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Sep 20, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-06-05
Consular access to spy: India's request turned down

Consular access to spy: India's request turned down

Pakistan has turned down India's request of consular access to Kulbushan Yadav, an Indian naval officer arrested on the charges of espionages for its Research and Analysis Wing (RAW), it was learnt. Sources said the decision not to give access to India to
Published 05 Jun, 2016 12:00am
Consular access to spy: India's request turned down

Consular access to spy: India's request turned down

Pakistan has turned down India's request of consular access to Kulbushan Yadav, an Indian naval officer arrested on the charges of espionages for its Research and Analysis Wing (RAW), it was learnt. Sources said the decision not to give access to India to
Published 05 Jun, 2016 12:00am
Finance Bill 2016: no change in duty structure of POL products: Haroon

Finance Bill 2016: no change in duty structure of POL products: Haroon

Special Assistant to Prime Minister on Revenue Senator Haroon Akhtar Khan has said that Finance Bill 2016 has not made any change in the customs duty structure on the import of petroleum products in budget (2016-17). On the conclusion of post-budget press
Published 05 Jun, 2016 12:00am
Finance Bill 2016: no change in duty structure of POL products: Haroon

Finance Bill 2016: no change in duty structure of POL products: Haroon

Special Assistant to Prime Minister on Revenue Senator Haroon Akhtar Khan has said that Finance Bill 2016 has not made any change in the customs duty structure on the import of petroleum products in budget (2016-17). On the conclusion of post-budget press
Published 05 Jun, 2016 12:00am
Finance Bill 2016: no change in duty structure of POL products: Haroon

Finance Bill 2016: no change in duty structure of POL products: Haroon

Special Assistant to Prime Minister on Revenue Senator Haroon Akhtar Khan has said that Finance Bill 2016 has not made any change in the customs duty structure on the import of petroleum products in budget (2016-17). On the conclusion of post-budget press
Published 05 Jun, 2016 12:00am
Finance Bill 2016: no change in duty structure of POL products: Haroon

Finance Bill 2016: no change in duty structure of POL products: Haroon

Special Assistant to Prime Minister on Revenue Senator Haroon Akhtar Khan has said that Finance Bill 2016 has not made any change in the customs duty structure on the import of petroleum products in budget (2016-17). On the conclusion of post-budget press
Published 05 Jun, 2016 12:00am
Finance Bill 2016: no change in duty structure of POL products: Haroon

Finance Bill 2016: no change in duty structure of POL products: Haroon

Special Assistant to Prime Minister on Revenue Senator Haroon Akhtar Khan has said that Finance Bill 2016 has not made any change in the customs duty structure on the import of petroleum products in budget (2016-17). On the conclusion of post-budget press
Published 05 Jun, 2016 12:00am
Budget reflects government''s vision: Prime Minister

Budget reflects government''s vision: Prime Minister

Prime Minister Nawaz Sharif on Saturday said the pro-growth budget of the government reflected its vision for a prosperous and developed Pakistan. Complimenting Minister for Finance Ishaq Dar, he said the minister and his team deserved the appreciation fo
Published 05 Jun, 2016 12:00am
Budget reflects government's vision: Prime Minister

Budget reflects government's vision: Prime Minister

Prime Minister Nawaz Sharif on Saturday said the pro-growth budget of the government reflected its vision for a prosperous and developed Pakistan. Complimenting Minister for Finance Ishaq Dar, he said the minister and his team deserved the appreciation fo
Published 05 Jun, 2016 12:00am
Budget reflects government's vision: Prime Minister

Budget reflects government's vision: Prime Minister

Prime Minister Nawaz Sharif on Saturday said the pro-growth budget of the government reflected its vision for a prosperous and developed Pakistan. Complimenting Minister for Finance Ishaq Dar, he said the minister and his team deserved the appreciation fo
Published 05 Jun, 2016 12:00am
The Weather

The Weather

The weather report on Saturday (June 04, 2016) and the forecast for Sunday (June 05, 2016).

