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Nov 23, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-07-22
Power bills of flour mills: FBR asked to waive off levy of further tax

Power bills of flour mills: FBR asked to waive off levy of further tax

A tax practitioner has asked the Federal Board of Revenue (FBR) to pass an order to waive off the levy of 'further tax' on electricity bills of flour mills (exempted units) under Sales Tax Act 1990 as directed by Lahore High Court and directed the power d
Published 22 Jul, 2015 12:00am
Flood-hit Chitral: JI KP for increase in financial assistance

Flood-hit Chitral: JI KP for increase in financial assistance

Jamaat-e-Islami (JI) Khyber Pakhtunkhwa has said that the provincial government announced financial assistance of Rs 1million for flood-hit Chitral was not sufficient to mitigate sufferings of Chitarlis and demanded to increase the assistance to carryout
Published 22 Jul, 2015 12:00am
Imran's approach to politics

Imran's approach to politics

This letter refers to a Business Recorder op-ed "PTI turning into a family enterprise?" by Saida Fazal. In her criticism of Imran Khan's endeavour to introduce his wife to politics, she has raised a very important point.
Published 22 Jul, 2015 12:00am
Brisk business for drug baron T-shirts after escape

Brisk business for drug baron T-shirts after escape

Ballads glorifying Joaquin "El Chapo" Guzman's daring jailbreak were composed shortly after his escape. Now T-shirts and hats featuring the Mexican drug kingpin's face are flying off the shelves. The fashion line features a wanted poster with the multimil
Published 22 Jul, 2015 12:00am
NAB and corruption debate - II

NAB and corruption debate - II

Though corruption is a way of life in Pakistan as all institutions are affected with this malady but the target of retribution, as usual, in media are politicians and not civil-military bureaucrats. Politicians allege that "the sacred cows-military and ju
Published 22 Jul, 2015 12:00am
Nepra moves against K-Electric

Nepra moves against K-Electric

Nepra, being much in hibernation ever since the privatisation of KESC some 10 years back, has been rudely shaken this summer to wake up amidst street protests and a fresh bout of government's awakening to take a fresh look at K-Electric (K-E) deliverables
Published 22 Jul, 2015 12:00am
Indifference to child rights

Indifference to child rights

Pakistan ratified the Convention on the Rights of the Child in 1990, thereby committing itself to undertake necessary measures to make those rights obtainable and protected. Quarter of a century on, not much is happening. A press report points out that a
Published 22 Jul, 2015 12:00am
Read, comprehend, and rectify
Currency

Read, comprehend, and rectify

There is considerable food for thought for members in both the houses of parliament (National Assembly and Senate) as well as the federal government in the third quarterly report of State Bank of Pakistan (SBP). The opposition members need to hold the gov
Published 22 Jul, 2015 12:00am
Cotton falls for third straight session to hit three-month low
Cotton

Cotton falls for third straight session to hit three-month low

Benchmark cotton futures on ICE fell for the third straight session on Tuesday, hitting their lowest levels in nearly three months, as speculators liquidated long positions and refrained from buying as the downward trend of recent weeks continued.
Published 22 Jul, 2015 12:00am
Shanghai copper up

Shanghai copper up

Shanghai copper edged up 0.4 percent, while Shanghai nickel surged 3.3 percent on Tuesday after China trade data showed imports of the stainless steel material more than doubled in June, raising hopes that a highly anticipated supply shortfall may finally
Published 22 Jul, 2015 12:00am
Copper slips on China demand growth worry
Currency

Copper slips on China demand growth worry

Copper prices slipped on Tuesday as the market worried about prospects for demand in top consumer China, where growth has slowed, but a weaker dollar helped cap losses. A lower US currency helps boost metal prices by making the sector cheaper for holders
Published 22 Jul, 2015 12:00am
Rubber flat

Rubber flat

Benchmark Tokyo rubber futures ended little changed on Tuesday as the impact of a weaker yen offset downward pressure from lower oil prices. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, have lost m
Published 22 Jul, 2015 12:00am
Wheat sinks

Wheat sinks

Chicago Board of Trade wheat futures sank 3.4 percent on Monday to their lowest in more than three weeks, the fifth straight losing session, on pressure from dollar strength and a pick-up in the pace of harvest, traders said. Soyabean and corn futures als
Published 22 Jul, 2015 12:00am
Palm oil up

