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Jan 31, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-05-01
US puts countries with big surpluses on monitoring list
Exchange

US puts countries with big surpluses on monitoring list

The United States on Friday flagged concerns over economic policies in China, Japan, Korea, Taiwan and Germany and put them on a new monitoring list, mostly due to their large surpluses. It is the first time the US Treasury has implemented provisions pass
Published 01 May, 2016 12:00am
PSM officers seek implementation of ad hoc relief

PSM officers seek implementation of ad hoc relief

Pakistan Steel Mills (PSM) officers Saturday called for implementation of ad hoc relief allowances and revision in pay scales announced in annual budgets. On behalf of all officers of Pakistan Steel Mills, Mirza Maqsood Ahmed Secretary Pakistan Steel Offi
Published 01 May, 2016 12:00am
MQM demands release of Mirpurkhas-based activist

MQM demands release of Mirpurkhas-based activist

Muttahida Qaumi Movement's (MQM) Convener in London Nadeem Nusrat demanded the federal and provincial governments to immediately recover Farooq Durrani; newly elected councillor and member zonal committee Mirpurkhas from the forceful disappearance after h
Published 01 May, 2016 12:00am
Dr Asim case: absence of medical bills causes tension

Dr Asim case: absence of medical bills causes tension

Medical bills, related to the treatment of the terrorists brought to the hospital of Pakistan Peoples' Party (PPP) leader Dr Asim Hussain, have gone missing which has resulted in giving rise to tensions between the Rangers and the police regarding the ong
Published 01 May, 2016 12:00am
Pesco chief pays tribute to workers

Pesco chief pays tribute to workers

Chief Executive Officer (CEO), Peshawar Electric Supply Company (Pesco) Anwar-ul-Haq Yousafzai has termed the staff of the company a precious asset, which despite sizzling heat and freezing cold rendering remarkable services for the country. In a message
Published 01 May, 2016 12:00am
Fitness and fielding play vital role in cricket: PCB chief

Fitness and fielding play vital role in cricket: PCB chief

Pakistan Cricket Board (PCB) Chairman Shaharyar Khan has said that coaching camp organized by Wapda is of immense importance because fitness and fielding play vital role in cricket. Speaking at the closing ceremony of a 5-day working camp for young emergi
Published 01 May, 2016 12:00am
Ding reaches first World Snooker final

Ding reaches first World Snooker final

China's Ding Junhui was just one match away from becoming Asia's first world snooker champion after seeing off Alan McManus 17-11 in a semi-final win on Saturday. The 29-year-old Ding reached his first World Championship final in record style, with a brea
Published 01 May, 2016 12:00am
Safarova wins Prague Open

Safarova wins Prague Open

Lucie Safarova won her first title of the year by defeating Samantha Stosur of Australia 3-6, 6-1, 6-4 on clay in the Prague Open final on Saturday. Ranked 16th in the world, Safarova defeated fellow Czech Karolina Pliskova to get into the final, while St
Published 01 May, 2016 12:00am
Ghazala upsets Anmol in Shuhada-e-Army Badminton

Ghazala upsets Anmol in Shuhada-e-Army Badminton

Ghazala of Punjab upset Anmol of Wapda in the ladies singles event of the All Pakistan Shuhada-e-Army National Ranking Badminton Tournament being played at Peshawar Services Club Saturday. It was off-day for Anmol of Wapda as she tried her hard to win bac
Published 01 May, 2016 12:00am
India announce West Indies tour to revive ties

India announce West Indies tour to revive ties

India will tour West Indies in July-August for a four-match Test series which will mark the resumption of bilateral ties between them, the cricket boards announced on Saturday. Relations between the two boards turned sour after a visiting Caribbean team p
Published 01 May, 2016 12:00am
More misery for Hamilton as Rosberg takes pole in Russia

