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Print - 2015-12-17
Fed raises interest rates for first time in a decade

Fed raises interest rates for first time in a decade

The Federal Reserve hiked interest rates for the first time in nearly a decade on Wednesday, signalling faith that the US economy had largely overcome the wounds of the 2007-2009 financial crisis. The US central bank's policy-setting committee raised the
Published 17 Dec, 2015 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks rose on Wednesday, tracking gains in other regional bourses before a likely hike in US interest rates, and as Inotera Memories traded limit up for a second day after Micron Technology said it would buy out the company. As of 1:11 GMT, the ma
Published 17 Dec, 2015 12:00am
Wall Street rises broadly as energy, bank shares jump

Wall Street rises broadly as energy, bank shares jump

US stocks rose broadly on Tuesday but ended far off their session highs ahead of Wednesday's interest rate decision from the Federal Reserve. Higher underlying inflation in November cemented market bets that the Fed will raise rates after its two-day meet
Published 17 Dec, 2015 12:00am
Wednesday's early trade: stocks up as oil slumps ahead of Fed decision

Wednesday's early trade: stocks up as oil slumps ahead of Fed decision

Wall Street pared gains as oil prices tumbled on Wednesday and ahead of a widely expected interest rate hike by the Federal Reserve later in the day. Energy and material stocks were down as crude oil prices fell on fresh evidence of growing global oversup
Published 17 Dec, 2015 12:00am
Nikkei posts biggest gain in 2-1/2 months

Nikkei posts biggest gain in 2-1/2 months

Japanese stocks posted the biggest daily percentage gain in 2-1/2 months on Wednesday, with sentiment helped by broad gains on Wall Street before an expected rise in US interest rates later in the day. The Nikkei share average ended 2.6 percent higher at
Published 17 Dec, 2015 12:00am
Sri Lankan shares edge up

Sri Lankan shares edge up

The Sri Lankan share index ended slightly firmer on Wednesday with trading dominated by Browns Investments PLC, but the market activity was lacklustre ahead of the US Federal Reserve's decision on interest rates due later in the day. The main stock index
Published 17 Dec, 2015 12:00am
Saudi bourse leads as most Middle East stocks up

Saudi bourse leads as most Middle East stocks up

Saudi shares rose on Wednesday as optimistic investors as an upbeat global backdrop helped bolster fragile regional investor sentiment. Saudi bank shares rose, with the sector's measure up 3.5 percent on prospects of bank lending margins increasing if the
Published 17 Dec, 2015 12:00am
Putin orders suspension of free trade zone with Ukraine

Putin orders suspension of free trade zone with Ukraine

President Vladimir Putin on Wednesday ordered his government to suspend Russia's free trade zone with Ukraine from January 1, making good on Moscow's threats to Kiev which seeks closer ties with the European Union. Russia annexed Ukraine's Crimean peninsu
Published 17 Dec, 2015 12:00am
Qatar publishes 2016 budget, projects 46.5 billion riyal deficit

Qatar publishes 2016 budget, projects 46.5 billion riyal deficit

Qatar expects to post a deficit of 46.5 billion riyals ($12.8 billion) in 2016, according to its budget announced on Wednesday, its first in 15 years and a sign of the toll cheap oil prices are taking on Gulf economies. The budget is the first to be prese
Published 17 Dec, 2015 12:00am
EU court backs Air France-KLM, others over cartel fine

EU court backs Air France-KLM, others over cartel fine

Air France-KLM and 10 other airlines have won a challenge against a near 800 million-euro ($873.9 million) fine for fixing air freight charges, with Europe's second highest court saying on Wednesday that it found the EU decision contradictory. The Europea
Published 17 Dec, 2015 12:00am
French business activity slows after terror attacks

French business activity slows after terror attacks

French business activity slowed to near-stagnation in December, with the services sector decelerating sharply following the November 13 attacks on Paris, according to the early results of a survey of corporate purchasing managers. The Purchasing Managers
Published 17 Dec, 2015 12:00am
Swiss banks release names of missing account holders

Swiss banks release names of missing account holders

Swiss banks released on Wednesday the names of more than 2,600 holders of accounts that have lain dormant for at least 60 years, giving them or their heirs one last chance to claim their wealth before it reverts to the state. The banking industry said aro
Published 17 Dec, 2015 12:00am
Fitch downgrades Brazil debt to junk as crisis deepens
Currency

