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May 15, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-09-13
Tokyo shares slump
Currency

Tokyo shares slump

Tokyo shares slumped Monday, extending a global sell-off after top Federal Reserve officials said they backed a US interest rate hike as soon as this month. Speculation that the Fed might act as soon as this month had appeared to be off the table followin
Published 13 Sep, 2016 12:00am
SCCI chief for setting up Special Economic Zone

SCCI chief for setting up Special Economic Zone

President Sialkot Chamber of Commerce and Industry (SCCI) Mansoor Ahmed has urged upon the government to take appropriate steps for Setting up Special Economic Zone in Sialkot to enhance the export volume.
Published 13 Sep, 2016 12:00am
SME team to attend trade fair 'Macfrut 2016' in Italy

SME team to attend trade fair 'Macfrut 2016' in Italy

A Pakistani delegation representing small and medium enterprises (SMEs) will attend a trade fair "Macfrut 2016" in Italy, to explore trade, investment and technology transfer opportunities in agro sector besides developing B2B linkages.
Published 13 Sep, 2016 12:00am
Murree with a curry: alcohol booms

Murree with a curry: alcohol booms

At Murree Brewery, home of country's national lager, vintage copper boilers belch odorous fumes as they churn out 10 million litres of beer each year. Hundreds of tons of gin and whisky are stored in climate-conditioned cellars, shielded from the pummelli
Published 13 Sep, 2016 12:00am
Libya unity government loses third oil port to rivals

Libya unity government loses third oil port to rivals

Libya's UN-backed unity government lost control Monday of a third oil port seized by rival forces, raising fears of a major outbreak of fresh violence in the chaos-ridden country.
Published 13 Sep, 2016 12:00am
Germany, Russia in spat over Bulgaria UN chief candidate

Germany, Russia in spat over Bulgaria UN chief candidate

Berlin accused Moscow on Monday of falsely claiming Chancellor Angela Merkel had tried to pressure Bulgaria to select a new candidate to succeed UN chief Ban Ki-moon. German foreign ministry spokesman Martin Schaefer said a Russian official representative
Published 13 Sep, 2016 12:00am
Saudi shoots down missile from Yemen

Saudi shoots down missile from Yemen

The Saudi-led coalition battling rebels in Yemen said Monday it shot down a missile fired by the insurgents towards an airbase in southern Saudi Arabia. The missile was the latest aimed at the kingdom since the coalition began air raids to support Yemen's
Published 13 Sep, 2016 12:00am
One year after Corbyn win, Britain's Labour hits poll nadir

One year after Corbyn win, Britain's Labour hits poll nadir

One year after his election, Jeremy Corbyn is leading the most unpopular opposition Labour party in British history, according to an analysis of polls published Monday. Labour is currently trailing the ruling Conservatives by an average of 11 points, acco
Published 13 Sep, 2016 12:00am
Protests over water supplies hit India's tech hub

Protests over water supplies hit India's tech hub

Violent protests have broken out in the southern technology hub of Bangalore over a Supreme Court order to divert water from reservoirs to a neighbouring state. The protests have forced shops, businesses and schools to close in Bangalore, capital of Karna
Published 13 Sep, 2016 12:00am
Swedish trains to slow as rail network ages

Swedish trains to slow as rail network ages

Sweden will cut the top speed for trains on dozens of railway lines because an ageing network has made fast travel unsafe, the country's rail operator said Monday. Maintenance authority Trafikverket has warned that Swedish rail cables, tracks, signals and
Published 13 Sep, 2016 12:00am
Afghanistan close to peace deal with notorious warlord

Afghanistan close to peace deal with notorious warlord

Afghanistan is close to signing a peace agreement with Gulbuddin Hekmatyar, President Ashraf Ghani said Monday, in a landmark accord that could pave the way for the notorious warlord's political return after years in hiding. Hekmatyar, who heads the now l
Published 13 Sep, 2016 12:00am
Duterte orders US advisers out of southern Philippines

