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Print - 2016-01-27
P&G posts 35 percent earnings jump
Exchange

P&G posts 35 percent earnings jump

US consumer products giant Procter & Gamble reported a jump in second-quarter earnings Tuesday, despite a strong dollar that continued to depress the value of foreign sales. Net income of $3.21 billion was up 35.1 percent from the year-ago period as it cu
Published 27 Jan, 2016 12:00am
P&G posts 35 percent earnings jump
Exchange

P&G posts 35 percent earnings jump

US consumer products giant Procter & Gamble reported a jump in second-quarter earnings Tuesday, despite a strong dollar that continued to depress the value of foreign sales. Net income of $3.21 billion was up 35.1 percent from the year-ago period as it cu
Published 27 Jan, 2016 12:00am
AIG to spin off mortgage unit, cut jobs in sweeping overhaul

AIG to spin off mortgage unit, cut jobs in sweeping overhaul

American International Group Inc said it would spin off its mortgage insurance unit, cut jobs and sell its broker-dealer network as part of a sweeping overhaul promised to shareholders to fend off activist investor Carl Icahn. The insurer said in a statem
Published 27 Jan, 2016 12:00am
AIG to spin off mortgage unit, cut jobs in sweeping overhaul

AIG to spin off mortgage unit, cut jobs in sweeping overhaul

American International Group Inc said it would spin off its mortgage insurance unit, cut jobs and sell its broker-dealer network as part of a sweeping overhaul promised to shareholders to fend off activist investor Carl Icahn. The insurer said in a statem
Published 27 Jan, 2016 12:00am
J.P Morgan Chase pays $1.42 billion to settle most of Lehman Bros suit

J.P Morgan Chase pays $1.42 billion to settle most of Lehman Bros suit

J.P. Morgan Chase has agreed to pay $1.42 billion to settle most of the litigation relating to the bankruptcy of Lehman Brothers, according to court documents seen Tuesday. Lehman Brothers had accused J.P. Morgan Chase, which was its primary lender, of dr
Published 27 Jan, 2016 12:00am
J.P Morgan Chase pays $1.42 billion to settle most of Lehman Bros suit

J.P Morgan Chase pays $1.42 billion to settle most of Lehman Bros suit

J.P. Morgan Chase has agreed to pay $1.42 billion to settle most of the litigation relating to the bankruptcy of Lehman Brothers, according to court documents seen Tuesday. Lehman Brothers had accused J.P. Morgan Chase, which was its primary lender, of dr
Published 27 Jan, 2016 12:00am
US consumer, housing data underscore economy's resilience

US consumer, housing data underscore economy's resilience

US consumer confidence improved in January despite a stock market rout and house prices accelerated in November, suggesting underlying strength in the economy despite a sharp growth slowdown in recent months. There are, however, signs the malaise from man
Published 27 Jan, 2016 12:00am
Watchdog slams EU's handling of bailouts

Watchdog slams EU's handling of bailouts

The handling of bailouts by the EU's executive arm was "generally weak" as it was unprepared for the size of the financial crisis, the bloc's auditors said in a report Tuesday. In a study of bailouts given to Hungary, Latvia, Romania, Ireland and Portugal
Published 27 Jan, 2016 12:00am
Watchdog slams EU's handling of bailouts

Watchdog slams EU's handling of bailouts

The handling of bailouts by the EU's executive arm was "generally weak" as it was unprepared for the size of the financial crisis, the bloc's auditors said in a report Tuesday. In a study of bailouts given to Hungary, Latvia, Romania, Ireland and Portugal
Published 27 Jan, 2016 12:00am
Year of 'Frankenshock' squeezes Swiss export margins
Exchange

Year of 'Frankenshock' squeezes Swiss export margins

Record US demand helped Swiss companies compensate for a slump in sales to the euro zone and Asia in 2015, even though exporters had to settle for slimmer margins after Switzerland lifted its exchange rate cap against the euro. The move to remove the thre
Published 27 Jan, 2016 12:00am
Rouhani pitches Iran as safest country in Middle East
Exchange

Rouhani pitches Iran as safest country in Middle East

President Hassan Rouhani on Tuesday described Iran as the safest and most stable country in the Middle East as he urged international investors to help modernise the country's sanctions-hit economy. On the second day of a landmark visit to Europe, the Ira
Published 27 Jan, 2016 12:00am
Iran's Bank Pasargad looks to draw investors and drive overseas
Exchange

