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May 18, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-07-17
Cotton market: prices up on mills' strong demand

Cotton market: prices up on mills' strong demand

Strong mills' demand pushed rates higher on the cotton market on Wednesday in the process of trading, dealers said. The official spot rate was higher by Rs 50 t0 Rs 6,050, they added. The prices of seed cotton in Sindh were at Rs 3300-3325 and in Punjab r
Published 17 Jul, 2014 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Tuesday for a second straight session, as the market turned its attention to excessively wet conditions for some Western Canadian crops. Manitoba and Saskatchewan crops suffered major damage in heavy rains earlier this
Published 17 Jul, 2014 12:00am
Little changes on grain market

Little changes on grain market

A few changes were seen on the wholesale grain market on Wednesday as most of the buyers showed no interest in fresh buying, dealers said. On the seeds side, castor seeds Lasbela quoted higher at Rs 1936 and 1950 and castor seeds Lakhra registered at Rs 2
Published 17 Jul, 2014 12:00am
BoE condemns UK banks' mis-selling of rate swaps

BoE condemns UK banks' mis-selling of rate swaps

The Bank of England said on Tuesday that British banks had a "dreadful record" on mis-selling complex interest rate hedging products to small businesses and warned that it would keep a close eye on them. Before the financial crisis, many businesses bought
Published 17 Jul, 2014 12:00am
Murdoch still eyeing Time Warner after rejection

Murdoch still eyeing Time Warner after rejection

Rupert Murdoch's conglomerate said Wednesday it made an unsuccessful bid for rival Time Warner which could shake up the media-entertainment world. The bid by 21st Century Fox, which would have combined two of the world's biggest media-entertainment empire
Published 17 Jul, 2014 12:00am
Kuwait telecoms giant Zain profit drops

Kuwait telecoms giant Zain profit drops

Kuwait telecoms giant Zain's net profits dropped slightly in the second quarter of 2014 but ended the first six months up as the firm keeps investing in upgrades and expansion. Zain said its net profits in the April-June period dropped 3.0 percent to 59.1
Published 17 Jul, 2014 12:00am
Kuwait telecoms giant Zain profit drops

Kuwait telecoms giant Zain profit drops

Kuwait telecoms giant Zain's net profits dropped slightly in the second quarter of 2014 but ended the first six months up as the firm keeps investing in upgrades and expansion. Zain said its net profits in the April-June period dropped 3.0 percent to 59.1
Published 17 Jul, 2014 12:00am
Venezuela's 12-month inflation tops 62 percent in June

Venezuela's 12-month inflation tops 62 percent in June

Venezuelan consumer prices rose 62.1 percent in the 12 months ending in June, a newspaper reported on Tuesday, boosting pressure on President Nicolas Maduro to control inflation. That figure would be the highest since the Opec nation revamped its methodol
Published 17 Jul, 2014 12:00am
Surging gold imports drive up India's trade deficit to 11-month high

Surging gold imports drive up India's trade deficit to 11-month high

A surge in gold imports widened India's trade deficit to an 11-month high in June, adding to the uncertainty from global oil prices that could pile more pressure on its current account balance. The trade deficit swelled to $11.76 billion last month, its h
Published 17 Jul, 2014 12:00am
South Africa metals strike hits auto, building industries

South Africa metals strike hits auto, building industries

A major strike by South African engineering and metal workers, which has already hit the vital auto manufacturing sector, is now disrupting building construction, the industry said on Wednesday. The strike by about 200,000 members of the National Union of
Published 17 Jul, 2014 12:00am
Qatar Airways boosts Boeing

Qatar Airways boosts Boeing

Qatar Airways gave Boeing a lift on Wednesday, concluding a deal for 50 of the US planemaker's revamped long-haul passenger jets and proposing to buy the same amount again. On the third day of the Farnborough airshow near London, Boeing won a passenger an
Published 17 Jul, 2014 12:00am
Qatar Airways boosts Boeing

Qatar Airways boosts Boeing

Qatar Airways gave Boeing a lift on Wednesday, concluding a deal for 50 of the US planemaker's revamped long-haul passenger jets and proposing to buy the same amount again. On the third day of the Farnborough airshow near London, Boeing won a passenger an
Published 17 Jul, 2014 12:00am
Yahoo to keep more of Alibaba, share half of IPO proceeds