Published 05 Jun, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (June 04, 2016).

Published 05 Jun, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (June 04, 2016)

Published 05 Jun, 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 (June 04, 2016).

Published 05 Jun, 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 (June 04, 2016).

Published 05 Jun, 2016 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (June 04, 2016).

Published 05 Jun, 2016 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (June 04, 2016).

Published 05 Jun, 2016 12:00am
THE RUPEE: rising trend
Currency

THE RUPEE: rising trend

The rupee appreciated in terms of the dollar amid post-budget session on the money market on Saturday, dealer said. The rupee managed to gain 20 paisas against the dollar for buying and selling at Rs 105.10 and Rs 105.30 respectively, they said. The rupee
Published 05 Jun, 2016 12:00am
THE RUPEE: rising trend
Currency

THE RUPEE: rising trend

The rupee appreciated in terms of the dollar amid post-budget session on the money market on Saturday, dealer said. The rupee managed to gain 20 paisas against the dollar for buying and selling at Rs 105.10 and Rs 105.30 respectively, they said. The rupee
Published 05 Jun, 2016 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (June 04, 2016).

Published 05 Jun, 2016 12:00am
Russian services expand again in May, but growth slows

Russian services expand again in May, but growth slows

Russia's services expanded for a fourth straight month in May, although at a slower pace than it grew in April, the Markit purchasing managers index (PMI) showed on Friday. The index's headline figure fell to 51.8 in May from 54.2 in April, staying above
Published 05 Jun, 2016 12:00am
Troubled Venezuela's bare fridges

Troubled Venezuela's bare fridges

Mayra de Ramos stood in line all day to buy two packs of corn flour and pasta, but the Venezuelan grandmother says it won't be enough. She lives with her three children and three young grandchildren in Catia, a downtrodden neighborhood in Caracas. "My ref
Published 05 Jun, 2016 12:00am
Bundesbank cuts German GDP forecasts on weaker export demand
Currency

Bundesbank cuts German GDP forecasts on weaker export demand

The Bundesbank cut its German inflation and growth forecasts on Friday citing weaker demand for exports, even as it predicted that robust consumer demand and a tightening labour market would keep the domestic economy buoyant. The euro zone's biggest econo
Published 05 Jun, 2016 12:00am
As Iraq repays debt, Lukoil pledges to unlock investment

As Iraq repays debt, Lukoil pledges to unlock investment

Iraq has positively surprised oil majors by starting quickly to repay accumulated debts, the head of Russia's Lukoil said, pledging more investment to allow Opec's second-largest producer to maintain stellar output growth. Iraq has become the world's fast
Published 05 Jun, 2016 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

Spot basis bids for hard red winter wheat in the southern US Plains on Thursday were unchanged as farmers watched futures follow other grain markets higher, merchants said. As of 1:18 pm CDT (1818 GMT), K.C. July HRW wheat futures were up 6 cents at $4.62
Published 05 Jun, 2016 12:00am
CBOT wheat futures rise on technical buying

CBOT wheat futures rise on technical buying

Chicago Board of Trade soft red winter wheat futures rose 2.0 percent to a one-month high on Thursday in a round of short-covering and technical buying, traders said. Kansas City hard red winter wheat and MGEX spring wheat also closed firm, but gains in s
Published 05 Jun, 2016 12:00am
Argentine soya harvest could be hit by more heavy rains

Argentine soya harvest could be hit by more heavy rains

Rains this week in Argentina's top agricultural province, which was previously unaffected by recent wet weather, may further damage the 2015/2016 soyabean harvest, the Buenos Aires Grain Exchange said on Thursday. Argentina is the world's top exporter of
Published 05 Jun, 2016 12:00am
Slow business on grain market
Cotton

