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Jan 31, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-03-20
Modest trade seen on grain market

Modest trade seen on grain market

A modest trading was witnessed on the wholesale grain market on Saturday in the process of trade, dealers said. On the seeds side, castor seeds Sindh drifted lower by Rs 50 to Rs 2250-2300 and castor seeds Lakhra lost Rs 100 to Rs 2600, other items did no
Published 20 Mar, 2016 12:00am
Oil, a big driver for major currencies
Exchange

Oil, a big driver for major currencies

The price of crude oil has become a major driver of the foreign exchange market, as it crushes inflation expectations and highlights the diminishing impact of ultra-loose central bank policies. Oil has long been a big factor affecting the currencies of ma
Published 20 Mar, 2016 12:00am
Mobius says Malaysia currency is undervalued by 28 percent
Currency

Mobius says Malaysia currency is undervalued by 28 percent

Franklin Templeton's Mark Mobius said on Tuesday that Malaysia's currency is undervalued by 28 percent, which makes the country an attractive prospect for investors looking at Southeast Asian economies. The ringgit was Asia's worst performing currency las
Published 20 Mar, 2016 12:00am
S&P 500 turns positive for 2016 as recession fears fade
Exchange

S&P 500 turns positive for 2016 as recession fears fade

The S&P 500 closed positive for the year on Friday for the first time in 2016 as the US Federal Reserve's dovish tone and a strengthening economic outlook compelled investors to take on more risk. In part, the rally was a continued reaction to the Fed's m
Published 20 Mar, 2016 12:00am
US funds cut recommended equity allocations

US funds cut recommended equity allocations

US-based fund managers cut their equity holdings in February and boosted cash to a nine-month high on persistent worries about a global economic slowdown, a Reuters poll found on Monday. Sharp market fluctuations have left many investors on the defensive.
Published 20 Mar, 2016 12:00am
US funds cut recommended equity allocations

US funds cut recommended equity allocations

US-based fund managers cut their equity holdings in February and boosted cash to a nine-month high on persistent worries about a global economic slowdown, a Reuters poll found on Monday. Sharp market fluctuations have left many investors on the defensive.
Published 20 Mar, 2016 12:00am
Dividend alert: Investors have bid up income stocks to risky levels

Dividend alert: Investors have bid up income stocks to risky levels

Spooked by the early 2016 stock market selloff and sick of low interest rates, income investors have been bidding up dividend stocks at a feverish pace - so much so that these shares now are priced at levels high enough to worry some money managers. An in
Published 20 Mar, 2016 12:00am
Treasuries climb on Fed rate hike outlook

Treasuries climb on Fed rate hike outlook

US Treasuries prices rose for a fifth straight session on Friday, in line with gains in European sovereign markets, as investors continued to snap up US government bonds with the expectation that the Federal Reserve will undertake fewer rate increases thi
Published 20 Mar, 2016 12:00am
Treasuries climb on Fed rate hike outlook

Treasuries climb on Fed rate hike outlook

US Treasuries prices rose for a fifth straight session on Friday, in line with gains in European sovereign markets, as investors continued to snap up US government bonds with the expectation that the Federal Reserve will undertake fewer rate increases thi
Published 20 Mar, 2016 12:00am
Bank IPOs expose dark arts of Chinese finance

Bank IPOs expose dark arts of Chinese finance

Hong Kong's stock market is shining a new light on the dark arts of Chinese finance. The country's mid-sized lenders have become skilled at repackaging loans to look like lower-risk investments. Two impending share offerings from state-backed banks unders
Published 20 Mar, 2016 12:00am
TSX falls as resource stocks pull back
Exchange

TSX falls as resource stocks pull back

Canada's main stock index fell on Friday, erasing the week's gains with a pullback in energy and banking stocks as well as slips in telecom and consumer staples names offsetting modest gains for industrial and materials stocks. The index lost 0.2 percent
Published 20 Mar, 2016 12:00am
Santander puts peripheral sub debt back on menu

