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Print - 2015-09-15
Pak Suzuki Motor Company

Pak Suzuki Motor Company

Pak Suzuki Motor Company Limited (KSE: PSMC) is the largest player in Pakistan's automobile industry. The company, incorporated in 1983 following a joint venture between Pakistan Automobile Corporation (PACO) and Suzuki Motor Corporation (SMC) Japan, acco
Published 15 Sep, 2015 12:00am
3G and 4G licences: Dar asks PTA, MoIT to hold Auction

3G and 4G licences: Dar asks PTA, MoIT to hold Auction

Finance Minister Ishaq Dar on Monday asked Pakistan Telecommun-ication Authority (PTA) and Ministry of Information Technology to hold auction for the remaining 3G and 4G licences as the government has budgeted the revenue earning from both for the current
Published 15 Sep, 2015 12:00am
3G and 4G licences: Dar asks PTA, MoIT to hold Auction

3G and 4G licences: Dar asks PTA, MoIT to hold Auction

Finance Minister Ishaq Dar on Monday asked Pakistan Telecommun-ication Authority (PTA) and Ministry of Information Technology to hold auction for the remaining 3G and 4G licences as the government has budgeted the revenue earning from both for the current
Published 15 Sep, 2015 12:00am
'Clandestine' PPP-PML(N) deal no more: Imran

'Clandestine' PPP-PML(N) deal no more: Imran

Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan has said that Pakistan People's Party (PPP) is raising a great hue and cry over the Nandipur power project because a 'secret deal' between PPP and the ruling Pakistan Muslim League - Nawaz (PML-N) no long
Published 15 Sep, 2015 12:00am
'Clandestine' PPP-PML(N) deal no more: Imran

'Clandestine' PPP-PML(N) deal no more: Imran

Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan has said that Pakistan People's Party (PPP) is raising a great hue and cry over the Nandipur power project because a 'secret deal' between PPP and the ruling Pakistan Muslim League - Nawaz (PML-N) no long
Published 15 Sep, 2015 12:00am
Taliban storm Afghan prison, free hundreds of inmates

Taliban storm Afghan prison, free hundreds of inmates

Taliban insurgents in military uniform stormed an Afghan prison Monday, freeing hundreds of inmates after detonating a car bomb and killing four policemen in the country's largest jailbreak in years. The brazen raid in the eastern city of Ghazni comes as
Published 15 Sep, 2015 12:00am
Taliban storm Afghan prison, free hundreds of inmates

Taliban storm Afghan prison, free hundreds of inmates

Taliban insurgents in military uniform stormed an Afghan prison Monday, freeing hundreds of inmates after detonating a car bomb and killing four policemen in the country's largest jailbreak in years. The brazen raid in the eastern city of Ghazni comes as
Published 15 Sep, 2015 12:00am
Mullah Omar died of natural causes inside Afghanistan, says son

Mullah Omar died of natural causes inside Afghanistan, says son

The Afghan Taliban's founder Mullah Omar died of natural causes in his home country, his son has said in an attempt to quash the myriad rumours surrounding the warrior cleric's mysterious death. The Taliban, which ruled Afghanistan from 1996 until 2001 an
Published 15 Sep, 2015 12:00am
Mullah Omar died of natural causes inside Afghanistan, says son

Mullah Omar died of natural causes inside Afghanistan, says son

The Afghan Taliban's founder Mullah Omar died of natural causes in his home country, his son has said in an attempt to quash the myriad rumours surrounding the warrior cleric's mysterious death. The Taliban, which ruled Afghanistan from 1996 until 2001 an
Published 15 Sep, 2015 12:00am
Army officer, 5 militants killed

Army officer, 5 militants killed

Fifteen militants have been killed and seven of their hideouts destroyed in fresh air attacks in lawless tribal region bordering Afghanistan, the military said. "15 terrorists were killed and 7 of their hideouts destroyed in Shawal today (Sunday) through
Published 15 Sep, 2015 12:00am
Army officer, 5 militants killed