Slow business on grain market

A few changes were seen on the wholesale grain market on Saturday in the process of trade, dealers said. On the cereals side, Moong Afghan lost Rs 750 to Rs 9500 due to fresh arrivals, other commodities sustained overnight levels, they said. On the rice s
Published 05 Jun, 2016 12:00am
Asian naphtha crack falls to 17-month low

Asian naphtha crack falls to 17-month low

Asia's naphtha crack fell to an almost 17-month low of $46.48 a tonne on Wednesday on abundant supplies that showed no signs of retreat in the short term, traders said. South Korea's Hanwha Total was looking to buy naphtha for second-half July arrival at
Published 05 Jun, 2016 12:00am
US natural gas futures up for fourth day

US natural gas futures up for fourth day

US natural gas futures on Thursday edged higher for a fourth day in a row to a four-month high on forecasts for continued above-normal cooling demand over the next two weeks and a slightly smaller-than-expected weekly storage build. After surging 21 perce
Published 05 Jun, 2016 12:00am
Thai rice export prices hold at high levels

Thai rice export prices hold at high levels

Thai rice export prices held at high levels this week despite recent government stock auctions, while Vietnamese prices stood steady on thin buying demand as key buyers the Philippines and China were absent, traders said on Wednesday. Thai 5-percent broke
Published 05 Jun, 2016 12:00am
Oil cake market rates
Cotton

Oil cake market rates

Rising trend persisted on the forward cottonseeds oilcake market on Saturday in the process of trading, dealers said. The July vaida settled at Rs 2049.70 and it commenced with 20 paisas gain at Rs 2049.90 in wee hours, they added.
Published 05 Jun, 2016 12:00am
Brazil's 2016-17 coffee harvest reaches 21 percent

Brazil's 2016-17 coffee harvest reaches 21 percent

Brazil's 2016-17 coffee harvest is estimated to have reached 21 percent of the 56.4 million bag crop by June 1, slightly ahead of the 20 percent harvest rate a year ago, local analyst Safras e Mercado said on Thursday. Safras said the coffee harvest usual
Published 05 Jun, 2016 12:00am
Freight rates for large capesize dry cargo to hold firm

Freight rates for large capesize dry cargo to hold firm

Freight rates for large capesize dry cargo ships on key Asian routes are likely to hold around current levels or nudge slightly higher next week on buoyant cargo volumes, likely supported by a raft of off-market charters, ship brokers said. "The market is
Published 05 Jun, 2016 12:00am
US Midwest soyabean bids higher

US Midwest soyabean bids higher

Spot soyabean basis bids on Thursday around elevators in the US Midwest were mostly steady to higher after farmers held off selling beans as futures prices soared, dealers said. They said some elevators fielded calls from crushers looking to capitalize on
Published 05 Jun, 2016 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Thursday for a second straight day, supported by strong gains for soyabeans on worries about Argentina's soya crop. New-crop November contract posted bigger gains as funds rolled long positions forward from July, an ana
Published 05 Jun, 2016 12:00am
Vietnamese coffee steady; Indonesian prices fall

Vietnamese coffee steady; Indonesian prices fall

Premiums for Vietnamese coffee were steady amid reports of May exports surging 61 percent from a year ago, while Indonesian coffee prices edged down on increasing value of the US dollar over the rupiah. The premiums stayed level despite futures prices eas
Published 05 Jun, 2016 12:00am
Brazil's center-south sugar cane crush hit by rains in May

Brazil's center-south sugar cane crush hit by rains in May

Brazil's center-south region crushed 39.5 million tonnes of sugar cane in the first half of May, more than in the previous two-week period, but rain hindered progress and more will fall in coming days, cane industry association Unica said Wednesday. Brazi
Published 05 Jun, 2016 12:00am
European vegoils: palm oil higher

European vegoils: palm oil higher

Palm oil on the European vegetable oils market was offered mostly higher on Thursday, tracking stronger Malaysian palm oil futures and supported by firmer prices in CBOT soyaoil futures on the back of supply worries. Crude palm oil was mostly offered betw
Published 05 Jun, 2016 12:00am
Chinese steel, iron ore futures drop to three-month lows

