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May 12, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-05-15
Wall Street drops at end of tough week for retailers

Wall Street drops at end of tough week for retailers

US stocks fell on Friday as a decline in oil prices added to pressure from consumer companies after gloomy quarterly reports from Nordstrom and J.C. Penney overshadowed upbeat April retail sales data. The decline in the department stores' shares marked th
Published 15 May, 2016 12:00am
CASA-1000 project to help boost Pakistan's economy: FCCI

CASA-1000 project to help boost Pakistan's economy: FCCI

Faisalabad Chamber of Commerce and Industry (FCCI), acting president, Syed Zia Alamdar Hussain has welcomed the ground breaking ceremony of CASA-1000 that will provide 1000 MW electricity to Pakistan's energy starved economy. In a statement issued here on
Published 15 May, 2016 12:00am
Non-bailable arrest warrants issued for Merchant

Non-bailable arrest warrants issued for Merchant

A local court in Karachi on Saturday issued non-bailable arrest warrants for UK-based Pakistani businessman Sarfraz Merchant again in fraud case. Judicial Magistrate South was hearing the fraud case against Merchant and during the hearing the court issued
Published 15 May, 2016 12:00am
Government spending Rs 16 billion on FATA development

Government spending Rs 16 billion on FATA development

The federal government is spending over sixteen billion rupees on development of Federally Administered Tribal Areas. This was revealed during a meeting chaired by Minister of State for Parliamentary Affairs and in charge Minister of Prime Minister's Publ
Published 15 May, 2016 12:00am
Executions in BD: JI urges government to table joint resolution

Executions in BD: JI urges government to table joint resolution

Interior Minister Chaudhry Nisar Ali Khan on Saturday contacted JI Chief Sirajul Haq and consulted him on adopting a joint strategy to pass a joint resolution of the National Assembly against the execution of JI leader in Bangladesh. The two leaders also
Published 15 May, 2016 12:00am
Panama leaks: Tareen urges government to hold talks with opposition

Panama leaks: Tareen urges government to hold talks with opposition

Pakistan Tehreek-e-Insaf (PTI) leader Jahangir Tareen on Saturday urged the government to hold negotiations with the opposition parties at the earliest to resolve Panama leak issue before budget. While talking to newsmen in Multan, Jahangir Tareen said th
Published 15 May, 2016 12:00am
UMT grants scholarships to deserving students

UMT grants scholarships to deserving students

The University of Management and Technology over a period of a decade has granted scholarships worth one billion rupees to deserving students hailing from the country's remote areas. In the university, knowledge is superior to bursary; recipients of schol
Published 15 May, 2016 12:00am
Musharraf an 'absconder' Court reserves verdict on plea

Musharraf an 'absconder' Court reserves verdict on plea

A local court Saturday reserved its decision on a plea to declare President Pervez Musharraf an 'absconder' in Ghazi Abdul Rashid murder case. Additional Sessions Judge Pervez-ul-Qadir Memon heard the plea. During the hearing, Musharraf's guarantors Nazee
Published 15 May, 2016 12:00am
Panama Papers: government, opposition should frame joint ToRs: Siraj

Panama Papers: government, opposition should frame joint ToRs: Siraj

JI Pakistan Chief Senator Sirajul Haq has said the government and the opposition should hold talks to formulate joint ToRs for inquiry commission to investigate Panama Papers. According to JI media cell Lahore, Siraj while addressing a public meeting in B
Published 15 May, 2016 12:00am
Rain-thunderstorms forecast across upcountry

Rain-thunderstorms forecast across upcountry

The Met Office on Saturday forecast rain-thunderstorms and gusty winds at isolated places across upcountry in the next 24 hours. It said that hot and dry weather is likely to grip other parts of the country. "Low pressure area lies over north Balochistan
Published 15 May, 2016 12:00am
PFA seals several food outlets

PFA seals several food outlets

Punjab Food Authority on Saturday inspected eight different food making houses and fined several others after being found guilty of selling off unhygienic food or juices.
Published 15 May, 2016 12:00am
PML-N gave chance to PTI to form government in KP: Sabir

