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Print - 2016-12-23
Message from Ambassador of Pakistan to Japan

Message from Ambassador of Pakistan to Japan

On the auspicious occasion of His Majesty the Emperor's Birthday, I wish to express my profound greetings to the Imperial Family and the people of Japan. Under the able and accomplished guidance of His Majesty, Japan continues to progress with brilliant p
Published 23 Dec, 2016 12:00am
Message from Ambassador of Japan to Pakistan
Cotton

Message from Ambassador of Japan to Pakistan

I would like to extend my sincere appreciation and gratitude to the leadership and the people of Pakistan for their messages of felicitations and celebrations on the auspicious occasion of the eighty-third birthday of His Majesty, the Emperor of Japan. Hi
Published 23 Dec, 2016 12:00am
PMEX daily trading report
Cotton

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,021. The total traded value of Metals, Energy and COTS/FX was recorded at PKR 2.99 billion and the number of lots traded was 9,085. Major business was contributed by go
Published 23 Dec, 2016 12:00am
Dry spell in Argentina posing threat to soya output

Dry spell in Argentina posing threat to soya output

A dry spell in Argentina is posing a threat to soya production in southern parts of bread-basket province Buenos Aires, climate experts said on Tuesday, warning that the continued dryness expected in this area could interfere with planting. Argentina is s
Published 23 Dec, 2016 12:00am
Canadian canola futures down

Canadian canola futures down

ICE Canadian canola futures dipped on Tuesday, weighed down by weakness in soyabean prices that reflected favourable crop conditions in Argentina. Canola was underpinned by talk of export sales. March contract finished slightly higher than its closely wat
Published 23 Dec, 2016 12:00am
Activity at Karachi & Qasim ports

Activity at Karachi & Qasim ports

The Karachi Port handled 156,682 tonnes of cargo comprising 135,636 tonnes of import cargo and 21,046 tonnes of export cargo including 4,789 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargo of 1
Published 23 Dec, 2016 12:00am
Spinners avoid big deals
Cotton

Spinners avoid big deals

Business activity slowed down further on the cotton market on Thursday as several spinners avoided big deals on quality factor, dealers said. The official spot rate was unchanged at Rs 6250, dealers said. In Sindh, seed cotton prices were at Rs 2600-3250,
Published 23 Dec, 2016 12:00am
HRW wheat bids flat

HRW wheat bids flat

Cash bids for hard red winter wheat (HRW) around the southern US Plains were unchanged on Tuesday as farmers eyed quiet rangebound futures activity, merchants said. Sluggish farmer sales at times supported Chicago Board of Trade K.C. wheat contracts. Mode
Published 23 Dec, 2016 12:00am
Subdued business on cotton market
Currency

Subdued business on cotton market

Ready cotton business on Thursday was mostly easy with modest turnover with government allowing import of pending stocks which were held up in India for about 300,000 bales of cotton and reportedly another import buying of 100,000 bales by the mills, dome
Published 23 Dec, 2016 12:00am
Subdued business on cotton market
Currency

Subdued business on cotton market

Ready cotton business on Thursday was mostly easy with modest turnover with government allowing import of pending stocks which were held up in India for about 300,000 bales of cotton and reportedly another import buying of 100,000 bales by the mills, dome
Published 23 Dec, 2016 12:00am
ExxonMobil, ENI, Total to negotiate Cyprus gas exploration

ExxonMobil, ENI, Total to negotiate Cyprus gas exploration

US giant ExxonMobil with Qatar Petroleum, Italy's ENI and France's Total have been selected to negotiate a licence to explore offshore Cyprus oil and gas, officials said Wednesday. In July, eight energy giants bid for drilling rights at three blocks off t
Published 23 Dec, 2016 12:00am
Dubai plans small 2017 budget deficit

Dubai plans small 2017 budget deficit

Dubai plans to post a small budget deficit next year of 2.5 billion dirhams ($681 million), or 0.6 percent of gross domestic product, as it sharply raises spending on infrastructure, the government said on Wednesday. The emirate is extending its metro sys
Published 23 Dec, 2016 12:00am
Nigeria seizes smuggled plastic rice

