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Thursday 30, July 2015
 
 
 
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Market


Treasury bills: Slow proceedings

By: Web Desk, Uploaded: 10th July 2015

Treasury bills: Slow proceedings Editorial With interest rates down, the treasury market is not a place these days it used to be last year. Banks participation in the previous few treasury bills and PIB auctions has been rather dull, albeit expectedly. Not that the borrower would be too disturbed at missing the target for the fiscal year FY16 first...


SMEs struggle with access to finance

By: Web Desk, Uploaded: 10th July 2015

SMEs struggle with access to finance Editorial Time and again reports on small and medium enterprises (SMEs) bring home the point that SMEs are the backbone of the economy. The central banks latest report on SME financing is no different. It starts off by saying that SMEs significantly contribute to GDP growth, exports and employment generation. Yet the share of SMEs...


Facebook to Share Ad Revenue With Video Creators

By: Web Desk, Uploaded: 2nd July 2015

Facebook to Share Ad Revenue With Video Creators WEB DESK:Facebook said it would begin sharing ad revenue with video creators, a move designed to attract more polished content and more ads, the Wall Street Journal reported. If successful, the effort will make Facebook a more serious threat to Google Inc.’s and Youtube in online videos. Facebook users watch videos four billion times a...


Relations with India in deep freeze: Dastgir

By: Web Desk, Uploaded: 2nd July 2015

Relations with India in deep freeze: Dastgir by Mushtaq Ghumman ISLAMABAD:Commerce Minister Engineer Khurram Dastgir has said that relations with India are practically in deep freeze and situation is worsening with every passing month instead of improving due to Indian leadership’s attitude. Commerce Minister’s comments came a few days after the Indian Prime Minister Narendra Modi phoned his Pakistani counterpart Prime Minister...


Bank Holiday

By: Web Desk, Uploaded: 30th June 2015

Bank Holiday KARACHI:The State Bank of Pakistan will remain closed for public dealing on July 01, 2015 (Wednesday) declared as bank holiday. All banks/DFIs/MFBs shall, therefore, remain closed for public dealing on the above date. However, all employees of the banks/DFIs/MFBs will attend the office as...


Hong Kong stocks end up 1.20%

By: Web Desk, Uploaded: 22nd June 2015

Hong Kong stocks end up 1.20% HONG KONG: Hong Kong stocks rose 1.20 percent Monday as news that Greece had proposed new reforms fanned hopes it can end a five-month standoff with creditors and unlock bailout cash to avert a default. The benchmark Hang Seng Index added 320.32 points to close at 27,080.85 on turnover of HK$90.57 billion (US$11.69 billion). Mainland...


Clicking tourism in Pakistan

By: Web Desk, Uploaded: 12th June 2015

Clicking tourism in Pakistan An interview with Paul Midy- CEO of Jovago.com By Asim Mallick KARACHI: Paul Midy is the Global CEO of Jovago.com- a website which lists hotels and guesthouses from all over Pakistan- linking tourists and the hotel industry. Midy completed his undergraduate studies from Ecole Poly-technique, France after which he went to Columbia University to pursue...


Tomato price soars

By: Web Desk, Uploaded: 29th May 2015

Tomato price soars KARACHI: The simple joy of adding tomatoes in curry is a thing of the past. Prices for tomatoes have soared to Rs100 per kilo, Aaj News reported. Previously a kilo cost about Rs35. Every year in the summers prices for tomatoes soar. Shopkeepers blamed the wholesalers for this surge in rates. “This is happening before...


Next, SHB help European shares edge up after results

By: Web Desk, Uploaded: 29th April 2015

Next, SHB help European shares edge up after results LONDON: European shares edged up early on Wednesday, helped by better-than-expected results from UK clothing retailer Next, Swedish bank Handelsbanken and Dutch nutritional supplements DSM, among others. The three stocks, up between 1.6 percent and 3 percent, were among the top gainers on the pan-European FTS Euro first 300 index, which was up 0.3 percent...