Fitch downgrades Brazil debt to junk as crisis deepens

Fitch Ratings cut Brazil's credit rating to junk grade on Wednesday, the second such downgrade in three months, citing a deepening recession and political risks associated with the impeachment proceedings against President Dilma Rousseff. Fitch downgraded
Published 17 Dec, 2015 12:00am
Fitch downgrades Brazil debt to junk as crisis deepens
Currency

Fitch downgrades Brazil debt to junk as crisis deepens

Fitch Ratings cut Brazil's credit rating to junk grade on Wednesday, the second such downgrade in three months, citing a deepening recession and political risks associated with the impeachment proceedings against President Dilma Rousseff. Fitch downgraded
Published 17 Dec, 2015 12:00am
US housing data signals economic strength; manufacturing weak

US housing data signals economic strength; manufacturing weak

US housing starts in November rebounded from a seven-month low and permits surged to a five-month high, signs of strength in the housing market that could give the Federal Reserve more confidence to raise interest rates on Wednesday. Other data on Wednesd
Published 17 Dec, 2015 12:00am
China's central bank sees economic growth slowing to 6.8 percent in 2016

China's central bank sees economic growth slowing to 6.8 percent in 2016

China's annual economic growth is likely to slow to 6.8 percent next year from an expected 6.9 percent this year, the People's Bank of China said in a working paper published on Wednesday. The world's second-largest economy still faces downward pressure a
Published 17 Dec, 2015 12:00am
China's central bank sees economic growth slowing to 6.8 percent in 2016

China's central bank sees economic growth slowing to 6.8 percent in 2016

China's annual economic growth is likely to slow to 6.8 percent next year from an expected 6.9 percent this year, the People's Bank of China said in a working paper published on Wednesday. The world's second-largest economy still faces downward pressure a
Published 17 Dec, 2015 12:00am
Iraqi parliament approves 105.8 trillion dinar budget

Iraqi parliament approves 105.8 trillion dinar budget

Iraq's parliament approved a budget of 105.8 trillion Iraqi dinars ($96.01 billion) on Wednesday based on projected oil exports of 3.6 million barrels per day at a price of $45 each, lawmakers said. Oil exports, Iraq's main source of revenue, have risen a
Published 17 Dec, 2015 12:00am
South Korea sets lower inflation, growth targets on economic risks

South Korea sets lower inflation, growth targets on economic risks

South Korean authorities set a new consumer price target and cut economic growth estimates on Wednesday, as falling oil prices and weak global growth pose greater risks for the economy. The Bank of Korea (BOK) said it was setting its new three-year inflat
Published 17 Dec, 2015 12:00am
Jaitley reaches out to opposition to rescue landmark tax reform

Jaitley reaches out to opposition to rescue landmark tax reform

India's finance minister on Wednesday extended an olive branch to the opposition Congress party that has stalled the passage of a landmark tax reform in parliament, by offering to consider its demand for lower rates and a simpler structure. The proposed g
Published 17 Dec, 2015 12:00am
Imperial to stub out 'Tobacco' from name

Imperial to stub out 'Tobacco' from name

Imperial Tobacco Group on Tuesday said it was dropping part of its name, the tobacco bit, ahead of a government clampdown on cigarette branding. The British maker of Davidoff and Winston cigarettes will be known as Imperial Brands from early next year. Th
Published 17 Dec, 2015 12:00am
IMF trims forecast for Kenya's growth in 2015 and 2016

IMF trims forecast for Kenya's growth in 2015 and 2016

The International Monetary Fund trimmed its forecast for Kenya's economic growth on Wednesday, projecting gross domestic product would expand about 6 percent next year after growing a less-than-expected 5.6 percent in 2015. The fund, which has a mission v
Published 17 Dec, 2015 12:00am
IMF trims forecast for Kenya's growth in 2015 and 2016

IMF trims forecast for Kenya's growth in 2015 and 2016

The International Monetary Fund trimmed its forecast for Kenya's economic growth on Wednesday, projecting gross domestic product would expand about 6 percent next year after growing a less-than-expected 5.6 percent in 2015. The fund, which has a mission v
Published 17 Dec, 2015 12:00am
Starbucks steps up UK corporation tax payments

