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Print - 2016-06-04
The same old mantra

The same old mantra

During the beginning of the third official Pakistan-United States honeymoon, I mean beginning of the second Afghan war in 2001, Christina Amanpour of CNN was comfortably sitting in Rawalpindi's Army House to interview Washington's darling General Pervez M
Published 04 Jun, 2016 12:00am
Subsidies increased by two percent to Rs 140.6 billion

Subsidies increased by two percent to Rs 140.6 billion

The federal government has increased subsidies by slightly over 2 per cent to Rs 140.6 billion for fiscal year 2016-17 against Rs 137.603 billion budgeted for the current fiscal year. Budgeted subsidy for the current year is understated for some items (K-
Published 04 Jun, 2016 12:00am
KARACHI CHRONICLE: Landscape marred by brazen ugliness of billboards

KARACHI CHRONICLE: Landscape marred by brazen ugliness of billboards

Driving down Khayaban-i-Jami two days before the May 30 deadline for taking down billboards given by the Apex Court's, I saw two persons up on a 60-foot high billboard frame hanging a new advertisement. This was at the crossroads which used to be called S
Published 04 Jun, 2016 12:00am
Subsidies increased by two percent to Rs 140.6 billion

Subsidies increased by two percent to Rs 140.6 billion

The federal government has increased subsidies by slightly over 2 per cent to Rs 140.6 billion for fiscal year 2016-17 against Rs 137.603 billion budgeted for the current fiscal year. Budgeted subsidy for the current year is understated for some items (K-
Published 04 Jun, 2016 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 04 Jun, 2016 12:00am
Subsidies increased by two percent to Rs 140.6 billion

Subsidies increased by two percent to Rs 140.6 billion

The federal government has increased subsidies by slightly over 2 per cent to Rs 140.6 billion for fiscal year 2016-17 against Rs 137.603 billion budgeted for the current fiscal year. Budgeted subsidy for the current year is understated for some items (K-
Published 04 Jun, 2016 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 04 Jun, 2016 12:00am
BRIndex30 down 61.01 points

BRIndex30 down 61.01 points

On Friday, BRIndex30 opened at 22,740.98 points. It touched an intraday high of 22,996.31 points and an intraday low of 22,639.88 points and closed at 22,679.97 points which was -61.01 points or -0.27 percent lower than previous close. Total volume was 15
Published 04 Jun, 2016 12:00am
BRIndex30 down 61.01 points

BRIndex30 down 61.01 points

On Friday, BRIndex30 opened at 22,740.98 points. It touched an intraday high of 22,996.31 points and an intraday low of 22,639.88 points and closed at 22,679.97 points which was -61.01 points or -0.27 percent lower than previous close. Total volume was 15
Published 04 Jun, 2016 12:00am
FINANE BILL 2016
Currency

FINANE BILL 2016

A BILL to give effect to the financial proposals of the Federal Government for the year beginning on the first day of July, 2016, and to amend certain laws WHEREAS it is expedient to make provisions to give effect to the financial proposals of the
Published 04 Jun, 2016 12:00am
Stocks stage strong rally

Stocks stage strong rally

The share market welcomed the new federal budget by surging to a historic high of 37,223 points Friday. The benchmark KSE-100 index added 384 points to the Wednesday''s tally of 36,839 points, which in the bullish session proved to be the intraday low. Fo
Published 04 Jun, 2016 12:00am
FINANE BILL 2016
Currency

FINANE BILL 2016

A BILL to give effect to the financial proposals of the Federal Government for the year beginning on the first day of July, 2016, and to amend certain laws WHEREAS it is expedient to make provisions to give effect to the financial proposals of the
Published 04 Jun, 2016 12:00am
Stocks stage strong rally

Stocks stage strong rally

The share market welcomed the new federal budget by surging to a historic high of 37,223 points Friday. The benchmark KSE-100 index added 384 points to the Wednesday's tally of 36,839 points, which in the bullish session proved to be the intraday low. For
Published 04 Jun, 2016 12:00am
FINANE BILL 2016
Currency