Army officer, 5 militants killed

Fifteen militants have been killed and seven of their hideouts destroyed in fresh air attacks in lawless tribal region bordering Afghanistan, the military said. "15 terrorists were killed and 7 of their hideouts destroyed in Shawal today (Sunday) through
Published 15 Sep, 2015 12:00am
Bangkok blast: Pakistani among 3 held in Malaysia

Bangkok blast: Pakistani among 3 held in Malaysia

A key suspect in the plotting of last month's deadly bombing in Bangkok was last tracked via multiple flights to Turkey, Thai police said on Monday, and Malaysia announced it had made three arrests related to the attack. No group has claimed responsibilit
Published 15 Sep, 2015 12:00am
Bangkok blast: Pakistani among 3 held in Malaysia

Bangkok blast: Pakistani among 3 held in Malaysia

A key suspect in the plotting of last month's deadly bombing in Bangkok was last tracked via multiple flights to Turkey, Thai police said on Monday, and Malaysia announced it had made three arrests related to the attack. No group has claimed responsibilit
Published 15 Sep, 2015 12:00am
US MIDDAY: gold inches higher

US MIDDAY: gold inches higher

Gold turned slightly higher early on Monday, clawing above the prior session's one-month low on uncertainty ahead of a Federal Reserve policy meeting that will be scrutinised for clarity on when the US central bank will raise interest rates. Spot gold was
Published 15 Sep, 2015 12:00am
US MIDDAY: corn extends run to one-month top

US MIDDAY: corn extends run to one-month top

US corn surged to a one-month high while wheat and soyabean futures also rose sharply on Monday as investors bet the US Department of Agriculture will reduce crop production forecasts in reports due in the coming weeks. Traders also exited short positions
Published 15 Sep, 2015 12:00am
Gold eases in Europe

Gold eases in Europe

Gold edged down on Monday to just above a one-month low, as the dollar recovered and global stocks rose ahead of a Federal Reserve policy meeting that will be scrutinised for clarity on when the US central bank will raise interest rates. Spot gold fell 0.
Published 15 Sep, 2015 12:00am
Gold hovers near one-month low in Asia
Currency

Gold hovers near one-month low in Asia

Gold was trading near its lowest in a month on Monday, as investors waited for a Federal Reserve policy meeting later this week for clarity on when the US central bank will hike interest rates. Spot gold was steady at $1,108.06 an ounce by 0633 GMT, afte
Published 15 Sep, 2015 12:00am
Arabica coffee makes biggest jump in a month
Currency

Arabica coffee makes biggest jump in a month

Arabica coffee futures on ICE made their biggest jump in a month on Monday, climbing above the prior session's 20-month low on chart-based buy signals and short-covering after data showed speculators had become heavily short.
Published 15 Sep, 2015 12:00am
Malaysian palm oil hits over seven-week high
Vegetable Oil

Malaysian palm oil hits over seven-week high

Malaysian palm oil futures rose almost 3 percent on Monday, hitting highest in more than seven weeks, supported by speculative buying ahead of export data and firmer soyabean prices. The benchmark November palm oil contract on the Bursa Malaysia Derivativ
Published 15 Sep, 2015 12:00am
Rubber drops

Rubber drops

Benchmark Tokyo rubber futures dropped on Monday after weak economic data from China fuelled worries about slowing demand in the world's top buyer, though trade was light as investors awaited the Federal Reserve's policy meeting this week. The Tokyo Commo
Published 15 Sep, 2015 12:00am
Oil tumbles with gasoline; Brent-US spread smallest since January

Oil tumbles with gasoline; Brent-US spread smallest since January

Brent fell almost 4 percent on Monday, narrowing US crude's discount against the global oil benchmark to the lowest since January after an industry report of a large supply draw and government data forecasting lower output in US crude. Oil prices saw anot
Published 15 Sep, 2015 12:00am
Copper slides, China data reinforces demand fears
Currency

Copper slides, China data reinforces demand fears

Copper prices slid on Monday along with Chinese equities as economic data from China reinforced worries about demand growth in the world's top consumer of industrial metals. Benchmark copper on the London Metal Exchange fell as much as 1.5 percent to $5,2
Published 15 Sep, 2015 12:00am
Shanghai copper slips