Starbucks steps up UK corporation tax payments

Coffee shop chain Starbucks paid £8 million (11 million euros, $12 million) of corporation tax in 2014, it said Tuesday, a huge increase on previous years, after announcing a record profit in Britain. The amount is only slightly less than the £8.6 million
Published 17 Dec, 2015 12:00am
Croatia's central bank sees 2016 growth, inflation up
Currency

Croatia's central bank sees 2016 growth, inflation up

Croatia's economy will grow 1.8 percent in 2016 after escaping this year from a six-year-long recession, helping push inflation in the European Union's newest member into positive territory, the central bank said on Wednesday. In its end-of-year monetary
Published 17 Dec, 2015 12:00am
Italy employers' group trims 2015, 2016 economic growth forecasts

Italy employers' group trims 2015, 2016 economic growth forecasts

Italian employers' group Confindustria trimmed its forecasts for economic growth for 2015 and 2016 on Wednesday, saying the slower-than-expected recovery after years of recession was a "mystery". Reaching a government target of 0.9 percent output this yea
Published 17 Dec, 2015 12:00am
Japan firms' inflation expectations fall, keep BoJ under pressure

Japan firms' inflation expectations fall, keep BoJ under pressure

Japanese firms' inflation expectations fell from three months ago as slumping oil costs weighed on underlying price growth, a Bank of Japan survey showed on Tuesday, adding to doubts on the effectiveness of the central bank's massive stimulus programme.
Published 17 Dec, 2015 12:00am
Dijssebloem defends ECB on stimulus
Currency

Dijssebloem defends ECB on stimulus

Eurogroup head Jeroen Dijsselbloem Tuesday defended the European Central Bank against criticism that it should do more to stimulate the economy, saying it had already gone "far beyond" expectations. "You cannot leave the economic policy up to the ECB," Di
Published 17 Dec, 2015 12:00am
Eagle gift from Reagan fetches top price in Thatcher sale

Eagle gift from Reagan fetches top price in Thatcher sale

A gift from former US President Ronald Reagan fetched top price in a sale of ex British prime minister Margaret Thatcher's personal possessions which raised more than 3 million pounds ($4.5 million) overall, auctioneer Christie's said. Its London showroom
Published 17 Dec, 2015 12:00am
Prices mixed on grain market
Cotton

Prices mixed on grain market

Mixed price patterns were seen on the wholesale grain market on Wednesday in the process of trading, dealer said. On the cereals side, Moong Punjab gained Rs 130 to Rs 10380, Gur low type continued to decline for the second day, losing more Rs 200 to Rs 5
Published 17 Dec, 2015 12:00am
India's October tea output drops

India's October tea output drops

India's tea production in key October month dropped 7 percent from a year earlier to 158.06 million kg, the state-run Tea Board said in a statement, as a strike called by plantation workers in southern India hit plucking. Production in the southern state
Published 17 Dec, 2015 12:00am
Cotton market: prices stabilise on modest trade activity
Cotton

Cotton market: prices stabilise on modest trade activity

Prices maintained current levels on the cotton market on Wednesday in the process of modest trading, dealers said. The official spot rate was unchanged at Rs 5,250, dealers said. In Sindh, seed cotton prices were at Rs 2200 and Rs 2900 and in the Punjab,
Published 17 Dec, 2015 12:00am
Karachi Port's activities

Karachi Port's activities

The Karachi Port handled 131,189 tonnes of cargo comprising 105,604 tonnes of import cargo and 25,585 tonnes of export cargo including 5,046 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday. The total import cargo of
Published 17 Dec, 2015 12:00am
US FOB Gulf soyabean premiums unchanged
Currency

US FOB Gulf soyabean premiums unchanged

Export premiums for soyabeans shipped from the US Gulf Coast were unchanged in near-term loading positions on Tuesday on steady demand from China and weak in deferred positions on expectations for a large South American harvest, traders said. China import
Published 17 Dec, 2015 12:00am
Asian gasoline slips but remains seasonally high

Asian gasoline slips but remains seasonally high

The Asian gasoline margin slipped on Tuesday but remained seasonally high as demand in the United States stayed healthy and as refinery issues curtailed supply, industry sources said. "The high margin of gasoline is due to the fast dropping crude oil pric
Published 17 Dec, 2015 12:00am
Vietnamese coffee premiums down in thin trade

