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Print - 2017-02-05
Dar reviews progress on LNG power plants

Dar reviews progress on LNG power plants

The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting here at the Finance Division to review the progress on the LNG Power Plants. Federal Minister for Water and Power Khwaja M. Asif was also present during the meeting. Secretary W
Published 05 Feb, 2017 12:00am
Dar reviews progress on LNG power plants

Dar reviews progress on LNG power plants

The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting here at the Finance Division to review the progress on the LNG Power Plants. Federal Minister for Water and Power Khwaja M. Asif was also present during the meeting. Secretary W
Published 05 Feb, 2017 12:00am
Statement further exposed Prime Minister, says Imran

Statement further exposed Prime Minister, says Imran

Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan said here that statement of the Qatari ambassador to Pakistan has further exposed Prime Minister Nawaz Sharif. In a statement issued here on Saturday, the PTI chief said that the Qatari ambassador has pla
Published 05 Feb, 2017 12:00am
Statement further exposed Prime Minister, says Imran

Statement further exposed Prime Minister, says Imran

Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan said here that statement of the Qatari ambassador to Pakistan has further exposed Prime Minister Nawaz Sharif. In a statement issued here on Saturday, the PTI chief said that the Qatari ambassador has pla
Published 05 Feb, 2017 12:00am
Qatar seeks to distance itself from Panamagate

Qatar seeks to distance itself from Panamagate

Ambassador Saqr bin Mubarak Al Mansouri has said that Qatari government has nothing to do with the letters of Prince Hamad bin Jassim bin Jaber Al Thani which he wrote regarding business ties with the ruling Sharif family and the copies of which were prod
Published 05 Feb, 2017 12:00am
Qatar seeks to distance itself from Panamagate

Qatar seeks to distance itself from Panamagate

Ambassador Saqr bin Mubarak Al Mansouri has said that Qatari government has nothing to do with the letters of Prince Hamad bin Jassim bin Jaber Al Thani which he wrote regarding business ties with the ruling Sharif family and the copies of which were prod
Published 05 Feb, 2017 12:00am
Holiday Notice

Holiday Notice

The offices of Business Recorder will remain closed today, Sunday (February 5) on account of KASHMIR DAY. Arrangements have, however been made to bring out the newspaper and internet edition tomorrow, Monday (February 6), as usual.
Published 05 Feb, 2017 12:00am
Holiday Notice

Holiday Notice

The offices of Business Recorder will remain closed today, Sunday (February 5) on account of KASHMIR DAY. Arrangements have, however been made to bring out the newspaper and internet edition tomorrow, Monday (February 6), as usual.
Published 05 Feb, 2017 12:00am
UN lifts sanctions on Gulbuddin Hekmatyar

UN lifts sanctions on Gulbuddin Hekmatyar

The UN Security Council has lifted sanctions on the Afghan warlord Gulbuddin Hekmatyar, previously branded "a global terrorist" and accused of war crimes. The move follows a peace deal between Hekmatyar's insurgent group Hezb-i-Islami and the Afghan gover
Published 05 Feb, 2017 12:00am
UN lifts sanctions on Gulbuddin Hekmatyar

UN lifts sanctions on Gulbuddin Hekmatyar

The UN Security Council has lifted sanctions on the Afghan warlord Gulbuddin Hekmatyar, previously branded "a global terrorist" and accused of war crimes. The move follows a peace deal between Hekmatyar's insurgent group Hezb-i-Islami and the Afghan gover
Published 05 Feb, 2017 12:00am
The Weather

The Weather

The weather report on Saturday (February 04, 2017) and the forecast for Sunday (January 08, 2017).

Published 05 Feb, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (February 04, 2017).

Published 05 Feb, 2017 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (February 04, 2017).

Published 05 Feb, 2017 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (February 04, 2017).

Published 05 Feb, 2017 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (February 04, 2017)

Published 05 Feb, 2017 12:00am
Hides and skins rates

Hides and skins rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (February 04, 2017).

Published 05 Feb, 2017 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (February 04, 2017).

Published 05 Feb, 2017 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (February 04, 2017).

