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Archive - 2018-03-15
Pak forex figure $18.24bn
Pakistan Top News

Pak forex figure $18.24bn

KARACHI,: Total liquid foreign exchange reserves of the country stand at 18,24 billion, said State Bank of Pakistan.
Published 15 Mar, 2018 07:32pm
For the love of cars
Automobile

For the love of cars

Passenger cars and jeeps have crossed the 150,000 threshold in 8MFY18 year-on-year — at the same rate, the industry coul
Published 15 Mar, 2018 06:40am
Alipay in Pakistan?
Miscellaneous

Alipay in Pakistan?

Does Pakistan’s digital payments’ landscape finally have the breakthrough it was looking for? China’s Alipay, which has
Published 15 Mar, 2018 06:38am
PML-N MPA joins PTI

PML-N MPA joins PTI

A PML-N provincial parliamentarian, Nasarullah Ghuman, has joined the Pakistan Tehreek-e-Insaf (PTI) along with 15 local body members. According to a PTI spokesperson here on Wednesday, Nasarullah Ghuman announced to join the party during a meeting with P
Published 15 Mar, 2018 12:00am
Local traders join PTI

Local traders join PTI

The office-bearers of Anjuman-e-Tajran, Chungi Amer Sadhu, met Pakistan Tehreek-e-Insaf (PTI) Central Punjab President Abdul Aleem Khan and announced to quit the N-League and join the PTI on Wednesday. Anjuman-e-Tajran President Rana Ghulam Sarwar and his
Published 15 Mar, 2018 12:00am
Rain forecast for certain areas

Rain forecast for certain areas

The Met Office has said that Westerly wave is affecting upper parts of the country and likely to persist till Thursday. Mainly dry weather is expected in most plain areas of the country. More rain-thundershower with gusty winds is expected at isolated pla
Published 15 Mar, 2018 12:00am
Randhawa vows to make MBL fifth largest bank of Pakistan by 2020

Randhawa vows to make MBL fifth largest bank of Pakistan by 2020

A comprehensive strategy has been evolved to make Meezan Bank limited (MBL) 5th biggest bank of Pakistan by the year 2020, said Ijaz Farooq Randhawa Group Head Branch Banking, SME, Commercial & Agriculture Finance. Distributing awards among the best perfo
Published 15 Mar, 2018 12:00am
World Consumer Rights Day today

World Consumer Rights Day today

Like other parts of the globe, the World Consumer Rights Day 2018 is being marked here on Thursday (today) with a resolve that all-out efforts will be made to highlight the need for protection of consumers as provided under UN guidelines. To mark the day,
Published 15 Mar, 2018 12:00am
Crescent Textile Mills Limited
Mutual Funds

Crescent Textile Mills Limited

Crescent Textile Mills Limited (PSX: CRTM) is one of the leading textile composites in Pakistan. Established in 1950 by Muhammad Shafi, the company managed to make a niche for itself in export markets of North America, Europe and Japan while also expandin
Published 15 Mar, 2018 12:00am
Crescent Textile Mills Limited
Mutual Funds

Crescent Textile Mills Limited

Crescent Textile Mills Limited (PSX: CRTM) is one of the leading textile composites in Pakistan. Established in 1950 by Muhammad Shafi, the company managed to make a niche for itself in export markets of North America, Europe and Japan while also expandin
Published 15 Mar, 2018 12:00am
Challenges facing the next government
Exchange

Challenges facing the next government

The present government is completing its five-year tenure in less than 100 days from now. There is an overwhelming consensus within and outside the country that Pakistan's economy has never been in such a bad shape as it is in now. This government had inh
Published 15 Mar, 2018 12:00am
Experts call for approving proposed water, food security policy

Experts call for approving proposed water, food security policy

The experts of climate change Wednesday called for an early approval of the proposed Water and Food Security Policy by the federal cabinet to effectively cope with the challenges posed by environmental changes. They were speaking at seminar titled 'Prepar
Published 15 Mar, 2018 12:00am
Finland is world's happiest country, Burundi least content: UN

