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Dec 05, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2018-03-23
UBS to pay $230 million in US subprime settlement

UBS to pay $230 million in US subprime settlement

Swiss banking giant UBS will pay $230 million to settle charges it misrepresented mortgage-backed securities in the run-up to the financial crisis, New York State officials announced Wednesday. The settlement with the New York Attorney General resolves al
Published 23 Mar, 2018 12:00am
GSK advances in Pfizer consumer health auction as Reckitt quits

GSK advances in Pfizer consumer health auction as Reckitt quits

GlaxoSmithKline has pulled ahead in a race to buy Pfizer's consumer healthcare business, which the US drugmaker believes could be worth as much as $20 billion, after its main rival Reckitt Benckiser quit the auction. Sources familiar with the matter said
Published 23 Mar, 2018 12:00am
US retailer Best Buy cuts ties with China's Huawei

US retailer Best Buy cuts ties with China's Huawei

Best Buy Co Inc, the largest US consumer electronics retailer, will cut ties with China's Huawei Technologies Co Ltd, a person familiar with the matter said, amid heightened scrutiny on Chinese tech firms in the United States. Best Buy will stop selling H
Published 23 Mar, 2018 12:00am
After 130 years, family loosens grip on storied French saxophones

After 130 years, family loosens grip on storied French saxophones

Since 1885 the descendants of Henri Selmer have been making saxophones favoured by jazz greats like John Coltrane and Charlie Parker, but the company has decided it's time to bring in another player. Facing growing competition from cheaper Chinese horns,
Published 23 Mar, 2018 12:00am
UN sets up rare labour probe against Venezuela

UN sets up rare labour probe against Venezuela

The UN's labour body on Wednesday set up an investigation into alleged violations in Venezuela, following a request by a private-sector group long opposed to the Caracas government. The United Nations' International Labour Organization rarely creates this
Published 23 Mar, 2018 12:00am
PMEX daily trading report
Exchange

PMEX daily trading report

On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,360. The traded value of Metals, Energy and COTS/FX was recorded at PKR 14.569 billion and the number of lots traded was 20,955.
Published 23 Mar, 2018 12:00am
CBOT corn futures rise in technical trade

CBOT corn futures rise in technical trade

Chicago Board of Trade corn futures ended fractionally higher on Wednesday in largely technical trade, with the lead May contract staying inside of Tuesday's trading range, brokers said. CBOT May corn settled up 1/2 cent at $3.75 per bushel, holding above
Published 23 Mar, 2018 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Tuesday for the third time in four sessions, helped by limited selling by farmers. Slow farmer sales have resulted in a lack of commercial hedges to offset them on the futures market, allowing prices to rise in thin vol
Published 23 Mar, 2018 12:00am
Palm oil eases on European vegoils market
Vegetable Oil

Palm oil eases on European vegoils market

Palm oil on the European vegetable oils market eased on Tuesday on a technical dip in CBOT soyaoil futures despite Malaysian palm oil futures rising on improved export numbers. Asking prices for palm oil were between unchanged and $5 a tonne lower, also p
Published 23 Mar, 2018 12:00am
Activities at Karachi and Qasim Ports

Activities at Karachi and Qasim Ports

The Karachi Port handled 108,813 tonnes of cargo comprising 79,300 tonnes of import cargo and 29,513 tonnes of export cargo including 2,624 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargo of 79
Published 23 Mar, 2018 12:00am
Prices higher on thin business
Cotton

Prices higher on thin business

Dollar's sharp gains propelled ginners to refrain from new deals on the cotton market on Thursday in the process of slow trading activity, dealers said. Official spot rate was higher by Rs 100 to Rs 7600, they added. In both Sindh and Punjab seed cotton p
Published 23 Mar, 2018 12:00am
Ukraine winter crops in good state

Ukraine winter crops in good state

Most of Ukraine's winter grain crops were in a good or satisfactory condition as of March 18, analyst UkrAgroConsult said on Monday. UkrAgroConsult said in a report that 87.1 percent of crops were in a good or satisfactory condition while 12.9 percent of
Published 23 Mar, 2018 12:00am
Rupee devaluation pushes up cotton prices
Currency

