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Sep 20, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-11-18
State Bank of Pakistan conversion rates
Currency

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 18 Nov, 2016 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 18 Nov, 2016 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 18 Nov, 2016 12:00am
Daily trading report of PMEX
Cotton

Daily trading report of PMEX

On Wednesday at Pakistan Mercantile Exchange Limited, P.M.E.X Commodity Index closed at 2,975. The total traded value of Metals, Energy and COTS/FX was recorded at PKR 5.24 billion and the number of lots traded was 11,294. Major business was contributed b
Published 18 Nov, 2016 12:00am
Activity at Karachi & Qasim ports

Activity at Karachi & Qasim ports

The Karachi Port handled 205,402 tonnes of cargo comprising 171,204 tonnes of import cargo and 34,198 tonnes of export cargo including NA loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargo of 171,
Published 18 Nov, 2016 12:00am
Prices gain momentum on strong demand
Cotton

Prices gain momentum on strong demand

Prices gained momentum on the cotton market on Thursday amid strong demand of quality, dealers said. The official spot rate was higher by Rs 100 to Rs 6100, dealers said. In Sindh, seed cotton prices were unchanged at Rs 2200-3150, they said, however, in
Published 18 Nov, 2016 12:00am
Chinese soyabean futures fall five percent

Chinese soyabean futures fall five percent

Chinese soyabean futures tumbled 5 percent on Monday, extending a decline that started in evening trade on Friday on talk of government measures to crack down on speculation, said analysts. The most active contract on the Dalian commodity exchange closed
Published 18 Nov, 2016 12:00am
Robust rise in prices for higher quality cotton
Currency

Robust rise in prices for higher quality cotton

Domestic cotton prices from both Sindh and Punjab registered higher prices on Thursday in view of the relative shortage of higher grade of lint. Thus, ginned cotton prices reportedly rose by Rs 150 to Rs 200 per maund (37.32 Kgs). Consequently, the Karach
Published 18 Nov, 2016 12:00am
Robust rise in prices for higher quality cotton
Currency

Robust rise in prices for higher quality cotton

Domestic cotton prices from both Sindh and Punjab registered higher prices on Thursday in view of the relative shortage of higher grade of lint. Thus, ginned cotton prices reportedly rose by Rs 150 to Rs 200 per maund (37.32 Kgs). Consequently, the Karach
Published 18 Nov, 2016 12:00am
Singapore's exports slump, Trump raise recession risks

Singapore's exports slump, Trump raise recession risks

Singapore's exports in October contracted sharply as sales to major markets fell, raising the risk of a recession in the trade-dependent economy amid heightened uncertainty around global trade in the wake of Donald Trump's US election victory.
Published 18 Nov, 2016 12:00am
De Kooning painting sold for record $66.3 million

De Kooning painting sold for record $66.3 million

Willem de Kooning's "Untitled XXV" was sold late Tuesday at Christie's in New York for $66.3 million, a record for a work by the abstract artist and for post-war contemporary art. The imposing work, which measures 7 by 6.5 feet (2 x 2.2 meters), was paint
Published 18 Nov, 2016 12:00am
Ireland's house prices rise again, further inflation seen

Ireland's house prices rise again, further inflation seen

Irish property prices rose in every region of the country in September, climbing an average 7.3 percent from the same month a year before, and analysts said lack of supply would continue to drive the market higher. September's annual rise was the biggest
Published 18 Nov, 2016 12:00am
China calls for new private bank to rejuvenate northeast

China calls for new private bank to rejuvenate northeast

China has called for a private bank to be established in the country's struggling northeast as part of a new plan published on Wednesday to support economic growth in the region. The government will also strengthen policy propaganda and beef up the way it
Published 18 Nov, 2016 12:00am
Vietnam Prime Minister backs off from US-led TPP

Vietnam Prime Minister backs off from US-led TPP

Vietnam will shelve ratification of a US-led Pacific trade accord due to political changes ahead in the United States, but wants to maintain good relations with Washington as much as it does all other countries, its prime minister said on Thursday. Vietna
Published 18 Nov, 2016 12:00am
Chinese candy copycat sours French sweetmakers

