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Print - 2016-03-18
Dancing Gayle like Viv Richards: West Indies coach

Dancing Gayle like Viv Richards: West Indies coach

When the West Indies won their sole World Twenty20 title in 2012 they famously celebrated by performing "Gangnam Style". If they triumph in India they'll be dancing to a different tune.
Published 18 Mar, 2016 12:00am
Balijee International Bridge from March 20

Balijee International Bridge from March 20

The four-day '14th Balijee International Bridge Championship' will get underway here at the Lahore Gymkhana from Sunday with participation of accomplished bridge players from all over Pakistan and abroad. This was stated by Aijaz Ahmed of Yummy Milk Produ
Published 18 Mar, 2016 12:00am
Dilshan powers Sri Lanka to win over Afghanistan

Dilshan powers Sri Lanka to win over Afghanistan

Opener Tillakaratne Dilshan said he was desperate to score some big runs after steering holders Sri Lanka to a six-wicket win over a spirited Afghanistan in the World Twenty20 on Thursday. The big-hitting Dilshan kept his nerves under pressure and carried
Published 18 Mar, 2016 12:00am
Eurozone consumer prices fall in February confirmed

Eurozone consumer prices fall in February confirmed

Eurozone consumer prices fell 0.2 percent year-on-year in February, the European Union's statistics office said on Thursday confirming its earlier estimate and economists' forecasts. On a monthly basis inflation in the 19 countries sharing the euro went u
Published 18 Mar, 2016 12:00am
'Solid' New Zealand economy shrugs off dairy woes

'Solid' New Zealand economy shrugs off dairy woes

New Zealand's economic growth exceeded expectations in the fourth quarter of 2015 despite a downturn in the country's multi-billion dollar dairy industry, official figures released Thursday show. Statistics New Zealand said the economy expanded 0.9 percen
Published 18 Mar, 2016 12:00am
India eases rules for banks holding utilities debt

India eases rules for banks holding utilities debt

The Reserve Bank of India on Thursday provided relief to banks taking on debt from their state electricity providers as part of the country's massive bailout of its utilities, according to three bankers who received a letter from the central bank.
Published 18 Mar, 2016 12:00am
French government improves civil servant wage increase offer

French government improves civil servant wage increase offer

The French government improved slightly a proposed pay increase for civil servants after a six-year wage freeze, a union source said after a first offer was rejected. The Socialist government offered to increase the reference index for civil servants wage
Published 18 Mar, 2016 12:00am
Russian industrial output up for first time in over year

Russian industrial output up for first time in over year

Russia's industrial output edged up in February for the first month in more than a year, adding to signs the economy could be starting to stabilise following an extended slump. Industrial output rose by 1 percent year on year in February, the sector's fir
Published 18 Mar, 2016 12:00am
Australia's jobless rate dips, even as employment stalls
Currency

Australia's jobless rate dips, even as employment stalls

Australian employment barely rose in February but the jobless rate still fell back to 5.8 percent as fewer people went looking for work, a mixed report that did little to clarify the outlook for either the labour market or interest rates.
Published 18 Mar, 2016 12:00am
BoE keeps rates steady, says sterling hit by EU vote

BoE keeps rates steady, says sterling hit by EU vote

Bank of England policymakers said sterling had been dealt a big hit by uncertainty in the run-up to the referendum on EU membership and that growth could slow, after voting unanimously to keep rates steady.
Published 18 Mar, 2016 12:00am
US job market tightening; manufacturing sector healing

US job market tightening; manufacturing sector healing

The number of Americans filing for unemployment benefits rose from a five-month low last week, but remained below a level associated with a strengthening labour market as the economy regains momentum after a slow fourth quarter.
Published 18 Mar, 2016 12:00am
Daily trading report of PMEX
Exchange

Daily trading report of PMEX

On Wednesday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 9,666 million. The number of lots traded was 41.93 million. PMEX Commodity Index closed at 2,696. Major business was contributed by gold amounting to PKR 9,030 million followed by
Published 18 Mar, 2016 12:00am
German 2016 wheat harvest seen down 1.7 percent

