News Archives for Print - 2016-03-24

The European Central Bank will apply new European Commission guidelines on bank capital that raise the bar for stopping lenders from paying bonuses, dividends and discretionary coupons, the ECB's chief supervisor said on Wednesday. The Commission proposal

Published 24 Mar, 2016 12:00am

'Don't punish us', plead UK's fledgling banks as new rules bite

Tougher rules aimed at holding top UK bankers to account when things go wrong are driving up pay, which smaller "challenger" banks say is making it harder to recruit senior staff. Executives at several such banks told Reuters the Senior Managers Regime (S

Published 24 Mar, 2016 12:00am

Libor

Jailed Libor trader fined almost £900,000

A former British trader, who was jailed last year for Libor rate-rigging, was ordered Wednesday by a senior judge to pay almost £900,000 ($1.3 million, 1.1 million euros) in a confiscation order. Tom Hayes, 36, will have to hand over assets worth £878,806

Published 24 Mar, 2016 12:00am

Fed needs to 'get on with' rate hikes, says Harker

The Federal Reserve should consider another interest rate hike as early as next month if the US economy continues to improve as it has of late, a top Fed official said on Tuesday, as he said he would prefer at least three hikes before year end. Philadelph

Published 24 Mar, 2016 12:00am

US new home sales rise on strong gains in the West

New US single-family home sales rebounded modestly in February as a surge in the West offset sharp declines in other regions, pointing to a gradually improving housing sector amid a dearth of properties available on the market. The Commerce Department sai

Published 24 Mar, 2016 12:00am

Currency

Nike's revenue misses as strong dollar weighs

Nike Inc, the world's largest footwear maker, reported quarterly revenue that missed analysts' estimates as a strong dollar hurt sales from some of its overseas markets. The company's orders for delivery from March through July in North America, a demand

Published 24 Mar, 2016 12:00am

Currency

Nike's revenue misses as strong dollar weighs

Published 24 Mar, 2016 12:00am

Report finds doubts at BoE over its competition role

The Bank of England has helped to increase competition in banking even though some officials may have preferred focusing entirely on keeping lenders safe, a BoE report said on Wednesday. The UK government is keen to weaken the dominance of the Big Four ba

Published 24 Mar, 2016 12:00am

Credit Suisse to axe 2,000 more investment banking jobs

A slump in investment banking revenues pushed Credit Suisse to accelerate its cost-cutting plan as Chief Executive Tidjane Thiam admitted he had been unaware of trading positions that triggered more big writedowns in the first quarter. Switzerland's secon

Published 24 Mar, 2016 12:00am

Currency

China offers $11.5 billion in loans, credit to Southeast Asia

China will offer $11.5 billion in loans and credit lines to five Southeast Asian countries for infrastructure and other projects, Premier Li Keqiang said on Wednesday. In 2014, Li offered $20 billion in loans to Southeast Asia, while visiting Myanmar to a

Published 24 Mar, 2016 12:00am

Lloyd's of London 2015 pre-tax profit drops 30 percent

The Lloyd's of London insurance market reported a 30 percent drop in pre-tax profit to 2.1 billion pounds ($2.98 billion) on Wednesday, hit by a fall in investment returns and pressure on prices. The market's return on capital fell to 9.1 percent from 14.

Published 24 Mar, 2016 12:00am

Lloyd's of London 2015 pre-tax profit drops 30 percent

Published 24 Mar, 2016 12:00am

Brazil unemployment hits seven-year high

Brazil's unemployment rate hit 8.2 percent last month, the highest level for February since 2009, official data said Wednesday, as the country struggles through twin political and economic crises. Latin America's largest economy is mired in a deep recessi

Published 24 Mar, 2016 12:00am

Italy government wins confidence vote on bid to bolster battered banks

Italy's government won a confidence vote on Wednesday on a decree aimed at helping the country's feeble banking system, including state-backed guarantees to help sell bad loans. Lower house deputies voted 351-180 in favour of the package put forward by Pr

Published 24 Mar, 2016 12:00am

Egypt bourse rises after cabinet reshuffle; Gulf markets mixed

Egypt's stock market rose on Wednesday after President Abdel Fattah al-Sisi reshuffled his cabinet, while Gulf bourses were mixed in the absence of fresh incentives to trade. The sweeping Egyptian reshuffle appeared to focus on improving economic performa

Published 24 Mar, 2016 12:00am

Australian shares slip, New Zealand nudges to new record

Australian shares declined on Wednesday as weakness in miners and financials dragged on the broader market, while New Zealand stocks edged closer to all-time highs. The S&P/ASX 200 index fell 24.3 points, or 0.5 percent, to 5,142.3 at the close of trade.

