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Thursday 18, December 2014

 
 
 




 

Commodities


Oil prices up in Asian trade

By: Web Desk, Uploaded: 18th December 2014

Oil prices up in Asian trade SINGAPORE: – Oil prices edged higher in Asia Thursday after data showed US stockpiles dipping, while the Federal Reserve indicated interest rates would not be hiked until the middle of next year. US benchmark West Texas Intermediate for January delivery rose eight cents to $56.55 while Brent crude for February gained 18 cents to $61.36...


Saudi to continue ‘massive’ spending despite oil price fall

By: Hassaan Ali, Uploaded: 17th December 2014

Saudi to continue ‘massive’ spending despite oil price fall RIYADH: Saudi Arabia will continue massive public spending despite a 50 percent drop in the price of oil which provides the bulk of the kingdom’s revenue, the finance minister said Wednesday. Ibrahim bin Abdulaziz Al-Assaf commented after completing the 2015 budget, which will be presented to cabinet “in the near future”, the official Saudi Press...


Oil prices sink further in Asian trade

By: Web Desk, Uploaded: 17th December 2014

Oil prices sink further in Asian trade SINGAPORE: – Oil suffered fresh losses in Asia Wednesday, sinking to new multi-year lows as dealers watch Russia’s ruble crisis and await the latest US crude supply report, analysts said. US benchmark West Texas Intermediate for January delivery sank $1.16 in mid-morning trade to $54.77 while Brent crude for February fell 82 cents to $59.19...


Finance Minister meets delegation of K-Electric

By: Web Desk, Uploaded: 17th December 2014

Finance Minister meets delegation of K-Electric ISLAMABAD: Finance Minister, Ishaq Dar here on Tuesday met the 4-member delegation of the K-Electric (formerly KESC) which was led by Tabish Gauhar its Chairman and discussed US $ 2 billion – 3 year Investment plan envisaging expansion in power generation, transmission and distribution businesses of the company. The Minister was briefed on the occasion...


Brent oil tumbles under $60 for first time since 2009

By: Web Desk, Uploaded: 16th December 2014

Brent oil tumbles under $60 for first time since 2009 LONDON: – The price of Brent oil slumped Tuesday to a fresh five-year low below $60 per barrel, as weak Chinese manufacturing data stoked global demand concerns, with sentiment also plagued by over-supply. In morning London deals, the price of Brent North Sea crude for delivery in January sank to $59.63, breaching the key level...


Asian stocks mostly lower as oil hits new troughs

By: Web Desk, Uploaded: 16th December 2014

Asian stocks mostly lower as oil hits new troughs HONG KONG: – Asian markets mostly slipped Tuesday following a sell-off in Europe and the United States, as oil prices plunged to more than five-year lows and data indicated Chinese manufacturing activity shrank in December. The dollar and euro edged lower against the yen after losing pace Monday due to the uncertainty created by weak...


Brent oil tumbles under $60 for first time since 2009

By: Web Desk, Uploaded: 16th December 2014

Brent oil tumbles under $60 for first time since 2009 LONDON: – Brent oil slumped Tuesday to a new five-year low below $60 per barrel, as shrinking Chinese manufacturing activity stoked global demand concerns, with sentiment also plagued by over-supply. In morning London deals, the price of Brent North Sea crude for delivery in January sank to $59.49, hitting a low last seen in July...


Government allows sugar mills to export 500,000 MT

By: Web Desk, Uploaded: 15th December 2014

Government allows sugar mills to export 500,000 MT ISLAMABAD: The Government has allowed sugar mills to export 500,000 MT sugar as per the terms and conditions. Accordingly, the State Bank of Pakistan has advised authorized dealers (ADs) to process the export of sugar cases as per following mechanism. The ADs will forward the requests of Sugar Mills through their respective Departmental /Business/Group Heads...