Finland is world's happiest country, Burundi least content: UN

Finland is the world's happiest country while troubled Burundi is the most discontent, according to a new UN report released Wednesday. In addition to its joyful locals, Finland is also home to the happiest immigrants, the study found.
Published 15 Mar, 2018 12:00am
Singapore launches public hearings on 'fake news'

Singapore launches public hearings on 'fake news'

Singapore Wednesday launched public hearings on possible legislation to combat "fake news" which critics said could be used to curtail free speech. A 10-member parliamentary committee was set up in January to tackle false online information which the gove
Published 15 Mar, 2018 12:00am
Iran says Tillerson firing shows US 'determined' to quit nuclear deal

Iran says Tillerson firing shows US 'determined' to quit nuclear deal

US Secretary of State Rex Tillerson's sacking shows that Washington is set on quitting the nuclear deal between Tehran and world powers, Iran's deputy foreign minister said Wednesday. "The United States is determined to leave the nuclear deal, and changes
Published 15 Mar, 2018 12:00am
Macedonia adopts law to boost Albanian language status

Macedonia adopts law to boost Albanian language status

Macedonian parliament on Wednesday passed a law bolstering official use of the Albanian language in the Balkan country, despite protests from the rightwing opposition who argue the move will endanger national unity. In the 120-seat parliament, 64 lawmaker
Published 15 Mar, 2018 12:00am
European Parliament in 'secret' talks with North Korea

European Parliament in 'secret' talks with North Korea

A European Parliament delegation said Wednesday it has been conducting secret talks with North Korea over the last three years to try to persuade Pyongyang to negotiate an end to its nuclear programme. The group led by British MEP Nirj Deva has met senior
Published 15 Mar, 2018 12:00am
US students stage walkout against gun violence

US students stage walkout against gun violence

Students across the United States walked out of classes on Wednesday in a nationwide call for action against gun violence following the shooting rampage last month at a Florida high school. Hundreds of students from Washington area schools gathered outsid
Published 15 Mar, 2018 12:00am
EU unlocks new 3 billion euro Turkey migrant deal tranche

EU unlocks new 3 billion euro Turkey migrant deal tranche

The EU on Wednesday unlocked a further three billion euros ($3.7 billion) for refugees in Turkey, the second tranche of a controversial 2016 deal to curb the flow of migrants coming to Europe. "The Commission is today launching the mobilisation for the se
Published 15 Mar, 2018 12:00am
Zimbabwe doctors' strike cripples hospitals

Zimbabwe doctors' strike cripples hospitals

Zimbabwe's main state hospitals turned away many patients and only attended to emergency cases on Wednesday as a strike by doctors escalated. The strike, which seek to pressure the government for salary increases and address drugs shortages in hospitals,
Published 15 Mar, 2018 12:00am
Turkey ramps up assault on Kurdish enclave in Syria

Turkey ramps up assault on Kurdish enclave in Syria

Turkey turned up the heat on Syria's Afrin Wednesday, launching deadly strikes on Damascus loyalists deployed around the Kurdish enclave and closing in on its main city. The development - which could redraw the map of northern Syria as the conflict enters
Published 15 Mar, 2018 12:00am
Nepal Chief Justice sacked for faked date of birth

Nepal Chief Justice sacked for faked date of birth

Nepal's divisive Chief Justice Gopal Parajuli was sacked Wednesday for faking his date of birth in order to remain in office longer. The controversy over Parajuli's date of birth has been brewing for months after he charged a prominent activist and Nepal'
Published 15 Mar, 2018 12:00am
Lebanese novelist dies

Lebanese novelist dies

Prominent Lebanese novelist and lifelong women's rights activist Emily Nasrallah has died at the age of 87. A distinguished author of novels, children's books and short stories, Nasrallah focused her writing on themes of family, village life and emigratio
Published 15 Mar, 2018 12:00am
Top US general in Afghanistan urges 'tired' Taliban to talk peace