FINANE BILL 2016

A BILL to give effect to the financial proposals of the Federal Government for the year beginning on the first day of July, 2016, and to amend certain laws WHEREAS it is expedient to make provisions to give effect to the financial proposals of the
Published 04 Jun, 2016 12:00am
Stocks stage strong rally

Stocks stage strong rally

The share market welcomed the new federal budget by surging to a historic high of 37,223 points Friday. The benchmark KSE-100 index added 384 points to the Wednesday's tally of 36,839 points, which in the bullish session proved to be the intraday low. For
Published 04 Jun, 2016 12:00am
Speakers say 'only the fittest will survive'

Speakers say 'only the fittest will survive'

'Only the fittest survive in volatile, uncertain, complex and Ambiguous (VUCA) environment that is almost always present around the globe.' This was stated by speakers at CFO Conference 2016 organised by the Institute of Chartered Accountants of Pakistan
Published 04 Jun, 2016 12:00am
Opposition rejects budget

Opposition rejects budget

The opposition on Friday rejected the ruling Pakistan Muslim League-Nawaz (PML-N) fourth federal budget for FY 2016-17, describing it as anti-people and a document to please the international monetary institutions. Reacting to the federal budget presented
Published 04 Jun, 2016 12:00am
19 Ramazan Bazaars being made functional: DCO

19 Ramazan Bazaars being made functional: DCO

As many as 19 Ramazan Bazaars have been made functional in the district by district administration before advent of the holy month of Ramazan for the provision of essential commodities to the consumers on controlled and subsidized rates. This was told by
Published 04 Jun, 2016 12:00am
Opposition rejects budget

Opposition rejects budget

The opposition on Friday rejected the ruling Pakistan Muslim League-Nawaz (PML-N) fourth federal budget for FY 2016-17, describing it as anti-people and a document to please the international monetary institutions. Reacting to the federal budget presented
Published 04 Jun, 2016 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Thursday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 4,541 million and the number of lots traded was 9,085. PMEX Commodity Index closed at 2,832. Major business was contributed by currencies through COTS amounting to PKR 1,906 million
Published 04 Jun, 2016 12:00am
Government seeks to generate Rs 330 billion through fuel taxes

Government seeks to generate Rs 330 billion through fuel taxes

The government has budgeted Rs 330 billion revenue generation from fuel taxes excluding General Sales Tax (GST), which is 0.083 percent of the total Rs 3956.1 trillion estimated tax revenue in 2016-17 budget. The government has estimated Rs 145 billion re
Published 04 Jun, 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 04 Jun, 2016 12:00am
Government seeks to generate Rs 330 billion through fuel taxes

Government seeks to generate Rs 330 billion through fuel taxes

The government has budgeted Rs 330 billion revenue generation from fuel taxes excluding General Sales Tax (GST), which is 0.083 percent of the total Rs 3956.1 trillion estimated tax revenue in 2016-17 budget. The government has estimated Rs 145 billion re
Published 04 Jun, 2016 12:00am
US FOB Gulf soyabean premiums up on rising demand

US FOB Gulf soyabean premiums up on rising demand

Soyabean export premiums for shipments from the US Gulf Coast firmed on Wednesday in tandem with higher CIF barge basis values as demand for late-summer US cargoes increased amid rising prices in South America, traders said. One to three cargoes of US Gul
Published 04 Jun, 2016 12:00am
Government seeks to generate Rs 330 billion through fuel taxes

Government seeks to generate Rs 330 billion through fuel taxes

The government has budgeted Rs 330 billion revenue generation from fuel taxes excluding General Sales Tax (GST), which is 0.083 percent of the total Rs 3956.1 trillion estimated tax revenue in 2016-17 budget. The government has estimated Rs 145 billion re
Published 04 Jun, 2016 12:00am
EU wheat market weighs Chicago volatility, rain risks