Nigeria seizes smuggled plastic rice

Nigeria has seized over 100 bags of plastic rice smuggled into the country, where prices of the staple food are rocketing ahead of the Christmas and New Year holidays. A suspect has been arrested over the haul of 102 bags of the fake rice, which officials
Published 23 Dec, 2016 12:00am
Finland may need more spending cuts amid slow recovery: finance minister

Finland may need more spending cuts amid slow recovery: finance minister

Finland's economy has moved out of recession but the government may still need to cut public spending by a further 1 to 2 billion euros if growth doesn't pick up by next spring, Finance Minister Petteri Orpo said on Thursday. A finance ministry forecast s
Published 23 Dec, 2016 12:00am
Brookfield buys Indian mobile tower business for $1.6 billion

Brookfield buys Indian mobile tower business for $1.6 billion

Indian internet and telecoms company Reliance Communications said Wednesday it had agreed to sell its mobile phone tower business to Canadian asset management giant Brookfield for $1.6 billion. Reliance Communications said the deal represented the largest
Published 23 Dec, 2016 12:00am
Taiwan central bank keeps rates on hold, warns of growing trade risk

Taiwan central bank keeps rates on hold, warns of growing trade risk

Taiwan's central bank held its policy rate steady on Thursday, as growth prospects will improve next year but warned a rise in trade protectionism could hobble the export-reliant economy. Monetary conditions will stay loose to support the domestic economy
Published 23 Dec, 2016 12:00am
Petrobras sells stakes in offshore oilfields to Total

Petrobras sells stakes in offshore oilfields to Total

Brazil's state-controlled oil company Petrobras is selling stakes in two big offshore oilfields and two power plants to France's Total in a deal worth $2.2 billion, both companies announced Wednesday. The agreement comes under a previously announced Petro
Published 23 Dec, 2016 12:00am
US renews fight against EU ban on hormone-treated beef

US renews fight against EU ban on hormone-treated beef

The United States said Thursday it was relaunching a trade fight against a European Union ban on imports of hormone-treated American beef, raising the possibility of imposing tariffs on European goods. The US decision, which reignites a long-standing disa
Published 23 Dec, 2016 12:00am
WTO faults Indonesia in farm trade row

WTO faults Indonesia in farm trade row

A World Trade Organisation panel ruled Thursday in favour of US and New Zealand in disputes with Indonesia over a wide range of its import rules for agricultural products. Washington and Wellington have accused Indonesia of breaking international trade ru
Published 23 Dec, 2016 12:00am
Saudi Arabia deficit persists but lower than expected

Saudi Arabia deficit persists but lower than expected

Opec kingpin Saudi Arabia on Thursday projected another budget deficit in 2017 but reported a less-than-expected shortfall for this year after cutbacks in the face of lower oil prices. It is the first budget since the kingdom, aiming for a balanced budget
Published 23 Dec, 2016 12:00am
In first, road paved with solar panels powers French town

In first, road paved with solar panels powers French town

France on Thursday inaugurated the world's first "solar highway", a road paved with solar panels providing enough energy to power the street lights of the small Normandy town of Tourouvre. The one-kilometre (half-mile) "Wattway" covered with 2,800 square
Published 23 Dec, 2016 12:00am
New Zealand's economy races ahead on people boom

New Zealand's economy races ahead on people boom

New Zealand's economy surged ahead in the third quarter as consumers spent with abandon while homebuilding and tourism boomed, cementing expectations the country's central bank was done cutting interest rates. Official data on Thursday showed gross domest
Published 23 Dec, 2016 12:00am
UK car production hits 12-year high with December still to go

UK car production hits 12-year high with December still to go

Britain built more cars in the first eleven months of 2016 than any full year since 2004, data from an industry body showed on Thursday, putting the sector on course to make more vehicles this year than in any other since 1999. Just over 1.61 million cars
Published 23 Dec, 2016 12:00am
Duterte threatens to 'whack' dirty money watchdogs