Top US general in Afghanistan urges 'tired' Taliban to talk peace

Now is the best time for the Taliban to negotiate for peace, the top US general in Afghanistan said Wednesday, warning that an increased air and ground campaign against the insurgents would only get worse. Afghan President Ashraf Ghani last month unveiled
Published 15 Mar, 2018 12:00am
Ventures guitarist Nokie Edwards dies

Ventures guitarist Nokie Edwards dies

Nokie Edwards, whose surfer-suave guitar with The Ventures helped create the genre of instrumental rock and influenced generations of younger artists, has died, the band said Tuesday. He was 82. The Ventures' bassist turned lead guitarist died Monday afte
Published 15 Mar, 2018 12:00am
US MIDDAY: gold edges lower

US MIDDAY: gold edges lower

Gold prices edged lower on Wednesday, pressured by a recovering dollar and an expectation of higher interest rates, but supported by safe-haven buying after the sudden dismissal of US Secretary of State Rex Tillerson. Spot gold declined 0.1 percent at $1,
Published 15 Mar, 2018 12:00am
El Salvador to get $80 million loan for coffee plantations

El Salvador to get $80 million loan for coffee plantations

El Salvador will get an $80 million loan from the Central American Bank for Economic Integration (CABEI) to renovate thousands of coffee plantations destroyed by the roya fungus, the country's government said on Thursday. Agriculture Minister Orestes Orte
Published 15 Mar, 2018 12:00am
Gold down in Europe

Gold down in Europe

Gold prices edged lower on Wednesday, pressured by a recovering dollar but supported by safe-haven buying after the sudden dismissal of US Secretary of State Rex Tillerson. Spot gold was down 0.2 percent at $1,323.87 an ounce at 1500 GMT. It earlier touch
Published 15 Mar, 2018 12:00am
Gold flat in Asia

Gold flat in Asia

Gold prices were flat on Wednesday, hovering near a one-week high on a weaker dollar following US Secretary of State Rex Tillerson's sudden dismissal, which invigorated concerns of protectionist policies hampering global risk appetite. Spot gold was uncha
Published 15 Mar, 2018 12:00am
Gold moves up in New York

Gold moves up in New York

Gold prices turned positive on Tuesday as the US dollar lost ground after news that US President Donald Trump replaced Secretary of State Rex Tillerson, while US inflation data was in line with forecasts. Spot gold was up 0.3 percent at $1,326.49 an ounce
Published 15 Mar, 2018 12:00am
Cocoa extends rally to multi-month highs

Cocoa extends rally to multi-month highs

Cocoa futures on ICE extended their steep rallies on Wednesday, with the New York market reaching a 16-month high and London a 14-month top on fund buying and concerns about diminished crop outlooks in the world's top growers Ivory Coast and Ghana. May Ne
Published 15 Mar, 2018 12:00am
Malaysian palm oil rises
Vegetable Oil

Malaysian palm oil rises

Malaysian palm oil futures hit a one-week high in trade on Wednesday, bouncing back from a more than one-and-a-half-year low earlier this week, supported by overnight gains in soyaoil on the Chicago Board of Trade. The benchmark palm oil contract for May
Published 15 Mar, 2018 12:00am
Rubber rises
Exchange

Rubber rises

Benchmark Tokyo rubber futures hit a one-week high on Wednesday on the back of firm Shanghai futures. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, have been getting little support from the ongoing curbs
Published 15 Mar, 2018 12:00am
Oil up after choppy session on mixed US crude stocks data

Oil up after choppy session on mixed US crude stocks data

Oil prices gained 0.4 percent in choppy trade on Wednesday, after a report showing a bigger-than-expected US crude stock build was offset by large distillate and gasoline inventory draws. US crude stocks rose by 5 million barrels, the biggest jump since l
Published 15 Mar, 2018 12:00am
Iraq to increase Kirkuk oilfields output to supply refineries

