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Print - 2016-12-29
Bullish spell deepens

Bullish spell deepens

Pakistan Stock Exchange Wednesday witnessed another bullish day on the back of healthy buying mainly in banking and fertilizer sectors. The benchmark KSE-100 index rose by 504.16 points to close at the highest-ever level of 47,424.63 points. Trading activ
Published 29 Dec, 2016 12:00am
Bullish spell deepens

Bullish spell deepens

Pakistan Stock Exchange Wednesday witnessed another bullish day on the back of healthy buying mainly in banking and fertilizer sectors. The benchmark KSE-100 index rose by 504.16 points to close at the highest-ever level of 47,424.63 points. Trading activ
Published 29 Dec, 2016 12:00am
Bullish spell deepens

Bullish spell deepens

Pakistan Stock Exchange Wednesday witnessed another bullish day on the back of healthy buying mainly in banking and fertilizer sectors. The benchmark KSE-100 index rose by 504.16 points to close at the highest-ever level of 47,424.63 points. Trading activ
Published 29 Dec, 2016 12:00am
Euro forefather Tietmeyer dies
Currency

Euro forefather Tietmeyer dies

Former Bundesbank president Hans Tietmeyer, a key architect of the euro who oversaw its introduction in Germany, has died at the age of 85, the central bank announced Wednesday. Tietmeyer ran the mighty Bundesbank from 1993 to 1999, a period that straddle
Published 29 Dec, 2016 12:00am
Euro forefather Tietmeyer dies
Currency

Euro forefather Tietmeyer dies

Former Bundesbank president Hans Tietmeyer, a key architect of the euro who oversaw its introduction in Germany, has died at the age of 85, the central bank announced Wednesday. Tietmeyer ran the mighty Bundesbank from 1993 to 1999, a period that straddle
Published 29 Dec, 2016 12:00am
MoF urged to clear Rs 102 billion power subsidy claims

MoF urged to clear Rs 102 billion power subsidy claims

Ministry of Water and Power has reportedly urged the Ministry of Finance to clear power subsidy claims of Rs 102 billion immediately aimed at paying the Independent Power Producers (IPPs) and Pakistan State Oil (PSO), a senior official told Business Re
Published 29 Dec, 2016 12:00am
MoF urged to clear Rs 102 billion power subsidy claims

MoF urged to clear Rs 102 billion power subsidy claims

Ministry of Water and Power has reportedly urged the Ministry of Finance to clear power subsidy claims of Rs 102 billion immediately aimed at paying the Independent Power Producers (IPPs) and Pakistan State Oil (PSO), a senior official told Business Re
Published 29 Dec, 2016 12:00am
MoF urged to clear Rs 102 billion power subsidy claims

MoF urged to clear Rs 102 billion power subsidy claims

Ministry of Water and Power has reportedly urged the Ministry of Finance to clear power subsidy claims of Rs 102 billion immediately aimed at paying the Independent Power Producers (IPPs) and Pakistan State Oil (PSO), a senior official told Business Re
Published 29 Dec, 2016 12:00am
Gas prices for power sector slashed by 35 percent

Gas prices for power sector slashed by 35 percent

The government has slashed gas prices for the power sector by about 35 per cent to Rs 400 per MMBTU from Rs 613 per MMBTU aimed at eliminating price disparity and reduce electricity generation cost. Official sources told Business Recorder that the
Published 29 Dec, 2016 12:00am
Gas prices for power sector slashed by 35 percent

Gas prices for power sector slashed by 35 percent

The government has slashed gas prices for the power sector by about 35 per cent to Rs 400 per MMBTU from Rs 613 per MMBTU aimed at eliminating price disparity and reduce electricity generation cost. Official sources told Business Recorder that the
Published 29 Dec, 2016 12:00am
Gas prices for power sector slashed by 35 percent

Gas prices for power sector slashed by 35 percent

The government has slashed gas prices for the power sector by about 35 per cent to Rs 400 per MMBTU from Rs 613 per MMBTU aimed at eliminating price disparity and reduce electricity generation cost. Official sources told Business Recorder that the
Published 29 Dec, 2016 12:00am
Government mulling amending Nepra law

