REAP greets Qaiser Ahmed on election victory
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- Created on Tuesday, 21 May 2013 17:55
- Written by Business Recorder
Javed Ali Ghori, Chairman Rice Exporters Association of Pakistan (REAP) congratulates famous rice exporter and renowned industrialist Qaiser Ahmed Sheikh, ex-president Karachi Chamber of Commerce and Industry (KCCI) on being elected as MNA with a high majority from NA-86 Chinniot. Javed Ali Ghori expressed hope that being a renowned and experienced business man, he will serve the trade and industr
Copper turns positive, hits one-week high
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- Created on Tuesday, 21 May 2013 17:55
- Written by Business Recorder
Copper rose to its highest in almost a week on Monday, helped by a weaker US dollar and shrinking inventories of the metal in Asia, but concerns about sluggish Chinese growth capped gains. Benchmark copper on the London Metal Exchange (LME) closed at $7,399 a tonne, up 1.3 percent from Friday's close. The dollar weakened against a basket of currencies, making dollar-priced commodities such as copp
European jewellers warm to platinum
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- Created on Tuesday, 21 May 2013 17:54
- Written by Business Recorder
Platinum jewellery demand has grown in Europe as marketing efforts start to pay off, a leading UK jewellery producer said, in contrast to gold which has suffered high prices and weak consumer sentiment. Platinum jewellery is increasingly popular in France, the Netherlands, Belgium and Luxembourg in particular as its appeal to consumers of high-end luxury goods grows, Patrick Fuller, chairman of WB
Silver tumbles; gold up slightly in Europe
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- Created on Tuesday, 21 May 2013 17:53
- Written by Business Recorder
Silver hit a 2-1/2 year low on Monday, led by fund liquidation in Asian trade, while gold was up slightly, reversing from seven days of losses based on speculation the US Federal Reserve may rein in its stimulus programme. Investors have been dumping gold and silver, which are down 20 percent and 30 percent respectively this year, while stocks and the dollar have risen on an improving global econo
Water inflows increase by 64,000 cusecs in rivers
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- Created on Tuesday, 21 May 2013 17:52
- Written by Business Recorder
Following hot and dry weather in the upper regions of the country, there has been an increase of 64,000 cusecs in the running water of four live rivers of the country during last couple of days which has enabled the Indus River System Authority to supplement the outflows from the dams for augmenting hydel power generation and irrigating crops across the country. According to 20th May rivers flows
Asia-Pacific leaders warn of water conflict threat
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- Created on Tuesday, 21 May 2013 17:52
- Written by Business Recorder
Fierce competition for water could trigger conflict unless nations cooperate to share the diminishing resource, leaders from Asia-Pacific nations warned Monday. From Central to Southeast Asia, regional efforts to secure water have sparked tensions between neighbours reliant on rivers to sustain booming populations. Breakneck urbanisation, climate change and surging demand from agriculture have hea
ICE sugar dips to near three-year low
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- Created on Tuesday, 21 May 2013 17:51
- Written by Business Recorder
Raw sugar futures on ICE fell to a near-three-year low on Monday as strong cane crushing in top producer Brazil kept the market under pressure. Arabica coffee futures on ICE Futures US dropped for the fifth straight day on follow-through weakness and pressure after s report last week showed speculators had shrunk their net short position. Cocoa on ICE and Liffe were little changed as dealers looke
China to stockpile more domestic sugar to boost prices
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- Created on Tuesday, 21 May 2013 17:50
- Written by Business Recorder
China will start a new round of stockpiling sugar from the domestic market to try to shore up local prices, a government body said on Monday, a move that could spur more cheap imports by the world's second-largest consumer. The government will stockpile 300,000 tonnes of sugar in the second round of a state stockpiling programme in the current marketing year which ends in September. That would lea