Santander puts peripheral sub debt back on menu

Santander has received more than 2.8bn of demand for the first subordinated bond from a Southern European bank since January as the post-ECB after party continues in earnest, flinging open the door to deals in riskier formats. The price of bank capital p
Published 20 Mar, 2016 12:00am
Santander puts peripheral sub debt back on menu

Santander puts peripheral sub debt back on menu

Santander has received more than 2.8bn of demand for the first subordinated bond from a Southern European bank since January as the post-ECB after party continues in earnest, flinging open the door to deals in riskier formats. The price of bank capital p
Published 20 Mar, 2016 12:00am
Investors slow to unearth hidden emerging equity gems
Exchange

Investors slow to unearth hidden emerging equity gems

Indian airlines, Brazilian chemical producers and Turkish car makers and are just some of the emerging market firms thriving thanks to low commodity prices, and yet investors are often slow to catch on due to the asset class's dismal overall performance.
Published 20 Mar, 2016 12:00am
Investors slow to unearth hidden emerging equity gems
Exchange

Investors slow to unearth hidden emerging equity gems

Indian airlines, Brazilian chemical producers and Turkish car makers and are just some of the emerging market firms thriving thanks to low commodity prices, and yet investors are often slow to catch on due to the asset class's dismal overall performance.
Published 20 Mar, 2016 12:00am
Senvion cancels Frankfurt IPO plan
Exchange

Senvion cancels Frankfurt IPO plan

German wind turbine maker Senvion on Wednesday cancelled its share sale on the Frankfurt stock exchange planned for March 18 after failing to attract sufficient investor demand. "Against the background of recent market volatility, Senvion and its sharehol
Published 20 Mar, 2016 12:00am
Senvion cancels Frankfurt IPO plan
Exchange

Senvion cancels Frankfurt IPO plan

German wind turbine maker Senvion on Wednesday cancelled its share sale on the Frankfurt stock exchange planned for March 18 after failing to attract sufficient investor demand. "Against the background of recent market volatility, Senvion and its sharehol
Published 20 Mar, 2016 12:00am
IMF says Panama needs to stick to stronger deficit controls

IMF says Panama needs to stick to stronger deficit controls

Panama should follow more effective deficit controls, an International Monetary Fund (IMF) commission said late on Friday, citing waivers and extensions that could threaten to undo recent gains in reducing the country's debt. Valerie Cerra, head of the IM
Published 20 Mar, 2016 12:00am
IMF says Panama needs to stick to stronger deficit controls

IMF says Panama needs to stick to stronger deficit controls

Panama should follow more effective deficit controls, an International Monetary Fund (IMF) commission said late on Friday, citing waivers and extensions that could threaten to undo recent gains in reducing the country's debt. Valerie Cerra, head of the IM
Published 20 Mar, 2016 12:00am
BlackRock's Larry Fink paid nearly $26 million in 2015
Exchange

BlackRock's Larry Fink paid nearly $26 million in 2015

BlackRock Inc, the world's largest asset manager, raised total compensation for Chairman and Chief Executive Larry Fink by about 8 percent in 2015, according to a filing on Friday. Fink was awarded $25.8 million in compensation in 2015, compared with $23.
Published 20 Mar, 2016 12:00am
BlackRock's Larry Fink paid nearly $26 million in 2015
Exchange

BlackRock's Larry Fink paid nearly $26 million in 2015

BlackRock Inc, the world's largest asset manager, raised total compensation for Chairman and Chief Executive Larry Fink by about 8 percent in 2015, according to a filing on Friday. Fink was awarded $25.8 million in compensation in 2015, compared with $23.
Published 20 Mar, 2016 12:00am
Telecom Italia CEO Patuano quits as Vivendi tightens grip
Currency

Telecom Italia CEO Patuano quits as Vivendi tightens grip

Telecom Italia's chief executive Marco Patuano has handed in his resignation following weeks of speculation over his future, three sources close to the matter said on Saturday. His decision comes as Telecom Italia's top shareholder Vivendi exerts a growin
Published 20 Mar, 2016 12:00am
Norway central bank cuts key rate to record low

