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Apr 27, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2016-04-17
Australia unveils new A$5 note in currency overhaul
Currency

Australia unveils new A$5 note in currency overhaul

The Reserve Bank of Australia (RBA) on Tuesday unveiled the design of a new A$5 bill as part of a currency overhaul to improve banknote security. The banknote will feature new security measures, including a new distinctive top-to-bottom window, the RBA sa
Published 17 Apr, 2016 12:00am
US dollar net longs hit lowest since January 2009

US dollar net longs hit lowest since January 2009

Speculators chopped bullish bets on the US dollar for a sixth straight week, pushing net longs to their lowest since late January 2009, according to Reuters calculations and data from the Commodity Futures Trading Commission released on Friday. The value
Published 17 Apr, 2016 12:00am
China lowers yuan rate by most in three months
Exchange

China lowers yuan rate by most in three months

China's central bank cut its exchange rate for the yuan currency against the US dollar by the largest amount in three months Thursday as the greenback strengthened on improved Chinese trade data. The People's Bank of China (PBoC) set the yuan at 6.4891 to
Published 17 Apr, 2016 12:00am
CEE currencies seen facing shaky months before gains

CEE currencies seen facing shaky months before gains

The zloty and the forint may face a shaky next few months due to policy risks in Poland and monetary easing in Hungary, a Reuters poll of 44 analysts showed on Thursday. In the next 12 months, however, Central Europe's expanding and stable economies could
Published 17 Apr, 2016 12:00am
Bullish Asia FX bets dip, but investors optimistic on yuan
Exchange

Bullish Asia FX bets dip, but investors optimistic on yuan

Bullish bets on most emerging Asian currencies eased in the last two weeks as the dollar's rebound spurred profit-taking, but sentiment stayed optimistic supported by loose global monetary policies, a Reuters poll showed. The Chinese yuan's long positions
Published 17 Apr, 2016 12:00am
Villa relegated as Rashford strikes again

Villa relegated as Rashford strikes again

Aston Villa's long-expected relegation from the Premier League was finally confirmed with a 1-0 loss away to Manchester United on Saturday as teenage rising star Marcus Rashford scored his seventh goal in 12 games. The 18-year-old striker, also on target
Published 17 Apr, 2016 12:00am
Benzema bounces back from France snub in Madrid rout

Benzema bounces back from France snub in Madrid rout

Karim Benzema overcame the disappointment of being left out of France's Euro 2016 squad with a goal and two assists as Real Madrid moved to within a point of La Liga leaders Barcelona with a 5-1 thrashing of Getafe on Saturday. Madrid boss Zinedine Zidane
Published 17 Apr, 2016 12:00am
Taiwan secures Olympic table tennis spot

Taiwan secures Olympic table tennis spot

Taiwan earned a spot at the Rio Games Saturday, after Chen Chien-An won a hard-fought match at the Olympics table tennis qualifiers in Hong Kong. Six men's and women's singles winners qualified for the Rio Games at the second stage of the Asian qualifying
Published 17 Apr, 2016 12:00am
Nadal sinks Murray to reach final with Monfils

Nadal sinks Murray to reach final with Monfils

Rafa Nadal continued his resurgence with a thrilling 2-6 6-4 6-2 victory over world number two Andy Murray on Saturday to set up a Monte Carlo Masters final against Gael Monfils. Eight-times champion Nadal has struggled since losing the 2013 final to Nova
Published 17 Apr, 2016 12:00am
PAF win Inter-Services Golf Championship

PAF win Inter-Services Golf Championship

The spirited team of Pakistan Air Force clinched the trophy of Inter-Services Golf Championship after 25-years by scoring 1139 over 72 holes here at PAF Golf Course on Saturday. The start-studded PAF team succeeded in toppling both Pakistan Army and Pakis
Published 17 Apr, 2016 12:00am
Pakistan Cup set to start in Faisalabad from April 19

Pakistan Cup set to start in Faisalabad from April 19

The much-awaited Cool & Cool-Haier Pakistan Cup 2016 is starting in Faisalabad from Tuesday (April 19) with a mouth-watering clash between Brighto Paints Balochistan and Cookania Cake Rusk Punjab. The tournament is a part of Pakistan Cricket Board (PCB)'s
Published 17 Apr, 2016 12:00am
Peshawar, Nowshera win squash, athletic trophies in KP Games

