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Nov 28, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-03-31
Daily trading report of PMEX
Exchange

Daily trading report of PMEX

On Tuesday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 6,653 million. The number of lots traded was 21.95 million. PMEX Commodity Index closed at 2,709. Major business was contributed by gold amounting to PKR 6,075 million followed by cr
Published 31 Mar, 2016 12:00am
Khamenei says missiles, not 'negotiations' key to Iran security

Khamenei says missiles, not 'negotiations' key to Iran security

Iran's supreme leader said Wednesday that missile power was key to the country's future security, slapping down moderates who say the focus should be on diplomacy. Ayatollah Ali Khamenei, who has the final say in all matters of state in Iran, praised the
Published 31 Mar, 2016 12:00am
Vietnam's coffee premiums stable, sales slow

Vietnam's coffee premiums stable, sales slow

Coffee sales were slow and premiums stable as Vietnamese growers were reluctant to release stocks as the dry season peaked and on slack demand due to a long market holiday, traders said on Tuesday. Farmers in the Central Highlands coffee belt have been hi
Published 31 Mar, 2016 12:00am
Khamenei says missiles, not 'negotiations' key to Iran security

Khamenei says missiles, not 'negotiations' key to Iran security

Iran's supreme leader said Wednesday that missile power was key to the country's future security, slapping down moderates who say the focus should be on diplomacy. Ayatollah Ali Khamenei, who has the final say in all matters of state in Iran, praised the
Published 31 Mar, 2016 12:00am
US Midwest corn, soyabean bids rise

US Midwest corn, soyabean bids rise

Spot basis bids for corn and soyabeans strengthened in the US Midwest on Tuesday, and farmers sold some of their crops to take advantage of rising prices, traders said. Farmers were active sellers of old-crop and new-crop soyabeans as futures prices advan
Published 31 Mar, 2016 12:00am
CDWP approves uplift projects worth Rs 218.22 billion
Exchange

CDWP approves uplift projects worth Rs 218.22 billion

Central Development Working Party (CDWP) has approved development projects for various sectors at the cost of Rs 218.22 billion including seven projects worth Rs 203.48 billion were referred to Executive Committee of National Economic Council (ECNEC) for
Published 31 Mar, 2016 12:00am
US FOB Gulf soyabean premiums weaker

US FOB Gulf soyabean premiums weaker

Export premiums for soyabeans shipped from the US Gulf Coast were steady to lower on Tuesday on ample supplies and seasonally weak demand from key buyers such as China, traders said. Brazilian soyabean prices are about 7 to 8 cents per bushel below US Gul
Published 31 Mar, 2016 12:00am
CDWP approves uplift projects worth Rs 218.22 billion
Exchange

CDWP approves uplift projects worth Rs 218.22 billion

Central Development Working Party (CDWP) has approved development projects for various sectors at the cost of Rs 218.22 billion including seven projects worth Rs 203.48 billion were referred to Executive Committee of National Economic Council (ECNEC) for
Published 31 Mar, 2016 12:00am
US natural gas futures up on cool weather
Exchange

US natural gas futures up on cool weather

US natural gas futures on Tuesday gained 3 percent to a two-week high on forecasts for steady, seasonably cool weather through the middle of April. On its last day as the front-month, April futures on the New York Mercantile Exchange closed up 5.5 cents,
Published 31 Mar, 2016 12:00am
CDWP approves uplift projects worth Rs 218.22 billion
Exchange

CDWP approves uplift projects worth Rs 218.22 billion

Central Development Working Party (CDWP) has approved development projects for various sectors at the cost of Rs 218.22 billion including seven projects worth Rs 203.48 billion were referred to Executive Committee of National Economic Council (ECNEC) for
Published 31 Mar, 2016 12:00am
Activity at Karachi & Qasim ports

Activity at Karachi & Qasim ports

The Karachi Port handled 106,831 tonnes of cargo comprising 90,941 tonnes of import cargo and 15,890 tonnes of export cargo including 4,286 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday. The total import cargo of 9
Published 31 Mar, 2016 12:00am
Hollande scraps plan to strip terror convicts of nationality

