News Archives for Print - 2018-08-12 - Business Recorder

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Print - 2018-08-12

Assets held abroad: body underscores need for designating appropriate LEAs

Currency

Assets held abroad: body underscores need for designating appropriate LEAs

The committee set up for tracing and retrieving Pakistani citizens'''' undisclosed assets and money stashed in banks abroad has recommended that appropriate law enforcement agencies (LEAs) be designated for the purpose.

Published 12 Aug, 2018 12:00am

Assets held abroad: body underscores need for designating appropriate LEAs

Currency

Assets held abroad: body underscores need for designating appropriate LEAs

The committee set up for tracing and retrieving Pakistani citizens'' undisclosed assets and money stashed in banks abroad has recommended that appropriate law enforcement agencies (LEAs) be designated for the purpose.

Published 12 Aug, 2018 12:00am

Assets held abroad: body underscores need for designating appropriate LEAs

Currency

Assets held abroad: body underscores need for designating appropriate LEAs

The committee set up for tracing and retrieving Pakistani citizens' undisclosed assets and money stashed in banks abroad has recommended that appropriate law enforcement agencies (LEAs) be designated for the purpose.

Published 12 Aug, 2018 12:00am

Assets held abroad: body underscores need for designating appropriate LEAs

Currency

Assets held abroad: body underscores need for designating appropriate LEAs

The committee set up for tracing and retrieving Pakistani citizens' undisclosed assets and money stashed in banks abroad has recommended that appropriate law enforcement agencies (LEAs) be designated for the purpose.

Published 12 Aug, 2018 12:00am

Iraq PM to visit Iran, Turkey as US sanctions bite

Iraq PM to visit Iran, Turkey as US sanctions bite

Iraq's Prime Minister Haider al-Abadi is to visit top trading partners Turkey and Iran next week, an official said Saturday, days after Washington slapped new sanctions on Tehran and piled economic pressure on Ankara. Abadi "will head to Turkey on Tuesday

Published 12 Aug, 2018 12:00am

Iraq PM to visit Iran, Turkey as US sanctions bite

Iraq PM to visit Iran, Turkey as US sanctions bite

Iraq's Prime Minister Haider al-Abadi is to visit top trading partners Turkey and Iran next week, an official said Saturday, days after Washington slapped new sanctions on Tehran and piled economic pressure on Ankara. Abadi "will head to Turkey on Tuesday

Published 12 Aug, 2018 12:00am

Turkey is a ''target of economic war'', Erdogan says

Currency

Turkey is a ''target of economic war'', Erdogan says

President Tayyip Erdogan denied on Saturday that Turkey is in a currency crisis, dismissing a plunge in the lira as ''fluctuations'' which have nothing to do with economic fundamentals. Speaking after US President Donald Trump doubled tariffs on Turkish s

Published 12 Aug, 2018 12:00am

Turkey is a 'target of economic war', Erdogan says

Currency

Turkey is a 'target of economic war', Erdogan says

President Tayyip Erdogan denied on Saturday that Turkey is in a currency crisis, dismissing a plunge in the lira as 'fluctuations' which have nothing to do with economic fundamentals. Speaking after US President Donald Trump doubled tariffs on Turkish ste

Published 12 Aug, 2018 12:00am

Turkey is a 'target of economic war', Erdogan says

Currency

Turkey is a 'target of economic war', Erdogan says

President Tayyip Erdogan denied on Saturday that Turkey is in a currency crisis, dismissing a plunge in the lira as 'fluctuations' which have nothing to do with economic fundamentals. Speaking after US President Donald Trump doubled tariffs on Turkish ste

Published 12 Aug, 2018 12:00am

PTI nominates Ismail for Sindh governor's slot

PTI nominates Ismail for Sindh governor's slot

Pakistan Tehreek-e-Insaf (PTI) nominated Imran Ismail for new governor Sindh on Saturday. A statement issued here by the central media secretariat of the party said that PTI Chairman Imran Khan finalized Ismail's name for the top provincial post. He has a

