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Archive - 2011-08-19
Sugar soars above 30 cents
Commodities

Sugar soars above 30 cents

NEW YORK : Raw sugar futures soared above the 30-cent mark on Friday, on a combination of chart-based buying, a smal
Published 19 Aug, 2011 05:07pm
No criminal to be spared: Zardari
Top News

No criminal to be spared: Zardari

ISLAMABAD : A high level meeting on the law and order situation in Karachi held here at the Aiwan-e-Sadr on Friday with
Published 19 Aug, 2011 04:01pm
ISE-10 witnesses bearish trend
Markets

ISE-10 witnesses bearish trend

ISLAMABAD: The Islamabad Stock Exchange (ISE-10) witnessed bearish trend here on Friday as the index plunged by 79.34 po
Published 19 Aug, 2011 03:44pm
Pak-US relations improving:Ahmed Mukhtar
Top News

Pak-US relations improving:Ahmed Mukhtar

GUJRANWALA: Defence Minister Chaudhary Ahmed Mukhtar Friday said that Pak-US relations were fast improving, adding that
Published 19 Aug, 2011 03:30pm
test
Top News

test

The  766th Independent Infantry Regiment was a  light infantry regiment of the  North Korean People's Army that exi
Published 19 Aug, 2011 03:00pm
HBL posts higher profits
Top News

HBL posts higher profits

KARACHI : Habib Bank Ltd (HBL) has posted a higher profit after tax of Rs10.009 billion for the half year ending June 3
Published 19 Aug, 2011 10:03am
Apple's China revenues surpass Lenovo
Top News

Apple's China revenues surpass Lenovo

TAIPEI : Apple's second quarter revenue in greater China -- an area including Taiwan and Hong Kong -- have surpass
Published 19 Aug, 2011 09:15am
Oil prices slide further
Energy

Oil prices slide further

LONDON : Oil prices fell sharply for a second day running on Friday, mirroring the situation across world stock markets,
Published 19 Aug, 2011 09:10am
World stocks extend freefall
Financial

World stocks extend freefall

LONDON : Global stocks tumbled further and safe bet gold surged to new records Friday on mounting fears of fresh recessi
Published 19 Aug, 2011 08:40am
Italian stocks drop over 2pc
Financial

Italian stocks drop over 2pc

MILAN: Italian stocks opened down on Friday and accelerated their losses to over 2.0 percent in early trading on growi
Published 19 Aug, 2011 07:30am
NBP sees steady growth
BR Research

NBP sees steady growth

The bottom-line performance of the countrys largest commercial bank in 1HCY11 remained pale in comparison to the other giant banks. The Na
Published 19 Aug, 2011 12:00am
Swiss franc climbs

Swiss franc climbs

The Swiss franc climbed on Wednesday and could hit record highs against the dollar and euro in days ahead if new measures by the Swiss National Bank and Swiss government fail to slow the currency's rise. While the SNB announced an expansion of its liquidi
Published 19 Aug, 2011 12:00am
Early trade in New York: dollar, franc, yen gain

Early trade in New York: dollar, franc, yen gain

The dollar, yen, and Swiss franc climbed on Thursday as worries about a slowing global economy and European banks' exposure to the eurozone debt crisis drove investors to the relative safety of these currencies. The dollar and euro traded mixed against th
Published 19 Aug, 2011 12:00am
Swiss franc falls in London

Swiss franc falls in London

The Swiss franc fell against the euro and the dollar on Thursday, with traders citing talk the Swiss National Bank was intervening in the forwards market as part of efforts to curb the surging currency. The dollar rose against commodity-linked currencies
Published 19 Aug, 2011 12:00am
Swiss franc lower in Asia

Swiss franc lower in Asia

The Swiss franc fell against the euro and the dollar on Thursday, with traders citing talk that the Swiss National Bank was adding liquidity via the currency forwards market. The Swiss franc had been edging higher against the euro for much of the Asian tr
Published 19 Aug, 2011 12:00am
Australian and New Zealand dollars dip

