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Commodity prices mainly retreat
LONDON: Commodity prices mostly weakened this week, hit by a stronger dollar and falling demand for raw materials amid persistent concerns about the state of the troubled global economy, according to analysts. Figures published Wednesday revealed that the dogged recession across the Eurozone has snared key economy France. In Brussels, French President Francois Hollande tipped 'zero' ...
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Stock market expected to remain bullish next week
Celebrating the successful general elections, the Karachi Stock Exchange benchmark 100-index surged by 621 points in the week to a new all-time high of 20,537.03 points, while during the next week the index would continue to move upward, if there appears no political setback, dealers said. Analysts say that the market witnessed correction during the week and could further go through that but ...
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Port Qasim handles 61825 tons of cargo
Port Qasim handled a cargo volume of 61,825 tons during the last 24 hours that included 34,600 tons of imports and 27,225 tons of exports, the Port Qasim Authority (PQA) reported on Saturday. Accordingly, the port handled imports, including containerised cargo (21,600 tons), and palm oil (13,000 tons). It handled exports, including containerised cargo (25,280 tons), and rice (1,945 tons). Berth ...
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Rupee to remain under pressure
Karachi The local currency market witnessed a mixed trend this week. However, it may see volatile trading session in the coming week, amid payment of another installment of loan to the International Monetary Fund (IMF), which is scheduled for May 24, currency experts said. Traders have expressed concern over the dwindling foreign exchange reserves of the State Bank of Pakistan (SBP) and the ...
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Gold hits one-month low
Gold fell for a seventh straight session on Friday, its longest losing streak in four years, as the dollar rose to the highest since 2008 after some Federal Reserve officials said the central bank should end its stimulus for the US economy. Investors also rejected gold's safe-haven lure after a May reading for US consumer sentiment hit a near six-year high, showing Americans are feeling ...
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Oil rallies for third day
Oil rose for a third straight session on Friday, supported by a raft of strong economic data from top oil consumer the United States that also boosted US equities, even as the dollar hit a multi-year high. The Conference Board's Leading Economic Index, a gauge of future US economic activity, rose in April to its highest level in nearly five years, and US consumer sentiment rebounded in ...
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PSO launches Fuel Smart Cards
KARACHI- May 18th, 2013: Striving to provide ever greater value to its customers, Pakistan State Oil (PSO) has reached yet another technological milestone by introducing chip-based Smart Cards. These fuel cards are the first of their kind to be launched by any OMC in Pakistan. The formal launch ceremony was organized under the theme of "Your World Just Got Smarter!" at DHA Golf Club, ...
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France must take deficit cuts seriously Bundesbank chief
France has a special responsibility as a euro zone heavyweight to take deficit reduction rules seriously, even though its budget deficit is above ...
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SP again warns India could face junk status
Betting is illegal in India, but Indians are compulsive gamblers, willing to wager thousands of crores on anything from the outcome of cricket ...
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Toyota is working on a new electric vehicle the i-Road
While the rest of car companies are rather focusing on luxury car with improved engine performance, Toyota decided to come up with an idea out of the box. The auto giant intends to surprise the market with a concept completely new. Something that is not a car nor a bike but reminds of both. It is a design in between. The Toyota i-Road’s power is derived out of a pair of 2 kW electric ...
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Apple chief makes case against Adobe Flash software
Chief Economic Adviser Rajan said the government's "job is not to cater to the rating agencies" but to change the ground realities on which it is ...
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Vasco to offer tech to overcome e-Banking frauds
Vasco Data Security International on Saturday said it plans expansion in India by offering latest technology to overcome e-Banking frauds. "We are leading software security company and we are looking at expanding in India by providing our technology to Indian banks and financial institutions to protect themselves and their customers against the ...
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SBIs overseas business under pressure Chairman
non performing asset (NPA) levels of the country's largest lender in the fourth quarter last fiscal remained low compared to third quarter. "In overseas business, our margins are under pressure. We would like to review what is our ROE (return on equity) in overseas business and what is our ROE in domestic business. Generally my sense is that the domestic business ROE is significantly ...
Hong Kong Feature
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Electoral reform hot topic for Hong Kong
Hong Kong is going through more growing pains, perhaps even the most uncomfortable since the city was handed back to Beijing by Britain. Pro-democracy advocates want to be able to vote for the entire legislative council, a direct challenge to Beijing.
Hong Kong was handed back to China in 1997. At that time, Beijing made an agreement with Britain that under a law called the Basic Law, all the civil liberties which were existent in Hong Kong at the time of the hand over would remain in place for at least 50 years, by which time it is envisioned, by the pro-democracy camp at any rate, that the Special Administrative Region will be fully democratic at any rate. Read more
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