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May 15, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-07-22
Cotton market erase earlier gains
Cotton

Cotton market erase earlier gains

After rising continuously since the beginning of this month posting an increase of nearly Rs 700 to Rs 800 per maund (37.32 Kgs), lint prices have conceded a loss reported to range from Rs 100 to Rs 150 per maund (37.32 Kgs) over the past coupCe of days.
Published 22 Jul, 2016 12:00am
Cotton market erase earlier gains
Cotton

Cotton market erase earlier gains

After rising continuously since the beginning of this month posting an increase of nearly Rs 700 to Rs 800 per maund (37.32 Kgs), lint prices have conceded a loss reported to range from Rs 100 to Rs 150 per maund (37.32 Kgs) over the past coupCe of days.
Published 22 Jul, 2016 12:00am
US Midwest corn and soyabean bids firmer

US Midwest corn and soyabean bids firmer

Corn and soyabean spot basis bids at elevators and processors around the US Midwest on Tuesday were steady to firm on minimal farmer sales following the pullback in futures prices for both grains, merchants said.
Published 22 Jul, 2016 12:00am
USAID projects: opening session of workshop on audits inaugurated

USAID projects: opening session of workshop on audits inaugurated

US Consul General in Lahore Zachary Harkenrider and Additional Auditor General of Pakistan Javaid Jehangir inaugurated the opening session of a three-day workshop on audits of US Agency for International Development (USAID) projects. The workshop was join
Published 22 Jul, 2016 12:00am
What a silly thing to say!

What a silly thing to say!

How ironic it is that although you are on an election trail, you are asking people to distribute sweets if the elected government of Nawaz Sharif is overthrown by the military. Pakistan Tehreek-e-Insaf chairman Imran Khan couldn't be more implausible - to
Published 22 Jul, 2016 12:00am
Penny wise and pound foolish

Penny wise and pound foolish

The recent hike in retail prices due to enhancement of excise duty is hurting the cigarette manufacturers because the sale of smuggled or excise-evaded cigarettes has risen. As a result, the two major cigarette manufacturers have now agreed to the proposa
Published 22 Jul, 2016 12:00am
Taxation for welfare

Taxation for welfare

In Pakistan ironically, the less-privileged are subjected to heavy and cruel taxation to finance the luxuries of militro-judicial-civil complex and politicians-who enjoy free perquisites, benefits, including expensive plots at prime locations. The way the
Published 22 Jul, 2016 12:00am
How (and why) not to stage a coup

How (and why) not to stage a coup

With rumours of possible coups in Turkey in the air for some time, it is surprising that the night of 15/16 July came as a surprise. When a few prestigious international organisations cancelled their meetings in Istanbul in May and June, Turkish intellige
Published 22 Jul, 2016 12:00am
Turks protest coup attempt in Istanbul, Ankara and Berlin

Turks protest coup attempt in Istanbul, Ankara and Berlin

The president called, and thousands came. Even in Berlin, many Turks followed Erdogan's call to take to the streets to protest the military coup in their home country. What does this say about the Turkish community in the German capital? When parts of the
Published 22 Jul, 2016 12:00am
Cotton futures break losing streak, up on weather, sales
Cotton

Cotton futures break losing streak, up on weather, sales

ICE cotton futures rose on Thursday, snapping three straight losing sessions, on concerns over weather and a positive weekly sales report amid a weaker dollar. "There is still concern with hot weather in Texas for the next two weeks and conditions are det
Published 22 Jul, 2016 12:00am
US MIDDAY: gold climbs

US MIDDAY: gold climbs

Gold rebounded above a three-week low and rose 1 percent on Thursday, as the dollar fell and the key stock indexes hovered below record highs after the European Central Bank left key interest rates unchanged. The ECB held rates at record lows as it seeks
Published 22 Jul, 2016 12:00am
NEW YORK: corn falls, soya up