Duterte threatens to 'whack' dirty money watchdogs

President Rodrigo Duterte on Thursday threatened to "whack" the Philippines' money laundering council, a regulatory body headed by the central bank governor, accusing its officials of corruption and failing to do their job. Duterte, given to incendiary la
Published 23 Dec, 2016 12:00am
Iran completes huge deal for 100 Airbus planes

Iran completes huge deal for 100 Airbus planes

Iran's national carrier Iran Air on Thursday completed an order for 100 Airbus planes with a list price of around $20 billion (19 billion euros) as the Islamic Republic opens up to the West. The order follows a commitment inked in January when President H
Published 23 Dec, 2016 12:00am
US consumer spending slows; business investment perking up

US consumer spending slows; business investment perking up

US consumer spending increased modestly in November as household incomes failed to rise for the first time in nine months, suggesting the economy slowed in the fourth quarter after growing briskly in the prior period. But the economy remains on solid foot
Published 23 Dec, 2016 12:00am
Saudi index edges up before budget, Egypt's rise slows
Currency

Saudi index edges up before budget, Egypt's rise slows

Saudi Arabia's stock market edged up on Thursday before the release of the kingdom's state budget for 2017, while Egypt's uptrend slowed. Other Gulf markets were mixed in modest trading volumes. The Saudi stock index added 0.4 percent. Much activity focus
Published 23 Dec, 2016 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks fell on Thursday tracking losses in overseas markets and ahead of the island's last rate review for the year in which the central bank is expected to keep the key policy rate unchanged, but would provide its outlook for 2017. The main TAIEX
Published 23 Dec, 2016 12:00am
Thursday's early afternoon trade: stocks lower in light trading

Thursday's early afternoon trade: stocks lower in light trading

US stocks were lower in early afternoon trading on Thursday, dragging the Dow Jones Industrial Average further away from 20,000, a level it has never breached. The bluechip index has been flirting with the historic level for the last several days and came
Published 23 Dec, 2016 12:00am
Wall Street loses ground after Trump rally

Wall Street loses ground after Trump rally

US stocks fell on Wednesday, with healthcare and real estate shares losing ground a day after the Nasdaq Composite and the Dow Jones Industrial Average hit record highs. The Dow briefly rose to within 15 points of 20,000, a level it has never reached, but
Published 23 Dec, 2016 12:00am
Hong Kong stocks fall

Hong Kong stocks fall

Hong Kong stocks fell on Thursday, dragged by declines in steel and coal price as well as weakness in mainland companies listed in the city. The Hang Seng index fell 0.8 percent, to 21,636.20, while the China Enterprises Index lost 1.4 percent, to 9,200.2
Published 23 Dec, 2016 12:00am
Treasury prices edge higher

Treasury prices edge higher

US Treasury debt prices gained slightly in light trading volumes before the Christmas holiday with no major economic data on Wednesday, as investors evaluated how many times the Federal Reserve is likely to raise interest rates next year. "We've been trad
Published 23 Dec, 2016 12:00am
Treasury prices edge higher

Treasury prices edge higher

US Treasury debt prices gained slightly in light trading volumes before the Christmas holiday with no major economic data on Wednesday, as investors evaluated how many times the Federal Reserve is likely to raise interest rates next year. "We've been trad
Published 23 Dec, 2016 12:00am
Indian shares remain down for seventh straight session

Indian shares remain down for seventh straight session

Indian shares fell for a seventh consecutive session on Thursday, their longest losing streak in one-and-a-half years, as bluechips such as State Bank of India and Infosys Ltd continued to be hit by foreign selling. The BSE index fell 1 percent to 25,979.
Published 23 Dec, 2016 12:00am
Tokyo stocks down

Tokyo stocks down

Tokyo stocks closed lower Thursday, tracking losses on Wall Street ahead of a long, holiday weekend and as investors took profits after the market hit a 12-month high this week. The Dow sank for just the fourth time this month on Wednesday - having hit re
Published 23 Dec, 2016 12:00am
China stocks drift

