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Print - 2015-08-11
Monetary policy body: proposed SBP bill approved by NA body
Currency

Monetary policy body: proposed SBP bill approved by NA body

National Assembly's Standing Committee on Finance has approved the proposed State Bank of Pakistan (Amendment) Bill 2015 envisaging establishment of monetary policy committee aimed at taking independent decisions on monetary policy. The committee whose ch
Published 11 Aug, 2015 12:00am
Monetary policy body: proposed SBP bill approved by NA body
Currency

Monetary policy body: proposed SBP bill approved by NA body

National Assembly's Standing Committee on Finance has approved the proposed State Bank of Pakistan (Amendment) Bill 2015 envisaging establishment of monetary policy committee aimed at taking independent decisions on monetary policy. The committee whose ch
Published 11 Aug, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Monday (August 10, 2015).

Published 11 Aug, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Monday (August 10, 2015).

Published 11 Aug, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Monday (August 10, 2015).

Published 11 Aug, 2015 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (August 10, 2015).

Published 11 Aug, 2015 12:00am
Money Market Report
Kerb

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (August 10, 2015).
Published 11 Aug, 2015 12:00am
Currency notes: exchange rates
Currency

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (August 10, 2015).

Published 11 Aug, 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 Monday (August 10, 2015).

Published 11 Aug, 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 11 Aug, 2015 12:00am
State Bank of Pakistan conversion rates
Currency

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 11 Aug, 2015 12:00am
Construction of medical college, DHQ hospital approved

Construction of medical college, DHQ hospital approved

A meeting held under the chairmanship of Chief Minister Khyber Pakhtunkhwa Pervez Khattak on Monday approved construction project of Nowshera Medical College which would be completed in two phases at an estimated cost of 1914 million rupees.
Published 11 Aug, 2015 12:00am
River Indus in high flood

River Indus in high flood

The Indus River remained in high flood at Taunsa, Guddu, Sukkur and Kotri barrages from Muzaffargarh to Hyderabad/Kotri covering a distance of 400 kms. The river is likely to remain in this state during next eight days, authorities said Monday. The Flood
Published 11 Aug, 2015 12:00am
10 labourers kidnapped in Kurram Agency

10 labourers kidnapped in Kurram Agency

Armed men kidnapped 10 labourers engaged in development work and set a school building on fire here on Monday. Political administration sources said that unidentified miscreants carrying arms abducted 10 labourers who were busy in work in an under constru
Published 11 Aug, 2015 12:00am
Balochistan Assembly passes resolution against Altaf

Balochistan Assembly passes resolution against Altaf

Balochistan Assembly on Monday adopted resolution against Muttahida Qaumi Movement (MQM) chief Altaf Hussain's provocative speeches. The resolution condemned MQM chief's spouts against Pakistan and its defense institutions.
Published 11 Aug, 2015 12:00am
PPP for social, political integration of non-Muslims

PPP for social, political integration of non-Muslims

"The observance of the Minorities Day, every year on August 11, is an occasion to renew our pledge to social and political integration of our Non Muslim brethren in Pakistan, address their concerns as well as acknowledge and pay tributes to their role in
Published 11 Aug, 2015 12:00am
Prime Minister holds meeting with businesspeople

Prime Minister holds meeting with businesspeople

Prime Minister Nawaz Sharif on Monday held a meeting with the businesspeople accompanying him on his three-day official visit to Belarus. During the meeting, they discussed the prospects of economic cooperation and making Pak-Belarus Business Forum an opp
Published 11 Aug, 2015 12:00am
Newly-appointed German envoy meets COAS

Newly-appointed German envoy meets COAS

Ambassador Sabine Sparwasser, German Special Representative for Afghanistan and Pakistan (SRAP), visited GHQ and called on Chief of Army Staff General Raheel Sharif on Monday. During the meeting, matters of mutual interest and regional security came under
Published 11 Aug, 2015 12:00am
DI&I seizes huge quantity of poppy seeds at Port Qasim

DI&I seizes huge quantity of poppy seeds at Port Qasim

Directorate of Intelligence and Investigation (DI and I)-FBR Karachi has seized huge quantity of poppy seeds at Port Qasim; it was learnt here on Monday. According to official sources, the DI and I Export division on secret information intercepted three e
Published 11 Aug, 2015 12:00am
Expatriates remit $1.6 billion in July