NEW YORK: corn falls, soya up

US corn futures fell for the third day in a row on Thursday, with good weather for crop development in the US Midwest and poor exports pushing prices to their lowest in nearly two years. Wheat futures also weakened but soyabeans firmed, supported by signs
Published 22 Jul, 2016 12:00am
Gold holds above three-week low in Europe
Currency

Gold holds above three-week low in Europe

Gold remained above a three-week low on Thursday, as the dollar and European shares fell after the European Central Bank left key interest rates unchanged, but better-than-expected US jobs data weighed. The ECB held rates at record lows as it seeks to rev
Published 22 Jul, 2016 12:00am
Gold recovers in Asia

Gold recovers in Asia

Gold came off a three-week low to trade marginally higher on Thursday as the dollar slipped while investors awaited cues from a European Central Bank policy meeting due later in the day. Spot gold was up 0.1 percent at $1,317.40 an ounce by 0644 GMT. Earl
Published 22 Jul, 2016 12:00am
Gold tumbles in New York

Gold tumbles in New York

Gold fell to its lowest level in three weeks on Wednesday as equities rose and the dollar hit a four-month high following strong US economic data, which raised expectations the Federal Reserve may hike interest rates before the end of the year. Spot gold
Published 22 Jul, 2016 12:00am
Sugar extends gains on Middle East deals; cocoa sinks

Sugar extends gains on Middle East deals; cocoa sinks

Sugar futures on ICE surged on Thursday, supported by chart-based buying and physical purchases by Egypt and Iran, while cocoa fell for the third straight session to multi-week lows on demand concerns and increasingly weak technical signals. Coffee, meanw
Published 22 Jul, 2016 12:00am
Palm oil hits two-week top

Palm oil hits two-week top

Malaysian palm oil futures extended gains on Thursday, climbing to the highest in more than two weeks with prices underpinned by strong demand of the vegetable oil. A weaker Malaysian ringgit, which makes palm oil cheaper for importers holding other curre
Published 22 Jul, 2016 12:00am
ODA slashes French soft wheat crop estimate

ODA slashes French soft wheat crop estimate

ODA Groupe has lowered its estimate of this year's soft wheat harvest in France by 3 million tonnes to 32 million tonnes, as latest field surveys showed poorly formed wheat kernels, the consultancy said on Tuesday. It is the second time in a week ODA has
Published 22 Jul, 2016 12:00am
Oil down two percent as record US stockpiles heighten glut worry

Oil down two percent as record US stockpiles heighten glut worry

Oil prices fell 2 percent on Thursday, as the market took a closer look at US government data that showed growing inventories of gasoline and other oil products pushed total petroleum supplies in the No 1 oil consumer to record highs. In the previous sess
Published 22 Jul, 2016 12:00am
Nickel and zinc touch new peaks as speculators pile in
Currency

Nickel and zinc touch new peaks as speculators pile in

Nickel hit a 10-month peak on Thursday and zinc touched its highest in 14 months as speculators kept buying, but analysts cautioned that rallies are vulnerable to corrections. A softer dollar and higher risk appetite also supported the industrial metals c
Published 22 Jul, 2016 12:00am
Shanghai copper rises

Shanghai copper rises

Shanghai Futures Exchange copper rose by half a percent to 38,650 yuan ($5,791) a tonne on Thursday, finding some support as the dollar eased from a four-month high, and after China's copper imports remained solid in June. The dollar eased back from a fou
Published 22 Jul, 2016 12:00am
CM Balochistan for protection of fishermen's rights

CM Balochistan for protection of fishermen's rights

Chief Minister Balochistan Nawab Sanaullah Khan Zehri has said that provincial government would safeguard the rights of fishermen at any cost. "I had issued directives of complete ban on utilisation of net wire and illegal fishing within the limits of Bal
Published 22 Jul, 2016 12:00am
2015, 2016 UET Peshawar announces B Tech annual exam schedule

2015, 2016 UET Peshawar announces B Tech annual exam schedule

University of Engineering and Technology (UET) Peshawar has announced schedule for B.Tech, 1st & 2nd year (four years programme, Old & new course) Annual Examination 2015 & 2016. According to the notification issued by the Controller of Examinations, B.Te
Published 22 Jul, 2016 12:00am
Importers buy Brazilian soybeans, Canadian canola

