AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)
Nov 24, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-01-03
Performance: Ombudsman's office seeks response

Performance: Ombudsman's office seeks response

Taking suo-motu notice, the Federal Ombudsman secretariat on Saturday sought the response from various federal government departments to their internal working and complaint redressal mechanism. Talking to Business Recorder, Supreme Court lawyer Ha
Published 03 Jan, 2016 12:00am
Performance: Ombudsman's office seeks response

Performance: Ombudsman's office seeks response

Taking suo-motu notice, the Federal Ombudsman secretariat on Saturday sought the response from various federal government departments to their internal working and complaint redressal mechanism. Talking to Business Recorder, Supreme Court lawyer Ha
Published 03 Jan, 2016 12:00am
Non-filers: special tax procedure introduced

Non-filers: special tax procedure introduced

The government has introduced a special procedure for tax assessment of traders through a simplified tax return, especially designed for non-filers. Sources told Business Recorder that the Federal Board of Revenue (FBR) on Friday informed the Cabin
Published 03 Jan, 2016 12:00am
Non-filers: special tax procedure introduced

Non-filers: special tax procedure introduced

The government has introduced a special procedure for tax assessment of traders through a simplified tax return, especially designed for non-filers. Sources told Business Recorder that the Federal Board of Revenue (FBR) on Friday informed the Cabin
Published 03 Jan, 2016 12:00am
Non-filers: special tax procedure introduced

Non-filers: special tax procedure introduced

The government has introduced a special procedure for tax assessment of traders through a simplified tax return, especially designed for non-filers. Sources told Business Recorder that the Federal Board of Revenue (FBR) on Friday informed the Cabin
Published 03 Jan, 2016 12:00am
Oil prices could hit record lows in 2016: BP chief

Oil prices could hit record lows in 2016: BP chief

Struggling oil producers could suffer even more pain in 2016 with further plunges in already record-low prices, BP Chief Executive Bob Dudley warned Saturday. "A low point could be in the first quarter," Dudley told BBC radio. Oil prices fell by 34 percen
Published 03 Jan, 2016 12:00am
Oil prices could hit record lows in 2016: BP chief

Oil prices could hit record lows in 2016: BP chief

Struggling oil producers could suffer even more pain in 2016 with further plunges in already record-low prices, BP Chief Executive Bob Dudley warned Saturday. "A low point could be in the first quarter," Dudley told BBC radio. Oil prices fell by 34 percen
Published 03 Jan, 2016 12:00am
Oil prices could hit record lows in 2016: BP chief

Oil prices could hit record lows in 2016: BP chief

Struggling oil producers could suffer even more pain in 2016 with further plunges in already record-low prices, BP Chief Executive Bob Dudley warned Saturday. "A low point could be in the first quarter," Dudley told BBC radio. Oil prices fell by 34 percen
Published 03 Jan, 2016 12:00am
Dar reviews RLNG-based power projects

Dar reviews RLNG-based power projects

Federal Finance Minister Senator Mohammad Ishaq Dar chaired a meeting here Saturday to review progress made so far concerning the 1000MW (RLNG-based) power projects which are aimed at supplementing efforts towards filling the gap in the country''s electri
Published 03 Jan, 2016 12:00am
Dar reviews RLNG-based power projects

Dar reviews RLNG-based power projects

Federal Finance Minister Senator Mohammad Ishaq Dar chaired a meeting here Saturday to review progress made so far concerning the 1000MW (RLNG-based) power projects which are aimed at supplementing efforts towards filling the gap in the country's electric
Published 03 Jan, 2016 12:00am
Dar reviews RLNG-based power projects

Dar reviews RLNG-based power projects

Federal Finance Minister Senator Mohammad Ishaq Dar chaired a meeting here Saturday to review progress made so far concerning the 1000MW (RLNG-based) power projects which are aimed at supplementing efforts towards filling the gap in the country's electric
Published 03 Jan, 2016 12:00am
Kingdom executes top Shia cleric

Kingdom executes top Shia cleric

Saudi Arabia executed Saturday a prominent Shia cleric, who had been behind anti-government protests, drawing angry condemnation from Shia-majority Iran and Iraq. The execution of Nimr al-Nimr and 46 other men, including Shia activists and Sunnis accused
Published 03 Jan, 2016 12:00am
Kingdom executes top Shia cleric