More misery for Hamilton as Rosberg takes pole in Russia

Formula One championship leader Nico Rosberg seized pole position for the Russian Grand Prix on Saturday after a power unit failure piled more misery on Mercedes team mate Lewis Hamilton. The German, chasing his seventh successive win and fourth of the se
Published 01 May, 2016 12:00am
Townsend lifts Newcastle, Defoe saves Sunderland

Townsend lifts Newcastle, Defoe saves Sunderland

Andros Townsend scored a stunning free-kick as Newcastle United edged Crystal Palace 1-0 on Saturday and escaped the Premier League relegation zone at the expense of northeast rivals Sunderland. Townsend netted with a sensational shot in the 58th minute a
Published 01 May, 2016 12:00am
Kyrgios slumps to Almagro defeat at Estoril

Kyrgios slumps to Almagro defeat at Estoril

Australia's Nick Kyrgios lost his chance to reach a second straight final at the Estoril Open when he went down to a 6-3, 7-5 defeat to Nicolas Almagro on Saturday. The semi-final victory by the experienced Almagro set up an all-Spanish final against Pabl
Published 01 May, 2016 12:00am
Murray insists Djokovic can be beaten as big four reunite in Madrid

Murray insists Djokovic can be beaten as big four reunite in Madrid

World number one Novak Djokovic returns to the Madrid Masters for the first time in three years, aiming to forget his blip at the Monte Carlo Masters with a strong challenge expected from a resurgent Rafael Nadal. Djokovic was stunned in his opening match
Published 01 May, 2016 12:00am
Bale winner puts Madrid on top of La Liga

Bale winner puts Madrid on top of La Liga

Gareth Bale's thunderous header 10 minutes from time moved an under-strength Real Madrid to the top of La Liga with a hard-fought 1-0 win at Real Sociedad on Saturday. In the absence of the injured Cristiano Ronaldo and Karim Benzema, Bale stood out with
Published 01 May, 2016 12:00am
Saudi riyal peg pressure eases, but not gone
Exchange

Saudi riyal peg pressure eases, but not gone

This year's oil price bounce has eased pressure from the Saudi riyal's dollar peg but volatile energy swings mean the currency remains vulnerable, especially if Riyadh fails to deliver fast on its reform plans. The world's top oil exporter has pegged the
Published 01 May, 2016 12:00am
Mideast funds reduce cash as markets find floors
Exchange

Mideast funds reduce cash as markets find floors

Middle East fund managers are reducing their cash holdings and building back long positions in equities and fixed income because of signs that markets have bottomed out, a monthly Reuters poll shows. During the previous six months, many managers retreated
Published 01 May, 2016 12:00am
Mideast funds reduce cash as markets find floors
Exchange

Mideast funds reduce cash as markets find floors

Middle East fund managers are reducing their cash holdings and building back long positions in equities and fixed income because of signs that markets have bottomed out, a monthly Reuters poll shows. During the previous six months, many managers retreated
Published 01 May, 2016 12:00am
Brazil real hits eight-month high as Latam currencies rally
Currency

Brazil real hits eight-month high as Latam currencies rally

Brazil's real surged to an eight-month high on Friday, prompting the country's central bank to step up intervention to derail the rally, while Colombia and Mexico's pesos also hit their strongest levels this year. Dovish signs from the US Federal Reserve
Published 01 May, 2016 12:00am
US dollar net shorts hit highest in over 3 years

US dollar net shorts hit highest in over 3 years

Speculators' bearish bets on the US dollar hit their largest since February 2013, boosted by expectations that the Federal Reserve will take its time in raising interest rates this year, according to Reuters calculations and data from the Commodity Future
Published 01 May, 2016 12:00am
Dollar set to post worst week against yen since 2008
Exchange

Dollar set to post worst week against yen since 2008

The US dollar was on track for its biggest weekly percentage decline against the yen since the 2008 financial crisis in the aftermath of the Bank of Japan's decision not to ease policy further, while strong eurozone growth data boosted the euro. The dolla
Published 01 May, 2016 12:00am
Canadian dollar touches 80 US cents for first time in 10 months
Exchange