Importers buy Brazilian soybeans, Canadian canola

Importers have in recent weeks purchased about 330,000 tonnes of soybeans to be sourced from Brazil and also recently bought about 30,000 tonnes of Canadian canola, European traders said on Thursday. The soybeans are for shipment between February and May
Published 22 Jul, 2016 12:00am
Resolution of issues: SITE office-bearers express optimism

Resolution of issues: SITE office-bearers express optimism

Chairman SITE Association of Trade and Industry Aamir Shahab and Senior Vice Chairman Muhammad Shahid Qaimkhani have expressed hope that the issues particularly the environment being faced by SITE Hyderabad would be resolved after assurance of the high up
Published 22 Jul, 2016 12:00am
No major incident reported during AJK polls

No major incident reported during AJK polls

Vote count is under way as polling ended for general elections on 41 seats of Azad Jammu and Kashmir Legislative Assembly on Thursday amid tight security arrangements. Like other cities, voters polled on Thursday in twin cities for three refugee seats in
Published 22 Jul, 2016 12:00am
Forex reserves hit record $23.09 billion level

Forex reserves hit record $23.09 billion level

The country's total liquid foreign exchange reserves surged to record level of $23.09 billion end of last week supported by arrival of foreign inflows. According to State Bank of Pakistan's (SBP) weekly foreign exchange report issued on Thursday, the coun
Published 22 Jul, 2016 12:00am
Former justice appointed chairperson of Sindh Service Tribunal

Former justice appointed chairperson of Sindh Service Tribunal

The Government of Sindh, Law Department has in pursuance of Section 2 of the Sindh Services Tribunal (Second Amendment) Act, 2015, with approval of the Competent Authority (Chief Minister) and with consultation of Chief Justice, High Court of Sindh, hereb
Published 22 Jul, 2016 12:00am
Suspect managed to escape police custody

Suspect managed to escape police custody

An attempted-murder suspect Shah Hussain on Thursday managed to escape from police custody with the help of lawyers after an additional district & session's judge dismissed his pre-arrest bail. The suspect, a student of law and son of a practicing lawyer,
Published 22 Jul, 2016 12:00am
TDAP scam Case adjourned till August 25

TDAP scam Case adjourned till August 25

Federal Anti-Corruption Court (ACC) on Thursday adjourned the hearing of former Prime Minister Syed Yousuf Raza Gillani and other accused in Trade Development Authority of Pakistan (TDAP) scandal case till August 25. During the course of hearing Yousuf Ra
Published 22 Jul, 2016 12:00am
Nine firms to participate in China home textiles expo

Nine firms to participate in China home textiles expo

Nine companies from Pakistan will participate in Intertextile Shanghai Home Textiles exhibition schedule to be held from August 24 to 27, in Shanghai. Asia's leading exhibition for home textiles industry will accommodate around 1,400 international and dom
Published 22 Jul, 2016 12:00am
Son of MQM lawmaker detained by police

Son of MQM lawmaker detained by police

The Karachi Police raided the house of MQM lawmaker Abdul Qadir Khanzada on Wednesday night and detained his son. According to eyewitnesses, police entered the residence of Abdul Qadir Khanzada from a neighbour's house. More than 25 police personnel and t
Published 22 Jul, 2016 12:00am
Sugar price increased by Rs 5 per kg

Sugar price increased by Rs 5 per kg

Sugar price has witnessed a significant increase during the past two days - from Rs 70 per kg to Rs 75 per kg. According to traders, the commodity price is likely to remain on the high side during the next few months as a result of hoarding and revision i
Published 22 Jul, 2016 12:00am
Resignations of two judges accepted

Resignations of two judges accepted

The competent authority that is Sindh Chief Minister has accepted the resignation tendered by Nadir Khan Burdi, Civil Judge & Judicial Magistrate (BS-18), Malir with effect from June 11, 2016. The Sindh CM has also accepted the resignation tendered by Ali
Published 22 Jul, 2016 12:00am
Dar urged to withdraw RD on sugar