Oil prices down in Asian trade

By: Web Desk, Uploaded: 28th April 2015

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Tuesday after a senior Saudi official signaled that the world’s top crude exporter has no intention of cutting production despite a global supply glut, analysts said. US benchmark West Texas Intermediate fell 76 cents to $56.23 while Brent eased 66 cents to $64.17 in mid-morning trade. “Saudi Arabia is...


Tokyo stocks close 0.38% higher

By: Web Desk, Uploaded: 28th April 2015

Tokyo stocks close 0.38% higher TOKYO: Tokyo stocks ended 0.38 percent higher Tuesday, led by a surge in factory robotics giant Fanuc, while investors await earnings by major Japanese firms and a US Federal Reserve policy meeting. The Nikkei 225 index at the Tokyo Stock Exchange added 75.63 points to 20,058.95 at the close, while the Topix index of all...


Europeans keen to invest in Karachi’s infrastructure: Stefano

By: Web Desk, Uploaded: 22nd April 2015

Europeans keen to invest in Karachi’s infrastructure: Stefano KARACHI: European countries are keen to make more investment in Karachi in the fields of energy, infrastructure, agriculture and fisheries, as it is an ideal place for business. This was stated by Stefano Gato, who as the head of a European Union’s (EU) delegation called on Sindh Governor Dr. Ishratul Ebad at Governor House, here...


Bank of Canada maintains key lending rate at 0.75%

By: Web Desk, Uploaded: 15th April 2015

Bank of Canada maintains key lending rate at 0.75% OTTAWA: Canada’s central bank maintained its key lending rate at 0.75 percent Wednesday, saying the plunge in oil prices appears to have “stalled” the Canadian economy. Growth is expected to rebound mid-year and subsequently strengthen to 1.9 percent for 2015 — revised downward from 2.1 percent a few months ago — as exports pick up,...


Kuwait’s oil facilities remain on alert due to Yemen:KUNA

By: Web Desk, Uploaded: 15th April 2015

Kuwait’s oil facilities remain on alert due to Yemen:KUNA ABU DHABI: State-run Kuwait Petroleum Corp (KPC) and all affiliated firms remain on alert, state news agency KUNA said on Wednesday, three weeks after Saudi Arabia and Arab allies began military strikes against Houthi militias in Yemen. The agency quoted Sheikh Talal al-Khaled al-Sabah, the spokesperson for the country’s oil sector and chief executive of...


Pakistan received $ 17 billion foreign remittances in 2014 : WB

By: Web Desk, Uploaded: 14th April 2015

Pakistan received $ 17 billion foreign remittances in 2014 : WB WASHINGTON: Reflecting a robust growth, Pakistan received a total of $ 17,060 million in foreign remittances during the year 2014, according to the World Bank data released this week. Officially recorded remittances to the developing world are expected to reach $440 billion in 2015, an increase of 0.9 percent over the previous year. Global remittances,...


Asia shares hesitate, Singapore stands pat on policy

By: Web Desk, Uploaded: 14th April 2015

Asia shares hesitate, Singapore stands pat on policy SYDNEY: Asian share markets got off to a hesitant start on Tuesday as Singapore disappointed expectations of policy easing while Wall Street was weighed down by worries over the corporate earnings season. The Monetary Authority of Singapore (MAS) kept its policy unchanged, contrary to the expectation of majority of 25 analysts polled by Reuters. The...


CNG sector initiates serious efforts on LNG import

By: Web Desk, Uploaded: 13th April 2015

CNG sector initiates serious efforts on LNG import ISLAMABAD: Leader of the CNG sector Ghiyas Abdullah Paracha on Monday said that CNG sector initiated serious efforts on LNG for CNG project. In a statement, he said that over eight hundred CNG stations in Punjab accepted LNG as fuel. He said that CNG sector has the ability to import CNG in line with the...


