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May 12, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-04-29
VMware results, forecast boosted by strong sales of newer software

VMware results, forecast boosted by strong sales of newer software

VMware Inc reported a better-than-expected rise in quarterly revenue, helped by strong sales of its newer virtualization software, and the company also said it would buy back $1.2 billion of its Class A stock this year. Strong acceptance of its newer offe
Published 29 Apr, 2016 12:00am
Zoomlion, bidding for Terex, says 2015 earnings hit 15-year low
Exchange

Zoomlion, bidding for Terex, says 2015 earnings hit 15-year low

China's Zoomlion Heavy Industry Science and Technology Co Ltd , which is bidding to buy US crane maker Terex Corp for about $3.4 billion, on Wednesday reported its lowest annual profit in 15 years. Net income dropped 85 percent to 89 million yuan ($13.74
Published 29 Apr, 2016 12:00am
Zoomlion, bidding for Terex, says 2015 earnings hit 15-year low
Exchange

Zoomlion, bidding for Terex, says 2015 earnings hit 15-year low

China's Zoomlion Heavy Industry Science and Technology Co Ltd , which is bidding to buy US crane maker Terex Corp for about $3.4 billion, on Wednesday reported its lowest annual profit in 15 years. Net income dropped 85 percent to 89 million yuan ($13.74
Published 29 Apr, 2016 12:00am
Time right for EBRD's first east European chief, says Belka

Time right for EBRD's first east European chief, says Belka

It is high time for an east European to run the European Bank for Reconstruction and Development (EBRD) after its 25 years of work in the ex-Soviet bloc, Polish central bank head and former prime minister Marek Belka said on Thursday. Belka hopes to repla
Published 29 Apr, 2016 12:00am
Stronger China March industrial profits add to economic recovery hopes

Stronger China March industrial profits add to economic recovery hopes

Profits earned by Chinese industrial companies rose 11.1 percent in March from a year earlier, adding to signs that the country's economic slowdown may be bottoming out. Industrial profits rose to 561.24 billion yuan ($86.50 billion) in March, the Nationa
Published 29 Apr, 2016 12:00am
Fluxys drops out of bidding for stake in Greek gas grid operator

Fluxys drops out of bidding for stake in Greek gas grid operator

Belgium's Fluxys has dropped plans to acquire a stake in Greece's natural gas grid operator from Azerbaijan's state-owned energy company, the head of the Azeri company confirmed on Saturday. The Azeri company, SOCAR, agreed in 2013 to buy a 66 percent sta
Published 29 Apr, 2016 12:00am
French households wary of Hollande's 'going better' claim

French households wary of Hollande's 'going better' claim

If France's latest consumer confidence figures are anything to go by, President Francois Hollande is failing to convince voters that the economy is turning the corner as decisively as the deeply unpopular leader says it is. A year away from a presidential
Published 29 Apr, 2016 12:00am
Ukraine central bank gets tough with owners of private banks

Ukraine central bank gets tough with owners of private banks

Ukraine will closely track assets belonging to owners of banks to stop the offering of sweetheart loans to shareholders - a practice that helped bankrupt 40 percent of the banking sector, a deputy governor of the central bank said. So far the regulator ha
Published 29 Apr, 2016 12:00am
German government sees economy growing by 1.7 percent in 2016

German government sees economy growing by 1.7 percent in 2016

The German government is pencilling in economic growth of 1.7 percent for the current year and 1.5 percent next year, economy minister Sigmar Gabriel said on Wednesday. The forecast for 2016 growth of Germany's gross domestic product (GDP) is therefore un
Published 29 Apr, 2016 12:00am
VMware results, forecast boosted by strong sales of newer software

VMware results, forecast boosted by strong sales of newer software

VMware Inc reported a better-than-expected rise in quarterly revenue, helped by strong sales of its newer virtualization software, and the company also said it would buy back $1.2 billion of its Class A stock this year. Strong acceptance of its newer offe
Published 29 Apr, 2016 12:00am
Ukraine nearly doubles consumer gas prices to secure IMF aid