Dar urged to withdraw RD on sugar

Senior Vice Chairman of Pakistan Biscuit & Confectionery Manufacturers Association (PBCMA), Raees Ahmed has urged the Finance Minister Ishaq Dar to withdraw 40 percent regulatory duty on sugar which is the main reason for high sugar prices. In a letter to
Published 22 Jul, 2016 12:00am
Dar urged to withdraw RD on sugar

Dar urged to withdraw RD on sugar

Senior Vice Chairman of Pakistan Biscuit & Confectionery Manufacturers Association (PBCMA), Raees Ahmed has urged the Finance Minister Ishaq Dar to withdraw 40 percent regulatory duty on sugar which is the main reason for high sugar prices. In a letter to
Published 22 Jul, 2016 12:00am
National Assembly briefed about arrangements for Hajj 2016

National Assembly briefed about arrangements for Hajj 2016

National Assembly Standing Committee on Religious Affairs and Interfaith Harmony recommended that Hajj training be made mandatory for the pilgrims before their departure. The committee meeting took place on Thursday under the Chairmanship of Hafiz Abdul K
Published 22 Jul, 2016 12:00am
Hate speeches: Waseem sent on five-day physical remand

Hate speeches: Waseem sent on five-day physical remand

An Anti-Terrorism Court (ATC) on Thursday sent Muttahida Qaumi Movement leader and nominated mayor of Karachi Waseem Akhtar on physical remand till 25th July 2016 in cases pertaining to arranging and facilitating hate speeches of his party chief. Malir Po
Published 22 Jul, 2016 12:00am
Seminar on 'water and sanitation roadmap 2020-25' held

Seminar on 'water and sanitation roadmap 2020-25' held

The Punjab Government is committed to invest in the water sector and funds worth Rs 62.7 billion have been allocated for this purpose in the current financial year - which is nearly five times more than the last four allocations. This was stated by Punjab
Published 22 Jul, 2016 12:00am
Yayvo.com launches education e-store

Yayvo.com launches education e-store

The nation's fastest growing online shopping portal, Yayvo.com has set another benchmark in Pakistan's online shopping industry by launching the first ever Education e-store. Offering a one-stop solution for the needs of parents, students, teachers and sc
Published 22 Jul, 2016 12:00am
Law, order situation improving fast: President

Law, order situation improving fast: President

President Mamnoon Hussain on Thursday said that the improved law and order situation in the country consequent to operation Zarb-e-Azb and Karachi operation, the CPEC project would attract huge investment and lead the country towards progress and economic
Published 22 Jul, 2016 12:00am
Ahsan inaugurates Cloud Data Centre at HEC

Ahsan inaugurates Cloud Data Centre at HEC

Ahsan Iqbal, Federal Minister for Planning, Development and Reform on Thursday inaugurated the Cloud Data Centre at the Higher Education Commission (HEC). The purpose of this Centre is to facilitate universities for becoming part of the world-class resear
Published 22 Jul, 2016 12:00am
Failure in controlling prices: NA panel displeased with DRAP performance

Failure in controlling prices: NA panel displeased with DRAP performance

The National Assembly Standing Committee on National Health Services, Regulations and Co-ordination on Thursday expressed displeasure over working and performance of Drug Regulatory Authority of Pakistan (DRAP) for its failure to control prices of medicin
Published 22 Jul, 2016 12:00am
EFP convenes CEOs' moot on August 2

EFP convenes CEOs' moot on August 2

Employers' Federation of Pakistan is organising a CEOs Moot-2016 on 2nd August 2016 at Hotel Marriott Karachi under the theme of "PAKISTAN NATIONAL BUSINESS AGENDA 2013-18 and Engagement of MNEs and National Companies". The event is intended to provide a
Published 22 Jul, 2016 12:00am
Probe into IoK brutalities: Pakistan to approach UNHRC, OIC

