News Archives for Print - 2015-05-31

Budget (2015-16): Concept of temporary ST registration to be introduced

The Federal Board of Revenue (FBR) has decided to introduce the concept of temporary sales tax registration in budget (2015-16) to facilitate the business community, seeking new sales tax registration numbers (STRNs). Sources told Business Recorder </i

Published 31 May, 2015 12:00am

Budget (2015-16): Concept of temporary ST registration to be introduced

The Federal Board of Revenue (FBR) has decided to introduce the concept of temporary sales tax registration in budget (2015-16) to facilitate the business community, seeking new sales tax registration numbers (STRNs). Sources told Business Recorder </i
Published 31 May, 2015 12:00am

Auto Policy: Import of used cars to be made transparent: Dastgir

Commerce Minister Engineer Khurram Dastgir has said that the import of used cars will be made transparent in the Auto Policy. "A final draft of new Auto Policy has been shared with Commerce Ministry but our view is very clear that the entire regime of gif
Published 31 May, 2015 12:00am

Currency
SBP rules out rupee devaluation

State Bank of Pakistan (SBP) Saturday said that the federal government has no plan to devalue Pak rupee against the dollar. During a meeting with the representatives of Exchange Companies Association of Pakistan (ECAP), State Bank Governor Ashraf Mehmood
Published 31 May, 2015 12:00am

Urea import: Dar asks EAD to specify credit line for financing

Finance Minister Ishaq Dar has directed the Economic Affairs Division (EAD) to identify a credit line on best possible terms to finance the import of 0.15 million tons urea, official sources told Business Recorder. Giving the details, sources said,
Published 31 May, 2015 12:00am

Khattak blames ECP for mismanagement

Khyber Pakhtunkhwa Chief Minister Pervaz Khattak on Saturday blamed the Election Commission of Pakistan (ECP) for the mismanagement witnessed across the province during the daylong polling. "We put the whole administration at the disposal of the ECP. Our
Published 31 May, 2015 12:00am

Six killed, dozens injured: violence mars polls in KP

Six persons were killed and dozens including a police constable injured, during local bodies' elections in different parts of the Khyber Pakhtunkhwa on Saturday. Three persons were killed in Charsadda, two in D.I. Khan and one in Kohat while more than 30
Published 31 May, 2015 12:00am

Mastung killings aimed at creating ethnic tensions

The Mastung massacre, widely regarded as the action of anti-Pakistan forces focused on sabotaging China-Pakistan Economic Corridor (CPEC), has brought rival Pashtoon and Baloch nationalists together to fight against the common enemy - militancy and insurg
Published 31 May, 2015 12:00am

Strike observed, protest demonstration staged

An uneasy calm prevailed in the metropolis here Saturday as a shutter-down strike against the Mastung massacre was observed by people. The bodies were brought to M A Jinnah Road to be taken to the Governor's House by the heirs of the deceased to stage a p
Published 31 May, 2015 12:00am

Major operation launched: RAW behind Mastung killings: minister

Balochistan Home Minister Mir Sarfraz Bugti Saturday said that India's Research and Analysis Wing (RAW) and its funded Lashkars (militias) were behind the Mastung killings. He was addressing a joint press conference along with Chief Minister Dr Abdul Mal
Published 31 May, 2015 12:00am

Prime Minister, CoAS, ISI chief discuss security situation

Prime Minister Nawaz Sharif on Saturday said that terrorism and extremism constitute the biggest challenge to a secure and prosperous Pakistan. The Prime Minister also expressed his serious concerns about recent statements by Indian Political leadership.
Published 31 May, 2015 12:00am

The Weather

The weather report on Saturday (May 30, 2015) and the forecast for Sunday (May 31, 2015).