Duterte orders US advisers out of southern Philippines

President Rodrigo Duterte ratcheted up his feud with the United States on Monday, ordering all American special forces out of the southern Philippines where they have been advising local troops battling Muslim extremists.
Published 13 Sep, 2016 12:00am
Aussie, kiwi trampled in rush from risk

Aussie, kiwi trampled in rush from risk

The Australian dollar steadied on Monday after surrendering to its US counterpart in the previous session as investors priced in more risk of a near-term interest rate hike by the Federal Reserve. The Australian dollar is resting around a key chart suppor
Published 13 Sep, 2016 12:00am
Ghana to issue first 10-year local currency bond next month
Currency

Ghana to issue first 10-year local currency bond next month

Ghana plans to sell its first 10-year local currency bond next month, issuing 200 million cedis ($50.42 million) of debt as part of an effort to borrow over longer periods at lower interest rates, Finance Minister Seth Terkper said on Tuesday.
Published 13 Sep, 2016 12:00am
Ghana to issue first 10-year local currency bond next month
Currency

Ghana to issue first 10-year local currency bond next month

Ghana plans to sell its first 10-year local currency bond next month, issuing 200 million cedis ($50.42 million) of debt as part of an effort to borrow over longer periods at lower interest rates, Finance Minister Seth Terkper said on Tuesday.
Published 13 Sep, 2016 12:00am
Canadian dollar weakens to 11-day low as risk aversion rises
Currency

Canadian dollar weakens to 11-day low as risk aversion rises

The Canadian dollar weakened to an 11-day low against its US counterpart on Monday as rising risk aversion and lower oil prices weighed on the risk-sensitive commodity-linked currency. European stocks and bonds fell in a volatile market, hit by growing co
Published 13 Sep, 2016 12:00am
Hickey vows to fight ticket-touting charges

Hickey vows to fight ticket-touting charges

Ireland's veteran Olympics chief insisted Monday he was "completely innocent" of all charges related to an alleged ticket scam at the Rio Olympics. Pat Hickey, the president of the Olympic Council of Ireland, was arrested in his hotel room on August 17 an
Published 13 Sep, 2016 12:00am
Manchester United earn more than £500m in a year

Manchester United earn more than £500m in a year

Manchester United became the first British football club to earn more than half a billion pounds in a single year after announcing Monday total revenue of £515.3 million ($683.5 million, 608.9 million euros) for the year ending June 30, 2016.
Published 13 Sep, 2016 12:00am
Verratti tells Balotelli to get serious

Verratti tells Balotelli to get serious

Paris Saint Germain's Italian midfielder Marco Verratti has challenged troubled Ligue 1 new boy Mario Balotelli to concentrate on his football all week long and not just on matchdays. The former AC Milan, Manchester City and Liverpool striker scored twice
Published 13 Sep, 2016 12:00am
Johnson wins US PGA BMW Championship in record fashion

Johnson wins US PGA BMW Championship in record fashion

World number two Dustin Johnson fired a five-under par 67 Sunday to win the US PGA's BMW Championship by three strokes over England's Paul Casey with a tournament scoring record. The 32-year-old American, who captured his first major title at the US Open
Published 13 Sep, 2016 12:00am
India retain struggling Sharma for Kiwi Tests

India retain struggling Sharma for Kiwi Tests

India have kept faith with Rohit Sharma, on Monday naming the out-of-form middle-order batsman in a 15-man squad for the home Test series against New Zealand beginning later this month. The 29-year-old Mumbai batsman last scored a Test century nearly thre
Published 13 Sep, 2016 12:00am
Charsadda win Dr Shoukat Challenge Football Cup

Charsadda win Dr Shoukat Challenge Football Cup

Spirited Charsadda stunned star-studded Chitral on a penalty shoot-out final of the Dr Shoukat Challenge Football Cup played here at Tehmas Khan Football Complex on Monday.
Published 13 Sep, 2016 12:00am
Amir relieved on clearing tough England tour

Amir relieved on clearing tough England tour

Pakistan fast bowler Mohammad Amir breathed a sigh of relief Monday after clearing a "tough England cricket tour" without any major problems, saying fans were welcoming and players were supportive. It was a complete contrast from his tour of England six y
Published 13 Sep, 2016 12:00am
Morgan still has England future, says Gooch