Shanghai copper slips

Shanghai Futures Exchange copper slid 1.2 percent to 40,620 yuan ($6,378) a tonne on Monday amid persistent concerns about the pace of China's growth, while a soft dollar cushioned losses as traders looked ahead to this week's pivotal Federal Reserve mone
Published 15 Sep, 2015 12:00am
China cotton imports lowest in at least nine years in August
Cotton

China cotton imports lowest in at least nine years in August

China imported 70,000 tonnes of cotton in August, the lowest monthly level since at least 2005 and down 65.8 percent from the same month a year earlier, trade website Cncotton.com said, citing customs data. Overseas purchases of the fibre have plunged thi
Published 15 Sep, 2015 12:00am
More analytical discourse expected from SBP

More analytical discourse expected from SBP

State Bank of Pakistan (SBP) has cut its policy rate by 50 basis points to six percent for the next two months. The monetary statement issued by SBP says that the real lending rates are hovering around four percent since December FY15 as "the monetary con
Published 15 Sep, 2015 12:00am
A new hope for a modus vivendi with India

A new hope for a modus vivendi with India

Punjab Rangers Director General Major General Umar Farooq Burki's visit to India seems to have helped not only resolve some of the reasons related to cease-fire violations along the Working Boundary (WB), but also lowering of temperatures between the two
Published 15 Sep, 2015 12:00am
The desperation, recklessness mix

The desperation, recklessness mix

Countrywide protests by retailers and wholesalers over the rise in Withholding Tax (WHT) on banking transactions had already upset the Federal Finance Minister; now he faces the anger of the chambers of commerce and the export sector after the Prime Minis
Published 15 Sep, 2015 12:00am
Tax issues of retail and wholesale trade

Tax issues of retail and wholesale trade

Since July 1, 2015 withholding tax on banking transaction is under serious discussion. Notwithstanding the merits and demerits of this measure, this tax leads to the identification of the major issue of tax evasion and avoidance in retail and wholesale tr
Published 15 Sep, 2015 12:00am
Kazakhstan marks 550 years of 'statehood' despite economic pain
Currency

Kazakhstan marks 550 years of 'statehood' despite economic pain

Kazakhstan is rolling out colourful pageantry to celebrate 550 years of statehood, defying an economic downturn that has battered a country viewed as a post-Soviet success story. In scenes recalling its distant nomadic past, men wearing fur hats and cradl
Published 15 Sep, 2015 12:00am
Entire nation on the same page

Entire nation on the same page

The nation celebrated the September 6 across the country, remembering that it was 50 years ago that India attacked Pakistan. Whilst Pakistan Army advanced in the Akhnur sector of Jammu and Kashmir, Indians opened different fronts to relieve pressure. A <i
Published 15 Sep, 2015 12:00am
Forex reserves to touch $21 billion mark this year: minister

Forex reserves to touch $21 billion mark this year: minister

Federal Minister for Planning, Development and Reforms Ahsan Iqbal has said that economy of the country is showing improvement and the foreign exchange reserves will reach Rs $21 billion during current year. Addressing a news conference here he said that
Published 15 Sep, 2015 12:00am
Government to support Fata-KP merger: Khattak

Government to support Fata-KP merger: Khattak

KP Chief Minister Pervez Khattak has said that the provincial government would support any move for merging FATA with the KP and they will welcome the tribal people if they chose to join KP. However, he said that the people of FATA must themselves decide
Published 15 Sep, 2015 12:00am
Rs 32.16 billion being spent on welfare of women: minister

Rs 32.16 billion being spent on welfare of women: minister

Provincial Minister for Women Development Hameeda Waheed ud Din has said that a total amount of Rs 32.16 billion is being spent on the welfare of women in different sectors of national reconstruction from development budget during current financial year.
Published 15 Sep, 2015 12:00am
26 militants surrender in Nushki

26 militants surrender in Nushki

As many as 26 militants including central members of various banned organisations surrendered before the Frontier Corps (FC) during a ceremony here on Monday.
Published 15 Sep, 2015 12:00am
Petroleum products: Increase in ST under consideration