Hollande scraps plan to strip terror convicts of nationality

French President Francois Hollande on Wednesday scrapped contested constitutional reforms he proposed after the Paris attacks, in an embarrassing U-turn for his already beleaguered government. The reforms included a plan to strip convicted terrorists of t
Published 31 Mar, 2016 12:00am
Oil cake market rates
Cotton

Oil cake market rates

The May vaida was down while the July contract was unchanged on the forward cottonseeds oilcake market on Wednesday in the process of trading, dealers said. The May contract closed at Rs 2050.30 but it commenced with 30 paisa fall at Rs 2050.00 in the wee
Published 31 Mar, 2016 12:00am
Hollande scraps plan to strip terror convicts of nationality

Hollande scraps plan to strip terror convicts of nationality

French President Francois Hollande on Wednesday scrapped contested constitutional reforms he proposed after the Paris attacks, in an embarrassing U-turn for his already beleaguered government. The reforms included a plan to strip convicted terrorists of t
Published 31 Mar, 2016 12:00am
Cotton market: Volume of business improves on persistent demand
Cotton

Cotton market: Volume of business improves on persistent demand

The volume of business improved on the cotton market on Wednesday following the persistent demand by mills and spinners, dealers said. The official spot rate was unchanged at Rs 5,300 dealers said. In Sindh, seed cotton prices were at Rs 2200-2400, and in
Published 31 Mar, 2016 12:00am
Mayoral elections: It's not court's business to make law: CJP

Mayoral elections: It's not court's business to make law: CJP

Adjourning the hearing of a matter relating to mayoral election in Sindh Wednesday, Chief Justice Anwar Zaheer Jamali observed that the Supreme Court has nothing to do with legislation but to interpret the constitution. A three-member bench of Chief Justi
Published 31 Mar, 2016 12:00am
HRW wheat bids ease

HRW wheat bids ease

Hard red winter wheat cash basis bids eased by 5 cents per bushel in Goodland, in north western Kansas, on Tuesday, pressured by lacklustre demand from flour mills and recent gains in futures, dealers said. Basis bids for HRW wheat were largely steady els
Published 31 Mar, 2016 12:00am
Mayoral elections: It's not court's business to make law: CJP

Mayoral elections: It's not court's business to make law: CJP

Adjourning the hearing of a matter relating to mayoral election in Sindh Wednesday, Chief Justice Anwar Zaheer Jamali observed that the Supreme Court has nothing to do with legislation but to interpret the constitution. A three-member bench of Chief Justi
Published 31 Mar, 2016 12:00am
Modest trade seen on grain market
Cotton

Modest trade seen on grain market

The mixed price patterns were seen on the wholesale grain market on Wednesday in the process of modest trade activity, dealers said. On the cereals side, Moong Afghan fell sharply by Rs 750 to Rs 9750 and Masoor Canada best type was unchanged at Rs 11600
Published 31 Mar, 2016 12:00am
$506,800 recovered from Ayyan declared her property

$506,800 recovered from Ayyan declared her property

Turning down the Customs department''''s plea to initiate criminal proceedings against supermodel Ayyan Ali under money laundering charges on Wednesday the Special Customs Court of Rawalpindi declared the recovered amount of $506,800 from Ayyan Ali''''s l
Published 31 Mar, 2016 12:00am
ICE cotton down on China stockpile worries
Cotton

ICE cotton down on China stockpile worries

Cotton futures traded lower on Tuesday on expectations China will soon begin offloading its huge reserves and in cautious trading ahead of the US government's planting intentions report on Thursday. The plantings report will likely not be bullish and unti
Published 31 Mar, 2016 12:00am
$506,800 recovered from Ayyan declared her property

$506,800 recovered from Ayyan declared her property

Turning down the Customs department''s plea to initiate criminal proceedings against supermodel Ayyan Ali under money laundering charges on Wednesday the Special Customs Court of Rawalpindi declared the recovered amount of $506,800 from Ayyan Ali''s lugga
Published 31 Mar, 2016 12:00am
Shanghai copper down
Exchange