PML-N gave chance to PTI to form government in KP: Sabir

Pakistan Muslim League-Nawaz provincial President Pir Sabir Shah has said that Pakistan Tehreek-e-Insaf was unable to form government in Khyber Pakhtunkhwa but Prime Minister Nawaz Sharif gave it a chance to come into power so that masses could judge its
Published 15 May, 2016 12:00am
Economic zones should be set up for strengthening industrial base: PIAF

Economic zones should be set up for strengthening industrial base: PIAF

Pakistan Industrial and Traders Associations Front (PIAF) Chairman Irfan Iqbal Sheikh has said that industrial estates and economic zones should be established throughout the country for strengthening industrial base and putting the economy back on tacks.
Published 15 May, 2016 12:00am
Nankana Sahib: Operation against land grabbers to continue: Farooq

Nankana Sahib: Operation against land grabbers to continue: Farooq

Chairman Evacuee Trust Property Board (ETPB) Siddiqul Farooq on Saturday said that legal action would be taken against responsible persons involved in incident of Nankana Sahib. Addressing a pressing conference at Nankana Sahib, he said the clash occurred
Published 15 May, 2016 12:00am
Prime Minister leaves for Turkey to seek Erdogan's advice

Prime Minister leaves for Turkey to seek Erdogan's advice

Prime Minister Nawaz Sharif departed on Saturday for Turkey amid building pressure over the Panama Papers, to seek advice. The premier's visit is said to last for just a day and he is being accompanied by his wife Kulsoom Nawaz. According to reports, duri
Published 15 May, 2016 12:00am
Islamabad police accused of failing to bust criminal gangs
Currency

Islamabad police accused of failing to bust criminal gangs

Islamabad police have failed to bust active criminal gangs as during the last week dacoits and thieves made over 14 strikes in various areas of the metropolis and deprived citizens of their belongings worth millions of rupees, according to police record.
Published 15 May, 2016 12:00am
First BOT-based project in Punjab completed

First BOT-based project in Punjab completed

The first ever development project in Punjab on Build Operate Transfer (BOT) basis, with private investment, has been executed as more than 98 per cent construction work of fly over at Kahana Railway Crossing in Lahore, has been completed. Director Genera
Published 15 May, 2016 12:00am
PEMRA adjourns hearing of various complaints

PEMRA adjourns hearing of various complaints

The PEMRA said Saturday it has deferred till next meeting hearing of a complaint filed by Finance Minister Ishaq Dar on the request of his legal counsel, who requested adjournment for submitting his response on the written arguments given by ARY News. The
Published 15 May, 2016 12:00am
Australia reaffirms hard-line immigration policy

Australia reaffirms hard-line immigration policy

Australia on Saturday defended its hardline immigration policy after two asylum-seeker deaths, weeks of protests and several medical evacuations from a camp in the tiny Pacific Island nation of Nauru. Prime Minister Malcolm Turnbull said Australia's polic
Published 15 May, 2016 12:00am
IS attacks Syria hospital, kills 20, takes hostages: monitor

IS attacks Syria hospital, kills 20, takes hostages: monitor

The Islamic State jihadist group on Saturday overran a government-controlled hospital in eastern Syria, killing 20 members of pro-regime forces and taking medical staff hostage, a monitor said. The Syrian Observatory for Human Rights said the jihadists at
Published 15 May, 2016 12:00am
Protests loom as Venezuela enters state of emergency

Protests loom as Venezuela enters state of emergency

Venezuela braced for protests Saturday after President Nicolas Maduro declared a state of emergency to combat the "foreign aggression" he blamed for an economic crisis that has pushed the country to the brink of collapse. The opposition called on proteste
Published 15 May, 2016 12:00am
UN ready to take measures to overcome Guinea-Bissau crisis

UN ready to take measures to overcome Guinea-Bissau crisis

The UN Security Council said Friday it was ready to take "necessary measures" to overcome the crisis in Guinea-Bissau after the president sacked the government and demanded that the ruling party choose a new cabinet. The 15-member council said in a unanim
Published 15 May, 2016 12:00am
Anti-Israel cartoon contest opens in Tehran

Anti-Israel cartoon contest opens in Tehran

A contest of anti-Israeli cartoons opened Saturday in the Iranian capital, with many entries deriding Prime Minister Benjamin Netanyahu and his government's Middle East policies. The exhibition, totalling 150 entries from 50 countries, was launched on the
Published 15 May, 2016 12:00am
Taliban bomber kills three at Afghan police training centre