Published 24 Mar, 2016 12:00am

Tokyo shares drop as Asian shares falter

Tokyo stocks fell Wednesday in tandem with Asian peers, following a weak lead from Wall Street and the deadly Brussels bombings. US equity markets ended lower on Tuesday as airline and travel company shares took a hit following the chaos in Belgium. The e

Published 24 Mar, 2016 12:00am

Wednesday's early afternoon trade: energy slide drags down indexes

A decline in energy stocks weighed on Wall Street on a quiet Wednesday as investors shied away from big bets after the Brussels attacks and ahead of the long Easter weekend. Oil prices fell more than 2 percent after data showing a rise in US stockpiles la

Published 24 Mar, 2016 12:00am

Healthcare leads Wall Street recovery after Brussels blasts

Wall Street recouped early losses on Tuesday, helped by a rise in healthcare stocks, even as travel-related shares remained under pressure following the Brussels attacks. Gains in Exxon, Apple and UnitedHealth also supported the market after the explosion

Published 24 Mar, 2016 12:00am

Sri Lankan shares retreat

Sri Lankan shares ended weaker on Wednesday, slipping from a near three-week high hit in the previous session, as foreign investors exited risk assets amid concerns over the country's economic growth and rising bond yields. Sri Lanka's economy is expected

Published 24 Mar, 2016 12:00am

Treasury yields fall on safety buying

US Treasury yields fell on Tuesday on safety buying after twin attacks on Brussels airport and a rush-hour metro train in the Belgian capital triggered security alerts across western Europe. The blasts occurred four days after the arrest in Brussels of a

Published 24 Mar, 2016 12:00am

Treasury yields fall on safety buying

Published 24 Mar, 2016 12:00am

Taiwan stocks slightly down

Taiwan stocks were slightly down on Wednesday, hovering up and down amid caution over the weak trade-reliant economy. Taiwan's central bank holds its quarterly policy meeting on Thursday when it is expected to continue a rate-cutting cycle that it began i

Published 24 Mar, 2016 12:00am

Indian shares end little changed

Indian shares ended virtually unchanged on Wednesday as investors booked profits ahead of a long weekend, although broader sentiment was supported by expectations the central bank would cut interest rates at its policy review on April 5. The broader NSE i

Published 24 Mar, 2016 12:00am

China stocks soar

China stocks closed up on Wednesday, helped by a mild afternoon rally, recovering from an earlier slump following bomb attacks in Belgium. Regional shares slipped on Wednesday, but held near 3-1/2-month highs hit earlier this week as investors took comfor

Published 24 Mar, 2016 12:00am

European shares led lower by miners, Credit Suisse outperforms

European shares slipped on Wednesday, after a dip in the previous session following deadly attacks in Brussels, with miners leading the decline on weaker metal prices. Credit Suisse outperformed its sector on news the Swiss bank was cutting costs further.

Published 24 Mar, 2016 12:00am

Hong Kong shares down

Hong Kong shares finished slightly lower on Wednesday as investors in Asia weighed signs of economic warming but remained on the sidelines after deadly bomb attacks in Brussels. The Hang Seng index fell 0.3 percent to 20,615.23 points, while the China Ent

Published 24 Mar, 2016 12:00am

Southeast Asian markets: Thai, Philippine shares rise

Southeast Asian stock markets ended mixed on Wednesday, with the Thai benchmark hitting a more than 4-month high and the key Philippine stock index rebounding after central banks in both countries kept interest rates steady as expected. The Thai SET index

Published 24 Mar, 2016 12:00am

FTSE edges up as investors cheer Kingfisher results

UK shares advanced on Wednesday as Kingfisher, Europe's largest home improvement retailer, beat profit expectations and investors dipped back into the travel sector. The bluechip FTSE 100 was up 6.37 points, or 0.1 percent at 6,198.50 points by the close.