Shanghai copper down

Shanghai Futures Exchange copper fell 1.8 percent to 37,040 yuan ($5,715) a tonne on Wednesday, off the day's low of 36,920 yuan ($5,697) - the weakest since March 9. Copper slips on simmering concerns over global economic growth, although a softer dollar
Published 31 Mar, 2016 12:00am
$506,800 recovered from Ayyan declared her property

$506,800 recovered from Ayyan declared her property

Turning down the Customs department's plea to initiate criminal proceedings against supermodel Ayyan Ali under money laundering charges on Wednesday the Special Customs Court of Rawalpindi declared the recovered amount of $506,800 from Ayyan Ali's luggage
Published 31 Mar, 2016 12:00am
Copper slips on uncertainty over US economy, China demand
Exchange

Copper slips on uncertainty over US economy, China demand

Copper dipped on Wednesday on persistent concerns over global economic growth and demand from top consumer China, although the fall was cushioned by a softer dollar as investors wound back their expectations for US interest rate rises.
Published 31 Mar, 2016 12:00am
$506,800 recovered from Ayyan declared her property

$506,800 recovered from Ayyan declared her property

Turning down the Customs department's plea to initiate criminal proceedings against supermodel Ayyan Ali under money laundering charges on Wednesday the Special Customs Court of Rawalpindi declared the recovered amount of $506,800 from Ayyan Ali's luggage
Published 31 Mar, 2016 12:00am
Oil settles flat, far off day's highs; US build weighs

Oil settles flat, far off day's highs; US build weighs

Oil prices settled steady on Wednesday, erasing most of the day's gains, after US government data showed crude inventories at all-time peaks again despite strong refinery runs. Crude stockpiles in the United States rose 2.3 million barrels last week, reac
Published 31 Mar, 2016 12:00am
Standardisation of Cheque Layout: SBP issues more Guidelines

Standardisation of Cheque Layout: SBP issues more Guidelines

State Bank of Pakistan (SBP) on Wednesday replying to queries issued more guidelines on Standardisation of Customers Cheque Layout. According to payment System Department (SBP), in order to address further queries of banks, Frequently Asked Questions (FAQ
Published 31 Mar, 2016 12:00am
Rubber rises
Exchange

Rubber rises

Benchmark Tokyo rubber futures edged higher on Wednesday, as short-covering wiped out losses in early afternoon linked to weaker Shanghai futures and a firmer yen. The Tokyo Commodity Exchange rubber contract for September delivery finished 0.6 yen, or 0.
Published 31 Mar, 2016 12:00am
Standardisation of Cheque Layout: SBP issues more Guidelines

Standardisation of Cheque Layout: SBP issues more Guidelines

State Bank of Pakistan (SBP) on Wednesday replying to queries issued more guidelines on Standardisation of Customers Cheque Layout. According to payment System Department (SBP), in order to address further queries of banks, Frequently Asked Questions (FAQ
Published 31 Mar, 2016 12:00am
Standardisation of Cheque Layout: SBP issues more Guidelines

Standardisation of Cheque Layout: SBP issues more Guidelines

State Bank of Pakistan (SBP) on Wednesday replying to queries issued more guidelines on Standardisation of Customers Cheque Layout. According to payment System Department (SBP), in order to address further queries of banks, Frequently Asked Questions (FAQ
Published 31 Mar, 2016 12:00am
NBP records 51 percent growth in profit

NBP records 51 percent growth in profit

The 67th Annual General Meeting of National Bank of Pakistan was held on Wednesday. The meeting was well attended by the shareholders. Chairman Muneer Kamal and President Syed Iqbal Ashraf also attended the meeting. The Board of Directors in its meeting h
Published 31 Mar, 2016 12:00am
Wheat climbs on threat from dry, chilly weather

Wheat climbs on threat from dry, chilly weather

Chicago wheat climbed on Tuesday to add to sharp gains a day earlier as the market assessed the risk of yield losses to US crops due to a combination of dry and cold weather. Corn finished stronger and touched a nearly two-month high, with traders digesti
Published 31 Mar, 2016 12:00am
NBP records 51 percent growth in profit