Canadian dollar touches 80 US cents for first time in 10 months

Canada's dollar ended little changed against a broadly weaker US counterpart on Friday as oil turned slightly lower and as corporate hedgers sold the currency after it reached 80 US cents for the first time in nearly 10 months. The loonie, as Canada's dol
Published 01 May, 2016 12:00am
Asia FX optimism eases with bearish yuan sentiment
Exchange

Asia FX optimism eases with bearish yuan sentiment

Emerging Asian currencies bulls stepped back during the last two weeks with bearish sentiment on China's yuan, a Reuters poll showed. However, positive views on regional currencies remained as the US Federal Reserves on Wednesday indicated it was not in a
Published 01 May, 2016 12:00am
Daily currency trading volumes fall to $4.7 trillion
Exchange

Daily currency trading volumes fall to $4.7 trillion

Global currency trading volumes fell back to well below $5 trillion a day in March as financial markets steadied after a volatile start to 2016, data from settlement company CLS showed on Wednesday. Instructions to CLS account for more than 90 percent of
Published 01 May, 2016 12:00am
Hong Kong yuan deposits down 5.5 percent in March
Currency

Hong Kong yuan deposits down 5.5 percent in March

Yuan deposits in Hong Kong, the world's biggest offshore yuan centre, fell 5.5 percent to 759.4 billion yuan ($117.30 billion) in March from the previous month, according to the Hong Kong Monetary Authority. Cross-border trade settlement amounted to 370.7
Published 01 May, 2016 12:00am
Serbia buys 10 million euros
Exchange

Serbia buys 10 million euros

The Serbian central bank bought 10 million euros ($11.3 million)on the domestic currency market on Thursday to stem dinar gains, it said. The bank said in a statement it intervened to prevent excessive fluctuation of the exchange rate of the dinar against
Published 01 May, 2016 12:00am
Wall Street falls as earnings weigh; Dow, S&P up for month
Exchange

Wall Street falls as earnings weigh; Dow, S&P up for month

US stocks posted their largest weekly drop in more than two months on Friday as earnings reports continued to weigh, but the S&P 500 and Dow managed to close up for April after strong showings mid-month. Company results once more gave the market direction
Published 01 May, 2016 12:00am
Treasuries outlook: US bond prices rise on weak data, stock losses

Treasuries outlook: US bond prices rise on weak data, stock losses

US Treasury debt prices rose in choppy trading on Friday as poor domestic data and a drop in US stock prices overshadowed news of strong quarterly growth in the euro zone in the first quarter, which had lifted German and US yields. The initial rise in US
Published 01 May, 2016 12:00am
Treasuries outlook: US bond prices rise on weak data, stock losses

Treasuries outlook: US bond prices rise on weak data, stock losses

US Treasury debt prices rose in choppy trading on Friday as poor domestic data and a drop in US stock prices overshadowed news of strong quarterly growth in the euro zone in the first quarter, which had lifted German and US yields. The initial rise in US
Published 01 May, 2016 12:00am
Abu Dhabi launches US $5 billion bond offering

Abu Dhabi launches US $5 billion bond offering

The Emirate of Abu Dhabi launched a US $5bn two-part bond offering Monday at the tight end of price guidance, according to one of the lead managers. Abu Dhabi launched a US $2.5bn five-year at 85bp over US Treasuries, the tight end of guidance of 85bp-90b
Published 01 May, 2016 12:00am
Abu Dhabi launches US $5 billion bond offering

Abu Dhabi launches US $5 billion bond offering

The Emirate of Abu Dhabi launched a US $5bn two-part bond offering Monday at the tight end of price guidance, according to one of the lead managers. Abu Dhabi launched a US $2.5bn five-year at 85bp over US Treasuries, the tight end of guidance of 85bp-90b
Published 01 May, 2016 12:00am
Glencore prices first bond since market lockout
Currency