Chinese candy copycat sours French sweetmakers

They are one of southern France's favourite treats. But the traditional almond calisson sweets from Aix-en-Provence may be about to get an unwanted Chinese makeover. To the horror of French candy connoisseurs, a businessman in the eastern province of Zhej
Published 18 Nov, 2016 12:00am
AOL to cut 500 jobs, mostly in corporate units

AOL to cut 500 jobs, mostly in corporate units

Verizon Communications Inc's AOL digital media unit will lay off 5 percent of its workforce, or about 500 people, to consolidate operations after recent acquisitions, a person familiar with the situation said on Thursday. Most of the cuts will be in corpo
Published 18 Nov, 2016 12:00am
AOL to cut 500 jobs, mostly in corporate units

AOL to cut 500 jobs, mostly in corporate units

Verizon Communications Inc's AOL digital media unit will lay off 5 percent of its workforce, or about 500 people, to consolidate operations after recent acquisitions, a person familiar with the situation said on Thursday. Most of the cuts will be in corpo
Published 18 Nov, 2016 12:00am
Wells Fargo says account openings slow in October

Wells Fargo says account openings slow in October

Wells Fargo & Co's account openings slowed in October, following a sales scandal that shattered the bank's folksy image, triggered federal and state investigations and cost the bank's chief executive his job. October consumer account opens fell 27 percent
Published 18 Nov, 2016 12:00am
Philippines' robust Q3 growth beats expectations

Philippines' robust Q3 growth beats expectations

The Philippine economy grew at its fastest pace in more than three years in July-September, most of President Rodrigo Duterte's first 100 days in office, setting him up to meet the ambitious target he set for the year. Duterte's government was quick to ta
Published 18 Nov, 2016 12:00am
Asia-Pacific leaders talk trade in a Trump world

Asia-Pacific leaders talk trade in a Trump world

Top world leaders meet from Thursday to try to save their cherished free trade accords from feared extinction under US President-elect Donald Trump. Here are three big factors looming over the Asia-Pacific Economic Cooperation (Apec) summit from Thursday
Published 18 Nov, 2016 12:00am
Top banks' 9-month commodities revenue down 22 percent

Top banks' 9-month commodities revenue down 22 percent

Commodities-related revenue at the 12 biggest investment banks fell 22 percent in the first nine months due to weak industrial metals trading and lacklustre investor interest, a report by financial industry analytics firm Coalition said. Revenue from comm
Published 18 Nov, 2016 12:00am
India eases cash rules for weddings

India eases cash rules for weddings

India announced new measures Thursday to allow farmers and marrying couples to withdraw more money from banks, as frustration mounted over a cash crisis triggered by the withdrawal of all high-value notes. The shock move last week, which saw 85 percent of
Published 18 Nov, 2016 12:00am
Australia jobless holds at three-year low

Australia jobless holds at three-year low

Australia's jobless rate held at a three-year trough of 5.6 percent in October but employment rebounded only modestly from a sharp fall the previous month, a mixed report that did little to alter the outlook for steady interest rates. Thursday's data from
Published 18 Nov, 2016 12:00am
British retail sales surge

British retail sales surge

Retail sales in Britain rebounded sharply last month on strong clothing demand, official data showed Thursday, as shoppers brushed off Brexit jitters. Sales by volume jumped by 1.9 percent in October compared with September, the Office for National Statis
Published 18 Nov, 2016 12:00am
Former Valeant executive arrested in US fraud probe

Former Valeant executive arrested in US fraud probe

A former executive at the Canadian pharmaceutical company Valeant was arrested Thursday in connection with a probe of fraud allegations, according to federal prosecutors in New York. Former executive Gary Tanner was arrested in Pennsylvania while Andy Dav
Published 18 Nov, 2016 12:00am
Brazil recession worsens in Q3

