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Friday 25, July 2014

 
 
 




 

Economy


Yen advances in Asian trade

By: Web Desk, Uploaded: 21st July 2014

Yen advances in Asian trade SINGAPORE- The yen strengthened in Asia Monday as investors sought out lower-risk investments as a hedge against geopolitical uncertainty fuelled by the MH17 tragedy and Israel’s ground offensive in Gaza, analysts said. The dollar bought 101.26 yen in midday trade against 101.36 yen on Friday in New York, while the euro fetched 137.040 yen compared...


US oil prices rise following bullish inventory report

By: Web Desk, Uploaded: 17th July 2014

US oil prices rise following bullish inventory report NEW YORK: Oil prices shot back above $100 a barrel in New York after a US petroleum inventory report showed a big drop in crude stocks and higher refinery activity levels. US benchmark West Texas Intermediate for August delivery gained $1.25 to close at $101.20 a barrel on the New York Mercantile Exchange. WTI Tuesday...


Dollar rises in Asia on Fed chief rate comments

By: Web Desk, Uploaded: 16th July 2014

Dollar rises in Asia on Fed chief rate comments TOKYO- The dollar rose in Asia on Wednesday as the head of the US Federal Reserve indicated that interest rates could rise earlier than expected if the world’s biggest economy continues to pick up pace. In Tokyo afternoon trade, the dollar bought 101.73, up a tad from 101.67 yen late in New York and 101.50...


US oil below $100 for first time in two months

By: Web Desk, Uploaded: 16th July 2014

US oil below $100 for first time in two months NEW YORK : Global oil prices dropped Tuesday, with the US futures contract sinking below $100 for the first time since May on receding worries about Iraq supply disruptions. US benchmark West Texas Intermediate for August fell 95 cents to close at $99.96 a barrel on the New York Stock Exchange.WTI had not finished below...


BRICS to create development bank, ‘mini-IMF’

By: Web Desk, Uploaded: 15th July 2014

BRICS to create development bank, ‘mini-IMF’ FORTALEZA: Leaders of the BRICS  group of emerging powers meet Tuesday to launch a new development bank and a reserve fund seen as counterweights to Western-led financial institutions. Brazilian President Dilma Rousseff hosts the leaders of Russia, India, China and South Africa in Fortaleza on Tuesday before talks with South American leaders the next day...


Dollar, euro hold gains against yen after BoJ meeting

By: Web Desk, Uploaded: 15th July 2014

Dollar, euro hold gains against yen after BoJ meeting TOKYO- The dollar and euro maintained recent gains against the yen on Tuesday after the Bank of Japan held off expanding its huge stimulus programme. After a two-day meeting the central bank said the world’s number three economy was recovering despite activity taking a hit from an April sales tax hike. The dollar fetched 101.61...


Yen weakens in Asia as Bank of Japan starts meeting

By: Web Desk, Uploaded: 14th July 2014

Yen weakens in Asia as Bank of Japan starts meeting TOKYO- The yen weakened in Asian trade Monday as the Bank of Japan kicked off a two-day policy meeting, with investors also eying testimony from the head of the US Federal Reserve this week. In Tokyo midday trading, the greenback rose 101.37 yen, up from 101.23 yen in New York on Friday, while the euro...


Oil prices mixed in Asian trade

By: Web Desk, Uploaded: 11th July 2014

Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Friday as fears recede about major supply disruptions in the Middle East, analysts said. US benchmark West Texas Intermediate for August delivery eased two cents to $102.91 while Brent crude was up six cents at $108.73 in mid-morning trade. Sanjeev Gupta, head of the Asia-Pacific oil and gas...


Dollar weakens in Asia after Fed minutes

By: Web Desk, Uploaded: 10th July 2014

Dollar weakens in Asia after Fed minutes TOKYO- The dollar eased in Asia Thursday as minutes from the Federal Reserve’s June meeting suggested interest rates would stay low well into next year. Indonesia’s rupiah rallied as several polls indicated the pro-business candidate is set to become the next president of Southeast Asia’s biggest economy. In Tokyo afternoon trading, the greenback fetched 101.53...


