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May 18, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2017-05-19
Cotton market gains stability
Cotton

Cotton market gains stability

Some earlier gains in the price of international cotton and diminishing stocks from the current crop (August 2016/July 2017) in the domestic market to only about 160,000 unsold bales (155 Kgs) have been instrumental in increasing value of cotton and impar
Published 19 May, 2017 12:00am
Cotton market gains stability
Cotton

Cotton market gains stability

Some earlier gains in the price of international cotton and diminishing stocks from the current crop (August 2016/July 2017) in the domestic market to only about 160,000 unsold bales (155 Kgs) have been instrumental in increasing value of cotton and impar
Published 19 May, 2017 12:00am
Irish finance minister to step down

Irish finance minister to step down

Irish Finance Minister Michael Noonan said on Thursday he will step down when a replacement for Prime Minister Enda Kenny is chosen next month, having presided for six years over the dramatic recovery of the Irish economy and banking system. The announcem
Published 19 May, 2017 12:00am
Foreigners buy C$15.1 billion in Canadian securities in March

Foreigners buy C$15.1 billion in Canadian securities in March

Foreign investment in Canadian securities continued in March, driven by purchases of corporate bonds and equities, and bringing acquisitions in the first quarter to a record, data from Statistics Canada showed on Thursday. International investors bought C
Published 19 May, 2017 12:00am
Philippine Q1 GDP growth weakest in a year, but rate rise on cards

Philippine Q1 GDP growth weakest in a year, but rate rise on cards

The Philippine economy grew at its slowest pace in more than a year in the first quarter on weaker government spending, but strong exports and domestic consumption suggest the Southeast Asian country remains poised to raise rates this year. It was the slo
Published 19 May, 2017 12:00am
Ralph Lauren's comparable sales fall for ninth straight quarter

Ralph Lauren's comparable sales fall for ninth straight quarter

Ralph Lauren Corp reported its ninth straight fall in quarterly sales at established stores as fewer customers visited its stores, sending the company's shares down 3 percent to levels last seen during the financial recession. The company also said it exp
Published 19 May, 2017 12:00am
Ralph Lauren's comparable sales fall for ninth straight quarter

Ralph Lauren's comparable sales fall for ninth straight quarter

Ralph Lauren Corp reported its ninth straight fall in quarterly sales at established stores as fewer customers visited its stores, sending the company's shares down 3 percent to levels last seen during the financial recession. The company also said it exp
Published 19 May, 2017 12:00am
Suedzucker optimistic as free EU sugar market to start

Suedzucker optimistic as free EU sugar market to start

Germany's Suedzucker, Europe's largest sugar refiner, said on Thursday it was optimistic its core sugar sector would achieve higher earnings as the EU enters a new era with a liberalised sugar market. Suedzucker CEO Wolfgang Heer told a news conference he
Published 19 May, 2017 12:00am
IMF raises South Africa's growth forecast for 2017 to one percent

IMF raises South Africa's growth forecast for 2017 to one percent

The International Monetary Fund has raised South Africa's growth forecast for this year after recoveries in the agriculture and mining sectors, but perceptions of policy uncertainty pose a downside risk, a senior official said on Thursday. The IMF expects
Published 19 May, 2017 12:00am
Singapore Airlines annual operating profit drops

Singapore Airlines annual operating profit drops

Singapore Airlines Ltd (SIA) on Thursday reported a nearly 9 percent drop in its operating profit for the year ended March, as weakness in its main passenger travel operation offset a stronger cargo business. Profit reached S$623 million ($447.65 million)
Published 19 May, 2017 12:00am
Singapore Airlines annual operating profit drops

Singapore Airlines annual operating profit drops

Singapore Airlines Ltd (SIA) on Thursday reported a nearly 9 percent drop in its operating profit for the year ended March, as weakness in its main passenger travel operation offset a stronger cargo business. Profit reached S$623 million ($447.65 million)
Published 19 May, 2017 12:00am
Prudential posts Q1 new-business profit rise, reshuffles management