Chinese steel, iron ore futures drop to three-month lows

Steel and iron ore futures in China dropped to near three-month lows on Wednesday, extending losses at the start of June after ending May with their biggest-ever monthly falls amid weaker demand. Data showing growth in activity in China's manufacturing se
Published 05 Jun, 2016 12:00am
EU wheat prices rise to six-week high

EU wheat prices rise to six-week high

European wheat prices rose to a 6-week high on Thursday, pulled by strong US futures, a low euro against the dollar and precaution buying on rising concerns about potential quality damage to the crops after heavy rainfall in the past days. September milli
Published 05 Jun, 2016 12:00am
US FOB Gulf soyabean premiums jump on strong demand

US FOB Gulf soyabean premiums jump on strong demand

Soyabean export premiums for shipments from the US Gulf Coast surged on Thursday on strong demand for old-crop supplies as rising prices and limited offers in South America shifted demand to the United States, traders said. Old-crop soyabean premiums gain
Published 05 Jun, 2016 12:00am
Cuba's weather-ravaged sugar harvest winds down

Cuba's weather-ravaged sugar harvest winds down

The first of Cuba's 13 sugar-producing provinces has met its production plan for this year, official media reported on Monday, and only one more province is expected to do the same in a season ravaged by drought and out-of-season rainfall. AZCUBA, the sta
Published 05 Jun, 2016 12:00am
India's wheat imports hit 500,000 tonnes as drought cuts supplies

India's wheat imports hit 500,000 tonnes as drought cuts supplies

Indian flour mills have signed deals to import about 500,000 tonnes of Australian and French wheat this year for shipment between July and September as drought reduces domestic supplies, two trade sources said on Wednesday. India's 2016/17 wheat imports a
Published 05 Jun, 2016 12:00am
Rabobank bearish on soyabeans, corn after supply-risk price surge

Rabobank bearish on soyabeans, corn after supply-risk price surge

Soyabean and corn traders have priced in risks from the impact of adverse weather on output in South America, and markets for the two could now face downward pressures, the chief executive of Rabobank Singapore said on Monday. Unseasonal rains in Argentin
Published 05 Jun, 2016 12:00am
Global glut to temper oil price gains this year

Global glut to temper oil price gains this year

Global oversupply in crude oil is likely to limit price gains this year despite a series of unplanned outages and shrinking US shale production, a Reuters poll showed on Tuesday. Wildfires in Canada, political unrest in Venezuela and supply disruptions in
Published 05 Jun, 2016 12:00am
ICBC Standard Bank sheds NY precious metals traders

ICBC Standard Bank sheds NY precious metals traders

China's ICBC Standard Bank has let go three precious metals traders in New York and will move its Dubai business to London, concentrating its activities in Europe and Asia, four sources with knowledge of the matter said. "Three precious traders are leavin
Published 05 Jun, 2016 12:00am
Egypt local wheat buying tops four million tonnes

Egypt local wheat buying tops four million tonnes

Egypt's agriculture ministry has bought 4.076 million tonnes of local wheat since the start of the season on April 15, it said on Wednesday. The world's largest wheat importer had said it planned to buy 4 million tonnes domestically in a local buying seas
Published 05 Jun, 2016 12:00am
Cotton up nearly 2 percent after four days of losses
Cotton

Cotton up nearly 2 percent after four days of losses

ICE cotton futures rose about 2 percent on Friday, snapping four days of declines with help from the weather and weekly US export sales data amid a weaker dollar. The market factored in the "good" export sales data along with the rains in the West Texas,
Published 05 Jun, 2016 12:00am
Brazil sugar flows to Myanmar seen rising as Indian exports abate

