News Archives for Print - 2019-06-26

Japanese shares retreated on Tuesday as the combination of the yen's rise to a near six-month high versus the dollar and brewing US-Iran tensions hit exporters and curbed risk appetite. The Nikkei ended the day down 0.43% at 21,193.81. Of Tokyo's 33 sub-i

Published 26 Jun, 2019 12:00am

New Zealand reaches fresh record

Australian shares closed slightly lower on Tuesday in thin trading as caution prevailed ahead of a meeting between US President Donald Trump and Chinese President Xi Jinping late this week. The S&P/ASX 200 index slipped 0.1% to 6,658. On Monday, it rose 0

Published 26 Jun, 2019 12:00am

Saudi stocks end losing streak, Iran sanctions weigh on most of Gulf

Saudi Arabia's stock market snapped a four-day losing streak in late wave of buying on Tuesday, while other major Middle East bourses dropped after the United States imposed sanctions on Iran's leadership.

Published 26 Jun, 2019 12:00am

Tuesday's late afternoon trade: Wall Street drops on trade worries, Powell's speech

Wall Street lost ground on Tuesday as simmering trade concerns, combined with disappointing economic data, sent buyers to the sidelines, where they remained after Federal Reserve Chair Jerome Powell pushed back on pressure from Presideent Donald Trump to

Published 26 Jun, 2019 12:00am

Exchange

S&P 500 slips as healthcare drags, G20 summit eyed

The S&P 500 edged lower on Monday as losses by healthcare companies overshadowed gains in the technology sector, while investors awaited US President Donald Trump's meeting with Chinese President Xi Jinping at the G20 summit this week.

Published 26 Jun, 2019 12:00am

Treasury yields fall as US-China trade talks in focus

US Treasury yields fell on Monday, holding just above almost three-year lows, ahead of trade talks between the US and China later this week. Investors are focused on whether US President Donald Trump and Chinese President Xi Jinping can de-escalate the tr

Published 26 Jun, 2019 12:00am

Treasury yields fall as US-China trade talks in focus

Published 26 Jun, 2019 12:00am

China shares down on profit-taking, trade worries

Chinese shares ended lower on Tuesday, snapping a six-day streak of gains, as investors locked in profits, while concerns that China and the United States would make little headway toward resolving their bitter trade war this week also hurt sentiment.

Published 26 Jun, 2019 12:00am

European shares slip, Capgemini-Altran deal buoys tech index

European shares extended losses to a third day on Tuesday amid rising US-Iranian tensions and anxiety over Sino-US trade, but strong gains by Capgemini and Altran on a multi-billion-euro takeover deal helped cap losses.

Published 26 Jun, 2019 12:00am

Indian shares up

Indian shares snapped two-day losing streak to close higher on Tuesday, led by index heavyweight Reliance Industries Ltd and steel stocks such as JSW Steel Ltd. The shares dilly-dallied between lows and highs during the day as investors took caution ahead

Published 26 Jun, 2019 12:00am

Currency

Most Southeast Asian stocks subdued; Indonesia climbs

Most Southeast Asian stock markets traded sideways on Tuesday, as investors remained wary ahead of a crucial meeting between US President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the G20 summit.

Published 26 Jun, 2019 12:00am

FTSE 100 edged up as gains in miners, oil offset global angst

London's FTSE 100 eked out modest gains on the back of strength in mining companies and oil stocks on Tuesday, alleviating some anxiety after the United States imposed more sanctions on Tehran and before Sino-US trade talks this week. The FTSE 100 erased

Published 26 Jun, 2019 12:00am

French restaurant run by Argentine chef crowned world's best

French restaurant Mirazur run by Argentine chef Mauro Colagreco was Tuesday crowned the world's best restaurant at an awards ceremony put on by British trade magazine Restaurant. In second spot in the World's 50 Best Restaurants was Noma in Copenhagen, an

Published 26 Jun, 2019 12:00am

Egypt raids businesses over funding plot

Egyptian authorities raided 19 businesses Tuesday allegedly tied to the Muslim Brotherhood and accused of funding a plot to overthrow the state, the interior ministry said. Footage broadcast on Egyptian television showed police officers raiding the firms