Australian and New Zealand dollars dip

The Australian and New Zealand dollars retreated on Thursday as equity weakness across the Asian region wore away at recent gains in a cautious environment. The Aussie dollar dipped 0.5 percent to $1.0480, dragged lower by S&P futures down 0.8 pct and Kor
Published 19 Aug, 2011 12:00am
Interbank strains hit record

Interbank strains hit record

A key gauge of interbank strains hit its highest in a year on Thursday as banks grew more reluctant to lend dollars to European counterparts after euro zone leaders failed to convince markets they have contained the bloc's debt crisis. A Franco-German pro
Published 19 Aug, 2011 12:00am
FTSE makes worst one-day fall since March 2009

FTSE makes worst one-day fall since March 2009

Britain's top shares dropped on Thursday in their worst one-day fall since March 2009, led by banks on concern the growth outlook for global economies was slowing and worries about contagion in the eurozone debt crisis. Stocks extended falls after August
Published 19 Aug, 2011 12:00am
Indian shares fall

Indian shares fall

Indian shares fell as much as 1.6 percent on Thursday, in tandem with weak Asian peers, dragged down by worries over the health of the global economy and on expectations domestic monetary policy will be tightened further despite risks to growth. India's t
Published 19 Aug, 2011 12:00am
European shares tumble

European shares tumble

European equities suffered their biggest daily fall in two and a half years on Thursday, as a slew of downbeat US data cast further doubt on the strength of the recovery in the world's biggest economy. German shares fell 5.8 percent, underperfoming the wi
Published 19 Aug, 2011 12:00am
Hong Kong, China shares slide

Hong Kong, China shares slide

China shares slipped on Thursday, dragging Hong Kong shares into the red as spooked investors sold off property-related stocks after Beijing announced details of a proposed extension of home purchasing curbs to second and third-tier cities. Official data
Published 19 Aug, 2011 12:00am
Seoul shares decline

Seoul shares decline

Seoul shares snapped a two-day gaining streak on Thursday, with institutional investors dumping tech issues after Dell Inc's disappointing outlook. The Korea Composite Stock Price Index closed down 1.7 percent to 1,860.58 points. The KOSPI 200 September f
Published 19 Aug, 2011 12:00am
Treasuries flatten

Treasuries flatten

The US yield curve flattened on Wednesday as near-zero short-term interest rates pushed investors to buy longer-dated bonds to get a higher return. Two-year notes offered a return of 20 basis points, or 0.2 percentage point, and three-year notes offered a
Published 19 Aug, 2011 12:00am
Treasuries flatten

Treasuries flatten

The US yield curve flattened on Wednesday as near-zero short-term interest rates pushed investors to buy longer-dated bonds to get a higher return. Two-year notes offered a return of 20 basis points, or 0.2 percentage point, and three-year notes offered a
Published 19 Aug, 2011 12:00am
Australian shares down

Australian shares down

Australian stocks fell 1.2 percent on Thursday as miners and energy firms sank on softer copper and oil prices, and banks recoiled in a cautious session ahead of clues to economic strength in the United States. US consumer prices, existing home sales and
Published 19 Aug, 2011 12:00am
Dow, S&P rise: tech shares fall

Dow, S&P rise: tech shares fall

Tech shares fell on Wednesday after Dell's disappointing sales outlook fanned worries weak economic growth will hurt earnings in the third quarter. The Dow and S&P indices ended little changed in an up-and-down session where investors sold growth sectors
Published 19 Aug, 2011 12:00am
Thursday's afternoon trade: Wall Street sinks

Thursday's afternoon trade: Wall Street sinks

US stocks sank on Thursday as data fuelled worries the economy was weakening and bank shares tumbled on fears the European financial crisis could spread havoc to other parts of the world. The losses extended a slide in stocks that began in late July, with
Published 19 Aug, 2011 12:00am
Nikkei stays down