Expatriates remit $1.6 billion in July

Overseas Pakistani workers remitted $1.664 billion in the first month of this fiscal year. The remittances inflows that arrived in July FY16, is about one percent higher than the same period of last fiscal year (FY15), in which an amount of $1.649 billion
Published 11 Aug, 2015 12:00am
Punjab Oils Mills Limited

Punjab Oils Mills Limited

Punjab Oil Mills Limited (PMOL) is a leading manufacturer of edible oils and fats, company established in Islamabad. The company was founded in 1983 as a manufacturer of Banaspati and Cooking Oil and started its commercial production in 1984. Since then t
Published 11 Aug, 2015 12:00am
Punjab Oils Mills Limited

Punjab Oils Mills Limited

Punjab Oil Mills Limited (PMOL) is a leading manufacturer of edible oils and fats, company established in Islamabad. The company was founded in 1983 as a manufacturer of Banaspati and Cooking Oil and started its commercial production in 1984. Since then t
Published 11 Aug, 2015 12:00am
'Theatre of the absurd'

'Theatre of the absurd'

This is in response to Business Recorder's editorial 'Theatre of the absurd'. The newspaper has raised a profound question. Pointing out that the Muttahida Qaumi Movement (MQM) chief's highly objectionable and irrational remarks against state institutions
Published 11 Aug, 2015 12:00am
Optimism for new Greek bailout deal despite German misgivings

Optimism for new Greek bailout deal despite German misgivings

Debt-ridden Greece and its creditors appeared on track Monday to finalise the terms of a third bailout agreement despite the misgivings of EU paymaster Germany. Amid reports that a deal could be announced by Tuesday, Greek ministers took a break from talk
Published 11 Aug, 2015 12:00am
'Competent cabinet'

'Competent cabinet'

During the past three months, Pakistan's minor rating/perception upgrades by Moody's, S&P, and Bloomberg were repeatedly cited by the finance minister as signs of Pakistan's progress. Now the Forbes magazine too has joined this optimistic lot. Great, but
Published 11 Aug, 2015 12:00am
Plan for peaceful Balochistan

Plan for peaceful Balochistan

Things finally seem to be moving on the right track in Balochistan. While presiding over the Balochistan Apex Committee meeting on Thursday, attended among others by the provincial Governor, Chief Minister, Army Chief, and Commander Southern Command; Prim
Published 11 Aug, 2015 12:00am
IMF waivers
Currency

IMF waivers

The economic team led by Finance Minister Ishaq Dar was granted two waivers during the mandated eighth quarterly review held in Dubai under the 6.64 billion dollar Extended Fund Facility. The waivers were for missing the (i) agreed deficit target of 4.9 p
Published 11 Aug, 2015 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 11 Aug, 2015 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 11 Aug, 2015 12:00am
Russian wheat prices flat

Russian wheat prices flat

Russian export prices for wheat remained flat last week as shippings were slow after delayed harvesting and a state wheat export tax launched on July 1, analysts said on Monday. Russia has exported 2.3 million tonnes of grains, including 1.4 million tonne
Published 11 Aug, 2015 12:00am
Copper bounces from six-year low as China imports tick up

Copper bounces from six-year low as China imports tick up

Copper rebounded from six-year lows on Monday, after stronger than expected imports of the metal from top consumer China offset a faltering picture for the economy as a whole. A scramble by some bearish investors to cover short positions also fuelled wide
Published 11 Aug, 2015 12:00am
Oil rebounds along with US gasoline, weaker dollar helps

Oil rebounds along with US gasoline, weaker dollar helps

Oil jumped almost 4 percent on Monday after a rally in US gasoline and diesel due to a refinery outage helped crude futures advance from multi-month lows. The dollar's drop to a near two-week low also made oil and other commodities denominated in the gree
Published 11 Aug, 2015 12:00am
Tokyo rubber rebounds

Tokyo rubber rebounds

Benchmark Tokyo rubber futures rose on Monday, rebounding from a nearly-7-month low hit earlier in the day, as a gain in Shanghai futures in the wake of stronger Chinese equities prompted fresh buying, dealers said.
Published 11 Aug, 2015 12:00am
Chilean copper production rises