Ukraine nearly doubles consumer gas prices to secure IMF aid

Urkaine's cash-strapped government on Wednesday nearly doubled average household gas tariffs in order to secure the release of billions of dollars in frozen IMF and other Western aid. The long-delayed step is likely to play poorly with people who have alr
Published 29 Apr, 2016 12:00am
Taiwan March export orders fall again, but silver lining seen

Taiwan March export orders fall again, but silver lining seen

Taiwan's export orders fell for the 12th month in a row in March but growth in electronics and a slower pace of decline in key markets provided a ray of hope for the island's manufacturers. March export orders fell 4.7 percent from a year earlier, its nar
Published 29 Apr, 2016 12:00am
Norwegian Air eyes more Boeing Dreamliners for new transatlantic flights

Norwegian Air eyes more Boeing Dreamliners for new transatlantic flights

Norwegian Air Shuttle will need to order more long-haul planes, with Boeing's Dreamliners the likeliest option, once its Irish subsidiary wins US approval to fly transatlantic routes, its CEO told Reuters on Monday. The US Department of Transportation sai
Published 29 Apr, 2016 12:00am
Russia won't rush with structural reforms: Prime Minister

Russia won't rush with structural reforms: Prime Minister

Russia needs economic reforms but should not rush them through, Prime Minister Dmitry Medvedev said on Tuesday, balancing reassuring words for business with promises to ease the economic pain for ordinary people. Many economists and investors argue that R
Published 29 Apr, 2016 12:00am
Romania's biggest power producer to exit insolvency by May
Exchange

Romania's biggest power producer to exit insolvency by May

Romanian state-owned power producer Hidroelectrica expects to finally exit its insolvency process by next month, and aims to sell a minority stake in an initial public offering by November, its manager told Reuters on Sunday. Romania's largest and cheapes
Published 29 Apr, 2016 12:00am
Saudi food group Savola cuts dividend after Q1 profit fall
Exchange

Saudi food group Savola cuts dividend after Q1 profit fall

Saudi food producer Savola Group , the country's largest food products company, slashed its dividend after reporting a 80.3 percent fall in first-quarter net profits, missing analysts' forecasts. It is the latest Saudi retailer to report poor earnings for
Published 29 Apr, 2016 12:00am
Saudi food group Savola cuts dividend after Q1 profit fall
Exchange

Saudi food group Savola cuts dividend after Q1 profit fall

Saudi food producer Savola Group , the country's largest food products company, slashed its dividend after reporting a 80.3 percent fall in first-quarter net profits, missing analysts' forecasts. It is the latest Saudi retailer to report poor earnings for
Published 29 Apr, 2016 12:00am
Swatch sees 2016 sales growth above five percent
Exchange

Swatch sees 2016 sales growth above five percent

Swiss watchmaker Swatch Group forecast 2016 sales growth will be well over 5 percent in local currency after reporting 2015 net profit fell 21 percent to 1.12 billion Swiss francs ($1.10 billion), hit by foreign exchange losses. Net sales slipped 0.9 perc
Published 29 Apr, 2016 12:00am
Swatch sees 2016 sales growth above five percent
Exchange

Swatch sees 2016 sales growth above five percent

Swiss watchmaker Swatch Group forecast 2016 sales growth will be well over 5 percent in local currency after reporting 2015 net profit fell 21 percent to 1.12 billion Swiss francs ($1.10 billion), hit by foreign exchange losses. Net sales slipped 0.9 perc
Published 29 Apr, 2016 12:00am
Wipro profit drops

Wipro profit drops

Wipro Ltd, India's third-largest software services exporter, reported a larger-than-expected decline in fourth-quarter profit on weakness in its financial and healthcare services business and declining margins. The Bengaluru-based company has lagged large
Published 29 Apr, 2016 12:00am
Swedish economy charges ahead while neighbours stall
Exchange

