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Archive - 2017-03-14
Privatization of DISCOs:
Miscellaneous

Privatization of DISCOs:

It has been one of the most significant yet contentious issues in the problem-riddled power sector of Pakistan-privatisation of DISCOs.
Updated 09 Nov, 2017 02:00pm
6th population census set to begin today
Pakistan Top News

6th population census set to begin today

ISLAMABAD: The first phase of the 6th National Population Census will begin in sixty-three districts across the country from today (Wednesday).
Published 14 Mar, 2017 11:25pm
Tillerson to press China on North Korea in tough first Asia trip
World Top News

Tillerson to press China on North Korea in tough first Asia trip

WASHINGTON: US Secretary of State Rex Tillerson faces a tough first trip to Asia this week when the former oil executive will seek to reassure nervous allies facing North Korea's growing nuclear and missile threat and press China to do more on perhaps the
Published 14 Mar, 2017 11:22pm
Govt committed to achieving Sustainable Development Goals: Marriyum
Pakistan Top News

Govt committed to achieving Sustainable Development Goals: Marriyum

ISLAMABAD: Minister of State for Information, Broadcasting and National Heritage Marriyum Aurangzeb speaking at the International Conference on the Role of Women Parliamentarians in Strengthening Democracy and Social Justice here Tuesday asserted that the
Published 14 Mar, 2017 11:12pm
TSX hits 2017 low as energy, Valeant weigh
Financial

TSX hits 2017 low as energy, Valeant weigh

TORONTO: Canada's main stock index tumbled on Tuesday to its lowest this year as declining oil prices weighed on the energy sector, while Valeant Pharmaceuticals International Inc plunged on the exit of an activist investor.
Published 14 Mar, 2017 11:07pm
Destiny of Asia lies in hands of Asian People: Raza Rabbani
Pakistan Top News

Destiny of Asia lies in hands of Asian People: Raza Rabbani

ISLAMABAD: Chairman Senate Mian Raza Rabbani Tuesday said Asia should look within itself and must decide its own destiny as the white racism and Western Imperialism are not going to solve its problems.
Published 14 Mar, 2017 11:06pm
C$ weakens as oil prices slide to 3-month low
Financial

C$ weakens as oil prices slide to 3-month low

TORONTO: The Canadian dollar weakened on Tuesday against its US counterpart as prices of oil, one of Canada's major exports, fell and the greenback climbed broadly ahead of a widely expected interest rate hike by the US Federal Reserve.
Published 14 Mar, 2017 11:03pm
Brazil prosecutor seeks 83 graft probes against politicians
World

Brazil prosecutor seeks 83 graft probes against politicians

BRASLIA: Brazil's prosecutor general, Rodrigo Janot, on Tuesday requested permission to open 83 corruption probes against politicians in an escalation of a vast graft scandal already shaking Latin America's biggest country.
Published 14 Mar, 2017 10:39pm
Trump's new travel ban faces day in court
North America

Trump's new travel ban faces day in court

WASHINGTON: President Donald Trump insists his amended travel ban will survive any legal challenge and it's time to see if he's right, with the first court hearings on it scheduled for Wednesday.
Published 14 Mar, 2017 10:27pm
US stocks fall ahead of Fed decision
Financial

US stocks fall ahead of Fed decision

NEW YORK: Wall Street stocks retreated Tuesday ahead of an expected Federal Reserve interest rate increase Wednesday and the likelihood of additional rate hikes later in the year.
Published 14 Mar, 2017 10:23pm
Govt puts Pakistan on path of prosperity, development: PM
Pakistan Top News

Govt puts Pakistan on path of prosperity, development: PM

KARACHI: Prime Minister Muhammad Nawaz Sharif on Tuesday said the government had put the country on the path of prosperity and development by adopting business-friendly policies and hard work.
Published 14 Mar, 2017 10:16pm
Irfan Siddiqui calls on PM
General News

Irfan Siddiqui calls on PM

ISLAMABAD: Advisor to PM on National History and Literary Heritage, Irfan Siddiqui called on Prime Minister, Muhammad Nawaz Sharif here on Tuesday.
Published 14 Mar, 2017 10:01pm
Erdogan angers Dutch with Srebrenica jibe
Europe

Erdogan angers Dutch with Srebrenica jibe

ANKARA: Turkish President Recep Tayyip Erdogan prompted a fresh outcry in The Netherlands on Tuesday with a jibe about the Srebrenica massacre, warning of retaliation in a spiralling diplomatic crisis.
Published 14 Mar, 2017 09:47pm
PM gives special consideration to power sector: Sheikh Aftab
General News