EU wheat market weighs Chicago volatility, rain risks

Euronext wheat futures were little changed by Wednesday's close as the market digested volatile Chicago prices and uncertainty over the impact of heavy rain on French crops. September milling wheat on the Paris-based Euronext exchange settled unchanged on
Published 04 Jun, 2016 12:00am
Government seeks to generate Rs 330 billion through fuel taxes

Government seeks to generate Rs 330 billion through fuel taxes

The government has budgeted Rs 330 billion revenue generation from fuel taxes excluding General Sales Tax (GST), which is 0.083 percent of the total Rs 3956.1 trillion estimated tax revenue in 2016-17 budget. The government has estimated Rs 145 billion re
Published 04 Jun, 2016 12:00am
Ukraine 2016 sunflower area expands by 15 percent

Ukraine 2016 sunflower area expands by 15 percent

Ukraine has almost completed the 2016 sunflower sowing, seeding a total of 5.3 million hectares, 15 percent more than a year earlier, the agriculture ministry said on Wednesday. The ministry gave no explanation for the sharp jump in the sowing area, thoug
Published 04 Jun, 2016 12:00am
Government seeks to generate Rs 330 billion through fuel taxes

Government seeks to generate Rs 330 billion through fuel taxes

The government has budgeted Rs 330 billion revenue generation from fuel taxes excluding General Sales Tax (GST), which is 0.083 percent of the total Rs 3956.1 trillion estimated tax revenue in 2016-17 budget. The government has estimated Rs 145 billion re
Published 04 Jun, 2016 12:00am
US natural gas futures up to four-month high

US natural gas futures up to four-month high

US natural gas futures on Wednesday climbed for a third straight day to a four-month high on forecasts that power generators would use more of the fuel to meet rising air conditioning demand in the next two weeks. After rising almost 17 percent in the pri
Published 04 Jun, 2016 12:00am
Government targets near 16 percent rise in tax revenues

Government targets near 16 percent rise in tax revenues

The government has taken new taxation measures of over Rs 154 billion by imposing 10 percent Capital Gain Tax (CGT) on disposal of immovable properties sold within five years of acquisition, doubling of withholding tax on purchase/sale of properties for f
Published 04 Jun, 2016 12:00am
Activity at Karachi & Qasim ports

Activity at Karachi & Qasim ports

The Karachi Port handled 158,505 tonnes of cargo comprising 135,396 tonnes of import cargo and 23,109 tonnes of export cargo during the last 24 hours ending at 0700 hours on Friday. The total import cargo of 135,396 tonnes comprised of 63,251 tonnes of co
Published 04 Jun, 2016 12:00am
Government targets near 16 percent rise in tax revenues

Government targets near 16 percent rise in tax revenues

The government has taken new taxation measures of over Rs 154 billion by imposing 10 percent Capital Gain Tax (CGT) on disposal of immovable properties sold within five years of acquisition, doubling of withholding tax on purchase/sale of properties for f
Published 04 Jun, 2016 12:00am
Government targets near 16 percent rise in tax revenues

Government targets near 16 percent rise in tax revenues

The government has taken new taxation measures of over Rs 154 billion by imposing 10 percent Capital Gain Tax (CGT) on disposal of immovable properties sold within five years of acquisition, doubling of withholding tax on purchase/sale of properties for f
Published 04 Jun, 2016 12:00am
US Plains HRW wheat bids flat

US Plains HRW wheat bids flat

Spot basis bids for hard red winter wheat were flat in the southern US Plains on Wednesday as farmers eyed higher futures ignited by slower early harvesting efforts following recent rains, grain merchants said. The US Department of Agriculture's weekly la
Published 04 Jun, 2016 12:00am
Government targets near 16 percent rise in tax revenues

