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Saturday 25, October 2014

 
 
 




 

Economy


PPL following string of gas discoveries distributes 125% cash dividends

By: Web Desk, Uploaded: 24th October 2014

PPL following string of gas discoveries distributes 125% cash dividends KARACHI: Consequent to significant gas and condensate discoveries made by Pakistan Petroleum Limited (PPL) the company has distributed 125% cash dividend to its shareholders during fiscal year that ended this June. Chairman, PPL, Waqar A Malik addressing its 63rd Annual General Meeting here Friday said the company besides payment of final cash dividend of 75%...


GLOBAL MARKETS-Stocks jump on U.S. corporate results, bonds fall

By: Web Desk, Uploaded: 24th October 2014

GLOBAL MARKETS-Stocks jump on U.S. corporate results, bonds fall NEW YORK: Global equity markets rose on Thursday, with stocks on Wall Street climbing more than 1 percent as U.S. corporate earnings continued to beat expectations, while government debt prices slid on stronger American and German economic reports. Results from Caterpillar Inc and 3M Co, both Dow components, reassured investors that companies with large overseas...


Filing returns: KCCI for extension of date

By: Web Desk, Uploaded: 24th October 2014

Filing returns: KCCI for extension of date President of Karachi Chamber of Commerce and Industry (KCCI), Iftikhar Ahmed Vohra has urged the Federal Board of Revenue (FBR) to extend the last date for filing of income tax returns and wealth statements as the taxpayers are facing immense hardships. President KCCI, in his statement on Thursday, emphasised FBR to restore the previous online...


Asia shares slip on profit-taking

By: Web Desk, Uploaded: 23rd October 2014

Asia shares slip on profit-taking HONG KONG- Asian markets slipped on profit-taking Thursday following the previous day’s hefty gains but losses were limited after a closely watched indicator showed a slight pick-up in Chinese manufacturing activity. The dollar edged up following a surprising rise in US inflation while the euro faced fresh selling pressure owing to speculation that the European...


Euro flat in Asia after drop on ECB easing plan reports

By: Web Desk, Uploaded: 22nd October 2014

Euro flat in Asia after drop on ECB easing plan reports TOKYO- The euro held steady in Asia on Wednesday after it dropped in New York on reports that the European Central Bank could expand its bond-buying programme. In Tokyo morning trade, the common currency fetched $1.2720 and 136.01 yen against $1.2714 and 136.04 yen in New York late Tuesday. The single currency had been at...


Asia shares boosted by Wall St rally

By: Web Desk, Uploaded: 22nd October 2014

Asia shares boosted by Wall St rally HONG KONG- Asian markets pushed higher Wednesday, taking a lead from fresh gains in New York and Europe in response to reports that the European Central Bank will widen its stimulus programme. Speculation about further monetary easing in the eurozone pushed the euro lower, while the dollar gave up some of its US gains in...


Dollar eases in Asia after weak China data

By: Web Desk, Uploaded: 21st October 2014

Dollar eases in Asia after weak China data TOKYO- The dollar slipped in Asia on Tuesday as weak Chinese growth data rekindled concerns about the global economy. In Tokyo afternoon trading, the greenback slipped to 106.59 yen against 106.92 yen in New York. The euro rose to $1.2810 from $1.2800, while it weakened to 136.54 yen from 136.86 yen in the US. Traders...


Asia shares slip after China growth data

By: Web Desk, Uploaded: 21st October 2014

Asia shares slip after China growth data HONG KONG- Asian markets mostly sank Tuesday, giving up much of their gains from the previous session, as data showing China’s economy growing at its slowest pace in five years trumped another positive lead from Wall Street. After the wild swings of last week that were fuelled by global growth fears, Monday’s hefty advances across...


BIS chief economist warns of dangers of easy money

By: Web Desk, Uploaded: 20th October 2014

BIS chief economist warns of dangers of easy money FRANKFURT: The current ultra-expansive monetary policy around the world could pose a threat to financial stability, the chief economist of the Bank of International Settlements (BIS) in Basel warned on Monday. In an interview with the German daily Die Welt, the chief economist of the Basel-based BIS, Claudio Borio, warned of the dangers of easy...