Government mulling amending Nepra law

The government is considering amending National Electric Power Regulatory Authority (Nepra) Act to ''influence'' tariff determination subsequent to taking administrative control of regulators through a notification issued by the Cabinet Division.
Published 29 Dec, 2016 12:00am
Government mulling amending Nepra law

Government mulling amending Nepra law

The government is considering amending National Electric Power Regulatory Authority (Nepra) Act to 'influence' tariff determination subsequent to taking administrative control of regulators through a notification issued by the Cabinet Division.
Published 29 Dec, 2016 12:00am
JLI MANAGED TAKAFUL FUND

JLI MANAGED TAKAFUL FUND

JLI Managed Takaful Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
Government mulling amending Nepra law

Government mulling amending Nepra law

The government is considering amending National Electric Power Regulatory Authority (Nepra) Act to 'influence' tariff determination subsequent to taking administrative control of regulators through a notification issued by the Cabinet Division.
Published 29 Dec, 2016 12:00am
JLI MANAGED TAKAFUL FUND

JLI MANAGED TAKAFUL FUND

JLI Managed Takaful Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
Fourth nuclear plant goes online

Fourth nuclear plant goes online

Pakistan''''s fourth nuclear power plant went online Wednesday, a joint collaboration with China that adds 340 megawatts to the national grid as part of the goverment''''s efforts to end a growth-sapping energy deficit. Pakistan seeks to close an electric
Published 29 Dec, 2016 12:00am
JLI MANAGED TAKAFUL FUND

JLI MANAGED TAKAFUL FUND

JLI Managed Takaful Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
Fourth nuclear plant goes online

Fourth nuclear plant goes online

Pakistan''s fourth nuclear power plant went online Wednesday, a joint collaboration with China that adds 340 megawatts to the national grid as part of the goverment''s efforts to end a growth-sapping energy deficit. Pakistan seeks to close an electricity
Published 29 Dec, 2016 12:00am
Fourth nuclear plant goes online

Fourth nuclear plant goes online

Pakistan's fourth nuclear power plant went online Wednesday, a joint collaboration with China that adds 340 megawatts to the national grid as part of the goverment's efforts to end a growth-sapping energy deficit. Pakistan seeks to close an electricity sh
Published 29 Dec, 2016 12:00am
Fourth nuclear plant goes online

Fourth nuclear plant goes online

Pakistan's fourth nuclear power plant went online Wednesday, a joint collaboration with China that adds 340 megawatts to the national grid as part of the goverment's efforts to end a growth-sapping energy deficit. Pakistan seeks to close an electricity sh
Published 29 Dec, 2016 12:00am
US adds Al-Muhammadia Students to terrorist bodies' list

US adds Al-Muhammadia Students to terrorist bodies' list

The United States on Wednesday announced it was adding the student wing of the Lashkar-e-Taiba, to its list of "foreign terrorist organisations." The State Department move against the student group, Al-Muhammadia Students, came as the Treasury Department
Published 29 Dec, 2016 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
JLI Capital Growth Fund Rates

JLI Capital Growth Fund Rates

Jubilee Life Insurance Capital Growth Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
JLI Capital Growth Fund Rates

JLI Capital Growth Fund Rates

Jubilee Life Insurance Capital Growth Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
JLI Capital Growth Fund Rates

JLI Capital Growth Fund Rates

Jubilee Life Insurance Capital Growth Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
JLI Managed Growth Fund Rates

JLI Managed Growth Fund Rates

Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
JLI Managed Growth Fund Rates

JLI Managed Growth Fund Rates

Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
JLI Managed Growth Fund Rates

JLI Managed Growth Fund Rates

Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
Money Market Report
Currency

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (December 28, 2016).
Published 29 Dec, 2016 12:00am
Currency notes: exchange rates
Currency

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (December 28, 2016).

