Poly-GCL Petroleum Group of China has agreed with Ocean Pakistan Limited (OPL) to invest $500 million in exploration of oil/gas sector of Pakistan. The two companies reached an agreement during a recent visit of a seven-member delegation of Poly-GCL Petro
Poly-GCL Petroleum Group of China has agreed with Ocean Pakistan Limited (OPL) to invest $500 million in exploration of oil/gas sector of Pakistan. The two companies reached an agreement during a recent visit of a seven-member delegation of Poly-GCL Petro
World stock indexes and commodities slumped on Tuesday as weak Chinese data revived fears about the effect of China''s economic health on the global economy and fuelled more market turmoil. Oil prices settled down sharply, with Brent falling back below $5
World stock indexes and commodities slumped on Tuesday as weak Chinese data revived fears about the effect of China's economic health on the global economy and fuelled more market turmoil. Oil prices settled down sharply, with Brent falling back below $50
World stock indexes and commodities slumped on Tuesday as weak Chinese data revived fears about the effect of China's economic health on the global economy and fuelled more market turmoil. Oil prices settled down sharply, with Brent falling back below $50
The US State Department released over 4,000 more of the emails former secretary of state Hillary Clinton kept on a private server Monday and revealed that some 150 others have been retroactively classified. Reporters and Clinton's rivals as she campaigns
Interest rates on new foreign currency deposits issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (September 01, 2015).
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
On Monday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 5,812 million. The number of lots traded was 7.32 million. PMEX Commodity Index closed at 2,523. Major business was contributed by crude oil amounting to PKR 4,365 million. This was f
US natural gas futures settled 1 percent lower on Monday on expectations that high summer temperatures will peak this week, paring demand for air conditioning from gas-powered electricity over the next fortnight. Front-month gas futures settled down 2.6 c
Export premiums for US soyabeans were higher on Monday, rebounding after declining for much of last week amid better international demand and following gains in the CIF barge market, traders said. The US Department of Agriculture earlier on Monday said 12
Palm and coconut oil prices on the European vegetable oil market were generally lower on Monday, in a market which was quiet due to Malaysian trading being closed for the National Day holiday. Many products were unquoted in Europe for most of the day.
Wheat futures on the Chicago Board of Trade settled mixed on Monday, with the most-active December contract gaining on a late round of technical buying and strength in other markets including crude oil, traders said. Spot September wheat, which is in deli
European wheat prices dipped on Monday in the wake of a fall on US markets, pressured by a strong euro versus the dollar which hampers competitiveness on world markets. Benchmark December milling wheat on Euronext unofficially closed 0.1 percent lower at
The Karachi Port handled 185,355 tonnes of cargo comprising 157,571 tonnes of import cargo and 27,784 tonnes of export cargo including 7,432 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargo of 15
The December vaida was lower and the January contract was unchanged on the forward cottonseeds oilcake market on Tuesday in the process of trading, dealers said. The December vaida closed at Rs 1303.60, opened with 60 paisa decline at Rs 1303.00 in the ea
Seed cotton prices continued on the cotton market on Tuesday, which propelled mills and spinners to purchase as much as they can, dealers said. The official spot rate sustained overnight level at Rs 4,550, dealers said. Seed cotton prices in Sindh were lo
Masoor and barley prices were down on the wholesale grain market on Tuesday in the process of modest trading, dealers said. On the cereals side, Masoor Canada low type was lower by Rs 200 to Rs 9000 and the best type shed Rs 100 to Rs 9500, Masoor Dall Ca
Shanghai Futures Exchange copper ended down 0.4 percent at 39,260 yuan ($6,163) a tonne on Tuesday. Activity in China's factory sector shrank at its fastest rate in at least three years in August as domestic and export orders tumbled, increasing investors
Copper prices fell on Tuesday as expectations of weak demand from top consumer China were fuelled by data showing its manufacturing sector contracting at its fastest pace in three years. Benchmark copper on the London Metal Exchange (LME) ended at $5,067