Government targets near 16 percent rise in tax revenues

The government has taken new taxation measures of over Rs 154 billion by imposing 10 percent Capital Gain Tax (CGT) on disposal of immovable properties sold within five years of acquisition, doubling of withholding tax on purchase/sale of properties for f
Published 04 Jun, 2016 12:00am
Government targets near 16 percent rise in tax revenues

Government targets near 16 percent rise in tax revenues

The government has taken new taxation measures of over Rs 154 billion by imposing 10 percent Capital Gain Tax (CGT) on disposal of immovable properties sold within five years of acquisition, doubling of withholding tax on purchase/sale of properties for f
Published 04 Jun, 2016 12:00am
Iran says Airbus deal still awaiting US green light

Iran says Airbus deal still awaiting US green light

A $10 billion deal between Iran and European aircraft manufacturer Airbus for 118 aircraft is still pending authorisation from the United States, Deputy Transport Minister Asghar Fakhrieh Kashan told AFP Friday. Iran has ordered about 200 planes from thre
Published 04 Jun, 2016 12:00am
Defence budget increased to Rs 860 billion

Defence budget increased to Rs 860 billion

The government has increased defence spending for 2016-17 by 10.2 percent to Rs 860 billion. Presenting the budget in the National Assembly on Friday, Finance Minister Ishaq Dar said that the defence budget is being increased from Rs 781 billion for the o
Published 04 Jun, 2016 12:00am
Cautious consumers keep lid on business growth in Europe
Currency

Cautious consumers keep lid on business growth in Europe

Business growth across the eurozone remained muted in May, providing the latest evidence the relatively strong expansion at the start of the year has already lost momentum, a survey showed on Friday. Also of concern to policymakers at the European Central
Published 04 Jun, 2016 12:00am
Defence budget increased to Rs 860 billion

Defence budget increased to Rs 860 billion

The government has increased defence spending for 2016-17 by 10.2 percent to Rs 860 billion. Presenting the budget in the National Assembly on Friday, Finance Minister Ishaq Dar said that the defence budget is being increased from Rs 781 billion for the o
Published 04 Jun, 2016 12:00am
US trade gap widens in April

US trade gap widens in April

The US trade deficit widened in April with the gap with China soaring as demand for US goods sagged in the slowing Asian giant. The Commerce Department said the trade deficit rose to $37.4 billion in April from a downwardly revised $34.5 billion in March.
Published 04 Jun, 2016 12:00am
Defence budget increased to Rs 860 billion

Defence budget increased to Rs 860 billion

The government has increased defence spending for 2016-17 by 10.2 percent to Rs 860 billion. Presenting the budget in the National Assembly on Friday, Finance Minister Ishaq Dar said that the defence budget is being increased from Rs 781 billion for the o
Published 04 Jun, 2016 12:00am
Central banks downbeat on German, French growth

Central banks downbeat on German, French growth

The German and French central banks issued downbeat growth forecasts Friday, as the EU Commission came under pressure to bring Paris in line over excessive deficits. The Bundesbank said the powerhouse German economy would expand by 1.7 percent this year,
Published 04 Jun, 2016 12:00am
Defence budget increased to Rs 860 billion

Defence budget increased to Rs 860 billion

The government has increased defence spending for 2016-17 by 10.2 percent to Rs 860 billion. Presenting the budget in the National Assembly on Friday, Finance Minister Ishaq Dar said that the defence budget is being increased from Rs 781 billion for the o
Published 04 Jun, 2016 12:00am
Rebranding move backfires on troubled media group

Rebranding move backfires on troubled media group

Troubled newspaper group Tribune Publishing was trying for a new image as it seeks to fend off a takeover bid and adapt to the digital era. Instead, its new name "tronc" - all in lowercase letters - drew ridicule, mockery and disbelief. The "rebranding" p
Published 04 Jun, 2016 12:00am
Defence budget increased to Rs 860 billion