Swedish economy charges ahead while neighbours stall

Sweden's economic boom will continue in 2016, allowing it to row three to four times faster than those of Scandinavian peers Denmark and Norway, a Reuters poll showed on Wednesday, with economists raising their Swedish forecast. Oil-producing Norway has b
Published 29 Apr, 2016 12:00am
Germans flock to property as interest rates fall and rents rise

Germans flock to property as interest rates fall and rents rise

Unlike his parents who rented their whole life, Berlin resident Sebastian lives in his own apartment and is considering buying a second property in the German capital as an investment to top up his pension one day. For decades a nation largely of tenants
Published 29 Apr, 2016 12:00am
Sugar falls after record Brazil crush

Sugar falls after record Brazil crush

Raw sugar on ICE extended losses on Thursday after data from top grower Brazil showed a record cane crush for the first half of April, while the May/July discount widened sharply to a contract low ahead of expiry on Friday. Arabica coffee inched down to a
Published 29 Apr, 2016 12:00am
The Weather

The Weather

The weather report on Thursday (April 28, 2016) and the forecast for Friday (April 29, 2016).

Published 29 Apr, 2016 12:00am
Gold reverses losses in Asia

Gold reverses losses in Asia

Gold reversed losses to climb to its highest level in a week on Thursday, as the US dollar slumped more than 2 percent against the yen after the Bank of Japan surprised markets by keeping monetary policy steady. At a two-day rate review ending on Thursday
Published 29 Apr, 2016 12:00am
Gold pares gains in New York

Gold pares gains in New York

Gold rose for a third straight session on Wednesday, but pared gains after the US Federal Reserve held interest rates unchanged but left the door ajar to a hike in June. The US central bank's policy-setting committee said the labour market had improved fu
Published 29 Apr, 2016 12:00am
Gold rises in Europe
Currency

Gold rises in Europe

Gold rose 1 percent on Thursday as the Bank of Japan held off from expanding monetary stimulus, boosting the yen versus the dollar, and after the Federal Reserve signalled that it was in no rush to tighten monetary policy. The Fed left interest rates unch
Published 29 Apr, 2016 12:00am
Corn, soya and wheat surge

Corn, soya and wheat surge

US corn, soyabean and wheat futures rallied sharply on Thursday, fuelled by signs of strong export demand, traders said. Concern about crops in South America sparked interest in US supplies from overseas buyers, who typically source the bulk of their corn
Published 29 Apr, 2016 12:00am
US MIDDAY: gold climbs
Currency

US MIDDAY: gold climbs

Gold rose more than 1 percent on Thursday as the Bank of Japan held off from expanding monetary stimulus, boosting the yen versus the US dollar, and after the Federal Reserve signalled it was in no rush to tighten monetary policy. The Fed left interest ra
Published 29 Apr, 2016 12:00am
India calls on developed world to tax coal for climate fund

India calls on developed world to tax coal for climate fund

Developed countries should raise taxes on coal production to help raise money for a $100 billion-a-year fund that is supposed to help poorer countries tackle climate change but are short of cash, India's environment minister said on Wednesday. An agreemen
Published 29 Apr, 2016 12:00am
Battered Ecuador faces huge economic toll after quake

Battered Ecuador faces huge economic toll after quake

Touring a city ravaged by the earthquake that killed 366 people, Ecuadorean President Rafael Correa on Monday contemplated a rebuilding costing billions of dollars and a potentially "huge" impact on the fragile Opec economy. But the traumatized survivors
Published 29 Apr, 2016 12:00am
Battered Ecuador faces huge economic toll after quake

Battered Ecuador faces huge economic toll after quake

Touring a city ravaged by the earthquake that killed 366 people, Ecuadorean President Rafael Correa on Monday contemplated a rebuilding costing billions of dollars and a potentially "huge" impact on the fragile Opec economy. But the traumatized survivors
Published 29 Apr, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (April 28, 2016).