Petroleum products: Increase in ST under consideration

The Federal Board of Revenue (FBR) is considering further raising sales tax on petroleum products following the decline in international POL prices as there is a shortfall of Rs 9 billion from petroleum sector (domestic stage) during July-August (2015-16)
Published 15 Sep, 2015 12:00am
Two killed, five injured in various incidents

Two killed, five injured in various incidents

Two persons were killed and five others injured in different violent incidents in the metropolis on Monday. A woman, Firdous, 30, wife of Ahamd, was strangled to death in Dastagir, Block 15 Federal B Area. The body was shifted to Abbasi Shaheed Hospital (
Published 15 Sep, 2015 12:00am
'35MAF water is thrown into sea during monsoon'

'35MAF water is thrown into sea during monsoon'

Despite being a water stressed country, Pakistan threw 35MAF invaluable water into the sea so far during the on-going monsoon season till to-date due to lack of water reservoirs and big dams. Water experts says that only 10 MAF water is required to thrown
Published 15 Sep, 2015 12:00am
Bangladesh HC speaks about basic principles of country's foreign policy

Bangladesh HC speaks about basic principles of country's foreign policy

Bangladesh, which considers Pakistan "not only a friendly but brotherly" country, is ready to talk about any bilateral issue but with its apparent anti-Pakistan honeymoon with India. Monday saw top diplomat from Dhaka talking here on "Pakistan-Bangladesh
Published 15 Sep, 2015 12:00am
Bail granted

Bail granted

The Lahore High Court on Monday granted bail to three men allegedly involved in demanding extortion from the local merchants of Akbari Market after two witnesses of the case turned hostile. Three accused Salman Irshad, Zeeshan Irshad and Arslan stated tha
Published 15 Sep, 2015 12:00am
PML-N accused of pursuing 'politics of the 1990s'

PML-N accused of pursuing 'politics of the 1990s'

Pakistan People's Party (PPP) on Monday presented the case of 'victimisation of Sindh' before the Senate, accusing the ruling Pakistan Muslim League-Nawaz (PML-N) of pursuing politics of the 1990s while targeting a single province and the political party
Published 15 Sep, 2015 12:00am
Fata, Karachi operations PESA supports Army, Rangers

Fata, Karachi operations PESA supports Army, Rangers

The Pakistan Ex-servicemen Association (PESA) on Monday lauded operations in Fata and Karachi to restore writ of the Government and underlined need of strategic planning to change mind-set of the people and to develop fundamental national values achieving
Published 15 Sep, 2015 12:00am
'Women by Women' exhibition concludes

'Women by Women' exhibition concludes

In present era the exhibitions and fairs had become the main source for promoting business, introducing products and developing business links at home and abroad. Trade Fairs and exhibitions provides an opportunity to people to witness crafts and craftsma
Published 15 Sep, 2015 12:00am
Vehari blast toll rises to 11

Vehari blast toll rises to 11

The investigation team of police is groping in dark and it could not reach to any conclusion whether it was suicidal attack or remote control device was used or explosive material was being shifted to some other place. Death toll rose to eleven in a blast
Published 15 Sep, 2015 12:00am
Universities play crucial role in development: KP Governor

Universities play crucial role in development: KP Governor

Khyber Pakhtunkhwa Governor Sardar Mahtab Ahmed Khan has said that the universities all over the world are playing a key role in the national development and changing the destiny of nations in accordance with the new challenges and priorities. He said the
Published 15 Sep, 2015 12:00am
MCCI demands construction of water reservoirs

MCCI demands construction of water reservoirs

Multan Chamber of Commerce and Industry (MCCI) has reiterated its demand to construct the water reservoirs particularly Kalabagh Dam, being an agrarian country, Pakistan cannot afford to waste huge amount of water resources, which are depleting fast. Shor
Published 15 Sep, 2015 12:00am
FBR offices in Karachi refurbished

FBR offices in Karachi refurbished

In order to facilitate taxpayers of income and sales tax at their doorsteps, Federal Board of Revenue has refurbished its existing office buildings situated at Gulshan-e-Iqbal, Karachi and Gulistan-e-Johar, Karachi. To relocate Regional Tax Office-III Kar
Published 15 Sep, 2015 12:00am
Net global deforestation slows down by over 50 percent: FAO

