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Mar 16, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-12-23
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
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 23 Dec, 2016 12:00am
Chinese company head meets chief minister Punjab

Chinese company head meets chief minister Punjab

President of Chinese Company, Wang Tao met Punjab Chief Minister Muhammad Shahbaz Sharif, here Thursday. During the meeting, Chinese company evinced keen interest in investment in auto sector in Punjab. Talking to the President of Chinese Company, Shahbaz
Published 23 Dec, 2016 12:00am
The Weather

The Weather

The weather report on Thursday (December 22, 2016) and the forecast for Friday (December 23, 2016).

Published 23 Dec, 2016 12:00am
NIH confirms presence of Chikungunya virus in Karachi

NIH confirms presence of Chikungunya virus in Karachi

National Institute of Health (NIH), Islamabad has confirmed presence of Chikungunya virus in Karachi on Thursday as three patients were diagnosed with Chikungunya virus. NIH had initially taken samples of five patients out of which three were diagnosed wi
Published 23 Dec, 2016 12:00am
Asif may discuss proposed amendments in Nepra law with CMs

Asif may discuss proposed amendments in Nepra law with CMs

Minister for Water and Power, Khawaja Muhammad Asif is expected to convene a meeting of provincial chief ministers as part of consultative process on proposed amendment to Nepra Act 1997, well informed sources told Business Recorder on Thursday.
Published 23 Dec, 2016 12:00am
Decision to choose Pakistan my best decision: Korean envoy

Decision to choose Pakistan my best decision: Korean envoy

Korean Ambassador to Pakistan Suh Dong-gu on Thursday said that his decision to come to Pakistan is one of the best decisions he has ever made in his life. Suh Dong-gu stated this on the occasion of annual dinner of Pak-Korea Friendship Society. He said,
Published 23 Dec, 2016 12:00am
Kashmir struggles to cope with tide of trauma

Kashmir struggles to cope with tide of trauma

In a consultation room in a Kashmiri hospital, Parvaiz Ahmed struggles to find the words to describe how his interrogation at the hands of India's security forces seven years ago has left him traumatised. Speaking in a whisper and barely looking up from t
Published 23 Dec, 2016 12:00am
KMC Council proceedings: Karamullah Waqasi elected leader of opposition

KMC Council proceedings: Karamullah Waqasi elected leader of opposition

With the Mayor presiding over his maiden proceedings, the Karachi Metropolitan Corporation (KMC) Council on Thursday chose Karamullah Waqasi as opposition leader with a unanimous vote to keep a check on the civic department's works. Interestingly, after a
Published 23 Dec, 2016 12:00am
Shahbaz visits under- construction 1230 megawatts gas power plant

Shahbaz visits under- construction 1230 megawatts gas power plant

Punjab Chief Minister Shahbaz Sharif Thursday visited under construction 1230 megawatt gas power plant at Haveli Bahadar Shah Jhang. He saw different parts of the plant and inspected gas turbines. During his visit, the CM also met engineers, staff and wor
Published 23 Dec, 2016 12:00am
Aitzaz demands minister's removal over Quetta carnage report

Aitzaz demands minister's removal over Quetta carnage report

The opposition lawmakers in Senate on Thursday shifted focus to their demand of Interior Minister Chaudhary Nisar Ali Khan's resignation, demanding his ouster from the federal cabinet in view of Justice Qazi Faez Isa Commission report on Balochistan carna
Published 23 Dec, 2016 12:00am
Plea bargain: Rabbani tasks panel to look into Section 25-A of NAB law

Plea bargain: Rabbani tasks panel to look into Section 25-A of NAB law

Chairman Senate Raza Rabbani Thursday flayed National Accountability Bureau (NAB) for clearing a bureaucrat facing Rs 40 billion corruption charges, and tasked the Parliamentary Committee on Law and Justice to look into Section 25-A of NAB Ordinance perta
Published 23 Dec, 2016 12:00am
Houbara bustards: LHC calls summary

Houbara bustards: LHC calls summary

The Lahore High Court on Thursday called the summary of awarding approval to the Qatar's royal family for hunting internationally-protected houbara bustards and other migrated birds. Chief Justice Syed Mansoor Ali Shah also issued notice for the first wee
Published 23 Dec, 2016 12:00am
PITB launches judicial e-stamp paper today

PITB launches judicial e-stamp paper today

After the successful launch of non-Judicial e-stamp papers in the 36 districts and 144 tehsils of Punjab province, Punjab Information Technology Board (PITB) is set to launch judicial e-stamp papers through e-stamping system from Friday (today) from sched
Published 23 Dec, 2016 12:00am
PU teachers condemn 'hooliganism' of IJT

