AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)
Nov 22, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2018-05-20
Shahbaz inaugurates 1180 Bhikki power plant

Shahbaz inaugurates 1180 Bhikki power plant

Chief Minister Punjab Muhammad Shahbaz Sharif Saturday inaugurated the complete functioning of the 1180 Bhikki power plant that is being added to the national grid. Bhikki power plant is the modern plant running on the gas, It has produced 3.1 billion uni
Published 20 May, 2018 12:00am
PSDP allocations 3.25 percent higher than those in FY17

PSDP allocations 3.25 percent higher than those in FY17

Allocations for federal Public Sector Development Programme (PSDP) to date in the current year are higher by 3.25 percent relative to the comparable period of 2016-17. Federal government released Rs 670.16 billion up to May 18, 2018 from its revised PSDP
Published 20 May, 2018 12:00am
PSDP allocations 3.25 percent higher than those in FY17

PSDP allocations 3.25 percent higher than those in FY17

Allocations for federal Public Sector Development Programme (PSDP) to date in the current year are higher by 3.25 percent relative to the comparable period of 2016-17. Federal government released Rs 670.16 billion up to May 18, 2018 from its revised PSDP
Published 20 May, 2018 12:00am
PSDP allocations 3.25 percent higher than those in FY17

PSDP allocations 3.25 percent higher than those in FY17

Allocations for federal Public Sector Development Programme (PSDP) to date in the current year are higher by 3.25 percent relative to the comparable period of 2016-17. Federal government released Rs 670.16 billion up to May 18, 2018 from its revised PSDP
Published 20 May, 2018 12:00am
Fata to be merged with KP: NSC

Fata to be merged with KP: NSC

A meeting of the National Security Committee (NSC) Saturday endorsed that the Federally Administered Tribal Areas (Fata) will be merged with Khyber Pakhtunkhwa.
Published 20 May, 2018 12:00am
Fata to be merged with KP: NSC

Fata to be merged with KP: NSC

A meeting of the National Security Committee (NSC) Saturday endorsed that the Federally Administered Tribal Areas (Fata) will be merged with Khyber Pakhtunkhwa.
Published 20 May, 2018 12:00am
Fata bill fails to sail through NA

Fata bill fails to sail through NA

The government's attempt to pass Fata Reforms bill from National Assembly sans its merger with Khyber Pakhtunkhwa is being viewed as an exercise in futility due to lack of required two thirds majority for the constitutional amendment following opposition
Published 20 May, 2018 12:00am
Fata bill fails to sail through NA

Fata bill fails to sail through NA

The government's attempt to pass Fata Reforms bill from National Assembly sans its merger with Khyber Pakhtunkhwa is being viewed as an exercise in futility due to lack of required two thirds majority for the constitutional amendment following opposition
Published 20 May, 2018 12:00am
LNG floating terminal: PQA barred from allocating ''unsafe'' site

LNG floating terminal: PQA barred from allocating ''unsafe'' site

The federal government has reportedly barred Port Qasim Authority (PQA) from allocating "unsafe" site to any company for establishing an LNG floating terminal, well informed sources told Business Recorder. M/s Elengy Terminal Pakistan Limited (Engr
Published 20 May, 2018 12:00am
LNG floating terminal: PQA barred from allocating 'unsafe' site

LNG floating terminal: PQA barred from allocating 'unsafe' site

The federal government has reportedly barred Port Qasim Authority (PQA) from allocating "unsafe" site to any company for establishing an LNG floating terminal, well informed sources told Business Recorder. M/s Elengy Terminal Pakistan Limited (Engr
Published 20 May, 2018 12:00am
LNG floating terminal: PQA barred from allocating 'unsafe' site

LNG floating terminal: PQA barred from allocating 'unsafe' site

The federal government has reportedly barred Port Qasim Authority (PQA) from allocating "unsafe" site to any company for establishing an LNG floating terminal, well informed sources told Business Recorder. M/s Elengy Terminal Pakistan Limited (Engr
Published 20 May, 2018 12:00am
World's first floating nuclear barge to power Russia's Arctic oil drive