Published 12 Aug, 2018 12:00am

PTI nominates Ismail for Sindh governor's slot

PTI nominates Ismail for Sindh governor's slot

Pakistan Tehreek-e-Insaf (PTI) nominated Imran Ismail for new governor Sindh on Saturday. A statement issued here by the central media secretariat of the party said that PTI Chairman Imran Khan finalized Ismail's name for the top provincial post. He has a

Published 12 Aug, 2018 12:00am

PM's oath-taking ceremony: Bilawal, Shahbaz to be invited: Fawad

PM's oath-taking ceremony: Bilawal, Shahbaz to be invited: Fawad

Pakistan Tehreek-e-Insaf (PTI) Saturday said it would invite PML-N president Shahbaz Sharif, PPP chairman Bilawal Bhutto Zardari and former Opposition Leader Khursheed Shah to the oath-taking ceremony of new prime minister. "Heads of all parliamentary par

Published 12 Aug, 2018 12:00am

PM's oath-taking ceremony: Bilawal, Shahbaz to be invited: Fawad

PM's oath-taking ceremony: Bilawal, Shahbaz to be invited: Fawad

Pakistan Tehreek-e-Insaf (PTI) Saturday said it would invite PML-N president Shahbaz Sharif, PPP chairman Bilawal Bhutto Zardari and former Opposition Leader Khursheed Shah to the oath-taking ceremony of new prime minister. "Heads of all parliamentary par

Published 12 Aug, 2018 12:00am

ECP asks MPs-elect to vacate extra seats

ECP asks MPs-elect to vacate extra seats

The Election Commission of Pakistan (ECP) on Saturday directed the candidates elected to multiple national or provincial assembly seats in July 25 polls to resign from the seats except the one they wish to retain. A notification issued by the ECP says tha

Published 12 Aug, 2018 12:00am

ECP asks MPs-elect to vacate extra seats

ECP asks MPs-elect to vacate extra seats

The Election Commission of Pakistan (ECP) on Saturday directed the candidates elected to multiple national or provincial assembly seats in July 25 polls to resign from the seats except the one they wish to retain. A notification issued by the ECP says tha

Published 12 Aug, 2018 12:00am

Four killed in attack on Gilgit-Baltistan police post

Four killed in attack on Gilgit-Baltistan police post

A militant attack on a police post in northern Pakistan left four people dead, officials said Saturday, the second violent incident this month in the relatively peaceful region of Gilgit-Baltistan. The mountainous area, whose peaks attract climbers and to

Published 12 Aug, 2018 12:00am

Four killed in attack on Gilgit-Baltistan police post

Four killed in attack on Gilgit-Baltistan police post

A militant attack on a police post in northern Pakistan left four people dead, officials said Saturday, the second violent incident this month in the relatively peaceful region of Gilgit-Baltistan. The mountainous area, whose peaks attract climbers and to

Published 12 Aug, 2018 12:00am

Three Chinese among six wounded in suicide attack

Three Chinese among six wounded in suicide attack

At least six people, including three Chinese nationals, were wounded in a suicide attack on a bus in Dalbandin on Saturday, officials said. An attacker struck the vehicle in the Dalbandin region of Balochistan province, as it transported Chinese engineers

Published 12 Aug, 2018 12:00am

Three Chinese among six wounded in suicide attack

Three Chinese among six wounded in suicide attack

At least six people, including three Chinese nationals, were wounded in a suicide attack on a bus in Dalbandin on Saturday, officials said. An attacker struck the vehicle in the Dalbandin region of Balochistan province, as it transported Chinese engineers

Published 12 Aug, 2018 12:00am

Trade under CPEC: International consultants to conduct feasibility studies

Trade under CPEC: International consultants to conduct feasibility studies

A consortium of business schools on China-Pakistan Economic Corridor (CPEC) to conduct research on relocation of industries to Pakistan from China lacks the capability to accomplish the task due to limited capacity of their researchers in this field.

Published 12 Aug, 2018 12:00am

Trade under CPEC: International consultants to conduct feasibility studies

Trade under CPEC: International consultants to conduct feasibility studies

A consortium of business schools on China-Pakistan Economic Corridor (CPEC) to conduct research on relocation of industries to Pakistan from China lacks the capability to accomplish the task due to limited capacity of their researchers in this field.