Brazil sugar flows to Myanmar seen rising as Indian exports abate

Brazilian low quality white sugar flows are expected to increase to Myanmar, believed to be a gateway for sugar smuggled into China, as Indian sweetener exports fall. Surging domestic sugar prices in India mean that Indian mills will increasingly spurn th
Published 05 Jun, 2016 12:00am
Argentina plans to boost crude output to 653,000 bpd by 2025

Argentina plans to boost crude output to 653,000 bpd by 2025

Argentina aims to eliminate its need for crude imports while increasing domestic oil output to 653,000 barrels per day (bpd) in 2025, a 23 percent increase from 2015, an official from the Energy Ministry said on Thursday. The South American country is wor
Published 05 Jun, 2016 12:00am
Black Sea wheat exports to fall 10 percent in 2016-17

Black Sea wheat exports to fall 10 percent in 2016-17

Wheat exports from Russia, Ukraine and Kazakhstan will fall 10.1 percent in the upcoming 2016/17 marketing year due to a smaller sowing area and dry autumn in Ukraine, a Reuters poll showed. The three global wheat exporters via the Black Sea, supplying cu
Published 05 Jun, 2016 12:00am
Consultant tempers expectations for Russian wheat sales to China

Consultant tempers expectations for Russian wheat sales to China

Russian wheat supplies to China are likely to remain fairly modest in coming years despite an agreement to expand exports as grain will only be admitted from a few of the main producing regions, the independent SovEcon agriculture consultancy said. Russia
Published 05 Jun, 2016 12:00am
Airline Swiss upgrades more CSeries jet orders

Airline Swiss upgrades more CSeries jet orders

Airline Swiss, part of Lufthansa , has decided to upgrade another five of its Bombardier CS100 jets on order to the larger variant and will likely do the same for another five, the carrier's CEO said on Saturday. Swiss, the launch customer for the new pla
Published 05 Jun, 2016 12:00am
Governments, central banks need to coordinate: Bank of Canada

Governments, central banks need to coordinate: Bank of Canada

Governments and central banks need a certain amount of coordination so they can discuss policies and consider the implications on debt levels and financial stability over the medium-term, Bank of Canada Governor Stephen Poloz said on Saturday. Poloz said
Published 05 Jun, 2016 12:00am
IMF releases bailout cash for Sri Lanka

IMF releases bailout cash for Sri Lanka

The IMF on Saturday released the first tranche of a $1.5 billion bailout for Sri Lanka, which is reeling after a government spending spree and facing a balance of payments crisis. The International Monetary Fund said the formal approval of a 36-month loan
Published 05 Jun, 2016 12:00am
Adani may withdraw from Australian coal mine project, citing delays

Adani may withdraw from Australian coal mine project, citing delays

Indian conglomerate Adani Enterprise Ltd may walk away from its proposal to build one of the world's biggest coal mines in Australia, citing long delays caused by legal challenges to the project by groups concerned about the environment. Adani is battling
Published 05 Jun, 2016 12:00am
Nigeria recovers $580 million in stolen funds
Currency

Nigeria recovers $580 million in stolen funds

Nigeria has in the past year recovered $580 million stolen from government coffers, the information minister said Saturday, part of a fight against corruption instigated by President Muhammadu Buhari. Buhari, who marks one year in office on Sunday, has em
Published 05 Jun, 2016 12:00am
Nigeria recovers $580 million in stolen funds
Currency

Nigeria recovers $580 million in stolen funds

Nigeria has in the past year recovered $580 million stolen from government coffers, the information minister said Saturday, part of a fight against corruption instigated by President Muhammadu Buhari. Buhari, who marks one year in office on Sunday, has em
Published 05 Jun, 2016 12:00am
Lufthansa CEO says rising protectionism hampering M&A

Lufthansa CEO says rising protectionism hampering M&A

The growing trend of protectionism worldwide is hampering cross-border consolidation in the airline industry, the chief executive of German airlines group Lufthansa said on Saturday. "To be honest I see protectionism around the world rising rather than mo
Published 05 Jun, 2016 12:00am
Argentina mutual funds could see 'explosive' growth

