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Print - 2017-07-13
Moody's affirms B3 rating, risks remain
Exchange

Moody's affirms B3 rating, risks remain

Moody's Investors Service (Moody's) has affirmed the government of Pakistan B3 rating and senior unsecured ratings, but cautioned that domestic politics, stalling of the government's post-IMF programme reform agenda and geopolitical risk may continue to r
Published 13 Jul, 2017 12:00am
Dar has lost credibility to run MoF: PTI
Exchange

Dar has lost credibility to run MoF: PTI

Pakistan Tehreek-e-Insaf (PTI) leader Asad Umar Wednesday said that Ishaq Dar has lost credibility to run the Finance Ministry as his "confessional statement" of money laundering for Sharif family has been corroborated now by more evidence. "Dar's confess
Published 13 Jul, 2017 12:00am
Dar has lost credibility to run MoF: PTI
Exchange

Dar has lost credibility to run MoF: PTI

Pakistan Tehreek-e-Insaf (PTI) leader Asad Umar Wednesday said that Ishaq Dar has lost credibility to run the Finance Ministry as his "confessional statement" of money laundering for Sharif family has been corroborated now by more evidence. "Dar's confess
Published 13 Jul, 2017 12:00am
BRIndex30 gains 121.86 points

BRIndex30 gains 121.86 points

On Wednesday, BRIndex30 opened at 22,916.51. It touched an intraday high of 23,290.31 and an intraday low of 22,462.35 and closed at 23,038.37 which was 121.86 points or 0.53 percent higher than previous close. Total volume was 126,405,600, which was 58.7
Published 13 Jul, 2017 12:00am
BRIndex30 gains 121.86 points

BRIndex30 gains 121.86 points

On Wednesday, BRIndex30 opened at 22,916.51. It touched an intraday high of 23,290.31 and an intraday low of 22,462.35 and closed at 23,038.37 which was 121.86 points or 0.53 percent higher than previous close. Total volume was 126,405,600, which was 58.7
Published 13 Jul, 2017 12:00am
Bearish trend strengthens
Exchange

Bearish trend strengthens

A bearish trend continued on Pakistan Stock Exchange Wednesday. The benchmark KSE-100 index lost another 328.39 points to close at 43,792.19 points. After opening on a negative note, the index hit 43,027.28 points intra-day low, down 1,093.30 points. Howe
Published 13 Jul, 2017 12:00am
Bearish trend strengthens
Exchange

Bearish trend strengthens

A bearish trend continued on Pakistan Stock Exchange Wednesday. The benchmark KSE-100 index lost another 328.39 points to close at 43,792.19 points. After opening on a negative note, the index hit 43,027.28 points intra-day low, down 1,093.30 points. Howe
Published 13 Jul, 2017 12:00am
Bearish trend strengthens
Exchange

Bearish trend strengthens

A bearish trend continued on Pakistan Stock Exchange Wednesday. The benchmark KSE-100 index lost another 328.39 points to close at 43,792.19 points. After opening on a negative note, the index hit 43,027.28 points intra-day low, down 1,093.30 points. Howe
Published 13 Jul, 2017 12:00am
RBS fined $5.5 billions over US subprime crisis

RBS fined $5.5 billions over US subprime crisis

Royal Bank of Scotland agreed Wednesday to pay a US regulator $5.5 billion (4.8 billion euros) over its role in the subprime mortgage crisis more than a decade ago. The lender said in a statement that the £4.2-billion penalty was a "heavy price" to settle
Published 13 Jul, 2017 12:00am
RBS fined $5.5 billions over US subprime crisis

RBS fined $5.5 billions over US subprime crisis

Royal Bank of Scotland agreed Wednesday to pay a US regulator $5.5 billion (4.8 billion euros) over its role in the subprime mortgage crisis more than a decade ago. The lender said in a statement that the £4.2-billion penalty was a "heavy price" to settle
Published 13 Jul, 2017 12:00am
Powers and functions of DGI&IR: LHC declares SRO 116 illegal

