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Feb 16, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-08-16
George Soros sells off most of his Alibaba stocks

George Soros sells off most of his Alibaba stocks

American billionaire George Soros's fund has sold most of its stake in the Chinese e-commerce giant Alibaba, according to regulatory filings Friday. In its quarterly statement to the US Securities and Exchange Commission, Soros Funds Management said that
Published 16 Aug, 2015 12:00am
India pulls gates on Sutlej: five villages inundated in Kasur

India pulls gates on Sutlej: five villages inundated in Kasur

Flood water Saturday entered in as many as five villages as torrent of about 55,000 cusecs is passing at Ganda Singh point after India pulled gates of River Sutlej. Water level has risen to at least 19 feet and 3,000 acres land is inundated. District admi
Published 16 Aug, 2015 12:00am
Sarwar warns ministers against defaming army

Sarwar warns ministers against defaming army

Pakistan Tehreek-e-Insaf Punjab Organiser Chaudhary Mohammad Sarwar has claimed that his party's politics is with the support of people and not with the help of an "institution". On Saturday he said ruling party ministers should wake up and stops defaming
Published 16 Aug, 2015 12:00am
LCCI elections PITAF finalises strategy

LCCI elections PITAF finalises strategy

The Pakistan Industrial and Traders Associations Front (PITAF) has finalised its strategy for the upcoming elections of the Lahore Chamber of Commerce and Industry scheduled for September 21 and 22. It has told its members to submit applications by next w
Published 16 Aug, 2015 12:00am
Canadian Pakistani acquires largest yarn distribution company

Canadian Pakistani acquires largest yarn distribution company

A Canadian Pakistani has acquired Canada largest yarn distribution company namely Diamond Yarn of Canada. Diamond Yarn of Canada dominates in the Canadian yarn market and presently operating two large warehouses in Toronto and Montreal. This acquisition w
Published 16 Aug, 2015 12:00am
SECP Board discusses policy matters, issues

SECP Board discusses policy matters, issues

A meeting of the Securities and Exchange Policy Board was held at the SECP head office in Islamabad to consider various policy matters and issues brought to its consideration. Federal Secretary, Finance and Revenue and Chairman, SECP Policy Board, Dr Waqa
Published 16 Aug, 2015 12:00am
Proposal to cut VCs' tenure condemned

Proposal to cut VCs' tenure condemned

The Federation of All Pakistan Academic Staff Associations has urged the Punjab chief minister and the higher education secretary not to peruse the proposal to cut vice chancellors tenure from four years to two years while terming it "a conspiracy of the
Published 16 Aug, 2015 12:00am
Dr Khalid calls on Punjab Governor

Dr Khalid calls on Punjab Governor

Principal Post Graduate Medical Institute & Ameer ud Din Medical College, Professor of Neuro Surgery Dr Khalid Mahmood on Saturday called on Punjab Governor Malik Muhammad Rafique Rajwana at Governor House. Professor Khalid Mahmood apprised the Governor a
Published 16 Aug, 2015 12:00am
NBP holds flag- hoisting ceremony

NBP holds flag- hoisting ceremony

In commemoration of Pakistan Independence Day, a flag hoisting ceremony was held at NBP head Office building. The flag was hoisted by Syed Iqbal Ashraf, President/CEO-NBP along with Khalid Bin Shaheen, SEVP/Group Chief and Media Chief, Masood Karim Shaikh
Published 16 Aug, 2015 12:00am
ISIS has no role in held Kashmir: UJC

ISIS has no role in held Kashmir: UJC

Conglomerate of militant outfits, United Jihad Council (UJC) has said that there is no role of ISIS in Kashmir Valley. In a statement to CNS, spokesperson UJC Syed Sadaqat Hussain said that a high level meeting was called under the chairmanship of Conglom
Published 16 Aug, 2015 12:00am
PAT seeks action against Mashahidullah under Article 6

PAT seeks action against Mashahidullah under Article 6

Pakistan Awami Tehreek Secretary General, Khurram Nawaz Gandapur has said the resignation of Senator Mashahidullah Khan and the government's rejection of his statement is not enough as his crime comes under the ambit of Article 6 of the Constitution.
Published 16 Aug, 2015 12:00am
1st Hajj flight from Multan on August 21