Published 31 May, 2015 12:00am

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Yarn Prices
Karachi Yarn Market Rate

Karachi Yarn Market Rates on Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Yarn Prices
Faisalabad yarn and fibre prices

Cotton yarn rates in rupees per 10 Lbs on Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (May 30, 2015)

Published 31 May, 2015 12:00am

Lahore Paper Market Rates

Paper market rates in rupees on Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Cotton
Grain market rates

Karachi grain market rates in rupees on Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Kerb
Kerb buying and selling rate of US dollar

Dollar buying and selling rate in the kerb market in rupees on Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Currency
THE RUPEE: no change in rates

The rupee showed no change against the dollar on the money market on Saturday in the process of trading, they said. The rupee, somehow, managed to hold overnight levels against the dollar for buying and selling at Rs 103.50 and Rs 103.70, they said, addin
Published 31 May, 2015 12:00am

Cross Transactions between Client to Client & Financial Institutions

The following were the cross transactions between client to client & financial institutions here on Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Member to Member

The following transactions member to member subsequently reported on Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Currency
Open market rates of foreign currencies

Open market rates of foreign currencies supplied by the Forex Association of Pakistan on Saturday (May 30, 2015).

Published 31 May, 2015 12:00am

Asian naphtha crack recovers

Asia's naphtha crack recovered to a nine-session high of $91.63 a tonne on Friday, supported by strong gasoline demand, traders said. They added that a fire at top Japanese refiner JX Nippon Oil & Energy Corp's Kashima refinery could have also lifted sent
Published 31 May, 2015 12:00am

Indian soyaoil futures rise

Indian soyaoil futures rose on Friday, taking cue from rival palm oil, while soyabeans saw buying support on reports of a likely delay in the monsoon's progress towards the oilseed-growing regions. Malaysian palm oil futures edged up to their highest in m
Published 31 May, 2015 12:00am

Cotton
Upward trend on grain market

Most of the commodities maintained an upward trend on the wholesale grain market on Saturday in the process of modest trading, dealers said. On the cereals side, Moong Punjab gained Rs 875 to Rs 10125, Moong Afghan was up by Rs 25 to Rs 12000, wheat new B
Published 31 May, 2015 12:00am

Asian coffee: Vietnam premiums surge but trade standstill

Trade in Vietnamese coffee came to a standstill on Thursday as prices slightly recovered from multi-month lows hit earlier this week but were still far below sellers' expectations, traders said. In Indonesia, the harvest has been slower than in 2014, sugg
Published 31 May, 2015 12:00am

US natural gas futures fall over two percent on weaker demand

US natural gas futures on Friday fell over 2 percent on forecasts for weaker power demand over the next two weeks. Front-month gas futures on the New York Mercantile Exchange closed down 6.4 cents at $2.642 per million British thermal units. With the decl
Published 31 May, 2015 12:00am

EU spring barley crop down on year but good average

The European Union is likely to have a good crop of spring barley in 2015 for beer and malt production, but down on last year's bumper harvest, crop experts said on Friday. "Overall crops are looking well, although there is dryness in parts of Spain and n
Published 31 May, 2015 12:00am

Cotton
Oil cake market rates

The July vaida was up on the forward cottonseed oilcake market on Saturday in the process of trading, dealers said. The July vaida closed at Rs 1849.00 on Thursday and it opened 50 paisa gain at Rs 1849.50, they said. The December vaida ended at Rs 1400.0
Published 31 May, 2015 12:00am

Cotton
Cotton market: rates stabilise on cautious selling by ginners

Not many fluctuations were seen in the prices on the cotton market on Saturday amid cautious selling by ginners, dealers said. The official spot rate was inert at Rs 5450, dealers said. In the ready session, over 3000 bales changed hands between Rs 5550-5
Published 31 May, 2015 12:00am

CBOT wheat futures fall on technical selling

Wheat futures on the Chicago Board of Trade fell to a two-week low on Friday on technical selling and ideas that US supplies are uncompetitive on the world market, traders said. CBOT July wheat fell 38-1/4 cents per bushel for the week, or more than 7 per
Published 31 May, 2015 12:00am

Currency
Brazil likely to expand soya area despite low prices

Farmers will likely expand the area planted with soyabeans in Brazil for a ninth consecutive year, local analysts and farm groups said, even with prices of the country's main export crop down by a quarter from a year ago. Earlier this year, some analysts
Published 31 May, 2015 12:00am

