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Print - 2016-06-11
Grant of SEZ status to 3 estates in Punjab approved by BoI

Grant of SEZ status to 3 estates in Punjab approved by BoI

The Federal Board of Investment (BoI) on Thursday approved Special Economic Zone (SEZ) status for the three Industrial Estates in Punjab. These are: Quaid-e-Azam Apparel Park located at M-2 (Lahore - Islamabad Motorway) at a distance of 2 KMs from Shiekhu
Published 11 Jun, 2016 12:00am
India ministry rejects Google's Street View plans

India ministry rejects Google's Street View plans

Google's plans to introduce its popular "Street View" service in India have hit a roadblock after the interior ministry Friday said it had rejected an application from the tech giant, although the government could yet approve it. The company applied sever
Published 11 Jun, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 10, 2016).

Published 11 Jun, 2016 12:00am
India ministry rejects Google''s Street View plans

India ministry rejects Google''s Street View plans

Google''s plans to introduce its popular "Street View" service in India have hit a roadblock after the interior ministry Friday said it had rejected an application from the tech giant, although the government could yet approve it. The company applied seve
Published 11 Jun, 2016 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 10, 2016).

Published 11 Jun, 2016 12:00am
Sell-off of entities: TI Pakistan added to list

Sell-off of entities: TI Pakistan added to list

Privatisation Commission (PC) has reportedly included Telephone Industries of Pakistan in the list of entities approved for early sale after Defence Ministry's refusal to take over the entity with all liabilities, well-informed sources told Business Re
Published 11 Jun, 2016 12:00am
Sell-off of entities: TI Pakistan added to list

Sell-off of entities: TI Pakistan added to list

Privatisation Commission (PC) has reportedly included Telephone Industries of Pakistan in the list of entities approved for early sale after Defence Ministry's refusal to take over the entity with all liabilities, well-informed sources told Business Re
Published 11 Jun, 2016 12:00am
Sell-off of entities: TI Pakistan added to list

Sell-off of entities: TI Pakistan added to list

Privatisation Commission (PC) has reportedly included Telephone Industries of Pakistan in the list of entities approved for early sale after Defence Ministry''s refusal to take over the entity with all liabilities, well-informed sources told Business R
Published 11 Jun, 2016 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (June 10, 2016)

Published 11 Jun, 2016 12:00am
Budget Fiscal Year 2017: government open to suggestions: Dar

Budget Fiscal Year 2017: government open to suggestions: Dar

Finance Minister Ishaq Dar said on Friday that the government is open to suggestions on budget. "The government is open to suggestions and any changes/improvements in the budget proposals would reflect government's will to facilitate different sectors of
Published 11 Jun, 2016 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (June 10, 2016).

Published 11 Jun, 2016 12:00am
Budget Fiscal Year 2017: government open to suggestions: Dar

Budget Fiscal Year 2017: government open to suggestions: Dar

Finance Minister Ishaq Dar said on Friday that the government is open to suggestions on budget. "The government is open to suggestions and any changes/improvements in the budget proposals would reflect government's will to facilitate different sectors of
Published 11 Jun, 2016 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 11 Jun, 2016 12:00am
Budget Fiscal Year 2017: government open to suggestions: Dar

Budget Fiscal Year 2017: government open to suggestions: Dar

Finance Minister Ishaq Dar said on Friday that the government is open to suggestions on budget. "The government is open to suggestions and any changes/improvements in the budget proposals would reflect government''s will to facilitate different sectors of
Published 11 Jun, 2016 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 11 Jun, 2016 12:00am
Apology from minister: Mazari steps up pressure on Speaker
Cotton

Apology from minister: Mazari steps up pressure on Speaker

The issue of derogatory remarks of Defence Minister Khawaja Asif against PTI MNA Dr Shireen Mazari found its resonance in the National Assembly on the third consecutive day as the latter urged Speaker Ayaz Sadiq to decide on her privilege motion against t
Published 11 Jun, 2016 12:00am
Bullion Rates

Bullion Rates

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

Published 11 Jun, 2016 12:00am
Apology from minister: Mazari steps up pressure on Speaker
Cotton

Apology from minister: Mazari steps up pressure on Speaker

The issue of derogatory remarks of Defence Minister Khawaja Asif against PTI MNA Dr Shireen Mazari found its resonance in the National Assembly on the third consecutive day as the latter urged Speaker Ayaz Sadiq to decide on her privilege motion against t
Published 11 Jun, 2016 12:00am
The Weather

The Weather

The weather report on Friday (June 10, 2016) and the forecast for Saturday (June 11, 2016).