PM gives special consideration to power sector: Sheikh Aftab

ISLAMABAD: Minister for Parliamentary Affairs, Sheikh Aftab, Thursday said Prime Minister Muhammad Nawaz Sharif had given special consideration to power sector and now even a block of four houses could apply for installation of electricity distribution in
Published 14 Mar, 2017 09:44pm
PTI failed to bring any change in KP: Daniyal Aziz
Pakistan Top News

PTI failed to bring any change in KP: Daniyal Aziz

ISLAMABAD: Member National Assembly of Pakistan Muslim League Nawaz (PML-N) Daniyal Aziz on Tuesday said Pakistan Tehreek-i-Insaf (PTI) had failed to bring any change in Khyber Pakhtunkhwa where it was in power.
Published 14 Mar, 2017 09:43pm
Pakistan's oil demand jumps 13pc due to economic growth: Report
Front Top News

Pakistan's oil demand jumps 13pc due to economic growth: Report

ISLAMABAD: Pakistan's oil consumption from July 2016 to February 2017 jumped 13% year on year, owing to lower petroleum product prices and higher economic activity, driven by GDP growth, foreign investment and greater political stability, according to an
Published 14 Mar, 2017 08:43pm
Oil drops amid rising stocks, dragging on energy shares
Energy

Oil drops amid rising stocks, dragging on energy shares

NEW YORK: Oil prices tumbled on Tuesday, weighing down energy shares in the wake of a report of rising crude stocks, while the US dollar strengthened ahead of an expected Federal Reserve decision to raise interest rates.
Published 14 Mar, 2017 07:01pm
South Sudan, African Union stalling on human rights court: UN
Europe

South Sudan, African Union stalling on human rights court: UN

GENEVA: The African Union and South Sudan are failing in their joint responsibility to set up a court to prosecute atrocities in the central African country and are not cooperating with a United Nations inquiry, a UN investigator said on Tuesday.
Published 14 Mar, 2017 06:48pm
IMF urges G20 cooperation to preserve trade, reduce imbalances
World Top News

IMF urges G20 cooperation to preserve trade, reduce imbalances

WASHINGTON: The International Monetary Fund on Tuesday called on the Group of 20 major economies to work together to preserve the benefits of trade and avoid protectionism, while also urging them to reduce external imbalances and halt policies that distor
Published 14 Mar, 2017 06:29pm
Sterling hits eight-week low as May gets Brexit go-ahead
Financial

Sterling hits eight-week low as May gets Brexit go-ahead

LONDON: Sterling fell to an eight-week low against the dollar and the basket of currencies measuring its broader strength on Tuesday, hit by fears of prolonged political jousting over the terms of Britain's exit from the European Union.
Published 14 Mar, 2017 06:00pm
Dar urges cooperation of all for transparent census
Pakistan

Dar urges cooperation of all for transparent census

ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar on Tuesday said conducting a transparent census was a national effort which could only be successful with the cooperation and support of all concerned.
Published 14 Mar, 2017 04:55pm
US stocks fall, oil shares hit
Financial

US stocks fall, oil shares hit

NEW YORK: Wall Street stocks dropped early Tuesday ahead of a Federal Reserve monetary policy decision as oil prices fell again, hitting petroleum-linked shares.
Published 14 Mar, 2017 04:00pm
6th census to start in Sargodha from April 25
General News

6th census to start in Sargodha from April 25

SARGODHA: The second phase of 6th census process will start in Sargodha division from April 25 and continue till May 25, for which 6,986 blocks, 1,037 circles, 139 charges have been set up across the division.
Published 14 Mar, 2017 03:55pm
PM for enhanced cooperation between Pak, Kyrgyz parliaments
Pakistan

PM for enhanced cooperation between Pak, Kyrgyz parliaments

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif Tuesday said that cooperation between the National Assemblies of Pakistan and Kyrgyzstan must grow to transform our special ties into a strategic partnership encompassing all areas of bilateral relations.
Published 14 Mar, 2017 03:12pm
Bullion Prices on Tuesday
Markets

Bullion Prices on Tuesday

KARACHI: Following were the Bullion Prices in Karachi, Hyderabad, Multan and Lahore on Tuesday.
Published 14 Mar, 2017 02:55pm
Kamran Akmal beats younger brother Umar in PCBs fitness test
Cricket

Kamran Akmal beats younger brother Umar in PCBs fitness test

Pakistan cricket squad is busy breaking the sweat at training camp held at Gaddafi Stadium in Lahore with the intention to improve the One Day Internationals (ODI) rankings in the upcoming tour to West Indies; the board is keeping a close watch on the pla
Published 14 Mar, 2017 02:29pm
EU court rules workplace headscarf ban legal
Europe

EU court rules workplace headscarf ban legal

LUXEMBOURG: European companies can ban employees from wearing religious or political symbols including the Islamic headscarf, the EU's top court ruled Tuesday in a landmark case.
Published 14 Mar, 2017 02:06pm
UN hears of human rights violations amid Libya fighting
Europe

