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Mar 25, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-03-03
FMA to hold seminar on financial crisis today

FMA to hold seminar on financial crisis today

Financial Markets Association (FMA), in collaboration with Landmark Capital, will hold a seminar titled 'can we beat the financial crisis' on Thursday. Dean and Director, Institute of Business Administration, Dr Ishrat Husain, will be the chief guest. The
Published 03 Mar, 2016 12:00am
Executive released in Brazil

Executive released in Brazil

Facebook's vice president for Latin America was released Wednesday, a day after being arrested for refusing to hand over WhatsApp messages to the police investigating a drugs case. Judge Ruy Pinheiro, in Sergipe state, ruled overnight that the detention o
Published 03 Mar, 2016 12:00am
India court grants bail to student in sedition row

India court grants bail to student in sedition row

An Indian court Wednesday granted bail to a student leader whose arrest on a controversial sedition charge last month sparked major protests and a nation-wide debate over free speech.
Published 03 Mar, 2016 12:00am
South Sudan joins regional East Africa bloc

South Sudan joins regional East Africa bloc

War-torn South Sudan was admitted Wednesday into the regional East African Community (EAC), the bloc said, which works to encourage trade and simplify customs duties between members. The EAC, based in the Tanzanian town of Arusha, now expands the bloc to
Published 03 Mar, 2016 12:00am
Cuba reports first case of Zika

Cuba reports first case of Zika

Cuba has detected the first case of Zika in a Venezuelan doctor who came to the island for postgraduate studies, the health ministry said Wednesday. The 28-year-old woman, who arrived in Cuba on February 21, is hospitalised at the Pedro Kouri Tropical Med
Published 03 Mar, 2016 12:00am
Palestinians turn to makeshift guns in escalation of street violence

Palestinians turn to makeshift guns in escalation of street violence

During previous rounds of Palestinian violence, Israeli raids on the occupied West Bank would turn up small arsenals of military assault rifles. Now hauls more often include what look like toy guns and the tools required to make them lethal.
Published 03 Mar, 2016 12:00am
EU launches emergency refugee aid scheme for Greece

EU launches emergency refugee aid scheme for Greece

The European Union, faced with a growing refugee crisis in Greece, launched a new aid programme on Wednesday worth an initial 700 million euros that mirrors the kind of disaster relief it offers developing nations.
Published 03 Mar, 2016 12:00am
German concertgoers hurl insults at Iranian musician

German concertgoers hurl insults at Iranian musician

One of Germany's leading concert halls has expressed shock after a performance by an Iranian harpsichord virtuoso ended in a tumult with disgruntled concertgoers shouting at him to "speak in German".
Published 03 Mar, 2016 12:00am
Aussie rallies, kiwi subdued

Aussie rallies, kiwi subdued

The Australian dollar staged a broad rally on Wednesday, while debt futures fell further after the economy grew at a much faster rate than expected, prompting markets to mark down the risk of a further cut in interest rates.
Published 03 Mar, 2016 12:00am
Sterling at nine-day high against dollar
Currency

Sterling at nine-day high against dollar

Sterling rose to a nine-day high on Wednesday, trading above $1.40, as some investors trimmed large bets against the currency in the absence of fresh clues from polls on whether Britain is likely to leave the European Union. The pound also rose more than
Published 03 Mar, 2016 12:00am
Bangladesh's interbank forex and interest rates

Bangladesh's interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 78.45-78.45 (previous 78.45-78.45). 02.50-04.50 percent (* Previous 02.25-04.50 percent). (* revised).
Published 03 Mar, 2016 12:00am
Asian currencies gain
Currency

Asian currencies gain

Emerging Asian currencies rose on Wednesday as signs of a recovery in the US manufacturing sector helped ease worries about the outlook for global growth and spurred buying of risky assets.
Published 03 Mar, 2016 12:00am
Sri Lankan rupee forwards up
Currency

Sri Lankan rupee forwards up

Sri Lankan rupee forwards ended slightly firmer on Wednesday on dollar selling by a foreign bank, but dealers said the currency would face downward pressure due to seasonal demand from importers and after a downgrade by Fitch Ratings.
Published 03 Mar, 2016 12:00am
Dollar gains against yen, euro in New York
Currency