Nikkei stays down

Japan's Nikkei stock average fell for a second straight day on Thursday and dropped below the closely watched 9,000 line, hurt by the yen's persistent strength and fears the United States might be heading for another recession, with many investors on the
Published 19 Aug, 2011 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks fell 1.64 percent on Thursday, posting their worst percentage loss in nearly two weeks, led by Acer and other PC makers as a cautious outlook from Dell sparked jitters over the outlook for US and European tech spending.
Published 19 Aug, 2011 12:00am
South East Asian markets: Indonesia and Philippines rise

South East Asian markets: Indonesia and Philippines rise

Some Southeast Asian stock markets gained on Thursday as optimism about regional growth bolstered demand for consumer and bank stocks but a bearish outlook in the technology sector, after Dell's disappointing outlook, hurt related sectors.
Published 19 Aug, 2011 12:00am
US regional factory activity hits 2-1/2 years low

US regional factory activity hits 2-1/2 years low

Factory activity in the US Mid-Atlantic region slumped to a nearly 2-1/2 year low in August and home resales unexpectedly dropped in July, dashing hopes for a quick revival in economic growth. Other data on Thursday also pointed to a darker outlook for th
Published 19 Aug, 2011 12:00am
Foster's rejects $10 billion SABMiller bid, again

Foster's rejects $10 billion SABMiller bid, again

Australian brewer Foster's rejected a $10 billion offer from rival SABMiller for the second time as shareholders hold out for a better offer from the global brewing giant. SABMiller announced on Wednesday it would go directly to shareholders to gain about
Published 19 Aug, 2011 12:00am
Iraq's core inflation rises 7.1 percent

Iraq's core inflation rises 7.1 percent

Iraq's core annual inflation rate quickened to 7.1 percent in July from 6.4 percent in June, driven mainly by higher housing rental prices and an increase in the cost of building materials, a central bank official said on Thursday. Deputy Governor Mudher
Published 19 Aug, 2011 12:00am
Foreigners buy short-term yen bills of record amount

Foreigners buy short-term yen bills of record amount

Foreign investors flocked to Japanese short-term bills last week, spending a record $39 billion on the debt as they looked to take advantage of higher yields than those offered in the United States as well as the strength of the yen. Foreign investors, in
Published 19 Aug, 2011 12:00am
Bangladesh inflation hit 42-month high

Bangladesh inflation hit 42-month high

Bangladesh's annual inflation rate climbed to a three-and-a-half-year high in July, fired up by both food and non-food prices, government data shows, and officials said August's rate could be even higher. Inflation accelerated to 10.96 percent in July fro
Published 19 Aug, 2011 12:00am
Weak UK retail sales add to recovery risks

Weak UK retail sales add to recovery risks

British retail sales barely grew in July as cash-strapped consumers cut back on spending, underscoring the risks for the UK's already fragile economic recovery. A weakening labour market and rising inflation are expected to continue to restrain consumer s
Published 19 Aug, 2011 12:00am
Biden tells China cooperation key for global economy

Biden tells China cooperation key for global economy

China and the United States share a responsibility for boosting global market confidence, Chinese Vice President Xi Jinping told visiting US Vice President Joe Biden in talks on Thursday that focused on shoring up trust between the two big powers. Vice Pr
Published 19 Aug, 2011 12:00am
India's Bharti unveils $220 tablet challenger to iPad

India's Bharti unveils $220 tablet challenger to iPad

India's communications giant Bharti Enterprises said Thursday it had launched a $220 tablet computer as a domestic challenger to Apple's iPad. Bharti's Beetel Magiq tablet is the latest entry as the so-called "tablet war" heats up in the nascent market wh
Published 19 Aug, 2011 12:00am
Japan's exports stutter, business mood up

Japan's exports stutter, business mood up

Recovery in Japan's exports slowed in July as slackening overseas demand and the yen's strength weigh just as the economy is about to pull out of a recession triggered by a massive earthquake and tsunami that struck in March. Exports inched up from June a
Published 19 Aug, 2011 12:00am
US officials investigating Standard & Poor's