Peshawar, Nowshera win squash, athletic trophies in KP Games

Peshawar clinched the trophy of the female squash after defeating Nowshera in the final while District Nowshera bagged athletic trophy after securing 37 points in the Khyber Pakhtunkhwa U-23 Female Games being played at BISE Sports Complex Saturday. Direc
Published 17 Apr, 2016 12:00am
Strycova gets Czech holders off mark, Dutch lead France in Fed Cup

Strycova gets Czech holders off mark, Dutch lead France in Fed Cup

Barbora Strycova got holders the Czech Republic off to a winning 1-0 start in the Fed Cup semi-final on Saturday as the Netherlands lead France by the same scoreline. In Lucerne, Strycova needed just 65 minutes to demolish world number 17 Timea Bacsinszky
Published 17 Apr, 2016 12:00am
Halep levels for Romania against Germany
Kerb

Halep levels for Romania against Germany

Simona Halep dug deep to seal her win over Andrea Petkovic to tie Romania's Fed Cup World Group play-off against Germany at 1-1 on Saturday. Romania's Halep, ranked sixth in the world, needed just under three hours to secure her 6-4, 6-7 (5/7), 6-4 win af
Published 17 Apr, 2016 12:00am
US power to 2-0 Fed Cup lead over Australia

US power to 2-0 Fed Cup lead over Australia

Christina McHale and Madison Keys won the opening singles rubbers to give the United States a commanding 2-0 lead in their Fed Cup World Group play-off tie against Australia on Saturday. After Keys beat Daria Gavrilova 6-4, 6-2 in the opening tie, McHale
Published 17 Apr, 2016 12:00am
Australia thrash India to clinch Sultan Azlan Shah Cup

Australia thrash India to clinch Sultan Azlan Shah Cup

Reigning world champions Australia clobbered India 4-0 to clinch the Sultan Azlan Shah Cup on Saturday, as the powerhouse eyes the top-spot on the podium at the Rio Games this summer. The Kookaburras kicked off the final against seventh-ranked India with
Published 17 Apr, 2016 12:00am
Violence erupts at protests over French labour reforms

Violence erupts at protests over French labour reforms

Twenty-two people were arrested in Paris during clashes with police at a demonstration over labour reforms seen as threatening workers' rights, French police said Saturday. Some 3,000 people late Friday gathered in the Place de la Republique for another o
Published 17 Apr, 2016 12:00am
Zuma bids to win back ANC support in Mandela Bay

Zuma bids to win back ANC support in Mandela Bay

South African President Jacob Zuma, facing pressure to resign from within his African National Congress, sought to win back support with the launch on Saturday of the party's manifesto in Port Elizabeth, where it risks losing an important local poll. Losi
Published 17 Apr, 2016 12:00am
European parliament drivers had IS propaganda

European parliament drivers had IS propaganda

Two drivers for a private company serving the European parliament have been found carrying compact discs containing propaganda for Islamic State militants, Germany's Der Spiegel magazine reported on Saturday. Citing several unnamed sources, Der Spiegel sa
Published 17 Apr, 2016 12:00am
Belgian minister says many Muslims 'danced' after attacks

Belgian minister says many Muslims 'danced' after attacks

Belgian Interior Minister Jan Jambon said Saturday that a "significant" part of the Muslim population celebrated attacks, blaming the country's policies for failing to integrate migrants into society. He did not explicitly refer to last month's jihadist a
Published 17 Apr, 2016 12:00am
Iran and Turkey vow to cooperate on terrorism and trade

Iran and Turkey vow to cooperate on terrorism and trade

Iranian President Hassan Rouhani and Turkish counterpart Recep Tayyip Erdogan vowed to boost trade between their two countries at talks Saturday following the lifting of most international sanctions on Tehran. They also agreed to cooperate in the fight ag
Published 17 Apr, 2016 12:00am
116 migrants rescued from Mediterranean, 3 with bullet wounds: NGO

116 migrants rescued from Mediterranean, 3 with bullet wounds: NGO

A total of 116 migrants were plucked to safety from the Mediterranean on Saturday, three of whom had week-old bullet wounds, rescuers said. Rescuers found 20 women and a child amongst the men and teenage boys on board, three of whom "presented with gun wo
Published 17 Apr, 2016 12:00am
Storms leave three million without water in Santiago