World's first floating nuclear barge to power Russia's Arctic oil drive

To meet its growing electricity needs in its drive to develop oil resources in remote Arctic regions, Russia has built a floating nuclear power station, a project that detractors deride as a "Chernobyl on ice". Built in Saint Petersburg, the Akademik Lomo
Published 20 May, 2018 12:00am
World's first floating nuclear barge to power Russia's Arctic oil drive

World's first floating nuclear barge to power Russia's Arctic oil drive

To meet its growing electricity needs in its drive to develop oil resources in remote Arctic regions, Russia has built a floating nuclear power station, a project that detractors deride as a "Chernobyl on ice". Built in Saint Petersburg, the Akademik Lomo
Published 20 May, 2018 12:00am
Shutdown in IHK: Modi inaugurates Kishanganga project

Shutdown in IHK: Modi inaugurates Kishanganga project

Occupied Kashmir came to a virtual standstill Saturday as freedom fighters called for a shutdown to protest a visit by India's Prime Minister Narendra Modi to the Muslim-majority region gripped by deadly new tensions and clashes with rival Pakistan.
Published 20 May, 2018 12:00am
Shutdown in IHK: Modi inaugurates Kishanganga project

Shutdown in IHK: Modi inaugurates Kishanganga project

Occupied Kashmir came to a virtual standstill Saturday as freedom fighters called for a shutdown to protest a visit by India's Prime Minister Narendra Modi to the Muslim-majority region gripped by deadly new tensions and clashes with rival Pakistan.
Published 20 May, 2018 12:00am
Bigwigs fly Pakistan for Nawaz's way-out: Rashid

Bigwigs fly Pakistan for Nawaz's way-out: Rashid

Awami Muslim League chief Sheikh Rashid Ahmed has said key figures from important institutions of two or three neighbouring countries have visited Pakistan and requested for a way out for Nawaz Sharif related matters. He disclosed this in an interview wit
Published 20 May, 2018 12:00am
Bigwigs fly Pakistan for Nawaz's way-out: Rashid

Bigwigs fly Pakistan for Nawaz's way-out: Rashid

Awami Muslim League chief Sheikh Rashid Ahmed has said key figures from important institutions of two or three neighbouring countries have visited Pakistan and requested for a way out for Nawaz Sharif related matters. He disclosed this in an interview wit
Published 20 May, 2018 12:00am
Ex-Indian diplomat gets three-year jail for spying

Ex-Indian diplomat gets three-year jail for spying

Former Indian diplomat Madhuri Gupta, who had served at the Indian High Commission in Islamabad, was awarded three years in jail by a Delhi court which convicted her for passing on sensitive information to Pakistan, Aaj News reported Saturday. Additional
Published 20 May, 2018 12:00am
Ex-Indian diplomat gets three-year jail for spying

Ex-Indian diplomat gets three-year jail for spying

Former Indian diplomat Madhuri Gupta, who had served at the Indian High Commission in Islamabad, was awarded three years in jail by a Delhi court which convicted her for passing on sensitive information to Pakistan, Aaj News reported Saturday. Additional
Published 20 May, 2018 12:00am
The Weather

The Weather

The weather report on Saturday (May 19, 2018) and the forecast for Sunday (May 20, 2018).

Published 20 May, 2018 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (May 19, 2018).

Published 20 May, 2018 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (May 19, 2018)

Published 20 May, 2018 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 19, 2018).

Published 20 May, 2018 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (May 19, 2018).

Published 20 May, 2018 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (May 19, 2018).