Published 26 Jun, 2019 12:00am

Exchange

FedEx sues US government over shipment restrictions

American logistics giant FedEx sued the US government on Monday, saying Washington's restrictions on exports and imports due to growing trade disputes and sanctions created an "impossible burden" for delivery firms. The announcement of the lawsuit comes a

Published 26 Jun, 2019 12:00am

Russia leads as top crude supplier to China, overtakes Saudi Arabia

Russia became the largest crude oil supplier to China in May, supported by robust demand from private refiners and alongside a fall in supplies from Iran. Imports from Russia came in at 6.36 million tonnes in May, or 1.50 million barrels per day (bpd), da

Published 26 Jun, 2019 12:00am

Nissan shareholders approve post-Ghosn governance overhaul

Nissan shareholders Tuesday approved an overhaul intended to strengthen governance at the crisis-hit Japanese automaker, still reeling from the Carlos Ghosn scandal and facing tensions with its French partner Renault. Shareholders voted in favour of a ser

Published 26 Jun, 2019 12:00am

Fed 'grappling' with need for rate cut: Powell

America's grinding trade wars are darkening the economic horizon and could justify a decrease in interest rates, Federal Reserve Chairman Jerome Powell said Tuesday. "The question my colleagues and I are grappling with is whether these uncertainties will

Published 26 Jun, 2019 12:00am

UN expert calls for 'moratorium' on spy technology sales

A UN expert called Tuesday for "an immediate moratorium" on sales of surveillance technology until rules are established to stop companies selling products that help states violate human rights. While companies that export weapons are generally subjected

Published 26 Jun, 2019 12:00am

AbbVie to buy Botox maker Allergan for $63 billion

US biopharmaceutical company AbbVie said Tuesday it would buy Botox-maker Allergan for about $63 billion, moving to diversify its product line as the industry faces pressure on drug prices. The deal, the latest large transaction in pharma, broadens the pr

Published 26 Jun, 2019 12:00am

Alphabet unveils vision for high technology Toronto waterfront project

Sidewalk Labs, a subsidiary of Google parent-company Alphabet Inc., on Monday officially unveiled its plan for a massive technology-driven neighborhood on Toronto's waterfront that it hopes will become a blueprint for the future, but which has already gen

Published 26 Jun, 2019 12:00am

US consumer confidence dives, trade tensions hurting economy

US consumer confidence tumbled to a 21-month low in June as households grew a bit more pessimistic about business and labour market conditions amid concerns about a recent escalation in trade tensions between the United States and China.

Published 26 Jun, 2019 12:00am

Two Russian biathletes banned

Russian biathletes Alexandr Pechenkin and Alexander Chernyshov were each banned for four years on Tuesday for doping violations linked to a state-run doping scheme, the International Biathlon Federation said.

Published 26 Jun, 2019 12:00am

£778 million budget passed for Birmingham Commonwealth Games

The British government voted a budget of £778 million ($990 million) for the 2022 Commonwealth Games in Birmingham on Tuesday, double the amount contributed when the event was held in Glasgow five years ago. The Games, in which 5,000 athletes from 71 nati

Published 26 Jun, 2019 12:00am

Azhar questions NZ toughness ahead of World Cup clash

Pakistan bowling coach Azhar Mahmood questioned New Zealand's ability to win the biggest matches ahead of Wednesday's World Cup clash in Birmingham. Kane Williamson's side are undefeated at the tournament in England and Wales, with five wins in six games,

Published 26 Jun, 2019 12:00am

Miandad wants a formidable game plan

Pakistan cricket team would have to look into its darkest area which is poor fielding, before going into the field in the World Cup against New Zealand at Edgbaston on Wednesday (today).

Published 26 Jun, 2019 12:00am

Australia crush England to reach World Cup semi-finals

Australia captain Aaron Finch hit a hundred before left-arm quicks Jason Behrendorff and Mitchell Starc shared nine wickets as the reigning champions thumped England by 64 runs at Lord's on Tuesday to book their place in the semi-finals of the World Cup.

Published 26 Jun, 2019 12:00am

Antetokounmpo named NBA Most Valuable Player

Milwaukee Bucks star forward Giannis Antetokounmpo was named the NBA's Most Valuable Player for the 2018-19 regular season on Monday.