1st Hajj flight from Multan on August 21

The 1st Haj flight, carrying intending pilgrims, will leave for Saudi Arabia from Multan International Airport on August 21. Director Hajj Multan Rehan Khan while talking to official news agency on Saturday informed that a total of 8100 intending pilgrims
Published 16 Aug, 2015 12:00am
1st Hajj flight from Multan on August 21

1st Hajj flight from Multan on August 21

The 1st Haj flight, carrying intending pilgrims, will leave for Saudi Arabia from Multan International Airport on August 21. Director Hajj Multan Rehan Khan while talking to official news agency on Saturday informed that a total of 8100 intending pilgrims
Published 16 Aug, 2015 12:00am
Lease agreement expired: WBDC being shifted to IMSciences Hayatabad

Lease agreement expired: WBDC being shifted to IMSciences Hayatabad

Small and Medium Enterprise Development Authority (Smeda) is shifting Women Business Development Centre (WBDC) to IMSciences Hayatabad after the refusal of the Social Welfare Department of Khyber Pakhtunkhwa to either adopt the project by itself or extend
Published 16 Aug, 2015 12:00am
Four sanitary workers suffocated to death

Four sanitary workers suffocated to death

Four sanitary workers were suffocated to death when they entered the manhole to clear the sewer line in Muzaffargarh city. They were identified as Mureed Hussain (18) Amer Abbas (20) Abid Hussain (25) and Muhammad Shaukat (25). Their relatives blocked the
Published 16 Aug, 2015 12:00am
KP Assembly passes 89 Acts

KP Assembly passes 89 Acts

Khyber Pakhtunkhwa Minister for Information, Mushtaq Ahmad Ghani has said that the PTI government for provision of relief to the people has passed about 89 legislations from assembly. He was addressing a function held in connections with Independence Day
Published 16 Aug, 2015 12:00am
PFA seals numerous food outlets

PFA seals numerous food outlets

The Punjab Food Authority (PFA) has inspected bakers and hotels and fined numerous outlets after sealing them off because of unhygienic conditions, improper labelling and dirty utensils. On Saturday, authority teams, under the supervision of Operations Di
Published 16 Aug, 2015 12:00am
Drug Act 1976: PPMA decides to challenge amendments

Drug Act 1976: PPMA decides to challenge amendments

Pakistan Pharmaceutical Manufacturers Association (PPMA) has termed the Punjab government's amendments in the Drug Act 1976 through an ordinance "sheer injustice" and decided to challenge it in the court. Association representatives that include Chairman
Published 16 Aug, 2015 12:00am
Nawaz felicitates Modi on Independence Day

Nawaz felicitates Modi on Independence Day

Prime Minister of Pakistan Muhammad Nawaz Sharif has felicitated Indian Prime Minister on their Independence Day on Saturday. The Prime Minister of India had yesterday felicitated the Prime Minister on the Independence Day of Pakistan which was celebrated
Published 16 Aug, 2015 12:00am
10 die as vehicle falls into ravine

10 die as vehicle falls into ravine

Ten commuters including four members of the same family died and four were injured critically when a commuter vehicle fell into hundreds feet deep ravine in Batila, area of Tehsil Alai, district Battagram. The victims were included two women and three chi
Published 16 Aug, 2015 12:00am
JI condemns Kabul terror attacks

JI condemns Kabul terror attacks

Provincial chief Jamaat-e-Islami (JI), Khyber Pakhtunkhwa, Professor Mohammad Ibrahim Khan has said that those creating misunderstanding between Pakistan and Afghanistan are joint enemy of both countries. In a statement issued here from Al-Markaz-e-Islami
Published 16 Aug, 2015 12:00am
Most of tax-related demands accepted: FPCCI chief

Most of tax-related demands accepted: FPCCI chief

Most of the tax-related demands of business community have been accepted and the stalemate is expected to be resolved very soon, said Mian Muhammad Adrees President Federation of Pakistan Chambers of Commerce and Industry (FPCCI). Addressing a function in
Published 16 Aug, 2015 12:00am
Government hurling baseless accusations against PTI: Mazari