Published 11 Jun, 2016 12:00am
Industrialists irked by protracted loadshedding

Industrialists irked by protracted loadshedding

About 10-hour a day electricity load shedding during the month of Ramazan has panicked the industrialists by and large, running from pillar to post to pursue the government on the one hand and looking for alternative energy sources on the other. The Minis
Published 11 Jun, 2016 12:00am
Industrialists irked by protracted loadshedding

Industrialists irked by protracted loadshedding

About 10-hour a day electricity load shedding during the month of Ramazan has panicked the industrialists by and large, running from pillar to post to pursue the government on the one hand and looking for alternative energy sources on the other. The Minis
Published 11 Jun, 2016 12:00am
Industrialists irked by protracted loadshedding

Industrialists irked by protracted loadshedding

About 10-hour a day electricity load shedding during the month of Ramazan has panicked the industrialists by and large, running from pillar to post to pursue the government on the one hand and looking for alternative energy sources on the other. The Minis
Published 11 Jun, 2016 12:00am
Importance of reforms in economy

Importance of reforms in economy

According to a World Bank report on "Global Economic Prospects" published on 7th June, 2016, reform delays in Pakistan such as entrenched political obstacles to privatisation, would compromise future productivity and dampen growth prospects. Such delays w
Published 11 Jun, 2016 12:00am
Budget and provinces

Budget and provinces

The Pakistan Business Council (PBC) has sent post-budget proposals to Federal Finance Minister Ishaq Dar, urging him to make appropriate changes to narrow the disharmony that currently prevails in relations between the centre and the provincial government
Published 11 Jun, 2016 12:00am
It's all about state governance

It's all about state governance

The gaps in the governance of state affairs have escalated to a level which is alarming and pose a significant threat to national interests. Be it nation's foreign policy, economic policy, energy policy, internal and external security of the nation, there
Published 11 Jun, 2016 12:00am
Pakistan's role: Political dynamics of South China Sea maritime claims

Pakistan's role: Political dynamics of South China Sea maritime claims

Littoral states in South China Sea have historically been vying for maritime's claims on multiple islands located in the ocean in order to gain fresh resources in terms of energy, oil and other consequential economic benefits by laying their hands to the
Published 11 Jun, 2016 12:00am
How Yemen's wartime central bank keeps country afloat
Currency

How Yemen's wartime central bank keeps country afloat

As civil war engulfs Yemen, the central bank is so committed to staying neutral that it pays salaries of soldiers on both sides. The bank distributes money to public-sector workers in both government and rebel-held areas, and guarantees payments for vital
Published 11 Jun, 2016 12:00am
'An exercise in futility?'

'An exercise in futility?'

No doubt, Business Recorder op-ed writer Saida Fazal, has touched a raw nerve when she mentioned in her last article "interestingly, the ruling PML-N's rightwing religious constituency still supports him. Which is an enigma of sorts considering tha
Published 11 Jun, 2016 12:00am
Oil down three percent as US drillers add rigs, strong dollar weighs

Oil down three percent as US drillers add rigs, strong dollar weighs

Oil prices settled down 3 percent on Friday after data showing the US oil drilling rig count rising for a second week in row and a stronger dollar weighed on demand for greenback-denominated crude futures. A slide of more than 1 percent in Wall Street sha
Published 11 Jun, 2016 12:00am
Zakat, Fitra: Rangers to take action against forced collection

Zakat, Fitra: Rangers to take action against forced collection

Sindh Rangers have decided to initiate crackdown against all those involved in forced collection of Zakat (alms) and Fitra during the holy month of Ramazan. Rangers' spokesperson has asked the locals to point-out individuals or organisations involved in f
Published 11 Jun, 2016 12:00am
CM Sindh inaugurates Orange Line Transport System