UN hears of human rights violations amid Libya fighting

GENEVA: Fighting in Libya's oil coastline region this month has been marked by human rights violations while attacks are likely to worsen in coming days, UN human rights spokeswoman Ravina Shamdasani said on Tuesday.
Published 14 Mar, 2017 01:59pm
Oil hits three-month lows as inventories continue to rise
Energy

Oil hits three-month lows as inventories continue to rise

LONDON: Oil prices fell to three-month lows on Tuesday after OPEC reported that crude inventories in developed countries had risen above the five-year average in January despite production cuts by some of the world's largest exporters.
Published 14 Mar, 2017 01:50pm
Wall St opens lower as investors eye Fed meeting
Financial

Wall St opens lower as investors eye Fed meeting

NEW YORK: US stocks opened lower on Tuesday as investors fixed their sights on the outcome of a meeting where the Federal Reserve is widely expected to raise interest rates for the first time this year.
Published 14 Mar, 2017 01:47pm
Raad-ul-Fasaad continuation of previous operations: COAS
Front Top News

Raad-ul-Fasaad continuation of previous operations: COAS

ISLAMABAD: Chief of Army Staff (COAS) General Qamar Javed Bajwa on Tuesday highlighted the enormity of the endeavor undertaken by Pakistan against the forces of disorder and terror, over the last many years.
Updated 14 Mar, 2017 01:46pm
TSX falls as drop in oil prices weighs on energy
Financial

TSX falls as drop in oil prices weighs on energy

TORONTO: Canada's main stock index fell on Tuesday, pressured by losses for the energy group as prices of oil fell to a three-month low, while Valeant Pharmaceuticals International Inc tumbled after billionaire investor William Ackman sold his entire stak
Published 14 Mar, 2017 01:44pm
CNG sector gradually reviving: Paracha
General News

CNG sector gradually reviving: Paracha

ISLAMABAD: Central Chairman All Pakistan CNG Association (APCNGA) Ghiyas Abdullah Paracha Tuesday said the Compressed Natural Gas sector was on the path of gradual revival.
Published 14 Mar, 2017 01:29pm
Toshiba delays earnings again, considers US unit sale
Industry

Toshiba delays earnings again, considers US unit sale

TOKYO: Toshiba on Tuesday won approval again to delay releasing its earnings, averting an embarrassing delisting, while it said it would try to sell a US nuclear division hit by massive losses and allegations of accounting fraud.
Published 14 Mar, 2017 12:59pm
Green grass of New Zealand delights South Africa
Cricket

Green grass of New Zealand delights South Africa

WELLINGTON: After four days of rain the covers were peeled off the Basin Reserve wicket on Tuesday and to South Africa's delight it was green ahead of the second Test against New Zealand.
Published 14 Mar, 2017 12:53pm
RECORDER REPORT-PSX close of day
Pakistan Top News

RECORDER REPORT-PSX close of day

KARACHI: Karachi Stock Exchange (KSE) 100 index closed lower on Tuesday having 48539.
Published 14 Mar, 2017 11:06am
Hong Kong stocks end flat
Financial

Hong Kong stocks end flat

HONG KONG: Hong Kong stocks ended flat on Tuesday following two days of gains with investors awaiting the conclusion of the Federal Reserve's next policy meeting for fresh clues about its monetary policy plans.
Published 14 Mar, 2017 09:01am
PCB suspends Irfan over PSL fixing row
Cricket

PCB suspends Irfan over PSL fixing row

The Pakistan Cricket Board (PCB) has suspended fast bowler Muhammad Irfan in Pakistan Super League (PSL) second edition spot fixing row, on Tuesday.
Published 14 Mar, 2017 08:36am
China hopes India, Pak inclusion in SCO will ensure security of region
Front Top News

China hopes India, Pak inclusion in SCO will ensure security of region

ISLAMABAD: China on Monday hoped the admission of India and Pakistan into the Beijing-led Shanghai Cooperation Organisation (SCO) security grouping will contribute to security and stability in the region, Indian newspaper, The Hindu reported on Tuesday.
Published 14 Mar, 2017 08:35am
NA clears bill for enhancing FBISE jurisdiction
General News

NA clears bill for enhancing FBISE jurisdiction

ISLAMABAD: The National Assembly Tuesday approved a private member bill [The Federal Board of Intermediate and Secondary Education (Amendment) Bill, 2017 aimed at allowing the FBISE to expand its jurisdiction all over the country.
Published 14 Mar, 2017 08:22am
GB can earn billions through almond exports
Business & Economy

GB can earn billions through almond exports

GILGIT: The main strength of the economy of Gilgit Baltistan (GB) depends largely on dry fruits and agriculture and is famous for its almond, apricot, cherry and other dry fruits production in the world, But, the most popular fruit of Gilgit Baltistan is
Published 14 Mar, 2017 08:22am
Census faces credibility issue
Front Top News