Vegetable Oil
Palm oil prices rise on Europe's vegoils market

Palm oil prices rose on Europe's vegetable oils market on Thursday after a two-week high for Malaysian futures, but sellers later trimmed their offers to stir some demand. Malaysian palm oil futures rallied on the back of a falling ringgit and signs that
Published 31 May, 2015 12:00am

US FOB Gulf wheat premiums ease on weak CIF

US Gulf Coast wheat export premiums eased on Friday as CIF barge basis values dropped and as US grain struggled to compete in global markets, traders said. A drier forecast for southern winter wheat areas reduced some concerns about crop damage from recen
Published 31 May, 2015 12:00am

Asian rubber prices rise as China snaps up more Thai cargoes

Prices for rubber cargoes in Asia continued to pick up this week as demand streamed in from the world's biggest consumer China, while supply constraints in top grower Thailand aided the rally. Physical rubber prices have benefited from joint efforts to cu
Published 31 May, 2015 12:00am

Vietnamese rice prices at 5-year low, Thai rice steady

Vietnamese rice fell to multi-year lows this week as fresh supply came into the market, while Thai prices were steady, with an upcoming Philippine tender to purchase the grain having little impact for now, traders said on Wednesday. The Philippines has in
Published 31 May, 2015 12:00am

Indonesia's coffee output forecast cut on El Nino worries

Indonesia's coffee output will fall short of a previous estimate by around 50,000 tonnes this year due to an El Nino weather pattern that is likely to cause dry spells across key growing areas, an industry group said on Friday. The Association of Indonesi
Published 31 May, 2015 12:00am

European wheat futures hit two-week low

European wheat futures fell to a two-week low on Friday as weak US prices, favourable crop prospects and short-term export competition outweighed risks raised by a new Russian wheat tariff. December milling wheat, the new crop benchmark and most active co
Published 31 May, 2015 12:00am

Colombia unveils new stimulus plan to help counter slowing growth

Colombian President Juan Manuel Santos unveiled a package of measures on Thursday aimed at stoking the Andean nation's economy as weaker oil prices and slower investment forced the government to revise down its growth outlook. The so-called PIPE 2.0 progr
Published 31 May, 2015 12:00am

Currency
New York's Bienville Capital sees bargains in Argentina

Argentina's real estate, utility and agricultural sectors all offer a smart bet ahead of a change in government in December, said New York-based Bienville Capital Management, whose new Argentina-focused fund has raised about $250 million. Foreign investor
Published 31 May, 2015 12:00am

AirAsia profit up in first quarter

Malaysia-based AirAsia, the region's biggest low-cost carrier by fleet size, said its first-quarter net profit climbed seven percent year-on-year due mainly to lower fuel and operating costs. Net profit for the quarter ending March 31 was 149.3 million ($
Published 31 May, 2015 12:00am

Nigeria's Akinwumi Adesina voted new Africa bank chief

Nigeria's outgoing agriculture minister Akinwumi Adesina won the vote Thursday to become the new president of the African Development Bank, official results showed. Adesina, 55, will succeed Rwandan Donald Kaberuka, chief for two consecutive terms since 2
Published 31 May, 2015 12:00am

Cyprus tourism income rises 15 percent with surge in arrivals

Recession-hit Cyprus recorded a 15 percent hike in key tourism revenue in March, the first rise in income this year, official data showed on Friday. Tourism income on the Mediterranean holiday island reached 65 million euros ($71 million) from 56.5 millio
Published 31 May, 2015 12:00am

Latin America development bank CAF eyes presence in Cuba

The Development Bank of Latin America (CAF) aims to be the first multilateral lender present in Cuba, its executive president said on Thursday, as the communist-run island seeks foreign investment amid a diplomatic opening to the United States. Buzz aroun
Published 31 May, 2015 12:00am

Romania's Fondul eyes London listing

Romanian investment fund Fondul Proprietatea hopes foreign investors will hold at least 15 percent of the fund through its secondary listing in London, its manager Greg Konieczny said on Wednesday. Set up in 2005 to compensate Romanians whose properties w
Published 31 May, 2015 12:00am

