Brazil's state-run oil company Petroleo Brasileiro SA said on Friday it plans to sell its rights to 104 onshore oil and gas concessions, part of efforts to raise cash and focus increasingly scarce capital on more profitable offshore assets. The company, k
The International Monetary Fund said on Friday it will separately identify China's yuan currency in its official foreign exchange reserves database starting October 1, a move prompted by the yuan's new status in the Fund's reserve currency basket. The mov
Credit ratings agency Fitch downgraded South Africa's Barclays Africa Group, citing a lower likelihood of support from the bank's British parent as it sells down its stake. Barclays plc said on Wednesday it would sell its 62 percent holding in Johannesbur
Credit ratings agency Fitch downgraded South Africa's Barclays Africa Group, citing a lower likelihood of support from the bank's British parent as it sells down its stake. Barclays plc said on Wednesday it would sell its 62 percent holding in Johannesbur
Workers at ArcelorMittal's steel plant in western Mexico went on strike on Friday, the company and the national union said, as the industry grapples with a plunge in prices. More than 3,000 workers have gone on strike over job cuts and stopped operations
China aims to keep energy consumption within 5 billion tonnes of standard coal equivalent by 2020, it said in its five-year plan published on Saturday, marking the first time the world's second-biggest economy has set such a target. China has long been co
Moody's has lowered the credit ratings of Oman and Bahrain and placed the remaining Gulf oil exporters on review for downgrade, saying low crude prices have weakened their economies. The cut was made to "reflect the impact of the continued large fall in o
Moody's has lowered the credit ratings of Oman and Bahrain and placed the remaining Gulf oil exporters on review for downgrade, saying low crude prices have weakened their economies. The cut was made to "reflect the impact of the continued large fall in o
Poland's zloty may weaken further against the euro and the dollar, and a weak zloty is good for exports and the economy, the newly-appointed member of the central bank's rate-setting panel Jerzy Kropiwnicki said. "It is not a big worry for me that zloty w
Nigeria only has itself to blame for its current economic troubles, President Muhammadu Buhari said in an interview broadcast on Saturday, criticising previous governments for an over-reliance on crude revenues. Africa's biggest oil producer and leading e
Panama's economy grew at its slowest rate in five years in 2015, data showed on Friday, missing government estimates as infrastructure projects were stalled. The economy grew 5.8 percent, the comptroller office said, driven by financial services, the Pana
Wheat exports from the Black Sea region, which have climbed nine-fold in the past 20 years, could see further growth in the decade ahead, as the area has potential to boost yields as much as 2-1/2 times, a leading grains brokerage said on Wednesday.
US monthly ethanol exports rose to the highest levels in more than a year in January, boosted by near-record shipments to China, US Department of Agriculture data showed on Friday. Exports of US ethanol totaled 87.1 million gallons in January, well above
Brazil's February exports of sugar and ethanol reached their highest levels since late 2013, with corn exports remaining near recent record levels, as the weakened real stimulated shipments during what is traditionally an off-peak export season, specialis
Oil prices have staged a stunning 40 percent surge in three weeks, but charts show the rally could be near its end with crude prices approaching $40 a barrel, technical analysts said on Friday. Oil has risen as much as $11 a barrel since hitting 12-year l
Australia's agriculture production is set to rebound as the strongest El Nino in nearly 20 years that wilted crops and triggered bush fires subsides, the country's official commodity forecaster said on Tuesday. Production of staples such as wheat, cotton
Cotton futures rose more than 1 percent on Friday as a weaker dollar and gains across broader commodities markets helped offset speculator selling, spurring a small recovery in prices from 6-1/2-year lows earlier this week. The cotton market will likely s
Data provider Platts has cut its global sugar deficit forecasts for this and next season due to higher than expected production in top grower Brazil. It cut its 2015/16 (October-September) deficit forecast to 4.86 million tonnes, from a forecast it made l
China's crude oil imports may rise by more than 800,000 barrels per day this year, boosted by storage needs, robust gasoline demand and fuel exports, an executive from a Beijing-based consultancy said on Thursday. The jump in imports, if realised, could s
Canadian crop handler Paterson Grain is taking a more cautious approach to selling canola to Chinese buyers, after China said it would toughen its standard on canola shipments from Canada, the chief executive of parent Paterson GlobalFoods said. China's q