Norway central bank cuts key rate to record low

Norway's central bank on Thursday said it had cut its key interest rate by a quarter point to a record low 0.5 percent as growth and inflation were expected to shrink amid plunging oil prices and a weaker global economy. Central bank governor Oystein Olse
Published 20 Mar, 2016 12:00am
KKR to buy Airbus defence electronics unit for $1.2 billion

KKR to buy Airbus defence electronics unit for $1.2 billion

Private equity firm KKR has agreed to buy Airbus Group's defence electronics business for 1.1 billion euros ($1.2 billion), the European aerospace group said on Friday. The transaction is expected to close in the first quarter of next year, Airbus said in
Published 20 Mar, 2016 12:00am
Southern Africa drought needs swift response as millions hungry

Southern Africa drought needs swift response as millions hungry

Southern African governments and donors must respond swiftly to the regional drought emergency triggered by El Nino, aid agencies said on Thursday, with millions in the region facing hunger. Responding to a statement on Wednesday by the Southern African D
Published 20 Mar, 2016 12:00am
Tanzania current account deficit narrows in 2015 on cheaper oil
Exchange

Tanzania current account deficit narrows in 2015 on cheaper oil

Tanzania's current account deficit narrowed 38 percent to $3.13 billion last year despite a decline in gold exports, helped by lower global oil prices, the central bank said. The value of oil imports in East Africa's second-biggest economy slumped 28 perc
Published 20 Mar, 2016 12:00am
Executives pay top dollar for audience with China's leaders
Kerb

Executives pay top dollar for audience with China's leaders

The China Development Forum this weekend may be the most important economic summit you have never heard of. The CEOs of companies ranging from Facebook to Rio Tinto gather in Beijing with top academics and politicians for a pay-to-play event promising aud
Published 20 Mar, 2016 12:00am
Amazon takes nearly 10 percent stake in Air Transport Services Group

Amazon takes nearly 10 percent stake in Air Transport Services Group

Amazon.com Inc has taken a 9.99 percent stake in Air Transport Services Group Inc, the company from which it will be leasing freighter aircraft. Last week, Amazon said it had signed a deal with ATSG to lease 20 Boeing 767 widebody freighter aircraft to ha
Published 20 Mar, 2016 12:00am
Russian minister sees rouble staying weaker than 60 per dollar
Currency

Russian minister sees rouble staying weaker than 60 per dollar

The rouble will probably be stronger than previously expected but is likely to remain weaker than 60 roubles per dollar, Russia's Economy Minister Alexei Ulyukayev said on Saturday. "The rouble will probably be stronger than we supposed earlier," Ulyukaye
Published 20 Mar, 2016 12:00am
Inpex, Shell postpone Indonesian gas project by at least 2 years

Inpex, Shell postpone Indonesian gas project by at least 2 years

Japanese oil and gas firm Inpex Corp will delay sanctioning a $15 billion liquefied natural gas (LNG) project in Indonesia until 2020, the Indonesian energy regulator said late on Wednesday, "at least two years" behind an earlier schedule.
Published 20 Mar, 2016 12:00am
Spanish nuts grower Borges postpones share issue
Exchange

Spanish nuts grower Borges postpones share issue

Spanish nuts producer Borges said it was postponing a 23.5 million-euro ($26.5 million) share capital hike and putting plans to move to Spain's main stock market from a smaller exchange on hold, citing difficult market conditions. "The situation in the ma
Published 20 Mar, 2016 12:00am
Bangladesh seeks FBI's help in investigating central bank heist

Bangladesh seeks FBI's help in investigating central bank heist

Bangladesh has formally sought assistance from the US Federal Bureau of Investigation to track down the cyber crooks who stole $81 million from its central bank's US account, the interior minister said on Saturday. Unknown hackers breached the computer sy
Published 20 Mar, 2016 12:00am
Monsanto shows interest in Bayer's crop science unit
Cotton

