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Jan 31, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-04-30
Fertilizer plants to pay less: Ogra raises gas prices for power plants

Fertilizer plants to pay less: Ogra raises gas prices for power plants

The Oil and Gas Regulatory Authority (Ogra) has reduced gas prices for fertilizer plants and increased prices for power producers, a notification issued by the authority said. According to the notification, the regulator has increased gas prices for power
Published 30 Apr, 2016 12:00am
KP PA declines to accept alleged murderer as legislator

KP PA declines to accept alleged murderer as legislator

Members of Khyber Pakhtunkhwa Assembly Friday vowed not to accept Baldev Kumar, the alleged murderer of PTI legislator Sardar Soran Singh as member of the provincial assembly and threatened boycott the administering of his oath in the house. The members o
Published 30 Apr, 2016 12:00am
PPA opposes proposed sales tax on poultry feed

PPA opposes proposed sales tax on poultry feed

A government proposed sales tax on poultry feed and its ingredients has come under attack by the Pakistan Poultry Association which has said it should never be imposed to save the industry from the same disaster it faced in the late 1990s. Association Cha
Published 30 Apr, 2016 12:00am
ICE cotton edges lower on poor export sales data
Cotton

ICE cotton edges lower on poor export sales data

Cotton futures settled down slightly lower on Thursday after disappointing US government data on weekly export sales. The data showed sales of upland cotton totaled 48,700 running bales for the week ending April 22, touching a marketing-year low for 2015/
Published 30 Apr, 2016 12:00am
Brazil crushes record cane in early start to bumper crop
Exchange

Brazil crushes record cane in early start to bumper crop

Brazil's main cane belt produced a record amount of sugar in an early start to the harvest season, industry association Unica said, sending prices lower in New York despite expectations of a global deficit in the sweetener this year. In its first forecast
Published 30 Apr, 2016 12:00am
Shanghai copper rise to 38,320 yuan

Shanghai copper rise to 38,320 yuan

Shanghai copper may break a resistance at 37,820 yuan per tonne and rise towards the next resistance at 38,320 yuan, as suggested by a Fibonacci projection analysis. The analysis is based on the uptrend from the April 12 low of 35,600 yuan to the April 25
Published 30 Apr, 2016 12:00am
Aluminium hits nine-month high
Exchange

Aluminium hits nine-month high

Aluminium hit a nine-month peak on Friday as speculators pushed prices higher thanks to a weaker dollar, but analysts were wary about a possible retreat. Copper and other industrial metals also clawed higher ahead of new economic data in China that invest
Published 30 Apr, 2016 12:00am
Oil ends steady near $50; best monthly gain in Brent in 7 years

Oil ends steady near $50; best monthly gain in Brent in 7 years

Oil prices ended steady on Friday after hitting 2016 highs but finished April trading about 20 percent higher, with Brent crude having its best monthly gain in seven years. A weaker dollar and optimism that a global oil glut will ease have lifted crude fu
Published 30 Apr, 2016 12:00am
Global coffee exports rise 1.0 percent in March

Global coffee exports rise 1.0 percent in March

Global coffee exports rose 1.0 percent in March from the same month a year earlier to total 10.39 million 60-kg bags, the International Coffee Organisation (ICO) said on Friday. For the first six months of the 2015/16 season, which began on October 1 last
Published 30 Apr, 2016 12:00am
Corn rallies on export demand; soy falls

Corn rallies on export demand; soy falls

US corn futures rose 1.9 percent on Thursday, with concerns about crops in South America spurring export demand for US supplies, traders said. Soybean futures closed lower despite strong exports, with traders locking in profits after prices rallied to the
Published 30 Apr, 2016 12:00am
Palm hits seven-week low on sluggish exports
Exchange

Palm hits seven-week low on sluggish exports

Malaysian palm oil futures declined on Friday to a new seven-week low, as palm exports slow due to stronger demand for rival soyoil. The palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange fell 0.4 percent to 2,593 ringgit ($664
Published 30 Apr, 2016 12:00am
Gold rises one percent in Asian trade

Gold rises one percent in Asian trade

Gold jumped to a seven-week high and silver soared to a 15-month peak on Friday, as the dollar remained downbeat after the Bank of Japan surprised markets by standing pat on policy. The dollar and euro posted their biggest daily losses against the yen in
Published 30 Apr, 2016 12:00am
Gold climbs after Fed, BOJ stand pat on policy

