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Nov 26, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-08-03
US Plains HRW wheat bids flat

US Plains HRW wheat bids flat

Spot basis bids for hard red winter (HRW) wheat in the southern US Plains were unchanged on Tuesday, with US Gulf bids weaker as harvesting draws closer to completion, grain merchants said. Monday afternoon's weekly US Department of Agriculture weekly cro
Published 03 Aug, 2017 12:00am
Asian naphtha crack rises over three-month high

Asian naphtha crack rises over three-month high

Asia's naphtha crack rose for the fifth straight session on Tuesday to reach slightly over a three-month high of $80.05 a tonne while gasoline crack was at seventh-session high of $11.49 a barrel supported by a refinery outage in the Netherlands. Most of
Published 03 Aug, 2017 12:00am
MUFG Q1 profit surges on sales of equity holdings, lower bad loan costs

MUFG Q1 profit surges on sales of equity holdings, lower bad loan costs

Mitsubishi UFJ Financial Group (MUFG), Japan's biggest lender, reported a 53 percent rise in quarterly profit on gains from sales of its equity holdings and smaller bad loan costs, even as its lending business weakened. In doing so, it joined the country'
Published 03 Aug, 2017 12:00am
MUFG Q1 profit surges on sales of equity holdings, lower bad loan costs

MUFG Q1 profit surges on sales of equity holdings, lower bad loan costs

Mitsubishi UFJ Financial Group (MUFG), Japan's biggest lender, reported a 53 percent rise in quarterly profit on gains from sales of its equity holdings and smaller bad loan costs, even as its lending business weakened. In doing so, it joined the country'
Published 03 Aug, 2017 12:00am
France's PSA completes Opel, Vauxhall takeover

France's PSA completes Opel, Vauxhall takeover

French automaker PSA said Tuesday it had completed, ahead of schedule, the takeover of rival brands Opel and Vauxhall which makes the group Europe's second-biggest carmaker after Volkswagen. PSA - which owns the Peugeot, Citroen and DS brands - agreed in
Published 03 Aug, 2017 12:00am
Australia axes Asian-led Gold Coast mega-casino plan

Australia axes Asian-led Gold Coast mega-casino plan

A Chinese-Australian investment consortium's plans to build a multi-billion-dollar mega-casino on the Gold Coast were canned by the state government Tuesday, following an outcry from locals over the size of the complex. The ASF Consortium, comprising a Sy
Published 03 Aug, 2017 12:00am
Thomson Reuters' Q2 profit tops estimates
Exchange

Thomson Reuters' Q2 profit tops estimates

Thomson Reuters Corp on Tuesday reported higher-than-expected second-quarter earnings, helped by demand for market data, and increased its full-year forecast for margins and adjusted earnings per share. The company's shares hit an all-time high on the New
Published 03 Aug, 2017 12:00am
Thomson Reuters' Q2 profit tops estimates
Exchange

Thomson Reuters' Q2 profit tops estimates

Thomson Reuters Corp on Tuesday reported higher-than-expected second-quarter earnings, helped by demand for market data, and increased its full-year forecast for margins and adjusted earnings per share. The company's shares hit an all-time high on the New
Published 03 Aug, 2017 12:00am
Rio Tinto doubles H1 earnings, adds $1 billion share buyback

Rio Tinto doubles H1 earnings, adds $1 billion share buyback

Global miner Rio Tinto more than doubled its first-half profit and rewarded shareholders with a record interim dividend and a further $1 billion in share buybacks, citing strong demand for industrial commodities. Underlying earnings for the six months to
Published 03 Aug, 2017 12:00am
Rio Tinto doubles H1 earnings, adds $1 billion share buyback

Rio Tinto doubles H1 earnings, adds $1 billion share buyback

Global miner Rio Tinto more than doubled its first-half profit and rewarded shareholders with a record interim dividend and a further $1 billion in share buybacks, citing strong demand for industrial commodities. Underlying earnings for the six months to
Published 03 Aug, 2017 12:00am
Canada's WestJet Airlines smashes profit estimates

Canada's WestJet Airlines smashes profit estimates

Canada's WestJet Airlines Ltd reported a quarterly profit that handily beat Street expectations as it flew more passengers and managed costs effectively. The company, which said in April that it plans to launch an ultra-low-cost carrier (ULCC) in Canada,
Published 03 Aug, 2017 12:00am
Canada's WestJet Airlines smashes profit estimates