Government hurling baseless accusations against PTI: Mazari

Pakistan Tehreek-e-Insaf (PTI) Chairman's spokesperson, Dr Shireen Mazari on Saturday said the government is continuously hurling baseless accusations against PTI over its peaceful sit-protest outside the Parliament last year, trying to link it to some gr
Published 16 Aug, 2015 12:00am
Seven-star Herath spins Sri Lanka to dramatic win

Seven-star Herath spins Sri Lanka to dramatic win

Veteran left-arm spinner Rangana Herath grabbed seven wickets as Sri Lanka stunned India by 63 runs in a thrilling first Test in Galle on Saturday. The tourists, set a victory target of 176 runs, were skittled for 112 in their second innings after lunch o
Published 16 Aug, 2015 12:00am
Djokovic reaches semis, Nishikori finally solves Nadal

Djokovic reaches semis, Nishikori finally solves Nadal

Novak Djokovic had to fight off an upset bid from qualifier Ernests Gulbis, defeating the Latvian 5-7, 7-6 (9/7), 6-1 on Friday to reach the semi-finals of the Montreal Masters. But Rafael Nadal, like Djokovic a former champion at the event, was unable to
Published 16 Aug, 2015 12:00am
Serena Williams dominates Vinci to reach Toronto semis

Serena Williams dominates Vinci to reach Toronto semis

World number one Serena Williams continued her march towards her fourth Toronto title Friday with a 6-4, 6-3 dismantling of Italy's Roberta Vinci in the quarter-finals of the WTA Rogers Cup. The 33-year-old Williams extended her Toronto match win streak t
Published 16 Aug, 2015 12:00am
Brighton leave it late to snatch pole position

Brighton leave it late to snatch pole position

Brighton left it late to move to the top of the Championship as Tomer Hemed's stoppage-time penalty clinched a dramatic 2-1 victory against Fulham on Saturday. Chris Hughton's side had taken the lead when Sam Baldock swept home Bruno Saltor's pass in the
Published 16 Aug, 2015 12:00am
PCB should invest in U19 players: Wasim Akram

PCB should invest in U19 players: Wasim Akram

Former cricketer Wasim Akram believes Pakistan Cricket Board (PCB) must invest in the Under-19 players saying cricket greats Ramiz Raja, Shoaib Mohammad, Basit Ali, Amir Sohail, Inzamam, Mushtaq Ahmed and Waqar Younis are product of U19 cricket. Wasim, wh
Published 16 Aug, 2015 12:00am
Football returns in FIFA-suspended Indonesia

Football returns in FIFA-suspended Indonesia

Despite being under a FIFA suspension, domestic football returned to Indonesia on Saturday after intervention from President Joko Widodo led to the introduction of two new tournaments. Persekap Pasuruan kicked off the 24-team Independence Cup with a 2-0 w
Published 16 Aug, 2015 12:00am
Rescue, Army to play friendly cricket match on Sunday

Rescue, Army to play friendly cricket match on Sunday

A friendly cricket match will be played between Rescue 1122 Eleven and Army Eleven in Kacha Khoh, on August 16 (Sunday) to mark the Independence Day celebrations. Brigadier Abid Baloch will lead Army Eleven while District Emergency officer Dr Ejaz Anjum w
Published 16 Aug, 2015 12:00am
Barca thrashed 4-0 by Aduriz-inspired Athletic

Barca thrashed 4-0 by Aduriz-inspired Athletic

European champions Barcelona were stunned by an Aritz Aduriz hat-trick and brilliant opener from Mikel San Jose as Athletic Bilbao took a 4-0 lead into the second-leg of the Spanish Super Cup. Barca had picked up their fourth trophy of the year in Tbilisi
Published 16 Aug, 2015 12:00am
Encouraging US data support dollar, euro slips
Currency

Encouraging US data support dollar, euro slips

The dollar inched up on Friday against a basket of currencies on encouraging data on US producer prices and industrial output, while the euro ended a good week on a weak note even as the Greek parliament approved a new bailout agreement. The greenback sta
Published 16 Aug, 2015 12:00am
Thirty years on, treasury bond with 10 percent coupon bows out a star