Census faces credibility issue

Wasim Iqbal & Zaheer Abbasi%D%A%D%AISLAMABAD: Population census exercise scheduled to begin tomorrow (Wednesday) is facing a serious credibility issue prompting the federal government and the armed forces to promise verified and credible data.
Published 14 Mar, 2017 08:19am
PM announces US one million dollars humanitarian assistance for Yemen
Pakistan Top News

PM announces US one million dollars humanitarian assistance for Yemen

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif Tuesday while expressing desire for early return of peace for Yemen announced an immediate provision of US one million dollars in humanitarian assistance for the distressed people of Yemen.
Published 14 Mar, 2017 08:13am
May to address MPs after Brexit bill approved
Europe

May to address MPs after Brexit bill approved

LONDON: British Prime Minister Theresa May will make a major statement to parliament on Tuesday, just hours after MPs enabled her to start the withdrawal process from the European Union.
Published 14 Mar, 2017 08:04am
Trump envoy, Netanyahu discuss peace and settlements
Middle East

Trump envoy, Netanyahu discuss peace and settlements

JERUSALEM: US President Donald Trump's special envoy Jason Greenblatt and Israeli Prime Minister Benjamin Netanyahu discussed ways to reach peace with the Palestinians as well as settlement construction, a statement said Tuesday.
Published 14 Mar, 2017 07:54am
PM leaves for Karachi today
Front Top News

PM leaves for Karachi today

Prime Minister Nawaz Sharif will arrive in Karachi on Tuesday to chair a high level meeting on security and development projects in Karachi.
Published 14 Mar, 2017 07:51am
Move beyond remittances?
Banking

Move beyond remittances?

Once a saving grace, remittances have been under pressure since quite a while now; the foreign inflows from expats abroad have trotted down by 2.
Published 14 Mar, 2017 05:06am
Hong Kong benchmark rises sharply

Hong Kong benchmark rises sharply

Hong Kong stocks started the week on an upbeat note, with an index tracking mainland companies posting its biggest gain in nearly four months after top Chinese officials signalled confidence in China's economic health. The Hang Seng index registered its b
Published 14 Mar, 2017 12:00am
Southeast Asian stocks largely up

Southeast Asian stocks largely up

Most Southeast Asian stock markets closed higher on Monday, with the Philippines clocking its biggest single-day percentage gain in nearly a month as bargain hunters stepped in following Friday's last-minute selloff. Philippine shares closed 1.2 percent h
Published 14 Mar, 2017 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose on Monday tracking overseas markets higher amid mostly broad-based gains. As of 0417 GMT, the main TAIEX index was up 0.6 percent at 9,683.82, after closing down 0.3 percent in the previous session. The index has been consolidating betw
Published 14 Mar, 2017 12:00am
Monday's early afternoon trade: Wall Street dips as drug stocks drag

Monday's early afternoon trade: Wall Street dips as drug stocks drag

The S&P 500 and the Dow trended lower in afternoon trading on Monday as drug stocks fell, while investors awaited a widely expected interest rate hike later this week. The 11 major S&P 500 sectors were all trading within small ranges, with the healthcare
Published 14 Mar, 2017 12:00am
Tokyo stocks hit 15-month high

Tokyo stocks hit 15-month high

Tokyo stocks hit a 15-month high Monday after solid US jobs data all but guaranteed a Federal Reserve rate hike this week, while struggling Toshiba rallied after saying it planned to announce a delayed earnings report this week. Friday's US jobs report ca
Published 14 Mar, 2017 12:00am
Eurozone bond yields fall, Draghi stays tight-lipped

Eurozone bond yields fall, Draghi stays tight-lipped

Eurozone government bond yields edged off multi-week highs on Monday as European Central Bank chief Mario Draghi remained tight-lipped on policy details after he signalled last week that the urgency for further action was waning. News on Friday that some
Published 14 Mar, 2017 12:00am
Eurozone bond yields fall, Draghi stays tight-lipped

Eurozone bond yields fall, Draghi stays tight-lipped

Eurozone government bond yields edged off multi-week highs on Monday as European Central Bank chief Mario Draghi remained tight-lipped on policy details after he signalled last week that the urgency for further action was waning. News on Friday that some
Published 14 Mar, 2017 12:00am
Singapore bans former Goldman Sachs banker linked to 1MDB

Singapore bans former Goldman Sachs banker linked to 1MDB

Singapore on Monday banned a former Goldman Sachs banker from working in the city-state's financial industry for 10 years after he was linked to a corruption scandal involving Malaysian state fund 1MDB. The Monetary Authority of Singapore (MAS) also said
Published 14 Mar, 2017 12:00am
Blackstone picks Luxembourg for EU base