Powers and functions of DGI&IR: LHC declares SRO 116 illegal

The Lahore High Court (LHC) has set aside SRO 116 of the Federal Board of Revenue (FBR) relating to the powers and functions of Directorate General Intelligence and Investigation, Inland Revenue under Sales Tax Act 1990 and declared the SRO 116 as illegal
Published 13 Jul, 2017 12:00am
Powers and functions of DGI&IR: LHC declares SRO 116 illegal

Powers and functions of DGI&IR: LHC declares SRO 116 illegal

The Lahore High Court (LHC) has set aside SRO 116 of the Federal Board of Revenue (FBR) relating to the powers and functions of Directorate General Intelligence and Investigation, Inland Revenue under Sales Tax Act 1990 and declared the SRO 116 as illegal
Published 13 Jul, 2017 12:00am
Powers and functions of DGI&IR: LHC declares SRO 116 illegal

Powers and functions of DGI&IR: LHC declares SRO 116 illegal

The Lahore High Court (LHC) has set aside SRO 116 of the Federal Board of Revenue (FBR) relating to the powers and functions of Directorate General Intelligence and Investigation, Inland Revenue under Sales Tax Act 1990 and declared the SRO 116 as illegal
Published 13 Jul, 2017 12:00am
CoAS spells out CPEC benefits

CoAS spells out CPEC benefits

Army Chief General Qamar Javed Bajwa has said that China-Pakistan Economic Corridor (CPEC) is truly a harbinger of economic development, peace and prosperity in the region and urged all national institutions to make all-out efforts to ensure the success o
Published 13 Jul, 2017 12:00am
CoAS spells out CPEC benefits

CoAS spells out CPEC benefits

Army Chief General Qamar Javed Bajwa has said that China-Pakistan Economic Corridor (CPEC) is truly a harbinger of economic development, peace and prosperity in the region and urged all national institutions to make all-out efforts to ensure the success o
Published 13 Jul, 2017 12:00am
CoAS spells out CPEC benefits

CoAS spells out CPEC benefits

Army Chief General Qamar Javed Bajwa has said that China-Pakistan Economic Corridor (CPEC) is truly a harbinger of economic development, peace and prosperity in the region and urged all national institutions to make all-out efforts to ensure the success o
Published 13 Jul, 2017 12:00am
Mourners clash with police at funeral in IHK

Mourners clash with police at funeral in IHK

At least a dozen protesters suffered injuries in Indian-held Kashmir Wednesday as security forces fired teargas and pellets at angry mourners who defied a curfew to hold a funeral for a slain freedom fighter, witnesses and police said. Authorities had imp
Published 13 Jul, 2017 12:00am
Mourners clash with police at funeral in IHK

Mourners clash with police at funeral in IHK

At least a dozen protesters suffered injuries in Indian-held Kashmir Wednesday as security forces fired teargas and pellets at angry mourners who defied a curfew to hold a funeral for a slain freedom fighter, witnesses and police said. Authorities had imp
Published 13 Jul, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (July 12, 2017).

Published 13 Jul, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (July 12, 2017).

Published 13 Jul, 2017 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (July 12, 2017).

Published 13 Jul, 2017 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (July 12, 2017).

Published 13 Jul, 2017 12:00am
Money Market Report
Kerb

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (July 12, 2017).
Published 13 Jul, 2017 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Wednesday (July 12, 2017).

Published 13 Jul, 2017 12:00am
Currency notes: exchange rates
Exchange

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (July 12, 2017).

Published 13 Jul, 2017 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Wednesday (July 12, 2017).