Published 29 Apr, 2016 12:00am
Brexit-fearing banks make inquiries about move to Paris

Brexit-fearing banks make inquiries about move to Paris

Foreign banks are making inquiries about moving to France if Britain leaves the European Union, according financial industry group Paris Europlace, which is busy lobbying the French government for tax breaks to boost the attractiveness of Paris. Four year
Published 29 Apr, 2016 12:00am
Detroit's Big Three report higher March sales in Canada

Detroit's Big Three report higher March sales in Canada

Detroit's Big Three automakers on Friday reported higher March and first-quarter auto sales in Canada, as forecasters expect Canadian demand this year for vehicles and trucks to exceed that of record-breaking 2015. General Motors Co and Ford Motor Co repo
Published 29 Apr, 2016 12:00am
Creditors in China's Bohai Steel extend loan period in new revamp

Creditors in China's Bohai Steel extend loan period in new revamp

Creditors in China's Bohai Steel Group have agreed to extend the maturity of their loans and lower the interest rates under a second restructuring plan for the troubled steelmaker, according to financial magazine Caixin on Sunday. Bohai Steel, based in no
Published 29 Apr, 2016 12:00am
Germany's Next Kraftwerke expands virtual power plant model
Exchange

Germany's Next Kraftwerke expands virtual power plant model

Next Kraftwerke, a German virtual power plant (VPP) operator, is reaping benefits from increasingly green electricity markets in Europe where it aggregates small producers and sells their output in lucrative "balancing" markets. The company's co-founder J
Published 29 Apr, 2016 12:00am
Argentina jobs recovery to start in August

Argentina jobs recovery to start in August

Argentina's economy should start adding jobs in August, as the country's return to global credit markets after a record 2002 default promises to boost foreign investment and public works, the labour minister said on Tuesday. "In the second half of the yea
Published 29 Apr, 2016 12:00am
German experts develop new method for predicting India's monsoon
Cotton

German experts develop new method for predicting India's monsoon

Climate researchers in Germany said Wednesday they had found a way to more accurately predict the Indian monsoon, which could help maximise the subcontinent's food and hydro-power supplies. Improved forecasts of when the heavy summer rains start and end c
Published 29 Apr, 2016 12:00am
Russia to sell part of diamond giant Alrosa
Exchange

Russia to sell part of diamond giant Alrosa

Russia will seek to sell off 10.9 percent of diamond exporter Alrosa as it presses its bid to prop up the ruble amid slumping oil prices, a report said Wednesday. The Russian government in December last year ordered state-controlled exporters to sell part
Published 29 Apr, 2016 12:00am
Sweden clamps down on favourable sub debt tax treatment

Sweden clamps down on favourable sub debt tax treatment

Swedish banks are expected to fight government plans to clamp down on the favourable tax treatment of subordinated debt, which threaten to push up the cost of issuing and servicing regulatory capital. Finance minister Magdalena Andersson outlined proposal
Published 29 Apr, 2016 12:00am
Senate body given a reality check

Senate body given a reality check

This is apropos "1992 law major obstacle: Senate body given a reality check" carried by Business Recorder yesterday. According to it, Senate Standing Committee on Finance observed that it would be extremely difficult to prove wrongdoings in the pres
Published 29 Apr, 2016 12:00am
Ireland fears major impact if Britain votes to leave EU

Ireland fears major impact if Britain votes to leave EU

Irish exporters, British-based Irish citizens and the Irish government all worry that a Brexit, or British exit from the EU, could harm their interests and jolt the country's economy. With its close political, trade and cultural links to its nearest neigh
Published 29 Apr, 2016 12:00am
Guilty until proven innocent

