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Print - 2016-04-30
China's banks post flat profit growth as bad debts rise

China's banks post flat profit growth as bad debts rise

Four of China's five largest state-owned banks barely posted any growth in profit in the first quarter, as widely expected, with rising bad debt and narrower margins hitting their bottom lines. The country's banks face challenges from both defaulting borr
Published 30 Apr, 2016 12:00am
The Weather

The Weather

The weather report on Friday (April 29, 2016) and the forecast for Saturday (April 30, 2016).

Published 30 Apr, 2016 12:00am
China's Sany Heavy Industry Co reports jump in Q1 profits

China's Sany Heavy Industry Co reports jump in Q1 profits

Chinese heavy machinery maker Sany Heavy Industry Co reported a more than 300 percent jump in its first-quarter net profits on Thursday. It did not give an explanation for the spike but said one of its subsidiaries took control of two firms in January. Co
Published 30 Apr, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (April 29, 2016).

Published 30 Apr, 2016 12:00am
China's Sany Heavy Industry Co reports jump in Q1 profits

China's Sany Heavy Industry Co reports jump in Q1 profits

Chinese heavy machinery maker Sany Heavy Industry Co reported a more than 300 percent jump in its first-quarter net profits on Thursday. It did not give an explanation for the spike but said one of its subsidiaries took control of two firms in January. Co
Published 30 Apr, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (April 29, 2016).

Published 30 Apr, 2016 12:00am
60 million people worldwide hit by El Nino: UN

60 million people worldwide hit by El Nino: UN

Some 60 million people worldwide need assistance due to havoc wreaked by the El Nino climate phenomenon, but a shortage of funding could threaten the delivery of life-saving aid, the UN warned Tuesday. "The numbers are truly alarming," UN humanitarian chi
Published 30 Apr, 2016 12:00am
Expedia posts surprise profit as acquisitions pay off

Expedia posts surprise profit as acquisitions pay off

Expedia Inc, the world's largest online travel services company by bookings, posted a surprise quarterly profit as a string of acquisitions helped boost revenue. Shares of the company, which also beat revenue expectations, rose 11.7 percent to $119.50 in
Published 30 Apr, 2016 12:00am
Expedia posts surprise profit as acquisitions pay off

Expedia posts surprise profit as acquisitions pay off

Expedia Inc, the world's largest online travel services company by bookings, posted a surprise quarterly profit as a string of acquisitions helped boost revenue. Shares of the company, which also beat revenue expectations, rose 11.7 percent to $119.50 in
Published 30 Apr, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (April 29, 2016).

Published 30 Apr, 2016 12:00am
Yahoo to add four directors to board in deal with Starboard

Yahoo to add four directors to board in deal with Starboard

Yahoo Inc agreed to add four new independent directors to its board, bowing to pressure from activist hedge fund Starboard Value LP and averting a proxy fight ahead of its upcoming annual meeting. The agreement shows Yahoo's board and management team were
Published 30 Apr, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (April 29, 2016)

Published 30 Apr, 2016 12:00am
Russian central bank holds rates but says it may cut soon

Russian central bank holds rates but says it may cut soon

Russia's central bank left its main policy rate on hold as expected on Friday, citing inflation concerns, but hinted it may cut it in the months ahead as inflation falls. The bank has now left the rate on hold at 11 percent since July, signalling its dete
Published 30 Apr, 2016 12:00am
Spanish mid-sized banks see slump in lending income

Spanish mid-sized banks see slump in lending income

Spanish mid-sized lenders Bankia and Banco Popular both reported falls in lending income on Friday, as they face the challenge of increasing profits at a time of historically low interest rates. However, both managed to improve the quality of their loan b
Published 30 Apr, 2016 12:00am
Telefonica Brasil profit nearly triples on tower sales

Telefonica Brasil profit nearly triples on tower sales

Telefonica Brasil SA said it nearly tripled first-quarter net income from a year ago as the country's biggest telecommunications company sold cell towers and cut costs after acquiring broadband provider GVT. Profit rose to 1.218 billion reais ($346 millio
Published 30 Apr, 2016 12:00am
Telefonica Brasil profit nearly triples on tower sales