German 2016 wheat harvest seen down 1.7 percent

Germany's 2016 wheat crop will fall 1.7 percent on the year to 26.10 million tonnes but will still reach a good average, the country's association of farm co-operatives said on Tuesday. The association forecast the country's 2016 winter rapeseed crop will
Published 18 Mar, 2016 12:00am
US Plains HRW wheat bids flat

US Plains HRW wheat bids flat

Basis bids for hard red winter wheat were flat in the southern US Plains on Tuesday amid slow farmer selling and light demand from millers and exporters, dealers said.
Published 18 Mar, 2016 12:00am
Canadian canola futures set three-week high

Canadian canola futures set three-week high

ICE Canadian canola futures climbed to a fresh three-week high on Tuesday, supported by a weaker Canadian dollar and export demand. Lack of farmers selling to exporters and processors seen supporting the market, a trader said.
Published 18 Mar, 2016 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 126,366 tonnes of cargo comprising 102,025 tonnes of import cargo and 24,341 tonnes of export cargo including 5,026 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.
Published 18 Mar, 2016 12:00am
Oil cake market rates
Cotton

Oil cake market rates

The March vaida was lower on the forward cottonseeds oilcake market on Thursday in the process of trading, dealers said. The March vaida closed at Rs 2051.60 and it commenced with a decline of Rs 1.10 at Rs 2050.50 in the early hours, they said.
Published 18 Mar, 2016 12:00am
Ginners refrain from making new deals for better profit
Cotton

Ginners refrain from making new deals for better profit

Some leading ginners refrained from making new deals on expectations of better profits, dealers said on the cotton market on Thursday. The official spot rate was unchanged at Rs 5,200, dealers said. In Sindh, seed cotton prices were at Rs 2000-2200, and i
Published 18 Mar, 2016 12:00am
Low activity seen in a dull cotton market
Exchange

Low activity seen in a dull cotton market

Thursday saw a low volume of trading activity in the ready cotton market. In fact, the market was reported to be subdued with rates on the declining side. Larger mills are mostly covered as earlier they had opted to purchase imported cottons to meet their
Published 18 Mar, 2016 12:00am
Low activity seen in a dull cotton market
Exchange

Low activity seen in a dull cotton market

Thursday saw a low volume of trading activity in the ready cotton market. In fact, the market was reported to be subdued with rates on the declining side. Larger mills are mostly covered as earlier they had opted to purchase imported cottons to meet their
Published 18 Mar, 2016 12:00am
US Midwest corn and soya bids steady

US Midwest corn and soya bids steady

Spot basis bids for corn and soyabeans held mostly steady around the US Midwest on Tuesday amid limited prompt demand from end users following farmer sales in recent days, dealers said. Some grain merchants who were pushing for supplies late last week wer
Published 18 Mar, 2016 12:00am
Prices of Moong down sharply on grain market
Cotton

Prices of Moong down sharply on grain market

Moong prices were sharply lower on the wholesale grain market on Thursday in the process of trading, dealers said. On the cereals side, Moong Afghan lost Rs 1875 to Rs 10125, other commodities held the overnight levels, they said.
Published 18 Mar, 2016 12:00am
Cuba frees four dissidents as 'gift' to Obama: opposition

Cuba frees four dissidents as 'gift' to Obama: opposition

Cuba put four dissidents on a flight bound for the United States, an opposition member said Wednesday, calling their release "a gift" to US President Barack Obama. The development comes days before Obama makes a historic visit to Cuba, a milestone in the
Published 18 Mar, 2016 12:00am
Europe must share data on warzone aviation risks

Europe must share data on warzone aviation risks

European countries must do a better job sharing information on the risk to civil aviation over conflict zones, said a report commissioned after the downing of MH17 over Ukraine and published Thursday. The European Aviation Safety Agency (EASA) said in a s
Published 18 Mar, 2016 12:00am
Missing Japanese journalist video emerges