Dollar gains against yen, euro in New York

The US dollar rebounded against the yen and hit one-month highs against the euro on Tuesday after traders saw the yen's rally as overextended, while strong US manufacturing data supported views of higher US interest rates.
Published 03 Mar, 2016 12:00am
Dollar rises against basket of currencies in Europe
Currency

Dollar rises against basket of currencies in Europe

The dollar traded around a one-month high against a basket of major currencies on Wednesday, after encouraging US economic data led investors to bet that the Federal Reserve may raise interest rates this year after all.
Published 03 Mar, 2016 12:00am
Dollar steadies in Asia
Currency

Dollar steadies in Asia

The dollar was steady against a basket of currencies in Asia on Wednesday, not far from the previous session's one-month high touched after brighter economic data rekindled expectations that the US Federal Reserve could raise interest rates this year.
Published 03 Mar, 2016 12:00am
Yuan moves up

Yuan moves up

China's yuan edged up against the dollar on Wednesday, shrugging off the decision by rating agency Moody's to downgrade the outlook for Chinese sovereign debt. Moody's changed its outlook on Chinese government debt to "negative" from "stable", citing unce
Published 03 Mar, 2016 12:00am
Banks & DFIs: SBP withdraws reporting condition

Banks & DFIs: SBP withdraws reporting condition

State Bank of Pakistan announced Wednesday that banks and DFIs are not required to report the information of the person terminated on account of fraud. Previously, under the verification of antecedents of persons seeking employment in banks/DFIs, banks we
Published 03 Mar, 2016 12:00am
Three-day architect convention begins

Three-day architect convention begins

The three day Architects annual convention and building material exposition begins. The theme of the 3rd convention is "the opportunities and challenges"of the China Pakistan Economic Corridor. Chief Minister Punjab, Muhammad Shahbaz Sharif will inaugurat
Published 03 Mar, 2016 12:00am
Multinational companies' directors, others: LTU-II begins tax assessment

Multinational companies' directors, others: LTU-II begins tax assessment

The newly-established Large Taxpayers Unit (LTU)-II has started tax assessment of the directors of multinational companies and other big shots to meet its unprecedented revenue target for last quarter of current fiscal year; it was learnt here on Wednesda
Published 03 Mar, 2016 12:00am
Bahria Town Mall accused of violating rules
Exchange

Bahria Town Mall accused of violating rules

Bahria Town's announcement of a 101 storey "Mall of Islamabad" in Blue Area violates Civil Aviation Authority (CAA) Rules prohibiting construction of more than 500ft, approx 30 storey high, within 15 kilometers of the airport making it non-appropriate-fun
Published 03 Mar, 2016 12:00am
Sartaj highlights prospects of Pakistan-US relations

Sartaj highlights prospects of Pakistan-US relations

Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz addressed members of the Council on Foreign Relations (CFR) on "Prospects of Pakistan-US Relations," in Washington DC on Tuesday.
Published 03 Mar, 2016 12:00am
Sir Simon Gass meets Fatemi
Exchange

Sir Simon Gass meets Fatemi

The Special Assistant to Prime Minister on Foreign Affairs, Tariq Fatemi, received Sir Simon Gass, Director General (Political), Foreign and Commonwealth Office of the United Kingdom, at the Ministry of Foreign Affairs on Wednesday. The Special Assistant
Published 03 Mar, 2016 12:00am
Chairman SECP visits PMEX
Exchange

Chairman SECP visits PMEX

The Chairman, Securities & Exchange Commission of Pakistan (SECP) Zafar Hijazi, along with his team, visited the Pakistan Mercantile Exchange (PMEX) on Wednesday to discuss issues hindering the swift launch of various agricultural commodities at PMEX.
Published 03 Mar, 2016 12:00am
KP, FATA people sacrifice a lot for country: Nisar

KP, FATA people sacrifice a lot for country: Nisar

Interior Minister Chaudhry Nisar Ali Khan hoped that the nominated Governor of Khyber Pakhtunkhwa Iqbal Zafar Jhagra would play key role in progress and restoration of peace in the province. Talking to Iqbal Zafar Jhagra, who called on him here, the Minis
Published 03 Mar, 2016 12:00am
Sindh Bank earns Rs 1,230 million profit after tax