Brazil recession worsens in Q3

Brazil's recession deepened in the third quarter, central bank data showed on Thursday, adding to pessimism that there would be no quick end to country's two-year-long downturn. Economic activity in Brazil fell 0.78 percent in the third quarter from the p
Published 18 Nov, 2016 12:00am
Falling food prices, warm weather hurt Wal-Mart sales
Currency

Falling food prices, warm weather hurt Wal-Mart sales

Wal-Mart Stores Inc on Thursday reported lower-than-expected quarterly sales at established US stores, citing declining food prices and warmer-than-usual temperatures that curbed demand for seasonal items. Shares of Wal-Mart, the world's largest retailer,
Published 18 Nov, 2016 12:00am
French jobless rise unwelcome news for Hollande

French jobless rise unwelcome news for Hollande

France's unemployment rate increased slightly in the third quarter, figures showed Thursday in discouraging news for President Francois Hollande as he weighs a re-election bid. Joblessness was up 0.1 percentage points to 9.7 percent in the mainland. For a
Published 18 Nov, 2016 12:00am
'Safe haven' Cyprus nets record tourism year

'Safe haven' Cyprus nets record tourism year

Almost three million tourists visited Cyprus in the first 10 months of 2016, data showed Thursday, ensuring a record year for the island seen as a regional safe haven. The finance ministry said the number of tourists visiting the eastern Mediterranean cou
Published 18 Nov, 2016 12:00am
US inflation, labour market data bolster Fed December rate hike

US inflation, labour market data bolster Fed December rate hike

US consumer prices recorded their biggest increase in six months in October on rising gasoline costs and rents, suggesting a pickup in inflation that potentially clears the way for the Federal Reserve to raise interest rates in December. Prospects for a r
Published 18 Nov, 2016 12:00am
Tokyo stocks flat

Tokyo stocks flat

Tokyo stocks closed slightly up Thursday at a fresh nine-month high as a rally fuelled by a weaker yen lost steam. The benchmark Nikkei 225 index had risen nearly 10 percent by Wednesday's close in a sharp run up following Donald Trump's surprising victor
Published 18 Nov, 2016 12:00am
Dow, S&P 500 drop as US bank rally wanes, tech boosts Nasdaq

Dow, S&P 500 drop as US bank rally wanes, tech boosts Nasdaq

The S&P 500 closed lower and the Dow ended a seven-day rally on Wednesday as financial stocks fell but gains in technology stocks helped Nasdaq end the day higher. US stocks had been on a tear since the real estate developer's surprise victory in the Nove
Published 18 Nov, 2016 12:00am
Hong Kong shares slip

Hong Kong shares slip

Hong Kong's benchmark Hang Seng Index edged lower on Thursday, with continued strength in the US dollar hurting sentiment in Asia, but the decline was limited by strength in the services sector. The benchmark Hang Seng index fell 0.1 percent, to 22,262.88
Published 18 Nov, 2016 12:00am
Treasury yield curve flattens

Treasury yield curve flattens

The US Treasury yield curve flattened on Wednesday with yields on shorter-dated maturities little changed while yields on longer-dated ones fell as US producer prices and industrial output data showed inflation could be growing more slowly than expected.
Published 18 Nov, 2016 12:00am
Treasury yield curve flattens

Treasury yield curve flattens

The US Treasury yield curve flattened on Wednesday with yields on shorter-dated maturities little changed while yields on longer-dated ones fell as US producer prices and industrial output data showed inflation could be growing more slowly than expected.
Published 18 Nov, 2016 12:00am
Sri Lankan shares hit four-month low

Sri Lankan shares hit four-month low

Sri Lankan shares on Thursday ended at their lowest closing level in more than four months, on thin volume as investor sentiment was hit by budget tax proposals, including revisions in corporate and withholding taxes. The government aims to boost its 2017
Published 18 Nov, 2016 12:00am
Indian shares lower
Currency