Blackstone picks Luxembourg for EU base

Private equity firm Blackstone is among a number of financial services companies to have chosen Luxembourg as the site for a European Union subsidiary following Britain's vote to leave the EU, the head of Luxembourg's financial development agency said. Bl
Published 14 Mar, 2017 12:00am
Blackstone picks Luxembourg for EU base

Blackstone picks Luxembourg for EU base

Private equity firm Blackstone is among a number of financial services companies to have chosen Luxembourg as the site for a European Union subsidiary following Britain's vote to leave the EU, the head of Luxembourg's financial development agency said. Bl
Published 14 Mar, 2017 12:00am
Intel buying Israeli's Mobileye for $15 billion

Intel buying Israeli's Mobileye for $15 billion

Intel will buy Israeli car tech firm Mobileye for more than $15 billion (14 billion euros), the companies said Monday, in a deal signalling the US computer chip giant's commitment to technology for self-driving vehicles. Israeli media reported that the de
Published 14 Mar, 2017 12:00am
EU welcomes Gazprom competition commitments

EU welcomes Gazprom competition commitments

The European Union on Monday welcomed commitments by Russian state-owned gas giant Gazprom to allow for increased competition in east European markets, once its exclusive preserve. The EU has been investigating Gazprom since 2015 over claims it abused its
Published 14 Mar, 2017 12:00am
China issues first penalties involving Hong Kong stock link

China issues first penalties involving Hong Kong stock link

China's securities regulator has handed down hefty fines for stock manipulation including what it said was the first case involving the landmark Shanghai-Hong Kong stock connect programme. The China Securities Regulatory Commission (CSRC) said in a statem
Published 14 Mar, 2017 12:00am
China issues first penalties involving Hong Kong stock link

China issues first penalties involving Hong Kong stock link

China's securities regulator has handed down hefty fines for stock manipulation including what it said was the first case involving the landmark Shanghai-Hong Kong stock connect programme. The China Securities Regulatory Commission (CSRC) said in a statem
Published 14 Mar, 2017 12:00am
EU approves Siemens Gamesa wind turbine merger

EU approves Siemens Gamesa wind turbine merger

German engineering company Siemens and Spain's Gamesa have won unconditional antitrust approval from the European Union to create the world's biggest maker of wind turbines, the EU's competition regulator said on Monday. The deal, which combines the Germa
Published 14 Mar, 2017 12:00am
HSBC appoints new chairman in management overhaul

HSBC appoints new chairman in management overhaul

Banking giant HSBC announced the appointment of a new chairman Monday as part of a management overhaul that will also see it choose a new chief executive, following a massive drop in profits in 2016. British businessman Mark Tucker, currently group chief
Published 14 Mar, 2017 12:00am
China's Wanda aborts bid for Golden Globes producer
Currency

China's Wanda aborts bid for Golden Globes producer

A $1 billion bid by China's Wanda Group for the operator of the Golden Globe awards has been aborted, the US firm's parent has said, following reports that it was sunk by a Chinese clampdown on overseas investments. The acquisitive Chinese property-to-ent
Published 14 Mar, 2017 12:00am
Europe to tell G20 it will resist protectionism

Europe to tell G20 it will resist protectionism

European Union finance ministers will tell a G20 meeting this week that they will resist protectionism and that regulation introduced after the 2008 financial crisis must be kept in place. A document prepared by the EU ministers, which appears aimed at th
Published 14 Mar, 2017 12:00am
UK builder Bovis in talks with Galliford Try after rejecting bids

UK builder Bovis in talks with Galliford Try after rejecting bids

British homebuilder Bovis has rejected a bid approach from rival Galliford Try but remains in talks about a possible deal, the company said on Sunday, adding it had also rejected a proposal from another suitor, Redrow. A tie up between Galliford and Bovis
Published 14 Mar, 2017 12:00am
Finnish exports jump

Finnish exports jump

Finnish exports jumped 27 percent in January from a year ago, helped by a cruise ship delivery, while new manufacturing orders also increased, suggesting the Nordic country's export sector was picking up pace after a decade-long stagnation. The Finnish ec
Published 14 Mar, 2017 12:00am
Brazil's February inflation falls to lowest since 2000

Brazil's February inflation falls to lowest since 2000

Brazil's inflation rate slowed unexpectedly sharply last month, falling to its lowest for February since 2000, official figures showed Friday. The 0.33 percent rise in prices compared to 0.38 percent in January and 0.9 percent in February a year ago, the
Published 14 Mar, 2017 12:00am
South Korea looking into share trading of 13 companies ahead of election

South Korea looking into share trading of 13 companies ahead of election

South Korea is looking into share trading of 13 companies which are believed to be linked to possible presidential candidates ahead of an election in two months, the country's financial watchdog said on Monday. The Financial Supervisory Service (FSS) said
Published 14 Mar, 2017 12:00am
Australia asset sales on ice after state election result