Published 24 Mar, 2016 12:00am

Exchange

Egyptian pound weakens sharply against the dollar on black market

The Egyptian pound has been weakening at a fast pace on the black market as hard currency demand rises in the dollar-starved economy, five traders and an importer told Reuters on Wednesday. Egypt, which relies heavily on imports, has been facing a shortag

Published 24 Mar, 2016 12:00am

Currency

Aussie, kiwi hold their ground in cautious trade

The Australian and New Zealand currencies held their ground on Wednesday with markets in an uncertain mood following attacks in Brussels that killed at least 30 people. With Asian equity markets suffering only modest declines, the Aussie - usually sold of

Published 24 Mar, 2016 12:00am

Exchange

Dollar steadies in Asia

The dollar steadied on Wednesday, underpinned by hawkish comments from US Federal Reserve officials as Asian investors reacted to overnight news of attacks in Brussels. Attacks on Brussels airport and a rush-hour metro train in the Belgian capital, which

Published 24 Mar, 2016 12:00am

Currency

Dollar soars in Europe as investors eye Fed rate hikes

The dollar rose to a one-week high against a basket of major currencies on Wednesday, boosted by hawkish comments by US Federal Reserve officials and safe-haven demand following Tuesday's attacks in Brussels. Three-month sterling implied volatility soared

Published 24 Mar, 2016 12:00am

Currency

Early trade in New York: dollar rises as Fed officials talk rate hikes

The dollar rose to a one-week high against a basket of major currencies on Wednesday, boosted by hawkish comments from US Federal Reserve officials. The dollar index, which tracks the US currency against six major rivals, rose about 0.5 percent to 96.090,

Published 24 Mar, 2016 12:00am

Currency

Dollar rises in New York as Brussels attacks weaken European currencies

The dollar rose on Tuesday as the euro and sterling weakened following attacks in Brussels that left at least 34 dead, weighing on investor risk sentiment and bolstering the view that Britain was more likely to vote to exit the European Union. Sterling fe

Published 24 Mar, 2016 12:00am

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 78.40-78.40 (previous 78.40-78.40). 02.50-04.50 percent (Previous 02.25-04.50 percent).

Published 24 Mar, 2016 12:00am

Currency

Canadian dollar pares losses

The Canadian dollar pared losses against its US counterpart on Tuesday from a session low hit after deadly blasts in Brussels, with the market bracing for a federal budget announcement expected to include significant fiscal stimulus. The explosions in the

Published 24 Mar, 2016 12:00am

Exchange

China's yuan edges lower despite firmer midpoint

China's yuan eased against the dollar on Wednesday, despite a firmer midpoint setting by the central bank. The People's Bank of China set the midpoint rate at 6.4936 per dollar prior to the market open, 0.05 percent firmer than the previous fix of 6.4971.

Published 24 Mar, 2016 12:00am

Currency

Sri Lankan rupee forwards down; further falls seen

Sri Lankan rupee forwards slid for a second successive session on Wednesday due to importer dollar demand, while dealers expect the local currency to remain under pressure in the near term due to growing uncertainty after the announcement of new tax hikes

Published 24 Mar, 2016 12:00am

Currency

Fed rate hike talk hurts Asia FX

Most emerging Asian currencies slid on Wednesday due to the dollar's broad strength as more Federal Reserve officials made comments indicating it might not be long before US rates go higher. The Malaysian ringgit bucked regional depreciation, hitting its

Published 24 Mar, 2016 12:00am

Exchange

Cost of hedging pound soars to near six-year highs on Brexit anxiety

The cost of hedging against sharp swings in sterling surged to its highest in almost six years on Wednesday, three months before a June referendum on Britain's European Union membership, and coinciding with narrowing bookmaker odds on a vote to leave. Sen