Published 26 Jun, 2019 12:00am

Paraguay through to Copa quarters

Paraguay became the final qualifiers for the Copa America quarter-finals without even playing on Monday as the two teams who could deny them, Japan and Ecuador, drew 1-1 in Belo Horizonte.

Published 26 Jun, 2019 12:00am

USA and Sweden reach World Cup quarters

Megan Rapinoe scored two penalties as defending champions the United States beat Spain on Monday to set up a mouthwatering quarter-final against hosts France at the women's World Cup, with Sweden joining them in the last eight. On another day in the limel

Published 26 Jun, 2019 12:00am

Currency

Dollar multi-month low in Asia

The dollar hit a multi-month low against the euro and the yen on Tuesday on the prospects of monetary easing by the Federal Reserve while the safe-haven Swiss franc and gold rose on Middle East tensions. The euro hit a three-month high of $1.14105, having

Published 26 Jun, 2019 12:00am

Exchange

Dollar sags to new lows against euro, yen in Europe

The US dollar fell to a three-month low against the euro and dropped to its weakest against the Japanese yen since early January as the prospect of monetary easing by the Federal Reserve knocked demand for the US currency. The euro hit a three-month high

Published 26 Jun, 2019 12:00am

Currency

Early trade in New York: Bets on rate cuts keep dollar on defense

The dollar slipped against most major currencies on Tuesday, hitting a three-month low versus the euro, as expectations of multiple decreases of US interest rates by the Federal Reserve have spurred selling of the US currency.

Published 26 Jun, 2019 12:00am

Exchange

Dollar softens against basket of currencies in New York

The dollar softened against a basket of currencies on Monday on bets the US Federal Reserve may lower interest rates more than once this year, while tensions between Iran and the United States provided safe-haven support for the yen.

Published 26 Jun, 2019 12:00am

Exchange

Tanzania issues new rules to tighten forex controls

Tanzania has tightened its currency controls with new regulations on foreign exchange bureaus, in what authorities say is an ongoing fight against money laundering and currency speculation.

Published 26 Jun, 2019 12:00am

Currency

Asian units underpinned by Sino-US optimism

Most Asian currencies rose on Tuesday as talks between top US and Chinese trade officials supported appetite for emerging market assets, although investors were still skittish ahead the meeting between Donald Trump and Xi Jinping later this week. Dialogue

Published 26 Jun, 2019 12:00am

Exchange

Aussie, kiwi rally for 6th day

The Australian and New Zealand dollars were on track for a sixth straight session of gains on Tuesday against a US dollar weakened by expectations for an aggressive cut in interest rates by the Federal Reserve next month. The Australian dollar climbed to

Published 26 Jun, 2019 12:00am

Currency

No-deal Brexit fears keep sterling subdued

Sterling weakened against the dollar after hitting its highest in a month on Tuesday as the risk of a no-deal Brexit stemming from the Conservative Party leadership contest weighed on the currency. The pound has been supported to some extent by last week'

Published 26 Jun, 2019 12:00am

Exchange

Brazilian real falls, dollar lifts other Latam forex

The Brazilian real dipped on Tuesday on worries about the country's economy and pension reform plans, while other Latin American currencies rose against a weaker dollar. The Brazilian real edged lower for a second day, while the Mexican peso hovered near

Published 26 Jun, 2019 12:00am

Exchange

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,975. The traded value of Metals, Energy and COTS/FX was recorded at PKR 14.993 billion and the number of lots traded 11,594.

Published 26 Jun, 2019 12:00am

Asia's naphtha gains; gasoline at one-month high

Asia's naphtha crack edged up to a three-session high of $24.68 a tonne on Monday, while gasoline margin rose to a one-month high of $3.89 a barrel supported by supply disruptions in the US. Gasoline supply from the US East Coast's largest refinery Philad

Published 26 Jun, 2019 12:00am

CBOT soyabean futures climb

Chicago Board of Trade (CBOT) soyabean futures climbed on Monday as rainy US Midwest weather threatened to further stall soya planting progress, traders said. Traders are building a risk premium into the market ahead of the US Department of Agriculture (U

Published 26 Jun, 2019 12:00am

EU wheat prices rise as hot spell takes hold in Europe

European wheat prices rose on Monday as a heatwave set to last all week in western Europe raised the risk of yield losses although good crop development in many regions was likely to limit damage, traders said. Front month September milling wheat on Paris

Published 26 Jun, 2019 12:00am

Exchange

China steel futures surge as demand picks up

China steel futures surged on Monday, with construction material rebar hitting a near eight-year high and hot-rolled coil climbing to an all-time peak, as demand picked up while output restrictions have been extended to reduce air pollution.