Telefonica Brasil profit nearly triples on tower sales

Telefonica Brasil SA said it nearly tripled first-quarter net income from a year ago as the country's biggest telecommunications company sold cell towers and cut costs after acquiring broadband provider GVT. Profit rose to 1.218 billion reais ($346 millio
Published 30 Apr, 2016 12:00am
NDRC China, PC agree to expedite pace of work on CPEC

NDRC China, PC agree to expedite pace of work on CPEC

National Development & Reform Commission (NDRC) of China and Ministry of Planning, Development & Reform of Pakistan have agreed to expedite the pace of work on development projects in Gwadar under China-Pakistan Economic Corridor (CPEC) framework. This ag
Published 30 Apr, 2016 12:00am
NDRC China, PC agree to expedite pace of work on CPEC

NDRC China, PC agree to expedite pace of work on CPEC

National Development & Reform Commission (NDRC) of China and Ministry of Planning, Development & Reform of Pakistan have agreed to expedite the pace of work on development projects in Gwadar under China-Pakistan Economic Corridor (CPEC) framework. This ag
Published 30 Apr, 2016 12:00am
Ukraine inflation to slow to single digits
Currency

Ukraine inflation to slow to single digits

Ukraine's inflation is likely to ease in April into single digits for the first time in two years, tumbling to 7.4 percent year-on-year from 60.4 percent in the same month a year ago, a Reuters poll of analysts showed on Friday. In March 2016 inflation sl
Published 30 Apr, 2016 12:00am
US 'drops planned Pakistan F-16 fighter jet subsidy'

US 'drops planned Pakistan F-16 fighter jet subsidy'

The US will no longer subsidise the sale of eight F-16 fighter jets to Pakistan, a senior state department official is said to have told the BBC. The decision means that Pakistan will have to pay more than $700m (£480m) - two-and-a-half times the original
Published 30 Apr, 2016 12:00am
SK Hynix first quarter profit slips to three-year low

SK Hynix first quarter profit slips to three-year low

South Korean memory chip maker SK Hynix Inc said its first-quarter operating profit fell 65 percent from a year earlier to its lowest in 3 years, hit by faltering demand for consumer electronics such as smartphones. SK Hynix said in a regulatory filing it
Published 30 Apr, 2016 12:00am
US 'drops planned Pakistan F-16 fighter jet subsidy'

US 'drops planned Pakistan F-16 fighter jet subsidy'

The US will no longer subsidise the sale of eight F-16 fighter jets to Pakistan, a senior state department official is said to have told the BBC. The decision means that Pakistan will have to pay more than $700m (£480m) - two-and-a-half times the original
Published 30 Apr, 2016 12:00am
SK Hynix first quarter profit slips to three-year low

SK Hynix first quarter profit slips to three-year low

South Korean memory chip maker SK Hynix Inc said its first-quarter operating profit fell 65 percent from a year earlier to its lowest in 3 years, hit by faltering demand for consumer electronics such as smartphones. SK Hynix said in a regulatory filing it
Published 30 Apr, 2016 12:00am
NDRC China, PC agree to expedite pace of work on CPEC

NDRC China, PC agree to expedite pace of work on CPEC

National Development & Reform Commission (NDRC) of China and Ministry of Planning, Development & Reform of Pakistan have agreed to expedite the pace of work on development projects in Gwadar under China-Pakistan Economic Corridor (CPEC) framework. This ag
Published 30 Apr, 2016 12:00am
Swedbank first quarter profit tops forecast as low loan losses boost

Swedbank first quarter profit tops forecast as low loan losses boost

Swedish banking group Swedbank reported first-quarter operating profit above market expectations on Tuesday as lower loan losses and increased mortgage volumes helped offset a challenging interest rate environment. Swedbank, one of Sweden's biggest mortga
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
Canadian GDP slips in February after January growth surge

Canadian GDP slips in February after January growth surge

The Canadian economy contracted in February after a strong start to the year, as activity in the manufacturing and natural resource sectors declined, suggesting that low energy prices continue to impede growth. Data from Statistics Canada on Friday showed
Published 30 Apr, 2016 12:00am
Future of Fata: no decision to be imposed on tribesmen: Prime Minister

