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Sunday 29, March 2015
 
 
 
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Market


Rates for conversion of FCD, DBC, FCBC, US dollar bonds

By: Web Desk, Uploaded: 28th March 2015

Rates for conversion of FCD, DBC, FCBC, US dollar bonds KARACHI: The following rates will be applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special U.S. Dollar Bonds and profits thereon by all banks and for providing Forward Cover on Foreign Currency Deposits (excluding F.E- 25 deposits) by the State Bank on March 30, 2015. The rates...


US economy grew 2.2% in fourth quarter

By: Web Desk, Uploaded: 27th March 2015

US economy grew 2.2% in fourth quarter WASHINGTON: The US economy grew at an annual rate of 2.2 percent in the fourth quarter, slowing sharply from the prior quarter, the Commerce Department said Friday. The department left unrevised its previous estimate of gross domestic product growth, which analysts had expected would be raised to a 2.4 percent pace....


European stocks mixed ahead of Greek deal announcement

By: Web Desk, Uploaded: 27th March 2015

European stocks mixed ahead of Greek deal announcement LONDON: Europe’s main stock markets diverged Friday as dealers awaited news on a deal over Greece’s finances next week, while tracking unrest in Yemen. London’s benchmark FTSE 100 index fell 0.36 percent to stand at 6,870.24 points in midday deals. Frankfurt’s DAX 30 rose 0.65 percent to 11,920.80 points and the CAC 40 in Paris...


Shell Expands its non-fuel retail Network in Collaboration with McDonald’s

By: Web Desk, Uploaded: 26th March 2015

Shell Expands its non-fuel retail Network in Collaboration with McDonald’s Karachi: Shell Pakistan is expanding its non-fuel retail capabilities by leveraging its partnership with McDonald’s. The two major brands announced that several McDonald’s drive-thru outlets will be built at selected Shell fuel stations across the country. The ground breaking ceremony of the first project in this regard was held at Shell’s Askari Filling Station in...


UK stocks hit record high; eurozone markets advance

By: Web Desk, Uploaded: 19th March 2015

UK stocks hit record high; eurozone markets advance LONDON: The British stock  market rallied Thursday to a record peak, propelled by optimism over the government’s budget and after the US Federal Reserve cooled rate hike expectations. Most eurozone stock markets edged higher but Athens fell sharply as investors awaited an EU summit for fresh news on the Greek debt crisis. In morning deals,...


Oil prices extend losses

By: Web Desk, Uploaded: 18th March 2015

Oil prices extend losses LONDON:  Oil prices extended losses in Wednesday to six-year lows on expectations that US crude stockpiles will rise further, in a market already awash with supplies, analysts said. The New York price slid to $42.05 a barrel — the lowest level since March 2009. US benchmark West Texas Intermediate for delivery in April later stood...


US oil price hits six-year low

By: Web Desk, Uploaded: 16th March 2015

US oil price hits six-year low LONDON:  New York oil prices sank to a six-year low on Monday, falling below $44 per barrel as the market was plagued by plentiful supplies and the strong dollar. In earlier deals, US benchmark West Texas Intermediate (WTI) for April delivery dived as low as $43.57 — hitting the lowest since March 12, 2009. The...


Oil prices down in Asian trade

By: Web Desk, Uploaded: 16th March 2015

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Monday during more volatile trading as dealers fret over bulging global supplies and a strengthening US dollar, analysts said. US benchmark West Texas Intermediate (WTI) slipped 47 cents to $44.37 while Brent was down 46 cents at $54.21 in late-morning trade. WTI lost $2.21 and Brent plunged $2.41 on...


Asia stocks mostly up after weak US data tame rate talk

By: Web Desk, Uploaded: 13th March 2015

Asia stocks mostly up after weak US data tame rate talk HONG KONG: Asian markets mostly rose Friday following a surge on Wall Street after unexpectedly weak US data tempered talk of an interest rate hike by summer. Despite the easing rate expectations, the dollar maintained its strength against the euro after retreating from Thursday’s multi-year highs. Tokyo surged 1.39 percent, or 263.14 points, to finish...


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...


India cbank eases bank loan rules for low-cost housing

By: Web Desk, Uploaded: 6th March 2015

India cbank eases bank loan rules for low-cost housing MUMBAI: India’s central bank has allowed lenders to add the cost of registration and stamp duty in the total cost of a house valued at not more than 1 million rupees ($16,000) for determining the maximum loan the property can get, in a move aimed at boosting availability of affordable housing. “It has been brought...


US stocks rise after $21 bn AbbVie-Pharmacyclics deal

By: Web Desk, Uploaded: 5th March 2015

US stocks rise after $21 bn AbbVie-Pharmacyclics deal NEW YORK: US stocks opened higher ending a two-day downturn Thursday, with AbbVie’s $21 billion takeover of cancer drug developer Pharmacyclics giving a charge to buyers. Ten minutes into trade, the Dow Jones Industrial Average was up 18.46 points (0.10 percent) at 18,115.36. The broad-based S&P 500 gained 1.34 (0.06 percent) at 2,099.87, while the...


Gold flat around $1,200/oz ahead of ECB meeting, U.S. data

By: Web Desk, Uploaded: 5th March 2015

Gold flat around $1,200/oz ahead of ECB meeting, U.S. data LONDON: Gold steadied around $1,200 an ounce on Thursday after a three-day losing streak, as investors remained cautious ahead of a European Central Bank meeting set to give details on its massive bond-buying programme and the release of key U.S. economic data. The ECB is expected to detail the 1 trillion euro quantitative easing (QE)...