Iraq to increase Kirkuk oilfields output to supply refineries

Iraq's state-run North Oil Company (NOC) has begun testing operations at its Avana and Bai Hassan oilfields in Kirkuk to increase crude supply for domestic refineries, Iraqi officials said on Wednesday. "We have started testing operations at Avana and Bai
Published 15 Mar, 2018 12:00am
Mounting LME inventories undermine zinc prices
Exchange

Mounting LME inventories undermine zinc prices

Zinc prices slipped on Wednesday as inventories in London Metal Exchange-approved warehouses climbed, but support came from expectations of stronger demand in top consumer China. Benchmark zinc on the London Metal Exchange closed down 1.8 percent at $3,22
Published 15 Mar, 2018 12:00am
Shanghai copper climbs
Exchange

Shanghai copper climbs

Shanghai Futures Exchange copper climbed by 0.8 percent to 52,330 yuan ($8,283) a tonne on Wednesday on better-than-expected Chinese industrial production figures for the start of the year, but concerns about an escalation in US trade tariffs capped gains
Published 15 Mar, 2018 12:00am
Halep and Venus into quarters, Wozniacki falls
Kerb

Halep and Venus into quarters, Wozniacki falls

World No. 1 Simona Halep and Venus Williams punched their tickets to the Indian Wells quarter-finals, while Caroline Wozniacki suffered another exit at the hands of Russia's rising star Daria Kasatkina. Halep breezed through her fourth round match with a
Published 15 Mar, 2018 12:00am
Rogers appointed Australia coach

Rogers appointed Australia coach

Former Test opening batsman Chris Rogers was Wednesday appointed as Cricket Australia's new high-performance coach, tasked with helping develop the country's next generation of stars. The 40-year-old called time on his 25-Test career after the end of the
Published 15 Mar, 2018 12:00am
Del Potro dumps Ferrer, Cilic crashes out

Del Potro dumps Ferrer, Cilic crashes out

Juan Martin Del Potro continued his dominance over David Ferrer to book a spot in the Indian Wells fourth round as second seed Marin Cilic suffered a shock loss. World No. 8 Del Potro extended his win streak over the Spaniard to five straight matches, win
Published 15 Mar, 2018 12:00am
Dzeko strikes to take Roma into Champions League last 8

Dzeko strikes to take Roma into Champions League last 8

Roma reached the Champions League quarter-finals for the first time in 10 years as Edin Dzeko edged them past Shakhtar Donetsk 1-0 at the Stadio Olimpico on Tuesday and allowed the Italians to win the tie on away goals. The Bosnian striker's 52nd-minute g
Published 15 Mar, 2018 12:00am
US Consulate welcomes differently-abled Pakistan athletes

US Consulate welcomes differently-abled Pakistan athletes

Acting Consul General John Warner welcomed approximately 70 differently-abled athletes as well as their parents and mentors from Para Sports Pakistan to the Consulate for a Paralympics Sports Diplomacy event on March 13. The athletes participated in 7-a-s
Published 15 Mar, 2018 12:00am
GCU cricket tournament begins

GCU cricket tournament begins

The GC University Lahore 5th Inter-Departmental Staff Cricket Tournament 2018 began at the university's Oval Ground Wednesday. The vice-chancellor Professor Dr Hassan Amir Shah inaugurated the tournament by playing a couple of straight drives, while Regis
Published 15 Mar, 2018 12:00am
Three more matches decided in National Open Polo

Three more matches decided in National Open Polo

Diamond Paints, Barry's and Master Paints/Rizvi's chalked out contrastive triumphs in the ongoing Diamond Paints National Open Polo Championship for Quaid-e-Azam Gold Cup 2018 here at the Lahore Polo Club (LPC) grounds.
Published 15 Mar, 2018 12:00am
Pakistan welcomes FIFA's move