Gold climbs after Fed, BOJ stand pat on policy

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 30 Apr, 2016 12:00am
Sugar vaults ahead of May expiry, cocoa at 2016 peaks

Sugar vaults ahead of May expiry, cocoa at 2016 peaks

Raw sugar on ICE rallied nearly 6 percent on Friday, on last-minute dealings ahead of the May contract's expiry. The rally sharply narrowed the May-July spread, which on Thursday saw May at a record discount. Concern about production in India spurred shor
Published 30 Apr, 2016 12:00am
Gold, silver hit 15-month highs as dollar slides
Currency

Gold, silver hit 15-month highs as dollar slides

Gold and silver prices rallied to their highest since January last year on Friday as the Bank of Japan's decision the previous day to hold off expanding monetary stimulus weighed on stock markets and the dollar. The yen hit an 18-month peak versus the US
Published 30 Apr, 2016 12:00am
Argentine rains cause damage, disease to soy crop
Exchange

Argentine rains cause damage, disease to soy crop

Unusually heavy El Nino rains in Argentina this month have left large parts of the country's soy crop affected by fungi and disease, forcing producers to sell at a discount, industry experts told Reuters. Heavy downpours in the first three weeks of April
Published 30 Apr, 2016 12:00am
US MIDDAY: soybeans firmer

US MIDDAY: soybeans firmer

Chicago Board of Trade soybean futures firmed on Friday on expectations that the low quality of the crop harvested in Argentina will boost export demand for US supplies. Technical buying also helped soybean futures, with buyers stepping into the market wh
Published 30 Apr, 2016 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (April 29, 2016).

Published 30 Apr, 2016 12:00am
'Guilty until proven innocent'

'Guilty until proven innocent'

This is apropos a Business Recorder op-ed "Guilty until proven innocent" carried by the newspaper yesterday. The writer, Ikram Sehgal, seems to have advanced an interesting argument in relation to the need of a caretaker set-up in the country. In t
Published 30 Apr, 2016 12:00am
USC raises pulses' prices by up to 40 percent

USC raises pulses' prices by up to 40 percent

The government has increased the prices of pulses at utility stores by 10 percent to 40 percent; it is reliably learnt on Friday. Sources said according to a notification issued by the Utility Stores Corporation, with respect to revision in sale prices, t
Published 30 Apr, 2016 12:00am
USC raises pulses'' prices by up to 40 percent

USC raises pulses'' prices by up to 40 percent

The government has increased the prices of pulses at utility stores by 10 percent to 40 percent; it is reliably learnt on Friday. Sources said according to a notification issued by the Utility Stores Corporation, with respect to revision in sale prices, t
Published 30 Apr, 2016 12:00am
Prime Minister takes notice of price hike

Prime Minister takes notice of price hike

Prime Minister Muhammad Nawaz Sharif Friday took notice of increase in prices of pulses and showed displeasure over it. According to a PM House statement, the Prime Minister ordered to immediately withdraw the notification of the enhancement of the prices
Published 30 Apr, 2016 12:00am
Money Market Report
Kerb

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (April 29, 2016).
Published 30 Apr, 2016 12:00am
Prime Minister takes notice of price hike

Prime Minister takes notice of price hike

Prime Minister Muhammad Nawaz Sharif Friday took notice of increase in prices of pulses and showed displeasure over it. According to a PM House statement, the Prime Minister ordered to immediately withdraw the notification of the enhancement of the prices
Published 30 Apr, 2016 12:00am
Prime Minister takes notice of price hike

Prime Minister takes notice of price hike

Prime Minister Muhammad Nawaz Sharif Friday took notice of increase in prices of pulses and showed displeasure over it. According to a PM House statement, the Prime Minister ordered to immediately withdraw the notification of the enhancement of the prices
Published 30 Apr, 2016 12:00am
China denies request for Hong Kong visit by US carrier group

China denies request for Hong Kong visit by US carrier group

China has denied a request for a US carrier strike group led by the USS John C. Stennis to visit to Hong Kong, the US Defence Department said on Friday, amid heightened tensions over China's territorial claims in the South China Sea. A Pentagon spokesman,
Published 30 Apr, 2016 12:00am
China denies request for Hong Kong visit by US carrier group