Rupee devaluation pushes up cotton prices

Due to the devaluation of the Pakistani rupee last Tuesday by about four to five percent to about Rs 116 against the American dollar, traders said in Karachi that cotton prices have gone up by about Rs 200 per maund (37.32 Kgs) in the ready market. The Ka
Published 23 Mar, 2018 12:00am
Rupee devaluation pushes up cotton prices
Currency

Rupee devaluation pushes up cotton prices

Due to the devaluation of the Pakistani rupee last Tuesday by about four to five percent to about Rs 116 against the American dollar, traders said in Karachi that cotton prices have gone up by about Rs 200 per maund (37.32 Kgs) in the ready market. The Ka
Published 23 Mar, 2018 12:00am
Afghan strongman makes way for hand-picked successor, ending crisis

Afghan strongman makes way for hand-picked successor, ending crisis

Afghanistan's "King of the North" handed the reins to his hand-picked successor on Thursday, ending a three-month political crisis that many had feared would turn violent. Atta Mohammad Noor, who sees himself as a potential presidential contender, agreed
Published 23 Mar, 2018 12:00am
At least 14 killed in Mogadishu car bombing

At least 14 killed in Mogadishu car bombing

At least 14 people were killed and several others wounded on Thursday when a car bomb blew up outside a popular hotel in the Somalia's capital Mogadishu. The Al-Qaeda aligned Shabaab group said it was responsible for the blast in front of the Weheliye hot
Published 23 Mar, 2018 12:00am
CPJ concerned at US CLOUD Act

CPJ concerned at US CLOUD Act

The Committee to Protect Journalists on Tuesday expressed its concerns with the Clarifying Lawful Overseas Use of Data (CLOUD) Act and its potential to expose journalists to targeting by foreign governments. The CLOUD Act would make it easier for some for
Published 23 Mar, 2018 12:00am
Sarkozy protests his innocence in Libya cash scandal

Sarkozy protests his innocence in Libya cash scandal

French ex-president Nicolas Sarkozy angrily protested his innocence Thursday after he was charged with corruption over explosive claims that late Libyan dictator Moamer Kadhafi funded his 2007 election campaign. The 63-year-old rightwinger said in his cou
Published 23 Mar, 2018 12:00am
In world first, Air India crosses Saudi airspace to Israel

In world first, Air India crosses Saudi airspace to Israel

Air India launched on Thursday the first scheduled service to Israel to be allowed to cross Saudi airspace, a sign of a behind-the-scenes improvement in ties between the Arab kingdom and the Jewish state. The inaugural flight took off from New Delhi at 12
Published 23 Mar, 2018 12:00am
600 invited to Prince Harry and Meghan Markle's wedding

600 invited to Prince Harry and Meghan Markle's wedding

Some 600 people have been invited to the wedding of Britain's Prince Harry and his fiancee Meghan Markle, Kensington Palace announced Thursday. The invitations were posted earlier this week, Harry's official residence said - without revealing who had made
Published 23 Mar, 2018 12:00am
'Ashtray of Europe' Austria stubs out smoking ban

'Ashtray of Europe' Austria stubs out smoking ban

Austrian MPs on Thursday scrapped a smoking ban in bars and restaurants that was due to come into force in May, despite a petition in its favour collecting 545,000 signatures. The overturning of the ban, introduced by the previous government, was approved
Published 23 Mar, 2018 12:00am
Peru's embattled president Kuczynski announces resignation

Peru's embattled president Kuczynski announces resignation

Peru's President Pedro Pablo Kuczynski announced his resignation Wednesday in an address to the nation, the day before he was to face an impeachment vote in Congress. The 79-year-old former Wall Street banker, under fire over his links to Brazilian constr
Published 23 Mar, 2018 12:00am
Maldives lifts state of emergency with dissidents locked up

Maldives lifts state of emergency with dissidents locked up

Maldives President Abdulla Yameen lifted a 45-day state of emergency on Thursday, a day after senior political opponents were locked up indefinitely for allegedly trying to topple him last month. Yameen chose not to extend the draconian laws he had invoke
Published 23 Mar, 2018 12:00am
Three Turkish soldiers killed