China stocks drift

China's main stock indexes barely moved on Thursday, as strength in shares of state-owned enterprises (SOE) was offset by persisting tight liquidity in the wake of a bond scandal. The CSI300 index, which rose nearly 1 percent on Wednesday, fell 0.1 percen
Published 23 Dec, 2016 12:00am
Monte Paschi shares sink further, bucking steady European trend

Monte Paschi shares sink further, bucking steady European trend

European shares fell slightly in thin pre-holiday trade on Thursday, as mining and financial stocks weakened, while the likelihood of a state rescue sent Italian lender Monte dei Paschi to a fresh record low. The STOXX 600 fell 0.2 percent, falling for a
Published 23 Dec, 2016 12:00am
Australian, New Zealand shares up

Australian, New Zealand shares up

Australian shares closed higher on Thursday, powered by financial stocks, as investors kept an eye out for US economic data expected later in the day for further cues. Investors are waiting for a range of indicators, including the third revision of US thi
Published 23 Dec, 2016 12:00am
Southeast Asian markets fall

Southeast Asian markets fall

Southeast Asian stock markets closed lower on Thursday, mirroring Asian peers, as investors turned cautious ahead of the release of US economic data later in the day. Investors are waiting for a range of economic indicators, including the third revision o
Published 23 Dec, 2016 12:00am
FTSE at two-month high helped by oil stocks

FTSE at two-month high helped by oil stocks

British shares edged up to two-month highs on Thursday, led by gains in the energy sector and among precious metals miners. The bluechip FTSE 100 index ended up 0.3 percent in thin pre-Christmas volumes at its highest closing level since October 11 and it
Published 23 Dec, 2016 12:00am
Dollar down in Asia
Currency

Dollar down in Asia

The dollar lost some steam on Thursday, slipping from its 14-year-high against a basket of currencies as investors took profits before a batch of US economic data due later in the day is published. The dollar index, which measures the greenback against si
Published 23 Dec, 2016 12:00am
Dollar dips in Europe
Currency

Dollar dips in Europe

The dollar dipped for a second day on Thursday as traders booked profits ahead of a batch of US data later in the day, though the greenback was still trading less than a percent away from a 14-year high touched earlier in the week. The US currency has sur
Published 23 Dec, 2016 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Inter-bank buy/sell rates for the taka against the dollar on Thursday. 78.80-78.85 (previous 78.80-78.85).
Published 23 Dec, 2016 12:00am
Sri Lankan rupee slips
Currency

Sri Lankan rupee slips

The Sri Lankan rupee closed marginally weaker on Thursday as importer demand for the greenback outpaced inflows from remittances and dollar conversions by exporters, dealers said. Also, weighing on sentiment were dollar purchases by state-controlled banks
Published 23 Dec, 2016 12:00am
Asian forex: Won, Taiwan dollar hit multi-month lows

Asian forex: Won, Taiwan dollar hit multi-month lows

The South Korean won hit a more than nine-month low and the Taiwan dollar touched a near five-month trough on Thursday, as the outlook for Asian currencies remained clouded by expectations the Fed could raise rates at a faster pace next year.
Published 23 Dec, 2016 12:00am
Yuan down
Currency

Yuan down

China's yuan weakened against the dollar on Thursday supported by corporate demand for the greenback, as persistent downward pressure in the local currency on bets of more losses offset a firmer midpoint. The People's Bank of China set the midpoint rate a
Published 23 Dec, 2016 12:00am
Sterling slips against dollar
Currency

Sterling slips against dollar

Sterling fell to a five-week low against the dollar on Thursday after a British consumers survey showing gloom about the economy's prospects next year kept it on the defensive and as worries about Brexit weighed on the currency. Against a perkier euro, th
Published 23 Dec, 2016 12:00am
Kiwi surges, Aussie climbs
Currency