Published 12 Aug, 2018 12:00am

Trade under CPEC: International consultants to conduct feasibility studies

Trade under CPEC: International consultants to conduct feasibility studies

A consortium of business schools on China-Pakistan Economic Corridor (CPEC) to conduct research on relocation of industries to Pakistan from China lacks the capability to accomplish the task due to limited capacity of their researchers in this field.

Published 12 Aug, 2018 12:00am

YOUR RUPEE LAST MONTH

Currency

YOUR RUPEE LAST MONTH

Following currency fluctuations took place in foreign exchange rates during the last month. (July 3 to 31, 2018)

Published 12 Aug, 2018 12:00am

The Weather

The Weather

The weather report on Saturday (August 11, 2018) and the forecast for Sunday (August 12, 2018).

Published 12 Aug, 2018 12:00am

Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Karachi Yarn Market Rate

Yarn Prices

Karachi Yarn Market Rate

Karachi Yarn Market Rates on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Karachi Yarn Market Rate

Yarn Prices

Karachi Yarn Market Rate

Karachi Yarn Market Rates on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Faisalabad yarn and fibre prices

Yarn Prices

Faisalabad yarn and fibre prices

Cotton yarn rates in rupees per 10 Lbs on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Faisalabad yarn and fibre prices

Yarn Prices

Faisalabad yarn and fibre prices

Cotton yarn rates in rupees per 10 Lbs on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (August 11, 2018)

Published 12 Aug, 2018 12:00am

Lahore Paper Market Rates

Lahore Paper Market Rates

Paper market rates in rupees on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Kerb buying and selling rate of US dollar

Kerb

Kerb buying and selling rate of US dollar

Dollar buying and selling rate in the kerb market in rupees on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

THE RUPEE: mixed trend

Currency

THE RUPEE: mixed trend

The rupee showed mixed trend against the dollar on the money market on Saturday in the process of trading, dealers said.

Published 12 Aug, 2018 12:00am

THE RUPEE: mixed trend

Currency

THE RUPEE: mixed trend

The rupee showed mixed trend against the dollar on the money market on Saturday in the process of trading, dealers said.

Published 12 Aug, 2018 12:00am

Cross Transactions between Client to Client & Financial Institutions

Cross Transactions between Client to Client & Financial Institutions

The following were the cross transactions between client to client & financial institutions here on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Open market rates of foreign currencies

Currency

Open market rates of foreign currencies

Open market rates of foreign currencies supplied by the Forex Association of Pakistan on Saturday (August 11, 2018).

Published 12 Aug, 2018 12:00am

Aaj TV - Sunday's schedule

Aaj TV - Sunday's schedule

All timings are in PST (Pakistan Standard Time).

Published 12 Aug, 2018 12:00am

Soyameal firmer on European feeds market

Soyameal firmer on European feeds market

Soyameal on the European meals and feeds market was firmer on Thursday due to positioning ahead of Friday's US Department of Agriculture crop and supply/demand reports.

Published 12 Aug, 2018 12:00am

Ukraine to boost wheat exports to Saudi Arabia

Ukraine to boost wheat exports to Saudi Arabia

A low harvest in Europe and Riyadh's decision to cancel grain imports from Canada might give Ukraine a chance to export wheat to Saudi Arabia again this season, analysts said on Thursday. Ukraine is a major supplier of barley to Saudi Arabia but has not s

Published 12 Aug, 2018 12:00am

Coffee supply in Indonesia seen falling, Vietnam tepid

Coffee supply in Indonesia seen falling, Vietnam tepid

Coffee supply in Indonesia is expected to dip in September from a month earlier as the peak harvest season draws to a close, while Vietnam market remained subdued, traders said on Thursday. Robusta beans in Indonesia's Lampung province were traded at a pr

Published 12 Aug, 2018 12:00am

Brazil imports more corn from Argentina

Brazil imports more corn from Argentina

JBS SA, the world's largest meatpacker, is importing more corn from Argentina into Brazil for feed as rising local freight costs push up prices for the domestic crop, a person with knowledge of the matter said on Tuesday. JBS operations in Brazil had reso