Argentina mutual funds could see 'explosive' growth

Mutual funds, whose assets comprise the largest share of investment vehicles in Argentina, will expand "explosively" once regulatory changes are put in place by the pro-business government of President Mauricio Macri, an industry leader said on Friday. Fr
Published 05 Jun, 2016 12:00am
Argentina mutual funds could see 'explosive' growth

Argentina mutual funds could see 'explosive' growth

Mutual funds, whose assets comprise the largest share of investment vehicles in Argentina, will expand "explosively" once regulatory changes are put in place by the pro-business government of President Mauricio Macri, an industry leader said on Friday. Fr
Published 05 Jun, 2016 12:00am
Fed's Mester says gradual rate hikes still appropriate after jobs report

Fed's Mester says gradual rate hikes still appropriate after jobs report

The latest disappointing US jobs number has not changed the overall economic picture and gradual rate hikes remain appropriate, Cleveland Federal Reserve President Loretta Mester said on Saturday. The Fed raised rates in December for the first time in nea
Published 05 Jun, 2016 12:00am
Most Finnish employees to work more days for same pay

Most Finnish employees to work more days for same pay

Finnish labour unions representing around 85 percent of the workforce have accepted the government's bid to increase working hours without a pay rise, officials said Friday. Once one of the top performers in the eurozone, Finland has been struggling for n
Published 05 Jun, 2016 12:00am
Moody's cuts Finland's AAA rating

Moody's cuts Finland's AAA rating

Moody's became the third rating agency to remove Finland's top-flight AAA credit rating Friday, saying it sees no improvement in the country's debt challenge over the coming five years. Moody's cut the Nordic country's rating by one notch to Aa1 following
Published 05 Jun, 2016 12:00am
Moody's cuts Finland's AAA rating

Moody's cuts Finland's AAA rating

Moody's became the third rating agency to remove Finland's top-flight AAA credit rating Friday, saying it sees no improvement in the country's debt challenge over the coming five years. Moody's cut the Nordic country's rating by one notch to Aa1 following
Published 05 Jun, 2016 12:00am
Economic zone becomes fourth firm to list on Cambodian bourse

Economic zone becomes fourth firm to list on Cambodian bourse

A Cambodian special economic zone debuted on the domestic stock market on Monday after an initial public offering raised around $8.2 million, becoming only the fourth company to list on the country's stock exchange. The Cambodia Securities Exchange (CSX),
Published 05 Jun, 2016 12:00am
LSE says Deutsche Boerse merger could mean 1,250 job cuts

LSE says Deutsche Boerse merger could mean 1,250 job cuts

London Stock Exchange Group said its planned $30 billion merger with German rival Deutsche Boerse could initially cut 1,250 jobs across the combined group and should eventually lead to 250 million euros ($279 million) in extra revenue a year. LSE, which a
Published 05 Jun, 2016 12:00am
Bad jobs print spells good news for bond market

Bad jobs print spells good news for bond market

The shockingly low jobs print Friday has quashed talk of an imminent Fed rates hike, meaning the green light is on for another surge of bond issuance, bankers say. The bond market looks to be one of the beneficiaries of what was an otherwise disappointing
Published 05 Jun, 2016 12:00am
Bad jobs print spells good news for bond market

Bad jobs print spells good news for bond market

The shockingly low jobs print Friday has quashed talk of an imminent Fed rates hike, meaning the green light is on for another surge of bond issuance, bankers say. The bond market looks to be one of the beneficiaries of what was an otherwise disappointing
Published 05 Jun, 2016 12:00am
TSX gains as gold miners jump

TSX gains as gold miners jump

Canada's main stock index gained on Friday as gold miners jumped with the precious metal after weak US jobs data hurt the US dollar, offsetting losses for financial stocks and some energy companies. Seventeen of the 20 most influential gainers on the inde
Published 05 Jun, 2016 12:00am
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