Monsanto shows interest in Bayer's crop science unit

Monsanto Co, the world's largest seed producer, has approached Bayer AG to express interest in its crop science unit, including a potential acquisition worth more than $30 billion, according to people familiar with the matter. The move underscores Monsant
Published 20 Mar, 2016 12:00am
Italy's Banco Popolare says BPM deal closer

Italy's Banco Popolare says BPM deal closer

Banco Popolare's chief executive said on Saturday that the Italian bank and Banca Popolare di Milano (BPM) are getting closer to meeting the European Central Bank's merger conditions and a capital increase still cannot be ruled out. Prime Minister Matteo
Published 20 Mar, 2016 12:00am
BHP plans to mine Australia's iron ore Pilbara region for 100 years

BHP plans to mine Australia's iron ore Pilbara region for 100 years

The world's largest miner BHP Billiton expects to continue mining iron ore in western Australia's Pilbara for more than 100 years and will release a plan for its long-term future in the region on Monday, according to a company statement. BHP said it had l
Published 20 Mar, 2016 12:00am
India to delay quality standards for auto-grade steel imports

India to delay quality standards for auto-grade steel imports

India is likely to delay the implementation of quality standards on auto-grade steel imports, mainly from Japan and South Korea, after local carmakers sought an exemption to avoid any disruption to production, two government officials told Reuters. New ru
Published 20 Mar, 2016 12:00am
Iran's Zarif to discuss business, Syria on Turkey visit

Iran's Zarif to discuss business, Syria on Turkey visit

Iran's Foreign Minister Mohammad Javad Zarif joined his Turkish hosts in Istanbul on Saturday in condemning a suicide bombing by suspected Kurdish militants in a main shopping district that killed five people. Zarif, on a visit to bolster bilateral trade
Published 20 Mar, 2016 12:00am
Brazil central bank seeks to weaken real with reverse swaps
Currency

Brazil central bank seeks to weaken real with reverse swaps

Brazil's central bank plans to auction up to $1 billion worth of reverse currency swaps on Monday, in an indication that policymakers are uneasy with recent gains in the real that could worsen the magnitude of the nation's harshest recession in decades. O
Published 20 Mar, 2016 12:00am
IMF calls on crisis-hit Brazil to bolster economy
Exchange

IMF calls on crisis-hit Brazil to bolster economy

The International Monetary Fund on Thursday called on Brazil to reinforce its economy as the country grapples with a severe political and economic crisis. "Clearly, Brazil is facing a difficult situation and the key for Brazil is to strengthen the economi
Published 20 Mar, 2016 12:00am
IMF calls on crisis-hit Brazil to bolster economy
Exchange

IMF calls on crisis-hit Brazil to bolster economy

The International Monetary Fund on Thursday called on Brazil to reinforce its economy as the country grapples with a severe political and economic crisis. "Clearly, Brazil is facing a difficult situation and the key for Brazil is to strengthen the economi
Published 20 Mar, 2016 12:00am
Business executive sentenced to 5 years in Navy bribery scandal

Business executive sentenced to 5 years in Navy bribery scandal

An official at a Singapore company at the heart of a $30 million US Navy corruption scandal was sentenced Friday to five years and three months in prison, and ordered to pay $35 million in restitution to the US government. Alex Wisidagama, 42, was sentenc
Published 20 Mar, 2016 12:00am
Bundesbank chief expresses concern over 'Helicopter money'

Bundesbank chief expresses concern over 'Helicopter money'

"Helicopter money", or free cash dished out to citizens in a bid to stimulate spending and inflation, would end up costing euro zone states and therefore taxpayers, the head of Germany's central bank said in an interview with German newspapers. After year
Published 20 Mar, 2016 12:00am
US FOB Gulf corn, soyabean premiums steady

US FOB Gulf corn, soyabean premiums steady

Corn export premiums for shipments from the US Gulf Coast held unchanged on Thursday, underpinned by moderate export demand from traditional US customers for near-term shipments, traders said. US corn export sales in the 2015/16 season to date remain abou
Published 20 Mar, 2016 12:00am
European wheat prices fall on firm euro