Iran's Bank Pasargad looks to draw investors and drive overseas

Bank Pasargad, Iran's second-largest listed bank, is looking to raise capital and expand overseas now that the country is free of the shackles of sanctions, a senior official told Reuters. After years of being frozen out of the global financial system, Ir
Published 27 Jan, 2016 12:00am
IMF extends Kenya's existing credit facility as new one discussed

IMF extends Kenya's existing credit facility as new one discussed

Kenya's $680 million standby credit with the International Monetary Fund has been extended to March as both sides work on a new facility with similar features, the IMF's resident representative said. The East African nation secured the year-long, insuranc
Published 27 Jan, 2016 12:00am
Siemens to buy CD-adapco for close to $1 billion

Siemens to buy CD-adapco for close to $1 billion

Siemens AG, Europe's biggest industrial group, has agreed to buy CD-adapco, a privately held US engineering software firm, for close to $1 billion in cash, according to a person familiar with the matter. Siemens's deal with CD-adapco could be announced as
Published 27 Jan, 2016 12:00am
Irish central bank increases growth forecast

Irish central bank increases growth forecast

Ireland's central bank increased its forecast for 2015 economic growth to 6.6 percent on Tuesday from a 5.8 percent projection three months ago, based on higher employment growth, consumer spending and public and private investment. The upgrade puts the b
Published 27 Jan, 2016 12:00am
Thailand plans 35 billion baht boost to rural economy

Thailand plans 35 billion baht boost to rural economy

Thailand will consider a stimulus programme worth up to 35 billion baht ($972.49 million) to boost the rural economy, a deputy prime minister said on Monday, as the ruling junta tries to revive flagging growth. The army seized power in May 2014 to end mon
Published 27 Jan, 2016 12:00am
AmEx to cut $1 billion in costs by end of 2017

AmEx to cut $1 billion in costs by end of 2017

Credit card issuer American Express Co said it would cut $1 billion in costs by the end of 2017 as it responds to intensifying competition in the payments industry. The company reported its fourth straight decline in total revenue, net of interest expense
Published 27 Jan, 2016 12:00am
US MIDDAY: gold rises
Currency

US MIDDAY: gold rises

Gold rose to a 12-week high early on Tuesday, shrugging off strong stocks with nervous investors moving into safe havens as the US Federal Reserve began a two-day meeting expected to give clues about the timing of the next interest rate increase. Spot gol
Published 27 Jan, 2016 12:00am
US MIDDAY: wheat surges

US MIDDAY: wheat surges

Chicago Board of Trade wheat prices climbed to a one-month high Tuesday on chart-based buying and fund short-covering as the market digested news that Russia might limit grain exports, traders said. US corn futures firmed in rangebound trade, while soyabe
Published 27 Jan, 2016 12:00am
Gold retreats from 12-week high in Europe
Currency

Gold retreats from 12-week high in Europe

Gold retreated from a 12-week high hit on Tuesday as equities and oil recovered from an earlier rout, but concerns over market volatility kept the market in positive territory ahead of a Federal Reserve meeting. Chinese shares slumped 6 percent overnight
Published 27 Jan, 2016 12:00am
Gold jumps in Asia

Gold jumps in Asia

Gold rallied to its highest since November on Tuesday, with investors shifting to safe-haven assets as worries over a slowing global economy hit stocks and crude oil again. Spot gold was up 0.5 percent at $1,112.86 an ounce by 0635 GMT, after earlier peak
Published 27 Jan, 2016 12:00am
Gold rises in New York

Gold rises in New York

Gold rose 1 percent 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 Market
Published 27 Jan, 2016 12:00am
Sugar turns lower
Exchange

Sugar turns lower

Sugar futures on ICE turned lower on Tuesday as buyers stepped to the sidelines, but the spot white premium remained firm as traders focused on Chinese demand, while the strengthening British pound helped New York cocoa bounce up. Coffee futures were litt
Published 27 Jan, 2016 12:00am
Palm oil rises
Exchange