Glencore prices first bond since market lockout

Glencore ended a year's hiatus in the bond markets Tuesday with a Swiss franc offering that priced much tighter than anything the embattled mining giant could have got in dollars or euros. But the company, locked out of the markets since a dire analyst wa
Published 01 May, 2016 12:00am
Glencore prices first bond since market lockout
Currency

Glencore prices first bond since market lockout

Glencore ended a year's hiatus in the bond markets Tuesday with a Swiss franc offering that priced much tighter than anything the embattled mining giant could have got in dollars or euros. But the company, locked out of the markets since a dire analyst wa
Published 01 May, 2016 12:00am
Too much dividend can be a turnoff, say investors

Too much dividend can be a turnoff, say investors

European companies are paying out the highest proportion of their earnings as dividends in more than 40 years, stoking fears among analysts over whether such payouts are sustainable. Investors have long grappled with the question of what companies should
Published 01 May, 2016 12:00am
TSX hits six-month high led by gold miners
Exchange

TSX hits six-month high led by gold miners

Canada's main stock index rose to a six-month high on Friday as mining stocks surged on higher gold and base metal prices, while shares of its largest airline jumped after quarterly results were reported. The index ended 3.4 percent higher for the month o
Published 01 May, 2016 12:00am
ECB free money no fix for companies' glum mood

ECB free money no fix for companies' glum mood

The European Central Bank's plan to buy company bonds has fired up credit markets, allowing big groups such as Magnum ice-cream maker Unilever to borrow almost for free, but its effect on the euro zone economy is likely to be small. Company debt is the la
Published 01 May, 2016 12:00am
Nasdaq Q1 profit up
Exchange

Nasdaq Q1 profit up

Trans-Atlantic exchange operator Nasdaq Inc on Thursday reported a rise in fourth quarter profit as acquisitions and growth from existing businesses drove revenues higher across its business units and cash equity trading volumes increased. Net income attr
Published 01 May, 2016 12:00am
Nigeria's Lagos state completes $840 million bond restructuring
Exchange

Nigeria's Lagos state completes $840 million bond restructuring

Nigeria's Lagos state government has restructured 167.5 billion naira ($840 million) of bonds, potentially saving at least 40 billion by paying off the debt more quickly, its governor said on Wednesday, without saying when payment would be made. Lagos, a
Published 01 May, 2016 12:00am
Nigeria's Lagos state completes $840 million bond restructuring
Exchange

Nigeria's Lagos state completes $840 million bond restructuring

Nigeria's Lagos state government has restructured 167.5 billion naira ($840 million) of bonds, potentially saving at least 40 billion by paying off the debt more quickly, its governor said on Wednesday, without saying when payment would be made. Lagos, a
Published 01 May, 2016 12:00am
Argentines in mass protest against layoffs

Argentines in mass protest against layoffs

Tens of thousands of Argentines marched in a noisy protest Friday against job cuts imposed under President Mauricio Macri's economic reforms. The demonstration virtually brought central Buenos Aires to a standstill amid a din of drums and chants. Two majo
Published 01 May, 2016 12:00am
Kenya's ARM Cement reports 2015 loss due to weaker currency
Exchange

Kenya's ARM Cement reports 2015 loss due to weaker currency

Kenya's ARM Cement reported on Saturday a pre-tax loss of 3.54 billion Kenyan shillings ($35 million) for the full year 2015 due to foreign exchange losses after notching up a profit of 2.02 billion shillings in 2014. ARM, the second biggest cement produc
Published 01 May, 2016 12:00am
Kenya's ARM Cement reports 2015 loss due to weaker currency
Exchange