Benchmark Tokyo rubber futures edged lower on Tuesday after weak factory data in China sent equities down in Tokyo and Shanghai, prompting fresh sells, dealers said. The Tokyo Commodity Exchange rubber contract for February delivery finished 0.2 yen lower
Chicago Board of Trade soyabean futures edged higher on Monday on a round of end-of-month short covering while wheat was mixed and corn settled close to unchanged, traders said. Corn, soyabeans and wheat posted monthly losses during August, the second str
Malaysian palm oil futures rose for a third day in strong trading on Tuesday after a jump in crude oil prices overnight and gains in competing vegetable oil markets. A stronger ringgit had little impact. By Tuesday's close, the benchmark November palm oil
Raw sugar futures on ICE inched further above last week's seven-year low on Tuesday, as the market consolidated after falling more than 3 percent on Monday, while arabica coffee eased under pressure frrom a weak Brazilian currency Cocoa futures rose. Soft
Gold steadied on Monday, bouncing up from session lows as oil prices rallied and the US dollar fell, after bullion felt earlier pressure on indications the Federal Reserve may still raise interest rates this year, despite recent market turmoil. Spot gold
Gold rose on Tuesday as equities faltered on fresh signs of weakness in China's economy although mounting expectations that the US Federal Reserve will likely go ahead with an interest rate increase this month kept gains in check. Activity in China's fact
Gold rose one percent on Tuesday as the dollar and global equities dropped on fresh signs of economic weakness in China and uncertainty over the timing of the Federal Reserve's first interest rate increase in nearly a decade. Activity in China's factory s
Chicago Board of Trade corn and soyabean futures dropped on Tuesday on concerns that commodity purchases from China will slow as the country's economy softens, traders said. Wheat futures firmed despite worries about the viability of US exports as investm
Gold rose 1 percent early on Tuesday as the dollar and global equities dropped on fresh signs of economic weakness in China and uncertainty over the timing of the Federal Reserve's first interest rate increase in nearly a decade. Activity in China's facto
Toshiba Corp again delayed announcing its annual financial results on Monday, as new accounting errors prevented the company from drawing a line under Japan's worst corporate scandal in four years. Toshiba, which was scheduled to post its earnings for the
South Korean exports posted their worst fall in six years in August as global demand wobbled, prompting some investment banks to trim this year's economic growth forecasts and call for another interest rate cut. Exports slumped 14.7 percent on-year to $39
Japanese firms spent less on plant and equipment in April-June than in the previous quarter despite reaping record profits, a sign premier Shinzo Abe's stimulus policies have failed to spur new investment key to ending nearly two decades of deflation. Fea
Condition in Turkey's manufacturing sector deteriorated again in August as employment fell, despite the weak lira pushing up new orders. The Turkish PMI fell to 49.3 in August from 50.1 in July, survey data from Istanbul Chamber of Industry and Markit sho
China's gyrating stock market is likely to affect businesses, but the impact should be contained as the economy is still a developing one, an official at the country's top economic planner said on Tuesday. Remarking on a near 40 percent plunge in Chinese
French income tax cuts promised earlier this month by President Francois Hollande will not come at the expense of the country's deficit reduction targets, Finance Minister Michel Sapin said on Monday. "We will cut taxes - that's not to increase them elsew
New Zealand house prices rose at their fastest pace in eight years in August, the government property valuer said on Tuesday, as prices continue to climb in Auckland, the country's largest city. Quotable Value's (QV) residential property price index rose
The head of telecoms equipment maker Alcatel-Lucent rejected government pressure Monday to renounce bonuses which could see him receive around 14 million euros ($15.7 million) as part of its buyout by rival Nokia. Michel Combes, who has headed the French-
Australia's central bank kept interest rates at a record low on Tuesday in a widely expected decision ahead of GDP data that is likely to show economic growth shifted a gear lower in the second quarter. The Reserve Bank of Australia (RBA) left the cash ra
Unemployment in the eurozone unexpectedly fell to its lowest level in more than three years in July with a sharp decline in the volatile figure in Italy. The European Union's statistics office Eurostat said on Tuesday that euro zone unemployment was 10.9
