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Print - 2015-05-09
Bears take control

Bears take control

The Karachi share market ended negative Friday losing another 212.58 points or 0.63 percent, weighed mainly by profit-taking in oil and gas sector. The benchmark KSE-100 index closed at 33,530.30 points compared to Thursday's 33,742.88, the day's lowest.
Published 09 May, 2015 12:00am
Bears take control

Bears take control

The Karachi share market ended negative Friday losing another 212.58 points or 0.63 percent, weighed mainly by profit-taking in oil and gas sector. The benchmark KSE-100 index closed at 33,530.30 points compared to Thursday's 33,742.88, the day's lowest.
Published 09 May, 2015 12:00am
Sugar subsidy: National Assembly body decides to send case to NAB

Sugar subsidy: National Assembly body decides to send case to NAB

National Assembly''s Standing Committee on Industries and Production on Friday unanimously decided to send the case of billions of rupees sugar subsidy approved by ECC in 2012 to National Accountability Bureau (NAB) after both the Ministry of Commerce (Mo
Published 09 May, 2015 12:00am
Sugar subsidy: National Assembly body decides to send case to NAB

Sugar subsidy: National Assembly body decides to send case to NAB

National Assembly's Standing Committee on Industries and Production on Friday unanimously decided to send the case of billions of rupees sugar subsidy approved by ECC in 2012 to National Accountability Bureau (NAB) after both the Ministry of Commerce (MoC
Published 09 May, 2015 12:00am
Sugar subsidy: National Assembly body decides to send case to NAB

Sugar subsidy: National Assembly body decides to send case to NAB

National Assembly's Standing Committee on Industries and Production on Friday unanimously decided to send the case of billions of rupees sugar subsidy approved by ECC in 2012 to National Accountability Bureau (NAB) after both the Ministry of Commerce (MoC
Published 09 May, 2015 12:00am
Promotion case: 'You're ignoring Sindh', Prime Minister told

Promotion case: 'You're ignoring Sindh', Prime Minister told

Leader of Opposition in the National Assembly Syed Khursheed Ahmed Shah has written a letter to Prime Minister Nawaz Sharif with a view to drawing his attention to the recent "unjust" and "discriminatory" decision, against Pakistan Administrative Service
Published 09 May, 2015 12:00am
Promotion case: 'You're ignoring Sindh', Prime Minister told

Promotion case: 'You're ignoring Sindh', Prime Minister told

Leader of Opposition in the National Assembly Syed Khursheed Ahmed Shah has written a letter to Prime Minister Nawaz Sharif with a view to drawing his attention to the recent "unjust" and "discriminatory" decision, against Pakistan Administrative Service
Published 09 May, 2015 12:00am
Cameron sweeps to unexpected triumph

Cameron sweeps to unexpected triumph

British Prime Minister David Cameron won a stunning election victory on Friday, confounding forecasts that the vote would be the closest in decades and winning a clear majority that left his Labour opponents in tatters. The sterling currency, bonds and sh
Published 09 May, 2015 12:00am
Cameron sweeps to unexpected triumph

Cameron sweeps to unexpected triumph

British Prime Minister David Cameron won a stunning election victory on Friday, confounding forecasts that the vote would be the closest in decades and winning a clear majority that left his Labour opponents in tatters. The sterling currency, bonds and sh
Published 09 May, 2015 12:00am
Norway expresses 'great sadness'

Norway expresses 'great sadness'

Norway expressed "great sadness" over the death on Friday of its ambassador to Pakistan in a helicopter crash claimed by the Taliban. Leif Larsen, 61, was "one of our best and most experienced diplomats" who was "very respected by his colleagues," Foreign
Published 09 May, 2015 12:00am
Norway expresses 'great sadness'

Norway expresses 'great sadness'

Norway expressed "great sadness" over the death on Friday of its ambassador to Pakistan in a helicopter crash claimed by the Taliban. Leif Larsen, 61, was "one of our best and most experienced diplomats" who was "very respected by his colleagues," Foreign
Published 09 May, 2015 12:00am
12 dignitaries rescued: Aizaz

12 dignitaries rescued: Aizaz

Foreign Secretary Aizaz Ahmed Chaudhry has ruled out any possibility of terrorism in Naltar tragedy and said the crash occurred due to technical failure of the helicopter engine whereas 12 people out of 19 onboard were rescued. Addressing a news conferenc
Published 09 May, 2015 12:00am
12 dignitaries rescued: Aizaz