Taliban bomber kills three at Afghan police training centre

A Taliban suicide bomber detonated an explosive-laden car at a police training centre in the opium-rich southern province of Helmand Saturday, killing at least three people and wounding nine others, officials said. The attack in Nad Ali district comes in
Published 15 May, 2016 12:00am
DR Congo denies getting pistols from North Korea

DR Congo denies getting pistols from North Korea

The Congolese government on Saturday denounced as an "outright lie" claims in a UN confidential report its soldiers and police have been equipped with pistols from North Korea in violation of international sanctions. "It's an outright lie. There hasn't be
Published 15 May, 2016 12:00am
Russia says yacht detained by North Korea

Russia says yacht detained by North Korea

A Russian yacht has been detained by North Korean coastguards in the Sea of Japan with five crew on board and towed in to land, Russian officials said Saturday. "The North Korean side has communicated that the yacht has been taken to the port of Kimchaek,
Published 15 May, 2016 12:00am
Italian fertility doctor under arrest for eggs 'theft'

Italian fertility doctor under arrest for eggs 'theft'

A controversial Italian gynaecologist famed for helping women in their 60s to have children is under house arrest in Rome on suspicion of removing eggs from a patient's ovaries without her consent. Lawyers for Severino Antinori, who has been nicknamed the
Published 15 May, 2016 12:00am
Turkey president's daughter marries in Istanbul

Turkey president's daughter marries in Istanbul

Turkish President Recep Tayyip Erdogan on Saturday saw his younger daughter Sumeyye marry defence industrialist Selcuk Bayraktar at a large-scale and high security ceremony in Istanbul. Turkish media pictures earlier showed Sumeyye, 30, wearing an Islamic
Published 15 May, 2016 12:00am
Germany sees more arson fires at refugee centres

Germany sees more arson fires at refugee centres

German authorities on Saturday reported an increase in the number of arson fires at shelters for refugees who flooded Germany last year, raising concerns about anti-migrant violence. "This year, there have already been 45 arson fires," said Holger Muench,
Published 15 May, 2016 12:00am
Two Indian reporters shot dead in less than 24 hours

Two Indian reporters shot dead in less than 24 hours

Gunmen shot dead two journalists in 24 hours in separate incidents in eastern India, police and local reports said Saturday, the latest media killing in Asia's deadliest country for reporters. Rajdeo Ranjan, the local bureau chief for Hindi-language daily
Published 15 May, 2016 12:00am
Spanish foreign minister visits Cuba

Spanish foreign minister visits Cuba

Spain's foreign minister was in Cuba on Saturday for a bilateral visit that comes two months after the European Union and the communist-run country signed a deal to normalize relations. Jose Manuel Garcia-Margallo landed in the capital Havana late Friday,
Published 15 May, 2016 12:00am
Peru expels British woman convicted of drug trafficking

Peru expels British woman convicted of drug trafficking

Authorities in Peru said Friday they will expel a British woman in prison since 2013 after being convicted of trafficking cocaine. A court in Lima approved the expulsion of Briton Melissa Reid, granting a petition for her release filed by her attorneys. R
Published 15 May, 2016 12:00am
UN experts accuse Congo general of aiding attacks on civilians

UN experts accuse Congo general of aiding attacks on civilians

A Congolese general recruited, financed and armed elements of a Ugandan Islamist group to kill civilians while he was in charge of a military operation targeting the rebels, according to a confidential report to the United Nations Security Council. A pane
Published 15 May, 2016 12:00am
Argentina's Kirchner charged with fraud; assets frozen

Argentina's Kirchner charged with fraud; assets frozen

Assets belonging to former Argentine president Cristina Kirchner were frozen Friday after she was charged with damaging national finances by manipulating the Central Bank's exchange operations during her last months in office. Federal Judge Claudio Bonadi
Published 15 May, 2016 12:00am
Temer vows to get Brazil 'back on rails'

Temer vows to get Brazil 'back on rails'

Brazil's acting president Michel Temer vowed Friday to get Latin America's largest economy back on track after a cascade of crises put an end to 13 years of leftist rule. Temer presided over the first meeting of his new business-friendly cabinet, setting
Published 15 May, 2016 12:00am
Tajikistan leader creates holiday in his own honour