Published 26 Jun, 2019 12:00am

Activities at Karachi and Port Qasim

The Karachi Port handled 112,360 tonnes of cargo comprising 73,443 tonnes of import cargo and 38,917 tonnes of export cargo including 7,646 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.

Published 26 Jun, 2019 12:00am

Cotton

Spot rate sharply down on cotton market

Official spot rate was sharply down on the cotton market on Tuesday in the process of modest trading activity, dealers said. The official spot rate dropped by Rs 200 to Rs 8500, they added. In ready session, 1200 bales of cotton changed hands between Rs 8

Published 26 Jun, 2019 12:00am

European gasoline margins hit two-week high

Northwest European gasoline refining margins rose to a two-week high of $8.86 on Monday, supported by a fire at a major US East Coast refinery. Philadelphia Energy Solutions hopes to begin restart of the 868 FCC unit at the Point Breeze section of the Phi

Published 26 Jun, 2019 12:00am

CBOT wheat futures jump on global crop concerns

Chicago Board of Trade (CBOT) wheat futures rallied more than 2% on Monday on global crop concerns due to a heat wave in Europe and excessive harvest-time rains in the US wheat belt, traders said. CBOT July soft red winter wheat settled up 12 cents at $5.

Published 26 Jun, 2019 12:00am

Critics hit out at millions spent on Harry and Meghan's home

Prince Harry and his wife Meghan's new home in Windsor cost £2.4 million ($3.05 million, 2.7 million euros) of taxpayers' money to renovate, royal accounts showed Tuesday, prompting criticism from anti-monarchy campaigners.

Published 26 Jun, 2019 12:00am

Sri Lanka police overturn local council ban on Muslims

Sri Lanka's police Tuesday stepped in to prevent a local council from banning Muslim traders from a weekly fair in another backlash from the devastating Easter attacks blamed on Islamic extremists. The local government body had ordered minority Muslims no

Published 26 Jun, 2019 12:00am

In legal first, court faults France over air pollution

A court on Tuesday found the French state had failed to take sufficient steps to limit air pollution around Paris, a legal first in the country hailed by environmental campaigners as a victory for victims of dirty air.

Published 26 Jun, 2019 12:00am

Pompeo hopes for Afghan peace deal 'before September 1'

US Secretary of State Mike Pompeo said Tuesday he hopes for a peace deal with the Taliban "before September 1", speaking as he made his first visit to Kabul since Washington launched talks with the insurgents last year. Pompeo met with President Ashraf Gh

Published 26 Jun, 2019 12:00am

Mexico will not detain migrants at US border: president

Mexico's president said Tuesday the 15,000 troops his government has deployed to the US border do not have orders to stop migrants from crossing, and vowed to investigate a controversial detention last week.

Published 26 Jun, 2019 12:00am

US border chief quits

The chief US customs and border enforcement official is stepping down amid an uproar over the treatment of migrant children detained along the border with Mexico, US media reported Tuesday. John Sanders will resign as acting commissioner of the Customs an

Published 26 Jun, 2019 12:00am

Kyrgyzstan charges ex-president with corruption

Kyrgyzstan's prosecutors charged a former president with corruption on Tuesday, paving the way for parliament to lift his immunity as a protracted power struggle threatens to roil the fragile ex-Soviet state. The state prosecutor's office said it had sent

Published 26 Jun, 2019 12:00am

IS head in Yemen captured by special forces

Saudi and Yemeni special forces have captured the head of the Islamic State group's branch in Yemen, the Saudi-led military coalition backing the country's government announced Tuesday. The leader identified as Abu Osama al-Muhajir was caught in an early

Published 26 Jun, 2019 12:00am

Exchange

Trump makes Melania spokeswoman new White House press secretary

President Donald Trump on Tuesday named Stephanie Grisham - until now spokeswoman for his wife Melania - the chief White House press secretary, taking over an office that has seen sharply deteriorating relations with the media.