Palm oil up

Malaysian palm oil edged higher on Tuesday, climbing from the last session's 1-1/2-week low on expectations of a drop in output due to holidays at the end of the Muslim fasting month of Ramadan. Palm oil for October delivery on Bursa Malaysia Derivatives
Published 22 Jul, 2015 12:00am
Raw sugar drops

Raw sugar drops

Raw sugar futures on ICE fell for the fifth straight session on Tuesday, after a corrective rally failed to hold momentum as concerns about a supply overhang persisted, while robusta coffee fell to the lowest since late-May on chart-based weakness. Arabic
Published 22 Jul, 2015 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold stabilised on Tuesday holding just above a five-year low, but investors still see further price falls a day after the metal tumbled 4 percent. Reflecting losing interest in gold, holdings in top gold fund SPDR Gold Trust fell to the lowest since 2008
Published 22 Jul, 2015 12:00am
Gold plunges to five-year lows in New York

Gold plunges to five-year lows in New York

Gold prices plunged more than 4 percent to five-year lows on Monday as a sudden bout of selling across Shanghai and New York markets during the illiquid early Asian trading hours triggered a mini flash crash, deepening bullion's biggest rout in years.
Published 22 Jul, 2015 12:00am
Gold teeters near 5-year low after 'bear raid'

Gold teeters near 5-year low after 'bear raid'

Gold was on the brink of five-year lows on Tuesday, with more losses expected in the coming months following Monday's "bear raid" when sellers dumped an estimated 33 tonnes in just two minutes. The sudden bout of selling in Shanghai and New York occurred
Published 22 Jul, 2015 12:00am
US MIDDAY: corn and soya up

US MIDDAY: corn and soya up

Chicago Board of Trade corn and soyabean futures rose on Tuesday, supported by a round of bargain buying after prices for both commodities fell to their lowest levels since late June, traders said. Wheat remained weak, with the front-month contract on tra
Published 22 Jul, 2015 12:00am
US MIDDAY: gold edges higher

US MIDDAY: gold edges higher

Gold edged higher on Tuesday, the day after it took its deepest dive in years and hit five-year lows, with many dealers bracing for more losses on expectations for a rise in US interest rates and subdued demand from India. In what traders called a "bear r
Published 22 Jul, 2015 12:00am
Oil gains after choppy trade, US August crude expires above $50

Oil gains after choppy trade, US August crude expires above $50

Crude oil futures held on to gains after a volatile session that saw the US front-month August contract expire and go off the board above $50 a barrel, with a weaker dollar providing support. Weak US RBOB gasoline futures helped curb gains for crude, espe
Published 22 Jul, 2015 12:00am
Oil trend after Iran N-deal
Currency

Oil trend after Iran N-deal

Iranians have a profound reason to celebrate the landmark nuclear deal as it is expected to provide much-needed economic relief to them in the shape of currency stability, a rise in oil income and more importantly connectivity with the global banking syst
Published 22 Jul, 2015 12:00am
Oil trend after Iran N-deal
Currency

Oil trend after Iran N-deal

Iranians have a profound reason to celebrate the landmark nuclear deal as it is expected to provide much-needed economic relief to them in the shape of currency stability, a rise in oil income and more importantly connectivity with the global banking syst
Published 22 Jul, 2015 12:00am
Warsik project approved at rationalised cost

Warsik project approved at rationalised cost

Executive Committee of National Economic Council (ECNEC) has approved Warsik hydroelectric power station at a rationalised cost of Rs 22.254 billion with an FEC of Rs 11.283 billion. According to sources, power generating capacity of Warsik hydel power st
Published 22 Jul, 2015 12:00am
Warsik project approved at rationalised cost

Warsik project approved at rationalised cost

Executive Committee of National Economic Council (ECNEC) has approved Warsik hydroelectric power station at a rationalised cost of Rs 22.254 billion with an FEC of Rs 11.283 billion. According to sources, power generating capacity of Warsik hydel power st
Published 22 Jul, 2015 12:00am
Warsik project approved at rationalised cost