Kingdom executes top Shia cleric

Saudi Arabia executed Saturday a prominent Shia cleric, who had been behind anti-government protests, drawing angry condemnation from Shia-majority Iran and Iraq. The execution of Nimr al-Nimr and 46 other men, including Shia activists and Sunnis accused
Published 03 Jan, 2016 12:00am
Saudi foreign minister arrives today to hold talks on military alliance

Saudi foreign minister arrives today to hold talks on military alliance

Saudi Foreign Minister Adel bin Ahmed Al-Jubeir is arriving in Islamabad today (Sunday) to hold talks with Pakistani civil and military leadership on the newly-formed 34-state Islamic military alliance against terrorism. Sources said that Jubeir, in his f
Published 03 Jan, 2016 12:00am
Saudi foreign minister arrives today to hold talks on military alliance

Saudi foreign minister arrives today to hold talks on military alliance

Saudi Foreign Minister Adel bin Ahmed Al-Jubeir is arriving in Islamabad today (Sunday) to hold talks with Pakistani civil and military leadership on the newly-formed 34-state Islamic military alliance against terrorism. Sources said that Jubeir, in his f
Published 03 Jan, 2016 12:00am
HPC hopes peace talks to bear results

HPC hopes peace talks to bear results

The High Peace Council (HPC) on Saturday hoped the presence of the United States and China in the Afghan peace talks would yield possible results. The body's acting chairman, Abdul Hakim Mujahid, said the second phase of peace talks would be different fro
Published 03 Jan, 2016 12:00am
HPC hopes peace talks to bear results

HPC hopes peace talks to bear results

The High Peace Council (HPC) on Saturday hoped the presence of the United States and China in the Afghan peace talks would yield possible results. The body's acting chairman, Abdul Hakim Mujahid, said the second phase of peace talks would be different fro
Published 03 Jan, 2016 12:00am
Uranium prices set to march higher

Uranium prices set to march higher

Uranium prices are expected to outperform other commodities in 2016 and beyond as a global climate change deal and growing demand from Asia bolster the prospects of the nuclear industry. The metal that powers nuclear reactors has been gradually recovering
Published 03 Jan, 2016 12:00am
YOUR RUPEE LAST MONTH
Exchange

YOUR RUPEE LAST MONTH

Following currency fluctuations took place in foreign exchange rates during the last month. (December 1-31 2015)

Published 03 Jan, 2016 12:00am
The Weather

The Weather

The weather report on Saturday (January 02, 2016) and the forecast for Saturday (January 02, 2016).

Published 03 Jan, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (January 02, 2016).

Published 03 Jan, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (January 02, 2016).

Published 03 Jan, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (January 02, 2016).

Published 03 Jan, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (January 02, 2016)

Published 03 Jan, 2016 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (January 02, 2016).

Published 03 Jan, 2016 12:00am
Grain market rates
Cotton

Grain market rates

Karachi grain market rates in rupees on Saturday (January 02, 2016).

Published 03 Jan, 2016 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (January 02, 2016).

Published 03 Jan, 2016 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (January 02, 2016).

Published 03 Jan, 2016 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (January 02, 2016).

Published 03 Jan, 2016 12:00am
THE RUPEE: Firm trend
Currency

THE RUPEE: Firm trend

The rupee did not move any side against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee sustained its last levels against the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, they added.
Published 03 Jan, 2016 12:00am
THE RUPEE: Firm trend
Currency

THE RUPEE: Firm trend

The rupee did not move any side against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee sustained its last levels against the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, they added.
Published 03 Jan, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (January 02, 2016).