Future of Fata: no decision to be imposed on tribesmen: Prime Minister

Prime Minister Nawaz Sharif said on Friday that future of the FATA would be decided as per the wishes of the people and no decision would be imposed on the tribesmen. He said this talking to Governor Khyber Pakhtunkhwa (KP) Iqbal Zafar Jhagra who met him
Published 30 Apr, 2016 12:00am
EBay attracts more shoppers, earnings beat expectations

EBay attracts more shoppers, earnings beat expectations

EBay Inc reported better-than-expected quarterly earnings and raised its full-year revenue forecast as a revamped shopping platform attracted more buyers, mitigating growth concerns following its spinoff of PayPal Holdings Inc.
Published 30 Apr, 2016 12:00am
Future of Fata: no decision to be imposed on tribesmen: Prime Minister

Future of Fata: no decision to be imposed on tribesmen: Prime Minister

Prime Minister Nawaz Sharif said on Friday that future of the FATA would be decided as per the wishes of the people and no decision would be imposed on the tribesmen. He said this talking to Governor Khyber Pakhtunkhwa (KP) Iqbal Zafar Jhagra who met him
Published 30 Apr, 2016 12:00am
Tame US inflation bolsters Fed caution on rate hikes

Tame US inflation bolsters Fed caution on rate hikes

US inflation barely rose in March as consumer spending remained tepid, making it less likely that the Federal Reserve will be able to follow through on its projected two interest rate increases this year. The tame inflation backdrop was reinforced by anot
Published 30 Apr, 2016 12:00am
NPLs of housing finance down 14 percent in CY15

NPLs of housing finance down 14 percent in CY15

Non-Performing Loans (NPLs) of housing finance fell by 14 percent during the last calendar year (CY15) as banks and DFIs made concrete efforts for the recovery of loans. According to State Bank of Pakistan (SBP), NPLs of housing finance decreased from Rs
Published 30 Apr, 2016 12:00am
EBay attracts more shoppers, earnings beat expectations

EBay attracts more shoppers, earnings beat expectations

EBay Inc reported better-than-expected quarterly earnings and raised its full-year revenue forecast as a revamped shopping platform attracted more buyers, mitigating growth concerns following its spinoff of PayPal Holdings Inc.
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
Amazon profit crushes estimates as cloud service revenue jumps

Amazon profit crushes estimates as cloud service revenue jumps

Amazon.com Inc's quarterly profit and revenue topped analysts' expectations by a wide margin as the Prime loyalty program helped the online retail giant attract more customers and revenue surged in its cloud services business. Shares of the world's bigges
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
Amazon profit crushes estimates as cloud service revenue jumps

Amazon profit crushes estimates as cloud service revenue jumps

Amazon.com Inc's quarterly profit and revenue topped analysts' expectations by a wide margin as the Prime loyalty program helped the online retail giant attract more customers and revenue surged in its cloud services business. Shares of the world's bigges
Published 30 Apr, 2016 12:00am
NPLs of housing finance down 14 percent in CY15

NPLs of housing finance down 14 percent in CY15

Non-Performing Loans (NPLs) of housing finance fell by 14 percent during the last calendar year (CY15) as banks and DFIs made concrete efforts for the recovery of loans. According to State Bank of Pakistan (SBP), NPLs of housing finance decreased from Rs
Published 30 Apr, 2016 12:00am
Transatlantic trade talks claim progress, see deal this year

Transatlantic trade talks claim progress, see deal this year

Negotiators on the ambitious TTIP transatlantic trade pact said they had made significant progress in New York this week and hope for a deal in 2016, despite popular opposition on both sides. Both sides said they would not be deterred by increased attacks
Published 30 Apr, 2016 12:00am
NPLs of housing finance down 14 percent in CY15

NPLs of housing finance down 14 percent in CY15

Non-Performing Loans (NPLs) of housing finance fell by 14 percent during the last calendar year (CY15) as banks and DFIs made concrete efforts for the recovery of loans. According to State Bank of Pakistan (SBP), NPLs of housing finance decreased from Rs
Published 30 Apr, 2016 12:00am
France sees economic growth spurt from consumers and business