Missing Japanese journalist video emerges

Footage has emerged of a Japanese journalist who went missing in Syria apparently asking for Tokyo's help in securing his release. The Japanese government said Thursday it was studying the video of Jumpei Yasuda, who has not been heard from since the midd
Published 18 Mar, 2016 12:00am
Islamic State carrying out 'genocide': US

Islamic State carrying out 'genocide': US

The United States declared Thursday that the Islamic State group's slaughter of Christians, Yazidis and Shiites in Iraq and Syria amounts to a genocide and vowed to halt it. Secretary of State John Kerry's "moral statement" does not place the United State
Published 18 Mar, 2016 12:00am
French youths scuffle with police in labour reform protest

French youths scuffle with police in labour reform protest

French youths set off smoke bombs and scuffled with police on Thursday as they protested against proposed labour reforms, despite government climb-downs on the contentious bill. The measures are aimed at freeing up the labour market and reining in France'
Published 18 Mar, 2016 12:00am
Saudi-led strikes on Yemen market killed 119: UN

Saudi-led strikes on Yemen market killed 119: UN

Saudi-led air strikes on a market killed 119 people this week in northern Yemen's rebel-held Hajja province, the United Nations said Thursday, nearly three times the previously reported death toll. Among those killed in Mastaba district on Tuesday were 22
Published 18 Mar, 2016 12:00am
Morocco issues new threats in row with UN over W Sahara

Morocco issues new threats in row with UN over W Sahara

Morocco threatened Thursday to take further measures in retaliation for UN Secretary-General Ban Ki-moon's description of Moroccan rule over Western Sahara as an "occupation". Foreign Minister Salaheddine Mezouar told reporters that "decisions will be ann
Published 18 Mar, 2016 12:00am
Carter calls Iran detention of US sailors 'outrageous'

Carter calls Iran detention of US sailors 'outrageous'

US Defence Secretary Ashton Carter on Thursday called Iran's brief detention of American sailors in the Gulf earlier this year an "outrageous" action inconsistent with international law.
Published 18 Mar, 2016 12:00am
Global temps soar in February, setting new heat record

Global temps soar in February, setting new heat record

Temperatures across the planet soared again last month, setting a new heat record for the warmest February since modern records began, the National Oceanic and Atmospheric Administration said Thursday.
Published 18 Mar, 2016 12:00am
Egypt index surges for fourth day, oil boosts Gulf markets
Exchange

Egypt index surges for fourth day, oil boosts Gulf markets

Egypt's stock market rose sharply for a fourth straight day on Thursday as investors welcomed this week's currency devaluation, while higher oil prices boosted Gulf markets. The Cairo index jumped 3.6 percent to 7,486 points in the second heaviest trading
Published 18 Mar, 2016 12:00am
Australian shares up

Australian shares up

Australian shares rose nearly 1 percent on Thursday, after the US Federal Reserve signalled it would raise rates more slowly than expected this year, which helped drive up gold, metals and oil prices.
Published 18 Mar, 2016 12:00am
Wall Street closes at 2016 high as Fed signals fewer rate hikes
Exchange

Wall Street closes at 2016 high as Fed signals fewer rate hikes

The S&P 500 closed at its highest level of the year on Wednesday after the US Federal Reserve left interest rates untouched and signalled fewer rate hikes in coming months. The Fed indicated moderate US economic growth and "strong job gains" would allow i
Published 18 Mar, 2016 12:00am
Hong Kong shares soar

Hong Kong shares soar

Hong Kong shares finished higher on Thursday after the Federal Reserve reduced the number of expected interest rate hikes this year, buoying global equities. The Hang Seng index rose 1.2 percent to 20,503.81 points, while the China Enterprises Index gaine
Published 18 Mar, 2016 12:00am
Treasury yields fall across the board

Treasury yields fall across the board

US Treasury yields fell across the board on Wednesday after the Federal Reserve, as expected, held interest rates steady while revising its outlook for interest rate increases to just two by the end of the year. At the December meeting of the Federal Open
Published 18 Mar, 2016 12:00am
Treasury yields fall across the board