France's markets watchdog said Tuesday it would examine a deal that could see the former head of telecoms equipment maker Alcatel-Lucent receive around 14 million euros ($15.7 million) as part of its buyout by Finland's Nokia. The AMF watchdog will "check
Japanese Finance Minister Taro Aso said on Tuesday it would be beneficial for this week's meeting of the Group of 20 major economies to discuss what is going on in China's economy. China is Japan's biggest trading partner. China's stock markets have lost
Reeling from low oil prices, Canada fell into a recession in the first half of the year, government data confirmed Tuesday, putting Conservative Prime Minister Stephen Harper on the defensive in the run-up to October elections. According to Statistics Can
French luxury giant LVMH said Tuesday it had recruited former Apple music heavyweight Ian Rogers as chief digital officer to the group that produces Louis Vuitton bags and Moet Hennessy spirits. LVMH's announcement that Rogers will be taking over the grou
Thailand's military government has approved economic measures worth a combined 136 billion baht ($3.81 billion) aimed at boosting spending power in rural areas, as the junta struggles to lift economic growth. The measures include soft loans via village fu
Automakers posted Tuesday strong US auto sales in August, with sport utility vehicles and pickups continuing to see robust demand amid low gasoline prices and an improving jobs market. General Motors, the largest US automaker, said it sold 270,480 vehicle
Global economic growth is likely to be weaker than earlier expected, the head of the International Monetary Fund said on Tuesday, due to a slower recovery in advanced economies and a further slowdown in emerging nations. IMF Managing Director Christine La
Google on Tuesday refreshed its logo to better suit mobile devices that are supplanting desktop computers when it comes to modern Internet lifestyles. Google's logo keeps its four-color scheme but shifts to a soft sans-serif font. The company is also repl
US factory activity hit a more than two-year low in August as manufacturers struggled with a strong dollar, weak global demand and the lingering effects of deep spending cuts in the energy sector. Other data on Tuesday, however, suggested the economy appe
Global factory activity expanded at its weakest pace in just over two years last month, even though discounted prices did drive a modest upturn in new orders, a business survey showed on Tuesday. J.P. Morgan's Global Manufacturing Purchasing Managers' Ind
China's giant manufacturing industry contracted and euro zone and US growth eased in August in data published on Tuesday, while the International Monetary Fund cut its forecast for world growth this year. Stocks on major markets tumbled along with commodi
Stock markets across the Middle East fell on Tuesday alongside steep drops in global stock prices because of renewed uncertainty about the state of China's economy. Stock markets fell after data showed China's manufacturing activity had contracted in Augu
Chinese stocks got September off to a rocky ride on Tuesday, with main indexes tumbling 5 percent at one point as weak manufacturing data laid bare the daunting challenge faced by Beijing as it races to revive a stumbling economy. At the end of the sessio
Wall Street ended lower on Monday and wrapped up its worst month since 2012 after comments from a senior Federal Reserve official heightened fears among investors of a potential US interest hike in September. Fed Vice Chairman Stanley Fischer on Saturday
Hong Kong shares fell in sympathy with regional markets on Tuesday, as weak Chinese manufacturing data stoked fresh worries about a hard landing for the world's second-largest economy. The Hang Seng index fell 2.2 percent, to 21,185.43, while the China En
Longer-dated US Treasuries prices fell on Monday after lower US oil production and Opec's readiness to talk with other producers heightened inflation fears, while weekend comments from the Federal Reserve vice chair hurt shorter-dated prices. Medium- and
Longer-dated US Treasuries prices fell on Monday after lower US oil production and Opec's readiness to talk with other producers heightened inflation fears, while weekend comments from the Federal Reserve vice chair hurt shorter-dated prices. Medium- and
The ratio of shares sold short in Japan hit a record high on Tuesday, as investors stepped up bets that the markets will fall further on concerns about a slowdown in China and possible US rate hike later this year. The ratio, which measures the amount of
Japanese stocks crumbled on Tuesday, extending the previous day's losses after surveys showed China's factory sector shrank for the sixth straight month in August while investors remained on edge ahead of key US data due throughout the week. Sentiment was