France sees economic growth spurt from consumers and business

French growth accelerated more than expected at the start of the year with the strongest increase in consumer spending since 2004 and a pick-up in business investment. The economy grew 0.5 percent in the first quarter, beating even the most optimistic for
Published 30 Apr, 2016 12:00am
Eurozone economy finally reaches pre-crisis levels
Currency

Eurozone economy finally reaches pre-crisis levels

The eurozone''s economy grew far beyond expectations in the first quarter of 2016, finally surpassing pre-crisis levels after eight years, as cheap oil and credit made itself felt. Inflation in Europe however remained very low and a source of concern with
Published 30 Apr, 2016 12:00am
Eni makes progress on $8 billion asset sales goal

Eni makes progress on $8 billion asset sales goal

Italy's Eni is well on track to sell assets worth 5 billion euros in the next two years as the oil major looks for resources to fund high-profile projects in Egypt and Mozambique and offset the impact of lower oil prices. The state-controlled company, whi
Published 30 Apr, 2016 12:00am
Eurozone economy finally reaches pre-crisis levels
Currency

Eurozone economy finally reaches pre-crisis levels

The eurozone's economy grew far beyond expectations in the first quarter of 2016, finally surpassing pre-crisis levels after eight years, as cheap oil and credit made itself felt. Inflation in Europe however remained very low and a source of concern with
Published 30 Apr, 2016 12:00am
Eni makes progress on $8 billion asset sales goal

Eni makes progress on $8 billion asset sales goal

Italy's Eni is well on track to sell assets worth 5 billion euros in the next two years as the oil major looks for resources to fund high-profile projects in Egypt and Mozambique and offset the impact of lower oil prices. The state-controlled company, whi
Published 30 Apr, 2016 12:00am
Eurozone economy finally reaches pre-crisis levels
Currency

Eurozone economy finally reaches pre-crisis levels

The eurozone's economy grew far beyond expectations in the first quarter of 2016, finally surpassing pre-crisis levels after eight years, as cheap oil and credit made itself felt. Inflation in Europe however remained very low and a source of concern with
Published 30 Apr, 2016 12:00am
Chevron reports $725 million loss in 1st quarter

Chevron reports $725 million loss in 1st quarter

US energy firm Chevron reported Friday a loss of $725 million in the first quarter, joining the growing list of petroleum giants that finished the period in the red. Chevron reported $2.6 billion in earnings in the year-ago period. Revenues dropped 31.8 p
Published 30 Apr, 2016 12:00am
Armed man dodges security checks, enters Sindh PA

Armed man dodges security checks, enters Sindh PA

An armed person described by many as a stuntman on Friday upset everyone during the Sindh Assembly sitting who, along with a private TV channel host managed to enter the hall of legislature to prove lax security arrangements for the legislators. Coming do
Published 30 Apr, 2016 12:00am
Chevron reports $725 million loss in 1st quarter

Chevron reports $725 million loss in 1st quarter

US energy firm Chevron reported Friday a loss of $725 million in the first quarter, joining the growing list of petroleum giants that finished the period in the red. Chevron reported $2.6 billion in earnings in the year-ago period. Revenues dropped 31.8 p
Published 30 Apr, 2016 12:00am
Tax payers: FBR urged to provide maximum facilitation

Tax payers: FBR urged to provide maximum facilitation

Minister for Finance and Revenues Ishaq Dar on Friday called upon the Federal Board of Revenue (FBR) that it should provide maximum facilitation to the tax payers. The Federal Minister for Finance Senator Mohammad Ishaq Dar stated this while chairing a me
Published 30 Apr, 2016 12:00am
Delta orders 37 Airbus A321 for $4.2 billion

Delta orders 37 Airbus A321 for $4.2 billion

Delta ordered on Friday 37 of Airbus' medium-haul A321 aircraft with a catalogue price $4.2 billion (3.7 billion euros) as the US airline seeks to quickly retire older planes. "The order for the A321s is an opportunistic fleet move that enables us to prod
Published 30 Apr, 2016 12:00am
Tax payers: FBR urged to provide maximum facilitation