Kiwi surges, Aussie climbs

The New Zealand dollar broke a six-session losing streak on Thursday, stepping up after data showed the economy grew at a rapid pace in the third quarter, bolstering views the nation's central bank was done cutting interest rates. The New Zealand dollar a
Published 23 Dec, 2016 12:00am
No plane advantage for Juventus: Allegri

No plane advantage for Juventus: Allegri

Juventus coach Massimiliano Allegri denied on Thursday that his side were at an advantage because their Italian Super Cup final opponents AC Milan touched down in Qatar 24 hours late. Milan only arrived in Doha late Tuesday - a full day after Juve - after
Published 23 Dec, 2016 12:00am
Biathlon World Cup: Norway joins calls for Russia doping action

Biathlon World Cup: Norway joins calls for Russia doping action

Norway on Thursday joined calls for a biathlon World Cup event to be moved from Russia over its doping scandal. Pressure mounted as the International Biathlon Union executive met in Salzburg, Austria to discuss how to handle 31 Russian doping cases report
Published 23 Dec, 2016 12:00am
Lukaku no certainty to stay even with new contract

Lukaku no certainty to stay even with new contract

Belgian international striker Romelu Lukaku may not see out his time at Everton even if he signs a lucrative new contract, the Premier League club's manager Ronald Koeman claimed on Thursday. Lukaku, 23, is reportedly set to become the first Everton playe
Published 23 Dec, 2016 12:00am
Barcelona pummel Hercules in Copa del Rey

Barcelona pummel Hercules in Copa del Rey

Turkey international Arda Turan scored a hat-trick as holders Barcelona thrashed third-division side Hercules 7-0 in the second leg of their Copa del Rey last-32 tie. Turan struck his second hat-trick in as many weeks - following a quickfire treble agains
Published 23 Dec, 2016 12:00am
Bayern hammer 10-man Leipzig to open up lead

Bayern hammer 10-man Leipzig to open up lead

Robert Lewandowski led Bayern Munich to a 3-0 triumph in their Bundesliga showdown against ten-man RB Leipzig that opened up a three-point lead over their rivals. Coach Carlo Ancelotti hailed a "perfect" first half in which Bayern's Thiago Alcantara and X
Published 23 Dec, 2016 12:00am
PSG skipper Silva extends deal to 2020

PSG skipper Silva extends deal to 2020

Paris Saint-Germain captain Thiago Silva has agreed a new contract to keep him at the Parc des Princes until 2020, the French champions announced on Thursday. "Paris Saint-Germain are delighted to announce the two-year contract extension of their captain
Published 23 Dec, 2016 12:00am
Broom sweeps out of Derbyshire as New Zealand calls

Broom sweeps out of Derbyshire as New Zealand calls

Batsman Neil Broom terminated his contract with English county side Derbyshire on Thursday after getting a surprise call-up to the New Zealand squad for the upcoming One Day International series with Bangladesh. The 33-year-old - who has not played for Ne
Published 23 Dec, 2016 12:00am
Master Paints in Pakistan Polo Cup main final

Master Paints in Pakistan Polo Cup main final

Master Paints qualified for the Shoe Planet Pakistan Polo Cup 2016 main final after defeating ZTBL by 5-4 in the match played here at the Lahore Polo Club (LPC) ground on Thursday. In the first match of the day, Master Paints dominated the earlier part of
Published 23 Dec, 2016 12:00am
Balotelli off as Monaco close gap on Nice

Balotelli off as Monaco close gap on Nice

Mario Balotelli and Younes Belhanda were sent off in the dying seconds as Ligue 1 leaders Nice stumbled into the winter break with a 0-0 draw at Bordeaux, allowing Monaco to trim the gap at the top to two points. Paris Saint-Germain eased the pressure on
Published 23 Dec, 2016 12:00am
Struggling Palace sack Pardew

Struggling Palace sack Pardew

Alan Pardew has been sacked as Crystal Palace manager with the club just above the relegation places, the Premier League side's chairman Steve Parish said on Thursday. Pardew, 55, guided Palace to last season's FA Cup final where they lost to Manchester U
Published 23 Dec, 2016 12:00am
Ashwin bags brace of ICC annual awards