US farmers grabbed the highest grain prices in a fortnight to offload some of their massive stocks of corn and soyabeans early last week as they sought cash to pay for spring expenses like seed and farmland rent, trade sources said. By the end of the week
A global grain glut should make purchasing wheat cheap and easy for Egypt, the world's biggest importer, but traders say one bureaucrat has made it anything but. Saad Moussa, the head of the agricultural quarantine agency, refuses to let in a single grain
Switzerland's ADM International has secured a tender to supply 50,000 tonnes of wheat to Bangladesh after submitting the lowest offer of $211.45 a tonne, said an official with the state grains buyer on Monday. This was the third international wheat purcha
Export premiums for corn shipped from the US Gulf Coast were mostly steady on Thursday, underpinned by moderate demand from regular US customers but anchored by weak CIF barge basis values, traders said. Costs for loaded corn barges at the Gulf Coast were
China may suffer a shortage of canola meal, a protein-rich feed ingredient, after Beijing plans to toughen the import standards for the oilseed from major exporters, industry analysts said. China will allow no more than 1 percent of foreign material in ca
Brazilian trading house CGG expects the country's main ports to shift grain exports away from corn, which remained firm last month, to soyabeans starting in March as harvest of the crop picks up in the interior of the country. Brazil's Trade Ministry repo
Asian coffee market is facing tight supply in key robusta- producing nations as farmers in Vietnam slowed sales while Indonesia's stocks are depleted, traders said on Thursday. Vietnamese coffee farmers held back sales following a decline in global prices
Spot basis bids for corn and soyabeans were flat at most elevators and processors around the US Midwest on Thursday, grain dealers said. The basis was underpinned by slow country movement of both commodities. Weakness in the futures market has shut off sa
China's net gold imports via main conduit Hong Kong slumped to a 17 month-low in January, as heavy purchases made in the previous months and higher bullion prices curbed demand. The fall in imports from the top consumer comes at a bad time for global gold
Palm oil on the European vegetable oils market was firmer on Thursday, tracking Malaysian palm oil futures, which ended well off their lows on short-covering and bargain buying. "The recent weakness in palm oil futures was bound to turn around at some poi
Freight rates for capesize bulk carriers on key Asian routes are likely to remain flat as the number of vessels for hire outpaces cargo demand, ship brokers said. That came despite an increase in number of idled ships and ships sent for demolition, broker
Asia's naphtha crack recovered marginally from a three-week low to notch up a three-session high of $60.28 a tonne on Thursday but sellers remain under pressure from excess supplies. Lotte Chemical bought a naphtha cargo for second-half April delivery at
A lacklustre mood persisted on the cotton market on Saturday in the absence of leading buyers, dealers said. The official spot rate was unchanged at Rs 5,200, dealers said. In Sindh, seed cotton prices were at Rs 1500-2700, and in Punjab prices at Rs 1800
March vaida was lower on the forward cottonseeds oilcake market on Saturday in the process of trading, dealers said. The March vaida closed at Rs 2052.40 and it commenced with 40 paisas losses at Rs 2052.00 in the early hours, they said.
Export prices of Vietnamese rice picked up this week on loading demand and possible damage from dry weather in the Mekong Delta food basket, while Thai rice prices plunged on lack of orders, traders said on Wednesday. Harvesting of the winter-spring crop,
Chinese iron ore futures jumped more than 3 percent on Wednesday, stretching recent sharp gains to touch their highest since June as steel prices stayed firm on hopes of brisk seasonal demand. Some mills in Tangshan city, in China's top steel-producing He
US natural gas futures settled at their lowest since February 1999 on Thursday on forecasts that continue to call for much warmer-than-normal weather through the middle of March that will keep heating demand light. Front-month gas futures on the New York
A lethargic mood persisted on the wholesale grain market on Saturday in the process of trading, dealers said. On the cereals side, Masoor Dall Canada low type was up by Rs 100 to Rs 10600 best quality was higher by Rs 800 to Rs 10800, other commodities ma
Wheat futures on the Chicago Board of Trade climbed to a 1-1/2 week high on Thursday, rallying from contract lows this week as concerns about weather in the southern US Plains and the Delta ignited a round of short-covering, traders said. CBOT May wheat s
European wheat prices rebounded slightly on Thursday on technical factors before the expiry of the front-month contract and after a rise on US markets, but the mood remained bearish due to hefty supplies, traders said. May milling wheat, the benchmark on