Published 24 Mar, 2016 12:00am

Abbottabad take hockey title in Hazara Region Games

Abbottabad defeated Haripur in the final hockey tournament of Under-23 Hazara Region Inter-District Men Games, which concluded at Hockey Complex Abbottabad on Wednesday. Deputy Commissioner Abbottabad Ammara Amir Khattak was the chief guest on this occasi

Published 24 Mar, 2016 12:00am

Europe shirt sponsorship on course to top 1 billion euros

Shirt sponsorship in Europe's top six leagues is now worth 830 million euros a year and is on course to top one billion euros within two seasons, according to a study released Wednesday. The Repucom sports data firm said that English Premier League shirts

Published 24 Mar, 2016 12:00am

Exchange

Murray trades Twitter jabs with Stakhovsky over gender equity

World number two Andy Murray and Ukraine's 115th-ranked Sergiy Stakhovsky had a heated Twitter exchange over gender equity in tennis prize money as the controversy took center stage at the Miami Open. The debate began with disparaging remarks about women'

Published 24 Mar, 2016 12:00am

Batting 'wrong way' is way to go: study

Cricketers who face up the 'wrong way round' are seven times more likely to become professional batsmen, according to a new study published in the journal Sports Medicine on Wednesday. Young players have traditionally been told to place their dominant han

Published 24 Mar, 2016 12:00am

FINA 'robust' on Russian anti-doping

Swimming's world governing body FINA said on Wednesday that it has taken a "robust" approach towards anti-doping procedures involving Russian swimmers following revelations about the country's athletics programme. FINA's remarks followed an investigation

Published 24 Mar, 2016 12:00am

Delhi confirmed as World T20 semi-final venue

New Delhi's Feroz Shah Kotla stadium has been confirmed as a semi-final host of the World Twenty20 after receiving the final green light from municipal authorities, a senior cricket official said Wednesday. There had been growing fears that the first semi

Published 24 Mar, 2016 12:00am

England survive Afghan scare

Eoin Morgan breathed a sigh of relief about England's strength in depth after a late flourish from Moeen Ali and David Willey spared the team's blushes Wednesday against Afghanistan at cricket's World Twenty20. Ali and Willey shared an unbroken 57-run par

Published 24 Mar, 2016 12:00am

India scrape to one-run victory over Bangladesh

India scraped to a one-run win against a tenacious Bangladesh in Bangalore in a thrilling match on Wednesday, keeping their hopes of World Twenty20 glory alive. India were restricted to 146 for seven after being sent in to bat at the Chinnaswamy Stadium,

Published 24 Mar, 2016 12:00am

Farmers protest as prices slump for 'Made in Italy'

Thousands of farmers took their tractors to a rally in southern Italy on Wednesday to sound the alarm over plummeting prices of prized Italian goods and demand mandatory origin labelling. "We are here to defend Italian farming, which is at risk throughout

Published 24 Mar, 2016 12:00am

Russian general admits special forces 'directing warplanes' in Syria

Russia's elite special forces contingents are active on the battlefield in Syria, directing Russian warplanes, the commander of Russia's forces in Syria admitted in an interview published Wednesday. "I won't conceal that there are also contingents of our

Published 24 Mar, 2016 12:00am

Big trade deals threaten global warming fight

The legal powers that global companies would gain under huge Pacific and Atlantic trade deals could erode efforts to combat global warming, the Sierra Club said Wednesday. The environmental group said the two pacts championed by Washington would allow for

Published 24 Mar, 2016 12:00am

More aid agencies pull out of Greek camps, spurning EU deal

More aid agencies helping refugees and migrants arriving in Greece said they were joining a boycott of detention centres on Wednesday, angered at an EU deal they say runs roughshod over human rights. Human rights organisations reject the pact between the

Published 24 Mar, 2016 12:00am

Zimbabwe gives foreign firms week to comply with indigenisation laws

Zimbabwe on Wednesday gave foreign businesses until April 1 to comply with controversial equity laws that compel them to cede majority stakes to locals or risk closure. "The law is the law. The law must be adhered to," Indigenisation Minister Patrick Zhuw

