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Friday 27, March 2015
 
 
 
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Commodities


Social welfare bodies extending tremendous help in govt’s efforts: Dar

By: Web Desk, Uploaded: 26th March 2015

Social welfare bodies extending tremendous help in govt’s efforts: Dar KARACHI: Federal Finance Minister for Finance Mohammad Ishaq Dar has emphasised upon the significance of social welfare organisations in complementing government’s efforts to provide basic facilities to the people. Speaking at the inauguration of a state of the art blood bank at Al-Mustafa Medical Centre in Gulshan-e-Iqbal, here on Wednesday, he lauded Al-Mustafa Welfare Society...


Bullion Rates

By: Web Desk, Uploaded: 25th March 2015

Bullion Rates Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (March 24, 2015). ================================== In rupees per 10 gram    In Rupees ================================== KARACHI ———————————- Gold Tezabi 24 CT         40500.00 Silver Tezabi               578.57 ———————————- HYDERABAD ———————————- Gold 24 CT                40165.00 Gold 22 CT                36815.00 Silver                      570.10 ==================================...


Digital advertising billboards pose road safety threat

By: Web Desk, Uploaded: 22nd March 2015

Digital advertising billboards pose road safety threat ISLAMABAD: The increased use of digital billboards along roads throughout the country pose road safety threat and the policymakers should enforce regulations in this regard. “Many developed countries have banned digital advertising billboards, which distract drivers’ attention,” said Mohammad Shahid, a road safety expert, here on Sunday. He also appreciated the Capital Development Authority (CDA)...


Bullion Rates

By: Web Desk, Uploaded: 13th March 2015

Bullion Rates Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (March 12, 2015). ================================== In rupees per 10 gram    In Rupees ================================== KARACHI ———————————- Gold Tezabi 24 CT         39857.00 Silver Tezabi               565.71 ———————————- MULTAN ———————————- Gold Tezabi 24 CT         39738.00 Gold 22 CT                36370.00 Silver Tezabi               600.00 Silver Thobi                550.00...


Lazard sole bidder to advise Serbian telecom sale

By: Web Desk, Uploaded: 7th March 2015

Lazard sole bidder to advise Serbian telecom sale BELGRADE: The financial advisory firm Lazard Freres SAS was the only bidder in a tender to advice on the sale of Serbia’s state operated Telekom Srbija, the telecom provider said on Friday. Telekom Srbija is potentially the most lucrative of hundreds of state enterprises, many of them loss-making, that the Balkan country of 7.3 million...


Russian inflation hits 16.7% in fastest spike in over a decade

By: Web Desk, Uploaded: 6th March 2015

Russian inflation hits 16.7% in fastest spike in over a decade MOSCOW: Russian inflation reached 16.7 percent in February as lower oil prices and Western sanctions over Ukraine caused the biggest jump in prices over one year since 2002, the state statistics service said Thursday. Prices rose a further 2.2 percent in February after leaping 3.9 percent in January a rate unseen in 16 years as...


Taiwan tenders to buy 83,950 T U.S. origin wheat -traders

By: Web Desk, Uploaded: 6th March 2015

Taiwan tenders to buy 83,950 T U.S. origin wheat -traders HAMBURG: The Taiwan Flour Millers’ Association has issued a tender to buy 83,950 tonnes of grade 1 milling wheat to be sourced from the United States, European traders said on Friday. Tender deadline is March 11, they said. The wheat is sought in two consignments, with 37,650 tonnes for shipment between Apr. 28 and May...


Macquarie gives guidance for yen Pro bond issue

By: Web Desk, Uploaded: 6th March 2015

Macquarie gives guidance for yen Pro bond issue SYDNEY: Macquarie Bank has released price talk for its inaugural offering of Pro bonds via joint lead managers SMBC Nikko and Citigroup. Price guidance levels for the senior unsecured fixed-rate bonds at tenors of five and years years are yen offer-side swaps plus 15bp area and 20bp-25bp, respectively. This is equivalent to three-month US Libor...


