Firmness prevailed on the money market on Saturday as the rupee resisted fall against the greenback despite the rising demand for dollars, dealers said. The rupee sustained overnight levels versus the dollar for buying and selling at Rs 99.70 and Rs 99.90
Firmness prevailed on the money market on Saturday as the rupee resisted fall against the greenback despite the rising demand for dollars, dealers said. The rupee sustained overnight levels versus the dollar for buying and selling at Rs 99.70 and Rs 99.90
China, the world's second-largest corn consumer, sold increased volumes from state reserves at a weekly auction on Thursday, after Beijing raised the offered amount to ease tight domestic supplies. The government sold 1,848,558 tonnes this week, 52.6 perc
European physical coal prices for June fell to a new low on Thursday as warm weather across Europe reduced energy demand and cheaper gas prompted coal producers to reduce their offers. Cargoes for June delivery to Amsterdam, Rotterdam and Antwerp (ARA) we
Asia's naphtha crack fell for the fourth day on Friday to $144.03 a tonne as concerns over additional supplies from new units countered the impact of fewer European barrels. Kuwait Petroleum Corp (KPC) closed its August 2014 to July 2015 full-range naphth
Indian soyabean and soyaoil futures fell on Friday, in line with global markets where palm oil futures dropped to an over seven-month low, recording their biggest monthly loss in nearly two years. Palm dropped nearly 8 percent in May in its largest monthl
Steadier trend persisted on the cotton market on Saturday in process of the insipid trading, dealers said. The official spot rate was unchanged at Rs 6,900, they added. In the ready session, over 2000 bales of cotton finalised at Rs 5000 and Rs 6850, deal
Coffee prices in India fell at this week's auction, weighed down by weak overseas markets and lower demand. Arabica plantation PB grade prices were lower by 500-800 rupees per 50 kg, while robusta cherry coffee prices were lower by 150-300 rupees per 50 k
Cash basis bids for corn and soyabeans were steady to slightly higher around the US Midwest on Friday as depressed futures prices continued to keep a lid on any offerings from farmers, grain merchants said. Declining barge freight costs on the region's ri
Hot and dry weather will dominate the European part of Russia in early summer, the head of Russian weather forecaster Hydrometcentre said on Thursday, a potential risk for the 2014 grain harvest. "The summer will begin with hot weather," Roman Vilfand tol
US natural gas futures eased on Friday but ended 3 percent higher for the week as the market continues to buy gas for storage and to meet rising demand as weather forecasts show above-normal temperatures returning in June. The July natural gas futures con
The Asian gasoline crack fell to a sixth-session low of $9.87 a barrel after a brief recovery in the previous session as slow spot buying interest weighed on sentiment. Traders added that the lacklustre gasoline demand in Asia could have been a reason beh
A cargo volume of 70,979 tonnes comprising 55,153 tonnes of import cargo and 15,826 tonnes of export cargo inclusive 2,308 loaded and empty containers (TEUs) was handled at Port Qasim during the last 24 hours on Saturday. The total import cargo of 55,153
Ivory Coast's robusta coffee output this season is expected to fall short of volumes sold forward by the country's marketing board, said exporters who worry they may face costly defaults on contracts with clients. Under reforms introduced last season, Ivo
Ukraine's 2014 grain harvest may exceed last year's record output of 63 million tonnes thanks to favourable weather this winter and spring, weather forecasters said on Friday. "The situation with winter and spring crops is better than last year and we can
Wheat prices in Western Europe were little changed on Friday, staying close to a three-month low as improving crop prospects in Europe and the United States kept a lid on prices. Volumes were light, with many operators taking a long weekend after Thursday
Spot basis bids for hard red winter wheat were steady to firmer in the southern US Plains on Friday as harvest progressed in Texas, dealers said. An Oklahoma dealer who had yet to take in any new-crop wheat was posting 40 cents a bushel over July futures
Palm oil on the European vegetable oils market dropped on Friday on a stronger ringgit and worries that demand will not exceed production in May, which could lead to a larger Malaysian palm oil stocks number. "The market remains overall bearish. Today was