Canada's WestJet Airlines smashes profit estimates

Canada's WestJet Airlines Ltd reported a quarterly profit that handily beat Street expectations as it flew more passengers and managed costs effectively. The company, which said in April that it plans to launch an ultra-low-cost carrier (ULCC) in Canada,
Published 03 Aug, 2017 12:00am
China central bank finds 40 banks in violation of interbank rules

China central bank finds 40 banks in violation of interbank rules

China's central bank has found 40 banks in violation of interbank account regulations and have ordered them to rectify the problem within three to six months, financial magazine Caixin reported on Tuesday, citing a document. Large state-owned lenders, inc
Published 03 Aug, 2017 12:00am
Mitsubishi Corp Q1 net profit rises 17 percent

Mitsubishi Corp Q1 net profit rises 17 percent

Japanese commodities trading giant Mitsubishi Corp said on Wednesday its first-quarter net profit grew 17 percent as higher coking coal prices boosted earnings. Mitsubishi, the biggest of Japan's clutch of influential trading houses by assets, said net pr
Published 03 Aug, 2017 12:00am
Mitsubishi Corp Q1 net profit rises 17 percent

Mitsubishi Corp Q1 net profit rises 17 percent

Japanese commodities trading giant Mitsubishi Corp said on Wednesday its first-quarter net profit grew 17 percent as higher coking coal prices boosted earnings. Mitsubishi, the biggest of Japan's clutch of influential trading houses by assets, said net pr
Published 03 Aug, 2017 12:00am
American car makers struggle to lure US buyers in July

American car makers struggle to lure US buyers in July

American consumers' appetite for US car brands eased significantly in July, as the industry continued to slow from last year's record-setting pace, according to sales figures released Tuesday. All three Detroit carmakers reported steep overall declines, e
Published 03 Aug, 2017 12:00am
I didn't make decisions, Samsung heir tells corruption trial

I didn't make decisions, Samsung heir tells corruption trial

The heir to the world's top smartphone maker Samsung had no role in decision-making at the wider group, he told a court Wednesday in his trial for corruption over the scandal that brought down South Korea's last president. It was the first time Lee Jae-Yo
Published 03 Aug, 2017 12:00am
Libya settlement cuts into Societe Generale profit
Exchange

Libya settlement cuts into Societe Generale profit

French bank Societe Generale on Wednesday said its net profit tumbled by over a quarter in the second quarter of this year due to the cost of settling a lawsuit with Libya's sovereign wealth fund. While it had already set aside some funds, Societe General
Published 03 Aug, 2017 12:00am
Libya settlement cuts into Societe Generale profit
Exchange

Libya settlement cuts into Societe Generale profit

French bank Societe Generale on Wednesday said its net profit tumbled by over a quarter in the second quarter of this year due to the cost of settling a lawsuit with Libya's sovereign wealth fund. While it had already set aside some funds, Societe General
Published 03 Aug, 2017 12:00am
StanChart shares slide on lack of dividend, revenue recovery

StanChart shares slide on lack of dividend, revenue recovery

Standard Chartered reported a 93 percent rise in half-year underlying pretax profit to $1.8 billion, but the bank's shares fell as it failed to resume dividends, highlighting the scale of the challenge it faces to increase revenues. The profits jumped par
Published 03 Aug, 2017 12:00am
StanChart shares slide on lack of dividend, revenue recovery

StanChart shares slide on lack of dividend, revenue recovery

Standard Chartered reported a 93 percent rise in half-year underlying pretax profit to $1.8 billion, but the bank's shares fell as it failed to resume dividends, highlighting the scale of the challenge it faces to increase revenues. The profits jumped par
Published 03 Aug, 2017 12:00am
Lufthansa profits soar in Q2

Lufthansa profits soar in Q2

German airline group Lufthansa reported zooming profits in the second quarter Wednesday, as increased passenger demand and lower fuel costs lent tailwinds to its business. Net profit between April and June stood at 740 million euros ($875 million), up 69.
Published 03 Aug, 2017 12:00am
Lufthansa profits soar in Q2

Lufthansa profits soar in Q2

German airline group Lufthansa reported zooming profits in the second quarter Wednesday, as increased passenger demand and lower fuel costs lent tailwinds to its business. Net profit between April and June stood at 740 million euros ($875 million), up 69.
Published 03 Aug, 2017 12:00am
BAE beats first-half earnings forecasts