US officials investigating Standard & Poor's

The US Justice Department is investigating top ratings agency Standard & Poor's and its practices regarding mortgage securities in the run-up to the financial crisis, The New York Times reported Thursday. According to the paper, the probe began before S&P
Published 19 Aug, 2011 12:00am
HKEx in joint venture talks with Shanghai, Shenzhen exchanges

HKEx in joint venture talks with Shanghai, Shenzhen exchanges

The Hong Kong stock exchange said it was in talks with its peers in Shanghai and Shenzhen to set up a joint venture for equity derivatives and index compilations, a move that would represent the first concrete link between three exchanges focused on China
Published 19 Aug, 2011 12:00am
Absolute return funds no sure refuge

Absolute return funds no sure refuge

Absolute return funds could be turning into Europe's next investment mis-selling row. As freefalling equity and bond markets ravage people's savings, private investors globally are piling into the funds, which aim to deliver positive returns whether marke
Published 19 Aug, 2011 12:00am
Absolute return funds no sure refuge

Absolute return funds no sure refuge

Absolute return funds could be turning into Europe's next investment mis-selling row. As freefalling equity and bond markets ravage people's savings, private investors globally are piling into the funds, which aim to deliver positive returns whether marke
Published 19 Aug, 2011 12:00am
Japan MoF, BoJ meet in warning to market

Japan MoF, BoJ meet in warning to market

Senior finance ministry and Bank of Japan officials discussed the yen on Thursday in a sign that Tokyo does not want currency traders to drop their guard against additional intervention to slow its gains. The BoJ could ease monetary policy further dependi
Published 19 Aug, 2011 12:00am
Financial derivatives made easy

Financial derivatives made easy

The term "Derivative contract" is well-known in all developed countries, not only because of its huge market size and large trading volumes, but also because of its hand in greasing the great financial crisis of 2008.
Published 19 Aug, 2011 12:00am
Financial derivatives made easy

Financial derivatives made easy

The term "Derivative contract" is well-known in all developed countries, not only because of its huge market size and large trading volumes, but also because of its hand in greasing the great financial crisis of 2008.
Published 19 Aug, 2011 12:00am
PIA's clarification

PIA's clarification

PIA clarifies a news item appearing in a section of the press regarding delays of PIA flights. Passengers Safety is PIA's foremost priority. All aircraft are maintained and checked as per international standards by PIA Engineering after which their airwor
Published 19 Aug, 2011 12:00am
Funds for uplift schemes of flood-hit districts frozen

Funds for uplift schemes of flood-hit districts frozen

Sindh Chief Minister Syed Qaim Ali Shah has directed the authorities of Planning and Development (P&D) department to stop working on new and on-going development schemes of flood-affected districts included in ADP 2011-12, until the next order.
Published 19 Aug, 2011 12:00am
Pakistan in dire need of market access to regional states: KCCI

Pakistan in dire need of market access to regional states: KCCI

Vice President Karachi Chamber of Commerce and Industry (KCCI) Junaid Esmail Makda has said that Pakistan was in dire need of market access to regional countries vis-à-vis India, Afghanistan, Central Asian Republics, Iran etc as the war against terror had
Published 19 Aug, 2011 12:00am
25 percent blood demand increased in Karachi

25 percent blood demand increased in Karachi

There has been a sharp increase in demand for blood in the metropolis of Sindh, owing to the rising wave of violence. There are 83 blood banks operating in the city and 306 across the country, which supply blood for patients with thalassemia and other dis
Published 19 Aug, 2011 12:00am
SSUET offers support to KCCI in producing entrepreneur

SSUET offers support to KCCI in producing entrepreneur

Sir Syed Univer-sity of Engineering and Technology (SSUET) Chancellor Z. A. Nizami has offered all out support towards the objective of Karachi Chamber of Commerce and Industry (KCCI) in bringing the graduating youth into the field of entrepreneurship.
Published 19 Aug, 2011 12:00am
Law, order, price hike keep customers away from markets