Three Turkish soldiers killed

Three Turkish soldiers died Thursday clearing improvised explosive devices (IEDs) in the Syrian region of Afrin after the capture of Afrin city at the weekend, Prime Minister Binali Yildirim said. "We have three martyrs today. They were martyred while cle
Published 23 Mar, 2018 12:00am
First rebels quit Syria enclave under Russia-brokered deal

First rebels quit Syria enclave under Russia-brokered deal

Syrian rebels and their families began leaving Syria's Eastern Ghouta on Thursday under the first evacuation deal in the shrinking opposition enclave outside Damascus. The agreement, announced on Wednesday and brokered by regime ally Russia, could empty o
Published 23 Mar, 2018 12:00am
Dollar sags in Asia
Currency

Dollar sags in Asia

The dollar struggled against its peers on Thursday after the Federal Reserve indicated it was more likely to raise interest rate three times in 2018 instead of the four that some currency bulls had hoped for. The Fed raised rates by 25 basis points to 1.7
Published 23 Mar, 2018 12:00am
Dollar hovers above one-month low in Europe
Currency

Dollar hovers above one-month low in Europe

The dollar held near a one-month low against a basket of currencies on Thursday as investors digested the implications of a generally dovish outlook from the US Federal Reserve after it raised interest rates by a quarter point as widely expected. While ma
Published 23 Mar, 2018 12:00am
Early trade in New York: yen rises against dollar
Currency

Early trade in New York: yen rises against dollar

The yen rose on Thursday, reaching a three-week peak against the dollar, as traders piled into the Japanese currency in a safe-haven move spurred by global trade tension and losses in stocks. The greenback was little changed, however, against a group of c
Published 23 Mar, 2018 12:00am
Dollar stumbles in NY as Fed sticks to rate view for 2018
Currency

Dollar stumbles in NY as Fed sticks to rate view for 2018

The dollar recorded its largest one-day loss in two months against a basket of currencies on Wednesday as Federal Reserve officials stuck to their view of three rate increases for 2018 as they want to see a further pickup in inflation.
Published 23 Mar, 2018 12:00am
Sri Lankan rupee falls
Currency

Sri Lankan rupee falls

The Sri Lankan rupee ended slightly weaker on Thursday as dollar demand from importers and banks outweighed mild selling of the US currency by exporters, dealers said. The rupee closed at 156.10/15 per dollar, compared with Wednesday's close of 156.05/15.
Published 23 Mar, 2018 12:00am
Most currencies rise on 'no-surprise' Fed
Currency

Most currencies rise on 'no-surprise' Fed

The Malaysian ringgit led gains as Asian currencies rose against the dollar after the Fed's rate hike decision came in as expected, although resurgent fears of a global trade war weighed on positive sentiment. The US central bank raised interest rates on
Published 23 Mar, 2018 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 82.96-82.96 (Previous 82.96-82.96).
Published 23 Mar, 2018 12:00am
Sterling erases gains after post BoE policy jump
Currency

Sterling erases gains after post BoE policy jump

Sterling briefly jumped to its highest against the euro in nine months on Thursday after two Bank of England policymakers unexpectedly backed an interest rate increase, but later erased all the gains. The pound also spiked above $1.42 before falling back
Published 23 Mar, 2018 12:00am
Aussie slips, kiwi up

Aussie slips, kiwi up

The Australian dollar slipped from early highs on Thursday as renewed worries of a global trade war gripped investors ahead of a US tariff announcement on Chinese imports, while the New Zealand dollar held on to overnight gains.
Published 23 Mar, 2018 12:00am
Hong Kong down

Hong Kong down

Hong Kong stocks extended losses to end lower on Thursday, hurt by a slump in shares of IT companies, amid rising trade war fears and as investors digested the impact of a rate hike by the US Federal Reserve. At close of trade, the Hang Seng index was dow
Published 23 Mar, 2018 12:00am
China stocks fall

China stocks fall

China stocks fell on Thursday, led by consumer and real estate firms, as investors digested the impact of a rate hike by the US Federal Reserve and as concerns over a potential trade war between the world's largest and second-largest economies intensified
Published 23 Mar, 2018 12:00am
Thursday's early afternoon trade: Wall Street trims losses

