Oil down in Asian trade
Posted by admin on May 22, 2013 | Leave a Comment
SINGAPORE: Oil was down in Asia on Wednesday as traders waited for the release of the latest energy inventory report from the United States, analysts said.
Weak demand and surging crude stockpiles in the world’s biggest economy have put downward pressure on prices and limited gains.
New York’s main contract, West Texas Intermediate light sweet crude for delivery in July, dropped 42 cents to $95.76 a barrel...
SSGC reschedules CNG closure program
Posted by admin on May 21, 2013 | Leave a Comment
KARACHI: Sui Southern Gas Company (SSGC) management has rescheduled CNG closure program for current week and decided to suspend gas supply to all CNG stations in Sindh region from Thursday, 23 May 2013 for 48 hours.
This step has been taken due to short supply of gas from different fields.
Now the CNG stations will remain closed from 8:00 AM on Thursday, 23 May 2013 till 8:00 AM on Saturday, 25 May 2013. (PPI)
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Dollar rebounds in Asia as investors await Bernanke
Posted by admin on May 21, 2013 | Leave a Comment
TOKYO: The dollar turned higher against the yen in Asia on Tuesday as investors waited for testimony by the US central bank chief and the outcome of a policy meeting of the Japanese central bank.
The dollar was changing hands at 102.52 yen in Tokyo afternoon trade, up from 102.26 yen in New York late Monday.
The euro rose to 132.11 yen from 131.76 yen in New York while edging upward to $1.2886 from $1.2884.
The dollar...
Oil up in Asia ahead of Fed chiefs testimony
Posted by admin on May 21, 2013 | Leave a Comment
SINGAPORE: Oil was up in Asian trade Tuesday ahead of a testimony in Congress by Federal Reserve chief Ben Bernanke on the US economy.
New York’s main contract, light sweet crude for delivery in June added 15 cents to $96.86 a barrel and Brent North Sea crude for July delivery increased 15 cents to $104.95 in mid-morning trade.
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Sindh CNG pumps to remain closed for 24 hours
Posted by admin on May 21, 2013 | Leave a Comment
KARACHI: All CNG stations in Sindh including Karachi would be closed on Tuesday at 8 AM for the next 24 hours as part of load management plan.
According to Sui Southern Gas Company (SSGC), the CNG pumps will be reopened on Sunday at 8 AM.
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Karachi Stock Exchange closes higher rupee strengthens
Posted by admin on May 20, 2013 | Leave a Comment
KARACHI: Foreign bulls Monday catapulted Karachi Stock Exchange (KSE) above 20,800 mark, a massive rally wherein the benchmark index of apex bourse piled up around a solid 277 points.
Benchmark KSE-100 Index ended 1.35 percent, or 277.11 points, higher at 20,814.14.
Reports of an early resolution of circular debt helped Pakistan State Oil Company Ltd close at its upper cap.
The Oil and Gas Development Company Ltd (OGDCL)...
Dollar eases in Asia but expected to resume rise
Posted by admin on May 20, 2013 | Leave a Comment
TOKYO: The dollar eased in Asia on Monday after a Japanese minister said the recent correction against the yen was nearly over, but analysts said the greenback would soon resume its climb.
The dollar was changing hands at 102.84 yen in Tokyo morning trade, down from 103.19 yen in New York late Friday but still up from the lower 102-yen range seen before the Tokyo market closed on Friday.
The euro was quoted at $1.2825...
Asia shares higher on US gains
Posted by admin on May 20, 2013 | Leave a Comment
HONG KONG: Asian shares rose on Monday, reflecting a bullish mood on Wall Street and extending their two-week rally, buoyed by better-than-expected US data.
Tokyo stocks were up 1.38 percent by the break, as Shanghai gained 0.12 percent and Sydney rose 1.25 percent.
Hong Kong was 1.3 percent higher and Seoul was up 0.15 percent.
Tokyo stocks rose from the start of trade, buoyed by gains in overseas stock markets last...
Oil prices lower in Asian trade
Posted by admin on May 20, 2013 | Leave a Comment
SINGAPORE: Oil prices were down in Asian trade Monday as investors locked in profits from last week’s gains after US stocks blazed to new record levels.
The US benchmark contract, West Texas Intermediate for June delivery, was down five cents to $95.97 a barrel and Brent North Sea crude for delivery in July dropped three cents to $104.61.
Prices had surged last week after a better-than-expected reading on US consumer...
Pakistan approves 100000 tonnes of wheat for Iran to pay for power
Posted by admin on May 17, 2013 | Leave a Comment
ISLAMABAD: Islamabad has authorised the export of 100,000 tonnes of wheat to Iran in trade not jeopardised by Western sanctions, to settle dues for electricity supplied to Pakistan’s energy-starved border areas, the Commerce Ministry said on Friday.
The shipment of 100,000 tonnes was to have been delivered to Iran in mid-February but was delayed by preparations for Pakistan’s May 11 election.
“The wheat...
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