Treasury yields fall across the board

US Treasury yields fell across the board on Wednesday after the Federal Reserve, as expected, held interest rates steady while revising its outlook for interest rate increases to just two by the end of the year. At the December meeting of the Federal Open
Published 18 Mar, 2016 12:00am
Tokyo shares fall on strong yen
Exchange

Tokyo shares fall on strong yen

Tokyo stocked closed lower for a third successive day on late selling Thursday as the yen rallied after the Federal Reserve lowered its outlook for further US interest rate hikes this year. Tokyo's loss followed comments by Fed boss Janet Yellen Wednesday
Published 18 Mar, 2016 12:00am
India's NSE index edges higher

India's NSE index edges higher

India's NSE index rose 0.18 percent on Thursday tracking a rally in Asian markets after the US Federal Reserve signalled fewer rate hikes this year, but profit-taking capped broader advances. The broader NSE index rose 0.18 percent to end at 7,512.55 poin
Published 18 Mar, 2016 12:00am
China stocks surge

China stocks surge

China stocks rose more than 1 percent on Thursday as bargain hunting in technology stocks offset weakness in financial shares. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 1.1 percent to 3,124.20 points, while the Shangha
Published 18 Mar, 2016 12:00am
Weaker auto stocks weigh on European equities, miners up

Weaker auto stocks weigh on European equities, miners up

European equities fell on Thursday, dragged down by exporters as the euro strengthened against the dollar after the US Federal Reserve flagged fewer rate rises this year than previously expected. Mining companies, however, were among the beneficiaries as
Published 18 Mar, 2016 12:00am
Sri Lankan shares at two-week high

Sri Lankan shares at two-week high

Sri Lankan shares rose for a second straight session on Thursday and closed at their highest level in two weeks as local investors bought beaten-down stocks. The benchmark share index ended 0.78 percent firmer at 6,068.17, its highest close since March 2.
Published 18 Mar, 2016 12:00am
SE Asian stocks rise
Exchange

SE Asian stocks rise

Southeast Asian stock markets rose on Thursday as Asia and regional currencies climbed after the US Federal Reserve reduced the number of expected interest rate hikes this year, lending support to broader risk sentiment.
Published 18 Mar, 2016 12:00am
FTSE outperforms Europe as weaker dollar lifts commodities companies

FTSE outperforms Europe as weaker dollar lifts commodities companies

UK shares edged higher on Thursday, outperforming their European counterparts, as miners were boosted by a weaker dollar after the US Federal Reserve's dovish decision to hold interest rates steady. The Fed also indicated on Wednesday that moderate US eco
Published 18 Mar, 2016 12:00am
Budget proposals: KTBA for bringing down GST rate to single digit

Budget proposals: KTBA for bringing down GST rate to single digit

Karachi Tax Bar Association (KTBA) has proposed to the Federal Board of Revenue (FBR) to bring the rate of sales tax down to single digit. The KTBA in its budget proposals sent to the chairman FBR Nisar Muhammad Khan termed the current rate of sales tax @
Published 18 Mar, 2016 12:00am
Budget proposals: KTBA for bringing down GST rate to single digit

Budget proposals: KTBA for bringing down GST rate to single digit

Karachi Tax Bar Association (KTBA) has proposed to the Federal Board of Revenue (FBR) to bring the rate of sales tax down to single digit. The KTBA in its budget proposals sent to the chairman FBR Nisar Muhammad Khan termed the current rate of sales tax @
Published 18 Mar, 2016 12:00am
Rehan Jafri elected KTBA President

Rehan Jafri elected KTBA President

Syed Rehan Hasan Jafri has been elected as President Karachi Tax Bar Association (KTBA) for the term of 2016-2017. In a statement issued by KTBA here on Thursday, in the 59th Annual General Meeting of the KTBA held on March 17, 2016, Jafri has been electe
Published 18 Mar, 2016 12:00am
REAP delegation leaves for China