BAE beats first-half earnings forecasts

BAE Systems reported a better-than-expected 11 percent rise in first-half earnings of 945 million pounds ($1.25 billion) on Wednesday, and said it was sticking to its full-year target despite a softening in demand in cyber & intelligence.
Published 03 Aug, 2017 12:00am
BAE beats first-half earnings forecasts

BAE beats first-half earnings forecasts

BAE Systems reported a better-than-expected 11 percent rise in first-half earnings of 945 million pounds ($1.25 billion) on Wednesday, and said it was sticking to its full-year target despite a softening in demand in cyber & intelligence.
Published 03 Aug, 2017 12:00am
Oman takes $3.55 billion China loan to cover budget deficit

Oman takes $3.55 billion China loan to cover budget deficit

Oman on Wednesday announced it has taken out a $3.55-billion loan from Chinese banks to cover its budget deficit for the current fiscal year. The sultanate had originally planned to raise $2 billion on the Chinese market but raised the amount because of s
Published 03 Aug, 2017 12:00am
Commerzbank slips to Q2 loss

Commerzbank slips to Q2 loss

Germany's Commerzbank swung to a net loss in the second quarter due to weak markets and job-related restructuring charges but said it expected a small net profit for the full year. The 637 million-euro ($754.34 million) net loss was bigger than the 584 mi
Published 03 Aug, 2017 12:00am
Commerzbank slips to Q2 loss

Commerzbank slips to Q2 loss

Germany's Commerzbank swung to a net loss in the second quarter due to weak markets and job-related restructuring charges but said it expected a small net profit for the full year. The 637 million-euro ($754.34 million) net loss was bigger than the 584 mi
Published 03 Aug, 2017 12:00am
Apple beats profit Estimates

Apple beats profit Estimates

Apple on Tuesday reported stronger-than-expected results for the past quarter, with higher revenues and profits, delivering a boost to its share price. Profit climbed 12 percent to $8.7 billion, and revenue rose seven percent to $45.4 billion, with the Ca
Published 03 Aug, 2017 12:00am
Apple beats profit Estimates

Apple beats profit Estimates

Apple on Tuesday reported stronger-than-expected results for the past quarter, with higher revenues and profits, delivering a boost to its share price. Profit climbed 12 percent to $8.7 billion, and revenue rose seven percent to $45.4 billion, with the Ca
Published 03 Aug, 2017 12:00am
Mazda Q1 profit drops

Mazda Q1 profit drops

Japan's Mazda Motor Corp on Wednesday posted a 24 percent drop in its first-quarter profit, hurt by a slump in sedan sales in the United States where consumers continue to opt for SUVs and other larger models. Operating profit at Japan's sixth-largest aut
Published 03 Aug, 2017 12:00am
Mazda Q1 profit drops

Mazda Q1 profit drops

Japan's Mazda Motor Corp on Wednesday posted a 24 percent drop in its first-quarter profit, hurt by a slump in sedan sales in the United States where consumers continue to opt for SUVs and other larger models. Operating profit at Japan's sixth-largest aut
Published 03 Aug, 2017 12:00am
New Zealand job growth falls in Q2

New Zealand job growth falls in Q2

Job creation in New Zealand unexpectedly slipped in the second quarter and wage growth loitered, official data showed on Wednesday, adding weight to the prospect of the central bank keeping rates on hold at record lows for years. The job creation rate fel
Published 03 Aug, 2017 12:00am
Sri Lanka to divest luxury hotel firms after port sale

Sri Lanka to divest luxury hotel firms after port sale

Sri Lanka Wednesday announced plans to sell off two state-owned luxury hotel companies following its billion-dollar privatisation of a loss-making port. Government spokesman Rajitha Senaratne said ministers approved the seeking of bids for a 51 percent st
Published 03 Aug, 2017 12:00am
Gulf markets mixed; crude oil below $52 hits Saudi petchems

Gulf markets mixed; crude oil below $52 hits Saudi petchems

Stock markets in the Gulf were mixed on Wednesday, with Saudi Arabia dragged down by a drop in crude oil prices while blue chips led gains the United Arab Emirates and Qatar higher. Brent crude futures lost 1.7 percent on Tuesday and traded below $52 a ba
Published 03 Aug, 2017 12:00am
Tokyo stocks higher on Apple boost