Probe into IoK brutalities: Pakistan to approach UNHRC, OIC

Pakistan will approach United Nations Human Rights Council (UNHRC), on its own as well as on behalf of OIC Contact Group on Kashmir, to investigate the Indian brutalities in occupied Kashmir and impose ban on the use of pellet guns for dispersing people e
Published 22 Jul, 2016 12:00am
BISP to spend Rs one billion on re-survey of 16 districts

BISP to spend Rs one billion on re-survey of 16 districts

Benazir Income Support Programme (BISP) will spend around Rs 1 billion on re-surveying 16 districts and use two different approaches - desk and door to door - to gather reliable data of those eligible for a monthly cash grant and update its National Socio
Published 22 Jul, 2016 12:00am
Pakistani flag hoisted in India's Bihar state

Pakistani flag hoisted in India's Bihar state

A Pakistani flag was found hoisted on roof of a house in Bihar district of India on Thursday morning, the Indian media reported. Around 6 am, the local police got a call that somebody hoisted a Pakistani flag at the top of a residential building in Naland
Published 22 Jul, 2016 12:00am
Pesco's surveillance team nabs 207 pilferers

Pesco's surveillance team nabs 207 pilferers

On the directives of the Chief Executive Pesco, Anwar-Ul-Haq Yousafzai drive against illegal use of electricity is in full swing throughout Khyber Pakhtunkhwa. In this connection, Pesco Wapda House, Peshawar Surveillance Team under the supervision of Dire
Published 22 Jul, 2016 12:00am
China's role in socio-economic development hailed

China's role in socio-economic development hailed

Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has appreciated the Chinese role for the socio economic development of Pakistan which further strengthens the tested relationship between two countries. This was stated by Vice President FPCCI
Published 22 Jul, 2016 12:00am
Chinese firms continue to boost overseas investment in H1

Chinese firms continue to boost overseas investment in H1

Chinese companies continued to boost their overseas investment in the first half (H1) of the year, official data showed on Thursday. The major countries which attracted the investment included Pakistan that takes the benefit of China-Pakistan Economic Cor
Published 22 Jul, 2016 12:00am
KP, Fata: pre-Hajj arrangements reviewed

KP, Fata: pre-Hajj arrangements reviewed

A meeting to review pre-Hajj arrangements was held at Hajj Directorate Hayatabad Peshawar on Thursday. Director Hajj Khyber Pakhtunkhwa, Shakeel Ahmad Sethi presided over the meeting. The Chief Security Officer, Airport Security Force, Bacha Khan Internat
Published 22 Jul, 2016 12:00am
NAB KP arrests three Hajj operators

NAB KP arrests three Hajj operators

National Accountability Bureau (NAB) Khyber Pakhtunkhwa on Thursday arrested Nazar Muhammad, Waqas and Abdullah Jan, owner of Afridi Hajj & Umrah Services Private Ltd Peshawar, who are allegedly involved in cheating scores of Hujjaj and deprived them of a
Published 22 Jul, 2016 12:00am
Medical, dental colleges: KMU to conduct entry test on July 24

Medical, dental colleges: KMU to conduct entry test on July 24

ETEA entry test to be organised by Khyber Medical University (KMU), Peshawar for admission in medical and dental colleges of Khyber Pakhtunkhwa will be held on July 24, at five centres. According to a press release issued from the Directorate of Academics
Published 22 Jul, 2016 12:00am
Passage of anti-honour killing, anti-rape bills likely

Passage of anti-honour killing, anti-rape bills likely

Under pressure from the opposition and rights groups, the government is set to pass an anti-honour killing bill and an anti-rape bill during the joint sitting of parliament in an apparent move to curb the increasing trend of crimes against women. In wake
Published 22 Jul, 2016 12:00am
SC to decide NARC land conversion case on merit