Ashwin bags brace of ICC annual awards

India off-spinner Ravichandran Ashwin was named the International Cricket Council (ICC) Cricketer of the Year on Thursday for taking 48 wickets and scoring 336 runs in eight tests during the voting period. The 30-year-old Ashwin, the world's top-ranked te
Published 23 Dec, 2016 12:00am
Bruised Amir set for Boxing Day Test

Bruised Amir set for Boxing Day Test

Pakistan spearhead Mohammad Amir is expected to play the Boxing Day Test against Australia despite stiffness and a bruised thigh, officials said Thursday. The left-arm seamer, who completed a five-year ban for spot-fixing last year, left the field during
Published 23 Dec, 2016 12:00am
Brazil's Odebrecht, Braskem pay record fine in bribery case

Brazil's Odebrecht, Braskem pay record fine in bribery case

Scandal-plagued Brazilian construction giant Odebrecht and petrochemical affiliate Braskem have agreed to pay a record $3.5 billion to settle a vast international bribery case, US officials said Wednesday. Odebrecht, a key player in the Petrobras corrupti
Published 23 Dec, 2016 12:00am
Two dead in Libyan fighter jet crash

Two dead in Libyan fighter jet crash

A fighter jet from Libyan pro-government forces crashed while on a training mission Thursday, killing its two crew, a military source said. The MiG-23 went down near the town of Tarhuna about 60 kilometres (40 miles) south-east of Tripoli, said the source
Published 23 Dec, 2016 12:00am
Struggling town wins big in Spain's Christmas lottery

Struggling town wins big in Spain's Christmas lottery

Spain's annual Christmas lottery on Thursday showered 56 million euros ($58 million) on residents of a struggling town where nearly a third of the population is out of work. Celebrating residents in Pinos Puente in the southern farming region of Andalucia
Published 23 Dec, 2016 12:00am
China launches carbon dioxide monitoring satellite

China launches carbon dioxide monitoring satellite

China on Thursday launched a satellite to monitor carbon dioxide levels, state media said, making the Asian giant the third country to track the potent contributor to global warming from space. The TanSat probe will allow China to keep a close eye on gree
Published 23 Dec, 2016 12:00am
EU alleges fraud in Budapest metro project

EU alleges fraud in Budapest metro project

The EU's anti-fraud office said Thursday it is recommending the European Union recover nearly 300 million euros from Hungary over suspected fraud in the construction of the Budapest metro. OLAF, the office's French acronym, said it has "concluded an inves
Published 23 Dec, 2016 12:00am
Attacks near IS-held Mosul in Iraq kill 34

Attacks near IS-held Mosul in Iraq kill 34

Mortar fire and car bombs killed more than 30 people including aid workers near Mosul Thursday as Iraqi forces battled to seize the city from the Islamic State group. A triple car bombing on a market killed at least 23 people in Gogjali, a few kilometres
Published 23 Dec, 2016 12:00am
Eight killed after Taliban storm Afghan MP's house

Eight killed after Taliban storm Afghan MP's house

Eight people were killed when Taliban suicide bombers stormed the residence of an Afghan lawmaker in the capital Kabul, officials said after the attackers were gunned down early Thursday following a nearly 10-hour siege. Helmand MP Mir Wali survived the a
Published 23 Dec, 2016 12:00am
Japan pays UNESCO dues suspended over Nanjing row

Japan pays UNESCO dues suspended over Nanjing row

Japan said on Thursday it has paid millions of dollars in UNESCO annual funding dues after holding back the payment over a World War II-era history row. UNESCO, the UN cultural and scientific body, last year agreed to China's request to include documents
Published 23 Dec, 2016 12:00am
Snowden a 'fabricator' in contact with Russian intel