Indian shares lower

Indian shares closed lower on Thursday after a choppy session as bluechips such as Infosys Ltd and Tata Consultancy Services Ltd weighed on the market. The broader NSE index closed 0.39 percent lower at 8,079.95 after rising as much as 0.49 percent earlie
Published 18 Nov, 2016 12:00am
China stocks up, aided by infrastructure shares

China stocks up, aided by infrastructure shares

China stocks closed slightly higher on Thursday, snapping a two-session losing streak, as gains for big-cap infrastructure stocks offset a weak resources sector. The bluechip CSI300 index rose 0.2 percent, to 3,436.54, while the Shanghai Composite Index g
Published 18 Nov, 2016 12:00am
Italian shares lag European rebound as referendum jitters hit banks

Italian shares lag European rebound as referendum jitters hit banks

Italian shares underperformed positive European markets on Thursday, as the country's bank stocks slumped to five-week lows on jitters over next month's constitutional reform referendum. A bounce in basic resources and energy stocks helped the pan-Europea
Published 18 Nov, 2016 12:00am
Australian shares up, New Zealand down

Australian shares up, New Zealand down

Australian shares closed marginally higher on Thursday, helped by telecom stocks. The S&P/ASX 200 index edged up 0.2 percent, or 10.828 points, to 5,338 at the close of trade. Data showing creation of 9,000 jobs in October, compared with the forecast of m
Published 18 Nov, 2016 12:00am
Southeast Asian markets: Philippines extends gains

Southeast Asian markets: Philippines extends gains

Philippine shares extended gains for a second straight day as better-than-expected economic growth brought cheer to the market, while broader regional sentiment was buoyed by easing US Treasury yields and the dollar. The Philippine economy grew 7.1 percen
Published 18 Nov, 2016 12:00am
FTSE rises, though Royal Mail lags after results

FTSE rises, though Royal Mail lags after results

British shares rose on Thursday, helped by gains among mining firms, though Royal Mail dropped after an earnings update. The bluechip FTSE 100 index ended up 0.7 percent, slightly outperforming the broader European market. Royal Mail was the biggest falle
Published 18 Nov, 2016 12:00am
Dollar stays near 13-1/2 year peak in Asia

Dollar stays near 13-1/2 year peak in Asia

The dollar caught its breath on Thursday, after charging to a 13-1/2 year high against a basket of currencies on bets the Trump administration will adopt inflationary policies, while the yen sagged after a Bank of Japan bond-buying operation. The dollar i
Published 18 Nov, 2016 12:00am
Dollar pulls back in Europe ahead of Yellen testimony
Currency

Dollar pulls back in Europe ahead of Yellen testimony

The dollar fell back against other major currencies on Thursday, hit by speculation US Federal Reserve chief Janet Yellen will express concern over the pace of its surge to a 13 1/2-year high in the past week and an accompanying rise in bond yields. The d
Published 18 Nov, 2016 12:00am
Dollar index hits 14-year high in New York
Currency

Dollar index hits 14-year high in New York

The dollar climbed to a near 14-year high against a basket of currencies on Wednesday, even as analysts cautioned the greenback is vulnerable to a letdown from its surge tied to bets on pro-growth policies under US President-elect Donald Trump.
Published 18 Nov, 2016 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 78.58-78.58 (previous 78.57-78.58).
Published 18 Nov, 2016 12:00am
Yuan rises

Yuan rises

China's yuan firmed against the US dollar on Thursday even as the People's Bank of China set a weaker midpoint for the 10th consecutive day. Traders said large Chinese banks had offered dollars in the market in an apparent effort to ensure the yuan does n
Published 18 Nov, 2016 12:00am
Ringgit leads Asia FX losses
Currency

Ringgit leads Asia FX losses

The Malaysian ringgit hit a 10-month low on Thursday with increasing fears of capital controls, while most other emerging Asian currencies eased ahead of US Federal Reserve Chair Janet Yellen's testimony later in the day. China's yuan bucked the trend in
Published 18 Nov, 2016 12:00am
Sri Lankan rupee little changed