Net global deforestation slows down by over 50 percent: FAO

The world's forests continue to shrink as populations increase and forest land is converted to agriculture and other uses, but over the past 25 years the rate of net global deforestation has slowed down by more than 50 percent, FAO said in a report recent
Published 15 Sep, 2015 12:00am
Shujaat gears up efforts towards forming grand alliance

Shujaat gears up efforts towards forming grand alliance

PML-Q President Chaudhry Shujaat Hussain has geared up his efforts aimed at formation of a grand alliance in the country. Shujaat is contacting different political parties and organisations in this regard and some headway is expected after Eid.
Published 15 Sep, 2015 12:00am
Reckitt Benckiser holds GERD Forum

Reckitt Benckiser holds GERD Forum

Reckitt Benckiser Pakistan Limited organised a conference by the name of the GERD (Gastroesophageal Reflux Disease) Forum as part of its continued medical education programme. The event was attended by leaders in the field of gastroenterology, gynaecology
Published 15 Sep, 2015 12:00am
Strike observed against Drugs Ordinance 2015

Strike observed against Drugs Ordinance 2015

On the call of the Pakistan Chemists and Druggists Association, all pharmacists in Punjab observed a complete strike on Monday against the recent Drugs Ordinance 2015. They also staged a demonstration and observed sit-in at Chowk Ghanta Ghar to press the
Published 15 Sep, 2015 12:00am
Bilawal set to launch anti-government drive after Eid

Bilawal set to launch anti-government drive after Eid

Bilawal Bhutto is all set to launch anti-government campaign after Eid, as he would not deviate from his promise to return Punjab early to lead the party from the front, said the party sources. The party insiders admitted that the party workers were bit c
Published 15 Sep, 2015 12:00am
Sindh apex body meets today

Sindh apex body meets today

A meeting of the Sindh apex committee will take place at the CM House in Karachi on Tuesday and some important decision are expected on the issue of private security agencies' guards. Chief Minister Qaim Ali Shah will chair the meeting. Cops Commander Lie
Published 15 Sep, 2015 12:00am
Complaints against judges: SJC to be made more effective: CJP

Complaints against judges: SJC to be made more effective: CJP

Chief Justice of Pakistan Justice Anwar Zaheer Jamali has said that Supreme Court has decided a total of 15,000 petitions during the last judicial year. Addressing an event on the commencement of judicial year 2015-16 here on Monday, the Chief Justice sai
Published 15 Sep, 2015 12:00am
Public service departments Steps being taken to improve quality: Ahsan

Public service departments Steps being taken to improve quality: Ahsan

Speaking to the participants of two-day national consultative workshop on uplifting performance of the public sector and civil service reforms, Federal Minister for Planning, Development and Reform Ahsan Iqbal said the federal government was taking seriou
Published 15 Sep, 2015 12:00am
Fees, quality education: private schools' owners boycott meeting

Fees, quality education: private schools' owners boycott meeting

The owners of private schools boycotted a consultative meeting convened by the district administration to review quality of education, fees and facilities in private sector schools here in Nishtar Hall. The consultative meeting was convened in collaborati
Published 15 Sep, 2015 12:00am
Senate for legislation to clearly identify SC's suo motu jurisdiction

Senate for legislation to clearly identify SC's suo motu jurisdiction

The Senate on Monday unanimously adopted a resolution calling upon the government to legislate for providing right to review of the decisions taken by Supreme Court in suo motu cases. The resolution moved by PPP Senator Farhatullah Babar was adopted unani
Published 15 Sep, 2015 12:00am
Balochistan engineers among six kidnapped

Balochistan engineers among six kidnapped

Unidentified men kidnapped six persons including the engineers of Balochistan Development Authority (BDA) from Murgha Faqirzai area of Muslim Bagh teshil of Qila Saifullah district, on Monday. According to Levies Force, the engineers and a private contrac
Published 15 Sep, 2015 12:00am
Two traffic cops injured in firing incident