Published 03 Jan, 2016 12:00am
CME live cattle futures close mixed ahead of holiday
Exchange

CME live cattle futures close mixed ahead of holiday

Chicago Mercantile Exchange live cattle futures ended mixed on Thursday after investors settled their accounts during the last trading session of the year. The thinly-traded spot December, which expired at noon CST (1800 GMT), settled 2.800 cents per lb h
Published 03 Jan, 2016 12:00am
Iron ore poised for 40 percent annual drop, outlook gloomy
Exchange

Iron ore poised for 40 percent annual drop, outlook gloomy

Iron ore rose in the final trading session of the year, but was poised to end 2015 as one of the worst performing commodities of the year due to a global glut and shrinking demand at top consumer China. The spot price for iron ore slid 40 percent this yea
Published 03 Jan, 2016 12:00am
European wheat prices fall near four-month lows
Exchange

European wheat prices fall near four-month lows

European wheat prices traded near four-month lows on Thursday, as traders expected fierce competition globally next year, after a volatile first semester marked by an initial plunge on prospects of hefty supplies that was only partly recovered. The focus
Published 03 Jan, 2016 12:00am
Oil cake market rates
Cotton

Oil cake market rates

The January vaida was lower while the March contract was unmoved on the forward cottonseeds oilcake market on Saturday in the process of trading, dealers said. The January vaida was closed at Rs 2049.40 and it commenced the day with a loss of 20 paisa at
Published 03 Jan, 2016 12:00am
Listless business on cotton market ahead of PCGA report
Cotton

Listless business on cotton market ahead of PCGA report

Listless business was seen on the cotton market on Saturday ahead of fortnightly Pakistan Cotton Ginners Association (PCGA) report, dealers said. The official spot rate was unchanged at Rs 5,250, dealers said. In Sindh, seed cotton prices were unchanged a
Published 03 Jan, 2016 12:00am
Venezuela delays gas exports to Colombia

Venezuela delays gas exports to Colombia

Venezuela's state oil company, PDVSA, has delayed the export of natural gas to Colombia because of climate factors, the Colombian Mines and Energy Ministry said on Friday. In a letter to the Colombian government on Wednesday, PDVSA said the exports would
Published 03 Jan, 2016 12:00am
CBOT wheat ends year down 20 percent

CBOT wheat ends year down 20 percent

Wheat futures on the Chicago Board of Trade settled nearly unchanged on Thursday in thin pre-holiday trade, but finished the year down about 20 percent as global stockpiles grew. Markets will be closed on Friday for the New Year's Day holiday. Front-month
Published 03 Jan, 2016 12:00am
Grams' rates lower on grain market
Cotton

Grams' rates lower on grain market

Trading activity picked up on the wholesale grain market on Saturday, where grams and Moong prices drifted lower on easy supply position, dealer said. On the cereals side, Moong Afghan lost Rs 525 to Rs 11600, Guwar, however, picked up Rs 200 to Rs 3700-3
Published 03 Jan, 2016 12:00am
US Plains HRW wheat bids flat

US Plains HRW wheat bids flat

Spot basis bids for hard red winter wheat were mostly flat at elevators, mills and terminals in the southern US Plains on Thursday, as farmers welcomed the holiday, grain merchandisers said. Farmers were more interested in the New Year holiday than sellin
Published 03 Jan, 2016 12:00am
US Midwest corn, soyabean bids mostly flat

US Midwest corn, soyabean bids mostly flat

Spot basis bids for corn and soyabeans were mostly flat at elevators and processors around the US Midwest on Thursday, grain dealers said. Dealers said farmer selling was limited, but if the market rallied or prices surged to $9 a bushel, farmers may star
Published 03 Jan, 2016 12:00am
Boom-to-bust Australian coal baron acquires Anglo American mine

Boom-to-bust Australian coal baron acquires Anglo American mine

Former Australian coal baron Nathan Tinkler has surfaced as buyer for one of the first of many businesses Anglo American is trying to offload as commodity markets deteriorate. Anglo American last week agreed to sell its 83.33 percent interest in the Dartb
Published 03 Jan, 2016 12:00am
India's IOC to cut diesel prices

India's IOC to cut diesel prices

Indian Oil Corp (IOC) will cut the price of diesel by 2.3 percent from Friday and that of gasoline by 1 percent, reflecting changes in global fuel prices. The retail price of diesel will be cut by 1.06 rupees ($0.016) a litre, the company said in a statem
Published 03 Jan, 2016 12:00am
Asian naphtha crack slips at six-year low

Asian naphtha crack slips at six-year low

Asia's naphtha crack slipped 1.1 percent to a five-session low of $138.85 a tonne on Thursday due to the year end lull, but the crack value was more than four times the value seen a year ago. The overall 2015 average crack however ended at $92.43 versus 2
Published 03 Jan, 2016 12:00am
Asia's gasoil crack slips