Warsik project approved at rationalised cost

Executive Committee of National Economic Council (ECNEC) has approved Warsik hydroelectric power station at a rationalised cost of Rs 22.254 billion with an FEC of Rs 11.283 billion. According to sources, power generating capacity of Warsik hydel power st
Published 22 Jul, 2015 12:00am
PSO CEO''s appointment: petition to be taken up after summer vacations

PSO CEO''s appointment: petition to be taken up after summer vacations

The Islamabad High Court (IHC) will take up petition filed against appointment of Chief Executive Officer Pakistan State Oil (PSO)-country''s largest oil marketing company--after summer vacations. Prime Minister Nawaz Sharif in May this year approved the
Published 22 Jul, 2015 12:00am
PSO CEO's appointment: petition to be taken up after summer vacations

PSO CEO's appointment: petition to be taken up after summer vacations

The Islamabad High Court (IHC) will take up petition filed against appointment of Chief Executive Officer Pakistan State Oil (PSO)-country's largest oil marketing company--after summer vacations. Prime Minister Nawaz Sharif in May this year approved the a
Published 22 Jul, 2015 12:00am
PSO CEO's appointment: petition to be taken up after summer vacations

PSO CEO's appointment: petition to be taken up after summer vacations

The Islamabad High Court (IHC) will take up petition filed against appointment of Chief Executive Officer Pakistan State Oil (PSO)-country's largest oil marketing company--after summer vacations. Prime Minister Nawaz Sharif in May this year approved the a
Published 22 Jul, 2015 12:00am
Indian corps commander issues threat

Indian corps commander issues threat

Indian army's Lieutenant General KH Singh has warned "certain elements in Pakistan" of "unexpected damages" in the wake of repeated exchanges of fire between Indian and Pakistani border forces along the Line of Control and Working Boundary over the past w
Published 22 Jul, 2015 12:00am
Indian corps commander issues threat

Indian corps commander issues threat

Indian army's Lieutenant General KH Singh has warned "certain elements in Pakistan" of "unexpected damages" in the wake of repeated exchanges of fire between Indian and Pakistani border forces along the Line of Control and Working Boundary over the past w
Published 22 Jul, 2015 12:00am
Modi, Nawaz may meet again soon

Modi, Nawaz may meet again soon

Prime Ministers of India and Pakistan may have another meeting in New York on the sidelines of the United Nations General Assembly (UNGA) in September. Sources in the Indian capital said the meeting depends on the situation along the LOC and Working Bound
Published 22 Jul, 2015 12:00am
Modi, Nawaz may meet again soon

Modi, Nawaz may meet again soon

Prime Ministers of India and Pakistan may have another meeting in New York on the sidelines of the United Nations General Assembly (UNGA) in September. Sources in the Indian capital said the meeting depends on the situation along the LOC and Working Bound
Published 22 Jul, 2015 12:00am
TCP asked to complete 0.15 million tons urea import by September

TCP asked to complete 0.15 million tons urea import by September

The federal government has directed Trading Corporation of Pakistan (TCP) to complete the import of 0.15 million tons of urea within next two months aimed at ensuring timely availability of the commodity in the domestic market. Ahead of expected shortfall
Published 22 Jul, 2015 12:00am
TCP asked to complete 0.15 million tons urea import by September

TCP asked to complete 0.15 million tons urea import by September

The federal government has directed Trading Corporation of Pakistan (TCP) to complete the import of 0.15 million tons of urea within next two months aimed at ensuring timely availability of the commodity in the domestic market. Ahead of expected shortfall
Published 22 Jul, 2015 12:00am
TCP asked to complete 0.15 million tons urea import by September

TCP asked to complete 0.15 million tons urea import by September

The federal government has directed Trading Corporation of Pakistan (TCP) to complete the import of 0.15 million tons of urea within next two months aimed at ensuring timely availability of the commodity in the domestic market. Ahead of expected shortfall
Published 22 Jul, 2015 12:00am
US stocks tumble

US stocks tumble

US stocks fell on Tuesday in the wake of results from IBM and United Technologies that dampened early optimism over earnings season ahead of quarterly profits from tech giants including Apple and Microsoft. The Dow fell 1 percent, with IBM and United Tech
Published 22 Jul, 2015 12:00am
Three Spain journalists missing in Syria