Published 20 May, 2018 12:00am
THE RUPEE: gives up gains
Currency

THE RUPEE: gives up gains

The rupee failed to retain overnight gains against the dollar on the money market on Saturday in the process of trading activity, dealers said.
Published 20 May, 2018 12:00am
THE RUPEE: gives up gains
Currency

THE RUPEE: gives up gains

The rupee failed to retain overnight gains against the dollar on the money market on Saturday in the process of trading activity, dealers said.
Published 20 May, 2018 12:00am
European gasoline margins firm on US stocks draw

European gasoline margins firm on US stocks draw

Benchmark northwest European gasoline refining margins firmed on Thursday, supported by a big draw in US stocks last week and rising demand. US gasoline stocks were down sharply last week, falling by 3.8 million barrels, according to US Energy Information
Published 20 May, 2018 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Thursday, helped by stronger soyaoil prices and limited farmer selling. Saskatchewan farmers have made good seeding progress. Overall planting ahead of normal pace. July canola added $3.40 to $532.60 per tonne. The new-
Published 20 May, 2018 12:00am
Bangladesh tea prices up

Bangladesh tea prices up

Tea prices in Bangladesh climbed at the weekly auction due to strong demand and tight supplies. Bangladeshi tea fetched an average of 216.14 taka ($2.6) per kg at the new auction centre in Srimangal on Monday, compared with 213.09 taka at the previous sal
Published 20 May, 2018 12:00am
Indonesia's coffee harvest seen early; Vietnam's trade slows

Indonesia's coffee harvest seen early; Vietnam's trade slows

Indonesia's coffee premiums tightened on expectations of an early harvest this year, while trade in Vietnam was slow as prices in the London market fell, traders said on Thursday. Premiums for Indonesia's grade 4 defect 80 robusta retreated to $40-$50 a t
Published 20 May, 2018 12:00am
China's iron ore, coking coal fall for second day

China's iron ore, coking coal fall for second day

China's iron ore and other steelmaking raw materials slipped for a second session on Thursday, while analysts said they expect softer demand in the coming months as the country shifts its focus from heavy industries to services. The most-active iron ore f
Published 20 May, 2018 12:00am
Brazilian farmers looking to expand soyabean acreage

Brazilian farmers looking to expand soyabean acreage

Brazilian farmers looking to expand soyabean acreage next season to meet strong Chinese appetite will have to weigh rising land costs in farm country, growers and analysts said on a crop tour of fields in Mato Grosso. Producers in the country's No.1 grain
Published 20 May, 2018 12:00am
Indian rice prices fall; Vietnam's hit four-year high

Indian rice prices fall; Vietnam's hit four-year high

Rice prices in top exporter India fell this week to their lowest in five months as the rupee depreciated, while rates in Vietnam hit a four-year high amid stronger demand and limited supplies. India's 5 percent broken parboiled variety prices dropped by $
Published 20 May, 2018 12:00am
Trade activity rises on cotton market
Cotton

Trade activity rises on cotton market

Trading activity improved on the cotton market on Saturday despite tight supply of lint cotton, dealers said. The official spot rate was unchanged at Rs 7400, they added. In the ready session, around 3000 bales of cotton changed hands between Rs 6300-7500
Published 20 May, 2018 12:00am
South Korea's NOFI to buy feed wheat

South Korea's NOFI to buy feed wheat

South Korea's largest feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up to 69,000 tonnes of feed wheat, European traders said on Friday. The grain can be sourced from any origin and the tender deadline is May 18. Arriva
Published 20 May, 2018 12:00am
US wheat futures rise

US wheat futures rise

US wheat futures rose on Thursday, supported by concerns about dry conditions limiting harvest yields in key production areas around the world, traders said. Weak export demand limited the gains. The US Department of Agriculture said weekly export sales o
Published 20 May, 2018 12:00am
Soyameal lower on European feeds market

Soyameal lower on European feeds market

Soyameal on the European meals and feeds market edged lower, slipping on the back of a strong dollar and weaker CBOT soyameal futures a day earlier. South American soyameal was offered between $1 and $4 a tonne lower, with prices mostly fixed on Wednesday
Published 20 May, 2018 12:00am
Palm oil higher on European vegoils market
Vegetable Oil