Tajikistan leader creates holiday in his own honour

Tajikistan's President Emomali Rakhmon on Saturday signed a law to create a holiday honouring his autocratic rule in a move that fuels fears of a burgeoning personality cult in the Central Asian state. Amendments to the Law on Holidays were passed without
Published 15 May, 2016 12:00am
25 Palestinian children killed in 3 months: UNICEF

25 Palestinian children killed in 3 months: UNICEF

Twenty-five Palestinian children were killed in the last three months of 2015 during a wave of anti-Israeli attacks and the number detained was the highest in seven years, the UN children's agency said. "Serious concerns arose regarding excessive use of f
Published 15 May, 2016 12:00am
Bosnian Serb leader supporters, opposition protest

Bosnian Serb leader supporters, opposition protest

Thousands of opponents and supporters of Milorad Dodik, head of the Bosnian Serb-run entity, held rival rallies in Banja Luka Saturday, accusing each other of corruption and treason. It was the biggest opposition protest against Dodik, who has ruled since
Published 15 May, 2016 12:00am
African-American history museum to fill void in downtown Washington

African-American history museum to fill void in downtown Washington

On a choice spot overlooking Washington's most stately monuments, a new museum swathed in bronze will showcase the tragedy and triumph of black America. The National Museum of African American History and Culture, 100 years in the making and now almost re
Published 15 May, 2016 12:00am
Pfizer takes 'significant' move to restrict lethal injection drugs

Pfizer takes 'significant' move to restrict lethal injection drugs

A decision by pharmaceutical giant Pfizer to restrict the distribution of its products used in lethal injections has cut off the last remaining approved source of drugs used to carry out the death penalty, experts said. Capital punishment observers on Sat
Published 15 May, 2016 12:00am
England series: Abbas underscores need for greater discipline, fitness

England series: Abbas underscores need for greater discipline, fitness

In a simmering build-up to the upcoming England series, the International Cricket Council president and former Pakistan captain Zaheer Abbas has stressed discipline and fitness, cautioning the team against the likely adverse conditions in England. Zaheer
Published 15 May, 2016 12:00am
Tri-series in Caribbean to make floodlight history

Tri-series in Caribbean to make floodlight history

The upcoming tri-series between the West Indies, South Africa and Australia will be the first series in history to see all matches played under floodlights, the West Indies Cricket Board (WICB) announced on Saturday. All 10 of the one-day internationals w
Published 15 May, 2016 12:00am
Shahid Javed shines in Nabi Yousaf Memorial Golf

Shahid Javed shines in Nabi Yousaf Memorial Golf

In the course of third day of the four days Nabi Yousaf Memorial Professional Golf Challenge Cup being contested at the Royal Palm Golf and Country Club Golf Course the Royal Palm ace Shahid Javed Khan stayed on track to manage and successfully retain occ
Published 15 May, 2016 12:00am
Guardiola signs off at Bayern with German league title

Guardiola signs off at Bayern with German league title

Pep Guardiola signed off his three years in the Bundesliga on Saturday as Bayern Munich lifted a fourth straight German league title after Saturday's 3-1 win over bottom-side Hanover. Poland hot-shot Robert Lewandowski finished as the Bundesliga's top sco
Published 15 May, 2016 12:00am
Indonesia applauds lifting of FIFA ban

Indonesia applauds lifting of FIFA ban

Indonesia on Saturday welcomed FIFA's decision to end the country's year-long ban from world football over government interference, saying it hoped for more transparency in the sport. FIFA president Gianni Infantino announced Friday that Indonesia had bee
Published 15 May, 2016 12:00am
Quaid Manga Club win in Fame Football League

Quaid Manga Club win in Fame Football League

The Quaid Manga Football Club beat their Ali Asghar counterparts 2-0 at the CU Park Campus United Football Ground in the Punjab University's New Campus in the super round of the second Fame Football League-2015-16. Although the match started with a typica
Published 15 May, 2016 12:00am
Mr Pakistan and Junior Mr Pakistan contests today

Mr Pakistan and Junior Mr Pakistan contests today

All is set to hold Mr Pakistan and Junior Mr Pakistan Bodybuilding contests for the first time in his history of the game will be held at scenic Swat today (Sunday). This has been stated by Secretary Pakistan Bodybuilding Federation Tariq Pervez. He said
Published 15 May, 2016 12:00am
Arsenal win women's FA Cup final in front of record crowd