Three Spain journalists missing in Syria

Three Spanish freelance journalists have gone missing in Syria where they were reporting from the north-western Aleppo region, the head of a Spanish press federation said on Tuesday. Jose Manuel Lopez, Antonio Pampliega and Angel Sastre entered Syria via
Published 22 Jul, 2015 12:00am
US places 4 Hezbollah figures on sanctions blacklist

US places 4 Hezbollah figures on sanctions blacklist

The US Treasury imposed sanctions on three Hezbollah military officials and a businessman tied to the group on Tuesday, citing their support for the regime of Syrian President Bashar al-Assad. The Treasury named Mustafa Badr Al Din, said to be in charge o
Published 22 Jul, 2015 12:00am
Zardari chairs PPP meeting in Dubai

Zardari chairs PPP meeting in Dubai

Pakistan People's Party (PPP) co-chairman Asif Ali Zardari has called a meeting in Dubai to discuss party affairs. The meeting will deliberate over shifting of departments among cabinet's ministers. The members will also discuss the matter of woman member
Published 22 Jul, 2015 12:00am
Citigroup to pay $770m for credit card abuses
Currency

Citigroup to pay $770m for credit card abuses

Citigroup must pay $700 million to customers and another $70 million in federal fines for misleading consumers on credit card add-on products, US regulators announced Tuesday. The $700 million is intended to compensate nearly nine million account holders
Published 22 Jul, 2015 12:00am
Monsoon rain lashes Karachi

Monsoon rain lashes Karachi

Weather in city turned pleasant after various parts of the metropolis received moderate rain with strong winds late on Tuesday night. The first monsoon spell hit Nazimabad, Kashmir Colony, Akhtar Colony, Mehmoodabad, Lyari, Saddar, Old City Area, Korangi,
Published 22 Jul, 2015 12:00am
Prime Minister to visit flood-hit Chitral today

Prime Minister to visit flood-hit Chitral today

Prime Minister Nawaz Sharif is all set to visit flood-hit areas of Chitral on Wednesday. At the same time Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan along with his wife Reham Khan is also scheduled to embark upon a two-day visit to Chitral on Wedn
Published 22 Jul, 2015 12:00am
Iran's Zarif defends 'balanced' N-deal to MPs

Iran's Zarif defends 'balanced' N-deal to MPs

Iran's foreign minister defended Tuesday what he said was a "balanced" nuclear deal with world powers, telling lawmakers there was a need to accept the negotiations had required compromise. In a speech to parliament Mohammad Javad Zarif emphasised that la
Published 22 Jul, 2015 12:00am
Iran's Zarif defends 'balanced' N-deal to MPs

Iran's Zarif defends 'balanced' N-deal to MPs

Iran's foreign minister defended Tuesday what he said was a "balanced" nuclear deal with world powers, telling lawmakers there was a need to accept the negotiations had required compromise. In a speech to parliament Mohammad Javad Zarif emphasised that la
Published 22 Jul, 2015 12:00am
Toshiba president, others quit over $1.2 billion scandal

Toshiba president, others quit over $1.2 billion scandal

Toshiba Corp''s chief executive Hisao Tanaka and a string of other senior officials resigned on Tuesday for their roles in the country''s biggest accounting scandal in years. Tanaka will be temporarily replaced by Chairman Masashi Muromachi after an indep
Published 22 Jul, 2015 12:00am
Toshiba president, others quit over $1.2 billion scandal

Toshiba president, others quit over $1.2 billion scandal

Toshiba Corp's chief executive Hisao Tanaka and a string of other senior officials resigned on Tuesday for their roles in the country's biggest accounting scandal in years. Tanaka will be temporarily replaced by Chairman Masashi Muromachi after an indepen
Published 22 Jul, 2015 12:00am
Toshiba president, others quit over $1.2 billion scandal

Toshiba president, others quit over $1.2 billion scandal

Toshiba Corp's chief executive Hisao Tanaka and a string of other senior officials resigned on Tuesday for their roles in the country's biggest accounting scandal in years. Tanaka will be temporarily replaced by Chairman Masashi Muromachi after an indepen
Published 22 Jul, 2015 12:00am
Mumbai bomb 'plotter' on death row loses final appeal