Defence budget increased to Rs 860 billion

The government has increased defence spending for 2016-17 by 10.2 percent to Rs 860 billion. Presenting the budget in the National Assembly on Friday, Finance Minister Ishaq Dar said that the defence budget is being increased from Rs 781 billion for the o
Published 04 Jun, 2016 12:00am
Finland's economy thawing at last after frozen years

Finland's economy thawing at last after frozen years

Finland's economy seems to be regaining strength after four difficult years, with Statistics Finland revealing on Friday the best quarterly growth figure since 2011. In the first three months of the year, the troubled eurozone country's gross domestic pro
Published 04 Jun, 2016 12:00am
Dar's selective delight

Dar's selective delight

With one eye on his budget speech and the other on the next elections, Mr Dar was in a giving mood yesterday. Never one to shy away from self-praise, the finance czar devoted first half of the speech on the improving macros under his watch, and how just i
Published 04 Jun, 2016 12:00am
Canada's trade deficit narrows on rise in machine exports

Canada's trade deficit narrows on rise in machine exports

Canada's trade deficit narrowed in April as energy exports rebounded and foreign sales of industrial machinery and equipment rose dramatically, official figures showed Friday. Statistics Canada said the trade shortfall was Can$2.9 billion (US $2.2 billion
Published 04 Jun, 2016 12:00am
Dar's selective delight

Dar's selective delight

With one eye on his budget speech and the other on the next elections, Mr Dar was in a giving mood yesterday. Never one to shy away from self-praise, the finance czar devoted first half of the speech on the improving macros under his watch, and how just i
Published 04 Jun, 2016 12:00am
Weak US employment report dims prospect of Fed rate hike

Weak US employment report dims prospect of Fed rate hike

The US economy created the fewest number of jobs in more than 5-1/2-years in May as manufacturing and construction employment fell sharply, which could make it harder for the Federal Reserve to raise interest rates. Nonfarm payrolls increased by only 38,0
Published 04 Jun, 2016 12:00am
What is the critical question this year?

What is the critical question this year?

The critical question this year is not whether the budget 2016-17 is pro-poor and pro-development (a standard normal government claim) or pro-growth (proposed by economists and claimed as his objective by Dar in his budget speech this year) or indeed pro-
Published 04 Jun, 2016 12:00am
Philippines may widen debt borrowings, cut income tax to fuel growth

Philippines may widen debt borrowings, cut income tax to fuel growth

The Philippines'' incoming finance minister Carlos Dominguez says he is open to diversifying the country''s borrowings to fund infrastructure projects and will push for a cut in income taxes to keep the Southeast Asian country on track for growth. Boostin
Published 04 Jun, 2016 12:00am
What is the critical question this year?

What is the critical question this year?

The critical question this year is not whether the budget 2016-17 is pro-poor and pro-development (a standard normal government claim) or pro-growth (proposed by economists and claimed as his objective by Dar in his budget speech this year) or indeed pro-
Published 04 Jun, 2016 12:00am
Philippines may widen debt borrowings, cut income tax to fuel growth

Philippines may widen debt borrowings, cut income tax to fuel growth

The Philippines' incoming finance minister Carlos Dominguez says he is open to diversifying the country's borrowings to fund infrastructure projects and will push for a cut in income taxes to keep the Southeast Asian country on track for growth. Boosting
Published 04 Jun, 2016 12:00am
Good neighbourliness for common economic development

Good neighbourliness for common economic development

That Bangladesh has ultimately outpaced Pakistan insofar as the annual budgetary outlays of the two countries are concerned is a fact. A day before the presentation of Pakistan''s annual budget a ($42 billion outlay) by finance minister Ishaq Dar in Islam
Published 04 Jun, 2016 12:00am
Philippines may widen debt borrowings, cut income tax to fuel growth