Sindh Bank earns Rs 1,230 million profit after tax

The Board of Directors of Sindh Bank met on March 1, 2016 to review and approve the annual audited accounts for the year ended December 31, 2015. During the year the bank earned a profit before tax of Rs 2,051 million registering an increase of 27.3 perce
Published 03 Mar, 2016 12:00am
Sindh Bank earns Rs 1,230 million profit after tax

Sindh Bank earns Rs 1,230 million profit after tax

The Board of Directors of Sindh Bank met on March 1, 2016 to review and approve the annual audited accounts for the year ended December 31, 2015. During the year the bank earned a profit before tax of Rs 2,051 million registering an increase of 27.3 perce
Published 03 Mar, 2016 12:00am
NA-267: Supreme Court directs ECP for re-poll

NA-267: Supreme Court directs ECP for re-poll

Announcing its judgement about NA-267 Jhal Magsi election plea on Wednesday, the Supreme Court issued directives to the Election Commission of Pakistan (ECP) for re-poll in the constituency.
Published 03 Mar, 2016 12:00am
T20 World Cup: Nisar concerned at security of cricket team

T20 World Cup: Nisar concerned at security of cricket team

Minister for Interior and Narcotics Control Chaudhry Nisar Ali Khan on Wednesday expressed concern over security of Pakistan cricket team during its likely visit to India for T20 World Cup. Interior Minister said Pakistan cricket team would get permission
Published 03 Mar, 2016 12:00am
Pemra imposes fines on TV channels

Pemra imposes fines on TV channels

Pakistan Electronic Media Regulatory Authority (PEMRA) Council of Complaints Lahore in its 59th meeting held under the chairmanship of Dr Mehdi Hasan on Wednesday. The Council recommended imposition of a Rs 100,000 fine on Channel-24 for conducting malici
Published 03 Mar, 2016 12:00am
Upgradation of plants: local refineries may be given another extension

Upgradation of plants: local refineries may be given another extension

The Ministry of Petroleum and Natural Resources is expected to give another year and a half to local refineries to upgrade their plants by installing Diesel Hydro De-Sulpurisation (DHDS) by June 30, 2017. In 2010, the local refineries were directed to upg
Published 03 Mar, 2016 12:00am
Karachi-Chittagong shipping line to reduce time, cost: Bangladesh HC

Karachi-Chittagong shipping line to reduce time, cost: Bangladesh HC

High Commissioner of Bangladesh Suhrab Hossain, while underscoring the need of having direct shipping line between Karachi and Chittagong, said that initiation of direct shipping line between the two countries would not only reduce time but will also brin
Published 03 Mar, 2016 12:00am
US envoy meets Nisar

US envoy meets Nisar

US Ambassador to Pakistan, David Hale called on Interior Minister Chaudhry Nisar Ali Khan here on Wednesday. They discussed bilateral relations, ongoing cooperation in various fields, Pak-US strategic dialogue, bilateral cooperation in Counter Terrorism d
Published 03 Mar, 2016 12:00am
Senate body to introduce bill on agriculture price commission
Cotton

Senate body to introduce bill on agriculture price commission

Senate Standing Committee on National Food Security and Research on Wednesday decided to bring in a private member bill for setting up of Federal Agriculture Price Commission aimed at providing relief to small farmers and strengthen the country's agricult
Published 03 Mar, 2016 12:00am
PTCL appoints Dr Daniel Ritz as President, CEO

PTCL appoints Dr Daniel Ritz as President, CEO

The Board of Directors of Pakistan Telecommunications Company Ltd (PTCL) has announced the appointment of Dr Daniel Ritz as President and CEO of the PTCL Group with effect from 3rd March 2016. He succeeds Walid Irshaid, who was President and CEO of the PT
Published 03 Mar, 2016 12:00am
Reduction in power tariff hailed

Reduction in power tariff hailed

The business community has hailed the decision of the government to approve Rs 4.11 per unit reduction in power tariff for January under the monthly fuel price adjustment formula. Reduction in transport fares by 11.90 percent describing it a good step.
Published 03 Mar, 2016 12:00am
Waterspout shows up off Balochistan coast