12 dignitaries rescued: Aizaz

Foreign Secretary Aizaz Ahmed Chaudhry has ruled out any possibility of terrorism in Naltar tragedy and said the crash occurred due to technical failure of the helicopter engine whereas 12 people out of 19 onboard were rescued. Addressing a news conferenc
Published 09 May, 2015 12:00am
Diplomatic Crash

Diplomatic Crash

A military helicopter carrying diplomats to inspect a tourism project crashed on Friday killing seven people, including the ambassadors of Norway and the Philippines and the wives of the Malaysian and Indonesian ambassadors. Prime Minister Nawaz Sharif wa
Published 09 May, 2015 12:00am
Diplomatic Crash

Diplomatic Crash

A military helicopter carrying diplomats to inspect a tourism project crashed on Friday killing seven people, including the ambassadors of Norway and the Philippines and the wives of the Malaysian and Indonesian ambassadors. Prime Minister Nawaz Sharif wa
Published 09 May, 2015 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (May 08, 2015).

Published 09 May, 2015 12:00am
Cotton rebounds from two-week low on positive US jobs report

Cotton rebounds from two-week low on positive US jobs report

ICE cotton futures rebounded on Friday from a two-week low hit the prior session, as a report showing job growth in the United States raised optimism about the economy, supporting most commodities. "If you're putting new jobs into the marketplace, that's
Published 09 May, 2015 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (May 08, 2015).
Published 09 May, 2015 12:00am
Shanghai copper up

Shanghai copper up

The most-traded July copper contract on the Shanghai Futures Exchange edged up 0.2 percent to 45,880 yuan ($7,389.63) a tonne on Friday after weaker-than-expected China trade data fanned hopes of further stimulus, with an upcoming US jobs report also in f
Published 09 May, 2015 12:00am
Copper softens, but signs of robust China demand support

Copper softens, but signs of robust China demand support

Copper was softer on Friday, but signs of robust demand from top consumer China helped support prices, while the tin market focussed on expectations of tighter supplies due to Indonesian export cuts. Three-month copper on the London Metal Exchange was unt
Published 09 May, 2015 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Friday (May 08, 2015).

Published 09 May, 2015 12:00am
Rubber rises

Rubber rises

Benchmark Tokyo rubber futures inched higher on Friday, after falling earlier in the session but scored their first weekly drop in four weeks due to profit-taking. The Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery finished 0.3 yen,
Published 09 May, 2015 12:00am
Palm oil lower

Palm oil lower

Malaysian palm oil futures fell on Friday as traders squared positions before the weekend and as weakness in competing oils weighed, but Indonesia's approval of export levies lifted the benchmark to its biggest weekly gain since February. "The market has
Published 09 May, 2015 12:00am
Weather outlook weighs on corn and soya

Weather outlook weighs on corn and soya

US corn and soyabean futures fell on Thursday, pressured by forecasts for wet and warm weather in the Midwest that will foster early development of both crops in the coming weeks, traders said. Wheat futures also dropped after a sharp rally on Wednesday d
Published 09 May, 2015 12:00am
Sugar futures rocket higher, coffee climbs

Sugar futures rocket higher, coffee climbs

Raw sugar futures surged the most in four months on Friday on short-covering and a stronger Brazilian real, which erodes incentives for producers in the world's largest exporter to sell dollar-denominated sweetener, as arabica futures also rallied. Cocoa
Published 09 May, 2015 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (May 08, 2015).

Published 09 May, 2015 12:00am
Brent posts weekly loss after month of gains; US crude up

Brent posts weekly loss after month of gains; US crude up

Brent oil posted its first weekly loss in a month on Friday as the market fretted again about global oversupply while US crude rose for an eighth straight week, helped by jobs growth data and the first storm of the hurricane season forming. Crude prices h
Published 09 May, 2015 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Friday (May 08, 2015).

Published 09 May, 2015 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 Friday (May 08, 2015).

Published 09 May, 2015 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 09 May, 2015 12:00am
Gold slips in New York

Gold slips in New York

Gold extended losses into a second day on Thursday as a firm dollar and early strength in bond yields dented its investment appeal, and weighed also by uncertainty over the timing of a US interest rate increase. Spot gold was down 0.8 percent at $1,182.31
Published 09 May, 2015 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 09 May, 2015 12:00am
Gold little changed in Asia

Gold little changed in Asia

Gold retained losses from the previous two sessions on Friday as equities and the dollar firmed, while traders awaited US nonfarm payrolls data to gauge the strength of the economy and its impact on the Federal Reserve's interest rate policy. Spot gold wa
Published 09 May, 2015 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 09 May, 2015 12:00am
Gold surges in Europe