Vietnamese coffee premiums down in thin trade

Premiums for Vietnamese coffee declined this week as growers and exporters held back sales due to a slide in global prices under pressure from high stockpiles, traders said on Tuesday. Premiums for robusta grade 2, 5 percent black and broken beans, fell t
Published 17 Dec, 2015 12:00am
US natural gas futures fall to 14-year low

US natural gas futures fall to 14-year low

US natural gas futures fell nearly 3.8 percent to a 14-year low on Tuesday on forecasts for continued unseasonably mild weather that is expected to curb heating demand through late December. Front-month gas futures on the New York Mercantile Exchange decl
Published 17 Dec, 2015 12:00am
CBOT wheat ends firm in technical trade

CBOT wheat ends firm in technical trade

Wheat futures on the Chicago Board of Trade closed firm on Tuesday but pared gains toward the close in largely technical trade, brokers said. CBOT March wheat met resistance at $4.98 a bushel, the session high in three of the last four trading days, and s
Published 17 Dec, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Tuesday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 4,035 million as compared to PKR 3,622 million reported on Monday, an increase of 11 percent from the last trading day. The number of lots traded was 17.74 million. PMEX Commodity In
Published 17 Dec, 2015 12:00am
State Bank of Pakistan conversion rates
Currency

State Bank of Pakistan conversion rates

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
Published 17 Dec, 2015 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

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
Published 17 Dec, 2015 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
Currency notes: exchange rates
Currency

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
Money Market Report
Kerb

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (December 16, 2015).
Published 17 Dec, 2015 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI Managed Growth Fund Rates

JLI Managed Growth Fund Rates

Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI Managed Growth Fund Rates

JLI Managed Growth Fund Rates

Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI Managed Growth Fund Rates

JLI Managed Growth Fund Rates

Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI Capital Growth Fund Rates

JLI Capital Growth Fund Rates

Jubilee Life Insurance Capital Growth Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI Capital Growth Fund Rates

JLI Capital Growth Fund Rates

Jubilee Life Insurance Capital Growth Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI Capital Growth Fund Rates

JLI Capital Growth Fund Rates

Jubilee Life Insurance Capital Growth Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI MANAGED TAKAFUL FUND

JLI MANAGED TAKAFUL FUND

JLI Managed Takaful Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI MANAGED TAKAFUL FUND

JLI MANAGED TAKAFUL FUND

JLI Managed Takaful Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
JLI MANAGED TAKAFUL FUND

JLI MANAGED TAKAFUL FUND

JLI Managed Takaful Fund Rates on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
Pasha opposes PIA sell-off

Pasha opposes PIA sell-off

Former Finance Minister Dr Hafeez Pasha has strongly opposed privatisation of the Pakistan International Airlines (PIA), arguing that the national flag carrier has started showing operating profits. In an exclusive talk with Business Recorder here
Published 17 Dec, 2015 12:00am
Pasha opposes PIA sell-off

Pasha opposes PIA sell-off

Former Finance Minister Dr Hafeez Pasha has strongly opposed privatisation of the Pakistan International Airlines (PIA), arguing that the national flag carrier has started showing operating profits. In an exclusive talk with Business Recorder here
Published 17 Dec, 2015 12:00am
THE RUPEE: modest recovery
Currency

THE RUPEE: modest recovery

The rupee managed to get rid of overnight weakness against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee picked up six-paisa versus the dollar for buying at Rs 104.84 and it also gained 14-paisa for selling
Published 17 Dec, 2015 12:00am
REMEMBERED FONDLY - National Assembly passes resolution

REMEMBERED FONDLY - National Assembly passes resolution

The National Assembly on Wednesday passed a unanimous resolution to express its profound grief and sadness over the martyrdom of innocent children and teachers of Army Public School Peshawar on December 16, 2014. Federal Minister for Climate Change, Zahid
Published 17 Dec, 2015 12:00am
THE RUPEE: modest recovery
Currency

THE RUPEE: modest recovery

The rupee managed to get rid of overnight weakness against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee picked up six-paisa versus the dollar for buying at Rs 104.84 and it also gained 14-paisa for selling
Published 17 Dec, 2015 12:00am
REMEMBERED FONDLY - National Assembly passes resolution