Morgan still has England future, says Gooch

Former England captain Graham Gooch believes Eoin Morgan can still play international cricket again following his withdrawal from the team's upcoming tour of Bangladesh on security grounds. The England and Wales Cricket Board (ECB) announced Sunday that o
Published 13 Sep, 2016 12:00am
Pellegrini slumps to debut defeat in China

Pellegrini slumps to debut defeat in China

Ex-Manchester City boss Manuel Pellegrini endured a baptism of fire as his new club Hebei China Fortune slumped 3-0 to Guangzhou Evergrande in the Chinese Super League. As Pep Guardiola steered City to a famous 2-1 derby win over Manchester United, Pelleg
Published 13 Sep, 2016 12:00am
China's Shuai survives Tokyo scare

China's Shuai survives Tokyo scare

China's Shuai Zhang was given a fright by local wildcard Eri Hozumi before escaping with a 7-6, 1-6, 6-3 win at the Japan Women's Open on Monday. The sixth seed, who reached the third round of the US Open earlier this month, survived a real scare in her T
Published 13 Sep, 2016 12:00am
Mugabe statue mocked, but president happy

Mugabe statue mocked, but president happy

A Zimbabwean sculptor defended himself on Monday after his official statue of President Robert Mugabe was widely criticised as a caricature. Dominic Benhura was pictured in the state-run Herald newspaper standing next to the president and first lady Grace
Published 13 Sep, 2016 12:00am
North Korea ready to conduct another nuclear test: Seoul

North Korea ready to conduct another nuclear test: Seoul

North Korea is ready to conduct another nuclear test at any time, South Korea's defence ministry said Monday, just days after Pyongyang sparked world-wide condemnation with its fifth and most powerful test. The North has said the test has realised its goa
Published 13 Sep, 2016 12:00am
North Korea flood death toll rises to 133 with 395 missing: UN

North Korea flood death toll rises to 133 with 395 missing: UN

Severe flooding in a North Korean border region has killed at least 133 people with another 395 missing and thousands of homes swept away, the UN says, after Pyongyang reported "great hardship" in the area. Some 107,000 people have been forced to flee the
Published 13 Sep, 2016 12:00am
American arrested in Nepal on child sex allegations

American arrested in Nepal on child sex allegations

Police in Nepal said Monday they have arrested a US national on suspicion of sexually abusing young boys. Police acting on a tip-off from an alleged victim arrested the 48-year-old man on Sunday in a hotel room in Kathmandu, where he was holed up with thr
Published 13 Sep, 2016 12:00am
Greece must improve shelter for migrant children: EU

Greece must improve shelter for migrant children: EU

Greece must find shelter for 1,500 unaccompanied migrant children, many of whom are held in squalid conditions according to rights groups, a top EU official said Monday. "We still need to create 1,500 places for unaccompanied minors, this is a matter of u
Published 13 Sep, 2016 12:00am
Car bomb attack on Turkey ruling party wounds 48

Car bomb attack on Turkey ruling party wounds 48

A car bomb exploded Monday outside the ruling Justice and Development Party (AKP) headquarters in the eastern Turkish city of Van, wounding 48 people including two police officers, local authorities said.
Published 13 Sep, 2016 12:00am
Austrian presidential election comes unstuck

Austrian presidential election comes unstuck

Austria's government was forced Monday to announce an embarrassing postponement of its October 2 presidential election because of glue failing to stick on postal votes.
Published 13 Sep, 2016 12:00am
Clinton, diagnosed with pneumonia, scraps California trip

Clinton, diagnosed with pneumonia, scraps California trip

Democrat Hillary Clinton faced questions about her health Monday after being diagnosed with pneumonia and falling ill at a 9/11 ceremony, renewing speculation about her fitness barely eight weeks from Election Day.
Published 13 Sep, 2016 12:00am
FTSE poised for biggest drop since June

FTSE poised for biggest drop since June

UK shares fell at the open, set for their biggest drop since June 27 as stocks and bonds were sold off across the world on nervousness about central bank policies. Equities dropped as bond yields rose in the US and Asia on the back of a possible September
Published 13 Sep, 2016 12:00am
Australia and New Zealand shares slump