Law, order, price hike keep customers away from markets

Extraordinary high prices of cloths, readymade garments, food and other essential items as well as fast declining law-and-order situation have compelled majority of people to stay away from markets although only 12 days left in Eid-ul-Fitr. Preparations f
Published 19 Aug, 2011 12:00am
APC encourages users to support authorised Distributors

APC encourages users to support authorised Distributors

APC by Schneider Electric, a global leader in integrated critical power and cooling services, has lodged support for its authorised distributors in the Pakistan and Afghanistan region, urging customers and APC resellers to do the same.
Published 19 Aug, 2011 12:00am
Man commits suicide

Man commits suicide

A man committed suicide due to poverty on Thursday, 30-year-old Muhammad Gulzar of Gharibabad took his own life after hanging himself with a ceiling fan. Another incident, Muhammad Asim of Sanjarpur was killed after being hit by a tractor-trolley.
Published 19 Aug, 2011 12:00am
Quaid-i-Azam Academy to celebrate Independence Day

Quaid-i-Azam Academy to celebrate Independence Day

Quaid-i-Azam Academy, Karachi is holding a function to celebrate 64th Birth Anniversary of Pakistan (14th August 2011) in its Jinnah Hall now on Saturday 20th August 2011 at 10:30am. Eminent scholars, speakers including Dr Shehla Kazmi, Acting Director, Q
Published 19 Aug, 2011 12:00am
KESC launches disconnection drive

KESC launches disconnection drive

Karachi Electric Supply Company (KESC) has launched a strict disconnection drive for recovery of an unprecedentedly huge outstanding amount of over Rs 37 billion against defaulting residential and commercial customers. Under the drive, electricity supply
Published 19 Aug, 2011 12:00am
Firmness seen on cotton market

Firmness seen on cotton market

Persisting drought in large of cotton tracts in Taxas, disbelief in latest United States Department of Agriculture (USAD) report on higher supply, carryover of cotton and lesser consumption in the 2011-2012 season, and now the sizeabale floods in Sindh an
Published 19 Aug, 2011 12:00am
Firmness seen on cotton market

Firmness seen on cotton market

Persisting drought in large of cotton tracts in Taxas, disbelief in latest United States Department of Agriculture (USAD) report on higher supply, carryover of cotton and lesser consumption in the 2011-2012 season, and now the sizeabale floods in Sindh an
Published 19 Aug, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Wednesday, following soyabeans and crude oil higher. Improving Canada crop prospects seen keeping gains more modest than soyabeans' advances - trader. Alberta crop yields expected to be above average; 69 percent of cano
Published 19 Aug, 2011 12:00am
Rates remain range-bound amid moderate trading on cotton market

Rates remain range-bound amid moderate trading on cotton market

Prices were firm amid moderate trading on the cotton market on Thursday, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 6,400, they said. In the ready business nearly 7,000 bales of cotton changed between Rs 6200
Published 19 Aug, 2011 12:00am
Oil cake market rates

Oil cake market rates

The December vaida remained up while the January vaida was unchanged on the forward cottonseed oilcake market on Thursday in process of trading, dealers said. The December contract that had ended at Rs 1314.50 commenced with a gain of 30 paisa to Rs 1314.
Published 19 Aug, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 127,657 tonnes of cargo including 104,211 tonnes of import cargo, 23,446 tonnes of export cargo and 4,002 loaded & empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 104,211 tonnes com
Published 19 Aug, 2011 12:00am
HRW Wheat bids steady

HRW Wheat bids steady

Hard red winter wheat basis bids held steady Thursday in a mostly quiet market as farmers focused on getting fields ready for fall seeding. Kansas City Board of Trade HRW wheat closed with the September up 5-3/4 cents at $8.23-1/4 a bushel. USDA said week
Published 19 Aug, 2011 12:00am
Slow activity seen on grain market due to traders' strike

