EU Fines Five Major Banks 1 Bn Euros For Currency Collusion
Brussels, (UrduPoint / Pakistan Point News - 16th May, 2019 ):The EU's powerful anti-trust authority on Thursday fined five major banks -- including Barclays and Citigroup -- for collusion in the massive foreign exchange currency market. The European Commission fined Barclays, the Royal Bank of Scotland, Citigroup, JPMorgan and Japan's MUFG Bank a total of 1.07 billion euros after finding that ...
Currency devaluation: Asad Umar to raise the issue in finance committee
ISLAMABAD (Dunya News) ? Former finance minister Asad Umar, while responding to the matter of sudden devaluation of rupee against the US dollar, said on Thursday that the issue would be raised in the meeting of the National Assembly?s Standing Committee on Finance and Economic Affairs. He spoke to the media, and disclosed that until he was the finance ...
ACCA, Atlas Copco To Promote Sustainable Business Practices, Develop Talent For Digital Future
Islamabad (UrduPoint / Pakistan Point News - 16th May, 2019 ) ACCA and Atlas Copco Pakistan have agreed to work together for the promotion of sustainable business practices in Pakistan. At an exclusive ceremony in Lahore, ACCA also announced the Approved Employer status for Atlas Copco?s operations in Pakistan to recognise company?s efforts to invest in their employees by ...
US Sanctions On Nord Stream 2 Enhance Threats To Russian Energy Security -Council
MOSCOW (UrduPoint News / Sputnik - 16th May, 2019) US sanctions targeting the Stream 2 project and the LNG increase threats to the national energy security, the Security Council said Thursday. "US sanctions on the energy sector, primarily targeting the Stream 2 project, the LNG and use of modern technologies for producing hard-to-recover ...
EC Says Fined Barclays, RBS, Citigroup, JPMorgan, MUFG $1.2 Bln For Cartel
MOSCOW (UrduPoint News / Sputnik - 16th May, 2019) The European Commission (EC) said in a statement Thursday that it had fined five banks 1.07 billion euros ($1.2 billion) for taking part in cartels. "In two settlement decisions, the European Commission has fined five banks for taking part in two cartels in the Spot Foreign Exchange market for 11 currencies - ...
KSE-100 plummets, closes at 33,971 points
Karachi (Dunya News) ? In the latest round of rupee depreciation on Thursday continued to hammer stocks as over 700 points were lost in intra-day trading; however the benchmark KSE-100 Index gained 320 points and closed at 33,971 points at the end of the day.
Four Million Ton Wheat Target To Be Achieved Easily: Minister
LAHORE, (UrduPoint / Pakistan Point News - 16th May, 2019 ) : Revenue Minister Malik Muhammad Anwar has said that the PTI-led will achieve procurement target of 4 metric tonnes for 2019-20 crop with financial limit of Rs 130 .
Spot Rates Of Cotton (Crop 2018-19)
KARACHI, (UrduPoint / Pakistan Point News - 16th May, 2019 ) : Association (KCA) on Thursday announced the following KCA Spot Rates for local dealing in Pak rupees for base grade 3 (three) staple length 1-1/16" Micronaire value between 3.8 and 4.9 .
Shipping Activity At Port Qasim
KARACHI, (UrduPoint / Pakistan Point News - 16th May, 2019 ) :Three ships namely MOL Grandeur, Andrey Pervozvonny and Arietta carrying Containers, Palm and Coal took berths at Qasim International Container Terminal, Liquid Cargo Terminal and International Bulk Terminal respectively during last 24 hours, said a report issued by Authority (PQA), here on Thursday. ...
IMF agreement not reason behind increase in dollar price: Asad Umar
State Minister For Revenue Hammad Azhar said the issue of increase in dollar's value against rupee was related to the State Bank of Pakistan.
Ukraine's Plan On Fixed Gas Transit Contradicts EU Energy Rules - Russian Deputy Minister
BERLIN (UrduPoint News / Sputnik - 16th May, 2019) is confused over 's proposals to fix volume and period of transit, as they contradict the 's Third Energy Package, Deputy Energy Minister Anatoli Yanovsky said Thursday.
Gazprom Expects Europe's Demand For Russian Gas To Be 7Trln Cubic Feet In Medium Term
BERLIN (UrduPoint News / Sputnik - 16th May, 2019) 's energy giant Gazprom expects the annual demand for in to be 194 to 204 cubic meters (6.9-7.2 trillion cubic feet) in the medium term, with the hoping to surpass the record-high this year, Elena Burmistrova, the director general of Gazprom Export, said on Thursday.
German Lawmaker Slams US Ambassador's Sanction Threats Over Nord Stream 2
BERLIN (UrduPoint News / Sputnik - 16th May, 2019) Statements by US Ambassador to Richard Grenell on risks of US sanctions on companies implementing the Stream 2 project are unacceptable, Klaus Ernst, a member of the Bundestag and the head of the 's energy committee, said Thursday.
Russian Gas Has More Economic, Ecological Advantages Than US LNG - German Lawmaker
BERLIN (UrduPoint News / Sputnik - 16th May, 2019) is more beneficial both economically and ecologically than the liquefied natural (LNG) the , Klaus Ernst, a member of the Bundestag and the head of the 's energy committee, said Thursday. Secondly, US is not competitive in terms of when compared to ...
European Commission To Be Unable To Stop Implementation Of Nord Stream 2 - Merkel
MOSCOW (UrduPoint News / Sputnik - 16th May, 2019) The European Commission will be unable to stop the implementation of the Nord Stream 2 gas pipeline project, with the new amendments to the EU Gas Directive, which stipulate the rules of operation for the offshore sections of gas pipelines in the European Union, not expected to have a completely ...
The State Bank Of Pakistan (SBP) To Announce Monetary Policy On Monday
ISLAMABAD, (UrduPoint / Pakistan Point News - 16th May, 2019 ):The State Bank of Pakistan (SBP) would announce Monetary Policy on Monday (May 20), through a Press Release.
Over Rs 29,461.323 Mln Released For Water Projects So Far
ISLAMABAD, (UrduPoint / Pakistan Point News - 16th May, 2019 ):The government has released a sum of Rs 29461.323 million for various water projects under annual Public Sector Development Programme (PSDP) for fiscal year 2018-19 so far. A sum of Rs 4736.070 million was released for Diamer Basha dam project, Rs.4550 million for Extension of Right Bank Outfall Drain ...
Nestle In Talks To Sell Skincare Brands
Zurich, (UrduPoint / Pakistan Point News - 16th May, 2019 ):Swiss food giant Nestle said Thursday it is in talks to sell its skincare business to a group led by a Swedish private equity firm and the Abu Dhabi Investment Authority. The deal to sell Nestle Skin Health is worth 10.2 billion Swiss francs (9.3 billion euros, $10.12 billion) ...
Country Imports 13.3 Mt POL Products Last Year
ISLAMABAD, (UrduPoint / Pakistan Point News - 16th May, 2019 ):The country has imported around 13.3 million ton (mt) different petroleum products during the last fiscal year to meet its ever-growing energy needs. Out of which, the private sector companies imported around 38 percent petroleum products including High Speed Diesel (HSD), High Sulphur Fuel Oil and Low Sulphur Fuel ...
Services Trade Deficit Shrinks 41.38% In Three Quarters
ISLAMABAD, (UrduPoint / Pakistan Point News - 16th May, 2019 ) :The country's services trade deficit narrowed by 41.38 percent during the first three quarters of the current fiscal year compared to the corresponding period of last year. The services trade deficit during July-March (2018-19) was recorded at US$ 2.532 against the deficit of US$ 4.320 during ...