Published 12 Aug, 2018 12:00am

Argentina wheat planting ends with hopes of record crop

Argentina wheat planting ends with hopes of record crop

Argentine farmers are finishing this year's wheat sowing, helped by moist soils and cold weather that is prolonging the vegetative stage of crops, raising hopes of high yields and a record harvest, growers and analysts said on Wednesday. Cold Southern Hem

Published 12 Aug, 2018 12:00am

CBOT soyabean futures retreat as USDA seen planing huge stocks

CBOT soyabean futures retreat as USDA seen planing huge stocks

Chicago Board of Trade soyabean futures fell for the first time in three sessions on Thursday as traders squared positions and exited long bets ahead of a monthly government report on Friday that is expected to project swelling supplies. CBOT September so

Published 12 Aug, 2018 12:00am

Indian rice steady; floods may dent Thai, Vietnamese output

Indian rice steady; floods may dent Thai, Vietnamese output

Rice prices in India held steady this week as concerns over lower production due to below-normal rainfall offset sluggish demand in the world's top rice exporter. Prices for India's 5 percent broken parboiled variety were hovering between $392 and $396 pe

Published 12 Aug, 2018 12:00am

Cotton prices slip on moderate trade

Cotton

Cotton prices slip on moderate trade

Slight decline was seen on the cotton market on Saturday in the process of moderate trade activity, dealers said. The official spot rate dropped by Rs 100 to Rs 8900, they added. Prices of seed cotton in Sindh low type shed Rs 100 to Rs 4000 while the bes

Published 12 Aug, 2018 12:00am

Kenya's tea output jumps

Currency

Kenya's tea output jumps

Kenya's tea production jumped by 14 percent in the first six months of this year to 230.99 mln kg from the same period last year, the regulator Tea Directorate said on Thursday. The East African nation is the world's biggest exporter of black tea, one of

Published 12 Aug, 2018 12:00am

CBOT corn futures ease ahead of USDA report

CBOT corn futures ease ahead of USDA report

Chicago Board of Trade (CBOT) corn futures eased on Thursday in a profit-taking and position-squaring setback ahead of a monthly government suppply and demand report due on Friday. CBOT September corn settled down 2 cents at $3.69-1/4 per bushel. New-crop

Published 12 Aug, 2018 12:00am

Brazil boosts sugar, ethanol output in July

Brazil boosts sugar, ethanol output in July

Brazil's center-south produced 2.61 million tonnes of sugar in the second half of July, more than the 2.39 million tonnes produced in the previous two-week period, as the region on Thursday posted another strong fortnight.

Published 12 Aug, 2018 12:00am

Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures fell from a one-month high on Thursday amid technical selling and as some traders locked in profits from earlier long positions, traders said. November canola settled $2.00 lower at $508.70 per tonne, declining after earlier fa

Published 12 Aug, 2018 12:00am

CBOT wheat futures fall on profit taking

CBOT wheat futures fall on profit taking

Chicago Board of Trade (CBOT) wheat futures retreated on Thursday as traders banked profits from the market's recent advance ahead of a government crop report scheduled for release on Friday. CBOT September soft red winter wheat settled 5-1/2 cents lower

Published 12 Aug, 2018 12:00am

Shanghai steel cuts losses, stays near six-year high

Shanghai steel cuts losses, stays near six-year high

Shanghai rebar futures pared losses on Thursday to close near a six-year peak reached in the prior session on expectations further output curbs in China could keep supply tight in the world's top producer. On top of ongoing restrictions at industrial plan

Published 12 Aug, 2018 12:00am

Palm oil down on European vegoils market

Vegetable Oil

Palm oil down on European vegoils market

Palm oil on the European vegetable oils market edged lower on Thursday following the weaker trend in Malaysian palm oil futures on the back of weaker overnight CBOT soyaoil futures and due to profit taking following recent gains.

