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
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
AS ONE of the world's leading trading firms specializing in energy, metals, and minerals, Trafigura is proud to join the inauguration celebrations for Pakistan GasPort Consortium Limited's landmark FSRU-based LNG import terminal at Port Qasim, Karachi. Tr
BY THE GRACE OF GOD, Pakistan GasPort's LNG import terminal has been successfully completed and will play its unique part in meeting the country's energy requirements. With an estimated investment of about half a billion dollars by PGPL, BW Group, and Fau
BW INTEGRITY, the brand new Floating Storage and Regasification Unit (FSRU) on a 15 year charter to Pakistan GasPort Consortium Limited (PGPC), is now owned by BW FSRU II Private Limited - a joint venture between BW Group and Mitsui & Co. with a 51-49 spl
THE BANK of Punjab is proud to be the lead financial advisor to Pakistan Gas Port Consortium Limited (PGPC) and has provided it with Letter of Credit facilities to ensure the timely and successful completion of the country's second LNG terminal. The inaug
The commissioning of Pakistan's second LNG terminal represents a significant step forward for our country's energy security and for the global energy sector. This project is proof that Pakistan is building a safe and secure future for our children. This t
TWO YEARS AGO, after overcoming many challenges, Pakistan started LNG imports. It is currently importing over 4.5 million tons per year. Today we are inaugurating the country's second LNG regasification terminal, which has a capacity to handle over 5 mill
AWARDED THROUGH an international competitive bidding process, the LNG import terminal established by Pakistan Gasport Consortium Limited (PGPC)-the wholly owned subsidiary of Pakistan Gasport Limited (PGPL)-represents an investment of about $500 million.
Shanghai Futures Exchange copper ended flat at 52,950 yuan ($7,980) a tonne on Monday amid a slightly firmer dollar, supported after a report showed China's property sector, a major metals consumer, remained resilient last month. China's new home prices r
Copper edged higher on Monday, supported by falling inventories and a monthly upturn in China's property prices, with gains capped by a firmer dollar. Benchmark copper on the London Metal Exchange ended 0.8 percent up at $6,828 a tonne, having posted its
BP and Eni are among companies that have expressed an interest in developing the giant Majnoon oilfield which Royal Dutch Shell plans to leave next year, Iraqi oil officials said on Monday. Shell has agreed to exit the Majnoon field in southern Iraq and h
Oil prices slipped on Monday, extending recent weakness ahead of an Opec meeting next week, while a rally in the dollar negatively affected commodities across the board. Brent crude futures were down 84 cents at $61.86, or 1.4 percent, by 11:37 a.m. EST (
Benchmark Tokyo rubber futures fell on Monday for a fourth straight session, hitting a 5-month low, weighed down by concerns over rising inventories and softer demand from top buyer China. The Tokyo Commodity Exchange (TOCOM) rubber contract for April del
Malaysian palm oil futures fell to their lowest in three months on Monday evening as sentiment took a hit from India's move to raise import tax on edible oils to its highest in over a decade. India, the world's largest importer of edible oils, said it wou
Raw sugar futures on ICE fell more than 2 percent on Monday, falling from the prior session's 5-1/2-month high after data showed speculators cut their bearish position more than expected, reducing prospects for more short-covering. March raw sugar settled
Gold eased on Monday due to a stronger US dollar, but remained near a one-month high hit in the previous session on uncertainty over progress on a potential overhaul of the US tax code. Spot gold was down 0.2 percent at $1,291.44 per ounce by 0757 GMT, bu
Gold slipped on Monday as the dollar rose, but prices still held near one-month highs hit last week as political and economic uncertainty in the United States dominated sentiment. Spot gold was down 0.4 percent at $1,288.49 an ounce at 1446 GMT, off Frida
Two straight years of "massive shortfalls" in global robusta coffee output will create a cumulative supply deficit of 8 million bags that should be reflected in much higher prices, Olam International Ltd's chief executive officer said last Wednesday. Sunn
Chicago wheat futures fell 1.4 percent on Monday as the dollar climbed against a basket of currencies, making US grain more expensive in a well-supplied global market. Soyabean and soyaoil futures also eased amid steep declines in palm oil after India hik
Gold fell more than 1 percent on Monday, giving up the prior session's gains on pressure from the rising dollar, expectations for US interest rate hikes and as the market entered a holiday week. Spot gold was down 1.4 percent at $1,275.66 an ounce by 2:38
Gasoline refining margins in northwest Europe dropped by over 4 percent in the week to Friday, their largest weekly drop in over a year, as exports to the US East Coast slowed and stocks rose. ARA gasoline stocks rose in the week to Thursday to their high
Euronext wheat futures were little changed on Friday, holding close to 2-1/2 month lows, with a firm euro underscoring weak export prospects and countering support from higher US prices. December milling wheat on Paris-based Euronext was unchanged on the
Strong overseas demand for corn supported nearby bids for supplies of the grain shipped by barge to the US Gulf as well as premiums for export loadings, traders said on Friday. The CIF market for soyabeans weakened following good movement of barges filled