Waterspout shows up off Balochistan coast

A fair-weather waterspout showed up off Balochistan coast, that is a rare phenomenon on the country's sea horizons. A waterspout that looked like a tornado caught on a fisherman's cellular lens some 24 nautical miles off Balochistan coast during a tuna hu
Published 03 Mar, 2016 12:00am
Chinese company keen to set up steel unit in Punjab

Chinese company keen to set up steel unit in Punjab

A Chinese company has expressed keen interest in establishing a steel mill in Punjab during a high level meeting at Punjab Board of Investment and Trade (PBIT). Ansteel International Trading Company is one of China's leading steel and titanium manufacture
Published 03 Mar, 2016 12:00am
FTSE slips back as ITV and Intertek decline

FTSE slips back as ITV and Intertek decline

Britain's top equity index fell on Wednesday, with the market's earlier gains fizzling out as oil prices weakened, while shares in ITV and Intertek also declined. The blue-chip FTSE 100 index ended down 0.1 percent at 6,147.06 points, closing lower for th
Published 03 Mar, 2016 12:00am
SE Asian markets: Philippines gains most in five weeks
Exchange

SE Asian markets: Philippines gains most in five weeks

Southeast Asian stock markets rose on Wednesday as foreign investors bought into beaten down stocks on improved global risk appetite, with Philippines posting its best gain in five weeks and the Thai index hitting a more than 3-month peak.
Published 03 Mar, 2016 12:00am
Hong Kong shares hit seven-week high

Hong Kong shares hit seven-week high

Hong Kong stocks jumped over 3 percent on Wednesday to their highest level in seven weeks, with investor sentiment lifted by strength in global markets as well as a more than 4 percent jump in mainland China shares. The Hang Seng index rose 3.1 percent to
Published 03 Mar, 2016 12:00am
Australian shares rise

Australian shares rise

Australian shares rose 2 percent on Wednesday as investors cheered data showing the domestic economy beat all forecasts to grow at its fastest pace in almost ttwo years in October-December The S&P/ASX 200 index rose 98.948 points to 5,021.200 points, buil
Published 03 Mar, 2016 12:00am
European shares soar

European shares soar

European shares rose on Wednesday, with banks making their fifth straight day of gains after previously suffering heavy losses, while eyewear maker Luxottica led the losers after it trimmed its profit guidance. The pan-European FTSEurofirst 300 index ende
Published 03 Mar, 2016 12:00am
Chinese stocks jump

Chinese stocks jump

China stocks had their best day in four months, jumping over 4 percent, as investors piled into real estate and resources shares, encouraged by tentative signs of recovery in the property market. Investors shrugged off news that rating agency Moody's cut
Published 03 Mar, 2016 12:00am
Indian stocks surge two percent as banks rally

Indian stocks surge two percent as banks rally

India's BSE index jumped nearly 2 percent on Wednesday to post its best two-day gain in almost seven years, led by banking stocks after the central bank eased capital requirement rules, while other blue chips gained tracking a rally in Asian markets.
Published 03 Mar, 2016 12:00am
Sri Lankan shares lower for third day

Sri Lankan shares lower for third day

Sri Lankan shares fell for a third straight session on Wednesday as a downgrade by Fitch Ratings of some companies that hold dollar bonds hit investor sentiment, traders said, days after the ratings agency downgraded the country's sovereign rating.
Published 03 Mar, 2016 12:00am
Bond prices slide

Bond prices slide

US Treasury yields rose to near two-week highs on Tuesday after data showed US manufacturing activity rebounded in February in a sign of economic resilience that weakened investor demand for safe-haven government debt.
Published 03 Mar, 2016 12:00am
Bond prices slide

Bond prices slide

US Treasury yields rose to near two-week highs on Tuesday after data showed US manufacturing activity rebounded in February in a sign of economic resilience that weakened investor demand for safe-haven government debt.
Published 03 Mar, 2016 12:00am
Wall Street chalks up strongest day in a month
Exchange

Wall Street chalks up strongest day in a month

Wall Street enjoyed its strongest session in a month on Tuesday, led by financial and technology stocks after encouraging US factory and construction data suggested the world's biggest economy was regaining momentum. The S&P 500 closed 2.39 percent higher
Published 03 Mar, 2016 12:00am
Tokyo stocks soar