Published 12 Aug, 2018 12:00am

Ivory Coast cocoa crop developing well; more rain needed

Ivory Coast cocoa crop developing well; more rain needed

Top grower Ivory Coast's cocoa crop is developing well but rainfall was below average last week and needs to pick up to bolster the upcoming main crop harvest, farmers said on Monday. Small and medium-sized pods are plentiful on the trees and soil moistur

Published 12 Aug, 2018 12:00am

Germany's drought-damaged grain harvest likely to cut exports

Germany's drought-damaged grain harvest likely to cut exports

Germany's drought-damaged grain harvest is likely to cut the country's exports and customers may have to be supplied with grain from other regions, leading German agricultural trading group BayWa AG said on Thursday. Germany's 2018 grain harvest will be t

Published 12 Aug, 2018 12:00am

Paris wheat futures fall before USDA report

Paris wheat futures fall before USDA report

Paris wheat futures fell for a second day on Thursday, giving up some of the recent gains fuelled by torrid weather in Europe, while traders awaited fresh direction from US government grain forecasts. Benchmark December milling wheat on Paris-based Eurone

Published 12 Aug, 2018 12:00am

Puerto Rico bondholders agree to debt restructure plan

Puerto Rico bondholders agree to debt restructure plan

Puerto Rico's governor announced Wednesday the island's Washington-established financial oversight board had struck an debt restructuring deal with bondholders that would save $17.5 billion in future payments. Ricardo Rossello's announcement came hours af

Published 12 Aug, 2018 12:00am

Puerto Rico bondholders agree to debt restructure plan

Puerto Rico bondholders agree to debt restructure plan

Puerto Rico's governor announced Wednesday the island's Washington-established financial oversight board had struck an debt restructuring deal with bondholders that would save $17.5 billion in future payments. Ricardo Rossello's announcement came hours af

Published 12 Aug, 2018 12:00am

Foreign funds pummelled by Turkish bond rout, but have yet to exit

Currency

Foreign funds pummelled by Turkish bond rout, but have yet to exit

The Turkish lira's plunge this year has wiped out a third of the value of foreign investors' holdings of lira bonds but data shows there have not yet been net foreign portfolio sales. That may reflect inertia or a lack of liquidity.

Published 12 Aug, 2018 12:00am

Foreign funds pummelled by Turkish bond rout, but have yet to exit

Currency

Foreign funds pummelled by Turkish bond rout, but have yet to exit

The Turkish lira's plunge this year has wiped out a third of the value of foreign investors' holdings of lira bonds but data shows there have not yet been net foreign portfolio sales. That may reflect inertia or a lack of liquidity.

Published 12 Aug, 2018 12:00am

Japanese investors sold US and German bonds, bought French debt

Japanese investors sold US and German bonds, bought French debt

Japanese investors sold US bonds in June amid expectations of steady interest rate hikes in the United States, while offloading low-yielding German debt, government data showed on Wednesday. The investors sold a net 455.8 billion yen ($4.09 billion) of US

Published 12 Aug, 2018 12:00am

Japanese investors sold US and German bonds, bought French debt

Japanese investors sold US and German bonds, bought French debt

Japanese investors sold US bonds in June amid expectations of steady interest rate hikes in the United States, while offloading low-yielding German debt, government data showed on Wednesday. The investors sold a net 455.8 billion yen ($4.09 billion) of US

Published 12 Aug, 2018 12:00am

FTSE Russell may give mainland China stocks more weighting than MSCI

FTSE Russell may give mainland China stocks more weighting than MSCI

Index provider FTSE Russell could give a greater weighting to mainland Chinese stocks than rival MSCI if it decides to include them in its flagship indices next month, its chief executive told Reuters. MSCI this year became the first index provider to for

Published 12 Aug, 2018 12:00am

Philippines returns to samurai bond market after eight years

Philippines returns to samurai bond market after eight years

The Philippines has sold $1.38 billion in yen-denominated bonds, with strong investor demand for its return to the market for so-called 'samurai' debt after an eight-year break, the country's finance ministry said on Wednesday. That was more than the $1 b

Published 12 Aug, 2018 12:00am

Philippines returns to samurai bond market after eight years

Philippines returns to samurai bond market after eight years

The Philippines has sold $1.38 billion in yen-denominated bonds, with strong investor demand for its return to the market for so-called 'samurai' debt after an eight-year break, the country's finance ministry said on Wednesday. That was more than the $1 b

Published 12 Aug, 2018 12:00am

Treasuries outlook: US bond market rallies on fears about Turkey

Currency

Treasuries outlook: US bond market rallies on fears about Turkey

The US Treasury debt market rang up its best day in more than two months as investors scooped up low-risk government debt on anxiety about Turkey's financial problems spreading to other emerging economies and lenders exposed to the sector.