PU teachers condemn 'hooliganism' of IJT

The Punjab University teachers have strongly condemned the alleged hooliganism of Islami Jamiat Talaba and said that non-student elements were destroying peace of campus, taking advantage of non-appointment of Vice Chancellor.
Published 23 Dec, 2016 12:00am
Customs values on import of heaters revised

Customs values on import of heaters revised

The Directorate General of Customs Valuation Karachi has revised customs values on the import of wide range of electric heaters, pedestle sun heaters and fan heaters, from China.
Published 23 Dec, 2016 12:00am
SMEDA, SBP facilitate conducive environment for SME sector

SMEDA, SBP facilitate conducive environment for SME sector

"The Small and Medium Enterprises Development Authority (SMEDA) and the State Bank of Pakistan's continuous collaboration has resulted in creation of conducive financial environment for the small and medium enterprises (SME) sector." SMEDA's General Manag
Published 23 Dec, 2016 12:00am
Court seeks details about Musharraf's property

Court seeks details about Musharraf's property

A local court while directing local authorities to submit the details regarding Pervez Musharraf's property Thursday adjourned the hearing of the case till January 21, 2017. Additional Sessions Judge Pervaiz Qadir Memon heard the Ghazi Abdul Rasheed murde
Published 23 Dec, 2016 12:00am
Governor Punjab advises girls

Governor Punjab advises girls

Governor Punjab Malik Muhammad Rafique Rajwana here on Thursday urged the girl students not to sit in their homes after getting degrees rather join their respective professions to serve the society and humanity. He was addressing the 8th Convocation of th
Published 23 Dec, 2016 12:00am
PML-N victorious in final phase of Punjab LB polls

PML-N victorious in final phase of Punjab LB polls

Pakistan Muslim League-Nawaz (PML-N) turned out victorious in the final phase of Punjab Local Bodies elections on Thursday as it secured 27 seats out of total 35 including district councils, municipal corporations and municipal committees while seven inde
Published 23 Dec, 2016 12:00am
ECP expresses satisfaction over meeting constitutional obligation

ECP expresses satisfaction over meeting constitutional obligation

Election Commission of Pakistan (ECP) Thursday expressed satisfaction over accomplishment of constitutional obligation to hold the local government elections under Article 140A of Constitution with the election of mayors, deputy mayors, chairmen and vice-
Published 23 Dec, 2016 12:00am
FWBL signs PayPak agreement with 1LINK

FWBL signs PayPak agreement with 1LINK

First Women Bank Ltd (FWBL) has entered into an agreement with 1LINK (Guarantee) Limited that will enable FWBL to issue PayPak branded debit cards. Through this strategic alliance, FWBL and 1LINK plan to achieve mutual goal of successful financial inclusi
Published 23 Dec, 2016 12:00am
Gilani's sons exhibit arms during LG polls

Gilani's sons exhibit arms during LG polls

The sons of former Prime Minister Yousaf Raza Gillani on Thursday trampled the law by exhibiting weapons during ongoing local bodies' elections in Multan. According to details, Abdul Qadar Gillani, Ali Mosa Gilani and Ali Haider Gilani visited a camp of P
Published 23 Dec, 2016 12:00am
PAS Awards 2017 competition launched

PAS Awards 2017 competition launched

Pakistan Advertisers Society (PAS) is a not-for-profit organisation that champions the legitimate interests of advertisers; that aspires advertising is efficient and effective for the advertiser; rewarding for the media, agencies and associate suppliers;
Published 23 Dec, 2016 12:00am
New K-E management must reduce tariff and invest in system: CM

New K-E management must reduce tariff and invest in system: CM

Sindh Chief Minister Syed Murad Ali Shah has urged the new management of K-Electric to upgrade the supply, transmission and distribution system so that smooth supply of power to the citizen of Karachi could be made. He said this talking to a delegation of
Published 23 Dec, 2016 12:00am
Iran offers 200 buses for Karachi

Iran offers 200 buses for Karachi

The Government of Iran has offered 200 latest buses for Karachi. The offer was made by the Consul General of Iran in Karachi, Medhi Subhani, who along with a delegation met with the Sindh Minister for Transport, Syed Nasir Hussain Shah, at his office on T
Published 23 Dec, 2016 12:00am
Four killed in rival groups' clash

Four killed in rival groups' clash

At least four people were killed and two others injured in armed clash between two rival groups here on Thursday. The SSP said that armed men belonging to two groups of 'Malah' community which were in difference over old dispute clashed in a suburban vill
Published 23 Dec, 2016 12:00am
Fire in Gadani ship-breaking yard put out

Fire in Gadani ship-breaking yard put out

A fire, which erupted in the Gadani ship-breaking yard plot earlier Thursday, was put out. Pictures showed that an old ship on plot No 60 had caught fire. Clouds of black smoke could be seen rising from the ship. Rescue teams and the fire brigade were dis
Published 23 Dec, 2016 12:00am
SAU confers degrees on 350 graduates
Cotton