Mumbai bomb 'plotter' on death row loses final appeal

India's top court on Tuesday rejected a final appeal by Yakub Memon, a key `plotter' of bomb attacks that killed hundreds in Mumbai in 1993, paving the way for his execution. Media reports said Yakub Memon would hang on July 30 - more than two decades aft
Published 22 Jul, 2015 12:00am
Mumbai bomb 'plotter' on death row loses final appeal

Mumbai bomb 'plotter' on death row loses final appeal

India's top court on Tuesday rejected a final appeal by Yakub Memon, a key `plotter' of bomb attacks that killed hundreds in Mumbai in 1993, paving the way for his execution. Media reports said Yakub Memon would hang on July 30 - more than two decades aft
Published 22 Jul, 2015 12:00am
Basit for resolving Kashmir issue through talks

Basit for resolving Kashmir issue through talks

Pakistan High Commissioner to India Abdul Basit on Tuesday while calling for resolving issues between New Delhi and Islamabad through talks said that he hoped both the countries will move from 'confrontation to co-operation' in coming days. Speaking durin
Published 22 Jul, 2015 12:00am
Basit for resolving Kashmir issue through talks

Basit for resolving Kashmir issue through talks

Pakistan High Commissioner to India Abdul Basit on Tuesday while calling for resolving issues between New Delhi and Islamabad through talks said that he hoped both the countries will move from 'confrontation to co-operation' in coming days. Speaking durin
Published 22 Jul, 2015 12:00am
New $100 billion BRICS bank opens to irk US-led lenders
Currency

New $100 billion BRICS bank opens to irk US-led lenders

A new $100 billion international bank dedicated to the emerging BRICS countries opened in China''s commercial hub Shanghai on Tuesday, officials said, as an alternative to other multilateral lenders. The "New Development Bank", backed by the so-called eme
Published 22 Jul, 2015 12:00am
New $100 billion BRICS bank opens to irk US-led lenders
Currency

New $100 billion BRICS bank opens to irk US-led lenders

A new $100 billion international bank dedicated to the emerging BRICS countries opened in China's commercial hub Shanghai on Tuesday, officials said, as an alternative to other multilateral lenders. The "New Development Bank", backed by the so-called emer
Published 22 Jul, 2015 12:00am
New $100 billion BRICS bank opens to irk US-led lenders
Currency

New $100 billion BRICS bank opens to irk US-led lenders

A new $100 billion international bank dedicated to the emerging BRICS countries opened in China's commercial hub Shanghai on Tuesday, officials said, as an alternative to other multilateral lenders. The "New Development Bank", backed by the so-called emer
Published 22 Jul, 2015 12:00am
Prime Minister, CoAS for gearing up relief work

Prime Minister, CoAS for gearing up relief work

Prime Minister Nawaz Sharif has instructed National Disaster Management Authority (NDMA) to gear up relief activities, as flash floods hit various low-lying areas in different parts of the country. According to a spokesperson for the PM House, the Prime M
Published 22 Jul, 2015 12:00am
Prime Minister, CoAS for gearing up relief work

Prime Minister, CoAS for gearing up relief work

Prime Minister Nawaz Sharif has instructed National Disaster Management Authority (NDMA) to gear up relief activities, as flash floods hit various low-lying areas in different parts of the country. According to a spokesperson for the PM House, the Prime M
Published 22 Jul, 2015 12:00am
KP chief minister approves Rs 140 million

KP chief minister approves Rs 140 million

Khyber Pakhtunkhwa Minister for Information, Mushtaq Ahmad Ghani Tuesday said that Chief Minister Pervez Khattak has approved an amount of Rs.140 million for carrying out relief operation in the rain- and flood- affected district Chitral. Briefing media h
Published 22 Jul, 2015 12:00am
KP chief minister approves Rs 140 million

KP chief minister approves Rs 140 million

Khyber Pakhtunkhwa Minister for Information, Mushtaq Ahmad Ghani Tuesday said that Chief Minister Pervez Khattak has approved an amount of Rs.140 million for carrying out relief operation in the rain- and flood- affected district Chitral. Briefing media h
Published 22 Jul, 2015 12:00am
Over 200 villages submerged in southern Punjab

Over 200 villages submerged in southern Punjab

More than two hundred villages have submerged in flood water of Indus in Rajanpur,DG Khan, Layyah and Muzaffargarh and the residents of low-lying areas are being shifted to safe locations. On the other hand, torrential rains and flash floods have hit vari
Published 22 Jul, 2015 12:00am
Over 200 villages submerged in southern Punjab

Over 200 villages submerged in southern Punjab

More than two hundred villages have submerged in flood water of Indus in Rajanpur,DG Khan, Layyah and Muzaffargarh and the residents of low-lying areas are being shifted to safe locations. On the other hand, torrential rains and flash floods have hit vari
Published 22 Jul, 2015 12:00am
The Weather

The Weather

The weather report on Tuesday (July 21, 2015) and the forecast for Wednesday (July 22, 2015).