Published 12 Aug, 2018 12:00am

Treasuries outlook: US bond market rallies on fears about Turkey

Currency

Treasuries outlook: US bond market rallies on fears about Turkey

The US Treasury debt market rang up its best day in more than two months as investors scooped up low-risk government debt on anxiety about Turkey's financial problems spreading to other emerging economies and lenders exposed to the sector.

Published 12 Aug, 2018 12:00am

Emerging market turmoil boosts safe-haven eurozone debt, Italy suffers

Emerging market turmoil boosts safe-haven eurozone debt, Italy suffers

Most eurozone bond yields fell on Friday, with German borrowing costs at three-week lows as turmoil in major emerging markets Turkey and Russia boosted demand for safe-haven government debt. The exception was Italy. Its bond yields, already pushed up by c

Published 12 Aug, 2018 12:00am

Emerging market turmoil boosts safe-haven eurozone debt, Italy suffers

Emerging market turmoil boosts safe-haven eurozone debt, Italy suffers

Most eurozone bond yields fell on Friday, with German borrowing costs at three-week lows as turmoil in major emerging markets Turkey and Russia boosted demand for safe-haven government debt. The exception was Italy. Its bond yields, already pushed up by c

Published 12 Aug, 2018 12:00am

Sonos Inc jumps as much as 23 percent in debut

Sonos Inc jumps as much as 23 percent in debut

Shares of Sonos Inc rose as much as 34 percent to $20.20 in their market debut on Thursday, at which the US wireless audio systems maker has a market value of nearly $1.9 billion. The stock opened at $16, about 7 percent above the initial public offering

Published 12 Aug, 2018 12:00am

Sonos Inc jumps as much as 23 percent in debut

Sonos Inc jumps as much as 23 percent in debut

Shares of Sonos Inc rose as much as 34 percent to $20.20 in their market debut on Thursday, at which the US wireless audio systems maker has a market value of nearly $1.9 billion. The stock opened at $16, about 7 percent above the initial public offering

Published 12 Aug, 2018 12:00am

Investors stick to US stocks, no more 'raging bull'

Mutual Funds

Investors stick to US stocks, no more 'raging bull'

Investors stuck a modest $5 billion into equities over the past week, with US funds leading inflows, Bank of America Merrill Lynch (BAML) said on Friday, adding that world stock markets had gone from being a "raging bull to a sitting bull". Rising trade p

Published 12 Aug, 2018 12:00am

Wall Street ends lower as Turkey woes hit banks

Wall Street ends lower as Turkey woes hit banks

US stocks slid on Friday as a deepening economic crisis in Turkey dragged on bank shares and triggered a move out of riskier assets. The Dow and S&P 500 posted declines for the week following five straight weeks of gains, but the S&P 500 remains just 1.4

Published 12 Aug, 2018 12:00am

Troubled UK retailer House of Fraser facing collapse

Troubled UK retailer House of Fraser facing collapse

House of Fraser, the Chinese-owned UK department store chain, said Friday that it is set to enter administration, potentially becoming the latest big name to vanish from the high street. The 169-year-old company joins a string of major British retailers t

Published 12 Aug, 2018 12:00am

Investors sue Tesla's Musk over go-private tweets

Investors sue Tesla's Musk over go-private tweets

Two investors filed suit against Tesla CEO Elon Musk and the electric car company after he tweeted he wanted to take the firm private, causing the share price to inflate and short-selling investors to lose millions.