Asia's gasoil crack slips

Asia's gasoil crack for benchmark 500ppm grade slipped to $10.23 a barrel, bringing the year's average to less than $14, the lowest in five years, on a stubborn supply glut caused by increased refining capacity and slower demand. The average jet fuel crac
Published 03 Jan, 2016 12:00am
Indonesian Pertamina seeks naphtha for TPPI splitter

Indonesian Pertamina seeks naphtha for TPPI splitter

Indonesia's Pertamina is seeking naphtha for a second time through tenders as an alternative raw material to feed a 100,000-barrel-per-day (bpd) condensate splitter in view of high condensates prices, traders said on Wednesday. The state-owned firm is not
Published 03 Jan, 2016 12:00am
US natural gas ends down 19 percent on year as stockpiles weigh
Exchange

US natural gas ends down 19 percent on year as stockpiles weigh

US natural gas futures rose on Thursday on cold weather forecasts, but the heating fuel finished the year down 19 percent, weighed by huge stockpiles. Gas futures on the New York Mercantile Exchange settled nearly 6 percent up for the day after weekly US
Published 03 Jan, 2016 12:00am
Russian oil output hits post-Soviet record high in December

Russian oil output hits post-Soviet record high in December

Oil output in Russia, one of the world's largest producers, hit a post-Soviet high last month and in 2015 as small- and medium-sized energy companies cranked up the pumps despite falling crude prices, Energy Ministry data showed on Saturday. The rise show
Published 03 Jan, 2016 12:00am
Italian state bank earmarks 160 billion euros for growth by 2020

Italian state bank earmarks 160 billion euros for growth by 2020

Italy's state bank has earmarked 160 billion euros ($173 billion) to support growth in the eurozone's third-largest economy, in a more active policy for the 165-year-old institution, its new five-year plan showed on Thursday. Public and private investment
Published 03 Jan, 2016 12:00am
Oman to cut budget deficit 27 percent this year: minister
Currency

Oman to cut budget deficit 27 percent this year: minister

Oman's government plans to cut its budget deficit to 3.3 billion rials ($8.6 billion) this year from an actual 4.5 billion rials last year, partly through big spending cuts, Financial Affairs Minister Darwish al-Balushi said on Friday.
Published 03 Jan, 2016 12:00am
North Korea leader opens 'Sci-Tech Complex' in Pyongyang

North Korea leader opens 'Sci-Tech Complex' in Pyongyang

North Korean leader Kim Jong-Un has opened a science and technology complex in Pyongyang, the North's state media said Saturday, adding another ostentatious building to the impoverished country's showcase capital. His attendance at the ceremony on Friday
Published 03 Jan, 2016 12:00am
Next parliament session can break tax deadlock: Jaitley

Next parliament session can break tax deadlock: Jaitley

Indian Finance Minister Arun Jaitley said on Saturday the upcoming budget session of parliament would be crucial for the passage of the proposed Goods and Services Tax (GST) that has been blocked in two successive sessions. The GST reform is long overdue
Published 03 Jan, 2016 12:00am
Evergrande says to buy $3.2 billion China property assets

Evergrande says to buy $3.2 billion China property assets

Evergrande Real Estate Group Ltd said on Tuesday it has agreed to buy mainland property assets in cities including Shanghai and Beijing from the empire of Hong Kong tycoon Cheng Yu-tung for 20.4 billion yuan ($3.2 billion). Evergrande will buy a 60 percen
Published 03 Jan, 2016 12:00am
Turkey hikes taxes on cigarettes, alcohol; electricity prices rise

Turkey hikes taxes on cigarettes, alcohol; electricity prices rise

Turkey has hiked taxes on tobacco and alcohol for the new year, while its energy market regulator has also increased electricity prices as of January 1 to fund investment and production. Taxes on alcoholic beverages including beer, gin, vodka and raki hav
Published 03 Jan, 2016 12:00am
Turkish December trade deficit falls 30 percent to $6.12 billion