Published 24 Mar, 2016 12:00am

Zimbabwe gives foreign firms week to comply with indigenisation laws

Published 24 Mar, 2016 12:00am

Briton found guilty of plotting IS-inspired shootings in 2014

A man was found guilty in London Wednesday of a 2014 plot to kill police, troops and civilians in a drive-by shooting inspired by Islamic State (IS) group jihadists. Suhaib Majeed was convicted of conspiracy to murder and preparation of terrorist acts fol

Published 24 Mar, 2016 12:00am

German president, in China, criticises communist East Germany

German President Joachim Gauck told students in China on Wednesday that communist East Germany lacked legitimacy, as he denounced "dictatorship" and called for academic freedom. China is in a midst of a renewed crackdown on civil society and the media by

Published 24 Mar, 2016 12:00am

Palestinians ban goods of five Israeli firms from West Bank

The Palestinian government has announced products from five Israeli companies will be prevented from entering the occupied West Bank, calling it a response to a similar decision by the Jewish state. "In response to the Israeli decision to ban the entry to

Published 24 Mar, 2016 12:00am

Trade deal signed

The United States and Argentina sealed a major trade deal on the first day of President Barack Obama's visit Wednesday, bolstering the efforts of his counterpart to end a decade-and-a-half of international financial isolation. After talks in Buenos Aires

Published 24 Mar, 2016 12:00am

Obama in Argentina after Cuba milestone: Obama urges unity against terror, vows to wipe out IS

US President Barack Obama urged nations Wednesday to unite against terrorism after the deadly attacks in Brussels and said wiping out the Islamic State extremist group was his "top priority." The Islamic State claimed responsibility after bombers killed 3

Published 24 Mar, 2016 12:00am

World Bank approves $500 million loan for Beijing clean-air projects

The World Bank has approved a $500 million loan to China to support financing of projects to help control air pollution in and around Beijing. The money is part of a broader programme expected to reach $1.4 billion for "green financing" over the next six

Published 24 Mar, 2016 12:00am

Mahathir sues Prime Minister Najib, alleging abuse of power

Former Malaysian premier Mahathir Mohamad filed a suit against scandal-plagued Prime Minister Najib Razak on Wednesday, alleging corruption and abuse of power, his lawyers said, the latest salvo in his efforts to remove Najib from office. But it is unlike

Published 24 Mar, 2016 12:00am

Sisi names 10 new ministers

President Abdel Fattah al-Sisi on Wednesday swore in 10 new ministers in a cabinet reshuffle, as Egypt struggles to revive an economy battered by falling tourism revenues and foreign investments. The government shake-up - mainly of economic portfolios - c

Published 24 Mar, 2016 12:00am

Business community hails STPF 2015-18

The business community of Southern Punjab has hailed the Strategic Trade Policy Framework (STPF) 2015-18 approved by Prime Minister Nawaz Sharif termed it balanced and export growing policy. President of Multan Chamber of Commerce and Industry (MCCI) Fare

Published 24 Mar, 2016 12:00am

WAPDA, UAF sign MoU

The Pakistan Water and Power Development Authority (WAPDA) signed a Memorandum of Understanding (MoU) with the University of Agriculture Faisalabad to support research and training activities leading to sustainable development and management of water reso

Published 24 Mar, 2016 12:00am

UBG demands reduction in urea prices

The ruling United Business Group (UBG) of FPCCI on Wednesday demanded cut in the price of locally produced urea to boost agricultural production as high price is beyond the capacity of poor farmers. The difference in price of 50kg per bag of locally produ

Published 24 Mar, 2016 12:00am

Government urged to reduce import duty to counter smuggling

The business community has urged the government to reduce the import duty on all those products/items which are being smuggled into Pakistan. The market sources said if the cost of import is reduced by slashing import duty, it would help check illegal tra

Published 24 Mar, 2016 12:00am

FPCCI lauds trade policy

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has termed trade policy encouraging in the prevailing circumstances and assured support to the government to help achieve export target of 35 billion dollars up to 2018. In a statement i