Yahoo to keep more of Alibaba, share half of IPO proceeds

Yahoo Inc pledged to pay its shareholders at least half the proceeds from Alibaba Group Holding Ltd's mega-IPO this fall and plans to keep a larger stake in the Chinese e-commerce company than expected. Yahoo's roughly 24 percent stake in the world's larg
Published 17 Jul, 2014 12:00am
Yahoo to keep more of Alibaba, share half of IPO proceeds

Yahoo to keep more of Alibaba, share half of IPO proceeds

Yahoo Inc pledged to pay its shareholders at least half the proceeds from Alibaba Group Holding Ltd's mega-IPO this fall and plans to keep a larger stake in the Chinese e-commerce company than expected. Yahoo's roughly 24 percent stake in the world's larg
Published 17 Jul, 2014 12:00am
Adani wins nod for coastal project expansion

Adani wins nod for coastal project expansion

India's new right-wing government has cleared the way for billionaire Gautam Adani to further develop a massive coastal Special Economic Zone, a company statement said Wednesday. All issues "now stand resolved" and development of a 8,481-hectare (20,957-a
Published 17 Jul, 2014 12:00am
Foreigners buy $19 billion in US long-term securities

Foreigners buy $19 billion in US long-term securities

Foreigners bought more than $19 billion in US long-term securities in May, including Treasuries and corporate bonds, after selling debt in April, the US Treasury Department said on Wednesday. Including short-term debt and banking inflows overseas investor
Published 17 Jul, 2014 12:00am
Foreigners buy $19 billion in US long-term securities

Foreigners buy $19 billion in US long-term securities

Foreigners bought more than $19 billion in US long-term securities in May, including Treasuries and corporate bonds, after selling debt in April, the US Treasury Department said on Wednesday. Including short-term debt and banking inflows overseas investor
Published 17 Jul, 2014 12:00am
Bank of America earnings fall

Bank of America earnings fall

Bank of America Wednesday reported a 43 percent drop in second-quarter earnings weighed down by heavy litigation costs in the aftermath of the housing bust. Earnings fell to $2.0 billion in large part due to $4 billion in litigation expenses. But the bank
Published 17 Jul, 2014 12:00am
Bank of America earnings fall

Bank of America earnings fall

Bank of America Wednesday reported a 43 percent drop in second-quarter earnings weighed down by heavy litigation costs in the aftermath of the housing bust. Earnings fell to $2.0 billion in large part due to $4 billion in litigation expenses. But the bank
Published 17 Jul, 2014 12:00am
LSE revenues boosted by IPOs

LSE revenues boosted by IPOs

A boom in stock market flotations helped boost revenues for the London Stock Exchange Group by a fifth in the first quarter of its financial year, it said on Wednesday. Revenues surged 20 percent to £299.9 million ($514 million, 280 million euros) in the
Published 17 Jul, 2014 12:00am
IBM to offer iPads and iPhones for business users

IBM to offer iPads and iPhones for business users

International Business Machines Corp will partner exclusively with Apple Inc to sell iPhones and iPads loaded with applications geared at enterprise clients this fall, the company announced on Tuesday. The announcement, just two days before IBM releases i
Published 17 Jul, 2014 12:00am
Apple to pay consumers up to $400 million in e-books case

Apple to pay consumers up to $400 million in e-books case

Apple will pay up to $400 million to compensate consumers for illegal price-fixing conspiracy for electronic books, officials said Wednesday. The settlement would reimburse consumers in 33 states whose authorities sought damages for Apple's price-fixing,
Published 17 Jul, 2014 12:00am
Eurozone trade surplus widens

Eurozone trade surplus widens

The eurozone's trade surplus grew year-on-year in May in a sign net trade made a positive contribution to economic growth in the second quarter, the European Union's Statistics Office data showed on Wednesday. The external trade surplus of the 18 countrie
Published 17 Jul, 2014 12:00am
Ukraine hikes key rate to highest level in decade

Ukraine hikes key rate to highest level in decade

Ukraine's central bank said Wednesday it will raise its key lending rate by a hefty three percentage points to its highest level in a decade, to rein in soaring inflation. The surprise decision to raise the main lending rate to 12.5 percent from 9.5 perce
Published 17 Jul, 2014 12:00am
Worst is over for PC industry: Intel