Palm oil rises

Malaysian palm oil futures rose for a second session on Tuesday, buoyed by expectations of lower output and as traders covered their short positions ahead of the Lunar New Year holidays, but gains were restricted as crude oil prices resumed their descent.
Published 27 Jan, 2016 12:00am
Wheat and soyabeans climb

Wheat and soyabeans climb

US wheat futures climbed to a one-week high on Monday on short-covering and concerns about the possibility that Russia might limit exports, traders said. Soyabeans rose, led by soyameal, while corn ended nearly unchanged. At the Chicago Board of Trade, Ma
Published 27 Jan, 2016 12:00am
Rubber down
Exchange

Rubber down

New benchmark Tokyo rubber futures tanked nearly 4 percent on Tuesday, hit by a flurry of sells after Shanghai and Tokyo stock markets plunged while crude oil prices took a renewed slide, driving investors to safety and boosting the safe-haven yen.
Published 27 Jan, 2016 12:00am
Copper, zinc up as bears retreat ahead of China break
Exchange

Copper, zinc up as bears retreat ahead of China break

Copper and zinc both gained on Tuesday as speculators scrambled to buy back short positions ahead of a holiday break in top metals consumer China and as oil prices bounced back. The lack of clarity ahead of the Chinese new year and a US central bank meeti
Published 27 Jan, 2016 12:00am
Shanghai copper slips
Exchange

Shanghai copper slips

The most-traded March copper contract on the Shanghai Futures Exchange slipped 0.1 percent to close at 35,100 yuan ($5,335) a tonne on Tuesday with a fresh tumble in oil prices underlining worries over a slackening global economy. Oil's slide back below $
Published 27 Jan, 2016 12:00am
Mixed trend seen on grain market
Cotton

Mixed trend seen on grain market

Prices moved both ways on the wholesale grain market on Tuesday in the process of moderate trading, dealers said. On the cereals side, Moong Sindh picked up Rs 125 to Rs 10375 and Moong Afghan followed same pattern, gaining Rs 250 to Rs 11750, they said.
Published 27 Jan, 2016 12:00am
Canadian canola futures eke out gain

Canadian canola futures eke out gain

ICE Canadian canola futures eked out a slim gain on Monday, halting a three-day skid in choppy two-sided trade. Canola was underpinned by a weaker Canadian dollar, but buying interest was lacklustre, with the market locked in a tight trading range, a trad
Published 27 Jan, 2016 12:00am
Cotton market: firmness prevails on moderate trade
Cotton

Cotton market: firmness prevails on moderate trade

Firmness prevailed on the cotton market on Tuesday in the process of moderate trading, dealers said. The official spot rate was unchanged at Rs 5,400, dealers confirmed on phone. In Sindh, prices of seed cotton were at Rs 2000 and Rs 3000 and in the Punja
Published 27 Jan, 2016 12:00am
Oil cake market rates
Cotton

Oil cake market rates

The March vaida was unchanged on the forward cottonseeds oilcake market on Tuesday in the process of trading, dealers said. The March vaida closed at Rs 2051.20 and it commenced with no change in the early hours, they said.
Published 27 Jan, 2016 12:00am
Activity at Karachi & Qasim ports

Activity at Karachi & Qasim ports

The Karachi Port handled 102,046 tonnes of cargo comprising 65,061 tonnes of import cargo and 36,985 tonnes of export cargo including 5,019 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargo of 65,
Published 27 Jan, 2016 12:00am
European wheat prices rise as Russia may again curb exports
Exchange

European wheat prices rise as Russia may again curb exports

European wheat prices rose on Monday as dealers covered short positions after reports Russia is considering increasing its grain export restrictions. Front month March wheat on the Paris-based Euronext exchange unofficially closed up 3.0 euros or 1.8 perc
Published 27 Jan, 2016 12:00am
US FOB Gulf corn, soya premiums mostly steady

US FOB Gulf corn, soya premiums mostly steady

Export premiums for corn and soyabeans shipped from the US Gulf Coast held mostly steady on Monday, underpinned by stable CIF barge basis values and moderate export demand, traders said. US wheat export premiums held mostly steady amid light demand.
Published 27 Jan, 2016 12:00am
Philippines 2015 coconut oil exports exceed forecast

