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Print - 2016-01-26
US Midwest corn and soya bids firmer

US Midwest corn and soya bids firmer

Spot basis bids for corn and soyabeans were steady to firm at processors and elevators around the US Midwest on Friday, grain dealers said. A grain dealer at a river terminal in Toledo, Ohio, said farmers booked some sales on corn.
Published 26 Jan, 2016 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures dipped on Friday, registering a slight weekly loss, pressured by a rebounding Canadian dollar. Canola seen in tight trading range, supported in recent sessions by exporter buying due to the weak dollar versus the US greenback,
Published 26 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 in the southern US Plains on Friday, with limited changes in parts of Texas, grain merchandisers said. The track basis at the US Gulf firmed by 2 cents, to 112 cents over K.C. March hard red winte
Published 26 Jan, 2016 12:00am
Indonesia issues permits to import raw sugar

Indonesia issues permits to import raw sugar

Indonesia has issued permits to import 968,143 tonnes of raw sugar in the first quarter of 2016, a trade ministry official said on Friday. The government is currently reviewing how often it needs to issue import permits for raw sugar, said acting director
Published 26 Jan, 2016 12:00am
India's winter crop sowing down

India's winter crop sowing down

Indian farmers have planted winter crops on 59 million hectares so far this season, down nearly 3 percent from a year earlier, raising fears that drought will drive down farm output. The winter crop planting season began on October 1, 2015.
Published 26 Jan, 2016 12:00am
Daily trading report of PMEX
Exchange

Daily trading report of PMEX

On Friday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 4,703 million. The number of lots traded was 25.85 million. PMEX Commodity Index closed at 2,554. Major business was contributed by gold amounting to PKR 3,896 million followed by cru
Published 26 Jan, 2016 12:00am
Steady trend seen on grain market

Steady trend seen on grain market

The almost all commodities maintained week-end levels on the wholesale grain market on Monday in the process of trading, dealers said. Some grains and commodity experts attributed the lean business to less buying interest among retailers, because major pa
Published 26 Jan, 2016 12:00am
CBOT wheat futures higher on short-covering

CBOT wheat futures higher on short-covering

Wheat futures on the Chicago Board of Trade inched higher on Friday to post a slight weekly gain, lifted by fund short-covering along with a bounce in crude oil and world equity markets, traders said. K.C. hard red winter and MGEX spring wheat drifted low
Published 26 Jan, 2016 12:00am
Bangladesh tenders to sell 170,000 barrels of naphtha

Bangladesh tenders to sell 170,000 barrels of naphtha

Bangladesh Petroleum Corp (BPC) has issued an international tender to sell 170,000 barrels of naphtha for February 21-23 loading from Chittagong, a company official said on Monday. The tender will close on February 8, with validity up to February 15.
Published 26 Jan, 2016 12:00am
Cotton market: no visible change in present outlook
Cotton

Cotton market: no visible change in present outlook

Not any significant change was seen in the present outlook on the cotton market on Monday in the process of trading, dealers said. The official spot rate was unchanged at Rs 5,400, dealers said. In Sindh, prices of seed cotton were at Rs 2000 and Rs 3000
Published 26 Jan, 2016 12:00am
Oil cake market rates
Cotton

Oil cake market rates

The January vaida matured on the forward cottonseeds oilcake market on Monday in the process of trading, dealers said. The January vaida closed at Rs 2051.00, they said. The March contract ended at 2151.00 and it opened with no change in the early hours,
Published 26 Jan, 2016 12:00am
Indonesia's phoney rice harvest data threatens food supply

Indonesia's phoney rice harvest data threatens food supply

Indonesian agriculture officials routinely inflate rice harvest data to present a rosy picture to the government and keep farm subsidies flowing, but their latest phoney numbers could lead to a severe shortage of the staple in coming months, officials say
Published 26 Jan, 2016 12:00am
Paris wheat futures rise but supply outlook grim

Paris wheat futures rise but supply outlook grim

Paris wheat futures rose on Friday, supported by a weaker euro and an accelerating rebound in commodities and equities, but hefty supplies kept the market not far from contract lows hit earlier in the week. March milling wheat, the benchmark on Euronext,
Published 26 Jan, 2016 12:00am
Asian naphtha crack falls three-month low