US FOB Gulf soyabean basis offers remained firm after the close of trading on Friday due to robust demand for new-crop supplies, exporters said. Dealings were mostly quiet ahead of the weekend, traders said. US soyabean export sales last week were 881,400
German engineering and services group Bilfinger aims to sell its civil engineering division quickly and, at the same time, is open to acquisitions abroad, the chief executive of the company was quoted as saying on Saturday. The company is accepting expres
Cyprus abolished Friday the last remaining control on domestic capital movements, a year after imposing draconian measures to avoid a run on banks, and will now allow Cypriots to open new bank accounts. The authorities closed the banks for two weeks in sp
Most eurozone banks have assured their central banks that they are operationally ready to handle any challenges that would come with an expected move by the European Central Bank to charge lenders who keep money on deposit. The ECB is expected to announce
BlackRock Inc Chief Executive Larry Fink this week dropped a stink bomb on a small corner of the $2.5 trillion global market for exchange-traded funds. Fink, who runs the world's largest asset manager and ETF provider, said structural problems with levera
BlackRock Inc Chief Executive Larry Fink this week dropped a stink bomb on a small corner of the $2.5 trillion global market for exchange-traded funds. Fink, who runs the world's largest asset manager and ETF provider, said structural problems with levera
Donald Sterling, forced to sell his National Basketball Association team after a lifetime ban for making racist comments, is not going to be remembered as a "visionary," "icon" or "oracle" - terms attached over the years to renowned business personalities
Annual consumer inflation slowed in Italy and Spain in May, heightening concerns about deflation risk in the euro zone as the bloc's central bank gears up for an expected growth-boosting shift in monetary policy next week. Italy's EU-harmonised inflation
Nigeria's naira should glean support from oil companies exchanging dollars next week, while the Central Bank of Kenya's liquidity operations are seen offsetting weakness in the shilling.
The Australian dollar may have some room to fall against the Japanese yen, with a test of the pair's 100-day moving average, currently 93.30 yen, a possible target. The Aussie/yen cross has been tracking the top of its daily ichimoku cloud for a few days
A kneejerk fall in the euro on prospects of easier European Central Bank monetary policy could be partly reversed soon, as central banks and euro zone exporters look to buy the single currency at cheaper levels. Indeed, demand for the euro has so far prev
The Sri Lankan rupee traded slightly up on Friday, led by dollar sales from exporters and banks amid lack of importer demand for the greenback from state banks, dealers said. Dealers expect the local currency to face upward pressure until demand for impor
The dollar retreated from recent highs against other major currencies and closed lower on Friday as traders braced for potentially market-moving meetings next week by the European Central Bank and other monetary policymakers. The dollar, as tracked by the
Central European government bond prices eased on Friday as investors paused after a rally fuelled partly by expectations of monetary easing by the European Central Bank next week. Hungarian bond yields rose by 4-8 basis points from record lows hit on Thur
Central European government bond prices eased on Friday as investors paused after a rally fuelled partly by expectations of monetary easing by the European Central Bank next week. Hungarian bond yields rose by 4-8 basis points from record lows hit on Thur
Speculators increased bullish bets on the US dollar in the latest week to their highest since around mid-March, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position was $7.44 billi
The Canadian dollar weakened against the greenback on Friday after data showed the pace of economic growth in Canada cooled sharply in the first quarter, though month-end positioning allowed the currency to reverse most of its initial losses. Gross domest
The Acting Chairman of ABAD Saleem Kassim Patel has expressed his grave concern over the deteriorating condition of law and order. He said that the condition of law and order is contradictory to the expectations. This is situation has very negatively affe
Muttahida Qaumi Movement lawmakers from Hyderabad have expressed concern over the indifferent attitude of federal and Sindh governments towards Hyderabad district by neglecting its progress due to non-availability of funds.