Thirty years on, treasury bond with 10 percent coupon bows out a star

Few things from 1985 achieved lasting fame and universal acclaim. One of them is the highest-paying US government bond, which easily outlasted 'new Coke," Commodore's Amiga computer, power suits and big hair. The last US Treasury with a 10 percent coupon,
Published 16 Aug, 2015 12:00am
Thirty years on, treasury bond with 10 percent coupon bows out a star

Thirty years on, treasury bond with 10 percent coupon bows out a star

Few things from 1985 achieved lasting fame and universal acclaim. One of them is the highest-paying US government bond, which easily outlasted 'new Coke," Commodore's Amiga computer, power suits and big hair. The last US Treasury with a 10 percent coupon,
Published 16 Aug, 2015 12:00am
Petrobras to refinance 6 billion reais tax bill with government

Petrobras to refinance 6 billion reais tax bill with government

State-controlled Petraleo Brasileiro SA agreed on Friday to refinance an outstanding 6 billion reais ($1.7 billion) tax debt with the Brazilian government, allowing the debt-laden oil producer to restructure an onerous liability. Under terms of the plan,
Published 16 Aug, 2015 12:00am
Petrobras to refinance 6 billion reais tax bill with government

Petrobras to refinance 6 billion reais tax bill with government

State-controlled Petraleo Brasileiro SA agreed on Friday to refinance an outstanding 6 billion reais ($1.7 billion) tax debt with the Brazilian government, allowing the debt-laden oil producer to restructure an onerous liability. Under terms of the plan,
Published 16 Aug, 2015 12:00am
India names private sector bosses to shake up two state banks

India names private sector bosses to shake up two state banks

India has brought in private sector executives to run two of its largest state-owned banks, the first such appointments and part of a bold reform plan aimed at shaking up the country's dominant but bloated and often inefficient government lenders. The two
Published 16 Aug, 2015 12:00am
Argentine's Scioli defends central bank currency controls
Currency

Argentine's Scioli defends central bank currency controls

Argentine ruling party presidential candidate Daniel Scioli defended the central bank's control of the exchange rate on Saturday, saying it was necessary to avoid foreign exchange volatility. Scioli's comments came two days after his main rival said he wo
Published 16 Aug, 2015 12:00am
Canadian dollar retreats as data disappoints, markets calmed
Currency

Canadian dollar retreats as data disappoints, markets calmed

The Canadian dollar slipped against the greenback on Friday, as calm returned to markets following a volatile trading week and investors digested US and Canadian data that underscored the divergence between the countries' central banks. In Canada, manufac
Published 16 Aug, 2015 12:00am
First BoE rate hike still seen in Q1 but conviction wavering

First BoE rate hike still seen in Q1 but conviction wavering

The Bank of England is still expected to raise interest rates from a record low 0.5 percent early next year, but economists' conviction is wavering as domestic inflation and global growth remain muted, a Reuters poll found. Even a first-quarter hike would
Published 16 Aug, 2015 12:00am
Wall Street edges up after upbeat data, Greek bailout agreement
Currency

Wall Street edges up after upbeat data, Greek bailout agreement

US stocks ended a volatile week higher on Friday after upbeat US economic data and as euro zone finance ministers agreed to launch a third bailout program for Greece. All three major indexes also ended the week with slight gains, bouncing back from losses
Published 16 Aug, 2015 12:00am
Financial services flavour to European LBO line-up

Financial services flavour to European LBO line-up

Several large European LBO bonds are expected to launch after the August break, with deals from financial firms such as Lowell, Leaseplan and ICBPI all on the slate. Bankers say more large deals are likely to hit the market in September and October. "It w
Published 16 Aug, 2015 12:00am
Financial services flavour to European LBO line-up

Financial services flavour to European LBO line-up

Several large European LBO bonds are expected to launch after the August break, with deals from financial firms such as Lowell, Leaseplan and ICBPI all on the slate. Bankers say more large deals are likely to hit the market in September and October. "It w
Published 16 Aug, 2015 12:00am
Buffett's Berkshire sheds two stocks, hints at new purchase