Published 05 Feb, 2017 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (February 04, 2017).

Published 05 Feb, 2017 12:00am
THE RUPEE: steadier trend
Currency

THE RUPEE: steadier trend

KARACHI: Steadier trend was again seen on the money market on Saturday as the rupee managed to retain week-long levels versus the dollar, dealers said. The rupee was unchanged in relation to the dollar for buying and selling at Rs 107.70 and Rs 107.90, th
Published 05 Feb, 2017 12:00am
THE RUPEE: steadier trend
Currency

THE RUPEE: steadier trend

KARACHI: Steadier trend was again seen on the money market on Saturday as the rupee managed to retain week-long levels versus the dollar, dealers said. The rupee was unchanged in relation to the dollar for buying and selling at Rs 107.70 and Rs 107.90, th
Published 05 Feb, 2017 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (February 04, 2017).

Published 05 Feb, 2017 12:00am
Vietnam's coffee market quiet on post holiday

Vietnam's coffee market quiet on post holiday

Vietnam's coffee market was quiet on its first trading day in the Lunar New Year, with no export deals, while Indonesian exporters no longer offered new contracts due to a lack of supply, traders said on Thursday. Vietnamese robusta grade 2, 5 percent bla
Published 05 Feb, 2017 12:00am
Freight rates for large capesize dry cargo to hold steady

Freight rates for large capesize dry cargo to hold steady

Freight rates for large capesize dry cargo vessels on key Asian routes are likely to hold around the current levels next week on ample tonnage supply even as chartering activity is likely to increase following the end of the Chinese New Year holidays. "So
Published 05 Feb, 2017 12:00am
US Midwest corn bids fall

US Midwest corn bids fall

Corn spot basis bids fell at processing plants in the western half of the US Midwest on Thursday, declining by as much as 8 cents per bushel in Cedar Rapids, Iowa, following a wave of farmer sales, grain merchants said.
Published 05 Feb, 2017 12:00am
Indian rice prices rise on African demand

Indian rice prices rise on African demand

Rice prices in India advanced this week on higher demand from African buyers, while prices of the Vietnamese grain could fall soon on the prospect of rising supply as farmers start harvesting the Winter-Spring paddy later this month. India's 5 percent bro
Published 05 Feb, 2017 12:00am
European gasoline cracks weaken as US stocks rise

European gasoline cracks weaken as US stocks rise

Gasoline refining margins in northwest Europe weakened on Thursday, tracking US benchmark prices after a continued build in stocks in the New York Harbour. Gasoline stocks in independently held storage in the Amsterdam-Rotterdam-Antwerp (ARA) hub fell by
Published 05 Feb, 2017 12:00am
India's gold demand picks up as jewellers resume post-budget buying

India's gold demand picks up as jewellers resume post-budget buying

Demand for gold in India rose this week as many jewellers resumed purchases after having stayed away for a few weeks hoping for an import duty cut in the government budget. On Wednesday, the Indian government presented its budget for the 2017/18 financial
Published 05 Feb, 2017 12:00am
US natural gas futures edge up on colder weather

US natural gas futures edge up on colder weather

US natural gas futures on Thursday edge up on some mixed forecasts calling for colder weather next week, while a report showing a weekly storage draw nearly matched estimates. Longer term, however, meteorologists forecast the weather would remain mostly w
Published 05 Feb, 2017 12:00am
Russian oil output down by 100,000 bpd in January on global deal

Russian oil output down by 100,000 bpd in January on global deal

Russian oil output contracted in January by 100,000 barrels per day, led by decline at all the major domestic producers and following a global accord aimed at eliminating oversupply and supporting oil prices, Energy Ministry data showed on Thursday. Russi
Published 05 Feb, 2017 12:00am
Asian naphtha cracks fall to 2-1/2-week low

Asian naphtha cracks fall to 2-1/2-week low

Asia's naphtha cracks fell to a two-and-a-half-week low of $100.50 a tonne on Thursday on strong Brent crude and as slightly more cargoes were seen available for prompt-month loading, trade and industry sources said. "Some traders could be offering more c
Published 05 Feb, 2017 12:00am
Saudi Arabia seeks to buy 1.5 million tonnes of feed barley