J.Martins profit slumps on costs, food deflation despite higher sales

By: Web Desk, Uploaded: 5th March 2015

J.Martins profit slumps on costs, food deflation despite higher sales LISBON: Portuguese retailer Jeronimo Martins on Wednesday posted a worse than expected 36.5 percent drop in quarterly net profit due to increased costs and food deflation amid tough price competition, even as its sales increased. It said it still saw deflation as a major challenge this year, at least through the first half, but did...


Arabicas rebound 6 percent on short-covering spree

By: Web Desk, Uploaded: 5th March 2015

Arabicas rebound 6 percent on short-covering spree NEW YORK/LONDON, Arabica coffee futures on ICE jumped 6 percent on Wednesday, snapping back from the prior session’s biggest tumble in nearly five years on heavy short-based buying, while raw sugar fell to the lowest level since 2010 on abundant supplies. London cocoa futures inched up to a five-month high, rising for the fifth straight...


Australia orders China group to sell ‘illegal’ Sydney mansion

By: Web Desk, Uploaded: 3rd March 2015

Australia orders China group to sell ‘illegal’ Sydney mansion SYDNEY: Australia on Tuesday ordered China’s Evergrande Real Estate Group to sell a Sydney mansion worth Aus$39 million (US$30 million), saying it was bought illegally under foreign investment rules. Cashed-up foreigners, many from China, have been blamed for driving up prices in Australian property markets, particularly Sydney and Melbourne, and placing home ownership out of reach...


CNG stations in Sindh to observe three shutdowns

By: Web Desk, Uploaded: 2nd March 2015

CNG stations in Sindh to observe three shutdowns KARACHI:  Sui Southern Gas Company (SSGC) has announced CNG shutdown schedule for the current week. All the CNG stations in entire Sindh will  remain closed on Tuesday, Thursday and Saturday from  8.00 a.m. for next 24 hours,  said a statement  issued here on Monday....


China manufacturing improves in February: HSBC

By: Web Desk, Uploaded: 2nd March 2015

China manufacturing improves in February: HSBC BEIJING: China’s manufacturing activity in February improved more than initially thought, HSBC said Monday, but weakening foreign demand and declining prices signalled the world’s second largest economy still faces multiple woes. The British bank’s final purchasing managers’ index (PMI) for the month came in at 50.7, up from its preliminary reading of 50.1 and the...


India factory output slides to five-month low: survey

By: Web Desk, Uploaded: 2nd March 2015

India factory output slides to five-month low: survey MUMBAI: India’s factory output in February grew at its slowest pace in five months as business demands remained dim, a survey showed Monday, suggesting strong government steps were needed to reignite growth. Banking giant HSBC’s report comes two days after the right-wing government unveiled its first full year budget, which analysts said skipped big reforms...


Japan-US food trade

By: Web Desk, Uploaded: 2nd March 2015

Japan-US food trade Tokyo, JAPAN: US beef is displayed under a newly designed brand mark at a press conference in Tokyo on March 2, 2015. US Meat Export Federation (USMEF) president Philip Seng is now here to promote more US meat consumption in the Japanese market. Japan and US governments are now in talks to lower tariffs on...


Italy’s Malacalza family to become Carige top investor

By: Web Desk, Uploaded: 2nd March 2015

Italy’s Malacalza family to become Carige top investor MILAN: Malacalza Investment agreed on Sunday to buy 10.5 percent of Banca Carige from the Carige banking foundation in a 66.2 million euro deal that makes the family controlled holding the biggest investor in the mid-sized Italian lender. Carige, one of the Italian banks under European supervision, failed a health check of lenders across the...


EFG Hermes eyes Egypt renewables investments, leasing business -CEO

By: Web Desk, Uploaded: 2nd March 2015

EFG Hermes eyes Egypt renewables investments, leasing business -CEO DUBAI: Egyptian investment bank EFG Hermes is studying investments in renewable energy and hopes to start a leasing business in its home country within months as it looks to take advantage of improving economic sentiment. Chief Executive Karim Awad said on Sunday that EFG hopes to launch a leasing business during the first half of...


Rio Tinto energy chief’s job cut may signal coal exit

By: Web Desk, Uploaded: 2nd March 2015

Rio Tinto energy chief’s job cut may signal coal exit MELBOURNE/LONDON: In its latest effort to slash costs as commodity prices fall, Rio Tinto   is letting go its energy chief and rolling its coal and uranium businesses into two other units, a move that could signal its intention to divest its coal assets. The world’s second-largest mining company said on Friday it will fold its...