Arsenal win women's FA Cup final in front of record crowd

Arsenal Ladies beat London rivals Chelsea Ladies 1-0 in the final of the Women's FA Cup in front of a competition record crowd of 32,912 at Wembley on Saturday. Danielle Carter scored the only goal of the game with an excellent first-half shot as Arsenal
Published 15 May, 2016 12:00am
Ireland's golf great O'Connor Snr dies

Ireland's golf great O'Connor Snr dies

Irish golf great and Ryder Cup stalwart Christy O'Connor Snr has died at the age of 91, it was announced Saturday. O'Connor, whose nephew and fellow professional golfer Christy O'Connor Jnr died in January, played in 10 consecutive Ryder Cups from 1955-19
Published 15 May, 2016 12:00am
Warner warning on pink ball

Warner warning on pink ball

Australia vice-captain David Warner has voiced concerns about the pink ball used for day-night Tests, a report said Saturday, amid a stand-off with South Africa over a proposed fixture. Cricket Australia want day-night Tests against South Africa and Pakis
Published 15 May, 2016 12:00am
Murray crushes Pouille to cruise into first Rome final

Murray crushes Pouille to cruise into first Rome final

Britain's Andy Murray qualified for his first Rome Masters final on Saturday after cruising past Frenchman Lucas Pouille 6-2, 6-1 in their rain-interrupted semi-final. Murray, the second seed in the Italian capital, swept past Belgium's David Goffin on Fr
Published 15 May, 2016 12:00am
Hull on top in semi-final against Derby

Hull on top in semi-final against Derby

Hull City took a giant leap towards the English Championship play-off final with a 3-0 victory at Derby County in the first leg of their semi-final on Saturday. Abel Hernandez opened the scoring with a 25-yard shot in the 30th minute and the Tigers double
Published 15 May, 2016 12:00am
Djilobodji saves Bremen, Langerak's Stuttgart go down

Djilobodji saves Bremen, Langerak's Stuttgart go down

Senegal international Papy Djilobodji kept Werder Bremen in the Bundesliga on Saturday with a dramatic 88th-minute goal to seal their 1-0 win over Eintracht Frankfurt while Stuttgart were relegated. His winning goal for Bremen capped a turbulent week for
Published 15 May, 2016 12:00am
Asia FX sentiment turns bearish on global growth fears
Currency

Asia FX sentiment turns bearish on global growth fears

Sentiment towards most emerging Asian currencies turned bearish over the last two weeks, largely due to concerns about slowing global growth, a Reuters poll showed on Thursday. The South Korean won saw the largest short positions since early March after e
Published 15 May, 2016 12:00am
Speculators pare net short dollar bets this week
Currency

Speculators pare net short dollar bets this week

Speculators reduced bets against the dollar for the first time in four weeks, as a recent batch of improving US economic data has boosted expectations the Federal Reserve could hike interest rates more than once this year. The value of the dollar's net sh
Published 15 May, 2016 12:00am
Japan to intervene if yen firms to 90-95/dollar: PM's adviser
Currency

Japan to intervene if yen firms to 90-95/dollar: PM's adviser

Japan will intervene in foreign exchange markets if the yen strengthens to 90-95 per dollar, even if that upsets the United States, a key economic adviser to Prime Minister Shinzo Abe said on Tuesday, asserting the right to curb currency volatility.
Published 15 May, 2016 12:00am
Dollar rises to two-week high in New York on positive US data
Currency

Dollar rises to two-week high in New York on positive US data

The dollar climbed to a two-week peak against a basket of currencies on Friday, as stronger-than-expected US economic data appeared to boost expectations the Federal Reserve may raise interest rates more than once this year. The move was the best two-week
Published 15 May, 2016 12:00am
Stuck with dangerous dollar dominance
Currency

Stuck with dangerous dollar dominance

The world is getting an object lesson on the problems of having one dominant global currency and even the supposed prime beneficiary, the United States, can see the downside. Alarming bouts of volatility in world financial markets over the past 12 months
Published 15 May, 2016 12:00am
Rwanda's franc likely to drop 8 percent this year: central bank
Currency