Saudi Arabia seeks to buy 1.5 million tonnes of feed barley

Saudi Arabia's main state wheat-buying agency, the Saudi Grains Organization (SAGO), has issued an international tender to purchase 1.5 million tonnes of animal feed barley, it said on Thursday. The tender deadline is February 3 and the result is expected
Published 05 Feb, 2017 12:00am
US FOB Gulf corn offers weaker

US FOB Gulf corn offers weaker

Export premiums for corn shipped from the US Gulf Coast were mostly steady to weak on Thursday as increased farmer selling this week boosted supplies available to exporters and weighed down CIF barge basis values, traders said. Demand for corn was moderat
Published 05 Feb, 2017 12:00am
Palm oil firmer on European vegoils market

Palm oil firmer on European vegoils market

Palm oil on the European vegetable oils market firmed on Thursday on the back of improved Malaysian palm oil exports, which lifted palm oil futures. Asking prices for palm oil were mostly offered between unchanged and $7.50 a tonne up from Wednesday.
Published 05 Feb, 2017 12:00am
India's 2016 Iran oil imports hit record high

India's 2016 Iran oil imports hit record high

India's annual oil imports from Iran surged to a record high in 2016 as some refiners resumed purchases after the lifting of sanctions against Tehran, according to ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts. The
Published 05 Feb, 2017 12:00am
EU wheat boosted by strong exports

EU wheat boosted by strong exports

European wheat prices edged higher on Thursday supported by strong exports even though the euro was firm against the dollar, European traders said. March milling wheat on Paris-based Euronext was 0.44 percent higher by 1704 GMT at 169.75 euros a tonne. In
Published 05 Feb, 2017 12:00am
Cautious buying of cotton on modest trade activity
Cotton

Cautious buying of cotton on modest trade activity

Cautious buying by mills and spinners witnessed on the cotton market on Saturday as the ginners were not keen to oblige buyers on expectations of further increase in prices, dealers said. The official spot rate was unmoved at Rs 6700, dealers said. In Sin
Published 05 Feb, 2017 12:00am
Rebel taxes and seizures drive hungry children out of pre-famine Somalia

Rebel taxes and seizures drive hungry children out of pre-famine Somalia

Thousands of malnourished Somali women and children are fleeing into Ethiopia to escape Islamist militants who are taxing them and seizing their food, animals and land, the United Nations said on Friday, amid fears of renewed famine. Arrivals into Ethiopi
Published 05 Feb, 2017 12:00am
Peugeot to assemble two car models in Kenya

Peugeot to assemble two car models in Kenya

France's PSA Group, the maker of Peugeot, Citroen and DS cars, said on Saturday it had signed a contract to start assembling two car models in Kenya. PSA, which wants to reduce its dependence on European sales, will assemble the Peugeot 508 and 3008 model
Published 05 Feb, 2017 12:00am
Alibaba Group expands presence in Australia, New Zealand

Alibaba Group expands presence in Australia, New Zealand

Chinese online retailer Alibaba Group opened its Australian and New Zealand headquarters in Melbourne on Saturday, its first expansion in the region as it seeks to tap growing global demand for products from the two countries. The group's billionaire foun
Published 05 Feb, 2017 12:00am
Shenzhen new home sales fall 23.6 percent

Shenzhen new home sales fall 23.6 percent

New home sales in Shenzhen, one of China's hottest residential markets, slumped 23.6 percent by volume in January compared with a month earlier, the official Xinhua news agency reported on Saturday, citing local government data. Xinhua said homes sales in
Published 05 Feb, 2017 12:00am
China announces first strategic plan for territory development

China announces first strategic plan for territory development

China on Saturday issued its first strategic plan for territory development and preservation, outlining the protection of arable land reserves and islands, the official Xinhua news agency reported. Issued by the State Council, or Cabinet, the plan demands
Published 05 Feb, 2017 12:00am
Sri Lanka eyes China free trade deal this year, PM to visit in May