Sri Lankan rupee little changed

The Sri Lankan rupee ended little changed on Thursday amid persistent worries about capital outflows as incoming President Donald Trump's policies are seen aiding higher US interest rates and a stronger greenback, while dollar selling by a state-run bank
Published 18 Nov, 2016 12:00am
Sterling climbs against euro
Currency

Sterling climbs against euro

Sterling hit a two-month high against the euro on Thursday, after data showed British retail sales surged in October and as investors focused on the political risks facing Europe in the coming months. The numbers showed annual sales growth at its highest
Published 18 Nov, 2016 12:00am
Aussie down, kiwi up

Aussie down, kiwi up

The Australian dollar was pinned near two-month lows on Thursday as the greenback surged on bets inflation and interest rates will rise in the United States under President-elect Donald Trump. The Australian dollar was at $0.7478, after skidding as far as
Published 18 Nov, 2016 12:00am
Westwood leads in Dubai, McIlroy struggles

Westwood leads in Dubai, McIlroy struggles

Lee Westwood made light of his regular caddie's absence to post a six under par 66 and lead the DP World Tour Championship by one shot on Thursday as Rory McIlroy struggled. The Englishman's long-time bagman Billy Foster has been advised to rest his injur
Published 18 Nov, 2016 12:00am
Manchester United profits dive on Champions League absence

Manchester United profits dive on Champions League absence

Manchester United posted sliding quarterly profits Thurs13day as the team paid the price for failing to qualify for the lucrative UEFA Champions League. Operating profit dived one third to £6.2 million (7.2 million euros, $7.7 million) in three months to
Published 18 Nov, 2016 12:00am
Rooney sorry for 'inappropriate' hotel pictures

Rooney sorry for 'inappropriate' hotel pictures

England football captain Wayne Rooney has apologised after "inappropriate" photos of him the worse for wear at the team hotel were published. Interim manager Gareth Southgate said meanwhile that a review would be carried out of how players spend their fre
Published 18 Nov, 2016 12:00am
Australia call on Hohns, Chappell to fix crisis

Australia call on Hohns, Chappell to fix crisis

Trevor Hohns was Thursday appointed Australia's interim chairman of selectors after Rod Marsh quit, with Greg Chappell drafted in to help rescue a national team in crisis. The experienced Hohns, who previously served as chief selector during a hugely succ
Published 18 Nov, 2016 12:00am
Proteas keep de Villiers as skipper

Proteas keep de Villiers as skipper

AB de Villiers' job as South African captain is safe despite Faf du Plessis impressing with his leadership as stand-in skipper during thumping back-to-back Test wins over Australia, selectors say. Star batsman de Villiers was ruled out of the series with
Published 18 Nov, 2016 12:00am
Guard Group register win in Treet Polo Cup

Guard Group register win in Treet Polo Cup

Guard Group overpowered Sapphire/Black Horse by 6-2 in the Pool-A match to qualify for the main final of the Treet Polo Cup 2016 while Rijas beat Diamond Paints to book berth in the subsidiary final here at the Lahore Polo Club (LPC) ground on Thursday. O
Published 18 Nov, 2016 12:00am
KP Junior Tennis: Laiba, Nirma, Hamza and Abbas in final

KP Junior Tennis: Laiba, Nirma, Hamza and Abbas in final

Top seed Laiba Ijaz, second seed Nirma Aqeel in Girls and top seeded Hamza and fourth seeded Abbas Nawaz took berth into the final of the Khyber Pakhtunkhwa Junior Girls and Boys Junior Squash Championship being played here at PAF Jansher Khan Squash Comp
Published 18 Nov, 2016 12:00am
Pakistan-New Zealand first day washed out

Pakistan-New Zealand first day washed out

The opening day of the first Test between New Zealand and Pakistan was washed out in Christchurch on Thursday. Play was abandoned just after the scheduled tea adjournment with no sign of the sweeping showers easing. However, fine weather is forecast for t
Published 18 Nov, 2016 12:00am
Djokovic routs Goffin in Tour Finals