Rwanda's franc likely to drop 8 percent this year: central bank

Rwanda's franc is likely to fall 8 percent in 2016 and about 5 percent in each of the two following years, central bank governor John Rwangombwa said, as a construction boom fuels the demand for dollar-priced imports. Adding to the downward pressure on th
Published 15 May, 2016 12:00am
Canadian dollar weakens against broadly stronger greenback
Currency

Canadian dollar weakens against broadly stronger greenback

The Canadian dollar weakened against its US counterpart on Friday as oil fell and stronger-than-expected US data supported the greenback. Better news from Alberta this week, where some production restarted at oil sands facilities following a wildfire, has
Published 15 May, 2016 12:00am
China orders banks to clear hurdles slowing private sector lending

China orders banks to clear hurdles slowing private sector lending

China's banking regulator has sent an urgent notice to banks telling them to clear bottlenecks slowing lending to private firms, sources with direct knowledge told Reuters, highlighting rising concern in Beijing about torpid private investment. Chinese ba
Published 15 May, 2016 12:00am
Ivorian cocoa exporters trim mid-crop forecasts on dry weather

Ivorian cocoa exporters trim mid-crop forecasts on dry weather

Lingering dry weather in Ivory Coast's cocoa growing regions in defiance of the start of the rainy season in early April has led exporters to lower production forecasts for the March-to-April mid-crop harvest in the world's top grower. Ivory Coast harvest
Published 15 May, 2016 12:00am
Vietnam's rice prices steady, Thai's at nine-month highs

Vietnam's rice prices steady, Thai's at nine-month highs

Vietnamese rice export prices held steady on thin buying demand, partly after China slowed its cross-border purchases, while Thai prices stayed at nine-month highs, traders said on Wednesday. The 5 percent broken rice stood unchanged since late April at $
Published 15 May, 2016 12:00am
Oil cake market rates
Cotton

Oil cake market rates

An upward trend was seen on the forward cottonseeds oilcake market on Saturday in the process of trading, dealers said. The May vaida closed at Rs 2048.30 and it opened with 20 paisas gain at Rs 2048.50, they said. The July vaida settled at Rs 2050.10 and
Published 15 May, 2016 12:00am
Cotton market gains firmness on rise in trade activity
Cotton

Cotton market gains firmness on rise in trade activity

Steadier trend persisted on the cotton market on Saturday as volume of business showed further improvement in the process of trading, dealers said. The official spot rate was unchanged at Rs 5,650 dealers said. In the Punjab, prices showed no change at Rs
Published 15 May, 2016 12:00am
Argentina's rain-hit 2015-16 soya harvest seen at 55 million tonnes

Argentina's rain-hit 2015-16 soya harvest seen at 55 million tonnes

Argentina's Rosario grains exchange lowered on Wednesday its forecast for the 2015-16 soya harvest to 55 million tonnes, from a prior projection of 59 million tonnes, due to unusually heavy rains that hit production in April. The Rosario grains exchange s
Published 15 May, 2016 12:00am
CBOT wheat futures higher

CBOT wheat futures higher

Wheat futures on the Chicago Board of Trade closed higher on Tuesday, lifted by strength in soyabeans and corn, and by bargain-buying one day after values fell to four-week lows. Most-active CBOT July wheat settled up 4-3/4 cents at $4.61-1/4 per bushel.
Published 15 May, 2016 12:00am
Modest trade on grain market
Cotton

Modest trade on grain market

Modest trading activity was witnessed on the wholesale grain market on Saturday, dealers said. Most of the changes were seen in the cereals sector, Moong Afghan was lower by Rs 250 to Rs 11250, Masoor Dall low type gained Rs 100 to Rs 12600 and best type
Published 15 May, 2016 12:00am
US Plains HRW wheat bids mostly flat

US Plains HRW wheat bids mostly flat

Spot cash basis bids for hard red winter (HRW) wheat were mostly unchanged on Thursday in the southern US Plains and producer selling was minimal as K.C. HRW futures hovered near contract and multi-year lows, grain merchants said. The lone exception was t
Published 15 May, 2016 12:00am
Freight rates for large capesize dry cargo to stay unchanged

Freight rates for large capesize dry cargo to stay unchanged

Freight rates for large capesize dry cargo ships on key Asian routes are set to hold around the current levels next week, after having slipped to multi-week lows this week, as higher fuel prices provide support in a lacklustre cargo market, ship brokers s
Published 15 May, 2016 12:00am
Argentina dominates Brazil's corn imports, US still absent