European wheat prices fall on firm euro

European wheat futures fell on Thursday as a strengthening euro added to concerns about the slow pace of exports and a decline in Chicago gave added impetus to the decline in prices. Benchmark May milling wheat on the Paris-based Euronext market was down
Published 20 Mar, 2016 12:00am
India cancels corn import tender

India cancels corn import tender

India has cancelled a tender to import 240,000 tonnes of corn, trade and government sources said, hoping for a bigger-than-expected local summer harvest and following uncertainty over the availability of non-genetically modified corn as demanded. Global t
Published 20 Mar, 2016 12:00am
Thailand cuts 2016 sugar export forecast to 7.1 million tonnes

Thailand cuts 2016 sugar export forecast to 7.1 million tonnes

Thailand slashed its forecast for 2016 sugar exports to 7.1 million tonnes, or 20 percent below year-ago levels, due to drought and higher domestic demand, a government official said. Lower overseas sales by Thailand, the world's second biggest exporter o
Published 20 Mar, 2016 12:00am
Asian naphtha hits one month high; gasoline down

Asian naphtha hits one month high; gasoline down

Asia's naphtha crack for front-month first-half May extended gains on Thursday for the third straight session to reach its highest in a month at $72.35 a tonne, with traders citing fewer Western cargoes as a reason. Asia is still grappling with ample supp
Published 20 Mar, 2016 12:00am
Coffee premiums narrow in Vietnam; rise in Indonesia

Coffee premiums narrow in Vietnam; rise in Indonesia

Coffee premiums in Vietnam narrowed as farmers held back stocks expecting a further jump in robusta prices, but were up in Indonesia on thin stocks and local demand, traders said on Thursday. Premiums for Vietnamese robusta grade 2, 5 percent black and br
Published 20 Mar, 2016 12:00am
US Plains HRW wheat bids lower

US Plains HRW wheat bids lower

Hard red winter wheat spot basis bids were flat to lower in the southern US Plains on Thursday, pressured by light demand and adequate supplies, dealers said. Farmer sales were muted on Thursday as futures fell sharply and as growers monitored weather for
Published 20 Mar, 2016 12:00am
US Midwest corn, soyabean bids weaker

US Midwest corn, soyabean bids weaker

Spot corn and soyabean basis bids were steady to lower around the US Midwest on Thursday, pressured by accelerated farmer selling as futures prices climbed, grain merchants said. Chicago Board of Trade soyabeans rallied to their highest point in more than
Published 20 Mar, 2016 12:00am
China's steel, iron ore climb over 4 percent
Exchange

China's steel, iron ore climb over 4 percent

Iron ore and steel futures in China climbed more than 4 percent on Thursday, tracking firmer equities and other commodities as risk-appetite increased after the US Federal Reserve signaled fewer interest rate increases this year amid global headwinds. The
Published 20 Mar, 2016 12:00am
Russia's sugar market faces surplus in 2016

Russia's sugar market faces surplus in 2016

Russia's domestic sugar market faces a surplus if its farmers increase sugar beet sowing area in 2016, Andrey Bodin, the head of the country's Sugar Producers' Union, told a conference on Thursday. Russia has been increasing domestic sugar production in r
Published 20 Mar, 2016 12:00am
13 Egypt policemen killed in Sinai attack claimed by IS

13 Egypt policemen killed in Sinai attack claimed by IS

A mortar attack on a checkpoint in Egypt's restive Sinai Peninsula killed 13 policemen on Saturday, the interior ministry said in a statement. The Islamic State group (IS) claimed responsibility for the attack, but said in a statement that it had deployed
Published 20 Mar, 2016 12:00am
North-South Gas Pipeline: parties evaluating contract models

North-South Gas Pipeline: parties evaluating contract models

The government hoped that the commercial negotiations of North-South Gas Pipeline project are expected to take place in coming three to four months as parties are presently evaluating the contract models. Sources said parties are also evaluating the contr
Published 20 Mar, 2016 12:00am
North-South Gas Pipeline: parties evaluating contract models