SAU confers degrees on 350 graduates

The Sindh Agriculture University conferred academic degrees on 350 graduates at its 10th convocation in Tando Jam, on Thursday. Around two PhD scholars, 57 postgraduates received degrees at the event, and 24 medals were awarded to best students of differe
Published 23 Dec, 2016 12:00am
Dubai's Hyatt to expand business in Pakistan

Dubai's Hyatt to expand business in Pakistan

Hyatt, a well-known hotel chain in Dubai has decided to expand its business in Pakistan. Speaking at an event, which was jointly organised by Hyatt and AEG Travel Services at a local hotel, Asif Raza, Executive Assistant Manager Sales and Marketing said t
Published 23 Dec, 2016 12:00am
JI thanks Zardari for assurance on conversion bill

JI thanks Zardari for assurance on conversion bill

Co-chairman Pakistan People's Party Asif Ali Zardari has given his word to the Ameer Jammat-e-Islami Sirajul Haq to strike down the recently passed forced conversion bill in the Sindh Assembly, claimed a JI spokesperson. Siraj thanked the PPP leader for t
Published 23 Dec, 2016 12:00am
MCB Islamic banking branch opened

MCB Islamic banking branch opened

President of Hyderabad Chamber of Small Traders and Small Industry (HCSTSI), Muhammad Akram Ansari while inaugurating the Islamic banking branch of Muslim Commercial Bank here at Latifabad Unit-7 on Thursday said that Riba-free banking has gained confiden
Published 23 Dec, 2016 12:00am
Huge cache of arms recovered

Huge cache of arms recovered

Frontier corps (FC) personal and securities agencies recovered 9 hand gernades and 25kg of explosive material on Thursday. According to spokesperson of the FC, security agencies on a tipoff conducted the search operation in the area of Qilla Abdualla and
Published 23 Dec, 2016 12:00am
Listing of new companies on PSX still low

Listing of new companies on PSX still low

The trend of listing of new companies on Pakistan Stock Exchange (PSX) remained low as the Pakistan market witnessed only 3 initial public offerings (IPOs) during 2016 raising Rs 4.2 billion. This is significantly lower than last year's 6 IPOs of Rs 116 b
Published 23 Dec, 2016 12:00am
BoDs approve appointment of Elahi as acting chairman PIA

BoDs approve appointment of Elahi as acting chairman PIA

The Board of Directors of Pakistan International Airlines Corporation Ltd (PIACL) has approved the appointment of Muhammad Irfan Elahi secretary aviation as acting chairman of the airline. The decision was made at the 8th meeting of the Board of Directors
Published 23 Dec, 2016 12:00am
'Christmas Peace Train' launched

'Christmas Peace Train' launched

Minister for Railways Khawaja Saad Rafique on Thursday launched Christmas Peace Train, the very first in the history of the sub-continent, to express solidarity with the minority Christian community and promote inter-faith harmony. The Ministries of Pakis
Published 23 Dec, 2016 12:00am
MoC chalks out Central Asia-focused trade promotion plan: Dastgir
Cotton

MoC chalks out Central Asia-focused trade promotion plan: Dastgir

"In order to realize the Prime Minister's vision of regional connectivity for enhanced economic integration and to follow up on initiatives taken during the Prime Minister's recent visits to Central Asian countries, the Ministry of Commerce has chalked ou
Published 23 Dec, 2016 12:00am
Prime Minister visits Bosnian war memorial

Prime Minister visits Bosnian war memorial

Prime Minister Nawaz Sharif on Thursday visited Kovaci memorial, the largest cemetery of the fallen soldiers in Bosnia and Herzegovina during the 1992-95 war. The Prime Minister along with the Chairman of Council of Ministers - the Prime Minister of Bosni
Published 23 Dec, 2016 12:00am
Prime Minister returns

Prime Minister returns

Prime Minister Nawaz Sharif returned here Thursday after concluding his three-day official visit to Bosnia and Herzegovina. The Prime Minister on his way back home also made a stopover at the Romania's capital Bucharest for one-and-a-half-hour, for refue
Published 23 Dec, 2016 12:00am
NAB promoting corruption: Imran

NAB promoting corruption: Imran

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Thursday said that the National Accountability Bureau (NAB) 'is promoting corruption' in Pakistan. "Mushtaq Raisani's plea bargain with NAB to "clear" his Rs 40bn corruption by paying Rs 2bn shows NAB
Published 23 Dec, 2016 12:00am
Malik issues warning to government

Malik issues warning to government

Former Interior Minister and Central leader of Pakistan Peoples Party Rehman Malik has warned the ruling PML-N not to commit any mistake on the return of former President Asif Ali Zardari on 23rd December (today). Talking to media persons on Thursday, Reh
Published 23 Dec, 2016 12:00am
Seafood export scales up to 32 percent