Worst is over for PC industry: Intel

Intel Corp believes the worst is over for a personal computer industry hammered by the mobile revolution. The Santa Clara, California chipmaker forecast third-quarter revenue above Wall Street's expectations on Tuesday, sending its stock 4 percent higher
Published 17 Jul, 2014 12:00am
China's growth picks up as stimulus kicks in

China's growth picks up as stimulus kicks in

China's economic growth picked up slightly in the second quarter as a burst of government stimulus paid dividends, but analysts said Beijing will likely need to offer more support to meet its annual growth target as the property market slows. Analysts rem
Published 17 Jul, 2014 12:00am
US economy growing across nation: Fed Beige Book

US economy growing across nation: Fed Beige Book

All regions of the US have continued to expand their economic activity, the Federal Reserve said in a report Wednesday. Seven of the 12 regions surveyed recorded growth that was only "modest," while five notched "moderate" growth, the Fed said in its late
Published 17 Jul, 2014 12:00am
US factory output surges in second quarter, housing improving

US factory output surges in second quarter, housing improving

US manufacturing output rose at its fastest pace in more than two years in the second quarter, suggesting the economy was regaining enough momentum to lift growth throughout the year. Other data on Wednesday showed inflation stirring at the factory gate a
Published 17 Jul, 2014 12:00am
Dubai's bourse continues leading region

Dubai's bourse continues leading region

Dubai's bourse continued to lead the region up on Wednesday, even though builder Arabtec slowed its advance, while Qatar Gas Transport Co (Nakilat) jumped on strong second-quarter results. Shares in Arabtec, which had surged 13.6 percent on Tuesday, gaine
Published 17 Jul, 2014 12:00am
Wednesday's midday trade: stocks rise on merger activity, earnings

Wednesday's midday trade: stocks rise on merger activity, earnings

US stocks edged up on Wednesday, buoyed by the latest merger news, but pulled back from earlier highs as investors sifted through the latest batch of corporate earnings. Merger and acquisition activity continued to thrive on Wall Street. Time Warner share
Published 17 Jul, 2014 12:00am
S&P, Nasdaq dip on Yellen's comments; Apple up late

S&P, Nasdaq dip on Yellen's comments; Apple up late

US stocks pulled back on Tuesday after Federal Reserve Chair Janet Yellen and her fellow Fed policymakers raised concerns about "substantially stretched valuations" in some sectors. But the major US stock indexes closed well above session lows with the Do
Published 17 Jul, 2014 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks declined 0.22 percent on Wednesday morning, though battered computer vendor Acer Inc surged on an upbeat forecast for the PC industry by chip giant Intel Corp. As of 0145 GMT, the main TAIEX index was down 21.19 points at 9,547.98, trailing
Published 17 Jul, 2014 12:00am
Treasuries stay in a narrow range

Treasuries stay in a narrow range

The bond market traded in a narrow range on Tuesday, absorbing Federal Reserve Chair Janet Yellen's message that the US economic recovery remains incomplete and early signs of a pick-up in inflation are not enough to accelerate anticipated interest rate i
Published 17 Jul, 2014 12:00am
Treasuries stay in a narrow range

Treasuries stay in a narrow range

The bond market traded in a narrow range on Tuesday, absorbing Federal Reserve Chair Janet Yellen's message that the US economic recovery remains incomplete and early signs of a pick-up in inflation are not enough to accelerate anticipated interest rate i
Published 17 Jul, 2014 12:00am
Indian shares surge

Indian shares surge

Indian shares rose over 1 percent on Wednesday, gaining for the second consecutive session, as lenders and infrastructure-related companies such as IDFC Ltd surged after the central bank exempted long-term bonds raised for the sector from reserve requirem
Published 17 Jul, 2014 12:00am
Hong Kong shares up, China slips

Hong Kong shares up, China slips

Hong Kong shares closed up 0.27 percent on Wednesday after China released data showing the world's number two economy grew more than expected in the second quarter. The benchmark Hang Seng Index added 63.32 points to 23,523.28 on turnover of HK$53.46 bill
Published 17 Jul, 2014 12:00am
European shares recover as BES and miners bounce back