North-South Gas Pipeline: parties evaluating contract models

The government hoped that the commercial negotiations of North-South Gas Pipeline project are expected to take place in coming three to four months as parties are presently evaluating the contract models. Sources said parties are also evaluating the contr
Published 20 Mar, 2016 12:00am
North-South Gas Pipeline: parties evaluating contract models

North-South Gas Pipeline: parties evaluating contract models

The government hoped that the commercial negotiations of North-South Gas Pipeline project are expected to take place in coming three to four months as parties are presently evaluating the contract models. Sources said parties are also evaluating the contr
Published 20 Mar, 2016 12:00am
Opposition to discuss PIA bill tomorrow

Opposition to discuss PIA bill tomorrow

A meeting of combined opposition parliamentary parties would be held on Monday to discuss "The Pakistan International Airlines Corporation (Conversion) Bill, 2016" and other bills which would be presented in a joint sitting of Parliament for passage. A jo
Published 20 Mar, 2016 12:00am
Opposition to discuss PIA bill tomorrow

Opposition to discuss PIA bill tomorrow

A meeting of combined opposition parliamentary parties would be held on Monday to discuss "The Pakistan International Airlines Corporation (Conversion) Bill, 2016" and other bills which would be presented in a joint sitting of Parliament for passage. A jo
Published 20 Mar, 2016 12:00am
Opposition to discuss PIA bill tomorrow

Opposition to discuss PIA bill tomorrow

A meeting of combined opposition parliamentary parties would be held on Monday to discuss "The Pakistan International Airlines Corporation (Conversion) Bill, 2016" and other bills which would be presented in a joint sitting of Parliament for passage. A jo
Published 20 Mar, 2016 12:00am
Trade policy framework approved by Prime Minister
Currency

Trade policy framework approved by Prime Minister

Prime Minister, Nawaz Sharif has reportedly approved Strategic Trade Policy Framework (STPF) 2015-18 after keeping the Commerce Ministry in waiting for several months, well informed sources told Business Recorder. The STPF envisages several incenti
Published 20 Mar, 2016 12:00am
Trade policy framework approved by Prime Minister
Currency

Trade policy framework approved by Prime Minister

Prime Minister, Nawaz Sharif has reportedly approved Strategic Trade Policy Framework (STPF) 2015-18 after keeping the Commerce Ministry in waiting for several months, well informed sources told Business Recorder. The STPF envisages several incenti
Published 20 Mar, 2016 12:00am
Trade policy framework approved by Prime Minister
Currency

Trade policy framework approved by Prime Minister

Prime Minister, Nawaz Sharif has reportedly approved Strategic Trade Policy Framework (STPF) 2015-18 after keeping the Commerce Ministry in waiting for several months, well informed sources told Business Recorder. The STPF envisages several incenti
Published 20 Mar, 2016 12:00am
Syria sees 'no progress' at peace talks, blasts UN mediator

Syria sees 'no progress' at peace talks, blasts UN mediator

A week of Geneva peace talks on Syria has proved fruitless, a source close to the Damascus government said Saturday, blaming UN pressure to end the five-year war. "We have seen no progress these past five days," the source told AFP, criticising UN mediato
Published 20 Mar, 2016 12:00am
Syria sees 'no progress' at peace talks, blasts UN mediator

Syria sees 'no progress' at peace talks, blasts UN mediator

A week of Geneva peace talks on Syria has proved fruitless, a source close to the Damascus government said Saturday, blaming UN pressure to end the five-year war. "We have seen no progress these past five days," the source told AFP, criticising UN mediato
Published 20 Mar, 2016 12:00am
Raids 'kill 39 civilians' in IS bastion in Syria

Raids 'kill 39 civilians' in IS bastion in Syria

A wave of air strikes killed at least 39 civilians on Saturday in Raqa, the main stronghold of the Islamic State jihadist group in Syria, a monitoring group said. At least five children and seven women were among the dead in IS's de facto capital in the n
Published 20 Mar, 2016 12:00am
Raids 'kill 39 civilians' in IS bastion in Syria