Mobile apps turn bedroom traders into star professionals

When Noa Strijbos picks a financial asset to trade on her smartphone while taking her dog for a walk, almost 26,000 people pay close attention. The 30-year-old Dutchwoman is among the top-ranked traders on eToro.com, one of several mobile apps and website
Published 31 May, 2015 12:00am

Saudi Ground Services to raise $752 million from IPO

Saudi Ground Services Co, a unit of national carrier Saudi Arabian Airlines, has set the price for its 30 percent initial share sale at 50 riyals per share, a statement from the company's financial adviser said on Thursday. The price, set following a book
Published 31 May, 2015 12:00am

German yields at three-week low on Greek aid standoff

German bond yields fell to their lowest in three weeks on Friday, amid mixed signals from Greece's aid talks and US data showing the world's biggest economy shrank in the first quarter. Athens intends to reach an agreement on a cash-for-reforms deal by Su
Published 31 May, 2015 12:00am

Pessimism reigns as economic gloom weighs on TSX

Canada's main stock index fell on Friday, with heavyweight banks tipping the scales to the downside amid broad pessimism about domestic economic growth and the uncertain outlook for industries tied to energy. The Toronto Stock Exchange's S&P/TSX composite
Published 31 May, 2015 12:00am

South Korea doubles stock price trading band, seeks to cut speculative risks

South Korea will double the daily price band for stocks listed on its two main exchanges to allow them to trade 30 percent higher or lower, a move aimed at boosting transactions and reducing the risk of markets being driven by speculative trades.
Published 31 May, 2015 12:00am

Treasuries outlook: Yields hit multi-week lows

US Treasury yields fell on Friday, with benchmark and long-dated US yields hitting their lowest in more than three weeks, as data showing the US economy contracted in the first quarter supported views of a later Federal Reserve interest-rate hike. The gov
Published 31 May, 2015 12:00am

Russell index adjustments could produce $40 billion trade flurry

Investors trying to capitalize on the annual tweaks to the makeup of Russell stock indexes may produce a rush of transactions worth over $40 billion in the final moments of trading on Friday, June 26, when those changes are formalized. The Wall Street sum
Published 31 May, 2015 12:00am

Rocket Internet eyes IPOs

German e-commerce investor Rocket Internet aims to list the shares in two of its holdings, Global Fashion Group and Global Online Takeaway Group, eight months after its own initial public share offer, monthly Manager Magazin said. Shares in the two firms
Published 31 May, 2015 12:00am

FTSE Russell unveils transitional indexes that include China A shares

FTSE Russell, one of the world's largest index providers, will launch two transitional indexes that include China A shares - a step that paves the way for Chinese-listed shares to later be included in its emerging markets benchmark, the company's CEO said
Published 31 May, 2015 12:00am

Wall Street ends down after weak economic data but gains in May

US stocks closed lower on Friday as data showed the economy contracted in the first quarter but indexes still posted gains for the month. Transportation shares also weighed on the market, extending recent losses. The Dow Jones transportation average fell
Published 31 May, 2015 12:00am

Currency
African currencies week ahead: African currencies weaken as dollar demand weighs

African currencies are seen weaker next week but dealers in Nigeria said they hoped the central bank could relax its foreign exchange trade restrictions under a new government due to take office on Friday.
Published 31 May, 2015 12:00am

Currency
Euro woes won't hurt its global reserve currency status: Nomura

Question marks over the euro's prospects as a sought-after global reserve currency are premature even though its presence in central bank's reserves is likely to drop to historical lows, Nomura said on Tuesday. A year-long slide in the euro and a recent m
Published 31 May, 2015 12:00am

Currency
Russia to announce criteria for forex reserve sufficiency

Russia's central bank will soon announce new criteria that will be used to determine whether it regards its international reserves as sufficient, a senior bank official said on Tuesday. "We have sufficient reserves... At the moment we are working on more
Published 31 May, 2015 12:00am

Currency
Swiss franc expected to steady or weaken

The Swiss franc is set to remain at its current level or weaken further, a survey of analysts by Credit Suisse and the German ZEW economic research institute showed on Wednesday. Switzerland's currency has rocketed in value this year after the Swiss Natio
Published 31 May, 2015 12:00am