Buffett's Berkshire sheds two stocks, hints at new purchase

Warren Buffett's Berkshire Hathaway Inc has eliminated its stakes in National Oilwell Varco Inc and Phillips 66, and on Friday signaled it may have another large investment in the works. The changes were disclosed in a filing with the US Securities and Ex
Published 16 Aug, 2015 12:00am
TSX gains, but resource stocks still in funk

TSX gains, but resource stocks still in funk

Canada's main stock index gained on Friday, but the rise was limited by continued weakness in mining and oil and gas shares. Eight of the 10 main sectors on the Toronto Stock Exchange's S&P/TSX composite index advanced, though advancers barely outnumbered
Published 16 Aug, 2015 12:00am
Kansas tops US municipal bond calendar with $1 billion pension deal

Kansas tops US municipal bond calendar with $1 billion pension deal

Kansas will offer $1 billion of taxable pension bonds in the US municipal market next week in a move that could make investors skittish given a recent default on some bonds in Puerto Rico and credit ratings downgrades in Chicago. Debt service on the bonds
Published 16 Aug, 2015 12:00am
Kansas tops US municipal bond calendar with $1 billion pension deal

Kansas tops US municipal bond calendar with $1 billion pension deal

Kansas will offer $1 billion of taxable pension bonds in the US municipal market next week in a move that could make investors skittish given a recent default on some bonds in Puerto Rico and credit ratings downgrades in Chicago. Debt service on the bonds
Published 16 Aug, 2015 12:00am
ING presses Poland's JSW to buy back some of its bonds

ING presses Poland's JSW to buy back some of its bonds

ING Bank Slaski, the only private debtholder of Polish troubled coking coal producer JSW, is pressing the miner to buy back some of its bonds in the near term, Puls Biznesu daily reported on Friday quoting sources close to the bank. JSW, which is grapplin
Published 16 Aug, 2015 12:00am
ING presses Poland's JSW to buy back some of its bonds

ING presses Poland's JSW to buy back some of its bonds

ING Bank Slaski, the only private debtholder of Polish troubled coking coal producer JSW, is pressing the miner to buy back some of its bonds in the near term, Puls Biznesu daily reported on Friday quoting sources close to the bank. JSW, which is grapplin
Published 16 Aug, 2015 12:00am
Hedge funds added Apple shares in second quarter, filings show

Hedge funds added Apple shares in second quarter, filings show

Top US hedge funds added to their positions in Apple Inc during the second quarter, ahead of a decline in the value of shares of the iPhone maker. Filings with the US Securities and Exchange Commission released on Friday showed Philippe Laffont's Coatue M
Published 16 Aug, 2015 12:00am
Hedge funds added Apple shares in second quarter, filings show

Hedge funds added Apple shares in second quarter, filings show

Top US hedge funds added to their positions in Apple Inc during the second quarter, ahead of a decline in the value of shares of the iPhone maker. Filings with the US Securities and Exchange Commission released on Friday showed Philippe Laffont's Coatue M
Published 16 Aug, 2015 12:00am
Suffering lower profits, German power supplier RWE revamps

Suffering lower profits, German power supplier RWE revamps

RWE, Germany's second-biggest power supplier, hit by sinking profits as the country ramps up renewable energy use, approved plans Monday for a corporate overhaul. The company said it would by January 2017 slash its number of limited-liability subsidiaries
Published 16 Aug, 2015 12:00am
Suffering lower profits, German power supplier RWE revamps

Suffering lower profits, German power supplier RWE revamps

RWE, Germany's second-biggest power supplier, hit by sinking profits as the country ramps up renewable energy use, approved plans Monday for a corporate overhaul. The company said it would by January 2017 slash its number of limited-liability subsidiaries
Published 16 Aug, 2015 12:00am
Global M&A activity surges towards record high

Global M&A activity surges towards record high

Global mergers and acquisitions (M&A) have climbed close to a record high this year, accelerated by a trio of multibillion-dollar deals in the US, Thomson Reuters data showed. The largest of these was Warren Buffet's $30 billion-plus purchase of Precision
Published 16 Aug, 2015 12:00am
Japan Post's $11 billion triple listing expected in November