European shares recover as BES and miners bounce back

European equity markets recovered on Wednesday from losses in the previous session as a rebound in Banco Espirito Santo and in mining stocks lifted the region's bourses. The pan-European FTSEurofirst 300 index, which had slipped 0.4 percent on Tuesday, cl
Published 17 Jul, 2014 12:00am
Southeast Asian markets: Indonesia shares hit 13-month high

Southeast Asian markets: Indonesia shares hit 13-month high

All Southeast Asian stock markets gained on Wednesday, helped by better-than-expected economic growth in China, while Indonesian shares rose to a more than 13-month closing high on hopes Joko "Jokowi" Widodo would win the presidential election. The Jakart
Published 17 Jul, 2014 12:00am
Nikkei edges down

Nikkei edges down

Japan's Nikkei share average edged down on Wednesday after staying nearly flat for most of the session as investors took profits from gains the previous day, while China's economic data received a muted reaction from the market. China's economy expanded b
Published 17 Jul, 2014 12:00am
Miners lead FTSE to one-week high, Meggitt surges

Miners lead FTSE to one-week high, Meggitt surges

Britain's top share index hit a one-week high on Wednesday, with engineering firm Meggitt surging on bid speculation and miners rallying after a strong update from Rio Tinto and encouraging economic growth data from China. The FTSE 100 advanced 1.1 percen
Published 17 Jul, 2014 12:00am
New Zealand dollar hit by double whammy, Aussie in tow

New Zealand dollar hit by double whammy, Aussie in tow

The New Zealand dollar slid to three-week lows on Wednesday after soft domestic inflation data and a sharp fall in global dairy prices raised questions about whether the Reserve Bank of New Zealand (RBNZ) would need to tighten much more this year. The kiw
Published 17 Jul, 2014 12:00am
Dollar clings to modest gains in Asia

Dollar clings to modest gains in Asia

The dollar clung to modest gains on Wednesday after bulls latched on to a comment by Federal Reserve head Janet Yellen that rates could rise sooner if employment continued to improve. The Australian dollar, meanwhile, couldn't sustain a short-lived blip h
Published 17 Jul, 2014 12:00am
Aussie, kiwi dollars struggle in London

Aussie, kiwi dollars struggle in London

The Australian and New Zealand dollars fell on Wednesday as GDP data raised questions about the fragile economic recovery in China, a major destination for the two countries' exports. China reported its economy grew slightly faster than expected in the se
Published 17 Jul, 2014 12:00am
Early trade in New York: Dollar rises on rate speculation

Early trade in New York: Dollar rises on rate speculation

The dollar gained on Wednesday on modest rises in US Treasury yields and market speculation Federal Reserve Chair Janet Yellen is leaning toward tightening monetary policy that has kept interest rates at record lows. The dollar index, a grouping of six cu
Published 17 Jul, 2014 12:00am
Dollar rallies

Dollar rallies

The dollar climbed against most other leading currencies on Tuesday after Federal Reserve chief Janet Yellen championed continuing loose US monetary policies to boost employment and stagnant wages. The British pound jumped to a multi-year high against the
Published 17 Jul, 2014 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 77.60-77.61 (previous 77.60-77.60). Call Money Rates: 06.00-07.25 percent (* previous 05.50-07.25 percent). (* revised).
Published 17 Jul, 2014 12:00am
Indian rupee steadies

Indian rupee steadies

The Indian rupee ended unchanged on Wednesday as the dollar strength overseas and greenback buying by state run banks were offset by gains in local shares. The rupee also did not move significantly after data showed India's exports in June rose 10.22 perc
Published 17 Jul, 2014 12:00am
Asian forex: Won and ringgit sag

Asian forex: Won and ringgit sag

Most Asian currencies sagged on Wednesday as the dollar managed to hold firm after US Federal Reserve Chair Janet Yellen's testimony the previous day was seen as relatively balanced. Losses were led by the South Korea won, and the Malaysian ringgit. The w
Published 17 Jul, 2014 12:00am
Yuan edges up

Yuan edges up

The yuan edged up against the dollar on Wednesday after China's economic growth for the second quarter came in moderately better than expected, helping to offset a weaker central bank midpoint. Spot yuan stood at 6.2066 by midday, up 0.02 percent from Tue
Published 17 Jul, 2014 12:00am
Pound jumps to two-year high versus euro