Storms leave three million without water in Santiago

Three million people in the Chilean capital were without drinking water on Saturday after heavy rain caused landslides that fouled the rivers supplying the city, officials said. The national emergency response agency declared a red alert in Santiago, a ci
Published 17 Apr, 2016 12:00am
Experimental inflatable module attached to space station

Experimental inflatable module attached to space station

A NASA ground-control team on Saturday used a robot arm to unpack an expandable module and attach it to the International Space Station, setting the stage for a novel test of a habitat for astronauts, researchers and even tourists. The 3,100-pound (1,400
Published 17 Apr, 2016 12:00am
French, German FMs in Libya to back unity government

French, German FMs in Libya to back unity government

The foreign ministers of France and Germany made an unannounced visit Saturday to Tripoli in a show of support for the new unity government striving to bridge Libya's deep political divisions. World powers see the Government of National Accord (GNA) as a
Published 17 Apr, 2016 12:00am
Syria opposition rejects UN proposal for Assad to stay
Exchange

Syria opposition rejects UN proposal for Assad to stay

Syria's opposition has rejected a proposal from the UN envoy that would have kept Bashar al-Assad as president during a political transition, with three deputies of his opponents' choosing. UN envoy Staffan de Mistura told Syria's opposition attending pea
Published 17 Apr, 2016 12:00am
German comic in Erdogan satire row suspends TV show

German comic in Erdogan satire row suspends TV show

A German comedian whose satirical poem about Turkish President Recep Tayyip Erdogan has unleashed a bitter row about freedom of speech has decided to suspend his own TV show, he announced on his Facebook page Saturday. Chancellor Angela Merkel on Friday a
Published 17 Apr, 2016 12:00am
Political uncertainty may reverse economic growth: PIAF

Political uncertainty may reverse economic growth: PIAF

Pakistan Industrial and Traders Associations Front (PIAF) chairman Irfan Iqbal Sheikh on Saturday said that politics of agitation and sit-ins will push the national economy to the wall; therefore, all the political parties must show maturity and make effo
Published 17 Apr, 2016 12:00am
KPITB, World Bank, PTA host demo-day for KP Apps Challenge

KPITB, World Bank, PTA host demo-day for KP Apps Challenge

The Khyber Pakhtunkhwa IT Board (KPITB), Tech Valley Abbottabad, Code for Pakistan, the World Bank and the Pakistan Telecommunications Authority hosted a "Demo Day" for the KP Apps Challenge at local hotel on Saturday. Youngsters from all over Pakistan we
Published 17 Apr, 2016 12:00am
Politicians meet Shahbaz

Politicians meet Shahbaz

Member National Assembly Ejaz-ul-Haq met Punjab Chief Minister Muhammad Shahbaz Sharif. Speaking on the occasion, the Chief Minister said that collective efforts are needed for progress and development of the country. He said that Pakistan Muslim League-N
Published 17 Apr, 2016 12:00am
Two RAW agents arrested from Karachi

Two RAW agents arrested from Karachi

Two agents working for India's Research and Analysis Wing (RAW) were arrested by Counter-Terrorism Department (CTD) from Karachi on Saturday. According to SSP Khawaja Naveed, the two arrested RAW agents were trying to sabotage the completion of China Paki
Published 17 Apr, 2016 12:00am
NPOs and NGOs: SECP revises criteria for renewal of licences
Exchange

NPOs and NGOs: SECP revises criteria for renewal of licences

The Securities and Exchange Commission of Pakistan (SECP) has revised criteria for renewal of licenses to NPOs/NGOs under Section 42 of the Companies Ordinance. According to a circular issued by the SECP, the Securities and Exchange Commission of Pakistan
Published 17 Apr, 2016 12:00am
MIB, Inov8 sign agreement

MIB, Inov8 sign agreement

MCB Islamic Bank Limited (MIB) and Inov8 Limited, the region's fastest growing digital payments company, have signed an agreement by which the Bank will be using Inov8's next generation FalconPay Ecosystem. This will allow MIB to offer next generation mob
Published 17 Apr, 2016 12:00am
Sarwar demands action against Chhotu gang

Sarwar demands action against Chhotu gang

Former Punjab Governor and Pakistan Tehreek-i-Insaf Punjab president candidate Chaudhry Mohammad Sarwar has demanded a strict action against the "Chhottu and Barroo" corruption gang in Punjab. He said the PML-N should choose between running a government a
Published 17 Apr, 2016 12:00am
UoS chief proctor suspended over controversial notification