Chilean copper production rises

Copper production in Chile rose slightly in the first six months of 2015 compared to a year ago, with substantial growth at some large projects countered by scheduled maintenance and disruptive protests at others, the government said on Monday.
Published 11 Aug, 2015 12:00am
Palm oil ticks lower amid caution over trade
Vegetable Oil

Palm oil ticks lower amid caution over trade

Malaysian palm oil futures ticked lower on Monday, extending losses into a seventh week as traders remained cautious due to trade and production data, despite signs that shipments from the world's second-largest producer increased this month.
Published 11 Aug, 2015 12:00am
Raw sugar taps seven-year low, arabica surges

Raw sugar taps seven-year low, arabica surges

Raw sugar futures on ICE dropped to a seven-year low on Monday due to pressure from a large cane crush in top producer Brazil's main growing region, while arabica coffee had its biggest rally in more than four months on heavy short-covering and spreading.
Published 11 Aug, 2015 12:00am
Gold stalls in Asian trade

Gold stalls in Asian trade

Gold ticked higher but stayed within striking distance of a 5-1/2-year low on Monday, after solid US job gains in July suggested the Federal Reserve could raise interest rates as early as next month. US nonfarm payrolls increased 215,000 in July, less tha
Published 11 Aug, 2015 12:00am
Gold edges up as support below $1,100 disappoints bears

Gold edges up as support below $1,100 disappoints bears

Gold extended a recovery from recent lows on Monday as its resilience below $1,100 an ounce disappointed those expecting a deeper decline, but expectations that US interest rates could rise as early as September kept up pressure on prices.
Published 11 Aug, 2015 12:00am
ICE Canada canola rises

ICE Canada canola rises

ICE Canada canola futures jumped to a two-week high on Monday, lifted by concerns about dry areas of the US Midwest. The US dryness concerns boosted prices of soybeans and support for the rival oilseed spilled over to canola, a trader said. Traders seen a
Published 11 Aug, 2015 12:00am
US MIDDAY: corn surges

US MIDDAY: corn surges

Chicago Board of Trade corn futures rose more than 4 percent for their largest daily gains in nearly six weeks on Monday, lifted by investor short covering ahead of a government crop report due on Wednesday, traders said.
Published 11 Aug, 2015 12:00am
US MIDDAY: corn and soy at two-week highs

US MIDDAY: corn and soy at two-week highs

Chicago Board of Trade corn and soybean futures climbed to two-week highs on Monday on concern about stressful weather in the United States and Europe, coupled with positioning ahead of a monthly US government crop report, traders said.
Published 11 Aug, 2015 12:00am
Good weather boosts Ivory Coast cocoa main crop

Good weather boosts Ivory Coast cocoa main crop

Patchy rain and intermittent sunshine in the last week over most of Ivory Coast's cocoa regions is helping the main crop grow but there is concern elsewhere over cooler weather, farmers said on Monday. In the western region of Soubre at the heart of the c
Published 11 Aug, 2015 12:00am
Russian wheat export prices remain flat

Russian wheat export prices remain flat

Russian export prices for wheat remained flat last week as shippings were slow after delayed harvesting and a state wheat export tax launched on July 1, analysts said on Monday. Russia has exported 2.3 million tonnes of grains, including 1.4 million tonne
Published 11 Aug, 2015 12:00am
Indonesia unlikely to import rice in early 2016

Indonesia unlikely to import rice in early 2016

Indonesia's Bulog is unlikely to import rice this year but overseas buys are possible by March or April 2016 due to delays in planting caused by a dry El Nino weather pattern, the head of the state food buyer said on Monday. Bulog currently has 1.5 millio
Published 11 Aug, 2015 12:00am
Cotton market: mills play active role in moderate trade
Cotton

Cotton market: mills play active role in moderate trade

Mills played an active role in fresh buying on the cotton market on Monday in the process of moderate trading, dealers said. The official spot rate was unchanged at Rs 4,450, dealers said. Seed cotton prices in Sindh were at Rs 2100 and Rs 2350 and in Pun
Published 11 Aug, 2015 12:00am
Chinese 2014-15 soya imports seen at record high

Chinese 2014-15 soya imports seen at record high

China, the world's top soya buyer, is likely to import a record 76 million tonnes of the oilseed in the year ending September, up 8 percent from the previous year, according to the latest estimate from an official think tank.
Published 11 Aug, 2015 12:00am
Indian soyaoil and soyabean up on patchy rains