Pakistan welcomes FIFA's move

Pakistan on Wednesday welcomed FIFA's move to lift a ban imposed last year over an internal feud at the Pakistan Football Federation (PFF). The sport's governing body had imposed a rare blanket ban on the country last October after the dispute at PFF led
Published 15 Mar, 2018 12:00am
Sharma, Sundar take India into finals

Sharma, Sundar take India into finals

Skipper Rohit Sharma and off-spinner Washington Sundar helped India enter the Twenty20 tri-series final with a 17-run win over Bangladesh in Colombo on Wednesday. Sharma's dominant 89 guided India to 176-3 and then Sundar claimed three wickets to restrict
Published 15 Mar, 2018 12:00am
Snow sculptor becomes first Kazakh Paralympic winner

Snow sculptor becomes first Kazakh Paralympic winner

A professional snow sculptor on Wednesday became Kazakhstan's first ever gold medallist in the Winter Paralympics after storming to victory in cross-country skiing. Alexandr Kolyadin comes from a small town in the vast Central Asian country, and when he's
Published 15 Mar, 2018 12:00am
Violence-ridden Greek football in danger of 'Grexit': FIFA

Violence-ridden Greek football in danger of 'Grexit': FIFA

World football body FIFA on Wednesday said Greece's violence-ridden championship was on the "edge of a cliff" and Greek clubs faced exclusion from international competition unless authorities took rapid action. "This behaviour has pushed us to come here t
Published 15 Mar, 2018 12:00am
US retail sales falter; inflation creeping higher

US retail sales falter; inflation creeping higher

US retail sales fell for a third straight month in February as households cut back on purchases of motor vehicles and other big-ticket items, prompting analysts to downgrade their first-quarter economic growth forecasts. Despite signs of cooling in consum
Published 15 Mar, 2018 12:00am
Big banks shake up Washington lobbying shops

Big banks shake up Washington lobbying shops

Two of Wall Street's largest Washington-based trade groups said on Tuesday that they were merging, as big banks rethink their lobbying strategies under the business-friendly administration of US President Donald Trump. The Clearing House Association (TCH)
Published 15 Mar, 2018 12:00am
US announces duties on imports of Canadian paper

US announces duties on imports of Canadian paper

The US administration announced anti-dumping duties Tuesday on imports of one kind of paper from Canada, further straining tense trade relations. At issue is what is called uncoated groundwood paper, used in newsprint. US imports of it from Canada totalle
Published 15 Mar, 2018 12:00am
US launches WTO action on Indian export subsidies

US launches WTO action on Indian export subsidies

The United States said Wednesday it was taking action at the World Trade Organization against Indian government export subsidies, which officials said unfairly disadvantaged American workers and manufacturers. "These export subsidy programs harm American
Published 15 Mar, 2018 12:00am
Trump planning new tariff crackdown on China

Trump planning new tariff crackdown on China

US President Donald Trump is mulling fresh tariffs on billions of dollars in Chinese imports, aiming in particular at the tech and telecommunications sector, according to media reports. The White House is currently eyeing a hundred different Chinese produ
Published 15 Mar, 2018 12:00am
Facing boycott, Qatar focuses on self-reliance in five-year plan

Facing boycott, Qatar focuses on self-reliance in five-year plan

Qatar launched a five-year development plan on Wednesday that focuses on making the tiny country more self-reliant in the face of a boycott by other Arab states. The National Development Strategy for 2018-2022 pledges to "rationalise energy consumption an
Published 15 Mar, 2018 12:00am
Auditors blast EU's Turkey membership funding

Auditors blast EU's Turkey membership funding

Massive European Union funding to help Turkey's stalled membership bid has "barely addressed" key problems with democracy and the media, the bloc's spending watchdog said Wednesday. Brussels has set aside more than nine billion euros ($11 billion) since 2
Published 15 Mar, 2018 12:00am
FTSE gives up gains as trade war worries irk Wall Street
Exchange