Palm oil higher on European vegoils market

Palm oil on the European vegetable oils market rose on Thursday, tracking gains in Malaysian palm oil futures on bargain buying and as a weaker ringgit sparked hopes for improved export demand. Asking prices for palm oil were between $2.50 and $15 per ton
Published 20 May, 2018 12:00am
Intense rainfall hits Ivory Coast's cocoa mid-crop

Intense rainfall hits Ivory Coast's cocoa mid-crop

Above-average rainfall in some parts of Ivory Coast's southern cocoa-growing regions last week could affect the quality of mid-crop harvests, farmers said on Monday. The world's top cocoa producer is in the midst of the rainy season, and authorities said
Published 20 May, 2018 12:00am
Asian gasoline hits 3-1/2 month high

Asian gasoline hits 3-1/2 month high

Asia's gasoline crack hit a 3-1/2 month high of $9.86 a barrel on Thursday, driven by demand as Indonesia was seeking higher-than-usual volumes of cargoes from the spot market. Pertamina, Asia's top gasoline importer, was looking for at least 700,000 barr
Published 20 May, 2018 12:00am
Jordan buys 60,000 tonnes of wheat

Jordan buys 60,000 tonnes of wheat

Jordan's state grains buyer purchased 60,000 tonnes of hard milling wheat to be sourced from optional origins in a tender for up to 120,000 tonnes which closed on Wednesday, European traders said. It was bought at $224.50 a tonne c&f for shipment in the f
Published 20 May, 2018 12:00am
US soyabean futures lower

US soyabean futures lower

US soyabean futures fell to their lowest in 1-1/2 months on Thursday on pressure from signs of weak export demand, traders said. Soyameal futures also closed lower while soyaoil firmed as traders unwound long soyameal/short soyaoil spreads. The US Agricul
Published 20 May, 2018 12:00am
Brazil's 2018 coffee crop seen at record 58.04 million bags

Brazil's 2018 coffee crop seen at record 58.04 million bags

Brazil's 2018 coffee crop is expected to reach 58.04 million 60-kg bags, surpassing a previous record of 51.37 million bags in 2016, Brazil's agricultural statistics agency Conab said in a report on Thursday. Conab revised its January projection that had
Published 20 May, 2018 12:00am
Germany's wheat and rapeseed crops seen down

Germany's wheat and rapeseed crops seen down

The association of German farm cooperatives on Wednesday forecast that Germany's 2018 wheat crop would fall 2.0 percent from 2017 to 23.98 million tonnes. The cooperatives forecast Germany's 2018 winter rapeseed crop would fall 3.3 percent to 4.12 million
Published 20 May, 2018 12:00am
Taiwan buys 83,350 tonnes of US Wheat

Taiwan buys 83,350 tonnes of US Wheat

The Taiwan Flour Millers' Association has purchased 83,350 tonnes of milling wheat to be sourced from the United States in an international tender which closed on Wednesday, European traders said. The wheat was bought in two consignments for shipment from
Published 20 May, 2018 12:00am
EU wheat futures rise to one-week high

EU wheat futures rise to one-week high

European wheat futures rose to a one-week high on Thursday, supported by weakness in the euro and dry weather in several major wheat-growing zones worldwide. Benchmark December milling wheat on Paris-based Euronext settled up 2.50 euros, or 1.4 percent, a
Published 20 May, 2018 12:00am
Brazilian farmers selling corn as prices spike from drought
Currency

Brazilian farmers selling corn as prices spike from drought

Brazilian farmers are committing corn from the 2019 crop before the 2018 harvest concludes, locking in sharp price rises as a drought reduced output in Argentina as well as in fields of Brazil. "I've sold more of my 2019 corn than this year's product," sa
Published 20 May, 2018 12:00am
US bank stock gains may stall after two-year rally