CM Sindh inaugurates Orange Line Transport System

Sindh Chief Minister has said that his government had carried out a number of development projects for the benefit of the people of the area. "We have given underpasses, flyover and now giving efficient transport system to Karachi. This is your government
Published 11 Jun, 2016 12:00am
Value-added export sectors await issuance of SRO

Value-added export sectors await issuance of SRO

Chairman, Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Sindh Zone, Arshad Aziz has asked the Federal Minister for Finance and the FBR chairman to immediately issue the notification for zero-rating of five export sectors so
Published 11 Jun, 2016 12:00am
Workers' remittances rise five percent in 11 months of Fiscal Year 2016

Workers' remittances rise five percent in 11 months of Fiscal Year 2016

Workers' remittances sent by overseas Pakistanis continued to surge and posted over five percent growth during the first eleven months of this fiscal year (FY16). Overseas Pakistani workers remitted $17.842 billion in the first eleven months (July to May)
Published 11 Jun, 2016 12:00am
KS&EW, PN sign contract

KS&EW, PN sign contract

The Ministry of Defence Production (MoDP) and Karachi Shipyard & Engineering Works (KS&EW) on Friday signed a contract for the construction of two tugs and one Multipurpose Barge (MPB). Under the contract, KS&EW will construct two 32 Tons Bollard Pull (TB
Published 11 Jun, 2016 12:00am
Sindh opposition parties criticise government

Sindh opposition parties criticise government

A meeting of opposition parties in Sindh Assembly (SA) was held at the office of leader of opposition in SA Khawaja Izhar Ul Hassan of Muttahida Qaumi Movement (MQM) on Friday. Hassan chaired the meeting. Members of provincial assembly (MPA) from Pakistan
Published 11 Jun, 2016 12:00am
SHC reserves verdict on petition against film Malik's ban

SHC reserves verdict on petition against film Malik's ban

The Sindh High Court on Friday reserved its verdict on a petition filed by film Malik's director, challenging country-wide ban on his first. The SHC bench, headed by Chief Justice Sajjad Ali Shah, reserved its verdict after the petitioner's counsel Barris
Published 11 Jun, 2016 12:00am
Brutal murder of woman: PTI leader demands trial by military court

Brutal murder of woman: PTI leader demands trial by military court

Pakistan Tehreek Insaf leader and former governor Punjab Chaudhry Muhammad Sarwar has demanded military court trial of people who have been accused of setting women on fire and murdering them in a brutal way. Punjab has become the death Valley for women.
Published 11 Jun, 2016 12:00am
Price control: Revenue Officers conduct surprise raids

Price control: Revenue Officers conduct surprise raids

The Revenue officers having magisterial powers have conducted surprised raids at the markets of their respective districts and imposed fine upon those shopkeepers who were found selling the produces above from fixed prices on Friday.
Published 11 Jun, 2016 12:00am
Punjab Health Reforms Roadmap: CM reviews pace of implementation

Punjab Health Reforms Roadmap: CM reviews pace of implementation

Punjab Chief Minister Muhammad Shahbaz Sharif presided over a high level meeting here Friday which reviewed the pace of implementation of Punjab Health Reforms Roadmap. The meeting continued for three hours. The Chief Minister said that there is a need fo
Published 11 Jun, 2016 12:00am
Faithful throng mosques on first Friday of Ramazan

Faithful throng mosques on first Friday of Ramazan

The faithful thronged to mosques to offer Juma prayers on the first Friday of the holy month of Ramazan in the provincial metropolis. In order to meet extra rush of Namazis, mosques administration had to make extra arrangements. Large Juma congregations w
Published 11 Jun, 2016 12:00am
PFVA gets green signal for mango exports to Iran

PFVA gets green signal for mango exports to Iran

The State Bank of Pakistan (SBP) has given green signal to traders for exporting mangoes to Iran. Recently, Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (PFVA) approached the SBP, inquiring about the current status of trade
Published 11 Jun, 2016 12:00am
CM Punjab visits Ramazan Bazaars, examines prices