Rising trend persisted on the currency market on Saturday in the process of trading, dealers said. The rupee extended overnight gains by picking up 10 paisas more in relation to the dollar for buying and selling at Rs 105.90 and Rs 106.10, they said. The
Rising trend persisted on the currency market on Saturday in the process of trading, dealers said. The rupee extended overnight gains by picking up 10 paisas more in relation to the dollar for buying and selling at Rs 105.90 and Rs 106.10, they said. The
The Joint Investigation Team (JIT) on Saturday gave a clean chit to disgruntled MQM leader Anees Qaimkhani in the Baldia factory fire case by excluding his name from the fresh investigation report presented in the court. According to a report submitted by
Driving fearlessly under skies free of warplanes and bombs, taxi drivers in Syria's divided second city Aleppo are counting on a fragile truce to revive their trade. One week into the ceasefire in parts of Syria, the country's iconic yellow taxis are slow
Predicting the oil prices is a hundred million dollar question; in literal sense, it's a game of billions of dollars. This is one of the most difficult tasks, given that there're too many variables and moving parts on the economic, and more so, on the pol
A recent report in this paper that the Prime Minister has approved the launch of "Green Pakistan Programme" comes as a pleasant surprise to all those concerned about the environmental degradation. The plan is to plant 100 million trees during the next fiv
According to a Business Recorder exclusive, the Ministry of Petroleum and Natural Resources has finalised a plan to collect 101 billion rupees from gas consumers for the construction of a South-North gas pipeline (Karachi to upcountry areas) for tra
According to a medical report submitted to an accountability court on Saturday by jail authorities, Dr Asim is ill and he is also not mentally well. Dr Asim's absence from the proceedings of an accountability court yesterday irked the judges who asked why
According to a medical report submitted to an accountability court on Saturday by jail authorities, Dr Asim is ill and he is also not mentally well. Dr Asim's absence from the proceedings of an accountability court yesterday irked the judges who asked why
The tiny Marshall Islands will Monday seek to convince the UN's highest court to take up a lawsuit against India, Pakistan and Britain which they accuse of failing to halt the nuclear arms race. Lawyers representing the small Pacific island nation will la
The tiny Marshall Islands will Monday seek to convince the UN's highest court to take up a lawsuit against India, Pakistan and Britain which they accuse of failing to halt the nuclear arms race. Lawyers representing the small Pacific island nation will la
A US government team that monitors religious freedom around the world has been denied visas to India, New Delhi's embassy in Washington confirmed Friday. The US Commission on International Religious Freedom (USCIRF) visits countries to report on violation
A US government team that monitors religious freedom around the world has been denied visas to India, New Delhi's embassy in Washington confirmed Friday. The US Commission on International Religious Freedom (USCIRF) visits countries to report on violation
Five more states including Louisiana and Kansas began voting Saturday in the hotly contested White House primary race, with Republican challengers like Marco Rubio desperate to cut into frontrunner Donald Trump's lead. The brash billionaire is ahead in th
Five more states including Louisiana and Kansas began voting Saturday in the hotly contested White House primary race, with Republican challengers like Marco Rubio desperate to cut into frontrunner Donald Trump's lead. The brash billionaire is ahead in th
Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) is going to launch ''Export Coaching Program'' with the assistance of Dutch authorities to escalate automotive parts exports up to $5 billion in next five years. Speaking to a s
Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) is going to launch 'Export Coaching Program' with the assistance of Dutch authorities to escalate automotive parts exports up to $5 billion in next five years. Speaking to a sel
Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) is going to launch 'Export Coaching Program' with the assistance of Dutch authorities to escalate automotive parts exports up to $5 billion in next five years. Speaking to a sel
President Mamnoon Hussain will arrive in the Indonesian capital Jakarta on Sunday to participate in the 5th Extraordinary Summit of Organisation of Islamic Co-operation (OIC) on Palestine and Al-Quds Al-Shareef, being held on March 6-7. The Summit under t
President Mamnoon Hussain will arrive in the Indonesian capital Jakarta on Sunday to participate in the 5th Extraordinary Summit of Organisation of Islamic Co-operation (OIC) on Palestine and Al-Quds Al-Shareef, being held on March 6-7. The Summit under t
Finance Minister Ishaq Dar Saturday said the government will support all efforts aimed at improvement in PIA services. Chairing a meeting to review performance of the national flag carrier here, Dar appreciated the efforts by the PIA administration for im