US bank stock gains may stall after two-year rally

After two years of sharp gains for US bank stocks, investors betting on another big boost for 2018 may be disappointed unless loan growth accelerates or regulations slacken considerably. The S&P 500 bank sector index beat first quarter earnings estimates
Published 20 May, 2018 12:00am
US bank stock gains may stall after two-year rally

US bank stock gains may stall after two-year rally

After two years of sharp gains for US bank stocks, investors betting on another big boost for 2018 may be disappointed unless loan growth accelerates or regulations slacken considerably. The S&P 500 bank sector index beat first quarter earnings estimates
Published 20 May, 2018 12:00am
Greece plans more bond issues to shore up post-bailout future

Greece plans more bond issues to shore up post-bailout future

Greece wants to tap bond markets twice before year-end and may sell its first 10-year issue for a decade, in an effort to convince investors that it does not need any more external aid after its bailout programme ends in August, sources said. The heavily
Published 20 May, 2018 12:00am
Greece plans more bond issues to shore up post-bailout future

Greece plans more bond issues to shore up post-bailout future

Greece wants to tap bond markets twice before year-end and may sell its first 10-year issue for a decade, in an effort to convince investors that it does not need any more external aid after its bailout programme ends in August, sources said. The heavily
Published 20 May, 2018 12:00am
UAE firm plans Abu Dhabi-listed ETF to play Saudi equities boom

UAE firm plans Abu Dhabi-listed ETF to play Saudi equities boom

A United Arab Emirates financial firm plans to create an exchange-traded fund focused on Saudi Arabian equities and list it on the Abu Dhabi Securities Exchange, tapping into surging regional demand for Saudi shares. Only a few exchange-traded fund (ETFs)
Published 20 May, 2018 12:00am
UK draws record 37.8 billion stg investor demand for new 2071 bond

UK draws record 37.8 billion stg investor demand for new 2071 bond

Britain received a record 37.8 billion pounds ($51 billion) of demand at the launch of a new bond maturing in 2071, showing continued strong investor appetite for British government debt. The UK Debt Management Office said it would issue 6 billion pounds
Published 20 May, 2018 12:00am
UK draws record 37.8 billion stg investor demand for new 2071 bond

UK draws record 37.8 billion stg investor demand for new 2071 bond

Britain received a record 37.8 billion pounds ($51 billion) of demand at the launch of a new bond maturing in 2071, showing continued strong investor appetite for British government debt. The UK Debt Management Office said it would issue 6 billion pounds
Published 20 May, 2018 12:00am
Kazakhstan's new financial hub seeks IPO monopoly

Kazakhstan's new financial hub seeks IPO monopoly

Kazakhstan's new foreign investment hub the Astana International Financial Centre (AIFC) has asked the government for exclusive rights to public offerings of some of the country's most prized assets due to be sold later this year. The Central Asian nation
Published 20 May, 2018 12:00am
Kazakhstan's new financial hub seeks IPO monopoly

Kazakhstan's new financial hub seeks IPO monopoly

Kazakhstan's new foreign investment hub the Astana International Financial Centre (AIFC) has asked the government for exclusive rights to public offerings of some of the country's most prized assets due to be sold later this year. The Central Asian nation
Published 20 May, 2018 12:00am
US 10-year yield falls from near seven-year peak

US 10-year yield falls from near seven-year peak

US 10-year Treasury yields declined on Friday from a near seven-year high as buyers emerged following a bond market sell-off earlier this week spurred by worries about growing inflation and government borrowing. Some technical indicators suggested the Tre
Published 20 May, 2018 12:00am
US 10-year yield falls from near seven-year peak

US 10-year yield falls from near seven-year peak

US 10-year Treasury yields declined on Friday from a near seven-year high as buyers emerged following a bond market sell-off earlier this week spurred by worries about growing inflation and government borrowing. Some technical indicators suggested the Tre
Published 20 May, 2018 12:00am
Italian markets hammered by fears of government spending binge