Argentina dominates Brazil's corn imports, US still absent

Corn shipments from neighboring Argentina have dominated imports into Brazil since the country was forced to import larger amounts of the grain in March, including into the distant Northeast where some analysts thought US corn could arrive. Data from the
Published 15 May, 2016 12:00am
Vietnam's coffee prices near seven-month high

Vietnam's coffee prices near seven-month high

Coffee exports from top robusta producer Vietnam have been steady with some speculation emerging that prices could rise, while Indonesia's harvest is yet to accelerate, traders said on Thursday. ICE July robusta settled up 0.7 percent at $1,671 per tonne
Published 15 May, 2016 12:00am
US FOB Gulf soyabean premiums flat on slow exports

US FOB Gulf soyabean premiums flat on slow exports

Export premiums for soyabeans shipped from the US Gulf Coast were flat in quiet dealings on Thursday on weak demand as South American shipments dominated the global marketplace, traders said. US soyabeans are competitively priced for August shipment and b
Published 15 May, 2016 12:00am
China's steel, iron ore fall deeper into bear market territory
Cotton

China's steel, iron ore fall deeper into bear market territory

Chinese steel and iron ore futures fell deeper into bear market territory on Thursday, as the country's exchanges unveiled more measures aimed at dampening the type of speculative trading behind a powerful rally last month. The aggressive steps to limit s
Published 15 May, 2016 12:00am
Iranian private buyers purchase German wheat

Iranian private buyers purchase German wheat

Iranian private buyers have purchased at least 60,000 tonnes of wheat from Germany in recent weeks for shipment in late May, traders said on Tuesday. "I think Iran has a requirement for high quality wheat for blending with lower grades," one trader said.
Published 15 May, 2016 12:00am
Taiwan buys 109,965 tonnes of US wheat

Taiwan buys 109,965 tonnes of US wheat

The Taiwan Flour Millers' Association has bought 109,965 tonnes of milling wheat to be sourced from the United States in a tender which closed on Wednesday, European traders said. The wheat was bought for June/July shipment in two consignments, they said.
Published 15 May, 2016 12:00am
Jordan tenders to buy hard wheat, barley

Jordan tenders to buy hard wheat, barley

Jordan's state grain buyer has issued new international tenders to purchase 100,000 tonnes of hard milling wheat and 100,000 tonnes of animal feed barley both to be sourced from optional origins, European traders said on Thursday. Jordan has failed to mak
Published 15 May, 2016 12:00am
Chile to start Basel III process, strengthen banking system

Chile to start Basel III process, strengthen banking system

Chile said Thursday it was planning regulatory changes to strengthen its banking system, including working with all banks to ensure compliance with the Basel III set of global banking regulations. "We want to propose a law in Congress that basically moder
Published 15 May, 2016 12:00am
New York Fed defends fund transfer after Bangladesh heist

New York Fed defends fund transfer after Bangladesh heist

After an $81 million cyber heist at the Bangladesh central bank, the Federal Reserve Bank of New York said there was no problem with its procedures for approving fund transfers, according to a letter released on Friday by a US lawmaker who had questioned
Published 15 May, 2016 12:00am
New York Fed defends fund transfer after Bangladesh heist

New York Fed defends fund transfer after Bangladesh heist

After an $81 million cyber heist at the Bangladesh central bank, the Federal Reserve Bank of New York said there was no problem with its procedures for approving fund transfers, according to a letter released on Friday by a US lawmaker who had questioned
Published 15 May, 2016 12:00am
Kenya creates 17 new oil exploration blocks

Kenya creates 17 new oil exploration blocks

Kenya has created an extra 17 new oil exploration blocks, bringing its total to 63 and aims to auction them in a licensing round in 2017, Kenyan newspapers quoted Ministry of Energy and Petroleum saying on Saturday. British explorer Tullow Oil and partner
Published 15 May, 2016 12:00am
India approaches Halkbank to handle oil payment to Iran

India approaches Halkbank to handle oil payment to Iran

India has approached Turkey's Halkbank to faciliate the payment of $6.5 billion to Iran, which it owes for crude oil imports, Iran's Fars news agency quoted India's ambassador to Tehran as saying on Saturday. "The Indian government is seeking to pay the $
Published 15 May, 2016 12:00am
Germany opposes long-term interest guarantees for Greece