NBP records 51 percent growth in profit

The 67th Annual General Meeting of National Bank of Pakistan was held on Wednesday. The meeting was well attended by the shareholders. Chairman Muneer Kamal and President Syed Iqbal Ashraf also attended the meeting. The Board of Directors in its meeting h
Published 31 Mar, 2016 12:00am
Palm oil slips
Vegetable Oil

Palm oil slips

Malaysian palm oil futures dipped on Wednesday for their first fall after three straight days of gains, as the market weakened on a stronger ringgit. Palm oil has gained more than 8 percent so far this month, reaching a two-year high of 2,793 ringgit on T
Published 31 Mar, 2016 12:00am
NBP records 51 percent growth in profit

NBP records 51 percent growth in profit

The 67th Annual General Meeting of National Bank of Pakistan was held on Wednesday. The meeting was well attended by the shareholders. Chairman Muneer Kamal and President Syed Iqbal Ashraf also attended the meeting. The Board of Directors in its meeting h
Published 31 Mar, 2016 12:00am
Raw sugar, New York cocoa futures firm

Raw sugar, New York cocoa futures firm

Sugar and cocoa futures on ICE Futures US edged higher on Wednesday on a weaker US dollar, as arabica coffee futures declined on bearish technical signals. The dollar again retreated against a basket of currencies, supporting prices of greenback-based com
Published 31 Mar, 2016 12:00am
NBP records 51 percent growth in profit

NBP records 51 percent growth in profit

The 67th Annual General Meeting of National Bank of Pakistan was held on Wednesday. The meeting was well attended by the shareholders. Chairman Muneer Kamal and President Syed Iqbal Ashraf also attended the meeting. The Board of Directors in its meeting h
Published 31 Mar, 2016 12:00am
Gold jumps in New York

Gold jumps in New York

Gold jumped nearly 2 percent on Tuesday after comments from US Federal Reserve Chair Janet Yellen indicated the central bank's cautiousness in raising interest rates. Gold is highly sensitive to US monetary policy, as rising interest rates lift the opport
Published 31 Mar, 2016 12:00am
Interview withdrawn

Interview withdrawn

The story by Reuters on March 29 headlined "INTERVIEW-Pakistani property tycoon eyes media move to protect his name", is withdrawn. The story included a quote attributed to Malik Riaz Hussain about his relationship with Pakistan's army chief, General Rahe
Published 31 Mar, 2016 12:00am
Gold holds gains in Asia

Gold holds gains in Asia

Gold held on to sharp overnight gains on Wednesday, buoyed by a softer dollar and Federal Reserve chair Janet Yellen's remarks that the US central bank should be cautious in raising interest rates. Gold is highly sensitive to US monetary policy, as rising
Published 31 Mar, 2016 12:00am
Interview withdrawn

Interview withdrawn

The story by Reuters on March 29 headlined "INTERVIEW-Pakistani property tycoon eyes media move to protect his name", is withdrawn. The story included a quote attributed to Malik Riaz Hussain about his relationship with Pakistan's army chief, General Rahe
Published 31 Mar, 2016 12:00am
Gold falls in Europe
Exchange

Gold falls in Europe

Gold fell on Wednesday as a rally in assets seen as higher risk, such as equities, prompted some investors to cash in gains sparked the previous day by Fed chair Janet Yellen's cautious tone on further rate hikes. Yellen's signal that interest rates will
Published 31 Mar, 2016 12:00am
UN-backed Libya government told to leave after Tripoli arrival

UN-backed Libya government told to leave after Tripoli arrival

The head of Libya's UN-backed unity government arrived Wednesday in Tripoli, but international hopes of a peaceful power handover were dealt a swift blow as the unrecognised authorities demanded his departure. Fayez al-Sarraj, a businessman named prime mi
Published 31 Mar, 2016 12:00am
US MIDDAY: wheat drops

US MIDDAY: wheat drops

US wheat futures tumbled more than 2 percent early on Wednesday, erasing two sessions of gains, as forecasts for rain in some dry areas of the southern Plains eased concerns about reduced yields. Corn and soybeans also declined as traders adjusted positio
Published 31 Mar, 2016 12:00am
UN-backed Libya government told to leave after Tripoli arrival