UoS chief proctor suspended over controversial notification

The University of Swat (UoS) on Saturday suspended its chief proctor Hazrat Bilal for ordering male and female students not to mingle on and off the campus. A notice issued by the Chief Proctor of University of Swat on Friday barred the university's male
Published 17 Apr, 2016 12:00am
Rehman Malik leaves for London to meet Zardari

Rehman Malik leaves for London to meet Zardari

Former Interior Minister Rehman Malik on Saturday left for London to meet former president and co-chairman of Pakistan Peoples' Party (PPP) Asif Ali Zardari to discuss Panama leaks. Before departing for London, Rehman Malik sent a letter to Interpol's gen
Published 17 Apr, 2016 12:00am
Budget proposals: government urged to cut GST rate to 15 percent

Budget proposals: government urged to cut GST rate to 15 percent

A F Ferguson & Co, member firm of PricewaterhouseCoopers network, has proposed to the Federal Board of Revenue (FBR) to reduce sales tax rate from 17 to 15 percent, incentives for compliant taxpayers, promote electronic invoicing to check corruption in sa
Published 17 Apr, 2016 12:00am
Shahbaz reviews progress on ongoing projects

Shahbaz reviews progress on ongoing projects

Punjab Chief Minister Muhammad Shahbaz Sharif presided over a high level meeting, here Saturday which reviewed the pace of progress on ongoing projects in the province. Addressing the meeting, the Chief Minister said that besides maintaining standard and
Published 17 Apr, 2016 12:00am
QWP-sponsored APC seeks fresh population census

QWP-sponsored APC seeks fresh population census

All-Parties Conference (APC) sponsored by Qaumi Watan Party (QWP) asked federal government to conduct fresh population census without any further delay as progress and development of the country directly associated with it.
Published 17 Apr, 2016 12:00am
Prices of most essential kitchen items remain stable

Prices of most essential kitchen items remain stable

The prices of most essential kitchen items remained stable in past week compared to preceding week, found a survey conducted by Business Recorder on Saturday. The survey observed that the price of live chicken in the wholesale market remained stable at Rs
Published 17 Apr, 2016 12:00am
Qureshi hopes to meet Bilawal

Qureshi hopes to meet Bilawal

Pakistan Tehreek-e-Insaf (PTI) leader Shah Mehmood Qureshi stated on Saturday that a meeting with Pakistan Peoples' Party (PPP) Chairman Bilawal Bhutto Zardari in regards to the Panama Leaks investigation is a possibility. Qureshi stated that it is the re
Published 17 Apr, 2016 12:00am
China condemns drone attacks in Pakistan

China condemns drone attacks in Pakistan

China in its report on the United States human rights record also touched drone attacks in Pakistan and termed it violation of the basic norms. The reports said, the United States still brazenly and brutally violated human rights in other countries, treat
Published 17 Apr, 2016 12:00am
Gusty weather in Sindh, Balochistan forecast

Gusty weather in Sindh, Balochistan forecast

The Met Office on Saturday predicted gusty winds in the next 24 hours that might raise dust to the skies while blowing across Sindh and Balochistan. In most parts of the country, it said, hot and dry weather was expected to prevail during the next 24 hour
Published 17 Apr, 2016 12:00am
Bilawal for early finalization of party candidates for AKJ elections

Bilawal for early finalization of party candidates for AKJ elections

A number of PPP AJK leaders today called on Chairman Pakistan People's Party Bilawal Bhutto Zardari in Zardari House in Islamabad Saturday to welcome him on his visit to the federal capital. Those who called on him included former Prime Minister Raja Perv
Published 17 Apr, 2016 12:00am
PTI allowed to hold rally at F-9 Park on April 24

PTI allowed to hold rally at F-9 Park on April 24

The government on Saturday allowed Pakistan Tehreek-e-Insaf (PTI) to hold a rally at F-9 Park on its foundation day on April 24. An official source said the Interior Ministry has granted conditional permission to PTI for holding a rally at F-9 Park on the
Published 17 Apr, 2016 12:00am
PML-N leader urges PTI-led KP government to step down over 'corruption'

PML-N leader urges PTI-led KP government to step down over 'corruption'

Advisor to Prime Minister, and Pakistan Muslim League-Nawaz (PML-N) Central Senior Vice President, Engr Amir Muqam has asked the provincial government, to tender resignation over the corruption and looting provincial exchequer, unearthed in a government-r
Published 17 Apr, 2016 12:00am
President vows to continue NAP till elimination of last terrorist