Two traffic cops injured in firing incident

Two traffic constables were injured in firing by unknown men here on Monday. According to sources, two traffic police constables identified as Juma Khan, 50, and Umer Hayat, 45, were attacked by unknown gunmen in Mai Kolachi area. Resultantly, they sustai
Published 15 Sep, 2015 12:00am
GDA to establish 'food street' in Galiyat valley

GDA to establish 'food street' in Galiyat valley

Galiyat Development Authority (GDA) has decided to establish a food street for tourists in the scenic valley of Galiyat, along with pacing up work on the ongoing development projects and new schemes. All development projects in picturesque valley of Galiy
Published 15 Sep, 2015 12:00am
Sugar mills Body to be formed to solve problems: Bosan
Cotton

Sugar mills Body to be formed to solve problems: Bosan

Federal Minister for Food Security and Research Sikandar Hayat Khan Bosan on Monday said that committees will be constituted at provincial level to resolve the problems which are being confronted by the sugar mills owners. He said this while addressing on
Published 15 Sep, 2015 12:00am
Khuhro visits former minister in Karachi jail

Khuhro visits former minister in Karachi jail

Sindh Senior Minister for Information Nisar Ahmed Khuhro on Monday visited Central Jail, Karachi and met incarcerated former minister and PPP leader Syed Ali Nawaz Shah. He discussed with him the recent verdict of an Accountability Court, which convicted
Published 15 Sep, 2015 12:00am
Meezan Bank sets up Hajj booth at Haji Camp

Meezan Bank sets up Hajj booth at Haji Camp

In order to facilitate the pilgrims of Hajj, Meezan Bank has set up its first Hajj booth at Haji Camp, Karachi. Dr Muhammad Imran Ashraf Usmani, Shariah Advisor & Group Head Product Development and Shariah Compliance at Meezan Bank honoured this ceremony
Published 15 Sep, 2015 12:00am
FWBL, Fazaia Housing join hands

FWBL, Fazaia Housing join hands

First Women Bank Limited (FWBL) and Fazaia Housing Scheme Karachi have joined hands to provide banking services including financing to the allottees as per Bank's specified criterion and collection of installments from the allottees etc. In this regard a
Published 15 Sep, 2015 12:00am
Reduced interest rate not enough to spur growth: PBIF chief

Reduced interest rate not enough to spur growth: PBIF chief

Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain said here on Monday that the government would require policy interventions to improve the country's situation as the recent cut announced in the interest rate by the centra
Published 15 Sep, 2015 12:00am
FCS in dire financial straits

FCS in dire financial straits

The once financially strong Fishermen Co-operative Society (FCS) is now even unable to pay monthly salaries to its staff, let alone financing welfare activities. The FCS, which is a semi-government welfare association which primarily serves the poor fishe
Published 15 Sep, 2015 12:00am
LUMS inaugurates Shaikh Ahmad Hassan School of Law building

LUMS inaugurates Shaikh Ahmad Hassan School of Law building

The inauguration ceremony for the new building of The Shaikh Ahmad Hassan School of Law (SAHSOL) was held on September 12, 2015. The building spreads over an area of 78,000 square ft at the Lahore University of Management Sciences (LUMS) campus. It compri
Published 15 Sep, 2015 12:00am
Bangladesh: HC for enhancing bilateral trade

Bangladesh: HC for enhancing bilateral trade

Bangladesh High Commissioner Suhrab Hosain while expressing dissatisfaction over limited trade volume of less than $1 billion between Pakistan and Bangladesh, stressed the need to exchange trade delegations, enhance people-to-people and institutional link
Published 15 Sep, 2015 12:00am
IQFY2015-16: PR Karachi Division surpasses revenue target by 26 percent

IQFY2015-16: PR Karachi Division surpasses revenue target by 26 percent

Pakistan Railways (PR), Karachi Division, has surpassed its revenue target by 26 percent, as it earned around Rs 2.6 billion against the target of Rs 2.2 billion during the first three months of current financial year (FY), depicting an increase of Rs 462
Published 15 Sep, 2015 12:00am
Taliban 'no-go zones' liberated in Karachi