UN-backed Libya government told to leave after Tripoli arrival

The head of Libya's UN-backed unity government arrived Wednesday in Tripoli, but international hopes of a peaceful power handover were dealt a swift blow as the unrecognised authorities demanded his departure. Fayez al-Sarraj, a businessman named prime mi
Published 31 Mar, 2016 12:00am
US MIDDAY: gold slides
Exchange

US MIDDAY: gold slides

Gold fell more than 1 percent early on Wednesday as a rally in assets seen as higher risk, such as equities, prompted some investors to cash in gains sparked the previous day by Fed chair Janet Yellen's cautious tone on further rate hikes.
Published 31 Mar, 2016 12:00am
Bangladesh court orders Khaleda Zia's arrest

Bangladesh court orders Khaleda Zia's arrest

A Bangladesh court on Wednesday issued an arrest warrant for opposition leader Khaleda Zia over a fire-bomb attack on a bus that killed two people and injured dozens last year, a prosecutor said. The Dhaka court accused Zia and 27 other leaders and offici
Published 31 Mar, 2016 12:00am
Bangladesh court orders Khaleda Zia's arrest

Bangladesh court orders Khaleda Zia's arrest

A Bangladesh court on Wednesday issued an arrest warrant for opposition leader Khaleda Zia over a fire-bomb attack on a bus that killed two people and injured dozens last year, a prosecutor said. The Dhaka court accused Zia and 27 other leaders and offici
Published 31 Mar, 2016 12:00am
Air China 2015 profit jumps 77.5 percent
Exchange

Air China 2015 profit jumps 77.5 percent

Air China Ltd, China's flagship airline, said on Wednesday its 2015 net profit jumped 77.5 percent, boosted by record low fuel prices and robust leisure and business travel demand. Net profit was 6.8 billion yuan ($1 billion), up from 3.8 billion yuan a y
Published 31 Mar, 2016 12:00am
China overcapacity darkens Asia''s 2016 growth prospects: ADB

China overcapacity darkens Asia''s 2016 growth prospects: ADB

Huge industrial overcapacity in China will drag on both the country''s and the region''s growth this year, the Asian Development Bank said Wednesday, cutting its forecast for the world''s second-largest economy. China''s GDP growth is expected to slow to
Published 31 Mar, 2016 12:00am
Air China 2015 profit jumps 77.5 percent
Exchange

Air China 2015 profit jumps 77.5 percent

Air China Ltd, China's flagship airline, said on Wednesday its 2015 net profit jumped 77.5 percent, boosted by record low fuel prices and robust leisure and business travel demand. Net profit was 6.8 billion yuan ($1 billion), up from 3.8 billion yuan a y
Published 31 Mar, 2016 12:00am
China overcapacity darkens Asia's 2016 growth prospects: ADB

China overcapacity darkens Asia's 2016 growth prospects: ADB

Huge industrial overcapacity in China will drag on both the country's and the region's growth this year, the Asian Development Bank said Wednesday, cutting its forecast for the world's second-largest economy. China's GDP growth is expected to slow to 6.5
Published 31 Mar, 2016 12:00am
China overcapacity darkens Asia's 2016 growth prospects: ADB

China overcapacity darkens Asia's 2016 growth prospects: ADB

Huge industrial overcapacity in China will drag on both the country's and the region's growth this year, the Asian Development Bank said Wednesday, cutting its forecast for the world's second-largest economy. China's GDP growth is expected to slow to 6.5
Published 31 Mar, 2016 12:00am
US, Hong Kong bust huge smuggling operation

US, Hong Kong bust huge smuggling operation

United States and Hong Kong authorities have smashed a massive operation smuggling Chinese-made clothing, believed to be the largest such find ever uncovered on the US West Coast. The elaborate scheme involved more than $600 million worth of Chinese-made
Published 31 Mar, 2016 12:00am
ADB projects 4.5 percent growth in fiscal year 2016
Currency

ADB projects 4.5 percent growth in fiscal year 2016

Asian Development Bank (ADB) has projected GDP growth for Pakistan at 4.5 percent in fiscal year-2016, assuming continued macroeconomic stability, expected improvement in energy supply, and planned infrastructure investment tied to an economic corridor pr
Published 31 Mar, 2016 12:00am
Chinese banks see slight profit rises as economy slows
Exchange