Australia and New Zealand shares slump

Australian shares tumbled on Monday, dragged down by financials and materials, as investors were rattled by talk the Federal Reserve might hike US interest rates next week. The S&P/ASX 200 index finished down 119.58 points, or 2.2 percent, at 5,219.6, its
Published 13 Sep, 2016 12:00am
European shares fall, poised for biggest loss since June

European shares fall, poised for biggest loss since June

European shares sank in early deals on Monday, tracking falls in Asia and on course for their biggest drop in nearly three months as investors took bets on a possible near-term rate hike in the United States. Stocks and bonds had sold off in Asia, with ma
Published 13 Sep, 2016 12:00am
Indian shares fall

Indian shares fall

Indian shares fell nearly 2 percent on Monday, posting their biggest intraday percentage drop since June 24, in a global selloff on renewed talks that the US Federal Reserve might be serious about raising interest rates as early as next week.
Published 13 Sep, 2016 12:00am
SE Asian stocks fall

SE Asian stocks fall

Thailand and Vietnam shares dived in line with broader Asian markets on Monday, as investors were put off by rising bond yields and talks of a rate hike by the US Federal Reserve as early as next week.
Published 13 Sep, 2016 12:00am
Hong Kong stocks post biggest one-day drop

Hong Kong stocks post biggest one-day drop

Hong Kong's benchmark stock index fell more than 3 percent on Monday as a global selloff in financial markets intensified amid growing concerns that policymakers were reaching their policy limits in boosting weak growth. The Hang Seng index dropped 3.4 pe
Published 13 Sep, 2016 12:00am
China blue chip index tumbles the most in three months
Currency

China blue chip index tumbles the most in three months

China's blue chip stocks tumbled the most in three months on Monday, tracking a sharp retreat in global markets as investors were spooked by talk of a possible US rate hike next week, sending bond yields up and pressuring the Chinese currency.
Published 13 Sep, 2016 12:00am
Gold drifts lower in European trade

Gold drifts lower in European trade

Gold fell on Monday as pressure from speculation over a potential increase in US interest rates this month offset the metal's safe-haven appeal amid widespread weakness across other assets. Spot gold was down almost 0.3 percent at $1,324.15 an ounce by 14
Published 13 Sep, 2016 12:00am
Death condoled

Death condoled

Chief Minister Punjab Muhammad Shahbaz Sharif here on Monday condoled the death of brother of Attorney General of Pakistan Ashtar Ausaf. Chief Minister went to his residence in Defence and offered Fateha for the departed soul and sympathised with the bere
Published 13 Sep, 2016 12:00am
CM Sindh to offer Namaz-e-Eid at Garhi Khuda Bux

CM Sindh to offer Namaz-e-Eid at Garhi Khuda Bux

Sindh Chief Minister, Syed Murad Ali Shah alongwith members of Sindh cabinet will offer Eid-ul-Azha prayers at Garhi Khuda Bux Bhutto, Larkana today. The Chief Minister will also visit the mazar of Chairperson PPP Shaheed Mohtarma Benazir Bhutto to offer
Published 13 Sep, 2016 12:00am
Amjad Sabri's murder case: two key suspects arrested

Amjad Sabri's murder case: two key suspects arrested

Two key 'suspects' in Amjad Sabri murder case were arrested from Karachi on Monday. According to police sources, two boys named Mani and Sani were taken into custody from Five Star Chowrangi. They are said to be neighbours of Sabri and reportedly have han
Published 13 Sep, 2016 12:00am
Collection of hides on Eid: Sindh government bans posters

Collection of hides on Eid: Sindh government bans posters

The Sindh government has formulated a code of conduct for collection of animal hides on Eid-ul-Azha. Before going out to collect hides organisations will need permission from the Commissioner or Deputy Commissioner. No one will be allowed to hold camps, m
Published 13 Sep, 2016 12:00am
Supreme Court issues cause lists for Lahore registry