Djokovic routs Goffin in Tour Finals

Novak Djokovic crushed David Goffin 6-1, 6-2 at the ATP Tour Finals on Thursday as the world number two kept his foot on the gas in the race to finish the year atop the world rankings. Djokovic had already qualified for the semi-finals as group winner, bu
Published 18 Nov, 2016 12:00am
Barca seals massive deal with Japan's Rakuten

Barca seals massive deal with Japan's Rakuten

Spanish giants FC Barcelona sealed a massive shirt sponsorship deal Wednesday with Japanese online retailer Rakuten worth at least 55 million euros ($59 million) a year. One of world football's most lucrative shirt sponsorship deals sees Japan's leading e
Published 18 Nov, 2016 12:00am
Kohli, Pujara tons give India opening day honours

Kohli, Pujara tons give India opening day honours

Skipper Virat Kohli and Cheteshwar Pujara hit majestic centuries to help India take opening day honours as they reached 317 for four at stumps against England in the second Test in Visakhapatnam on Thursday. Kohli put on a marathon 226-run stand for the t
Published 18 Nov, 2016 12:00am
Armed police sweep Rotterdam airport after terror tip-off

Armed police sweep Rotterdam airport after terror tip-off

Armed military police launched a security sweep at Rotterdam airport on Thursday after receiving an anonymous tip-off about a possible terror threat. The heavily-armed Dutch police in black, carrying machine guns and wearing bulletproof vests, were checki
Published 18 Nov, 2016 12:00am
Galileo satellites rocket into space

Galileo satellites rocket into space

Four Galileo satellites lifted off on board the Ariane 5 rocket from French Guiana on Thursday and will soon be detectable by European smartphones. The Galileo satellites will boost Europe's sat-nav capabilities, reducing their reliance on America's Globa
Published 18 Nov, 2016 12:00am
Bangladesh court orders Zia's arrest over 'fake birthday'

Bangladesh court orders Zia's arrest over 'fake birthday'

A Bangladesh court on Thursday issued an arrest warrant for the country's opposition leader after she failed to appear for a hearing over the date of her birthday. The bizarre controversy, which has been raging for more than a decade, centres on the fact
Published 18 Nov, 2016 12:00am
Obama to pass torch to Merkel on farewell visit

Obama to pass torch to Merkel on farewell visit

US President Barack Obama paid a farewell visit on Thursday to German Chancellor Angela Merkel, seen by some as the new standard bearer of liberal democracy since the election of Donald Trump. On the last leg of his final European tour as president, Obama
Published 18 Nov, 2016 12:00am
EU approves Ukraine visa-free travel

EU approves Ukraine visa-free travel

European Union member states on Thursday approved visa-free travel for Ukraine citizens, long sought by Kiev to help cement ties as it combats pro-Russian rebels in the east. Visa-free travel was part of an EU-Ukraine partnership accord signed in 2014 as
Published 18 Nov, 2016 12:00am
Greeks march to commemorate anti-junta uprising

Greeks march to commemorate anti-junta uprising

Thousands marched in Greece on Thursday, amid tight security, to commemorate a student uprising that helped bring down a US-backed junta in 1974. Some 3,000 people, according to a police source, participated in the annual march to the US Embassy in Athens
Published 18 Nov, 2016 12:00am
US intelligence chief Clapper resigns

US intelligence chief Clapper resigns

US Director of National Intelligence James Clapper said Thursday that he had submitted his resignation, stepping down as President-elect Donald Trump begins to assemble his new administration. Clapper, whose job is to co-ordinate the work of 17 disparate
Published 18 Nov, 2016 12:00am
Over 50 percent of Europeans trust media

Over 50 percent of Europeans trust media

A little more than half of Europeans trust their news media, with the figure much higher in Scandinavian countries but lower in several southern countries, an EU study said Thursday. Some 53 percent of respondents agreed their national media provide trust
Published 18 Nov, 2016 12:00am
Regime bombardment kills 25 civilians in east Aleppo