Tax payers: FBR urged to provide maximum facilitation

Minister for Finance and Revenues Ishaq Dar on Friday called upon the Federal Board of Revenue (FBR) that it should provide maximum facilitation to the tax payers. The Federal Minister for Finance Senator Mohammad Ishaq Dar stated this while chairing a me
Published 30 Apr, 2016 12:00am
EU not fully prepared to deal with failing banks: Commission

EU not fully prepared to deal with failing banks: Commission

The European Union is not yet fully prepared to handle banking collapses in the event of a new financial crisis, the European Commission said on Friday, urging member states to agree on pooling more resources to weather future storms. Following the euro z
Published 30 Apr, 2016 12:00am
Tax payers: FBR urged to provide maximum facilitation

Tax payers: FBR urged to provide maximum facilitation

Minister for Finance and Revenues Ishaq Dar on Friday called upon the Federal Board of Revenue (FBR) that it should provide maximum facilitation to the tax payers. The Federal Minister for Finance Senator Mohammad Ishaq Dar stated this while chairing a me
Published 30 Apr, 2016 12:00am
Chinese ship set to be first through expanded Panama Canal

Chinese ship set to be first through expanded Panama Canal

A Chinese-owned freighter will be the first vessel to pass through Panama's newly expanded canal, to be inaugurated with great pomp in June after nine years of work, officials said Friday. The Andronikos, a Marshall Islands-flagged container ship belongin
Published 30 Apr, 2016 12:00am
Banks lead rally

Banks lead rally

Supported by positives on the local and foreign fronts, equities Friday ended 216 points or 0.63 percent higher under the lead of banking sector. Showing volatility in intraday trade, the benchmark KSE-100 index ended at 34,719 compared to 34,504 of last
Published 30 Apr, 2016 12:00am
Software firm Rovi to acquire TiVo in $1.1 billion deal

Software firm Rovi to acquire TiVo in $1.1 billion deal

US media software company Rovi has agreed to acquire TiVo, the maker of popular digital video recorders and set-top boxes, for $1.1 billion, the companies said Friday. The cash-and-stock deal "combines two media and entertainment technology innovators" to
Published 30 Apr, 2016 12:00am
Banks lead rally

Banks lead rally

Supported by positives on the local and foreign fronts, equities Friday ended 216 points or 0.63 percent higher under the lead of banking sector. Showing volatility in intraday trade, the benchmark KSE-100 index ended at 34,719 compared to 34,504 of last
Published 30 Apr, 2016 12:00am
Indonesia palm oil tax increase may reduce exports, revenues

Indonesia palm oil tax increase may reduce exports, revenues

Indonesia raised its palm oil export tax for the first time since October 2014, a move that threatens to dent shipments and export revenues from the world's top producer of the edible oil. Indonesia will set the crude palm oil (CPO) tax at $3 per tonne in
Published 30 Apr, 2016 12:00am
Banks lead rally

Banks lead rally

Supported by positives on the local and foreign fronts, equities Friday ended 216 points or 0.63 percent higher under the lead of banking sector. Showing volatility in intraday trade, the benchmark KSE-100 index ended at 34,719 compared to 34,504 of last
Published 30 Apr, 2016 12:00am
Cotton market: Trade activity rises on strong buying by mills
Cotton

Cotton market: Trade activity rises on strong buying by mills

Prices were stable on the cotton market on Friday as mills indulged in fresh buying to meet their urgent requirements, dealers said. The official spot rate was unchanged at Rs 5,600 dealers said. In the Punjab, prices of seed cotton showed no change at Rs
Published 30 Apr, 2016 12:00am
Armed man dodges security checks, enters Sindh PA

Armed man dodges security checks, enters Sindh PA

An armed person described by many as a stuntman on Friday upset everyone during the Sindh Assembly sitting who, along with a private TV channel host managed to enter the hall of legislature to prove lax security arrangements for the legislators. Coming do
Published 30 Apr, 2016 12:00am
No change on grain market

No change on grain market

According to the Daily Market Report, not a single change was seen on the local commodity market and oil seeds market on Friday.
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
Good weather improves Ivory Coast cocoa mid-crop