Australia asset sales on ice after state election result

Voters in iron ore-rich Western Australia turned against the governing centre-right Liberal party on Saturday, in a state election result set to derail billions of dollars of privatisation's including a port and major energy grid. The opposition state Lab
Published 14 Mar, 2017 12:00am
Argentina inflation spikes in February due to electricity rate hikes

Argentina inflation spikes in February due to electricity rate hikes

Consumer prices in greater Buenos Aires rose 2.5 percent in February over the previous month, Argentina's official Indec statistics agency said on Thursday, above median expectations in a Reuters poll for a 2.1 percent rise. That was nearly double 1.3 per
Published 14 Mar, 2017 12:00am
Philippines January exports rise at fastest pace in three years
Currency

Philippines January exports rise at fastest pace in three years

Philippine exports rose at their quickest pace in three years in January on demand for technology goods and commodities, while continuing strong imports underlined a buoyant domestic economy. The Southeast Asian economy is one of the fastest growing in th
Published 14 Mar, 2017 12:00am
Tourism helps Iceland growth erupt to 7.2 percent

Tourism helps Iceland growth erupt to 7.2 percent

Iceland's economy surged last year, data released Thursday showed, as dynamic tourism and investment powered a strong recovery from a devastating 2008 economic collapse. Iceland Statistics' preliminary figures showed 7.2 percent growth for 2016 with GDP s
Published 14 Mar, 2017 12:00am
Nigeria central bank governor defends policy of limiting imports
Currency

Nigeria central bank governor defends policy of limiting imports

Hard currency curbs imposed by Nigeria's central bank have helped boost local food production, central bank governor Godwin Emefiele was quoted as saying by two newspapers on Sunday. Entrepreneurs have criticized a halt to hard currency allocations by the
Published 14 Mar, 2017 12:00am
CBOT corn futures lower

CBOT corn futures lower

Corn futures on the Chicago Board of Trade ended lower on Friday for a fifth straight session on chart-based selling and forecasts for plentiful global supplies following large South American harvests, traders said. CBOT May corn settled down 2-3/4 cents
Published 14 Mar, 2017 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 265,864 tonnes of cargo comprising 211,083 tonnes of import cargo and 54,781 tonnes of export cargo including 6,212 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargo of 211
Published 14 Mar, 2017 12:00am
Palm oil prices down on European vegoils market
Currency

Palm oil prices down on European vegoils market

Palm oil prices on the European vegetable oils market eased on Friday because of weak Malaysian palm oil exports during the first 10 days of March. Asking prices were between $5 and $25 a tonne down from Thursday, also pressured by bearish USDA crop and s
Published 14 Mar, 2017 12:00am
PMEX daily trading report
Cotton

PMEX daily trading report

On Friday, at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 2,987. The total traded value of Metals, Energy and COTS/FX was recorded at PKR 5.58 billion and the number of lots traded was 14,010. Major business was contributed by gol
Published 14 Mar, 2017 12:00am
Asian naphtha crack edges up to two-week high

Asian naphtha crack edges up to two-week high

Asia's naphtha crack edged up on Monday to a nearly two-week high of $72.75 a tonne, supported by spot and term demand. South Korea's Hanwha Total and SK Energy were in the market seeking spot naphtha, traders said. The two buyers have bought a total of a
Published 14 Mar, 2017 12:00am
Canadian canola futures down

Canadian canola futures down

ICE Canadian canola futures dipped on Friday, pressured by a strong Canadian dollar and weaker soybeans. Most-active May canola fell $3.60 to $522.90 per tonne. It lost 1.4 percent for the week. July canola lost $3.30 to $525.60 per tonne. May-July canola
Published 14 Mar, 2017 12:00am
Cotton market: ginners make cautious selling on short supply
Cotton

Cotton market: ginners make cautious selling on short supply

Ginners refrained from big deals on the cotton market on Monday in the process of short supply of lint cotton, dealers said. The official spot rate was unchanged at Rs 6800, they said. In Punjab prices of phutti were unchanged at Rs 3750-3800, as per 40 k
Published 14 Mar, 2017 12:00am
South Africa's maize prices fall to two-year lows
Currency

South Africa's maize prices fall to two-year lows

A big maize crop following recent rains has pulled South African maize prices to two-year lows, eroding farmers' ability to pay for inputs for the new season, Grain SA said on Friday. The government's Crop Estimates Committee (CEC) said last month that Af
Published 14 Mar, 2017 12:00am
EU wheat futures lower as euro strong

EU wheat futures lower as euro strong

Euronext wheat futures were lower on Friday, weakened by a decline in Chicago and a strengthening euro which helped to further dampen export prospects. May milling wheat futures were off 1.00 euro, or 0.6 percent, at 173.50 euros a tonne at 1718 GMT. The
Published 14 Mar, 2017 12:00am
China's thermal coal prices rise to highest level since November