SC to decide NARC land conversion case on merit

Following the failure of the Capital Development Authority (CDA) to adhere to the court directives about withdrawal of a summary requesting the Prime Minister to convert National Agriculture Research Centre's 1,395.2 acres of land into a housing scheme, t
Published 22 Jul, 2016 12:00am
Alleged predatory pricing: CCP issues show-cause notice to JCR-VIS

Alleged predatory pricing: CCP issues show-cause notice to JCR-VIS

The Competition Commission of Pakistan (CCP) has issued a show cause notice to JCR-VIS Credit Rating Company for prima facie predatory pricing in the bidding for rating assignment of Sukuk issue of PKR 100 billion by Neelum Jhelum Hydropower Company (Priv
Published 22 Jul, 2016 12:00am
Alleged predatory pricing: CCP issues show-cause notice to JCR-VIS

Alleged predatory pricing: CCP issues show-cause notice to JCR-VIS

The Competition Commission of Pakistan (CCP) has issued a show cause notice to JCR-VIS Credit Rating Company for prima facie predatory pricing in the bidding for rating assignment of Sukuk issue of PKR 100 billion by Neelum Jhelum Hydropower Company (Priv
Published 22 Jul, 2016 12:00am
PPCBL sanctions Rs 1.63 billion loans for Kharif crops
Cotton

PPCBL sanctions Rs 1.63 billion loans for Kharif crops

Punjab Provincial Co-operative Bank Ltd has so far sanctioned Rs 1.634 billion agriculture loans for sowing, growing and maturing Kharif crops 2016 through 8,996 members of 45,537 co-operative societies in the province. PPCBL spokesman Rana Irshad Ali tol
Published 22 Jul, 2016 12:00am
MD LWMC meets LCCI delegation

MD LWMC meets LCCI delegation

The Lahore Waste Management Company (LWMC) is striving to transform Lahore as one of the cleanest cities in the world by providing customised solutions in the consultation with citizens and private partners to ensure sustainable, safe, clean and green env
Published 22 Jul, 2016 12:00am
'Investor mafia' seeking to increase sugar price by Rs 25 per kg?

'Investor mafia' seeking to increase sugar price by Rs 25 per kg?

An increase in sugar prices right after the holy month of Ramadan has raised eyebrows in sugar market, blaming the investors for hoarding sugar in connivance with selective sugar millers. The market sources said the investors' mafia has built up sugar sto
Published 22 Jul, 2016 12:00am
Safari Zoo Park Officials directed to complete work by September 1

Safari Zoo Park Officials directed to complete work by September 1

Chairman Steering Committee on Wildlife and MNA Muhammad Afzal Khokhar has directed the officers concerned for completing the development work of play land and food court at Safari Zoo Park by September 01, 2016. He warned that delay in development work w
Published 22 Jul, 2016 12:00am
Lahore food outlets sealed

Lahore food outlets sealed

A host of food outlets, including several shops, has been sealed off after being charged with poor working conditions and lacking business licenses. Teams of the Punjab Food Authority claimed to have closed down 16 of these outlets. On Thursday, its Saman
Published 22 Jul, 2016 12:00am
Najam Saeed takes oath as Ombudsman Punjab

Najam Saeed takes oath as Ombudsman Punjab

Governor Punjab Rafique Rajwana administered the oath of office to newly appointed Ombudsman Punjab Najam Saeed in a ceremony at the Governor's house here on Thursday. Chief Secretary Punjab and high officials attended the ceremony. Governor Punjab hoped
Published 22 Jul, 2016 12:00am
MCCI President flays surge in honour killings

MCCI President flays surge in honour killings

Expressing dismay over the increasing incidents of honour killings across Pakistan, Fareed Mughis Sheikh, President of the Multan Chamber of Commerce & Industry (MCCI), said the business community vehemently condemns all honour killings across Pakistan.
Published 22 Jul, 2016 12:00am
Kidnapped woman recovered, 11 suspects held

Kidnapped woman recovered, 11 suspects held

As a result of concerted efforts put forth by Overseas Pakistanis Commission (OPC) Punjab, the kidnapped sister of an expatriate Pakistani living in Spain has been recovered safely. Besides this, as much as 11 accused including eight police officials alon
Published 22 Jul, 2016 12:00am
NDMA warning rasises the alarm about floods: MCCI