China denies request for Hong Kong visit by US carrier group

China has denied a request for a US carrier strike group led by the USS John C. Stennis to visit to Hong Kong, the US Defence Department said on Friday, amid heightened tensions over China's territorial claims in the South China Sea. A Pentagon spokesman,
Published 30 Apr, 2016 12:00am
The plight of Fata teachers

The plight of Fata teachers

The state is under constitutional obligation to "provide free and compulsory education to all children of age five to 16 years". In the Federally Administered Tribal Areas (Fata) there are nearly half a million children in this age group who do not go to
Published 30 Apr, 2016 12:00am
Currency notes: exchange rates
Exchange

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (April 29, 2016).

Published 30 Apr, 2016 12:00am
An agreement at last

An agreement at last

On April 22 (Earth Day), some 175 members of the United Nations signed the Paris agreement on climate change. The landmark accord sets out a global action plan to put the world on track by 2020 to limit a rise in global temperatures below 2 degrees Celsiu
Published 30 Apr, 2016 12:00am
Budget strategy paper
Cotton

Budget strategy paper

How will you define the budget-making process in Pakistan? The answer is: It is the same exercise of managing figures, plugging gaps, trade-offs and realignments of duty slabs, tariffs and tax slabs and similar adjustments. There is not much of out-of-the
Published 30 Apr, 2016 12:00am
How Barclays turned a $10 billion profit into a tax loss

How Barclays turned a $10 billion profit into a tax loss

When Barclays Plc sold a fund management business to US financial group Blackrock Inc in 2009, the larger-than-expected $15.2 billion price tag was not the only good news for the British bank's investors. The way Barclays structured the sale - by booking
Published 30 Apr, 2016 12:00am
Barclays bid rates and maximum rates for payment of interest
Exchange

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 30 Apr, 2016 12:00am
Hong Kong's working poor choose streets over dismal housing

Hong Kong's working poor choose streets over dismal housing

A plastic sheet, a blanket, a sleeping bag: a makeshift bed laid out in the shadow of towering apartment blocks by a man who would rather be homeless than cooped up in Hong Kong's cramped and overpriced housing units. Bright-eyed, neatly turned out but pa
Published 30 Apr, 2016 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 30 Apr, 2016 12:00am
State Bank of Pakistan conversion rates
Exchange

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 30 Apr, 2016 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 30 Apr, 2016 12:00am
PSO earns Rs 4.6 billion PAT in nine months

PSO earns Rs 4.6 billion PAT in nine months

The Board of Management (BoM) of Pakistan State Oil (PSO) reviewed the company's performance for the nine months period from July to March of Financial Year 2016 (9MFY16) here Friday at PSO House. Musadik Malik presided over the meeting. The company repor
Published 30 Apr, 2016 12:00am
BRIDGE NOTES: The only trick

BRIDGE NOTES: The only trick

For a declarer to be good at Bridge, it is necessary that he should think logically and have the foresight to explore all possible avenues in an effort to make his contract which may look easy at first but gets more threatening with the distribution unfol
Published 30 Apr, 2016 12:00am
PSO earns Rs 4.6 billion PAT in nine months

PSO earns Rs 4.6 billion PAT in nine months

The Board of Management (BoM) of Pakistan State Oil (PSO) reviewed the company's performance for the nine months period from July to March of Financial Year 2016 (9MFY16) here Friday at PSO House. Musadik Malik presided over the meeting. The company repor
Published 30 Apr, 2016 12:00am
The life of pop superstar Prince in music and film

The life of pop superstar Prince in music and film

Music superstar Prince death stunned a music world heavily influenced by his string of top-selling hits, gifted songwriting and dynamic stage performances. Here is a look at his legacy:
Published 30 Apr, 2016 12:00am
PSO earns Rs 4.6 billion PAT in nine months

PSO earns Rs 4.6 billion PAT in nine months

The Board of Management (BoM) of Pakistan State Oil (PSO) reviewed the company''s performance for the nine months period from July to March of Financial Year 2016 (9MFY16) here Friday at PSO House. Musadik Malik presided over the meeting. The company repo
Published 30 Apr, 2016 12:00am
Deluge of purple tributes after Prince death