Published 24 Mar, 2016 12:00am

Rouhani's visit no normal diplomatic occurrence: IPR

"Instead of viewing the Iranian President's visit to Pakistan as a normal diplomatic occurrence, we must view it as an opportunity to move forward our bilateral relations by many leaps," the Institute for Policy Reforms (IPR) said ahead of the visit of Ir

Published 24 Mar, 2016 12:00am

Highnoon Laboratories Limited

A local giant in the pharma industry, Highnoon Laboratories Limited (PSX:HINOON) was incorporated in 1984 as a private limited company in Lahore. It went public in 1985 , and since then it has risen to a position of prominence in the domestic pharma scene

Published 24 Mar, 2016 12:00am

Highnoon Laboratories Limited

Published 24 Mar, 2016 12:00am

DG Customs Valuation rejects importer's plea

Directorate General of Customs Valuation, Karachi has rejected a petition filed by an importer of goods ie Synthetic Rubber, Acrylonitrile Butadiene Rubber (NBR-6240) against its Valuation Ruling No 772/2015 dated 23-11-20 15. According to the order-in-re

Published 24 Mar, 2016 12:00am

Pak-Afghan trade through Kurram Agency witnesses sharp increase

Bilateral trade between Afghanistan through Kurram Agency of the Federally Administered Tribal Area (Fata) has witnessed sharp increase during the current financial year. In the wake of the closure of Customs Station Ghulam Khan (North Waziristan Agency)

Published 24 Mar, 2016 12:00am

Prime Minister congratulates PML-N candidate

Prime Minister Nawaz Sharif has congratulated former Justice Iftikhar Ahmad Cheema on winning the by elections in NA-101 Wazirabad (Gujranwala). Extending his congratulations and felicitation to the people of Wazirabad over their overwhelming trust in the

Published 24 Mar, 2016 12:00am

Government decides not to extend CEO PSM's contract

Federal government has reportedly decided not to extend Chief Executive Officer, Pakistan Steel Mills (PSM) Major General Zaheer Ahmad Khan's (retired) contract due to his poor performance in two years, well informed sources told Business Recorder.

Published 24 Mar, 2016 12:00am

KP to procure 350,000 tons of wheat: minister

The working group of food department Khyber Pakhtunkhwa met here with Minister for Food Haji Qalandar Khan Lodhi in the chair, here on Wednesday. The meeting was attended by Secretary Food Asmatullah Khan Gandapur, Director General Agriculture Department

Published 24 Mar, 2016 12:00am

'Pakistan, Sri Lanka to broaden relationship'

Pakistan High Commissioner to Sri Lanka Major General Syed Shakeel Hussain on Wednesday said that Pakistan and Sri Lanka would take substantive measures to further broaden their economic and political relationship. The High Commissioner said this in a cer

Published 24 Mar, 2016 12:00am

Prime Minister for diseases-free society

Prime Minister Muhammad Nawaz Sharif while reiterating his government's efforts for a diseases-free society has deeply commended the efforts of quarters concerned for fighting Tuberculosis (TB). The Prime Minister, in a message on the World TB Day being o

Published 24 Mar, 2016 12:00am

Pakistan Day celebrated in Karachi with fervour

The 76th Pakistan Day was celebrated throughout the country on Wednesday with traditional fervour to commemorate the 1940's Lahore Resolution. During the day, special prayers were held for security and prosperity of the country. The day dawned with a 21-g

Published 24 Mar, 2016 12:00am

KP passing through critical phase of history: speaker

Speaker, Khyber Pakhtunkhwa Assembly, Asad Qaiser has said that the province is passing through a critical phase of history. He was addressing a function in a private school at Chota Lahore, District Swabi. Senior Minister, Shehram Khan Tarakai, Sami-ul-H

Published 24 Mar, 2016 12:00am

Pak Navy celebrates Pakistan Day with traditional zeal

Pakistan Navy celebrated Pakistan Day with traditional zeal and fervour. The day was observed to remind the nation of the ideals for which the country was created when Indian Muslims declared their demand for a separate homeland to safeguard the sanctity

