian currencies on Wednesday after Fitch Ratings maintained the country's sovereign ratings, erasing concern about a possible downgrade because of state fund 1MDB's debt problems. The South Korean won edged
Published 02 Jul, 2015 12:00am
Yuan down on weaker official midpoint
Currency

Yuan down on weaker official midpoint

China's yuan dipped on Wednesday as dollar demand slightly outweighed supply after the central bank set the official guidance rate weaker, traders said. The World Bank warned on Wednesday that capital outflows from China had increased sharply in recent mo
Published 02 Jul, 2015 12:00am
Euro broadly lower in New York trade
Currency

Euro broadly lower in New York trade

The euro was broadly lower on Tuesday as investors braced for the near certainty that Greece will default on a loan from the International Monetary Fund, while the US dollar benefited from month- and quarter-end buying. The euro was last down 0.8 percent
Published 02 Jul, 2015 12:00am
Early trade in New York: Euro dips against dollar
Currency

Early trade in New York: Euro dips against dollar

The euro fell against the dollar on Wednesday as attention shifted to strong US data and the prospect for a Federal Reserve rate hike this year, after Greece's Prime Minister signalled he would accept creditors' bailout offer with some conditions. Greek P
Published 02 Jul, 2015 12:00am
European shares gain

European shares gain

European shares extended gains on Wednesday after a report that Greece was ready to accept most conditions from its international creditors to clinch a debt deal. The Financial Times, citing a letter Alexis Tsipras sent to the heads of the European Commis
Published 02 Jul, 2015 12:00am
Tokyo stocks climb

Tokyo stocks climb

Tokyo stocks closed 0.46 percent higher Wednesday as investors largely discounted the widely expected Greek default. The benchmark Nikkei 225 index at the Tokyo Stock Exchange rose 93.59 points to end at 20,329.32, while the Topix index of all first-secti
Published 02 Jul, 2015 12:00am
Wednesday's early trade: stocks rise on Greece hopes, strong data

Wednesday's early trade: stocks rise on Greece hopes, strong data

US stocks rose on Wednesday after Greece's prime minister signalled he was prepared to accept most of creditors' bailout terms and a raft of US data pointed to a stronger economy. Adding to the positive tone, financial stocks rallied after Swiss insurance
Published 02 Jul, 2015 12:00am
Wall Street rises after choppy trading day

Wall Street rises after choppy trading day

US stocks finished up after a choppy trading day as investors held out hope on Tuesday for deal to keep Greece in the euro even as it veered close to a potential debt default. Greece, hours from missing a 1.6 billion euro ($1.8 billion) payment due to the
Published 02 Jul, 2015 12:00am
US bond yields rise

US bond yields rise

US Treasuries yields rose on Tuesday, closing a rough quarter, as hopes of a last-minute deal between Greece and its creditors that would keep the cash-strapped nation from leaving the euro zone pared the safe-haven demand for US government debt. The Trea
Published 02 Jul, 2015 12:00am
US bond yields rise

US bond yields rise

US Treasuries yields rose on Tuesday, closing a rough quarter, as hopes of a last-minute deal between Greece and its creditors that would keep the cash-strapped nation from leaving the euro zone pared the safe-haven demand for US government debt. The Trea
Published 02 Jul, 2015 12:00am
Australia shares index ends the day up

Australia shares index ends the day up

Australian shares rose 1 percent on Wednesday as investors hoped a last-ditch deal would be made to keep Greece in the euro zone. The S&P/ASX 200 index edged up 56.690 points to 5,515.700 at the close of trade. The benchmark was up 0.67 percent on Tuesday
Published 02 Jul, 2015 12:00am
China stocks plunge again

China stocks plunge again

China stocks tumbled again on Wednesday, surrendering much of Tuesday's sharp gains, as investors took advantage of any rebound to reduce their leveraged positions. The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 4.9 percent
Published 02 Jul, 2015 12:00am
BSE index marks highest close in 2-1/2 months
Currency

BSE index marks highest close in 2-1/2 months

India's BSE index rose nearly 1 percent on Wednesday, to close above the psychologically important 28,000 level, its highest close in nearly 2-1/2 months, as state-run banks rose after the government's plan for a comprehensive package raised hopes of fast
Published 02 Jul, 2015 12:00am
Canadian dollar hits three-week low on soft data, looming Greek default

Canadian dollar hits three-week low on soft data, looming Greek default

The Canadian dollar fell to its weakest level against the greenback in more than three weeks on Tuesday, hit by a surprise economic contraction at home at the start of the second quarter as investors watched Greece approach default on its debt. Canadian e
Published 02 Jul, 2015 12:00am
Most emerging European currencies stay firm

Most emerging European currencies stay firm

Most emerging European currencies firmed on Wednesday, boosted by strong manufacturing sector sentiment readings and news that Greece had told creditors it could accept a June 28 bailout offer if some conditions were changed. The crown led the gains, risi
Published 02 Jul, 2015 12:00am
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