Chinese banks see slight profit rises as economy slows

Two of China's biggest banks on Wednesday announced slight increases in 2015 net profits, but warned of growing risks from bad loans as the world's second largest economy slows. The Industrial and Commercial Bank of China (ICBC) eked out a 0.48 percent ri
Published 31 Mar, 2016 12:00am
ADB projects 4.5 percent growth in fiscal year 2016
Currency

ADB projects 4.5 percent growth in fiscal year 2016

Asian Development Bank (ADB) has projected GDP growth for Pakistan at 4.5 percent in fiscal year-2016, assuming continued macroeconomic stability, expected improvement in energy supply, and planned infrastructure investment tied to an economic corridor pr
Published 31 Mar, 2016 12:00am
Chinese banks see slight profit rises as economy slows
Exchange

Chinese banks see slight profit rises as economy slows

Two of China's biggest banks on Wednesday announced slight increases in 2015 net profits, but warned of growing risks from bad loans as the world's second largest economy slows. The Industrial and Commercial Bank of China (ICBC) eked out a 0.48 percent ri
Published 31 Mar, 2016 12:00am
ADB projects 4.5 percent growth in fiscal year 2016
Currency

ADB projects 4.5 percent growth in fiscal year 2016

Asian Development Bank (ADB) has projected GDP growth for Pakistan at 4.5 percent in fiscal year-2016, assuming continued macroeconomic stability, expected improvement in energy supply, and planned infrastructure investment tied to an economic corridor pr
Published 31 Mar, 2016 12:00am
Tax-short Indonesia tells 23 banks to supply credit card charges

Tax-short Indonesia tells 23 banks to supply credit card charges

Indonesia's Finance Ministry, which faces a sizable revenue shortfall this year, on Wednesday instructed 23 banks to share data on their customers' credit card transactions with the tax office. A decree put on the ministry's website directed the banks to
Published 31 Mar, 2016 12:00am
Nuclear summit: Obama praises Prime Minister's decision to stay back

Nuclear summit: Obama praises Prime Minister's decision to stay back

US President Barack Obama Wednesday said that under the leadership of Prime Minister Nawaz Sharif Pakistan had shown great progress in the war against terrorism. President Obama, who phoned the Prime Minister to extend condolences on the Lahore tragedy, s
Published 31 Mar, 2016 12:00am
France's EDF stands by UK nuclear plant timetable

France's EDF stands by UK nuclear plant timetable

French power company EDF said on Wednesday that it is not planning any delay in the construction of the controversial Hinkley Point nuclear plant which is to go onstream in 2025.
Published 31 Mar, 2016 12:00am
Nuclear summit: Obama praises Prime Minister's decision to stay back

Nuclear summit: Obama praises Prime Minister's decision to stay back

US President Barack Obama Wednesday said that under the leadership of Prime Minister Nawaz Sharif Pakistan had shown great progress in the war against terrorism. President Obama, who phoned the Prime Minister to extend condolences on the Lahore tragedy, s
Published 31 Mar, 2016 12:00am
No written agreement with protesters: Nisar

No written agreement with protesters: Nisar

Federal Interior Minister Nisar Ali said on Wednesday the government had not inked any agreement with protesters staging a sit-in in front of Parliament House to disperse them peacefully. Addressing a news conference here, he said some religious clerics h
Published 31 Mar, 2016 12:00am
German inflation turns positive in March

German inflation turns positive in March

Germany's annual inflation turned positive in March, suggesting the European Central Bank's expansive monetary policy is gaining traction even though some of the rise was caused by hoteliers and retailers raising prices for the early Easter holiday.
Published 31 Mar, 2016 12:00am
No written agreement with protesters: Nisar

No written agreement with protesters: Nisar

Federal Interior Minister Nisar Ali said on Wednesday the government had not inked any agreement with protesters staging a sit-in in front of Parliament House to disperse them peacefully. Addressing a news conference here, he said some religious clerics h
Published 31 Mar, 2016 12:00am
India sets rules for foreign investment in e-commerce sites