President vows to continue NAP till elimination of last terrorist

President Mamnoon Hussain on Saturday said the National Action Plan (NAP) would continue till elimination of the last terrorist to ensure peace, not only within the country but also in the region. Addressing the 134th Long Course Passing Out parade here a
Published 17 Apr, 2016 12:00am
Two banned outfit terrorists among 11 criminals arrested

Two banned outfit terrorists among 11 criminals arrested

The law enforcement agencies (LEAs) arrested 11 criminals including two terrorist suspects of banned outfits during crackdowns across the metropolis city of Karachi on Saturday and recovered huge quantity of arms from their possession. The police during a
Published 17 Apr, 2016 12:00am
USAID organises Halal Food Conference

USAID organises Halal Food Conference

The United States Agency for International Development (USAID) hosted a dinner to showcase Pakistan as a regional and global hub for quality Halal meat and vegetables. The event, attended by participants in the fifth-annual International Halal Conference
Published 17 Apr, 2016 12:00am
School principal suspended for facilitating use of unfair means in exams

School principal suspended for facilitating use of unfair means in exams

Muhammad Azhar, Principal of Shah Lateef Boys Secondary School of Pakistan Steel Mills - who was assigned the duties as Superintendant at the same school for the on-going ninth and tenth classes board examinations - on Saturday was suspended from his post
Published 17 Apr, 2016 12:00am
Another 28 stranded Pakistanis arrive from China

Another 28 stranded Pakistanis arrive from China

Another 28 Pakistanis stranded in China due to land-sliding have reached the federal capital Saturday. At least 45 Pakistan nationals were stranded in Chinese Tashekuergan after Shahrah-e-Karakoram was blocked at different points due to land-sliding. Thir
Published 17 Apr, 2016 12:00am
FPCCI asks Iranian companies to tap hydropower sector

FPCCI asks Iranian companies to tap hydropower sector

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Vice President, Riaz Khattak has called for further strengthening bilateral trade relations between Pakistan and Islamic Republic of Iran. Talking to Mostafa Razavi Zadeh, Commercial Counsel
Published 17 Apr, 2016 12:00am
PCAA commences water management plan at Karachi airport

PCAA commences water management plan at Karachi airport

Pakistan Civil Aviation Authority (PCAA) has commenced water management plan at Karachi airport to ensure uninterrupted water supply to the passengers, following inadequate water supply by Karachi Water and Sewerage Board (KWSB). According to details, Kar
Published 17 Apr, 2016 12:00am
KP government approves 4 economic zones

KP government approves 4 economic zones

Khyber Pakhtunkhwa government has approved the four economic zones to acquire the status of Special Economic Zones (SEZs). The approval was given during the maiden meeting of the Special Economic Zones Authority (SEZA) of Khyber Pakhtunkhwa, held at the C
Published 17 Apr, 2016 12:00am
Lyari gang wars: Uzair's aide reveals he enjoyed political patronage

Lyari gang wars: Uzair's aide reveals he enjoyed political patronage

Commander of one of Lyari's gangs, Uzair Baloch's close aide Nouman Siddique who under custody of police during investigation on Saturday revealed political patronage behind gang wars. The accused Nouman Siddique was arrested in Garden area during interro
Published 17 Apr, 2016 12:00am
KP chief minister orders inquiry into BoK advertisement

KP chief minister orders inquiry into BoK advertisement

KP Chief Minister Pervez Khattak has termed the advertisement from the Bank of Khyber (BoK) as improper and excess of limits and ordered inquiry into the matter. In a statement issued here on Saturday, the CM said the advertisement was not merely condemna
Published 17 Apr, 2016 12:00am
Rulers trying to hide behind commissions: JI chief

Rulers trying to hide behind commissions: JI chief

Chief of Jamaat-e-Islami, Pakistan, Senator Sirajul Haq, has said that whenever the rulers were under pressure, they tried to hide themselves behind any self made Commission but none of the commissions in the past had disclosed the truth to the nation.
Published 17 Apr, 2016 12:00am
Long-term water resource planning critical to safeguarding communities