Asian naphtha crack falls three-month low

Asia's naphtha crack hovered around a three-month low of $89.83 a tonne on Monday as a stubborn supply glut weighed heavily on sellers' sentiment. The weakening fundamentals have battered spot prices further.
Published 26 Jan, 2016 12:00am
US MIDDAY: gold surges

US MIDDAY: gold surges

Gold rose 1 percent early on Monday as the dollar edged lower on renewed weakness in oil and stock markets, with concerns over the global economic outlook raising questions about the US Federal Reserve's pace of interest rate tightening. The Federal Open
Published 26 Jan, 2016 12:00am
US MIDDAY: wheat up on talk of Russia curbing exports

US MIDDAY: wheat up on talk of Russia curbing exports

US wheat futures climbed to a one-week high early on Monday on short-covering and concerns about the possibility that Russia might limit exports, traders said. Soyabeans climbed, led by soyameal, while corn was little changed.
Published 26 Jan, 2016 12:00am
Oil selloff resumes as record Iraq supply adds to glut

Oil selloff resumes as record Iraq supply adds to glut

Oil prices recoiled 6 percent on Monday, again nearing the pivotal $30-a-barrel threshold before the close, after news that Iraq's output reached a record last month returned attention to a market glut that sent prices to 12-year lows last week.
Published 26 Jan, 2016 12:00am
Cold snap damaged crops in eastern Europe, Ukraine

Cold snap damaged crops in eastern Europe, Ukraine

A cold snap that hit Europe early this month after a unusually mild winter has caused damage to grain crops in the eastern part of the bloc and Ukraine where the fall in temperatures was the steepest, crop monitoring unit MARS said on Monday.
Published 26 Jan, 2016 12:00am
El Salvador coffee exports slump 59 percent

El Salvador coffee exports slump 59 percent

Coffee exports from El Salvador declined 59 percent in December, compared with the year-earlier period, the national coffee council said on Thursday. Shipments in December totalled 16,399 60-kg bags, compared with 39,880 60-kg bags in the same month in th
Published 26 Jan, 2016 12:00am
Gold rises in Europe

Gold rises in Europe

Gold rose on Monday, as the dollar edged lower on renewed oil market weakness and concerns over the global economic outlook which have raised questions about the Federal Reserve's pace of interest rate tightening. The Federal Open Market Committee meets t
Published 26 Jan, 2016 12:00am
Gold gains in Asia

Gold gains in Asia

Gold edged higher on Monday, buoyed by expectations that the US Federal Reserve may have fewer chances to raise interest rates this year in the face of a wobbly global economy. That bodes well for non-interest bearing gold, which fell more than 10 percent
Published 26 Jan, 2016 12:00am
Cocoa falls back toward multi-month lows, sugar tumbles

Cocoa falls back toward multi-month lows, sugar tumbles

Cocoa futures on ICE fell 2 percent in heavy volume on Monday, back toward multi-month lows on bigger-than-expected bean arrivals in top grower Ivory Coast and abundant nearby supplies, pushing the spot spread in London to a contract low.
Published 26 Jan, 2016 12:00am
Rubber rises
Exchange

Rubber rises

Benchmark Tokyo rubber futures rose to a four-week high on Monday as investors unwound short positions after risk aversion eased in the wake of a sharp rise in oil prices last Friday, while firmer Tokyo equities also supported sentiment. The Tokyo Commodi
Published 26 Jan, 2016 12:00am
Copper follows oil lower, zinc edges higher
Exchange

Copper follows oil lower, zinc edges higher

Copper retreated on Monday after two sessions of gains as oil prices dropped again, though a weaker dollar and firmer equity markets in top metals consumer China helped to limit losses. Three-month copper on the London Metal Exchange lost 0.6 percent to c
Published 26 Jan, 2016 12:00am
Shanghai copper down
Exchange

Shanghai copper down

The most-traded copper contract on the Shanghai Futures Exchange lost 0.6 percent to 34,970 yuan a tonne on Monday dragged by expectations of a firm US dollar and concerns about demand in top consumer China.
Published 26 Jan, 2016 12:00am
China commercial crude oil stocks down three percent in 2015

China commercial crude oil stocks down three percent in 2015

China's commercial crude stocks fell in December to their lowest level in 20 months, and dropped roughly 3 percent last year, according to Reuters calculations, as the world's second-largest oil consumer continues to build its strategic reserves.
Published 26 Jan, 2016 12:00am
PSDP releases