Taliban 'no-go zones' liberated in Karachi

With a machine-gun in the back seat, his foot on the accelerator and wearing "Top Gun" style sunglasses, Azfar Mahesar pushes deeper into the heart of one of Karachi's "Talibanised" areas. "This used to be a war zone, but we have liberated it," says the s
Published 15 Sep, 2015 12:00am
Deutsche Bank to cut workforce by a quarter

Deutsche Bank to cut workforce by a quarter

Deutsche Bank aims to cut roughly 23,000 jobs, or about one quarter of total staff, through layoffs mainly in technology activities and by spinning off its PostBank division, financial sources said on Monday. That would bring the group's workforce down to
Published 15 Sep, 2015 12:00am
Aussie trims gains
Currency

Aussie trims gains

The Australian dollar trimmed gains on Monday and dipped back below 71 US cents as political uncertainty at home weighed on sentiment already soured by a fall in Chinese stocks. The Aussie, often used as a liquid proxy for China plays, slid as far as $0.7
Published 15 Sep, 2015 12:00am
China's yuan firms
Currency

China's yuan firms

China's yuan erased early losses and firmed on Monday afternoon, supported by suspected intervention by the central bank via yuan-purchases by state-owned banks, traders said. The suspected intervention offset the early losses on the yuan, which were poss
Published 15 Sep, 2015 12:00am
FTSE loses ground as Glencore and Morrison fall

FTSE loses ground as Glencore and Morrison fall

Britain's top share index fell on Monday, with miner Glencore and supermarket group Morrison underperforming as weak Chinese data and the possibility of a US rate rise weighed on markets. The bluechip FTSE 100 index had initially risen but then lost groun
Published 15 Sep, 2015 12:00am
Australian shares edge up
Currency

Australian shares edge up

Australian shares rose 0.4 percent on Monday in thin trading largely led by banks, and as investors looked for direction ahead of the US Federal Reserve meeting later this week. The S&P/ASX 200 index rose 20.1 points to 5,091.2 by 0203 GMT, after touching
Published 15 Sep, 2015 12:00am
Taiwan stocks down slightly

Taiwan stocks down slightly

Taiwan stocks were slightly down Monday as early gains gave way to caution over China's economy and markets. As of 0309 GMT, the main TAIEX index was down 0.1 points at 8,300.04, after closing up 0.5 percent on Friday at highs not seen in a month. The ele
Published 15 Sep, 2015 12:00am
European shares end lower, focus on Fed

European shares end lower, focus on Fed

European equities ended lower on Monday as investors grew jittery ahead of the Federal Reserve meeting in which the US central bank could take a decision to maintain or start raising interest rates after keeping them low for years. A Reuters poll showed o
Published 15 Sep, 2015 12:00am
China stocks down two percent, shrug off reform plans for SOEs

China stocks down two percent, shrug off reform plans for SOEs

China stocks closed down on Monday as lingering concerns over the economy eclipsed weekend announcements from Beijing that reforms of bloated state-owned industries would accelerate. The day saw volumes recover after the prior week's subdued activity, but
Published 15 Sep, 2015 12:00am
Southeast Asian markets: Malaysia posts best gain in over 2 years

Southeast Asian markets: Malaysia posts best gain in over 2 years

Malaysia's key stock index posted its best gain in more than two years on Monday after government's stock market stimulus, while Philippine's benchmark index rose more than 2 percent as foreign inflows boosted select large caps. Other markets in Southeast
Published 15 Sep, 2015 12:00am
Hong Kong stocks rise

Hong Kong stocks rise

Hong Kong shares rose on Monday, but the gains were limited by a sharp correction in mainland stocks, as investors await this week's rate decision by the US Federal Reserve. The Hang Seng index rose 0.3 percent, to 21,561.90, while the China Enterprises I
Published 15 Sep, 2015 12:00am
Nikkei falls on China worries

Nikkei falls on China worries

Japanese stocks fell on Monday as Chinese markets slid on soft economic data and telecommunication shares were sold off after Prime Minister Abe called on cellphone companies to reduce rates. The Nikkei share average lost 1.6 percent to close at 17,965.70
Published 15 Sep, 2015 12:00am
Indian shares post highest close in 2 weeks