Long-term water resource planning critical to safeguarding communities

Governments alone cannot manage the preservation and distribution of water sources in today's world, because it requires funding, skilled manpower, know-how and participation of community to deal with the challenges. In Pakistan, Inter-Cooperation with th
Published 17 Apr, 2016 12:00am
Korean envoy to be chief guest at MCCI Painting show

Korean envoy to be chief guest at MCCI Painting show

Ambassador of Korea in Islamabad, Dr Song Jong-hwan will be chief guest at Painting Exhibition-2016 at Multan Chamber of Commerce and industry (MCCI) on April 18. The Korean Envoy has been invited by Artist's Association of Punjab (AAP) while President of
Published 17 Apr, 2016 12:00am
Incidents of various crimes register sharp increase

Incidents of various crimes register sharp increase

Incidents of different crimes witnessed a sharp increase in the city during the last week belying the tall claims of police high ups that they have placed strict security arrangements in the federal capital. According to data gathered by Business Recorder
Published 17 Apr, 2016 12:00am
Independent Sindh police recruitment board to be set up

Independent Sindh police recruitment board to be set up

Sindh Inspector General (IG), Allah Dino Khawaja has decided to establish an independent 'Sindh Police Recruitment Board' for future recruitments in the department under a uniform recruitment policy ensuring good Governance, transparency and merit. The 'S
Published 17 Apr, 2016 12:00am
Farooq Sattar too could face media blackout

Farooq Sattar too could face media blackout

Anti-terrorism court (ATC) on Saturday warned Muttahida Qaumi Movement (MQM) leader Dr Farooq Sattar of media blackout and reissued non-bailable arrest warrant against chief Altaf Hussain and others in provocative speech case. The court heard a case perta
Published 17 Apr, 2016 12:00am
Strategies to prevent hepatitis B & C discussed

Strategies to prevent hepatitis B & C discussed

A joint meeting of Pakistan Kidney, Liver Institute and Research Centre (PKLI & RC) and the officials of the Punjab government, which met with advisor to Chief Minister Punjab on Health Khawaja Salman Rafique in the chair, discussed the strategies of prev
Published 17 Apr, 2016 12:00am
CME adjusts Black Sea wheat market as Euronext threat looms
Exchange

CME adjusts Black Sea wheat market as Euronext threat looms

CME Group Inc will list three new contract months in its Black Sea wheat futures market and eliminate a delivery location as the US exchange operator faces a potential challenge from European rival Euronext NV. Chicago-based CME Group on April 27 will lis
Published 17 Apr, 2016 12:00am
Vietnam drought to cut coffee output in key growing province

Vietnam drought to cut coffee output in key growing province

Drought could cut coffee production in Vietnam's top growing province of Daklak by around a third in 2016/17 to its lowest in a decade, a local government official said on Thursday. Lower output in the world's top producer of robusta beans, along with tig
Published 17 Apr, 2016 12:00am
India's wheat imports to hit decade high as weather woes curb output

India's wheat imports to hit decade high as weather woes curb output

India's 2016/17 wheat imports are expected to surge more than five-fold to the highest in a decade, as a severe drought linked to an El Nino weather event and unseasonal rains push domestic output down to the lowest since 2011, a Reuters survey shows. A s
Published 17 Apr, 2016 12:00am
Drought could hit rice stocks at exporters, fuel price crisis

Drought could hit rice stocks at exporters, fuel price crisis

Crippling drought brought on by the El Nino weather pattern could cut rice stocks among the world's top exporters to levels not seen since 2008, potentially fuelling a price crisis similar to one seen that year, an industry expert warned. Total stocks in
Published 17 Apr, 2016 12:00am
Rains ruin at least five percent of Argentina soya crop
Exchange

Rains ruin at least five percent of Argentina soya crop

Heavy downpours have ruined the harvest of nearly 5 percent of Argentina's soyabean farms and could damage even more of the 2015-16 crop if rains extend into next week as expected. Grain experts still forecast a strong harvest once the rains let up, howev
Published 17 Apr, 2016 12:00am
Dubai commodities exchange ties up with Chinese banks
Exchange

Dubai commodities exchange ties up with Chinese banks

The Dubai Gold & Commodities Exchange (DGCX) said it had agreed to collaborate more closely with two of China's biggest banks in a move that could pave the way for transactions to be cleared in the yuan and attract more interest from Chinese investors. Th
Published 17 Apr, 2016 12:00am
Cotton posts biggest loss in a month as index buying cools
Cotton