Guilty until proven innocent

Instead of taking the high road, using the opportunity to deal pragmatically with the "Panama Leaks" explaining how and why his family's offshore companies and accounts thereof had come into existence, PM Mian Nawaz Sharif (MNS) seriously disappointed the
Published 29 Apr, 2016 12:00am
FS talks go nowhere

FS talks go nowhere

Yadav Kulbhoshan's admission that Raw promotes subversion in Balochistan being the stunning backdrop at least as of now India is reluctant to resume bilateral talks with Pakistan. We hope it would get over this inhibition sooner than later, but the talks
Published 29 Apr, 2016 12:00am
Tax proposals for Budget 2016-17 Need for new tax model

Tax proposals for Budget 2016-17 Need for new tax model

These days, Federal Board of Revenue (FBR) is reportedly consulting (sic) all the stakeholders to consider only such proposals that can increase "revenues" (hopefully for the State) in the coming fiscal year. This ritualistic exercise every year brings mo
Published 29 Apr, 2016 12:00am
Ghani's unacceptable bluster

Ghani's unacceptable bluster

The three-member Afghan Taliban team from the political office in Qatar has not come for peace talks in framework of Quadrilateral Co-ordination Group; it is here in compliance with the order of their chief Mullah Akhtar Mansour and their visit is 'in the
Published 29 Apr, 2016 12:00am
BOARD MEETINGS
Exchange

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 29 Apr, 2016 12:00am
Comcast to buy DreamWorks Animation for $3.8 billion

Comcast to buy DreamWorks Animation for $3.8 billion

DreamWorks Animation, the studio behind family blockbusters "Kung Fu Panda" and the Oscar-winning "Shrek," is being snapped up by US entertainment and cable giant Comcast in a $3.8 billion deal announced Thursday. Originally part of the DreamWorks group c
Published 29 Apr, 2016 12:00am
Board Meetings
Exchange

Board Meetings

Board Meetings of Companies listed on the Pakistan Stock Exchange.

Published 29 Apr, 2016 12:00am
Comcast to buy DreamWorks Animation for $3.8 billion

Comcast to buy DreamWorks Animation for $3.8 billion

DreamWorks Animation, the studio behind family blockbusters "Kung Fu Panda" and the Oscar-winning "Shrek," is being snapped up by US entertainment and cable giant Comcast in a $3.8 billion deal announced Thursday. Originally part of the DreamWorks group c
Published 29 Apr, 2016 12:00am
KP government not to ban 'Maalik'

KP government not to ban 'Maalik'

The Khyber Pakhtunkhwa Information Advisor Mushtaq Ghani has said that the provincial government would not slap a ban on film Maalik in the province. Ghani said that the film would be screened across the province as the KP has its own film censor board. T
Published 29 Apr, 2016 12:00am
KP government not to ban 'Maalik'

KP government not to ban 'Maalik'

The Khyber Pakhtunkhwa Information Advisor Mushtaq Ghani has said that the provincial government would not slap a ban on film Maalik in the province. Ghani said that the film would be screened across the province as the KP has its own film censor board. T
Published 29 Apr, 2016 12:00am
Comcast to buy DreamWorks Animation for $3.8 billion

Comcast to buy DreamWorks Animation for $3.8 billion

DreamWorks Animation, the studio behind family blockbusters "Kung Fu Panda" and the Oscar-winning "Shrek," is being snapped up by US entertainment and cable giant Comcast in a $3.8 billion deal announced Thursday. Originally part of the DreamWorks group c
Published 29 Apr, 2016 12:00am
Accord signed to establish PMIC

Accord signed to establish PMIC

Pakistan Poverty Alleviation Fund (PPAF), Karandaaz Pakistan (funded by UK''s Department for International Development) and Germany''s Kreditanstaltfür Wiederaufbau (KfW) here on Thursday signed the Shareholders'' Agreement for the establishment of Pakist
Published 29 Apr, 2016 12:00am
Budget 2016-17: Corporate tax to be reduced by one percent