PSDP releases

The federal government has released only 277.9 billion rupees (40 percent of the 700 billion rupees budgeted) for the current fiscal year after the passage of nearly seven months. Pakistani governments have invariably met budget deficit targets, particula
Published 26 Jan, 2016 12:00am
Obama's call for serious action

Obama's call for serious action

We may differ with President Obama's assertion that Pakistan 'can and must' take more effective action against terrorist groups - as we recently did when he predicted lingering instability in the region. But realities on ground, particularly as they unfol
Published 26 Jan, 2016 12:00am
PM's claims and the realities

PM's claims and the realities

On January 22, while addressing a group of investors in Davos, Prime Minister Nawaz Sharif painted a glamorous picture of Pakistan - an achievement for which his speech writer deserves full credit, ie, for depicting Pakistan as an alluring paradise for in
Published 26 Jan, 2016 12:00am
Market rout could blow Fed off course if consumers blink

Market rout could blow Fed off course if consumers blink

Federal Reserve officials are playing it cool for now, but roughly $2.5 trillion of stock market value wiped out in the past three weeks and a possible consumer pullback could throw the Fed off its course of gradual interest rate hikes.
Published 26 Jan, 2016 12:00am
Iran, China cut historic deal

Iran, China cut historic deal

This is apropos 'Iran cuts historic economic deal with China' carried by Business Recorder on Sunday. According to it, Iranian President Hassan Rouhani has hailed a "new chapter" in relations with China after talks with President Xi Jinping. China
Published 26 Jan, 2016 12:00am
Baluchistan Glass Limited (BGL)

Baluchistan Glass Limited (BGL)

Since its establishment, Baluchistan Glass Limited (BGL) has been a serious contender in the glass industry of Pakistan. BGL was incorporated in 1983 and is headquartered in Lahore. In 1999, it was acquired by the Gharibwal Group. Presently BGL has three
Published 26 Jan, 2016 12:00am
Baluchistan Glass Limited (BGL)

Baluchistan Glass Limited (BGL)

Since its establishment, Baluchistan Glass Limited (BGL) has been a serious contender in the glass industry of Pakistan. BGL was incorporated in 1983 and is headquartered in Lahore. In 1999, it was acquired by the Gharibwal Group. Presently BGL has three
Published 26 Jan, 2016 12:00am
Pakistan, India must ensure continuity of peace process: Kasuri

Pakistan, India must ensure continuity of peace process: Kasuri

Former Foreign Minister Khurshid Mahmud Kasuri urged Pakistan and India to ensure the peace process keep going on in any circumstances. He was speaking at a session on "My Recent Visit to India for launching 'Neither a Hawk nor a Dove,' Resumption of Indi
Published 26 Jan, 2016 12:00am
Citrus farmers: Special package under consideration

Citrus farmers: Special package under consideration

The Punjab Agriculture Minister Dr Farrukh Javed has said that a special package of 11 billion rupees is under consideration for the farmers of Citrus for providing them sophisticated machinery.
Published 26 Jan, 2016 12:00am
Sale of poetry books drops by 50 percent

Sale of poetry books drops by 50 percent

The sale of poetry books has dropped by 50 percent in market, with a majority of publishers refusing to publish the books altogether. Muzaffar, a manager at the Al-Hamd Publishers, says he has stopped publishing fresh poetry books and replaced it with tho
Published 26 Jan, 2016 12:00am
'Riding Gala' held at Lahore Polo Club

'Riding Gala' held at Lahore Polo Club

The Lahore Polo Club has arranged the Riding Gala 2016 in which club members and families and their children took part on Sunday. Abdul Waris clinched the first position in the ball and bucket competition while Ahsan Ali stood second and Bazil Khokhar thi
Published 26 Jan, 2016 12:00am
Consumers for minimising use of all gas appliances by SNGPL

Consumers for minimising use of all gas appliances by SNGPL

Over the past years, demand & supply position of Natural Gas on SNGPL's system has deteriorated since the impact of new domestic connections works out to around 80~100 MMCFD annually during winter months while the reduction in supplies works out to around
Published 26 Jan, 2016 12:00am
Workshop on 'Government-academia linkages' begins