REAP delegation leaves for China

A 19-member delegation of Rice Exporters Association of Pakistan (REAP) led by Noman Ahmed Sheikh, Senior Vice Chairman, has left for China. The delegation will visit three leading cities including Beijing, besides meeting with Chinese officials for promo
Published 18 Mar, 2016 12:00am
PBIF chief urges govt to take notice of falling exports

PBIF chief urges govt to take notice of falling exports

President of Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has urged the government to take notice of the falling exports which will leave country on the mercy of remittances and the IMF.
Published 18 Mar, 2016 12:00am
Liquid foreign reserves surged by $196 million
Exchange

Liquid foreign reserves surged by $196 million

The country's total liquid foreign reserves increased by $196 million during the last week. According to the State Bank of Pakistan (SBP) weekly foreign exchange report issued on Thursday, Pakistan's total liquid foreign reserves reached $20.718 billion l
Published 18 Mar, 2016 12:00am
ICAP organises seminar on 'New Auditor Reporting Model'

ICAP organises seminar on 'New Auditor Reporting Model'

The Institute of Chartered Accountants of Pakistan (ICAP) organised an interactive seminar on 'New Auditor Reporting Model - A Fundamental Shift', here at ICAP House on Thursday. To enhance the value of auditors' report for stakeholders and users, Interna
Published 18 Mar, 2016 12:00am
250,000 infants born with foot disabilities every year world-wide

250,000 infants born with foot disabilities every year world-wide

Approximately 2,50,000 infants born with foot disabilities each year world-wide out of which 80 percent such cases are reported from developing countries and if these new-born children remain untreated, it cause permanent disabilities, humiliation as affe
Published 18 Mar, 2016 12:00am
Nepra urged to link KE petition of FAC to performance

Nepra urged to link KE petition of FAC to performance

National Electric Power Regulatory Authority (Nepra) on Thursday organised public hearing on K-Electric's petition concerning monthly and quarterly fuel adjustment charges (FAC) at a local hotel. The power utility has requested the regulatory body to allo
Published 18 Mar, 2016 12:00am
SSGC disconnects illegal gas connection

SSGC disconnects illegal gas connection

The joint team of Surveillance and Monitoring, Distribution and Maintenance, CRD's task force and Security Department of Sui Southern Gas conducted a raid at a famous restaurant located in KDA Scheme No 1, near Shahrah-e-Faisal, Karachi and illegal gas co
Published 18 Mar, 2016 12:00am
Governor inaugurates work on LEW's second track

Governor inaugurates work on LEW's second track

Governor Sindh Dr Ishrat ul Ebad Khan has said that restoration of construction work on second track of Lyari Express Way (LEW), which was pending since 2008, is a welcome news for Karachiites which would ensure much improved transport facilities to commu
Published 18 Mar, 2016 12:00am
Canada wholesale trade unchanged in January

Canada wholesale trade unchanged in January

The value of Canadian wholesale trade remained unchanged in January from December as lower auto sales cancelled out gains in other sectors, Statistics Canada said on Thursday. Analysts in a Reuters poll had predicted a 0.2 percent increase in wholesale sa
Published 18 Mar, 2016 12:00am
Singapore February exports climb but trade outlook still weak

Singapore February exports climb but trade outlook still weak

Singapore's exports unexpectedly rose in February from a year ago, helped by a surge in shipments from the statistically volatile pharmaceuticals sector, but the broader trade outlook remains clouded by poor demand from Asian countries.
Published 18 Mar, 2016 12:00am
South Korea's unemployment at six-year high

South Korea's unemployment at six-year high

South Korea's unemployment rate in February spiked to its highest in six years due to a holiday disrupting the job market, government data showed on Wednesday, adding to concerns over the health of the economy.
Published 18 Mar, 2016 12:00am
US CG calls on KP PA Speaker

US CG calls on KP PA Speaker

The Consul General of United States in Peshawar William Martin called on speaker, Khyber Pakhtunkhwa Assembly, Asad Qaiser here on Thursday. MS Katreen Hoffoman, Provincial Minister Anisa Zeb, Members Provincial Assembly Mehmood Khan Bethni and Sardar Aur
Published 18 Mar, 2016 12:00am
Swat expressway to pave way for promotion of tourism, industry: KP CM