Weekly Inflation decrease 1.13 percent

By: Web Desk, Uploaded: 17th October 2014

Weekly Inflation decrease 1.13 percent ISLAMABAD: The Sensitive Price Indicator (SPI) for the week ended on October 16 for the lowest income group up to Rs. 8,000 registered decrease of 1.13 percent as compared to the previous week. The SPI for the week under review in the above mentioned group was recorded at 209.14 points against 211.52 points registered in...


European stock markets rally in initial trading

By: Web Desk, Uploaded: 17th October 2014

European stock markets rally in initial trading LONDON: European stock markets rose at  the start of trading on Friday, the end of an immensely volatile week for shares as investors fear a return to recession in the eurozone. London’s benchmark FTSE 100 index of top companies gained 0.29 percent to open at 6,214.05 points compared with Thursday’s closing level. Frankfurt’s DAX 30...


US STOCKS-S&P 500, Nasdaq end higher with energy; Dow down 6th day

By: Web Desk, Uploaded: 17th October 2014

US STOCKS-S&P 500, Nasdaq end higher with energy; Dow down 6th day NEW YORK: The S&P 500 and Nasdaq eked out slight gains on Thursday after another choppy session, as economic data eased fears about the potential effect of a weakening global economy on the United States. The Dow closed down for sixth straight session, matching a six-day losing streak in August of last year and leaving...


Google shares hit as profit dips

By: Web Desk, Uploaded: 17th October 2014

Google shares hit as profit dips SAN FRANCISCO: Google said Thursday its profit in the past quarter dipped slightly from a year earlier, even as revenues for the technology giant showed a sharp increase. Net third quarter profit fell five percent from the same period a year ago to $2.8 billion, while revenue grew 20 percent to $16.5 billion. Shares in...


Wall Street pulls Europe out of German gloom

By: Web Desk, Uploaded: 15th October 2014

Wall Street pulls Europe out of German gloom LONDON: Strong earnings on Wall Street helped revive European equities on Tuesday after they sank in early trading on gloomy German sentiment and a cut in growth forecasts. London’s benchmark FTSE 100 index ended the day up 0.42 percent at 6,392.68 points, while in Paris the CAC 40 gained 0.23 percent to 4,088.25 points and...


Asian markets sink further on global economy fears

By: Web Desk, Uploaded: 13th October 2014

Asian markets sink further on global economy fears HONG KONG: Most Asian markets came under fresh selling pressure Monday, while the dollar dipped and oil hit multi-year lows, following another round of losses on Wall Street fuelled by global growth concerns. However, Shanghai pared initial heavy losses and Hong Kong ended in positive territory after Chinese official data showed a better than expected...


European shares turn positive as low oil price lifts airline stocks

By: Web Desk, Uploaded: 13th October 2014

European shares turn positive as low oil price lifts airline stocks LONDON: European stock markets turned positive on Monday, recovering from earlier losses, with airline stocks such as Lufthansa and Air France-KLM boosted by a further  drop in the oil price. The euro zone’s blue-chip Euro STOXX 50 index was up by 0.2 percent.Germany’s DAX also advanced by 0.2 percent, although the DAX remained near one-year...


Yen up against dollar in Asia on global growth fears

By: Web Desk, Uploaded: 13th October 2014

Yen up against dollar in Asia on global growth fears SINGAPORE: The yen rose against the dollar in Asia Monday as concerns over the global economy sent traders fleeing to safer investments, analysts said. The dollar slipped to 107.15 yen in midday Singapore trade from 107.65 yen in New York late Friday. Japanese financial markets are closed for a public holiday. The euro was at...