Currency
Oil surge helps Canadian dollar counter GDP contraction

A surge in the price of crude oil helped keep the Canadian dollar steady on Friday, shrugging off data showing the Canadian economy contracted in the first quarter. While bond markets rose after the gross domestic product data on bets that there is more o
Published 31 May, 2015 12:00am

Dollar ends winning month mixed

The dollar was mixed on Friday with month-end selling after a recent rally, as traders saw little in weak first-quarter US gross domestic product data to discourage bets the Federal Reserve will start raising interest rates in 2015. The dollar index trade
Published 31 May, 2015 12:00am

Currency
Norway to sell NOK 700 million of FX per day in June

Norway's central bank will sell foreign exchange equivalent of 700 million Norwegian crowns ($90.20 million) per day in June, unchanged from its practice in May, the bank said on its page on Friday. The bank is selling the currency because the government'
Published 31 May, 2015 12:00am

Daily FX volumes fall back to $4.64 trillion in April

Average daily volumes in the global foreign exchange market fell back below $5 trillion a day in April, data from FX settlement bank CLS showed on Thursday. The value of all transactions through the CLS system, which is used almost universally by the bank
Published 31 May, 2015 12:00am

Currency
US dollar net longs rise in latest week

Speculators boosted bullish bets on the US dollar after scaling them back for eight consecutive weeks, according to Reuters calculations and data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position
Published 31 May, 2015 12:00am

South Africa's rand under pressure

South Africa's rand weakened for the second straight day against the dollar on Friday, hitting a session trough after data from the revenue service showed a trade deficit for April, the latest sign of a struggling economy. The local unit was within easy r
Published 31 May, 2015 12:00am

Citi keeps top spot in FX trading

European banks Deutsche Bank, Barclays and UBS have seen their market share in foreign exchange trading slump in the past year, as US banks led by Citigroup grabbed business, according to widely watched industry rankings. Citigroup kept its top spot as th
Published 31 May, 2015 12:00am

Currency
Vietnam devalues dong

Vietnam devalued the dong for the second time this year on Thursday to spur exports and curb demand for imports that has left it with a hefty trade deficit. Given the recent relative strength of the currency, the move was widely expected, especially after
Published 31 May, 2015 12:00am

Currency
Asia FX sentiment worsens on Fed policy bets, yuan an exception

Sentiment towards most emerging Asian currencies worsened in the last two weeks with short positions in India's rupee near a two-year high as expectations firmed that US interest rates will move higher by year end, a Reuters poll showed on Thursday. The C
Published 31 May, 2015 12:00am

New blow to Nkurunziza as Burundi election official flees

Burundian President Pierre Nkurunziza's controversial bid to stand for a third term in office suffered a new blow on Saturday after it emerged that a top election official had fled the country. Sources said the election commission's vice president, Spes C
Published 31 May, 2015 12:00am

New treatments may prolong health after breast cancer

Promising advances in research could mean longer, healthier lives for women with breast cancer, the number one cancer in women worldwide, experts said Saturday at a major US cancer conference. A new targeted therapy that appears to double the amount of ti
Published 31 May, 2015 12:00am

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	158.33
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 26	5099.96
India Sensex / Apr 26	73730.16
Tokyo Nikkei / Apr 26	37934.76
Nasdaq / Apr 26	15927.90
Hang Seng / Apr 26	17651.15
FTSE 100 / Apr 26	8139.83
Dow Jones / Apr 26	38239.66
Germany DAX 30 / Apr 26	18161.01

Item	Value
Crude Oil USD/Barrel / Apr 26	83.85
Karachi Cotton PKR/37.32 KG / Apr 26	20535
Gold 10 Grams PKR / Apr 26	210048
Gold Spot USD/Ounce / Apr 26	2337.96
Cotton US¢/pound / Apr 26	80.90
Petrol/Litre / Apr 29	293.94

Stock	Price
786 Invest Ltd / Apr 29 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 29 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 29 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 29 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 29 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 29 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 29 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 29 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 29 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 29 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 29 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 29 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 29 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 29 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 29 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 29 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 29 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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