Published 22 Jul, 2015 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 22 Jul, 2015 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 22 Jul, 2015 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 22 Jul, 2015 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 22 Jul, 2015 12:00am
China's distillers' grain imports at record high

China's distillers' grain imports at record high

Chinese imports of distillers' grains (DDGS) rose 60.5 percent in June from a year earlier to a record 959,935 tonnes due to robust domestic demand for the protein-rich animal feed ingredient, official customs data showed on Tuesday. China is the world's
Published 22 Jul, 2015 12:00am
Philippines passes new laws to boost shipping competition

Philippines passes new laws to boost shipping competition

Philippine President Benigno Aquino on Tuesday signed off on legislation to open up the shipping sector and encourage more competition in the cloistered industry. A new statute will provide greater access for international firms to the Philippines' shippi
Published 22 Jul, 2015 12:00am
Greek PM rallies Syriza backing before bailout vote
Currency

Greek PM rallies Syriza backing before bailout vote

Greek Prime Minister Alexis Tsipras tried to rally his leftwing Syriza party on Tuesday ahead of a vote in parliament on the second package of measures demanded by international creditors as a condition for opening talks on a new bailout deal. Tsipras has
Published 22 Jul, 2015 12:00am
United Technologies hit by Chinese building stall

United Technologies hit by Chinese building stall

Industrial giant United Technologies slashed its 2015 earnings forecast Tuesday due to the sharp slowdown in China's real estate sector and disappointing aviation parts sales. Key areas of weakness included the Otis elevator business, which suffered from
Published 22 Jul, 2015 12:00am
China's FDI up in January-June on M&A

China's FDI up in January-June on M&A

Foreign investment into China rose 8.0 percent in the first half of this year as mergers and acquisitions by overseas companies more than quadrupled in value, the commerce ministry said Tuesday. Foreign direct investment (FDI), which excludes financial se
Published 22 Jul, 2015 12:00am
Osborne tightens screws on government spending plans

Osborne tightens screws on government spending plans

Britain's finance minister George Osborne launched a new front in his austerity push on Tuesday as he challenged some government departments to find spending cuts of up to 40 percent by the end of the decade. Osborne said he would announce on November 25
Published 22 Jul, 2015 12:00am
India's Infosys posts rise in profits

India's Infosys posts rise in profits

Indian software giant Infosys Technologies reported a five percent rise in quarterly net profits on Tuesday, aided by a weak rupee and strong demand from the United States. The country's second largest IT services exporter said profits for April to June n
Published 22 Jul, 2015 12:00am
India's Infosys posts rise in profits

India's Infosys posts rise in profits

Indian software giant Infosys Technologies reported a five percent rise in quarterly net profits on Tuesday, aided by a weak rupee and strong demand from the United States. The country's second largest IT services exporter said profits for April to June n
Published 22 Jul, 2015 12:00am
US miles travelled rise to record on low prices

US miles travelled rise to record on low prices

US drivers took advantage of low gasoline prices because of a drop in oil prices, travelling a record number of miles in the first five months of the year, according to government data. Travel on streets and roads rose in May by 2.7 percent from a year ag
Published 22 Jul, 2015 12:00am
IBM revenue falls
Currency

IBM revenue falls

International Business Machines Corp's revenue fell for the 13th consecutive quarter and missed the average analyst estimate, as it continued to shed low-margin businesses and the strong dollar weighed on Big Blue's results. Shares of the world's largest
Published 22 Jul, 2015 12:00am
IBM revenue falls
Currency

IBM revenue falls

International Business Machines Corp's revenue fell for the 13th consecutive quarter and missed the average analyst estimate, as it continued to shed low-margin businesses and the strong dollar weighed on Big Blue's results. Shares of the world's largest
Published 22 Jul, 2015 12:00am
Japan's business mood subdued on uncertainty over China