Published 13 Jul, 2017 12:00am
Barclays bid rates and maximum rates for payment of interest
Exchange

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 13 Jul, 2017 12:00am
State Bank of Pakistan conversion rates
Exchange

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 13 Jul, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 13 Jul, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 13 Jul, 2017 12:00am
PMEX daily trading report
Exchange

PMEX daily trading report

On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 2,845. The total traded value of Metals, Energy and COTS/FX was recorded at PKR 3.848 billion and the number of lots traded was 11,055.
Published 13 Jul, 2017 12:00am
Bangladesh tea prices rise

Bangladesh tea prices rise

Tea prices in Bangladesh rose for a second straight week on strong demand for quality leaf while sales rose despite higher volume on offer. Bangladeshi tea fetched an average of 223.38 taka ($2.74) per kg at the weekly auction on Tuesday, compared with 21
Published 13 Jul, 2017 12:00am
EU wheat little changed as US prices fall
Exchange

EU wheat little changed as US prices fall

European wheat futures were little changed on Tuesday as US prices fell after weather-fuelled gains on Monday, while traders waited for clearer indications about the French harvest after rain raised fears of reduced quality. December milling wheat, the mo
Published 13 Jul, 2017 12:00am
Palm oil firmer on European vegoils market
Vegetable Oil

Palm oil firmer on European vegoils market

Palm oil on the European vegetable oils market was mostly offered firmer on Tuesday on a weaker dollar, although July shipment eased with Malaysian palm oil futures. July shipment palm oil was offered $17.50 a tonne down from Monday, while other positions
Published 13 Jul, 2017 12:00am
Chinese steel futures rise to 3-1/2-year high
Exchange

Chinese steel futures rise to 3-1/2-year high

China's steel rebar futures rose to their highest in three-and-a-half years on Tuesday because of increasing concerns of tight supply which is pushing profits at mills higher. China has eliminated about 120 million tonnes of low-quality steel capacity in
Published 13 Jul, 2017 12:00am
Activities at Karachi & Qasim Ports

Activities at Karachi & Qasim Ports

The Karachi Port handled 157,915 tonnes of cargo comprising 132,680 tonnes of import cargo and 25,235 tonnes of export cargo including 7,049 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday. The total import cargo of
Published 13 Jul, 2017 12:00am
Upward trend persists on cotton market
Cotton

Upward trend persists on cotton market

A kind of firmness prevailed on the cotton market on Wednesday in the process of moderate buying by mills, dealers said. The official spot rate extended overnight gains, picking up Rs 50 to Rs 6200, they said. In ready session nearly 4800 bales of cotton
Published 13 Jul, 2017 12:00am
US FOB Gulf corn, soyabean offers slump on weak demand

US FOB Gulf corn, soyabean offers slump on weak demand

Export premiums for corn and soyabeans shipped from the US Gulf Coast were weaker on Tuesday on plentiful supplies and light demand, while wheat export premiums were mostly flat, traders said. Active farmer selling of corn and soyabeans in South America h
Published 13 Jul, 2017 12:00am
Curbs knock investor borrowing in Australia's red-hot property market

Curbs knock investor borrowing in Australia's red-hot property market

Home lending to property investors in Australia fell for a second straight month in May, early evidence that curbs enforced by regulators to cool the country's red-hot property market was starting to bite. Tuesday's data from the Australian Bureau of Stat
Published 13 Jul, 2017 12:00am
China's Legend in talks to buy stake in Luxembourg bank BIL

China's Legend in talks to buy stake in Luxembourg bank BIL

China's Legend Holdings Corp is in talks on a potential investment in Qatari-owned Banque International a Luxembourg (BIL), a person with knowledge of the matter told Reuters. Legend, owner of computer group Lenovo Group Ltd, has been in discussions to bu
Published 13 Jul, 2017 12:00am
Australia business conditions strongest since 2008

Australia business conditions strongest since 2008

A measure of Australian business conditions climbed to its highest since early 2008 in June as sales and profits picked up across a range of industries, another sign the economy had regained its feet after stumbling early in the year. National Australia B
Published 13 Jul, 2017 12:00am
France seeks to make Paris Europe's leading finance hub