Germany opposes long-term interest guarantees for Greece

German Finance Minister Wolfgang Schaeuble does not want to provide debt relief to Greece through long-term interest rate guarantees, according to an unsourced report published on Friday in the German news magazine Der Spiegel. Schaeuble has rejected a pr
Published 15 May, 2016 12:00am
Greece aims to tap bond markets next year, says debt relief is key

Greece aims to tap bond markets next year, says debt relief is key

Greece will return to credit markets next year if the country's international creditors offer debt relief measures at a crucial May 24 meeting of euro zone finance ministers, Prime Minister Alexis Tsipras told a newspaper on Saturday. The cash-strapped co
Published 15 May, 2016 12:00am
Greece aims to tap bond markets next year, says debt relief is key

Greece aims to tap bond markets next year, says debt relief is key

Greece will return to credit markets next year if the country's international creditors offer debt relief measures at a crucial May 24 meeting of euro zone finance ministers, Prime Minister Alexis Tsipras told a newspaper on Saturday. The cash-strapped co
Published 15 May, 2016 12:00am
TAG Heuer watch sales to rise at least 10 percent this year

TAG Heuer watch sales to rise at least 10 percent this year

The head of luxury group LVMH's Swiss watchmaking business expects sales of the TAG Heuer brand, which includes "smartwatches" that connect to the Internet, to rise by at least a tenth this year, he told Swiss newspaper Le Temps. "TAG Heuer exceeds all ou
Published 15 May, 2016 12:00am
Argentina agrees $217 million arbitration deal with energy companies

Argentina agrees $217 million arbitration deal with energy companies

Argentina has agreed to pay $217 million to two energy companies in long-standing arbitration cases stemming from its 2001/02 economic crisis, part of the centre-right government's efforts to lure back foreign investors. The country will pay damages to Br
Published 15 May, 2016 12:00am
US retail giants feel pain as online shopping hits

US retail giants feel pain as online shopping hits

Iconic American stores Macy's and Gap are facing tough questions about their future following dreary earnings announcements this week that highlighted the growing market share taken by online retailers. Conventional retailer profits are falling as fewer s
Published 15 May, 2016 12:00am
Iraq oil projects face delays as companies resist spending cuts

Iraq oil projects face delays as companies resist spending cuts

International oil firms have warned Iraq that projects to increase its crude output will be delayed if the government insists on drastic spending cuts this year, a senior Iraqi oil official said on Friday. Oil companies helping Iraq develop its massive oi
Published 15 May, 2016 12:00am
German firms scaling back investment in Britain ahead of EU vote

German firms scaling back investment in Britain ahead of EU vote

German companies are scaling back their investment in Britain ahead of its June 23 referendum on membership of the European Union, and German industry is becoming increasingly vocal in warning that a Brexit would hit both countries' economies. German fore
Published 15 May, 2016 12:00am
TSX slips as non-gold resource stocks weigh

TSX slips as non-gold resource stocks weigh

Canada's main stock index slipped on Friday, weighed down by financials, industrials and resource stocks as they pulled back in line with softer prices for oil and other commodities. "Today's price action is somewhat suggestive that some of these commodit
Published 15 May, 2016 12:00am
Russia starts selling treasury bonds to manage liquidity

Russia starts selling treasury bonds to manage liquidity

The Russian central bank has been selling limited amounts of domestic treasury bonds to manage rouble liquidity in the banking system, the bank said on Wednesday. The absorption of roubles suggests the banking sector is recovering, having been previously
Published 15 May, 2016 12:00am
Russia starts selling treasury bonds to manage liquidity

Russia starts selling treasury bonds to manage liquidity

The Russian central bank has been selling limited amounts of domestic treasury bonds to manage rouble liquidity in the banking system, the bank said on Wednesday. The absorption of roubles suggests the banking sector is recovering, having been previously
Published 15 May, 2016 12:00am
Best-paid US hedge fund managers take home $13 billion

Best-paid US hedge fund managers take home $13 billion

Hedge funds lost money for their investors last year but the industry's top-paid managers had a banner year, with five men earning more than $1 billion each in 2015, an industry survey released on Tuesday showed. Together, the 25 best-paid hedge fund mana
Published 15 May, 2016 12:00am
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