Prudential posts Q1 new-business profit rise, reshuffles management

British insurer Prudential reported a 25 percent rise in first-quarter new-business profits on Thursday, driven by a strong performance in Asia, and announced the appointment of a new chief financial officer in a management reshuffle. The company said in
Published 19 May, 2017 12:00am
Prudential posts Q1 new-business profit rise, reshuffles management

Prudential posts Q1 new-business profit rise, reshuffles management

British insurer Prudential reported a 25 percent rise in first-quarter new-business profits on Thursday, driven by a strong performance in Asia, and announced the appointment of a new chief financial officer in a management reshuffle. The company said in
Published 19 May, 2017 12:00am
Royal Mail's annul profit falls

Royal Mail's annul profit falls

Royal Mail's annual profit fell by less than expected as tighter cost controls and growth in its European delivery and UK parcel businesses helped offset a continued decline in letters. After years of underinvestment, Royal Mail was privatised in 2013 and
Published 19 May, 2017 12:00am
Royal Mail's annul profit falls

Royal Mail's annul profit falls

Royal Mail's annual profit fell by less than expected as tighter cost controls and growth in its European delivery and UK parcel businesses helped offset a continued decline in letters. After years of underinvestment, Royal Mail was privatised in 2013 and
Published 19 May, 2017 12:00am
Australia jobless rate dips

Australia jobless rate dips

Australia's jobless rate fell to its lowest in four months in April but the number of people with full-time work declined - a mixed report that augurs poorly for a much-needed revival in wage growth and inflation. The unemployment rate slipped to 5.7 perc
Published 19 May, 2017 12:00am
Britain sees record visitor numbers on Brexit-hit pound

Britain sees record visitor numbers on Brexit-hit pound

Britain welcomed a record number of foreign visitors last year as the Brexit-hit pound boosted their purchasing power, official data showed Thursday. Some 37.6 million travellers flocked to the country in 2016, up four percent from the previous year, the
Published 19 May, 2017 12:00am
Foreign direct investment slips

Foreign direct investment slips

Foreign direct investment into China fell 0.1 percent to 286.41 billion yuan ($41.6 billion) in the first four months of 2017 from the same period a year earlier, the Ministry of Commerce said on Thursday. Foreign investment into China slowed in April, fa
Published 19 May, 2017 12:00am
Smaller cities keep China home property market hot in April

Smaller cities keep China home property market hot in April

Home prices in Beijing and some major Chinese cities softened in April due to ongoing curbs to cool China's red-hot property market, but average prices nationwide saw their largest increase in six months, helped by purchases in smaller cities. New home pr
Published 19 May, 2017 12:00am
Wal-Mart's online sales, customer visits rise; shares hit 52-week high

Wal-Mart's online sales, customer visits rise; shares hit 52-week high

Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established US stores, as a huge investment to bring more customers into the discount retailer paid off and a bigger push into e-commerce boosted online purchases, sending it
Published 19 May, 2017 12:00am
Trump administration launches NAFTA renegotiation process

Trump administration launches NAFTA renegotiation process

US President Donald Trump's administration formally notified Congress on Wednesday of its intent to renegotiate the three-nation North American Free Trade Agreement. The talks with Canada and Mexico will begin "no earlier than August 16, 2017," US Trade R
Published 19 May, 2017 12:00am
Volvo Cars moves into fast-growing Indian market

Volvo Cars moves into fast-growing Indian market

Swedish carmaker Volvo said Thursday it will start assembling cars in India this year in a move into a fast-expanding market where it has had only a small presence until now. Volvo Cars said in a statement that it was teaming up with truck manufacturer Vo
Published 19 May, 2017 12:00am
General Motors to stop sales in India by year end

General Motors to stop sales in India by year end

US auto giant General Motors will stop selling cars in India by year end, it said Thursday, putting the brakes on efforts to penetrate one of the world's fastest growing markets. The firm announced it will phase out its Chevrolet brand by the end of 2017
Published 19 May, 2017 12:00am
Japan's economy posts longest expansion in a decade