Slow activity seen on grain market due to traders' strike

Trading activity came down sharply on the wholesale grain market on Thursday owing to traders' strike in the city against the extortion, dealers said. On rice sector Irri-6 Sindh dropped Rs 25 to Rs 3700-3800 in the absence of normal attendance due to sho
Published 19 Aug, 2011 12:00am
Philippines to export more sugar to US

Philippines to export more sugar to US

The Philippines' non-US-quota sugar exports nearly doubled over the past week to about 121,000 tonnes, the industry regulator said on Thursday, with the United States leading the buyers with an additional order for 39,000 tonnes. Japan bought 4,000 tonnes
Published 19 Aug, 2011 12:00am
South Africa extends freeze on shale gas drilling

South Africa extends freeze on shale gas drilling

South Africa's mining minister on Thursday said no decision will be made on controversial shale gas prospecting until next year with an existing moratorium extended by six months. Minister Susan Shabangu froze all new applications and decisions on lodged
Published 19 Aug, 2011 12:00am
London skyscraper gamble faces low tenant appetite

London skyscraper gamble faces low tenant appetite

A boom in central London skyscraper construction risks being undermined by a confluence of global economic woes that has turned big-ticket speculative developments into gambles linked to sparse tenant appetite. "These developers are rolling very big dice,
Published 19 Aug, 2011 12:00am
Taiwan economy sees strong growth

Taiwan economy sees strong growth

Taiwan's economy grew a better-than-expected 5.02 percent in the second quarter of 2011 due to strong exports and domestic spending, but it is losing momentum, the government said Thursday. The figure was higher than the 4.88 percent growth figure given w
Published 19 Aug, 2011 12:00am
South Korean banks temporarily restrain household lending

South Korean banks temporarily restrain household lending

Several major South Korean banks have temporarily halted fresh household lending and some credit loans from this week in an effort to comply with government guidelines to contain household debt, bank officials said on Thursday. The move comes after the au
Published 19 Aug, 2011 12:00am
Air Berlin CEO quits after second quarter loss

Air Berlin CEO quits after second quarter loss

Air Berlin founder and chief executive Joachim Hunold quit on Thursday after the low-cost carrier posted a quarterly loss and cut its network in the quest for a first annual profit since 2007. If the board accepts Hunold's suggestion, Hartmut Mehdorn, the
Published 19 Aug, 2011 12:00am
Air Berlin CEO quits after second quarter loss

Air Berlin CEO quits after second quarter loss

Air Berlin founder and chief executive Joachim Hunold quit on Thursday after the low-cost carrier posted a quarterly loss and cut its network in the quest for a first annual profit since 2007. If the board accepts Hunold's suggestion, Hartmut Mehdorn, the
Published 19 Aug, 2011 12:00am
US MIDDAY: gold rallies two percent

US MIDDAY: gold rallies two percent

Gold rallied 2 percent to new high above $1,820 an ounce on Thursday, after US economic data pointed to a stalled economy, while renewed concern about the health of European banks brought safe-haven buying. Bullion's fourth consecutive daily rise came aft
Published 19 Aug, 2011 12:00am
US MIDDAY: copper lower

US MIDDAY: copper lower

The September COMEX contract settled with a 6.60-cent loss at $3.9660 per lb, after moving between $3.9485 and $4.0430 on Thursday. Copper shed more than 2 percent of its value on Thursday, as commodities crumbled under the weight of double-dip recession
Published 19 Aug, 2011 12:00am
US MIDDAY: grains tumble

US MIDDAY: grains tumble

US grain prices tumbled early on Thursday as investors fled to safe havens such as gold amid renewed concerns over global growth, with wheat sliding more than 2 percent to snap its longest rally in six months. Fundamentals remained mostly bullish for whea
Published 19 Aug, 2011 12:00am
Gold moves up in Asia