Published 29 Dec, 2016 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 29 Dec, 2016 12:00am
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 29 Dec, 2016 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 29 Dec, 2016 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 29 Dec, 2016 12:00am
Palm oil mostly firmer on European vegoils market

Palm oil mostly firmer on European vegoils market

Palm oil on the European vegetable oils market was mostly firmer on Tuesday, the first trading day following the Christmas break, as Malaysian palm oil futures rose on optimism over exports and due to strength in rival soyaoil. Palm oil was mostly offered
Published 29 Dec, 2016 12:00am
Heavy rains miss parts of Argentina's soya areas

Heavy rains miss parts of Argentina's soya areas

The heavy rains that pelted parts of Argentina over the weekend did not reach the south-eastern part of the bread-basket province of Buenos Aires, where dryness is threatening to dent soyabean production, local farm weather experts said on Monday.
Published 29 Dec, 2016 12:00am
PMEX daily trading report
Cotton

PMEX daily trading report

On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,046. The total traded value of Metals, Energy and COTS/FX was recorded at PKR 2.29 billion and the number of lots traded was 7,492. Major business was contributed by gold
Published 29 Dec, 2016 12:00am
US natural gas futures hit over two-year high

US natural gas futures hit over two-year high

US natural gas futures hit an over two-year high and jumped nearly 3 percent on Tuesday on colder weather forecasts for January. Front-month gas futures for January delivery on the New York Mercantile Exchange rose 9.9 cents or 2.7 percent to settle at $3
Published 29 Dec, 2016 12:00am
Soaring US markets push EU wheat futures higher

Soaring US markets push EU wheat futures higher

European wheat prices rose on Tuesday, supported by soaring US markets at a time when the euro remains low against the dollar but activity was thin with many operators on Christmas holiday. March milling wheat on the Paris-based Euronext exchange unoffici
Published 29 Dec, 2016 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 126,105 tonnes of cargo comprising 112,172 tonnes of import cargo and 13,933 tonnes of export cargo including 3,631 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday.
Published 29 Dec, 2016 12:00am
Cotton prices firm on emerging demand by spinners
Cotton

Cotton prices firm on emerging demand by spinners

The trade activity improved on the cotton market on Wednesday as spinners and mills took interest in fresh buying, dealers said. The official spot rate was unchanged at Rs 6200, dealers said. In Sindh, seed cotton prices were at Rs 2600-3250, they said th
Published 29 Dec, 2016 12:00am
US FOB Gulf corn, soya offers mostly steady

US FOB Gulf corn, soya offers mostly steady

Export premiums for corn and soyabeans shipped from the US Gulf Coast were mostly steady on Tuesday, supported by overseas demand, traders said. US corn is competitively priced in the global market through March, after which time cheaper grain from South
Published 29 Dec, 2016 12:00am
New Mauritius Hotels swings to loss in full year

New Mauritius Hotels swings to loss in full year

Luxury hotel group New Mauritius Hotels on Wednesday swung to a loss of 758 million rupees ($21.14 million) in the year to September 30 from a pretax profit of 230 million rupees a year earlier, hit by a poor performance at its Moroccan business.
Published 29 Dec, 2016 12:00am
Central bank adviser says China needs property tax

Central bank adviser says China needs property tax

China needs a real estate tax to control rising property prices and narrow the gap between rich and poor, Fan Gang, a member of the central bank monetary policy committee, was quoted as saying. Reasons for the delay include resistance from vested interest
Published 29 Dec, 2016 12:00am
Airbus delays delivery of 12 A380s to Emirates

Airbus delays delivery of 12 A380s to Emirates

Airbus said Tuesday it was postponing for a year the planned delivery of 12 A380 superjumbos to Dubai's Emirates airline, without offering reasons for the delay. The aerospace giant will "change its pace of its deliveries by delaying the delivery to Emira
Published 29 Dec, 2016 12:00am
Shanghai banks told to lend more to riskier small firms

Shanghai banks told to lend more to riskier small firms

Shanghai's banking regulator has told domestic commercial banks in the commercial hub to keep up lending to small firms and increase their tolerance for bad loans, two sources told Reuters on Wednesday. The Shanghai branch of the China Banking Regulatory
Published 29 Dec, 2016 12:00am
End of lockup for subsidised Thai cars fuels hope of sales boost