Supreme Court issues cause lists for Lahore registry

The Supreme Court has issued its cause lists for Lahore registry for the week after Eid-ul-Azha holidays. The bench No 1 comprising Justice Mian Saqib Nisar and Justice Manzoor Ahmad Malik would hear suo motu case about child-abduction cases on September
Published 13 Sep, 2016 12:00am
MCC established to ensure cleanliness in Punjab

MCC established to ensure cleanliness in Punjab

The Punjab government has set up a Monitoring & Co-ordination Cell (MCC) to ensure cleanliness throughout the province and immediate removal of offal and intestines of sacrificial aniimals in a co-ordinated manner. This cell will monitor the progress of a
Published 13 Sep, 2016 12:00am
Ceremony to commemorate Major Aziz Bhatti's services held

Ceremony to commemorate Major Aziz Bhatti's services held

A wreath laying ceremony to commemorate the day of martyrdom of Maj Raja Aziz Bhatti, Nishan-e-Haider was held on Monday at his grave in his hometown Ladian. Garrison Commander Kharian Major General Nadir Khan laid a wreath on behalf of Chief of Army Staf
Published 13 Sep, 2016 12:00am
Farooq Sattar received no major injury: LMH spokesman

Farooq Sattar received no major injury: LMH spokesman

Muttahida Qaumi Movement (MQM) leader Farooq Sattar on Monday evening confirmed that he had received no fractures or suffered any internal bleeding following his car accident on Sunday night. Sattar was injured Sunday night after his car crashed near the
Published 13 Sep, 2016 12:00am
'All indicators moving in the right direction'

'All indicators moving in the right direction'

Apropos a news item carried by this newspaper on its front page on Sunday, it is indeed a matter of grave concern for the export-oriented sectors of the country that the cost of doing business in Pakistan is 10 percent higher than what is in the region. A
Published 13 Sep, 2016 12:00am
Hungry for power, Myanmar bets on hydro in new energy plan

Hungry for power, Myanmar bets on hydro in new energy plan

Electricity-starved Myanmar is looking to overhaul its long-term power strategy, aiming to hike the planned share of hydropower in its energy mix at the cost of polluting coal as it tries to attract foreign investment.
Published 13 Sep, 2016 12:00am
Time for action

Time for action

The rumours about suspect causes of destruction of the records of the Metro Rail and Nandipur projects, and disappearance of taxpayers' records from FBR's office in Faisalabad, will further strengthen doubts about the government's already endangered integ
Published 13 Sep, 2016 12:00am
Giving new life to SDR
Currency

Giving new life to SDR

The International Monetary Fund (IMF) has been striving to expand the use of Special Drawing Rights (SDRs) in the global monetary system for a long time but its efforts have yielded only a limited degree of success as its use has generally been confined t
Published 13 Sep, 2016 12:00am
Barking up the wrong tree

Barking up the wrong tree

Prime Minister Nawaz Sharif is reported to have noted that the Board of Investment (BoI) has failed to facilitate foreign investment which had been showing a downward trend since the assumption of power by the present PML (N) government. He also observed
Published 13 Sep, 2016 12:00am
Shanghai copper slips

Shanghai copper slips

Shanghai Futures Exchange copper slid 1.2 percent to 36,170 yuan ($5,416) on Monday while ShFe zinc and lead fell more than 2 percent and nickel more than 3 percent. ShFE tin fell 3.9 pct after China's stocks more than doubled in the latest week.
Published 13 Sep, 2016 12:00am
Aluminium touches three-month low on rate hike worries, copper up

Aluminium touches three-month low on rate hike worries, copper up

Aluminium fell to its lowest in three months on Monday and other industrial metals also dropped as speculation about a US rate hike this month prompted investors to shed risky assets. Copper slipped to its lowest level in more than two months while nickel
Published 13 Sep, 2016 12:00am
China strategic oil buying slowed in 2016

China strategic oil buying slowed in 2016

China's strategic crude oil stockpiling slowed in the first half of 2016 because of delays in facility construction and as existing sites were filled, resulting in more imports flowing to the country's independent refineries, analysts said.
Published 13 Sep, 2016 12:00am
Oil up on dollar, US equities; crude inventories eyed