Tokyo stocks higher on Apple boost

Tokyo stocks closed higher Wednesday with investor sentiment buoyed by the Dow's fifth straight record close and better-than-expected results from Apple. In New York the blue-chip Dow Jones Industrial Average had finished at its fifth straight all-time hi
Published 03 Aug, 2017 12:00am
Dow ascends to record high and nears 22,000
Exchange

Dow ascends to record high and nears 22,000

The Dow Jones Industrial Average racked up a fifth straight record high on Tuesday and neared the 22,000 mark, powered by Goldman Sachs, J.P Morgan Chase and other banks. Apple rose 0.89 percent as Wall Street awaited the largest publicly listed company's
Published 03 Aug, 2017 12:00am
Sri Lankan shares hit 13-week low

Sri Lankan shares hit 13-week low

Sri Lankan shares fell for a fifth straight session on Wednesday to their lowest close in 13 weeks, led by losses in beverage and diversified stocks. The Colombo stock index fell 0.29 percent to 6,585.53, its lowest close since May 3. The bourse fell 1.6
Published 03 Aug, 2017 12:00am
Hong Kong stocks gain for third day

Hong Kong stocks gain for third day

Hong Kong shares rose for a third straight session on Wednesday, as investors continued to chase mainland financials and materials firms. The Hang Seng index finished 0.2 percent higher at 27,607.38 points, while the China Enterprises Index gained 0.3 per
Published 03 Aug, 2017 12:00am
Treasury yields fall

Treasury yields fall

US Treasury yields fell on Tuesday as weak auto sales raised concerns about slow economic growth, before Friday's highly anticipated employment report for July. US carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets i
Published 03 Aug, 2017 12:00am
Treasury yields fall

Treasury yields fall

US Treasury yields fell on Tuesday as weak auto sales raised concerns about slow economic growth, before Friday's highly anticipated employment report for July. US carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets i
Published 03 Aug, 2017 12:00am
Nigerian stocks recover

Nigerian stocks recover

Nigerian stocks recovered to end slightly higher on Wednesday, after the country's biggest listed firm Dangote Cement recouped early losses. Stocks had earlier fallen 1.09 percent, dragged down by a 5 percent drop in Dangote Cement as traders booked profi
Published 03 Aug, 2017 12:00am
Indian shares lower

Indian shares lower

Indian shares ended lower on Wednesday, retreating from a record high hit in early trade, led by losses in IT stocks and financials. The nation's central bank cut its main policy rate by 25 basis points to a more than 6-1/2-year low, saying a lower inflat
Published 03 Aug, 2017 12:00am
China stocks slip

China stocks slip

China's stocks slipped on Wednesday, with continued strength in materials shares offset by weakness in small-cap firms. The blue-chip CSI300 index fell 0.3 percent, to 3,760.85, while the Shanghai Composite Index lost 0.2 percent to 3,285.06 points. The t
Published 03 Aug, 2017 12:00am
Cyclicals slump drags European shares down

Cyclicals slump drags European shares down

Miners and banks led a sell-off among cyclical sectors weighing on the European market on Wednesday, while semiconductor firms' shares were up. The pan-European STOXX 600 index fell 0.5 percent while euro zone bluechips fell 0.6 percent. Britain's FTSE 10
Published 03 Aug, 2017 12:00am
Australian shares fall, NZ edges up

Australian shares fall, NZ edges up

Australian shares fell for the first day in three on Wednesday as falling commodity prices dragged down resources shares. The S&P/ASX 200 index ended down 28.17 points, or 0.5 percent at 5,744.2, giving back half of its gains on Tuesday. Mining giant BHP
Published 03 Aug, 2017 12:00am
Most SE Asian stocks up

Most SE Asian stocks up

Most Southeast Asian stock markets ended higher on Wednesday tracking mild gains in Asian shares, while Philippines fell for a third straight session on disappointing second-quarter results. MSCI's broadest index of Asia-Pacific shares outside Japan was s
Published 03 Aug, 2017 12:00am
Standard Chartered, Rio Tinto weigh on FTSE as results disappoint

Standard Chartered, Rio Tinto weigh on FTSE as results disappoint

Britain's major share index slipped on Wednesday as basic resources and financial stocks weighed on another full day of earnings with Standard Chartered and Rio Tinto among the large companies reporting disappointing results. The FTSE 100 dipped 0.3 perce
Published 03 Aug, 2017 12:00am
Euro hits 2-1/2 years high in Europe as warning signs grow