Workshop on 'Government-academia linkages' begins

The Government College University Faisalabad (GCUF) has organised a two-day workshop on "Government Academia Linkage" here on Monday. Speaking on the occasion, GCUF Vice Chancellor Dr Muhammad Ali said the workshop had been organised to emphasise the link
Published 26 Jan, 2016 12:00am
Saad Rafiq meets Shahbaz

Saad Rafiq meets Shahbaz

Federal Minister for Railways Khawaja Saad Rafiq met Punjab Chief Minister Muhammad Shahbaz Sharif, here on Monday. Speaking on the occasion, Shahbaz Sharif said that under the leadership of Prime Minister Muhammad Nawaz Sharif, a lot of work has been car
Published 26 Jan, 2016 12:00am
Message from Prime Minister Islamic Republic of Pakistan

Message from Prime Minister Islamic Republic of Pakistan

Like the rest of the world, Pakistan celebrates the International Customs Day on 26th January every year to highlight the contribution made by customs authorities towards maintaining the security and integrity of the transnational movement of goods as wel
Published 26 Jan, 2016 12:00am
Message from Special Assistant to the PM on Revenue

Message from Special Assistant to the PM on Revenue

Pakistan Customs being a member of the international Customs fraternity is celebrating International Customs day on 26th January, 2016. It's an occasion to demonstrate the efforts and achievements of the Customs administration in realisation of government
Published 26 Jan, 2016 12:00am
Message from Chairman FBR
Exchange

Message from Chairman FBR

Together with all other Customs Administration of the World, Pakistan Customs is also celebrating International Customs Day on 26th January, 2016. I extend my warm felicitations to all officers and officials of Customs on this special day. The World Custo
Published 26 Jan, 2016 12:00am
Message from Member (Customs), FBR

Message from Member (Customs), FBR

Information & Communication Technology (ICT) is transforming many aspects of world's economies, governments and societies. The inherent potential of modern ICT have grown exponentially because of continuous development in cyber-physical systems, data proc
Published 26 Jan, 2016 12:00am
Message from Secretary General, WCO

Message from Secretary General, WCO

This year's International Customs Day heralds the launch of the WCO Year of Digital Customs, a year in which each of the 180 WCO Member Administrations will endeavour to harness the enormous potential offered by the digitalisation process to the benefit o
Published 26 Jan, 2016 12:00am
Message from Collector MCC Appraisement (East)

Message from Collector MCC Appraisement (East)

The Customs fraternity around the globe is celebrating the International Customs Day on 26th January, 2015 under the slogan "Digital Customs: Progressive Engagement". The objective is to promote inter-connectedness, co-ordination and sharing of informatio
Published 26 Jan, 2016 12:00am
Message from (President 2015-2016) Karachi Customs Agents Association

Message from (President 2015-2016) Karachi Customs Agents Association

I, extend my warm felicitations to all officers and officials of the Pakistan Customs on the occasion of the International Customs Days which is celebrating every year by the Customs community across the globe. The Brussels based 177 members World Customs
Published 26 Jan, 2016 12:00am
The dividends of automation
Exchange

The dividends of automation

The development of paperless customs systems is seen as the crucial starting point for any country to influence the growth of e-commerce and thereby improve economic performance. The spread of ICT is an opportunity for custom administrations to strengthen
Published 26 Jan, 2016 12:00am
TIR Convention, 1975
Exchange

TIR Convention, 1975

Globalisation of trade is a critical challenge for the world economy as a whole. Increased economic competition implies contracting net revenues constraining to rethink production, supply and transportation methods and, subsequently, to concentrate on the
Published 26 Jan, 2016 12:00am
Disaster recovery

Disaster recovery

DR consists of designing a system for the recovery or continuation of criticalbusinessprocesses andsystems,data protection and data recovery in eventuality of natural or human caused disaster. Disaster recovery centers on the IT or technology systems supp
Published 26 Jan, 2016 12:00am
Digital Customs: progressive engagement
Exchange

Digital Customs: progressive engagement

World Customs Organisation (WCO) has dedicated 2016 to promote the digitalisation of Customs processes under the slogan "Digital Customs: Progressive Engagement." The term Digital Customs refers to any automated or electronic activity that contributes to
Published 26 Jan, 2016 12:00am
MCC Gwadar: future premier collectorte of Pakistan