Philippines may widen debt borrowings, cut income tax to fuel growth

The Philippines' incoming finance minister Carlos Dominguez says he is open to diversifying the country's borrowings to fund infrastructure projects and will push for a cut in income taxes to keep the Southeast Asian country on track for growth. Boosting
Published 04 Jun, 2016 12:00am
Good neighbourliness for common economic development

Good neighbourliness for common economic development

That Bangladesh has ultimately outpaced Pakistan insofar as the annual budgetary outlays of the two countries are concerned is a fact. A day before the presentation of Pakistan's annual budget a ($42 billion outlay) by finance minister Ishaq Dar in Islama
Published 04 Jun, 2016 12:00am
Walmart to partner with Uber, Lyft on delivery

Walmart to partner with Uber, Lyft on delivery

Walmart announced plans Friday to team up with Uber and Lyft on a pilot grocery delivery program, in a fresh challenge by the US retail giant to Amazon. The big retailer said it would test the "last-mile" delivery with the two ridesharing groups as well a
Published 04 Jun, 2016 12:00am
Good neighbourliness for common economic development

Good neighbourliness for common economic development

That Bangladesh has ultimately outpaced Pakistan insofar as the annual budgetary outlays of the two countries are concerned is a fact. A day before the presentation of Pakistan's annual budget a ($42 billion outlay) by finance minister Ishaq Dar in Islama
Published 04 Jun, 2016 12:00am
HIGHLIGHTS

HIGHLIGHTS

Betel nuts, leaves (paan) to cost more
Published 04 Jun, 2016 12:00am
China new home prices grow at fastest rate in two years

China new home prices grow at fastest rate in two years

New home prices in China grew at their fastest pace in more than two years in May, a private survey showed, signalling the recovery of a crucial sector in the world's second-largest economy. After fuelling much of China's spectacular growth in recent deca
Published 04 Jun, 2016 12:00am
HIGHLIGHTS

HIGHLIGHTS

Betel nuts, leaves (paan) to cost more
Published 04 Jun, 2016 12:00am
Greenland will seek minerals until 'last stone' turned: PM

Greenland will seek minerals until 'last stone' turned: PM

Greenland will work to develop its mineral wealth until the "last stone" is turned, despite low prices for everything from oil to iron ore that have discouraged some foreign investors, Prime Minister Kim Kielsen said. Fisheries will remain the mainstay of
Published 04 Jun, 2016 12:00am
HIGHLIGHTS

HIGHLIGHTS

Betel nuts, leaves (paan) to cost more
Published 04 Jun, 2016 12:00am
Iraq plans $2 billion bond sale end 2016 as aid lowers borrowing costs

Iraq plans $2 billion bond sale end 2016 as aid lowers borrowing costs

Iraq expects to sell $2 billion in eurobonds in the last quarter of the year, when international aid starts coming in, helping lower its cost of borrowing, Finance Minister Hoshiyar Zebari said. The Opec nation expects to receive in September $600 million
Published 04 Jun, 2016 12:00am
HIGHLIGHTS

HIGHLIGHTS

Betel nuts, leaves (paan) to cost more
Published 04 Jun, 2016 12:00am
Iraq plans $2 billion bond sale end 2016 as aid lowers borrowing costs

Iraq plans $2 billion bond sale end 2016 as aid lowers borrowing costs

Iraq expects to sell $2 billion in eurobonds in the last quarter of the year, when international aid starts coming in, helping lower its cost of borrowing, Finance Minister Hoshiyar Zebari said. The Opec nation expects to receive in September $600 million
Published 04 Jun, 2016 12:00am
Budget 2016-17: on track to appease all

Budget 2016-17: on track to appease all

The government announced on Friday its fourth deficit budget of Rs 4,395 billion which was largely seen as traditional and disappointing because it was missing reforms agenda with opposition maintaining that it does not have anything for the common man. F
Published 04 Jun, 2016 12:00am
US auto sales drop in May; GM hit hard