Published 24 Mar, 2016 12:00am

Governor confers civil awards

In connection with the Pakistan Day, a ceremony for the conferment of the civil awards was held at the Governor House, here on Wednesday. Governor Sindh, Dr Ishrat ul Ebad Khan, conferred the awards on the occasion to 12 personalities announced by the fed

Published 24 Mar, 2016 12:00am

Soneri Bank innovates with MasterCard Debit Card in Pakistan

Soneri Bank Limited, one of Pakistan's leading private commercial banks, and MasterCard announced the launch of MasterCard Debit Cards for the bank's customers. The deal, covering the entire Pakistan market, allows Soneri Bank customers to exclusively lev

Published 24 Mar, 2016 12:00am

ICI Pakistan organises event for patients of CCH

On the occasion of Pakistan Day, ICI Pakistan arranged a fun full activity for the Children Cancer Hospital (CCH) patients and their parents at PAF Museum on Wednesday. According to the event organisers, the theme of the event was to share happiness with

Published 24 Mar, 2016 12:00am

Farmers asked to ensure field sanitation

The Met Office has asked farmers to ensure field sanitation and spray prophylactic fungicidal to protect vegetable crops from diseases. Wheat growers of Punjab, Khyber Pakhtunkhwa and upper Sindh were also asked to stop irrigating their crops keeping in v

Published 24 Mar, 2016 12:00am

Two abductors arrested with ransom money

The police arrested two abductors besides recovering ransom money during crackdown here on Wednesday. SSP East Faisal Abdullah said that on a tipoff regarding presence of criminals, the New Town police conducted operation near Civic Centre during which tw

Published 24 Mar, 2016 12:00am

Meezan Bank conducts intensive Islamic finance course

Meezan Bank, Pakistan's leading Islamic Bank, recently organised a '6-Day Advanced Islamic Finance' course for its staff members at its Learning & Development Centre-Karachi. This course forms part of the Bank's regular efforts to keep its staff members u

Published 24 Mar, 2016 12:00am

Exchange

Money exchange dealers: Bostan hails branch-less banking facility

The President of Forex Association of Pakistan, Malik Bostan, has praised the branch-less banking facilities given to money exchange dealers by the Federal Finance Ministry and the State Bank of Pakistan (SBP). Talking to APP here on Tuesday, he said that

Published 24 Mar, 2016 12:00am

Two people drown in Mangla dam

Two persons drowned as a boat, with at least 22 persons on board, capsized in Mangla dam here on Wednesday, police said. According to details the ferry carrying about 22 persons travelling from Mirpur for pilgrimage / Urs at the mausoleum of religious sai

Published 24 Mar, 2016 12:00am

KP Governor confers awards on four personalities

Khyber Pakhtunkhwa Governor Eng Iqbal Zafar Jhagra on behalf of the President of the Islamic Republic of Pakistan, Muhammad Mamnoon Hussain honoured one personality of the province with Tamgh-e-Imtiaz, two personalities of the province with Presidential p

Published 24 Mar, 2016 12:00am

Pakistan Day celebrated in KP, Fata with zeal

Pakistan Day was celebrated in Khyber Pakhtunkhwa and Fata on Wednesday with zeal and fervour. The day dawned with a 21-gun salute in the provincial capital with stringent security measures in place. Different political parties, traders and religious grou

Published 24 Mar, 2016 12:00am

Armament exhibition held at Ayub Stadium

All roads of the Punjab metropolis led to Ayub Stadium, where a colourful armament exhibition-the main festivity of the day was held to celebrate the Pakistan Day by Lahore Garrison in a big way. General Officer Commanding Major General Sardar Tariq Amman

Published 24 Mar, 2016 12:00am

Pakistan Day: Punjab chief minister vows elimination of poverty, unemployment, corruption

Punjab Chief Minister Muhammad Shahbaz Sharif has promised to the nation on the historic Pakistan Day that he will spare no effort for the enrolment of every child in school, elimination of poverty, unemployment and ignorance as well as rooting out the sy

Published 24 Mar, 2016 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 23	252.10

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

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