Indian soyaoil and soyabean up on patchy rains

Indian soyaoil and soyabean futures rose on Monday due to patchy rains in some key growing areas, shrugging off gains in the overseas palm oil market. Malaysian palm oil futures ticked lower on Monday, extending losses into a seventh week as traders remai
Published 11 Aug, 2015 12:00am
Upward trend on grain market
Cotton

Upward trend on grain market

A rising trend prevailed on the local grain market on Monday in the process of trading, dealers said. On the cereals side, Makai low type was higher by Rs 250 to Rs 2125 and the best variety was higher by Rs 125 to Rs 2250, Barley Sindh and Mardan low typ
Published 11 Aug, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Friday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 10.17 billion. The number of lots traded was 48.52 million. PMEX Commodity Index closed at 2,496. Major business was contributed by gold amounting to PKR 9.30 billion followed by crud
Published 11 Aug, 2015 12:00am
Jordan seeks to buy hard wheat

Jordan seeks to buy hard wheat

Jordan's state grain buyer has issued an international tender to purchase 100,000 tonnes of hard milling wheat which can be sourced from optional origins, European traders said on Monday. The tender closes on Wednesday, August 12, they said.
Published 11 Aug, 2015 12:00am
Saudi Arabia tenders for 495,000 tonnes of hard wheat

Saudi Arabia tenders for 495,000 tonnes of hard wheat

Saudi Arabia's state wheat buying agency, the Grain Silos and Flour Mills Organisation (GSFMO), said on Thursday it had issued an international tender to purchase 495,000 tonnes of hard wheat. The tender deadline is Friday, August 7, the GSFMO said, addin
Published 11 Aug, 2015 12:00am
China to buy 1m tonnes of Thai rice

China to buy 1m tonnes of Thai rice

China will buy 1 million tonnes of rice from Thailand, the Thai commerce minister said on Monday, easing pressure on a military government struggling to shift stockpiles of the grain accumulated under a previous farm-subsidy programme.
Published 11 Aug, 2015 12:00am
Shanghai rebar futures fall to two-week lows

Shanghai rebar futures fall to two-week lows

Shanghai rebar futures dropped to two-week lows on Monday, reflecting weak demand in China that pushed producers to sell more overseas, with shipments last month the second highest on record. China exported 9.73 million tonnes of steel products in July, u
Published 11 Aug, 2015 12:00am
Israeli group tenders to buy corn

Israeli group tenders to buy corn

A group of Israeli private buyers has issued an international tender to purchase up to 110,000 tonnes of corn sourced from optional origins, European traders said on Monday. The tender closes on Thursday, August 13, traders said.
Published 11 Aug, 2015 12:00am
US Midwest soyabean bids ease

US Midwest soyabean bids ease

Soyabean spot basis bids eased by 5 cents per bushel at a processing plant in Lafayette, Indiana, on Friday after a 2 percent jump in futures sparked light selling of the beans by farmers, grain merchants said. Bids in Lafayette declined to 95 cents per b
Published 11 Aug, 2015 12:00am
China's July coal imports at eight-month high

China's July coal imports at eight-month high

China, the world's largest coal buyer, imported 21.26 million tonnes of coal in July, up 28.1 percent on the month as buyers took advantage of weak global prices, customs data showed on Saturday. Coal deliveries reached their highest level since last Dece
Published 11 Aug, 2015 12:00am
Karachi Port's activities

Karachi Port's activities

The Karachi Port handled 318,656 tonnes of cargo comprising 227,467 tonnes of import cargo and 91,189 tonnes of export cargo including 7,026 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday.
Published 11 Aug, 2015 12:00am
Ukraine's July exports 2.86 million tonnes of grain

Ukraine's July exports 2.86 million tonnes of grain

Ukraine exported 2.86 million tonnes of grains in July, topping officially reported figures, the UkrAgroConsult consultancy said on Tuesday. It said exports included 1.076 million tonnes of wheat, 756,000 tonnes of maize and 974,000 tonnes of barley.
Published 11 Aug, 2015 12:00am
CBOT wheat futures higher on bargain buying

CBOT wheat futures higher on bargain buying

Chicago Board of Trade wheat futures closed higher on Friday for a third straight session on bargain buying after the September contract hit a six-week low early in the week, traders said. K.C. hard red winter and MGEX spring wheat futures also ended high
Published 11 Aug, 2015 12:00am
US Plains HRW wheat bids softer