Italian markets hammered by fears of government spending binge

Italy's long-term borrowing costs jumped to more than seven-month highs on Friday while stocks in Milan fell more than one percent after two anti-establishment parties pledged to increase spending in a deal to form a new coalition government. After the Le
Published 20 May, 2018 12:00am
TSX rises

TSX rises

The Toronto Stock Exchange's S&P/TSX rose 18.76 points, or 0.12 percent, to 16,162.31, extending its recent streak of higher closes to an 11th day. The biggest contributor to the TSX gain was TransCanada with 7.6 net index points. Health care was the top
Published 20 May, 2018 12:00am
Wall Street posts weekly loss as banks, chipmakers weigh

Wall Street posts weekly loss as banks, chipmakers weigh

The S&P 500 ended lower on Friday after a choppy trading session as bank and chipmaker stocks weighed on the index and investors grappled with US-China trade talks. All three major US stock indexes posted a weekly loss as the markets reacted to reports fr
Published 20 May, 2018 12:00am
IMF says Argentina loan terms under discussion
Currency

IMF says Argentina loan terms under discussion

The board of the International Monetary Fund on Friday concluded an informal meeting on a loan program for Argentina but offered scant new details on the nature of pending support for the troubled Latin American economy. In a statement, IMF Managing Direc
Published 20 May, 2018 12:00am
Campbell Soup CEO quits; company cuts forecast

Campbell Soup CEO quits; company cuts forecast

Campbell Soup Co Chief Executive Officer Denise Morrison unexpectedly stepped down on Friday, as the company issued a bleak forecast for the year and said it would embark on a review of its many brands. Campbell's shares slumped 12 percent in mid-afternoo
Published 20 May, 2018 12:00am
Kenya oil production on course after agreement on revenue share

Kenya oil production on course after agreement on revenue share

Kenya will start the small scale export of crude oil from its fields in the far northern county of Turkana in June after an agreement on how to share the revenue, averting delays, the presidency said on Saturday. Tullow Oil and its partner Africa Oil disc
Published 20 May, 2018 12:00am
Farmers worldwide struggle with rising fuel costs
Currency

Farmers worldwide struggle with rising fuel costs

Farmers worldwide are feeling the pinch as fuel costs rise to near four-year highs just as they plant and harvest their fields, eroding agricultural income already hamstrung by depressed crop prices. The agricultural sector from the United States to Russi
Published 20 May, 2018 12:00am
New York art sales near $3 billion

New York art sales near $3 billion

Global buyers have dropped nearly $3 billion on art in New York in two weeks, a record haul rooted in a billionaire thirst for trophies, Chinese purchasing power and growing diversification. Christie's chalked up $1.79 billion in sales, including every si
Published 20 May, 2018 12:00am
US gun lobby takes aim at 'gun-hating' banks Citi, BofA

US gun lobby takes aim at 'gun-hating' banks Citi, BofA

The US gun lobby is taking aim at "gun-hating" banks after Citigroup Inc and Bank of America said they would no longer provide certain banking services to gun-makers, according to industry lobbyists. The attack by Gun Owners of America and the National Ri
Published 20 May, 2018 12:00am
Liikanen declines to rule out ECB top job

Liikanen declines to rule out ECB top job

Bank of Finland Governor Erkki Liikanen declined on Saturday to rule out his candidacy for the job of head of the European Central Bank, although he said he was not campaigning for it. Liikanen, 67, has been seen as a potential compromise candidate from a
Published 20 May, 2018 12:00am
China steel capacity to be brought below 1 billion tonnes by 2025

China steel capacity to be brought below 1 billion tonnes by 2025

China will shut down more outdated steel plants and bring total capacity to less than 1 billion tonnes by 2025, the president of the country's steel industry association said, adding that national demand for the metal is set to decline gradually. With mor
Published 20 May, 2018 12:00am
BP chief sees shale, Opec cooling oil markets