FTSE gives up gains as trade war worries irk Wall Street

British shares gave up early gains and finished in negative territory on Wednesday as points gained by Prudential and mining stocks were overturned by simmering fears of a global trade war that pushed Wall Street into the red. The blue chip FTSE 100 index
Published 15 Mar, 2018 12:00am
Southeast Asia stocks fall on renewed trade war fears

Southeast Asia stocks fall on renewed trade war fears

Most Southeast Asian stock markets declined on Wednesday on fears of a global trade war after the sudden dismissal of US Secretary of State Rex Tillerson and news that Washington is seeking to impose tariffs on up to $60 billion of Chinese imports. Tiller
Published 15 Mar, 2018 12:00am
Italian stocks, banks weigh on European shares; Adidas shines
Currency

Italian stocks, banks weigh on European shares; Adidas shines

European shares dipped on Wednesday as strong results from Adidas and robust mining stocks were more than offset by weak banks and a drop in Italian stocks over fresh political jitters. Italy's FTSE MIB index fell 1.1 percent, turning lower after right-wi
Published 15 Mar, 2018 12:00am
Tech firms drag down China stocks
Exchange

Tech firms drag down China stocks

China stocks retreated on Wednesday, weighed down by tech firms, as US protectionism fears overshadowed strong China factory and investment data, while a regulatory crackdown on speculation dampened risk appetite further. At the close, the Shanghai Compos
Published 15 Mar, 2018 12:00am
Most Middle Easter markets soft, some Saudi stocks surge

Most Middle Easter markets soft, some Saudi stocks surge

Most Middle Eastern stock markets were soft on Wednesday with Qatar pulling back after two days of strong gains, but a few individual stocks in Saudi Arabia rose sharply in response to positive news. The Qatari index, which had surged 6.7 percent in the p
Published 15 Mar, 2018 12:00am
US yield curve flattens

US yield curve flattens

The US yield curve flattened on Tuesday as longer-dated bonds fell on strong demand for 30-year securities at auction, and on earlier news that February consumer price data cooled, suggesting the anticipated pickup in inflation is likely to be gradual. Th
Published 15 Mar, 2018 12:00am
US yield curve flattens

US yield curve flattens

The US yield curve flattened on Tuesday as longer-dated bonds fell on strong demand for 30-year securities at auction, and on earlier news that February consumer price data cooled, suggesting the anticipated pickup in inflation is likely to be gradual. Th
Published 15 Mar, 2018 12:00am
Hong Kong stocks tumble

Hong Kong stocks tumble

Hong Kong stocks fell on Wednesday, breaking a four-day rising streak, as fears of a Sino-US trade war outweighed optimism from China's solid economic data. The Hang Seng index fell 0.5 percent to 31,435.01, while the China Enterprises Index lost 0.5 perc
Published 15 Mar, 2018 12:00am
Wall Street slides on Tillerson exit, tariff worries
Exchange

Wall Street slides on Tillerson exit, tariff worries

Wall Street's major indexes fell on Tuesday as the dismissal of US Secretary of State Rex Tillerson and the possibility of additional US import tariffs against China dragged down stocks across sectors. President Donald Trump fired Tillerson after a series
Published 15 Mar, 2018 12:00am
Tokyo stocks snap four-day winning streak

Tokyo stocks snap four-day winning streak

Tokyo stocks fell Wednesday, snapping a four-day winning streak, as investors locked in profits after US President Donald Trump replaced his top diplomat and reports said he is planning new tariffs on China. The benchmark Nikkei 225 index fell 0.87 percen
Published 15 Mar, 2018 12:00am
Indian shares lower

Indian shares lower

Indian shares ended marginally lower on Wednesday as oil stocks such as Indian Oil Corp Ltd and Oil and Natural Gas Corporation Ltd fell after global crude prices firmed on strong Chinese factory data. The broader NSE index closed 0.15 percent lower at 10
Published 15 Mar, 2018 12:00am
Aussie, kiwi up