End of lockup for subsidised Thai cars fuels hope of sales boost

After years of falling domestic sales, Thailand's auto industry is hoping 2017 will be a year of recovery with the end of a five-year restriction on people selling cars bought under a government subsidy scheme. About 1.1 million vehicles were bought under
Published 29 Dec, 2016 12:00am
Vietnam suffers first slowdown in economic growth for four years

Vietnam suffers first slowdown in economic growth for four years

Vietnam's economy expanded an estimated 6.21 percent this year, slightly behind 2015 and marking the first slowdown in four years, but a fourth-quarter surge to 6.68 percent was the best for a year, keeping it among Asia's fastest-growing economies. Drops
Published 29 Dec, 2016 12:00am
Qualcomm fined $853 million by South Korea anti-trust watchdog

Qualcomm fined $853 million by South Korea anti-trust watchdog

South Korea's anti-trust watchdog slapped US computer chip giant Qualcomm with a record fine exceeding $850 million on Wednesday for abusing its dominant market position as a maker of baseband chipsets used in mobile phones. The announcement came as Qualc
Published 29 Dec, 2016 12:00am
Writedown fears wipe $5 billion off Toshiba's value as it weighs options

Writedown fears wipe $5 billion off Toshiba's value as it weighs options

A looming writedown at Japanese conglomerate Toshiba Corp has wiped almost $5 billion off its value in two days and prompted a credit rating downgrade on Wednesday, as the company grapples to plug a potential multi-billion dollar hole. Toshiba said late o
Published 29 Dec, 2016 12:00am
Argentines declare $90 billion in tax amnesty, recession lingers

Argentines declare $90 billion in tax amnesty, recession lingers

Argentina said on Tuesday that $90 billion in assets had been declared so far under the government's tax amnesty plan, which outgoing Finance Minister Alfonso Prat-Gay called "an extraordinary success." Other government data published Tuesday showed econo
Published 29 Dec, 2016 12:00am
China to speed up drafting overseas investment regulations

China to speed up drafting overseas investment regulations

China will speed up drafting regulations on overseas investment, as investment in sectors such as property has shown irregularities, a senior commerce ministry official was quoted as saying on Tuesday. Zhou Liujun told state-owned news agency China News S
Published 29 Dec, 2016 12:00am
Korean Air pledges clampdown on unruly passengers

Korean Air pledges clampdown on unruly passengers

Korean Air said Wednesday it would let its crew use stun guns more aggressively and put more male staff aboard flights to clamp down on violence, after an incident involving an unruly passenger. South Korea's flag carrier said it was tightening security a
Published 29 Dec, 2016 12:00am
Japan firms ramp up output; economic prospects brightening

Japan firms ramp up output; economic prospects brightening

Japan's factory output rose in November and manufacturers expect to ramp up production in coming months, data showed on Wednesday, underscoring the central bank's view that a pick-up in global demand will underpin a steady economic recovery. Retail sales
Published 29 Dec, 2016 12:00am
Kuwait to start importing gas from Iraq: ministers

Kuwait to start importing gas from Iraq: ministers

Kuwait is set to begin importing up to 200 million cubic feet of gas daily from neighbouring Iraq, oil ministers from the two Arab nations said after talks on Wednesday. Cited by Kuwait News Agency KUNA, Iraqi Oil Minister Jabbar al-Luaibi said the projec
Published 29 Dec, 2016 12:00am
BP buys Australian petrol pump network for US $1.3 billion

BP buys Australian petrol pump network for US $1.3 billion

British energy giant BP announced Wednesday that it has agreed to buy a network of Australian petrol stations from supermarket chain Woolworths for US $1.3 billion (1.2 billion euros). BP said in a statement that it will establish a strategic partnership
Published 29 Dec, 2016 12:00am
China in biggest-ever pangolin scale seizure