NDMA warning rasises the alarm about floods: MCCI

The business community of Multan has voiced serious concerns after the National Disaster Management Authority (NDMA), issued a warning that areas around the River Chenab in Punjab could be affected by flash floods and demanded of the authorities to take i
Published 22 Jul, 2016 12:00am
AJK elections: polling for two assembly seats held in Lahore

AJK elections: polling for two assembly seats held in Lahore

Polling for Legislative Assembly-37, Kashmir Valley-II took place on Thursday amid tight security. Arrangements were made with 10 polling stations for 3,935 Kashmiri voters to use their right to vote for the constituency LA-37 Kashmir Valley-II in Lahore.
Published 22 Jul, 2016 12:00am
Negative interest bites Switzerland's big banks harder in 2016
Currency

Negative interest bites Switzerland's big banks harder in 2016

Switzerland's biggest banks, UBS and Credit Suisse, have paid more to park money with the Swiss National Bank (SNB) this year, data showed on Thursday. Banking statistics published by the SNB for May showed deposits by the two biggest banks which were sub
Published 22 Jul, 2016 12:00am
Euro rises in Europe as Draghi gives no hint of September action

Euro rises in Europe as Draghi gives no hint of September action

The euro rose to hit a day's high against the dollar on Thursday, after European Central Bank chief Mario Draghi said only that the bank would take time to reassess any changes in the economic outlook. The ECB earlier as expected kept interest rates uncha
Published 22 Jul, 2016 12:00am
Dollar climbs against yen in Asia

Dollar climbs against yen in Asia

The dollar climbed to a six-week high against safe-haven yen on Thursday, as news of Japan's plans for an economic stimulus package and growing expectations for the Bank of Japan (BOJ) to ease policy helped support risk sentiment. The yen remained on the
Published 22 Jul, 2016 12:00am
Airline stocks drag down FTSE
Currency

Airline stocks drag down FTSE

Britain's top share index slipped on Thursday after four straight days of gains, with airline stocks falling sharply after industry bellwethers easyJet and Lufthansa warned of slower bookings and a worsening outlook. Shares in easyJet dropped 5.3 percent
Published 22 Jul, 2016 12:00am
Most Southeast Asian stocks lower

Most Southeast Asian stocks lower

Most Southeast Asian stocks closed lower on Thursday as investor risk appetite remained subdued ahead of a crucial policy meeting by the European Central Bank and the release of US jobless claims data later in the day. "The outcome of the ECB meeting, alo
Published 22 Jul, 2016 12:00am
Sri Lankan shares steady

Sri Lankan shares steady

Sri Lankan shares ended little changed on Thursday as gains helped by foreign buying and led by financials were offset by some large-cap consumer staples, while the market awaited directions on the macro economy. The benchmark Colombo stock index ended up
Published 22 Jul, 2016 12:00am
European shares retreat as weaker airlines offset firmer banks

European shares retreat as weaker airlines offset firmer banks

European stocks edged lower on Thursday, as a drop in the shares of major airlines offset gains in some banks, propped up by signals of support for the sector from the European Central Bank. The pan-European STOXX 600 index and similar FTSEurofirst 300 bo
Published 22 Jul, 2016 12:00am
Indian shares post biggest fall in one month

Indian shares post biggest fall in one month

Indian shares fell on Thursday to post their biggest daily percentage loss in four weeks after earnings from HDFC Bank and Kotak Mahindra Bank raised some concerns about bad loans ratios in the sector. HDFC Bank fell 0.3 percent, while Kotak Mahindra Bank
Published 22 Jul, 2016 12:00am
Tokyo stocks surge

Tokyo stocks surge

Tokyo's benchmark index closed at a six-week high Thursday, with exporters boosted by a weak yen after a report said Japan's government is planning stimulus twice as big as initially thought. The package of at least 20 trillion yen is aimed refiring the w
Published 22 Jul, 2016 12:00am
Australian shares test year high, New Zealand at record high