Deluge of purple tributes after Prince death

Tributes poured in from around the world Friday following the sudden death at 57 of superstar Prince, with fans flocking to dance parties to celebrate the life of the "Purple Rain" music legend. As US authorities sought to shed light on the singer's myste
Published 30 Apr, 2016 12:00am
PSO earns Rs 4.6 billion PAT in nine months

PSO earns Rs 4.6 billion PAT in nine months

The Board of Management (BoM) of Pakistan State Oil (PSO) reviewed the company''''s performance for the nine months period from July to March of Financial Year 2016 (9MFY16) here Friday at PSO House. Musadik Malik presided over the meeting. The company re
Published 30 Apr, 2016 12:00am
Film tourism growing as fans want to see the original locations

Film tourism growing as fans want to see the original locations

Sometimes a film's locations make viewers say "wow," and on occasion audiences remember a movie's setting better than they do the actors. Action-packed shots racing over majestic mountain peaks, for example, can trigger wanderlust in viewers.
Published 30 Apr, 2016 12:00am
Australian aid worker kidnapped in Afghanistan

Australian aid worker kidnapped in Afghanistan

An Australian woman working for a charity in Afghanistan has been kidnapped, the country's foreign minister said Friday. Julie Bishop said Canberra was working to secure the release of Katherine Jane Wilson, but insisted Australia does not pay ransoms for
Published 30 Apr, 2016 12:00am
Italy says happy 70th birthday to iconic scooter

Italy says happy 70th birthday to iconic scooter

Design classic and symbol of the "dolce vita", the Vespa turns 70 this weekend and Italy's most celebrated scooter is buzzing along nicely after tripling sales in the last decade. It was on a Vespa that Gregory Peck pursued Audrey Hepburn in "Roman Holida
Published 30 Apr, 2016 12:00am
Australian aid worker kidnapped in Afghanistan

Australian aid worker kidnapped in Afghanistan

An Australian woman working for a charity in Afghanistan has been kidnapped, the country's foreign minister said Friday. Julie Bishop said Canberra was working to secure the release of Katherine Jane Wilson, but insisted Australia does not pay ransoms for
Published 30 Apr, 2016 12:00am
A robot to teach kids coding

A robot to teach kids coding

A robot named Root has been developed to expose kids of all ages to coding in a way that brings the often daunting world of computer science to life. Root looks like a smoke detector but is actually a sophisticated robot. A magnetic surface, wheels, and a
Published 30 Apr, 2016 12:00am
Nisar concerned over TV Anchor's arrest

Nisar concerned over TV Anchor's arrest

Minister for Interior and Narcotics Control, Chaudhry Nisar Ali Khan on Friday expressed concern over arrest of an anchor of ARY News, Iqrar-ul-Hasan in Karachi. In a statement issued here, the Minister said Federal and Provincial governments should learn
Published 30 Apr, 2016 12:00am
Summer delights

Summer delights

The scorching summer heathas already settled in Karachi. The mounting temperature, sweltering air, harsh atmosphere, high humidityleveland heat related ailments has been increasing the demand for the street vended fresh juices and cold desserts day by day
Published 30 Apr, 2016 12:00am
Nisar concerned over TV Anchor's arrest

Nisar concerned over TV Anchor's arrest

Minister for Interior and Narcotics Control, Chaudhry Nisar Ali Khan on Friday expressed concern over arrest of an anchor of ARY News, Iqrar-ul-Hasan in Karachi. In a statement issued here, the Minister said Federal and Provincial governments should learn
Published 30 Apr, 2016 12:00am
BOOK REVIEWS: Escape from Oblivion

BOOK REVIEWS: Escape from Oblivion

Ikram Sehgal, an articulate member of Pakistan's strategic community, has been long time editor of the respected Defence Journal, representing the views principally of Pakistan's military veterans. He earned his spurs as one of about twenty, by his count,
Published 30 Apr, 2016 12:00am
BoK lead arranger for Rs 11.375 billion wheat procurement in KP

BoK lead arranger for Rs 11.375 billion wheat procurement in KP

The Bank of Khyber and Food Department, Government of Khyber Pakhtunkhwa signed MoU this afternoon for syndicate financing arrangement of Rs 11.375 Billion for procurement of wheat during the year 2016-2017. The MoU was signed by Shams-ul-Qayyum, Managing
Published 30 Apr, 2016 12:00am
Why you don't sleep well in a strange bed