Japan's economy posts longest expansion in a decade

Japan has posted its longest economic expansion in over a decade, government data showed Thursday, marking a win for Tokyo's growth bid even though its battle to conquer deflation is still far from won. The world's number three economy grew 0.5 percent in
Published 19 May, 2017 12:00am
Alibaba profits almost double to $1.55 billion

Alibaba profits almost double to $1.55 billion

Chinese e-commerce giant Alibaba said Thursday its net profit almost doubled in the latest quarter on the back of soaring growth in online shopping. Alibaba, which has made billionaire founder Jack Ma one of China's richest men, is a dominant player in on
Published 19 May, 2017 12:00am
Alibaba profits almost double to $1.55 billion

Alibaba profits almost double to $1.55 billion

Chinese e-commerce giant Alibaba said Thursday its net profit almost doubled in the latest quarter on the back of soaring growth in online shopping. Alibaba, which has made billionaire founder Jack Ma one of China's richest men, is a dominant player in on
Published 19 May, 2017 12:00am
US economic outlook brightens as job market tightens

US economic outlook brightens as job market tightens

New applications for US jobless benefits unexpectedly fell last week and the number of Americans on unemployment rolls tumbled to a 28-1/2-year low, pointing to rapidly shrinking labour market slack. The economy's brightening prospects were further booste
Published 19 May, 2017 12:00am
China stocks lower

China stocks lower

China's main stock indexes followed other Asian markets lower on Thursday as political turmoil in Washington knocked Wall Street and dented risk appetite in global markets. The blue-chip CSI300 index fell 0.3 percent, to 3,398.11 points, while the Shangha
Published 19 May, 2017 12:00am
Tokyo stocks down on mounting Trump woes

Tokyo stocks down on mounting Trump woes

Tokyo stocks dropped Thursday as the mounting crisis engulfing Donald Trump's presidency raised more questions about the future of his economic agenda, which has been credited for helping fan a global rally. The benchmark Nikkei 225 index fell 1.32 percen
Published 19 May, 2017 12:00am
Wall Street tumbles as reform hopes fade with Trump crisis
Exchange

Wall Street tumbles as reform hopes fade with Trump crisis

The S&P 500 and the Dow notched their biggest one-day fall since September 9 as investor hopes for tax cuts and other pro-business policies faded after reports that US President Donald Trump tried to interfere with a federal investigation set off alarm be
Published 19 May, 2017 12:00am
India's NSE index falls

India's NSE index falls

India's NSE index fell more than 1 percent on Thursday, its biggest one-day fall in four months, as investors locked in profits on recent gains and as global markets were hit over swirling political uncertainty in the United States. The broader NSE index
Published 19 May, 2017 12:00am
Hong Kong stocks lower

Hong Kong stocks lower

Hong Kong stocks followed others in Asia lower on Thursday as political turmoil in Washington knocked Wall Street and dented risk appetites in global markets. Equities in Asia took cues from New York, where the Dow and S&P 500 both sank about 1.8 percent
Published 19 May, 2017 12:00am
Treasury yields fall

Treasury yields fall

US Treasury yields fell to three-week lows on concerns that scandals embroiling US President Donald Trump would delay his bid to cut taxes and regulation and push through infrastructure spending, which boosted demand for safe-haven bonds. Reports that Tru
Published 19 May, 2017 12:00am
Treasury yields fall

Treasury yields fall

US Treasury yields fell to three-week lows on concerns that scandals embroiling US President Donald Trump would delay his bid to cut taxes and regulation and push through infrastructure spending, which boosted demand for safe-haven bonds. Reports that Tru
Published 19 May, 2017 12:00am
MSCI shares pose main drag on Gulf markets

MSCI shares pose main drag on Gulf markets

Stock markets in the Middle East most exposed to foreign fund flows followed global shares lower on Thursday, while the Saudi Arabian index, dominated by local investors, outperformed the region for the day and the week. Dubai's index lost 0.5 percent as
Published 19 May, 2017 12:00am
Australian shares sink