Australian shares test year high, New Zealand at record high

Australian shares climbed to a near one-year high and New Zealand stocks struck a record close on Thursday, amid growing expectations of further monetary easing this year. The S&P/ASX 200 index rose 23.7 points, or 0.4 percent, to close at 5,512.4, its hi
Published 22 Jul, 2016 12:00am
Treasury yields climb in light volume

Treasury yields climb in light volume

US Treasury debt yields rose on Wednesday in thin trading, bolstered by gains in stocks world-wide as well as a growing view that the Federal Reserve could raise interest rates at least once this year despite risk seen from recent geopolitical events. Gai
Published 22 Jul, 2016 12:00am
Treasury yields climb in light volume

Treasury yields climb in light volume

US Treasury debt yields rose on Wednesday in thin trading, bolstered by gains in stocks world-wide as well as a growing view that the Federal Reserve could raise interest rates at least once this year despite risk seen from recent geopolitical events. Gai
Published 22 Jul, 2016 12:00am
Hong Kong shares up

Hong Kong shares up

Hong Kong's benchmark share index closed above 22,000 on Thursday for the first time this year, joining a regional rally that led many Asian bourses higher. The Hang Seng index rose 0.5 percent, to 22,000.49, while the China Enterprises Index gained 0.4 p
Published 22 Jul, 2016 12:00am
Microsoft helps Wall Street to another day of record highs

Microsoft helps Wall Street to another day of record highs

Wall Street gained on Wednesday and the S&P 500 and Dow industrials set fresh records, as Microsoft's strong results boosted the indexes and marked the latest sign that US corporate earnings season may be less dour than feared. Microsoft shares surged 5.3
Published 22 Jul, 2016 12:00am
China stocks soar

China stocks soar

China stocks closed up on Thursday, the first rise this week, as investors returned to the market in search of bargains. Although Hong Kong's Hang Seng Index and the Euro Stoxx have been up 1.7 percent and 0.7 percent respectively over the past week, Chin
Published 22 Jul, 2016 12:00am
Gulf markets fall on oil and earnings
Currency

Gulf markets fall on oil and earnings

Most Gulf stock markets fell on Thursday amid soft oil prices and mixed corporate earnings, while Egypt was hit once again by concern about instability in the country's currency. Dubai's index edged down 0.1 percent. Dubai Parks & Resorts surged 3.8 perce
Published 22 Jul, 2016 12:00am
US warns against devaluation ahead of G20 finance meeting
Currency

US warns against devaluation ahead of G20 finance meeting

US Treasury Secretary Jacob Lew on Thursday said top economies should refrain from competitive currency devaluations - a message likely directed at China, which hosts a G20 finance ministers meeting this weekend. "The global outlook... underscores our foc
Published 22 Jul, 2016 12:00am
US warns against devaluation ahead of G20 finance meeting
Currency

US warns against devaluation ahead of G20 finance meeting

US Treasury Secretary Jacob Lew on Thursday said top economies should refrain from competitive currency devaluations - a message likely directed at China, which hosts a G20 finance ministers meeting this weekend. "The global outlook... underscores our foc
Published 22 Jul, 2016 12:00am
Big Mac latest casualty of Venezuela shortages

Big Mac latest casualty of Venezuela shortages

McDonald's said Thursday it has stopped selling Big Macs in Venezuela, making the US chain's iconic hamburger the latest casualty of severe food shortages triggered by an economic crisis. "At McDonald's Venezuela we are working to resolve this temporary s
Published 22 Jul, 2016 12:00am
China to expand railway network to 150,000 km by 2020

China to expand railway network to 150,000 km by 2020

China will expand its railway network to 150,000 km (93,200 miles) by 2020, including 30,000 km of high-speed rail, the country's top economic planner said on Wednesday. The plan will mean a 24 percent increase in the length of China's railway network fro
Published 22 Jul, 2016 12:00am
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