News Archives for Print - 2019-07-16

Dalian iron ore ended a wobbly session flat on Friday as output restrictions in some of China's steel hubs dimmed demand prospects for the raw material, but lingering supply concerns drove the commodity to its best week since around mid-June. Other steelm

Published 16 Jul, 2019 12:00am

Canadian canola futures rise

ICE Canadian canola futures rose on Friday, following a rally in the soyabean market amid a lack of fresh fundamental news, traders said. Most-active November canola gained $3.50 to $450.70 per tonne. The contract settled above its 10-day moving average f

Published 16 Jul, 2019 12:00am

Gold buying stalls in top Asian hubs this week

Physical gold buying stalled in top Asian hubs this week as consumers sold back bullion to cash in on a steep price rally, while a recent import duty hike further dented waning interest in an Indian market hit by a surge in local rates. Global benchmark s

Published 16 Jul, 2019 12:00am

CBOT corn futures rise

Chicago Board of Trade corn futures rose on Friday, lifted by forecasts for potentially stressful hot weather in the US Corn Belt next week, along with technical buying as the September and December contracts set two-week highs, traders said. CBOT Septemb

Published 16 Jul, 2019 12:00am

Currency

Indian rice prices rise on stronger rupee

Rice export prices in India extended gains this week helped by a stronger rupee, while expectations of fresh supplies entering the market weighed on Thai rates along with muted demand across major paddy-growing countries. Thailand's benchmark 5-percent br

Published 16 Jul, 2019 12:00am

Cotton

Firmness prevails on cotton market

Firmness prevailed on the cotton market on Monday in the process of slow trading activity, dealers said. The official spot rate was unchanged at Rs 8300, they added. In ready session, around 1000 bales of cotton changed hands between Rs 8350-8450, they sa

Published 16 Jul, 2019 12:00am

Exchange

PMEX daily trading report

On Friday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,055. The traded value of Metals, Energy and COTS/FX was recorded at PKR 8.059 billion and the number of lots traded 10,103. Major business was contributed by gold amountin

Published 16 Jul, 2019 12:00am

CBOT wheat higher from early declines

Chicago Board of Trade wheat futures closed higher on Friday, rallying from early declines on spillover strength from corn and soybean futures, traders said. CBOT September soft red winter wheat settled up 1-1/2 cents at $5.23 per bushel. For the week, th

Published 16 Jul, 2019 12:00am

Strategie Grains cut EU wheat crop forecast

Strategie Grains cut its monthly forecast for this year's European Union soft wheat harvest by more than 2 million tonnes as it factored in a late-June heatwave in western Europe. Analysts at the consultancy pegged 2019 EU soft wheat production at 140.6 m

Published 16 Jul, 2019 12:00am

Colombia to create fund to rescue coffee farmers

Colombia, the world's top supplier of washed arabica, is creating a special fund to subsidize coffee farmers when international prices fall below production costs. The stabilization fund, announced by President Ivan Duque late on Thursday, is the country'

Published 16 Jul, 2019 12:00am

Vietnamese coffee prices marginally lower

Vietnamese domestic coffee prices were marginally lower on Thursday from a week earlier, with trading activity expected to remain muted until the next harvest that will begin in October. Farmers in the Central Highlands sold coffee at 34,500-35,000 dong (

Published 16 Jul, 2019 12:00am

Black Sea wheat exports seen rising in 2019-20

Wheat exports from Russia, Ukraine and Kazakhstan will rise 4% in the 2019/20 marketing season, a Reuters poll showed, as June's heatwave failed to offset favourable weather in the winter, signalling tough competition with the European Union.

Published 16 Jul, 2019 12:00am

Activities at Karachi and Port Qasim

The Karachi Port handled 141,588 tonnes of cargo comprising 100,333 tonnes of import cargo and 41,255 tonnes of export cargo including 4,820 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargos of 10

Published 16 Jul, 2019 12:00am

Brazil's frosts hit coffee, sugarcane output regions

Frosts were reported in several agricultural areas in Brazil over the weekend, including coffee and sugarcane production regions, and cooperatives and companies expected some impact as they assessed the situation. Cane, coffee, late-planted winter corn an

Published 16 Jul, 2019 12:00am

China's June copper imports fall

China's unwrought copper imports in June fell 27.2% from a year earlier, official data showed on Friday, as a slowdown in the world's second-biggest economy continues to weigh on demand for the metal. Arrivals of unwrought copper, including anode, refined

Published 16 Jul, 2019 12:00am

Saudi index extends gains, other Gulf markets ease

Saudi Arabia's stock market rose for a sixth day with banks leading the rally on the back of a positive earnings outlook, while most other Gulf bourses fell back as investors await corporate results. In Saudi Arabia the Tadawul main index rose 0.3%, conti

Published 16 Jul, 2019 12:00am

Hong Kong shares up

Hong Kong shares rose on Monday after China's upbeat retail sales and factory output numbers pointed to some stabilisation in the world's second-largest economy, and as China's second-quarter economic growth met expectations. At the close of trade, the Ha

Published 16 Jul, 2019 12:00am

China shares surge on upbeat June data

Chinese shares closed firmer on Monday as China's upbeat retail sales and factory output numbers pointed to some stabilization, with second-quarter economic data meeting expectations, while technology shares rebounded from previous week's sharp declines.