CM Punjab visits Ramazan Bazaars, examines prices

Punjab Chief Minister Muhammad Shahbaz Sharif, after returning to the country from London Friday, paid a surprise visit to Ramazan Bazaar Township without protocol, and reviewed prices and quality of fruits, vegetables, flour, sugar, chicken and other ess
Published 11 Jun, 2016 12:00am
Punjab government notifies new Special Ramazan Bazaar timings

Punjab government notifies new Special Ramazan Bazaar timings

The Punjab government has increased the timings of Special Ramazan Bazaars and now these will remain open till 9:00 pm so as faithful can also purchase items of need even after Iftaar. This was disclosed by the Punjab Food Minister and Chairman Price Cont
Published 11 Jun, 2016 12:00am
President for protecting women at workplaces

President for protecting women at workplaces

President Mamnoon Hussain on Friday directed the Federal Ombudsman for Protection against Harassment of Women at the Work-place to equip women with advanced technology, give them protection and increase their confidence at the work-place. He said this whi
Published 11 Jun, 2016 12:00am
Pakistani ambassador attends funeral of Muhammad Ali

Pakistani ambassador attends funeral of Muhammad Ali

Pakistan's ambassador to the United States Jalil Abbas Jilani attended the funeral of legendary boxer Muhammad Ali held in the state of Kentucky, the United States on Thursday. He paid rich tribute to late Muhammad Ali on behalf of the Prime Minister Muha
Published 11 Jun, 2016 12:00am
PPAF CEO attends World Humanitarian Summit in Turkey

PPAF CEO attends World Humanitarian Summit in Turkey

Qazi Azmat Isa, CEO of the Pakistan Poverty Alleviation Fund (PPAF), participated in the first ever World Humanitarian Summit held in Turkey. The international conference focused on multiple global humanitarian crises and was committed to supporting peopl
Published 11 Jun, 2016 12:00am
University of Sindh upgrades seven assistant professors to BPS-20

University of Sindh upgrades seven assistant professors to BPS-20

University of Sindh upgraded seven Assistant Professors from BPS-19 to BPS-20 under approval of Honourable Governor Sindh/ Chancellor, Universities in Sindh under hardship scheme. This development came about as a part of Sindh Governor's special relief pa
Published 11 Jun, 2016 12:00am
FDMA meeting reviews repatriation of FATA TDPs

FDMA meeting reviews repatriation of FATA TDPs

Khyber Pakhtunkhwa Governor Iqbal Zafar Jhagra has said that the dignified return of dislocated tribal families to their native places was the top priority of the government. "The people of FATA have rendered great sacrifices for peace of entire region an
Published 11 Jun, 2016 12:00am
APBF voices concern over negative impact of terrorism on economy

APBF voices concern over negative impact of terrorism on economy

The All Pakistan Business Forum (APBF) has expressed its concerns over the major negative impact of terrorism on the national economy. Over the Past decades, Pakistan's economy has suffered direct and indirect losses of more than 67.9 Billion US Dollar, d
Published 11 Jun, 2016 12:00am
Supreme Court urged to direct HGOs to lower Hajj package rates

Supreme Court urged to direct HGOs to lower Hajj package rates

The apex court was urged on Friday to direct private Hajj Group Organisers (HGOs) to minimise Hajj package rates at par with the government package. The petitioner also sought a ban on quota to private HGOs. Making Federal Law Ministry and Ministry of Rel
Published 11 Jun, 2016 12:00am
KP PSC schedules practical test for stenographer's posts

KP PSC schedules practical test for stenographer's posts

The Khyber Pakhtunkhwa Public Service Commission has schedule Practical Test for the post of Senior/Junior scale stenographer in various departments to be held from 20th June to 5th July 2016 at Khyber Pakhtunkhwa Public Service Commission Hall-A. Accordi
Published 11 Jun, 2016 12:00am
PTI MNA for action against profiteers

PTI MNA for action against profiteers

Pakistan Tehreek-e-Insaf (PTI) PS-112 MPA Khurrum Sherzaman demanded immediate action against Ramazan profiteers. Sherzaman expressed outrage over this price gouging by vendors. Its appalling that in a Muslim country like Pakistan that wholesalers and ret
Published 11 Jun, 2016 12:00am
Three held under FIA's anti-human smuggling drive