Indian shares fell about 2 percent on Tuesday, dragged by banking and financial stocks after reports of HDFC Bank's steep base rate cut on Monday sparked fears that other lenders will be able to match it only at the cost of margins. HDFC Bank cut its base
European equities fell sharply on Tuesday, with miners slumping after weak manufacturing data from China renewed concerns for the economic health of the world's biggest metals consuming country. The FTSEurofirst 300 index of top European shares ended 2.8
Australian shares tumbled to their lowest close in a week on Tuesday after fresh data showed China's manufacturing activity contracted in August, reinforcing worries about the health of Australia's biggest export market. The widely expected Reserve Bank o
All Southeast Asian stock markets ended weaker on Tuesday, led by Indonesia after surveys showed China's manufacturing sector was in the grip of its worst slump in several years, raising fresh fears about the health of the country's economy. Speculation o
The UK FTSE 100 slumped 3 percent on Tuesday, its worst one-day fall in over a week, with miners hit hardest after a slump in the manufacturing sector in China - the world's biggest commodity consumer. All but one FTSE 100 stock closed in negative territo
China's yuan firmed on Tuesday as state-owned banks were suspected of selling dollars at the central banks behest, and sources told Reuters that authorities were preparing to tighten rules on forwards trading to deter speculation against the yuan, traders
The yen and euro edged higher on Tuesday as falls in Asian equities kept the focus on whether investors would need to further unwind carry trades, bets in risk assets funded by low-yielding currencies. Surveys of China's manufacturing and services sector
The safe-haven yen and the low-yielding euro rose on Tuesday on concerns about China's economy, as investors unwound bets against the two currencies widely used to fund positions in riskier assets. Speculators and investors had sold low-yielding currencie
The dollar sagged against the safe-haven yen and low-yielding euro on Tuesday as weak Chinese factories data drove investors to unwind bets against the two currencies widely used to fund positions in riskier assets. The data showed the manufacturing secto
The dollar eased against the safe-haven yen and the low-yielding euro on Monday as investors around the world knocked down equities and trimmed bets against currencies popularly used to fund risky carry trades. Under carry trades, investors sell a low-yie
Interbank buy/sell rates for the taka against the dollar on Tuesday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.30-6.50 percent (* Previous 05.25-06.50 percent). (* revised).
Most emerging Asian currencies rose on Tuesday, helped by a Reuters report that China was planning fresh moves to stabilise the yuan, though sentiment toward the region stayed bearish after a survey showed Chinese factory activity had slumped. China's cen
The Sri Lankan rupee ended steady on Tuesday as a state-run bank, through which the central bank usually directs the market, sold dollars at 134.50 a day after it raised the local currency's peg against the dollar for a second straight session. Currency d
Sterling lost ground against both the dollar and euro on Tuesday after a weaker-than-expected survey of manufacturing sentiment added to arguments for another prolonged hold of Bank of England interest rates. The pound has suffered along with the dollar f
The Australian dollar was in limbo on Tuesday after the Reserve Bank of Australia (RBA) offered no fresh guidance on its rate outlook, while the New Zealand dollar edged up on better economic data. The Australian dollar was only slightly higher at $0.7122
FIFA has told Singapore's football association to put internal elections on hold over possible political interference. The Football Association of Singapore (FAS) said it has been in talks with the world governing body, which opposes government interferen
Controversial football World Cup host Qatar will complete work on the first venue for tournament matches by 2016, six years before the event takes place, officials announced on Tuesday. The 40,000-seater Khalifa International Stadium is scheduled to host
It is Test cricket's equivalent of a lonely hearts advert: experienced opener seeks partner for meaningful relationship. Yet for England captain Alastair Cook it is no joke. Since former skipper and first-wicket colleague Andrew Strauss retired in 2012, l
Manchester United on Tuesday confirmed the signing of 19-year-old French striker Anthony Martial from Monaco on a four-year contract with an option for a further year. "Manchester United is delighted to announce that Anthony Martial has completed his tran