Raids 'kill 39 civilians' in IS bastion in Syria

A wave of air strikes killed at least 39 civilians on Saturday in Raqa, the main stronghold of the Islamic State jihadist group in Syria, a monitoring group said. At least five children and seven women were among the dead in IS's de facto capital in the n
Published 20 Mar, 2016 12:00am
Greece scrambles to implement EU-Turkey migrant deal

Greece scrambles to implement EU-Turkey migrant deal

Greece scrambled Saturday to begin the massive task of implementing an historic EU-Turkey migrant deal aimed at stemming the flow of refugees fleeing war and conflict in the Middle East. A key part of the agreement will take effect from Sunday midnight wh
Published 20 Mar, 2016 12:00am
Australia, Southeast Asia darken for tenth Earth Hour

Australia, Southeast Asia darken for tenth Earth Hour

Australia's iconic Sydney Opera House and Harbour Bridge went dark on Saturday night, as the Earth Hour campaign to switch off lights to call for action on climate change began rolling out across the planet, organisers said. Millions of people from 178 co
Published 20 Mar, 2016 12:00am
Australia, Southeast Asia darken for tenth Earth Hour

Australia, Southeast Asia darken for tenth Earth Hour

Australia's iconic Sydney Opera House and Harbour Bridge went dark on Saturday night, as the Earth Hour campaign to switch off lights to call for action on climate change began rolling out across the planet, organisers said. Millions of people from 178 co
Published 20 Mar, 2016 12:00am
62 killed as flydubai 737 jet crashes in south Russia

62 killed as flydubai 737 jet crashes in south Russia

A Boeing passenger jet operated by the flydubai budget airline crashed in southern Russia early Saturday, killing all 62 people on board as it tried to land in bad weather, officials said. The Boeing 737, which flew from Dubai to the southern Russian city
Published 20 Mar, 2016 12:00am
62 killed as flydubai 737 jet crashes in south Russia

62 killed as flydubai 737 jet crashes in south Russia

A Boeing passenger jet operated by the flydubai budget airline crashed in southern Russia early Saturday, killing all 62 people on board as it tried to land in bad weather, officials said. The Boeing 737, which flew from Dubai to the southern Russian city
Published 20 Mar, 2016 12:00am
Claimant: FTO asks FBR to issue tax refund, compensation

Claimant: FTO asks FBR to issue tax refund, compensation

Rejecting Federal Board of Revenue (FBR) claim to block a genuine refund, the Federal Tax Ombudsman (FTO) has strictly directed the FBR to issue income tax refund as well as compensation to a genuine refund claimant ie taxpayer. According to the FTO order
Published 20 Mar, 2016 12:00am
Claimant: FTO asks FBR to issue tax refund, compensation

Claimant: FTO asks FBR to issue tax refund, compensation

Rejecting Federal Board of Revenue (FBR) claim to block a genuine refund, the Federal Tax Ombudsman (FTO) has strictly directed the FBR to issue income tax refund as well as compensation to a genuine refund claimant ie taxpayer. According to the FTO order
Published 20 Mar, 2016 12:00am
Claimant: FTO asks FBR to issue tax refund, compensation

Claimant: FTO asks FBR to issue tax refund, compensation

Rejecting Federal Board of Revenue (FBR) claim to block a genuine refund, the Federal Tax Ombudsman (FTO) has strictly directed the FBR to issue income tax refund as well as compensation to a genuine refund claimant ie taxpayer. According to the FTO order
Published 20 Mar, 2016 12:00am
Three Israelis, one Iranian killed in Istanbul attack: Turkish media

Three Israelis, one Iranian killed in Istanbul attack: Turkish media

Three Israelis and one Iranian were killed in Saturday's suicide bombing in a busy shopping district of Istanbul, Turkish media reported. The victims were named as Israelis Simha Siman Demri, 60, Yonathan Suher, 40, Avraham Goldman, 70, and Iranian nation
Published 20 Mar, 2016 12:00am
Three Israelis, one Iranian killed in Istanbul attack: Turkish media

