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Dollar firms against euro, yen
Source: Geo News | 21-08-2013

TOKYO: The dollar firmed against the euro and the yen on Wednesday, while India's rupee rebounded from a record low as traders await the release of minutes from the US Federal Reserve's July meeting.

Trade was cautious, with analysts expecting the Fed to soon announce the end of its year-long stimulus, which has helped fuel a global equity and forex rally.

In afternoon Asian trade the greenback fetched 97.49 yen, against 97.32 yen in New York on Tuesday. The euro sat at $1.3418, against $1.3420.

The European unit broke $1.34 in New York for the first time since January after US Treasury yields fell to 2.81 percent from a two-year high of 2.88 percent reached Monday, as bonds appeared oversold after sinking for more than three months.

The single currency was also trading at 130.87 yen, up from 130.60 yen.

Investors will be poring over the Fed minutes to find out "what kind of discussion took place over (the) possibility of reducing" its bond-buying known as quantitative easing (QE), Shinichiro Kadota, currency analyst at Barclays Capital, said in a statement.

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Source: Geo News | 10-10-2013
 Oil rebounds on breakthrough hopes in US budget crisis SINGAPORE: Oil prices rebounded in Asian trade Thursday on hopes of a possible breakthrough in the US budget crisis after the White House moved to convene meetings with leading members of Congress. New York's main contract, West Texas Intermediate for delivery in November, was up seven cents at $101.68 in mid-morning trade while Brent North Sea crude for ..... Read more
Source: Tribune | 18-03-2013
Anatomy of an indispensable sector: Why the Pakistan textile industry cannot die The textile sector enjoys a pivotal position in the exports of Pakistan. The contribution of this industry to total gross domestic product (GDP) is 8.5%. It provides employment to about 15 million people, 30% of the country’s workforce of about 49 million. The annual volume of total world textile trade is $18 trillion which is growing at 2.5%. But Paki..... Read more
Source: dawn | 08-01-2013
Wapda to introduce pre-paid meters to streamline recovery With public and private consumers having defaulted on payment of Rs426 billion electricity bills, the government has decided to introduce pre-paid meters for government institutions, make at-source deductions from provincial revenues and determine fixed amounts to be paid to Wapda employees, instead of providing free electricity.   This was stated..... Read more
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