The ongoing talks between Pakistan Muslim League-Quaid (PML-Q) and Tahir-ul-Qadri of Pakistan Awami Tehreek (PAT) in London to form a grand alliance for bringing a "change in the system", is being viewed as grapes are sour given that the former has a nomi
The convocation ceremony of 43rd Pakistan Navy Staff Course was held at Pakistan Navy War College, Lahore, where Muhammad Sarwar, Governor Punjab graced the ceremony as Chief Guest. Admiral Mohammad Asif Sandila, Chief of the Naval Staff was also present
Pakistan's raw cotton import plunged by 31 per cent during the first 10 months of the current fiscal year mainly owing to import of cotton yarn from India in a huge quantity. "Pakistani traders taking advantage of cheap Indian commodity has imported a lar
Minister for Planning, Development and Reforms Ahsan Iqbal on Saturday said Rs 260 billion will be allocated in the budget 2014-15 for energy sector while Rs 151 billion will be set aside in the coming budget for transport sector.
Four people were killed and five were injured in the unabated spate of violence in Karachi on Saturday. According to police and rescue sources, Ghulam Abbas Rizvi, 35, son of Jafar Abbas Rizvi, was gunned down by unidentified people in Khamosh Colony, loc
The Chief Minister Sindh Syed Qaim Ali Shah has appreciated the overall achievements of the Karachi targeted operation and said that it was because of the spirit and commitment of Sindh Police and Rangers that law & order has been improved. The Chief Mini
A police Assistant Sub-Inspector (ASI) was martyred when unknown armed men opened fire at him in the limits of Gadoon police station here on Saturday morning. According to Gadoon police, ASI Laiq Shah was on his way for duty when unknown assailants opened
The first National Parliamentary Conference on Millennium Development Goals is being held from June 2 to 4 under the guidance of National Assembly Speaker Sardar Ayaz Sadiq. The Speaker of the National Assembly will inaugurate the first National Millenniu
Judicial bailiff on Saturday recovered four persons who were kept illegally under detention in private jail of CIA police. Judicial bailiff on the order of Additional District and Session Judge in Alipur Tehsil of Muzaffargar raided a private jail set up
GE supplied and installed three 9E gas turbines at the newly inaugurated 425MW Nandipur Power Project in Gujranwala. The project will add 425MW to the national grid, with GE technologies generating 300MW - enough to power almost 300,000 homes. Dongfang El
With the successful conclusion of the auction for 3G/4G in Pakistan, the country is now poised to enter a new era of telecommunication services. As the "Carrier's Carrier," Wateen Telecom, Pakistan's leading converged communications provider, is pleased t
Advisor to the Chief Minister on Health, Khawaja Salman Rafique has said that government will establish a state-of-the-art liver and kidney transplant centre in Lahore soon at a cost of Rs 12 billion. He said this while addressing a symposium organised by
Fair taxation and strong fiscal policies backed by long-term stability are the need of the hour for a sustainable economic growth of the country. This was the outcome of a pre-budget seminar 'Strategy for Growth' jointly organised by the Association of Ch
Punjab Chief Minister Shahbaz Sharif has said that generation of electricity in a record period of seven months from first turbine of Nandipur Power Project is a golden story of commitment and determination of PML-N government. He said that this project w
The PML-N candidate has filed an application for recounting after he lost the PP-107 by-elections against the PTI candidate. PML-N's Sarfaraz Bhatti lost the elections in Punjab's PP-107 constituency in Pindi Bhattian and PTI's candidate Nighat Intisar wo
Punjab Chief Minister Shahbaz Sharif has taken immediate notice of a news item of kidnapping of Rana Jamil Hassan, a MPA of Muslim League-N, near Pindi Bhattian. According to an official here on Saturday, the Chief Minister sought a report from IG Police
Member Election Commission (MEC), Punjab Justice (R) Riaz Kyani paid an official visit to the office of Provincial Election Commissioner, Punjab, in Lahore and took notice of the incidents of violation of law and Code of Conduct during bye-elections in PP
Spokesman APTMA said the textile industry across the value chain has lodged serious concern over a possible change in the existing Reduced Rate Regime of Sales Tax in the upcoming budget. He said it is being widely apprehended that the government consider
Federal Secretary Ministry of Textile Industry, Rukhsana Shah on Saturday said that government was determined to facilitate hand-knotted carpet industry to enhance trade volume for economic stability and growth. She was talking to the members of Pakistan