Pakistan reforms on track, extra $1.1 bln likely-IMF official

By: Web Desk, Uploaded: 13th October 2014

Pakistan reforms on track, extra $1.1 bln likely-IMF official WASHINGTON: Pakistan’s economic reforms are broadly on track and the International Monetary Fund could release an extra $1.1 billion in early December, the IMF’s Pakistan mission chief said on Sunday. Jeffrey Franks said there had been very good talks with Pakistani officials, including Finance Minister Ishaq Dar and Central Bank Governor Ashraf Wathra, about the...


Asian markets tumble on renewed global concerns

By: Web Desk, Uploaded: 10th October 2014

Asian markets tumble on renewed global concerns HONG KONG: Asian shares and the dollar sank Friday on growing concerns about the global economy while the head of the IMF warned the eurozone could slip into recession if governments do not act. Investors took their lead from a heavy sell-off on Wall Street, which wiped out the previous day’s Federal Reserve-fuelled gains. Fears...


Yen rises on global economy worries

By: Web Desk, Uploaded: 10th October 2014

Yen rises on global economy worries TOKYO- The yen picked up strength in Asia on Friday as dealers sought out safer bets after poor German data and an IMF warning of possible eurozone recession exacerbated concerns about the global economy. The dollar, which touched a six-year high above 110 yen last week, slipped to 107.80 yen from 107.84 yen in New...


FPCCI committee meets on Friday to review losses caused by sit-ins

By: Web Desk, Uploaded: 9th October 2014

FPCCI committee meets on Friday to review losses caused by sit-ins ISLAMABAD: The executive committee of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) will meet on Friday to review economic losses being caused by the ongoing sit-ins in the Federal Capital, besides approving the election schedule. FPCCI chief Zakaria Usman will chair the session at the federation’s headquarter, which will be attended by all...


Sit-ins inflicting huge daily loss to economy:Governor

By: Web Desk, Uploaded: 5th October 2014

Sit-ins inflicting huge daily loss to economy:Governor LAHORE: Punjab Governor Chaudhary Muhammad Sarwar Sunday said that sit-ins are inflicting billions of rupees daily loss to national economy, besides hampering economic growth. Talking to a high level delegation of trade leaders drawn across the country led by Chairman United Businessman Group and VP SAARC chamber of commerce and industry Iftikhar Ali Malik,the Governor...


USA is committed to strong US-Pak relations

By: Web Desk, Uploaded: 2nd October 2014

USA is committed to strong US-Pak relations KARACHI: United States of America is committed to a strong bilateral relationship and to further strengthening of economic cooperation between the two countries,said US Consul General in Karachi, Brian Heath. He, in his brief speech during his visit to Karachi Stock Exchange, acknowledged the importance of Karachi as Pakistan’s financial and commercial capital, said KSE...


Dollar slips further in Asia after US data

By: Web Desk, Uploaded: 2nd October 2014

Dollar slips further in Asia after US data TOKYO- The dollar lost more ground in Asia on Thursday after tumbling in New York following weak US and European data that led to renewed concerns about the global economy. In Tokyo the greenback slipped to 108.75 yen, from 108.91 yen in New York, where it sank from levels above 110 yen seen earlier Wednesday...


Trade Not Aid, guiding principle for government: Ishaq Dar

By: Web Desk, Uploaded: 29th September 2014

Trade Not Aid, guiding principle for government: Ishaq Dar ISLAMABAD: Federal Minister for Finance, Senator Muhammad Ishaq Dar said Monday that “trade not aid” was the guiding principle for the government. Speaking at Air Headquarters,  on the topic “Trade, Aid and Development: Lessons for Pakistan” the minister said the government fully realizes the potential of trade development adding the global gains from trade liberalization...


Dollar pushes towards 110 yen in Asia

By: Web Desk, Uploaded: 29th September 2014

Dollar pushes towards 110 yen in Asia TOKYO- The dollar rose Monday after data showed the US economy grew more than first thought in April-June, while it hit a six-month high against the Hong Kong dollar after weekend unrest in the southern Chinese city. Analysts said the US unit would break the 110 yen threshold “sooner or later” as the US economy...


 
 
 



 
 
 



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