Australian shares sink

Australian shares sank on Thursday dragged down by financials such as Westpac Banking Corp, after it traded ex-dividend, despite an improvement in the country's jobless rate. The S&P/ASX 200 index dropped 0.8 percent, or 47.728 points to 5,738.3 at the cl
Published 19 May, 2017 12:00am
European shares off lows; Brazil-exposed stocks slump

European shares off lows; Brazil-exposed stocks slump

European shares fell on Thursday, but ended off lows as jitters over political turmoil in the United States abated, while stocks exposed to Brazil were hit after a scandal embroiled the country's president. The STOXX 600 index ended down 0.5 percent at 38
Published 19 May, 2017 12:00am
Most Southeast Asian stocks down

Most Southeast Asian stocks down

Most Southeast Asian stock markets fell on Thursday tracking weak global shares on heightened concerns over the Donald Trump administration's future following reports that the US president allegedly tried to influence a federal investigation. The allegati
Published 19 May, 2017 12:00am
FTSE suffers worst day in three weeks but Trump slide eases

FTSE suffers worst day in three weeks but Trump slide eases

British blue chips suffered their worst day since the end of April on Thursday, but came off lows as pressure triggered by uncertainty over US President Donald Trump's stimulus agenda eased. The mostly foreign-earning FTSE 100 index ended down 0.9 percent
Published 19 May, 2017 12:00am
Dollar wallows near six-month low in Asia

Dollar wallows near six-month low in Asia

The dollar wallowed near six-month lows against a basket of major currencies on Thursday as the US political crisis appeared to deepen, threatening to delay efforts by President Donald Trump to implement his economic stimulus plans. "Political instability
Published 19 May, 2017 12:00am
Dollar extends losses against yen, Swiss franc in Europe
Exchange

Dollar extends losses against yen, Swiss franc in Europe

The dollar extended losses against the yen and the Swiss franc on Thursday as investors feeling increasingly nervous over the future of Donald Trump's US presidency sought safe havens for their money. After some signs of stability in Asia, dollar selling
Published 19 May, 2017 12:00am
Early trade in NY: robust US data helps reverse dollar slide

Early trade in NY: robust US data helps reverse dollar slide

The US dollar reversed early losses against a basket of major currencies on Thursday after stronger-than-expected US economic data put the focus back on a widely anticipated increase in overnight interest rates by the Federal Reserve. The Swiss franc and
Published 19 May, 2017 12:00am
Dollar sinks against safe-haven currencies in NY

Dollar sinks against safe-haven currencies in NY

The dollar fell by nearly 2 percent against the yen to its lowest level since April and hit a six-month low against the Swiss franc on Wednesday as talk that US President Donald Trump could face the threat of impeachment boosted safe-haven assets. The dol
Published 19 May, 2017 12:00am
Bangladesh's interbank forex rates

Bangladesh's interbank forex rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 80.55-80.56 (previous 80.55-80.56).
Published 19 May, 2017 12:00am
Sri Lankan rupee steadies
Exchange

Sri Lankan rupee steadies

The Sri Lankan rupee ended steady on Thursday, erasing gains from earlier in the day on investor concerns that the currency would fall after the central bank set a target for buying dollars directly from the market in a bid to boost reserves. Rupee forwar
Published 19 May, 2017 12:00am
Most Asian currencies fall
Exchange

Most Asian currencies fall

Most Asian currencies fell on Thursday as uncertainty mounted over US President Donald Trump's future following reports that he tried to interfere with a federal investigation. Pressure on the White House has intensified after Trump fired FBI Director Jam
Published 19 May, 2017 12:00am
Sterling breaks through $1.30

Sterling breaks through $1.30

Sterling broke through $1.30 for the first time in almost eight months on Thursday, boosted by better-than-expected British retail sales growth that eased concerns about the broader outlook for the economy this year. Retail sales volumes rose 2.3 percent
Published 19 May, 2017 12:00am
Aussie gains

