Business News
Falling rupee to impact oil firms, put pressure on deficit: Moody's
Global ratings agency Moody's attributed the fall in rupee's value to widening current account deficit (CAD) and said the depreciation is likely to inflate the fuel subsidy bill, weaken the credit quality of oil companies and put pressure on the fiscal deficit.Continuing its slide,…
Euro firms in Asian trade
The euro held firm against the dollar and yen in Asian trade on Thursday after dropping overnight amid concerns about political upheaval in debt-hit Greece and strains on Spain's banking sector. The euro bought $1.2948 and 103.28 yen in Tokyo morning trade, stronger than $1.2944…
Gold slips to Rs.56,100 per tola
Gold slipped by Rs 500 to Rs 56,100 per tola in the local market Tuesday as its international price dropped. Chairman All Sindh Jewelers Association Haji Haroon told ‘Geo News’ that gold prices fell in the local market as its international price slipped to $…
Faisalabad industries deprived of gas
The gas supply was suspended to the industrial sector of Faisalabad for three consecutive days that resulted in halting the production process, Geo News reported Friday. According to sources, Sui Northern Gas Pipeline had resumed the gas supply for four days that was suspended again…
Dollar steady ahead of meeting
The dollar was steady against other major currencies in Asian trade on Thursday as investors looked to a Bank of Japan policy meeting amid speculation of further monetary easing. The euro bought $1.3217 and 107.49 yen in Tokyo morning trade, almost flat with New York…
Euro sags, yen jumps in Asian trade
The euro sagged against other major currencies in Asian trade Monday, as risk-averse investors flocked to the safe-haven yen following weaker-than-expected US jobs data. The European single currency was changing hands at $1.3050 and 106.38 yen Monday, slipping from $1.3070 and 107.53 yen in Tokyo…
Euro steady ahead of US jobs data
The euro was steady in early Asian trade Friday at the start of the Easter holiday weekend ahead of a US jobs report, after it lost ground on debt concerns over the past week. The eurozone unit bought $1.3064 and 107.58 yen in Tokyo morning…
Gold hits near 3-month low
Gold prices fell more than 1 percent to their lowest in nearly three months after minutes from the US Federal Reserve's March meeting suggested a fresh round of monetary stimulus was unlikely as the US economy gradually improves. Ultra-loose monetary policy, which keeps real interest…
Dollar slips in Asian trade
The dollar eased in Asian trade on Tuesday with the euro and safe-haven yen both rising ahead of key economic data due this week, including a US jobs report. The greenback slipped to 81.84 yen in Asian trade, compared with 82.28 yen in New York…
Gold shines up at Rs49,414 per 10 grams
Gold surged by Rs 129 to Rs 49,414 per 10 grams in the local market Friday as its international price improved to $ 1,665 an ounce, market sources said. According to Karachi Saraf Association official, tola (11.664 grams) price also went up by Rs 150…
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