Published 16 Jul, 2019 12:00am

Monday's early afternoon trade: Wall Street's three main indexes slightly lower

Wall Street's three main indexes edged lower in choppy trade on Monday, easing from record highs, as declines in Boeing and bank stocks after Citigroup's quarterly report were tempered by a rise in healthcare shares. Citigroup Inc reported a better-than-e

Published 16 Jul, 2019 12:00am

Nigerian stocks drop to new two-month low

Nigerian stocks fell to a fresh two-month low on Monday, led down by banks and heavyweight Dangote Cement. The main index dropped for the third straight session, falling 0.79% to 28,341 points, a level last seen in May. Shares have been held back by low g

Published 16 Jul, 2019 12:00am

Currency

SE Asian stocks: Manila climbs, Singapore down

Philippine shares closed at a more than 16-month high on Monday, after a local daily reported the central bank may look at further rate cuts, while Indonesia rose after the government said it was looking to relax laws and taxes to boost investment. Most o

Published 16 Jul, 2019 12:00am

Eurozone bonds resume rally, led by Italy's 10bps yield drop

Eurozone government bonds rallied on Monday as buyers returned in force after last week's sharp selloff, compressing yields around the bloc by 5-10 basis points and taking Italian borrowing costs to 10-day lows. German yields last week touched 3-1/2-week

Published 16 Jul, 2019 12:00am

Eurozone bonds resume rally, led by Italy's 10bps yield drop

Published 16 Jul, 2019 12:00am

Currency

Indian shares up

Indian shares settled higher on Monday, as IT giant Infosys Ltd surged to an all-time high on the back of strong quarterly results and a hike in revenue forecast. The broader NSE index closed up 0.31% at 11,588.35, while the benchmark BSE index settled 0.

Published 16 Jul, 2019 12:00am

European stocks up

European stocks ended higher on Monday as trade-sensitive German equities took heart from surprisingly strong Chinese data after worries about domestic growth led to a shaky start. Frankfurt-listed shares had briefly dipped into the red in early trade aft

Published 16 Jul, 2019 12:00am

Australian, New Zealand shares down

Australian shares ended down on Monday, though gains by miners on the back of some heartening Chinese economic data helped to trim broad market losses that were driven by the financial sector. The S&P/ASX 200 index was 0.65% lower at 6,653 points at the c

Published 16 Jul, 2019 12:00am

Chinese data, Antofagasta help FTSE end longest losing streak in years

London's FTSE 100 clawed back some ground on Monday, ending its longest losing streak in three-and-a-half years as Chinese data eased investor concerns over a global growth slowdown. After seven sessions of losses, the FTSE 100 rose 0.3%, with miner Antof

Published 16 Jul, 2019 12:00am

LVMH teams up with Stella McCartney

French luxury and fashion giant LVMH said Monday it will buy a minority stake in Stella McCartney's design house, which has cut ties with LVMH'S fierce rival Kering after 17 years.

Published 16 Jul, 2019 12:00am

New UK bank note to feature mathematician Turing

The Bank of England on Monday said World War II code-breaker Alan Turing had been chosen to feature on the back of Britain's new £50 bank note ($63, 56 euros). "Alan Turing was an outstanding mathematician whose work has had an enormous impact on how we l

Published 16 Jul, 2019 12:00am

Automation has doubled in global manufacturing

The use of robots in US manufacturing has more than tripled over the two decades, and has doubled in the rest of the world, replacing certain categories of worker, according to a report published Monday.

Published 16 Jul, 2019 12:00am

Amazon staff stage strikes in Germany on big sale day

Amazon employees went on strike at seven locations in Germany on Monday, demanding better wages as the US online retail giant launched its two-day global shopping discount extravaganza called Prime Day. Workers in Germany walked out early Monday, with Orh

Published 16 Jul, 2019 12:00am

EU slams 'misinformation' against Mercosur trade deal

The European Commission dismissed critics of its ambitious trade deal with South America on Monday, insisting that strict EU norms on food standards would be respected. After two decades of talks, last month the EU announced a preliminary trade agreement

Published 16 Jul, 2019 12:00am

Canada offers new rules for airline passengers

Canada introduced new consumer protection rules Monday for airline passengers travelling to or from the country, offering up to Can$2,400 (1,634 euros) in compensation for people who miss flights because airlines have overbooked.