Oil up on dollar, US equities; crude inventories eyed

Oil prices rose on Monday as a softer dollar and stronger US equity markets helped crude futures rebound from an earlier drop pressured by worries about increased drilling activity for oil in the United States.
Published 13 Sep, 2016 12:00am
Rubber tumbles

Rubber tumbles

Benchmark Tokyo rubber futures tumbled nearly 4 percent on Monday, giving up gains from earlier this month and hitting a 1-1/2 week low, as a slump in global shares and weaker oil prices dampened investors' risk appetite. "A flurry of selling kicked in am
Published 13 Sep, 2016 12:00am
Lack of Ukraine rain threatens winter grain sowing

Lack of Ukraine rain threatens winter grain sowing

Dry soil could hit the sowing of winter grain in Ukraine, analyst UkrAgroConsult said on Monday. Winter wheat accounts for 95 percent of Ukraine's overall wheat output, and the winter crop is also a significant part of the barley harvest.
Published 13 Sep, 2016 12:00am
Gold little changed in Asia

Gold little changed in Asia

Gold was little changed on Monday as a sell-off in equities increased the safe-haven appeal of the yellow metal, with expectations of a rate hike this month by the US Federal Reserve keeping gains in check. Spot gold held steady at $1,329.60 an ounce at 0
Published 13 Sep, 2016 12:00am
China plans to auction sugar from state stockpiles
Cotton

China plans to auction sugar from state stockpiles

China could be preparing to auction sugar from its huge state stockpiles for the first time in five years following sales of millions of tonnes of corn and cotton over the summer, analysts and traders said.
Published 13 Sep, 2016 12:00am
Bund yields hit highest level since Brexit result

Bund yields hit highest level since Brexit result

Germany's benchmark 10-year Bund yield climbed further into positive territory on Monday, hitting its highest level since June's Brexit result as a shake-out in world bond markets made itself felt across the region.
Published 13 Sep, 2016 12:00am
Bund yields hit highest level since Brexit result

Bund yields hit highest level since Brexit result

Germany's benchmark 10-year Bund yield climbed further into positive territory on Monday, hitting its highest level since June's Brexit result as a shake-out in world bond markets made itself felt across the region.
Published 13 Sep, 2016 12:00am
Eurozone banks to set their own targets for cutting bad debt: ECB

Eurozone banks to set their own targets for cutting bad debt: ECB

Eurozone banks will get to set their own targets for cutting the 900 billion euros of bad loans left over from the financial crisis, and only sizable shortfalls will be sanctioned, new guidance by the European Central Bank showed on Monday.
Published 13 Sep, 2016 12:00am
India disputes US renewables support at WTO

India disputes US renewables support at WTO

India has launched a complaint before the World Trade Organisation against the United States over alleged subsidies provided to renewable energy projects, a source close to the WTO said Monday.
Published 13 Sep, 2016 12:00am
Hundreds in Shanghai demand action on alleged Ponzi scheme

Hundreds in Shanghai demand action on alleged Ponzi scheme

Hundreds of protestors gathered in Shanghai Monday demanding that the government investigate an investment company that has failed to pay them since last year. Police tried to clear the crowd from in front of the Shanghai city hall, where around a dozen p
Published 13 Sep, 2016 12:00am
Surprise gain in Japan core machinery orders points to capex pickup

Surprise gain in Japan core machinery orders points to capex pickup

Japan's core machinery orders unexpectedly rose for a second straight month in July, easing some pessimism over capital expenditure, but worries remain that weak demand and the yen's gains may still discourage companies from boosting investment.
Published 13 Sep, 2016 12:00am
China's cargo carriers crumble in courier cavalry contest

China's cargo carriers crumble in courier cavalry contest

When Li Ming left the Chinese countryside and moved to the city to look for work more than 30 years ago, gruelling manual jobs were plentiful. Three decades later, the 56-year-old is still hauling goods up and down the steep hills of Chongqing as one of t
Published 13 Sep, 2016 12:00am
Agrium, Potash say to merge into $36 billion crop fertilizer giant