Aussie gains

The Australian dollar gained on Thursday after the domestic jobless rate fell to a four-month low, supporting the case for a stable interest rate outlook in the near term. The New Zealand dollar steadied near two-week highs. The Australian dollar rose for
Published 19 May, 2017 12:00am
Aberdeen end 26-year wait for win at Rangers

Aberdeen end 26-year wait for win at Rangers

Aberdeen claimed their first victory at Ibrox for nearly 26 years as they sealed second place in the Scottish Premiership with a 2-1 defeat of Rangers on Wednesday. Graeme Shinnie fired Aberdeen into a ninth-minute lead before Ryan Christie doubled their
Published 19 May, 2017 12:00am
Djokovic cruises into Rome quarters

Djokovic cruises into Rome quarters

Second seed Novak Djokovic reached the Rome Masters quarter-finals on Thursday after a 6-4, 6-4 third round win over Spain's Roberto Bautista Agut. Djokovic, beaten in the final by Britain's Andy Murray last year, will now face either Argentina's Juan Mar
Published 19 May, 2017 12:00am
Foul-mouthed Fognini lets rip at Rome Masters

Foul-mouthed Fognini lets rip at Rome Masters

Italian Fabio Fognini could be hit with sanctions after a foul-mouthed tirade at the chair umpire on his way to another early exit from the Rome Masters on Thursday. Fognini's defeat of Britain's out-of-form defending champion Andy Murray earlier this wee
Published 19 May, 2017 12:00am
World Cup will attract 1.3 million fans: Qatar

World Cup will attract 1.3 million fans: Qatar

Up to 1.3 million fans will visit Qatar during the 2022 World Cup, an official said Thursday, equivalent to half the Gulf country's population. Nasser Al-Khater, a senior figure with the body organising Qatar's World Cup, also said that for the first time
Published 19 May, 2017 12:00am
Air-conditioned Qatar World Cup stadium ready

Air-conditioned Qatar World Cup stadium ready

With a little under 2,022 days until the Qatar World Cup kicks-off, the tiny yet hugely ambitious Gulf state will officially unveil the tournament's first completed venue on Friday. The Khalifa International Stadium - complete with the much-talked-about c
Published 19 May, 2017 12:00am
Deschamps lashes out at 'pitiful' Benzema
Exchange

Deschamps lashes out at 'pitiful' Benzema

Didier Deschamps took a swipe at Karim Benzema on Thursday as the French coach again left the Real Madrid forward out of his 26-man squad for three key matches next month. The 29-year-old Benzema has not figured for France since October 2015 over allegati
Published 19 May, 2017 12:00am
PITF gets new office bearers

PITF gets new office bearers

Mujtaba Abbasi and Rana Sadaqat Ali have been elected as Chairman and President of the Pakistan International Taekwondo Federation (PITF) for the term of 2017-2022, respectively. Other office bearers are: Asghar Ali Solangi, Senior Vice-Chairman, Nusrat A
Published 19 May, 2017 12:00am
Umar, Junaid fined

Umar, Junaid fined

Pakistan Cricket Board (PCB) has imposed a fine of 50-percent of the match fee, on Umar Akmal and Junaid Khan for their misconduct at Pakistan Cup 2017 held last month in Rawalpindi. A spokesman for the PCB said the Board has also warned both the players
Published 19 May, 2017 12:00am
Ronaldo double puts Madrid within point of title

Ronaldo double puts Madrid within point of title

Real Madrid moved to within one point of winning La Liga as Cristiano Ronaldo struck twice to beat Celta Vigo 4-1 on Wednesday. The European champions lead Barcelona by three points at the top of the table and now need to just avoid defeat at Malaga on Su
Published 19 May, 2017 12:00am
Lehmann plays down Ashes strike threat