Sri Lanka eyes China free trade deal this year, PM to visit in May

Sri Lanka aims to finalise a free trade agreement with China this year and the country's prime minister will visit Beijing in May, the Sri Lankan ambassador said on Saturday, amid rising concern in the South Asian nation about Chinese investment.
Published 05 Feb, 2017 12:00am
Honda upgrades full-year outlook on weak yen
Currency

Honda upgrades full-year outlook on weak yen

Honda on Friday revised up its full-year outlook thanks to a weaker yen but it analysts warned of an uncertain outlook for the auto industry following Donald Trump's drive to support US firms over foreign imports. The company forecast net profit to hit 54
Published 05 Feb, 2017 12:00am
Australian government supports public funding for 'clean coal'

Australian government supports public funding for 'clean coal'

Australia's resources minister said the government is considering providing public funds for the construction of new "clean coal" power stations in the country's north, The Australian newspaper reported on Saturday. Matthew Canavan said he was open to usi
Published 05 Feb, 2017 12:00am
Takata taps KSS as final bidder for restructuring deal

Takata taps KSS as final bidder for restructuring deal

Takata Corp has selected Chinese-owned Key Safety Systems (KSS), a US-based auto parts supplier, as the final bidder to extend financial support for the Japanese airbag maker, three sources with knowledge of the process have told Reuters. The steering com
Published 05 Feb, 2017 12:00am
Mexico, Turkey speed up free trade negotiations

Mexico, Turkey speed up free trade negotiations

Mexico and Turkey agreed on Friday to speed up negotiations for a free trade agreement in the wake of protectionist threats from US President Donald Trump. Mexican Foreign Minister Luis Videgaray and his visiting Turkish counterpart Mevlut Cavusoglu said
Published 05 Feb, 2017 12:00am
Euro exchange rate is too weak for Germany: Schaeuble

Euro exchange rate is too weak for Germany: Schaeuble

The euro's exchange rate is too low for Germany and the European Central Bank's expansive monetary policy has boosted the German economy's export surplus, Finance Minister Wolfgang Schaeuble said in a newspaper interview. Schaeuble made the comments after
Published 05 Feb, 2017 12:00am
Germany's Schaeuble wants 'reasonable' Brexit deal

Germany's Schaeuble wants 'reasonable' Brexit deal

The City of London offers financial services that benefit Europe as a whole and the European Union should recognise that in a "reasonable" Brexit deal with Britain, German Finance Minister Wolfgang Schaeuble said in a newspaper interview. "We don't want t
Published 05 Feb, 2017 12:00am
Merkel hopes for 'fair' EU-Mercosur trade deal

Merkel hopes for 'fair' EU-Mercosur trade deal

German Chancellor Angela Merkel said Saturday that she would work toward securing a "fair" free-trade deal between the EU and Mercosur, the South American economic bloc. Her comments, posted in her weekly video message, came ahead of a visit by Uruguay's
Published 05 Feb, 2017 12:00am
Dakota Access Pipeline to start in second quarter

Dakota Access Pipeline to start in second quarter

The chief executive of Phillips 66 said on Friday he expects the Dakota Access Pipeline to start operations in the second quarter, even though the project - which has sparked protests by Native Americans and environmentalists - is still in the midst of le
Published 05 Feb, 2017 12:00am
Turkey's economic growth to be below potential in 2016 and 2017: IMF

Turkey's economic growth to be below potential in 2016 and 2017: IMF

Turkey's growth will be below potential in 2016 and this year, the International Monetary Fund said on Friday, citing political uncertainty, strained relations with Europe and insecurity at home and in the region. The IMF said growth in 2016 would be 2.7
Published 05 Feb, 2017 12:00am
Turkey's economic growth to be below potential in 2016 and 2017: IMF

Turkey's economic growth to be below potential in 2016 and 2017: IMF

Turkey's growth will be below potential in 2016 and this year, the International Monetary Fund said on Friday, citing political uncertainty, strained relations with Europe and insecurity at home and in the region. The IMF said growth in 2016 would be 2.7
Published 05 Feb, 2017 12:00am
Divisions in Turkey's economic team hamper response to lira slide