Japan Post's $11 billion triple listing expected in November

Japan Post Holdings Co is expected to list shares in its holding company and bank and insurance units on November 4, several people close to the deal said on Friday, in Japan's biggest sale of state-owned enterprises in nearly three decades. The governmen
Published 16 Aug, 2015 12:00am
China to stabilise stock market for 'number of years'
Currency

China to stabilise stock market for 'number of years'

China's market regulator vowed to stabilise the volatile stock market for a "number of years", saying a state-backed company tasked with buying shares will have an enduring role. "For a number of years to come, the China Securities Finance Corp will not e
Published 16 Aug, 2015 12:00am
New Zealand's Carter Holt Harvey trims IPO plan

New Zealand's Carter Holt Harvey trims IPO plan

New Zealand wood products company Carter Holt Harvey (CHH), owned by the country's richest man, Graeme Hart, on Friday said it had revived a plan for a share float but has trimmed its scope and excluded Australian assets. CHH put an offer estimated to be
Published 16 Aug, 2015 12:00am
New Zealand's Carter Holt Harvey trims IPO plan

New Zealand's Carter Holt Harvey trims IPO plan

New Zealand wood products company Carter Holt Harvey (CHH), owned by the country's richest man, Graeme Hart, on Friday said it had revived a plan for a share float but has trimmed its scope and excluded Australian assets. CHH put an offer estimated to be
Published 16 Aug, 2015 12:00am
CBOT soybeans fall on improving US weather, prospects
Currency

CBOT soybeans fall on improving US weather, prospects

Soybean futures on the Chicago Board of Trade fell Friday for the fifth session in the last six as forecasts for welcome rains next week in the US Midwest bolstered crop prospects, traders said. The forecasts pressed a market still reeling from worries ab
Published 16 Aug, 2015 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (August 15, 2015).

Published 16 Aug, 2015 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (August 15, 2015).

Published 16 Aug, 2015 12:00am
THE RUPEE: slight fall
Currency

THE RUPEE: slight fall

The rupee fell modestly against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee shed modestly in terms of the dollar for buying and selling at Rs 103.00 and Rs 103.20, respectively. The local currency slipped
Published 16 Aug, 2015 12:00am
THE RUPEE: slight fall
Currency

THE RUPEE: slight fall

The rupee fell modestly against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee shed modestly in terms of the dollar for buying and selling at Rs 103.00 and Rs 103.20, respectively. The local currency slipped
Published 16 Aug, 2015 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (August 15, 2015).

Published 16 Aug, 2015 12:00am
Ukraine exports 800,000 tonnes of grain to China

Ukraine exports 800,000 tonnes of grain to China

Ukraine, one of the top global grain exporters, has supplied about 800,000 tonnes of grain to China so far this year, in line with a loan-for-grains deal signed in 2012, a Ukrainian deputy agriculture minister said on Tuesday. Yaroslav Krasnopolsky told a
Published 16 Aug, 2015 12:00am
Bangladesh tea prices fall

Bangladesh tea prices fall

Tea prices in Bangladesh fell for a fourth straight session at the weekly auction on Tuesday as volumes hit the highest in the season so far, but demand for quality leaf capped the slide. Bangladeshi tea fetched an average 192.10 taka ($2.5) per kg at the
Published 16 Aug, 2015 12:00am
Falling trend on grain market
Cotton

Falling trend on grain market

A declining trend was witnessed on the grain market on Saturday due to less buying interest among buyers, dealers said. On the rice sector, Irri-6 Sindh low type was lower by Rs 100 to Rs 2825 and the best quality shed Rs 50 to Rs 2900, other types held t
Published 16 Aug, 2015 12:00am
US natural gas futures fall on big storage build

US natural gas futures fall on big storage build

US natural gas futures lost 5 percent on Thursday, the biggest percentage loss since March, on a bigger-than-expected storage build during a week that was warmer than normal. The US Energy Information Administration said utilities put 65 billion cubic fee
Published 16 Aug, 2015 12:00am
Philippines set to miss 2015 rice production target

Philippines set to miss 2015 rice production target

The Philippines is set to miss its 2015 target for rice output after dry weather hurt the first-half harvest, raising the prospect of increased imports to boost stocks ahead of forecast stronger El Nino weather conditions. Unmilled rice output this year i
Published 16 Aug, 2015 12:00am
US FOB Gulf corn, soyabean offers steady