Published 26 Jun, 2019 12:00am

Drone sightings disrupt Singapore flights for second time

Drone sightings have disrupted flights at Singapore's main airport for the second time in a week, authorities said, as the devices increasingly cause havoc for air traffic worldwide.

Published 26 Jun, 2019 12:00am

Hacker used $35 computer to steal restricted NASA data

A hacker used a tiny Raspberry Pi computer to infiltrate NASA's Jet Propulsion Laboratory network, stealing sensitive data and forcing the temporary disconnection of space-flight systems, the agency has revealed. The April 2018 attack went undetected for

Published 26 Jun, 2019 12:00am

Nato prepares 'defensive' response to Russia arms treaty breach

Nato will this week decide how to respond to Russia's violation of a key Cold War arms treaty, alliance chief Jens Stoltenberg said Tuesday, insisting any measures would be defensive.The Intermediate-Range Nuclear Forces (INF) treaty is expected to formal

Published 26 Jun, 2019 12:00am

Cotton

Cotton prices unchanged ahead of acreage report, US-China talks

ICE cotton futures were largely unchanged on Tuesday, as the market awaited more information from the plantings acreage report and the meeting between Washington and Beijing at the Group of 20 Summit due later this week. The most-active cotton contract on

Published 26 Jun, 2019 12:00am

Exchange

Copper hits one-month high as Chile strike underlines deficit

Copper prices reached a one-month high on Tuesday as a strike at a major mine in Chile underlined a supply shortfall, although investors were on edge ahead of US-China trade talks later this week. Benchmark copper on the London Metal Exchange (LME) ended

Published 26 Jun, 2019 12:00am

Oil prices mixed ahead of US crude stock data

Oil prices were mixed on Tuesday ahead of data expected to show US crude stocks declining, outweighing investors' concerns that US-China trade tensions could dampen fuel demand. Benchmark Brent crude futures settled up 19 cents, or 0.3%, at $65.05 a barre

Published 26 Jun, 2019 12:00am

Exchange

Tokyo rubber falls for fourth session

Tokyo Commodity Exchange (TOCOM) futures fell to a 3-week low on Tuesday, extending losses into a fourth straight session, as the yen's rise to a near six-month high versus the dollar prompted fresh selling. The benchmark TOCOM rubber contract for new Dec

Published 26 Jun, 2019 12:00am

Exchange

Palm oil tumbles on lacklustre export data

Malaysian palm oil futures slid on Tuesday, logging a fourth consecutive session of declines, as lacklustre export data and softer soyaoil prices kept a lid on sentiment. The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange was down

Published 26 Jun, 2019 12:00am

Coffee prices jump on Brazilian cold weather worry

Arabica coffee futures on ICE surged on Tuesday to a three-week high as concerns about cold weather in top-grower Brazil helped lift prices through key technical levels, while raw sugar also climbed. September arabica coffee settled up 4.45 cent, or 4.3%,

Published 26 Jun, 2019 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 3	278.23
USD PKR Interbank Buying / May 3	278.03
USD to Japanese Yen / May 3	152.98
USD to Swiss Franc / May 3	0.91
Pound Sterling to USD / May 3	1.26
Euro to USD / May 3	1.07

Stock	Volume
S&P 500 / May 1	5018.39
Nasdaq / May 1	15605.48
Dow Jones / May 1	37903.29
Tokyo Nikkei / May 2	38236.07
India Sensex / May 3	74412.88
Hang Seng / May 3	18417.07
FTSE 100 / May 3	8208.23
Germany DAX 30 / May 3	17993.66

Item	Value
Karachi Cotton PKR/37.32 KG / May 2	20000
Crude Oil USD/Barrel / May 3	79.12
Gold 10 Grams PKR / May 3	205418
Gold Spot USD/Ounce / May 3	2308.69
Cotton US¢/pound / May 3	75.94
Petrol/Litre / May 4	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 4 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 4 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 4 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 4 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 4 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 4 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 4 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 4 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 4 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 4 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 4 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 4 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 4 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 4 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 4 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 4 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 4 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 4 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 4 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 4 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 4 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 4 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 4 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 4 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 4 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 4 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 4 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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