Euro hits 2-1/2 years high in Europe as warning signs grow

The euro climbed to a fresh 2-1/2 year high against the dollar on Wednesday as investors added long bets in the single currency though some analysts advised caution as some signals such as interest rate differentials were flashing a warning sign. While fe
Published 03 Aug, 2017 12:00am
Early trade in New York: Dollar falls against euro

Early trade in New York: Dollar falls against euro

The US dollar hit its lowest level against the euro in more than 2-1/2 years on Wednesday on doubts about another Federal Reserve interest rate increase this year and expectations for European Central Bank hawkishness. The euro hit $1.1868, its highest le
Published 03 Aug, 2017 12:00am
Dollar index hits 15-month low in New York

Dollar index hits 15-month low in New York

The US dollar briefly touched a 15-month low against a basket of major currencies on Tuesday on political turmoil in Washington and weak US economic data that kept the Federal Reserve's policy outlook uncertain. The dollar was last higher on the day as in
Published 03 Aug, 2017 12:00am
China's yuan pulls back from 9-1/2-month high

China's yuan pulls back from 9-1/2-month high

China's yuan pulled back from its strongest in nine-and-a-half months on Wednesday, after the central bank lowered its official guidance following a modest bounce in the dollar. The People's Bank of China set the midpoint rate at 6.7205 per dollar prior t
Published 03 Aug, 2017 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Inter-bank buy/sell rates for the taka against the dollar on Wednesday. 80.67-80.68 (previous 80.66-80.68).
Published 03 Aug, 2017 12:00am
Sri Lankan rupee steadies

Sri Lankan rupee steadies

The Sri Lankan rupee ended steady on Wednesday as greenback selling by exporters offset importer demand for the US currency, dealers said. The spot rupee ended little changed at 153.45/53 per dollar, compared with Tuesday's close of 153.45/50.
Published 03 Aug, 2017 12:00am
Weak oil drags on Asia forex

Weak oil drags on Asia forex

Most emerging Asian currencies eased on Wednesday, pressured by a fall in global oil prices, while the Indian rupee was little changed despite expectations that the country's central bank will cut interest rates later in the day. With inflation cooling sh
Published 03 Aug, 2017 12:00am
Sterling near 11-month highs against dollar

Sterling near 11-month highs against dollar

Sterling traded close to 11-month highs against a broadly weaker dollar on Wednesday, as investors focused on a two-day Bank of England meeting that should provide clues on whether interest rates could be hiked in coming months.A purchasing managers' inde
Published 03 Aug, 2017 12:00am
Aussie, kiwi slip

Aussie, kiwi slip

The New Zealand dollar slipped to one-week lows on Wednesday after data showed surprisingly weaker employment and wage growth in the second quarter, while its Australian counterpart pulled further away from its recent two-year peak. The New Zealand dollar
Published 03 Aug, 2017 12:00am
Spanish FA chief released on bail

Spanish FA chief released on bail

Deposed Spanish FA chief Angel Maria Villar was released on bail on Wednesday after two weeks in custody on charges of corruption, according to an AFP journalist. Villar, 67, was arrested on July 18 on suspicion of falsifying documents, misappropriation o
Published 03 Aug, 2017 12:00am
Parvez Abbasi Open Shooting Championship from August 11

Parvez Abbasi Open Shooting Championship from August 11

The inaugural Parvez Abbasi Open Shooting Championship is taking place between the 11th and 13th August, 2017, at the Pakistan Navy's Shooting Range in PNS Karsaz, in Karachi. Expert marksmen and women from all over the country will participate in various
Published 03 Aug, 2017 12:00am
'I love you' - Messi bids farewell to Neymar on Instagram

'I love you' - Messi bids farewell to Neymar on Instagram

Lionel Messi bid farewell to Neymar on Instagram Wednesday after the Brazilian striker told him and other Barcelona teammates he was leaving, saying it was a "huge pleasure" to have played with him. The Catalan club confirmed Wednesday that Neymar wanted
Published 03 Aug, 2017 12:00am
Neymar world record PSG move imminent

Neymar world record PSG move imminent

Neymar could be presented as a Paris Saint-Germain player as early as this weekend for a world record fee as Barcelona admitted defeat in convincing the Brazilian to stay at the Camp Nou on Wednesday. Wagner Ribeiro, an advisor to the player, claimed PSG
Published 03 Aug, 2017 12:00am
India to host Sri Lanka later this year