Finance Minister Ishaq Dar Saturday said the government will support all efforts aimed at improvement in PIA services. Chairing a meeting to review performance of the national flag carrier here, Dar appreciated the efforts by the PIA administration for im
Finance Minister Ishaq Dar Saturday said the government will support all efforts aimed at improvement in PIA services. Chairing a meeting to review performance of the national flag carrier here, Dar appreciated the efforts by the PIA administration for im
Punjab Chief Minister Shahbaz Sharif paid a visit to the site of Pakistan Kidney and Liver Transplant Institute and Research Centre on Saturday and presided over a high level meeting to review the matters relating to the project. He was given a briefing o
Syrian President Bashar al-Assad must leave office as soon as a transitional authority is set up, Saudi Foreign Minister Adel al-Jubeir said Saturday, insisting there is no way he can retain power. Talks between the regime and Syrian opposition, due to re
Syrian President Bashar al-Assad must leave office as soon as a transitional authority is set up, Saudi Foreign Minister Adel al-Jubeir said Saturday, insisting there is no way he can retain power. Talks between the regime and Syrian opposition, due to re
Finance Minister Ishaq Dar Saturday said the government is continuously trying to increase the efficiency and effectiveness of the revenue collection process and to make it taxpayer friendly, so that tax culture is promoted. He said that the Tax Reforms C
Finance Minister Ishaq Dar Saturday said the government is continuously trying to increase the efficiency and effectiveness of the revenue collection process and to make it taxpayer friendly, so that tax culture is promoted. He said that the Tax Reforms C
Finance Minister Ishaq Dar Saturday said the government is continuously trying to increase the efficiency and effectiveness of the revenue collection process and to make it taxpayer friendly, so that tax culture is promoted. He said that the Tax Reforms C
The Federal Board of Revenue (FBR) is working on a proposal to replace functional-based system with hybrid system to assess small corporate taxpayers, Association of Persons (AoPs) and others under the circle-based system and big units and corporate entit
The Federal Board of Revenue (FBR) is working on a proposal to replace functional-based system with hybrid system to assess small corporate taxpayers, Association of Persons (AoPs) and others under the circle-based system and big units and corporate entit
The Federal Board of Revenue (FBR) is working on a proposal to replace functional-based system with hybrid system to assess small corporate taxpayers, Association of Persons (AoPs) and others under the circle-based system and big units and corporate entit
Punjab Chief Minister Shahbaz Sharif said that he would quit politics if charges of corruption are proved. He said these remarks while addressing a gathering at the Aiwan-e-Iqbal. Referring to the past, Shahbaz said that financial corruption of Rs 900 mil
The Interior Minister Chaudhry Nisar Ali Khan on Saturday said that Mustafa Kamal, former senior leader of Muttahida Qaumi Movement (MQM), must approach the government if he has any substantial evidence regarding allegations he has levelled against MQM su
The Interior Minister Chaudhry Nisar Ali Khan on Saturday said that Mustafa Kamal, former senior leader of Muttahida Qaumi Movement (MQM), must approach the government if he has any substantial evidence regarding allegations he has levelled against MQM su
Prime Minister Nawaz Sharif is likely to announce a number of initiatives for bridging gap by empowering women in social, economic and political arena on International Women Day on March 8. Soon after promulgation of the Punjab Protection of Women against
Prime Minister Nawaz Sharif is likely to announce a number of initiatives for bridging gap by empowering women in social, economic and political arena on International Women Day on March 8. Soon after promulgation of the Punjab Protection of Women against
The Taliban on Saturday refused to hold direct peace talks with the Afghan government, dealing a blow to international efforts to revive long-stalled negotiations aimed at ending the deadly 14-year insurgency. The announcement, which comes as face-to-face
The Taliban on Saturday refused to hold direct peace talks with the Afghan government, dealing a blow to international efforts to revive long-stalled negotiations aimed at ending the deadly 14-year insurgency. The announcement, which comes as face-to-face
The Taliban on Saturday refused to hold direct peace talks with the Afghan government, dealing a blow to international efforts to revive long-stalled negotiations aimed at ending the deadly 14-year insurgency. The announcement, which comes as face-to-face
Hindu hard-line group 'Anti-Terrorist Front' has threatened to dig the pitch at the HPCA stadium if the Pakistan-India fixture is allowed to take place in Dharamshala. Virender Shandilya, national president of Anti-Terrorist Front of India, demanded that