US auto sales drop in May; GM hit hard

US auto sales fell in May, with the country's leading automaker General Motors taking a particularly hard hit as consumers curbed spending ahead of the summer driving season. Analysts had expected softer May sales generally after an April surge as a seven
Published 04 Jun, 2016 12:00am
Budget 2016-17: on track to appease all

Budget 2016-17: on track to appease all

The government announced on Friday its fourth deficit budget of Rs 4,395 billion which was largely seen as traditional and disappointing because it was missing reforms agenda with opposition maintaining that it does not have anything for the common man. F
Published 04 Jun, 2016 12:00am
South Africa's private sector expands for first time in 12 months

South Africa's private sector expands for first time in 12 months

Activity in South Africa's private sector expanded in May for the first time in a year, a survey showed on Friday, as new orders and exports grew even though the subdued economic climate continued to curb output. The Standard Bank Purchasing Managers' Ind
Published 04 Jun, 2016 12:00am
Budget 2016-17: on track to appease all

Budget 2016-17: on track to appease all

The government announced on Friday its fourth deficit budget of Rs 4,395 billion which was largely seen as traditional and disappointing because it was missing reforms agenda with opposition maintaining that it does not have anything for the common man. F
Published 04 Jun, 2016 12:00am
Hyundai Heavy wins creditor approval for overhaul

Hyundai Heavy wins creditor approval for overhaul

South Korea's Hyundai Heavy Industries has received the green light for a near 3.0 billion restructuring programme - including asset sales and job cuts - to keep the world's largest shipbuilder afloat. A spokesman for KEB Hana Bank, one of the company's c
Published 04 Jun, 2016 12:00am
Budget 2016-17: on track to appease all

Budget 2016-17: on track to appease all

The government announced on Friday its fourth deficit budget of Rs 4,395 billion which was largely seen as traditional and disappointing because it was missing reforms agenda with opposition maintaining that it does not have anything for the common man. F
Published 04 Jun, 2016 12:00am
Tokyo shares rebound

Tokyo shares rebound

Tokyo stocks rebounded Friday with US jobs data in focus as the Federal Reserve moves closer to another rate hike, while revised Japanese growth figures are due next week. Expectations are high for a June or July rate increase after Fed chair Janet Yellen
Published 04 Jun, 2016 12:00am
Wall Street up; S&P 500 ends at highest closing level in 7 months

Wall Street up; S&P 500 ends at highest closing level in 7 months

Wall Street closed slightly higher on Thursday as fresh data gave a rosier view of the economy and further gains for healthcare shares countered declines in energy names. The S&P 500 ended at its highest closing level in seven months, while the Nasdaq min
Published 04 Jun, 2016 12:00am
Australian shares higher

Australian shares higher

Australian shares ended 0.8 percent higher on Friday, with broad-based gains across all sectors following an upbeat US jobs report and gains in key commodity prices. The S&P/ASX 200 index was up 40.01 points at 5,318.9 at the close of trade, after three s
Published 04 Jun, 2016 12:00am
Hong Kong shares rise

Hong Kong shares rise

Hong Kong shares rose to one-month highs on Friday to cap a third straight week of gains, but trading remained thin, reflecting investor caution of a possible US rate hike later this month. Worries about the health of the Chinese economy and Britain's ref
Published 04 Jun, 2016 12:00am
Treasury debt yields drop broadly

Treasury debt yields drop broadly

US Treasury debt yields fell across the board on Thursday, undermined by worries about Opec failing to agree on oil output, concerns over Britain's future in the EU, and overall uncertainty ahead of Friday's US non-farm payrolls report. Yields, which move
Published 04 Jun, 2016 12:00am
Treasury debt yields drop broadly

Treasury debt yields drop broadly

US Treasury debt yields fell across the board on Thursday, undermined by worries about Opec failing to agree on oil output, concerns over Britain's future in the EU, and overall uncertainty ahead of Friday's US non-farm payrolls report. Yields, which move
Published 04 Jun, 2016 12:00am
Most SE Asian stocks climb