Turkish December trade deficit falls 30 percent to $6.12 billion

Turkey's trade deficit in December shrank 30 percent year-on-year to $6.12 billion and for 2015 as a whole fell 25.5 percent to $63.14 billion, the Customs and Trade Ministry said on Saturday. Exports fell 10.14 percent to $11.73 billion in December, and
Published 03 Jan, 2016 12:00am
New York asks fantasy sports sites to give money back in amended lawsuit

New York asks fantasy sports sites to give money back in amended lawsuit

New York Attorney General Eric Schneiderman on Thursday filed an amended lawsuit against DraftKings and FanDuel asking the daily fantasy sports companies to give back all the money they made in New York State. The amended lawsuit asks the two companies to
Published 03 Jan, 2016 12:00am
Macau gaming revenue falls 34 percent in 2015

Macau gaming revenue falls 34 percent in 2015

Macau's gambling revenue ended 2015 with a whimper, falling for a second straight year as China's corruption crackdown continued to keep high rollers from the Asian gaming hub. Revenue slid 34.3 percent to a five-year low of 230.84 billion patacas ($28.92
Published 03 Jan, 2016 12:00am
Macau gaming revenue falls 34 percent in 2015

Macau gaming revenue falls 34 percent in 2015

Macau's gambling revenue ended 2015 with a whimper, falling for a second straight year as China's corruption crackdown continued to keep high rollers from the Asian gaming hub. Revenue slid 34.3 percent to a five-year low of 230.84 billion patacas ($28.92
Published 03 Jan, 2016 12:00am
Honda confirms ninth death linked to Takata airbag

Honda confirms ninth death linked to Takata airbag

Honda Motor Co confirmed on Thursday that a Takata airbag inflator ruptured in a July crash of a Honda Accord and likely led to the death of the young driver, the ninth death in the world linked to the faulty inflators. The death, first reported by US aut
Published 03 Jan, 2016 12:00am
Slovak central budget deficit shrinks in 2015, beats target

Slovak central budget deficit shrinks in 2015, beats target

Slovakia's central government budget deficit dropped to 1.93 billion euros ($2.10 billion) in 2015, less than the 2.98 billion euros planned by the government, Finance Minister Peter Kazimir said on Saturday. Slovakia has been one of the euro zone's bette
Published 03 Jan, 2016 12:00am
Mideast funds more bullish on stocks, bearish on bonds: survey
Exchange

Mideast funds more bullish on stocks, bearish on bonds: survey

Middle East fund managers have become more positive on regional equities with a strong bias towards the United Arab Emirates, and more bearish on bonds, a monthly Reuters survey shows. The survey of 14 leading fund managers, conducted over the past 10 day
Published 03 Jan, 2016 12:00am
Mideast funds more bullish on stocks, bearish on bonds: survey
Exchange

Mideast funds more bullish on stocks, bearish on bonds: survey

Middle East fund managers have become more positive on regional equities with a strong bias towards the United Arab Emirates, and more bearish on bonds, a monthly Reuters survey shows. The survey of 14 leading fund managers, conducted over the past 10 day
Published 03 Jan, 2016 12:00am
German stock exchange books highest number of IPOs since 2007
Exchange

German stock exchange books highest number of IPOs since 2007

The Frankfurt stock exchange said Monday that 24 companies went public in 2015, the highest number of initial public offerings (IPOs) since 2007. In terms of the size of capital raised from the new listings, this year was also the best in eight years, wit
Published 03 Jan, 2016 12:00am
Canada stocks 2016 outlook downgraded
Exchange

Canada stocks 2016 outlook downgraded

Canadian equities will gain nearly 10 percent next year but will not come close to where they finished 2014 as slumping energy prices and a weak economic outlook has prompted strategists to lower their outlook, a Reuters poll found. The poll showed Toront
Published 03 Jan, 2016 12:00am
FTSE set to gain in 2016, but seen missing earlier forecast

FTSE set to gain in 2016, but seen missing earlier forecast

Britain's top share index is set to rise nearly 13 percent by the end of 2016 from current levels, according to analysts polled by Reuters in the past week, although the latest forecasts are sharply lower than those made just three months ago. Strategists
Published 03 Jan, 2016 12:00am
Hong Kong regulator suspends trader who received order via phone message