Tokyo stocks soar

Tokyo shares roared back to life Wednesday, soaring more than four percent on upbeat US data and China's fresh stimulus, which bolstered hopes for the world economy. The Japanese market got off to a strong start after Wall Street rallied Tuesday as report
Published 03 Mar, 2016 12:00am
Rolls-Royce appoints activist investor to board

Rolls-Royce appoints activist investor to board

Rolls-Royce has given its largest shareholder, US activist fund ValueAct Capital, a seat on its board as the British engine maker seeks to revive its fortunes, the group announced Wednesday. Bradley Singer, a partner and chief operating officer at San Fra
Published 03 Mar, 2016 12:00am
German new car sales up 12.1 percent

German new car sales up 12.1 percent

New car registrations in Germany, a key indicator of demand in Europe's top economy, rose strongly in February, data showed on Wednesday. A total of 250,302 new cars were registered last month, an increase of 12.1 percent compared with the figure for the
Published 03 Mar, 2016 12:00am
Jewellers across gold-loving India strike over tax

Jewellers across gold-loving India strike over tax

Jewellers across gold-loving India started a three-day strike on Wednesday in a bid to force the government to shelve plans for a controversial excise tax announced in this week's budget. Indian finance minister Arun Jaitley on Monday proposed to reintrod
Published 03 Mar, 2016 12:00am
Shell faces fresh Nigeria pollution claims in London

Shell faces fresh Nigeria pollution claims in London

Oil giant Royal Dutch Shell came under renewed scrutiny on Wednesday over its environmental record in Nigeria after lawyers brought fresh claims of damage caused by spills to a London court. British legal firm Leigh Day has filed two cases at the High Cou
Published 03 Mar, 2016 12:00am
Airbus starts work on new China facility
Exchange

Airbus starts work on new China facility

Europe's largest aircraft manufacturer Airbus started construction Wednesday on a new facility to deliver wide-body planes in China, as it faces off against bitter US rival Boeing for market share in the world's second-largest economy.
Published 03 Mar, 2016 12:00am
US overtakes France as Germany's biggest trading partner
Exchange

US overtakes France as Germany's biggest trading partner

The United States overtook France to become Germany's most important trading partner last year for the first time in 40 years, official data showed on Wednesday. The development, which had already started to become discernible in the middle of last year,
Published 03 Mar, 2016 12:00am
Euro bank margins hold up, leaving room for more ECB easing

Euro bank margins hold up, leaving room for more ECB easing

Eurozone banks are making the same margin on loans as they were before the financial crisis, ECB data showed on Wednesday, running counter to complaints that ultra-low interest rates are damaging their business.
Published 03 Mar, 2016 12:00am
Australia economy speeds to three percent

Australia economy speeds to three percent

Australia's economy outpaced all forecasts to grow at the fastest pace in almost two years last quarter, a hopeful sign the worst of the global commodity rout may be over for the resource-rich nation. Wednesday's upbeat report sent the local dollar leapin
Published 03 Mar, 2016 12:00am
China eyes 13 percent money supply growth to buffer economy

China eyes 13 percent money supply growth to buffer economy

China plans to target broad-based money supply growth of around 13 percent this year, sources said, a signal that further monetary policy easing is likely during a painful economic restructuring that could see millions of workers losing jobs.
Published 03 Mar, 2016 12:00am
NGOs sue Monsanto, EU food safety watchdog over pesticide

NGOs sue Monsanto, EU food safety watchdog over pesticide

A group of European NGOs on Wednesday sued agri-giant Monsanto and the EU's food safety watchdog for allegedly distorting scientific data on the carcinogenic effects of controversial weedkiller glyphosate, ahead of a key EU vote to renew its approval for
Published 03 Mar, 2016 12:00am
Irish tax revenues rise, spending falls in February

Irish tax revenues rise, spending falls in February

Ireland collected 7.1 percent more tax in February than a year ago, driven by a rise in levies on income, while spending fell compared to the same point in 2015, the country's finance department said on Wednesday.
Published 03 Mar, 2016 12:00am
FPCCI chief hails cut in petrol prices