Good weather improves Ivory Coast cocoa mid-crop

Abundant rainfall and sunshine that continued last week in most of Ivory Coast's main cocoa-growing regions should improve pod development for the April-to-September cocoa mid-crop, farmers said on Monday. Farmers in the world's top cocoa producer said sm
Published 30 Apr, 2016 12:00am
Rouhani allies seek control of parliament in Iran vote

Rouhani allies seek control of parliament in Iran vote

Voting was extended Friday in second round elections for almost a quarter of the seats in Iran's parliament, a crucial showdown between reformists and conservatives seeking to influence the country's future. The polls will decide who has the most power wh
Published 30 Apr, 2016 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 157,700 tonnes of cargo comprising 125,401 tonnes of import cargo and 32,299 tonnes of export cargo including 7,166 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargo of 125
Published 30 Apr, 2016 12:00am
Rouhani allies seek control of parliament in Iran vote

Rouhani allies seek control of parliament in Iran vote

Voting was extended Friday in second round elections for almost a quarter of the seats in Iran's parliament, a crucial showdown between reformists and conservatives seeking to influence the country's future. The polls will decide who has the most power wh
Published 30 Apr, 2016 12:00am
China's gold imports rise to three-month high

China's gold imports rise to three-month high

China's net gold imports via main conduit Hong Kong climbed to a three-month high in March on restocking after the new year holiday, but market sources said consumer demand remained soft. Gold is a popular gift during the Lunar New Year holiday, which was
Published 30 Apr, 2016 12:00am
Helicopter crash off Norway kills 13 oil workers

Helicopter crash off Norway kills 13 oil workers

A helicopter carrying North Sea oil workers crashed off the coast of south-west Norway on Friday, killing all 13 people on board, rescue services said. The Super Puma chopper went down around midday in the archipelago off the coast of Bergen, Norway's sec
Published 30 Apr, 2016 12:00am
European vegoils: palm oil easier on weaker ringgit

European vegoils: palm oil easier on weaker ringgit

Crude palm oil was offered mostly easier on Tuesday on the back of a weaker ringgit, which at the same time underpinned firm Malaysian palm oil futures due to export hopes. "The easier ringgit made palm oil cheaper for foreign buyers, which could boost ex
Published 30 Apr, 2016 12:00am
Helicopter crash off Norway kills 13 oil workers

Helicopter crash off Norway kills 13 oil workers

A helicopter carrying North Sea oil workers crashed off the coast of south-west Norway on Friday, killing all 13 people on board, rescue services said. The Super Puma chopper went down around midday in the archipelago off the coast of Bergen, Norway's sec
Published 30 Apr, 2016 12:00am
US FOB Gulf Coast soya premiums firmer

US FOB Gulf Coast soya premiums firmer

Soyabean export premiums for shipments from the US Gulf Coast were steady to firm on Wednesday as CIF barge basis values climbed for summertime shipments and beyond and as new-crop futures prices dropped, traders said. Solid demand for deferred soya shipm
Published 30 Apr, 2016 12:00am
Tajikistan bans Russian-style surnames for children

Tajikistan bans Russian-style surnames for children

Ex-Soviet Tajikistan on Friday imposed a legal ban on giving new-born babies surnames with Russian-style endings, in line with a government drive towards a more traditional national identity. Tajiks began Russifying their surnames while under Soviet rule
Published 30 Apr, 2016 12:00am
Daily trading report of PMEX
Exchange

Daily trading report of PMEX

On Thursday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 7,894 million and the number of lots traded was 35.67 million. PMEX Commodity Index closed at 2,849. Major business was contributed by gold amounting to PKR 7,416 million followed b
Published 30 Apr, 2016 12:00am
First US Zika-related death in Puerto Rico

First US Zika-related death in Puerto Rico

The first Zika-related death on US soil was reported Friday in Puerto Rico, raising new concerns about the dangers of the mosquito-borne virus. "The patient died of complications related to severe thrombocytopenia," a poor clotting condition related to a
Published 30 Apr, 2016 12:00am
US natural gas futures fall on milder weather outlook
Exchange

US natural gas futures fall on milder weather outlook

US natural gas futures fell nearly 2 percent on Wednesday, losing ground for a third straight session on expectations of lower heating and cooling demand due to forecasts for near-normal temperatures over the next two weeks. On its last day of trading, Ma
Published 30 Apr, 2016 12:00am
India releases income tax data after Piketty criticism