Gold surges in Europe

Gold edged higher on Friday, snapping two days of losses, as revisions to US payrolls data supported speculation that the Federal Reserve may hold off raising interest rates in the immediate future. US job growth rebounded last month and the unemployment
Published 09 May, 2015 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 09 May, 2015 12:00am
US MIDDAY: wheat rises

US MIDDAY: wheat rises

US wheat futures rose on Friday, supported by results from an annual crop tour that projected below-average yields in Kansas, the top productions state for the grain, traders said. End-of-week short covering and some bargain buying following a 1.4 percent
Published 09 May, 2015 12:00am
US MIDDAY: gold moves higher

US MIDDAY: gold moves higher

Gold edged higher early on Friday, snapping two days of losses, as revisions to US payrolls data supported speculation that the Federal Reserve may hold off raising interest rates in the immediate future. US job growth rebounded last month and the unemplo
Published 09 May, 2015 12:00am
Harry Potter fans become wizards in Hogwarts-style role play

Harry Potter fans become wizards in Hogwarts-style role play

Clad in robes and pointed hats, would-be sorcerers wave their wands and cast spells as they hone their magic skills at their very own College of Wizardry. In scenes inspired by Hogwarts from the Harry Potter fantasy series, the students mix potions, tame
Published 09 May, 2015 12:00am
BRIDGE NOTES: An ace on ace

BRIDGE NOTES: An ace on ace

Bridge inculcates one to think logically. The cards always lie randomly silent if the opponents don't reveal them through their bidding. This makes the task of the declarer not an easy one. At times when the play dictates several options open for consider
Published 09 May, 2015 12:00am
The movie world gears up for Cannes

The movie world gears up for Cannes

The Cannes Film Festival will next week lift the curtain on 12 days of glamour, movies, deals and parties drawing the elite of the cinema world, from Hollywood honchos to arthouse auteurs. Under the Riviera sun - and high security - some of the industry's
Published 09 May, 2015 12:00am
Netflix takes Marvel to dark corners in bloody 'Daredevil'

Netflix takes Marvel to dark corners in bloody 'Daredevil'

He doesn't have Thor's hammer or Iron Man's suit, but that's not stopping Marvel's latest superhero from seeking justice in the seedy underbelly of Hell's Kitchen in Netflix Inc's first superhero series. "Marvel's Daredevil," which premiered all 13 episod
Published 09 May, 2015 12:00am
No problemo! Schwarzenegger takes first dramatic role in 'Maggie'

No problemo! Schwarzenegger takes first dramatic role in 'Maggie'

Action hero Arnold Schwarzenegger reveals his dramatic, tender side and sheds a few tears as a farmer struggling to care for his dying daughter in "Maggie," an unconventional zombie film. The drama spins a different take on the zombie genre, concentrating
Published 09 May, 2015 12:00am
Hands free talk with global reach and style

Hands free talk with global reach and style

Anytime, day or night, no matter which way you look, it seems you'll see someone with a smartphone in their hand. Jesse Robbins and Greg Albrecht of San Francisco based company Orion wanted to find a way to give people their hands back.
Published 09 May, 2015 12:00am
Enjoy delicious kairee recipes

Enjoy delicious kairee recipes

The warm season of summer brings with it a variety of colourful fruits for you to enjoy and add to your good health. The one of the amazing, tasty and mouth watering fruit is mango. The fruit in its raw green form is full of vital vitamins and minerals. E
Published 09 May, 2015 12:00am
World's biggest hurricane simulator aims to improve forecasts

World's biggest hurricane simulator aims to improve forecasts

The world's largest hurricane simulator is now complete and experts hope it will improve forecasters' ability to predict how strong a storm will get, which has been a key weak spot for science until now. The $15 million wind and wave machine at the Univer
Published 09 May, 2015 12:00am
Caviar cosmetics for the skin: experts debate benefits

Caviar cosmetics for the skin: experts debate benefits

Gold, tourmaline and platinum are materials for fine jewellery, but the cosmetics industry is now using them in exclusive skin-care products. Valuable substances from the depths of the sea such as caviar or pearls can now be found in luxurious creams. Fin
Published 09 May, 2015 12:00am
Stretching before exercise - a good idea or needless?

Stretching before exercise - a good idea or needless?