India sets rules for foreign investment in e-commerce sites

India has set rules for foreign investment in online marketplaces, allowing up to 100 percent overseas ownership and providing much-needed clarity as billions of dollars pour into the country's fast-growing e-commerce sector.
Published 31 Mar, 2016 12:00am
Government has accepted our demands: cleric

Government has accepted our demands: cleric

Ashraf Asif Jalali, one of the protest's main leaders, told reporters at the protest site Wednesday evening: "As a result of the continuous four-day sit-in, the government has accepted our demands." "Nobody involved in blasphemy against the Holy Prophet (
Published 31 Mar, 2016 12:00am
China pledges to step up credit support for consumers

China pledges to step up credit support for consumers

China's central bank has urged lenders to step up financing support for consumers in some areas and develop new credit products, in its latest effort to support a slowing economy.
Published 31 Mar, 2016 12:00am
Government has accepted our demands: cleric

Government has accepted our demands: cleric

Ashraf Asif Jalali, one of the protest's main leaders, told reporters at the protest site Wednesday evening: "As a result of the continuous four-day sit-in, the government has accepted our demands." "Nobody involved in blasphemy against the Holy Prophet (
Published 31 Mar, 2016 12:00am
Four-day sit-in ends with deal

Four-day sit-in ends with deal

The four-day long sit-in by supporters of Mumtaz Qadri, came to an end on Wednesday after government gave them a safe passage under the pretext of accepting some of their demands. Despite repeated warnings by the administration, the clerics remained stead
Published 31 Mar, 2016 12:00am
Four-day sit-in ends with deal

Four-day sit-in ends with deal

The four-day long sit-in by supporters of Mumtaz Qadri, came to an end on Wednesday after government gave them a safe passage under the pretext of accepting some of their demands. Despite repeated warnings by the administration, the clerics remained stead
Published 31 Mar, 2016 12:00am
Brexit will hurt world economy

Brexit will hurt world economy

If Britain exits the European Union it will have a negative impact on the British, European and world economies, US Treasury Secretary Jacob Lew warned Tuesday.
Published 31 Mar, 2016 12:00am
BRIndex30 up 43.95 points

BRIndex30 up 43.95 points

On Wednesday, BRIndex30 opened at 20,582.51 points. It touched an intraday high of 20,663.78 and an intraday low of 20,538.29 points and closed at 20,626.46 points which was 43.95 points or 0.21 percent higher than previous close. Total volume was 71,442,
Published 31 Mar, 2016 12:00am
BRIndex30 up 43.95 points

BRIndex30 up 43.95 points

On Wednesday, BRIndex30 opened at 20,582.51 points. It touched an intraday high of 20,663.78 and an intraday low of 20,538.29 points and closed at 20,626.46 points which was 43.95 points or 0.21 percent higher than previous close. Total volume was 71,442,
Published 31 Mar, 2016 12:00am
Stocks rangebound
Exchange

Stocks rangebound

Pakistan Stock Exchange (PSX) witnessed a slight recovery on Wednesday and the benchmark KSE-100 index gained 43 points to close at 32,922 points compared to 32,879 points Tuesday. Ahsan Mehanti, Director at Arif Habib said positive close was witnessed at
Published 31 Mar, 2016 12:00am
EU bonus cap has not dented financial stability: watchdog

EU bonus cap has not dented financial stability: watchdog

A cap on banker bonuses in the European Union has not undermined financial stability or made it harder for lenders to control costs, the bloc's banking watchdog said on Wednesday in a rebuttal of UK arguments against the pay curb.
Published 31 Mar, 2016 12:00am
Stocks rangebound
Exchange

Stocks rangebound

Pakistan Stock Exchange (PSX) witnessed a slight recovery on Wednesday and the benchmark KSE-100 index gained 43 points to close at 32,922 points compared to 32,879 points Tuesday. Ahsan Mehanti, Director at Arif Habib said positive close was witnessed at
Published 31 Mar, 2016 12:00am
Companies in US add 200,000 jobs in March: ADP