Cotton posts biggest loss in a month as index buying cools

Cotton futures fell on Friday, registering the biggest loss in nearly a month as index buying waned after sharp gains in recent days even as traders took stock of China's plans to auction its massive reserves of the natural fibre. "Thursday's poor export
Published 17 Apr, 2016 12:00am
Building dryness threatens Brazil's record corn crop

Building dryness threatens Brazil's record corn crop

Forecasts for a record winter corn crop in Brazil look overly optimistic after summer rains ended sooner than expected, which could prolong the country's recently aggressive imports of the grain and even trim the area planted to soybeans in September.
Published 17 Apr, 2016 12:00am
Jordan could change wheat import rules as it struggles to buy

Jordan could change wheat import rules as it struggles to buy

Jordan, a major Middle East grain importer, could change its wheat import purchasing terms after struggling to buy in recent months, a government source told Reuters on Wednesday. "There are specialised committees that are studying the specifications and
Published 17 Apr, 2016 12:00am
Iran to modestly boost oil supply, delaying market rebalance

Iran to modestly boost oil supply, delaying market rebalance

Iran's oil production will rise only modestly this year and next, but it will be enough to stop global crude supply and demand from rebalancing in 2016, according to a Reuters poll of oil analysts' forecasts. The world's biggest oil producers from both wi
Published 17 Apr, 2016 12:00am
Nigeria targets sale of 40 percent of new state oil firm

Nigeria targets sale of 40 percent of new state oil firm

Nigeria plans to split state oil company NNPC into two to help ease a planned stake sale and wants to sell at least 40 percent of a newly created National Petroleum Co (NPC) in coming years, according to a draft of a long-awaited oil bill seen by Reuters.
Published 17 Apr, 2016 12:00am
China copper imports hit record in March, up 30 percent in Q1
Exchange

China copper imports hit record in March, up 30 percent in Q1

China's copper arrivals hit a record in March, pushing up total imports 30.1 percent in the first quarter from last year, after price differentials between domestic and international markets favoured imports in previous months. Arrivals of anode, refined
Published 17 Apr, 2016 12:00am
Accounting education under SECP fold

Accounting education under SECP fold

Proposal for entrusting accounting education to SECP is already in the air. It may take some time before the government rules on the subject. The law, to be framed, would take its course and that too if it does. However, I propose incorporation of a provi
Published 17 Apr, 2016 12:00am
In Venezuela, no toilet paper and now lousy phone service
Exchange

In Venezuela, no toilet paper and now lousy phone service

Things in Venezuela keep finding ways to get worse. Because of acute shortages, people can't find basics like toilet paper. Now, it will be harder to make overseas calls or watch pay TV. The problem is this: the global drop in oil prices has made dollars
Published 17 Apr, 2016 12:00am
Brazil's impeachment problem: the accusers are also accused

Brazil's impeachment problem: the accusers are also accused

One by one, Brazilian lawmakers rise on national television, faces red with indignation, voices shaking, to demand impeachment of President Dilma Rousseff. The problem with this righteous scene playing out in Brazil throughout this weekend? An astonishing
Published 17 Apr, 2016 12:00am
Let's do something good

Let's do something good

I think that under-invoicing, smuggling and undue delay in refund claims are the main reasons behind the fast widening trade deficit that has now escalated to more than 15 billion USD and has increased by 4.2% as compared to the past financial year. The c
Published 17 Apr, 2016 12:00am
Kerry at Hiroshima

Kerry at Hiroshima

As if with Obama Administration now is a season of doing penance for something inhumane done in the past? President Obama is repentant over the 'worst mistake' he made in his eight-year rules was that he did not plan for the aftermath of the 2011 toppling
Published 17 Apr, 2016 12:00am
Boisterous aftermath of the Panama leaks

Boisterous aftermath of the Panama leaks

How to go about the Panama leaks now that they are in the public domain, particularly in the context of the ruling family's supposed involvement, there is an intense debate in both media and elected houses. There is a huge variety of opinion, some of it e
Published 17 Apr, 2016 12:00am
CPEC's first phase to get completed by 2018: Ahsan

CPEC's first phase to get completed by 2018: Ahsan

Federal Minister Planning, Development and Reform Ahsan Iqbal said on Saturday that the first phase of China-Pakistan Economic Corridor (CPEC) would be completed by the year 2018. The production of 10,000 MGW of energy under CPEC would help overcome the e
Published 17 Apr, 2016 12:00am
Ministers 'confused' regarding PM's return from UK