Most SE Asian stocks climb

Southeast Asian stocks closed higher on Friday, as investors braced for US jobs data due later in the day for cues on a possible interest rate hike by the Federal Reserve. Fed Chair Janet Yellen's speech on Monday would also indicate whether the central b
Published 04 Jun, 2016 12:00am
Indian shares flat; Idea Cellular slumps

Indian shares flat; Idea Cellular slumps

Indian shares ended steady on Friday, skidding from a 7-month high hit earlier in the session, as gains in agriculture-related stocks and automakers were offset by a slump in Idea Cellular Ltd Idea Cellular Ltd plunged as much as 12.1 percent after a repo
Published 04 Jun, 2016 12:00am
European shares drop after disappointing US jobs data

European shares drop after disappointing US jobs data

European shares fell on Friday after much weaker US jobs data than expected, while Accor soared on reported plans by a Chinese rival to raise its stake in the hotel group. The US economy created the fewest number of jobs in more than five years in May, su
Published 04 Jun, 2016 12:00am
Sri Lankan shares fall for 5th day

Sri Lankan shares fall for 5th day

Sri Lankan shares fell for a fifth straight session on Friday and posted their lowest close in five weeks, as rising interest rates and lack of new catalysts dented investor sentiment. The benchmark Colombo stock index ended 0.07 percent, or 4.61 points,
Published 04 Jun, 2016 12:00am
German bond yields slide as ugly US jobs data stun markets

German bond yields slide as ugly US jobs data stun markets

German 10-year bond tumbled to their lowest level in more than a year on Friday as weak US jobs data quashed expectations for a Federal Reserve rate hike soon and dragged bond yields around the world lower. The figures showing the slowest pace of US jobs
Published 04 Jun, 2016 12:00am
German bond yields slide as ugly US jobs data stun markets

German bond yields slide as ugly US jobs data stun markets

German 10-year bond tumbled to their lowest level in more than a year on Friday as weak US jobs data quashed expectations for a Federal Reserve rate hike soon and dragged bond yields around the world lower. The figures showing the slowest pace of US jobs
Published 04 Jun, 2016 12:00am
FTSE boosted by commodities rally

FTSE boosted by commodities rally

Britain's top share index advanced on Friday as commodity-related stocks rebounded, with precious metals miners in demand after a disappointing US jobs report. US jobs data showed that the US economy created the fewest number of jobs in more than five yea
Published 04 Jun, 2016 12:00am
Dollar wallows near three-year low against yen in Asia

Dollar wallows near three-year low against yen in Asia

The euro wallowed near a three-year low against the yen on Friday, after investors were underwhelmed by the European Central Bank's decision to refrain from making any material changes to its policy mix. The dollar also dropped to a two-week low against i
Published 04 Jun, 2016 12:00am
Dollar soars against majors in Europe

Dollar soars against majors in Europe

The dollar inched up against most major currencies on Friday, with investors positioning before a key US jobs report that could bolster expectations of an interest rate hike in coming months. The market consensus is for the US economy to have created 164,
Published 04 Jun, 2016 12:00am
Dollar slides against yen in New York
Currency

Dollar slides against yen in New York

The dollar fell to its lowest against the yen in more than two weeks on Thursday, weighed down by uncertainty over the impact of policy divergence between the US Federal Reserve and the Bank of Japan. Investors sold dollars and bought yen as skepticism of
Published 04 Jun, 2016 12:00am
Sri Lankan rupee forwards up
Currency

Sri Lankan rupee forwards up

Sri Lankan rupee forwards ended firmer on Friday as a state-owned bank sold dollars to select traders amid moral suasion by the central bank and importer demand for the greenback, dealers said. Dollar/rupee forwards, known as spot next, closed at 147.00/0
Published 04 Jun, 2016 12:00am
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