France seeks to make Paris Europe's leading finance hub

France will use "all means" to make Paris Europe's main post-Brexit financial capital, Prime Minister Edouard Philippe said on Tuesday, while international bankers said they wanted to see if such pro-business reforms would stick over time. Eager to attrac
Published 13 Jul, 2017 12:00am
Bangladesh inflation cools in FY 2016-17, food inflation climbs

Bangladesh inflation cools in FY 2016-17, food inflation climbs

Bangladesh's annual inflation eased to 5.44 percent in the financial year that ended in June, the planning minister said on Tuesday, as non-food prices rose at a slower pace but food prices climbed to a two-year high. Food inflation in the financial year
Published 13 Jul, 2017 12:00am
ThyssenKrupp to slash 2,500 jobs in new cost-saving drive
Exchange

ThyssenKrupp to slash 2,500 jobs in new cost-saving drive

German industrial conglomerate ThyssenKrupp said Tuesday it would slash up to 2,500 administrative jobs worldwide as part of a massive cost-saving drive. Hoping to save 400 million euros ($456 million) in administrative costs, ThyssenKrupp plans to slash
Published 13 Jul, 2017 12:00am
ECB mass bond-buying good for global economy: board member

ECB mass bond-buying good for global economy: board member

The European Central Bank's raft of unconventional policy measures - including negative interest rates and mass bond-buying - have helped rather than harmed countries outside the eurozone, board member Benoit Coeure said Tuesday. "The view that asset purc
Published 13 Jul, 2017 12:00am
ECB mass bond-buying good for global economy: board member

ECB mass bond-buying good for global economy: board member

The European Central Bank's raft of unconventional policy measures - including negative interest rates and mass bond-buying - have helped rather than harmed countries outside the eurozone, board member Benoit Coeure said Tuesday. "The view that asset purc
Published 13 Jul, 2017 12:00am
Debt-ridden Air Zimbabwe sacks half its workforce

Debt-ridden Air Zimbabwe sacks half its workforce

Air Zimbabwe has laid off 200 employees - nearly half its workforce - to try to stay in the air, Zimbabwe state media reported Wednesday, as the country's economic troubles deepen. Under long-time leader President Robert Mugabe, Zimbabwe has suffered mass
Published 13 Jul, 2017 12:00am
Brazil's Senate passes wide labour reforms

Brazil's Senate passes wide labour reforms

Brazil's Senate on Tuesday approved wide labour reforms to revive Latin America's biggest economy, a major boost for embattled President Michel Temer who is trying to pull the country out of its worst recession ever. The legislation, which comes as Brazil
Published 13 Jul, 2017 12:00am
S&P cuts Venezuela debt ratings, sees risk of default
Exchange

S&P cuts Venezuela debt ratings, sees risk of default

S&P Global Ratings said Wednesday it has lowered Venezuela's sovereign debt ratings, warning of the risk of default as economic conditions in the oil-rich country worsen and political tensions rise. Venezuela has been wracked by more than a month of viole
Published 13 Jul, 2017 12:00am
S&P cuts Venezuela debt ratings, sees risk of default
Exchange

S&P cuts Venezuela debt ratings, sees risk of default

S&P Global Ratings said Wednesday it has lowered Venezuela's sovereign debt ratings, warning of the risk of default as economic conditions in the oil-rich country worsen and political tensions rise. Venezuela has been wracked by more than a month of viole
Published 13 Jul, 2017 12:00am
Retail inflation in India hits record low

Retail inflation in India hits record low

Retail inflation in India hit a record low in June, according to government data released Wednesday, reflecting a slowdown in the economy and adding pressure for a rate cut, experts said. Retail inflation for June came in at 1.54 percent, down from 2.18 p
Published 13 Jul, 2017 12:00am
Women are oil industry's great 'untapped reserve': study

Women are oil industry's great 'untapped reserve': study

Women are "chronically" under-represented in the oil and gas industry and the sector is losing out by failing to draw on their skills, a study said on Wednesday. Women account for just 22 percent of workers in the oil and gas sector, said the joint study
Published 13 Jul, 2017 12:00am
Yellen still sees only 'gradual' rate hikes