Philippines 2015 coconut oil exports exceed forecast

Philippine exports of coconut oil in 2015 exceeded an industry forecast by 5 percent but were lower than the previous year due to the lingering impact of typhoons and a pest attack, industry data released on Tuesday showed. Shipments from the world's top
Published 27 Jan, 2016 12:00am
European vegoils: rapeoil prices fall slightly
Vegetable Oil

European vegoils: rapeoil prices fall slightly

Asking prices for rapeoil on the European vegetable oils market dropped slightly on Monday, pressured by renewed weakness in energy markets. "It was a slow Monday with tropical oils uneventful due to a Malaysian public holiday. Otherwise the only lead was
Published 27 Jan, 2016 12:00am
CBOT wheat futures rise on short-covering

CBOT wheat futures rise on short-covering

Wheat futures on the Chicago Board of Trade rose on Monday, with the March contract touching a one-week high on short-covering and talk that Russia might curb grain exports, traders said. K.C. hard red winter wheat and MGEX spring wheat futures also close
Published 27 Jan, 2016 12:00am
Daily trading report of PMEX
Exchange

Daily trading report of PMEX

On Monday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 3,460 million. The number of lots traded was 7.90 million. PMEX Commodity Index closed at 2,536. Major business was contributed by gold amounting to PKR 2,481 million followed by crud
Published 27 Jan, 2016 12:00am
Message from Federal Minister for Petroleum and Natural Resources

Message from Federal Minister for Petroleum and Natural Resources

"It's a matter of immense pleasure for me to be a part of the ten years celebrations of Bakri Pakistan. In ten years Bakri Pakistan has established itself as prominent Oil Marketing Company in the Petroleum Industry. Bakri Group is not new to Pakistan as
Published 27 Jan, 2016 12:00am
BAKRI PAKISTAN - MANAGEMENT PROFILE
Exchange

BAKRI PAKISTAN - MANAGEMENT PROFILE

Hussain Al Shammaa, Chief Executive Officer, Bakri and Honorary Investment Counsellor for Pakistan. He has more than 35 years of experience serving the Oil industry of the State of Kuwait. Hussain Al Shammaa is currently serving as Chief Executive
Published 27 Jan, 2016 12:00am
Strategies for downstream in an uncertain world

Strategies for downstream in an uncertain world

Last several months have seen the best oil analysts getting caught wrong-footed. Oil prices have risen when expected to stay low and have continued to dip when expected to rise.
Published 27 Jan, 2016 12:00am
ABOUT THE GROUP
Exchange

ABOUT THE GROUP

Bakri Group of Saudi Arabia is known for its international outlook and diversity and is pursuing a journey of expanding its international horizons. The group was founded in 1973 and has presence in Middle East, South East Asia and Far East Regions. Bakri
Published 27 Jan, 2016 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 27 Jan, 2016 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 27 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 27 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 27 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 Tuesday (January 26, 2016).

Published 27 Jan, 2016 12:00am
Punjab closes all schools citing cold, not security

Punjab closes all schools citing cold, not security

Punjab province has ordered schools shut for five days and told 22.5 million students to stay at home - not because of security fears after gunmen attacked a university but because of cold weather, an official said on Tuesday. Punjab Education Minister Ra
Published 27 Jan, 2016 12:00am
Money Market Report
Kerb

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (January 26, 2016).
Published 27 Jan, 2016 12:00am
Punjab closes all schools citing cold, not security

Punjab closes all schools citing cold, not security

Punjab province has ordered schools shut for five days and told 22.5 million students to stay at home - not because of security fears after gunmen attacked a university but because of cold weather, an official said on Tuesday. Punjab Education Minister Ra
Published 27 Jan, 2016 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (January 26, 2016).

Published 27 Jan, 2016 12:00am
Opposition leader demands judicial inquiries

Opposition leader demands judicial inquiries

Leader of the Opposition in the National Assembly Syed Khursheed Shah Tuesday called upon the government to order judicial inquiries into militant attacks on Bacha Khan University and Peshawar's Army Public School (APS). Khursheed Shah stated that federal
Published 27 Jan, 2016 12:00am
Opposition leader demands judicial inquiries

Opposition leader demands judicial inquiries

Leader of the Opposition in the National Assembly Syed Khursheed Shah Tuesday called upon the government to order judicial inquiries into militant attacks on Bacha Khan University and Peshawar's Army Public School (APS). Khursheed Shah stated that federal
Published 27 Jan, 2016 12:00am
Indo-Pak talks: 'both sides are in touch': FO