Snowden a 'fabricator' in contact with Russian intel

A scathing US Congressional report released Thursday branded intelligence leaker Edward Snowden a "serial exaggerator and fabricator" and said he has had continual contact with Russian intelligence services. The partially redacted report, released by the
Published 23 Dec, 2016 12:00am
Palestinian killed in east Jerusalem clashes

Palestinian killed in east Jerusalem clashes

A Palestinian man was killed during clashes with Israeli soldiers overnight as they arrived to demolish the home of the alleged perpetrator of a deadly attack on Israelis, the army said Thursday. A spokeswoman said that during a confrontation "suspects th
Published 23 Dec, 2016 12:00am
In 'world first', man born without hand gets one

In 'world first', man born without hand gets one

Surgeons in Poland said Thursday they had successfully attached a hand from a deceased donor to a man born without one, in what they claimed was a world first. "It is the first graft in the world of an upper limb onto an adult with this congenital defect,
Published 23 Dec, 2016 12:00am
Israeli drugmaker Teva fined $519 million in US for foreign bribes

Israeli drugmaker Teva fined $519 million in US for foreign bribes

Israeli generic drug giant Teva will pay $519 million to settle charges that it paid bribes to foreign officials to win business in Russia, Ukraine and Mexico, US officials announced Thursday. Teva, the world's biggest generic drug company, promised to en
Published 23 Dec, 2016 12:00am
UNSC postpones vote on Israeli settlements

UNSC postpones vote on Israeli settlements

The UN Security Council on Thursday postponed a vote on a draft resolution demanding that Israel halt its settlement activities as President-elect Donald Trump weighed in and said the United States should veto the measure. Egypt requested the delay to all
Published 23 Dec, 2016 12:00am
Cotton jumps on short-covering
Currency

Cotton jumps on short-covering

ICE cotton futures rose over 1 percent on Wednesday to snap a three-day losing streak, buoyed by short-covering amid an easing dollar. "Some fresh businesses came in... we probably also had some merchants covering shorts ahead of tomorrow's US export sale
Published 23 Dec, 2016 12:00am
Shanghai copper slips

Shanghai copper slips

Shanghai Futures Exchange (ShFE) copper slipped 1.6 percent to 44,430 yuan ($6,396) a tonne on Thursday. Spot copper premiums in Shanghai bonded zone continue to slide lower to $60-$70 range as business quietens down into year-end, amid credit restriction
Published 23 Dec, 2016 12:00am
Copper hits one-month low, focus on weak demand in China
Currency

Copper hits one-month low, focus on weak demand in China

Copper prices fell to one-month lows on Thursday as the generally higher dollar and a sharp drop in imports by top consumer China fuelled worries about demand. Benchmark copper on the London Metal Exchange closed up 0.1 percent to $5,519 a tonne from an e
Published 23 Dec, 2016 12:00am
Rubber down

Rubber down

New benchmark Tokyo rubber futures fell in thin trade on Thursday, mirroring a plunge in Shanghai futures and ahead of a Japanese national holiday on Friday, with the contract ending the week lower, its first drop in three weeks. The new TOCOM rubber cont
Published 23 Dec, 2016 12:00am
Malaysian palm oil slides

Malaysian palm oil slides

Malaysia palm oil futures ended Thursday's trade lower, shedding more than 1 percent as sentiment tracked the softer performance of rival oils in Dalian and on the Chicago Board of Trade. Benchmark palm oil futures for March delivery on the Bursa Malaysia
Published 23 Dec, 2016 12:00am
Cocoa and coffee prices sink in thin volumes

Cocoa and coffee prices sink in thin volumes

Cocoa futures fell on Thursday, consolidating the extended downward trend of recent weeks which took both London and New York to three-year lows. March New York cocoa was down $61, or 2.7 percent, at $2,218 a tonne, at 1528 GMT, having hit a low of $2,209
Published 23 Dec, 2016 12:00am
Gold little changed in New York