Why you don't sleep well in a strange bed

The old adage about sleeping with one eye open in an unfamiliar place may not be too far off the mark. A new study suggests that one half of the brain remains on high alert during the first night of sleep in a new space.
Published 30 Apr, 2016 12:00am
BoK lead arranger for Rs 11.375 billion wheat procurement in KP

BoK lead arranger for Rs 11.375 billion wheat procurement in KP

The Bank of Khyber and Food Department, Government of Khyber Pakhtunkhwa signed MoU this afternoon for syndicate financing arrangement of Rs 11.375 Billion for procurement of wheat during the year 2016-2017. The MoU was signed by Shams-ul-Qayyum, Managing
Published 30 Apr, 2016 12:00am
Encryption row spotlights fears on security, privacy
Cotton

Encryption row spotlights fears on security, privacy

Has encryption technology given the bad guys a way to operate in the dark? Or has the new tech age gifted law enforcement with unprecedented surveillance powers? A weeks-long showdown between the FBI and Apple ended last month without a clear winner, but
Published 30 Apr, 2016 12:00am
BoK lead arranger for Rs 11.375 billion wheat procurement in KP

BoK lead arranger for Rs 11.375 billion wheat procurement in KP

The Bank of Khyber and Food Department, Government of Khyber Pakhtunkhwa signed MoU this afternoon for syndicate financing arrangement of Rs 11.375 Billion for procurement of wheat during the year 2016-2017. The MoU was signed by Shams-ul-Qayyum, Managing
Published 30 Apr, 2016 12:00am
ART FACTS: Neoteric expressions

ART FACTS: Neoteric expressions

Pakistan art scene is changing for the last few years. Now people are viewing, buying and also understanding contemporary art. But art lovers who added contemporary art to their collection later found that it has no resale value. Because the people who bo
Published 30 Apr, 2016 12:00am
USC raises pulses' prices by up to 40 percent

USC raises pulses' prices by up to 40 percent

The government has increased the prices of pulses at utility stores by 10 percent to 40 percent; it is reliably learnt on Friday. Sources said according to a notification issued by the Utility Stores Corporation, with respect to revision in sale prices, t
Published 30 Apr, 2016 12:00am
When technology bites back

When technology bites back

From the 1912 sinking of RMS Titanic to the Chernobyl nuclear accident 30 years ago, technology has repeatedly confounded the confidence of its creators. But it is still somehow a surprise today when we are led astray by our closest technological companio
Published 30 Apr, 2016 12:00am
BRIndex30 up 89.62 points

BRIndex30 up 89.62 points

On Friday, BRIndex30 opened at 21,536.33 points and remained positive throughout the trading session. It touched an intraday high of 21,625.95 points and an intraday low of 21,536.33 points and closed at 21,625.95 points which was 89.62 points or 0.42 per
Published 30 Apr, 2016 12:00am
Karachi Chronicle: No travel culture

Karachi Chronicle: No travel culture

Travel in the vocabulary of Karachi's affluent and upper middle-class is to go abroad, mostly to places like Dubai where they spend their time in the malls shopping. Ask them where they have been in Pakistan and they will tell you Swat, Murree, Bhurban. O
Published 30 Apr, 2016 12:00am
Fertilizer plants to pay less: Ogra raises gas prices for power plants

Fertilizer plants to pay less: Ogra raises gas prices for power plants

The Oil and Gas Regulatory Authority (Ogra) has reduced gas prices for fertilizer plants and increased prices for power producers, a notification issued by the authority said. According to the notification, the regulator has increased gas prices for power
Published 30 Apr, 2016 12:00am
Dubai's Mashreq Q1 net profit falls 18.3 percent

Dubai's Mashreq Q1 net profit falls 18.3 percent

Mashreq, Dubai's third-biggest lender by assets, on Sunday posted a 18.3 percent fall in first-quarter net profit as it failed to recoup as many bad debts as it did in the corresponding period of last year. The lender made a net profit of 532 million dirh
Published 30 Apr, 2016 12:00am
Various sectors Rs 416.8 billion released under PSDP

Various sectors Rs 416.8 billion released under PSDP

The federal government has released Rs 416.8 billion (60 percent of the total budgeted allocation for the year), including Rs 72 billion foreign aid, under the Public Sector Development Programme (PSDP) for various development projects against the budgete
Published 30 Apr, 2016 12:00am
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