US FOB Gulf corn, soyabean offers steady

US corn and soyabean export premiums at the Gulf Coast were generally steady on Thursday as a sharp drop in futures prices this week stoked demand but US supplies continue to face stiff competition from South American exporters, traders said. Chicago Boar
Published 16 Aug, 2015 12:00am
Oil cake market rates
Cotton

Oil cake market rates

The December maintained an upward trend on the forward cottonseeds oilcake market on Saturday in the process of trading, dealers said. The December vaida closed at Rs 1302.50 and it rose by 30 paisa at Rs 1302.80 in the early session, dealers said.
Published 16 Aug, 2015 12:00am
Cotton market: rates of fine type up on several factors
Cotton

Cotton market: rates of fine type up on several factors

Prices went up on the cotton market on Saturday mainly because of surge in the NY cotton futures and along with other several factors, dealers said. The official spot rate was higher by Rs 50 to Rs 4,550, dealers said. Seed cotton prices in Sindh were hig
Published 16 Aug, 2015 12:00am
Asian gasoil crack recovers but supplies remain ample

Asian gasoil crack recovers but supplies remain ample

Asia's gasoil crack recovered 7.2 percent to $11.70 a barrel on Tuesday, supported by stronger crude prices. But gasoil supplies of benchmark grade 500ppm persisted at high levels, traders said. Talk of possible run cuts could also have given the crack a
Published 16 Aug, 2015 12:00am
Chinese iron ore jumps to 5-week high

Chinese iron ore jumps to 5-week high

Iron ore futures in China jumped nearly 4 percent on Thursday to their highest in more than five weeks, extending recent gains on hopes stronger steel exports from China due to a weaker yuan would support demand for the raw material. Also aiding sentiment
Published 16 Aug, 2015 12:00am
US Midwest soyabean bids fall on poor demand

US Midwest soyabean bids fall on poor demand

Spot basis bids for soyabeans fell across the US Midwest on Thursday, weighed down by poor demand and the prospects for a huge crop in the fall boosting supplies, grain dealers said. Some maintenance shutdowns cut into the need for supplies at soyabean pr
Published 16 Aug, 2015 12:00am
Thai government sells 430,000 tonnes of rice from state stocks

Thai government sells 430,000 tonnes of rice from state stocks

Thailand's military government has sold 426,977 tonnes of rice from state stocks to 47 local buyers, a Commerce Ministry official said on Tuesday, continuing efforts to offload rice accumulated under a previous government's subsidy scheme. Some 668,000 to
Published 16 Aug, 2015 12:00am
Russian grain crop outlook seen brighter on favourable weather

Russian grain crop outlook seen brighter on favourable weather

SovEcon, a leading Russian agriculture consultancy, has upgraded its forecast for the 2015 grain crop and the agriculture ministry said it could raise its estimate due to favourable crop weather. Russia, a large wheat exporter to North Africa and the Midd
Published 16 Aug, 2015 12:00am
Indian rubber output likely to sink

Indian rubber output likely to sink

India's natural rubber production is likely to sink as much as 15 percent to its lowest in nearly two decades as farmers suspend tapping due to falling prices, rubber and tyre industry officials said. Combined with growing local demand, that could force t
Published 16 Aug, 2015 12:00am
Asian naphtha crack slips to two-session low

Asian naphtha crack slips to two-session low

Asia's naphtha crack slipped to a two-session low of $91.80 a tonne, weighed down by higher Brent crude and largely muted demand from South Korea as no open tenders were seen this week. Taiwan's Formosa Petrochemical Corp on the other hand has bought arou
Published 16 Aug, 2015 12:00am
Asia coffee sales to pick up on weakening currencies
Currency

Asia coffee sales to pick up on weakening currencies

Sales of Vietnamese and Indonesian coffee are expected to pick up soon on the back of weakening currencies in top robusta producing nations, traders said on Thursday. Lower shipments in Vietnam, the world's biggest robusta producer, have added to a 6.2 pe
Published 16 Aug, 2015 12:00am
China's gold demand seen holding up
Currency