Lehmann plays down Ashes strike threat

National coach Darren Lehmann admitted Thursday a bitter pay dispute will be a distraction for Australia at next month's ICC Champions Trophy, but played down a boycott of this year's Ashes series. Cricket Australia and the Australian Cricketers' Associat
Published 19 May, 2017 12:00am
Sharapova granted Birmingham wildcard

Sharapova granted Birmingham wildcard

Maria Sharapova has been granted a wildcard for next month's WTA grasscourt event in Birmingham, a key Wimbledon warm-up, organisers said Thursday. It comes two days after the Russian former world number one was refused a wildcard for the French Open foll
Published 19 May, 2017 12:00am
Swedish top-flight game postponed after fixing attempt
Exchange

Swedish top-flight game postponed after fixing attempt

Thursday's top-flight clash between Swedish giants Gothenburg and AIK was postponed after at least one player was threatened and told to fix the result. There have been several similar incidents in Swedish football in the past but none involving the first
Published 19 May, 2017 12:00am
British tipoff led to PSL scandal: ICC
Exchange

British tipoff led to PSL scandal: ICC

Britain's National Crime Agency provided the initial intelligence that helped uncover a major spot-fixing scandal in the Pakistan Super League, a leading official from world cricket's governing body said Thursday. Sir Ronnie Flanagan, head of the Internat
Published 19 May, 2017 12:00am
Palestinian killed

Palestinian killed

A Palestinian was killed by an Israeli settler during a clash near the city of Nablus in the occupied West Bank on Thursday, the Palestinian health ministry and security sources said. The clash near a military post erupted when an Israeli settler in a car
Published 19 May, 2017 12:00am
Grunge rock icon Chris Cornell dies in possible suicide

Grunge rock icon Chris Cornell dies in possible suicide

Chris Cornell, an emblematic grunge rock singer whose sweeping voice masked lifelong struggles with drugs and depression, died after a concert in a possible suicide, police said Thursday. He was 52. Hours after he played in Detroit with his main band Soun
Published 19 May, 2017 12:00am
Israel declassifies Six-Day War archives

Israel declassifies Six-Day War archives

Israel on Thursday released thousands of previously classified official documents charting political decisions during the 1967 Six-Day War when it occupied the West Bank and east Jerusalem. Made public by the Israel State Archives ahead of the 50th annive
Published 19 May, 2017 12:00am
UN climate talks wrap up under threat of US exodus

UN climate talks wrap up under threat of US exodus

UN climate talks conclude in Bonn Thursday with delegates putting on a brave face despite the threat of an American exodus hanging over their prized global pact to stem global warming. Envoys from nearly 200 country signatories to the Paris Agreement kept
Published 19 May, 2017 12:00am
Fox News co-founder Roger Ailes dies

Fox News co-founder Roger Ailes dies

Roger Ailes, who led a revival of conservative American politics at the helm of the powerful Fox News media empire until he was forced out in a sexual harassment scandal, has died, the network announced Thursday. Fox's hosts held back tears as they read a
Published 19 May, 2017 12:00am
Turkey says will 'not beg' Germany to stay at Nato base

Turkey says will 'not beg' Germany to stay at Nato base

Turkey on Thursday hit back at German threats to pull its troops out of a key Nato base on its soil, saying it would "not beg" them to stay. Ankara and Berlin are locked in another spat over Turkey's refusal to allow German lawmakers to visit the Incirlik
Published 19 May, 2017 12:00am
Syrian sides agree to new UN process on constitution

Syrian sides agree to new UN process on constitution

In the first concrete results from talks this week on ending Syria's conflict, the United Nations said Thursday the warring sides had agreed to set up expert committees to discuss "constitutional issues." Representatives of Syria's government and oppositi
Published 19 May, 2017 12:00am
India's environment minister dies

India's environment minister dies

India's environment minister Anil Madhav Dave died Thursday at the age of 60 in New Delhi, shocking colleagues who remembered him as a nature lover committed to conservation. Dave complained of discomfort in the morning and was rushed from his home to the
Published 19 May, 2017 12:00am
Philippines rejects 'interfering' European aid