Pound jumps to two-year high versus euro

The euro fell below 79 pence for the first time since September 2012 on Wednesday while sterling hit another near-six year high against a basket of currencies after data showed UK employment at its highest level ever. Official data showed the number of pe
Published 17 Jul, 2014 12:00am
Germans agonise over World Cup 'gaucho' victory dance

Germans agonise over World Cup 'gaucho' victory dance

Commentators chided Germany's football champions Wednesday for mocking Argentina during a giant World Cup title party in Berlin, an event that marked a rare exuberant celebration of national pride. In a country where strident patriotism is still largely t
Published 17 Jul, 2014 12:00am
Gallopin wins Tour de France 11th stage

Gallopin wins Tour de France 11th stage

Two days after wearing the yellow jersey on Bastille Day, Frenchman Tony Gallopin won the 11th stage of the Tour de France on Wednesday. The 26-year-old escaped from a depleted peloton on a fast descent in the last 10km of the 187.5km run from Besancon to
Published 17 Jul, 2014 12:00am
Sri Lanka fight back after Elgar ton

Sri Lanka fight back after Elgar ton

Opener Dean Elgar smashed a century before Sri Lanka pegged back South Africa with four key wickets late on the opening day of the first Test in Galle on Wednesday. The visitors were cruising at one stage after a cracking 103 from Elgar and a sedate 80 fr
Published 17 Jul, 2014 12:00am
Barcelona accepts Suarez 'imperfections'

Barcelona accepts Suarez 'imperfections'

Barcelona will accept Luis Suarez with his "imperfections" and believes he will play a positive role despite his notorious World Cup bite, a top club official said Wednesday. Barcelona could not show off their new signing from Liverpool because he is serv
Published 17 Jul, 2014 12:00am
Havill appointed as ECB's acting chief executive

Havill appointed as ECB's acting chief executive

Brian Havill was appointed as the England and Wales Cricket Board's acting chief executive on Wednesday. Havill had been working as the governing body's finance director and company secretary and he replaces David Collier, who announced last weekend that
Published 17 Jul, 2014 12:00am
Cameroon wrestlers go missing ahead of Games

Cameroon wrestlers go missing ahead of Games

Cameroon's Commonwealth Games preparations have been hit after two members of their wrestling team have gone missing. The unnamed men, aged 26 and 31, were reported missing from Cameroon's pre-Games training camp in the Scottish city of Aberdeen on Tuesda
Published 17 Jul, 2014 12:00am
Dhoni has no regrets over Anderson charge

Dhoni has no regrets over Anderson charge

India captain Mahendra Singh Dhoni insisted Wednesday his side had been right to complain about the conduct of England's James Anderson. England seamer Anderson was charged by the International Cricket Council (ICC) on Tuesday for allegedly "abusing and p
Published 17 Jul, 2014 12:00am
Cook slams India's 'tactics' over Anderson charge

Cook slams India's 'tactics' over Anderson charge

England captain Alastair Cook said Wednesday he believed India's complaint against James Anderson was a tactic designed to have his spearhead bowler miss some part of the ongoing series. Anderson was charged by the International Cricket Council (ICC) on T
Published 17 Jul, 2014 12:00am
Welsh runner Warburton banned after doping charge

Welsh runner Warburton banned after doping charge

Welsh 800m runner Gareth Warburton has been provisionally suspended from all competition after being charged with an anti-doping offence on Wednesday. Warburton, 32, competed in the 2012 London Olympics and was due to compete for Wales in this month's Com
Published 17 Jul, 2014 12:00am
PSB to hold cricket matches to raise funds for IDPs

PSB to hold cricket matches to raise funds for IDPs

With a view to raising funds for internally displaced people (IDPs), Punjab Sports Board (PSB) is holding cricket matches at Rawalpindi, Multan, Faisalabad and Lahore. PSB is making necessary arrangements to hold these matches, sources in the board said.
Published 17 Jul, 2014 12:00am
Pakistan team management for U-17 cricket team announced

Pakistan team management for U-17 cricket team announced

Pakistan Cricket Board (PCB) Wednesday announced the Team Management for U-17 cricket team tour to England in August. Ali Zia will be Team Manager while Azam Khan is Coach. Taimoor Azam will be Assistant Coach, Yasir Malik Trainer, Dr Mohammad Asad Physio
Published 17 Jul, 2014 12:00am
Pakistan women cricket team in first-ever tour of Australia