Chinese iron ore futures shed early losses, and rallied more than 1 percent on Monday, as steel prices recovered after a three-day slide. But plentiful stockpiles of the steelmaking raw material in China, which are at their highest since August, kept gain
US natural gas futures climbed on Friday as rising exports and higher than normal heating demand accelerated a decline in stockpiles that were already below normal for this time of year. Traders noted, however, that prices were up despite the latest forec
Russian wheat export prices were broadly stable last week due to quiet trade, although Egypt, the world's largest wheat importer, agreed a large purchase of Russian wheat, analysts said on Monday. Egypt's state grain buyer GASC bought a total of 240,000 t
Fears of short supply of lint cotton pushed rates higher on the cotton market on Monday, dealers said. The official spot rate picked up Rs 100 to Rs 6,500, they said. In the ready session, over 10,000 bales of cotton changed hands between Rs 5950-6800, th
On Friday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,106. The traded value of Metals, Energy and COTS/FX was recorded at PKR 7.312 billion and the number of lots traded was 10,837. Major business was contributed by currencie
Palm oil on the European vegetable oils market eased on Friday, tracking Malaysian palm oil futures, which dipped on a strong ringgit and on expectations for increasing production in Malaysia. A strong ringgit makes palm oil more expensive for foreign buy
Chicago Board of Trade corn futures surged nearly 2 percent Friday on short-covering after contract lows this week, and expectations that weekly data from the US Commodity Futures Trading Commission would show large speculators holding a near-record net s
Asia's naphtha crack recovered to a two-session high of $124.48 a tonne on Friday after hitting its lowest in two weeks in the previous session due to higher western volumes provisionally booked for December arrival in the East. But the steady stream of d
Brazil's 2017/18 coffee crop, which has already been harvested, probably reached 50.45 million 60-kg bags, consultancy Safras & Mercado said on Friday, cutting its view from 51.1 million bags. It said that some large producing regions in Brazil, the world
The Karachi Port handled 350,290 tonnes of cargo comprising 286,082 tonnes of import cargo and 64,208 tonnes of export cargo including 7,741 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargo of 286
Spot basis bids for hard red winter (HRW) wheat in the southern US Plains were unchanged on Friday as farmers eyed higher futures prices, dealers said. At 12:41 p.m. CST Chicago Board of Trade (CBOT) K.C. December HRW wheat was up 4-1/4 cent at $4.21-1/4
Soyameal on the European meals and feeds market eased on Friday on the back of beneficial rain in the Brazilian soyabean belt and due to a weaker CBOT soyameal close the day before on lagging export sales. "Prices were mostly fixed on last night's Chicago
Chicago Board of Trade soyabean futures hit a one-week high on Friday as fears of stressful crop weather in Argentina lifted soyameal futures, traders said. CBOT January soyabeans settled up 18-1/2 cents at $9.90-1/2 per bushel after reaching $9.92, the c
Chicago Board of Trade wheat futures rose on Friday for a second straight session, following broad strength in commodities as the US dollar declined, traders said. The 19-market Thomson Reuters CoreCommodity Index was up more than 1 percent. The dollar fe
Sudan announced emergency measures on Monday aimed at rationing its dwindling supply of dollars and stabilising its pound currency after it weakened sharply in recent weeks.
Digital storage company Marvell Technology Group announced Monday it will acquire chipmaker Cavium for about $6 billion, broadening the companies' combined product slate to boost competitiveness against larger rivals. The cash and stock deal will combine
Japan's October trade surplus shrank 40.7 percent from a year earlier as growth in exports were eclipsed by higher costs of importing crude oil and petroleum products, the government said Monday. The world's third-largest economy logged a surplus of 285.4
Thailand on Monday posted its fastest quarter of economic growth in three years of junta rule, a boost for a country that was once Southeast Asia's economic dynamo but has laboured under years of political upheaval. Since toppling the civilian government
S&P Global Ratings on Monday affirmed Saudi Arabia's credit ratings, saying the kingdom's sweeping reforms could make it attractive to investors in the medium term despite underlying risks. The agency maintained its "A-/A-2" ratings on Saudi Arabia and sa
S&P Global Ratings on Monday affirmed Saudi Arabia's credit ratings, saying the kingdom's sweeping reforms could make it attractive to investors in the medium term despite underlying risks. The agency maintained its "A-/A-2" ratings on Saudi Arabia and sa
Alibaba said on Monday it would take a major stake in one of China's top food sellers for $2.9 billion as the e-commerce giant expands further into the retail world. China's largest e-commerce platform has invested heavily in recent years to connect its o
Apple has reached its first agreement with a major French bank on Apple Pay, as Societe Generale said Monday it would offer its clients the chance to use the smartphone payment system. In a brief statement, Societe Generale said it would in future offer A