FPCCI chief hails cut in petrol prices

The President FPCCI Abdul Rauf Alam has appreciated the decision of the government to slash the petrol prices by Rs 8.48 and stated that FPCCI has been emphasising on reduction in oil prices which are regulated by the government in Pakistan.
Published 03 Mar, 2016 12:00am
Price fixing: CCP slaps Rs 100 million fine on PPA
Exchange

Price fixing: CCP slaps Rs 100 million fine on PPA

The Competition Commission of Pakistan (CCP) has issued an order imposing a fine of Rs100 million on the Pakistan Poultry Association (PPA) for price fixing of poultry products, in violation of Section 4 of the Competition Act, 2010.
Published 03 Mar, 2016 12:00am
TV channel: Senate body asks ministry to submit its version

TV channel: Senate body asks ministry to submit its version

The Senate Committee on Information, Broadcasting and National Heritage directed Interior Ministry to submit its version with respect to Bol channel issues with a warning to submit the Bill to access information otherwise it will be presented in the Senat
Published 03 Mar, 2016 12:00am
Four judges of LHC: JCP recommends confirmation

Four judges of LHC: JCP recommends confirmation

The Judicial Commission of Pakistan on Wednesday recommended the confirmation of four Lahore High Court (LHC) judges including Justice Shams Mahmood Mirza, Justice Shahbaz Rizvi, Justice Shahid Jameel Khan and Justice Faisal Zaman Khan.
Published 03 Mar, 2016 12:00am
Expected heavy rains to trigger floods in Balochistan

Expected heavy rains to trigger floods in Balochistan

The Met Office on Wednesday forecast widespread rains with isolated heavy thundershowers for Balochistan in the next two days. It warned that the heavy falls were feared to trigger flash flooding in vulnerable parts of the province. It asked the concerned
Published 03 Mar, 2016 12:00am
Rubber surges
Exchange

Rubber surges

Benchmark Tokyo rubber futures surged to a 1-month high on Wednesday as sharp gains in Asian stock prices as well as Shanghai rubber futures prompted a flurry of short-covering while the yen's dip added further support, dealers said. The Tokyo Commodity E
Published 03 Mar, 2016 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 69,773 tonnes of cargo comprising 40,982 tonnes of import cargo and 28,791 tonnes of export cargo including 3,212 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday. The total import cargo of 40
Published 03 Mar, 2016 12:00am
Russian wheat export prices down, track global benchmarks

Russian wheat export prices down, track global benchmarks

Russian wheat export prices fell last week as traders were trying to return to more competitive levels amid a decline in global benchmarks, analysts said on Tuesday. Russian exporters face a difficult time in the coming weeks as domestic sellers are reluc
Published 03 Mar, 2016 12:00am
Vietnam coffee sales pick up on higher prices

Vietnam coffee sales pick up on higher prices

Vietnam's domestic coffee sales have picked up on higher prices, boosted by foreign buying demand and possible damage from dry weather, but the price gain could be short-lived, traders said on Tuesday. May robusta coffee settled up 3.4 percent at $1,413 p
Published 03 Mar, 2016 12:00am
Asian naphtha crack at 1-1/2 week low

Asian naphtha crack at 1-1/2 week low

Asia's naphtha crack for front-month second-half April at $60.08 a tonne on Tuesday was the lowest front-month value in 1-1/2 weeks as the market remained awash with supplies, traders said. Too many European and Mediterranean naphtha cargoes were chasing
Published 03 Mar, 2016 12:00am
Daily trading report of PMEX
Exchange

Daily trading report of PMEX

On Tuesday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 4,827 million. The number of lots traded was 19.26 million. PMEX Commodity Index closed at 2,628. Major business was contributed by gold amounting to PKR 4,235 million followed by cr
Published 03 Mar, 2016 12:00am
Indian soyabean falls on weak export demand
Vegetable Oil

Indian soyabean falls on weak export demand

Indian soyabean fell on weak export demand for meals on Monday, while rapeseed dropped due to thin domestic demand. The March soyabean contract on the National Commodity & Derivatives Exchange declined 1.4 percent to 3,664 rupees ($53.56) per 100 kg.
Published 03 Mar, 2016 12:00am
US MIDDAY: gold springs back