Swat expressway to pave way for promotion of tourism, industry: KP CM

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has said that construction of Swat Expressway will pave way for exploitation of tourism opportunities and promotion of industries in the area while planning for establishment of economic zones at Swat and C
Published 18 Mar, 2016 12:00am
Government urged to hold single-country exhibition in Iran

Government urged to hold single-country exhibition in Iran

United Business Group's (UBG) general secretary Zubair F. Tufail has urged Federal Minister for Commerce Khurram Dastgir to take appropriate measures for organising Pakistan's single-country exhibition in Iran for the expansion of trade between the two co
Published 18 Mar, 2016 12:00am
FFC earns Rs 16.766 billion profit

FFC earns Rs 16.766 billion profit

Fauji Fertiliser Company has achieved net profit after tax of Rs16.766 billion, with EPS of Rs13.18 and paying out dividend of Rs11.86 per share. The FFC has created two new benchmarks in terms of highest-ever sales revenue of Rs86.321 billion (including
Published 18 Mar, 2016 12:00am
JIT formed to investigate Peshawar incident

JIT formed to investigate Peshawar incident

A joint investigation team (JIT) has been constituted to probe the powerful bomb explosion in a bus carrying government employees on Wednesday. The committee comprises KP Police and Counter Terrorism Department (CTD) personnel. The team has approached Mal
Published 18 Mar, 2016 12:00am
Fatemi welcomes Tajik parliamentary delegation

Fatemi welcomes Tajik parliamentary delegation

The Special Assistant to the Prime Minister on Foreign Affairs (SAPM), Syed Tariq Fatemi, received the Chairman of the Lower House of the Parliament of Republic of Tajikistan (Majlisi Namoyndagon), H.E Shukurjon Zuhurov, along with a Tajik Parliamentary d
Published 18 Mar, 2016 12:00am
Bureaucracy 'shelves' South Punjab Empowerment Plan

Bureaucracy 'shelves' South Punjab Empowerment Plan

Provincial bureaucracy shelved the South Punjab Empowerment Plan with the observations that it is not applicable/feasible due to some administrative and financial constraints. The Punjab Chief Minister Mian Shahbaz Sharif had constituted a sub-committee h
Published 18 Mar, 2016 12:00am
ISSI holds talk on 'Pakistan-Russia relations'
Exchange

ISSI holds talk on 'Pakistan-Russia relations'

The Institute of Strategic Islamabad (ISSI) organised a public talk on Thursday on "Pakistan-Russian Relations" under its Ambassador's Platform series. The distinguished speaker on the occasion was Alexey Yurievich Dedov, Ambassador of the Russian Federat
Published 18 Mar, 2016 12:00am
US Consulate concert showcases support for arts, culture

US Consulate concert showcases support for arts, culture

US Consul General Brian Heath welcomed 350 music lovers to a concert featuring Sangat - an ensemble of musicians from the University of Texas (UT) Austin and National Academy of Performing Arts (NAPA).
Published 18 Mar, 2016 12:00am
Soneri Bank, Temenos sign agreement

Soneri Bank, Temenos sign agreement

Soneri Bank has taken another leap to enhance the technology platform in line with its focus to improve customer experience and wide range of product offering by signing agreement with Temenos for T24 core banking system.
Published 18 Mar, 2016 12:00am
Mohafiz mobile application launched

Mohafiz mobile application launched

Mohafiz is a life saving application, designed in the wake of the APS attack and developed over the course of one year, allowing a person to broadcast life-threatening situations to the nominated In Case of Emergency (ICE) contacts through SMS.
Published 18 Mar, 2016 12:00am
Mobicash to introduce mobile account app

Mobicash to introduce mobile account app

In line with the continuous digitisation of its services to meet demands of smartphone users, Mobilink is proud to announce an Android-based Mobicash application for the facilitation of its mobile account users.
Published 18 Mar, 2016 12:00am
Pakistan attractive place for investment: UK diplomat
Exchange