China's thermal coal prices rise to highest level since November

China's thermal coal prices rose to the highest level since mid November due to tightening supply, shrugging off concerns that prices will fall after policy makers delay introducing radical production controls. Benchmark thermal coal prices at the port of
Published 14 Mar, 2017 12:00am
Frosty temperatures to hit US Midwest wheat next week

Frosty temperatures to hit US Midwest wheat next week

Freezing temperatures next week could threaten soft red winter wheat in about 10 percent of the US Midwest crop belt, where a recent warm spell advanced the crop's development, an agricultural meteorologist said. The coldest air should arrive early Wednes
Published 14 Mar, 2017 12:00am
CBOT soyabean futures fall

CBOT soyabean futures fall

Soyabean futures on the Chicago Board of Trade fell on Friday, with the most-active May contract touching a two-month low on follow-through selling one day after the US Department of Agriculture raised its forecast for Brazil's soyabean harvest. CBOT May
Published 14 Mar, 2017 12:00am
Brazil harvests 56 percent of soya crop

Brazil harvests 56 percent of soya crop

Brazilian soyabean farmers harvested 56 percent of the 2016/17 crop by the end of this week compared to 52 percent at this time last year and 47 percent for the 5-year average, consultancy AgRural said on Friday. Farmers in No. 1 soya-producing state Mato
Published 14 Mar, 2017 12:00am
European gasoline margins down further on high stock worries

European gasoline margins down further on high stock worries

Gasoline refining margins in north-west Europe slipped lower on Friday, despite sagging oil benchmarks, on renewed fears over high stocks in the Atlantic Basin. Gasoline stocks in Europe's ARA hub rose 2.6 percent to 1.16 million tonnes, according to PJK
Published 14 Mar, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 14 Mar, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 14 Mar, 2017 12:00am
State Bank of Pakistan conversion rates
Currency

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 14 Mar, 2017 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 14 Mar, 2017 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 Monday (March 13, 2017).

Published 14 Mar, 2017 12:00am
Currency notes: exchange rates
Currency

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (March 13, 2017).

Published 14 Mar, 2017 12:00am
Money Market Report
Currency

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (March 13, 2017).
Published 14 Mar, 2017 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (March 13, 2017).

Published 14 Mar, 2017 12:00am
Erdogan says Merkel backs terror as EU row intensifies

Erdogan says Merkel backs terror as EU row intensifies

President Recep Tayyip Erdogan on Monday accused German Chancellor Angela Merkel of backing terrorists, as new acrimony erupted between Turkey and its EU allies. Erdogan's scathing broadside came hours after the European Union urged him to avoid inflammat
Published 14 Mar, 2017 12:00am
Erdogan says Merkel backs terror as EU row intensifies

Erdogan says Merkel backs terror as EU row intensifies

President Recep Tayyip Erdogan on Monday accused German Chancellor Angela Merkel of backing terrorists, as new acrimony erupted between Turkey and its EU allies. Erdogan's scathing broadside came hours after the European Union urged him to avoid inflammat
Published 14 Mar, 2017 12:00am
Thar-coal projects: Nepra decides to re-determine tariff

Thar-coal projects: Nepra decides to re-determine tariff

National Electric Power Regulatory Authority (Nepra) has decided to re-determine tariff for upcoming Thar-coal power projects as the duration for upfront tariff has expired. "Upfront tariff for Thar coal power projects has expired and now Nepra has to dec
Published 14 Mar, 2017 12:00am
Thar-coal projects: Nepra decides to re-determine tariff

Thar-coal projects: Nepra decides to re-determine tariff

National Electric Power Regulatory Authority (Nepra) has decided to re-determine tariff for upcoming Thar-coal power projects as the duration for upfront tariff has expired. "Upfront tariff for Thar coal power projects has expired and now Nepra has to dec
Published 14 Mar, 2017 12:00am
Thar-coal projects: Nepra decides to re-determine tariff

Thar-coal projects: Nepra decides to re-determine tariff

National Electric Power Regulatory Authority (Nepra) has decided to re-determine tariff for upcoming Thar-coal power projects as the duration for upfront tariff has expired. "Upfront tariff for Thar coal power projects has expired and now Nepra has to dec
Published 14 Mar, 2017 12:00am
PPIB-IPPs meeting remains inconclusive

PPIB-IPPs meeting remains inconclusive

A scheduled meeting between the Independent Power Producers (IPPs) and Private Power Infrastructure Board (PPIB) on Monday remained inconclusive as the latter conveyed that it has no authority to promise anything without the Ministry's prior approval, wel
Published 14 Mar, 2017 12:00am
PPIB-IPPs meeting remains inconclusive