Honda is recalling about 800,000 of its Odyssey minivans in the United States over faulty parts blamed for 46 minor injuries, the company said, just a month after settling a huge lawsuit on other defects. The recall, which affects the 2011-2017 models sol
Philippine President Rodrigo Duterte has offered China an opportunity to create a third telecommunication provider in the country, his spokesman said Monday, using rapidly-warming ties with Beijing to break a duopoly that consumers blame for poor services
Goldman Sachs Chief Executive Lloyd Blankfein said the bank would have hubs in Frankfurt and Paris after Brexit and that it would be up to the staff to decide where they want to move to from London, he told French newspaper Le Figaro. Blankfein has visite
Swedish carmaker Volvo Cars said Monday it has signed an agreement to supply "tens of thousands" of self-driving cars to the ride-sharing company, Uber. Volvo - which is owned by China's Geely and has yet to build a self-driving system - said in a stateme
There cannot be a common European insurance scheme for bank deposits if the level of unpaid loans is not reduced, the president of the European Central Bank said on Monday. Mario Draghi's comments mark a rare alignment with Germany's position on a key iss
Most stock markets in the Middle East fell again on Monday, dampened by geopolitics, although Abu Dhabi was supported by plans for an initial public offer of shares by the distribution unit of Abu Dhabi National Oil Co (ADNOC). Regional tensions have rise
China stocks reversed early losses to end higher on Monday, aided by a rebound in banking shares even after Beijing set sweeping new guidelines to regulate asset management products. The central bank issued the guidelines on Friday to more strictly regula
Tokyo stocks ended lower Monday, hit by a stronger yen with Toshiba plunging after the embattled Japanese conglomerate announced plans to issue new shares. The benchmark Nikkei 225 index fell 0.60 percent, or 135.04 points, to 22,261.76, while the broader
A rebound in industrials pushed the Dow Jones Industrial Average higher on Monday, while the technology-led gains in the S&P 500 and Nasdaq were kept in check by declines in healthcare stocks. With no major earnings or economic data scheduled this week, t
Sri Lankan shares ended marginally lower on Monday, with traders staying on the sidelines for want of fresh triggers amid expectations of certain amendments in the budget. The Colombo stock index ended 0.15 percent weaker at 6,473.87. It had lost 1 percen
Southeast Asian stock markets began the week on a positive note tracking broader Asia, with Thailand ending higher on strong economic data, while Indonesia came off record highs hit earlier in the session. Thai shares ended the session up 0.3 percent afte
Hong Kong stocks rose slightly on Monday, despite pressure from a retreat on Wall Street amid tax reform uncertainty. The Hang Seng index rose 0.2 percent, to 29,260.31 points, and the China Enterprises Index lost 0.6 percent, to 11,538.28 points. The sub
Indian shares rose for a third straight session on Monday, as gains in oil refiners such as Reliance Industries Ltd and ONGC Ltd helped offset losses in IT stocks. The benchmark BSE index closed up 0.05 percent at 33,359.9 while the broader NSE index ende
European shares rose on Monday as confidence over global economic activity and a retreating euro encouraged investors to brush off worries over the collapse of coalition government talks in Germany. Germany's DAX rose 0.5 percent, more than 60 points abov
Canada's main stock index edged higher on Monday morning as financial stocks led a broader rising trend while the heavyweight energy sector fell with lower oil prices. At 10:08 a.m. EST (1508 GMT), the Toronto Stock Exchange's S&P/TSX composite index was
Australian shares ended lower on Monday, following a weak lead from Wall Street caused by uncertainties over Republican tax reforms and before minutes of the Reserve Bank of Australia's (RBA) November meeting are published on Tuesday. The S&P/ASX 200 Inde
Britain's top share index recovered from earlier losses to inch higher at the start of the week as cyclical sectors made a comeback, though the UK market lagged European benchmarks and Shire was a loser among health stocks. The blue chip FTSE 100 index en
China's yuan has come to more closely resemble a freely floating currency despite low levels of daily volatility, a report by a researcher at the Federal Reserve Bank of New York concluded. The report, written by John Clark, a senior researcher at the New
The euro hit a two-month low against the yen on Monday, as German Chancellor Angela Merkel's efforts to form a three-way coalition government failed, stoking political uncertainty in the euro zone's largest economy. Merkel, whose conservatives were weaken
The US dollar touched its highest against a basket of major currencies in nearly a week on Monday, as the euro weakened amid political risks linked to German Chancellor Angela Merkel's failure to form a three-way coalition government. Merkel, whose conser
The euro recovered from a two-month low against the yen touched in Asian trade on Monday, with investors brushing off broader political risks arising from German Chancellor Angela Merkel's failure to form a three-way coalition government. Merkel, whose co
The Sri Lankan rupee closed flat on Monday in dull trade as importer dollar demand was offset by exporter conversion of US currency, dealers said. The market expects higher seasonal imports and a pick-up in motor vehicle buying after taxes were slashed in