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Tuesday 28, April 2015
 
 
 
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Market


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...


Oil prices edge lower as Iran nuclear deadline approaches

By: Web Desk, Uploaded: 4th April 2015

Oil prices edge lower as Iran nuclear deadline approaches SINGAPORE: Oil prices fell in Asia Tuesday as dealers monitored last-ditch efforts between global powers and Iran to reach a deal on Tehran’s nuclear programme and ease sanctions imposed on the crude producer. US benchmark West Texas Intermediate fell 69 cents to $47.99 while Brent eased 55 cents to $55.74 in mid-day trade. Singapore United...


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

By: Web Desk, Uploaded: 3rd April 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 April 6, 2015. The rates...


Mobicash and TPL Trakker to Provide Cash-less Travel Solution to Commuters

By: Web Desk, Uploaded: 3rd April 2015

Mobicash and TPL Trakker to Provide Cash-less Travel Solution to Commuters Lahore: Mobicash has signed an agreement with TPL Trakker Limited to provide e-Ticketing solutions to commuters of Lahore Transport Company (LTC) at a signing ceremony held at Chief Minister Secretariat, Lahore. Through this first of its kind cash-less travel service, commuters will be able to use LTC’s bus services by loading cash onto their TPL...


Dollar under pressure ahead of US jobs report

By: Web Desk, Uploaded: 2nd April 2015

Dollar under pressure ahead of US jobs report TOKYO: The dollar was under pressure on Thursday after a batch of weak US data dented hopes for an early interest rate hike, with investors awaiting a key jobs report. In Tokyo, the greenback weakened to 119.64 yen from 119.76 yen in New York. The euro rose to $1.0773 and 128.89 yen, from $1.0760 and...


Oil drops to $55 as Iran nuclear talks intensify

By: Web Desk, Uploaded: 31st March 2015

Oil drops to $55 as Iran nuclear talks intensify LONDON: Brent crude oil dropped towards $55 a barrel on Tuesday as Iran and six world powers entered a final day of talks over a nuclear deal that could see the energy-rich country increase oil exports to world markets. With a self-imposed deadline set for the end of the day, the United States, Britain, France,...


US stocks jump on UnitedHealth deal

By: Hassaan Ali, Uploaded: 30th March 2015

US stocks jump on UnitedHealth deal NEW YORK: US stocks jumped Monday in early trade helped by news that Dow member UnitedHealth would pay $12.8 billion for rival pharmacy-benefit manager Catamaran. About 35 minutes into trade, the Dow Jones Industrial Average stood at 17,972.64, up 259.98 points (1.47 percent). The broad-based S&P 500 surged 20.16 (0.98 percent) to 2,081.18, while the...


Oil prices drop as oversupply fears outweigh Yemen

By: Hassaan Ali, Uploaded: 30th March 2015

Oil prices drop as oversupply fears outweigh Yemen LONDON: Oil sank Monday as an oversupplied market offset concerns over unrest in the crude-rich Middle East, where Saudi-led warplanes have struck rebel targets in Yemen. Brent North Sea crude for delivery in May slid $1.04 to $55.39 a barrel in London afternoon deals. US benchmark West Texas Intermediate (WTI) for May shed $1.10 to...


Oil prices down in Asian trade

By: Web Desk, Uploaded: 30th March 2015

Oil prices down in Asian trade SINGAPORE: Oil prices eased in Asia Monday but analysts said losses were tempered by supply concerns in the crude-rich Middle East after Saudi-led warplanes struck rebel targets in Yemen. US benchmark West Texas Intermediate for May delivery fell 71 cents to $48.16 and Brent crude for May eased 35 cents to $56.06 in late-morning trade....


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...


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