Three held under FIA's anti-human smuggling drive

The Federal Investigation Agency (FIA) on Friday arrested three travel agents who were allegedly involved in human smuggling and were using fake protector's stamps. The agency, following the directives of Interior Minister, launched countrywide crackdown
Published 11 Jun, 2016 12:00am
No unscheduled load-shedding: Pesco

No unscheduled load-shedding: Pesco

Peshawar Electric Supply Company (Pesco) is not carrying out any unscheduled or excessive load shedding in any part of the Khyber Pakhtunkhwa. According to a spokesman of the company, for the provision of electricity to domestic consumers, power supply to
Published 11 Jun, 2016 12:00am
FBR issues instructions to commissioners, RTOs, LTUs

FBR issues instructions to commissioners, RTOs, LTUs

The Federal Board of Revenue (FBR) has announced that no advance income tax u/s 153(1)(a)of the Income Tax Ordinance be deducted in case the purchase of agricultural produce is made directly from the growers or growers making sales through commission agen
Published 11 Jun, 2016 12:00am
Heroin powder seized

Heroin powder seized

Pakistan Customs Staff at Islamabad Airport has seized fine quality white heroin powder from accused Muhammad Siddique of Khushab who was travelling to Madina via Doha through Qatar Air, Flight no QR 633. The value of the seized heroin in international ma
Published 11 Jun, 2016 12:00am
Ufone announces Ramazan 2016 Campaign

Ufone announces Ramazan 2016 Campaign

Ufone on Friday announced Ramazan 2016 campaign to shed limelight on three different humanitarian initiatives, enabling them to reach out widely to the masses with their messaging seeking inspiration and support to their causes for the benefit of the dese
Published 11 Jun, 2016 12:00am
Levy of tax: Clearing agents threaten to launch protest movement

Levy of tax: Clearing agents threaten to launch protest movement

Customs clearing agents has given one-week deadline to provincial government for withdrawal of decision for levying one percent infrastructure development cess on imported items and threatened to launch protest movement if their demand was not met. The de
Published 11 Jun, 2016 12:00am
PM's Laptop Scheme: Mehran University students receive laptops

PM's Laptop Scheme: Mehran University students receive laptops

The students of Master's Programme and Ph.D. scholars of Mehran University of Engineering and Technology Jamshoro Friday received laptops under Prime Minister's Laptop Scheme. The Vice Chancellor Professor Dr Muhammad Aslam Uqaili distributed laptops to t
Published 11 Jun, 2016 12:00am
Court upholds life sentence for political activist

Court upholds life sentence for political activist

A court has upheld the life sentence of a political activist from the country's semi-autonomous north, which observers say could see a "nationalist upsurge". Baba Jan, a left wing political activist from the Hunza Valley in Gilgit-Baltistan, was convicted
Published 11 Jun, 2016 12:00am
Fans on Facebook UBL crosses one million mark

Fans on Facebook UBL crosses one million mark

United Bank Limited (UBL), Pakistan's Best Bank as declared at the Pakistan Banking Awards 2016, recently became the first Pakistani bank to achieve 1 million likes on its Facebook page. According to UBL, the milestone is a testament to the bank's achieve
Published 11 Jun, 2016 12:00am
Punjab government providing relief to consumers, claims minister

Punjab government providing relief to consumers, claims minister

Punjab Minister for Minority Affairs & Human Rights Khalil Tahir Sindhu has said that Punjab government has made elaborate arrangements for providing economic relief to the consumers during the holy month of Ramazan under which essential commodities were
Published 11 Jun, 2016 12:00am
Banking transactions: LCCI urges government to withdraw WHT

Banking transactions: LCCI urges government to withdraw WHT

The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to withdraw withholding tax on banking transactions immediately which has created unrest among the business community. The LCCI President Sheikh Muhammad Arshad on Friday said tha
Published 11 Jun, 2016 12:00am
M-3 Industrial City: FCCI chief lauds decision of granting SEZ status