India releases income tax data after Piketty criticism

Only about two percent of Indians filed income tax returns in 2013, long-awaited official data showed Friday, highlighting an exceptionally low tax base that constrains public spending in the world''s second-most populous nation. The government was nudged
Published 30 Apr, 2016 12:00am
CBOT wheat futures lower

CBOT wheat futures lower

US wheat futures weakened on Wednesday, pressured by profit-taking following two days of grains, traders said. Rain in the US Plains were seen as beneficial for crop development in that key growing region, adding to the bearish tone hanging over the wheat
Published 30 Apr, 2016 12:00am
India releases income tax data after Piketty criticism

India releases income tax data after Piketty criticism

Only about two percent of Indians filed income tax returns in 2013, long-awaited official data showed Friday, highlighting an exceptionally low tax base that constrains public spending in the world's second-most populous nation. The government was nudged
Published 30 Apr, 2016 12:00am
Spanish banks' income drop overshadows capital improvement

Spanish banks' income drop overshadows capital improvement

Spain's BBVA and Caixabank both reported a fall in net interest income in the first three months of the year, overshadowing capital improvements and sending their shares lower on Thursday. BBVA and Caixabank have contrasting business models, with BBVA dra
Published 30 Apr, 2016 12:00am
India releases income tax data after Piketty criticism

India releases income tax data after Piketty criticism

Only about two percent of Indians filed income tax returns in 2013, long-awaited official data showed Friday, highlighting an exceptionally low tax base that constrains public spending in the world's second-most populous nation. The government was nudged
Published 30 Apr, 2016 12:00am
Kenya bank bad debts jump to eight percent in March

Kenya bank bad debts jump to eight percent in March

Kenyan banks' non-performing loans rose to 8 percent of the total in March from 5.7 percent in the same period last year, the central bank said. The latest figures, which are likely to add to worries over the health of the sector, were contained in a pres
Published 30 Apr, 2016 12:00am
GST on POL products reduced

GST on POL products reduced

The Federal Board of Revenue (FBR) has reduced sales tax on all petroleum products, including motor spirit on which sales tax has been brought down from Rs 12.89 per litre to Rs 9.89 per litre from May 1, 2016. The FBR has issued SRO.369(I)/2016 here on F
Published 30 Apr, 2016 12:00am
Japan likely escaped recession in Q1 but outlook remains weak

Japan likely escaped recession in Q1 but outlook remains weak

Japan probably narrowly escaped recession in the first quarter but weak domestic and external demand and a strong yen will keep a lid on any recovery, a Reuters poll showed. Gross domestic product (GDP) likely expanded at an annualised 0.6 percent in Janu
Published 30 Apr, 2016 12:00am
GST on POL products reduced

GST on POL products reduced

The Federal Board of Revenue (FBR) has reduced sales tax on all petroleum products, including motor spirit on which sales tax has been brought down from Rs 12.89 per litre to Rs 9.89 per litre from May 1, 2016. The FBR has issued SRO.369(I)/2016 here on F
Published 30 Apr, 2016 12:00am
Bombardier sells 75 CS100 planes to Delta in $5.6 billion deal
Exchange

Bombardier sells 75 CS100 planes to Delta in $5.6 billion deal

US-based Delta Air Lines has placed an order for 75 CS100 Bombardier aircraft with an option to purchase 50 more in a deal worth US $5.6 billion, the struggling Canadian aviation giant said Thursday. The contract is a lifeline for Bombardier, which has be
Published 30 Apr, 2016 12:00am
GST on POL products reduced

GST on POL products reduced

The Federal Board of Revenue (FBR) has reduced sales tax on all petroleum products, including motor spirit on which sales tax has been brought down from Rs 12.89 per litre to Rs 9.89 per litre from May 1, 2016. The FBR has issued SRO.369(I)/2016 here on F
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
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
The anatomy of democratic politics

The anatomy of democratic politics

In Pakistan, citizens' participation in affairs of state is limited to their showing up at occasional public rallies every few days or weeks, and their going to voting booths every few years. By doing so, they somehow authorise candidates of their choice
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
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
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