Published 12 Aug, 2018 12:00am

Saudi Arabia's PIF has shown no interest in bankrolling

Saudi Arabia's PIF has shown no interest in bankrolling

Saudi Arabia's Public Investment Fund (PIF) has shown no interest so far in financing Tesla Inc CEO Elon Musk's proposed $72 billion deal to take the US electric car maker private, despite acquiring a minority stake in the company this year, two sources f

Published 12 Aug, 2018 12:00am

Kenya arrests two top officials for suspected corruption

Kenya arrests two top officials for suspected corruption

Kenyan authorities have arrested the head of the agency that manages public land and the boss of the state railway on suspicion of corruption over land allocation for the new $3-billion flagship Nairobi-Mombasa railway. The line connecting the capital wit

Published 12 Aug, 2018 12:00am

Kazakh leader touts port on China's 'Silk Road'

Kazakh leader touts port on China's 'Silk Road'

Kazakh leader Nursultan Nazarbayev on Saturday hailed a newly modernised Caspian Sea port which the ex-Soviet country hopes will link up to China's massive "Belt and Road" infrastructure project. Speaking at the Caspian port of Kuryk, 78-year-old Nazarbay

Published 12 Aug, 2018 12:00am

Jet Airways says meeting all payment obligations

Jet Airways says meeting all payment obligations

Indian carrier Jet Airways Ltd sought to reassure investors on Saturday, saying it is meeting its payment obligations to lenders and other dues, such as staff commitments. India's biggest-full service airline issued the statement a day after its shares fe

Published 12 Aug, 2018 12:00am

Qatar's QIA raises stake in Credit Suisse to 5.21 percent

Qatar's QIA raises stake in Credit Suisse to 5.21 percent

Qatar's sovereign wealth fund, the Qatar Investment Authority, has increased its stake in Swiss bank Credit Suisse to 5.21 percent, the Qatar state news agency QNA said on Saturday. "Qatar Investment Authority (QIA) has become the largest investor in Swit

Published 12 Aug, 2018 12:00am

US tells China's HNA to sell stake in NYC building near Trump Tower

US tells China's HNA to sell stake in NYC building near Trump Tower

The US government has ordered Chinese conglomerate HNA Group Co Ltd to sell its majority stake in a Manhattan building whose tenants include a police precinct tasked with protecting Trump Tower, the Wall Street Journal reported on Friday. The Committee on

Published 12 Aug, 2018 12:00am

Key Iran council backs anti-money laundering move

Key Iran council backs anti-money laundering move

A top Iranian constitutional body has approved measures passed by parliament to bring the country more into line with global money-laundering norms, state media said on Saturday, as Tehran tries to attract investments despite the reimposition of US sancti

Published 12 Aug, 2018 12:00am

News Corp tops estimates as Foxtel, books unit drive gains

News Corp tops estimates as Foxtel, books unit drive gains

News Corp topped Wall Street profit targets on Thursday, as it benefited from gains at its newly acquired TV network and recorded double-digit growth in its real-estate listings and book publishing businesses. News Corp's subscription video services divis

Published 12 Aug, 2018 12:00am

Cheniere signs 25-year LNG sales deal with Taiwan's CPC

Cheniere signs 25-year LNG sales deal with Taiwan's CPC

US liquefied natural gas (LNG) company Cheniere Energy Inc said on Friday it had signed a 25-year deal to supply Taiwan's CPC Corp, which CPC valued at roughly $25 billion. Cheniere said it will sell 2 million tonnes of LNG per year on a delivered basis t

Published 12 Aug, 2018 12:00am

China's CNPC takes over Total's share in big Iran gas project

China's CNPC takes over Total's share in big Iran gas project

China's state-owned energy major CNPC has taken over the share in Iran's multi-billion dollar South Pars gas project held by France's Total, the Iranian state news agency IRNA reported on Saturday. Total signed a contract in 2017 to develop Phase II of So

Published 12 Aug, 2018 12:00am

Serbia's central bank buys euros

Serbia's central bank buys euros

Serbia's central bank purchased euros on local inter-bank market on Tuesday to tame gains of the dinar, dealers said. The bank, which so far this year bought 1.6 billion euros, intervened as the dinar traded at the rate of 117.9 to euro. After the euro pu

Published 12 Aug, 2018 12:00am

Canadian dollar hits two-week low

Currency

Canadian dollar hits two-week low

The Canadian dollar weakened to a more than two-week low against the greenback on Friday as the threat of an economic crisis in Turkey spreading to other countries rattled global financial markets, offsetting stronger-than-expected domestic jobs data. A p

Published 12 Aug, 2018 12:00am

African currencies week ahead: Kenyan shilling to firm, Ghana cedi to hold stable

Currency

African currencies week ahead: Kenyan shilling to firm, Ghana cedi to hold stable

Kenya's shilling is expected to gain ground against the dollar in the week to next Thursday, while Zambia's kwacha is forecast to weaken, traders said.