Oil prices edge higher

By: Web Desk, Uploaded: 10th April 2015

Oil prices edge higher LONDON: Oil prices nudged higher on Friday, further recovering from a steep dive seen mid-week, although demand is set to remain shackled by a global supply glut, analysts said. US benchmark West Texas Intermediate for delivery in May edged up one cent to $50.80 a barrel. Brent North Sea crude for May gained 27 cents...


Tokyo stocks down by break after Nikkei briefly tops 20,000

By: Web Desk, Uploaded: 10th April 2015

Tokyo stocks down by break after Nikkei briefly tops 20,000 TOKYO: Tokyo stocks were marginally lower by the break on Friday, after the benchmark Nikkei index briefly burst through the 20,000 level last seen 15 years ago. The Nikkei 225 index reached 20,006.00 in opening trade, but soon retreated and ended the morning at 19,920.86, down 16.86 points. The Topix index of all first-section issues...


Pakistan has succeeded in stabilizing its economy:IMF

By: Web Desk, Uploaded: 8th April 2015

Pakistan has succeeded in stabilizing its economy:IMF ISLAMABAD: International Monetary Fund (IMF) said on Wednesday that Pakistan has succeeded in stabilizing its economy, but steady implementation of reforms would be vital if the country hoped to find a place among the world’s fast-growing emerging markets. A latest statement cum interview of Jeffrey Franks, the IMF’s outgoing mission chief for Pakistan said that...


Oil prices down in Asian trade

By: Web Desk, Uploaded: 8th April 2015

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Wednesday on profit-taking after the previous day’s sharp gains, with traders expecting another rise in US inventories, analysts said. US benchmark West Texas Intermediate (WTI) for May delivery declined $1.03 to $52.95 and Brent crude for May dropped 64 cents to $58.46 in late-morning trade. On Tuesday WTI rose...


World Bank ready to share experience with China-proposed AIIB

By: Web Desk, Uploaded: 8th April 2015

World Bank ready to share experience with China-proposed AIIB ISLAMABAD: World Bank welcomes the new development banks, such as China-proposed Asian Infrastructure Investment Bank (AIIB) and the New Development Bank established by the BRICS countries, and is ready to share experience with them, World Bank President Jim Yong Kim has said. The new multilateral banks could help bridge financing gaps in areas such as...


Bank of Japan holds off further easing measures

By: Web Desk, Uploaded: 8th April 2015

Bank of Japan holds off further easing measures TOKYO: The Bank of Japan held off further easing measures on Wednesday as it struggles to drag up the country’s flatlining inflation that is defying a massive stimulus programme launched two years ago. The central bank stayed pat on its record stimulus programme, which is adding about 80 trillion yen ($663 billion) to the money...


Asian shares surge, attention on Fed minutes

By: Web Desk, Uploaded: 8th April 2015

Asian shares surge, attention on Fed minutes HONG KONG: Asian markets rallied Wednesday in the first full day of trade since the Easter weekend, with Hong Kong surging as it reacted for the first time to weak US jobs data that reduced the chances of a rate hike any time soon. With investors awaiting the release of minutes from the Federal Reserve’s...


Pakistan’s GDP growth set to rise with robust recovery: IMF

By: Web Desk, Uploaded: 7th April 2015

Pakistan’s GDP growth set to rise with robust recovery: IMF WASHINGTON: Pakistan’s “macroeconomic picture is improving” steadily and the country’s GDP is projected to grow by 4.3 percent this year with further expansion in growth expected next year and in the medium-term, the International Monetary Fund (IMF) said Tuesday. The real GDP is projected to grow by some 4.3 percent in FY2014/15,driven mainly by the...


China stocks close up strongly after holiday

By: Web Desk, Uploaded: 7th April 2015

China stocks close up strongly after holiday SHANGHAI: Shanghai shares surged 2.52 percent on Tuesday after a long holiday weekend, lifted by hopes for further monetary easing by Chinese authorities, dealers said. The benchmark Shanghai Composite Index jumped 97.45 points to 3,961.38 — its highest close since March 14, 2008 — on turnover of 746.4 billion yuan ($121.8 billion). The Shenzhen Composite...


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