India to host Sri Lanka later this year

India will host Sri Lanka for a full series later this year, with the cricket board adding nearly two dozen matches to the tail-end of a packed home schedule for Virat Kohli's team. India will now host Australia, New Zealand and Sri Lanka back-to-back at
Published 03 Aug, 2017 12:00am
World Cup hero Ranatunga stops watching Sri Lanka

World Cup hero Ranatunga stops watching Sri Lanka

Former Sri Lanka skipper Arjuna Ranatunga on Wednesday lambasted the country's cricket leaders and said he had stopped watching the ailing national team. Ranatunga, 53, said he was also disillusioned with the government of which he is a minister because i
Published 03 Aug, 2017 12:00am
Pakistan-New Zealand cricket series in January 2018

Pakistan-New Zealand cricket series in January 2018

Pakistan cricket team will be visiting New Zealand in January next, to play five one-day internationals (ODIs) and three T20s. As per schedule, Pakistan will play ODIs against the New Zealand between January 6-19 while the three T20s will be played on Jan
Published 03 Aug, 2017 12:00am
Thiem, Halep cruise to victory in Washington openers

Thiem, Halep cruise to victory in Washington openers

Top seeds Dominic Thiem and Simona Halep cruised into the round of 16 at the ATP and WTA Citi Open with straight-set triumphs Tuesday at the US Open tune-up event. Austria's seventh-ranked Thiem, a French Open semi-finalist in June, waited out a rain dela
Published 03 Aug, 2017 12:00am
Pneumonia-hit Chandimal gets inhaler exemption

Pneumonia-hit Chandimal gets inhaler exemption

Sri Lanka skipper Dinesh Chandimal has been given permission by cricket's world body to use an inhaler during the second Test against India starting Thursday folowing a bout of pneumonia. Chandimal, who was appointed Test captain last month, missed the op
Published 03 Aug, 2017 12:00am
Bangladesh seek Australian inside knowledge for Tests

Bangladesh seek Australian inside knowledge for Tests

Bangladesh have set their sights on winning both upcoming Tests against Australia and should get some inside knowledge from former Aussie leg spinner Stuart MacGill, according to coach Chandika Hathurusingha. MacGill is close to joining another Australian
Published 03 Aug, 2017 12:00am
Smith upbeat but says no tour without new pay deal

Smith upbeat but says no tour without new pay deal

Australia captain Steve Smith said he was upbeat that a bitter pay war between players and management could be nearly over - but warned the team wouldn't go ahead with this month's tour of Bangladesh until a new deal is signed.
Published 03 Aug, 2017 12:00am
Moeen Ali calls for greater Asian involvement in England

Moeen Ali calls for greater Asian involvement in England

Moeen Ali believes English cricket is missing a trick by not reaching out to more potential players from Britain's Asian communities. Ali, whose hat-trick sealed England's 239-run win in the third Test against South Africa at The Oval on Monday, is the la
Published 03 Aug, 2017 12:00am
Pence urges Balkans to turn west, away from Russian 'shadow'

Pence urges Balkans to turn west, away from Russian 'shadow'

US Vice President Mike Pence on Wednesday lambasted Russia for trying to "destabilise" the Western Balkans as he declared the region's future was "in the West". At a summit in Nato's newest member, Montenegro, Pence called on leaders to be "resolute and u
Published 03 Aug, 2017 12:00am
Italy parliament approves Libya naval mission

Italy parliament approves Libya naval mission

The Italian parliament gave the go-ahead Wednesday to a naval mission aimed at boosting the Libyan coastguard in its fight against human traffickers and further reducing the number of migrant arrivals on Italy's coasts. Defence Minister Roberta Pinotti sa
Published 03 Aug, 2017 12:00am
Bangladesh separates conjoined twins in rare surgery

Bangladesh separates conjoined twins in rare surgery

Ten-month-old Bangladeshi siamese twins were recovering in hospital Wednesday after what surgeons hailed as the country's "groundbreaking" first successful separation operation on conjoined siblings. Sisters Tofa and Tahura, who were born conjoined at the
Published 03 Aug, 2017 12:00am
Russia says embassy in Syria hit by rebel mortar attack