MCC Gwadar: future premier collectorte of Pakistan

Model Customs Collectorate (MCC) Gwadar is poised to become premier Customs Collectorate of Pakistan for the purpose of promoting the economy of Pakistan, facilitating the legitimate trade, a comprehensive digitalization of Customs processes and documenta
Published 26 Jan, 2016 12:00am
Pakistan Customs: Progressive Engagement through Digital Customs

Pakistan Customs: Progressive Engagement through Digital Customs

The World Customs Organization has dedicated the year 2016 to the promotion of digitization of customs processes. When we look back at the journey of digitizationin Pakistan Customs, it shows a continuous streak of bolstering stars packed with IT designs
Published 26 Jan, 2016 12:00am
Genesis and evolution of digitalization in Pakistan Customs
Exchange

Genesis and evolution of digitalization in Pakistan Customs

The Pakistan Customs Administration firmly believes that the "Change is the law of life. And those who look only to the past or present are certain to miss the future." Thus innovation and simplification in the customs clearance system has always been the
Published 26 Jan, 2016 12:00am
Digitalization and Automation of Transit Trade Procedures
Exchange

Digitalization and Automation of Transit Trade Procedures

The year 2016 has been dedicated to promoting the digitization of Customs processes under the slogan "Digital Customs: Progressive Engagement". Pakistan Customs has made considerable achievement in automation of movement of transit goods to and from Pakis
Published 26 Jan, 2016 12:00am
State Bank of Pakistan conversion rates
Exchange

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 26 Jan, 2016 12:00am
Barclays bid rates and maximum rates for payment of interest
Exchange

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 26 Jan, 2016 12:00am
Currency notes: exchange rates
Exchange

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (January 25, 2016).

Published 26 Jan, 2016 12:00am
Money Market Report
Kerb

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (January 25, 2016).
Published 26 Jan, 2016 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (January 25, 2016).

Published 26 Jan, 2016 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Monday (January 25, 2016).

Published 26 Jan, 2016 12:00am
Sahibzada Yaqub Ali Khan passes away

Sahibzada Yaqub Ali Khan passes away

Former Foreign Minister of Pakistan Sahibzada Yaqub Ali Khan has passed away. He was 95, according to a private news channel. Sahibzada Yaqub Ali Khan became foreign minister during tenure of General Zia Ul Haq. He succeeded Agha Shahi in this position.
Published 26 Jan, 2016 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Monday (January 25, 2016).

Published 26 Jan, 2016 12:00am
Sahibzada Yaqub Ali Khan passes away

Sahibzada Yaqub Ali Khan passes away

Former Foreign Minister of Pakistan Sahibzada Yaqub Ali Khan has passed away. He was 95, according to a private news channel. Sahibzada Yaqub Ali Khan became foreign minister during tenure of General Zia Ul Haq. He succeeded Agha Shahi in this position.
Published 26 Jan, 2016 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Monday (January 25, 2016).

Published 26 Jan, 2016 12:00am
Breaking precedent, Raheel says to step down when term ends

Breaking precedent, Raheel says to step down when term ends

The Chief of Army Staff (COAS) General Raheel Sharif has announced that he will retire on due date, ending media speculation regarding an extension in his services term. In a twitter message, Army Spokesman, Lieutenant-General Asim Saleem Bajwa stated, "S
Published 26 Jan, 2016 12:00am
Breaking precedent, Raheel says to step down when term ends

Breaking precedent, Raheel says to step down when term ends

The Chief of Army Staff (COAS) General Raheel Sharif has announced that he will retire on due date, ending media speculation regarding an extension in his services term. In a twitter message, Army Spokesman, Lieutenant-General Asim Saleem Bajwa stated, "S
Published 26 Jan, 2016 12:00am
COAS threw his support behind PM during anti-government protests

COAS threw his support behind PM during anti-government protests

General Raheel Sharif is considered by many to be Pakistan's most powerful man. Since he took office in 2013, the army has launched aerial and ground assaults against Islamist insurgent strongholds near the Afghan border in the north-west, earning the mil
Published 26 Jan, 2016 12:00am
COAS threw his support behind PM during anti-government protests

COAS threw his support behind PM during anti-government protests

General Raheel Sharif is considered by many to be Pakistan's most powerful man. Since he took office in 2013, the army has launched aerial and ground assaults against Islamist insurgent strongholds near the Afghan border in the north-west, earning the mil
Published 26 Jan, 2016 12:00am