Thursday's early afternoon trade: Wall Street trims losses

US stocks slid on Thursday, but were off session lows, after President Donald Trump said he planned to impose tariffs on up to $60 billion of Chinese imports, but his action was far removed from threats that could have ignited a global trade war.
Published 23 Mar, 2018 12:00am
Stocks end modestly lower after Fed hikes rates; energy up
Kerb

Stocks end modestly lower after Fed hikes rates; energy up

US stocks ended slightly lower on Wednesday, with major indexes giving up gains in choppy trade after the Federal Reserve raised US interest rates, while a strong gain in the energy space helped limit losses. The Fed raised interest rates and forecast at
Published 23 Mar, 2018 12:00am
Sri Lankan stocks up

Sri Lankan stocks up

Sri Lankan shares ended marginally higher on Thursday, snapping three straight sessions of falls, as investors bought beverage and diversified stocks, brokers said. The Colombo stock index rose 0.09 percent to 6,451.51, after it posted an eight-week closi
Published 23 Mar, 2018 12:00am
Tokyo stocks soar

Tokyo stocks soar

Tokyo stocks closed one percent higher on Thursday as bargain-hunting after three straight days of losses offset a stronger yen. The benchmark Nikkei 225 index edged up 0.99 percent, or 211.02 points, to close at 21,591.99, while the broader Topix index w
Published 23 Mar, 2018 12:00am
Treasury yields retrace earlier rise

Treasury yields retrace earlier rise

US Treasury yields were slightly lower on Wednesday after the Federal Reserve raised interest rates and forecast two more hikes for 2018, fewer than the three that many market participants had expected. Policymakers were largely split as to whether a tota
Published 23 Mar, 2018 12:00am
Treasury yields retrace earlier rise

Treasury yields retrace earlier rise

US Treasury yields were slightly lower on Wednesday after the Federal Reserve raised interest rates and forecast two more hikes for 2018, fewer than the three that many market participants had expected. Policymakers were largely split as to whether a tota
Published 23 Mar, 2018 12:00am
Indian shares lower

Indian shares lower

Indian shares erased early gains to end lower on Thursday, due to volatility around the expiry of monthly derivative contracts at the end of the session. The broader NSE index closed 0.4 percent lower at 10,114.75, while the benchmark BSE index was down 0
Published 23 Mar, 2018 12:00am
European shares suffer as trade jitters, weak data weigh

European shares suffer as trade jitters, weak data weigh

Concerns about trade sent European shares tumbling on Thursday as the United States prepared to announce hefty tariffs on Chinese imports, with banks, basic resources stocks and tech the worst-performing. US President Donald Trump signed a presidential me
Published 23 Mar, 2018 12:00am
Australian, New Zealand shares slip

Australian, New Zealand shares slip

Australian shares fell on Thursday, as early gains from solid jobs data were erased by losses among banks which were rooted in a Royal Commission's inquiry into the embattled financial sector. The S&P/ASX 200 index slipped 0.2 percent, or 13.1 points, to
Published 23 Mar, 2018 12:00am
Southeast Asian stocks: Philippines surges most in 15 months
Exchange

Southeast Asian stocks: Philippines surges most in 15 months

Philippine shares surged 2.7 percent on Thursday, the most since December 2016, as the central bank maintained its key rate and the US Federal Reserve's rate outlook for 2018 was seen as less hawkish than expected. Bangko Sentral ng Pilipinas kept the ben
Published 23 Mar, 2018 12:00am
Trade jitters, BoE surprise send FTSE below 7,000 points

Trade jitters, BoE surprise send FTSE below 7,000 points

The UK's top share index fell below a key level on Thursday, hit by concerns over potential trade wars and following a hawkish surprise from the Bank of England's policy meeting. The BoE kept interest rates on hold but two policymakers unexpectedly voted
Published 23 Mar, 2018 12:00am
US spending deal clinched, could avert government shutdown

US spending deal clinched, could avert government shutdown

US congressional budget negotiators said Wednesday they had reached a deal on federal spending for the remainder of fiscal 2018, two days before a deadline to fund the government or risk a shutdown. The $1.3 trillion spending bill was hailed by House Spea
Published 23 Mar, 2018 12:00am
Record 2017 for Deutsche Bahn but late train blues persist