Philippines rejects 'interfering' European aid

The Philippines said Thursday it would refuse European Union grants that "interfered" with its internal affairs, following the bloc's repeated criticism of President Rodrigo Duterte's deadly drug war. The European Union has been one of the most vocal inte
Published 19 May, 2017 12:00am
Some Nato allies favour joining anti-IS coalition, says Stoltenberg

Some Nato allies favour joining anti-IS coalition, says Stoltenberg

Some Nato allies believe joining the US-led coalition fighting the Islamic State group in Syria and Iraq could send a strong signal of support and that would not involve a combat role, alliance chief Jens Stoltenberg said Thursday. US President Donald Tru
Published 19 May, 2017 12:00am
Copper tumbles to one-week low on Trump uncertainty
Exchange

Copper tumbles to one-week low on Trump uncertainty

Copper prices tumbled to one-week lows on Thursday as uncertainty about US President Donald Trump's future undermined expectations of a boost to infrastructure spending in the United States. Benchmark copper on the London Metal Exchange was bid down 1.8 p
Published 19 May, 2017 12:00am
Palm oil declines, tracking weaker rival oils
Vegetable Oil

Palm oil declines, tracking weaker rival oils

Malaysian palm oil futures fell on Thursday evening, tracking weaker soyaoil on the Chicago Board of Trade and other related edible oils on China's Dalian Commodity Exchange. The benchmark palm oil contract for August delivery on the Bursa Malaysia Deriva
Published 19 May, 2017 12:00am
Sugar, coffee futures sink as Brazil's currency tumbles

Sugar, coffee futures sink as Brazil's currency tumbles

Raw sugar and arabica coffee futures on ICE fell sharply on Thursday, pressured by an 8 percent slump in the Brazilian currency following allegations that the country's president agreed to bribe a witness in corruption probe. Brazil is the top producer of
Published 19 May, 2017 12:00am
Gold rises in NY

Gold rises in NY

Gold rose to a two-week high on Wednesday as political turmoil in the United States reduced expectations of aggressive interest rate rises this year, pushed down US bond yields and drove the dollar to its lowest in six months. Lower yields reduce the oppo
Published 19 May, 2017 12:00am
Gold weakens in Asia

Gold weakens in Asia

Gold prices weakened after touching a more than two-week high on Thursday, weighed down by profit-taking amid political turmoil in the United States. The yellow metal rose about 2 percent on Wednesday in its biggest one-day percentage gain since June last
Published 19 May, 2017 12:00am
Gold eases in Europe
Exchange

Gold eases in Europe

Gold eased on Thursday as a bounce in the dollar prompted some buyers to cash in gains after its biggest one-day rally in nearly a year, though uncertainty over the outlook for the Trump presidency underpinned the metal near two-week highs. Gold surged ne
Published 19 May, 2017 12:00am
Soyabeans down

Soyabeans down

US soyabean futures fell nearly 3 percent on Thursday as a plunge in the value of Brazil's currency threatened US soya exports and encouraged Brazilian farmers to step up sales from their record-large harvest, analysts said. Corn and wheat followed soyabe
Published 19 May, 2017 12:00am
US MIDDAY: gold turns lower
Exchange

US MIDDAY: gold turns lower

Gold fell on Thursday as a bounce in the dollar prompted some buyers to cash in gains after its biggest one-day rally in nearly a year, though uncertainty over the outlook for the Trump presidency underpinned the metal near two-week highs. Gold surged nea
Published 19 May, 2017 12:00am
Text of SRB notification

Text of SRB notification

The following is the full text of SRB's Notification: "No SRB -3-4/7/2017. In exercise of the powers conferred by section 45 of the Sindh Sales Tax on Services Act, 2011 (Sindh Act No XII of 2011), the Sindh Revenue Board is pleased to exempt the whole of
Published 19 May, 2017 12:00am
Hearing of sugarcane growers' petitions adjourned