The University of Agriculture Faisalabad (UAF) and Institute of Business Administration (IBA) Sukkur agreed to launch a Joint Degree Programme four-year BBA in order to strengthen inter-provincial harmony. It was agreed at the meeting held between UAF Vic
While smoking in public places in the country is continuing unabated in violation of prohibition of Smoking Ordinance, "World No Smoking Day" was observed here on Saturday with a renewed pledge that efforts will continue to be made to raise awareness amon
The local administration of Pakistan Railways (PR) on Saturday assured the Karachi Water and Sewerage Board (KWSB) to clear its outstanding dues by Wednesday (June 4). The Pakistan Railways has to pay Rs 80 million dues to KWSB for which the water supply
Central Chairman All Pakistan Paper Merchants Association (APPMA), Mohammad Saleem Memon urged Federal Finance Minister Ishaq Dar direct to concern authorities to rectify the tariff anomalies and save local printing industry which has capability to earn s
An Airbus aircraft of Pakistan International Airlines (PIA) crashed into a cargo van at Jinnah Terminal in Karachi after landing on Saturday. The crash occurred shortly after the PIA Airbus landed from Saudi Arabia. According to sources, the van crashed i
Pakistan Economy Forum (PEF) has proposed the Customs department to make concessionary certificates including Free Trade Agreement (FTA) mandatory at the time of filing of goods declaration. In a letter sent to Customs authorities, PEF said if the Customs
The newly appointed chairman of Fishermen Co-operative Society [FCS], Dr Nisar Morai, vowed on Saturday to protect the poor fishermen's living, saying the present PPP government will expand its facilities to the seafaring community. Since taking over the
Sindh Food Department (SFD) procured 30 percent more wheat compared to last year, ahead of the cutout date which is June 15. Hashim Sharja Wala, leading wheat trader, said here on Saturday.
Sialkot's value-added textile sector at a second round of consultations with the Federal Textile Minister Abass Khan Afridi has sought incentives and an end to the power and gas crisis to help increase its annual apparel exports to $700 million. At a meet
Former President and PPP's co-chairman Asif Ali Zardari on Saturday said that his party would resist attempts to weaken democracy. In a telephonic address to party's workers in Nowshehra on Saturday, Zardari said PPP has always fought dictators. "Despite
Haleem Adil Shaikh, President PML-Q Sindh chapter has said that negotiations between Tahir-ul-Qadri and PML leadership were not against of any one but it's in the favour of 180 million people of the country. 'We are taking all forces on single platform fo
KP Chief Minister Pervez Khattak Saturday said that they have offered the establishment of eighteen (18) hydel power stations to federal government, saying implementation of comprehensive plan for generating of cheap electricity has been initiated by the
The Rapid Response Force (RRF) comprising rangers and police has started jointly patrolling the federal capital however this is financially not sustainable for the district administration as the cost of boarding and lodging of rangers cannot be borne for
Co-Chairman Pakistan Peoples Party and former President Asif Ali Zardari has deplored the victimisation of former Prime Ministers Yousuf Raza Gillani and Raja Pervez Ashraf and ex- federal minister Makhdoom Amin Fahim behind the façade of accountability a
National Accountability Bureau (NAB) Khyber Pakhtunkhwa on Saturday arrested Akhtar Mohammad from Rawalpindi who had allegedly taken Rs 34.50 million as a bribe from contractor Arshid Majeed promising to use his good offices in NAB to close the Police Wea
Light rain accompanied by strong winds lashed Islamabad, Rawalpindi, Abbottabad, Murree and adjoining areas twice on Saturday making the weather pleasant. The first showers came at around 3 pm in Islamabad accompanied by strong winds and then the sky clea
Former interior minister and Pakistan Peoples' Party (PPP) Leader Rehman Malik on Saturday said the government is serious in peace talks while the Taliban are not. Talking to media persons here, he said talks should be held with only those who want talks
The Pakistan Muslim League-Nawaz (PML-N) government has given low priority to higher education and health sectors in next fiscal year development budget and reduced allocation for education by 35 percent in 2014-15 National Development Programme.
Aimed to create awareness regarding the budgetary allocation, spending chart and responsibilities of various public departments among the local population of Balochistan, Individual land Pakistan (IL-Pakistan) has started an initiative titled 'Public Part