Economy

CNG stations to close for 24 hours in Sindh

KARACHI: The Sui Southern Gas Company has changed its schedule for CNG closure in Sindh for the current week. The SSG said the CNG stations in Sindh would remain closed for one day this week from Friday 9:00 am to Saturday 9:00 am. It said the gas su...

ISAF container implementation case: SC issues interim order

ISLAMABAD: Supreme Court Wednesday announced the interim order in ISAF containers implementation case here, media reported. The Apex Court has ordered FBR Chairman for the recovery of the losses from the accused within two weeks and personally report...

NICL case: CJ says Amin Fahim had Ayaz Niazi appointed

ISLAMABAD: The Supreme Court of Pakistan Tuesday remarked that the money trail in NICL scandal led to the bank account of Mahkdoom Amin Fahim, media reported. A three member bench of the apex court headed by Chief Justice Chaudhry took up the NICL co...

Oil prices rebound in Asian trade

SINGAPORE: Oil prices rose in Asian trade Tuesday on bargain hunting after hitting multi-week lows, analysts said. New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in April added 20 cents to $90.32 a barrel in th...

Asian markets rebound from big losses

HONG KONG: Asian markets climbed Tuesday following a big sell-off in the previous session and as traders took heart from a rally on Wall Street that saw the Dow close within sight of a record high. Shanghai failed to make noticeable inroads into Mond...

Pakistan stocks close lower, rupee steady

KARACHI: Pakistan's stock market closed 90 points lower on Tuesday, after investors sold stocks of market heavyweights. The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.54 percent, or 97.16 points, lower at 18,035.97 points. Altho...

US supports TAPI pipeline project: Olson

ISLAMABAD: US Ambassador to Pakistan Richard Olson said Tuesday that his country supports the Turkmenistan, Afghanistan, Pakistan and India (TAPI) pipeline project. Olson was touring the Tarbela Dam where he inaugurated the new 128 MW power project. ...

NICL money trail leads to Amin Fahim: SC

ISLAMABAD: Chief Justice Iftikhar Muhammad Chaudhry remarked that former NICL Chairman Ayaz Niazi was appointed at the behest of Makhddom Amin Fahim. A three member bench of the apex court headed by Chief Justice Chaudhry was hearing the NICL corrupt...

Target to bring 5mn businessmen in tax net: chairman FBR

SIALKOT: Chairman Federal Board of Revenue (FBR) Ali Arshad Hakeem has said that the target is to increase number of taxpayers and to bring 5 million businessmen into tax net, media reported. Addressing the businessmen community here in a ceremony at...

OGRA withdraws hike in POL prices on PM's orders

ISLAMABAD: Following the orders of Prime Minister of Pakistan, Raja Pervez Ashraf, the Oil & Gas Regulatory Authority (OGRA) has finally denotified a recent hike in petroleum products bringing the prices back to February-28-level. The new prices take...

Pakistani stocks fall in the wake of Karachi terror

KARACHI: Pakistan's stock market closed lower on Monday, dragged down by violence in commercial capital Karachi, where at least 48 people died in a bomb blast on Sunday, traders said. The Karachi Stock Exchange's (KSE) benchmark 100-share index ended...

HEC to receive Rs 9 billion from Finance Ministry

ISLAMABAD: The Finance Ministry of Pakistan has decided to provide the Higher Education Commission (HEC) Rs 9 billion. The decision was taken during a meeting between HEC Chairman Javed Leghari and Finance Minister Saleem Mandviwalla. According to so...

No directives from PM to reduce POL prices: Dr Asim

SLAMABAD: Petroleum Adviser Dr Asim Hussain said Sunday that his ministry had not received any directives from Prime Minister Raja Pervaiz Ashraf to decrease petroleum prices. According to Dr Asim, the price of petroleum products would be decreased a...

Hundreds of thousands march against austerity in Portugal

LISBON: Hundreds of thousands of people took to the streets of Lisbon and other Portuguese cities Saturday to protest against the government's austerity measures aimed at rescuing the debt-hit eurozone nation. The rallies were organised by a non-poli...

Govt set to launch crackdown against electricity thieves

ISLAMABAD: Arrangements have been finalized to launch a crackdown against electricity thieves and defaulters as government and its institutions plan recovery of Rs407 billion by mid March through a crash program. The recovery campaign would be launch...

POL prices remain unchanged despite PM orders

ISLAMABAD: The price of petroleum products remains unchanged as the Ministry of Petroleum has not issued a notification for a decrease in the petroleum levy. In several cities across Pakistan, petrol is still being sold at the March 1 price despite o...

Some petrol pumps still charging March 1 hiked POL prices

KARACHI: Petrol is still being sold at the March 1 hiked price in different areas of the city here on Sunday, in brazen defiance of the latest government notification taking back the March 1 POL price-hikes and reversal to the Feb 28 levels of prices...

US budget cuts threaten military missions: Hagel

WASHINGTON: Looming budget cuts that will hit the US Defense Department from Friday will endanger the military's ability to conduct its missions, Pentagon chief Chuck Hagel warned. "Let me make it clear that this uncertainty puts at risk our ability ...

Sindh CNG pumps reopen today after 24-hour closure

KARACHI: All the CNG filling outlets in Sindh would reopen today (Saturdy) at 8 AM after 24-hour closure. According to Sui Southern Gas official, all the CNG stations in Sindh including Karachi would reopen on Saturday at 8.00 A.M. after 24-hour clos...

Groundbreaking of IP gas pipeline on March 11: Dr Asim

ISLAMABAD: The groundbreaking of Iran-Pakistan (IP) gas pipeline will be performed on March 11, Petroleum Advisor Dr Asim Hussain said. Talking to Geo news, Dr Asim said that the groundbreaking is going to be performed on March 11. The date was annou...

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