Divisions in Turkey's economic team hamper response to lira slide

Divisions among Turkey's economic policy makers, which have hindered the central bank and unnerved investors, are unlikely to abate before an April referendum on granting the stronger powers that President Tayyip Erdogan has long sought. The lira has been
Published 05 Feb, 2017 12:00am
Sharp net loss shrinks more than 60 percent

Sharp net loss shrinks more than 60 percent

Sharp said Friday its nine-month net loss shrank by more than 60 percent as it upgraded its full-year forecasts on structural reforms and its takeover by Hon Hai. The Japanese industrial mainstay, pummelled by huge losses and mounting debts, was formally
Published 05 Feb, 2017 12:00am
Sharp net loss shrinks more than 60 percent

Sharp net loss shrinks more than 60 percent

Sharp said Friday its nine-month net loss shrank by more than 60 percent as it upgraded its full-year forecasts on structural reforms and its takeover by Hon Hai. The Japanese industrial mainstay, pummelled by huge losses and mounting debts, was formally
Published 05 Feb, 2017 12:00am
Volkswagen patriarch says ex-CEO knew about emissions cheating

Volkswagen patriarch says ex-CEO knew about emissions cheating

Volkswagen's former supervisory board chief has told German investigators that ex-CEO Martin Winterkorn knew about the "dieselgate" emissions cheating scam well before the scandal broke, news weekly Der Spiegel reported Friday. "Ferdinand Piech has incrim
Published 05 Feb, 2017 12:00am
Tanzania hikes fuel prices
Currency

Tanzania hikes fuel prices

Tanzania's energy regulator raised maximum fuel prices on Saturday, citing higher international costs for crude and refined products and a weaker local currency. Fuel prices weigh heavily on the inflation rate in the east African country, which rose to 5.
Published 05 Feb, 2017 12:00am
Amazon profit jumps

Amazon profit jumps

Amazon reported on Thursday that profit leapt during the year-end holiday shopping season, but the tech giant saw shares sink as revenue fell shy of high expectations. While revenue rose to $43.7 billion from $35.7 billion in a similar year-over-year comp
Published 05 Feb, 2017 12:00am
Amazon profit jumps

Amazon profit jumps

Amazon reported on Thursday that profit leapt during the year-end holiday shopping season, but the tech giant saw shares sink as revenue fell shy of high expectations. While revenue rose to $43.7 billion from $35.7 billion in a similar year-over-year comp
Published 05 Feb, 2017 12:00am
Europe gets creative to win banks after Brexit

Europe gets creative to win banks after Brexit

Regulators in European countries competing for post-Brexit banking business are offering London-based banks a range of short-term workarounds to help them relocate, bankers, regulators and lawyers say. Global banks have warned they might have to move thei
Published 05 Feb, 2017 12:00am
Nigeria asks Goldman, Stanbic to help sell debut 'diaspora bond'

Nigeria asks Goldman, Stanbic to help sell debut 'diaspora bond'

Nigeria has asked Goldman Sachs and Stanbic IBTC Bank, the local unit of South Africa's Standard Bank, to advise it on the sale of a debut "diaspora bond" targeted at Nigerians living abroad, Stanbic said on Monday. Africa's biggest economy first announce
Published 05 Feb, 2017 12:00am
Nigeria asks Goldman, Stanbic to help sell debut 'diaspora bond'

Nigeria asks Goldman, Stanbic to help sell debut 'diaspora bond'

Nigeria has asked Goldman Sachs and Stanbic IBTC Bank, the local unit of South Africa's Standard Bank, to advise it on the sale of a debut "diaspora bond" targeted at Nigerians living abroad, Stanbic said on Monday. Africa's biggest economy first announce
Published 05 Feb, 2017 12:00am
Mideast funds positive on bonds; bullish on stocks but split on Kuwait