Oil prices plunge to fresh five-year low in Asian trade

By: Web Desk, Uploaded: 15th December 2014

Oil prices plunge to fresh five-year low in Asian trade SINGAPORE: – Oil prices sank to a fresh five-year low in Asia on Monday after a top OPEC official said the relentless plunge was not just because of a global supply glut. US benchmark West Texas Intermediate for January delivery fell 25 cents to $57.56 while Brent crude for January was down one cent to...


Central banks, oil price rout to rule markets in 2015

By: Web Desk, Uploaded: 15th December 2014

Central banks, oil price rout to rule markets in 2015 PARIS: – Addicted to liquidity and disconnected from the real economy, global markets are likely to dance in 2015 to the different monetary policy tunes played by the US Fed, the ECB and China, while plunging oil prices could spice up the mix. In 2015, “like the last seven years, it is the central bank...


Oil prices rebound in Asia

By: Hassaan Ali, Uploaded: 15th December 2014

Oil prices rebound in Asia SINGAPORE: – Oil prices bounced back in Asia Monday on hopes of upbeat global manufacturing data to be released later this week, but remained near five-year lows after plunging more than 50 percent since June. US benchmark West Texas Intermediate rose 49 cents to $58.30 while Brent gained 68 cents to $62.53 in afternoon trade,...


Oil prices plunge to fresh five-year low in Asian trade

By: Hassaan Ali, Uploaded: 15th December 2014

Oil prices plunge to fresh five-year low in Asian trade SINGAPORE: – Oil prices sank to a fresh five-year low in Asia on Monday after a top OPEC official said the relentless plunge was not just because of a global supply glut. US benchmark West Texas Intermediate for January delivery fell 25 cents to $57.56 while Brent crude for January was down one cent to...


Central banks, oil price rout to rule markets in 2015

By: Web Desk, Uploaded: 15th December 2014

Central banks, oil price rout to rule markets in 2015 PARIS:- Addicted to liquidity and disconnected from the real economy, global markets are likely to dance in 2015 to the different monetary policy tunes played by the US Fed, the ECB and China, while plunging oil prices could spice up the mix. In 2015, “like the last seven years, it is the central bank interventions...


PTI protest in Karachi caused Rs 65bn loss

By: Web Desk, Uploaded: 14th December 2014

PTI protest in Karachi caused Rs 65bn loss LAHORE: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Sunday said the PTI’s politics of protest in Karachi yesterday caused a huge loss of Rs 65 billion to the private sector. Talking to APP here, Zonal Chairman and Federation Vice President SM Naseer said the country had been passing through a critical phase...


Weekly Inflation down by 0.54%

By: Hassaan Ali, Uploaded: 12th December 2014

Weekly Inflation down by 0.54% ISLAMABAD:-The Sensitive Price Indicator (SPI) for the week ended on December 11 for the lowest income group up to Rs. 8,000 registered decrease of 0.54 percent as compared to the previous week. The SPI for the week under review in the above mentioned group was recorded at 203.37 points against 204.47 points registered in the...


Oil prices struggle after WTI sinks below $60

By: Web Desk, Uploaded: 12th December 2014

Oil prices struggle after WTI sinks below $60 SINGAPORE:- Oil prices sank further in Asia Friday, with analysts warning of little respite from the the selling after plunging more than 40 percent since June. US benchmark West Texas Intermediate (WTI) for January deliver was down 86 cents at $59.09 in mid-morning trade. The contract closed below the psychological $60 mark for the first...


Oil prices rebound in Asia

By: Web Desk, Uploaded: 11th December 2014

Oil prices rebound in Asia SINGAPORE: – Oil prices rebounded in Asia Thursday after falling sharply to fresh five-year lows in the previous session after OPEC cut its forecast for demand 2015 and US stockpiles saw a surprise surge, analysts said. US benchmark West Texas Intermediate (WTI) for January delivery rose 58 cents to $61.52 while Brent crude for January...