Pakistan women cricket team in first-ever tour of Australia

Pakistan on Wednesday announced a 14-member women's cricket team for their first-ever tour of Australia in a bid to prepare for their title defence in the Asian Games. The team led by the experienced Sana Mir will play four one-day and as many Twenty20 in
Published 17 Jul, 2014 12:00am
BRICS meet South American leaders

BRICS meet South American leaders

The BRICS group of emerging powers met Wednesday with South American presidents as they justified the creation of a development bank seen as an alternative to Western-dominated global financial organizations. The leaders of Brazil, Russia, India, China an
Published 17 Jul, 2014 12:00am
US nurse refuses to force-feed Gitmo inmates: Pentagon

US nurse refuses to force-feed Gitmo inmates: Pentagon

A US Navy nurse has refused to take part in force-feeding Guantanamo inmates on hunger strike, the first time a medical officer has openly objected to the practice, the Pentagon said Wednesday. The male nurse, whose name has not been disclosed, was part o
Published 17 Jul, 2014 12:00am
Turkey warns of 'drastic measures' against Syrian refugees

Turkey warns of 'drastic measures' against Syrian refugees

Turkey will take "drastic measures" to deal with the influx of tens of thousands of Syrian refugees into its biggest city Istanbul, including forcibly sending them to camps in the southeast, the city's top official said Wednesday. Istanbul governor Huseyi
Published 17 Jul, 2014 12:00am
China accuses Britain of interference over Hong Kong

China accuses Britain of interference over Hong Kong

China on Wednesday accused London of interfering in its internal affairs after British Deputy Prime Minister Nick Clegg met two leading Hong Kong pro-democracy activists urging greater freedoms from Beijing. China "lodged solemn protests" with Britain ove
Published 17 Jul, 2014 12:00am
UAE to create space agency, send unmanned probe to Mars

UAE to create space agency, send unmanned probe to Mars

Oil-rich United Arab Emirates announced Wednesday it will create a space agency with the aim of sending the first Arab unmanned probe to Mars by 2021. "The UAE has entered the space race with a project to send an unmanned probe to Mars by 2021 in the Arab
Published 17 Jul, 2014 12:00am
Violence threatens Iraqi diversity: UN

Violence threatens Iraqi diversity: UN

The flare-up of sectarian violence that saw jihadist-led militants conquer large swathes of Iraq over the past month has displaced 600,000 people and threatens the country's diversity, the UN warned Wednesday. The head of the UN's refugee agency, Antonio
Published 17 Jul, 2014 12:00am
War-torn South Sudan gets Chinese weapons delivery

War-torn South Sudan gets Chinese weapons delivery

The government in civil war-torn South Sudan has taken delivery of new Chinese arms including anti-tank missiles, grenade launchers and assault rifles, the country's defence minister confirmed Wednesday. The minister, Kuol Manyang Juuk, said the deal with
Published 17 Jul, 2014 12:00am
Seven jailed for life in Cairo square

Seven jailed for life in Cairo square

Seven men were sentenced Wednesday to life in prison over sexual assaults at Cairo's Tahrir Square, following a pledge by Egypt's new authorities to tackle an epidemic in such crimes. Since the 2011 uprising which toppled president Hosni Mubarak, cases of
Published 17 Jul, 2014 12:00am
Snowden deserves protection from prosecution: UN

Snowden deserves protection from prosecution: UN

Fugitive US intelligence agent Edward Snowden deserves shielding from prosecution for having thrown the spotlight on state snooping, UN human rights chief Navi Pillay said Wednesday. "Those who disclose human rights violations should be protected. We need
Published 17 Jul, 2014 12:00am
Orbital cargo ship reaches ISS

Orbital cargo ship reaches ISS

Orbital Sciences Corporation's unmanned cargo ship arrived Wednesday at the International Space Station carrying a load of food and equipment for the six-man crew at the research outpost. The vessel called Cygnus was grabbed by the space station's robotic
Published 17 Jul, 2014 12:00am
European leaders wrangle over candidates for top EU jobs

European leaders wrangle over candidates for top EU jobs

European Union leaders struggled on Wednesday to agree on a package of top jobs for the bloc in hopes of signing them off at a summit later in the day, including the appointment of a new foreign policy chief. The 28 leaders were also set to step up sancti
Published 17 Jul, 2014 12:00am
Cotton futures drop as speculator selling resumes, offsets mill buying

