Economy

Oil prices fall in Asia

SINGAPORE: Oil prices eased in Asia on Tuesday, hit by disappointing manufacturing data and a pipeline closure in the United States, analysts said. New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in May, shed 15...

Cement stocks help KSE scale an all-time high

KARACHI: On the concrete trading foundation laid by cementmakers, Karachi Stock Exchange (KSE) built a rally to consolidate yet another all-time high here on Tuesday, media reports said. The recordmaking KSE-100 Index grew by 0.40 percent, or 73.63 p...

SHC approves protective bail of Amin Fahim

KARACHI: Sindh High Court (SHC) on Tuesday approved the protective bail filed by former minister for commerce Amin Fahim in NICL scam case Tuesday, media reported. The SHC has approved the bail against Rs 0.5 million for ten days. The anti–corruption...

Economic Analysts, Govt Divided on Afghan Future

The government has no specific plan to tackle the challenges ahead of Afghanistan when international donor funding drops, putting the country at risk, an Afghan economic analyst said Sunday. But the charge was dismissed by the Ministry of Economics...

Afghan foreign minister discuss railway construction with Tajikistan

Afghan foreign minister Zalmai Rasoul on Friday discussed the construction of railway link connecting Tajikistan, Afghanistan and Turkmenistan as well as implementation of the Central Asia South Asia Electricity Transmission and Trade Project (CASA 1...

Helmand Tops List of Drug Smuggling Provinces

Helmand province had the highest number of drug smuggling cases last year out of Afghanistan's 34 provinces with 17.9 percent of all cases coming from the southern province, according to the annual report of Counter Narcotics Justice Centre. From M...

NICL scam: Arrest warrants issued for Fahim, 6 others

KARACHI: Arrest warrants have been issued for Pakistan People’s Party (PPP) leader and former commerce minister Makhdoom Amin Fahim besides six others accused in the multi-billion-rupee National Insurance Company Limited (NICL) corruption case. The a...

LPG prices slashed across Pakistan

KARACHI: Price of Liquefied Petroleum Gas (LPG) has been reduced by Rs11.30 across the country, according to LPG Distribution Association Chairman Irfan Khokar. Khokar said on Monday that with the latest cut, the price of LPG cylinder for domestic co...

CPI-based inflation up 6.57pc year-on-year basis

ISLAMABAD: The country's Consumer Price Index (CPI) based inflation rate for the month of March 2013 rose to 0.41 percent over the previous month (February 2013). “On year-on-year basis, the inflation during March 2013 increased by6.57 percent as com...

Cements, oils, fertilizers make KSE's day

KARACHI: Pakistan's stock market closed higher on Monday, supported by a lower inflation rate and interest in the oil, fertilizer and cement sectors, dealers said. The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 1.27 percent, or 22...

Sindh runs out of onions, imports from India

KARACHI: Sindh onion consumption has exceeded its production, as the province has started to depend on imports of the commodity from India. The wholesale rate of onion has surged by Rs200 while its retail price has soared to a whopping Rs55 per kilog...

Asian markets slip

HONG KONG: Asian markets slipped in holiday-hit trade Monday as investors were unimpressed by a mild improvement in key economic indicators out of China and Tokyo. The yen also climbed against the dollar and euro ahead of a Bank of Japan (BoJ) policy...

Euro weakens in Asian trade

TOKYO: The dollar and euro weakened on the yen in Asia Monday amid concerns over debt-ravaged Cyprus and political uncertainty in Italy as a Bank of Japan survey showed a modest increase in business confidence. Euro-sentiment was dampened after a rou...

Oil prices down in Asia

SINGAPORE: Oil prices eased in Asia on Monday as investors took profits after a run-up in prices last week before the long Easter break, analysts said. New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in May, she...

'G.I. Joe' commands box office lead with $41.2 mn

LOS ANGELES: Long-delayed sequel "G.I. Joe: Retaliation" led the North American box office in its debut weekend, earning $41.2 million, industry estimates showed Sunday. The action film about a fantasy elite military unit starring Dwayne "The Rock" J...

Pakistan achieves export target of 0.2m tons kinno

KARACHI: Pakistan has already achieved the current financial year’s export target of 0.2 million tons of kinno, while the export still continues, media reported. Russia emerged the biggest buyer, where 40 percent of Pakistan kinno was exported. Pakis...

OGRA sends summary for POL price decrease

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has sent the summary seeking a decrease in the price of petroleum products to the Petroleum Ministry. If the summary is approved the price of petroleum products will be decreased on April 1. The ...

Pakistan envoy stresses need for mango exports to Japan

TOKYO: Stressing the need for jacking up exports of fruit, Ambassador of Pakistan to Japan, Farukh Amil, said that Pakistani mangoes with their irresistible taste would certainly attract the Japanese market, media reported. Speaking to a delegation o...

OGRA reduces petrol price by less than a rupee

ISLAMABAD: The Oil & Gas Regulatory Authority has announced a downward revision in petroleum products prices, media reported. The new prices take effect from 12:00 AM April 1, 2013. According to the notification issued, OGRA has slashed the petrol pr...

New Jersey cow, Karlie, sells for record $170,000

SYRACUSE: A central New York couple's Jersey show cow has been sold at an auction for a record-breaking $170,000. Karlie the dairy cow was bought by Arethusa Farm of Bantam, Conn., during an auction held Monday in Onondaga Hill, just outside Syracuse...

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