Agrium, Potash say to merge into $36 billion crop fertilizer giant

Canadian-based rivals Agrium Inc and Potash Corp said on Monday they had agreed to merge to create a $36-billion global crop fertilizer behemoth. The new company will combine potash, nitrogen and phosphate production with a global distribution network, em
Published 13 Sep, 2016 12:00am
Juncker launches probe into Barroso Goldman Sachs job

Juncker launches probe into Barroso Goldman Sachs job

European Commission President Jean-Claude Juncker has opened a probe into whether his predecessor Jose Manuel Barroso breached EU ethics guidelines by joining US investment bank Goldman Sachs. In a letter to the European Union's official watchdog, Juncker
Published 13 Sep, 2016 12:00am
Highest bridge nears completion in China

Highest bridge nears completion in China

Chinese engineers have completed the structure of what is expected to become the world's highest bridge, local authorities said. The Beipanjiang Bridge, in mountainous south-western China, soars 565 metres (1,854 feet) above a river, the Guizhou provincia
Published 13 Sep, 2016 12:00am
Chinese policymakers square off as economic challenges grow

Chinese policymakers square off as economic challenges grow

Strong comments from China's top state planner that the economy needed more support was most likely aimed at persuading the central bank to take bolder policy action. For now though, the People's Bank of China (PBOC) is unlikely to be swayed, worried chea
Published 13 Sep, 2016 12:00am
Gas groups Linde, Praxair halt merger plans

Gas groups Linde, Praxair halt merger plans

German industrial gas supplier Linde and US competitor Praxair said Monday they had abandoned plans for a merger that would have created the world's biggest firm in the sector.
Published 13 Sep, 2016 12:00am
US Midwest corn, and soya bids mostly steady

US Midwest corn, and soya bids mostly steady

Cash basis bids on Friday for corn and soyabeans were mostly steady as farmers withheld product as they monitored modest futures advances for both grains ahead of Monday's monthly government crop reports, dealers said.
Published 13 Sep, 2016 12:00am
Firm gasoline, naphtha cracks lift Singapore's refinery margins

Firm gasoline, naphtha cracks lift Singapore's refinery margins

Singapore's gasoline and naphtha refinery margins rose this week to multi-month highs, supported by refinery maintenance and strong demand, helping overall refinery margins in Singapore to outperform those in Europe and North America. Refinery margins, kn
Published 13 Sep, 2016 12:00am
AB Food plans to sell sugar cane business in China

AB Food plans to sell sugar cane business in China

Associated British Foods (ABF) plans to sell its cane sugar business in China to a consortium led by Nanning Sugar Industry Co Ltd, in a partial exit from the world's No 2 sugar market after more than 20 years.
Published 13 Sep, 2016 12:00am
China hits 60 percent of 2016 target for coal output cuts

China hits 60 percent of 2016 target for coal output cuts

China has reduced its coal production capacity by 150 million tonnes in the first eight months of the year, representing 60 percent of its 2016 target for capacity cuts, state media said on Friday citing the state planner.
Published 13 Sep, 2016 12:00am
Freight rates for VLCC to slip to multi-year lows

Freight rates for VLCC to slip to multi-year lows

Freight rates for very large crude carriers (VLCCs), which are at or close to multi-year lows, could slip next week as too much tonnage outweighs a dearth of cargo, ship brokers said on Friday. "Ship owners are really trying to force rates up, but charter
Published 13 Sep, 2016 12:00am
Platinum to bottom out in 2016, but palladium outlook cut

Platinum to bottom out in 2016, but palladium outlook cut

Banks have raised their platinum price forecasts over the last quarter, a Reuters poll showed on Monday, as miners in major producer South Africa gear up for wage talks and the prospect of further monetary stimulus allays fears over slowing growth.
Published 13 Sep, 2016 12:00am
Soros Fund Management slashes gold stake

Soros Fund Management slashes gold stake

Soros Fund Management LLC sharply cut its shares in gold in the second quarter, when bullion prices rose to two-year highs, regulatory filings with the US Securities and Exchange Commission showed on Monday. The fund, which returned to the world's biggest
Published 13 Sep, 2016 12:00am
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