Indo-Pak talks: 'both sides are in touch': FO

Foreign Office insisted on Tuesday that both Pakistan and India are in touch to decide the date for the meeting of the foreign secretaries of the two countries amid statements from India that "talks cannot continue along with violence". "Both sides are in
Published 27 Jan, 2016 12:00am
Indo-Pak talks: 'both sides are in touch': FO

Indo-Pak talks: 'both sides are in touch': FO

Foreign Office insisted on Tuesday that both Pakistan and India are in touch to decide the date for the meeting of the foreign secretaries of the two countries amid statements from India that "talks cannot continue along with violence". "Both sides are in
Published 27 Jan, 2016 12:00am
Slowing emerging markets hamper oil recovery: World Bank

Slowing emerging markets hamper oil recovery: World Bank

The World Bank warned Tuesday that slowing emerging-market economies were hampering an oil recovery, and prices could sink further in a blow to a "fragile" global economy. Crude oil in 2016 is projected to come in at $37 a barrel, down from its October es
Published 27 Jan, 2016 12:00am
Slowing emerging markets hamper oil recovery: World Bank

Slowing emerging markets hamper oil recovery: World Bank

The World Bank warned Tuesday that slowing emerging-market economies were hampering an oil recovery, and prices could sink further in a blow to a "fragile" global economy. Crude oil in 2016 is projected to come in at $37 a barrel, down from its October es
Published 27 Jan, 2016 12:00am
Slowing emerging markets hamper oil recovery: World Bank

Slowing emerging markets hamper oil recovery: World Bank

The World Bank warned Tuesday that slowing emerging-market economies were hampering an oil recovery, and prices could sink further in a blow to a "fragile" global economy. Crude oil in 2016 is projected to come in at $37 a barrel, down from its October es
Published 27 Jan, 2016 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (January 26, 2016).

Published 27 Jan, 2016 12:00am
Slowing emerging markets hamper oil recovery: World Bank

Slowing emerging markets hamper oil recovery: World Bank

The World Bank warned Tuesday that slowing emerging-market economies were hampering an oil recovery, and prices could sink further in a blow to a "fragile" global economy. Crude oil in 2016 is projected to come in at $37 a barrel, down from its October es
Published 27 Jan, 2016 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (January 26, 2016).

Published 27 Jan, 2016 12:00am
Stocks end nearly flat
Exchange

Stocks end nearly flat

Pakistan Stock Exchange (PSX) on Tuesday closed almost flat amid global equities turmoil. After the opening bell, the index started to decline and lost about 180 points during the first trading session, however, recovery was seen in the second session and
Published 27 Jan, 2016 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Tuesday (January 26, 2016).

Published 27 Jan, 2016 12:00am
Stocks end nearly flat
Exchange

Stocks end nearly flat

Pakistan Stock Exchange (PSX) on Tuesday closed almost flat amid global equities turmoil. After the opening bell, the index started to decline and lost about 180 points during the first trading session, however, recovery was seen in the second session and
Published 27 Jan, 2016 12:00am
Stocks end nearly flat
Exchange

Stocks end nearly flat

Pakistan Stock Exchange (PSX) on Tuesday closed almost flat amid global equities turmoil. After the opening bell, the index started to decline and lost about 180 points during the first trading session, however, recovery was seen in the second session and
Published 27 Jan, 2016 12:00am
BRIndex30 up 3.49 points

BRIndex30 up 3.49 points

On Tuesday, BRIndex30 opened at 18,919.96 points. It touched an intraday high of 18,953.91 points and an intraday low of 18,803.56 points and closed at 18,923.45 points which was 3.49 points or 0.02 percent higher than previous close. Total volume was 67,
Published 27 Jan, 2016 12:00am
BRIndex30 up 3.49 points

BRIndex30 up 3.49 points

On Tuesday, BRIndex30 opened at 18,919.96 points. It touched an intraday high of 18,953.91 points and an intraday low of 18,803.56 points and closed at 18,923.45 points which was 3.49 points or 0.02 percent higher than previous close. Total volume was 67,
Published 27 Jan, 2016 12:00am