Hong Kong regulator suspends trader who received order via phone message

Hong Kong's securities market regulator said it had suspended a former employee of broker BTIG for receiving a customer order over a messaging service, which breached the firm's internal communication policies. The regulator also said it found that the fo
Published 03 Jan, 2016 12:00am
China's Vanke says may issue new shares

China's Vanke says may issue new shares

China Vanke Co Ltd, the country's largest property developer, said on Tuesday it may issue new shares to acquire a company - a move that could dilute the value of its shares amid tension with its biggest shareholder. It said in a filing to the Hong Kong b
Published 03 Jan, 2016 12:00am
China's Vanke says may issue new shares

China's Vanke says may issue new shares

China Vanke Co Ltd, the country's largest property developer, said on Tuesday it may issue new shares to acquire a company - a move that could dilute the value of its shares amid tension with its biggest shareholder. It said in a filing to the Hong Kong b
Published 03 Jan, 2016 12:00am
Wall Street expects single-digit S&P 500 gain in 2016

Wall Street expects single-digit S&P 500 gain in 2016

A weak ending to 2015 and the expectation of improving profit growth in 2016 will set the stage for a single-digit gain in US stocks next year, a modest forecast at least by recent standards, according to strategists polled by Reuters. But even that fairl
Published 03 Jan, 2016 12:00am
As hydropower dries up, Tanzania moves toward fossil fuels

As hydropower dries up, Tanzania moves toward fossil fuels

As drought continues to cripple its hydropower plants, Tanzania is struggling to produce enough electricity - and is moving toward using more fossil fuels to make up the shortfall. Hydropower plants normally produce about 35 percent of Tanzania's electric
Published 03 Jan, 2016 12:00am
Angolan fuel prices rise
Currency

Angolan fuel prices rise

Angola's retail fuel prices increased sharply on Friday, according to a statement from state-owned company Sonangol, as the government of Africa's second biggest oil exporter cut subsidies to consumers. The price of petrol rose 39 percent to 160 kwanza ($
Published 03 Jan, 2016 12:00am
French new car sales saw biggest rise since 2009 last year

French new car sales saw biggest rise since 2009 last year

French new car registrations saw their highest annual rise since 2009 last year, helped by a 12.5 percent increase in December, the CCFA automobile association said on Friday. In a statement, CCFA said the new car market grew by 6.8 percent in the whole o
Published 03 Jan, 2016 12:00am
Indonesia to tax fuel consumers in 2016

Indonesia to tax fuel consumers in 2016

Indonesia will start taxing fuel consumers in 2016 and use the fund raised to develop energy infrastructure, the government said on Wednesday, a year after it removed gasoline subsidies. President Joko Widodo axed the subsidies shortly after taking office
Published 03 Jan, 2016 12:00am
Indonesia to tax fuel consumers in 2016

Indonesia to tax fuel consumers in 2016

Indonesia will start taxing fuel consumers in 2016 and use the fund raised to develop energy infrastructure, the government said on Wednesday, a year after it removed gasoline subsidies. President Joko Widodo axed the subsidies shortly after taking office
Published 03 Jan, 2016 12:00am
Last-minute cold weather brings little relief to US apparel

Last-minute cold weather brings little relief to US apparel

Apparel retailers saw a boost of no more than $200 million in sales from cold weather just before the new year, and with product markdowns above 50 percent, it will be very difficult to make up margins in the coming months, industry researchers said. Shop
Published 03 Jan, 2016 12:00am
European banks poised for job cuts in 2016, profit drive

European banks poised for job cuts in 2016, profit drive

Regulation, anaemic economic growth and technology changes will force banks across Europe to find more savings in 2016, with jobs likely to be the biggest casualty, according to investors and analysts. Ten of the region's biggest banks have announced staf
Published 03 Jan, 2016 12:00am
Airbus to sell three A380 superjumbo jets to Japan's ANA Holdings

Airbus to sell three A380 superjumbo jets to Japan's ANA Holdings

European planemaker Airbus has won a deal to sell three A380 superjumbo jets to Japan's biggest carrier ANA Holdings Inc in a deal valued at about 150 billion yen ($1.25 billion), the Nikkei reported. The planes are to be introduced in fiscal 2018 in rout
Published 03 Jan, 2016 12:00am
Previous Day