Regime bombardment kills 25 civilians in east Aleppo

Syrian air strikes and shelling killed 25 civilians in eastern districts of Aleppo on Thursday, a monitor said, on the third day of a wide-ranging regime assault on rebel-held areas. The bombardment hit at least six rebel-held neighbourhoods, the Syrian O
Published 18 Nov, 2016 12:00am
Iraqis move on airports in month-old Mosul battle

Iraqis move on airports in month-old Mosul battle

Iraqi forces piled pressure on the Islamic State group around Mosul Thursday, moving closer to cutting off the jihadists' escape route west to Syria and thrusting deeper into the east of the city. Pro-government paramilitary forces advancing on the town o
Published 18 Nov, 2016 12:00am
Britain deepens defence ties with France, despite Brexit

Britain deepens defence ties with France, despite Brexit

Despite voting to leave the EU, Britain is deepening defence ties with France, agreeing to pool missile development research centres in a step presented Thursday as "historic". European countries have been slow to pool arms know-how, fearing an erosion of
Published 18 Nov, 2016 12:00am
Argentina extradites Colombian drug lord to US

Argentina extradites Colombian drug lord to US

Argentina extradited alleged Colombian drug boss Henry Jesus Lopez Londono to the United States on Thursday, authorities said. Londono, 45, was taken by helicopter from a prison on the outskirts of the Argentine capital to a nearby airport, where he was p
Published 18 Nov, 2016 12:00am
Britain ratifies global climate pact

Britain ratifies global climate pact

Britain ratified the Paris agreement on climate change Thursday, joining more than 100 other countries in a move that campaigners hope will prompt US President-elect Donald Trump to honour the deal. Foreign Secretary Boris Johnson signed the Paris Agreeme
Published 18 Nov, 2016 12:00am
UK government drops plans to curb power of Lords

UK government drops plans to curb power of Lords

The British government said Thursday it has dropped plans to curb the power of the unelected House of Lords, which it had been considering following an embarrassing policy defeat. In October last year, the upper chamber of parliament defeated the governme
Published 18 Nov, 2016 12:00am
Shanghai copper slips

Shanghai copper slips

The most-traded January copper contract on the Shanghai Futures Exchange dropped 1.1 percent to close at 43,670 yuan ($6,357) a tonne on Thursday as the dollar stayed near a 13-1/2-year high, pulling the industrial metal further away from its strongest le
Published 18 Nov, 2016 12:00am
Copper rises on speculative trades

Copper rises on speculative trades

Copper rose on Thursday in volatile trade on speculative flows and against the backdrop of falling inventories for the metal used in construction and power. Benchmark copper on the London Metal Exchange closed 1.2 percent higher at $5,495.50 per tonne aft
Published 18 Nov, 2016 12:00am
Nigeria to pay $5.1 billion in unpaid bills to oil majors

Nigeria to pay $5.1 billion in unpaid bills to oil majors

Nigeria has reached a deal to pay $5.1 billion in unpaid bills to oil majors including Royal Dutch Shell and Exxon Mobil, the minister of state for oil said on Thursday. The Nigerian National Petroleum Corporation (NNPC), the OPEC member's state oil firm,
Published 18 Nov, 2016 12:00am
Oil rises on optimism over Opec deal

Oil rises on optimism over Opec deal

Oil prices rose on Thursday, with US crude briefly rising as much as $1 a barrel, as expectations of an Opec deal to limit production outweighed oversupply concerns, but a rallying dollar capped gains. Saudi Energy Minister Khalid al-Falih said he was opt
Published 18 Nov, 2016 12:00am
Rubber climbs

Rubber climbs

Benchmark Tokyo rubber futures hit a near 16-month high on Thursday, extending gains for a third day, buoyed by expectations of higher demand from top buyer China and supply worries, though it pared some of its earlier gains on profit-taking. Tokyo Commod
Published 18 Nov, 2016 12:00am
Palm oil soars on weaker ringgit, stronger Dalian
Currency