Sports scientists and trainers used to regard muscle stretching as an all-round performance booster, helping to prevent injury and sore muscles, but scientific studies have failed to back up either of these alleged benefits, German experts say.
Published 09 May, 2015 12:00am
ART FACTS: Understanding mankind

ART FACTS: Understanding mankind

Khalil Chistee's sculptures showed his concerns about human being's understanding of mankind. He wanted people to get rid of their usual thinking pattern and think creatively that will slowly and gradually develop creative minds that will bring change in
Published 09 May, 2015 12:00am
At last, a census has been scheduled

At last, a census has been scheduled

The population and housing census is scheduled for March next year, 17 years after the last one was held, it was announced last week by the Pakistan Bureau of Statistics (PBS). The news should be taken with a large pinch of salt. A census is supposed to t
Published 09 May, 2015 12:00am
A case for a presidential system in Pakistan

A case for a presidential system in Pakistan

It was the winter of 1968-69 and I was posted as one of three additional deputy commissioners in Dacca (now Dhaka) in East Pakistan. The deputy commissioner was Khurshid Anwar, a very seasoned district officer of the CSP, whose duty it was to remain in cl
Published 09 May, 2015 12:00am
Disney revenue gets lift from theme parks, TV networks

Disney revenue gets lift from theme parks, TV networks

Walt Disney Co's quarterly revenue beat analysts' expectations, helped by increased spending by visitors at its theme parks and strength in the company's TV networks business. The company's shares rose as much as 2 percent to a record high of $113.30 in e
Published 09 May, 2015 12:00am
Gazprom sets December 2016 launch of Turkish Stream pipeline

Gazprom sets December 2016 launch of Turkish Stream pipeline

Russian energy giant Gazprom announced Thursday that its new gas pipeline project Turkish Stream, supplying Russian gas to Turkey, will start operating in December next year. "An agreement has been reached on putting the Turkish Stream into service and st
Published 09 May, 2015 12:00am
GM likely to cease vehicle production in Venezuela in July

GM likely to cease vehicle production in Venezuela in July

General Motors Co said it is likely it will cease vehicle production in Venezuela in July as the automaker joins other US corporations in taking action to shield their profits from the South American country's volatile currency. GM has one plant in Venezu
Published 09 May, 2015 12:00am
KFC to take a bite of Myanmar market

KFC to take a bite of Myanmar market

KFC is poised to become the first major US fast food retailer in Myanmar, the company's local business partner announced Tuesday, as the long-isolated nation braces for an influx of international food outlets. The fried chicken retailer, one of the world'
Published 09 May, 2015 12:00am
Writedowns plunge Statoil into first quarter loss

Writedowns plunge Statoil into first quarter loss

Norwegian oil giant Statoil on Thursday said it fell deep into the red in the first quarter, owing mainly to writedowns on US assets including shale as well as plunging oil prices. In the first quarter, the company posted a net loss of 35.5 billion kroner
Published 09 May, 2015 12:00am
Infineon raises full-year sales targets

Infineon raises full-year sales targets

German semi-conductors giant Infineon on Tuesday raised its full-year sales targets on the back of the weaker euro and the first-time consolidation of US rival International Rectifier. "Based on an assumed exchange rate of $1.10 (as opposed to $1.20 previ
Published 09 May, 2015 12:00am
New heads for all three Chinese oil giants

New heads for all three Chinese oil giants

China has replaced the heads of its three biggest energy companies, the firms said in separate statements, as speculation mounts over reforms to the oil industry. China's Communist Party controls the management of the country's major state-owned enterpris
Published 09 May, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Thursday at Pakistan Mercantile Exchange (PMEX) value traded was PKR 2.592 billion. The number of lots traded was 14,264. PMEX Commodity Index closed at 2,662. Major business was contributed by crude oil amounting to PKR 1.651 billion followed by gold
Published 09 May, 2015 12:00am
US FOB Gulf corn offers mostly steady

US FOB Gulf corn offers mostly steady

US FOB Gulf corn basis offers were mostly steady on Thursday, underpinned by steady export demand and limited farmer selling, traders said. May offers were ill defined as some exporters were unwilling to quote prices amid uncertainty about near-term suppl
Published 09 May, 2015 12:00am
Karachi Port's activities

Karachi Port's activities

The Karachi Port handled 112,904 tonnes of cargo comprising 93,295 tonnes of import cargo and 19,609 tonnes of export cargo including 6,059 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargo of 93,2
Published 09 May, 2015 12:00am
US Midwest corn, soya bids mostly higher

US Midwest corn, soya bids mostly higher

Corn and soyabean spot basis bids were mostly steady to higher around the US Midwest on Thursday, buoyed by an overall slow pace of farmer sales and good demand, especially from processors of the commodities, dealers said. Bids for each crop jumped at a c
Published 09 May, 2015 12:00am
China's corn output seen up at record

