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  • Rs37.971 billion CDA budget approved

    June 10, 2017 2:01 AM 6

    The Capital Development Authority (CDA) Board which met on Friday approved Rs37.971 billion budget of CDA for the financial year 2017-2018. CDA Chairman Sheikh Anser Aziz chaired the meeting which was also attended by other board members and senior officials. The civic body also plans to open sectors C-15 and C-16 during the fiscal year 2017-18 in order

  • Palm sees strongest daily gains in a week on stronger soyoil

    June 9, 2017 11:21 AM 4

    ASIA-VEGOILS/ (UPDATE 2):VEGOILS-Palm sees strongest daily gains in a week on stronger soyoil * Palm charts first gain in four sessions, strongest in a week * Market down for fourth consecutive weekly decline (Updates with closing prices) By Emily Chow KUALA LUMPUR, June 9 (Reuters) - Malaysian palm oil futures rose on Friday, charting its first gain in four sessions

  • French Trade Deficit Widens In April

    June 8, 2017 9:15 PM 4

    The French trade deficit increased in April from a month earlier, as exports fell faster than imports, data from the customs office showed Thursday. The trade deficit widened to EUR 5.5 billion in April from EUR 4.8 billion in the previous month. In the corresponding month last year, the shortfall was also EUR 4.8 billion. Exports fell to EUR 38.3 billion

  • Iran hits back at India, tapping Russia’s Gazprom to develop its giant gas field – Daily Pakistan

    June 8, 2017 4:23 PM 4

    TEHRAN – Tehran has picked Russian energy major Gazprom to develop the Farzad B gas field, discovered by India’s Oil and Natural Gas Corporation (ONGC). The deal follows India’s decision to cut purchases of Iranian oil. “We have signed an initial agreement with them (Gazprom) on Farzad, the North Pars and Kish fields,” Iranian Oil Minister Bijan Namdar

  • Palm oil sags on bearish fundamentals outlook

    June 8, 2017 11:45 AM 4

    KUALA LUMPUR (June 8): Malaysian palm oil futures fell on Thursday in a second straight session of losses, as forecasts of rising output and declining export demand weighed on the market, said traders. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange shed 0.45% to 2,444 ringgit (US$573.24) a tonne at the close

  • SBI, 10 Other Banks Need Up To Rs 95,000 Crore Capital: Moody's

    June 8, 2017 9:30 AM 4

    Moody's Investors Service on Thursday said the 11 Indian state-run banks that it rates could need up to Rs 95,000 crore ($14.76 billion) in equity capital by March 2019, far above the Rs 20,000 crore the government plans to inject into state banks by then. Weak capitalisation levels will remain a key credit weakness for the 11 banks, the ratings agency

  • Ikea to try selling through third party websites

    June 8, 2017 1:49 AM 5

    STOCKHOLM: Ikea plans to test selling its products on websites other than its own, the head of brand and strategy owner Inter Ikea Group said, as the world's biggest home furnishing retailer targets more online customers. The move means Ikea's customers may soon be able to buy its flat-pack furniture and other home furnishings through the likes of Amazon

  • Pakistan Railways orders GE locomotives for the north

    June 7, 2017 3:48 PM 2

    PAKISTAN: GE Transportation announced an agreement to supply 20 FDL C20EMP diesel locomotives to Pakistan Railways on June 7. The 1 676 mm gauge C20EMP locomotives are to be supplied from Erie in the USA by the end of 2018. They will be a lightweight 2 000 hp mixed traffic design suitable for use on mountainous routes in the north of the country. They will initially

  • Energy exports a lifeline for boycott-hit Qatar

    June 6, 2017 5:27 PM 12

    KUWAIT CITY: A Saudi-led diplomatic and economic blockade against Qatar may threaten food imports, but the tiny emirate still has a lifeline through its gas and oil exports, experts said Tuesday. Saudi Arabia, the UAE, Egypt, Bahrain and Yemen have suspended all diplomatic ties to gas-rich Qatar, halting flights to and from the country and ordering Qatari

  • EIA Cuts Oil Price Forecast, Lifts U.S. Production Outlook For 2018

    June 6, 2017 4:21 PM 4

    The U.S. Energy Information Administration lowered its crude-oil price forecast and raised its U.S. production outlook for 2018, according to a monthly report issued Tuesday. The government agency said it expects West Texas Intermediate prices to average $53.61 a barrel next year, down 2.7% from its previous forecast. For 2017, it raised its WTI forecast