Hearing of sugarcane growers' petitions adjourned

The Lahore High Court Thursday adjourned to May 24 the hearing of the petitions of sugarcane growers seeking payments from various banks for further arguments. Petitioner Nishat and others stated that they supplied sugarcane to Brother Sugar Mill in 2013
Published 19 May, 2017 12:00am
Metro Cash & Carry celebrates FSSC achievement

Metro Cash & Carry celebrates FSSC achievement

Metro Cash and Carry Pakistan celebrated another milestone in the field of Sustainable Quality Assurance when its Airport Store was awarded "(FSSC) Food Safety System Certification 22000", which is the third store to achieve this milestone. Metro Cash & C
Published 19 May, 2017 12:00am
Bizenjo slams labourers' killing in Gwadar

Bizenjo slams labourers' killing in Gwadar

The Federal Minister for Ports and Shipping and Chief of National Party of Pakistan Mir Hasil Bizenjo has strongly condemned the target killing of nine labourers of Nushero Feroz district of Sindh and termed it the brutal act of those who do not want the
Published 19 May, 2017 12:00am
Shortage of LPG feared in Ramazan

Shortage of LPG feared in Ramazan

LPG Chamber of Pakistan has warned of LPG shortage during the holy month of Ramazan following a refusal of the LPG terminal company, a subsidiary of Sui Southern Gas Company (SSGC), dealing with LPG importers to allow handling of two LPG ships. The govern
Published 19 May, 2017 12:00am
PTI rally in Quetta today

PTI rally in Quetta today

Pakistan Tehreek-e-Insaf (PTI) will put on a political power show in Quetta today (Friday) after a span of five years. The rally will be held at Quetta's Ayoub Stadium where PTI Chairman Imran Khan will address thousands of his supporters. Several main ro
Published 19 May, 2017 12:00am
Gas pipeline damaged in explosion in Manghopir

Gas pipeline damaged in explosion in Manghopir

An explosion damaged the Sui gas pipeline near Madinatul Hikmat area of Manghopir in the wee hours of Thursday. According to Sui Gas officials, the explosion caused damage to the 16-inch diameter gas pipeline. Due to the incident, gas supply to Manghopir,
Published 19 May, 2017 12:00am
UBL signs MoU with Sinosure in Beijing

UBL signs MoU with Sinosure in Beijing

Wajahat Husain, President & CEO UBL, Pakistan's Best Bank 2016, recently visited Beijing, China where he met with top executives of leading Chinese Banks and Policy Institutions and further cemented business ties. A landmark achievement during this visit
Published 19 May, 2017 12:00am
Haideri terms attack on his convoy an 'act of cowardice'

Haideri terms attack on his convoy an 'act of cowardice'

Deputy Chairman of the Senate Maulana Abdul Ghafoor Haideri has accused the neighbouring countries for becoming tool of India which is hell bent to destabilise and damage Pakistan. Addressing a press conference after his recovery from the attempt on his l
Published 19 May, 2017 12:00am
Global telecom giants undertaking major ventures: minister
Exchange

Global telecom giants undertaking major ventures: minister

Minister of State for Information Technology and Telecommunications Anusha Rahman said on Thursday that global telecom giants are undertaking major ventures in Pakistan. "Our country's start-up enterprises are winning great accolades at global technology
Published 19 May, 2017 12:00am
AIDC meets today after being accused of altering meeting's minutes

AIDC meets today after being accused of altering meeting's minutes

Auto Industry Development Committee (AIDC) is all set to hold a stormy meeting on Friday (today) after accusations of alteration in minutes of the body's 24th meeting held last month, well-informed sources told Business Recorder. The main agenda of
Published 19 May, 2017 12:00am
National Assembly passes six bills

National Assembly passes six bills

The National Assembly passed as many as six bills including 'The Witness Protection, Security and Benefit Bill, 2016,' 'The Alternative Dispute Resolution Bill, 2017' and 'The National Counter Terrorism Authority (Amendment) Bill, 2017'. The House adopted
Published 19 May, 2017 12:00am
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