Record 2017 for Deutsche Bahn but late train blues persist

German state-owned rail operator Deutsche Bahn booked record revenues and passenger numbers in 2017, but poor punctuality worsened by a spate of bad weather remains a sore spot. The red-and-white-liveried company added 3.2 million passengers compared with
Published 23 Mar, 2018 12:00am
Travel misery as French unions strike against Macron

Travel misery as French unions strike against Macron

Tens of thousands of protesters rallied in the streets of France on Thursday and strikes caused travel misery for millions in a showdown between trade unions and President Emmanuel Macron that could be decisive for his reform efforts. Seven unions represe
Published 23 Mar, 2018 12:00am
US weekly jobless claims up slightly

US weekly jobless claims up slightly

The number of Americans filing for unemployment benefits rose just marginally last week, suggesting strong job growth in March that should underpin consumer spending. Other data on Thursday offered an upbeat assessment of the economy, echoing a similar to
Published 23 Mar, 2018 12:00am
Toyota suspends self-driving car tests

Toyota suspends self-driving car tests

Japanese automaker Toyota said Thursday it was suspending tests of its self-driving cars so staff could "emotionally process" after an autonomous Uber car killed a pedestrian in an accident. Ride-sharing giant Uber has already suspended use of self-drivin
Published 23 Mar, 2018 12:00am
Benin president taps China for controversial railway

Benin president taps China for controversial railway

Benin's President Patrice Talon has asked local firm Petrolin and French giant Bollore to "withdraw" from a major rail infrastructure project to make way for China, in the latest development of the controversial scheme. In an interview published on Thursd
Published 23 Mar, 2018 12:00am
Beijing follows Fed with rate hike with eye on cashflows
Currency

Beijing follows Fed with rate hike with eye on cashflows

China on Thursday raised the amount it charges lenders to borrow cash as it looks to prevent cash outflows after the Federal Reserve's latest interest rate hike. With the Fed embarking on a period of monetary tightening as the economy continues to strengt
Published 23 Mar, 2018 12:00am
Malta freezes Pilatus Bank assets after removing chairman

Malta freezes Pilatus Bank assets after removing chairman

Malta's financial services watchdog has frozen the assets of scandal-hit Pilatus Bank following the removal by the regulator of the bank's chairman just hours after his arrest in the United States for circumventing United States sanctions against Iran. Be
Published 23 Mar, 2018 12:00am
Kenya's poverty rate drops sharply in 10 years

Kenya's poverty rate drops sharply in 10 years

The proportion of Kenyans living in poverty has fallen by 10.5 percentage points in a decade, to 36.1 percent, the statistics office said on Thursday. The Kenya National Bureau of Statistics (KNBS) attributed the drop to economic expansion and devolution
Published 23 Mar, 2018 12:00am
Bank of England holds fire on interest rate

Bank of England holds fire on interest rate

The Bank of England said Thursday it had decided to keep its main interest rate at 0.50 percent, as it weighed high UK inflation against Brexit uncertainty. "Our Monetary Policy Committee has voted by a majority of 7-2 to maintain Bank Rate at 0.50 percen
Published 23 Mar, 2018 12:00am
Zuckerberg apology fails to quiet Facebook storm
Kerb

Zuckerberg apology fails to quiet Facebook storm

A public apology by Facebook chief Mark Zuckerberg failed Thursday to quell outrage over the hijacking of personal data from millions of people, as critics demanded the social media giant go much further to protect privacy. Speaking out for the first time
Published 23 Mar, 2018 12:00am
US, Jordan launch new counterterrorism training centre

US, Jordan launch new counterterrorism training centre

Jordan and the United States unveiled a counterterrorism training centre south of Amman on Thursday aimed at boosting the capacity of local forces in a region beset by conflict. The centre connected to the Jordanian Police Academy was opened in Suwaqah, 7
Published 23 Mar, 2018 12:00am
Dutch reject law to boost data spying

Dutch reject law to boost data spying

Dutch voters appeared Thursday to have narrowly voted against new laws giving security services greater powers to snoop on emails and online data, amid growing global fears about internet privacy. With some 93.8 percent of votes counted from Wednesday's r
Published 23 Mar, 2018 12:00am
Doha blacklists Qatari, Egyptian, Saudi 'terrorists'