M-3 Industrial City: FCCI chief lauds decision of granting SEZ status

Chaudhary Muhammad Nawaz, President Faisalabad Chamber of Commerce & Industry (FCCI) has welcomed the recent decision to grant status of Special Economic Zone (SEZ) to M-3 Industrial City and Value Addition City Faisalabad and said that it will not only a
Published 11 Jun, 2016 12:00am
PIAF urges LDA to shelve KKIE conversion plan

PIAF urges LDA to shelve KKIE conversion plan

Pakistan Industrial and Traders Associations Front (PIAF) has urged the Lahore Development Authority (LDA) to shelve the plan of conversion of Kahna Kacha Industrial Estate (KKIE) into a residential scheme as this initiative would result in dire consequen
Published 11 Jun, 2016 12:00am
Consumption of soft drinks during Iftar, Sehr harmful: experts

Consumption of soft drinks during Iftar, Sehr harmful: experts

Health professionals have warned people over consumption of soft drinks during 'Iftar' and 'Sehr' saying these are harmful for health and may cause diseases like diarrhoea, gastroenteritis, dehydration, renal problems. These experts, however, advised peop
Published 11 Jun, 2016 12:00am
Global bond rally puts 10-year German yields within a whisker of zero

Global bond rally puts 10-year German yields within a whisker of zero

Germany's 10-year Bund yield hit a new record low on Friday and was within a hair's breadth of zero, as worries about global growth and political risks ensured a bullish tone for safe-haven debt markets across the globe. As Bund yields took a step closer
Published 11 Jun, 2016 12:00am
Sri Lankan rupee rises
Currency

Sri Lankan rupee rises

Sri Lankan rupee forwards rose on Friday as dollar conversions by foreign investors and banks surpassed importer demand for the US currency, dealers said. The spot rupee, which was traded actively for a third straight day, also rose, they added. Dollar/ru
Published 11 Jun, 2016 12:00am
Yen rises on safe-haven bids, dollar recovers in NY
Currency

Yen rises on safe-haven bids, dollar recovers in NY

A broad decline in commodity and stock prices in major world markets lifted the yen on Thursday as investors piled money into low-risk assets due to jitters about prolonged low inflation and negative interest rates. The yen, which investors prefer in time
Published 11 Jun, 2016 12:00am
Early trade in New York: Yen, Swiss franc rise
Currency

Early trade in New York: Yen, Swiss franc rise

The yen and Swiss franc rose on Friday as oil prices slid and bank shares led global equity markets lower, stoking a fresh wave of bids for low-risk assets. Jitters about the June 23 referendum on Britain's membership in the European Union intensified the
Published 11 Jun, 2016 12:00am
Swiss franc hits eight-week high in Europe on safe-haven demand
Currency

Swiss franc hits eight-week high in Europe on safe-haven demand

Worries that Britain could vote to leave the European Union in two weeks' time spread across the currency market on Friday, with the safe-haven yen hitting an eight-week high as investors ditched riskier assets for safety. As a risk-off mood across market
Published 11 Jun, 2016 12:00am
Dollar enjoys reprieve in Asia as euro, sterling feel the heat
Currency

Dollar enjoys reprieve in Asia as euro, sterling feel the heat

The dollar index was on track for a modest weekly gain on Friday, having bounced off this week's one-month lows as the euro took a heavy spill while sterling stayed under a cloud on jitters over the upcoming Brexit vote. The dollar index added 0.3 percent
Published 11 Jun, 2016 12:00am
FTSE hits three-week low as financials, Tesco fall

FTSE hits three-week low as financials, Tesco fall

Britain's top share index fell on Friday, hit by a drop in grocer Tesco and major financial and commodity stocks, while uncertainty over the vote on European Union membership also weighed on the market. The bluechip FTSE 100 index was down 1.9 percent at
Published 11 Jun, 2016 12:00am
Tokyo stocks fall

Tokyo stocks fall

Tokyo shares closed lower Friday as oil-linked firms were hit by a drop in crude prices, with investors eyeing central bank meetings in the US and Japan next week. The strong yen and Britain's possible exit from the European Union also weighed on the Japa
Published 11 Jun, 2016 12:00am
Sri Lankan shares end steady in thin volume