Ministers 'confused' regarding PM's return from UK

Federal Ministers when asked regarding the return of the Prime Minister Nawaz Sharif after getting done with his medical examination in the United Kingdom have issued diverging statements. Federal Minister of Information Pervaiz Rasheed stated that the PM
Published 17 Apr, 2016 12:00am
Government finalizes ToRs for Inquiry Commission

Government finalizes ToRs for Inquiry Commission

A high-level meeting chaired by Finance Minister Ishaq Dar in Islamabad on Saturday finalised Terms of Reference of the Inquiry Commission to investigate the Panama leaks being set up in pursuance of Prime Minister Nawaz Sharif's announcement. The meeting
Published 17 Apr, 2016 12:00am
Government finalizes ToRs for Inquiry Commission

Government finalizes ToRs for Inquiry Commission

A high-level meeting chaired by Finance Minister Ishaq Dar in Islamabad on Saturday finalised Terms of Reference of the Inquiry Commission to investigate the Panama leaks being set up in pursuance of Prime Minister Nawaz Sharif's announcement. The meeting
Published 17 Apr, 2016 12:00am
Ministry rebuffs claims of Dar-Panama Deputy Minister meeting

Ministry rebuffs claims of Dar-Panama Deputy Minister meeting

The spokesman of the Ministry of Finance has rebuffed the media reports regarding claims of a meeting of Deputy Minister of Economy, of Panama, Ivan Zarak with Minister for Finance Ishaq Dar in Washington. The Finance Ministry spokesperson said that claim
Published 17 Apr, 2016 12:00am
Ministry rebuffs claims of Dar-Panama Deputy Minister meeting

Ministry rebuffs claims of Dar-Panama Deputy Minister meeting

The spokesman of the Ministry of Finance has rebuffed the media reports regarding claims of a meeting of Deputy Minister of Economy, of Panama, Ivan Zarak with Minister for Finance Ishaq Dar in Washington. The Finance Ministry spokesperson said that claim
Published 17 Apr, 2016 12:00am
ECC tells ministry to set up LPG air mix plants in hilly areas

ECC tells ministry to set up LPG air mix plants in hilly areas

The Economic Co-ordination Committee (ECC) of the Cabinet has directed the Ministry of Petroleum and Natural Resources (MoP&NR) to set up LPG air mix plants in the hilly areas as per the policy approved by the Council of Common Interests (CCI), well-infor
Published 17 Apr, 2016 12:00am
ECC tells ministry to set up LPG air mix plants in hilly areas

ECC tells ministry to set up LPG air mix plants in hilly areas

The Economic Co-ordination Committee (ECC) of the Cabinet has directed the Ministry of Petroleum and Natural Resources (MoP&NR) to set up LPG air mix plants in the hilly areas as per the policy approved by the Council of Common Interests (CCI), well-infor
Published 17 Apr, 2016 12:00am
ECC tells ministry to set up LPG air mix plants in hilly areas

ECC tells ministry to set up LPG air mix plants in hilly areas

The Economic Co-ordination Committee (ECC) of the Cabinet has directed the Ministry of Petroleum and Natural Resources (MoP&NR) to set up LPG air mix plants in the hilly areas as per the policy approved by the Council of Common Interests (CCI), well-infor
Published 17 Apr, 2016 12:00am
US to crack down on anonymous shell companies

US to crack down on anonymous shell companies

The United States plans to begin forcing the disclosure of shell company owners'' identities to combat tax avoidance and other illicit activities, Treasury Secretary Jack Lew said Saturday. With the fallout of the "Panama Papers" leak still echoing throug
Published 17 Apr, 2016 12:00am
US to crack down on anonymous shell companies

US to crack down on anonymous shell companies

The United States plans to begin forcing the disclosure of shell company owners' identities to combat tax avoidance and other illicit activities, Treasury Secretary Jack Lew said Saturday. With the fallout of the "Panama Papers" leak still echoing through
Published 17 Apr, 2016 12:00am
US to crack down on anonymous shell companies

US to crack down on anonymous shell companies

The United States plans to begin forcing the disclosure of shell company owners' identities to combat tax avoidance and other illicit activities, Treasury Secretary Jack Lew said Saturday. With the fallout of the "Panama Papers" leak still echoing through
Published 17 Apr, 2016 12:00am
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