US stocks slip for 2nd day after record run

By: Web Desk, Uploaded: 4th March 2015

US stocks slip for 2nd day after record run NEW YORK: US stocks opened lower for a second day Wednesday after the run that saw new Dow and S&P records and a 15-year high for the Nasdaq on Monday. Five minutes into trade, the Dow Jones Industrial Average was off 71.63 points (0.39 percent) to 18,131.74. The broad-based S&P 500 fell 8.89 (0.42 percent)...


Moody’s treating to CPEC a credit positive, reflective of economic significance of project: Dar

By: Web Desk, Uploaded: 3rd March 2015

Moody’s treating to CPEC a credit positive, reflective of economic significance of project: Dar ISLAMABAD: Finance Minister, Mohammad Ishaq Dar here onTuesday said that Moody’s consideration of government’s commitment to implement China-Pakistan Economic Corridor (CPEC) as a credit positive for Pakistan, is not only reflective of the economic worth of this project but also manifests government’s sincerity to achieve an economic turnaround based on continued agenda of reforms. In...


Wall St to dip at open after latest records, Nasdaq 5,000

By: Web Desk, Uploaded: 3rd March 2015

Wall St to dip at open after latest records, Nasdaq 5,000 NEW YORK: U.S. stocks were set for a modestly lower open on Tuesday, after the Dow and S&P marched to new record highs and the Nasdaq topped the 5,000 mark for the first time in 15 years. The Nasdaq notched its first close above the 5,000 milestone since March 10, 2000, buoyed by merger activity,...


US stocks retreat; Best Buy lifts dividend

By: Web Desk, Uploaded: 3rd March 2015

US stocks retreat; Best Buy lifts dividend NEW YORK: Wall Street stocks Tuesday retreated a day after the Nasdaq topped 5,000 for the first time in 15 years, as electronics retailer Best Buy announced big shareholder payouts. Five minutes into trade, the Dow Jones Industrial Average was at 18,251.99, down 36.64 points (0.20 percent). The broad-based S&P 500 shed 5.76 (0.27 percent)...


Oil market gains ground

By: Hassaan Ali, Uploaded: 3rd March 2015

Oil market gains ground LONDON: Global oil prices rose Tuesday but gains were limited as dealers sat on the sidelines eyeing negotiations aimed at ending a strike at some US crude refineries, analysts said. European benchmark Brent North Sea crude for April delivery won $1.22 to $60.76 a barrel in London midday deals. New York’s West Texas Intermediate (WTI)...


Asian markets rise after China rate cut, US data

By: Web Desk, Uploaded: 2nd March 2015

Asian markets rise after China rate cut, US data HONG KONG: Asian markets rose Monday after China at the weekend cut interest rates for the second time since November, while better-than-forecast US economic data helped push the dollar up against the yen. Investors will also be watching several key events this week, including political gatherings in China, a meeting of the European Central Bank...


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...


US consumer prices fall 0.7% in January

By: Web Desk, Uploaded: 26th February 2015

US consumer prices fall 0.7% in January WASHINGTON: Plunging gasoline prices pulled US consumer prices down sharply in January, giving the consumer price index its first 12-month fall since 2009, the Commerce Department reported Thursday. The official CPI fell 0.7 percent in January from December, on the back of an 18.7 percent drop in gas prices and 9.7 percent fall for energy...


Oil market holds steady

By: Web Desk, Uploaded: 26th February 2015

Oil market holds steady LONDON:  World oil prices steadied Thursday, following solid gains the previous day, as dealers digested a mixed US energy stockpiles report, analysts said. European benchmark Brent North Sea crude for April delivery climbed  13 cents to $61.76 a barrel in London afternoon deals. New York’s West Texas Intermediate (WTI) for April dipped 59 cents to...


SEC probes companies’ treatment of whistleblowers – WSJ

By: Web Desk, Uploaded: 26th February 2015

SEC probes companies’ treatment of whistleblowers – WSJ The U.S. Securities and Exchange Commission has sent letters to several companies asking for years of nondisclosure agreements, employment contracts and other documents to investigate whether companies are muzzling corporate whistleblowers, the Wall Street Journal reported. The inquiries come as SEC officials have expressed concern about a possible corporate backlash against whistleblowers, the newspaper said....


Bullion prices on Wednesday

By: Web Desk, Uploaded: 25th February 2015

Bullion prices on Wednesday KARACHI: Following were the bullion prices in Karachi, Multan and Hyderabad on Wednesday. KARACHI:  (per 10 gram) Gold Tezabi 24 CT        Rs.    40928 Silver Tezabi                 Rs.      582.85 MULTAN:  (per 10 gram) Gold Tezabi-24 CT  Rs.   40380.00 Gold 22 CT               Rs.   36910.00 Silver Tezabi            Rs.     600.00 Silver Thobi             Rs.     550.00 HYDERABAD: (per 10 gram) Gold  24                 ...


Oil gains ground before US energy report

By: Web Desk, Uploaded: 25th February 2015

Oil gains ground before US energy report LONDON:  World oil prices rose Wednesday, but gains were limited before a key report expected to show further build-up in US crude inventories, dealers said. US benchmark West Texas Intermediate (WTI) for April delivery rose 10 cents to $49.38 a barrel. Brent North Sea crude for April climbed 25 cents to stand at $58.91 a...


Oil prices mixed ahead of US supply report

By: Web Desk, Uploaded: 25th February 2015

Oil prices mixed ahead of US supply report SINGAPORE: Oil prices were mixed in Asia Wednesday ahead of a key report expected to show further build-up in US crude inventories, hitting prices in an already oversupplied market, analysts said. US benchmark West Texas Intermediate (WTI) for April delivery fell 16 cents to $49.12 while Brent crude for April gained 13 cents to $58.79...


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