Mideast funds positive on bonds; bullish on stocks but split on Kuwait

Middle East fund managers are strongly positive toward fixed income in the region because of expanding international bond issuance and they also plan to increase their equity holdings, a monthly Reuters poll found. The poll of 13 leading fund managers, co
Published 05 Feb, 2017 12:00am
Mideast funds positive on bonds; bullish on stocks but split on Kuwait

Mideast funds positive on bonds; bullish on stocks but split on Kuwait

Middle East fund managers are strongly positive toward fixed income in the region because of expanding international bond issuance and they also plan to increase their equity holdings, a monthly Reuters poll found. The poll of 13 leading fund managers, co
Published 05 Feb, 2017 12:00am
Nasdaq to close NLX trading venue, reports Q4 loss

Nasdaq to close NLX trading venue, reports Q4 loss

Nasdaq Inc said on Tuesday it would wind down its struggling London-based interest rate derivatives exchange, NLX, as unrelated one-time costs pulled the transatlantic exchange operator to a fourth-quarter loss. Nasdaq started NLX in 2013 to take on Inter
Published 05 Feb, 2017 12:00am
Global bond issuance volumes smash record

Global bond issuance volumes smash record

Global bond issuance volumes hit a new high in January as borrowers sprinted out of the blocks to raise funds ahead of looming event and market risks. Governments, corporates and financial institutions raised US$530.84bn in the first month of 2017, accord
Published 05 Feb, 2017 12:00am
Global bond issuance volumes smash record

Global bond issuance volumes smash record

Global bond issuance volumes hit a new high in January as borrowers sprinted out of the blocks to raise funds ahead of looming event and market risks. Governments, corporates and financial institutions raised US$530.84bn in the first month of 2017, accord
Published 05 Feb, 2017 12:00am
Morocco may issue $1 billion of international bond issues

Morocco may issue $1 billion of international bond issues

Morocco is considering tapping international debt markets in 2017 with about $1 billion of bond issues, a senior official in the finance ministry said. The North African kingdom needs around $3 billion in financing this year to plug a budget deficit expec
Published 05 Feb, 2017 12:00am
Morocco may issue $1 billion of international bond issues

Morocco may issue $1 billion of international bond issues

Morocco is considering tapping international debt markets in 2017 with about $1 billion of bond issues, a senior official in the finance ministry said. The North African kingdom needs around $3 billion in financing this year to plug a budget deficit expec
Published 05 Feb, 2017 12:00am
TSX gains as banks benefit from Trump move

TSX gains as banks benefit from Trump move

Canada's main stock index gained on Friday as heavyweight banks got a boost from US President Donald Trump's move to scale back financial regulations, while department store operator Hudson's Bay Co jumped on news it is eyeing larger US retailer Macy's. T
Published 05 Feb, 2017 12:00am
Snapchat parent Snap to raise up to $3 billion in IPO

Snapchat parent Snap to raise up to $3 billion in IPO

The parent of the fast-growing social network Snapchat filed public documents for a share offering Thursday, seeking to raise up to $3 billion in a keenly anticipated Wall Street debut. California-based Snap Inc, which had earlier filed confidential docum
Published 05 Feb, 2017 12:00am
Snapchat parent Snap to raise up to $3 billion in IPO

Snapchat parent Snap to raise up to $3 billion in IPO

The parent of the fast-growing social network Snapchat filed public documents for a share offering Thursday, seeking to raise up to $3 billion in a keenly anticipated Wall Street debut. California-based Snap Inc, which had earlier filed confidential docum
Published 05 Feb, 2017 12:00am
US funds recommend cutting equity allocations in January

US funds recommend cutting equity allocations in January

US funds recommended trimming equity allocations in January as they wait for President Donald Trump to announce the infrastructure spending and tax cuts he promised during his election campaign. Following Trump's shock victory in the race for the White Ho
Published 05 Feb, 2017 12:00am
US funds recommend cutting equity allocations in January

US funds recommend cutting equity allocations in January

US funds recommended trimming equity allocations in January as they wait for President Donald Trump to announce the infrastructure spending and tax cuts he promised during his election campaign. Following Trump's shock victory in the race for the White Ho
Published 05 Feb, 2017 12:00am
Norway keeps crown purchases at NOK 1 billion per day
Currency