BP chief sees shale, Opec cooling oil markets

BP Chief Executive Bob Dudley expects a flood of US shale and the reopening of Opec taps to cool the oil market after crude rose above $80 a barrel this week. US President Donald Trump's decision to exit an international nuclear deal with Iran and revive
Published 20 May, 2018 12:00am
Kazakhstan aims to end row over Karachaganak field within a month

Kazakhstan aims to end row over Karachaganak field within a month

Kazakhstan aims to settle its profit-sharing dispute with energy majors developing the Karachaganak gas condensate field within a month, the energy minister said on Thursday. The former Soviet republic expects a large one-off payment from the companies an
Published 20 May, 2018 12:00am
US says China trade talks going well, but 'no deal yet'

US says China trade talks going well, but 'no deal yet'

President Donald Trump's top economic aide said talks to ease a major trade dispute between the United States and China were "going well," but a deal remained elusive on Friday. Trump has demanded China reduce its trade surplus with the United States, spa
Published 20 May, 2018 12:00am
Vitol, Glencore, Shell in running for Petrobras' Nigerian assets

Vitol, Glencore, Shell in running for Petrobras' Nigerian assets

The world's three largest oil traders are competing to buy the African arm of Brazil's Petrobras that owns stakes in two major Nigerian offshore oil blocks, industry and banking sources with knowledge of the matter said, after submitting bids earlier this
Published 20 May, 2018 12:00am
Iran says oil export drop not expected if EU saves nuclear deal

Iran says oil export drop not expected if EU saves nuclear deal

Iranian Oil Minister Bijan Zanganeh said on Saturday that US President Donald Trump's decision to quit a multinational nuclear deal would not affect Tehran's oil exports if the EU could salvage the pact. "Every new decision in Opec needs unanimity... I be
Published 20 May, 2018 12:00am
LatAm currencies to recoup recent losses
Currency

LatAm currencies to recoup recent losses

Latin American currencies will likely recoup much of their recent losses in coming months, the latest Reuters poll of currency market strategists showed, casting doubt over warnings of a 2013-style tantrum. Forecasts for where the six main Latin American
Published 20 May, 2018 12:00am
Canadian dollar weakens
Currency

Canadian dollar weakens

The Canadian dollar weakened against the greenback on Friday as an uncertain outlook for the NAFTA trade pact and weaker-than-expected domestic inflation data clipped expectations for a Bank of Canada interest rate hike as early as this month. Mexico's Ec
Published 20 May, 2018 12:00am
Dollar touches five-month peak as euro slides on Italy concerns
Currency

Dollar touches five-month peak as euro slides on Italy concerns

The dollar rose to a five-month high against a basket of major currencies on Friday, helped by weakness in the euro as investors fretted about political uncertainty in Italy. The dollar index has climbed for five straight sessions, posting a 1.2 percent w
Published 20 May, 2018 12:00am
Brazilian real, Mexican peso dip
Currency

Brazilian real, Mexican peso dip

The Brazilian and Mexican currencies weakened and stocks across Latin America fell on Friday as a global emerging-market selloff drove many investors to unwind bets on stronger currencies despite increased central bank intervention. The real fell as much
Published 20 May, 2018 12:00am
Speculators cut net short dollar bets; bitcoin shorts up
Currency

Speculators cut net short dollar bets; bitcoin shorts up

Speculators' net short dollar position slid to its lowest level in 12 weeks, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday. The value of the net short dollar position was $9.82 billion in the week en
Published 20 May, 2018 12:00am
Investors bearish on most Asian currencies as US yields climb
Currency

Investors bearish on most Asian currencies as US yields climb

Investors turned bearish on most Asian currencies in the past two weeks as surging US bond yields pushed the dollar higher, a Reuters poll showed, with short positions in the Indian Rupee at the highest level in 9 months. The yield on the 10-year US Treas
Published 20 May, 2018 12:00am
Previous Day