Palm oil soars on weaker ringgit, stronger Dalian

Malaysian palm oil futures rose in trade on Thursday evening, aided by a weaker ringgit, which hit a near 10-month low, and stronger-performing rival oils on China's Dalian Commodity Exchange. A weaker ringgit usually lends support to palm by making it ch
Published 18 Nov, 2016 12:00am
New York cocoa up from three-year low; London at 1-1/2-year trough

New York cocoa up from three-year low; London at 1-1/2-year trough

New York cocoa futures on ICE firmed on late-day buying after tapping their lowest in more than three years on Thursday, while London prices fell to a 1-1/2-year low on fund selling as traders focused on expectations of a 2016-17 global surplus. Raw sugar
Published 18 Nov, 2016 12:00am
Gold slips in New York
Currency

Gold slips in New York

Gold eased on Wednesday as the dollar climbed to a 14-year high against a currency basket, extending a week-long rally driven by a surge in Treasury yields after Donald Trump's election to the US presidency. The metal has shed more than $100 an ounce from
Published 18 Nov, 2016 12:00am
Gold steadies in Asia
Currency

Gold steadies in Asia

Gold steadied on Thursday in Asian trade as a rally in the US dollar showed signs of fatigue after the currency hit its highest in nearly 14 years against a basket of currencies the day before. Spot gold was up 0.1 percent at $1,226.26 an ounce at 0455 GM
Published 18 Nov, 2016 12:00am
Gold gains in Europe

Gold gains in Europe

Gold gained on Thursday, shrugging off strong US economic data and comments by US Federal Reserve Chair Janet Yellen that further bolstered the case for hiking rates next month. Markets had already come to terms with a US rate rise, so they calmed down af
Published 18 Nov, 2016 12:00am
Brazil to auction half its coffee stocks this year

Brazil to auction half its coffee stocks this year

Brazil's government will auction 693,300 bags of coffee from its stocks this year due to high coffee prices and concerns about supplies, newspaper Valor Economico reported on Thursday. If necessary, the remaining 679,400 bags could be auctioned in 2017, t
Published 18 Nov, 2016 12:00am
US grain exports slide after Trump win batters Mexican peso
Currency

US grain exports slide after Trump win batters Mexican peso

Mexican demand for US grain imports has slumped along with the country's sinking peso as buyers withdrew from the market amid soaring costs in the week since Donald Trump won the presidential election, traders and industry analysts said. Corn prices in pe
Published 18 Nov, 2016 12:00am
US MIDDAY: wheat climbs

US MIDDAY: wheat climbs

US wheat futures rose about 1.5 percent on Thursday as expectations for a drop in US wheat plantings for 2017 and strong weekly export sales prompted short-covering, traders said. Corn and soyabeans closed modestly higher on technical buying and strong we
Published 18 Nov, 2016 12:00am
US MIDDAY: gold at 5-1/2-month low

US MIDDAY: gold at 5-1/2-month low

Gold fell to a 5-1/2-month low on Thursday, giving up earlier gains as the dollar index tapped a 13-1/2-year high on strong US economic data and comments by US Federal Reserve Chair Janet Yellen that bolstered the case for hiking interest rates next month
Published 18 Nov, 2016 12:00am
Pillion riding banned: 20th and 21st

Pillion riding banned: 20th and 21st

The Sindh Home Department on Thursday imposed two-day ban on pillion riding with effect from November 20 and 21, a notification of the department said. According to the notification, the ban will be imposed due to the Chehlum of Hazrat Imam Hussain (AS),
Published 18 Nov, 2016 12:00am
PAAPAM hopes to get orders from US auto parts manufacturer

PAAPAM hopes to get orders from US auto parts manufacturer

Pakistan Association of Automotive Parts and Accessories (PAAPAM) has expressed optimism to get orders from the American auto parts manufacturer for a new model of Fiat Chrysler, expected to be launched in 2017-18. Talking to the Business Recorder,
Published 18 Nov, 2016 12:00am
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