Aussie, kiwi up

The Australian and New Zealand dollars inched ahead on Wednesday as upbeat economic news from China helped offset fresh fears of a global trade war. The Aussie dollar firmed 0.1 percent to $0.7867, after being as high as $0.7898 at one stage overnight. Th
Published 15 Mar, 2018 12:00am
Sterling rally fades as dollar rebounds
Currency

Sterling rally fades as dollar rebounds

Sterling pulled back from a three-week high on Wednesday after the dollar rebounded, and traders said investors were cautious about pushing the pound much higher until there was clarity on the terms of a Brexit transition deal. The pound had risen to its
Published 15 Mar, 2018 12:00am
Canadian dollar up

Canadian dollar up

The Canadian dollar strengthened against the greenback on Wednesday, boosted by a rise in oil prices after strong Chinese factory activity lifted commodity markets. At 9:14 am EDT (1314 GMT), the Canadian dollar was trading up 0.3 percent at C$1.2926 to t
Published 15 Mar, 2018 12:00am
Most Asian currencies rise on dollar weakness

Most Asian currencies rise on dollar weakness

The South Korean won led gains as most Asian currencies rose against the dollar on Wednesday, with the departure of US Secretary of State Rex Tillerson, coupled with benign inflation data, pulling the carpet out from under the greenback.
Published 15 Mar, 2018 12:00am
Yuan inches up

Yuan inches up

China's yuan rose against the dollar on Wednesday after the sudden dismissal of US Secretary of State Rex Tillerson sent the greenback lower and China's central bank lifted its official midpoint to a two-week high. The dollar was also impacted by US infla
Published 15 Mar, 2018 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 82.96-82.96 (Previous 82.96-82.96).
Published 15 Mar, 2018 12:00am
Dollar slides against major currencies in New York

Dollar slides against major currencies in New York

The dollar fell against most major currencies on Tuesday after US inflation data for February was in line with expectations, suggesting the Federal Reserve remained on track to raise interest rates at a gradual pace. The dollar also lost traction after US
Published 15 Mar, 2018 12:00am
Dollar eyes one-month lows in Europe
Currency

Dollar eyes one-month lows in Europe

The dollar was pinned near one-week lows on Wednesday as news that the United States is seeking to impose tariffs of up to $60 billion of Chinese imports raised concerns that a brewing trade war may escalate quickly. The latest developments hit the greenb
Published 15 Mar, 2018 12:00am
Dollar struggles in Asia
Currency

Dollar struggles in Asia

The dollar wallowed against the yen and other major currencies on Wednesday after the sudden dismissal of US Secretary of State Rex Tillerson killed off an earlier bounce in the currency. US President Donald Trump fired Tillerson on Tuesday after a series
Published 15 Mar, 2018 12:00am
Sri Lankan rupee hits all-time low
Currency

Sri Lankan rupee hits all-time low

The Sri Lankan rupee touched its all-time low on Wednesday as importer dollar demand surpassed mild selling of the greenback by exporters, dealers said. The rupee touched an intraday low of 155.90 per dollar, matching the all-time low hit on February 14,
Published 15 Mar, 2018 12:00am
Bank of France urges end to euro reform 'trench warfare'
Currency

Bank of France urges end to euro reform 'trench warfare'

Eurozone leaders must end "trench warfare" between creditor and debtor countries and tackle tricky reforms, the governor of the Bank of France said Wednesday, offering ways to shake up long-paralysed debates. "It is time to forget about ideological trench
Published 15 Mar, 2018 12:00am
France warns Apple and Google of fines over 'abusive' practices

France warns Apple and Google of fines over 'abusive' practices

The French government said Wednesday that it would take Google and Apple to court over "abusive business practices" against smaller rivals, threatening fines that could further strain transatlantic ties as fears of a trade war grow. "I believe in an econo
Published 15 Mar, 2018 12:00am
Mauritius president refuses to resign over financial scandal