Cotton futures drop as speculator selling resumes, offsets mill buying

ICE cotton slipped again on Tuesday, resuming the market's biggest rout in years as speculators resumed selling fibre amid concerns about growing oversupply and offsetting pockets of buying as mills chased bargains. The benchmark December cotton contract
Published 17 Jul, 2014 12:00am
China's zinc up, copper flat

China's zinc up, copper flat

A slight pick up in the pace of China's economic growth in the second quarter brightened the outlook for metals demand on Wednesday, helping drive Shanghai zinc and London aluminium near their highest in more than a year. The most-traded September zinc co
Published 17 Jul, 2014 12:00am
Aluminium hits 16-month high, copper down

Aluminium hits 16-month high, copper down

Aluminium touched the highest levels in 16 months on Wednesday after data showed stronger economic growth in top metals consumer China amid producer cutbacks and eroding inventories. Benchmark three month aluminium on the London Metal Exchange surged to a
Published 17 Jul, 2014 12:00am
Rubber rises

Rubber rises

Tokyo rubber futures ended higher on Tuesday, helped by firmer oil, but further gains were capped as there was no fresh demand to push prices up, dealers said. The Tokyo Commodity Exchange rubber contract for December delivery rose 1.4 yen to settle at 19
Published 17 Jul, 2014 12:00am
New-crop corn sinks

New-crop corn sinks

US new-crop corn futures sank to a fresh contract low on Tuesday on forecasts for mild weather to boost the size of the US crop, which already has its best condition rating in 20 years. Soyabeans were steady to lower and wheat was flat as agricultural mar
Published 17 Jul, 2014 12:00am
Palm oil rises

Palm oil rises

Malaysian palm oil futures ended higher on Wednesday, rebounding from the previous session's slide to an over-9-month low, as a recovery in comparative soy markets and a weaker ringgit provided some relief to the tropical oil. The US soyoil contract rose
Published 17 Jul, 2014 12:00am
Cocoa tumbles after Hershey price hike

Cocoa tumbles after Hershey price hike

Cocoa futures on ICE tumbled the most in more than two months on Wednesday on chart-based selling and the expectation chocolate demand may fall after Hershey Co hiked its prices. Arabica coffee on ICE Futures US consolidated higher after dropping to a fiv
Published 17 Jul, 2014 12:00am
Gold down in New York

Gold down in New York

Gold prices fell 1 percent on Tuesday, dropping below $1,300 an ounce as bullion investors focused on a US Federal Reserve monetary policy report showing the central bank is set to end its bond-buying stimulus in October. Gold posted its biggest two-day l
Published 17 Jul, 2014 12:00am
Gold up in Asia

Gold up in Asia

Gold steadied after two days of losses on Wednesday but held below $1,300 an ounce, near a four-week low, on a stronger dollar and fears that the Federal Reserve could hike US interest rates sooner than expected. Spot gold had gained 0.3 percent to $1,297
Published 17 Jul, 2014 12:00am
Gold steadies in Europe

Gold steadies in Europe

Gold steadied around 1,300 an ounce on Wednesday as investors found value after two days of losses, but was still trading near a four-week low on a stronger dollar and fears the Federal Reserve could raise US interest rates sooner than expected. Fed Chair
Published 17 Jul, 2014 12:00am
Zimbabwe 2014 maize crop enough to meet demand

Zimbabwe 2014 maize crop enough to meet demand

Zimbabwe's 2014 harvest for the staple maize rose 82 percent to 1.46 million tonnes, enough to meet annual domestic consumption for the first time since 2003, when foreign aid groups started providing food to the country, a government report showed. The s
Published 17 Jul, 2014 12:00am
US MIDDAY: gold rebounds

US MIDDAY: gold rebounds

Gold rebounded early on Wednesday after two consecutive days of sharp losses, but a strong US economic outlook and fears that the Federal Reserve could raise US interest rates limited gains for the safe haven. Traders said that bottom-picking after the me
Published 17 Jul, 2014 12:00am
US crude rises over $1 after sharp stockpile fall