Doha blacklists Qatari, Egyptian, Saudi 'terrorists'

Qatar has blacklisted 20 people and eight organisations as "terrorist," nine months after finding itself isolated in the Gulf over alleged support for Islamist extremists and sympathisers. The list, published by the interior ministry late Wednesday, inclu
Published 23 Mar, 2018 12:00am
Police kill California man with iPhone in backyard

Police kill California man with iPhone in backyard

Police in Sacramento, California shot dead an African American father of two in the backyard of his grandparents' home fearing that he was carrying a weapon. He was actually holding an iPhone. Body camera and surveillance helicopter footage released late
Published 23 Mar, 2018 12:00am
Top Trump lawyer quits as Mueller probe presses White House

Top Trump lawyer quits as Mueller probe presses White House

The leading attorney on President Donald Trump's legal team, John Dowd, resigned Thursday amid growing pressure on the White House from the Russia investigation of special counsel Robert Mueller. Dowd quit days after Trump directly attacked Mueller's inve
Published 23 Mar, 2018 12:00am
Ex-South Korean President Lee arrested over corruption

Ex-South Korean President Lee arrested over corruption

Former South Korean president Lee Myung-bak was on Thursday arrested over corruption, the last of the country's four living ex-leaders to be embroiled in a criminal inquiry. The 76-year-old, business CEO-turned president - who served from 2008 to 2013 - f
Published 23 Mar, 2018 12:00am
Saudi, US must pursue 'urgent efforts' for Yemen peace: Mattis

Saudi, US must pursue 'urgent efforts' for Yemen peace: Mattis

Saudi Arabia and America must pursue "urgent efforts" to bring a peaceful end to Yemen's war, US Defense Secretary Jim Mattis told Saudi Crown Prince Mohammed bin Salman on Thursday. The two men met at the Pentagon as part of Prince Mohammed's tour of the
Published 23 Mar, 2018 12:00am
Man jumps from public gallery in Dutch parliament

Man jumps from public gallery in Dutch parliament

The Dutch parliament was suspended for the day Thursday after a man threw himself from the public gallery, police said. "A 65-year-old man was injured when he jumped from the public gallery in the lower house of parliament," police said in a statement.
Published 23 Mar, 2018 12:00am
Erdogan ally set to buy top Turkey media group

Erdogan ally set to buy top Turkey media group

A top Turkish businessman with close ties to President Recep Tayyip Erdogan is to buy Turkey's largest media holding, a statement said Thursday, raising fears of a new tightening of government control on the press. Dogan Holding said talks had begun on th
Published 23 Mar, 2018 12:00am
Turkey gives watchdog power to block internet broadcasts

Turkey gives watchdog power to block internet broadcasts

Turkish lawmakers have passed a new law giving the communications watchdog the power to block internet broadcasts, raising fears of a new curb on freedom of expression. The legislation passed late Wednesday expands the remit of Turkey's audiovisual author
Published 23 Mar, 2018 12:00am
Shanghai copper rises
Exchange

Shanghai copper rises

Shanghai Futures Exchange copper rose 0.8 percent on Thursday after the US Federal Reserve signalled a slower pace of rate rises this year, which weighed on the dollar. "Post the FED rate hike and forward guidance on an additional two hikes, the market fo
Published 23 Mar, 2018 12:00am
Copper slides to three-month low on trade war angst
Exchange

Copper slides to three-month low on trade war angst

Copper fell to three-month lows on Thursday as escalating concern about US plans to levy duties on Chinese imports and the possibility they could trigger a trade war hit sentiment. Benchmark copper on the London Metal Exchange ended down 1.4 percent at $6
Published 23 Mar, 2018 12:00am
World's carbon emissions on the rise again: IEA

World's carbon emissions on the rise again: IEA

Harmful carbon emissions from energy rose in 2017 for the first time in three years, the International Energy Agency said Thursday, proof that the world's efforts to fight climate change are falling short. Strong economic growth pushed global energy deman
Published 23 Mar, 2018 12:00am
Oil retreats after failing to hit $70/barrel