Three Israelis, one Iranian killed in Istanbul attack: Turkish media

Three Israelis and one Iranian were killed in Saturday's suicide bombing in a busy shopping district of Istanbul, Turkish media reported. The victims were named as Israelis Simha Siman Demri, 60, Yonathan Suher, 40, Avraham Goldman, 70, and Iranian nation
Published 20 Mar, 2016 12:00am
13 Egypt policemen killed in Sinai attack claimed by IS

13 Egypt policemen killed in Sinai attack claimed by IS

A mortar attack on a checkpoint in Egypt's restive Sinai Peninsula killed 13 policemen on Saturday, the interior ministry said in a statement. The Islamic State group (IS) claimed responsibility for the attack, but said in a statement that it had deployed
Published 20 Mar, 2016 12:00am
CBOT wheat lower as US weather worries ease

CBOT wheat lower as US weather worries ease

Wheat futures on the Chicago Board of Trade fell on Thursday, led by a 2.7 percent decline in K.C. hard red winter wheat futures as updated long-term forecasts eased worries about dryness in the southern US Plains, traders said. Updated one- and three-mon
Published 20 Mar, 2016 12:00am
European vegoils: palm oil rallies on output fears
Vegetable Oil

European vegoils: palm oil rallies on output fears

Palm oil on the European vegetable oils market rallied on Thursday on the back of output fears, a strong ringgit and a weak dollar, which were all supportive. "The dollar, the ringgit, production fears and strong energy markets all came together at one mo
Published 20 Mar, 2016 12:00am
Cotton market: prices make further gains on persistent demand
Cotton

Cotton market: prices make further gains on persistent demand

Cotton prices extended overnight gains amid short supply of quality lint in the process of trading, dealers said on Saturday. The official spot rate maintained rising trend for the second day, gaining further Rs 50 more at Rs 5,300, dealers said. In Sindh
Published 20 Mar, 2016 12:00am
Oil cake market rates
Cotton

Oil cake market rates

The March vaida showed weakness on the forward cottonseeds oilcake market on Saturday in the process of trading, dealers said. The March vaida closed at Rs 2050.50 and it commenced with a decline of 20 paisas at Rs 2050.30 in the early hours, they said.
Published 20 Mar, 2016 12:00am
Rice prices rise in Vietnam, steady in Thailand

Rice prices rise in Vietnam, steady in Thailand

Vietnamese rice export prices rose to near five-month high this week, pushed by China's buying and demand for loading government deals, while Thai rice prices were steady on thin demand, traders said on Wednesday. An absence of new deals due to rising pri
Published 20 Mar, 2016 12:00am
US natural gas futures up to five-week high
Exchange

US natural gas futures up to five-week high

US natural gas futures on Thursday gained over 3 percent to a five-week high on forecasts calling for a cold snap over parts of the country over the weekend and into early next week. For the rest of March, however, the weather models expect the return of
Published 20 Mar, 2016 12:00am
India to export 1.3 million tonnes of sugar

India to export 1.3 million tonnes of sugar

India has so far contracted to export 1.3 million tonnes of sugar in the 2015/16 marketing year started on October 1, of which 1 million tonnes have already been exported, head of a trade body said on Thursday. Exports from the world's second biggest prod
Published 20 Mar, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (March 19, 2016).

Published 20 Mar, 2016 12:00am
THE RUPEE: no major changes
Currency

THE RUPEE: no major changes

No visible variations were seen on the money market on Saturday as the rupee almost held its present levels in terms of the dollar in the process of trading, dealers said. The rupee did not budge any side against the dollar for buying and selling at Rs 10
Published 20 Mar, 2016 12:00am
THE RUPEE: no major changes
Currency

THE RUPEE: no major changes

No visible variations were seen on the money market on Saturday as the rupee almost held its present levels in terms of the dollar in the process of trading, dealers said. The rupee did not budge any side against the dollar for buying and selling at Rs 10
Published 20 Mar, 2016 12:00am
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