Kenya's ARM Cement reports 2015 loss due to weaker currency

Kenya's ARM Cement reported on Saturday a pre-tax loss of 3.54 billion Kenyan shillings ($35 million) for the full year 2015 due to foreign exchange losses after notching up a profit of 2.02 billion shillings in 2014. ARM, the second biggest cement produc
Published 01 May, 2016 12:00am
Blacklisted oil tanker returns to Libya

Blacklisted oil tanker returns to Libya

A tanker that Libya's eastern government had been using to try to export oil in defiance of the rival administration in Tripoli returned to the country on Saturday, after it was blacklisted by the United Nations, a source said on Saturday. The eastern gov
Published 01 May, 2016 12:00am
US, European trade negotiators battle political headwinds

US, European trade negotiators battle political headwinds

Facing deeply entrenched differences and political headwinds, the top negotiators trying to reach a sweeping US-European free trade deal avoided agriculture, public procurement and other thorny issues in talks this week. Instead, Assistant US Trade Repres
Published 01 May, 2016 12:00am
State Grid, Enel place bids for Brazil's Renova stake

State Grid, Enel place bids for Brazil's Renova stake

State Grid Corp, China Three Gorges Corp and Italy's Enel SpA have placed bids for a 16 percent stake in Brazilian renewable energy company Renova Energia SA, which needs fresh capital following a failed asset sale last year, three sources with direct kno
Published 01 May, 2016 12:00am
Venezuela Amuay cat cracker halted, refinery at half capacity

Venezuela Amuay cat cracker halted, refinery at half capacity

The catalytic cracker at Venezuelan state oil company PDVSA's 645,000 barrel per day (bpd) Amuay refinery was halted on Thursday, and the refinery was operating at around 335,000 bpd, according to a union leader. The cat crackers at the adjacent Cardon re
Published 01 May, 2016 12:00am
Facebook hit with lawsuit over plan to issue new stock
Kerb

Facebook hit with lawsuit over plan to issue new stock

A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company's plan to issue new Class C stock, calling the move an unfair deal to entrench Chief Executive Mark Zuckerberg as controlling shareholder. The lawsuit,
Published 01 May, 2016 12:00am
Air France-KLM to name Jean-Marc Janaillac as new CEO

Air France-KLM to name Jean-Marc Janaillac as new CEO

Air France-KLM's board is to appoint Jean-Marc Janaillac as the Franco-Dutch airline group's next chief executive on Tuesday to replace Alexandre de Juniac, a source close to the matter said on Saturday. Frederic Gagey would remain as head of Air France,
Published 01 May, 2016 12:00am
Italy passes decree to speed up recovery of bad loans

Italy passes decree to speed up recovery of bad loans

Italian Prime Minister Matteo Renzi's government on Friday passed a decree to speed up the recovery of unpaid credit in a banking system saddled with billions of euros in bad loans. Italy's lenders have some 360 billion euros ($410 billion) in bad loans o
Published 01 May, 2016 12:00am
US Gulf crude pipeline flows to Midwest reach record lows in Feb

US Gulf crude pipeline flows to Midwest reach record lows in Feb

The US Gulf Coast shipped record low crude volumes via pipeline to the Midwest in February, federal data released Friday showed, the latest evidence of how the North America energy boom has shifted trade flows. The Gulf Coast sent 615,000 barrels-per-day
Published 01 May, 2016 12:00am
Dole under US probe after deadly Listeria outbreak

Dole under US probe after deadly Listeria outbreak

Dole Food Co Inc said on Friday the US Department of Justice was investigating a deadly Listeria monocytogenes outbreak linked to packaged salad products from its processing plant in Springfield, Ohio. Dole, the world's largest fruit and vegetable produce
Published 01 May, 2016 12:00am
Role of SJC: chief of PBC body moves SC

Role of SJC: chief of PBC body moves SC

The Supreme Court was urged on Saturday for issuing directives for expeditious disposal of complaints and references filed against superior court judges pending with the Supreme Judicial Council (SJC). Muhammad Raheel Kamran Sheikh, Chairman Rules and Hum
Published 01 May, 2016 12:00am
Role of SJC: chief of PBC body moves SC