Upto $7 mln fruits, vegetable exports orders expected from Expo

By: Web Desk, Uploaded: 27th February 2015

Upto $7 mln fruits, vegetable exports orders expected from Expo KARACHI: Five to seven million dollars import orders for fruits and vegetable are expected to be received before the end of 4-day 9th Expo Pakistan 2015 that began on Thursday last at Expo Centre Karachi. Waheed Ahmed, Chairman, FPCCI Standing Committee on Fruits and Vegetable Exports, and Co-chairman, All Pakistan Fruits and Vegetable Importers, Exporters...


China to import $4 to 5 million jewellery from Pakistan

By: Web Desk, Uploaded: 27th February 2015

China to import $4 to 5 million jewellery from Pakistan KARACHI: Gems and Jewellery Trade Association of China (GJTAC) here signed Memorandum of Understanding (MoU) with All Pakistan Gems and Jewellery Association (APGJA) for import of jewellery and gems from Pakistan valuing dollars 4 to 5 million,The MoU, signed at Expo Centre Karachi on Friday, the second day of 9th ExpoPakistan 2015, is aimed at...


SHELL ECO-MARATHON ASIA 2015 COMMENCES

By: Farah Jamil, Uploaded: 27th February 2015

SHELL ECO-MARATHON ASIA 2015 COMMENCES STUDENTS FROM ASIA, MIDDLE EAST AND AUSTRALIA TAKE ON FUEL EFFICIENCY CHALLENGE Pakistan: Today at the historic Luneta Park in Manila, Asia’s most fuel-efficient vehicles built by students were flagged off, signalling the official start of Shell Eco-marathon Asia 2015. The annual competition challenges the region’s aspiring young engineers to build vehicles of the future...


As Cushing fills, traders eye Houston to play the storage game

By: Web Desk, Uploaded: 27th February 2015

As Cushing fills, traders eye Houston to play the storage game NEW YORK: As rapidly rising oil stockpiles near the limits of storage tanks in Cushing, Oklahoma, traders are quickly turning their sights south to the U.S. Gulf Coast, where capacity is more plentiful but profits more elusive. The Gulf Coast region boasts nearly 210 million barrels of capacity on oil tank farms, more than a...


Noble Group shares tumble to 6-week low as accounting questions persist

By: Web Desk, Uploaded: 27th February 2015

Noble Group shares tumble to 6-week low as accounting questions persist SINGAPORE: Noble Group Ltd shares slumped on Friday after the Asian commodities trader swung to an unexpected quarterly loss due to asset write downs, and as investors fretted over a research report questioning its accounting methods. Noble’s shares dropped as much as 7 percent, taking the total decline to 19 percent in a rout that...


Thailand and Vietnam set to win Philippines rice deals

By: Web Desk, Uploaded: 27th February 2015

Thailand and Vietnam set to win Philippines rice deals MANILA: The world’s biggest rice sellers, Thailand and Vietnam, are likely to win government to government deals to supply a total 500,000 tonnes of the grain to the Philippines, which is seeking to build its buffer stock ahead of a lean harvest season. Thailand offered on Friday to sell 100,000 tonnes each of 15 percent...


Soybeans may retrace more to $9.98-1/4

By: Web Desk, Uploaded: 26th February 2015

Soybeans may retrace more to $9.98-1/4 SINGAPORE: CBOT soybeans March contract may retrace more to $9.98-1/4 per bushel, as it has cleared support at $10.11-1/2. The support was at the 50 percent Fibonacci retracement on the fall from the Dec. 29 high of $10.68-1/4 to the Jan. 30 low of $9.55 per bushel. The next support will be at $9.98-1/4, the...


Indonesia’s smaller coal miners to take hit from royalty hike

By: Web Desk, Uploaded: 24th February 2015

Indonesia’s smaller coal miners to take hit from royalty hike JAKARTA: Indonesia’s plan to roughly double coal royalties next month is expected to hurt most for smaller and newer firms producing low-quality coal, government and industry officials say, with many struggling as prices have halved since 2011. The world’s top exporter of thermal coal is looking to increase returns from its output to promote development...


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