China's corn output seen up at record

China is expected to produce a record 232 million tonnes of corn in 2015/16, up 7.6 percent on year, as farmers expand acreage due to Beijing's high price stockpile policy, according to a forecast by an official think-tank issued on Thursday. The estimate
Published 09 May, 2015 12:00am
China's wheat imports to rise to 2 million tonnes

China's wheat imports to rise to 2 million tonnes

China, the world's top wheat consumer, will import 2 million tonnes of the grain in the 2015/16 crop year, up a third from the relatively low levels in the previous year, according to a forecast by an official think tank on Thursday. The country's output
Published 09 May, 2015 12:00am
US natural gas futures lower

US natural gas futures lower

US natural gas futures turned slightly lower on Thursday but remained within a few cents of unchanged on a storage build that was close to expectations. The US Energy Information Administration said utilities added 76 billion cubic feet of gas into storag
Published 09 May, 2015 12:00am
European wheat futures down after fall on US markets

European wheat futures down after fall on US markets

European wheat futures weakened on Thursday after a fall on US markets while front month May, the last contract for the current season, tumbled as much as 6 percent before its expiry on Monday. December milling wheat, the new-crop benchmark on Euronext, w
Published 09 May, 2015 12:00am
Ukraine's grain exports seen at 30-32 million tones

Ukraine's grain exports seen at 30-32 million tones

Ukraine is likely to export no more than 32 million tonnes of grain in the 2014/15 season, Agriculture Minister Oleksiy Pavlenko said on Thursday, lowering an earlier forecast that put exports at up to 37 million tonnes. In the (July-June) 2013/14 season,
Published 09 May, 2015 12:00am
Cotton market: Prices of inferior commodity fall on subdued business

Cotton market: Prices of inferior commodity fall on subdued business

Easier trend prevailed on the cotton market on Friday as mills entered into small deals of low varieties due to limited stock, dealers said. The official spot rate was lower by Rs 50 Rs 5350, dealers said. In the ready session, around 3000 bales changed h
Published 09 May, 2015 12:00am
No change on grain market

No change on grain market

According to the Daily Commodity Market Report (DMR) of Grain Merchant Group, no change was seen in the rates of commodities on Friday.
Published 09 May, 2015 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Thursday, boosted by the weaker Canadian dollar. Overall planting in Saskatchewan, the biggest canola-growing province, is ahead of schedule. Canola seedings 8 percent complete. Most-active July canola added $1.30 to $4
Published 09 May, 2015 12:00am
Toyota says annual profit drove to record $18.1 billion

Toyota says annual profit drove to record $18.1 billion

Toyota said Friday its annual profit accelerated 19 percent to a record $18.1 billion as the world's biggest automaker capitalised on a weak yen and strong demand in North America, despite a damaging string of recalls. The company beat earlier forecasts w
Published 09 May, 2015 12:00am
Toyota says annual profit drove to record $18.1 billion

Toyota says annual profit drove to record $18.1 billion

Toyota said Friday its annual profit accelerated 19 percent to a record $18.1 billion as the world's biggest automaker capitalised on a weak yen and strong demand in North America, despite a damaging string of recalls. The company beat earlier forecasts w
Published 09 May, 2015 12:00am
Rolls-Royce warns of currency impact on reported revenues this year

Rolls-Royce warns of currency impact on reported revenues this year

UK engineering group Rolls-Royce warned on Friday that shifts in currency exchange rates could hit reported revenues this year but possibly not profits, maintaining its current forecast. The world's second-largest maker of aircraft engines after General E
Published 09 May, 2015 12:00am
Rolls-Royce warns of currency impact on reported revenues this year

Rolls-Royce warns of currency impact on reported revenues this year

UK engineering group Rolls-Royce warned on Friday that shifts in currency exchange rates could hit reported revenues this year but possibly not profits, maintaining its current forecast. The world's second-largest maker of aircraft engines after General E
Published 09 May, 2015 12:00am
Eurogroup chair plays down hopes of imminent Greece deal

Eurogroup chair plays down hopes of imminent Greece deal

Eurogroup chair Jeroen Dijsselbloem played down hopes of an imminent deal on Greece's debt, saying a meeting of finance ministers of the single currency on Monday was unlikely to be conclusive. "We need more time," the Dutch finance minister said after ta
Published 09 May, 2015 12:00am
Protests prompt Tunisian phosphate firm to suspend output

Protests prompt Tunisian phosphate firm to suspend output

Tunisia's state-run Gafsa Phosphate, its main exporter of the chemical, has suspended production after sit-in protests by unemployed youths demanding work halted deliveries, it said on Friday. Tunisia, once among the world's top phosphate exporters, has l
Published 09 May, 2015 12:00am