Role of SJC: chief of PBC body moves SC

The Supreme Court was urged on Saturday for issuing directives for expeditious disposal of complaints and references filed against superior court judges pending with the Supreme Judicial Council (SJC). Muhammad Raheel Kamran Sheikh, Chairman Rules and Hum
Published 01 May, 2016 12:00am
South Africa seen cutting maize forecast by 5.5 percent

South Africa seen cutting maize forecast by 5.5 percent

South Africa will cut its 2016 maize forecast by 5.5 percent after late rains failed to compensate for a blistering drought, a Reuters poll of five traders and market analysts showed on Tuesday. The official Crop Estimates Committee (CEC), which will prov
Published 01 May, 2016 12:00am
Vietnam's rubber exports may drop to one million tonnes in 2016

Vietnam's rubber exports may drop to one million tonnes in 2016

Vietnam's natural rubber exports this year could drop 12 percent from 2015 to a six-year low at around 1 million tonnes, as part of the country's commitment to curb supplies and help stabilise prices, an industry official said on Thursday. Benchmark rubbe
Published 01 May, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (April 30, 2016).

Published 01 May, 2016 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (April 30, 2016).

Published 01 May, 2016 12:00am
The Weather

The Weather

The weather report on Saturday (April 30, 2016) and the forecast for Sunday (April 24, 2016).

Published 01 May, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (April 30, 2016).

Published 01 May, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (April 30, 2016)

Published 01 May, 2016 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (April 30, 2016).

Published 01 May, 2016 12:00am
Grain market rates
Cotton

Grain market rates

Karachi grain market rates in rupees on Saturday (April 30, 2016).

Published 01 May, 2016 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (April 30, 2016).

Published 01 May, 2016 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (April 30, 2016).

Published 01 May, 2016 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (April 30, 2016).

Published 01 May, 2016 12:00am
THE RUPEE: firm trend
Currency

THE RUPEE: firm trend

The rupee was firm against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee stayed put in terms of the dollar for buying and selling at Rs 105.00 and Rs 105.20 respectively, they said, adding it continued slide
Published 01 May, 2016 12:00am
THE RUPEE: firm trend
Currency

THE RUPEE: firm trend

The rupee was firm against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee stayed put in terms of the dollar for buying and selling at Rs 105.00 and Rs 105.20 respectively, they said, adding it continued slide
Published 01 May, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (April 30, 2016).

Published 01 May, 2016 12:00am
Palm oil lower on European vegoils market
Vegetable Oil

Palm oil lower on European vegoils market

Palm oil on the European vegetable oils market was offered slightly easier on Thursday, tracking continued weakness in Malaysian palm oil futures due to bearish sentiment. "Markets moved mostly sideways with the bears directing the trend at the moment as
Published 01 May, 2016 12:00am
German finance minister criticises Volkswagen management over bonuses

German finance minister criticises Volkswagen management over bonuses

Germany's finance minister Wolfgang Schaeuble has criticised the executive board of scandal-ridden carmaker Volkswagen for not waiving bonuses despite bringing the company to the brink of collapse. "I have no sympathy for managers who first drive a large
Published 01 May, 2016 12:00am
Berkshire preliminary Q1 operating profit falls

Berkshire preliminary Q1 operating profit falls

Warren Buffett on Saturday said preliminary first-quarter profit at his Berkshire Hathaway Inc fell about 12 percent, hurt by weaker performance in its railroad and insurance operations. Quarterly operating profit for the Omaha, Nebraska-based insurance a
Published 01 May, 2016 12:00am
Berkshire preliminary Q1 operating profit falls

Berkshire preliminary Q1 operating profit falls

Warren Buffett on Saturday said preliminary first-quarter profit at his Berkshire Hathaway Inc fell about 12 percent, hurt by weaker performance in its railroad and insurance operations. Quarterly operating profit for the Omaha, Nebraska-based insurance a
Published 01 May, 2016 12:00am
German public sector agrees two-stage pay hike of 4.75 percent