US Plains HRW wheat bids softer

Spot basis bids for hard red winter (HRW) wheat were steady to softer in the southern US Plains on Friday, led by sluggish demand at the US Gulf amid adequate supplies, grain dealers said.
Published 11 Aug, 2015 12:00am
FIBA lifts ban on Russian teams

FIBA lifts ban on Russian teams

Bastketball's international ruling body FIBA has lifted a ban on Russia's national teams taking part in competitions, local media reported. FIBA last month barred Russian national teams from all competitions over a bitter legal dispute between the current
Published 11 Aug, 2015 12:00am
Sugiarto advances in world badminton championship

Sugiarto advances in world badminton championship

Home favourite Tommy Sugiarto cruised into the second round of the badminton world championships with a two-set victory over European Games victor Pablo Abian as the tournament got under way Monday in Jakarta. Sugiarto, Indonesia's top medal hopeful, defe
Published 11 Aug, 2015 12:00am
Football: Japan's Chinese flop sparks World Cup alarm

Football: Japan's Chinese flop sparks World Cup alarm

Japan's abject failure at the East Asian Cup triggered alarm in local media Monday with some slamming coach Vahid Halilhodzic for making excuses. A photograph of the Franco-Bosnian coach hunched over, banging a water bottle against his head in frustration
Published 11 Aug, 2015 12:00am
Modi reveals plans for breakaway governing body

Modi reveals plans for breakaway governing body

Former cricket boss Lalit Modi admitted Monday his involvement in a plot to overthrow the sport's establishment, aiming to create a new world governing body affiliated with the Olympic movement. The ex-Indian Premier League chairman, who is wanted by poli
Published 11 Aug, 2015 12:00am
Burgess to make England debut against France

Burgess to make England debut against France

Rugby League convert Sam Burgess will have a chance to book his place in the England rugby union side's World Cup squad after being handed a Test debut in the team named on Monday by coach Stuart Lancaster for Saturday's warm-up match against France at Tw
Published 11 Aug, 2015 12:00am
Ashes quartet available for county duty

Ashes quartet available for county duty

England captain Alastair Cook and fellow Ashes-winners Moeen Ali, Ian Bell and Jos Buttler have all been cleared to play for their counties in this week's domestic Twenty20 quarter-finals, the England and Wales Cricket Board announced Monday.
Published 11 Aug, 2015 12:00am
India set for Sangakkara's farewell party

India set for Sangakkara's farewell party

India hope to end a 22-year wait for a Test series win in Sri Lanka when the three-match rubber marking Kumar Sangakkara's farewell opens in Galle on Wednesday. The Sri Lankan batting great, whose 12,305 runs make him Test cricket's leading scorer among t
Published 11 Aug, 2015 12:00am
Asif, Asjad, Pankaj, Bintao in World 6-Red Snooker semis

Asif, Asjad, Pankaj, Bintao in World 6-Red Snooker semis

Pakistan's Muhammad Asif and Asjad Iqbal with defending champion Pankaj Advani of India and China's Bintao breezed into the semi-final of IBSF World 6-Red World Snooker Championship after winning their quarter-finals on Monday evening.
Published 11 Aug, 2015 12:00am
Ireland's O'Donnell out of World Cup

Ireland's O'Donnell out of World Cup

Ireland flanker Tommy O'Donnell will miss next month's World Cup after suffering a dislocated hip in last weekend's opening warm-up win against Wales, the Irish Rugby Football Union announced Monday.
Published 11 Aug, 2015 12:00am
India suffer Vijay blow for Sri Lanka Test

India suffer Vijay blow for Sri Lanka Test

India's dependable opener Murali Vijay has been ruled out of the first Test against Sri Lanka after failing to recover from a hamstring injury, team director Ravi Shastri said on Monday. Vijay suffered the injury during last month's limited-overs tour of
Published 11 Aug, 2015 12:00am
EFU Life signs agreement with Advantedge & Partners

EFU Life signs agreement with Advantedge & Partners

EFU Life Assurance Ltd and Advantedge & Partners (Pvt) Ltd have entered into a Service and Consultancy Agreement to explore areas of mutual interest in business development for Life Insurance and Savings solutions. EFU Life is a leading life insurance com
Published 11 Aug, 2015 12:00am