REMEMBERED FONDLY - National Assembly passes resolution

The National Assembly on Wednesday passed a unanimous resolution to express its profound grief and sadness over the martyrdom of innocent children and teachers of Army Public School Peshawar on December 16, 2014. Federal Minister for Climate Change, Zahid
Published 17 Dec, 2015 12:00am
REMEMBERED FONDLY - National Assembly passes resolution

REMEMBERED FONDLY - National Assembly passes resolution

The National Assembly on Wednesday passed a unanimous resolution to express its profound grief and sadness over the martyrdom of innocent children and teachers of Army Public School Peshawar on December 16, 2014. Federal Minister for Climate Change, Zahid
Published 17 Dec, 2015 12:00am
Nawaz vows to eliminate darkness of ignorance

Nawaz vows to eliminate darkness of ignorance

Prime Minister Nawaz Sharif on Wednesday said that sacrifices rendered by APS martyrs had set a future course for the country, and declared to mark December 16 as national day for the promotion of education in the country. "This tragedy has united the ent
Published 17 Dec, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
Nawaz vows to eliminate darkness of ignorance

Nawaz vows to eliminate darkness of ignorance

Prime Minister Nawaz Sharif on Wednesday said that sacrifices rendered by APS martyrs had set a future course for the country, and declared to mark December 16 as national day for the promotion of education in the country. "This tragedy has united the ent
Published 17 Dec, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
Army chief personally receives parents

Army chief personally receives parents

Army Chief General Raheel Sharif received the parents of martyrs of Army Public School Peshawar upon arrival at the school to attend the first anniversary here on Wednesday. The Army Chief expressed solidarity with the victims' families. The participants
Published 17 Dec, 2015 12:00am
Pakistan Mercantile Exchange - PMEX
Cotton

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
Army chief personally receives parents

Army chief personally receives parents

Army Chief General Raheel Sharif received the parents of martyrs of Army Public School Peshawar upon arrival at the school to attend the first anniversary here on Wednesday. The Army Chief expressed solidarity with the victims' families. The participants
Published 17 Dec, 2015 12:00am
The Weather

The Weather

The weather report on Wednesday (December 16, 2015) and the forecast for Thursday (December 17, 2015).

Published 17 Dec, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
Prime Minister defers resignation of Azeem

Prime Minister defers resignation of Azeem

Prime Muhammad Nawaz Sharif Wednesday deferred to consider the resignation of his Special Assistant on Aviation Captain Shujaat Azeem (Retd) till a decision of matter by the Supreme Court. The Prime Minister appreciated the services of Shujaat Azeem who h
Published 17 Dec, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (December 16, 2015).

Published 17 Dec, 2015 12:00am
ECP postpones LG polls in Sanghar, Badin

ECP postpones LG polls in Sanghar, Badin

Election Commission of Pakistan (ECP) has postponed the local government elections in Sanghar and Badin districts scheduled to be held on December 17. The decision was taken on the request of the Sindh government due to the prevailing law and order situat
Published 17 Dec, 2015 12:00am
APNS holiday

APNS holiday

"Sarmad Ali, Secretary General of the All Pakistan Newspapers Society has stated that this year, the "Eid Milad-un-Nabi" will fall on Thursday, December 24, 2015 whereas the "Quaid-e-Azam Day" will follow on next day ie Friday, December 25, 2015. In view
Published 17 Dec, 2015 12:00am
APNS holiday

APNS holiday

"Sarmad Ali, Secretary General of the All Pakistan Newspapers Society has stated that this year, the "Eid Milad-un-Nabi" will fall on Thursday, December 24, 2015 whereas the "Quaid-e-Azam Day" will follow on next day ie Friday, December 25, 2015. In view
Published 17 Dec, 2015 12:00am
Prime Minister defers resignation of Azeem

Prime Minister defers resignation of Azeem

Prime Muhammad Nawaz Sharif Wednesday deferred to consider the resignation of his Special Assistant on Aviation Captain Shujaat Azeem (Retd) till a decision of matter by the Supreme Court. The Prime Minister appreciated the services of Shujaat Azeem who h
Published 17 Dec, 2015 12:00am