China in biggest-ever pangolin scale seizure

Chinese customs seized over three tonnes of pangolin scales, state media said, in the country's biggest-ever smuggling case involving the animal parts. Shanghai Customs found around 3.1 tonnes of pangolin scales mixed in with a container of wood products
Published 29 Dec, 2016 12:00am
Regulator busts illegal FX transactions worth $2.7 billion
Currency

Regulator busts illegal FX transactions worth $2.7 billion

China's foreign exchange regulator said on Wednesday it busted illegal transactions totalling $2.7 billion in Shanghai in co-operation with the police in 2016, and suspended three unnamed banks involved from selling foreign currency. State Administration
Published 29 Dec, 2016 12:00am
China state-owned firms' profit growth edges higher

China state-owned firms' profit growth edges higher

Profits at China's state-owned firms rose 2.8 percent in the first eleven months of 2016 from a year earlier, aided by a raw material price rally and a construction boom, the Ministry of Finance said on Wednesday.In October the year-to-date earnings by st
Published 29 Dec, 2016 12:00am
China state-owned firms' profit growth edges higher

China state-owned firms' profit growth edges higher

Profits at China's state-owned firms rose 2.8 percent in the first eleven months of 2016 from a year earlier, aided by a raw material price rally and a construction boom, the Ministry of Finance said on Wednesday.In October the year-to-date earnings by st
Published 29 Dec, 2016 12:00am
Gulf trades mixed, second-tier Saudi petchems rise
Cotton

Gulf trades mixed, second-tier Saudi petchems rise

Major Gulf stock markets were mixed in quiet trade on Wednesday although some second-tier Saudi petrochemical stocks rose sharply after oil prices climbed overnight. The main Saudi index traded higher for much of the day but closed 0.2 percent lower as Sa
Published 29 Dec, 2016 12:00am
Australian shares jump

Australian shares jump

Australian shares closed at their highest in nearly 17 months on Wednesday, resuming their post-Trump rally after losses in the previous session as basic materials stocks led broad-based gains. The S&P/ASX 200 index ended 1 percent, or 57.05 points, highe
Published 29 Dec, 2016 12:00am
Tokyo stocks flat

Tokyo stocks flat

Tokyo shares closed flat in thin holiday trading on Wednesday, with Toshiba nose-diving more than 20 percent after the firm said it may book a massive one-time loss. The Nikkei was virtually unchanged after the Nasdaq on Tuesday rose to a record finish an
Published 29 Dec, 2016 12:00am
Wednesday's early trade: stocks fall for first time in three days

Wednesday's early trade: stocks fall for first time in three days

Wall Street lost ground for the first time in three days on Wednesday due to declines across sectors, slowing the Dow's race to 20,000. The bluechip index came within 19 points of the milestone shortly after the open, before slipping into negative territo
Published 29 Dec, 2016 12:00am
Wall Street edges up in low volume, boosted by tech shares

Wall Street edges up in low volume, boosted by tech shares

US stocks rose slightly on Tuesday, supported by upbeat consumer and housing data, with gains in technology shares lifting the Nasdaq Composite to a record close. At just over four billion shares traded, it was one of the lowest-volume sessions of 2016.
Published 29 Dec, 2016 12:00am
Hong Kong stocks up

Hong Kong stocks up

Hong Kong stocks advanced on the first trading day following the Christmas break, with a bounce in commodity prices on the mainland lifting energy and raw materials shares. The benchmark Hang Seng index added 0.8 percent, to 21,754.74 points, while the Ho
Published 29 Dec, 2016 12:00am
Treasury yields hit nearly one-week high

Treasury yields hit nearly one-week high

US Treasury yields rose on Tuesday to their highest levels in nearly a week after strong data reinforced the theme of a strengthening US economy and rising inflation. Yields on most maturities touched their highest levels of the day after the release of s
Published 29 Dec, 2016 12:00am
Treasury yields hit nearly one-week high

Treasury yields hit nearly one-week high

US Treasury yields rose on Tuesday to their highest levels in nearly a week after strong data reinforced the theme of a strengthening US economy and rising inflation. Yields on most maturities touched their highest levels of the day after the release of s
Published 29 Dec, 2016 12:00am