Oil retreats after failing to hit $70/barrel

Oil prices fell on Thursday as investors took profits after this week's rally and as US stock markets fell, but losses were limited by the continuing efforts of Opec and its allies to curb supplies. Brent crude futures fell 56 cents to settle at $68.91 a
Published 23 Mar, 2018 12:00am
Tokyo rubber hits one-month low
Exchange

Tokyo rubber hits one-month low

Benchmark Tokyo rubber futures hit a one-month low on Thursday, dragged down by a stronger yen and weaker Shanghai futures. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, have also been pressured by risin
Published 23 Mar, 2018 12:00am
Malaysian palm oil gains muted
Vegetable Oil

Malaysian palm oil gains muted

Malaysian palm oil futures edged into positive territory on Thursday evening, recovering losses made after the government said it would resume export tax on the tropical oil after a three-month suspension. The benchmark palm oil contract for June delivery
Published 23 Mar, 2018 12:00am
New York cocoa nears 2016 high, arabica coffee up

New York cocoa nears 2016 high, arabica coffee up

New York cocoa futures on ICE climbed on Thursday, flirting with the highest price since 2016 on fund buying and signs of industry demand, while arabica coffee hovered above last week's contract low after open interest rose to a record. May New York cocoa
Published 23 Mar, 2018 12:00am
Gold rises in New York

Gold rises in New York

Gold rose more than 1 percent from a three-week low on Wednesday after the US Federal Reserve increased interest rates and forecast at least two more hikes for 2018, falling short of the three more increases many expected. The US dollar also hit its sessi
Published 23 Mar, 2018 12:00am
Gold hovers near two-week high in Asia

Gold hovers near two-week high in Asia

Gold prices held steady on Thursday, hovering near two-week highs hit in the previous session on a weaker dollar after the US Federal Reserve disappointed investors, who were expecting more hawkish comments on interest rate rises. The Fed raised interest
Published 23 Mar, 2018 12:00am
Gold steadies in Europe
Currency

Gold steadies in Europe

Gold steadied on Thursday below a two-week high hit in the previous session as the dollar slid after the US Federal Reserve showed a less hawkish stance on rates than expected. The Fed raised its key rate by 25 basis on Wednesday and flagged at least two
Published 23 Mar, 2018 12:00am
Global grain stocks to fall in 2018/2019

Global grain stocks to fall in 2018/2019

The International Grains Council (IGC) on Thursday forecast that global grain stocks would fall in 2018/19, with the bulk of the decline seen in corn (maize). "Initial projections for grains supply and demand in 2018/19 indicate a tighter outlook," the in
Published 23 Mar, 2018 12:00am
US MIDDAY: spot gold dips
Currency

US MIDDAY: spot gold dips

Spot gold dipped on Thursday as the US dollar pared losses on safe-haven buying from investors fearing a trade war between the United States and China, but gold futures rose, with one trader citing arbitrage trades. US President Donald Trump initiated tra
Published 23 Mar, 2018 12:00am
SC orders LDA to restore park to its original condition

SC orders LDA to restore park to its original condition

The Supreme Court on Thursday directed the Lahore Development Authority (LDA) to restore within 10 days a park of Gulberg to its original condition wherein a road was built to facilitate the residence of former finance minister Ishaq Dar. Chief Justice of
Published 23 Mar, 2018 12:00am
Fazl opposes armed struggle to achieving goals

Fazl opposes armed struggle to achieving goals

Chief of Jamiat Ulema-e-Islam (JUI-F), Maulana Fazal-ur-Rehman on Thursday opposed the armed struggle to achieving goals, saying that his party always sought a peaceful democratic way to find solutions to problems. Addressing the JUI-F's "Islam Zindabad C
Published 23 Mar, 2018 12:00am
'World Oral Health Day' marked at LUMHS

'World Oral Health Day' marked at LUMHS

To mark the "World Oral Health Day" which falls on 20th March each year, the Institute of Dentistry, LUMHS Jamshoro arranged a "Public Awareness Walk" at Liaquat University of Medical & Health Sciences Jamshoro on Thursday. Addressing the participants, Vi
Published 23 Mar, 2018 12:00am
CoAS meets Oman's defence minister