Gold little changed in New York

Gold was little changed but held above last week's 10-1/2-month low on Wednesday as a retreat in the dollar from the previous session's 14-year peak prompted some buyers to hunt bargains after the metal's sharp slide from its November high. Bullion gave u
Published 23 Dec, 2016 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold fluttered in a narrow range on Thursday in muted trading ahead of the holidays, with market participants now waiting for a bunch of US economic data due later in the day. The United States will release a third revision of US third quarter gross domes
Published 23 Dec, 2016 12:00am
Gold soars in Europe
Currency

Gold soars in Europe

Gold edged slightly higher on Thursday, as the dollar remained under pressure after the release of a batch of mixed US economic data. New orders for US-made capital goods rose more than expected in November. Other data on Thursday showed the economy grew
Published 23 Dec, 2016 12:00am
IKAR raises forecast for Russian sugar output by four percent

IKAR raises forecast for Russian sugar output by four percent

Russia may produce 5.82 million tonnes of sugar in the 2016-17 marketing year which started on August 1, IKAR agriculture consultancy said on Wednesday, raising its previous estimate by 4 percent. Russia, which produced 5.2 million tonnes of sugar in the
Published 23 Dec, 2016 12:00am
Oil prices up in quiet session as year-end approaches

Oil prices up in quiet session as year-end approaches

Oil prices rose in subdued trading on Thursday, supported by strong US economic data and optimism that crude producers would abide by an agreement to limit output. US West Texas Intermediate crude settled up 46 cents, or 0.9 percent, to $52.95 a barrel. B
Published 23 Dec, 2016 12:00am
Soyabeans hit new one-month low

Soyabeans hit new one-month low

US soyabean futures fell to a new one-month low near $10 a bushel on Thursday as forecasts for rain in Argentina dampened concerns about dryness hurting production there. Corn and wheat futures approached three-week lows. Rains in dry areas of Argentina,
Published 23 Dec, 2016 12:00am
US MIDDAY: gold eases

US MIDDAY: gold eases

Gold prices eased on Thursday as the dollar advanced in choppy trade and on expectations that the US Federal Reserve will further raise interest rates. New orders for US-made capital goods rose more than expected in November. Other data on Thursday showed
Published 23 Dec, 2016 12:00am
Mixing kerosene oil with HSD: Confession by government official

Mixing kerosene oil with HSD: Confession by government official

Acknowle-dging the mixing of kerosene oil with high speed diesel (HSD) to maximise profit by the oil marketing companies (OMCs), the government Thursday stated that the practice will be curbed within a month. Secretary Petroleum Arshad Mirza while briefin
Published 23 Dec, 2016 12:00am
MCC Preventive Lahore to organise poster competition

MCC Preventive Lahore to organise poster competition

Model Customs Collectorate (Preventive), Lahore, for the first time in the history of Pakistan Customs, is organising a poster competition for young and old artists with the objective to create awareness among the general public about the role of Customs
Published 23 Dec, 2016 12:00am
Genuine grievances of businessmen to be addressed: FBR chief

Genuine grievances of businessmen to be addressed: FBR chief

The Federal Board of Revenue (FBR) Chairman Nisar Muhammad Khan has said the genuine grievances of the business community would be addressed once budget proposals of the Lahore Chamber of Commerce & Industry (LCCI) are received. He was talking to the LCCI
Published 23 Dec, 2016 12:00am
German economist optimistic about CPEC prospects

German economist optimistic about CPEC prospects

German political economist Dr Wolfgang has expressed optimism about peaceful and efficient completion of the China-Pakistan Economic Corridor (CPEC) project. He said this while delivering a lecture on "China's Pakistan Option: Economic and Social Implicat
Published 23 Dec, 2016 12:00am
PIEDMC approves plots' sale at Quaid-e-Azam Apparel Park

PIEDMC approves plots' sale at Quaid-e-Azam Apparel Park

Board of Directors of the Punjab Industrial Estates Development and Management Company (PIEDMC) has accorded its approval to commence the sale of plots at the state-of-art Quaid-e-Azam Apparel Park that was set up on an area of 1,536 acres. The Board also
Published 23 Dec, 2016 12:00am
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