Sri Lankan shares end steady in thin volume

Sri Lankan shares ended steady on Friday as positive sentiment after an IMF loan approval offset concerns over rising interest rattes and foreign fund outflows. Turnover was 275.1 million rupees ($1.90 million), the lowest since March 19, and less than ha
Published 11 Jun, 2016 12:00am
European shares end near four-week lows as Brexit vote looms

European shares end near four-week lows as Brexit vote looms

European shares fell to near a four-week low on Friday, with Lufthansa dropping after the surprise departure of its finance chief, while political worries put pressure on cyclical stocks on the last trading day of the week. Investors are jittery before a
Published 11 Jun, 2016 12:00am
Indian shares post first weekly loss in three

Indian shares post first weekly loss in three

Indian shares ended lower on Friday, marking their first weekly loss in three, as caution prevailed ahead of the US Federal Reserve meeting next week and a vote in Britain later this month about whether to leave the European Union. The BSE index fell 0.48
Published 11 Jun, 2016 12:00am
Southeast Asian stocks jittery ahead of Fed meeting, Brexit referendum

Southeast Asian stocks jittery ahead of Fed meeting, Brexit referendum

Southeast Asian stock markets closed lower on Friday ahead of a US Federal Reserve meeting next week that is likely to take a call on an interest rate increase, and the UK referendum later this month on Britain's exit from the European Union. The number o
Published 11 Jun, 2016 12:00am
Hong Kong stocks drop on reports Soros making bearish bets
Currency

Hong Kong stocks drop on reports Soros making bearish bets

Hong Kong stocks suffered their biggest one-day drop in more than three weeks on Friday as traders were rattled by a report that billionaire investor George Soros, a noted China sceptic, was making big, bearish bets again. The Hang Seng index lost 1.2 per
Published 11 Jun, 2016 12:00am
Treasury yields fall on global growth concerns

Treasury yields fall on global growth concerns

US Treasury yields fell to the lowest levels since February on Thursday as falling oil and stock prices increased demand for safe-haven debt amid concerns about global growth. British and German sovereign debt yields fell to record lows, driven by concern
Published 11 Jun, 2016 12:00am
Treasury yields fall on global growth concerns

Treasury yields fall on global growth concerns

US Treasury yields fell to the lowest levels since February on Thursday as falling oil and stock prices increased demand for safe-haven debt amid concerns about global growth. British and German sovereign debt yields fell to record lows, driven by concern
Published 11 Jun, 2016 12:00am
TSX down

TSX down

Canada's main stock index fell on Thursday after hitting its highest level since August a day earlier, with energy stocks hurt by oil's pullback and financials down with bond yields and a Bank of Canada warning on the country's housing market. The Toronto
Published 11 Jun, 2016 12:00am
Wall Street retreats with oil prices after three-day rally

Wall Street retreats with oil prices after three-day rally

US stocks retreated on Thursday after three days of gains as oil prices fell and global growth worries drove investors to safer assets like bonds. Energy shares declined 0.5 percent as crude oil prices also snapped a three-day streak of gains, while the m
Published 11 Jun, 2016 12:00am
Australian shares fall

Australian shares fall

Australian shares fell 0.92 percent on Friday, reflecting broad-based losses across all sectors and tracking a selloff across global equities on heightened risk aversion. The S&P/ASX 200 index was down 49.34 points at 5,312.6 at the close of trade, its bi
Published 11 Jun, 2016 12:00am
Global bond rally puts 10-year German yields within a whisker of zero

Global bond rally puts 10-year German yields within a whisker of zero

Germany's 10-year Bund yield hit a new record low on Friday and was within a hair's breadth of zero, as worries about global growth and political risks ensured a bullish tone for safe-haven debt markets across the globe. As Bund yields took a step closer
Published 11 Jun, 2016 12:00am
German economy had decent start to Q2, but growth to slow

German economy had decent start to Q2, but growth to slow

The German economy had a decent start to the second quarter but its growth pace is likely to slow during the course of the April-June period, the economy ministry said on Friday. Europe's largest economy was on a solid growth path, the ministry said in it
Published 11 Jun, 2016 12:00am
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