CoAS meets Oman's defence minister

Chief of Army Staff (CoAS), General Qamar Javed Bajwa, who is on an official visit to Oman met Minister for Defence Sayyid Badr bin Saud bin Harib Al-Busaidi. Matters of mutual interest including defence and security cooperation were discussed during the
Published 23 Mar, 2018 12:00am
Certain TV channels criticized for spreading 'gloomy' atmosphere

Certain TV channels criticized for spreading 'gloomy' atmosphere

Speakers Thursday criticised certain TV channels for spreading gloomy atmosphere in the society through their talk shows. They urged investors to stop funding these TV programmes by way of advertisements. At an event, which the Public Relations Committee
Published 23 Mar, 2018 12:00am
APTMA issues to be raised with PM: Rajwana
Cotton

APTMA issues to be raised with PM: Rajwana

Punjab Governor, Muhammad Rafique Rajwana has assured All Pakistan Textile Mills Association (APTMA) members that he will take up the Punjab-based textile industry issues with Prime Minister Shahid Khaqan Abbasi. "I fully understand your problems and woul
Published 23 Mar, 2018 12:00am
Shahbaz vows to ensure peace and prosperity in country

Shahbaz vows to ensure peace and prosperity in country

Punjab Chief Minister Muhammad Shahbaz Sharif vowed to take the nation towards development and prosperity by employing the passion of March 23, 1940 and said that it is our duty to strive for the fulfillment of objectives of Pakistan Movement. "It is also
Published 23 Mar, 2018 12:00am
Punjab budget to be tax-free with focus on social sector: minister

Punjab budget to be tax-free with focus on social sector: minister

Punjab Finance Minister Dr Ayesha Ghaus Pasha said that the next fiscal budget for the 2018-19 will be tax free but the expansion of the tax net will remain the agenda of the provincial government, besides focusing on social sector development projects. C
Published 23 Mar, 2018 12:00am
SZABUL approves PC-I of Islamabad campus

SZABUL approves PC-I of Islamabad campus

The Senate of Shaheed Zulfiqar Ali Bhutto University of Law (SZABUL) on Thursday approved the PC-I for setting up a campus of the SZABUL in Islamabad. The 7th meeting of the SZABUL Senate was held in its city campus with its Pro-Chancellor and provincial
Published 23 Mar, 2018 12:00am
MoU signed to compensate victims of Baldia factory
Exchange

MoU signed to compensate victims of Baldia factory

Sindh Minister for Labour, Transport and Information Syed Nasir Hussain Shah today along with the Country Director ILO @ Islamabad An Grid Kristen performed an signing ceremony of "MoU" to compensate the affectees of Baldia Factory incident, which was hap
Published 23 Mar, 2018 12:00am
Forex reserves declines by $161 million

Forex reserves declines by $161 million

The country's total liquid foreign reserves declined by $161 million to stand at $18.079 billion on March 16, 2018. The foreign reserves held by the State Bank of Pakistan decreased by $182 million to $11.944 billion. The net foreign reserves held by comm
Published 23 Mar, 2018 12:00am
FBR urged to release ST refund to exporters

FBR urged to release ST refund to exporters

Former Chief Executive, Trade Development Authority of Pakistan (TDAP), S M Muneer has urged the Federal Board of Revenue (FBR) to immediately release the Sales Tax Refund to the exporters which has reached to the tune of Rs 300 billion.
Published 23 Mar, 2018 12:00am
Rao Anwar in police custody

Rao Anwar in police custody

An Anti-Terrorism Court (ATC) on Thursday remanded former senior superintendent of police (SSP) Malir Rao Anwar, who was shifted to Karachi after being arrested near the Supreme Court premises a day earlier, into police custody for 30 days in Naqeebullah
Published 23 Mar, 2018 12:00am
Engro Corp commemorates Earth Hour

Engro Corp commemorates Earth Hour

Engro Corporation, Pakistan's largest group of companies, joined thousands of organizations worldwide to commemorate the global Earth Hour campaign for the year 2018. Engro Corporation turned off all its external lights and dimmed all non-essential lighti
Published 23 Mar, 2018 12:00am
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