Russia says embassy in Syria hit by rebel mortar attack

Russia's foreign ministry said Wednesday that its embassy compound in Damascus came under mortar fire from "terrorist groups of fighters", causing no casualties. "Two shells fell in the grounds of the Russian diplomatic mission and two more exploded just
Published 03 Aug, 2017 12:00am
US sets September 1 date for start of North Korea travel ban

US sets September 1 date for start of North Korea travel ban

The United States on Wednesday officially set a September 1 start date for a ban prohibiting its citizens from traveling to North Korea. "The Department of State has determined that the serious risk to United States nationals of arrest and long-term deten
Published 03 Aug, 2017 12:00am
Floods in Thailand's northeast kill 23

Floods in Thailand's northeast kill 23

Heavy rains have brought some of the worst floods in years to Thailand's rural northeast where 23 people have died over the past month, officials said Wednesday. Flash floods have disrupted air travel, inundated rail tracks and swallowed farmland across t
Published 03 Aug, 2017 12:00am
Turkey arrests French journalist on 'terror' charges

Turkey arrests French journalist on 'terror' charges

Turkish authorities have arrested a freelance French journalist on charges of links to a Kurdish militia Ankara regards as a terror group, the latest foreign reporter to run into trouble in the country, judicial sources said on Wednesday.
Published 03 Aug, 2017 12:00am
At 96, Prince Philip finally retires

At 96, Prince Philip finally retires

Prince Philip, the 96-year-old husband of Queen Elizabeth II, conducted his final solo public engagement on Wednesday, overseeing a military parade in the pouring rain that capped a lifetime of service. The Duke of Edinburgh, wearing a raincoat and bowler
Published 03 Aug, 2017 12:00am
North Korea's Kim a 'maniac': Duterte

North Korea's Kim a 'maniac': Duterte

North Korean leader Kim Jong-Un is a "maniac" who could destroy Asia by triggering a nuclear war, Philippine President Rodrigo Duterte said Wednesday, ahead of a regional summit to be attended by the regime's foreign minister. Using characteristically cru
Published 03 Aug, 2017 12:00am
Moldova bars Russian deputy PM

Moldova bars Russian deputy PM

Moldova on Wednesday declared Russian deputy prime minister Dmitry Rogozin persona non grata in the wake of a diplomatic spat that saw his plane barred from flying over Romania. The move looks set to ratchet up tensions between Russia and Moldova's pro-We
Published 03 Aug, 2017 12:00am
US successfully tests ICBM following North Korea missile launch

US successfully tests ICBM following North Korea missile launch

The US military conducted a test on Wednesday of an unarmed intercontinental ballistic missile, officials said, just days after North Korea conducted its own ICBM launch. Tests at Vandenberg Air Force Base in California are typically scheduled weeks or ev
Published 03 Aug, 2017 12:00am
Tillerson says US wants North Korea dialogue 'at some point'

Tillerson says US wants North Korea dialogue 'at some point'

The United States does not seek to topple the North Korean government and would like dialogue with Pyongyang at some point, but only on the understanding that it can never be a nuclear power, Secretary of State Rex Tillerson said on Tuesday. Speaking to r
Published 03 Aug, 2017 12:00am
Cotton futures hit seven-week high on short-covering
Cotton

Cotton futures hit seven-week high on short-covering

ICE cotton futures jumped 1.5 percent on Wednesday to a seven-week high, buoyed by short-covering by speculators amid a weaker dollar. The December cotton contract on ICE Futures settled up 1.03 cent, or 1.49 percent, at 70.34 cents per lb and touched a h
Published 03 Aug, 2017 12:00am
Shanghai copper slips
Exchange

Shanghai copper slips

Shanghai Futures Exchange copper slipped 0.6 percent to 50,030 yuan ($7,441) a tonne on Wednesday as a slightly firmer dollar sparked profit-taking while a brightening view of China's growth prospects underpinned prices. ShFE aluminium finished up by 2.1
Published 03 Aug, 2017 12:00am
Aluminium up on expected capacity cuts, but caution urged
Exchange

Aluminium up on expected capacity cuts, but caution urged

Aluminium prices rose on Wednesday on buying from investors expecting capacity cuts in top producer China, but analysts say supplies may not fall significantly as any cuts could be offset by new capacity. Benchmark aluminium on the London Metal Exchange e
Published 03 Aug, 2017 12:00am
Oil prices rise amid record US gasoline demand