PPIB-IPPs meeting remains inconclusive

A scheduled meeting between the Independent Power Producers (IPPs) and Private Power Infrastructure Board (PPIB) on Monday remained inconclusive as the latter conveyed that it has no authority to promise anything without the Ministry's prior approval, wel
Published 14 Mar, 2017 12:00am
PPIB-IPPs meeting remains inconclusive

PPIB-IPPs meeting remains inconclusive

A scheduled meeting between the Independent Power Producers (IPPs) and Private Power Infrastructure Board (PPIB) on Monday remained inconclusive as the latter conveyed that it has no authority to promise anything without the Ministry''s prior approval, we
Published 14 Mar, 2017 12:00am
Revenue generation: Taxation of e-commerce to be considered in budget

Revenue generation: Taxation of e-commerce to be considered in budget

The taxation of e-commerce would be considered in the budget (2017-18) as a revenue generation measure of the Federal Board of Revenue (FBR). Sources told Business Recorder here on Monday that the Federal Board of Revenue (FBR) has submitted instru
Published 14 Mar, 2017 12:00am
Revenue generation: Taxation of e-commerce to be considered in budget

Revenue generation: Taxation of e-commerce to be considered in budget

The taxation of e-commerce would be considered in the budget (2017-18) as a revenue generation measure of the Federal Board of Revenue (FBR). Sources told Business Recorder here on Monday that the Federal Board of Revenue (FBR) has submitted instru
Published 14 Mar, 2017 12:00am
Revenue generation: Taxation of e-commerce to be considered in budget

Revenue generation: Taxation of e-commerce to be considered in budget

The taxation of e-commerce would be considered in the budget (2017-18) as a revenue generation measure of the Federal Board of Revenue (FBR). Sources told Business Recorder here on Monday that the Federal Board of Revenue (FBR) has submitted instru
Published 14 Mar, 2017 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 14 Mar, 2017 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 14 Mar, 2017 12:00am
Volumes hit seven-month low

Volumes hit seven-month low

Despite foreign buying, Pakistan Stock Exchange (PSX) remained under heavy pressure due to investor concerns over various issues. Monday saw the lowest traded volumes since July 4, 2016. The benchmark KSE-100 index declined by 536.03 points to close below
Published 14 Mar, 2017 12:00am
Volumes hit seven-month low

Volumes hit seven-month low

Despite foreign buying, Pakistan Stock Exchange (PSX) remained under heavy pressure due to investor concerns over various issues. Monday saw the lowest traded volumes since July 4, 2016. The benchmark KSE-100 index declined by 536.03 points to close below
Published 14 Mar, 2017 12:00am
Volumes hit seven-month low

Volumes hit seven-month low

Despite foreign buying, Pakistan Stock Exchange (PSX) remained under heavy pressure due to investor concerns over various issues. Monday saw the lowest traded volumes since July 4, 2016. The benchmark KSE-100 index declined by 536.03 points to close below
Published 14 Mar, 2017 12:00am
BRIndex30 loses 308.51 points

BRIndex30 loses 308.51 points

On Monday, BRIndex30 opened at 27,776.03. It touched an intraday high of 27,945.36 and an intraday low of 27,408.44 and closed at 27,467.52 which was -308.51 points or -1.11 percent lower than previous close. Total volume was 71,618,500, which was 53.81 p
Published 14 Mar, 2017 12:00am
BRIndex30 loses 308.51 points

BRIndex30 loses 308.51 points

On Monday, BRIndex30 opened at 27,776.03. It touched an intraday high of 27,945.36 and an intraday low of 27,408.44 and closed at 27,467.52 which was -308.51 points or -1.11 percent lower than previous close. Total volume was 71,618,500, which was 53.81 p
Published 14 Mar, 2017 12:00am
British MPs approve bill to trigger Brexit

British MPs approve bill to trigger Brexit

British MPs on Monday approved a bill allowing Prime Minister Theresa May to begin Brexit, voting down two amendments put forward by the House of Lords. The bill now passes for final approval to the Lords, which had inserted the changes to protect the rig
Published 14 Mar, 2017 12:00am
British MPs approve bill to trigger Brexit

British MPs approve bill to trigger Brexit

British MPs on Monday approved a bill allowing Prime Minister Theresa May to begin Brexit, voting down two amendments put forward by the House of Lords. The bill now passes for final approval to the Lords, which had inserted the changes to protect the rig
Published 14 Mar, 2017 12:00am
British MPs approve bill to trigger Brexit

British MPs approve bill to trigger Brexit

British MPs on Monday approved a bill allowing Prime Minister Theresa May to begin Brexit, voting down two amendments put forward by the House of Lords. The bill now passes for final approval to the Lords, which had inserted the changes to protect the rig
Published 14 Mar, 2017 12:00am