Norway keeps crown purchases at NOK 1 billion per day

Norway's central bank will keep unchanged its daily sale of foreign currency in February, it said on Tuesday. The bank will sell foreign exchange equivalent to 1.0 billion Norwegian crowns per day. In January the level was raised to 1.0 billion from 900 m
Published 05 Feb, 2017 12:00am
Norway keeps crown purchases at NOK 1 billion per day
Currency

Norway keeps crown purchases at NOK 1 billion per day

Norway's central bank will keep unchanged its daily sale of foreign currency in February, it said on Tuesday. The bank will sell foreign exchange equivalent to 1.0 billion Norwegian crowns per day. In January the level was raised to 1.0 billion from 900 m
Published 05 Feb, 2017 12:00am
Banks, jobs data send Wall Street higher

Banks, jobs data send Wall Street higher

US stocks climbed on Friday, with the S&P 500 closing just short of a record high, boosted by gains in financial shares as President Donald Trump moved ahead with deregulation action and by a strong payrolls report. The S&P financial sector jumped 2 perce
Published 05 Feb, 2017 12:00am
Serbia to sell euros, blame dinar weakening on seasonal demand, Fed

Serbia to sell euros, blame dinar weakening on seasonal demand, Fed

Serbia's central bank intervened in the foreign exchange market to buy euros again on Thursday, dealers said, and its central bank governor was quoted as blaming dinar weakness on season factors and the US Federal Reserve. The dinar has lost around 0.4 pe
Published 05 Feb, 2017 12:00am
Dollar inches lower as data shows weak US wage growth

Dollar inches lower as data shows weak US wage growth

The dollar fell on Friday in choppy trading after the US employment report showed a smaller-than-expected rise in wages last month despite strong jobs gains, likely prompting the Federal Reserve to be less aggressive in raising interest rates this year. T
Published 05 Feb, 2017 12:00am
Strong Danish crown to keep central bank alert in 2017
Currency

Strong Danish crown to keep central bank alert in 2017

Denmark's central bank will remain on high alert in 2017 to defend its safe-haven currency, which is expected to face more upward pressure from booming US investments and political risks in Europe, the country's biggest bank said on Tuesday. The Danish cr
Published 05 Feb, 2017 12:00am
US dollar longs fall to lowest since late October
Currency

US dollar longs fall to lowest since late October

Speculators reduced bullish bets on the US dollar for a fourth straight week, as net longs fell to their lowest since late October, according to data from the Commodity Futures Trading Commission released on Friday and calculations by Reuters. The value o
Published 05 Feb, 2017 12:00am
Franc breakout points to more tolerant SNB
Currency

Franc breakout points to more tolerant SNB

Daily surges in the past week have taken the Swiss franc to its highest against the euro since last year's vote by Britain to leave the European Union, encouraging German and Swiss bank speculation that the currency will be allowed to rise further. As thi
Published 05 Feb, 2017 12:00am
Czech crown cap seen ending in Q2 despite central bank caution
Currency

Czech crown cap seen ending in Q2 despite central bank caution

The Czech central bank will exit its cap on currency strength in the second quarter, a Reuters poll showed on Wednesday, despite rate setters' signals they would not rush even as investors increasingly pile into crown markets. The central bank meets for a
Published 05 Feb, 2017 12:00am
Canadian dollar pares losses on US jobs data
Currency

Canadian dollar pares losses on US jobs data

The Canadian dollar weakened slightly against its US counterpart on Friday but clawed back some losses after US jobs data showed tepid wage growth, while the loonie ended higher for the second straight week. US job growth surged more than expected in Janu
Published 05 Feb, 2017 12:00am
High-profile Spain trial stokes Catalan independence fervour

High-profile Spain trial stokes Catalan independence fervour

Separatists in Catalonia plan to come out in force Monday when the Spanish region's former leader, Artur Mas, stands trial over a non-binding independence referendum he held, further straining ties with Madrid. Supporters of independence for the wealthy,
Published 05 Feb, 2017 12:00am
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