Mauritius president refuses to resign over financial scandal

Mauritian President Ameenah Gurib-Fakim has refused to resign, vowing to fight allegations that saw her embroiled in a financial scandal, the presidency said in a statement Wednesday. Gurib-Fakim, Africa's only female head of state, has been accused of us
Published 15 Mar, 2018 12:00am
Siemens to invest 1 billion euros in Brazil to 'unleash growth'

Siemens to invest 1 billion euros in Brazil to 'unleash growth'

German industrial group Siemens announced plans Wednesday to invest a billion euros in Brazil over the next five years, as Latin America's biggest economy cements its recovery from a brutal recession. In a statement, Siemens said it had signed an accord w
Published 15 Mar, 2018 12:00am
Uber returns to Barcelona with licensed service

Uber returns to Barcelona with licensed service

Uber said Tuesday it was back in Barcelona with 120 professional drivers after it was forced out three years ago over the suspension of its service that enables unregulated drivers to ferry passengers for money using their own cars. Its uberX service star
Published 15 Mar, 2018 12:00am
Crocs shoes lose EU patent in court blow

Crocs shoes lose EU patent in court blow

An EU court ruled on Wednesday that the design of Crocs shoes cannot be patented in Europe in a blow to the US-based maker of the plastic clogs. Luxembourg-based judges upheld a 2016 decision by the EU's intellectual property office to cancel the patent b
Published 15 Mar, 2018 12:00am
Australia business activity index hits record high in February

Australia business activity index hits record high in February

An index of Australian business conditions climbed to record highs in February as sales and profits increased sharply, leading to a marked improvement in already healthy employment conditions. Tuesday's survey from National Australia Bank showed its index
Published 15 Mar, 2018 12:00am
India's soyabean imports hit record high

India's soyabean imports hit record high

India's soyabean imports have hit a record high this year and more buying is expected as domestic supplies tighten following lower production last year, two trade sources said on Tuesday. Traders have signed deals to sell up to 100,000 tonnes of soyabeans
Published 15 Mar, 2018 12:00am
CBOT wheat futures fall

CBOT wheat futures fall

Chicago Board of Trade wheat futures fell about 1 percent on Tuesday, reversing from prior higher prices in a technical sell-off, traders said. Midday weather models also showed slightly higher chances for rains in the parched southern US Plains growing r
Published 15 Mar, 2018 12:00am
Cotton market: spot rates jump as volume of business improves
Cotton

Cotton market: spot rates jump as volume of business improves

Official spot rates jumped on the cotton market on Wednesday amid improved volume of business, dealers said. In a single day rally, the official spot rate went up by Rs 200 to Rs 7600, they added. In Sindh and Punjab prices of seed cotton were at Rs 2800-
Published 15 Mar, 2018 12:00am
Activities at Karachi and Qasim Ports

Activities at Karachi and Qasim Ports

The Karachi Port handled 86,611 tonnes of cargo comprising 54,119 tonnes of import cargo and 32,492 tonnes of export cargo including 1,878 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday. The total import cargo of 54
Published 15 Mar, 2018 12:00am
Chinese iron ore futures fall
Exchange

Chinese iron ore futures fall

Chinese iron ore futures fell further on Tuesday to near their weakest level since November as a mountain of stocks in the world's top consumer pulled down spot prices to below $70 a tonne for the first time in three months. Lean demand in China has kept
Published 15 Mar, 2018 12:00am
Palm oil rises on European vegoils market
Vegetable Oil

Palm oil rises on European vegoils market

Palm oil on the European vegetable oils market rose on Tuesday in response to a firmer ringgit and stronger Malaysian palm oil futures on the back of hopes for improved demand. In January, Malaysia introduced a zero export tax on palm oil, but that measur
Published 15 Mar, 2018 12:00am
European wheat hits one week high

European wheat hits one week high

European wheat hit a one week high on Tuesday, supported by US crop concerns and expectations that Algeria will be back in the market soon after a relatively small tender purchase. Gains were capped by a sharp rise in the euro against the dollar, as well
Published 15 Mar, 2018 12:00am
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