Published 16 Jul, 2019 12:00am

Citigroup earnings climb on lower expenses

Citigroup reported increased second-quarter earnings on Monday, benefitting from higher lending and lower expenses despite worries over a slowing economy. The first of the large US banks to report this week, Citigroup notched net income of $4.8 billion, u

Published 16 Jul, 2019 12:00am

Exchange

Zambian president sacks finance minister

Zambia's President Edgar Lungu has fired Finance Minister Margaret Mwanakatwe, a statement from the presidency said Monday, as the economy grows at its slowest rate in 20 years. Mwanakatwe, 57, was appointed only last year but was removed on Sunday withou

Published 16 Jul, 2019 12:00am

Currency

Zimbabwe inflation rate soars to 175 percent

Zimbabwe's annual inflation rate hit 175 percent in June, official data showed Monday, stoking fears of a return of the hyperinflation that wiped out savings ten years ago when the economy collapsed. Supplies of essentials such as bread, medicine and petr

Published 16 Jul, 2019 12:00am

Huawei plans to invest $3.1 billion in Italy

Chinese tech giant Huawei said Monday it plans to invest $3.1 billion (2.75 billion euros) in Italy over three years, as the firm looks to strengthen its foothold in Europe after the US labelled it a major security risk.

Published 16 Jul, 2019 12:00am

Atlantia, Delta picked to reboot ailing Alitalia

Italy's state railway Ferrovie dello Stato (FS) on Monday said it had chosen the Atlantia group and US airline Delta as partners to reboot the ailing carrier Alitalia. The economy ministry is to be the fourth main investor in Alitalia, which has struggled

Published 16 Jul, 2019 12:00am

Currency

Facebook must meet 'very high standard' for digital currency: Treasury chief

Facebook will need to meet "a very high standard" before it moves ahead with its planned digital currency Libra, US Treasury Secretary Steven Mnuchin said Monday.

Published 16 Jul, 2019 12:00am

Hunger on the rise worldwide as 821 million affected: UN

More than 821 million people suffered from hunger, food insecurity and malnutrition worldwide last year, the United Nations reported Monday - the third year in a row that the number has risen.

Published 16 Jul, 2019 12:00am

Stokes sets sights on Ashes glory

Ben Stokes has already started turning his attention to the Ashes just a day after starring for England in their dramatic World Cup final win against New Zealand. The all-rounder made an unbeaten 84 as the host nation tied the scores in regulation play at

Published 16 Jul, 2019 12:00am

England celebrate World Cup triumph with young fans

England revelled in their first World Cup triumph on Monday, soaking up the adulation of a disbelieving nation after one of the most extraordinary finishes to a cricket match in history. The host country, after 44 years of trying, finally became world cha

Published 16 Jul, 2019 12:00am

Kiwis praise team but query 'cruel' rules

Heartbroken New Zealanders expressed pride Monday in the Black Caps' fighting spirit after defeat to England in the Cricket World Cup final, but also bemusement at the obscure rules that cost them the match. The Black Caps lost even though scores were tie

Published 16 Jul, 2019 12:00am

China go seven for seven at world diving

Cao Yuan and Chen Aisen destroyed a quality field to win gold in the men's 10-metre synchro platform Monday as China's peerless divers made it seven from seven at the world championships. Former Olympic champion Cao and Chen, the reigning Olympic king, ra

Published 16 Jul, 2019 12:00am

Griezmann trains for the first time with Barcelona

French striker Antoine Griezmann trained with his new Barcelona teammates for the first time on Monday following his controversial move from Atletic Madrid last week. "The first of two sessions scheduled for the day was completed by all available first te

Published 16 Jul, 2019 12:00am

Serbian press crown Djokovic 'King of Tennis'

The Serbian press on Monday proclaimed Novak Djokovic "king of tennis" with the "heart of a hero" after he claimed his fifth Wimbledon title beating eight-time champion Roger Federer. The 32-year-old Serbian saved two match points as he took his Grand Sla

Published 16 Jul, 2019 12:00am

Boxing legend 'Sweet Pea' Whitaker dies

Former Olympic boxing gold medallist and four-weight world champion Pernell Whitaker has died after a traffic accident in Virginia, police confirmed on Monday. The 55-year-old was killed after being struck by a vehicle at an intersection in Virginia Beach