Oil prices extend losses as supply worries ease

By: Web Desk, Uploaded: 9th July 2014

Oil prices extend losses as supply worries ease NEW YORK: Oil prices extended their losing streak Tuesday as concerns eased about supply disruptions from the Middle East, with Libya exports set to resume and Iraq unrest not yet affecting exports. US benchmark West Texas Intermediate for August fell 13 cents to $103.40 a barrel on the New York Mercantile Exchange, its eighth straight...


Dollar under pressure in Asia ahead of Fed minutes

By: Web Desk, Uploaded: 9th July 2014

Dollar under pressure in Asia ahead of Fed minutes TOKYO- The dollar faced selling pressure in Asia on Wednesday as investors await the release of minutes from the Federal Reserve’s policy meeting last month. In midday Tokyo trading, the greenback was quoted at 101.54 yen, against 101.57 yen in New York Tuesday. The euro bought $1.3614 and 138.23 yen, from $1.3611 and 138.24 yen....


Yen gains in Asia after US stocks fall

By: Web Desk, Uploaded: 8th July 2014

Yen gains in Asia after US stocks fall TOKYO- The yen rose against the dollar and euro Tuesday as cautious investors retreated to the Japanese currency after two of Wall Street’s main indexes slid from its recent record highs. The dollar weakened to 101.75 yen in Tokyo midday trade from 101.87 yen late in New York and 102.11 yen in Tokyo earlier Monday....


Dollar holds up ahead of Fed minutes release

By: Web Desk, Uploaded: 7th July 2014

Dollar holds up ahead of Fed minutes release TOKYO- The dollar held up in Asia on Monday after rallying on strong jobs data last week, as investors waited for minutes of the most recent meeting of Federal Reserve policymakers. The greenback bought 102.15 yen in Tokyo midday compared with 102.08 yen on Friday. The euro bought $1.3582 and 138.75 yen on Monday. New...


Dollar sinks deeper after poor US data

By: Web Desk, Uploaded: 30th June 2014

Dollar sinks deeper after poor US data TOKYO- The dollar drifted lower in Asia on Monday as a string of disappointing US data last week put pressure on the currency. The greenback sank to 101.30 yen in afternoon Tokyo trade from 101.45 yen in New York Friday afternoon. The US unit briefly fell to 101.23 yen in earlier trade, its lowest since...


Dollar eases in Asian trade after losses on Wall Street

By: Web Desk, Uploaded: 27th June 2014

Dollar eases in Asian trade after losses on Wall Street TOKYO- The dollar edged down against the yen and the euro in Asian trade on Friday after uninspiring US data and a slide on Wall Street, dealers said. The greenback was changing hands at 101.37 yen in Tokyo late afternoon trade, down from 101.70 yen in New York Thursday afternoon. The euro fetched $1.3628 and...


Asian shares sink after Wall St losses

By: Web Desk, Uploaded: 27th June 2014

Asian shares sink after Wall St losses HONG KONG- Asian markets were mostly lower Friday following losses on Wall Street fueled by anemic US consumer spending, while the dollar and euro extended losses against the yen. Investors were taking a breather ahead of the release next week of key economic data, including on global manufacturing activity, US jobs and Japanese business confidence....


US Senate Committee approves $960mn for Pakistan in 2015; lauds improvement in US-Pak ties

By: Web Desk, Uploaded: 21st June 2014

US Senate Committee approves $960mn for Pakistan in 2015; lauds improvement in US-Pak ties WASHINGTON: The US Senate Committee on Appropriations has approved around $960 million in assistance allocation for Pakistan in the 2015 fiscal year, as the powerful panel acknowledged improved relations between two countries since last year’s elections and urged sustained commitment to common goals. “The Committee recognizes an improvement in bilateral relations following elections in Pakistan,...


Dollar firms in Asia on Japan pension overhaul plan

By: Web Desk, Uploaded: 17th June 2014

Dollar firms in Asia on Japan pension overhaul plan TOKYO- The dollar and euro rose against the yen in Asia on Tuesday as investors bet Japan’s public pension fund, the world’s biggest, will start to shift some of its holdings into foreign assets. In Tokyo, the greenback rose to 102.02 yen from 101.84 yen in New York, although its gains were capped ahead of...