Gold moves up in Asia

Gold edged higher on Thursday on persistent worries about eurozone debt woes and slower global growth, defying a rebound in the dollar. Spot gold gained 0.3 percent to $1,793.70 an ounce by 0646 GMT, headed for a fourth session of gains. It was only 1.1 p
Published 19 Aug, 2011 12:00am
US gold rises

US gold rises

Gold rose on Wednesday on a combination of increased inflationary pressure and ideas this week's Franco-German proposals will not solve the eurozone debt crisis. The metals third straight rise came as a report showed US core producer prices rose at their
Published 19 Aug, 2011 12:00am
Copper extends losses

Copper extends losses

Copper fell on Thursday as disappointing US macroeconomic data reinforced worries about an economic slowdown and prospects for growth and demand, with a stronger dollar also undermining sentiment. Benchmark copper closed at $8,774 a tonne, down from $8,97
Published 19 Aug, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

The most-active November copper contract on the Shanghai Futures Exchange fell 0.2 percent to close at 66,700 yuan per tonne on Thursday. "In the short term, I think copper is range-bound between 63,500-67,500 yuan on the ShFE and $8,600-$9,000 on the LME
Published 19 Aug, 2011 12:00am
US copper soars

US copper soars

September COMEX contract rose 3.80 cents to settle at $4.0320, after hitting its own 1-1/2-week peak at $4.0785 on Wednesday. Commodity investors rode a wave of confidence in global equity markets, with stronger outlooks and results from US retailers feed
Published 19 Aug, 2011 12:00am
Gold soars, stocks sink as data roils markets

Gold soars, stocks sink as data roils markets

Renewed jitters over Europe's debt crisis and a raft of weak US economic data sparked a rout in global equities on Thursday while driving investors to the safety of gold and US government bonds. Spot gold prices and the yield on benchmark US, British and
Published 19 Aug, 2011 12:00am
Brent oil drops nearly $4 as recession fears grow

Brent oil drops nearly $4 as recession fears grow

Brent crude oil fell nearly $4 a barrel on Thursday as a raft of weak US economic data provided a fresh blow to shaky investor confidence, while US crude's losses extended to 14 percent so far in August. Equities plunged, volatility jumped and gold hit a
Published 19 Aug, 2011 12:00am
Gold soars, stocks sink as data roils markets

Gold soars, stocks sink as data roils markets

Renewed jitters over Europe's debt crisis and a raft of weak US economic data sparked a rout in global equities on Thursday while driving investors to the safety of gold and US government bonds. Spot gold prices and the yield on benchmark US, British and
Published 19 Aug, 2011 12:00am
Soft commodities ease

Soft commodities ease

ICE raw sugar futures fell on Thursday, weighed by the stronger US dollar and as investors once again fretted about the stalling global economic recovery. Arabica coffee futures on ICE were also lower, consolidating gains from Wednesday's short-covering r
Published 19 Aug, 2011 12:00am
Gold soars, stocks sink as data roils markets

Gold soars, stocks sink as data roils markets

Renewed jitters over Europe''s debt crisis and a raft of weak US economic data sparked a rout in global equities on Thursday while driving investors to the safety of gold and US government bonds. Spot gold prices and the yield on benchmark US, British and
Published 19 Aug, 2011 12:00am
Tokyo and Shanghai rubber decline

Tokyo and Shanghai rubber decline

Key Tokyo rubber futures settled nearly flat on Thursday, with investors lacking fresh incentives to break out of ranges and as worries about the yen's strength and weak technicals weighed on sentiment. The benchmark rubber contract on the Tokyo Commodity
Published 19 Aug, 2011 12:00am
Morgan Stanley cuts global growth view, eyes ECB

Morgan Stanley cuts global growth view, eyes ECB

The United States and eurozone are "dangerously close to recession", Morgan Stanley said on Thursday, criticising policymakers and predicting the European Central Bank will have to reverse its rates policy. The Morgan Stanley research note, which cut glob
Published 19 Aug, 2011 12:00am
Malaysian palm oil flat