Pakistan attractive place for investment: UK diplomat

"Pakistan is an emerging international market, it has a big economic potential and is the attractive place for investment," British Deputy High Commissioner in Karachi, John Tucknott said this while talking to media, here.
Published 18 Mar, 2016 12:00am
Karachi medical centre raided: over Rs 548 million tax evasion detected

Karachi medical centre raided: over Rs 548 million tax evasion detected

Directorate General of Intelligence and Investigation Inland Revenue (IR) Karachi as part of a campaign to bracket high net-worth individuals into tax net and plug revenue leakage raided a modern medical centre of Karachi and impounded partial accounts an
Published 18 Mar, 2016 12:00am
TDAP strongly reacts to Mandviwalla's remarks

TDAP strongly reacts to Mandviwalla's remarks

This is apropos the remarks of Saleem Mandviwalla, Chairman of the Senate Committee on Finance, that the Trade Development Authority of Pakistan "should be done away with". It is ironical that the honourable Senator has made this suggestion today and not
Published 18 Mar, 2016 12:00am
Dollar nurses losses in Asia

Dollar nurses losses in Asia

The dollar nursed losses in Asian trading on Thursday after declining sharply following the US Federal Reserve's decision to halve its outlook for interest rate increases to two from four by the end of this year. The greenback did manage to claw back some
Published 18 Mar, 2016 12:00am
Dollar falls further in Europe after Fed meeting
Currency

Dollar falls further in Europe after Fed meeting

The dollar sank broadly on Thursday, falling almost another 2 percent to its weakest against the yen since late 2014 after a Federal Reserve meeting that left markets convinced US interest rates would not rise soon.
Published 18 Mar, 2016 12:00am
Dollar plummets in New York after Fed revises rate hike outlook
Exchange

Dollar plummets in New York after Fed revises rate hike outlook

The dollar fell sharply on Wednesday after the Federal Reserve kept interest rates unchanged, but reduced its expectations for interest rate hikes in 2016 to two from four. In a statement many investors regarded as more accommodating for looser policy tha
Published 18 Mar, 2016 12:00am
Sri Lankan rupee forwards ease
Currency

Sri Lankan rupee forwards ease

Sri Lankan rupee forwards ended weaker on Thursday on importer dollar demand amid growing uncertainty after the announcement of new tax hikes, dealers said. One-week rupee forwards, which act as a proxy for the spot currency, ended at 145.55/65 per dollar
Published 18 Mar, 2016 12:00am
Asian currencies jump
Currency

Asian currencies jump

The Malaysian rinngit, Indonesian rupiah and South Korean won all rose more than 1 percent versus the dollar on Thursday, after the US Federal Reserve halved its outlook for interest rate hikes to two by year-end. Many Asian currencies hit multi-month hig
Published 18 Mar, 2016 12:00am
Aussie, kiwi extend gains
Currency

Aussie, kiwi extend gains

The Australian dollar scaled an eight-month peak and its New Zealand counterpart rose sharply on Thursday in the wake of solid domestic data and dovish comments from the US Federal Reserve. The New Zealand dollar was a clear outperformer with a leap of on
Published 18 Mar, 2016 12:00am
Sterling rises to four-week high

Sterling rises to four-week high

Sterling jumped past $1.45 on Thursday and was on track for its best daily gain in a year, after the Bank of England kept interest rates unchanged as expected and said rates were more likely to rise than not over the next three years.
Published 18 Mar, 2016 12:00am
Yuan strengthens
Currency

Yuan strengthens

China's yuan strengthened against the dollar on Thursday after the central bank fixed a stronger midpoint in line with the greenback's global slump after the US Federal Reserve revised its outlook for future interest rate hikes.
Published 18 Mar, 2016 12:00am
Italy adopts food waste law

Italy adopts food waste law

Italian deputies on Thursday approved a new law aimed at curbing food waste which will make it easier for supermarkets, wholesalers and farmers to pass unsold products on to charities. The draft legislation, which is expected to be definitively approved s
Published 18 Mar, 2016 12:00am
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