Yen firms in Asia on Iraq, Ukraine jitters

By: Web Desk, Uploaded: 16th June 2014

Yen firms in Asia on Iraq, Ukraine jitters TOKYO: Traders bought the yen on Monday in Asia as fears grow about violent unrest in Iraq and possible gas supply disruptions in Europe tied to the Ukraine crisis. In Tokyo midday trading, the dollar weakened to 101.86 yen compared with 102.04 yen in US trade Friday, while the euro slipped to 137.89 yen from...


Asian shares mostly lower on growing Iraq crisis

By: Web Desk, Uploaded: 16th June 2014

Asian shares mostly lower on growing Iraq crisis HONG KONG: Asian markets were mostly lower on Monday as a positive lead from Wall Street was trumped by fears over the growing crisis in Iraq that has sent oil prices to nine-month highs. The uncertainty fuelled by the insurgency that has seized a swathe of Iraq sent traders into safer assets, with the yen...


Asian shares mixed as rally peters

By: Web Desk, Uploaded: 11th June 2014

Asian shares mixed as rally peters HONG KONG- Asian markets were mixed on Wednesday, with Japan’s Nikkei bouncing back from the previous day’s losses while Hong Kong and Shanghai retreated after recent gains. The Dow on Wall Street marked up yet another record high, but with few catalysts to drive trade, investors stayed on the sidelines, while the euro weakened further...


Govt checked currency speculation, convinced exporters to return money to country: Dar

By: Web Desk, Uploaded: 9th June 2014

Govt checked currency speculation, convinced exporters to return money to country: Dar ISLAMABAD: Minister for Finance Mohammad Ishaq Dar Monday said that government had checked currency speculation and convinced exporters to return money to country to stabilize rupee. The Finance Minister was optimistic about an economic recovery after the rupee had breached the psychologically important 100 to the dollar mark. “The currency had been losing its value...


Govt focusing on energy, development sectors to improve economy: Ishaq Dar

By: Web Desk, Uploaded: 6th June 2014

Govt focusing on energy, development sectors to improve economy: Ishaq Dar ISLAMABAD: Federal Minister for Finance, Ishaq Dar has said that Pakistan Muslim League Nawaz (PML-N), government is taking all important steps to bring improvement in energy sector and for this, a huge amount would be spent to complete several power projects to achieve the objectives. He said that a sufficient amount was allocated in the...


Fresh trade initiatives be taken to promote trade: Khurrum

By: Web Desk, Uploaded: 5th June 2014

Fresh trade initiatives be taken to promote trade: Khurrum ISLAMABAD: Pakistan will undertake fresh trade initiatives with its regional and international trading partners to promote trade and boost economic growth in the country. “It is high time for Pakistan to give primacy to trade and investment in its interaction with the world and focus on trade and investment reforms”, Engr. Khurram Dastgir Khan, Federal...


Govt paying special attention to bring improvement in trade sector: Dastagir

By: Web Desk, Uploaded: 31st May 2014

Govt paying special attention to bring improvement in trade sector: Dastagir ISLAMABAD: Federal Minister for Commerce, Engineer Khurram Dastagir has said that Pakistan Muslim League Nawaz (PML-N), government was paying special attention to bring improvement in trade sector. He said that PML-N government has started several projects for generating electricity to meet the growing demand in the country. Talking to Pakistan Television (PTV), he said the...


PML-N govt launches development projects to facilitate people: Ishaq

By: Web Desk, Uploaded: 31st May 2014

PML-N govt launches development projects to facilitate people: Ishaq ISLAMABAD: Federal Minister for Finance Ishaq Dar has said that Pakistan Muslim League Nawaz (PML-N), government had launched several development projects to improve the economy and facilitate people. He said that Nandipur, Dasu, Bhasha, Neelum-Jhelum and other projects would be completed in near future to meet the growing demand of energy in the country. Talking...


 
 
 



 
 



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