China's gold demand seen holding up

China's gold demand this year is expected to at least hold steady with last year at just under 1,000 tonnes and will not likely be dented by this week's currency devaluation, the World Gold Council (WGC) said. Yuan-denominated gold prices in China, the wo
Published 16 Aug, 2015 12:00am
EU wheat harvest makes progress in better weather

EU wheat harvest makes progress in better weather

Wheat harvesting has made rapid progress in the last week in leading European Union producers and some crop forecasts are being raised, analysts said on Thursday. In the EU's biggest wheat producer France, harvesting is virtually finished, with a consensu
Published 16 Aug, 2015 12:00am
Myanmar farmers need help replanting rice after floods: UN

Myanmar farmers need help replanting rice after floods: UN

Farmers in flood-hit Myanmar face a scramble to replant damaged paddy fields in the next two weeks to avoid food shortages, and aid efforts in some of the country's hardest hit areas remain a challenge, the United Nations said on Saturday. More than 1.3 m
Published 16 Aug, 2015 12:00am
Strong rains threaten 8.0 percent of Argentine wheat area: exchange

Strong rains threaten 8.0 percent of Argentine wheat area: exchange

Fierce storms in Argentina's Pampas farm belt have inundated 300,000 hectares of recently-planted wheat, or 8.0 percent of the area estimated to have been planted with the grain this year, the Buenos Aires Grains Exchange said on Thursday. The South Ameri
Published 16 Aug, 2015 12:00am
Kazakhstan ups 2015-2016 grain export forecast to 8 million tones

Kazakhstan ups 2015-2016 grain export forecast to 8 million tones

Kazakhstan, Central Asia's largest grain producer and exporter, has raised its grain export forecast for the 2015/16 marketing year by 1 million tonnes to 8 million tonnes, the Agriculture Ministry said on Wednesday. Kazakhstan, which traditionally export
Published 16 Aug, 2015 12:00am
ICE world cotton contract to begin trading in November
Cotton

ICE world cotton contract to begin trading in November

Intercontinental Exchange's world cotton futures contract will begin trading on November 2, 2015, pending regulatory approval, the exchange said on Tuesday, announcing the long-awaited launch of a contract that has met a series of hurdles. Merchants have
Published 16 Aug, 2015 12:00am
Brazil's 2015-16 cane crush view little changed at 655.1 million tonnes

Brazil's 2015-16 cane crush view little changed at 655.1 million tonnes

Brazil's 2015/16 total cane crush should reach 655.1 million tonnes, little changed from April's projection of 654.6 million tonnes, Brazil's crop forecast agency Conab said on Thursday. Brazil's 2015/16 center-south sugar output was projected at 33.7 mil
Published 16 Aug, 2015 12:00am
China gold reserves up more than 19 tonnes in July
Currency

China gold reserves up more than 19 tonnes in July

China's gold reserves rose by more than 19 tonnes in July, the official Xinhua news agency said Saturday, after the central bank last month gave the statistic for the first time in six years. Bullion holdings stood at 1,677.30 tonnes at the end of July, X
Published 16 Aug, 2015 12:00am
Cyprus posts growth for second successive quarter: state figures

Cyprus posts growth for second successive quarter: state figures

Bailed-out EU member Cyprus is easing out of recession, official figures showed Friday, as the Mediterranean resort island notched up its second consecutive quarter of growth. Seasonally adjusted data showed that the economy grew 0.5 percent in the second
Published 16 Aug, 2015 12:00am
Brazil Treasury suspends new debt requests by states

Brazil Treasury suspends new debt requests by states

Brazil's Treasury asked state governments to halt requests for new loans to avoid lifting its overall debt which is being closely watched by credit rating agencies that have threatened to take away the country's coveted investment grade rating, the financ
Published 16 Aug, 2015 12:00am
Hedge funds pulled back ahead of Chinese turmoil

Hedge funds pulled back ahead of Chinese turmoil

A group of prominent private investors appears to have avoided some of the pain caused by recent market turmoil in China. According to regulatory filings this week, some hedge fund managers reduced exposure to Chinese companies such as Alibaba Group Holdi
Published 16 Aug, 2015 12:00am
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