Seafood export scales up to 32 percent

Pakistan seafood export surged by 17.40 percent to $155.884 million in July-November 2016 with an increased fisheries landing at the harbor, fishermen said here on Thursday. Seafood export growth now stands at $23.108 million in July-November 2016 from $1
Published 23 Dec, 2016 12:00am
Industry adjusts 400 participants of Job Fair: SCCI chief

Industry adjusts 400 participants of Job Fair: SCCI chief

President, Sarhad Chamber of Commerce and Industry (SCCI), Haji Mohammad Afzal said that during the recently held Job Fair jointly organised under the auspices of SCCI in collaboration with Technology Up-gradation & Skill Development Company (TUSDEC) 400
Published 23 Dec, 2016 12:00am
'KP government taking steps towards women's development'

'KP government taking steps towards women's development'

Khyber Pakhtunkhwa Senior Minister for Irrigation, Social Welfare and Women Empowerment Sikandar Hayat Khan Sherpao has said that the provincial government is taking practical steps for development of women, protection of their rights along with provision
Published 23 Dec, 2016 12:00am
NAB arrests Telephone Industries Haripur chief

NAB arrests Telephone Industries Haripur chief

National Accountability Bureau (NAB) Khyber Pakhtunkhwa has arrested accused Syed Muhammad Hussain Shah, Chairman, Telephone Industries of Pakistan Limited, Haripur for alleged involvement in illegal allotment of plots in Telephone Industries of Pakistan
Published 23 Dec, 2016 12:00am
Property expo starts tomorrow

Property expo starts tomorrow

Zameen.com, Pakistan's premier real estate website, is set to hold the Zameen.com Property Expo 2016 for the second time in Islamabad at the Pak-China Friendship Centre on December 24-25, 2016. The two-day event will gather renowned real estate developers
Published 23 Dec, 2016 12:00am
School blown up in Mohmand Agency

School blown up in Mohmand Agency

Unidentified saboteurs blew up a government school in Mosal in Mohmand Agency with an improvised explosive device on Thursday. According to the political administration official the blast ripped through the school building and destroyed its two rooms and
Published 23 Dec, 2016 12:00am
NAB releases ex-MD Pepco

NAB releases ex-MD Pepco

Former Managing Director (MD) of Pakistan Electric Power Company (Pepco) Tahir Basharat Cheema was released from NAB custody on Thursday after a bail granted by the Supreme Court on December 16, said family sources. Cheema was arrested on May 5, by the NA
Published 23 Dec, 2016 12:00am
Pakistan making progress, says Hamza

Pakistan making progress, says Hamza

Pakistan Muslim League-Nawaz leader Hamza Shahbaz Sharif MNA has said that Christian community is a respectable segment of our society and all the Christians enjoy the equal rights like every Pakistani. He expressed these views during cake cutting ceremon
Published 23 Dec, 2016 12:00am
Death anniversary of Noor Jahan today

Death anniversary of Noor Jahan today

The 16th death anniversary of Madam Noor Jahan will be observed on December 23 in Lahore and Karachi. Quran Khawani will be held for the departed soul and people belonging to Pakistan film industry will pay a rich tribute to the services of Madam. Madam N
Published 23 Dec, 2016 12:00am
ACE Punjab launches crackdown against corrupt officials

ACE Punjab launches crackdown against corrupt officials

The Anti-Corruption Establishment (ACE) Punjab has launched a crackdown against corrupt officials. As per details, the anti-corruption authorities conducted raids in Okara, DG Khan, Rajanpur, Layyah and Chiniot districts and arrested District Officers Roa
Published 23 Dec, 2016 12:00am
Businessmen concerned over economic situation

Businessmen concerned over economic situation

The leadership of the Businessmen Panel (BMP) and Pakistan Business Group (PBG) Alliance at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) have expressed their concern over the current economic situation of the country.
Published 23 Dec, 2016 12:00am
Joint efforts urged to curb climate change effects
Cotton

Joint efforts urged to curb climate change effects

Agri experts have called for joint efforts to curb climate change effects on agricultural productivity with the help of adaptation and mitigating strategies and development of climate resilient varieties. They stated this while addressing a workshop on "A
Published 23 Dec, 2016 12:00am
Baldia factory fire was not accidental: forensic agency

Baldia factory fire was not accidental: forensic agency

DG Punjab Forensic Science Agency Dr Tahir Ashraf has said that the fire in Baldia factory was not accidental, but the factory was set on fire. During media briefing along with DG Punjab Forensic Science Agency, Dr Tahir Ashraf, Spokesperson to Punjab Gov
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
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
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
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
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
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
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
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
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
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
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 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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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