Malaysian palm oil flat

Malaysian palm oil futures ended little changed on Thursday as expectations of higher demand and lower output were offset by lingering worries about global economic growth. The benchmark November contract on the Bursa Malaysia Derivatives Exchange ended 0
Published 19 Aug, 2011 12:00am
Morgan Stanley cuts global growth view, eyes ECB

Morgan Stanley cuts global growth view, eyes ECB

The United States and eurozone are "dangerously close to recession", Morgan Stanley said on Thursday, criticising policymakers and predicting the European Central Bank will have to reverse its rates policy. The Morgan Stanley research note, which cut glob
Published 19 Aug, 2011 12:00am
New York coffee and sugar surge

New York coffee and sugar surge

Raw sugar futures surged to close up more than 5 percent on Wednesday, while arabica coffee saw its biggest one-day gain in 4-1/2 months as funds and investors covered their shorts as the world stock markets rose. US cocoa also saw short-covering gains an
Published 19 Aug, 2011 12:00am
Morgan Stanley cuts global growth view, eyes ECB

Morgan Stanley cuts global growth view, eyes ECB

The United States and eurozone are "dangerously close to recession", Morgan Stanley said on Thursday, criticising policymakers and predicting the European Central Bank will have to reverse its rates policy. The Morgan Stanley research note, which cut glob
Published 19 Aug, 2011 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures ended lower on Thursday due to investor sales sparked by global macroeconomic worries, but talk of crop problems in Pakistan and possibly top consumer China pared market losses, brokers said. Jitters over Europe's debt crisis and a raft of
Published 19 Aug, 2011 12:00am
ADB chief says no Asian currency integration soon

ADB chief says no Asian currency integration soon

Asian Development Bank president Haruhiko Kuroda said Thursday any Asian currency integration is a long way off and cast doubt on the Chinese yuan emerging as a regional unit. The idea of a single currency for Asia and of integrating the region's economie
Published 19 Aug, 2011 12:00am
New York cotton

New York cotton

Wednesday's closing prices of New York cotton in US cents/lb.

Published 19 Aug, 2011 12:00am
ADB chief says no Asian currency integration soon

ADB chief says no Asian currency integration soon

Asian Development Bank president Haruhiko Kuroda said Thursday any Asian currency integration is a long way off and cast doubt on the Chinese yuan emerging as a regional unit. The idea of a single currency for Asia and of integrating the region's economie
Published 19 Aug, 2011 12:00am
New York cotton

New York cotton

Wednesday's closing prices of New York cotton in US cents/lb.

Published 19 Aug, 2011 12:00am
ADB chief says no Asian currency integration soon

ADB chief says no Asian currency integration soon

Asian Development Bank president Haruhiko Kuroda said Thursday any Asian currency integration is a long way off and cast doubt on the Chinese yuan emerging as a regional unit. The idea of a single currency for Asia and of integrating the region''s economi
Published 19 Aug, 2011 12:00am
LHC admits petition seeking Prime Minister's disqualification

LHC admits petition seeking Prime Minister's disqualification

The Lahore High Court here on Thursday, admitting a petition that seek the disqualification of Prime Minister Syed Yousuf Raza Gilani for regular hearing issued notices for September 08 to Attorney General of Pakistan and other respondents.
Published 19 Aug, 2011 12:00am
LHC admits petition seeking Prime Minister's disqualification

LHC admits petition seeking Prime Minister's disqualification

The Lahore High Court here on Thursday, admitting a petition that seek the disqualification of Prime Minister Syed Yousuf Raza Gilani for regular hearing issued notices for September 08 to Attorney General of Pakistan and other respondents.
Published 19 Aug, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

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
Published 19 Aug, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

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
Published 19 Aug, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (August 18, 2011).

Published 19 Aug, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (August 18, 2011).

Published 19 Aug, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (August 18, 2011).

Published 19 Aug, 2011 12:00am
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