IATA raises airlines’ profit forecast as oil prices plunge

By: Web Desk, Uploaded: 10th December 2014

IATA raises airlines’ profit forecast as oil prices plunge GENEVA: – Global airline association IATA on Friday raised the sector’s profit forecast to $19.9 billion for 2014 and $25 billion for 2015, as plunging oil prices drive down costs. “Lower oil prices and stronger worldwide GDP growth are the main drivers behind the improved profitability,” IATA said in a statmeent....


IATA expects record profit for airlines as oil prices plunge

By: Web Desk, Uploaded: 10th December 2014

IATA expects record profit for airlines as oil prices plunge GENEVA:- Global airline association IATA on Friday raised the sector’s profit forecast to a record $19.9 billion for 2014 and $25 billion for 2015, as plunging oil prices drive down costs. “Lower oil prices and stronger worldwide GDP growth are the main drivers behind the improved profitability,” IATA said in a statement. Crude prices have...


Oil prices down in Asian trade

By: Web Desk, Uploaded: 10th December 2014

Oil prices down in Asian trade SINGAPORE: – Oil prices fell in Asia Wednesday as dealers await the latest US supply report for clues about production levels, while weak Chinese and German trade data also weighed, analysts said. US benchmark West Texas Intermediate for January delivery slipped 86 cents to $62.96 while Brent crude for January was down 81 cents at...


Oil prices down in Asian trade

By: Web Desk, Uploaded: 10th December 2014

Oil prices down in Asian trade SINGAPORE: – Oil prices fell in Asia Wednesday as dealers await the latest US supply report for clues about production levels, while weak Chinese and German trade data also weighed, analysts said. US benchmark West Texas Intermediate for January delivery slipped 90 cents to $62.92 while Brent crude for January was down $1.01 at $65.83...


Oil prices tumble to fresh five-year lows

By: Web Desk, Uploaded: 9th December 2014

Oil prices tumble to fresh five-year lows SINGAPORE:- Crude struck fresh five-year lows in Asia Tuesday, with analysts forecasting further falls owing to weak demand, a global supply glut and fewer production halts. US benchmark West Texas Intermediate for January delivery fell 52 cents to $62.53 while Brent for January eased 69 cents to $65.50 in afternoon trade. WTI tumbled $2.79 in...


Oil prices down after lackluster Chinese trade data

By: Web Desk, Uploaded: 8th December 2014

Oil prices down after lackluster Chinese trade data SINGAPORE:- Crude hit fresh five-year-lows Monday following another weak batch of trade data out of China, while prices were also pressured by the strengthening dollar, analysts said. US benchmark West Texas Intermediate (WTI) for January delivery was down 81 cents at $65.03 in late-morning trade. Brent crude slipped 82 cents to $68.25. WTI is sitting...


Sindh CM announces raise in minimum sugarcane price

By: Web Desk, Uploaded: 7th December 2014

Sindh CM announces raise in minimum sugarcane price KARACHI:  Sindh Chief Minister Syed Qaim Ali on growers’ demand and in public interest has increased minimum price of sugarcane from Rs 155 to Rs 182 per maund. Addressing a press conference here on Sunday, he asked the sugar mills owners to start procurement of sugarcane at the fixed rates and start the crushing season....


New textile policy demanded

By: Web Desk, Uploaded: 5th December 2014

New textile policy demanded FAISALABAD: Textile exporters have demanded the approval of new txtile policy for redrassal of the exporters’ problems. Expressing concern over the delay in the approval of textile policy here Friday, Sohail Pasha, chairman and Rizwan Riaz, vice chairman of Pakistan Textile Exporters Association (PTEA) demanded that new five-year textile policy should include financial and industrial...


Oil down after Saudi Arabia slashes crude price

By: Web Desk, Uploaded: 5th December 2014

Oil down after Saudi Arabia slashes crude price SINGAPORE:- Oil fell in Asia on Friday after major producer Saudi Arabia slashed the price of the crude that it sells to Asia and the United States, analysts said. US benchmark West Texas Intermediate (WTI) for January delivery tumbled 31 cents to $66.50 a barrel in late-morning trade and Brent crude for January dropped 38...


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