German public sector agrees two-stage pay hike of 4.75 percent

The German government and unions have agreed on a two-stage wage increase of 4.75 percent over this year and next for more than 2 million public sector employees at the federal and municipal level, the Interior Ministry said on Friday. Strong domestic dem
Published 01 May, 2016 12:00am
Apple, ANZ Bank strike deal to bring Apple Pay to Australia

Apple, ANZ Bank strike deal to bring Apple Pay to Australia

Apple Inc expanded its Apple Pay digital wallet in Australia on Thursday after ANZ became the country's first bank to support the mobile payment service, executives at the pair told Reuters. Apple Pay allows users to register credit cards on devices such
Published 01 May, 2016 12:00am
Vodafone picks BofA, Kotak, UBS, other banks for India IPO

Vodafone picks BofA, Kotak, UBS, other banks for India IPO

British telecoms operator Vodafone has picked Bank of America Merrill Lynch (BofA), Kotak Investment Banking and UBS as joint global coordinators of its Indian unit's IPO, people familiar with the matter said, kicking off its long-awaited listing plan.
Published 01 May, 2016 12:00am
Buffett defends Berkshire's big Coke stake

Buffett defends Berkshire's big Coke stake

Warren Buffett on Saturday vigorously defended Berkshire Hathaway Inc's large, long-standing investment in Coca-Cola Co, rejecting critics who say the company's sugary drinks harm people's health. Speaking at Berkshire's annual shareholder meeting in Omah
Published 01 May, 2016 12:00am
Chinese consortium offers 700 million euros for AC Milan

Chinese consortium offers 700 million euros for AC Milan

A Chinese consortium has offered to buy AC Milan soccer club, one of former Italian premier Silvio Berlusconi's most cherished assets, two sources familiar with the matter said on Friday. The offer values the club the four-times prime minister refers to a
Published 01 May, 2016 12:00am
AIG selling down $1.2 billion stake in Chinese insurer PICC P&C

AIG selling down $1.2 billion stake in Chinese insurer PICC P&C

American International Group is offering for sale about $1.2 billion worth of shares in China's PICC Property and Casualty Co Ltd (PICC P&C) in a block deal, IFR said on Saturday, citing a term sheet of the deal. AIG's stake sale is among the biggest bloc
Published 01 May, 2016 12:00am
Mexico anti-corruption bill hits hurdle

Mexico anti-corruption bill hits hurdle

The Mexican government's pledge to tackle graft suffered a setback on Friday when Congress entered its summer recess having failed to pass anti-corruption legislation that has been stuck in political limbo for months. Harried by accusations of corruption,
Published 01 May, 2016 12:00am
Oman plans to build oil storage terminal near Duqm

Oman plans to build oil storage terminal near Duqm

Oman plans to build a major oil storage terminal on its southeastern coast, spending between $300 million and $400 million on the first phase, Minister of Oil and Gas Mohammad bin Hamad al-Rumhy said on Saturday. It will be built by a subsidiary of state-
Published 01 May, 2016 12:00am
Cold front likely to hit Brazil's farm belt this week

Cold front likely to hit Brazil's farm belt this week

A cold front is expected to hit Brazil's agricultural belt this week, bringing rain to end a dry spell that has damaged the second of two annual corn crops, a meteorologist said on Monday. "With the advance of this meteorological system to Brazil's interi
Published 01 May, 2016 12:00am
European wheat prices higher on export demand

European wheat prices higher on export demand

European wheat prices rose on Thursday, buoyed by US markets where prices surged on signs of strong export demand. May milling wheat settled 1.75 euros or 1.2 percent higher at 153 euros a tonne. New crop September rose 2.75 euros or 1.7 percent to 164.75
Published 01 May, 2016 12:00am
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