Oil prices rise amid record US gasoline demand

Oil prices edged higher on Wednesday, as surging US fuel demand and strong refinery runs offset data from the Energy Department that showed crude inventories did not fall as much as expected last week. Crude inventories in the United States fell by 1.5 mi
Published 03 Aug, 2017 12:00am
Rubber drops
Exchange

Rubber drops

Benchmark Tokyo rubber futures on Wednesday dropped to a two-week low, extending declines into a second session, as the market came under pressure from weak oil prices and Shanghai futures. The Tokyo Commodity Exchange rubber contract for January delivery
Published 03 Aug, 2017 12:00am
Palm oil falls to one-week low
Vegetable Oil

Palm oil falls to one-week low

Malaysian palm oil futures fell to their lowest in a week on Wednesday, weighed down by expectations of rising production and tracking weaker performances in related edible oils. The benchmark palm oil contract for October delivery on the Bursa Malaysia D
Published 03 Aug, 2017 12:00am
Arabica coffee at 3-1/2 months high, cocoa up

Arabica coffee at 3-1/2 months high, cocoa up

Arabica coffee futures on ICE rose to a 3-1/2 month high on Wednesday, resuming their rally to breach a key technical level, while cocoa also made gains on the coattails of larger commodity markets. Sugar closed moderately lower after trading both sides o
Published 03 Aug, 2017 12:00am
Gold at seven-week high in New York

Gold at seven-week high in New York

Gold prices rose to a seven-week high on Tuesday, after US economic data showed lukewarm inflation and nearly flat consumer spending, raising the question of whether the Federal Reserve will raise interest rates in the coming months. Spot gold rose 0.3 pe
Published 03 Aug, 2017 12:00am
Gold down in Asia
Exchange

Gold down in Asia

Gold edged lower in Asia on Wednesday as the dollar firmed and as investors took profits after downbeat US data propelled prices to a seven-week high in the previous session. "At the moment, the upside looks a little bit limited. We're seeing obviously so
Published 03 Aug, 2017 12:00am
Gold holds near seven-week high in Europe
Exchange

Gold holds near seven-week high in Europe

Gold prices held near seven-week highs on Wednesday after data showed fewer new jobs than forecast were created in the United States in July, bolstering expectations that the Federal Reserve will be cautious about raising interest rates. Investors were lo
Published 03 Aug, 2017 12:00am
US MIDDAY: corn, soya higher

US MIDDAY: corn, soya higher

US corn and soyabean futures firmed on Wednesday, rebounding from one-month lows set in both commodities a day earlier, but outlooks for improved weather for US crops continued to keep prices in check. Chicago Board of Trade wheat futures fell, retreating
Published 03 Aug, 2017 12:00am
US MIDDAY: gold rises
Exchange

US MIDDAY: gold rises

Gold rose on Wednesday, nearing seven-week highs as the dollar fell to a 15-month low and US data showed fewer-than-expected new jobs in July, bringing into question chances of the Federal Reserve raising interest rates in the coming months. Gold is highl
Published 03 Aug, 2017 12:00am
External debt situation: clarification
Exchange

External debt situation: clarification

The spokesman of the Finance Division said here a section of media has carried reports that the present Government in four years period has "added whopping $35 billion to Pakistan's debt". The reports further state that Pakistan's total external debt has
Published 03 Aug, 2017 12:00am
Construction work on 15 hospitals approved by Nawaz begins

Construction work on 15 hospitals approved by Nawaz begins

The government has started construction work on 15 hospitals out of 40 approved by former Prime Minister Nawaz Sharif in 2016 in four federating units, while work on other hospitals will be started soon. Briefing the Public Accounts Committee (PAC) of the
Published 03 Aug, 2017 12:00am
Bajwa lauds role of Baloch Regiment

Bajwa lauds role of Baloch Regiment

Chief of the Army Staff General Qamar Javed Bajwa on Wednesday praised the role of the Baloch Regiment in the war against terrorism. He was addressing a two-day conference at the Baloch Regimental Centre in Abbottabad. The participants included soldiers a
Published 03 Aug, 2017 12:00am
JDW Sugar Mills Limited
Mutual Funds

JDW Sugar Mills Limited

INTRODUCTION: JDW Sugar Mills Limited is one of the biggest sugar-producing companies in Pakistan, contributing around 15-17 percent to the country's total sugar production. The company is owned by the industrial group JDW, which is considered one
Published 03 Aug, 2017 12:00am
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