US crude rises over $1 after sharp stockpile fall

US crude oil rose more than $1 on Wednesday, rebounding from recent steep drops after government data showed the country's crude stockpiles fell sharply last week. Domestic crude stocks fell by 7.5 million barrels, the biggest draw since January, the US E
Published 17 Jul, 2014 12:00am
Bail granted to Lesco's former chief

Bail granted to Lesco's former chief

A special judge central here on Wednesday granted bail to Lesco's former chief Arshad Rafiq in a case of misappropriation in purchase of transformers. The FIA had registered the case and accused the officer of causing huge loss to national exchequer in th
Published 17 Jul, 2014 12:00am
JI expresses solidarity with Palestinians

JI expresses solidarity with Palestinians

Chief of Jamaat-e-Islami Siraj-ul-Haq has said that the absence of true leadership in Muslim World was a major reason behind killing of innocent people in Palestine, Kashmir and other parts of Muslim countries. He expressed these views while speaking at a
Published 17 Jul, 2014 12:00am
Recruitments in Aziz Bibi Hospital: Ombudsman takes suo motu notice

Recruitments in Aziz Bibi Hospital: Ombudsman takes suo motu notice

Ombudsman Punjab, Javed Mahmood has taken suo motu notice of making recruitments of Aziz Bibi Hospital, Roshan Bheela, Kasur without any qualification criteria and issued notice to all members of District Recruitment Committee including DCO Kasur and EDO
Published 17 Jul, 2014 12:00am
Punjab begins giving financial assistance to NWA IDPs: chief minister

Punjab begins giving financial assistance to NWA IDPs: chief minister

Punjab Chief Minister Muhammad Shahbaz Sharif has said that provincial government has started provision of financial assistance to the displaced persons of North Waziristan and seven thousand rupees are being given to each displaced family. He said that p
Published 17 Jul, 2014 12:00am
PIBs auction receives thin participation

PIBs auction receives thin participation

A thin participation was witnessed in the auction of Pakistan Investment Bonds (PIBs) as overall bids worth Rs 77 billion were received as against the target of Rs 100 billion. However, the cut-off yield of all bonds has slightly increased up to 28 basis
Published 17 Jul, 2014 12:00am
PIBs auction receives thin participation

PIBs auction receives thin participation

A thin participation was witnessed in the auction of Pakistan Investment Bonds (PIBs) as overall bids worth Rs 77 billion were received as against the target of Rs 100 billion. However, the cut-off yield of all bonds has slightly increased up to 28 basis
Published 17 Jul, 2014 12:00am
Ban imposed on heavy traffic

Ban imposed on heavy traffic

Government of Sindh has imposed ban under section 144 Cr. P.C. on plying of heavy traffic on main roads of Karachi Division from 5.00 pm to 12.00 midnight during Holy month of Ramazan. In this regard Home Department, Government of Sindh has issued a notif
Published 17 Jul, 2014 12:00am
Siraj condemns drone attack

Siraj condemns drone attack

Ameer, Jamaat e Islami, Pakistan, Sirajul Haq, strongly condemned the drone attack at Detta Khel resulting in several deaths. In a statement here from Mansoora, he called upon the government to explain its position if the drone attacks were not being made
Published 17 Jul, 2014 12:00am
Musharraf pays tributes to martyrs of Pakistan Army

Musharraf pays tributes to martyrs of Pakistan Army

Former President and chief of All Pakistan Muslim League (APML) General Pervez Musharraf (Retd.) have paid rich tributes to soldiers of Pakistan Army martyred in the on-going war against terrorism. In a statement issued on Wednesday, Pervez Musharraf said
Published 17 Jul, 2014 12:00am
NAB directs registration of case against former chairman Pemra, others

NAB directs registration of case against former chairman Pemra, others

The National Accountability Bureau (NAB) in a letter to Director General, Press Information Department (PID), has directed him to initiate an inquiry against ex-Pemra chairman, ex-PIO and ex-federal secretary Chaudhry Rasheed Ahmed on charges of misplacem
Published 17 Jul, 2014 12:00am
Saif Textiles - 9M FY14

Saif Textiles - 9M FY14

Saif Textile Mills Limited (KSE: SAIF) is a public listed company that's listed on the KSE commenced commercial production on 1st January 1992. The company mills are located in industrial estate, Gadoon Amazai, KPK, Pakistan. SAIF, headed by Anwar Saifull
Published 17 Jul, 2014 12:00am
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