Budget 2016-17: Corporate tax to be reduced by one percent

Corporate tax is going to be reduced by one percent in budget 2016-17, a top FBR official said here on Thursday. Speaking at a pre-budget seminar organised by the Karachi Tax Bar Association (KTBA) held at RTO auditorium, Rehmatullah Wazir, Member Inland
Published 29 Apr, 2016 12:00am
Budget 2016-17: Corporate tax to be reduced by one percent

Budget 2016-17: Corporate tax to be reduced by one percent

Corporate tax is going to be reduced by one percent in budget 2016-17, a top FBR official said here on Thursday. Speaking at a pre-budget seminar organised by the Karachi Tax Bar Association (KTBA) held at RTO auditorium, Rehmatullah Wazir, Member Inland
Published 29 Apr, 2016 12:00am
Budget 2016-17: Corporate tax to be reduced by one percent

Budget 2016-17: Corporate tax to be reduced by one percent

Corporate tax is going to be reduced by one percent in budget 2016-17, a top FBR official said here on Thursday. Speaking at a pre-budget seminar organised by the Karachi Tax Bar Association (KTBA) held at RTO auditorium, Rehmatullah Wazir, Member Inland
Published 29 Apr, 2016 12:00am
July-March services trade deficit down seven percent

July-March services trade deficit down seven percent

Services trade deficit fell by 7 percent during the first nine months of this fiscal year (FY16) supported by lower imports. Economists said despite a massive decline in Coalition Support Fund (CSF) inflows, services trade has performed well as its defici
Published 29 Apr, 2016 12:00am
July-March services trade deficit down seven percent

July-March services trade deficit down seven percent

Services trade deficit fell by 7 percent during the first nine months of this fiscal year (FY16) supported by lower imports. Economists said despite a massive decline in Coalition Support Fund (CSF) inflows, services trade has performed well as its defici
Published 29 Apr, 2016 12:00am
July-March services trade deficit down seven percent

July-March services trade deficit down seven percent

Services trade deficit fell by 7 percent during the first nine months of this fiscal year (FY16) supported by lower imports. Economists said despite a massive decline in Coalition Support Fund (CSF) inflows, services trade has performed well as its defici
Published 29 Apr, 2016 12:00am
PAC orders probe into unauthorised procurement of cellphones

PAC orders probe into unauthorised procurement of cellphones

The Public Accounts Committee (PAC) on Thursday ordered a thorough investigation into unauthorised procurement of cell-phone sets worth Rs 90 millions in 2012 during the tenure of Syed Khursheed Shah, the then federal minister for religious affairs. The c
Published 29 Apr, 2016 12:00am
PAC orders probe into unauthorised procurement of cellphones

PAC orders probe into unauthorised procurement of cellphones

The Public Accounts Committee (PAC) on Thursday ordered a thorough investigation into unauthorised procurement of cell-phone sets worth Rs 90 millions in 2012 during the tenure of Syed Khursheed Shah, the then federal minister for religious affairs. The c
Published 29 Apr, 2016 12:00am
PAC orders probe into unauthorised procurement of cellphones

PAC orders probe into unauthorised procurement of cellphones

The Public Accounts Committee (PAC) on Thursday ordered a thorough investigation into unauthorised procurement of cell-phone sets worth Rs 90 millions in 2012 during the tenure of Syed Khursheed Shah, the then federal minister for religious affairs. The c
Published 29 Apr, 2016 12:00am
Comcast to buy DreamWorks Animation for $3.8 billion

Comcast to buy DreamWorks Animation for $3.8 billion

DreamWorks Animation, the studio behind family blockbusters "Kung Fu Panda" and the Oscar-winning "Shrek," is being snapped up by US entertainment and cable giant Comcast in a $3.8 billion deal announced Thursday. Originally part of the DreamWorks group c
Published 29 Apr, 2016 12:00am
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