Published 16 Jul, 2019 12:00am

Algeria stun Nigeria to reach Africa Cup of Nations final

Riyad Mahrez rifled in a stoppage-time free-kick to earn Algeria a dramatic 2-1 victory over three-time champions Nigeria on Sunday and set up a rematch with Senegal in the Africa Cup of Nations final. Algeria led through a first-half own goal by William

Published 16 Jul, 2019 12:00am

Currency

Bitcoin drops more than 10 percent

Bitcoin slumped more than 10 percent over the weekend to a two-week low as fears of a crackdown of cryptocurrencies grew on mounting scrutiny of Facebook's planned Libra digital coin. Bitcoin fell 11.1% from Friday to $9,855 early on Monday, its lowest si

Published 16 Jul, 2019 12:00am

Currency

Dollar stays on defensive in Asia

The dollar stayed on the defensive on Monday, pinned down by expectations of a Federal Reserve rate cut this month, as traders in Asia waited for the latest update on the health of the world's second largest economy. Figures due at 0200 GMT are expected t

Published 16 Jul, 2019 12:00am

Exchange

Early trade in New York: dollar modestly higher

The dollar was little changed to slightly higher on Monday in thin summer trading, with the greenback's upside potential hampered by expectations the Federal Reserve will cut interest rates at next week's policy meeting. Investors expect the Fed to reduce

Published 16 Jul, 2019 12:00am

Exchange

Euro inches up against dollar in Europe

The euro remained within its recent trading range against the dollar on Monday, its progress capped by expectations for a dovish European Central Bank meeting next week and after investors turned more bearish on the currency. Foreign exchange markets were

Published 16 Jul, 2019 12:00am

Currency

Latam FX mixed

Latin American markets had a tepid start on Monday with Brazilian assets subdued as economic worries eclipsed optimism from pensions reform hopes, while currencies in the region were mixed with Argentina's peso dropping on a Moody's outlook cut. The Sao P

Published 16 Jul, 2019 12:00am

Currency

Emerging Asian currencies gain; rupiah outperforms

Emerging Asian currencies got the week off to a firmer start on Monday, buoyed by encouraging Chinese economic data, while the Indonesian rupiah led the gains after the country's president pledged to open up investment opportunities. Second quarter gross

Published 16 Jul, 2019 12:00am

Currency

Canadian dollar little changed

The Canadian dollar was little changed against its US counterpart on Monday, holding near Friday's nine-month high, as domestic data showed that housing sales dipped for the first time in four months. At 10:11 am. (1411 GMT), the Canadian dollar was tradi

Published 16 Jul, 2019 12:00am

Currency

South Africa's rand up

South Africa's rand firmed on Monday as bets the Federal Reserve will cut interest rates next week continued to boost the currency in the absence of any local economic drivers, on a day dominated by ex-president Jacob Zuma's testimony at a graft inquiry.

Published 16 Jul, 2019 12:00am

Sterling slides back to six-month lows against dollar, euro

The British pound fell back towards six-month lows against the dollar and the euro on Monday, with traders still nervous about a loss of momentum in the UK economy, the prospect of an interest rate cut and a new prime minister. At the end of last week, st

Published 16 Jul, 2019 12:00am

Currency

Aussie, kiwi cheered by upbeat China data

The Australian and New Zealand dollars inched higher on Monday after Chinese economic data either matched or beat market forecasts, suggesting policy stimulus there was making a much-needed impression. The Aussie dollar rose to $0.7029 and away from the r

Published 16 Jul, 2019 12:00am

White House moves to block asylum for migrants crossing Mexico

The Trump administration moved Monday to declare most migrants who cross the US southern border after passing through Mexico ineligible for asylum. A new rule redefining asylum eligibility - to take effect on Tuesday - is the latest attempt to stem the fl

Published 16 Jul, 2019 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	158.33
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 26	5099.96
India Sensex / Apr 26	73730.16
Tokyo Nikkei / Apr 26	37934.76
Nasdaq / Apr 26	15927.90
Hang Seng / Apr 26	17651.15
FTSE 100 / Apr 26	8139.83
Dow Jones / Apr 26	38239.66
Germany DAX 30 / Apr 26	18161.01

Item	Value
Crude Oil USD/Barrel / Apr 26	83.85
Karachi Cotton PKR/37.32 KG / Apr 26	20535
Gold 10 Grams PKR / Apr 26	210048
Gold Spot USD/Ounce / Apr 26	2337.96
Cotton US¢/pound / Apr 26	80.90
Petrol/Litre / Apr 28	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 28 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 28 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 28 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 28 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 28 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 28 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 28 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 28 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 28 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 28 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 28 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 28 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 28 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 28 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 28 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 28 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 28 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 28 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 28 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 28 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 28 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 28 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 28 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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