Companies in US add 200,000 jobs in March: ADP

Companies in the United States continued to add a solid number of jobs in March, increasing payrolls by 200,000 as the labour market improves, payroll firm ADP reported Wednesday.
Published 31 Mar, 2016 12:00am
Stocks rangebound
Exchange

Stocks rangebound

Pakistan Stock Exchange (PSX) witnessed a slight recovery on Wednesday and the benchmark KSE-100 index gained 43 points to close at 32,922 points compared to 32,879 points Tuesday. Ahsan Mehanti, Director at Arif Habib said positive close was witnessed at
Published 31 Mar, 2016 12:00am
Middle East markets mixed, money flows to UAE

Middle East markets mixed, money flows to UAE

Middle East stock markets were mixed on Wednesday as money flowed into bourses in the United Arab Emirates but many markets dropped in shrinking volumes, suggesting some investors were pulling out.
Published 31 Mar, 2016 12:00am
Foxconn agrees to buy Sharp after slashing original offer

Foxconn agrees to buy Sharp after slashing original offer

Taiwan''''s Foxconn agreed to acquire Japan''''s Sharp Corp at a big discount to its original offer, capping a month of wrangling that sowed more doubt over whether the two companies can work well together and fend off fierce competition from rivals. Foxc
Published 31 Mar, 2016 12:00am
Australian shares steady, NZ shares hit new record

Australian shares steady, NZ shares hit new record

Australian shares ended up 0.1 percent on Wednesday, having earlier plumbed a one-month low, but recaptured the 5000-point marker as sentiment steadied following comments by the Federal Reserve chair.
Published 31 Mar, 2016 12:00am
Foxconn agrees to buy Sharp after slashing original offer

Foxconn agrees to buy Sharp after slashing original offer

Taiwan''s Foxconn agreed to acquire Japan''s Sharp Corp at a big discount to its original offer, capping a month of wrangling that sowed more doubt over whether the two companies can work well together and fend off fierce competition from rivals. Foxconn,
Published 31 Mar, 2016 12:00am
China stocks higher on Fed comments

China stocks higher on Fed comments

China stocks enjoyed their best day in a month, with main indexes jumping more than 2 percent, as the mainland market joined a global rally after US Federal Reserve remarks hosed down expectations of imminent interest rate hikes.
Published 31 Mar, 2016 12:00am
Foxconn agrees to buy Sharp after slashing original offer

Foxconn agrees to buy Sharp after slashing original offer

Taiwan's Foxconn agreed to acquire Japan's Sharp Corp at a big discount to its original offer, capping a month of wrangling that sowed more doubt over whether the two companies can work well together and fend off fierce competition from rivals. Foxconn, f
Published 31 Mar, 2016 12:00am
Wednesday's midday trade: stocks pare some gains as oil retreats

Wednesday's midday trade: stocks pare some gains as oil retreats

US stocks rose on Wednesday, a day after Federal Reserve Chair Janet Yellen's comments eased some concerns about the path of interest rate hikes, but gains were limited by a dip in crude oil prices. Oil prices retreated from their day's highs after a repo
Published 31 Mar, 2016 12:00am
Foxconn agrees to buy Sharp after slashing original offer

Foxconn agrees to buy Sharp after slashing original offer

Taiwan's Foxconn agreed to acquire Japan's Sharp Corp at a big discount to its original offer, capping a month of wrangling that sowed more doubt over whether the two companies can work well together and fend off fierce competition from rivals. Foxconn, f
Published 31 Mar, 2016 12:00am
Wall Street hits 2016 high after Yellen delivers
Exchange

Wall Street hits 2016 high after Yellen delivers

The S&P 500 closed at its highest in 2016 on Tuesday after Federal Reserve Chair Janet Yellen called for caution on raising interest rates - music to Wall Street's ears. In her first comments since the Fed held steady on rates earlier this month, Yellen s
Published 31 Mar, 2016 12:00am
Government doesn''t want to privatise PIA: minister

Government doesn''t want to privatise PIA: minister

Finance Minister Ishaq Dar has reportedly assured parliamentary committee of joint sitting that the government does not want to privatise Pakistan International Airlines (PIA) but wants divestment of its share. Sources in the Finance Ministry told Busi
Published 31 Mar, 2016 12:00am
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