Japan's business mood subdued on uncertainty over China

Confidence at Japanese manufacturers in July was subdued and the service sector mood dimmed the most in over a year, a Reuters poll showed, reflecting worries about sluggish consumption and exports as growth cools in major trading partner China. The Reute
Published 22 Jul, 2015 12:00am
Hungary cuts interest rate to record low
Currency

Hungary cuts interest rate to record low

Hungary's central bank on Tuesday cut its main interest rate to a record low of 1.35 percent from 1.5 percent, before calling an end to the second of two easing cycles since 2012. The MNB cut the base rate for 24 consecutive months from August 2012 when t
Published 22 Jul, 2015 12:00am
HRW wheat bids steady

HRW wheat bids steady

Spot basis bids for hard red winter wheat held steady in the southern US Plains on Monday, underpinned by mostly quiet farmer selling as K.C. September winter wheat futures fell for a 10th straight session, dealers said. Some producers were storing much o
Published 22 Jul, 2015 12:00am
China's June sugar imports nearly triple

China's June sugar imports nearly triple

China's sugar imports in June nearly tripled from the same month a year ago to 239,673 tonnes as buyers took advantage of cheap global prices, customs data showed on Tuesday. China, one of the world's top sugar importers, has boosted its buying this year
Published 22 Jul, 2015 12:00am
Asian naphtha crack slips; China's imports at new high

Asian naphtha crack slips; China's imports at new high

Asia's naphtha crack slipped 4 percent to $81.13 a tonne on Tuesday after a 30 percent spike in the previous session. Traders looked past the marginal fall in value and focused instead on possibly fewer European and Mediterranean cargoes arriving in the E
Published 22 Jul, 2015 12:00am
Vietnamese coffee premiums rise; domestic prices fall

Vietnamese coffee premiums rise; domestic prices fall

Premiums on Vietnamese coffee to robusta futures rose this week as domestic prices fell to near a seven-week low, while buying demand weakened, traders said on Tuesday. Robusta futures were firm on Monday after buy orders were triggered and a one-minute s
Published 22 Jul, 2015 12:00am
European wheat prices drop on US markets fall

European wheat prices drop on US markets fall

European wheat prices dropped on Monday after a fall on US markets and as investors took a breather after a sharp rise the previous week, traders said. December milling wheat, the new-crop benchmark on Euronext, was down 1.3 percent by 1530 GMT at 193.00
Published 22 Jul, 2015 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures fell on Monday for the fifth time in six sessions, pressured by weekend rains that eased dryness concerns in parts of the Canadian Prairies and weakness in soybeans. November canola lost $4.50 to $516.90 per tonne. November-Jan
Published 22 Jul, 2015 12:00am
US FOB Gulf wheat export premiums flat

US FOB Gulf wheat export premiums flat

US Gulf wheat export premiums were flat on Monday on weak demand for US supplies and lower futures prices, while corn and soyabean premiums held mostly steady, traders said. Egypt's GASC set a tender to buy wheat for shipment September 1-10. Results are e
Published 22 Jul, 2015 12:00am
Drought to cut Thai rice output by 10 percent

Drought to cut Thai rice output by 10 percent

Drought conditions in Thailand may cut the country's main rice crop by as much as 10 percent, the Thai Rice Exporters Association said on Tuesday. Though drought has eased in the world's second-biggest rice exporting nation, widespread dry conditions earl
Published 22 Jul, 2015 12:00am
CBOT wheat futures fall over 3 percent

CBOT wheat futures fall over 3 percent

Chicago Board of Trade wheat futures fell more than 3 percent on Monday and neared a one-month low on strength in the US dollar and improving harvest weather in the US Midwest, traders said. Forecasts called for a welcome break in precipitation in the US
Published 22 Jul, 2015 12:00am
Chinese imports of distillers' grain at record high in June

Chinese imports of distillers' grain at record high in June

Chinese imports of distillers' grains (DDGS) rose 60.5 percent in June from a year earlier to a record 959,935 tonnes due to robust domestic demand for the protein-rich animal feed ingredient, official customs data showed on Tuesday. China is the world's
Published 22 Jul, 2015 12:00am
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