Indian shares post highest close in 2 weeks

Indian shares closed 1 percent higher on Monday, posting their highest close in two weeks, as investors shrugged off weak Chinese data and uncertainty whether the US Federal Reserve would hike rates later this week. The benchmark BSE index gained 0.96 per
Published 15 Sep, 2015 12:00am
Sri Lankan shares edge up

Sri Lankan shares edge up

Sri Lankan shares edged up on Monday after two sessions of falls, led by gains in financials in low trading volume as investors were in a wait-and-see mode amid a weakening rupee and high interest rates, brokers said. The main stock index ended 0.13 perce
Published 15 Sep, 2015 12:00am
Egypt's index upbeat; oil drags down Gulf markets

Egypt's index upbeat; oil drags down Gulf markets

Egypt's stock market rose on Monday on encouraging corporate news, while most Gulf bourses fell, tracking oil prices as they came under pressure from weak economic data out of China. The Cairo index rose 1.1 percent and Qalaa Holdings was one of the main
Published 15 Sep, 2015 12:00am
Malaysia to pump in $4.6 billion to bolster stock market
Currency

Malaysia to pump in $4.6 billion to bolster stock market

Malaysia will inject up to $4.6 billion to bolster its stock market and will spend tens of millions of dollars on infrastructure projects to try to stimulate the slowing economy, Prime Minister Najib Razak said Monday. Najib, who is also finance minister,
Published 15 Sep, 2015 12:00am
China to let foreign central banks trade in forex market
Currency

China to let foreign central banks trade in forex market

China will allow foreign central banks to trade in its spot interbank foreign exchange market and trade currency derivatives such as swaps and forwards, the central bank said on Monday. The central bank also commented on a big discrepancy of 405.4 billion
Published 15 Sep, 2015 12:00am
Orders for new iPhones on record pace: Apple

Orders for new iPhones on record pace: Apple

Apple said Monday that pre-orders for its new iPhones set for release this month are on a pace to top last year's record for new handsets. "Customer response to iPhone 6s and iPhone 6s Plus has been extremely positive and preorders this weekend were very
Published 15 Sep, 2015 12:00am
Daily trading report of PMEX
Cotton

Daily trading report of PMEX

On Friday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 3,940 million. The number of lots traded was 17.40 million. PMEX Commodity Index closed at 2,483. Major business was contributed by gold amounting to PKR 3,166 million followed by cru
Published 15 Sep, 2015 12:00am
Shanghai rebar slips on demand worries

Shanghai rebar slips on demand worries

Shanghai steel futures dropped more than 1 percent on Monday on worries over lean seasonal demand, dragging down iron ore futures from 10-week highs. China's stocks slid after data suggesting economic growth was running below the 2015 target level of abou
Published 15 Sep, 2015 12:00am
US Midwest corn, soyabean bids flat

US Midwest corn, soyabean bids flat

Corn and soyabean spot basis bids were largely unchanged across the US Midwest on Friday as many farmers delayed sales while rains delayed the earliest phases of the autumn harvest, grain merchants said. Some growers sold small amounts of old- and new-cro
Published 15 Sep, 2015 12:00am
US FOB Gulf soyabean premiums steady

US FOB Gulf soyabean premiums steady

Soyabean export premiums at the US Gulf Coast held steady on Friday, supported by rising demand for newly harvested beans and firm CIF barge basis values, traders said. A lack of competitive Brazilian offers for near term shipments has boosted demand for
Published 15 Sep, 2015 12:00am
Russian wheat prices little changed

Russian wheat prices little changed

Russian wheat export prices were little changed last week ahead of a government decision on whether to reduce a floating export tax introduced on July 1, analysts said on Monday. Industry players widely expect the government to reduce the tax, which stops
Published 15 Sep, 2015 12:00am
Indian soyabean futures fall on sluggish demand

Indian soyabean futures fall on sluggish demand

Indian soyabean futures dropped on Monday on sluggish exports demand for soyameal, while soyaoil and rapeseed fell on a stronger rupee. A strong rupee makes edible oil imports cheaper and trims margin of oilmeal exporters. The rupee rose on Monday.
Published 15 Sep, 2015 12:00am
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