US MIDDAY: gold springs back

Gold rebounded on Wednesday as the US dollar turned lower, shrugging off a turn higher in global shares and better-than-expected US economic data. Spot gold, lower initially, rose 0.8 percent to $1,241.70 an ounce by 3:14 pm EST (2014 GMT), while US gold
Published 03 Mar, 2016 12:00am
US MIDDAY: wheat rallies
Exchange

US MIDDAY: wheat rallies

Chicago Board of Trade wheat futures rallied to close higher on Wednesday as traders covered short positions following the market's drop to its lowest level in nearly six years. Soyabean futures also advanced on bargain buying, halting a six-session slide
Published 03 Mar, 2016 12:00am
Oil steady, shrugs off big US crude build and erases early dip

Oil steady, shrugs off big US crude build and erases early dip

Oil prices held steady on Wednesday as buyers banked on production limit plans to counter record high US crude stockpiles, keeping alive hopes the market had bottomed from the selloff that began nearly two years ago.
Published 03 Mar, 2016 12:00am
US mulls options as sugar refiners face supply crunch

US mulls options as sugar refiners face supply crunch

The US government is considering boosting raw sugar imports as refiners face a supply crunch due to a trade spat with Mexico and rising cane demand as food makers use less genetically modified ingredients, company and government officials said.
Published 03 Mar, 2016 12:00am
Gold rebounds in Europe
Exchange

Gold rebounds in Europe

Gold rebounded on Wednesday as global shares turned lower after a fall in oil prices, shrugging off a steadier dollar following better-than-expected US economic data. Spot gold, lower initially, rose 0.5 percent to $1,237.71 an ounce by 1515 GMT, while US
Published 03 Mar, 2016 12:00am
Gold extends losses in Asia

Gold extends losses in Asia

Gold dropped for a second straight session on Wednesday as global equities and the dollar rose following strong US manufacturing data that rekindled speculation the Federal Reserve could hike interest rates this year. Other safe-haven assets also fell, wi
Published 03 Mar, 2016 12:00am
Gold turns lower in New York
Exchange

Gold turns lower in New York

Gold turned lower on Tuesday, as the dollar and global equity markets rose on better-than-expected US data, fuelling speculation the Fed will raise US interest rates. Palladium surged more than 6 percent on strong US auto sales.
Published 03 Mar, 2016 12:00am
Raw sugar climbs

Raw sugar climbs

Raw sugar futures extended gains to an eight-week high on Wednesday, with supplies tightened by drought-hit crops in Thailand and India, and the prospect of increased use of Brazilian cane by the ethanol sector, dealers said. Arabica coffee futures turned
Published 03 Mar, 2016 12:00am
Palm oil falls
Vegetable Oil

Palm oil falls

Malaysian palm oil futures fell to their lowest in a month on Wednesday, weighed down by a stronger ringgit and weak export demand. The palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange closed 1.9 percent lower at its intra-day
Published 03 Mar, 2016 12:00am
Wheat falls to multi-year lows

Wheat falls to multi-year lows

US wheat futures fell to multi-year lows on Tuesday, pressured by strength in the dollar and better crop conditions than last year in the Plains, analysts said. Soyabean and corn futures were also mostly down, with the most-active May contracts in both ma
Published 03 Mar, 2016 12:00am
EFU Life Assurance
Exchange

EFU Life Assurance

Even after decades of existence, the life insurance sector appears to be a nascent industry. Insurance penetration rates for Pakistan are lowest in the region - 0.5 percent of the GDP compared to India's 2.6 percent. A long period of monopoly from early 7
Published 03 Mar, 2016 12:00am
EFU Life Assurance
Exchange

EFU Life Assurance

Even after decades of existence, the life insurance sector appears to be a nascent industry. Insurance penetration rates for Pakistan are lowest in the region - 0.5 percent of the GDP compared to India's 2.6 percent. A long period of monopoly from ear
Published 03 Mar, 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 03 Mar, 2016 12:00am
Scarcity of water

Scarcity of water

Through the columns of your renowned and well-reputed newspaper, I want to draw the attention of higher authorities towards acute shortage of water in Karachi. The Sindh government, KWSB and the district administration miserably have failed to deliver to
Published 03 Mar, 2016 12:00am
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