Published 12 Aug, 2018 12:00am

Sudanese pound strengthens on black market

Currency

Sudanese pound strengthens on black market

The Sudanese pound strengthened on the black market on Wednesday on optimism that oil supplies from South Sudan could resume following a peace deal between the warring sides in the country, and some traders expected a further improvement. The pound was tr

Published 12 Aug, 2018 12:00am

Bearish bets on most Asian currencies recede slightly

Currency

Bearish bets on most Asian currencies recede slightly

Investors trimmed bearish bets on most emerging Asian currencies over the last two weeks, as renewed trade war concerns were cushioned by regional central bank efforts to shore up their currencies, a Reuters poll showed. Central banks across the globe ado

Published 12 Aug, 2018 12:00am

Euro tumbles as investors fear bank exposure to Turkey

Currency

Euro tumbles as investors fear bank exposure to Turkey

The euro sank to its lowest against the greenback in more than a year on Friday as a plunging Turkish lira sparked broad risk aversion, with investors worried about a contagion effect on European banks. Turkey's lira plummeted as much as 18 percent on Fri

Published 12 Aug, 2018 12:00am

FX volumes edge higher

Currency

FX volumes edge higher

Currency trading volumes rose 2.6 percent in July on last year, CLS data showed on Wednesday, although July's volumes were 13.7 percent lower than the previous month of June. CLS, a major settler of trades in the foreign exchange market, said in a stateme

Published 12 Aug, 2018 12:00am

US net long dollar bets rise to highest since mid-January 2017

Currency

US net long dollar bets rise to highest since mid-January 2017

Speculators boosted their net long US dollar position this week to the largest since mid-January last year, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position wa

Published 12 Aug, 2018 12:00am

South Africa's rand weakens

South Africa's rand weakens

South Africa's rand slipped nearly 3 percent on Friday, slumping to its weakest level in more than 8 months in line with emerging market assets as global trade tension sparked selling pressure. At 1352 GMT, the rand traded 2.7 percent weaker at 14.0700 pe

Published 12 Aug, 2018 12:00am

Rouble, caught in 'perfect storm', sinks to lowest since mid-2016

Currency

Rouble, caught in 'perfect storm', sinks to lowest since mid-2016

The Russian rouble sank to its lowest level since early June 2016 on Friday, battered by concerns over the impact of new US sanctions, falling oil prices and a broadly stronger dollar. The rouble briefly hit 67.67 against the dollar, losing around 6 perce

Published 12 Aug, 2018 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 31	278.42
USD PKR Interbank Buying / May 31	278.22
USD to Japanese Yen / May 31	157.31
USD to Swiss Franc / May 31	0.90
Pound Sterling to USD / May 31	1.27
Euro to USD / May 31	1.08

Stock	Volume
S&P 500 / May 31	5277.51
India Sensex / May 31	73961.31
Tokyo Nikkei / May 31	38487.90
Nasdaq / May 31	16735.02
Hang Seng / May 31	18079.61
FTSE 100 / May 31	8275.38
Dow Jones / May 31	38686.32
Germany DAX 30 / May 31	18497.94

Item	Value
Crude Oil USD/Barrel / May 31	76.99
Karachi Cotton PKR/37.32 KG / May 31	19935
Gold 10 Grams PKR / May 31	207219
Gold Spot USD/Ounce / May 31	2327.33
Cotton US¢/pound / May 31	75.11
Petrol/Litre / Jun 1	268.36

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Jun 1 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jun 1 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jun 1 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jun 1 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jun 1 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jun 1 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jun 1 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jun 1 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jun 1 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jun 1 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jun 1 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jun 1 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jun 1 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jun 1 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jun 1 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jun 1 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jun 1 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jun 1 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jun 1 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jun 1 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jun 1 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jun 1 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jun 1 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jun 1 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jun 1 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jun 1 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jun 1 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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