Business News
January: Economic indicators blink green
The National Price Monitoring Committee (NPMC) was informed here on Friday that the Consumer Price Index (CPI), which shows the general price trend in the country, decreased and recorded at 10.1% during last month.The NPMC, which met Secretary Finance Abdul Wajid Rana in the…
Euro up in Asia after German business survey
The euro firmed against major currencies in Asian trade Friday thanks to an upbeat German business confidence survey and improving investor sentiment about Greece.The common currency was trading at $1.3374 and 107.12 yen in Tokyo trade, compared with $1.3369 and 106.94 late Thursday in…
Rupee ends firmer at 90.95/79 to dollar
In the currency market, the rupee ended firmer at 90.75/79 to the dollar, compared with Tuesday's close of 90.86/91 amid lack of import payments.But dealers expect pressure on the local unit to continue due to rising international oil prices, which hit a nine-month high…
Euro flat after easing from Greek bailout rally
The euro was flat against the dollar in Asia Wednesday as enthusiasm over a eurozone agreement on a bailout for Greece faded due to concerns more must be done to get the country back on track.The euro faces downward risks as investors are likely…
Oil price down in Asia on profit-taking
Oil was down in Asian trade Thursday with traders reaping profits after prices jumped more than one percent overnight, analysts said.New York's main contract, West Texas Intermediate (WTI) light sweet crude for March delivery, fell 15 cents to $101.65 per barrel and Brent North…
Euro falls on debt woes, dollar up against yen
The euro fell against the dollar in Asia on Wednesday amid worries over Europe's debt woes while the greenback hit a 15-week high against the yen after the Bank of Japan's surprise credit easing.The euro slipped to $1.3113 in Tokyo morning trade from $1.3134…
Local gold up at Rs50,228
Gold improved by Rs86 to close at Rs 50,228 per 10 grams in the local market Monday as its international price recovered to $1,729 an ounce, market sources said.According to Karachi Saraf Association official, tola (11.664 grams) price also increased by Rs 100 to…
Euro trade cautious ahead of promised Greek deal
Trade in the euro was cautious in Asia Thursday with the market focused on Greece's efforts to reach a deal on debt restructuring.The single unit stood at $1.3248 and 102.22 yen, from $1.3260 and 102.14 yen. The dollar was at 77.15 yen, edging up…
Euro eases against dollar, yen in Asia
The euro eased against major currencies in Asian trade Tuesday as investors monitored events in Europe, dealers said.The euro bought $1.3015 and 100.20 yen in early Asian trade, easing from $1.3027 and 100.31 yen in New York late Monday. The dollar was at 77.00…
Euro edges down after mixed Australian jobs data
The euro eased against the dollar in Asia on Thursday as mixed Australian jobs data rekindled risk aversion despite hopes the IMF would raise more money to help fight the European debt crisis.The euro edged down to $1.2849 and 98.59 yen in Tokyo morning…
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