Yellen still sees only 'gradual' rate hikes

Federal Reserve Chair Janet Yellen said Wednesday she still foresees only "gradual" interest rate increases in the few years ahead, as the US economy grows stronger and employment expands. Key question marks remain however about how the economic outlook w
Published 13 Jul, 2017 12:00am
Qatar gets first boycott-busting cows

Qatar gets first boycott-busting cows

A first herd of boycott-busting cows has been airlifted to Qatar to boost milk supplies five weeks after neighbouring Gulf states cut links with the emirate. The several dozen Holsteins were flown in from Budapest, the first of 4,000 cattle to be imported
Published 13 Jul, 2017 12:00am
Germany toughens rules on foreign buyouts in strategic sectors

Germany toughens rules on foreign buyouts in strategic sectors

Germany's cabinet agreed Wednesday to tighten scrutiny on takeovers of companies in strategic industries by buyers outside the EU, the Economy Ministry said, reacting to Europe-wide disquiet over Chinese takeovers. New regulations will allow Berlin more t
Published 13 Jul, 2017 12:00am
Confidence in banking sector ahead of Fed testimony supports ME markets

Confidence in banking sector ahead of Fed testimony supports ME markets

Stock markets in the Middle East rose on Wednesday, bolstered by banking shares ahead of testimony from Federal Reserve Chair Janet Yellen that could offer clues on when the central bank will tighten US monetary policy. Most Gulf currencies are pegged to
Published 13 Jul, 2017 12:00am
Hong Kong shares rise to two years high

Hong Kong shares rise to two years high

Hong Kong's benchmark stock index rose for the third straight day on Wednesday to a two-year closing high, bolstered by China fund flows and investors' bargain hunting for blue chips. The market was firm even as Hong Kong's second board for start-ups fell
Published 13 Jul, 2017 12:00am
Tokyo stocks lower

Tokyo stocks lower

Tokyo stocks ended lower on Wednesday as a pick-up in the yen dented Japan's exporters while banks also fell, with investors eyeing Federal Reserve chief Janet Yellen's congressional testimony later in the day. Japan's currency - seen as a safe haven in t
Published 13 Jul, 2017 12:00am
Wall Street flat as politics drive stocks
Exchange

Wall Street flat as politics drive stocks

US stocks ended little changed on Tuesday in a session marked by knee-jerk reactions to events in Washington that drove investors to first worry then hope about prospects for the Trump administration's economic agenda. Stocks fell sharply in late-morning
Published 13 Jul, 2017 12:00am
Treasury yields slip

Treasury yields slip

US Treasury yields slipped in choppy trading on Tuesday after Federal Reserve officials, on the eve of Fed Chair Janet Yellen's congressional testimony on monetary policy, expressed doubts about further interest rate hikes due to low inflation. Fed Board
Published 13 Jul, 2017 12:00am
Treasury yields slip

Treasury yields slip

US Treasury yields slipped in choppy trading on Tuesday after Federal Reserve officials, on the eve of Fed Chair Janet Yellen's congressional testimony on monetary policy, expressed doubts about further interest rate hikes due to low inflation. Fed Board
Published 13 Jul, 2017 12:00am
Indian shares stay at record close

Indian shares stay at record close

India's main stock indexes closed at their highest ever levels for a third day running on Wednesday, as shares of energy companies such as Reliance Industries Ltd advanced on the back of higher crude prices. The benchmark BSE index closed up 0.18 percent
Published 13 Jul, 2017 12:00am
China stocks slip

China stocks slip

China stocks reversed earlier gains to end lower on Wednesday, as investors taking part in a big-cap rally seen in recent weeks paused for breath, ahead of Federal Reserve Chair Janet Yellen's address to congress. The blue-chip CSI300 index fell 0.3 perce
Published 13 Jul, 2017 12:00am